Bitcoin Bearish Indicators Threaten Bitcoin

Crypto analyst Tony Severino recently issued a warning that Bitcoin

Crypto analyst Tony Severino recently issued a warning that Bitcoin Bearish Indicators Threaten Bitcoin.

The S&P 500 monthly LMACD has begun to cross bearish and the histogram has turned red.

But there is still time for Bulls to turn this around in the next 20 days – diverging up would lead to a bullish move instead.

Confirming at the end of the month could kick off a bear market or Black Swan type event, per…

The S&P 500 monthly LMACD has started to show a bearish crossover with the histogram turning red. This is particularly significant given data from IntoTheBlock which shows that there is still a strong positive price correlation between Bitcoin and the stock market.

If Bitcoin enthusiasts fail to turn this situation around, there could be a major drop in the price of Bitcoin, which may be worse than the previous drop. Bitcoin recently fell to as low as $76,000, sparking fears that a bear market may have already begun.

However, some crypto experts like Arthur Hayes, co-founder of BitMEX, still see that a bull market is still at play in Bitcoin’s price dynamics. Hayes notes that a drop of about 30% from the current high is normal in a bull run cycle.

Dogecoin price heading towards $3, is a parabolic rise waiting? Here’s what analyst Ali Martinez has to say!

Bitcoin Recovery Prediction

Despite concerns about further declines, some analysts are still optimistic about Bitcoin’s prospects. Kevin Capital, a crypto analyst, stated that Bitcoin’s chart still looks good and things are going according to plan.

He predicts that Bitcoin might drop and test the range between $70,000 and $75,000, which he says is still in good shape.

Capital also added that a key market structure and a 3-day MACD reset could help Bitcoin hold above key support levels. US CPI data due later today could provide some relief to the market if it shows that inflation is slowing. A good inflation report and FOMC decision could help turn things around.

Current Bitcoin Price Outlook

At the time of writing, Bitcoin price is hovering around $81,860, up more than 2% in the last 24 hours according to data from CoinMarketCap. Despite some bearish predictions, the confidence of some analysts and the existing market structure give hope that Bitcoin could still maintain value above critical levels and perhaps even rebound.

Current market conditions suggest that despite the uncertainty, there are still factors that could drive a recovery in Bitcoin prices. Investors and market watchers should stay alert to macroeconomic indicators and policies from central banks that could have a major effect on the crypto market.

Conclusion

Despite some bearish signals emerging from technical analysis, there is still a chance for Bitcoin to maintain its strength in the market. Upcoming monetary policy decisions and macroeconomic data are the keys that will determine the next direction of Bitcoin price.

Pi Network Price Predictions to 2050: What to Expect?

That’s the latest information about crypto news today. Get more information about crypto academy from beginner to expert level only at Pintu Academy and enrich your knowledge about the world of crypto and blockchain.

Follow us on Google News to get the latest information about crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu Crypto via Google Play Store or App Store now.

Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.