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Basitmxd
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current situation of
Bitcoin
ETFs with BlackRock holding 29 billion dollars in BTC.
#btc
#ETFs
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BTC
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+0.51%
365
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#BTC update As i said in previous post that BTC will hit 67.5k before election. after hitting 67.5k btc is showing recovery which is just a trap .In my opinion BTC can hit 65k on election day If results of the election came out late it can even decline more due to uncertainty of who gonna win . crypto markets are news reactive even a minor news can create a buying or selling pressure. Do not open long positions before elections market gonna b volatile this time . Fundamental analysis of 4 hour time frame. current price action suggests that BTC is in a consolidation phase. The RSI being in the neutral zone implies that there may be room for a move in either direction, so monitoring for volume spikes and breakouts will be crucial. Traders should watch for a breakout above $70,000 for a bullish move. till then don't open long positions wait for at least one daily closing over 70k . till than market will continue bearish correction with 65k as next target . this is not a financial advice its my opinion manage your risk accordingly .
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BTC update . as i mentioned yesterday that the BTC will continue consolidation in between 68.8k to 69.8k with no sudden buying or selling pressure . #Future scenario there is a fair amount of liquidity above 70k and below 69k with more than 50 percent of trades in short positions. US elections are also 2 days away with no clear picture of trump's winning . In light of the above parameters BTC can take a spike upward just to grab liquidity only if exchanges manipulate the market. if it West down we can see 67.5k before election day. It can further decline to 65k on election day because uncertainty in market. i Will share the possibilities after the election day in the next post it's not the investment advice manage your risk accordingly. #BTC☀ #USelection #fomo #MarketUpdates"
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Based on the 4-hour candlestick chart for BTC/USDT, here is an analysis of the current market condition and potential future movement: ### Current Observations: 1. **Price Level**: The current price is around $69,733, showing a slight increase (+0.34%). 2. **Price Pattern**: The chart indicates a recent pullback after a peak, followed by a recovery phase that shows the price attempting to consolidate. 3. **Resistance and Support**: - There is a significant resistance zone around $71,650, as highlighted by previous highs. - Support appears to be around the $68,800 region, as shown by the recent lows. 4. **Volume Analysis**: The trading volume seems stable but not significantly high, which might indicate some indecision in the market. 5. **RSI (Relative Strength Index)**: The RSI value is at 45.32, suggesting that the market is neither overbought nor oversold, indicating a neutral stance. ### Potential Future Price Movement: Given the neutral RSI and current consolidation phase, here are two possible scenarios: 1. **Bullish Case**: If the price breaks above the resistance level at $71,650 with increased volume, we could see a continuation of the upward trend, potentially targeting $73,000 or higher. 2. **Bearish Case**: If the price fails to hold the $68,800 support level and shows a significant increase in selling volume, it could decline further, potentially testing the $67,000 range or lower. ### Conclusion: The market currently appears to be consolidating, with no strong signals for immediate bullish or bearish momentum. Traders may want to wait for a breakout above resistance or a breakdown below support before making significant trade decisions. #BTC☀
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