The article discusses the current market conditions for Bitcoin and suggests that a correction pattern may be underway. Bearish signals such as reduced daily MACD and bearish short-term views are mentioned, indicating the possibility of large-scale liquidation if big support levels are breached. The price of Bitcoin has been trading within a narrow range, with volatility increasing due to brief tests of lower and higher price points. Technical indicators like the RSI and Ichimoku Cloud suggest bearish sentiment and a state of market confusion. A bearish divergence is observed in the daily chart, further supporting the idea of a correction. Opportunities for whales to accumulate Bitcoin are mentioned, with historical patterns indicating potential price appreciation. Long-term holders appear to be active, holding a significant portion of the Bitcoin supply.



Other News from Today