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Cryptographic analyst Tony Severino warned that the price of Bitcoin risks a new accident. This came because he revealed a critical technical indicator, which has become a lowering for the flagship crypto, although he noted that the BTC bulls can always invalidate this current lower configuration.
The price of bitcoin in danger of competing while the monthly S&P LMACD becomes a lower
In a X postSeverino indicated that the price of bitcoin could crash more while the lmacd monthly S&P 500 began to cross the drop and that the histogram has become red. This evolution is significant because the intotheblock data show that BTC and the stock market Always have a strong correlation of positive price.
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The crypto analyst said that the BTC bulls could transform this downward configuration for the Bitcoin price in the next 20 days, because diverged would lead to an upward configuration instead. However, the failure of the Bulls to be overturned massive decline For the flagship crypto, worse than she has already seen it.
Severino said that confirmation of this downward configuration at the end of the month could launch a bear market Or a black swan type event similar to what happened when the last two crosses occurred. It should be mentioned that BTC has already crushed up to $ 76,000 recently, arousing concerns that the bear market could already be here.
However, crypto experts such as The co-founder of Bitmex Arthur Hayes have suggested that the Haussier market is still in play for the price of Bitcoin. Hayes noted that the BTC has corrected about 30% of its top of all current time (ATH), what he noticed is normal in a Bull Run. The founder of Bitmex predicts that the flagship crypto will rebound once the American federal reserve begins to alleviate its monetary policies.
BTC still looks good despite a recent accident
Cryptographic analyst Kevin capital suggested that the price of bitcoin always seems good despite the recent crash. In its last market update, he said that BTC remains the most beautiful picture and that everything goes as planned for the flagship crypto. The analyst plans that Bitcoin could still descend and test the beach between $ 70,000 and $ 75,000, which, according to him, would still be good.
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Kevin Capital pointed out that the price of Bitcoin could remain afloat if it has a key market structure and that the 3 -day MacD resets. He added that some decent macro-data could help the flagship crypto stay above key support levels. THE American CPI data will be published today, which could relieve the market if it shows that inflation slows down. The analyst is convinced that a good inflation report and the FOMC can help turn tides.
When writing data from CoinMarketCap.
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