$BTC perfect slope #downtrend | qashkacrypto on Binance Square

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$BTC perfect slope #downtrend 

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$BTC Bitcoin's 24-Hour Decline: A Natural Cooling-Off Phase? Bitcoin's recent dip aligns with post-ATH profit-taking after reaching $123,091.61 on July 18. Key factors contributing to the decline include: - Overbought conditions: The 7-day RSI (74.2) triggered sell-offs, and $150.37M in BTC liquidations amplified downward pressure. - Institutional pause: Regulatory uncertainty led Basel Medical to halt a $1B BTC acquisition plan. - Market rotation : Bitcoin's dominance fell 3.35% to 60.8% as Ethereum surged 5.56%, driven by $727M in ETH ETF inflows. ▪️Technical Analysis: - Key levels: BTC tested the 23.6% Fibonacci retracement ($117,237) and broke below its 7-day SMA ($118,531). - MACD divergence: The histogram (+742.15) remains bullish, but narrowing momentum suggests consolidation risks. ▪️Price Predictions and Long Position Support Entry Points: - Support level: $117,000 - Potential bounce: If BTC holds above $117,000, it could bounce back to $120,000-$122,000. - Long-term outlook: Bitcoin's dominance may regain momentum as macro uncertainty persists, but Ethereum's recent surge could sustain if ETF inflows continue. ▪️Directional Cues: - Watch the $117K support level and ETH/BTC dominance ratio for insights into Bitcoin's next move. - Monitor Ethereum's momentum and BTC's ability to regain dominance as market trends evolve. This analysis provides a concise summary of the situation, highlighting key factors and potential price movements. #Write2Earn #BinanceSquareTalks

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#HODLTradingStrategy $BTC Bitcoin's current price is around $117,299.30, with a market cap of $2.44 trillion. Here's a breakdown of its recent performance - 24-hour range: $115,736.92 - $120,201.32 - Open price: $120,117.68 - High price: $120,201.32 - Low price: $115,736.92 - Percent change: -2.35% 🔴 Short-term Predictions: - Today's forecast: 📍 Bitcoin is anticipated to trade within a range of $114,828.25 to $118,846.89, considering current market volatility and recent price patterns. - Tomorrow's prediction: 📍Key levels to watch are $107,230 and $105,990. A break above $107,230 could fuel further bullish action, while a break below $105,990 favors downside momentum. 🟤 Technical Indicators: - Relative Strength Index (RSI): Currently at 76.95, indicating overbought conditions, which may lead to a price drop in the near term. - Exponential Moving Averages: Show a bullish trend on the daily chart. Resistance and Support Levels: - Resistance level: $122,147.00 - Support level: $116,769.00 #TradingStrategies Keep in mind that these predictions are based on current market trends and volatility, and actual prices may vary.

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