Bitcoin’s exchange balances have reached their lowest levels since March 2018, dropping below 2.3 million BTC due to major outflows from Binance and Coinbase. This indicates a shift towards long-term holding strategies as whales transfer assets to private wallets, suggesting anticipation of future price increases. The bullish outlook for Bitcoin has investors speculating on potential significant gains in the near future.
Currently priced at $67,731, Bitcoin faces a bearish price prediction as long as it remains below the pivot point of $68,000. Immediate resistance levels are at $69,000, $70,600, and $71,000, while support levels are at $66,650, $65,950, and $65,150. Technical indicators such as the RSI and the 50-day EMA suggest a neutral trend, with a double bottom pattern supporting Bitcoin near $67,750. Breaking above the 50-day EMA could target the next resistance levels at $69,000 and potentially higher.
Bitcoin is struggling to surpass the $67,800 level due to bearish signals from the 50-day EMA and RSI, with the formation of doji and spinning top candles indicating market exhaustion. Monitoring the pivot point at $68,000 is crucial, as falling below this level could signal a bearish trend, while moving above it may present a bullish opportunity. Traders are advised to consider buying above $68,000 for possible gains, while a drop below this level could suggest a bearish trend.
The innovative Wiener AI (WAI) meme coin, themed around a sausage dog, offers advanced AI-powered trading tools and utility beyond novelty. WAI’s presale has attracted $3.85 million in investments, signaling strong interest in the coin. With AI trending in the market post-Nvidia’s earnings, WAI is expected to see increased demand. Additionally, 20% of the total supply is allocated for staking rewards, offering a 396% APY. Crypto analysts rate WAI, with a presale price of $0.000713 and market cap below $50 million, as a top 2024 pick with potential for significant returns for early investors.
