2024-12-26 15:00 |
Crypto analyst P4 Provider shared insights on X (formerly Twitter) into Bitcoin’s (BTC) short-term price movement. He noted that BTC’s price will likely drop soon, which could be good for traders looking to make moves. While prices might bounce around in the coming days, this trader thinks Bitcoin will do well in the long run.
P4 Provider sold his Bitcoin at $95,000 because he thinks the price will fall. He’s planning to buy back in at two key points: $91,000 and $86,000. These levels align with the horizontal support zones identified in the accompanying chart analysis.
The $91,000 level serves as an initial buy zone supported by recent price action, while $86,000 represents a more aggressive entry point. This strategic approach suggests confidence in these support levels holding firm amid short-term bearish sentiment. He made it clear that these quick trades don’t change how he feels about Bitcoin’s future success.
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Chart Analysis Supports Price Dip ExpectationThe shared chart provides additional context for the trader’s expectations. Looking at Bitcoin’s 4-hour chart, prices were going up steadily but have now leveled off and started falling a bit. The chart shows two important support levels at $91,000 and $86,000 – the same prices where this trader wants to buy back in.
Looking deeper, Bitcoin’s price has dropped below an upward trend line, which suggests it might keep falling for a bit. There’s resistance at $100,000 and another point above $114,000 – places where traders might want to sell for profit. The volume indicator shows moderate activity, suggesting a lack of strong momentum in either direction.
Image Source: X/P4Provider
Long-Term Bullish Sentiment Remains IntactEven though he expects some drops in the short term, he’s still confident about Bitcoin’s future. He sees these price drops as chances to buy more Bitcoin for less. People are making quick trades while also holding onto their Bitcoin for the long run – both strategies are still going strong in the crypto world.
Looking at BTC’s price movements tells us that successful trading means paying attention to both daily swings and longer trends.
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The post This Trader Says Bitcoin (BTC) Price Is Headed for a Dip—Here’s Why and What’s Next appeared first on CaptainAltcoin.
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