Flow

Bitcoin

Spot

MN Coin

<ul>
 <li>Bitcoin’s price only moved marginally in the last 24 hours.</li>
 <li style="font-weight: 400;">Market indicators looked bearish, suggesting a price decline in the near term.</li>
</ul>
<a href="https://ambcrypto.com/search/btc" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin’s [BTC]</a> price has somewhat taken a sideways path over the last few days as its value moved marginally. Amidst that, an analyst recently posted a new analysis highlighting the key resistance levels the king of cryptos witnessed in the recent past.
<h4>A look at Bitcoin’s sell signals</h4>
As mentioned above, AMBCrypto found that BTC’s price took a sideways path in the recent past as its value increased by only 0.7% in the last 24 hours. 
At the time of writing, BTC was trading at $43,012.40 with a market capitalization of over $842 billion. While that happened, DanBTC916, an author and analyst at CryptoQuant, posted an <a href="https://cryptoquant.com/insights/quicktake/658bebcaa7c84d15517fb12e-Identifying-Near-Term-Sell-Signals-Using-Mean-Spot-Exchange-Inflows" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">analysis</a> using one of the key indicators for Bitcoin. 
The analysis used the Mean Spot Exchange Inflows metric. For starters, a spot exchange rate is the current price at which a person could exchange a crypto for another for delivery on the earliest possible value date. 
The metric can be effectively used to identify sell signals for a crypto. The analysis also flagged quite a few sell signals on multiple dates, such as October 2022, November 2022, February 2023, and more recently, 20th and 23rd December, 2023.
<div id="attachment_361031" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/CryptoQuant-BTC-1-2.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-361031" decoding="async" class="wp-image-361031 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/CryptoQuant-BTC-1-2.png" alt="" width="1140" height="623" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/CryptoQuant-BTC-1-2.png 1140w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/CryptoQuant-BTC-1-2-300x164.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/CryptoQuant-BTC-1-2-1024x560.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/CryptoQuant-BTC-1-2-768x420.png 768w" sizes="(max-width: 1140px) 100vw, 1140px"></a>
 Source: CryptoQuant
</div>
<h4>Any more resistance zones ahead?</h4>
Since the aforementioned analysis talked about past sell signals, AMBCrypto planned to take a look at <a href="https://ambcrypto.com/bitcoin-as-demand-soars-will-btc-prices-rush-past-2024-predictions/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BTC</a>’s liquidation levels to understand whether the king of cryptos has to witness more sell-offs in the near term. 
As per our analysis, Bitcoin’s liquidation witnessed a massive surge near the $43,900 mark. 
Therefore, in order to kickstart a bull rally, BTC has to go above that level. If it manages to do that, then BTC will face another possible resistance near the $45,000 mark, as evident from the fluorescent lines on the liquidation heatmap.
<div id="attachment_361036" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-1-7.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-361036" decoding="async" class="wp-image-361036 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-1-7.png" alt="" width="1482" height="736" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-1-7.png 1482w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-1-7-300x149.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-1-7-1024x509.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/newplot-1-7-768x381.png 768w" sizes="(max-width: 1482px) 100vw, 1482px"></a>
 Source: Hyblock Capital
</div>
Is your portfolio green? Check the <a href="https://ambcrypto.com/calculator/bitcoin-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BTC Profit Calculator</a>&nbsp;
To check whether <a href="https://ambcrypto.com/what-bitcoin-hodlers-are-up-to-as-btc-targets-45k/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BTC</a> will be able to start a bull rally, we took a look at the coin’s daily chart. Our analysis found that BTC’s price entered a squeezed zone, suggesting a few slow-moving days ahead. 
Its MACD also displayed a bearish crossover. On top of that, both BTC’s Relative Strength Index (RSI) and Chaikin Money Flow (CMF) registered downticks, hinting at a red price chart as we end 2023.
<div id="attachment_361037" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-28_14-31-48.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-361037" decoding="async" class="wp-image-361037 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-28_14-31-48.png" alt="" width="1814" height="791" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-28_14-31-48.png 1814w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-28_14-31-48-300x131.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-28_14-31-48-1024x447.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-28_14-31-48-768x335.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BTCUSD_2023-12-28_14-31-48-1536x670.png 1536w" sizes="(max-width: 1814px) 100vw, 1814px"></a>
 Source: TradingView
</div>

Odds of Bitcoin ending 2023 with a red price chart

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