Cryptocurrency strategist Ali Martinez made important warnings about the future of Bitcoin. In his latest analysis, Martinez detected a bearish trend in two important metrics, which could be a notable signal for Bitcoin investors. Details are in our news…
The first factor that Martinez points out is the slowdown in the growth rate of the Bitcoin network. Based on his analysis, Martinez notes that Bitcoin’s price is generally directly proportional to network growth. However, the fact that the Bitcoin price has been on the rise despite the recent slowdown in network growth should be considered a worrying “red flag”, according to Martinez.
“This suggests that the uptrend may not have enough momentum to sustain. “This bearish divergence between BTC price and network growth is an on-chain sell signal that traders should be aware of.”
Sharing his concerns about the future of Bitcoin, Martinez also mentioned the critical levels to be monitored in a possible decline scenario. states. According to the strategist, if Bitcoin enters a downtrend, the $34,300 and $30,200 levels are critical support points where the digital asset will see significant demand.
“Bitcoin has found stable support around $36,400 but if this level breaks, the next critical demand zones for BTC will be $34,300 and $30,200.”
NEWS CONTINUES BELOW
Turning to Ethereum (ETH), Martinez says the second-largest crypto asset by market cap may enter a bearish trend, according to the Tom Demark (TD) Sequential indicator on the 3-day chart. TD Sequential is used to identify major turning points in markets.
According to Martinez, the key level for Ethereum lies in the resistance zone between $2,000 and $2,150 as it forms an ascending triangle formation on the 3-day chart. Ascending triangle formations are generally considered bullish.
“From this resistance level [2.000 dolar – 2.150 dolar direnç bölgesi] a retreat, [yükselen] It could cause the hypotenuse of the triangle to decline towards $1,700, setting the stage for a potential continuation of the uptrend.
Watch the critical $2,150 level; “A 3-day sustained candlestick close above this could invalidate the bearish view.”
You can follow the current price movement here.