Bitcoin’s price has climbed nearly 18.50% in a week, recovering from a six-month low of $49,755. However, technical and on-chain indicators suggest that the cryptocurrency could face further corrections in the coming weeks. Bitcoin’s current correction cycle is paralleled by a decline in the profitability of long-term holders, as measured by the 30-day moving average.
As of August 16, approximately 83% of Bitcoin holders were in the money, compared to 96% in March. High amounts of profit-holding Bitcoin are often considered a sign of price corrections or FOMO that is occurring at the same time. As a result of this on-chain signal, if long-term holders decide to realize their profits, Bitcoin price could see a pullback in the coming days.
Bitcoin’s ongoing consolidation process has created an ascending triangle pattern. Technically, this pattern could indicate a potential trend reversal or weakening downward momentum. However, in some cases, ascending triangles can also act as a continuation pattern in a downtrend. If the price fails to break through the resistance level and breaks below the rising trendline, the downtrend could continue and sellers could take control of the market.
Ascending triangles are often considered bullish reversal patterns in downtrends. A close above the 50-4-hour EMA for Bitcoin could signal a move towards the upper trendline of the triangle. A successful close above the upper trendline could trigger an ascending triangle breakout scenario, setting an upside target of around $70,000.
If Bitcoin breaks below the 50-4-hour EMA, selling pressure could increase.
If the lower trend line of the triangle is broken, the downtrend may continue.
If Bitcoin closes above the 50-4-hour EMA, a rally to $70,000 is possible.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE BY BINACE SPECIALLY FOR ME. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.
