Bitcoin’s exchange balances are at their lowest level since March 2018, indicating a shift towards long-term holding strategies by major holders. Investors are moving their assets to private wallets in anticipation of future price increases, leading to a bullish outlook for Bitcoin. The current price of Bitcoin is $67,731, with resistance levels at $69,000, $70,600, and $71,000, and support levels at $66,650, $65,950, and $65,150. The RSI is 46.62, and the 50-day EMA is $68,000, supporting Bitcoin near $66,650, potentially driving a bullish bounce.
The 50-day EMA and RSI are currently bearish, causing Bitcoin to struggle to surpass the $67,800 level. Market exhaustion is indicated by doji and spinning top candle formations, with investors waiting for a clear direction. A move above the pivot point at $68,000 could signal a bullish movement, while a fall below this level may suggest a bearish trend. Consider buying above $68,000 for potential gains, keeping an eye on market trends.
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Bitcoin’s exchange balances reaching their lowest level since March 2018, driven by major outflows from Binance and Coinbase, suggest a trend towards long-term holding strategies by large holders. This shift indicates anticipation of future price increases, leading to a bullish outlook for Bitcoin. The current price of Bitcoin is $67,731, with resistance levels at $69,000, $70,600, and $71,000, and support levels at $66,650, $65,950, and $65,150. The RSI is 46.62, suggesting a neutral trend, while the 50-day EMA supports Bitcoin near $66,650.
Market exhaustion is currently evident in Bitcoin’s struggle to surpass the $67,800 level, with the formation of doji and spinning top candles showing indecision among investors. The pivot point at $68,000 is crucial, with a move above signaling bullish potential and a move below indicating a bearish trend. Consider buying above $68,000 for potential gains, while a fall below this level may suggest a continuation of the bearish trend.
Wiener AI (WAI), a new meme coin themed around a sausage dog, offers advanced AI-powered trading tools and staking rewards. With $3.85 million raised in presale and strong interest from investors, WAI is positioned for increased demand. Crypto analysts, including Michael Wrubel, rate WAI as a top pick for 2024 with a presale price of $0.000713 and a market cap under $50 million. Early investors in WAI could potentially see significant returns if it achieves market leadership.
