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Bitcoin Price Prediction: What to Expect Next Amid Strong Spot Selling Pressure?
Bitcoin Continues to See Spot Selling
The post, shared by the cryptocurrency analyst, identified as CrediBULL Crypto, highlights the existence of strong selling pressure in the spot market of Bitcoin.
A continued offloading of BTC in the spot market usually leads to a decline in the BTC price – which is a trend undesirable in a market that is expecting a strong upward momentum.
The post also points out the existence of signs of absorption at the lower price levels.
The aforementioned trend can be considered slightly favorable as it reveals the possibility for stabilization.Possible Choppy Bitcoin Price Action Ahead
From the statement made by the expert in the X platform, it can be clearly interpreted that the Bitcoin market is likely to move sideways, with occasional ups and downs, in the next couple of days – or even weeks.
There are experts who are of the opinion that a ranging price action should be considered as a cool-off period which generally happens before the price makes a decisive move.
Key Bitcoin Price Levels to Watch
The expert shares an important chart, along with his post. The chart showcases some key price levels that BTC investors should keep an eye on for any sudden market changes.
The post, shared by the cryptocurrency analyst, identified as CrediBULL Crypto, highlights the existence of strong selling pressure in the spot market of Bitcoin.
A continued offloading of BTC in the spot market usually leads to a decline in the BTC price – which is a trend undesirable in a market that is expecting a strong upward momentum.
The post also points out the existence of signs of absorption at the lower price levels.
The aforementioned trend can be considered slightly favorable as it reveals the possibility for stabilization.Possible Choppy Bitcoin Price Action Ahead
From the statement made by the expert in the X platform, it can be clearly interpreted that the Bitcoin market is likely to move sideways, with occasional ups and downs, in the next couple of days – or even weeks.
There are experts who are of the opinion that a ranging price action should be considered as a cool-off period which generally happens before the price makes a decisive move.
Key Bitcoin Price Levels to Watch
The expert shares an important chart, along with his post. The chart showcases some key price levels that BTC investors should keep an eye on for any sudden market changes.
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BTC
69 088
+1.03%
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