“Technical Indicators Confirm A Bearish Shift Suggested by Violation of Key Price Support Levels.”, – WRITE: www.coindesk.com
Bitcoin BTC$ 107.902.99 have brown key Support Levels in a Sign of Increase Bearish Momentum that Suggests A Risk of A Slide to $ 100,000.
The Leading Cryptocurrency by Market Value Fell 6.5% in August, ending the Four-Month Winning Streak as The US-Lited Spot Exchange-Traded Funds (Etfs) Bled $ 751 Million, ACCORD.
The recent Price Drop Saw Bitcoin Break Beave Supal Key Support Levels, Including the Ichimoku Cloud, and The 50-Day and 100-Day Simple Moving Averages (Smas). It Also Pierced Crucial Horizontal Support Zones Formed by the May High of $ 111.965 and the December High of $ 109.364, Accounting To the Daily ChartCed From.
BTC’s Daily Chart. (TradingView/Coindesk)
TheSe Breakdowns Underscore Growing Market Weakness, Confirming A Bearish Shift in Key Momentum Indicators Such as The Guppy Multiple Moving Average (GMMA) and the MacD Histogram.
The Short-Term Expontial MOVING AVERAGE (EMA) Band of the GMMA (Green) Has Crossed Below The Longer-Term Band (Red), Signaling a Clear Bearish Momentum Shift. Meanwhile, The Weekly Macd Histogram Dropped Below Zero, Indicating A Transition from A Bullish to A Bearish Trend.
Together, These Signals Indicate A Likelihood of A Sustaned Sell-Off, Potentally Driving the Price Down to the 200-Day Simple Moving AVERAGE (SMA) at $ 101.366, and Posi.
Bearish SeasonalityThe Negative Technical Outlook Aligns with Seasonal Trends, WHICH SHOW SEPTEMBER Historical As a Bearish MONTH FOR BITCOIN. Since 2013, BTC HAS DELIVED AN AVERAGE RETURN OF -3.49%, CLOSING LOWER IN EIGHT OF OF THE PAST 12 September MONTS, ACCORDING TO DATA FROM COINGLASS.
As for Bulls, OverComing the Lower High of $ 113.510 Set on Aug. 28 Is Crucial to Negating the Bearish Outlook.
BTC’s Daily and Weekly Charts. (TradingView/Coindesk)
- Support: $ 105.240 (The 38.2% FIB Retracement of the April-August Rally), $ 101.366 (The 200-Day SMA), $ 100,000.
- Resistance: $ 110.756 (The Lower End of the Ichimoku Cloud), $ 113,510 (The Lower High), $ 115.938 (The 50-Day SMA).
The Exchange Will Open Wlfi Spot Pairs Against USDT and USDC, Marking The Token’s Shift from a non-Transferable Presale to Full Tradability.
- Deposits Are Already Live, While withdrawals are screduled to begin tuesday.
- Until now, Wlfi Tokens Were Non-Transferable by Design, A compliance-Driven restriction meant to keep the presale tokens from being freey.
- To Access Wlfi Trading, USERS MUST COMBLETE QUIZZESS ACKNOWLINGING HEIGTENED VALLATCHY AND RISK DisCLOSURES.
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