Bitcoin Analysis for 2024!
Updated
Bitcoin Analysis for 2024!
We have been witnessing upward movements in Bitcoin for a while now. As 2024 approaches, we want to share with you the potential price movements Bitcoin might make.
Bitcoin's price is hovering around the resistance range of $44,372 - $45,821. We believe that unless Bitcoin achieves weekly voluminous candle closures above the $45,821 level, it may initiate a downward movement. If BTC manages to close candles above the $45,821 level for two consecutive weeks, the next upward target would be $53,256.
However, if Bitcoin fails to secure weekly candle closures above $45,821, we anticipate its descent to the initial support range of $38,150 - $36,163. If BTC finds strong buyers in the $38,150 - $36,163 support range, it could bounce back and ascend to the $44,000 - $45,000 range. Nevertheless, it is crucial to note that for the upward trend to continue, a weekly candle closure above $45,821 is essential.
In the event that Bitcoin's ascent from the $38,150 - $36,163 support range cannot surpass $45,821, a renewed descent may commence, leading to a range between $32,380 - $30,420. We believe that the actual upward trend for BTC will originate from the support range of $32,380 - $30,420, as indicated by the purple lines in our analysis.
If Bitcoin initiates an ascent from the $32,380 - $30,420 support range, we anticipate it reaching $53,256.
In our 2024 Bitcoin Analysis, we focus on weekly timeframe movements rather than those on lower timeframes.
Not Investment Advice.
WAGMI.
We have been witnessing upward movements in Bitcoin for a while now. As 2024 approaches, we want to share with you the potential price movements Bitcoin might make.
Bitcoin's price is hovering around the resistance range of $44,372 - $45,821. We believe that unless Bitcoin achieves weekly voluminous candle closures above the $45,821 level, it may initiate a downward movement. If BTC manages to close candles above the $45,821 level for two consecutive weeks, the next upward target would be $53,256.
However, if Bitcoin fails to secure weekly candle closures above $45,821, we anticipate its descent to the initial support range of $38,150 - $36,163. If BTC finds strong buyers in the $38,150 - $36,163 support range, it could bounce back and ascend to the $44,000 - $45,000 range. Nevertheless, it is crucial to note that for the upward trend to continue, a weekly candle closure above $45,821 is essential.
In the event that Bitcoin's ascent from the $38,150 - $36,163 support range cannot surpass $45,821, a renewed descent may commence, leading to a range between $32,380 - $30,420. We believe that the actual upward trend for BTC will originate from the support range of $32,380 - $30,420, as indicated by the purple lines in our analysis.
If Bitcoin initiates an ascent from the $32,380 - $30,420 support range, we anticipate it reaching $53,256.
In our 2024 Bitcoin Analysis, we focus on weekly timeframe movements rather than those on lower timeframes.
Not Investment Advice.
WAGMI.
Trade active
2024 #Bitcoin Analysis!Bitcoin fell 9% after our previous analysis. With the last bullish move, he made contact with the resistance zone again.
There is no change in our expectations stated in the previous analysis. We continue to follow.
NFA.
WAGMI.
Trade active
#Bitcoin 2024 AnalysisThe resistance specified in the analysis has not yet been broken, our expectation continues. The support range we expect to decline is the $38,150 - $36,163 zone range. If the price starts to rise from this specified support range, we can see an increase to $44,000 again.
NFA.
WAGMI.
Trade active
2024 #Bitcoin Analysis UpdateWith the 48K movement of Bitcoin, we can say that it cleared the liquidity in the region indicated by the arrow on the left side of the analysis.
When we evaluate it on a resistance basis, it did not have a weekly candle close above the $45,821 resistance. Therefore, there is no change in our price movement expectation in analysis.
We think Bitcoin will fall to the $38,150 - $36,163 support range as long as it does not close the weekly candle above the $45,821 level.
NFA.
WAGMI.
Trade active
Trade active
Note
2024 Bitcoin Analysis UpdateBitcoin experienced an initial drop to $38,150, as we anticipated. The price then initiated its ascent from $38,550.
Simultaneously, it continued its upward trend by closing the weekly candle above the $45,820 resistance level. It is progressing towards the previously mentioned target of 53K, as outlined in our previous analysis articles.
Caution should be exercised when Bitcoin reaches $53,000. Opening shorts without a change in market structure on lower timeframes is risky.
WAGMI
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