$BTC
alert BTC is going to drop around 44600 to 44700 within 1 or 2 hours.

and there is further possiblity to drop more downside because yesterday fake news was circulated.

I specifically suggest traders to avoid long trades.

#BTC #dump #retracement #etf #2024withBinance

Will Bitcoin's Price Decline Before the Halving Event? 📉

Amid #bitcoin 's recent surge to 17-month highs and anticipation of a Bitcoin halving event in 164 days, conflicting signals arise from supply metrics.

The stablecoin supply ratio is at an all-time high, suggesting strong appetite for Bitcoin accumulation. However, this also indicates weak stablecoin purchasing power, potentially leading to a #retracement before the #halving in April 2024.

On the other hand, the reserve risk indicator, which measures risk-reward incentives, remains at multiyear lows, signaling high confidence in Bitcoin's future price performance.

Long-term holders may be poised for significant gains, especially with potential inflows from a Bitcoin ETF.

#Binance
#crypto2023

Could Bitcoin Continue to Surge? 🤔

Bitcoin is showing a rare #bullish pattern with a potential crossover between two key moving averages, not seen in eight years.

This last occurred before Bitcoin surged to $20,000 in 2017. The current excitement surrounding the first US Bitcoin #ETF is boosting the market, but some remain skeptical, predicting a price drop after the ETF decision.

Despite differing opinions, indicators suggest further upside potential for Bitcoin, while a notable trader predicts a temporary peak before a possible #retracement to around $30,000.

#Binance
#crypto2024

Technical Analysis of Bitcoin (BTC) and Ethereum (ETH) (as of April 16, 2024)

Market Sentiment:

The overall sentiment in the cryptocurrency market remains cautious. Recent price declines, particularly for Bitcoin, have dampened enthusiasm. Trading volumes remain subdued, reflecting investor hesitancy.

Bitcoin (BTC):

Current Price: $BTC

Trend: Short-term downtrend.

Fibonacci Levels: Using the most recent swing high of ~$70,000 and swing low of ~$50,000, key Fibonacci retracement levels sit at:

Support: ~$53,800 (38.2% retracement) & ~$46,200 (50% retracement)

Resistance (previously mentioned): ~$61,800 (23.6% retracement) & ~$67,600 (14.6% retracement)

Analysis: While $BTC has recovered slightly from its intraday lows, it's still trading below the crucial $64,000 level. A break below this level could trigger a test of the support zones mentioned above. A sustained move below $46,200 would indicate a steeper decline. Conversely, a daily close above $64,000 might suggest a short-term trend reversal.

Ethereum (ETH):

Current Price: $ETH

Trend: Similar to BTC, ETH is in a short-term downtrend.

Fibonacci Levels: Using the most recent swing high of ~$4,800 and swing low of ~$3,200, key Fibonacci retracement levels sit at:

Support: ~$3,700 (38.2% retracement) & ~$3,200 (50% retracement)

Resistance (previously mentioned): ~$4,200 (23.6% retracement) & ~$4,400 (14.6% retracement)

Analysis: ETH finds itself in a precarious position. The current price sits very close to the 50% retracement level, indicating a potential turning point. A breakdown below $3,200 could exacerbate the downtrend. Conversely, a daily close above $3,400 might signal a potential recovery towards the $3,700 support zone and eventually the previous highs.

#bitcoinhalving #BullorBear #Fibonacci #retracement

$JTO major retracement will be bloody and this 2 long candles here are not selling yet.

Wait for the best price don't get Fomoed!

AIRDROP holders are still there waiting for a signal to sell. 1 good red candle is the key before correction

#JTO
#retracement
#BearishZone
#DontGetFomoed
#SolanaPriceSurge

🌟🌟🌟🌟🌟

Since the November 2022 Bear Market Bottom...

Bitcoin has experienced the following retraces:

• -23% (February 2023) lasting 21 days

• -21% (April/May 2023) lasting 63 days

• -22% (July/September 2023) lasting 63 days

• -21% (January 2023) lasting 14 days

This current pullback is only the 5th major retrace since the 2022 Bear Market Bottom

All of the pullbacks experienced just over -20% retracement depth

Bitcoin has pulled back -16% thus far

But the retrace began only last Thursday

The current retrace has therefore barely lasted a week

In sum, there are two key takeaways about retracements in this current cycle:

• The closer Bitcoin gets to a -20% retrace, the better the opportunity becomes

• Retraces need time to fully mature (at least 2-3 weeks, at most 2-months)

#BTC #retracement #OpportunityKnocks $BTC $ETH $BNB