Bitcoin's Post-ETF Approval Decline Explained

January 16, 2023

January 14, 2023

January 14, 2023

Image Credit: Pinterest

By Pooja

Bitcoin dropped post-ETF trading due to pre-priced approval, with whales selling at $49,000.

Image Credit: Pinterest

ETF Trading Impact

"Using retail money as exit liquidity" during ETF approval.

Image Credit: Pinterest

Exit Liquidity Strategy

Caution is advised as Bitcoin sits at a key monthly supply area.

Image Credit: Pinterest

Key Monthly Supply Area

Resistance at $48k signals the potential for high timeframe pullback.

Image Credit: Pinterest

High Timeframe Resistance

The weekly chart shows a range; as long as above $40,000, with minimal concern.

Image Credit: Pinterest

Weekly Chart Analysis

Doji pattern observed; traders may sell, but majority sentiment matters.

Image Credit: Pinterest

Doji Pattern Alert

Long-term holders need not worry unless Bitcoin drops below $40,000.

Image Credit: Pinterest

Long-Term Holder Perspective