Bitcoin

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A recent analysis by prominent crypto trader Josh Olszewicz, known on X as @CarpeNoctom, <a href="https://twitter.com/CarpeNoctom/status/1733893814530555914">suggests</a> that Bitcoin (BTC) might see a drop to the $36,000 range. His bearish case is based on the daily Kijun line.&nbsp;
Furthermore, he advises that setting a stop loss on long positions around $42,800 might be prudent. &nbsp;
<h2 id="understanding-the-kijun-line">Understanding the Kijun line&nbsp;</h2>
The Kijun line, a key component of the Ichimoku Cloud trading system, represents one of the primary indicators used by traders to gauge potential price movements.&nbsp;
It is often considered the baseline or standard line, calculated over the last 26 periods and providing a median price over that duration.&nbsp;
A dip below the <a href="https://u.today/top-ten-technical-indicators-to-use-at-primexbt">Kijun</a> line can be interpreted as a bearish signal.
The green cloud indicates a bullish phase with potential support levels should the price of Bitcoin decline. The fact that the price action is above the cloud suggests that the overall trend is upwards.&nbsp;
If the price were to enter the cloud, it might suggest uncertainty or a possible change in trend, and if it were to break below the cloud, it could be considered a bearish signal.
<blockquote>
 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>bear case = 35.7k (daily Kijun)SL on longs prob prudent around 42.8k <a href="https://t.co/NqyLsJS9Nq">pic.twitter.com/NqyLsJS9Nq</a>— Josh Olszewicz (@CarpeNoctom) <a href="https://twitter.com/CarpeNoctom/status/1733893814530555914?ref_src=twsrc%5Etfw">December 10, 2023</a>
</blockquote> 
<h2 id="the-crypto-market-remains-in-limbo">The crypto market remains in limbo</h2>
Over the past 24 hours, the cryptocurrency market has witnessed Bitcoin consolidating its position, with minor fluctuations indicating a period of stability after recent gains, according to <a href="https://www.coingecko.com/">CoinGecko</a>. &nbsp;
Ethereum has mirrored this steadiness, maintaining a similar percentage change.&nbsp;
Binance Coin and Ripple-affiliated XRP have also experienced slight increases together with other major altcoins. &nbsp;

Bitcoin (BTC) Price Might Drop to $36K, Top Analyst Warns

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