#BinanceBlockchainWeek My first guess is that BTC will re | MNZ on Binance Square

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#BinanceBlockchainWeek￼ 
My first guess is that BTC will reach at 
$63,754.23
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Based on the current market data, here's a technical analysis for Bitcoin (BTC): Current Market Situation Price: Bitcoin is currently trading around $96,880 Recent Movement: BTC experienced a slight decline from its recent high of $102,500. It briefly surpassed the $100,000 mark but pulled back to around $96,261 within 24 hours. Market Sentiment: The market remains somewhat choppy, with mixed signals from short-term indicators Technical Indicators - Liquidity Inventory Ratio: Bitcoin’s liquidity inventory ratio has dropped significantly, indicating a tightening supply. This is generally bullish for BTC as it creates a perception of scarcity. - Resistance Levels: The key resistance level is around $99,600. A failure to break this level could lead to a retest of lows around **$91,000*. - Support Levels: The neckline support of the 'head and shoulders' pattern is at $91,500. - Short-term Indicators: The 4-hour chart shows a reclaimed golden cross, suggesting bullish potential. However, significant stop clusters at $97,000 (longs) and $99,600 (shorts) indicate potential volatility. Analyst Predictions - Bitfinex Analysts: They predict a minimum price estimate of $145,000 by mid-2025, potentially reaching $200,000 under favorable conditions - CryptoQuant Analyst: Warns that the crypto market might be entering the late stages of its current bull cycle, with a potential peak by the first or second quarter of 2025. Conclusion Bitcoin's market is showing signs of both bullish and bearish signals. While the tightening supply and reclaimed golden cross are positive indicators, the resistance levels and potential bearish reversal patterns suggest caution. DYOR… one should remain patient and wait for clearer bullish signals before making significant moves. #BTC

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$BTC Based on the current market data, here's a technical analysis for Bitcoin (BTC): Current Market Situation Price: Bitcoin is currently trading around $96,880 Recent Movement: BTC experienced a slight decline from its recent high of $102,500. It briefly surpassed the $100,000 mark but pulled back to around $96,261 within 24 hours. Market Sentiment: The market remains somewhat choppy, with mixed signals from short-term indicators Technical Indicators - Liquidity Inventory Ratio: Bitcoin’s liquidity inventory ratio has dropped significantly, indicating a tightening supply. This is generally bullish for BTC as it creates a perception of scarcity. - Resistance Levels: The key resistance level is around $99,600. A failure to break this level could lead to a retest of lows around **$91,000*. - Support Levels: The neckline support of the 'head and shoulders' pattern is at $91,500. - Short-term Indicators: The 4-hour chart shows a reclaimed golden cross, suggesting bullish potential. However, significant stop clusters at $97,000 (longs) and $99,600 (shorts) indicate potential volatility. Analyst Predictions - Bitfinex Analysts: They predict a minimum price estimate of $145,000 by mid-2025, potentially reaching $200,000 under favorable conditions - CryptoQuant Analyst: Warns that the crypto market might be entering the late stages of its current bull cycle, with a potential peak by the first or second quarter of 2025. Conclusion Bitcoin's market is showing signs of both bullish and bearish signals. While the tightening supply and reclaimed golden cross are positive indicators, the resistance levels and potential bearish reversal patterns suggest caution. DYOR… one should remain patient and wait for clearer bullish signals before making significant moves.

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