Extreme nervousness is permeating the crypto market. The monthly close is later today and if $BTC closes under $61,000, there could be a lot more pain to come as bitcoin falls off of the cliff edge.
$BTC perilous monthly close
The crypto market is almost totally swathed in red. Bitcoin is heading down once again, and this time there may be no stopping it. Currently down at around $61,700, $BTC only needs to lose another few hundred dollars for the day in order to make that perilous monthly close.
2-month chart shows extreme danger
Source: TradingView
The main problem with the monthly close is on the 2-month chart. Here it can be seen that the candle for this 2-month period has a huge wick to the upside, which is bearish. The small candle body makes it very like a doji, and the correct name for it would be an “inverted cross doji”. It is signifying that there is a lot of selling pressure that is forcing the price down.
If the $BTC price closes under around $61,000 at th
We współpracy z: https://cryptodaily.co.uk/2024/04/bitcoin-on-the-cliff-edge
