Bitcoin (BTC) Price Prediction: BTC Slips Below Key Levels as Derivatives Cool and Bhutan Sells
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- Bitcoin remains under pressure, trading below Ichimoku cloud with weak recovery attempts.
- Spot outflows and derivatives contractions highlight ongoing selling and cautious sentiment.
- Bhutan’s $50M BTC sales add macro pressure despite profitable mining operations since 2019.
Bitcoin continues to face firm downside pressure on the four-hour chart, with sellers maintaining control below several critical technical thresholds. Price action remains well beneath the Ichimoku cloud, confirming a sustained bearish structure.
Lower highs and lower lows dominate the chart, while repeated failures near short-term averages reinforce fading bullish attempts. Consequently, traders remain cautious as Bitcoin trades near the $71,700 area, searching for short-term stability.
Bearish Structure Dominates the 4H Chart
Technical indicators continue to align with the broader dow…
Read The Full Article Bitcoin (BTC) Price Prediction: BTC Slips Below Key Levels as Derivatives Cool and Bhutan Sells On Coin Edition.
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Bitcoin’s slides to $70,000 triggering structural crisis that could make FTX collapse look like child’s play
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Bitcoin (BTC) Price Prediction: BTC Slips Below Key Levels as Derivatives Cool and Bhutan Sells
Share:
- Bitcoin remains under pressure, trading below Ichimoku cloud with weak recovery attempts.
- Spot outflows and derivatives contractions highlight ongoing selling and cautious sentiment.
- Bhutan’s $50M BTC sales add macro pressure despite profitable mining operations since 2019.
Bitcoin continues to face firm downside pressure on the four-hour chart, with sellers maintaining control below several critical technical thresholds. Price action remains well beneath the Ichimoku cloud, confirming a sustained bearish structure.
Lower highs and lower lows dominate the chart, while repeated failures near short-term averages reinforce fading bullish attempts. Consequently, traders remain cautious as Bitcoin trades near the $71,700 area, searching for short-term stability.
Bearish Structure Dominates the 4H Chart
Technical indicators continue to align with the broader dow…
Read The Full Article Bitcoin (BTC) Price Prediction: BTC Slips Below Key Levels as Derivatives Cool and Bhutan Sells On Coin Edition.
In This News
Coins
$ 66.24K
-9.90%Share:
In This News
Coins
$ 66.24K
-9.90%Share:
Read More
Bitcoin’s slides to $70,000 triggering structural crisis that could make FTX collapse look like child’s play