Bitcoin / TetherLong
BTC give another Swing Long opportunity?
In the ever-evolving world of cryptocurrency trading, staying updated with the latest market trends and understanding how to interpret them is crucial. Whether you're a seasoned trader or a beginner dipping your toes in the crypto waters, it's essential to grasp the dynamics of the market to make informed trading decisions.
In this article, we're going to delve into a recent significant event in the Bitcoin trading landscape - the Swing Failure Pattern (SFP) that occurred on June 30, 2023. We'll break down what this means, how it impacts the trading strategies, and what potential moves traders could make to maximize their profits.
From understanding the importance of key resistance and support levels to identifying potential profit-taking areas, we'll guide you through the intricacies of this event. So, whether you're looking to go long or short, or simply want to understand the market better, this article is for you. Let's dive in!
BTC Price analysis
In yesterday's SFP (Swing Failure Pattern) on June 30, 2023, Bitcoin hit a low of 29504 on Kucoin. It's important to note that while trading on Bybit, the price went to clean the last low set at 29520. Bitcoin is now at a crucial point.
For all traders who potentially took a fantastic swing long, the major profit-taking area could be set at the daily resistance level of 31794. Subsequently, the potential target of the move could be around the 32750 area, which is the last pivot high. If we continue to see bullish momentum, we could even reach between 48000 - 52000.
However, if these targets are not reached, a strong price support could be found at 28787 where an nPOC (Naked Point of Control) is located.
Congratulations to all traders who bought a long position today and have reaped a profit of over 4.5% in less than 12 hours. Bitcoin's current position offers a great opportunity for traders to take advantage of the potential upward movement. As always, it's important to keep an eye on the market and adjust your strategies accordingly.
Why we are using Bybit as a Bitcoin Chart?
Trading, or buying and selling assets like Bitcoin, is a way to potentially profit from the fluctuations in their prices. Traders analyze market trends and use various strategies to predict whether the price of an asset will go up or down. By making accurate predictions, traders can buy low and sell high, or vice versa, to make a profit.
One of the reasons we trade on Bybit is because it's one of the few exchanges that show real bullish and bearish divergences on lower time frames. These divergences can be crucial indicators of potential price reversals, providing valuable opportunities for traders.
Bybit is also known for its user-friendly interface, security features, and customer service. Plus, it offers a variety of trading options, including futures contracts and leverage trading.
In 2023, Bybit is offering a special promotion: By signing up to Bybit and using the referral code '83JL3M', you can receive a Welcome Bonus of up to $4,100. The bonus varies depending on the amount of your deposit. For example, if you deposit 0.01 BTC, you'll receive a $15 bonus. The more you deposit, the larger your bonus will be. Please note that you must keep all deposited funds in your account until the bonus is issued. Additionally, if your trading volume is equal to or greater than 10,000 USD, you will automatically be eligible for a share of the 100,000 USDT prize pool!
Remember, trading can be risky, and you should always do your own research and consult with a financial advisor before making any investment decisions.
The news Wall street Bank Holiday
Adding to our discussion, it's important to note that the New York Stock Exchange will be closed for a bank holiday on July 4th, 2023. This could potentially impact the volatility of Bitcoin. With traditional financial markets closed, there might be less trading activity and, therefore, less volatility in the cryptocurrency market. However, this is not always the case.
Sometimes, when traditional markets are closed, it can lead to increased volatility in the cryptocurrency market. This is because traders who usually participate in traditional markets might decide to trade cryptocurrencies instead, leading to increased trading volume.
Moreover, with the stock market closed, it could leave an open gap on Bitcoin CME. An open gap is a space on the chart where no trading activity has taken place. This usually happens when the price of an asset moves sharply up or down with no trading in between. These gaps are often filled when the market reopens, meaning the price returns to these levels.
So, while we might expect less volatility due to the bank holiday on July 4th, it's also possible that we could see some interesting movements in the Bitcoin market. As always, it's crucial to monitor the market conditions closely and adjust your trading strategies accordingly.
In this article, we're going to delve into a recent significant event in the Bitcoin trading landscape - the Swing Failure Pattern (SFP) that occurred on June 30, 2023. We'll break down what this means, how it impacts the trading strategies, and what potential moves traders could make to maximize their profits.
From understanding the importance of key resistance and support levels to identifying potential profit-taking areas, we'll guide you through the intricacies of this event. So, whether you're looking to go long or short, or simply want to understand the market better, this article is for you. Let's dive in!
BTC Price analysis
In yesterday's SFP (Swing Failure Pattern) on June 30, 2023, Bitcoin hit a low of 29504 on Kucoin. It's important to note that while trading on Bybit, the price went to clean the last low set at 29520. Bitcoin is now at a crucial point.
For all traders who potentially took a fantastic swing long, the major profit-taking area could be set at the daily resistance level of 31794. Subsequently, the potential target of the move could be around the 32750 area, which is the last pivot high. If we continue to see bullish momentum, we could even reach between 48000 - 52000.
However, if these targets are not reached, a strong price support could be found at 28787 where an nPOC (Naked Point of Control) is located.
Congratulations to all traders who bought a long position today and have reaped a profit of over 4.5% in less than 12 hours. Bitcoin's current position offers a great opportunity for traders to take advantage of the potential upward movement. As always, it's important to keep an eye on the market and adjust your strategies accordingly.
Why we are using Bybit as a Bitcoin Chart?
Trading, or buying and selling assets like Bitcoin, is a way to potentially profit from the fluctuations in their prices. Traders analyze market trends and use various strategies to predict whether the price of an asset will go up or down. By making accurate predictions, traders can buy low and sell high, or vice versa, to make a profit.
One of the reasons we trade on Bybit is because it's one of the few exchanges that show real bullish and bearish divergences on lower time frames. These divergences can be crucial indicators of potential price reversals, providing valuable opportunities for traders.
Bybit is also known for its user-friendly interface, security features, and customer service. Plus, it offers a variety of trading options, including futures contracts and leverage trading.
In 2023, Bybit is offering a special promotion: By signing up to Bybit and using the referral code '83JL3M', you can receive a Welcome Bonus of up to $4,100. The bonus varies depending on the amount of your deposit. For example, if you deposit 0.01 BTC, you'll receive a $15 bonus. The more you deposit, the larger your bonus will be. Please note that you must keep all deposited funds in your account until the bonus is issued. Additionally, if your trading volume is equal to or greater than 10,000 USD, you will automatically be eligible for a share of the 100,000 USDT prize pool!
Remember, trading can be risky, and you should always do your own research and consult with a financial advisor before making any investment decisions.
The news Wall street Bank Holiday
Adding to our discussion, it's important to note that the New York Stock Exchange will be closed for a bank holiday on July 4th, 2023. This could potentially impact the volatility of Bitcoin. With traditional financial markets closed, there might be less trading activity and, therefore, less volatility in the cryptocurrency market. However, this is not always the case.
Sometimes, when traditional markets are closed, it can lead to increased volatility in the cryptocurrency market. This is because traders who usually participate in traditional markets might decide to trade cryptocurrencies instead, leading to increased trading volume.
Moreover, with the stock market closed, it could leave an open gap on Bitcoin CME. An open gap is a space on the chart where no trading activity has taken place. This usually happens when the price of an asset moves sharply up or down with no trading in between. These gaps are often filled when the market reopens, meaning the price returns to these levels.
So, while we might expect less volatility due to the bank holiday on July 4th, it's also possible that we could see some interesting movements in the Bitcoin market. As always, it's crucial to monitor the market conditions closely and adjust your trading strategies accordingly.
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