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ATH

BTC | Price CELEBRATES Trump VictoryBitcoin has increased by 13% after Donald Trump has been declared the next President of the United States, beating rival candidate Kamala Harris. Over the past few months, Trump has claimed to be very open to cryptocurrency and this victory has done nothing short of pushing the price to a new ATH... and climbing! There are two ways in which we can calculate the net major stops; one I have been speaking about since MARCH. This target seems to be the likely next stop for BTC in the short to near term. Time will tell if the new POTUS will be kind or cruel to crypto - remember that time we all rooted for Garry Gensler...? About that... Let's hope this time will be different. If you want to know al little bit more about how ALTSEASON fits into this picture, check out the following idea: _________________________ BINANCE:BTCUSDT
BITSTAMP:BTCUSDLong
by CryptoCheck-
1
ATH from Historic Average PerspectiveHISTORIC AVERAGING The point of historic averaging is to provide a long-term perspective on an asset’s price by calculating an average that considers all available historical data. The simplest is Arithmetic All-Time Average PineScript: ta.cum(close) / (bar_index + 1) To get it we must add up all closing prices and divide by number of bars. (Bar_index + 1 because bar_index starts with 0, which can mess up calculation!) It provides us with some useful information: Long-Term Trend Identification Current Price Contextualization - point of reference to assess how high is the current price than its historical Average Exposes Long-Term Support levels - the historic average often aligns with significant support (True for Bitcoin particularly) Since Arithmetic Averaging is more venerable to lagging, it made a significant gap from the lows: If the weights weren't identical, the gap distance would have been less. So we can use other method of averaging for more precise alignments of the cycle Lows Weighted Historic Average: This method assigns increasing weights to each bar over time, prioritizing later candles even more significantly. This method is particularly useful when you want to view the trend as influenced by more recent activity but still considering the entire data set. It may help in understanding price dynamics under growing market volume or volatility, as recent bars affect the average more prominently. With such weighting method applied, the historic average better indicates long-term support levels making them more reliable to draw a relationship between current price and the Historic Average. This post is not even about the rhyme of Weighted Historical Average with cycle lows. If we divide closing price by WHA, we would get an idea how many times Bitcoin has been higher than the average during the times establishing All Time High. Given the current uptrend, which shows potential to develop into a full-scale bull run, we can anticipate the next long-term ATH by monitoring the Close/Historic Average. As this metric rises and breaks above shaded levels, it signals continued momentum. Conversely, if it crosses below the first shaded range, this may indicate that a long-term ATH has been set, suggesting the market could be primed for the next significant correction phase.
INDEX:BTCUSD
by fract
Bitcoin - Gearing Up for NEW ATHBitcoin is showing a sudden increase in momentum, and the pattern I was watching has played out successfully after the last update: Ultimately, the playout I have been talking about for MONTHS were as follow: And this is the recent chart data on that exact idea: I'm happy to finally see everything come together - it took some patience though! Finally - impulse wave 4-5 (Elliot wave Theory) is in play! From here, we can expect ETH to gradually creep along, and when BTC trades sideways ETH and other top10 market cap alts will make gains. Find more on that, here: When ETH stalls (and BTC even retraces a little) that's when the smaller cap altcoins will shine. Cheers to another ATH 🥂🍻 _____________________ OKX:BTCUSDT
Long
by CryptoCheck-
28/10/24 Weekly outlookLast weeks high: $69,526.58 Last weeks low: $65,268.55 Midpoint: $67,397.56 2021's ATH of $69,000 was once again broken last week, that makes it the 8th time this year BTC has broken through that level. Each and every time so far price has rejected off without price acceptance above it. We are now 7 days away from the US election, with Trump in the lead in the polls and Wall Street preparing for another Trump presidency I expect to see crypto start to push on after the 8 month chop. The plan for a Bitcoin strategic reserve and favourable law-making towards the crypto market is a positive. We also have the FTX distribution in 2 weeks, that's $16B coming back into the market, perhaps not all of it will stay in crypto but even if a portion of that remains that will be a significant boost to buyside pressure. All in all BTC is in good shape currently, I would like to see acceptance above the all important $69,000 level by the end of the week setting us up well for the US election. Obviously what happens there is unknown until we get the result and typically fear can be negative for the markets so maybe we don't see acceptance this week but I am confident that the R:R at current price looks good with many signals showing growth is likely going into the end of Q4.
by ProR35
Bitcoin ATH 80K – A Technical Analysis UpdateIn my initial analysis on October 8, I projected Bitcoin's path toward an all-time high (ATH) of 80K based on a thorough review of Fibonacci retracement levels, trendlines, and market indicators. Now, with Bitcoin moving as anticipated, it's time for an update on the technicals and what we can expect going forward. Key Technical Analysis: Fibonacci Retracement Levels: The 0.618 retracement level (~66,666 USDT) has proven to be a strong support zone. Bitcoin tested and respected this level, reinforcing the bullish momentum. With the price hovering around 66K, the next key level to watch is 71,068 USDT (0.5), followed by 75,471 USDT (0.382), which will confirm the trajectory towards the ATH. Ascending Trendline Support: The upward trendline I marked earlier has continued to act as a solid support. Price movements above this trendline signal continued bullish momentum, showing that buyers are confident at higher levels. Channel Breakout: Bitcoin broke out of its consolidation phase (March to September 2024) in line with the analysis. The breakout from the descending channel is significant, pointing to a sustained bullish trend. This kind of movement typically precedes higher price targets, which aligns with my projection toward 80K. Moving Averages (MA): The 50-day and 200-day moving averages are still in a positive alignment, offering support for the upward movement. As long as Bitcoin stays above these levels, the bullish case remains strong. Volume and Market Sentiment: Volume has remained relatively steady with no significant drops, which indicates there is still buying pressure in the market. This confirms that the breakout is supported by market demand and not just speculative moves. Conclusion and Next Steps: The technicals remain solid, and Bitcoin is following the path laid out in my initial analysis. With 71K and 75K as the next critical levels, the target of 80K remains highly achievable. However, while the long-term trend is bullish, traders should continue to monitor key support and resistance zones to confirm the strength of the move. In summary, the chart speaks for itself. The breakout, moving averages, and Fibonacci retracements are all supporting the case for a new ATH. Stay focused on the broader trend and be prepared for the continuation of this bullish cycle. Stay updated for further developments.
Long
by khaledxab
Bitcoin Update: The Last Level Before...Over the weekend Bitcoin INDEX:BTCUSD topped out at a level which has multiple confluences. In this post I will break them down one by one and talk about what happens next... Perhaps the most common level noted by commentators is the Trend Line/Expanding Wedge/Inverted Triangle. I personally do not put much faith in these lines or patterns. The reason I do not is because they are often arbitrary. They can be drawn from any of the different highs and lows to support a person's narrative. As a trader I want clearly defined and objective levels. That being said... everyone draws this line and so it can become a self fulfilling prophesy. The additional levels give it more validity: The elephant on the chart holding down price is (and has for a long time been) the prior All Time High from 2021. This important level has been haunting Bitcoin's much hoped for RIP for years and it continues to do so. Price has hit it again this weekend and stalled. Lastly, the more nuanced but important level is the final Volume Profile zone. Again, price hit and stalled at it this weekend. There are no more true significant levels of prior price and volume between this level and the All Time High. So what happens now? It is quite Boolean by my experience... a Yes/No with high probability. If THIS level (being discussed in this article) is broken then there is a very high probability that price will rocket from 69k to 74k as there are no more levels of resistance within that small range and the momentum should carry it up to the next level with certainty. Then, at the All Time High, price will certainly respond with another hold or a break. There is very good bullish trading of this small range. After the All Time High there will need to be a solid, confirmed breakout. To me this means a Weekly closing candle well above it. At that point... sky is the limit for Bitcoin. Otherwise, price holds here and the long and expanding consolidation continues as well as falls back to the ETF launch level of 43k. This is what I am betting on. Money where my mouth is: I am talking my book. I still remain long term short bitcoin using AMEX:BITI (the inverse ETF). I have been watching these developments closely to determine if my position is still valid. It has been on the cusp of being invalid but still remains my thesis. Sunday night I entered additional futures contracts short at the level. Trade wisely!
INDEX:BTCUSDShort
by norok
46
21/10/24 Weekly outlook (day late)Last weeks high: $69,001.51 Last weeks low: $62,475.70 Midpoint: $65,738.60 Bit of a different weekly outlook this week as I couldn't post yesterday. So with the benefit of hindsight it looks like we have a swing fail pattern in the making after taking the liquidity from the $69,000 ('21 ATH) level. I would say judging by the chart I would want the downside to be capped at the Midpoint, continuing the trend pattern of higher highs and higher lows. The '21 ATH has been the biggest hurdle for BTC over the last 7 months with repetitive rejections, if the lows can keep creeping up then eventually we should get a spring above and that should be the move for an ATH run which should happen soon after if all goes well. Naturally we have ever increasing outside interference with the US election just around the corner, we know this is likely to cause volatility so be careful of that. Prediction markets like Polymarket have Trump as favourite, he is the pro bitcoin candidate so it should be a positive for the space if he were to be elected but you never quite know what will happen until it's confirmed. This week I want to see BTC continuing to make higher lows and higher highs. Altcoins have cooled off a little too after the initial BTC burst up from $60,000 so I'm looking for opportunities there too.
by ProR35
Gold Goes ATH Again, How to Work Pullbacks in Overbought MarketsGold Talking Points The massive move in gold has continued to yet another fresh ATH this morning, even with the US Dollar continue its own bullish jump. Trying to chase an overbought market like gold can feel like trying to jump on a rocket that’s already left the Earth, but that doesn’t mean that traders have the singular choice of fading it or avoiding it. There’s the potential for pullbacks such as I’ve been following in these articles over the past few weeks. Gold continues its massive 2024 outing with yet another fresh all-time-high today. This might sound like Groundhog Day, but the yellow metal just continues to impress even with weekly and monthly charts in overbought territory. As I asked a few weeks ago, does that even matter? Well, by the looks of price it does not, at least not at this point. As for explanations behind the move it’s been the Fed and other global central banks pushing towards rate cuts this year that’s propelled the breakout. And even in light of strong US data that, normally, would cause the FOMC to talk up rate hike potential, a hawkish Fed seems nowhere near, and markets are still leaning heavily on the expectation for the bank to cut through next year. Making matters more interesting is the USD backdrop with which the recent trend has run. The USD was weak in Q3 and gold broke out in mid-August and continued to run. The USD has posed a stark turn-around so far in Q4 and still, gold has run higher. At this point there’s no evidence to suggest that the run is finished. But that still doesn’t mean that chasing and hoping is a smart way to work with the move. There’s essentially two ways of working with the long side of an overbought market. One can use breakout strategies, which can be a challenge in and of itself. This opens the possibility of buying highs or selling lows, which can be painful ordeals. It’s not an impossible way to move forward, but traders need to have rigid risk management protocol to institute these types of strategies. Or – traders can wait and try to be patient, using pullbacks on shorter time frames. This still doesn’t guarantee success but at the least, risk can be managed in a more efficient manner by using prevailing price structure and if-then statements. While the move in gold has continued to hasten, there have been pullback setups. There was a setup leading into CPI last week, and another shorter-term after the release of the data point but before the breakout was able to extend. And then this week, there was a test below 2650, buyers holding the line there with a shorter-term higher-low opened the door for another extension of the move. Yesterday saw bulls push all the way up to the prior ATH at 2685, again, leading to a shallow pullback to the first support listed in the article at 2670. And that has since run into yet another fresh higher-high. Gold Fresh Highs – What’s Next? Human psychology has a funny role in markets as it often seems like the crowd gets most bullish at highs or near resistance and most pessimistic at tests of support. But there’s also the inter-play with psychological levels, as the price of 2600.01 can feel much more expensive than just two cents above 2599.99. We saw that play out at the FOMC rate cut last month. Gold tested above 2600 after news of the cut made its way through markets, but that was brief and short-lived as a fast pullback soon developed. The pullback from that tested below a minor psychological level at 2550, with bulls soon returning to push price back above 2600. At this point, we’ve seen continued reticence inside of 2700 so it seems as though bulls are shying away from a test from that price so far. But, if we do see that trade, that could be an open door for buyers to take profits, which can open the door for the next pullback. In that scenario, the prior ATH at 2685 becomes a point of interest for higher-lows. If that doesn’t hold and profit taking sets in a bit more, 2675 or 2667 become of interest. And technically, we could even see a pullback drive back down to 2650 while keeping the door open for higher-highs and lows on the daily chart. --- written by James Stanley, Senior Strategist
WHSELFINVEST:GOLDLong
by WHSelfInvest
BTC DAILY BREAKING OUT??After 7.5 months of what what amounts to a HTF bullflag pattern, seemingly endless chop, bitcoin looks like it's finally breaking out above and continuing the Bullrun. This post doesn't need to be overly complicated, there are a few key factors on what is happening: - Bullish continuation, a bull flag pattern is just that, after a strong rally the corrective structure looks exactly like how the chart looks before continuing the next stage of the rally. Bitcoin has hit the red zone 9 times before the current breakout move, now that the daily structure has shown repetitive higher highs and higher lows for the first time it's signalled that Bitcoin is ready to continue the move higher. - US elections, every election year since 1928 traditional markets experience a rally, this year is no exception with the $S&P500, SKILLING:US100 & TVC:DJI all at ALL TIME HIGHS. As much as we crypto traders want crypto to be separate from Tradfi, reality is these markets matter and effect Bitcoin directly. '21 ATH has been major resistance all year for bitcoin, I could see that being the target for this breakout (should it be a successful breakout) before a retest of trend channel at $66,500 on the daily. All in all this is an exciting time in crypto, lots of volatility ahead come US election and beyond. Good luck everyone!
by ProR35
Is Amazon stock trapping retail traders? Is it too late?Historically, Amazon tends to experience a run-up leading into Prime Day, which could add positive momentum to the stock. There are some indications that history might, in fact, repeat itself. The yellow line represents the 6-month anchored VWAP, while the white line shows the July highs anchored VWAP. These VWAPs are crucial as they provide a strong indication of where average buying and selling have occurred over significant time frames, acting as dynamic support or resistance levels. I anticipate strong resistance near the August highs, as this is a level where increased supply could enter the market. To counter this, I am hoping for a tight consolidation or base formation in the $183.22 - $187.50 range, setting up for a powerful upside move. If the price can hold within this range, it could pave the way for a retest of the August high and potentially push further up towards $200 by the end of the year.
NASDAQ:AMZNLong
by MysticMads
XAUUSD 6/10/24Gold for this week: We have price action consolidating, followed by a pullback from the area marked last week. This trajectory aligns with the ongoing upward trend, and we expect it to continue, aiming for the previous all-time high. We have already tapped into a demand zone, and liquidity remains at the base of the last low, as well as within the internal lows of the higher time frame range. The principle here is that gold is overall bullish, based on strong fundamentals and a clear trend and structure. We expect this upward movement to continue, with our target set at the previous high. We are not anticipating a major pullback; however, since the market is currently driven by fundamentals, there is always a chance this could happen. If a pullback occurs, we can look for liquidity below the previous low as an opportunity to go higher. If it breaks through, I would expect a longer-term period of selling off, but overall, we anticipate further upward expansions. In summary, keep it simple—follow the clear direction, which is bullish.
OANDA:XAUUSD
by PipSurfingSociety