Analysts Warn Say Bitcoin Fit Reverse As Technical Signals Dey Flash Bearish; Gold And Floki Dem Forecast Say Dem Go Make Notable Moves
Bitcoin don show one strong sign say e go fall for the weekly SuperTrend indicator—naim be the first time since 2022—dey make top analysts dey warn say e fit reverse from im recent up-trend. The last time this kind sign show, e make Bitcoin fall by 60% after FTX crash. Even though BTC/USD still strong and close to all-time highs, analysts like Tony Spilotro and Bluntz don point out say the momentum dey weak and get bearish divergence for the daily chart, wey be say na US dollar weakness cause am pass organic buying. Bluntz, wey be well-known crypto analyst, dey warn traders make dem no hold long positions too much and e emphasize say the risk of price pullback don dey high. The bearish divergence na big deal, because the last time e happen na one year ago. Technical levels don dey for focus, traders dey watch for weekly close above the upper Bollinger Band ($108,507) to confirm more gains. If e no hold above key support, Bitcoin fit go back below $50,000, wey fit also affect major altcoins negatively. But if e close strong, e go confirm say the bull trend still dey. Other assets too dey under watch: Bluntz dey use Elliott Wave analysis for gold, e talk say e fit surge to $3,600 after e finish one ABC corrective phase, from im current $3,221. For Floki (FLOKI), e expect small dip to $0.00008 before e fit rally to $0.00018, with the analyst considering entry for this lower level. Traders don dey advised to monitor technical indicators well-well, practice careful risk management, and do their own research, as market conditions dey volatile and predictions still dey speculative. The coming weeks don dey seen as critical for determining whether Bitcoin go extend im bullish cycle or enter a long correction, with ripple effects for altcoins and related digital assets.
Bearish
De latest signal dem, including one rare bearish SuperTrend indicator for weekly chart and serious bearish divergence for daily chart, dey show say Bitcoin price fit change direction go down. Before before, when dis kind signal show, market dey fall serious, like di 2022 drop after FTX scatter. Even though Bitcoin dey perform well recently, di rally seem like e dey come from outside things (like US dollar weaka) instead of people really wan buy am. If Bitcoin no fit break and close above strong resistance levels like di upper Bollinger Band, e get big risk say e go fall sharply and price fit go below $50,000. If dat happen, e go make crypto market fear more and altcoins go suffer. Even though e still possible for Bitcoin to go up if e close strong above resistance, as e be now, things no good, with plenty up and down, so traders gats dey careful.