An important development occurred in Bitcoin ETFs! After the record high, a new series has begun!

Cryptocurrency News - We have seen significant outflows from Bitcoin ETFs in the last few weeks. This has created a lot of selling pressure in the last one to two weeks. Just on Tuesday, $1.1 billion came out in a single transaction. This record ETF outflow was followed by Black Rock ETF outflows. However, there were no large outflows like on Tuesday, and ETF outflows are slowing down. Since the exchanges are closed on weekends, no ETF transactions are taking place. In addition, we saw a very slight entry signal on Friday. The market outlook seems to be turning somewhat.

Bitcoin Indicators Reversed!

When analyzing Bitcoin price indicators, we see that the Super Trend indicator has turned back to the green zone again, but it may give a red signal shortly after. In the weekly Bitcoin MACD indicator, we are playing for a significant downturn. The last time we encountered such a view in this indicator, we confirmed the decline in the short term. In the light of this indicator, we can say that at least things are not going well in the short term. We may see upward movements in the hourly time frames of Bitcoin price, but these price movements do not seem to be long-lasting.

The Bitcoin price may continue to move in a neutral or downward trend over the next few months. Additionally, there is a strong support zone in the range of $70,000 to $74,000, which previously served as resistance. Furthermore, there are resistance levels to be overcome in the range of $90,000 to $92,000 for Bitcoin. Nevertheless, we may experience upward price movements in the next few days. The Bitcoin price indicators are moving away from bearish divergence. There is a liquidity gap in the range of $87,000 to $90,000 in Bitcoin. As there is a tendency for assets to shift towards the liquidity gap, we can monitor these levels in upward movements.

A Short-Term Relief Signal Came in Ethereum

When we look at the Ethereum price charts, we are still largely moving in a bearish outlook. Ethereum entered a bear market as it broke down the multi-year support trend line we previously emphasized. This support trend line was formed around 2022, and the asset breaking below this line was not favorable.

The Ethereum price is currently hitting the support line sitting between 2,100 dollars and 2,200 dollars. We can define this support range as a golden zone and we need to closely monitor it. If we break below this range, we can talk about levels around 1,900 dollars. However, when we look at the hourly time frames, we seem to have confirmed a bullish divergence. This indicates a very small relief area. It is important not to forget that this is only a few days or a week of relief.


The information in the article is purely for informational purposes. It does not constitute any investment advice. The author and kriptoparahaber.com are not responsible for any profit or loss arising from your investments. Ultimately, investment relies on many factors such as knowledge, experience, research, and personal decisions.


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