Skip to main content

##These 4 Signs Show Bitcoin Is Likely to See a “Big” Move Down: Analyst

Free Crypto Signals App -



https://play.google.com/store/apps/details?id=com.freecryptosignals.app


                                       
          Visit - https://cryptobotauto.com



For all latest news update on cryptocurrency, Free crypto signals & bitcoin binance auto trading BOT visit above given website




Bitcoin has already seen a strong reversal from the highs seen earlier this week.


As of the time of this article’s writing, the flagship cryptocurrency trades at $9,200. This comes after it fell as low as $8,950 during a flash sell-off on Wednesday, with the price being depressed by a leveraged-long liquidation event.


Unfortunately for bulls, it could be just the start of a larger move lower.



Bitcoin Could See a Strong Correction



Analyst Cole Garner is long-term bullish on Bitcoin, but he sees a number of reasons why BTC’s next “big” move is likely down. They are as follows:




Glassnode reports that BTC miners have withdrawn the largest number of coins from their wallets to exchanges in over a year.




Institutions are still bearish on cryptocurrencies, at least according to CME data.
The Bitfinex “buy wall” around $8,500-9,000 is being eroded. That means there is a lower likelihood of BTC bouncing when it reaches that level.



Bitcoin’s order book delta has been “skewed massively to the sell side for almost six weeks.”
Garner isn’t the only analyst currently expecting a correction.




As reported by NewsBTC previously, a trader noted that the entire crypto market is primed to see a 25% drop. Bitcoin dropping 25% would imply a price of ~$7,000 and Ethereum doing the same would result in a move to approximately $175.



1xBit: anonymous betting, the best odds & a generous 7 BTC Welcome Bonus! NEWXBIT promo code to get a 125% 1st deposit bonus now!
He shared the chart below to illustrate this sentiment. It shows that the crypto market failed to break out of an RSI downtrend and is struggling to maintain support levels.



Bitcoin price chart shared by pseudonymous crypto trader Dave the Wave (@Davthewave on Twitter). Charts from TradingView.com



The S&P 500 Will Decide BTC’s Fate


While there are these signs, arguably what decides Bitcoin’s fate moving forward is the directionality of the S&P 500. After all, analysts at JP Morgan, Goldman Sachs, and in the cryptocurrency space have all observed correlations between the two over recent months.


Bears will be pleased to hear that analysts are starting to expect a retracement in stocks. (Notably, the retail audience is anything but bearish, buying everything they can. Retail investors are even going big into bankrupt companies like Hertz.)

Jeremy Grantham is a stock trader that predicted some of the biggest macro declines in this asset class over the past few decades.

Grantham now says that the ongoing rally in American equities is one without “precedence” and one that is “crazy.” He even went as far as to say that a “bubble” is forming.



Comments

  1. well, that's a great blog. Really so much impressive and i love that type of post. thank you.

    If you searching for a legit financial service .Check it out. Link below.
    legit dark web
    Unclaimed Mystery Box
    legit PayPal transfer dark web
    dark web financial services .

    Please carry on and keep blogging . Thanks again

    ReplyDelete

Post a Comment

Popular posts from this blog

###Crypto exchange Coinbase discloses how many users it has

 Free Crypto Signals App - https://play.google.com/store/apps/details?id=com.freecryptosignals.app          Visit - https://t.me/cryptosignalalert For more latest news update prediction on Cryptocurrency, Free Crypto signals & Bitcoin Binance auto Trading BOT visit above given Telegram channel Coinbase has continued to enjoy phenomenal growth, according to a new report. It now has over 35 million users in 100 countries. In brief Coinbase now has 35 million users, it revealed in a new report. It now has five million more users than it did last July. It also noted the phenomenal growth of DeFi—but said the technology is still very young Coinbase now has over 35 million users in over 100 countries, the world’s most popular cryptocurrency exchange said in a new report.  San Francisco-based Coinbase said in its Crypto H1 2020 institutional review that it now operates the largest regulated exchange in the world—and it is ...

#210% Profit on this #NKN/USDT on Binance Futures - Best Crypto Trading Bots of 2021 copied all Signals via cornix BOT in Account

       Free Crypto BOT - https://t.me/s/cryptosignalalert Crypto Signals Mobile APP -   https://play.google.com/store/apps/details?id=com.freecryptosignals.app Crypto Signals for Binance spot, Bybit, Binance Futures, Bitmex, Kraken, Bitseven, CoinDCX, WazirX, Coinswtich, Bittrex & many other exchanges accuracy around 80-90% make daily profit in our account. We provide daily Crypto Signals for short and long term hold coins. We are experts in fundamental and technical analysis, providing top-rated Crypto signals, to help you grow your crypto investments! We are masters in Crypto Signals, Binance Future Signals, Leverage Signals We too provide FREE Bitcoin BOT which works on our account - You can easily make more money when you have the best automated bot for trading. Our BOT copied all signals via Cornix Bot in your Account.  You dont need to have VPS to run our BOT - we provide all the options through which you can run the BOT from your mobile

##Ex-Nissan CEO paid $500,000 in cryptocurrency to escape Japan, says US

 Free Crypto Signals App - https://play.google.com/store/apps/details?id=com.freecryptosignals.app          Visit - https://t.me/cryptosignalalert For more latest news update prediction on Cryptocurrency, Free Crypto signals & Bitcoin Binance auto Trading BOT visit above given Telegram channel  Former Nissan CEO Carlos Ghosn's son sent half a million dollars in cryptocurrency to people who smuggled his father to Lebanon, according to US prosecutors. In brief Carlos Ghosn's son paid $500,000 in cryptocurrency to those who organizes his father's escape from Japan, according to prosecutors. The former CEO of Nissan was accused of financial crimes and arrested in Japan in 2018. A US Army Special Forces veteran and his son smuggled Ghosn to Lebanon last December. US prosecutors allege that Anthony Ghosn, the son of Nissan’s ex-chairman Carlos Ghosn, paid $500,000 in cryptocurrency to one of the US residents who allegedl...