Bitcoin Price Alert: Key Indicator Issues Warning, But There's a Catch

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Supporting this outlook is the fact that Bitcoin is currently facing resistance at the mid-level of a parallel channel. If Bitcoin faces rejection at this key price level, it might trigger a short-term price drop. Ali adds a note of warning for Bitcoin buyers to exercise caution, given this indicator's track record. The most important thing to watch is if BTC drops below the $65,500 support level.

BTC had fallen beneath this highlighted level at the time of writing, down 2.67% in the last 24 hours to $65,168. Mid-April has historically been a period of price weakness for BTC.The crypto community watches with rapt attention to deduce BTC's next price move as it navigates its post-halving trajectory. , Bitcoin's key whale tier holding between 1,000 and 10,000 BTC, has accumulated 266,000 more BTC since the start of 2024. This translates to an accumulation of 1.

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