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Bitcoin-btcusd

What to expect from BTC in the next six months? Global forecastHalf of 2024 is over. During this time, Bitcoin has managed to update its 💥 historical highs. What can we expect from bitcoin and the cryptocurrency market in the future? For six months, there was only one month when the price was actively growing. It was February 2024: In one month, the BTC price rose by 💎43% and began consolidating on the monthly timeframe. In March, the BTC price updated its historical high. This month saw the highest volume trading in 2024. The situation with BTC is most dangerous on the monthly timeframe . For 4 months, bitcoin has been consolidating under the historical high. If we didn't know that it was bitcoin, we would have expected the price to fall by the end of 2024 with a minimum target of $41,000. However, a similar situation with bitcoin occurred exactly a year ago. The BTC price stopped in consolidation starting in March 2023. During the summer, bitcoin did not move anywhere globally, and since September, we have seen a powerful wave of growth: Given the fact that bitcoin has never stopped its growth after updating its historical highs, the likelihood of such a scenario is also high: Great! So how do we make trading decisions? To do this, let's look at smaller timeframes. For example, a weekly one. After a strong upward momentum in the BTC price since September 2023, sellers have reacted rather weakly to the update of the historical high: In our opinion, everything will become clear after the BTC price updates the $56,000 mark. If the decline slows down and the price rebounds actively, we do not expect a deep correction of BTC and will wait for the extension of the BTC term and the update of historical highs by the end of 2024. However, if there is no support in the $55,000 range , this is a signal that 2024 will end with a boring correction with the main target of $42,000. And until the BTC price tests the $55,000 range, we would not make global decisions. However, what will happen to altcoins if, for example, bitcoin goes to $42,000? Here, I would like to show you a chart of BTC's dominance on the monthly timeframe so that you can understand how much things can change: Since October 2023, it has become extremely difficult to update local highs on the BTC dominance chart. And this is not even helped by Bitcoin ETFs. During July-August 2024, bitcoin's influence may drop sharply to 47%. Therefore, even in a negative scenario, when bitcoin falls to the $42,000 range, other cryptocurrencies should not fall as much as they did in June. And now let's look at what chance the cryptocurrency market has of falling back into a protracted crypto winter! Here is a chart of USDT's dominance on the monthly timeframe: In January 2024, the USDT dominance indicator broke through the 2019 USDT dominance uptrend! The worst-case scenario we see now is a retest of the consolidation in which USDT dominance moved from June 2022 to October 2023. However, such a scenario is possible if the current 5.1% range does not keep the pressure off USDT dominance: On the weekly timeframe, we can see that the growth structure of USDT dominance does not look strong. What conclusions can be drawn from this information? 👉By the end of the summer, bitcoin has a good chance of losing its influence on the cryptocurrency market. And it can happen abruptly. 👉In July, it will become clear whether the cryptocurrency market will grow by the end of 2024 or whether 2024 will end on a bearish note. 👉Right now, there is a critical point in the cryptocurrency market from which the market can start a new medium-term growth wave. And it is during this growth that altcoins will feel good. What do you think about the cryptocurrency market by the end of 2024? Write your thoughts in the comments!
by P_S_trade
19
4HR Wave Breaking DownSorry I am traveling so don’t have access to laptop to get better chart, let’s do this from phone This is continuing our last “delusional bulls” idea - finally the 4HR wave broke down - target remain under 55k - that’s deep and sound impossible but this is 3rd time this wave pulled the price down and broke See how the price never stayed above the upper channel for long, strong sign of weakness on upside. Let’s continue to short all the way to 65k and keep stop at 71k - under 65k idea is to hold shorts but refrain for adding new shorts as the swing move can be strong if the idea was to go in trash for some reason
COINBASE:BTCUSDShort
by UnknownUnicorn676689
2
Bitcoin update 29.07.24After several weeks of correction. No one doubts Trump's victory in the next US presidential election, so we see a positive trend in the market. The fact that Trump is positive about cryptocurrencies and his proposal to appoint Larry Fink (head of BlackRock) to the post of US Treasury Secretary, of course, causes a big stir in the sphere, as I wrote in previous posts about RWA Larry Fink () has taken tokenization and this sphere into his hands and if he becomes in this post then, the US license for RWA blockchain will be with a company with people from BlackRock I do not doubt that I will say more if he is not even in an office as Treasury Secretary, the blockchain with US license will still be with a company from BlackRock. About bitcoin. We are now near the upper level and ATH of Bitcoin. With the news of unlocking a large amount of BTC from MTGox, many people started shorting with stop losses above ATH. So stop losses will be liquidated, liquidity will be reached (red box), and soon, we will see a new top. We still have a bull market, and according to my forecasts below, it will continue until September 2025. () The cryptocurrency market is a market of expectations, and the number one expectation is President Trump. Buy-on rumors and sell-on facts are the only things that can be said with certainty, and early November may already be a fact and a minor correction. Although the last time Trump was elected, the market reacted with a strong upward rally. Best regards EXCAVO
Long
by EXCAVO
20
Fear & Greed Index Plummets as BTCUSD Dumps SignificantlyGM Crypto Bro's, this morning BTC dumped significantly, causing the Fear and Greed Index to drop to 26 (fear). The Stoch RSI is still resting in the oversold area. There is a big chance for a drop into the red zone around the 50K area, but there is also a small chance for a pump in the nearest blue zone. As always, keep in mind that the market is dynamic. Don't be FOMO, stay safe, keep calm. Remember, anything can happen in the crypto market these days. Maintain your risk, and that's all for today's crypto update. I'm Akki, one chart, and have a nice day
INDEX:BTCUSD
by x_Akki
Bitcoin: Bearish? Not Yet.Bitcoin has rejected the 68 to 70K resistance area as I anticipated in my previous article. If you read it, you will recall that I explained the level of risk for longs at such a location was high for this time frame. What there was NO way to know was IF it were to sell off, how low would it go? Only the market can answer and that is what we can see NOW. Two major support areas were compromised and the range low near 56K was tested in just a matter of days. The key to NOT getting caught in this buying too early is WAITING for price confirmation around specified levels. IF you are stuck in a long because you bought too early, there are two things you need to accept: markets are MOSTLY random and NO ONE can tell you the future. In this situation, when Bitcoin was flirting with 70K, many "experts" claim it will continue higher, you will miss the break out, etc. And you will notice the same phenomenon now: "experts" will project this move visually, forecasting moves to 50K or lower, etc. If you want to be able to navigate this environment more effectively, STOP consuming low grade information and learn to gather much better information from the market itself. I'm not right all the time, but I can at least assess risk in a consistent way and make better informed decisions simply because I listen to the market ONLY. The current price area offers a better opportunity for LONGS at this time, even though a test of the 56 to 53K support area can occur over the following week (see illustration). The arrow on this chart points to the recent pattern of buying activity and this is a good example of what you want to see again which can be a form of confirmation. Looking for shorts in this situation is best for day traders only because of the squeeze potential. This is where a confirmation tool like the Trade Scanner Pro shines. Without any way to confirm levels, you have no way to gauge the probability of a level breaking or not. Just ask the traders who stepped in front of the 66 to 64K support, and the 60K support. What time frame to look for confirmation on will depend on what type of trade you are looking to take. On this time frame, which is more appropriate for swing trades and investing, a confirmation pattern can take a number of days. You need to know exactly what to look for and understand how to best manage risk by utilizing a position sizing strategy. As you can see on this chart, 56K was quickly rejected, but the candle is still open and the recent momentum is still intact (bearish candles). When I see this, I prefer to wait for more complex reversal patterns like double bottoms or failed lows compared to something like a single pin bar. It is important to ALWAYS consider the market from both sides and then use that information to filter your trade ideas. The general location is attractive for longs, especially on the investing time frame but that does not mean it will reverse back to the highs here. IF the 56 to 53K support breaks, a test of 50K becomes likely. IF that breaks, then the 40Ks can be in play. AGAIN it is ALL about CONFIRMATION. No confirmation, then there is a much lower chance of a significant reversal. Overall, no matter what you read or hear, the fact is the broader Bitcoin trend has not changed, it is still BULLISH. The mid term trend is range bound and price is now flirting with the range LOW. IF if holds over the next week or so this can be a buying opportunity. IF it breaks, the state of the broader trend may be in question and will call for reevaluation. This is NOT a game of being right, it is a game of managing risk in a highly random environment. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
10
$BTC may do something like this in this week#bitcoin #btc price is heading to fill CME CRYPTOCAP:BTC futures gap at ~58K while weekly close is approaching. Oscillators will likely turn "Oversold" less than in a day and market may be dipped in around CME gap price. #Stock markets already turned oversold and local dips happened. Whilst a favorable aspect for financial markets is approaching: Sun will sextile Jupiter, the planet of fortune and wealth, i expect markets to go up all the week from now on (Today is new moon, the pivot day). But, beware. This will likely be a relief rally, a bull trap... It's better to be in low risk assets in second half of August. Avoid high risks. Not financial advice.
by naphyse
BTC/USDT WILL DCA WHALES EXPLODE BTC AFTER 74K TO 100KThank you for reading this update. Bitcoin (BTC) appears to be in a crucial area known as the Dollar-Cost Averaging (DCA) whale protection zone. This zone is significant for maintaining the current trend, as it acts as a security zone for the ongoing DCA cycle, which remains intact. We have been tracking BTC since it reached $53K and are now monitoring it as it approaches the next target of $74K. If BTC can confirm a move to $74K, there is a high likelihood of a major breakout to $100K. We find it essential to stay updated with the volume trends and observe the cycle's progress. At this moment there is no confirmation for a breakdown trend and BTC stays positive and into the cycle. Data shows that high-volume DCA whales are not investigating for just the short term, it's a goal that can take at least 6m+, and this can be tracked depending on the transaction data. * With DCA whales means the known large firms and the unknowns holding wallets.
Long
by SatochiTrader
7
Bitcoin on 2h chart Hello, dear friends! Welcome to my page🫶 Today, let's take a look at the Bitcoin chart on the 2-hour timeframe. There is a fascinating pattern emerging that I'd like to discuss. 🧐 I've drawn long-term support and resistance lines that have been forming since February and March of this year. Today, Bitcoin is attempting to break through a descending trendline. For many, this might seem like a bullish signal, but let's not jump to conclusions just yet. On the 2-hour chart, we can see that the price continues to form a rising wedge, which is typically considered a bearish signal, often resulting in a downward breakout. At this moment, I see the possibility of the price rising into the blue zone, followed by a sharp decline. To provide a clearer picture, I'll also include a more long-term chart so you can better understand my analysis. What are Your thoughts? How are You feeling about the market? Where do You think the price will go next? Share Your insights in the comments, I'm looking forward to hearing from You. Thanks for Your attention💋 Always Yours, Kateryna💙💛
BINANCE:BTCUSDShort
by RocketBomb
46
Bitcoin's Symmetrical Triangle Hi friends, whenever I have a moment of free time, I immediately come to share my thoughts on Bitcoin's price movement with You🩷 Since February 24th, Bitcoin has been forming a technical pattern known as a symmetrical triangle, often seen as a sign of market indecision. This pattern is characterized by the price oscillating between converging support and resistance lines, indicating a balance of buying and selling pressures. Currently, Bitcoin's price is fluctuating within this triangle, gravitating towards the upper resistance line. As the apex of the triangle approaches, the market's uncertainty could culminate in a decisive move. Given the historical behavior of similar patterns, it is plausible that we may witness a sharp price decline soon, potentially reaching levels as low as $60,000 to $58,000. This anticipated move aligns with the technical analysis principles, where symmetrical triangles often precede significant price breakouts or breakdowns. Traders should monitor these key support and resistance levels closely and consider the broader market context and potential external factors that could influence Bitcoin's price action. What do You think? What can we expect after the formation of this triangle? It's certain that there will be a strong movement, but will it go up or down? Thanks for Your attention 🫶 Truly Yours, Kateryna💋
COINBASE:BTCUSDShort
by RocketBomb
20
BITCOIN Ultimate Cross-Cycle Comparison on 1 chart! DON'T MISS!On this special Bitcoin (BTCUSD) analysis, we compare the current Cycle to all past ones by plotting one on top of the other. By classifying each Phase, we can see that all Cycles share some very strong characteristics. More precisely, BTC appears to be currently approaching the end of the Break-out Phase (orange Rectangle). That gives way to the most aggressive part of the Cycle, its Parabolic Rally Phase (green Rectangle). As you can see, this is where all 3 past Cycles took off, the 2018 - 2021 Cycle (black trend-line), the 2014 - 2017 Cycle (blue trend-line) and the 2011 - 2013 Cycle (orange trend-line), the latter of which is stretched in order to fit on the shared bottom of the others. This chart doesn't technically show the Target value of the Cycle's top but rather serves as a useful benchmark to time this peak, in relation to the Tops of the previous 3 Cycles. As you see, this might be towards the end of October 2025, i.e. a full year into the new U.S. Presidency, which is aligned almost perfectly with historic market behavior. So what do you think? Is Bitcoin about to enter a Parabolic Rally phase and if so, could it essentially be a full year of rallying activity ahead of us? 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
6
Bitcoin - it isn't over! Long now for bull run continuation!Hi all. As my followers know, I am building a Bitcoin long position to participate in the final rally into the end of 2024 and 2025 possibly . With terrible sentiment and panic selling happening last 2-3 days, most people don't realize the sentiment on general markets . Facts: - SP500 breaking new ATH and pumping (on chart), - DXY is weak, - 66% chances for rate cut in September, - Mt Gox and German gov selling is a black swan event - and market will absorb this selloff quickly. Any long position between 48k to 60k is safe to ride the next rally to 87k and above. I am planning to hold this long till 110-120k area .
COINBASE:BTCUSDLong
by AdiVV
5
BTCUSDT → short term analysishello guys! I've published the perspective of BINANCE:BTCUSD : now let's dive into a short time frame: Current Price: $69,781 Chart Overview: - Resistance Levels: - Immediate resistance at $73,612. - Next target at $77,604. Trend Analysis: - Bullish Trend: Bitcoin is in a clear uptrend, trading within a widening wedge pattern. - Corrections: Two minor correction areas are identified: 1. Around $70,000. 2. Near $73,000-$73,612. Price Patterns: - Widening Wedge: Indicates increasing volatility with higher highs and higher lows. - Potential Breakout: Price action suggests a bullish breakout toward $73,612 and potentially $77,604 after minor corrections. Key Observations: - Support Levels: The support from the widening wedge pattern is holding strong, providing a solid foundation for further gains. - Minor Corrections: Expected corrections around $70,000 and $73,000 should provide re-entry opportunities for traders. Conclusion: - Bullish Continuation: The overall trend is bullish with a high likelihood of reaching $77,604. - Trading Strategy: Consider buying on dips near $70,000 and $73,000, targeting $73,612 and $77,604. Actionable Insights: - Monitor for corrections around $70,000 and $73,000 for potential buying opportunities. ___________________________ ✓✓✓ 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
30
BITCOIN has entered into early Parabolic Rally levels.Bitcoin (BTCUSD) is about to close the month of July with a strong test-and-hold on its historic Parabolic Growth Channel, which is the zone that has signified its cyclical bottom and the recommended region to buy after a Bear Cycle. This marks the 5th straight month of sideways trading and as this 1M chart shows, this is a behavioral pattern that normally takes place before BTC starts its most aggressive part of the Bull Cycle, the 'Parabolic Rally'. What precedes this is of course the Accumulation Phase within the Parabolic Growth Channel. We are some months past this stage and based on the Time Cycles, the market has just entered the (green) region where the Parabolic Rally can start anytime. Do you expect that to start as early as next month? 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
2
From Monthly to Daily: Bitcoin’s Bullish Surge Above $100KI'm not a "to the Mooner", and when I thought Bitcoin was going down, I said so, even though I knew I'd get some negative comments. I'm not a perma-bear either... In fact, at the beginning of this month, I mentioned that the break under 60k is most probably a false break. I try to stay as objective as possible, trading based on what I see rather than my biases, and right now everything I'm seeing looks extremely bullish I'll break down my analysis from monthly to daily because I believe all signs point to Bitcoin reaching 100k or more by the end of the year. Monthly Chart Analysis: Starting with the monthly chart, although I'm not an Elliott Wave (EW) expert, it's quite clear that from the 15,500 bottom, we have an impulsive EW structure. The first wave reached 31.5K, followed by a correction in the second wave down to 25K. Wave three then surged to 74K, and now we're experiencing the complex correction that typically characterizes wave four. Going further with basic Elliott Wave (EW) theory, Wave 1 shows an approximate 100% increase from 15,500 to 31,500. Wave 3 then surged from 25,000 to 74,000, an approximate 200% increase. After a correction in Wave 4 down to 54,000, we can now project Wave 5 using these percentage movements. Using the percentage increase of Wave 1 (100%) and applying it to the bottom of Wave 4 (54,000): - A 1.0x extension of Wave 1’s percentage increase suggests Wave 5 could rise by approximately 54k (54,000 * 1.0), reaching a target above 100k. - A more bullish scenario, using a 1.618 extension of Wave 1’s percentage increase, suggests Wave 5 could rise by approximately 90,000 (54,000 * 1.6), reaching a target of 144,000. Therefore, considering these percentage movements and the high volatility of Bitcoin, the potential target for Wave 5 could be between 100k and 150k, depending on market conditions and the exact nature of Wave 5. Weekly Chart Analysis: Refining to the weekly chart, we observe a notable upward movement from 25 to 74, followed by a correction that forms a bullish flag pattern. The bottom of this flag pattern aligns around the 38% Fibonacci retracement level, which is typical for flag formations. Additionally, from a price action perspective, the last three weeks exhibit strong bullish tendencies, with the current week presenting a bullish continuation Pin Bar. Applying the measured target for the flag pattern projects a value above 100k. If we were to apply a percentage-based target similar to the wave analysis, it would suggest 150k, but it's prudent to hold off on that projection for now (though this would approximately equate to a 1.6 extension from the monthly wave analysis). Daily Chart Analysis: Zooming in further to the daily chart, we clearly see a false break followed by a reversal back above 60k. The recent correction dropped to a horizontal support level, concluding with a Pin Bar. Adding to this, yesterday's bullish candle completes a strongly bullish Morning Star pattern, indicating a likely imminent break of the resistance level. Overall Perspective and Conclusion: Looking at Bitcoin's behavior from monthly down to daily charts, the outlook remains very positive. The long-term wave analysis suggests significant growth potential. On the weekly chart, the bullish flag pattern points to further gains, and the daily chart's reversal patterns reinforce this bullish sentiment. In summary, Bitcoin is showing strong signs of upward movement across all time frames. While conservative targets point to around 100k, the possibility of reaching 150k isn't off the table if the bullish trends continue. As always, it's wise to watch for key resistance breaks to confirm these bullish projections. Best of luck! Mihai Iacob
COINBASE:BTCUSDLong
by Mihai_Iacob
15