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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/expert-warns-of-further-bitcoin-losses-amidst-downtrend/" data-wpel-link="internal">Expert Warns of Further Bitcoin Losses Amidst Downtrend</a><br></p>
<p style="text-align: justify">Experienced <strong>crypto currency</strong> analyst Filbfilb warned that <a href="https://en.coin-turk.com/bitcoin-price-analysis-expert-analyst-predicts-positive-movement-as-btc-falls-below-30000/" data-wpel-link="internal">Bitcoin</a> (BTC) could have more to lose if the BTC price chart pattern continues as usual.</p> 
<h2 id="decline-alarm-in-btc">Decline Alarm in BTC</h2> 
<p style="text-align: justify">The founder of the DecenTrader trading package, in his latest update on January 19, sounded the alarm about <strong>Bitcoin</strong> reaching its lowest monthly levels. Data obtained from the 21milyon.com website confirmed that the BTC price movement dropped to $40,600 overnight, indicating a nearly 20% drop from the previous week’s local highs.</p> 
<p style="text-align: justify">Expert Filbfilb is particularly concerned with three-day time frames. By uploading a comparative chart, he showed that when the three-day chart falls below the daily 50-period simple moving average (DMA), there is a tendency for more downward movement. The chart extends up to $69,000, the all-time high seen in November 2021. The senior analyst stated in his remarks:</p> 
<blockquote> 
 <p style="text-align: justify">There’s a three-day decline with a break below the 50 DMA. There are several past examples of this.</p> 
</blockquote> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-304720 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/btc-2.webp" alt="" width="1826" height="885"></p> 
<h2 id="analyst-s-successful-prediction">Analyst’s Successful Prediction</h2> 
<p style="text-align: justify">Previously, Filbfilb had successfully predicted that Bitcoin would reach $48,000 during the announcement of the approval of United States-based spot Bitcoin exchange-traded funds (ETFs). There is a similar BTC price target for the block subsidy halving in April. Additionally, the overnight drop brought BTC/USD below the opening price for 2024. Financial commentator Tedtalksmacro, analyzing liquidity conditions, marked $40,000 as the next critical level to watch.</p> 
<p style="text-align: justify">In conclusion, crypto currency analyst Filbfilb warned that Bitcoin could lose more value due to the ongoing downtrend in BTC’s price chart pattern. This warning, supported by concerning three-day charts, was made after BTC experienced a 20% drop last week, retreating to the $40,000 levels. The analyst emphasized the uncertainty in determining Bitcoin’s future price movements, taking into account liquidity conditions and critical levels.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/expert-warns-of-further-bitcoin-losses-amidst-downtrend/" data-wpel-link="internal">Expert Warns of Further Bitcoin Losses Amidst Downtrend</a></h5>

Expert Warns of Further Bitcoin Losses Amidst Downtrend

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