BTC Price Analysis: Bitcoin Taps $44K But Warning Signs Appear, What’s Next?
![BTC Price Analysis: Bitcoin Taps $44K But Warning Signs Appear, What’s Next?](https://cryptoinvestment.at/wp-content/uploads/2022/02/btc-price-analysis-bitcoin-taps-44k-but-warning-signs-appear-whats-next.jpg)
Bitcoin has been supported by the dynamic and static support levels on the daily frame. However, from an onchain perspective, the intensity of whale activities is signalling a possible sell pressure in short term. It remains to be seen if it can be absorbed by the buyers and seeing bitcoin breaking above the next major resistance around $48K.
Technical Analysis
By: Shayan
Long-Term
Bitcoin has been supported by the 100-day moving average and the $40K-$42K support zone simultaneously. The next major resistance area will be the $48K zone and the 200-day moving average. A new all-time high will become more probable if Bitcoin successfully breaks and consolidates above these two levels.
![Technical Analysis; D-TF](https://cryptopotato.com/wp-content/uploads/2022/02/d-2.jpg)
Short-Term
On the 4H time frame, the price is currently testing a major bearish trendline. If it can break this trendline, the next short-term resistance will be the $45.7K level (Blue horizontal line). However, a pullback to the demonstrated bullish trendline is expected if the price is rejected from the mentioned levels. A breakdown from the ascending line may cause BTC to drop deeper and test the $33K bottom.
![Technical Analysis; 4HR-TF](https://cryptopotato.com/wp-content/uploads/2022/02/4h-2.jpg)
Onchain Analysis
By: Edris
Historically, high values of the whale ratio metric have led to a price correction. It is calculated by dividing bitcoin’s top 10 inflows to exchanges by all the inflows in a day. In this situation, we can conclude that the whales are depositing BTC to exchanges rapidly, and a correction is highly probable. In the last couple of days, the Whale Ratio has spiked – a bearish signal for the short term.
![Whale Ratio](https://cryptopotato.com/wp-content/uploads/2022/02/on.jpg)