April 23, 2024

Likwid Blog | Bitcoin is depressed.

Likwid Blog | Bitcoin is depressed.

Over the past 7 days, the Bitcoin rate has fallen from $ 10,100 to $ 7,736 following a sharp night rollback

It should be noted that the sharpthe market crash occurred on the eve of the expiration of bitcoin options on Deribit and LedgerX exchanges, as well as CME futures.

According to Arcane Research, priceThe first cryptocurrency in most cases falls shortly before the execution of futures contracts. This may be due to the actions of cautious investors trying to close their positions in order to avoid excessive volatility, and to possible price manipulation.

Some analysts have already announced the completion of an uptrend. Predict price movement up to the level of $ 4000

According to my forecast: We are at the price level of a high probability of resumption of consumer demand from investors, which can happen on an actual futures contract.

There are currently no explicitreversal patterns. But it should be noted that price fixing above the price range of 8500-8700 indicates a continuation of the upward trend. The initial movement potential is 11,000 / potential - 12,000.