Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Urgent Bitcoin Price Warning: Matrixport Signals Bearish Breakdown Risking Further Decline

Is your crypto portfolio prepared for a potential downturn? The cryptocurrency market is known for its volatility, and recent analysis from Matrixport suggests a concerning development for Bitcoin. According to a recent update, Bitcoin has broken a crucial technical support level, potentially paving the way for further price declines. Let’s dive into what this means for you and the broader crypto landscape. What’s Triggering the Bitcoin Price Dip? Leading crypto services provider, Matrixport , has issued a warning regarding Bitcoin’s recent price action. In their latest market analysis shared on X (formerly Twitter), Matrixport highlighted a significant technical breakdown. Bitcoin has breached its ascending broadening wedge pattern. But what exactly does this mean? Ascending Broadening Wedge: This is a chart pattern that typically forms when the price of an asset makes higher highs and lower lows, creating a widening wedge shape. It’s considered a bearish pattern because it often indicates weakening upward momentum and a potential shift towards a downtrend. Bearish Signal: When Bitcoin breaks below the lower trendline of this wedge, as Matrixport points out, it’s a strong signal that the bearish momentum is gaining strength. This breakdown suggests that the previous support levels may no longer hold, increasing the risk of further price drops. Low Trading Volume Amplifies Risk: Compounding the concern is the current low trading activity in the market. Lower volume can exacerbate price swings, making it harder for dip-buying to provide significant support and potentially leading to sharper declines. Bitcoin Price Breakdown: Key Levels to Watch So, what are the key levels to watch now that Bitcoin has broken this bearish pattern? Understanding these levels can help you navigate the current market uncertainty. Level Significance Actionable Insight Previous Support (Broken) The ascending broadening wedge’s lower trendline, now acting as resistance. Expect potential rallies to face resistance at this level. Immediate Support Below Identifying immediate support levels is crucial for understanding potential bottom ranges. Monitor order books and on-chain data for potential support clusters. Resistance Levels Above Levels where selling pressure is likely to increase, hindering upward movement. Be aware of resistance levels when considering short-term trades or re-entry points. It’s crucial to remember that technical analysis provides probabilities, not certainties. While the bearish pattern break is a warning sign, the crypto market is dynamic and influenced by numerous factors beyond technical charts. Ethereum Echoes Bitcoin’s Bearish Signals The concern isn’t limited to Bitcoin alone. Matrixport also notes a similar technical breakdown in Ethereum. According to their analysis, Ethereum has also broken a comparable pattern, invalidating its previous support range of $2,600–$2,800. This suggests a broader crypto market sentiment shift, potentially driven by similar underlying factors affecting both leading cryptocurrencies. This synchronized breakdown in both Bitcoin and Ethereum could indicate: Wider Market Weakness: A systemic weakness affecting the overall cryptocurrency market, not just isolated assets. Reduced Investor Confidence: Potentially reflecting a decrease in investor confidence due to macroeconomic factors, regulatory concerns, or other market-wide events. Increased Downside Risk: Elevated risk of further declines across various cryptocurrencies, especially those closely correlated with Bitcoin and Ethereum. Navigating the Potential Price Decline : What Should Crypto Investors Do? In light of Matrixport’s analysis and the potential for further price decline , what actionable steps can crypto investors take? Exercise Caution: Given the bearish signals, caution is warranted. Avoid impulsive decisions and prioritize risk management. Review Portfolio Allocation: Assess your crypto portfolio’s risk exposure. Consider rebalancing or reducing exposure if your risk tolerance is low. Stay Informed: Keep abreast of market developments, news, and further technical analysis from reputable sources like Matrixport and others. Manage Risk with Stop-Loss Orders: Employ stop-loss orders to limit potential losses if prices continue to decline. Consider Dollar-Cost Averaging (DCA): If you believe in the long-term potential of crypto, DCA can be a strategy to mitigate short-term volatility by averaging your entry price over time. Looking Ahead: Is a Rebound Still Possible? While the current technical outlook is bearish, Matrixport does offer a glimmer of hope. Their analysis suggests that a rebound in Bitcoin is still expected later in the year. However, this technical breakdown serves as a critical warning in the short-term, urging investors to be vigilant and prepared for potential further volatility. The crypto market is inherently cyclical. Bearish phases are often followed by bullish rebounds. Understanding technical indicators like the ascending broadening wedge, and heeding warnings from expert analysis like Matrixport’s, can empower you to make informed decisions and navigate these market cycles effectively. While the immediate future may present challenges, the long-term narrative of cryptocurrency innovation and adoption remains compelling. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. AMB Crypto

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SUNDOG is available for trading!

We’re thrilled to announce that SUNDOG is now available for trading on Kraken! Funding and trading SUNDOG trading will be live as of 15:00 UTC today, Feb 25, 2025. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’. Make sure to deposit your tokens into networks supported by Kraken. Deposits made using other networks will be lost. Trade on Kraken Please note: Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched). Geographic restrictions may apply. Here’s some more information about this asset: Sundog (SUNDOG) is the biggest dog meme on TRON , bringing sunshine, fun, and community spirit to the blockchain. Every chain needs its dog, and Sundog is here to shine. A serious yet playful memecoin, spreading joy, memes, and good vibes across the TRON ecosystem. Ready to trade but don’t have a Kraken account yet? Sign up today ! Get Started with Kraken Will Kraken make more assets available? Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here , and all future tokens will be announced on our Listings Roadmap and social media profiles . Our client engagement specialists cannot answer any questions about which assets we may be making available in the future. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorized to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here . The post SUNDOG is available for trading! appeared first on Kraken Blog . AMB Crypto