Umm 👀 An analyst is warning that Bitcoin will fall heavily after passing $20K.
The pair had seen a bout of more volatile behavior the day prior,The day looked to be an important one for the bulls with the monthly close combined with European Consumer Price Index data.
Geopolitical events involving Russia’s official annexation of Ukrainian territory and associated implications were also on traders’ radars. Russian President Vladimir Putin was expected to speak at a ceremony during which he would formally ratify four Ukrainian regions joining Russia., referencing Bitcoin’s next squeeze higher, which should turn to losses thereafter.that the price action would likely take the form of a “pump to 20000-20500 before Putin’s speech. Then big dump.
In a potentially more optimistic take, market analysis outfit IncomeSharks argued that bears had recently become less confident shorting BTC.“It’s amazing how quickly we can see moves up now. It use to feel like it was weighted down. Now it feels like the wind blows and it moves. Bears seem a little more cautious shorting, a shift from the euohoria they were experiencing.”
On the day, meanwhile, IncomeSharks noted that United States equities futures were gathering upside momentum, allowing for price relief across correlated crypto markets. “$SPX futures pushing up. Markets have flip flopped almost every other day this week. Bulls holding support with strength,” it
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