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Bitcoin-btcusd

Bitcoin: Push Back To 70Ks?Bitcoin support at the 66K area continues to hold and may be the higher low (wave (iv)) that may lead to a higher high over the coming weeks (see illustration). In order for a dramatic new high like 80K to be tested, price needs to prove itself by clearing 73K first. The key to navigating this is to WAIT for the market to provide evidence (confirmation), NOT get stuck on an opinion about the future. Even though the broader trend is bullish, UNTIL it breaks out, it is within reason to expect the consolidation to continue. Recognizing the support/resistance levels within broader consolidations can help to uncover numerous opportunities, especially on smaller time frames. For example, while I consider the 66K area a minor support on this time frame (see arrow), this location is a great spot to anticipate longs on day trade time frames like the 1 or 5 minute chart. When using such levels as a form of context to guide decisions, traders often do not understand how to shape expectations relative to the magnitude of the time frame. For instance, price movements on a 1 minute chart are typically smaller than a 5 minute or 1 hour chart. Knowing this should shape expectations in terms of reward/risk. This is one of the problems I aimed to solve when coming up with the idea for Trade Scanner Pro by automating the exit points using the average true range (ATR). The same can be said about the 70K whole number resistance area. This is an ideal location to WAIT for sell signals, whether to take profit or an aggressive counter trend trade short. Again the location provides a point of reference where we can anticipate a particular price behavior or opportunity. It is up to the MARKET to confirm and even then, there is a chance it can get stopped out (markets are mostly RANDOM). My analysis is meant to shed light on a select range of possibilities over the coming week for day and swing traders. I have to remind people of this because many come to these articles expecting to gain knowledge of the future. It will take some time to realize effective risk management has NOTHING to do with where price will be in the future. There is no way to forecast the future accurately, ESPECIALLY using the limited information that is available on charts. The idea is to help you prepare for potential opportunities that I believe have a greater probability of a positive outcome because of the price location relative to the trend. The MARKET decides what scenario will play out, not me or anyone else. To align with the market, we must have a passive mindset, good listening skills and the ability to admit being wrong QUICKLY, especially on smaller time frames. So here is how to prepare of the coming week: IF the low 66Ks are tested, look for longs, IF 66K breaks, avoid longs and reevaluate new levels. IF 70K is tested, look to take profits, or consider aggressive shorts (counter trend). IF 70K is cleared, watch for test of 73K. How you navigate your positions is a function of your risk tolerance and personal style. Most importantly, let the market do the THINKING, you simply adjust to the new information as it appears. Thank you for your considering my analysis and perspective.
BITSTAMP:BTCUSD
by MarcPMarkets
9
Bitcoin Marketcap v Federal reserve M1A nod to @unbeldi And a updated chart Swapping the Bitcoin price to marketcap over the M1 money As BTC is a Trillion dollar asset again and was invented to be peer to peer cash It's good to compare the ratio vs the dollar. And imagine one day in the future that it may dethrone the King. Since BTC is natively digital and global (M2 is slightly larger number and the more commonly used metric @ 20.86 Trillion) The number of coins I used for the 100k & 400k price projections was 19,791,006 If you wanted to check my maths This is the current and supply and the estimate of number of coins in 10 months time.
CRYPTOCAP:BTCLong
by BallaJi
1
BITCOIN Inverse Head and Shoulders targeting $79500Bitcoin (BTCUSD) is technically about to complete the Right Shoulder of the Inverse Head and Shoulders pattern (IH&S) that followed the All Time High (ATH) of March 14. The driving vessel behind it is a (dotted) Channel Up whose Bullish Leg peaked at +19.50% and its two Bearish Legs so far have been around -8.00%. As you may realize, there is a high degree of structural symmetry on these patterns as even the IH&S has distinct Support and Resistance Zones, with Sour interest currently being on Support Zone 1, which has already held twice since May 23. As a result, as long as it holds along with the 1D MA50 (blue trend-line), the trend remains bullish and the IH&S technical dynamics target the 2.0 Fibonacci extension at $89000. However we keep at the moment a shorter term perspective and before 89k, we will aim at $79500, which would be a +19.50% rise, similar to the Channel's previous Bullish Leg. 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
BTCUSD: Entering the parabolic phase.Bitcoin is on excellent bullish levels on the 1D technical outlook (RSI = 66.472, MACD = 251.100, ADX = 42.204). Following the correction of the last two months, the market has entered the green zone of the Cycle, which is its parabolic phase. This historic chart on the 1W timeframe shows that this phase lasts around 560 days while the previous blue one, which extends from the bottom of the Cycle, lasts around 500 days. This is a clear indication that at least for a year, Bitcoin will most likely rise parabolically with a possible target zone of 200,000 - 300,000. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
Bitcoin: The Halving Effect, A Catalyst for Price AppreciationCryptocurrencies are undeniably enticing but come with significant risks. While the blockchain technology behind these digital assets is revolutionary and has the potential to reshape the financial sector, their future role remains uncertain and somewhat unclear. However, there is one cryptocurrency that stands out for providing investors with the safest exposure to the potential of the cryptocurrency market: Bitcoin. Here’s why it makes sense to invest heavily in Bitcoin. The Halving Effect: A Catalyst for Price Appreciation On April 19, Bitcoin experienced its fourth halving event. These halvings occur approximately every four years and are a crucial part of Bitcoin's monetary policy, which focuses on preserving scarcity by reducing its inflation rate by half. With the most recent halving, Bitcoin's inflation rate has dropped to just 0.85%, making it less inflationary than gold, which is often considered the ultimate store of value and inflation hedge. In the long term, the continued reduction in Bitcoin's inflation rate is likely to positively impact its price. As demand for Bitcoin grows, the decreasing inflation rate will increase pressure on its limited supply of 21 million coins, creating a strong potential for price appreciation. Even in the short term, the halving effect makes Bitcoin a compelling investment. Historically, in the years when a halving occurs, Bitcoin's price has increased by an average of 125%. From the beginning of the year, this would suggest a potential price of over $100,000, offering significant return prospects even with the current price around $65,000. Moreover, Bitcoin's best performance typically occurs in the year following a halving, with historical increases exceeding 400%. Significant Institutional Interest and Clear Role in the Financial Landscape Bitcoin's ascent has primarily been driven by retail investors for much of its existence. However, this dynamic is poised for a significant shift. The approval of spot Bitcoin ETFs has opened the door for institutional investors with vast capital reserves to invest in the cryptocurrency easily. The influx of Wall Street's major players will likely exert unprecedented pressure on Bitcoin's finite supply, reminiscent of its early days. Moreover, the approval of a spot Bitcoin ETF signifies the market's current perception of Bitcoin and its role in the financial landscape. For instance, Ethereum (ETH), the second most valuable cryptocurrency, is embroiled in a debate over ETF approval as regulators decide whether it is a security or a commodity. This regulatory scrutiny extends to all cryptocurrencies, raising questions about their classification. It is important to note that the Securities and Exchange Commission (SEC) labeling a cryptocurrency as a security does not spell the end for that blockchain. Most of these assets are highly decentralized and would continue to operate even if the SEC pursued litigation. Cryptocurrencies are traded globally and are not confined to any single country's laws. However, legislative risks are a concern for markets. This is where Bitcoin stands out as a safer investment. The SEC has already classified Bitcoin as a commodity, placing it beyond the agency's regulatory control. This classification provides Bitcoin with unique staying power and a layer of protection against regulatory scrutiny. In a Class of Its Own Bitcoin's core characteristics have attracted substantial institutional interest and defined its clear role in the financial landscape, setting it apart from other cryptocurrencies. Investing in Bitcoin means investing in the most decentralized, secure, and proven cryptocurrency available. It operates without a central authority, and its creator, known only by the pseudonym Satoshi Nakamoto, has remained anonymous and absent. No other cryptocurrency can match this level of decentralization and lack of a central governing body. Most other cryptocurrencies have identifiable creators and development teams, making them more susceptible to SEC scrutiny. Bitcoin, in contrast, has maintained its original form for the past 15 years without any central figure or authority. Even if the SEC wanted to take action against Bitcoin, it would be challenging due to its decentralized nature and unknown creator. A Solid Investment Opportunity Bitcoin remains a solid investment option. While there may be optimal times to invest, such as during a crypto winter, historical data suggests that long-term holding typically yields substantial returns, even for those who buy at peak prices. As fiat currencies face inflation, institutional interest in Bitcoin grows, and halving events continue, Bitcoin is likely to keep exceeding expectations. Michael Saylor, a prominent Bitcoin investor and CEO of MicroStrategy, which owns about 1% of the total Bitcoin supply, aptly summarized this sentiment: "I'll be buying at the top forever."
COINBASE:BTCUSDLong
by FOREXN1
1
BITCOIN There is no turning back from this.Bitcoin (BTCUSD) has started the 5th Bullish Wave of the current Bull Cycle, following the consolidation of the past 2 months. Since the November 2022 bottom we have had 4 such waves with consolidations ranging from 1 month to 6 months (blue Channel of April 10 - October 10 2023). The current wave can technically take Bitcoin up to $100k alone. What is even more bullish than that though is the fact that the whole (ellipse) structure since the October 2023 Low, resembles the sequences of April 2020 - March 2021 and May - December 2017. As you can see, both were Bullish Legs of the 7-year Channel Up. Symmetrically, it appears that we are past its 2nd consolidation (blue circle) and starting the final rally to the Top of the Channel Up. That means that the Cycle Top can even be marginally higher than $200k until the 1W MA50 (blue trend-line) is breached again (note that we are past a 1W Bullish Cross also) which can make us start considering a Bull Cycle again. But what do you think? Is this rise just the start of a wave that will take BTC to 100000 even 200000 if history repeats itself? 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