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BTC updateBTC latest analysis update: This complex scenario will make both bull and bear suffer if they don't play it out phase by phase. I tried to keep it as simple as much possible, once you see the chart you will understand. Invalidation point: If it close 1day above 63k Imagine what people will post once BTC break 48k support! they will call 38k and 42k, it will be fake wick breaking support then head towards 70k zone then final low to 38k not before. But I might be wrong because again this is a complex structure. However, thinking as market maker this will be the perfect scenario to hit both bull and bear. What you guys think?
by Nxgencrypto
1
You might be too optimistic about #BTC!Investors are hopeful that risk assets like Bitcoin could see strong gains if the Federal Reserve cuts interest rates by 50 basis points instead of the previously anticipated 25 basis points. However, Bank of America (BofA) urges caution. They recommend not overreacting to any initial market reaction after the Federal Reserve's September meeting. According to BofA, the real focus should be on the Fed’s dot plot, which could have a bigger impact than the actual rate cut. BofA expects the Fed’s dot plot to show higher interest rate expectations than what the market is currently predicting. Despite this, they believe Fed Chair Jerome Powell will maintain a more cautious, or "dovish," tone in his comments. What is the dot plot? The dot plot is a chart that shows where each Federal Reserve member thinks interest rates will be in the coming years. Each dot represents one member’s view. It's a useful guide for understanding where the Fed members sees interest rates in the future.
BLACKBULL:BTCUSD
by BlackBull_Markets
Bitcoin 9/15/241. Price Movement: The price is currently trading at $59,792.97, with the chart showing recent bullish momentum from early September. The price seems to be facing some resistance around the $60,000 mark, as indicated by the wicks of the recent candlesticks. There's an overall trend of higher lows and higher highs, indicating a bullish trend. 2. Key Resistance Levels: Immediate resistance is around the psychological level of $60,000, which is just above the current price. Breaking and sustaining above this level could lead to a further rally toward $62,000 or more. If rejected at $60,000, we could see a pullback to previous support levels. 3. Support Levels: Key support can be seen around $49,500, as indicated on the right axis of the chart. This is likely the first major level that could catch any downward movement. Another support level around $52,000 is evident from the mid-range of the chart and might serve as a minor support in case of a retracement. 4. Moving Averages: The blue line on the chart likely represents a long-term moving average (200-day MA), indicating that the price is above this level, further supporting the overall bullish trend. The red line could be a shorter-term moving average, possibly the 50-day MA or an Exponential Moving Average (EMA). If the price stays above both these averages, it confirms bullish momentum. 5. Ichimoku Cloud: The cloud (Kumo) in green is below the price, suggesting that the overall trend is bullish. The fact that the price has broken above the cloud is a sign of further upward potential. If the price remains above the cloud and the Tenkan-Sen (red line) and Kijun-Sen (blue line) cross positively, this confirms an ongoing uptrend. 6. RSI (Relative Strength Index): The lower indicator appears to be an RSI, hovering around the midline (likely between 40 and 60). This suggests that the asset is not currently overbought or oversold, providing room for further upward movement. If the RSI pushes above 70, it would suggest overbought conditions, which could lead to a short-term correction. 7. MACD (if applicable): Though not directly visible in the image, the trend of the price action and the consistent upward movement suggests bullish divergence, with MACD (if applied) likely to show positive momentum. Next 24 Hours: Bullish Scenario: If Bitcoin breaks and holds above the $60,000 resistance, it could rally toward $62,000 in the next 24 hours. Momentum indicators like RSI still show room for growth, and the Ichimoku Cloud provides support below. Bearish Scenario: If Bitcoin gets rejected at $60,000, it may pull back to test support around $55,000 to $52,000. In conclusion, Bitcoin is in a bullish trend, but the resistance at $60,000 will be critical in determining whether the price continues upward or experiences a short-term pullback.
INDEX:BTCUSD
by ILL_Midas
Bitcoin: Bullish Back To 64K?Bitcoin has rallied off the 53K support area as anticipated (read my previous article). I even explained my dollar cost averaging strategy particularly for this situation in my previous stream. If 60K is cleared, the next resistance is 64K. The current momentum is now bullish which can be confirmed by the higher low pin bar over the previous week (see arrow). Since higher lows often lead to higher highs, a break of 60K and test of 64K is within reason for the coming week. How you go about using this information all depends on what type of risk you are willing to take. As I demonstrate each week, the time frame you choose is a function of market risk. Smaller time frame strategies like day trades will be associated with much smaller risk (tighter stop) compared to larger time frames like swing and/or position trades. Since the scope of my analysis here is the swing trade time frame, I will explain how best to utilize this information respectively. With the bullish structure as a reference, and bearish inside bar present (previous candle) a minor retrace is likely to follow into a test of support (55 to 56K area) before the next leg higher commences (see illustration). The retrace is NOT guaranteed, but would present an ideal setup IF the scenario were to unfold over the next few days. Price can also just take out the inside bar high (continuation pattern) which can also justify a swing trade position (higher risk). Either way, probability favors a test of 64K UNLESS the low of the higher low structure is cleared. This means support levels are more likely to present reversal opportunities (especially on smaller time frames) while resistances are more likely to be broken. Keep in mind this is NOT about "knowing the future", it is about selecting a likely scenario from a range of scenarios and then adjusting to whichever path the MARKET chooses. If the inside bar high is broken instead, risk can be defined by the current candle low upon the close of the candle. Profit potential can be measure by the 64K area which means 4K points is within reason. Ideally risk should be less than half this amount, but no more than the amount of the profit objective (1:1 reward/risk). Can 64K be cleared as well? Anything is possible, but it is better to keep expectations within reason and ADJUST if price decides to go further. The mistake to avoid is the hype that comes along with a move. "Why" does not matter because by the time you learn "why" a move is occurring, the reason is no longer the catalyst behind the move. Focus on the price structure and the support/resistance levels and you will be ahead of most of the retail trader/investor population. If you are unable to judge the quality of information that you consume, then you will most likely become a profit opportunity for someone who can. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
17
BTC Hits 60K – What’s Next?GM crypto bro's, happy weekend! BTC has finally pumped to the 60K area as mentioned in yesterday's market update. This morning, the Fear and Greed Index is in the neutral zone at 50, while the Stochastic RSI remains overbought. Typically, after a pump, BTC may retest the 59K - 58K area. However, if it continues its pump, the next target is 61K - 62K. BTC often corrects when the Fear and Greed Index enters the greed zone, so a correction might follow after reaching 61K - 62K, possibly back to 59K - 58K. The market is dynamic; don't be FOMO. Stay safe, keep calm, and remember anything can happen in the crypto market. Always manage your risk. That’s all for today’s crypto update—this is Akki signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
BITCOIN Will the negative correlation with DXY make it rally?Exactly a year ago (September 25 2023, see chart below) we published a comparative analysis of Bitcoin (BTCUSD) against the U.S. Dollar Index (DXY): ** Negative correlation and the Fed next week ** We argued of the natural negative correlation the two have and BTC rose immediately to its impressive October 2023 - March 2024 rally, just when DXY got rejected at the top of its Megaphone pattern. We believe that, only a few days before the Fed cuts the Interest Rates next Wednesday for the first time in years, it is useful to update this chart. ** Not just about the DXY ** As mentioned, this correlation shows principally the negative nature between the two financial assets but there are other parameters involved also. You can see that from late January 2024 to mid-March 2024, DXY started rising but BTC didn't decline, instead it posted an insane rally, which was solely attributed to the launch of the Bitcoin ETFs. As this move cooled down, the market started correcting the rally's mania and even though the DXY started a strong decline in late June, BTC didn't raise but instead entered a 50k - 70k range because of the strong correction on the stock market. ** So what's next? ** So the obvious question that arises, is 'what's coming next for Bitcoin'? Well as you realized, that can be answered only in relation to the stock market and DXY moves. BTC is sitting currently on its 1W MA50 (blue trend-line), while the DXY on its 1W MA200 (orange trend-line). Technically, if the DXY rebounds on its 1W MA200, Bitcoin should decline and vice versa if DXY breaks its 1W MA200 (would be the first time since January 10 2022), Bitcoin should rally. However that also depends on what the stocks do. As a result, we believe that if the stock market rises, BTC will follow it upwards, regardless of what the DXY does (unless it accelerates so fast upwards that will break above the 107.370 Resistance). If the DXY rebounds while stocks rise, there should be a BTC rally but just a moderate one. If DXY breaks below its 1W MA200 while stocks recover, we expect the rally to be much higher than most anticipate. On the other hand, a further decline on stocks combined with a DXY rebound, would translate into an aggressive sell-off on Bitcoin. If however stocks keep falling while the DXY makes the historic break below its 1W MA200, we expect the July - September consolidation on Bitcoin to be extended, so the trend should be sideways until one of those parameters/ condition changes. Which scenario do you think is more likely to take place? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
8
Potential Correction Ahead?GM crypto bro's, this morning the Fear and Greed Index is at 32 in the fear zone, and the Stochastic RSI is in the overbought area. A slight correction may be coming soon, and BTC might not reach 61K, likely staying within the 59K - 60K range as we head into the weekend. However, there's still a chance for BTC to break 62K. The market is dynamic; don't be FOMO, stay safe, keep calm. Anything can happen! Always manage your risk. That's all for today’s crypto update, this is Akki signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
AVAXUSDT Divergence at ResistanceAVAXUSDT is currently trending downward, creating lower highs as it nears a crucial support level. After a pullback toward the resistance zone, the market struggled to sustain upward momentum, resulting in a divergence pattern. The price has since dropped below the significant 24.00 level and broken through an upward trendline, marked by the appearance of a long-tailed bar, signalling strong selling pressure. Given that the recent bullish move was a correction against the dominant bearish trend, it is likely that the market will continue its decline toward the support level. The development of a triangle pattern suggests consolidation, often a precursor to continued sideways movement. The target is the support level around 22.60
Short
by RTED_Investing
Correction Met, What’s Next?GM crypto bro's, the correction I mentioned yesterday has been hit. This morning, the Fear and Greed Index remains in the fear zone at 31, while the Stochastic RSI is now in the overbought area. Today’s market outlook is similar to yesterday: potential pump to 59K - 61K. A drop is still possible. Remember, the market is dynamic; don't be FOMO, stay safe, keep calm. Anything can happen! Always manage your risk. That's all for today’s crypto update, this is Akki signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
BITCOIN It's all about the global liquidity every single time!As the Fed prepares for the first rate cut next week since it begun the cycle of hikes in February 2022, it would be very eye-opening to observe the global monetary supply and what more money in circulation could mean for Bitcoin (BTCUSD). The light green and red candles (top) illustrate the Global Liquidity Index (GLI) comprising of the FED, TGA, RRP, ECB, PBC, BOJ, BOE and other Central Banks. It tracks and measures exactly what it says, the liquidity/ monetary supply/ money in circulation around world economies. When central banks cut rates, they essentially print more money, flooding the system with cash that devalues the currency already in circulation. When that happens, it is easier for corporations and/or individuals to access more money through loans etc, thus increasing their spending/ buying/ investing capacity. Principally, this means that it is easier for investors to buy riskier assets, which lead to value increases. In that category fall stocks and cryptocurrency. As this chart shows, it is no surprise that every time the GLI starts rising, Bitcoin (candles at the bottom) rallies. More specifically, when Liquidity drops and flattens, it creates BTC's Bear Cycle and when it breaks above its Resistance, BTC starts the rally phase of its Bull Cycle. This time, having experienced the dramatic FED rate hikes that brought us back to pre 2008 Housing Crisis levels, the GLI experienced a stronger drop and instead of flattening, it created a Wedge with Lower Highs as its Resistance. GLI is now exactly on this Lower Highs trend-line and if broken, we might have a break-out similar to the Resistance break-outs of the previous Cycles, thus initiating the Parabolic Rally on Bitcoin. Do you think that will be the case? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
20
Potential Correction or Further Pump?GM crypto bro's, this morning the Fear and Greed Index remains in the fear zone at 37, and the Stochastic RSI is moving into the overbought area. Today's BTC outlook is quite similar to yesterday's update, with a potential correction around the 55K area or possibly a continuation of the pump to the 60K - 61K range. But remember, this is just my personal analysis — only probabilities. As always, maintain your risk! That’s it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
BTC USD UpdateWe got liquidity taken, so I'm scalping short and about to take the first profit. Daily closed bullish, so I'm still not sure about this range. If we see 55987.70, 4h - Neg OB flips bullish, I will be out of my short and looking for a new plan. It could easily go higher or lower. We are in scalping territory, so be careful. Sniper entries for us only on very small timeframes and quick profits. Let's see what London and New York will do to us today. I'll keep ideas flowing here.
COINBASE:BTCUSDShort
by themarketknight
BTC Breaks 55K, What's Next?GM crypto bro's, BTC finally pumps and breaks above 55K! This morning, the Fear and Greed Index is at 33 (Fear), and the Stochastic RSI has managed to exit the oversold area. Where will BTC go next? Based on today's price action, after this pump, a slight correction might occur around the 55K area. If the pump continues, the next target could be in the 60K - 61K range, or it might just reach 59K. Stay alert, as sudden dumps can still happen in the crypto market. As always, maintain your risk! That's it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki