Bitcoin's [BTC] next bull run may have a USDC connection, here's 'how'
that $631.5 million was pumped into BTC while $1.2 billion went out. This brought the netflow to a negative $588.8 million.On the flip side, there might be a new twist to the current BTC status. Ghoddusifar, a CryptQuant analyst, was of the
that BTC could go further down the charts and hit Delta price. Based on his analysis, BTC was forming a descending triangle pattern and as such could lead to more bearish sentiment.between the king coin and the stock market wasn’t something to be ignored. With the stock market in red, Ghodduasifar believed a decline to $17,000 was not off the cards. He said,
“Stock indices have decreased and are again above the support level. In case of a breakdown of this level of support from the stock market, we will definitely see a breakdown of the level of support for Bitcoin.” However, indications from the BTC four-hour chart showed that BTC might not be ready for a further decline. The Exponential Moving Average indicated more recovery than a bearish movement.
With the 20 EMA currently above the 50 EMA , Bitcoin had the potential to exit the 2.34% 24-hour price decrease. Still, the possibility of a reduction could not be exempted, considering that the 20 EMA looked to be in the downward direction.Subscribe to get it daily in your inbox.
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