Crypto Trader Says Bitcoin In 'Unsafe Territory,' Likely To Plunge To $44,000
Portfolio Pulse from Khyathi Dalal
Crypto trader Blockchainedbb predicts Bitcoin (BTC) could drop to $44,000 if it closes below the 200 Daily EMA. He advises against waiting for a bounce and suggests exit points for various cryptocurrencies. Charles Edwards of Capriole Fund also expects a correction.
July 05, 2024 | 6:09 pm
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NEGATIVE IMPACT
Blockchainedbb predicts Bitcoin could drop to $44,000 if it closes below the 200 Daily EMA. Historical data shows Bitcoin suffers significant losses when it loses this level.
The prediction is based on historical data showing Bitcoin's significant losses when it closes below the 200 Daily EMA. This could lead to a short-term price drop.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Blockchainedbb suggests exiting the Ethereum ETF hype but mentions holding and averaging personally.
The advice to exit the Ethereum ETF hype suggests a potential short-term price drop, although the trader is personally holding and averaging.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50