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$PI so everyday it drops by 0.1, the rocket seems to be out of fuel...... call Elon😂😂

Bitcoin is currently experiencing a significant "death cross," a bearish technical signal, amidst growing global economic tensions. This event aligns with major geopolitical developments, including Donald Trump’s impending tariffs on all countries, the sharp decline of the Japanese stock market, and the downward trend in the S&P 500. In this analysis, we will discuss what this signal means for Bitcoin, the CME gap created over the weekend, and other critical reversal signals shaping the market. CME Gap and Market Reversal Signals Bitcoin has once again formed a CME gap, similar to last weekend. Historically, about 95% of CME gaps get filled, indicating a high likelihood of Bitcoin revisiting the $84.4K level. This potential upward movement of 2.8% could be bullish for Bitcoin. On the short-term charts, Bitcoin is forming a bullish divergence, a positive reversal signal. However, ongoing global uncertainties, including geopolitical tensions and Trump’s strong stance on foreign policies, add to market volatility. Additionally, Elon Musk’s recent comments about challenging the Federal Reserve could also influence market sentiment. Institutional Accumulation and Market Sentiment Despite market corrections, major institutions such as MicroStrategy and Metaplanet continue accumulating Bitcoin. Metaplanet recently issued 2 billion yen in bonds to increase its Bitcoin holdings, demonstrating strong institutional confidence in the asset. Looking ahead, the market faces significant volatility with key economic events on the horizon. The second of April marks the implementation of new tariffs, while employment and inflation data from the U.S., along with a speech by Jerome Powell on April 8, could heavily impact asset prices, including Bitcoin. The Death Cross and Historical Performance The death cross, a bearish indicator where two moving averages cross, has historically signaled market downturns. Previous occurrences have led to significant bear markets, such as Bitcoin's fall to $16,000 in a past cycle. However, recent instances of the death cross have been unreliable. For example, when Bitcoin was at $27,000, the indicator flashed a bearish signal, but the price later surged to $70,000 and beyond. Given the mixed historical accuracy of this indicator, traders should remain cautious. While some on social media express fear, the overall liquidity trend suggests potential upside movement in global markets. Technical Outlook and Key Levels Bitcoin remains in a short-term downtrend, consistently rejecting a major resistance level. The market needs a breakout above this level to confirm a bullish reversal. On the weekly time frame, Bitcoin is still holding above a crucial support line. However, a break below this support could lead to further downside. Funding rates remain negative, particularly in altcoins and Bitcoin, suggesting that many traders are shorting the market. Historically, such conditions have preceded upward price movements. Additionally, Bitcoin’s hash rate continues to rise, a positive long-term signal that often correlates with price increases. Trading Strategy and Market Positioning For traders, the key focus should be on breaking the current downtrend. If Bitcoin successfully flips into an uptrend, new all-time highs could follow. Meanwhile, grid trading strategies, which accumulate Bitcoin on dips and sell during price surges, remain effective in volatile conditions. Despite minor losses in current positions, accumulation strategies continue. As prices decline, adding to Bitcoin and Ethereum holdings could prove beneficial in the long run. Traders looking to set up grid trading bots or follow Bitcoin and Ethereum strategies can find relevant resources through reputable exchanges. Conclusion Bitcoin's market remains highly volatile, with major economic and geopolitical events influencing its direction. While technical indicators such as the death cross and CME gaps provide insight, traders should consider broader macroeconomic trends and institutional activities. Staying informed and employing sound trading strategies will be crucial in navigating the ongoing market fluctuations. $BTC

Elon Musk says US gov has 'no plans' to use Dogecoin; price drops 3%

ELON/USDT

$DOGE 🆕Elon Musk says US gov has 'no plans' to use Dogecoin; price drops 3%