Bitcoin worth stays in a technical correction, and the continuing correction might persist for just a few weeks.
Bitcoin (BTC) bottomed at $82,177 this week because it briefly moved right into a bear market. It has since crawled again to $86,200 following sturdy Nvidia earnings outcomes.
An nameless crypto analyst who makes use of astrology ideas has predicted that Bitcoin and different altcoins will proceed crashing till March 13. He claims that the interval between Feb. 25 and March 13 is usually dangerous for cryptocurrencies and shares.
Mainly now we have a $Crypto hazard zone from now into the March thirteenth Lunar Eclipse
It is opposing critical Saturn and Conjunct #BTC natal Saturn, potential shit present unload
Precise timing is all the time arduous to say however No excellent news till then people
Crypto Doomis nonetheless in impact pic.twitter.com/q4vqvWXAnQ
— Crypto Damus (@AstroCryptoGuru) February 18, 2025
On this case, his argument is that Bitcoin is within the so-called Saturn conjunction, which is related to contractions and vital corrections. This era is usually linked to conservative methods, equivalent to safe-haven belongings.
The analyst predicts that the continuing Bitcoin worth decline will doubtless proceed till both March 13 or 14, when the Lunar Eclipse happens. In astrology, a serious occasion just like the Lunar Eclipse is usually related to emotional and unconscious shifts.
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There are elementary and technical components supporting the bearish outlook. Basically, spot Bitcoin ETFs have continued to see sturdy outflows, an indication that American buyers are staying on the sidelines. SoSoValue knowledge exhibits that every one spot Bitcoin ETFs have skilled outflows over the past seven days.
Additional, there are indicators that Donald Trump will transfer forward along with his tariffs, which might result in extra volatility out there. For instance, Bitcoin worth crashed earlier this month when he unveiled tariffs on Mexican and Canadian items.
Bitcoin worth technicals level to a crash
BTC worth chart | Supply: crypto.information
The BTC worth has additionally shaped a number of technical patterns that will point out additional draw back within the close to time period. It has shaped a 3 darkish crows candlestick sample, which is characterised by three consecutive bearish candles. As such, the present rebound could also be a useless cat bounce or a bull lure. A bull lure happens when an asset in a downtrend briefly rebounds earlier than resuming its decline.
Bitcoin worth has additionally moved beneath the Ichimoku cloud indicator and has shaped a double prime sample, with its neckline at $89,107. The space from the highest to the neckline is about 18%. An 18% drop from this stage would level to a Bitcoin worth decline to the March 2024 excessive of $73,613.
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