Trust is a good thing
Editorial policy that is strict and focuses on accuracy. relevance, impartiality, and relevancy
Designed by professionals and carefully reviewed
Reporting and Publishing at the highest level
Editorial policy that is strict and focuses on accuracy. relevance, impartiality, and relevancy
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin was rejected after its recent surge of $97,000. Expert in technical expert Tony Severino Has commented on this and hinted at the LMACD indicators, which revealed what’s next for flagship cryptocurrency.
What’s next for the Bitcoin price after rejection at $97,000?
Tony Severino posted an X-post on his blog. stated Multiple BTC Timeframe Analysis using the LMACD indicator Bitcoin is currently in a fragile position. He noted that, if the monthly LMACD crosses back bearish and the daily LMACD does not cross over to the positive side of the chart on a weekly basis, this could stop the weekly bullish crossing. It would also turn the LMACD monthly back into a negative reading.
Related Reading
Severino said that with several timeframes in harmony, market participants may see a stronger downtrend for Bitcoin. The technical expert, on the other hand noted that the diverging daily LMACD could cross over the weekly bullish to avoid another monthly crossoverThis could indicate a bullish trend.
The monthly LMACD, which is the strongest of the three indicators, is what he believes is most likely to indicate a decline in the Bitcoin price. In addition, he said this indicator is strong enough to drag the other timeframes along with it. Severino did not mention the possible lows of BTC on this projected decline.
Meanwhile, crypto analyst Ali Martinez Also, he warned of a possible Bitcoin price drop. In a post on X, he said that BTC might soon drop as the TD Sequential signal is flashing a sale. He warned that Bitcoin’s price could plummet to $86,000 or $90,000 if the support level at $94,765 is lost.
The BTC History of the Past Could Recur
Crypto Analyst Rekt Capital Bitcoin could repeat a move similar to last year. In order for the past to be repeated, BTC needs to hold up above $93,500 to break through the $97,000 – $99,000 price range. He also noted that BTC needed to hold down $104,500 to hold on to the $97,000 – $99,000 support range.
Related Reading
Crypto analyst comments on current market price movement Titan of Crypto The Bitcoin price has retreated to an important support level. A strong reaction in this zone will confirm the continuation of an upward trend. He showed on the chart that $95,423 is the price to be watching. In the event that this price isn’t reclaimed soon enough, a decline in value for the crypto could begin.
Bitcoin’s price has fallen in the last day to $94,700. data CoinMarketCap.
Chart from Tradingview.com, image from Unsplash
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
