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Bitcoin updates confirm optimism as the crypto maintained uptrends since early 2023, ignoring multiple sell signals as players focused on the potential spot exchange-traded fund approval.
Meanwhile, declining liquidity as the holidays approach might see Bitcoin plunging from its current territory (at the $37K vicinity).
Nonetheless, BTC remains stable in the long-term outlook, and analysts predict significant rallies for the asset. Solid projects such as the Memeinator (MMTR) will likely explode upon market-wide surges. Meanwhile, let’s check how crypto prices could perform in the near term.
Bitcoin’s sell indicators
The leading asset’s gradual surges since 27 October produced several higher highs, which created a bearish divergence with the Relative Strength Index. That highlighted a sell sign that predicts a downward move.
The 24-hour BTC chart indicates that the mentioned higher lows created sell-side liquidity. Thus, the bearish divergence-triggered slide might drop BTC towards the 27 October swing low of $33,350.
Though not always, trend reversals often occur upon liquidity collection. Prices might maintain similar directions in some scenarios.
While liquidity and volume will likely dip during the holidays, enthusiasts can expect Bitcoin’s downtrend soon.
The broad crypto market will possibly perform according to Bitcoin’s movements. However, the new meme project Memeinator plans to outshine other digital coins.
Memeinator’s (MMTR) potential
Memeinator is a themed crypto project that aims to revolutionize the meme token industry by allowing enthusiasts to invest in digital assets with utility. It will leverage artificial intelligence (AI) to search and destroy weak competitors.
Memeinator’s eye-catching tokenomics will propel the asset’s success to be the most valuable and traded meme crypto. Also, the upcoming developments, such as the upcoming game, make the project lucrative to prospective investors. The dedicated team seems committed to keeping MTTR elevated.
MMTR price forecast
MMTR price remains poised for impressive rallies. The asset has seen massive investor attention in its presale stage, raising over $1.49 million. Memeinator trades at $0.0133 at press time, and interested buyers can visit the official website to purchase MMTR.
Final thoughts
While the crypto market exhibits a correction bias, enthusiasts should consider the enormous potential of the ETF approval debate. Continued optimism could push BTC towards $40K before potential declines. Also, this expected plunge might fail to surface.
Still so far, so good on #Bitcoin.
Slowly grinding upwards to a new resistance point and a break above $38K immediately means $40K is next. pic.twitter.com/3ZUkS72I6g— Michaël van de Poppe (@CryptoMichNL) November 24, 2023
A Bitcoin move past the $42.1K region might lure retail investors and sidelined buyers to invalidate bearishness. That would see the bellwether crypto extending its rallies. Magnified FOMO might bring significant levels (such as $45K and $50K) into play.
Memeinator, combining AI and blockchain position as an upside-only crypto project, and massive broad-based surges will support MMTR’s upticks to record highs.
The post Memeinator, Bitcoin price forecast amid delayed ETF approval appeared first on Invezz
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.