2024

Bitcoin

April

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<a href="https://u.today/747000-btc-bought-at-crucial-bitcoin-demand-zone-details" rel="noopener noreferrer nofollow">Bitcoin</a>, the largest cryptocurrency by market cap, seems to be at a decisive juncture in its price action, with a key indicator issuing a warning that could imply a potential downturn in its value. However, there is a catch that might be worth considering.&nbsp;
<a href="https://twitter.com/ali_charts/status/1783011223304376355" rel="noopener noreferrer nofollow">Ali</a>, a crypto analyst, indicated in a recent tweet that the popular TD Sequential indicator has flashed a sell signal on Bitcoin's 12-hour price chart.&nbsp;
Supporting this outlook is the fact that Bitcoin is currently facing resistance at the mid-level of a parallel channel. If Bitcoin faces rejection at this key price level, it might trigger a short-term price drop.&nbsp;
<blockquote>
 The TD Sequential indicator has flashed a sell signal on the 12-hour chart, with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> facing resistance at the mid-level of a parallel channel!Exercise caution, given this indicator's track record. Particularly watchful if <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> drops below the $65,500 support level. <a href="https://t.co/m7iquoi1L5" rel="noopener noreferrer nofollow">pic.twitter.com/m7iquoi1L5</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1783011223304376355?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 24, 2024</a>
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Ali adds a note of warning for Bitcoin buyers to exercise caution, given this indicator's track record. The most important thing to watch is if BTC drops below the $65,500 support level.
BTC had fallen beneath this highlighted level at the time of writing, down 2.67% in the last 24 hours to $65,168. Mid-April has historically been a period of price weakness for BTC.
According to the most recent analysis from <a href="https://twitter.com/GreeksLive/status/1783134416795234515" rel="noopener noreferrer nofollow">Greekslive</a>, implied BTC volatility declined rapidly after the <a href="https://u.today/bitcoin-price-alert-historical-trends-spell-trouble-for-btc-as-halving-looms" rel="noopener noreferrer nofollow">BTC halving</a>, falling from 75% to 65% to mark a new low since March.&nbsp;&nbsp;
The crypto community watches with rapt attention to deduce BTC's next price move as it navigates its post-halving trajectory.&nbsp;
<h2 id="here-s-the-catch">Here's the catch</h2>
Despite the warning about BTC's near-term price, investors have an underlying sentiment of optimism.&nbsp;
According to on-chain analytics firm <a href="https://twitter.com/santimentfeed/status/1782954556013547562" rel="noopener noreferrer nofollow">Santiment</a>, Bitcoin's key whale tier holding between 1,000 and 10,000 BTC, has accumulated 266,000 more BTC since the start of 2024. This translates to an accumulation of 1.24% of the entire supply. There is also a high degree of FOMO.
Likewise, other BTC metrics are showing an uptick. Bitcoin analyst Willy Woo indicated that Bitcoin miner revenues have seen a huge jump to record highs after the halving. Likewise, Bitcoin's supply distribution continues to improve over time, with a sharp jump in the number of "whales" on-chain recorded over the last two months.&nbsp;

Bitcoin Price Alert: Key Indicator Issues Warning, But There's a Catch

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