Oh, what a jolly day it is for Bitcoin! The price is frolicking about like a cheeky monkey on a trampoline, but beware! If the markets catch wind of some dismal news regarding a crypto-related executive order from President Trump on this fine January 23rd, we might just see a tumble worthy of a clumsy elephant! 🐘💥
Some wise owls of the financial world are chirping that Bitcoin could be on the verge of a plummet below $96,000! Why, you ask? Because of a fancy little thing called a “diamond pattern” that’s all the rage among chart enthusiasts! 📉💎
Bitcoin’s Dazzling Diamond Dilemma
It seems our dear Bitcoin (BTC) might be gearing up for a bit of a downward jig, potentially dipping below that crystal-clear $96,000 mark. This “diamond” pattern is like a magician’s trick, hinting at a reversal of fortunes for our beloved cryptocurrency. 🎩✨
These patterns often pop up at the peak or pit of prices, but they can be as slippery as a greased pig! Crypto trader Blackmore, in a cheeky X post from January 22, wrote:
“It’s quite a tricky setup, it’s usually best to wait for it to play out, before making a move, rather than trying to get the break from structure… Technical target for this is around $94,000 – $96,000.”
Ki Young Ju, the grand wizard of CryptoQuant, has also weighed in with a prediction that Bitcoin might just dawdle or even take a snooze for a few months. In another delightful X post, he mused:
“Bitcoin might pull back or move sideways for months. Not sure the bull cycle is over as other on-chain indicators remain bullish.”
Ju’s crystal ball is gazing into the Bitcoin P&L Index, a magical momentum indicator that combines three key metrics to help investors avoid the dreaded drawdowns. 📊🔮
Can Bitcoin Maintain Its $101k Lifebuoy?
Now, hold your horses! Bitcoin might just keep its head above water if it can cling on to the precious $101,000 support. Rekt Capital, a popular crypto analyst, has been keeping a watchful eye. He tweeted on January 23:
“Bitcoin has once again revisited the Range Low of $101,000 for a retest. The retest is in progress right now and any downside wicks as part of a volatile retest could see price wick into the blue diagonal.”
But beware! If Bitcoin takes a tumble below $101,000, it could unleash a frenzy of market chaos, triggering a whopping $1.34 billion worth of long liquidations across all exchanges! 💸😱
Moreover, Ryan Lee, the chief analyst at Bitget Research, warned of tightening monetary policy pressures. In a chat with CryptoMoon, he quipped:
“A recent dip and concerns over potential global interest rate hikes have created short-term bearish sentiment. However, institutional buying, particularly from World Liberty Finance, may stabilize prices.”
As the markets hold their breath, they are now anticipating the first US interest rate cut to happen on June 18, according to the latest gossip from the CME Group’s FedWatch tool. Will it be a grand spectacle or a damp squib? Only time will tell! ⏳🎭
Read More
- GBP EUR PREDICTION
- Rumoured The Elder Scrolls 4: Oblivion Remake Dev is Working on an “Unannounced Unreal Engine 5 Remake”
- HBAR PREDICTION. HBAR cryptocurrency
- SEI PREDICTION. SEI cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- CNY RUB PREDICTION
- INJ PREDICTION. INJ cryptocurrency
- The DCU Is Better Off Without More Batman Movies for Awhile
- Wise Guy: David Chase Revisits The Sopranos in HBO Documentary Trailer
- Razer’s new cooling pad really does let you push your laptop to its limit, but wow, it’s loud!
2025-01-23 21:44