2024

Grok

Bitcoin

Gold

<div class="finbold">
 <p class="paragraph">Bitcoin (BTC) is trading above the $47,000 level, playing exactly as reported by Finbold on January 27. Now, BTC may drop below $40,000 under specific conditions for a <a rel="noopener noreferrer nofollow" title="sell-" href="https://thebittimes.com/tag/sell.html">sell-</a>off event.</p>
 <p class="paragraph">Interestingly, this expected bull rally to around $48,000 was only the first part of a broader analysis by <em>CrypNuevo</em>. The accurate professional trader foresaw the run as needed for Bitcoin seeking lower prices in March.</p>
 <p class="paragraph">If the next steps continue to play out, according to <em>CrypNuevo</em>’s <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, Bitcoin might drop to the $36,500 zone. The leading cryptocurrency will find relevant support in this area, possibly bouncing back up immediately.</p>
 <p class="paragraph">Before that happens, the analyst says BTC can still seek the top of the wick at nearly $49,000. This would require a consolidation at around $47,000 during the weekend.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="549" src="https://cdn.thebittimes.com/images/2024/02/11/1751fc200b67fbf17ec417a187004170.webp" alt class="wp-image-154336" srcset="https://cdn.thebittimes.com/images/2024/02/11/1751fc200b67fbf17ec417a187004170.webp 1024w, https://cdn.thebittimes.com/images/2024/02/11/1751fc200b67fbf17ec417a187004170.webp 300w, https://cdn.thebittimes.com/images/2024/02/11/1751fc200b67fbf17ec417a187004170.webp 768w, https://cdn.thebittimes.com/images/2024/02/11/1751fc200b67fbf17ec417a187004170.webp 1536w, https://cdn.thebittimes.com/images/2024/02/11/1751fc200b67fbf17ec417a187004170.webp 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC/USD daily price chart. Source: <em>CrypNuevo</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-bitcoin-sell-of-invalidation">Bitcoin sell-of invalidation</h2>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444" /> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444" />
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 <p class="paragraph">However, trading cryptocurrencies is uncertain, and everything can quickly change in the proper scenario. This is why solid technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> has invalidation conditions, signaling a trend shift to the trader.</p>
 <p class="paragraph">In a <em>YouTube</em> video posted on February 9, <em>CrypNuevo</em> also highlights the invalidation points of Bitcoin’s expected sell-off to $36,500. Particularly, he says there are no meaningful price resistances above $50,000.</p>
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
  <div class="wp-block-embed__wrapper"><iframe title="BITCOIN: WHAT HAPPENS AFTER THE WICK FILL?" width="500" height="281" src="https://www.youtube.com/embed/EL-pD4-3b4Y?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
  </div>
 </figure>
 <p class="paragraph">Therefore, the <a rel="noopener noreferrer nofollow" title="sell-" href="https://thebittimes.com/tag/sell.html">sell-</a>off <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> is invalidated if BTC manages to reach and overcome the $50,000 region with enough volume. In this context, a quick run to $60,000 will be in play, offering a good risk-reward ratio for investors.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Of course, this is a game of possibilities. This is more possible, but I’m not married to this idea; I’m just watching the charts.”</p> <cite>– CrypNuevo</cite>
 </blockquote>
 <p class="paragraph">From a fundamental perspective, further developments involving the Bitcoin spot ETFs could fuel this invalidation. Additionally, the block subsidy halving in April is also an overall bullish event.</p>
 <p class="paragraph">All things considered, investors should always trade cautiously and follow Bitcoin-related news to make profitable decisions.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-sell-off-alert-price-drop-below-40k-imminent-tbt79486.html">https://thebittimes.com/bitcoin-sell-off-alert-price-drop-below-40k-imminent-tbt79486.html</a></p>

Bitcoin sell-off alert: Price drop below $40k imminent?

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