As Bitcoin (BTC) continues to struggle, the question arises: Is BTC bullish 📈 or bearish 📉? Here's my analysis:
Currently, BTC is trading at 96,600 but has been unable to clear its way forward. Its recent move to 92,000 found support, but the price was rejected at both 97,000 and 99,000. At this point, the support zone lies between 92,000 and 93,000, while the resistance zone remains between 97,000 and 99,000.
Looking ahead, BTC's strong demand zone is around 85,000 to 84,000, which I previously highlighted. Based on this, I maintain a bearish outlook 📉 for BTC and anticipate a downward move toward its demand zone. ⚠️ Be careful with your trading setups, as further dips may occur.
Disclaimer: This analysis is based on my personal knowledge and insights. Please ensure you conduct thorough research before making any trading decisions, as I am not responsible for any losses.
#FranklinCryptoETF Hey Guys I am Back Again 😁 A have Little bit analysis on BTC BTC is Currently Trading Within Its Demand Zones on 4 hours Chart It shows Good Reaction at Demand Zone But It could be fake Current Candle closing Will Decide It, If It Closes With Good volume then BTC will move Higher and if it shows rejection then it will heads toward 85k or 80k Lets See How it goes please like share and Follow Must Thank You! #BinanceAlphaAlert #MarketPullback #USJoblessClaimsFall $BTC
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Hey everyone! It's been a while, but I'm back and ready to share some market insights with you again! Let’s dive right into it with some fresh BTC analysis:📊 BTC/USDT Update:- Current Price: $62,106- Key Support: Around $60,320- Resistance Zone: $68,000–$72,000 (Be cautious, this is where sellers may step in!)
🔍 Bullish Outlook: There's a potential move up toward the $68,000 range if BTC can hold support and break through $64,000. However, always watch for confirmation, like increasing volume or a clear breakout above that level.❗ What You Should Know:- If you're bullish and comfortable with some risk, this could be a buying opportunity.- On the flip side, if resistance holds strong, selling pressure may emerge, so always have a strategy in place!💬 I'm excited to be back and can't wait to continue sharing more insights with all of you. Let's stay sharp and trade smart! 💪 $BTC
Bitcoin has surged to $71,000, marking the highest price in the past two months, accompanied by a stable funding rate indicating positive signals. According to an analyst’s explanation in a CryptoQuant Quicktake post, BTC’s funding rate has remained relatively low recently. The “funding rate” refers to an indicator that tracks the periodic fees traders on the derivatives market are paying each other. When this metric is positive, it means that long position holders are paying higher fees to short sellers to maintain their positions. Such a trend indicates a generally bullish sentiment in the market. Conversely, a negative value of this indicator suggests that short sellers dominate the market, indicating a bearish sentiment among derivative users. Now, here is a chart displaying the data on Bitcoin’s funding rate, along with its 7-day simple moving average (SMA) over the past year.
After hitting $63,000 yesterday, Bitcoin has now corrected to $61,700. Galaxy CEO Mike Novogratz, a prominent industry figure, thinks Bitcoin could range between $55,000 and $75,000 until a “new story” emerges. He suggested that Bitcoin price may not see major fluctuations until the market accepts new changes. According to Novogratz, this “story” could emerge through two scenarios: The US Central Bank reduces interest rates or regulators loosen regulations on cryptocurrencies.
On Tuesday, while discussing the company’s earnings, Novogratz said that after a strong first quarter, cryptocurrencies are now in a consolidation phase and Bitcoin prices could range between $55,000 and $75,000 for until the next market events. In an interview with Bloomberg on Tuesday, Novogratz shared: “Bitcoin always needs a story. If you consider Bitcoin as digital gold, there are always two main factors: macro factors and adoption factors.”
The price of Bitcoin has dropped to $61,000, meaning the market has been in a continuous decline for the past 3 days. In the cryptocurrency sector, it can be seen that both physical and derivatives trading volumes have decreased due to concerns about the overall economic situation. The views of officials from the Federal Reserve have raised questions about whether interest rates can remain high.
Bitcoin whales are buying at this time. Data from online data platform Santiment shows that in the price range of $61,000 to $64,000, large investors began accumulating BTC within the past 24 hours. Investor groups owning between 1,000 and 10,000 BTC purchased an additional 15,000 BTC, estimated to be worth $941 million. Even though the price dropped to $62,000, the “whales” continued to accumulate with no signs of abating.
Bitcoin Rises to $59,000 But Remains in Low Valuation Zone
Bitcoin is currently trading at $59,300, with a slight increase of around 4% since hitting a low of $57,000 over the past 24 hours. Bitfinex analysts predict that after the halving event, Bitcoin will continue to strengthen its price position, while other cryptocurrencies are attracting interest from investors thanks to their potential to bring value return higher profits.
The latest market report from Bitfinex states that Bitcoin is undervalued, with the Market Value to Realized Value (MVRV) index currently reaching 2.21. This is seen as a potential opportunity for investors as historical data shows there are significant profits when MVRV falls below the 90-day average. However, Bitcoin’s dominance is fading as Ethereum and other cryptocurrencies are gaining ground.
Bitcoin fell to a 24-hour low of $56,600, but has since recovered to $57,300 at the moment, after the FED decided to maintain interest rates to control inflation.
Leading experts predict that Bitcoin’s recent price correction will soon end, giving investors hope amid a market downturn. April has been rough for Bitcoin, marking its biggest monthly drop of the year, with a nearly 20% drop, the first time the price has dipped below $57,000 since late February. The drop was part of a widespread sell-off in the cryptocurrency market, which reduced total market capitalization by nearly 10% to $2.2 trillion. Amid this difficult backdrop, experts like Michael van de Poppe have suggested that Bitcoin could soon recover, especially if it remains stable within the $56,000 to $58,000 price range.
BTC Short #Update Hey Guys Hope you are all fine Acc To 4hr Chart BTC is near supply zone and got rejected we all know that btc has done well after dump but we still have no clear idea that btc is full bullish so let me clear you all that btc have enough fule for dump and pump so If it break in hold 73,700 level then maybe it would go to 75k or 80k level and if does not then 53k😒
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Bitcoin plummeted to $59,000 after facing selling pressure from major investors, as the market closed the April candle.Bitcoin experienced significant volatility overnight and this morning, with prices dropping below $60,000 USD, reaching lows unseen since early March. According to IntoTheBlock, Bitcoin is currently in a period of moderate price consolidation. Despite the potential for accelerated price drops due to whale exits, most BTC holders are still profitable. IntoTheBlock notes that 86% of all Bitcoin holders are currently in profit. Although this figure is lower, it may indicate that the market is in a consolidation phase following the surge in the first quarter of 2024. Bitcoin surpassed its 2021 high in mid-March, reaching a new all-time high of $73,800 USD. At that price level, all Bitcoin buyers, even those who bought at the 2021 peak, are in profit.
Hey Guys How Are You ? As I told you about ORDI couple of weeks ago .....🙃 and 2nd trade of btc i just analysis it before halving ....😁 follow if i deserve and don't forget to like and share
Acc to 4hours Chart Ordi is making a triangle pattern and seems break out which is Bearish sign for ordi it could be fake or because of BTC fall further Confirmation and retest will send it to 47 ~ 46 levels Trade Wisely