Although Bitcoin price is well carried more than $ 100,000 and staying very close to its high levels at all, there are still expectations for a huge accident that will shake the market. Friendlyrx pseudonym indicates a number of indicators for this, from size to momentum, all indicating a possible price collapse. What is the expected result of this? Psychological level loss of $ 100,000 and then decrease in previous summits.
Bitcoin price is at risk with dwindling size and momentum
In analysis, Friendlyrox High The decrease in the main measures such as momentum and size like the main engine for the expected price collapse. This comes in the middle The upscale news that dominates the main headlinesLike institutions that increase Bitcoin’s holdings and supply them on stock exchanges that decrease towards their lowest levels, which means that investors choose to keep at higher prices.
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The decrease in size was evident after bitcoin drop to less than 100,000 dollars before it was bounced in June. To date, in July, Bitcoin trading volumes have turned to a decrease, as data from Coinglass appears in fixed daily volumes less than $ 100 billion. At the same time, there was also a decrease in momentum, as the analyst pointed to a negative difference in this scale.
Moreover, Bitcoin price has also flashing a historical trend that has usually previously worked as market peaks. This is the price that reaches 50 EMA (SIS) and then restore. Friendlyrox revealed that in the past, whenever The price touched 50 EMA Then it spanned back, usually indicates an accident, and the Bitcoin price is now, and it extends beyond that.
Other metrics that also flash RSI and MACD also include both of them showing the loss of momentum as they move to negativity. All of these factors that occur together at the same time have drawn a beautiful bleak picture of the leading cryptocurrency by the maximum market.
BTC below the goals
With the assortment of homosexuals, the encryption analyst predicted approximately 50 % from here. As the volume continues to decrease and momentum slides to negativity, they expect the price of bitcoin to be looking to return to 50 EMA.
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The interesting fact here is that 50 EMA decreases to less than the peak of the previous bitcoin price, which exposes it to $ 60,000. This size accident will only be competed with Covid’s crash in 2020 and the FTX market is disrupted in 2022. However, this means that for Altcoins in all fields.
As for the time frame when this can happen, there is no specific timetable. Going to the analyst’s graph, it may take a few years until this is completely played, with the analyst closing with: “Let’s see how it is revealed.”
Distinctive image from Dall.e, Chart from TradingView.com
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