BEARISH 📉 : Bitcoin SuperTrend Indicator Signals Potential Long-Term Bear Market

Bitcoin experienced a 5.4% price increase on February 13th, offering short-term relief for traders. However, technical analysis suggests potential long-term bearish trends.

SuperTrend Indicator Signals

  • The SuperTrend Indicator is signaling a possible market shift for Bitcoin towards a bearish trend.
  • Historically, similar signals have preceded bear markets, such as in 2014-2015, 2018, and 2022.
  • If the monthly candle closes below the SuperTrend line, it may indicate a long-term retracement.

Despite past patterns, current market dynamics differ due to institutional involvement and ETFs, which could impact future trends.

Market Implications

  • If the bearish signal aligns with broader market activities, Bitcoin might face a devaluation of at least 60%.
  • Conversely, new demand could mitigate the bearish outlook, making it a temporary warning.

Bitcoin Price Overview

  • Current valuation: $68,984, marking a 4.5% rise in the last 24 hours.
  • Monthly decline: Approximately 29%, according to CoinGecko data.

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