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Bitcoin-btcusd

$BTC price hours before FEDAfter forming Wyckoff's distribution pattern, #bitcoin price lost the trend support and now likely to test the trendline resistance zone (formerly support). There' ll be 2 powerful technical analysis scenario: 1- This dump to 66 - 67K will be remembered just a deviation, CPI and inflation rate will be positive and #btc will reclaim the trendline. So, distribution pattern will be longed or even invalidated later. Reclaiming 69.3K will be very important. 2- #btcusdt will have a bearish retest, price declination will make the distribution pattern fully play out and #btcusdt discover a price deeper low. Not financial advice. DYOR.
by naphyse
Bitcoin is still holding at the daily support levelBitcoin is still holding at the daily support level, indicating strong buying interest and stability at this price point. We expect it to move upwards with a favorable risk-to-reward ratio, suggesting that the potential gains outweigh the risks involved. The key level to watch is the daily resistance at $70,500, which Bitcoin aims to break. ------------------------------------------- This week is a crucial one for Bitcoin. Wednesday: CPI index will be released. Thursday: Federal fund rate announcement. A significant volume of trades is awaiting these decisions. Currently, the price is moving close to the 2020 ATH (All-Time High). If the news is positive, the price could reach the high liquidity zone of $74,000 and potentially $80,000, where a substantial amount of liquidity ($10 billion) has accumulated.
by MonoCoinSignal
Bitcoin 2020 vs 2024Hello, me dear-dear friends! Today, I have prepared a comparison chart of Bitcoin's price formation in 2020 and 2024 for You. We can see a very interesting pattern on the chart! Specifically, after forming a triangle, the price broke upwards and then halted its ascent, starting to accumulate right at the support level. That's an excellent signal, in my opinion.🚀 In the near future, we might see either reduced volatility in the market or a sharp upward surge, depending on market sentiment!🤞 Yesterday's chart is also useful, and I highly recommend You check it out :) Thanks for Your attention and interest in my work🫶 Sincerely Yours, Kateryna
BINANCE:BTCUSDLong
by RocketBomb
4
Bitcoin's Impressive Trajectory and the Road to $100,000Over the past 15 years, Bitcoin has consistently exceeded projections and expectations. In just over a decade, its value has surged from mere pennies per coin to over $50,000 by 2021, capturing global attention. As of June 2024, Bitcoin's price hovers around $70,000, with the next major milestone being the highly anticipated six-figure mark. While reaching $100,000 may seem ambitious, historical trends suggest it's increasingly likely. The pressing question remains: When will Bitcoin surpass the $100,000 threshold? Could it happen in 2024? Any prediction regarding Bitcoin's future is inherently speculative, but such speculation encourages us to evaluate long-term developments in the investment landscape. To forecast Bitcoin's performance, it's crucial to consider trends related to its halving events. A halving is a pre-programmed occurrence approximately every four years that halves the reward for mining new blocks, forming the basis of Bitcoin's monetary policy. This mechanism decreases the rate at which new bitcoins are created over time, contributing to its scarcity and historically driving price appreciation. Bitcoin's most recent halving in April 2024 reduced its inflation rate to just 0.85%. Examining previous halvings reveals that Bitcoin's price typically increases by around 125% in the year of a halving. Starting from a price of $44,000 at the beginning of 2024, a 125% increase would place Bitcoin at $99,000. If this halving has a similar impact as previous ones, Bitcoin should be close to the $100,000 mark in 2024. However, there's another variable to consider that could boost Bitcoin beyond this threshold: the introduction of spot Bitcoin ETFs. Historically, Bitcoin's rise was driven mainly by retail investors. With the advent of spot Bitcoin ETFs, institutional investors can now accumulate Bitcoin without regulatory or custodial concerns. This new vehicle for Bitcoin exposure is already making an impact. In February, ETFs were purchasing Bitcoin at a rate 10 times the daily production rate, pushing its price to a new all-time high. Although the buying rate has cooled, it’s likely just the beginning. If buying resumes at those levels post-halving, ETFs would outpace Bitcoin's daily supply by 20 times. 2024 is shaping up to be the year Bitcoin could reach $100,000. With its price around $70,500 today, this represents a potential 40% gain. However, it’s important to note that Bitcoin often sees its most significant gains in the year following a halving. Historically, Bitcoin has soared by more than 400% on average in the post-halving year. If Bitcoin doesn't reach $100,000 in 2024, 2025 remains a strong possibility. Whether it happens this year or next, ongoing halvings, increasing adoption, and institutional involvement make a compelling case for Bitcoin to continue surprising us for years to come.
COINBASE:BTCUSDLong
by FOREXN1
1
Bitcoin: Back To 64K Again?Bitcoin has rejected the 70k to 72K resistance area AGAIN. This failed breakout may lead to a retest of the 64K to 66K support zone in the coming week. IF 64K is compromised, it will imply that the current minor impulse structure is not valid and reinforces the argument that price is likely to consolidate further. This scenario opens the possibilities of testing 60K and 56K in the coming weeks. The arrow on my chart points to the 64,500 area where waves (i) and (iv) can potentially overlap. This is key to maintaining the impulse structure and short term bullish expectations. IF this area continues to hold, it implies wave (iv) is still in play and a bullish leg higher is within reason. For this reason, the 64K to 66K area is an ideal location to anticipate bullish setups on smaller time frames. The confirmation is the key to capitalizing effectively and this is where my Trade Scanner Pro shines and what I demonstrate during my streams. IF wave (v) follows, the 73K resistance is likely to be tested and favored to break. This level still represents a place reduce risk (take profits) and look for low expectation short setups. A strong break should see price close in the 74K area at LEAST. Keep in mind "probability" means there is still a chance price can fail. A favorable pattern on a chart does NOT guarantee certainty. Knowing your levels in advance and evaluating them within the scope of a relevant trend is a key component to success in this game. Being able to adjust to new information will serve you better than clinging to an opinion, no matter how logical it may be. The collective perception of market participants is what determines the value of an asset or price. This "perceived value" is constantly changing as new information reaches the market. Having an opinion, especially a "logical" one offered by an expert is ineffective because it typically operates under the assumption that nothing material will change. This is why NO ONE was able to forecast the infamous pullback to 15K. Remember that? By utilizing a LESS IS MORE framework, I am able to anticipate short term movements but MORE importantly evaluate them in terms of RISK. If you see my articles written over previous weeks my anticipated scenarios (illustrated on the chart) have been inline with the actual outcome. These forecasts are a result of ONLY 2 components: Relevant TREND, SUPPORT/RESISTANCE level, NOTHING more. I don't aim to be right, I aim to contain RISK. Markets are MOSTLY RANDOM, which means to successfully navigate, the focus should be on what we can control. How you manage risk will shape your entire decision making process, techniques and strategies you choose to employ. By filtering out most information and purely focusing on the limited information that carries any relevance at all I am able to gain an actionable point of reference. From there it is totally up to the market to show its hand. Managing risk is about ADJUSTING to new information while following a set of rules to keep losses and expectations proportional to ones account. Thank you for considering my analysis and perspective.
BITSTAMP:BTCUSD
by MarcPMarkets
9
BTC → breakout the trianglehello guys... as you can see, the price broke the triangle so we can consider btc will reach to FWB:73K area at least! on the other hand, it is sticking between the last trendline and breaking the bottom line of the ascending channel. I think it will be on a compression for a while and then it will start an upward movement! the last analysis: ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
3
Bitcoin: JUNE 7TH, 2024Hello dear traders. Hope you're doing ok. This is my #btc expectation in the short and mid term. Let's get down to the nitty-gritty of the PA. Price MIGHT take out yesterday's low, fill the FVG, and then continue the upward momentum. If not, we'll move towards the clean highs at the top of the range, and the PA will be of significance there. I will definitely exit my long, especially if I see a major push with high volume, and monitor the price. Acceptance back into the range will be a short trigger towards some lows around 68500 and 66K. That will be the ideal scenario to long again towards some dizzying heights. However, if price manages to maintain above the range high, and form structure, I will begin to consider longing. Momentum EMAs have shaped up nicely, and I assume we'll pick up pace soon. If you find the idea useful, please like, share, and subscribe for more updates. Good luck trading!
COINBASE:BTCUSDLong
by Trader_Nebula
BTC Price Analysis: Poised for Increased Volatility and...BTC Price Analysis: Poised for Increased Volatility and Potential Growth Bitcoin (BTC) traded around $70,800 on Wednesday's opening, with insights from Glassnode suggesting that the largest digital asset could be primed for increased volatility if it reaches a new all-time high in the coming days. Insights from Glassnode Key metrics from Glassnode highlight the significant role long-term holders could play in dictating Bitcoin's price action in the near future. According to Glassnode: 1. Unrealized Profits: Most long-term Bitcoin holders are sitting on substantial unrealized profits, suggesting potential for market moves if these holders decide to realize gains. 2. Coin Age Metric: Coins younger than three months old account for 41% of the network's wealth. The coin age metric measures how long a coin has been held in a particular address, indicating liquidity distribution between short-term and long-term holders. The 41% share of <3-month-old coins shows that liquidity held by new demand is beginning to grow, suggesting increased market activity and potential volatility. Technical Analysis Overview From a technical standpoint, BTC remains within a bullish channel, trading above the 50% Fibonacci retracement level and the Volume Weighted Average Price (VWAP). Key technical observations include: 1. Bullish Channel: BTC continues to trade within a bullish channel, indicating an ongoing upward trend. 2. Support Levels: The price is currently retesting yesterday's high resistance level as a support level, signaling potential for further growth. 3. Indicators: Staying above the 50% Fibo and VWAP suggests strong support and potential for continued bullish momentum. Market Strategy Given the current technical setup and the fundamental backdrop provided by Glassnode's insights, our strategy involves looking for long positions in BTC. The bullish channel, strong support levels, and indicators of increasing liquidity held by new demand all point towards potential growth. Bitcoin is positioned for potential increased volatility and growth, supported by both technical and fundamental factors. Insights from Glassnode indicate that long-term holders and growing new demand could play significant roles in BTC's price action. Technically, the bullish channel and strong support levels further reinforce the bullish outlook. As a result, the current market environment presents an opportunity to consider long positions in BTC, anticipating continued upward movement and potential new all-time highs.
COINBASE:BTCUSDLong
by FOREXN1
1
$70,000 continues to be an obstacle for BitcoinYesterday, Bitcoin again tested the resistance near $70,000 but failed. After soaring to $70,258, it quickly dropped below $69,000, where it currently trades. Overall, not much has changed from a technical perspective since our previous update; merely the sideways trend of a lesser degree became more apparent, with Bitcoin struggling at the $70,000 mark. As such, our focus continues to lie at this point, along with the two sloped channels shown below. Illustration 1.01 The daily chart of Bitcoin (BTCUSD) above shows the descending channel, with its upper bound acting as an important resistance for the price. To support a bullish case in the short term, it would be ideal for Bitcoin to close above the resistance level for multiple consecutive days; the resistance’s importance grows with each retest. Illustration 1.02 The image above shows the ascending channel within the larger descending channel; its lower bound acts as a resistance. Illustration 1.03 The illustration above displays an alternative trendline on Bitcoin's (BTCUSD) daily graph, which acts as critical support for the price. Technical conditions Daily time frame = Neutral Weekly time frame = Bullish (losing momentum) Monthly time frame = Bullish Bitcoin addresses Initially, the number of Bitcoin addresses with balances exceeding 1,000 BTC increased slightly after the big slump we described on 29th May 2024. However, while this figure is still above its 28th May 2024 level, it resumed a decline in a new month, which is not a particularly positive sign. The same trend can be observed among the addresses with balances exceeding 100 BTC. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSD
by Tradersweekly
Moon is near 🚀Hello, everyone! 🩷Have we finally made it? Is Bitcoin really about to surpass all previous highs? 🙏We’ll find out very soon, and I think it’s quite possible! Fingers crossed! 🤞 Bitcoin is rapidly gaining momentum, and this is a great signal that we are on the right track! Many of you have seen my chart where I analyzed some price movement algorithms, and we are currently continuing the growth phase. For those who haven’t seen it yet, make sure to check it out by clicking on the post.👇 As for the current situation, what do we see on the chart? The price broke out of the triangle upwards and tested it, indicating an organic movement, followed by further growth. What can we expect next? We anticipate continued growth to levels of 🟢 74,000 - 78,000 in the short term, and in the medium term, 🟢 82,000 - 87,000! If You’re also interested in learning how to trade the triangle pattern, You can find a detailed description in my post below. Learn and trade smart! 👇 Thanks for Your attention🫶 Always sincerely Yours, Kateryna💙💛
BINANCE:BTCUSDLong
by RocketBomb
6
Bitcoin- rise to at least 85kBitcoin's price action has been pretty boring in recent days. In fact, for the past three months, BTC/USD has been stuck in a range. However, as I mentioned in my previous analysis, bulls have held very well above the important 67k support level. At the time of writing, the price is 71k, once more facing the established resistance. A break of this level is expected, and a rise of at least 20% should follow afterward. I remain bullish as long as the price stays above 67k.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
4