Bitcoin (BTC) Price Flashing Sell Signals: What to Do?
Bitcoin's price is currently around $98,209 with a 24-hour trading volume of $30.23 billion. It's facing resistance at $100,000 and showing several bearish signals. A "Doji Gravestone" candlestick pattern suggests a potential price reversal, and the TD Sequential indicator has triggered a sell signal on the 4-hour chart. A long-term rising wedge pattern also points towards a potential price drop to between $40,000 and $41,000. Bitcoin's dominance is also expected to decrease, which could lead to increased investment in alternative cryptocurrencies. If support levels at $95,000 and $92,000 fail to hold, the price could fall further towards $85,000 or lower. However, on the 4-hour chart, Bitcoin has broken out of a falling wedge pattern, which is a bullish signal. The Relative Strength Index (RSI) indicates that Bitcoin is neither overbought nor oversold, suggesting a price correction is possible, but not necessarily a strong bearish trend.