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20 hours left in Bitcoin halving, what do you expect?

Updated

#Bitcoin Update

Bitcoin's price dropped quickly when news broke of a potential conflict between Israel and Iran. It nearly reached a support level but then started recovering fast. This shows that the market is optimistic, but we're still stuck in a price range, so it's best to wait for a breakout.

If the price stays above this support level, we can expect a bounce upwards. However, if it breaks below this level, we might see the price drop toward $50,000.

Currently, the 100-day Simple Moving Average (SMA) is acting as support, and this blue line is strong support, which is around 50k.

20 hours left in Bitcoin halving, what do you expect?

I'll continue to provide updates, so stay tuned for more information.

#Crypto #BitcoinHalving BTCUS

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"Be careful! There's a risk in the Bitcoin market right now. In about 13 hours bitcoin halving is happening.

this is my thought on the current market.

The current market look like, where prices go up temporarily. It's like a trick by big investors or 'whales'. They make the market look good to get people to invest, but it's not real. They put a lot of money in, making it seem like prices are going up. People who want to make money see this and jump in, hoping to profit. But it's a trap. When enough people have invested, the whales take their money out, along with even more profit. This leaves small investors with losses, and the whales with even more money. It's like being a snack for them. So, be careful when you see prices going up quickly in the market.
It might not be a good time to invest."

Let me know what you think about this!

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#Bitcoin Halving completed!
What do you expect now? What's your opinion on it?

#BitcoinHalving2024 #Crypto

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Good day, traders

The Bitcoin Halving has happened again.

~1st Halving (Nov 2012): BTC price was $12.0. It reached its highest price ever at $1163.
~2nd Halving (July 2016): BTC price was $638.51. Then, it skyrocketed to a new all-time high of $19333.
~3rd Halving (May 2020): BTC price was $8475. It later surged to a new record of $68982.
~4th Halving (April 2024): BTC price is now $63839. What will the new all-time high be?

What's different this time around?

1. A Bitcoin Spot ETF is in play.
2. Big institutions and investors are jumping in.
3. More people are aware of cryptocurrencies.
4. Governments are making new rules for cryptocurrencies.
5. Cryptocurrencies like Bitcoin are being accepted globally.

Let's get to the topic

Bitcoin's halving is a critical event that helps establish Bitcoin's value as a digital asset. It reduces the rate at which new Bitcoins are created, enhancing its scarcity and potentially positioning it as a reliable store of value for the digital era, more fluid than real estate or gold.

In the most recent halving, which occurred at the 840,000th block, the reward for mining a new block dropped from 6.25 BTC to 3.125 BTC. This reduction in mining rewards means that fewer new Bitcoins are entering circulation, making existing Bitcoins more scarce.

Karim Chaib, CEO of crypto platform Dopamine App, explains why this matters:

"Scarcity is a basic economic concept that impacts asset value. By design, Bitcoin becomes scarcer over time due to the halving events, which decrease its supply at a predictable rate."

Bitcoin's halving is built into its code and occurs approximately every four years, or every 210,000 blocks. The first halving was in 2012, when the reward went from 50 BTC to 25 BTC per block. Since then, the reward has halved again in 2016 and 2020, and now stands at 3.125 BTC per block.

This predictable scarcity sets Bitcoin apart from assets like gold, which can become less scarce over time as technology improves mining efficiency. Bitcoin, with its fixed supply limit of 21 million coins, is designed to be immune to inflationary pressures.

In summary, Bitcoin's halving events ensure its scarcity over time, boosting its potential as a valuable digital asset compared to traditional stores of value like gold.

This is just for informational purposes.

Thank you for reading.

Bitcoin halving: Why it’s important for BTC scarcity

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#Bitcoin Weekly Update

Bitcoin's weekly candle closed above a key support level, which is a positive sign for the longer-term outlook. The weekly chart suggests there might be a rebound coming soon.

Looking at the shorter timeframes, Bitcoin bounced back from an expected price range and has now broken through a local resistance level. However, it's currently trading below the Ichimoku cloud. For the market bulls (buyers) to gain more confidence, Bitcoin needs to rise above this cloud.
For now, we can expect a bounce towards higher resistance levels.

Stay tuned for further updates!

#BitcoinHalving #Crypto

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#Bitcoin has made a clear upward move, as seen in the daily and 12-hour candlestick charts. Expecting a retracing back to a support area for a retest, with expectations of continuing upward.

However, it's currently trading below the Ichimoku cloud. To boost confidence among buyers, Bitcoin needs to climb above this cloud.

On the other hand, there's a lot of activity on the blockchain, showing that the market is handling the pressure well.

Stay tuned for more updates
DYOR, NFA
#Crypto #BitcoinHalving

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#Bitcoin Update

BTC tested the support level as anticipated. Right now, it's encountering resistance from the Ichimoku Cloud. To push higher, we need to break through this resistance. On the flip side, if the price consistently falls below $61,500, it indicates a bearish trend.

Currently, the price is caught between these levels, so I anticipate that this week or the weekend will remain the same. However, expect some big moves next week as volatile news emerges.

Stay tuned for further updates.

DYOR, NFA

#Crypto

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Taking a quick look at the Bitcoin liquidation map, we can still see a massive amount of liquidity to the upside. Just recently, we did take out a small amount of liquidity to the downside, but as of right now, we simply have more liquid levels to the upside compared to the downside. First of all, we have a major area of liquidity between 67.3K to 67.5K, which basically means billions of dollars in short positions will get liquidated once the price crosses above 67,500. On top of that, we also have a significant area of liquidity around 71,500, with even more liquidity at around 73,000. Honestly, it’s only a matter of time until the price of Bitcoin is very likely going to move towards those higher levels of liquidity to simply take out those levels and liquidate those positions sitting at those levels. As we can see from past patterns, the price usually moves towards the most liquidity to take out those positions.

#DYOR #NFA

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#BTC FORMING SYMMETRICAL TRIANGLE PATTERN!

#Bitcoin is forming a symmetrical triangle pattern.

Resistance is coming from the Ichimoku cloud and the 100-day moving average.

The MACD crossover suggests a shift to bullish momentum.

It's recommended to wait for a clear breakout or breakdown of the triangle to confirm the next direction.

Stay tuned I will keep updating

#Crypto #DYOR #NFA

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#Bitcoin monthly candle is closing in 2 days and is retesting the previous all-time highs! 👀

#Crypto

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#Bitcoin liquidation heatmap indicates that while there's still liquidity to the downside around 62,000, there's substantial liquidity to the upside. The primary liquidity levels reside approximately between 67,300 and 67,500. On broader time frames, even more liquidity is evident around 71,500 and 73,000. Bitcoin tends to gravitate towards areas of high liquidity, implying a potential upward movement in the future.

#Crypto

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Funding rates across exchanges currently hover around the 0.01% mark, indicating a neutral stance in the market sentiment.

Neutral funding rates suggest a balance between long and short positions, with neither dominating the market.

When funding rates dip below 0.01%, it signals an increase in short interest, with fewer traders inclined to take long positions.

Negative funding rates imply that short positions incur fees paid to long positions, potentially discouraging short positions.

Sub-neutral or negative funding rates are viewed as contrarian signals, prompting short position holders to reconsider and potentially close their positions.

This can lead to a short squeeze, where short sellers rush to cover their positions, further driving up prices.

A healthy bullish market trend is indicated by funding rates below neutral, with the potential for short squeezes to reinforce upward price movements.

Excessively high funding rates above neutral may indicate an overheated market, potentially signaling a risk of a correction or bearish sentiment.

#Crypto

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The daily #Bitcoin chart indicates a potential bullish flag pattern.

Confirmation of the pattern and bullish price target requires a breakout above resistance at approximately $71,500.

Support for pattern lies around $60,000 to $61,000

Holding above $60,000 is essential to sustain a bullish flag pattern.

Current market sentiment appears relatively neutral in the short term, taking a pause from a larger bullish trend.

Stay tuned for more updates; I will keep updating.

#Crypto #BitcoinHalving2024 BTC

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#Bitcoin most possible scenario, IMO.

What are your views on this chart?

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As expected, dropped and hit the lower level of liquidation at 61K to 61.5K, as indicated by the liquidation heatmap. Now, there aren't many liquidations at the low, but we're still waiting for some cooldown. According to this daily Bitcoin chart, BTC has been trending within this large bull flag, and it's currently above this crucial support level.

Bulls need to hold onto this support.

A daily candle close below this support will invalidate this pattern.

Stay tuned for further updates.

DYOR, NFA
#Crypto

CRYPTOMOJO_TA

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