Bitcoin: The Rollercoaster Ride You Didn’t Sign Up For! 🎢💸

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So, Bitcoin‘s price is taking a nosedive, huh? I mean, who didn’t see that coming? It’s like watching a bad sitcom where the main character just keeps making the same mistakes over and over. 🙄

But hey, there’s a glimmer of hope! Maybe, just maybe, the market will decide to bounce back. Or not. Who knows? It’s like waiting for a bus that never arrives. 🚏

Technical Analysis (Or, How to Lose Money Gracefully)

By Edris Derakhshi (TradingRage)

The Daily Chart

Look at this! Bitcoin’s been dropping faster than my enthusiasm for a Monday morning. It broke below the $92K level and now it’s acting like a stubborn teenager, refusing to go back. The 200-day moving average is hanging around $82K, like a friend who just won’t leave the party. 🎉

And the RSI? Oh, it’s oversold! Just like my patience with this market. A rebound could happen, but first, Bitcoin needs to get its act together and break back above $92K. Good luck with that! 😅

Daily Chart

The 4-Hour Chart

Now, if we look at the 4-hour chart, it’s clear that Bitcoin’s been on a downward spiral, making lower highs and lows. It’s like watching a bad relationship unfold. Rejected at $109K? Ouch! That’s gotta hurt. 💔

So, what’s next? Maybe a drop to $80K? Who knows! But with the RSI screaming “oversold,” a little pullback might just be around the corner. Or it could just keep plummeting. It’s a real cliffhanger! 🎭

Sentiment Analysis (Or, Why Everyone’s Panicking)

By Edris Derakhshi (TradingRage)

Open Interest

As Bitcoin’s price drops, traders are losing their minds! Liquidating longs left and right, like it’s a clearance sale. The open interest chart is looking like a sad story of missed opportunities. 📉

Sure, the decline in open interest is gradual, but it could have been a lot worse. The market’s still hot, and more long liquidations could be on the way. Buckle up, folks! It’s going to be a bumpy ride! 🚀

Open Interest

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2025-02-26 17:46