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Заголовок BTC Recovers Above $61K But Danger Still Looms if it Breaks Below This Key Support Level: Bitcoin Price Analysis
Дата 20240626

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============= Обработанный текст:
BTC Recovers Above $61K But Danger Still Looms if it Breaks Below This Key
Support Level: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Price Analysis

BTC Recovers Above $61K But Danger Still Looms if it Breaks Below This Key
Support Level: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Price Analysis

Author: CryptoVizArt

Last Updated Jun 26, 2024 @ 12:22

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s price has been on the decline over the last couple of weeks, as it
failed to create a new all-time high once again. However, the asset is now
approaching a key support level.

Technical Analysis

By TradingRage

The Daily Chart

With the BTC price dropping fast, it is approaching the 200-day moving average
on the daily timeframe. But first, for the asset to drop to that level, which
is situated at around $57K, the $60K support level has to be broken decisively
to the downside.

Meanwhile, the RSI is also reaching the oversold region, which could result in
a bullish reversal soon.

The 4-Hour Chart

The 4-hour timeframe shows a more clear picture of the recent price action.
The BTC price dropped below the $65K level a few days ago and quickly crashed
under the $60K level before recovering above it.

This fake breakout below the $60K support zone has caused tons of long
liquidations and could indicate that the asset would soon reverse higher. Yet,
this heavily relies on whether the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта can hold the $60K and $57K
support levels.

On-Chain Analysis

By TradingRage

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Long-Term Holder SOPR

With the price failing to continue above $70K once again, many investors are
worried that BTC might be creating a local top. Looking at some of the
fundamental metrics of the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin network, their concerns seem justified.

This chart presents the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Long-Term Holder SOPR metric, which shows the
profit realization ratio by investors who have held their coins for more than
six months. It is evident that these holders are realizing profits at a rate
higher than the $69K all-time high, even while the price has been trading
lower than that level for the past few days.

One might assume that this profit realization behavior is natural for a bull
market, but its magnitude can be a worrying sign. If this trend continues, the
subsequent selling pressure could overwhelm the price, causing it to drop even
lower and potentially end the bull market, at least for the mid-term.

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Cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта charts by TradingView.

Tags: Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Price

============= Итог: 4,0320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin


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