“Bitcoin Traders Brace for Potential $92,000 Correction Amid Bearish Divergence and Profit-Taking Signals – Analysts Warn of Further Drops to $104,000”

Bitcoin traders are cautious as the price potentially heads towards a $92,000 correction following a bearish divergence and signs of profit-taking. Analysts warn that if Bitcoin fails to hold above $115,000, it could drop further towards $104,000. The weekly chart shows a bearish pattern resembling past market tops, signaling a possible retrace to the $92,000 level. Additionally, the Net Unrealized Profit/Loss (NUPL) metric suggests that a significant portion of Bitcoin supply is in profit, which historically has led to sell-offs. However, some experts remain bullish, suggesting a potential peak around $150,000. Investors are advised to conduct thorough research and evaluate risks before making trading decisions.

[Original Post]

Generated by DMK News Bot