Journalist
Posted:
- Bitcoin’s price only moved marginally in the last 24 hours.
- Market indicators looked bearish, suggesting a price decline in the near term.
Bitcoin’s [BTC] price has somewhat taken a sideways path over the last few days as its value moved marginally. Amidst that, an analyst recently posted a new analysis highlighting the key resistance levels the king of cryptos witnessed in the recent past.
A look at Bitcoin’s sell signals
As mentioned above, AMBCrypto found that BTC’s price took a sideways path in the recent past as its value increased by only 0.7% in the last 24 hours.
At the time of writing, BTC was trading at $43,012.40 with a market capitalization of over $842 billion. While that happened, DanBTC916, an author and analyst at CryptoQuant, posted an analysis using one of the key indicators for Bitcoin.
The analysis used the Mean Spot Exchange Inflows metric. For starters, a spot exchange rate is the current price at which a person could exchange a crypto for another for delivery on the earliest possible value date.
The metric can be effectively used to identify sell signals for a crypto. The analysis also flagged quite a few sell signals on multiple dates, such as October 2022, November 2022, February 2023, and more recently, 20th and 23rd December, 2023.
Source: CryptoQuant
Any more resistance zones ahead?
Since the aforementioned analysis talked about past sell signals, AMBCrypto planned to take a look at BTC’s liquidation levels to understand whether the king of cryptos has to witness more sell-offs in the near term.
As per our analysis, Bitcoin’s liquidation witnessed a massive surge near the $43,900 mark.
Therefore, in order to kickstart a bull rally, BTC has to go above that level. If it manages to do that, then BTC will face another possible resistance near the $45,000 mark, as evident from the fluorescent lines on the liquidation heatmap.
Source: Hyblock Capital
Is your portfolio green? Check the BTC Profit Calculator
To check whether BTC will be able to start a bull rally, we took a look at the coin’s daily chart. Our analysis found that BTC’s price entered a squeezed zone, suggesting a few slow-moving days ahead.
Its MACD also displayed a bearish crossover. On top of that, both BTC’s Relative Strength Index (RSI) and Chaikin Money Flow (CMF) registered downticks, hinting at a red price chart as we end 2023.
Source: TradingView
Journalist
Posted:
- Bitcoin’s price only moved marginally in the last 24 hours.
- Market indicators looked bearish, suggesting a price decline in the near term.
Bitcoin’s [BTC] price has somewhat taken a sideways path over the last few days as its value moved marginally. Amidst that, an analyst recently posted a new analysis highlighting the key resistance levels the king of cryptos witnessed in the recent past.
A look at Bitcoin’s sell signals
As mentioned above, AMBCrypto found that BTC’s price took a sideways path in the recent past as its value increased by only 0.7% in the last 24 hours.
At the time of writing, BTC was trading at $43,012.40 with a market capitalization of over $842 billion. While that happened, DanBTC916, an author and analyst at CryptoQuant, posted an analysis using one of the key indicators for Bitcoin.
The analysis used the Mean Spot Exchange Inflows metric. For starters, a spot exchange rate is the current price at which a person could exchange a crypto for another for delivery on the earliest possible value date.
The metric can be effectively used to identify sell signals for a crypto. The analysis also flagged quite a few sell signals on multiple dates, such as October 2022, November 2022, February 2023, and more recently, 20th and 23rd December, 2023.
Source: CryptoQuant
Any more resistance zones ahead?
Since the aforementioned analysis talked about past sell signals, AMBCrypto planned to take a look at BTC’s liquidation levels to understand whether the king of cryptos has to witness more sell-offs in the near term.
As per our analysis, Bitcoin’s liquidation witnessed a massive surge near the $43,900 mark.
Therefore, in order to kickstart a bull rally, BTC has to go above that level. If it manages to do that, then BTC will face another possible resistance near the $45,000 mark, as evident from the fluorescent lines on the liquidation heatmap.
Source: Hyblock Capital
Is your portfolio green? Check the BTC Profit Calculator
To check whether BTC will be able to start a bull rally, we took a look at the coin’s daily chart. Our analysis found that BTC’s price entered a squeezed zone, suggesting a few slow-moving days ahead.
Its MACD also displayed a bearish crossover. On top of that, both BTC’s Relative Strength Index (RSI) and Chaikin Money Flow (CMF) registered downticks, hinting at a red price chart as we end 2023.
Source: TradingView
Great write-up, I¦m regular visitor of one¦s site, maintain up the nice operate, and It’s going to be a regular visitor for a long time.
I think this site has got some really great info for everyone. “As we grow oldthe beauty steals inward.” by Ralph Waldo Emerson.
Hey very nice website!! Guy .. Excellent .. Wonderful .. I’ll bookmark your site and take the feeds also?KI am happy to search out numerous helpful information here within the publish, we’d like work out extra strategies in this regard, thank you for sharing. . . . . .
WONDERFUL Post.thanks for share..more wait .. …
you’re really a good webmaster. The site loading speed is amazing. It seems that you are doing any unique trick. Furthermore, The contents are masterpiece. you’ve done a magnificent job on this topic!
buy generic clomiphene without dr prescription where buy cheap clomiphene pill how to buy cheap clomiphene can i order generic clomid pills can you buy clomid prices clomid cost australia buying cheap clomid
The depth in this ruined is exceptional.
This is the kind of enter I recoup helpful.
azithromycin for sale – tinidazole usa metronidazole 400mg without prescription
buy propranolol pill – methotrexate 5mg cheap buy methotrexate 10mg sale
clavulanate for sale – atbioinfo.com buy cheap acillin
buy esomeprazole 20mg generic – anexamate.com purchase esomeprazole without prescription
order generic coumadin 2mg – https://coumamide.com/ purchase hyzaar sale
meloxicam 7.5mg ca – relieve pain meloxicam 7.5mg over the counter
Excellent post. I was checking continuously this blog and I’m impressed! Extremely helpful information specially the last part 🙂 I care for such info much. I was looking for this certain info for a long time. Thank you and best of luck.
deltasone 5mg uk – apreplson.com buy generic prednisone online
buy cheap ed pills – site buy erectile dysfunction medication
diflucan 100mg over the counter – site forcan pills
escitalopram order – escita pro buy lexapro generic
cenforce 50mg drug – https://cenforcers.com/# oral cenforce
buy cialis online without prescription – on this site buying cialis generic
buy zantac paypal – https://aranitidine.com/ ranitidine over the counter