btc

Analyze the Bitcoin market

Bitcoin is leading the overall market decline, with the current price having fallen below $114,000. However, whales and institutional investors have been buying on dips, further intensifying signs of a market reversal.

After a 1.57% drop in the last 24 hours, the price of Bitcoin has fallen to $113,844. Chart analysis indicates that the cryptocurrency has broken below an ascending wedge pattern. The trading price of Bitcoin appears to have fallen below the 50-day moving average, further confirming the bearish structure.

Bitcoin is currently in a mild correction, having only dropped 8% from its peak of $124,000. The price of Bitcoin has reached a potential best interest range for buyers to accumulate. Historically, this cryptocurrency tends to rebound after liquidity is abundant and new highs are reached.

If history repeats itself, a liquidity drop below $112,000 to $113,000 could be a good opportunity to go long.

#BTC