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CRYPTO BREAKING NEWS
— InnovatekMobile (@Neome_com) February 7, 2024
Bitcoin whales loading bags ahead of major halving event. Following the approval of the spot Bitcoin Exchange Traded Fund (ETF) in the United States by the Securities and Exchange Commission (SEC), the Bi… check us out @ https://t.co/8dh137aX4R pic.twitter.com/ayIcaeMk8s
Amidst this, crypto signals indicate that a bull run looms for Bitcoin. Moreover, Bitcoin whales are actively accumulating more BTC. According to Glassnode, 73 new whales hold over 1000 BTC, which is a 3.6% increase in just two weeks. Technical analysis suggests the formation of an inverted head and shoulder pattern, potentially leading to a bullish move if the coin closes above $44,000. However, the ongoing consolidation between $40,500 and $44,200 persists, keeping the market in suspense.
Key Bitcoin Levels To Watch – February 7
The indication of the Stochastic Oscillator reveals the market’s current state. According to the indication, BTCUSD is likely to experience a short retracement into the Fair Value Gap in the discount zone.
BTCUSD has been consolidating within an ascending triangle since the sell-side liquidity grab at $40150.00. As indicated by the MA Cross, the market’s bullish trend might resume soon.
BTC/USD Key Levels
Resistance Levels: $49100.00, $53327.00, $62300.00
Support Levels: $38501.00, $31862.00, $26538.00
BTC Metrics
Total Market Capitalization: $1.64T
Bitcoin Market Capitalization: $847B
Bitcoin Volume: $15.3B
Market Rank: #1
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