A reason for trust
A strict editorial policy that focuses on accuracy, meaning and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reports and publication
A strict editorial policy that focuses on accuracy, meaning and impartiality
The price of a lion football and players are tender. Each arcu is to ultra -up all children or hatred for football Ullamcorper.
This article is also available in Spanish.
Over the past few weeks, the sentiment around Bitcoin has reversed when Bulls once again exceeded him worth $ 100,000. Despite the recent payment, the price of BTC is still stubborn, and market moods are in greed. However, the up-to-date Bitcoin weekly development can signal the end of recent stubbornness, as it did in 2022.
Sell a signal from 2022
In 2022, vast sales caused by the FTX Crypto Exchange disaster brought a sudden end to the Bitcoin bulls market And they plunged investors into the months of despair when prices were delayed. At that time, the sales signal on Bitcoin Weekly Supertrend was issued, and the result was a decrease by over 60% of the Bitcoins price. Since then, this sales signal has remained dormant, but now it has returned.
Crypto analyst and Tony Spilotro certified by CMT took to X (previously Twitter) participation A disturbing formation on the Bitcoin chart. The analyst explained that the sales signal on the weekly Supertrend, which was dormant, finally returned. This signal was launched just below the current highest level of all -time in the amount of USD 109,000 and it seems that the market is playing accordingly.
The analyst explained that although the BTCUSD pair still shows strength, it could be a false force. This is due to the fact that the American dollar has recently weakened, which means that this may be the cause of the strength demonstrated by the BTC price. In addition, Tony revealed that even the Btceur pair showed no LMACD crossing.
Now, considering that this infrequent bear is now signaling, it can have grave consequences for the cryptographic market. The first of them would be that this is the peak of the market. In this case, investors may look at the next bears.
When it comes to How low the price may beMoving to the capacity of 2022, 60% failure would restore the price of Bitcoin below USD 50,000. If this happens, it destroys the already fighting Altcoin market, and also pushed BTC below the price of 500,000 Stash Strategy BTC, which opens a different can of worms.
Bitcoin must maintain a bunch of coverage
Tony in another post explained What must happen for the current upward trend to be maintained. He returned it Snap They are completed only in robust, vast weekly candles. In addition, the breakthrough must then close the upper Bollinger belt to confirm.
Currently, the price of BTC has not yet been closed over the upper Bollinger team, which is 108 507 USD. However, in May Bulls still left two weeks, Bulls still have time to end it before closing the month. Otherwise, the current breakthrough may not be a novel, and the reversal may push BTC further. “Bulls want to see it within two weeks, which led to a strong May,” said Tony Spilotro.
A distinguished picture from Dall.e, chart from tradingview.com
