#BTC didn't give any strong pullback but yeah, price drove down as expected. Price reached the support on 4H TF. This can go deeper around $16,900 and that will be the decisional point next impulsive move.

GAME ON :

GREEN-👍
RED- 🔥

Invite all to look and vote

@Banaa_898

┌🟥 #BTC Liquidated Long - $69.1K at $16754.88
└Funding Rate: -0.0002%

#BTC drop as said, price goes below $16,900. Price is now on retracement mode, it might be deeper or small. Look for 4H TF, for the weakness apperance. Don't enter any fresh trade for long position.

weekend story

#BTC is more likely consolidating in range due to very low volume. Weekend in on, which might be reason for that. Next strong support on 4H TF, is around $16,150 and lower. Still, no sign for alts movement to the upside.

How much Bitcoin do you need to guaranteed be in the top 1%?

21M coins / (8B people * 0.01)
= 0.26 BTC

In reality you’ll need way less because of lost coins and whales.

@Banaa_898

Bitcoin Trades Below $17K Following Disappointing Weekly Close (Market Watch)

Bitcoin was unable to reclaim $17K, but the Open Network’s TON continues ripping, up another 6% in the past 24 hours.

The cryptocurrency market remained largely flat throughout the past 24 hours. Bitcoin’s price is still unable to reclaim $17K, while the majority of altcoins also didn’t chart any notable gains.

Bitcoin’s Price Flat Below $17K
Bitcoin’s consolidation below $17K continues. At the time of this writing, the cryptochttps://cdn.shortpixel.ai/spai/w_766+q_lossless+ret_img+to_webp/https://cryptopotato.com/wp-content/uploads/2022/12/btc_price_chart_191201.jpgurrency trades at around $16,750 and has failed to produce anything of significance in the past 24 hours. The weekly candle closed below $17K, which was disappointing and shows the lack of buyers.

Source: Binance via TradingView
It’s worth noting that prolonged periods of low volatility are typically a precursor to big moves, so it’s important to stay vigilant as the crypto markets rarely stay calm for long.

At the same time, it’s also evident that market participants are reluctant to accumulate aggressively, perhaps in anticipation of lower prices because of the FTX contagion. Just today, Dutch exchange Bitvavo said DCG has experienced liquidity issues.

Altcoin Volatility Disappears
Bitcoin’s dominance remained flat. It’s the metric analysts use to gauge its share relative to that of the rest of the market. This means that altcoins were unable to take advantage of the indecisiveness in Bitcoin’s price.

Binance cements its position in terms of dollar liquidity within a ~+/-25% price range. It is followed by Coinbase, Bitfinex, Bitstamp, and Gemini. The aggregated liquidity is ~$590M within the defined range.

Although sizable, a ~35k BTC (merely 0.18% of the circulating supply) market sell would send the price down to $12,500.

We recognize this scenario is improbable and would likely never materialize, owing to the existence of OTC markets which help absorb buy/sell pressure that secondary markets cannot. But mulling over such possibilities helps us contemplate the worst-case scenario.

@Banaa_898

#Bitcoin is interesting and nice to have for the people in Western Europe, United States, and developed world with a strong currency.'
#Bitcoin represents a life raft to the other 7 billion people' 🔥😉

#BTC

Nothing Changed for BTC, its a bearish retest of FVG. it may bounce again to test 17500 but overall bearish