Examining Binance's Impact on Bitcoin's Price Decline
Popular analyst Credible Crypto has pointed out that on Binance, the stacked bids have been removed, and new sell orders have taken their place, tilting...
- Popular analyst Credible Crypto notes that on Binance, stacked bids have been replaced by new sell orders, indicating a tilt in favor of sellers over buyers.
- Credible Crypto suggests that if Bitcoin drops below $26,000, it may be a good time to turn positive for a potential rebound.
- The analyst believes that $27,000 is a more significant resistance level to watch compared to $28,100.
- A video by Crypto World highlights that Bitcoin is still holding above a support zone between $24,300 and $25,300.
- Indicators such as the Relative Strength Index (RSI) and falling wedge pattern suggest the possibility of a bullish breakout if Bitcoin surpasses $26,700.
- Ethereum is facing a crucial resistance level between $1,620 and $1,660, but daily indicators indicate a potential bullish reversal.
- To confirm a bullish trend, Ethereum needs to break through the $1,660 resistance and establish it as solid support.
The sentiment in the article is cautious but also suggests the possibility of a bullish trend for both Bitcoin and Ethereum.