Bitcoin

Ali, a prominent cryptocurrency analyst, informed his Platform X audience that Bitcoin network activity is still going down. More importantly, the expert said, big holders of the flagship digital currency BTC appear to have stepped back. Santiment reports that large transactions are on the decline. Most whales avoid dangerous situations.
Also, as Ali pointed out, the hourly Bitcoin chart is showing a BTC buy signal on TD Sequential. The analyst predicts that growth in the market will be imminent. Thomas DeMark’s most popular trading strategy is this one. It frees us from the constraints of a fixed timeframe, allowing us to reliably pinpoint market trend turning points.
A value near zero is displayed by the Bitcoin accumulation trend indicator, which Ali stressed. Large organizations are either distributing digital coins or have decided not to accumulate them anymore, according to this.
According to the expert’s earlier observations, the 4-hour chart shows that the Bitcoin rate is approaching rejection from the 200-EMA line, and yesterday, the TD Sequential indicator gave a sell signal. The expert believes that further price declines are possible because Bitcoin failed to remain above $64,000 on the 4-hour candle. Nonetheless, things are slightly different now.
The expert has confirmed that $66,250 is the new global Bitcoin resistance level. Bitcoin will be prepared to reach new all-time highs in price once it crosses that barrier.
Bitcoin prices dropped 2.47 percent in the last day, according to the most recent data available as of May 14, 2024. A total of $61,255 was invested in the flagship cryptocurrency. This asset has a market value of $1.2 trillion. In the last twenty-four hours, spot market traders transacted a total of $29.03 billion worth of virtual currency.

The number of BTC whales has decreased, according to Trader Ali.

Blocksays

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