BTC Bitcoin Chart Prediction
If you haven`t sold the BTC top:
Now you need to know that the summer decline in Bitcoin's price, despite multiple ETF filings, can largely be attributed to the massive selling pressure from several key sources like Mt. Gox, Silk Road, FTX, and Germany.
This influx of supply overwhelmed the market, and there simply wasn't enough demand to absorb it.
I think that the purpose of these ETFs is likely to stabilize Bitcoin rather than drive its price up dramatically. They're designed to bring more legitimacy and structure to the market.
As for the technical outlook, the current formation of a falling wedge could indicate a short-term price increase. However, the expected retracement suggests that any near-term rally might be temporary.
Longer term, I think Bitcoin has the potential to break higher, especially with more regulatory clarity and broader adoption. Reaching 80K by the end of the year seems possible, but a lot will depend on macroeconomic factors and the broader risk appetite in the crypto space.
Now you need to know that the summer decline in Bitcoin's price, despite multiple ETF filings, can largely be attributed to the massive selling pressure from several key sources like Mt. Gox, Silk Road, FTX, and Germany.
This influx of supply overwhelmed the market, and there simply wasn't enough demand to absorb it.
I think that the purpose of these ETFs is likely to stabilize Bitcoin rather than drive its price up dramatically. They're designed to bring more legitimacy and structure to the market.
As for the technical outlook, the current formation of a falling wedge could indicate a short-term price increase. However, the expected retracement suggests that any near-term rally might be temporary.
Longer term, I think Bitcoin has the potential to break higher, especially with more regulatory clarity and broader adoption. Reaching 80K by the end of the year seems possible, but a lot will depend on macroeconomic factors and the broader risk appetite in the crypto space.
BUYSELL indicators tradingindicators.store/
TRADING COURSE bit.ly/tradex
Private Signals patreon.com/PremiumOptionsSignals
RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
TRADING COURSE bit.ly/tradex
Private Signals patreon.com/PremiumOptionsSignals
RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
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