Bitcoin (BTC) Market Analysis for March 24th. #btc #bitcoin

Janak9955

Bitcoin (BTC) is trading around $65,000. As shown in the chart, today's Bitcoin market analysis indicates that the 4-hour market is oscillating downwards near the middle track. The attached image shows continuous oscillations and pullbacks near the middle track, with red energy bars indicating a downward trend in retracement, while the price MACD and BOLL continue to oscillate, indicating a continued downward trend. Currently, the price is still trending downwards, suggesting a short-term downward trend. Therefore, short-term operations may experience a wave of declines. The current price is expected to experience a wave of retracement and another wave of decline. Personal operation recommendations suggest a predominantly short position for Bitcoin in the short term. Today's buying recommendation suggests buying into a short position. Personal suggestions are for reference only. Bitcoin short around $65,200-$65,400. Target take profit at around $64,200. The operation suggestion is to operate with up to one-twentieth of the position.

Young Ju pointed out that the new BTC whale's on-chain cost basis is about $56,000. It is expected that if BTC reaches this price level, a large amount of capital will enter the spot Bitcoin ETF market.

Against the backdrop of declining Bitcoin prices, the Bitcoin ETF spot market has been bleak recently. Although net inflows continue to decline, CryptoQuant's renowned analyst and CEO Ki Young Ju predicts a possible revival of the spot Bitcoin ETF market. On March 22nd, Ki Young Ju posted on X saying that even if BTC prices continue to decline, the net flow of spot Bitcoin ETFs may rise. The analyst points out, using historical net flow trend data, that demand for Bitcoin ETFs typically emerges when cryptocurrencies track to a certain support level.

According to data from the analysis company BitMEX Research, these BTC ETFs recorded negative flows over the past four trading days. This is signaled by significant outflows from Grayscale's GBTC, while inflows into other ETFs (primarily market leaders IBIT from BlackRock and FBTC from Fidelity) have reached historic lows.

Shri333

How much is half a position? It's better to go all in.

Ritu13

Bitcoin analysis is worth looking into as well.

Yamini003

Suggestions are for rational individuals.

Ritu77

Completely lacking interest now.