Today the price of Bitcoin is in a volatile consolidation phase around $87,600 USD, yielding ground after failing to overcome key resistances and showing net outflows in ETFs over the past weeks, which has generated short-term bearish pressure with fear of falling towards $85,000 USD; however, institutional confidence remains intact, as demonstrated by the continued and significant purchases by companies like MicroStrategy, indicating that the asset maintains a strong fundamental bullish trend in the long term driven by scarcity and Wall Street adoption.
I see it at a moment of correction and testing of important supports. The drop below $90,000 USD activates caution in the short term. However, the fact that the RSI is in the oversold zone indicates that a bounce could be imminent if a firm support is found, with the aim of returning to consolidate in the upper range.
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A news item today is that MicroStrategy Doubles Down on Bitcoin despite the price drop, MicroStrategy (the company of Michael Saylor) announced a new purchase of more than 10,000 additional Bitcoins, at an average price of around $90,600 USD. Their strategy of "buying the dip" remains strong, which is seen by many as a strong vote of confidence in the long-term value of BTC. $BTC $BNB #BitEagleNews #bitcoin
DID YOU KNOW THAT THE "Santa Claus Rally" EXISTS. Which is a seasonal trading pattern that has historically shown a positive impulse in #bitcoin and other assets at the end of December and the beginning of January.
At this moment, the Santa Claus Rally is in Doubt because there is a debate about whether it will happen or not, although it has occurred in 8 of the last 10 years, the current volatility and macroeconomic doubts have called into question whether it will happen this year, despite the fact that institutional flows tend to be positive during this period.
Today I feel that selling pressure dominates due to macroeconomic risk aversion and profit-taking after recent highs. Uncertainty about the Federal Reserve's monetary policy and the breaking of key technical supports suggest that Bitcoin and altcoins are heading towards a deeper correction and consolidation phase before their big rise. #bitcoin #Binance $BTC
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I see Bitcoin today in a high base consolidation near 92,000, maintaining a slightly bullish inclination thanks to the massive institutional purchases made by MicroStrategy, but it shows a neutral trend in the short term, as these days the price has been struggling to break the key resistance of 93,000 while waiting for the next catalyst. $BTC #Bitcoin❗
My opinion at this moment is that Bitcoin is showing signs of fatigue and the bearish pressure is affecting it. The market has rejected attempts to rise above $90,500 USD, indicating that large holders are ready to take profits. The key is the floor of $88,000 USD: if this vital support is broken, the correction will accelerate strongly. This break could cause a wave of panic, sending the price down, with a possible target at $85,000 USD.
DON'T MAKE THESE MISTAKES IF YOU HAVE BITCOIN! As we know, the price of Bitcoin is in a key phase. The volatility scares many users, but whales and institutional funds are doing the opposite. So don't make these 3 mistakes:
🛑 Mistake No. 1: Selling in Panic: The big players know that volatility is normal. Every significant drop has historically been an accumulation opportunity. The fear you feel is the opportunity they are waiting for.
🛑 Mistake No. 2: Forgetting Scarcity: Remember that there are only 21 million BTC. The demand for new financial products adds to the already limited supply.
🛑 Mistake No. 3: Ignoring the Macro Signal: Bitcoin is sensitive to monetary policy. Speculation about potential interest rate cuts by the Federal Reserve tends to act as a positive catalyst.