Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»BITCOIN NEWS»Would you like to buy or sell Bitcoin now? Analyst Reveals the Ultimate Bias Guide
BITCOIN NEWS

Would you like to buy or sell Bitcoin now? Analyst Reveals the Ultimate Bias Guide

By Crypto FlexsJune 10, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Would you like to buy or sell Bitcoin now?  Analyst Reveals the Ultimate Bias Guide
Share
Facebook Twitter LinkedIn Pinterest Email

In an analysis published to his 280,000 X followers, the renowned cryptocurrency analyst known as Cold Blooded Shiller (@ColdBloodShill) provided an in-depth look at the current state of Bitcoin amidst a volatile market environment. His commentary, titled “Ultimate BTC Simple Bias Guide,” unpacks the recent emotional reactions triggered by Bitcoin price movements and provides a strategic framework for interpreting these changes.

Would you like to buy or sell Bitcoin now?

On Friday, the price of Bitcoin plummeted from $71,900 to $68,500. The decline coincides with the release of the U.S. Employment Situation Summary report, economic data that typically influences market sentiment across a variety of asset classes, including cryptocurrencies. “It’s easy to forget that it was one red candle on Friday that triggered a huge emotional response in the Twitter debate,” Shiller wrote, highlighting the often exaggerated emotional response to a single event in the cryptocurrency market.

Cold Blooded Shiller’s Bitcoin technical research shows a strong underlying upward trend despite recent price volatility. However, he identifies resistance and support levels that are important for understanding the future movement of the Bitcoin price.

Related Reading

The $72,000 price level remains key resistance, having disrupted Bitcoin’s upward movement five times, including the most recent rejection last Friday. “We have resistance in the $72,000 range,” Shiller elaborates. This indicates that a break above this level could potentially lead to significant bullish momentum.

Conversely, the support level at $67,000 and later at $61,000 are described as important to sustain the bullish scenario. Shiller warns, “BTC should maintain its upward trend. A loss of $67,000 would confirm the Lower High (LH) and send it into a downward trend once again as negative market conditions continue.” According to him, a further loss of $61,000 could signal the end of the current bull cycle, which could extend into a broader weekly downtrend.

Bitcoin price analysis | Source: X @ColdBloodShill

Analyzing the broader market dynamics, Shiller points out that there is no high time frame (HTF) bearish divergence in the Relative Strength Index (RSI), a common indicator used to predict potential market reversals. “Positively, there is no HTF bare div, which would normally be a strong signal for a cycle top. “We said the RSI was clean,” he says. These observations suggest that despite testing critical resistance levels, the market may not have yet reached its cyclical peak, which provides some reassurance to investors concerned about a potential recession.

Related Reading

Shiller’s guidance for traders is to carefully watch the key price levels that determine Bitcoin’s near-term market direction. “Daily needs to hit a new high and break $72,000. Otherwise, you risk losing the daily trend below $67,000,” he advises, emphasizing the importance of these thresholds in shaping market sentiment and trading strategies. This advice suggests that while the broader trend may still support a bullish stance, it is important to be prepared to pivot based on key technical indicators.

In light of these observations, Shiller advises his followers to use these insights to strategically manage their investment portfolios. The current market situation, characterized by attempts to break the $72,000 resistance and hold key lower levels, suggests a tactical approach to investment decisions. Traders and investors are advised to set clear indicators for adjusting their positions and prepare for potential changes in market dynamics that could affect investment results.

At press time, BTC was trading at $69,484.

bitcoin price
Bitcoin price is hovering above key support levels. 1 day chart | Source: TradingView.com BTCUSD

Featured image created with DALL·E, TradingView.com chart

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin ETFS can see that $ 9 billion in $ 9 billion will be introduced due to an increase in gold.

May 30, 2025

JACK Mallers announced the Bitcoin sponsorship loan system at strike.

May 30, 2025

Bolivia Bans State Oil Company does not use encryption for energy settlement.

May 29, 2025
Add A Comment

Comments are closed.

Recent Posts

Solana’s strategic moment: Can Sol copy the institutional interests of BTC?

May 31, 2025

Trump’s memes, which were questioned by the Supreme Democratic Party at the House Judicial Committee,

May 31, 2025

Major trends in open source funding: Insight for managers

May 31, 2025

ETH, SOL ‘very rare’ Staying ETF may start temporarily -analysts

May 31, 2025

Bitcoin heads for $ 100k, but BTF futures predict recovery

May 31, 2025

The optimistic candlelight formation suggests that the XRP price can touch $ 22.

May 31, 2025

US sanctions technology companies are related to millions of dollars of encryption fraud.

May 31, 2025

LUNC News: Coingecko adds a new Defi site from Terra Luna Classic.

May 31, 2025

Leonardo.ai starts editing high-end omni using Flux.1 and GPT-IMAGE-1

May 31, 2025

Ether Leeum Network Growth, Strong ETH futures support $ 2.4K

May 30, 2025

Analyst says that BTC is primarily primitive when he reclaims these resistance levels.

May 30, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Solana’s strategic moment: Can Sol copy the institutional interests of BTC?

May 31, 2025

Trump’s memes, which were questioned by the Supreme Democratic Party at the House Judicial Committee,

May 31, 2025

Major trends in open source funding: Insight for managers

May 31, 2025
Most Popular

EU Authorities Investigate Bank-NBFI Relationships, Including Cryptocurrencies

January 5, 2024

Ethereum Transaction Volume Drops 54%: Why It’s Not Bad News for ETH

May 19, 2024

New instructions in CFTC promise clarity for Web3 Innovators.

April 15, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.