bitcoin-usd/”>BITCOIN ABOUT TO TAKE OFF… OR NOT? 🚀💸
Oh, great, another thrilling update on Bitcoin’s price. Because, you know, we were all just sitting around twiddling our thumbs, waiting for this.
So, it turns out Bitcoin is currently “navigating a pivotal support zone.” Wow, that sounds super exciting. I bet the coffee at the Bitcoin conference was just buzzing with anticipation.
Technical Analysis
By Shayan, the resident genius who’s probably still living in their parents’ basement.
The Daily Chart
Apparently, Bitcoin “dipped to the critical $90K support level” before rebounding because, you know, it’s a magic coin and it can do whatever it wants.
But seriously, folks, it looks like Bitcoin is trying to make a comeback. Like that one aunt at the family reunion who always tries to relive her glory days. “Oh, I used to be a model, you know!” No, Auntie, you didn’t.
The 4-Hour Chart
On this chart, Bitcoin is “hovering near the $94K region.” Which is just a fancy way of saying it’s stuck in a rut. Like my uncle’s old Toyota Corolla.
But don’t worry, Shayan says that “an upward retracement is expected.” Which is just a fancy way of saying “it might go up, but probably not.” 🤔
On-chain Analysis
By Shayan, the same genius who’s probably still eating Cheetos in their basement.
It turns out that Bitcoin’s “exchange reserves have been on an aggressive decline.” Which is just a fancy way of saying that people are taking their Bitcoin and hiding it under their mattress. Like my grandma with her 401k.
So, what does it all mean? Well, according to Shayan, it means that Bitcoin might go up. Or down. Or maybe it’ll just sit there and do nothing. Who knows? 🤷♀️
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2025-02-06 18:44