Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Ethereum vs. S&P 500: Despite winning, ETH traders cash in – why?

2025-05-18

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

2025-05-18

Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate Web3 AI-Game Development

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate Web3 AI-Game Development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18

    Space and time, Nvidia, publishes Sub-Second ZK Prover for SQL

    2025-05-18
  • NFT

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15

    British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

    2025-05-14
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Why Bitcoin prices might fall off a cliff soon
Bitcoin

Why Bitcoin prices might fall off a cliff soon

2023-08-28No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • BTC’s price has fallen below its Supertrend indicator, hinting at a possible price decline.
  • However, key momentum indicators suggest that a rebound might be imminent.

Bitcoin’s [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 noted in a recent tweet. 

Notice the precision of the SuperTrend indicator anticipating when to buy and sell #Bitcoin! It recently signaled a sell, hinting at a deeper price correction.

For a bullish reversal, $BTC needs to close above $29,500. If not, brace for more losses. pic.twitter.com/TFQ3Djtiqj

— Ali (@ali_charts) August 27, 2023

 


How much are 1,10,100 BTCs worth today? 


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.

When an asset’s 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’s price rests below this indicator, a sell signal is generated, with the market considered to be in a downtrend.

An assessment of BTC’s price movements on a daily chart showed that the coin’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.

Source: BTC/USDT on TradingView

Ali conducted a historical assessment of this indicator vis-a-vis BTC’s price reaction and found that it correctly signaled sell signals in June and November 2022 and buy signals in August 2022 and February 2023. 

See also  Bitcoin Price Still Reflects Bullish Move From 2023, What To Expect After Reaching $108,000 ATH

According to the analyst:

For a bullish reversal, BTC needs to close above $29,500. If not, brace for more losses.

Do not give up hope just yet

The severe bearishness of BTC’s current market cycle cannot be overstated. The bear cycle was confirmed by the coin’s 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. 

Also, the coin’s 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. 

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.

Source: BTC/USDT on TradingView

However, despite these worrying indicators, BTC’s key momentum indicators hinted at a possible price rebound.

Bitcoin’s 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.

Source: BTC/USDT on TradingView

Although, for this to happen, market sentiment must improve

Source: Santiment



Source link

Bitcoin cliff Fall prices
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

2025-05-18

Bitcoin: This indicator reflects 2024’s Bull Run – will history repeat?

2025-05-18

Bitcoin has to close more than $ 107,000 to confirm the outbreak or the risk of falling to $ 98,000

2025-05-18

Bitcoin bulls are confronted with Make-Or-Break-moment at $ 106,500 Resistance details

2025-05-18
Add A Comment

Comments are closed.

Top Posts

Alles wat u moet weten

2023-04-27

ARK Invest changes Bitcoin spot ETF filing in race for SEC approval

2023-06-29

Ethereum (ETH) Price on the eve of major breakout

2023-06-01
Editors Picks

Trust Wallet launches Wallet as a Service (WaaS) to accelerate Web3 adoption

2023-11-10

Long-term Bitcoin holders are selling 366k BTC

2024-11-26

Floki Inu enables Web3 users with a new identity platform

2025-05-11

SEC meets with Hashdex to discuss its Bitcoin ETF proposal

2023-11-30
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Ethereum vs. S&P 500: Despite winning, ETH traders cash in – why?

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate Web3 AI-Game Development

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,670.232.45%
  • ethereumEthereum(ETH)$2,444.98-1.11%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.402.30%
  • binancecoinBNB(BNB)$646.731.15%
  • solanaSolana(SOL)$169.472.30%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2282646.50%
  • cardanoCardano(ADA)$0.750.92%
  • tronTRON(TRX)$0.266898-0.81%
  • suiSui(SUI)$3.841.04%
  • chainlinkChainlink(LINK)$15.601.93%
  • avalanche-2Avalanche(AVAX)$22.611.98%
  • stellarStellar(XLM)$0.2899781.71%
  • hyperliquidHyperliquid(HYPE)$26.603.72%
  • shiba-inuShiba Inu(SHIB)$0.0000153.94%
  • hedera-hashgraphHedera(HBAR)$0.1936471.98%
  • bitcoin-cashBitcoin Cash(BCH)$404.093.47%
  • unus-sed-leoUNUS SED LEO(LEO)$8.66-3.23%
  • the-open-networkToncoin(TON)$3.121.80%
  • litecoinLitecoin(LTC)$99.273.30%
  • polkadotPolkadot(DOT)$4.691.89%
  • moneroMonero(XMR)$337.231.03%
  • bitget-tokenBitget Token(BGB)$5.153.83%
  • pepePepe(PEPE)$0.0000139.28%
  • daiDai(DAI)$1.00-0.02%
  • piPi(PI)$0.747.42%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.974.60%
  • bittensorBittensor(TAO)$415.46-1.71%
  • aaveAave(AAVE)$225.421.90%
  • nearNEAR Protocol(NEAR)$2.773.63%
  • aptosAptos(APT)$5.100.84%
  • okbOKB(OKB)$52.88-0.56%
  • ondo-financeOndo(ONDO)$0.932.13%
  • kaspaKaspa(KAS)$0.1102361.23%
  • ethereum-classicEthereum Classic(ETC)$18.422.00%
  • internet-computerInternet Computer(ICP)$5.221.77%
  • gatechain-tokenGateToken(GT)$21.650.35%
  • crypto-com-chainCronos(CRO)$0.0983501.03%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.973.38%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2377122.64%
  • mantleMantle(MNT)$0.731.73%
  • vechainVeChain(VET)$0.0284122.85%
  • render-tokenRender(RENDER)$4.581.39%
  • ethenaEthena(ENA)$0.3778358.12%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • algorandAlgorand(ALGO)$0.2226733.74%
  • filecoinFilecoin(FIL)$2.862.79%
  • cosmosCosmos(ATOM)$4.873.04%
  • bitcoinBitcoin(BTC)$105,670.232.45%
  • ethereumEthereum(ETH)$2,444.98-1.11%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.402.30%
  • binancecoinBNB(BNB)$646.731.15%
  • solanaSolana(SOL)$169.472.30%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2282646.50%
  • cardanoCardano(ADA)$0.750.92%
  • tronTRON(TRX)$0.266898-0.81%
  • suiSui(SUI)$3.841.04%
  • chainlinkChainlink(LINK)$15.601.93%
  • avalanche-2Avalanche(AVAX)$22.611.98%
  • stellarStellar(XLM)$0.2899781.71%
  • hyperliquidHyperliquid(HYPE)$26.603.72%
  • shiba-inuShiba Inu(SHIB)$0.0000153.94%
  • hedera-hashgraphHedera(HBAR)$0.1936471.98%
  • bitcoin-cashBitcoin Cash(BCH)$404.093.47%
  • unus-sed-leoUNUS SED LEO(LEO)$8.66-3.23%
  • the-open-networkToncoin(TON)$3.121.80%
  • litecoinLitecoin(LTC)$99.273.30%
  • polkadotPolkadot(DOT)$4.691.89%
  • moneroMonero(XMR)$337.231.03%
  • bitget-tokenBitget Token(BGB)$5.153.83%
  • pepePepe(PEPE)$0.0000139.28%
  • daiDai(DAI)$1.00-0.02%
  • piPi(PI)$0.747.42%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.974.60%
  • bittensorBittensor(TAO)$415.46-1.71%
  • aaveAave(AAVE)$225.421.90%
  • nearNEAR Protocol(NEAR)$2.773.63%
  • aptosAptos(APT)$5.100.84%
  • okbOKB(OKB)$52.88-0.56%
  • ondo-financeOndo(ONDO)$0.932.13%
  • kaspaKaspa(KAS)$0.1102361.23%
  • ethereum-classicEthereum Classic(ETC)$18.422.00%
  • internet-computerInternet Computer(ICP)$5.221.77%
  • gatechain-tokenGateToken(GT)$21.650.35%
  • crypto-com-chainCronos(CRO)$0.0983501.03%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.973.38%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2377122.64%
  • mantleMantle(MNT)$0.731.73%
  • vechainVeChain(VET)$0.0284122.85%
  • render-tokenRender(RENDER)$4.581.39%
  • ethenaEthena(ENA)$0.3778358.12%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • algorandAlgorand(ALGO)$0.2226733.74%
  • filecoinFilecoin(FIL)$2.862.79%
  • cosmosCosmos(ATOM)$4.873.04%