🟢 The Bitcoin Bull-Bear Cycle Indicator has turned green for the first time since March 2023.
This indicator, which is used to identify bullish and bearish phases of the market, has now re-entered the Bull Market zone; a signal that historically has often marked the beginning of a significant phase change in the market.
However, there was one exception: in March 2022, this indicator also gave a bullish signal, but the price was quickly rejected, and the market entered selling pressure again.
🔍 Currently, data shows that market momentum is in favor of buyers. However, to confirm the continuation of the bullish trend, Bitcoin needs to establish itself above key levels; otherwise, this signal could turn into a bull trap.
This indicator, which is used to identify bullish and bearish phases of the market, has now re-entered the Bull Market zone; a signal that historically has often marked the beginning of a significant phase change in the market.
However, there was one exception: in March 2022, this indicator also gave a bullish signal, but the price was quickly rejected, and the market entered selling pressure again.
🔍 Currently, data shows that market momentum is in favor of buyers. However, to confirm the continuation of the bullish trend, Bitcoin needs to establish itself above key levels; otherwise, this signal could turn into a bull trap.
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Coinlyra
$BTC at a critical level right now ✍️ Breakdown could send #BTC into a short-term pullback zone📉 analyst: zayk
#BTC losing momentum near resistance 👀📉
A breakdown from this trendline could trigger a deeper correction ⚠️
analyst: zayk
A breakdown from this trendline could trigger a deeper correction ⚠️
analyst: zayk
📈 The selling pressure in Bitcoin has practically subsided.
On-chain data shows that the selling pressure from short-term holders has remained at 0% for five consecutive days.
This means that those who were trapped during previous declines are no longer under selling pressure now that BTC has bounced back above 80K, leading to a calmer market.
On the other hand, the amount of "hot supply" in the market has decreased, meaning that coins being quickly bought and sold have diminished, reducing the risk of a sudden dump.
🟢 This condition is usually a good sign because fear-based selling has decreased.
👈 The on-chain support that is important for us is between 78K and 79K. As long as Bitcoin stays above this range, buyers have the upper hand.
On-chain data shows that the selling pressure from short-term holders has remained at 0% for five consecutive days.
This means that those who were trapped during previous declines are no longer under selling pressure now that BTC has bounced back above 80K, leading to a calmer market.
On the other hand, the amount of "hot supply" in the market has decreased, meaning that coins being quickly bought and sold have diminished, reducing the risk of a sudden dump.
🟢 This condition is usually a good sign because fear-based selling has decreased.
👈 The on-chain support that is important for us is between 78K and 79K. As long as Bitcoin stays above this range, buyers have the upper hand.
📌 The Producer Price Index (PPI) data was released today, and it came in higher than expectations across all dimensions. The annual producer inflation has now reached 6%, up from 4.9%, while it was anticipated to drop to 4.3%.
🤏 The PPI data also indicates that inflation in the U.S. has seen significant growth, and we should expect the continuation of the Federal Reserve's contractionary policies, which is not favorable for crypto.
🤏 The PPI data also indicates that inflation in the U.S. has seen significant growth, and we should expect the continuation of the Federal Reserve's contractionary policies, which is not favorable for crypto.
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#BTC/USDT ANALYSIS
BTC went down after the breakdown and retest of the triangle and we've seen a correction in the market as expected.
Currently, it is trading above the mid marked horizontal supoort. A bounce could be expected from here, while a breakdown retest of the marked support would be a sign of further correction in the market.
analyst: express
BTC went down after the breakdown and retest of the triangle and we've seen a correction in the market as expected.
Currently, it is trading above the mid marked horizontal supoort. A bounce could be expected from here, while a breakdown retest of the marked support would be a sign of further correction in the market.
analyst: express
#TOTAL MARKET CAP ANALYSIS
Total market cap pumped after the breakout of the symmetrical triangle, and it reclaimed the horizontal resistance, which is now acting as a horizontal support.
Currently, it retested above the horizontal support and an upward move is expected for however long it is trading above it.
analyst: express
Total market cap pumped after the breakout of the symmetrical triangle, and it reclaimed the horizontal resistance, which is now acting as a horizontal support.
Currently, it retested above the horizontal support and an upward move is expected for however long it is trading above it.
analyst: express
#BTC/USDT ANALYSIS
BTC went down after the breakdown retest of the ascending triangle. Currently, it breakdown the S/R level, which is now acting as a resistance.
A downward move toward the lower marked horizontal support is expected as long the price is below the S/R level, while reclaimation of the S/R level would be a sign of bullish momentum back in the market.
analyst: express
BTC went down after the breakdown retest of the ascending triangle. Currently, it breakdown the S/R level, which is now acting as a resistance.
A downward move toward the lower marked horizontal support is expected as long the price is below the S/R level, while reclaimation of the S/R level would be a sign of bullish momentum back in the market.
analyst: express
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🚨 Bitcoin spot ETFs had over $1 billion in sales this week.
🔴 This means that institutional investors are currently scared of the current conditions and prefer to stay liquid. After this heavy selling pressure, there's a high likelihood of continued selling in other categories as well, and the momentum is likely to weaken temporarily.
🔴 This means that institutional investors are currently scared of the current conditions and prefer to stay liquid. After this heavy selling pressure, there's a high likelihood of continued selling in other categories as well, and the momentum is likely to weaken temporarily.
🚨 60% chance of Bitcoin dropping below $75,000
According to Palimarket data, traders are currently giving a 60% chance that Bitcoin will fall below $75K before the end of the month.
💬 This indicates that traders are leaning more towards selling, and fear and pessimism are dominating the market, especially given the risky economic environment and the fragile ceasefire between Iran and the U.S.
📌 For now, the $75K range has become an important psychological support level for Bitcoin; losing it could increase selling pressure, but maintaining it keeps the chances of a market rebound higher.
According to Palimarket data, traders are currently giving a 60% chance that Bitcoin will fall below $75K before the end of the month.
💬 This indicates that traders are leaning more towards selling, and fear and pessimism are dominating the market, especially given the risky economic environment and the fragile ceasefire between Iran and the U.S.
📌 For now, the $75K range has become an important psychological support level for Bitcoin; losing it could increase selling pressure, but maintaining it keeps the chances of a market rebound higher.
#USDT DOMINANCE ANALYSIS
USDT.D is moving in a descending triangle. Currently it is facing the resistance trendline.
A rejection from here is possible, while a breakout retest of the triangle would be the bullish confirmation.
We've to note that it works inversely proportional to the crypto market.
USDT.D is moving in a descending triangle. Currently it is facing the resistance trendline.
A rejection from here is possible, while a breakout retest of the triangle would be the bullish confirmation.
We've to note that it works inversely proportional to the crypto market.
Coinlyra
#BTC losing momentum near resistance 👀📉 A breakdown from this trendline could trigger a deeper correction ⚠️ analyst: zayk
#BTC Trendline Breakdown Playing Out As Expected 📉🔥
$BTC has officially lost the major 4H trendline support and bears are starting to take control 👀
analyst: zayk
$BTC has officially lost the major 4H trendline support and bears are starting to take control 👀
analyst: zayk
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📆 Important Economic Events This Week:
🔹 Tuesday — Release of "Pending Home Sales" data for the U.S. in April
🔹 Wednesday — Release of the Federal Reserve's (FOMC) meeting minutes + NVIDIA ($NVDA) earnings report
🔹 Thursday — Release of the Philadelphia Federal Reserve's Industrial Production Index for May
🔹 Friday — Release of consumer sentiment and economic expectations data from the University of Michigan (UMich) for May
🔹 Tuesday — Release of "Pending Home Sales" data for the U.S. in April
🔹 Wednesday — Release of the Federal Reserve's (FOMC) meeting minutes + NVIDIA ($NVDA) earnings report
🔹 Thursday — Release of the Philadelphia Federal Reserve's Industrial Production Index for May
🔹 Friday — Release of consumer sentiment and economic expectations data from the University of Michigan (UMich) for May
🚨 Goldman Sachs is retreating from some crypto ETFs.
According to a recent report, Goldman Sachs has closed its entire position in XRP and SOL ETFs, sold about 70% of its ETH ETFs, and only reduced its BTC ETFs by 10%.
💡 It seems that financial institutions are currently being more cautious with altcoins and still consider Bitcoin to be the safest option in the crypto market.
According to a recent report, Goldman Sachs has closed its entire position in XRP and SOL ETFs, sold about 70% of its ETH ETFs, and only reduced its BTC ETFs by 10%.
💡 It seems that financial institutions are currently being more cautious with altcoins and still consider Bitcoin to be the safest option in the crypto market.
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