Bitcoin Price Forecast: BTC ETF Inflows Rise, Gold Declines — But 'Trump Insider' Whale Continues to Bet on a Drop
Bitcoin Price Movement: Bitcoin's price increased slightly to $107,717 with a significant trading volume surge of 82% to $107 billion, driven by positive spot BTC ETF inflows totaling $477 million on October 21.
Gold Price Decline: Gold prices fell over 6%, marking the largest single-day decline in more than five years, as traders took profits after reaching an all-time high, resulting in a market cap drop of approximately $2.1 trillion.
Bearish Sentiment from Crypto Whale: A notable crypto whale, referred to as the "Trump Insider," has increased their short position on Bitcoin to 2,100 BTC, indicating a strong belief in a potential price drop despite the current market conditions.
Technical Analysis of Bitcoin: Bitcoin is showing signs of weakness with a potential head-and-shoulders pattern forming, suggesting a possible trend reversal, as it struggles to maintain momentum above critical support levels and faces increased selling pressure.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 41969.199 | 50984.6 | 61393.199 | 70408.6 | 80817.199 | 89832.6 | 100241.199 |
| Fibonacci | 50984.6 | 58404.568 | 62988.632 | 70408.6 | 77828.568 | 82412.632 | 89832.6 |
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