In a tale as whimsical as the nose of a certain Major Kovalev, Bitcoin has embarked on a swashbuckling adventure of downward descent. Once soaring high like a phoenix with $96,000 in its talons, the mighty cryptocurrency now finds itself in the doldrums, dipping below the $80,000 mark—a mere shadow of its former glory since the fateful eleventh of November. A nearly 18% nosedive in the span of a week! From the zenith of $109,588, reached on the twentieth of January, Bitcoin has shed its worth like a snake its skin, approximately 27% lighter.
Oh, the calamities that have befallen this digital gold! Trump’s tariffs have swooped in like a vulture, spot BTC ETFs are hemorrhaging funds, and the futures markets are a bloodbath of liquidations. The Fear and Greed Index, at a meager 16, whispers of “Extreme Fear.” Yet, some sages opine that from chaos, order may spring forth—either a deeper chasm or a rebound most wondrous.
The esteemed crypto seer, Scott Melker, a.k.a. “The Wolf Of All Streets,” has peered into his crystal ball and spotted a bullish divergence on multiple timelines. “BTC 4-HOUR: Bullish divergence still building,” he muses. “RSI is holding up well—if you’ve followed my musings, this is my pet signal. Oversold RSI with bullish divs building over multiple timeframes.” Alas, even the best of signals can falter, as the fates are fickle.
Technical maestro Tony “The Bull” Severino, CMT, foresees a pattern as old as time itself, potentially leading us into the depths of late 2025. He hints at a plunge to $75,000 if the stars align in a most unfortunate manner. “Beware the monthly Parabolic SAR at $75,742,” he cautions, “for beyond lies a abyss most dire.”
Josh Olszewicz, the nocturnal trader, peers into the Ichimoku Cloud and sees a possible retest of Bitcoin’s weekly kijun at 74k—a level last seen during the yen carry trade unwind, an event that sent shivers down the spine of global markets.
Daan Crypto Trades compares Bitcoin’s current oversold state to past cycles, when the Daily RSI dipped to 20. “The last time BTC was this ‘oversold’ was in August 2023,” he remarks, “but remember, the market is a fickle mistress.”
He also notes the appearance of massive buy orders on Binance futures, a sight as rare as a unicorn. “BTC ~$1.8 Billion in Bids has appeared,” he exclaims, “but these bids can vanish like a magician’s rabbit.”
Ki Young Ju, the CEO of CryptoQuant, ponders the enigma of liquidity. “Where will fresh liquidity spring from?” he queries, foreseeing a consolidation phase that could last until a catalyst as elusive as the end of a rainbow appears.
As the ink dries on this missive, Bitcoin hovers at $78,856—a number as mutable as the wind.
Read More
- Fauji director Hanu Raghavapudi shares BIG update on Prabhas starrer period war drama; ‘We have created…’
- Mobile Games to Play With Friends in 2025
- What Did RFK Jr. Say About Antidepressants?
- Captain America 4 Producer Details Anthony Mackie’s Lead Role in Avengers: Doomsday
- How To Play Ragnarok M Classic On PC
- Who Is Randy Orton’s Wife? Kim’s Job & Relationship History
- Lily Collins’ Husband Responds to Backlash Amid Surrogacy Controversy
- Diddy Punches Back: Files $50 Million Defamation Lawsuit Against Accusers
- Who Is Cameron Mathison’s Ex-Wife? Vanessa’s Job & Relationship History
- Allu Arjun’s Epic Chain Scene in Pushpa 2 Goes Viral – Fans Are Going Wild!
2025-02-28 18:42