HODL

Bitcoin

The post <a href="https://coinpedia.org/price-analysis/btc-price-dip-this-monday-warns-a-crash-to-38k/">Bitcoin (BTC) Price At Risk Of Dropping Nearly 10% This Week</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Starting the analysis on a bearish tone, Bitcoin starts the week with a quick drop of 1% at press time as the momentum releases. Following the days of consolidation, the BTC price fails to gain any positive influence from the S&amp;P 500, reaching its all-time high in two years.&nbsp; 
With the total crypto market cap at $1.573 trillion testing the 50-day EMA, Bitcoin shows intense bearish signals.&nbsp; 
However, despite the sentiments turning lukewarm, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin price prediction</a> based on Halving and potential rate cuts are bullish.&nbsp; 
<h2 class="wp-block-heading" id="h-bitcoin-price-warns-a-trendline-breakdown-for-a-6-downside">Bitcoin Price Warns A Trendline Breakdown For A 6% Downside</h2> 
Following a consolidating end to the bearish last week, the sellers are ready for high-activity moves this week. With a downfall of 1.08% at press time, the BTC price is testing the crucial support zone at the $41K mark.&nbsp; 
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 <img decoding="async" width="1024" height="483" src="https://image.coinpedia.org/wp-content/uploads/2024/01/22105212/image-116-1024x483.png" alt="" class="wp-image-263107" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/22105212/image-116-1024x483.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/22105212/image-116-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/22105212/image-116-768x362.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/22105212/image-116-1536x725.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/22105212/image-116-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/22105212/image-116.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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 Source – <a href="https://www.tradingview.com/x/PcyBIHdA/">Tradingview</a>
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With the buyers already losing the 50-day EMA and the 23.60% Fibonacci level of the recent upswing, the sellers dominate the short-term trend. Further, the rising intensity may soon result in a more severe pullback in BTC price, putting a dent in the higher low formation.&nbsp; 
The ongoing battle for the upcoming trend depends on the support trendline in action. The marked trendline remains a crucial reversal spot for the BTC price in confluence with the support zone.&nbsp; 
<h2 class="wp-block-heading" id="h-option-data-suggests-a-pivotal-juncture">Option Data Suggests A Pivotal Juncture</h2> 
With the open interest over all the exchanges for Bitcoin standing at $14.29 Billion, Coinglass shows Calls accounting for 208,692.47 BTC and Puts at 95,852.52 BTC. This gives a put-call ratio of less than 1, suggesting traders are interested in more call options.&nbsp; 
However, the PCR ratio does not include the volumes of the contracts traded. Nevertheless, the volumes are also bullish, as per Coinglass, with 54.42% of the volume being calls.&nbsp; 
The lack of clarity over the expiration dates questions the credibility of the above metrics and warns of an otherwise trend. Moreover, the PCR ratio can be a reversal sign as the market potentially signals an overbought phase.&nbsp; 
The BTC price trades at $41,003 at press time, with an intraday candle teasing a breakdown rally.&nbsp; 
MACD Indicator: After the recent bearish crossover, the MACD and signal lines cross under the halfway line. Hence, the momentum indicator warns of a declining trend in Bitcoin.&nbsp; 
<h2 class="wp-block-heading" id="h-will-btc-price-hodl-the-fort-at-40k">Will BTC Price HODL The Fort At $40K?</h2> 
As the sentiment crisis grows heavier, the crucial support zone at the $41K mark begins to bend. However, the breakdown will be the definite selling signal for sideline traders. In such a case, a crash in BTC price is expected to reach the 38.20% Fibonacci level at $38,642. 
Conversely, a bullish reversal can result in a bounce back to the overhead resistance at $46,758.

Bitcoin (BTC) Price At Risk Of Dropping Nearly 10% This Week

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