Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-predicts-bitcoin-surge-despite-crash" data-wpel-link="internal">Analyst Predicts Bitcoin Surge Despite Crash</a><br></p>
<p style="text-align: justify">Cryptocurrencies took a significant hit today, with major altcoins, including <a href="https://en.bitcoinhaber.net/bitcoin-price-and-market-dynamics-technical-analysis-insights" data-wpel-link="internal">Bitcoin</a>, experiencing substantial declines. Following the Federal Reserve’s recent interest rate announcement, <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market conditions</a> deteriorated, leading to a continued drop in prices. Amid this turmoil, a prominent market analyst provided a more hopeful outlook, offering temporary solace to market observers.</p> 
<h2 id="what-does-the-td-sequential-indicator-show">What Does the TD Sequential Indicator Show?</h2> 
<p style="text-align: justify">Ali Martinez, a well-known analyst, suggested that a critical indicator might be signaling an upward trend for Bitcoin. Using the Tom DeMark (TD) Sequential indicator, Martinez pointed out on social media platform X that Bitcoin’s hourly chart is showing potential buy signals.</p> 
<p style="text-align: justify">The TD Sequential indicator is a tool used by traders to identify potential turning points in asset prices. Martinez highlighted that historical <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data shows</a> Bitcoin often rebounds strongly in July following a negative June, with an average return of 7.98% and a median return of 9.60% during this month.</p> 
<h2 id="is-bitcoin-s-decline-over">Is Bitcoin’s Decline Over?</h2> 
<p style="text-align: justify">Despite the optimistic indicators, Martinez warned that Bitcoin’s downturn might not be finished. He pointed to the relatively low liquidation of $280.9 million in long positions and $25.4 million in short positions as evidence that the market has not seen the end of its decline. He noted that previous liquidation events have exceeded $1 billion, suggesting that either the decline isn’t over or short positions are about to vanish.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways For Investors</h2> 
<ul> 
 <li>Monitor the TD Sequential indicator for potential buy signals.</li> 
 <li>Consider historical performance trends, especially Bitcoin’s tendency to rebound in July.</li> 
 <li>Be cautious of the low liquidation volumes, which may indicate further market declines.</li> 
</ul> 
<h2 id="current-market-snapshot">Current Market Snapshot</h2> 
<p style="text-align: justify">At the time of writing, Bitcoin is priced at $58,100, marking a 2.5% drop in the last 24 hours. Earlier this week, BTC had surpassed $63,000, indicating a more significant decline than expected. The market volume for BTC decreased to $1.147 trillion, aligning with the overall market downturn. However, trading volume spiked by 43% to $40.111 billion, suggesting that investors might be panic selling due to the ongoing market slump.</p> 
<p style="text-align: justify">Factors such as governments offloading BTC and the news of Mt. Gox repaying creditors have also significantly impacted market dynamics. While the analyst remains hopeful, these factors could potentially lead to more pronounced market declines.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-predicts-bitcoin-surge-despite-crash" data-wpel-link="internal">Analyst Predicts Bitcoin Surge Despite Crash</a></h5>

Analyst Predicts Bitcoin Surge Despite Crash

목차

BH NEWS

2024년 7월 4일에 게재된 다른 기사

Most Anticipated Airdrops 2024

Bitwise Files S-1 Form for Spot Ethereum ETF Aforetime; What Next?

Analyst: VeChain Could Be the Next Big Altcoin Winner, Thanks to Bitcoin and Ethereum ETFs

UK exit poll suggests Labour Party victory, next PM Keir Starmer

Bitcoin Price Plunge: German Government’s BTC Sell-Off Adds to Market Woes

Missed the Boat on ApeCoin and Chainlink? WW3 Shiba’s Meteoric Rise is Stealing the Spotlight!

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!