PANews, November 24 news, according to well-known encryption analyst Ali's analysis, Bitcoin has shown 5 sell signals in the past month.
First of all, since January 2022, the monthly MACD of Bitcoin $BTC has turned bearish for the first time.
In addition, the 50-day moving average on the daily chart has crossed below the 200-day moving average, forming a “death cross.”
Bitcoin has also lost support at the 50-week moving average, a level that historically often indicates a significant pullback.
At the same time, the SuperTrend indicator on the weekly chart has issued a sell signal, which has long-term reliability in trend reversals.
In addition, the TD Sequential indicator on the dual-month line has also issued a sell signal for Bitcoin, with the last two similar signals triggering adjustments of 78% and 32%, respectively.
If Bitcoin further retraces, key support levels may be at $75,740, $56,160, and $52,820.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Iran Uses Bitcoin for Hormuz Strait Oil Transit Fees, But Stablecoins Handle Majority of Actual Fund Transfers
Iran is utilizing Bitcoin for oil transit fee settlements via the Strait of Hormuz, but stablecoins dominate actual fund transfers in these transactions.
GateNews6m ago
Galaxy Research Chief: U.S. OFAC Sanctions List Involves 518 Bitcoin Addresses
The U.S. Treasury's OFAC sanctions list includes 518 Bitcoin addresses that have significantly engaged in crypto transactions, currently holding about 9,306 BTC valued at $707 million, highlighting the relationship between cryptocurrency and financial regulation.
GateNews4h ago
Bitcoin Swings on Hormuz Strait Reports, Triggering $762M in Liquidations
Bitcoin rose to $78,000 but dropped to $76,091 following reports of tensions in the Strait of Hormuz. Iran's actions triggered $762 million in liquidations among traders, with implications for crypto markets as Iran accepts payments in bitcoin and other currencies to navigate sanctions.
GateNews6h ago
Former UK PM Liz Truss Publicly Endorses Bitcoin as Tool Against Currency Debasement
Former UK Prime Minister Liz Truss criticized Britain's economic trajectory, citing high taxes and regulations. She advocates for Bitcoin to combat currency debasement and is organizing a conference to promote a movement for sovereignty and freedom.
GateNews18h ago
BTC breaks below 76000 USDT
Gate News bot message, Gate market data shows that BTC has broken below 76000 USDT, current price is 75996.9 USDT.
CryptoRadar19h ago
