#BTC 6h Outlook
Bitcoin and other cryptocurrencies fell Monday as outflows from the largest spot Bitcoin exchange-traded fund weighed on prices. As the approval of landmark ETFs continues to deliver a "sell the news" dynamic, traders are bracing for a characteristic correction across crypto markets.
The price of Bitcoin has dropped 3% over the past 24 hours to $40,500, a far cry from the largest crypto's recent peak above $48,000, which marked its highest levels since early 2022. Bitcoin spiked to multi-year highs amid a trading frenzy around the U.S. approval of spot Bitcoin ETFs, a long-awaited catalyst that has proven to be a "buy the rumor, sell the news" trend among investors, despite the long-term bull case.
Neko forecasting BTC for short-term correction and bounce from current marked demand zone for buy position
#NekoChart @OriNeko
Bitcoin and other cryptocurrencies fell Monday as outflows from the largest spot Bitcoin exchange-traded fund weighed on prices. As the approval of landmark ETFs continues to deliver a "sell the news" dynamic, traders are bracing for a characteristic correction across crypto markets.
The price of Bitcoin has dropped 3% over the past 24 hours to $40,500, a far cry from the largest crypto's recent peak above $48,000, which marked its highest levels since early 2022. Bitcoin spiked to multi-year highs amid a trading frenzy around the U.S. approval of spot Bitcoin ETFs, a long-awaited catalyst that has proven to be a "buy the rumor, sell the news" trend among investors, despite the long-term bull case.
Neko forecasting BTC for short-term correction and bounce from current marked demand zone for buy position
#NekoChart @OriNeko
#BTC.D 6h Outlook
BTC Dominance on accumulation zone. My bias still bullish on lower time frame, tapping on 53% for next area. Be careful for some position on Alts. Slightly correction from BTC will make Alts bleeding if BTC.D rise
#NekoChart @OriNeko
BTC Dominance on accumulation zone. My bias still bullish on lower time frame, tapping on 53% for next area. Be careful for some position on Alts. Slightly correction from BTC will make Alts bleeding if BTC.D rise
#NekoChart @OriNeko
#BTC 6h Outlook
Currently bounce from 39k support area, have success breakout from EMA 200. Potentially pushing price towards strong resistance at 44k.
From here bias still a bullish trend, since the price can hold and retest on lower high area.
#NekoChart @OriNeko
Currently bounce from 39k support area, have success breakout from EMA 200. Potentially pushing price towards strong resistance at 44k.
From here bias still a bullish trend, since the price can hold and retest on lower high area.
#NekoChart @OriNeko
#BTC
Bitcoin price struggled to stay above $70,000 and corrected gains. BTC is now trading below $69,000 and showing a few bearish signs
The next key resistance could be $69,550. A clear move above the $69,550 resistance might send the price higher. In the stated case, the price could rise and test the $70,600 resistance. Any more gains might send BTC toward the $72,000 resistance
The first major support is $67,500. The next support is now forming near $66,250. Any more losses might send the price toward the $65,000 support zone in the near term
#NekoChart @OriNeko
Bitcoin price struggled to stay above $70,000 and corrected gains. BTC is now trading below $69,000 and showing a few bearish signs
The next key resistance could be $69,550. A clear move above the $69,550 resistance might send the price higher. In the stated case, the price could rise and test the $70,600 resistance. Any more gains might send BTC toward the $72,000 resistance
The first major support is $67,500. The next support is now forming near $66,250. Any more losses might send the price toward the $65,000 support zone in the near term
#NekoChart @OriNeko