Jump to content

Is the recent price drop in bitcoin a warning sign or a buying opportunity?


Recommended Posts

After several sideways trading sessions, the price of BTC has finally taken an exciting swing lower, raising the possibility of significant price movement in the future. According to several observers, this pattern presents a fantastic opportunity for Bitcoin investors to buy the dip and profit.

 

Not everyone, however, is upbeat about the recent price decline; some remarked that the market was shocked by the extreme bearish momentum below the immediate support level and that long-term holders are losing their positive sentiments, which may open the door for them to close their positions.

Is the current BTC price decline a buying opportunity?

Investors are once again alarmed after a recent decline in the price of Bitcoin erased a more than 50% rise from January. Bitcoin has turned investment portfolios red and doesn't appear to be turning higher. While some investors are apprehensive, analysts reassure them by pointing out that the price drop presents a lucrative opportunity to buy additional Bitcoins in order to maximise gains in the future bull run.

Messari, an on-chain analytics company, found that the FTX's collapse had had a greater impact on Bitcoin pricing than macroeconomic factors like inflation, job growth, and interest rate hikes. The company claimed that after FTX's liquidation, the price of bitcoin fell by 25%.

However, Bitcoin's on-chain activity did not decline despite a strong negative divergence and many bankruptcy filings in the sector. The number of Bitcoin addresses with non-zero balances is increasing exponentially, according to Glassnode.

Quote

It is reported that the metric rose above 43.8 million this week, signifying investors’ entry amid the market dip.

Bitcoin is Getting Ready for a Huge Surge –

The price of bitcoin is neutral from the previous day as a result of sellers opening short bets  when BTC troubled to trade above its crucial price point of $23K.

A bullish move in the BTC price chart is expected by the end of February as the Stochastic RSI makes a bullish cross inside its oversold support region, which previously marked a bullish rally in January. A steady rise in volumes could push the bitcoin price prediction for 2023 to $43,959.19 as per coinpedia. In contrast, the price of the star crypto could sink to a low of $23,218.00.

10 jan BTC.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,996
    • Total Posts
      95,333
    • Total Members
      43,611
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    max50
    Joined 25/09/23 08:48
  • Posts

    • Zscaler Inc., Elliott Wave Technical Analysis Zscaler Inc., (ZS:NASDAQ): Daily Chart, 25 September 23 ZS Stock Market Analysis: We have been monitoring this stock as we were mainly looking for continuation higher after what seemed to be an initial move to the upside followed by a corrective downward move. At this stage the main scenarios are two. Either we just made wave (i) of {c} and we are looking to resume higher or else we’ve had a short wave {c} and we could be continuing lower.   ZS Elliott Wave Count: Wave (ii) of {c}. ZS Technical Indicators: 20EMA as support.   ZS Trading Strategy: Looking for longs into wave (iii). TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!         Zscaler Inc., ZS: 4-hour Chart, 25 September 23 Zscaler Inc.,Elliott Wave Technical Analysis ZS Stock Market Analysis: Looking for a potential three wave move into wave (ii) to then have additional confirmation of upside resumption. We currently stand at the 50% retracement, with invalidation below wave (i).   ZS Elliott Wave count:  Wave (ii) of {c}. ZS Technical Indicators: Between averages. ZS Trading Strategy: Looking for longs after upside confirmation.
    • WD Gann Said over 100 years ago "When TIME & PRICE BALANCE, the trend HAS to change" . Yes, there is a definite maths relationship, Via Gann or Elliot-waves. The pity is I cannot get Gann Angles on IG as they are not properly defined as per Gann, and do NOT REMAIN FIXED AT THOSE ANGLES WHEN YOU CHANGE TO ANY TIMEFRAME!!!!!!!! Even the Gann fan angles, used by all brokers, are a joke. These angles are not set arbitrarily as the system allows, and no means to measure angles!!!!  
    • Making money through trading involves analyzing markets & making informed decisions. One buys assets at low prices & sells them high.To break it down, traders study charts, news, and economic indicators to spot potential opportunities. They use technical analysis to identify patterns and trends and fundamental analysis to assess the health of a market. Timing is key – traders aim to enter and exit positions at the right moments to maximize profit.Also, there are some tips on how to make money fast – they're out there, and they work. But remember, trading isn't a guaranteed shortcut to quick cash. It takes discipline, risk management, and continuous learning.
×
×
  • Create New...
us