Bitcoin’s Dramatic Dance: Will It Waltz to $90K or Crash to $73K? 💃🕺

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Ah, the ever-dramatic Bitcoin! After a rather theatrical three-day tumble, our dear cryptocurrency has decided to take a breather on this fine Thursday, mimicking the rather pedestrian performance of US stocks. The S&P 500 and Nasdaq 100 futures have perked up a tad, all thanks to NVIDIA’s splendid earnings report, which has everyone buzzing about the insatiable demand for AI chips. And lo and behold, the Ichimoku cloud indicator is whispering sweet nothings of a potential reversal to a dazzling $90,000! 🎩✨

It seems Bitcoin and US stocks have developed a rather unhealthy obsession with Donald Trump’s latest musings on inflation. He’s hinted at continuing those charming steel and aluminum tariffs, not to mention those pesky neighbors, Canada and Mexico. Oh, the drama! 🎭

Bitcoin Price Crash Pauses as US Stocks Rises

On this delightful Thursday, Bitcoin has managed to rise modestly, reaching a rather respectable intraday high of $87,000, up from this week’s rather dismal low of $82,177. This little recovery coincided with the S&P 500 index futures rising by a mere 41 points to $6,000. Meanwhile, the Nasdaq 100 and Dow Jones decided to join the party, rising 180 and 155 points, respectively. How very generous of them! 🎉

The main star of this recovery show? Strong NVIDIA earnings, of course! With a staggering $39 billion in the fourth quarter, it seems top clients like Microsoft and Amazon just can’t get enough of AI. NVIDIA stock has waltzed up by over 1.5% in the premarket, following this delightful news. 💰

Now, let’s not forget the correlation between Bitcoin and US stocks. This week’s BTC crash was rather predictable, occurring right after the S&P 500 index flashed a rather ominous sell signal. How quaint! 🧐

However, lurking in the shadows is the risk of impending US tariffs, which could very well ignite a trade war that would send BTC and other assets into a tizzy. Trump’s desire for reciprocal tariffs may lead to higher inflation and a rather sluggish growth. Oh, the suspense! 😱

BTC Ichimoku Cloud Indicator Points to a Brief Pullback

Enter the anonymous X trader, a mysterious figure who accurately predicted the recent Bitcoin price crash. This sage believes the coin may drop to around $84,000 this week. He’s added the Ichimoku cloud to the daily chart, with conversion line lengths and spans that sound like a rather complicated cocktail recipe. 🍸

His current scenario suggests a brief pullback to the 20-day Weighted Moving Average (WMA) at $90,000. In the worst-case scenario, he foresees Bitcoin crashing to a rather disheartening $80,000. How positively tragic! 😢

Our trader’s moderately bullish case is based on an inverse head and shoulders pattern forming on the hourly chart. The left shoulder is lounging around $86,000, while the head is sulking at this week’s lowest level, with the neckline near the $90,000 level. If this pattern behaves, we might just see a bullish breakout to a fabulous $95,000! 🎈

Double-Top Points to a Bitcoin Crash to $73,615

Our anonymous analyst, ever the optimist, believes BTC may have a brief rebound to $90,000. But don’t pop the champagne just yet! There’s a risk that the coin could plummet to a rather dismal $73,615. Oh, the irony! 🍾

This target is based on a double-top pattern formation at $108,300, with its neckline at $89,100. The depth of this double-top is about 18%, and measuring that distance from the neckline points to a drop to $73,615. How delightfully coincidental that this price aligns with the March 2024 high! 🎯

Such a crash, dear reader, would be a bullish BTC

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2025-02-27 20:24