{"id":338997,"date":"2023-08-28T14:00:29","date_gmt":"2023-08-28T08:30:29","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=338997"},"modified":"2023-08-28T11:42:50","modified_gmt":"2023-08-28T06:12:50","slug":"why-bitcoin-prices-might-fall-off-a-cliff-soon","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-bitcoin-prices-might-fall-off-a-cliff-soon\/","title":{"rendered":"Why Bitcoin prices might fall off a cliff soon"},"content":{"rendered":"<ul>\n<li><em>BTC&#8217;s price has fallen below its <span style=\"font-weight: 400;\">Supertrend indicator, hinting at a possible price decline.<\/span><\/em><\/li>\n<li><em>However, key momentum indicators suggest that a rebound might be imminent.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bitcoin\u2019s [BTC] Supertrend indicator recently signaled a sell, suggesting that the leading cryptocurrency could be headed for a more significant price correction as investors intensify coin distribution, a crypto analyst <\/span><span style=\"font-weight: 400;\">noted in a recent tweet.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Notice the precision of the SuperTrend indicator anticipating when to buy and sell <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>! It recently signaled a sell, hinting at a deeper price correction. <\/p>\n<p>For a bullish reversal, <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> needs to close above $29,500. If not, brace for more losses. <a href=\"https:\/\/t.co\/TFQ3Djtiqj\">pic.twitter.com\/TFQ3Djtiqj<\/a><\/p>\n<p>&mdash; Ali Charts (@alicharts) <a href=\"https:\/\/twitter.com\/alicharts\/status\/1695744354848002280?ref_src=twsrc%5Etfw\">August 27, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are\u00a01,10,100 BTCs worth today?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">The Supertrend indicator is a tool deployed toward identifying and following market trends. While it is a lagging indicator that generates signals after the trend has already begun, traders view it as a useful tool for trend confirmation and for deciding the right time to enter and exit trade positions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When an asset\u2019s price is above the Supertrend line, the market is considered to be in an uptrend and is generally read as a buy signal. Conversely, when an asset\u2019s price rests below this indicator, a sell signal is generated, with the market considered to be in a downtrend.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An assessment of BTC\u2019s price movements on a daily chart showed that the coin&#8217;s price fell below its Supertrend line on 17 August, following a leverage flush-out in the derivatives market that saw over $2.5 billion in market liquidity withdrawn within a few hours.<\/span><\/p>\n<figure id=\"attachment_339005\" aria-describedby=\"caption-attachment-339005\" style=\"width: 2308px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46.png\"><img decoding=\"async\" class=\"wp-image-339005 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46.png\" alt=\"\" width=\"2308\" height=\"1174\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46.png 2308w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46-300x153.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46-1024x521.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46-768x391.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46-1536x781.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-28-46-2048x1042.png 2048w\" sizes=\"(max-width: 2308px) 100vw, 2308px\" \/><\/a><figcaption id=\"caption-attachment-339005\" class=\"wp-caption-text\">Source: BTC\/USDT on TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Ali conducted a historical assessment of this indicator vis-a-vis BTC\u2019s price reaction and found that it correctly signaled sell signals in June and November 2022 and buy signals in August 2022 and February 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the analyst:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">For a bullish reversal, BTC needs to close above $29,500. If not, brace for more losses.<\/span><\/p><\/blockquote>\n<h4><b>Do not give up hope just yet<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The severe bearishness of BTC\u2019s current market cycle cannot be overstated. The bear cycle was confirmed by the coin\u2019s Moving average convergence\/divergence (MACD) indicator. It showed the MACD line crossing below the trend line following the capital exodus of 17 August. The indicator has since been positioned and has only returned red histogram bars.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, the coin\u2019s Aroon Up line (orange) has since trended downward and returned a value of 7.14% at press time. When the Aroon Up line is close to zero, the uptrend is weak. And the most recent high was reached a long time ago.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, the Aroon Down line (blue) was spotted in an uptrend at 57.14%. At this position, the price downtrend remained strong, and the most recent low was reached relatively recently.<\/span><\/p>\n<figure id=\"attachment_339006\" aria-describedby=\"caption-attachment-339006\" style=\"width: 2308px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34.png\"><img decoding=\"async\" class=\"wp-image-339006 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34.png\" alt=\"\" width=\"2308\" height=\"1174\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34.png 2308w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34-300x153.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34-1024x521.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34-768x391.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34-1536x781.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-29-34-2048x1042.png 2048w\" sizes=\"(max-width: 2308px) 100vw, 2308px\" \/><\/a><figcaption id=\"caption-attachment-339006\" class=\"wp-caption-text\">Source: BTC\/USDT on TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, despite these worrying indicators, BTC\u2019s key momentum indicators hinted at a possible price rebound. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin\u2019s Relative Strength Index and Money Flow Index were spotted at oversold zones of 25.37 and 10.94, respectively. Typically, upward price corrections are expected at this point, as sellers often find it difficult to initiate any further price drop-downs.<\/span><\/p>\n<figure id=\"attachment_339007\" aria-describedby=\"caption-attachment-339007\" style=\"width: 2308px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10.png\"><img decoding=\"async\" class=\"size-full wp-image-339007\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10.png\" alt=\"\" width=\"2308\" height=\"1174\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10.png 2308w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10-300x153.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10-1024x521.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10-768x391.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10-1536x781.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSD_2023-08-28_06-30-10-2048x1042.png 2048w\" sizes=\"(max-width: 2308px) 100vw, 2308px\" \/><\/a><figcaption id=\"caption-attachment-339007\" class=\"wp-caption-text\">Source: BTC\/USDT on TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Although, for this to happen, market sentiment must improve<\/span><\/p>\n<figure id=\"attachment_339003\" aria-describedby=\"caption-attachment-339003\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023.png\"><img decoding=\"async\" class=\"wp-image-339003 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-06.22.16-28-Aug-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-339003\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>According to an analyst, BTC&#8217;s price decline below its Supertrend Indicator hints at a further drop in the king coin&#8217;s value as this is often read as a sell signal by traders.<\/p>\n","protected":false},"author":64,"featured_media":339008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[],"class_list":["post-338997","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - 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