Bitcoin

<p>The price of bitcoin has fallen below the key support level of $36,400 identified by top crypto analyst Ali earlier today. At the time of writing, bitcoin is trading around $36,119, down nearly 2% in the last 24 hours.</p>
<p><a href="https://x.com/ali_charts/status/1724320070036312506?s=20" target="_blank" rel="noopener noreferrer nofollow">In an earlier tweet</a>, Ali had noted that $36,400 was providing stable support for bitcoin. However, he warned that a break below this level would open the doors for a drop to $34,300.</p>
<p>This warning now seems to be playing out, as bitcoin has decisively moved below the $36,400 support. With the bears in control, Ali’s next target of $34,300 now looks likely.</p>
<p><em>“Bitcoin has found stable support around $36,400, but if this level breaks, the next critical demand zones for $BTC are at $34,300 and $30,200.”</em></p>
<p>As Ali <a href="https://x.com/ali_charts/status/1724396311422603437?s=20" target="_blank" rel="noopener noreferrer nofollow">pointed</a> out in the next tweet, the divergence between bitcoin’s price and network growth is a bearish signal that indicates a lack of upside momentum.</p>
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<p><em>“When $BTC price climbs, but network growth slows down, it’s a red flag. It suggests the uptrend might not have enough momentum to sustain. This bearish divergence between #BTC price and network growth is an on-chain sell signal traders should be aware of.”</em></p>
<p>This warning sign has now materialized into a breakdown below the key support level. Unless bitcoin can reclaim $36,400 quickly, Ali’s bearish target of $34,300 looks imminent.</p>
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<p>The post <a href="https://captainaltcoin.com/top-analyst-identifies-a-red-flag-in-bitcoin-btc-on-chain-indicators/" rel="noopener noreferrer nofollow">Top Analyst Identifies a “Red Flag” in Bitcoin (BTC) On-Chain Indicators</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Top Analyst Identifies a “Red Flag” in Bitcoin (BTC) On-Chain Indicators

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