BtcBar

The total global cryptocurrency market capitalization has finished its backtest. It looks like a trend reversal is starting to take shape… I’m sincerely praying and hoping that this time our luck will stand with us.

#BTC Whale Order Book Update (15m) Heavy Sell Pressure: 72.4K–73.6K Largest Buy Order: 70.6K ($40M+) Major Movement → Now in the range.

$BTC has cleared the major liquidity level above $72K in the recent rally. Above, there is still a large cluster at $75K . Below, the area around $66K is where most of the liquidity is concentrated. It happens to be just below all the slightly higher and lower points from the past 1-2 weeks. Currently, when we discuss, the middle area is relatively empty.

#BTC Macro Analysis: There is a reason why this indicator has a 100% success rate.
It successfully predicted the bottom in 2023 and forecasted the bearish downtrend starting from January. You don't need to understand market narratives, geopolitical events, or any sudden incidents—just follow this indicator.
I'll update again when it shifts to a macro-level bullish outlook.

$SOL is currently tentatively priced between $80 and $95. On higher timeframes, the sideways movement is performing quite well. Once it breaks through the current consolidation phase, I will consider trading. A significant volatility is likely to follow.

Coinbase Bitcoin premium has been negative for 14 consecutive days. Institutions are selling off $BTC aggressively.

Cryptocurrencies and Bitcoin may have already bottomed out.
Bernstein: Cryptocurrency-related stocks are approaching the bottom.
Bitcoin chart: Weekly RSI has fallen to the lowest point since the last bear market.
Are you still on the sidelines?

Reasons for Bitcoin and Its Potential Reversal in the Near Future
Historically, the 200-day moving average has mostly served as a support level for Bitcoin, only briefly falling below this average during 2022-2023. According to the Fibonacci sequence, the reversal point may be around 55, but it cannot be ruled out that the price could drop to $40,000.

$SILVER may increase 2.5 times within the next 12 months.

Overall, $BTC has been progressing very slowly this month. Bitcoin's price has remained relatively flat this month, similar to the same period last year. Historically, April is the third-highest month for Bitcoin's average return.

Weekly 21-day moving average and the current total market cap #Crypto valuation have a considerable gap between them. But this doesn't mean we necessarily have to go that far. It means we will eventually get there. Possibly within the next 2-4 weeks. In any case, the key is that this remains a good accumulation zone here.

Breaking News: The unrealized profit ratio of $ETH whale wallets holding over 100,000 ETH has turned back above zero. According to analysts, historically, this situation typically signals a 25% increase within 3 months and gains of up to 300% within a year.