BITCOIN PRICE PREDICTION: The extension of Selloff continue ? $BTC risk deeper losses after fall of 7%
Bitcoin is Trading at $76,142 after a fall to 73k and sharp daily drop average is $5,000 or 7.15% Its asset remain well below its MA-20($88,631.06), MA-50($89,026.77) and MA-200($103,745.24) which making it more in Down trend Pressure Momentum across all key time frame.
MOMENTUM INDICATORS All momentum indicators remain negative, with BTC struggling beneath crucial moving averages (MA-20, MA-50, and MA-200), highlighting persistent pressure in the short, medium, and long terms. The nearest resistance lies at the ($86,265.96), while there are no notable support levels above the current price. Bearish sentiment is underlined by a low RSI (28.81), an oversold CCI (–176.92), weak readings in the MACD and ADX, as well as seller dominance confirmed by Bull/Bear Power and the Awesome Oscillator.
Could Geopolitics shock triggers mass Sell off on $BTC ? Should we Expert the Fall below $75,000 on Bitcoin ?
Quick HIGHLIGHT
$BTC continues its sharp selloff Falling below $80,000 for the first time since April last year touching 75,000
1. As Geopolitics tensions triggered risk off selling erase January Gains (Plunged Below $80K)
2. $2.5B Crypto positions were liquidated mostly Long positions
3. Heavy U.S Spot Bitcoin ETF added pressure, Deeping the sell off and worsening short-term sentiment.
Selling pressure was reinforced by heavy withdrawals from U.S spot Bitcoin ETFs, which recorded $1.49 billion in net outflows during the final week of January .
Caution: Make most of your position Short $BTC Bitcon hasn't done yet, Heading to 60k
Lets take a look on $LINK based on the support price of $9.70, Will it hold as it faces the Selling Pressure ?
Here the facts: $LINK is trading at $10.03 which is below the MA-20($12.62), MA-50($12.75), MA-200($17.45).Now these all indicate Selling Pressure in Short, Medium and Long term Trending while the resistance is set at $12.46 . Oversold conditions could slow further declines, but technical readings remain negative and confirm bears are in control.
Be aware opening up Long Position bear are still in Control
WILL WEAK MOMENTUM CAUSE CONTINUATION OF SELLING IN $BNB ? Apparently its down 7.18%
Binance Coin is trading at &839.10 after dropping 7.18% today, with the season held range $835.60 an $869.80 and trading almost in intraday low. Price remain below its short medium and long term moving average
MA-20($906.50), MA-50(883.70) and MA-200($920.30) insisting ongoing selling pressure.
Momentum readings on the chart are weak: the MACD is neutral to slightly negative and the ADX remains lo, suggesting a lack of strong trend direction.
TIP: Any Trade opening on $BNB consider Selling Position