Long

BITCOIN will deceive sellers and rise to $73,000!

Updated

Yesterday's inactivity of sellers in the $64500 range gave a chance for a local wave of growth for bitcoin and the entire cryptocurrency market.

https://www.tradingview.com/x/bJcN6YYq/

⚡️ In our previous idea, we wrote about the failure rate of the $64500 range:

BITCOIN is on the verge of a deep fall. What can save the growth

💥On the 12-hour timeframe, sellers failed to break through the 64500 range for 5 candles. And growth after such a failure should be aggressive.

On the 4hr timeframe, yesterday's weakness of the sellers was well worked out:

The BTC price failed to gain a foothold below the 64800 mark, and the local growth of bitcoin continued.

⚡️The USDT dominance indicator broke the trend line down:

If the USDT dominance does not rise above 4.9% today, we expect a drop to 4.6%. This is the most modest target at the moment.

The BTC dominance chart has yet to break through the 55% mark. There is a feeling that the BTC dominance nightmare is not over, despite the clear signals of a drop on the daily timeframe:

💎Therefore, today we expect such feats from customers:

✅Not to lose control of 65100
✅To develop the trend line from June 7 upwards and test the 67300 mark

For now, the main scenario is growth to 70000 and the recovery of altcoins.

💎If you are interested in the forecast of other cryptocurrencies, write their names in the comments!

Note

An overview of the FTM cryptocurrency.

If you would like us to make a forecast for a cryptocurrency you are interested in, please write in the comments the name of the cryptocurrency and what to emphasize in the forecast.

Note

If you look at the ENJBTC chart, you can see that the price has been in the liquid zone since 2017. Recently, the price of ENJBTC has accelerated its downward trend. This often happens before the end of a trend.

Therefore, the chance of a rebound in the price of ENJBTC in the next few months is quite high.

However, on the daily timeframe, there is no reaction from buyers so far, and it is quite risky to buy this cryptocurrency right now.

From this range, we do not expect a significant decline in the price of ENJ. However, to complete the reversal, there is a chance for local updates of the lows.

In a pair with USDT on the weekly timeframe, ENJ approached the purchase zone with the first target of $0.3

On the daily timeframe, we expect the ENJUSDT price to reverse in this manner:

P.S. If you are interested in the forecast of other cryptocurrencies, please write a comment under this idea, where you specify the name of the cryptocurrency and what we should pay special attention to when analyzing (for example, you are interested in where to enter or exit a position)

Note

EOS looks like a dead cryptocurrency. If you look at the EOSBTC chart on the 2-week timeframe, the price is falling without resistance.

Until the price of EOS BTC rises above 0.00002, this cryptocurrency should not be considered for investment.

Note

AEVO does not show strength and a high probability of reversal. The 3-day timeframe shows that the downward wave in the pair against BTC is incomplete:

However, on the 12-hour timeframe, there is a high chance of a 20% rebound in the AEVO price:

For such a scenario, it is necessary that the AEVOBTC price does not update the local low during the weekend.

In order to invest in AEVO safely, you need to wait until the price breaks through $0.5:

In this case, you can buy AEVO in the range of $0.46 with a stop order below $0.44

Note

Cryptocurrency TAO has entered an important area of interest:

Along with BTC, we can see that trading volumes have increased and a downward trend reversal is likely to be forming.

The liquid zone where you can risk buying TAOBTC is 0.0041. In this liquid zone, buyers stopped the price from falling with large limit orders.

TAO in a pair with USDT suggests such a medium-term long trade:

Buy zone is $263

Note

LINK. If we look at the LINK cryptocurrency in a pair with BTC, we can see a broad consolidation on the weekly timeframe:

Now the price of LINK is near its lower boundary (range 0.00018)

It is about 10% away from this range. Therefore, globally, the LINK cryptocurrency is completing its wave of decline since February 12.

On the LINKUSDT chart, we can see that the price is reaching the critical $13 mark. This is the last liquid zone, after which the price of LINK could fall to $10.

Once buyers are able to break through the $14.7 mark upwards, LINK can be considered for purchases.

Note

MOVR has entered a good buying zone on the weekly timeframe.

After the first growth impulse that occurred in the MOVRBTC pair back in December 2023, the price is still correcting.

The first local upside target is 0.00036

Let's move on to the MOVRUSDT pair.

The ideal purchase zone is $7.3:

In this range, we expect buyers to react with the first target at $22.7

Note

GTAI.

Cryptocurrency GTAI has broken through the strategically important range of $1.36

After breaking this range down and retesting, the price continued to fall on increased volumes:

However, it's too early to talk about a reversal of the downward wave.

Until buyers regain control of the $1.36 range, GTAI may remain in a downward trend for a long time.

Therefore, we do not recommend investing in this cryptocurrency at this time.

Note

GMT.

So far, the weekly timeframe of the GMT cryptocurrency paired with BTC has not inspired investment:

The downward trend is slowing down a bit. However, there are no signals of a trend reversal or at least a stop.

In a pairing with USDT, the GMT cryptocurrency is at a critical point on the weekly timeframe:

If the GMT price does not stop in the range of $0.13, the chance of a 30% drop will increase significantly.

Nevertheless, the update of the local low of October 9 will not mean that the strong decline will continue. We allow for the scenario of an easy update of the low and a strong reaction from buyers. In this scenario, it will be much safer to buy GMT cryptocurrency.

Note

POLYX.

The POLYX cryptocurrency broke through the liquid zone of $0.35 on the daily timeframe:

For 4 days, buyers on small volumes cannot raise the price above the daily liquid zone.

The chance of POLYX continuing to fall with a target of $0.235 is quite high.

Therefore, it is worth buying this cryptocurrency when:

- The price rises above $0.35
- The price falls to the $0.235 range

Now it is dangerous to do so.

Note

We made predictions for 11 cryptocurrencies that our subscribers wrote in the comments below the idea.

Those who haven't yet managed to write down the cryptocurrencies they are interested in have until Monday to do so.

Note

Prices of WLD on the 3-day timeframe have entered a range that is strategically important for growth:

So far, we don't see much interest from buyers to buy WLD with confidence. However, we expect a minimum rebound of 50% in the WLDBTC price.

WLD paired with USDT on the 3-day timeframe has entered the medium-term buying zone. The first target for growth is $6.12. After this growth, we will expect another wave of decline, after which the prospect of growth to $9 will open up

P_S_trade

🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE

🔥V-I-P cutt.ly/PwkLhT56

👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s

🔵Telegram t.me/pstrade_eng

Also on:

Related publications

Bitcoin BTC price + CPI US 15.05 will stir up the market

by P_S_trade

BITCOIN is on the verge of a deep fall. What can save the growth

by P_S_trade

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.