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Cryptocurrency News Articles
Bitcoin (BTC) Whales Sold over 20,000 BTC, Worth $1.28B, as Price Appears Bearish
Sep 25, 2024 at 10:59 pm
BTC's price could decline by 10% to the $57,300 level if it closes its daily candle above $66,000 level.
Bitcoin (BTC) price might drop by 10% to the $57,300 level if it closes its daily candle above the $66,000 level, according to a technical analysis by an expert. This analysis is based on the observation that BTC whales have sold over 20,000 BTC, valued at approximately $1.28 billion, over the past 24 hours.
The analysis suggests that BTC is currently bearish, which is indicated by the large sell-off by whales and the double-top price action pattern on a daily time frame. This pattern is typically considered bearish and suggests a potential price reversal.
The technical analysis also reveals that BTC’s price could decline by 10% to the $57,300 level if it fails to close a daily candle above the $66,000 level. This analysis is based on the assumption that BTC will experience a bearish continuation.
However, it’s important to note that this analysis is subject to change and traders should always conduct their own research before making any trades.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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