• Bitcoin Zeroes In On $100,000, But This Indicator Signals One More Brief Correction

    来源: Buzz FX / 22 11月 2024 08:35:14   America/Chicago


    Bitcoin (CRYPTO: BTC) continues its climb toward $100,000, but traders are adopting cautious approaches to prepare for potential corrections.





    What Happened: Crypto chart analyst Ali Martinez observed a sell signal on Bitcoin's 4-hour chart, indicating a possible brief correction to $97,085.





    However, a candlestick close above $100,470 could invalidate this bearish setup and push BTC to $102,656 or $104,343.











    In another tweet, Martinez shared his strategy for protecting capital during Bitcoin’s next bear market. Predicting a peak between $173,779 and $461,862 by October 2025, he suggests:






    • Selling 25% of holdings between $173,000 – $200,000.




    • Selling 30% between $200,000 – $300,000.




    • Selling another 30% between $300,000 – $400,000.




    • Selling the final 15% if BTC surpasses $400,000.





    Additionally, Martinez advises traders to employ a 15%-20% trailing stop-loss after Bitcoin reaches $170,000. He underscores a strict deadline: "If Oct 2025 hits, sell—no matter what."





    Also Read: If You Bought $1 Worth Of Bitcoin At Launch, Here’s How Much You’d Have Today





    Why It Matters: Martinez noted that over 65,000 BTC, worth $6.37 billion, have been withdrawn from exchanges in the past 96 hours.





    IntoTheBlock data shows large transaction volume increasing by 47.5% and daily active addresses grew by 27.2%. Transactions greater than $100,000 are up from 13,321 to 18,859 in a single day. Exchanges netflows are down by 4.5%.





    Lookonchain data highlighted the ten Bitcoin ETFs saw a netflow of 8,585, worth $842.7 million, in one day. BlackRock inflows increased by 6,643 BTC, worth $652.08 million, bringing its total to 481,270 BTC.





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