Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Pulls
Back from Festive Highs, Risks Falling
Below $
90,000
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, which saw a modest rally during the Christmas period, has recently
witnessed a decline. The market participants appear to be booking profits,
exerting downward pressure on the leading cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта s price.
With weakening buying activity, BTC’s price may soon fall below the critical
$90,000 mark. This analysis explores some of the reasons behind this
projection.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Bears Apply More Pressure
BTC’s decline over the past few days has pushed its price below the Leading
Span A (green line) of its Ichimoku Cloud indicator, where it currently
trades. This indicator tracks the momentum of an asset’s market trends and
identifies potential support/resistance levels.
When an asset s price falls below the Leading Span A of its Ichimoku
Cloud, it indicates weakening momentum and a potential bearish shift. The
Leading Span A represents a near-term support level, so breaking below
suggests diminishing strength in the asset’s uptrend.
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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Ichimoku Cloud. Source: TradingView
Further, the coin’s negative Chaikin Money Flow (CMF) confirms the waning
demand for BTC. As of this writing, the indicator lies below the zero line at
-0.02.
Based on price and volume, the CMF indicator measures the strength of money
flow into or out of an asset over a specific period. As with BTC , when its
value falls below zero, it indicates that selling pressure dominates,
suggesting more outflow of money than inflow. This is a bearish signal that
implies weakening demand and potential downward price momentum. Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
Chaikin Money Flow. Source: TradingView
BTC Price Prediction: Will $91,000 Support Hold?
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s next major support level, which lies at $91,488, may fail to hold if
the demand weakens further. In that scenario, the coin’s price could fall
below $90,000 for the first time since early November to trade at $86,697.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Price Analysis. Source: TradingView
However, if BTC experiences a resurgence in buying activity, this could propel
its price above the dynamic resistance of $97,675 offered by the Leading Span
A of its Ichimoku Cloud. A successful breach of this level could drive BTC’s
price toward revisiting its all-time high of $108,230.
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