Bitcoin Trend Update : Bitcoin Plunges to a Week-Wide Low
A few hours ago, traders' trepidation ahead of US inflation statistics and the Federal Reserve's monetary policy decision caused $BTC to tremble. Before changing hands at $68,200, the biggest digital asset fell as much as 2.5% ($67,899) to a one-week low. With the help of inflows into specialised US exchange-traded funds, $BTC reached a record high of $73,847.8 in March, but it has since struggled to reach new heights. #IOprediction #altcoins #bitcoin #Binance200M
LIVE
Whale Trader
--
BITCOIN TREND : DOUBLE TOP
It was about $70K, so the weekend was as quiet as it could be. The start of the week was not the best; it was slightly below the psychological threshold.
The $BTC daily chart indicates the construction of a "double top," but in order to identify the reversal pattern, you must first break through below $67K and at least descend to the base where the second top formed. Prerequisites exist, however they are not as important just yet.
I keep a close eye on the buyer's behaviour in the near future. Should there be no activity, the $67K test will be administered. More about the circumstances. The image is not quite clear as of yet. I watch in order to decide. #Binance200M #BnbAth #bitcoin #BTC #FIT21
It was about $70K, so the weekend was as quiet as it could be. The start of the week was not the best; it was slightly below the psychological threshold.
The $BTC daily chart indicates the construction of a "double top," but in order to identify the reversal pattern, you must first break through below $67K and at least descend to the base where the second top formed. Prerequisites exist, however they are not as important just yet.
I keep a close eye on the buyer's behaviour in the near future. Should there be no activity, the $67K test will be administered. More about the circumstances. The image is not quite clear as of yet. I watch in order to decide. #Binance200M #BnbAth #bitcoin #BTC #FIT21
$BTC price is currently close to the $68,5k resistance range's upper limit. The price will keep dropping if it is unable to breach the range's top boundary. Investors that are aggressive may choose to sell, aiming for $67,5k – $66,8k . #Megadrop #MtGox #EarnFreeCrypto2024 #btc70k #altcoins
$BTC price is currently close to the $68,5k resistance range's upper limit. The price will keep dropping if it is unable to breach the range's top boundary. Investors that are aggressive may choose to sell, aiming for $67,5k – $66,8k . #Megadrop #MtGox #EarnFreeCrypto2024 #btc70k #altcoins
On a one-hour time frame , $NOT is moving within an upward triangle. The chart appears encouraging. However, it can re-test the supports. The aim for this trade is $0.0107 🔥.#Megadrop #MtGox #EarnFreeCrypto2024 #ETHETFsApproved #BlackRock
The price of $BTC fell below the $60,400 barrier. We should anticipate more price reductions if it doesn't rise by the end of the day. At $53,400, the next major support
A map of implied liquidityUpon examining the 3-month liquidity map, two primary areas of buildup are discernible.
Zone $73–75,000: this is where short position liquidity is gathered.
The vendor vehemently objected to attempts to pick it up there. There is too much pressure on the market.
Zone $50k – $47k : this is where the buyer's liquidity is gathered. The market will see a significant amount of holdings removed if and when the price hits $50,000. Such a move is entirely feasible in the context of a significant market correction, whilst observing.
Positively speaking, I would want to see liquidity collected over $73,000 before it drops to $50,000. And then there ought to be a full-fledged bullrun.
Is it the start of the bull season after Bitcoin dropped more than 7% in a single day? Come with me as we solve it. We have spent the entire day watching the Bitcoin spill, which is not a pretty sight.
The traders' query was what are the prospects? It was beginning to take shape. The closest support zone, according to technical analysis, is the $60k–$59k block.
A bounce to $62k is anticipated if the asset holds it. It will flow to $55k to $50k with a few candles if it doesn't hold back.
$BTC An ascending triangle is forming at the 15-minute time frame, and based on the response to MA50, a long-term breakout is likely to occur. #cpi #bitcoinhalving #BullorBear #Memecoins
$OPUL is a Real World Asset based coin, and Real World Asset is moving narrative as the market is continuously producing new HHs and HLs on increasing TF.
The market is currently making a bullish division on the 1H and is retracing a little bit from the previous HH on the daily. If this falling wedge breaks, we will enter at the breakout.
The following phase up could target new HH if the market is able to maintain its bullish convergence. At 0.2300$, we'll enter a buy
There is not much to say about $BTC 's continued maintenance of its symmetrical triangle structure; in fact, it appears that this horizontal movement will continue for some time.
Our magic level, in my opinion, will drop to the $69k - $71k range unless there are two 4-hour closures below $66397. Nothing is fundamentally flawed; rather, it keeps making constructive adjustments.
Closings below will result in, correspondingly, levels of $62600, $61100, and $59700. It makes the most sense to move in the direction of the breakout and adjust course accordingly.
Despite having a bullish overall outlook, I regard each withdrawal up to the $64300 level as a correction.
It is still possible to see a retest of the remaining levels, but only if one of the bearish patterns, such as a flag, starts to materialise.
As a result of the already-observed cloud rebound, it is often premature to discuss the formation of any figures. Additionally, reducing will be the top priority given the complete consolidation that falls under it.
The support zone between $62k and $60K is currently the fall's primary aim. There is only one situation in which the downward scenario can change , the price breaks through and stabilises over $68K. As of yet, there are no requirements for this.