Astrological Predictions Suggest Bitcoin Price Decline Ahead Due to Lunar Eclipse
Bitcoin is predicted to continue its price decline until March 13, 2024, influenced by astrological factors and supported by technical indicators. Recent ETF outflows and potential economic tariffs further exacerbate market concerns. Current patterns suggest a possible drop to $73,613, warranting investor caution.
Bitcoin is currently experiencing a period of technical correction that may last a few weeks. Having recently dipped to $82,177, it has recovered slightly to approximately $86,200, aided by robust earnings from Nvidia. An anonymous cryptocurrency analyst who incorporates astrological insights believes that Bitcoin, along with other altcoins, will face continued decline until around March 13 due to astrological influences.
The analyst emphasizes that the timeframe from February 25 to March 13 is notoriously perilous for both cryptocurrencies and stocks, citing a planetary alignment known as a Saturn conjunction. This astrological event is characterized by economic contraction and often results in significant market corrections. Investors may choose to adopt more conservative strategies, prioritizing safer asset classes during such times.
The forecast indicates that Bitcoin’s downward trend is expected to persist until the Lunar Eclipse on March 13 or 14, which is reputed in astrology to bring about emotional and subconscious transitions. In addition to these astrological projections, there are substantial technical and fundamental indicators suggesting further price declines.
From a fundamental standpoint, spot Bitcoin exchange-traded funds (ETFs) are experiencing considerable outflows, reflecting a retreat by American investors in the current market. Recent data from SoSoValue has revealed that these ETFs have demonstrated a consistent pattern of outflows over the past week, signaling a lack of confidence among investors.
Compounding these market concerns, reports suggest that former President Donald Trump may advance with new tariffs that could heighten market volatility. Notably, Bitcoin suffered sharp price declines earlier when tariffs on goods from Mexico and Canada were announced.
The technical analysis of Bitcoin’s price movement reveals the formation of several bearish patterns, including a “three dark crows” candlestick pattern, which may foreshadow further downward movement. This current rebound could represent a “dead cat bounce,” a temporary price recovery in a larger downtrend. Additionally, Bitcoin has fallen below the Ichimoku cloud indicator and exhibits a double top pattern with the neckline positioned at $89,107, indicating potential further declines.
An estimated 18% decline from the neckline could lead Bitcoin’s price down to approximately $73,613, which aligns with a high observed in March 2024. Consequently, traders and investors are advised to be vigilant during this uncertain period, closely monitoring astrological forecasts along with fundamental and technical indicators.
In summary, the astrological forecast suggests that Bitcoin is poised for further price declines until mid-March, with both technical patterns and fundamental data supporting this outlook. The influence of external economic policies, particularly potential tariffs, adds to the unpredictability of the market. Investors are encouraged to proceed cautiously amidst these conditions as significant volatility may be forthcoming.
Original Source: crypto.news
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