ETF BTC APROVAL LONG 46000 "Decentralized Finance (DeFi) Disruption: Unleashing the Power of Financial Inclusion"
Introduction:
In recent years, the rise of decentralized finance (DeFi) has been nothing short of revolutionary in the world of cryptocurrencies. This bullish idea explores the potential of DeFi as a game-changer in the financial industry, bringing about increased financial inclusion, accessibility, and empowerment.
Bitcoin (Cryptocurrency)
SELL SPX FROM 4100 OR 4000 AND TP ON 3800 AND WAIT Patience !! Time to Sell or Wait to 4100 anyways Going back to 3800 TP and wait for second confirmation Going back to 3200 !!!
stay Profitable
do not add to losers
add to winners
do not over leverage
do not open many positions
only trade what you know
dot get sentimental with trades . close it if did not work !!!
HAVE A GOOD WEEKEND !!!
SEE YOU GUYS ON PROFIT FRIDAYS !!!
BTC DECEMBER FOMC Going into FOMC the consensus is we'll see a 25bps cut from the FED (95% chance), this would take interest rates from 4.75% to 4.5%. Because the expectation of a cut is so certain, we can assume that the markets have priced this in so baring any craziness in the form of a different result we should see market sentiment remain the same, bullish.
A FED pause,(although unlikely according to data) would be very bearish in the the short term in terms of volatility. I would expect to see price revisit the $98-99K mark where the 4H 200EMA would roughly be. In a bullmarket the 4H 200EMA can be used as a great support level often bouncing off of it.
For a 25bps cut which is the expected outcome, we have two paths IMO. The bullish path is consolidation under the ATH then a break above, retest and off we go towards $110,000. The bearish path is a loss of this key S/R level after a consolidation above support and break under with a confirmed retest of new resistance. I know it's typical "could go up, could go down", however it's the context that matters here.
Alts have taken a back seat for the last week or so, BTC.D at a key level and a rejection off this level would mean alts can play catch-up while as BTC consolidates. We very rarely see BTC drop and altcoins pump so this is the most likely outcome to me baring no upsets in FOMC.
BITCOIN (BTCUSD): Bullish Move From Support Confirmed
Looks like Bitcoin is going to pullback from a key intraday/daily horizontal support.
As a confirmation, I spotted a tine cup & handle pattern on an hourly.
The price will go up and reach at least 105291 level soon.
❤️Please, support my work with like, thank you!❤️
#BTCUSDT #4h (Bitget Futures) Rising wedge on resistanceBitcoin uptrend looks exhausted and keeps getting rejected on overbought RSI zone, a retracement down to 100EMA support seems around the corner.
⚡️⚡️ #BTC/USDT ⚡️⚡️
Exchanges: Bitget Futures
Signal Type: Regular (Short)
Leverage: Isolated (15.0X)
Amount: 5.0%
Current Price:
106966.8
Entry Zone:
107142.0 - 108740.0
Take-Profit Targets:
1) 104521.8
1) 101946.7
1) 99371.7
Stop Targets:
1) 110802.2
Published By: @Zblaba
CRYPTOCAP:BTC BITGET:BTCUSDT.P #4h #Bitcoin bitcoin.org
Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0
Expected Profit= +47.5% | +83.3% | +119.1%
Possible Loss= -39.8%
Estimated Gaintime= 1-2 weeks
BITCOIN Next top is going to surprise you but it SHOULDN'T !!Bitcoin (BTCUSD) broke yet another benchmark, the psychological level of $100k. The market cap is growing and many claim that it can't keep rising as the capitalization would be at unrealistic levels. For one capital inflows seem to be very comfortable right now with BTC investments and there are still billions waiting at the side for the right investment in 2025.
Fundamentals aside, Bitcoin's historic patterns and price action gives us even more reasons to expect (much) higher prices and a Cycle Top that could surprise many.
** Fibonacci Channel Up **
First of all, we've plotted a Channel Up starting from BTC's first Bear Cycle and displayed the Fibonacci retracement levels on it. As you can see, those fit perfectly and catch each Cycle's tops and bottoms very accurately:
1) June 2011 Top on the 0.618 Fib. November 2011 Bottom on the 0.0 Fib.
2) December 2013 Top on the 1.0 Fib. August 17 2015 Bottom on the 0.382 Fib.
3) December 2017 Top on the 1.0 Fib. December 2018 bottom on the 0.5 Fib.
4) April 2021 Top on the 0.786 Fib. November 2022 bottom on the 0.236 Fib.
** Pi Cycle and MM Bands **
Then we have applied the Pi Cycle trend-lines 1 (orange) and 2 (green), which are key trend Resistance and Support levels respectively, combined with the MMB SD3 above (red trend-line) and MMB SD3 below (black trend-line), which are also historically almost the absolute Resistance and Support levels respectively. In the middle of all these is the 1W MA50 (blue trend-line), which during the Parabolic Rally phases (like the one we are currently on), is Bitcoin's main upward force.
** Covering at least 4 Fib ranges **
As you can see, all Cycles broke above at least the Pi Cycle trend-line 1 (orange) before making a Top. The first two Cycles even hit the MMB SD3 above (red). Also each Cycle has a proportional Fibonacci Channel level range, covering at least 4 Fib bands (as described above). Cycle 1 covered Fibs 0.618, 0.5, 0.382, 0.236 and 0.0. Cycle 2 covered Fibs 1.0, 0.786, 0.618, 0.5, 0.382. Cycle 3 also covered Fibs 1.0, 0.786, 0.618, 0.5, 0.382. Cycle 4 covered Fibs 0.786, 0.618, 0.5, 0.382, 0.236.
** Surprise Top **
The MMB SD3 above (red trend-line) is now below Fib 0.618 and it is less likely for BTC to hit it since Cycle 3 didn't. As a result, it is possible that the next Top will be on Fib 0.5 at best (maximum). If that is succeeded towards the end of 2025, and assuming that the Pi Cycle trend-line 1 (orange) breaks by then as it always has on every previous Cycle, that gives us a target range for the next Cycle Top within $250k - $350k!
Do you still think that's unrealistic? 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. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
HelenP. I After reaching new ATH, Bitcoin can make correctionHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price declined to the trend line and then rebounded and started to grow. Later, BTC reached a support level, which coincided with the support zone, and then some time traded in this area. Then the price broke the 90400 level, made a retest, and continued to grow, but when it reached 99300 points, after which made a correction. But soon, the price turned around and continued to grow to support 1, which coincided with the resistance zone. When BTC reached this level, it turned around and in a short time declined to the trend line. After this movement, BTC rebounded and made impulse up to support 1, thereby soon breaking it. Currently, the price trades inside the resistance zone, so, I expect BTCUSDT will rise a little higher this area. Then, the price can turn around and start to decline to the trend line. For this case, I set my goal at 100700 points, which coincided with this line. If you like my analytics you may support me with your like/comment ❤️
Bitcoin's status on hourly timeframes (4H)Bitcoin is in an ascending channel on the hourly timeframes. It had reached the top of the channel, reacted, and has now dropped.
There is a support zone that could push the price back up to the previous high.
Closing a 4-hour candle below the invalidation level will invalidate this move and lead to further drops.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Did you Know ?!!!Did you really think that profiting from the current bull run (a comprehensive upward market) would be easy? Don't be naive. Do you think they will let you buy, hold, and sell at low levels without any struggle? If it were that simple, everyone would be rich. But the truth is: 90% of you will lose. Why? Because the crypto market is not designed for everyone to win. They will shake you. They will make you doubt everything. They will panic you and sell at the worst possible moment. Do you know what happens next? The best players in this game buy when there is fear, not sell; because your panic gives them cheap assets. This is how the game goes: strong hands feed off weak hands. They exaggerate every dip, every correction, every sale. They make it look like the end of the world so that you abandon everything, and when the market starts up again, you'll sit there saying, "What the heck just happened?" This is not an accident. It's a system. The market rewards patience and punishes weak emotions. The big players already know your thoughts. They know exactly when and how to stir fear to make you give up. Because when you panic, they profit. They don't play the market. They play you. That's why most people never succeed. Because they fall into the same traps over and over again. People don't realize that dips, FUD (fear, uncertainty, doubt), and panic are all part of the plan. But the winners? They digest the noise. They know that fear is temporary, but smart decisions last forever. We've seen this hundreds of times. They pump the market after you sell. They take your assets, hold them, and sell them to you at the top, leaving you with nothing, wondering how it happened. Don't play their game. Play your own.
Bitcoin Outlook after the Dip. What to expect NOW?if Bitcoin cannot hold the $130,000 range, the price could drop to around $100,000 or even lower. After that, it can continue its growth again.
Give me some energy !!
✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us.
Best regards CobraVanguard.💚
_ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟!
⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Bitcoin can correct and then continue to move up to new ATHHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see how the price trades inside the range, where it reaches the top part and then starts to fall. In a short time, BTC fell almost to the bottom but then turned around and made an impulse up, exiting from range and continuing to grow inside an upward wedge. In this pattern, the price soon reached the 90500 support level, which coincided with the buyer zone, and then broke it, made a retest, and continued to move up. Later BTC reached the resistance line of the wedge and then corrected the support level, after which it rebounded at once and then rose to the current support level. Price tried to break, but failed and dropped to the 90500 level, after which at once continued to move up and soon reached the current support level, which coincided with the seller zone. Then the price broke the 103000 level and rose to the resistance line of a wedge, but a not long time ago it declined to the seller zone, where BTC continues to trades to this day. So, in my mind, the price can decline to the support line and then start to grow to the resistance line of an upward wedge. That's why I set my TP at 110000 points (new ATH), which coincided with the resistance line. Please share this idea with your friends and click Boost 🚀
Bitcoin Tests Key Support: Eyes on $103KBitcoin is technically bullish in the 4-Hour chart. However, it gave up bullish move from the last days and is now testing the key support zone near $103,033.
1. A pullback to retest the $103,032 with a dip below it, followed by a strong rebound above this level will push Bitcoin price towards $108,550 (dashed green projection).
2. A decisive move towards $108,550 and breakout with confidence could pave the way for further upward momentum towards $113,692(solid green projection).
3. If Bitcoin fails to hold above $103,032 and breaks below this level without a swift recovery, it could indicate a loss of bullish strength and Bitcoin chart will turn to neutral. This may trigger increased bearish activity, leading to sideways movement or a potential decline toward the $99,108 support level (red projections).
Will Santa Bring Bitcoin? Tracking Crypto Trends Each DecemberAs the festive season draws near, Bitcoin traders often wonder: is December a gift-giving month for the OG crypto or one where Santa skips the BTC chimney altogether?
Over the past decade, Bitcoin’s December performance has varied wildly — from record-setting rallies to stomach-churning corrections.
But this year, the festive cheer in the crypto world is particularly jolly.
Bitcoin BTCUSD has smashed through the $100,000 mark , Ethereum ETHUSD is dancing above $4,000 , and the markets are buzzing with speculation about lower interest rates from the Federal Reserve and crypto-friendly policies from Donald Trump’s White House.
Before we spill what we know about this Christmas’s crypto miracles, let’s take a trip down memory lane, tracking Bitcoin's price moves for each December over the past 10 years.
Bitcoin’s December Performance: A 10-Year Recap
2013: A Frosty End to the First Big Rally
❆ Start of December: ~$1,000
❆ End of December: ~$750 (-25%)
Bitcoin was coming off its first significant bull run, fueled by very early retail and media hype. The exuberance didn’t last as profit-taking and concerns over Mt. Gox’s solvency sent prices tumbling.
2014: A Crypto Winter Christmas
❆ Start of December: ~$375
❆ End of December: ~$320 (-15%)
2014 was a tough year for Bitcoin. The infamous Mt. Gox hack earlier had crushed investor confidence, and the December sell-off reflected broader pessimism about crypto's future.
2015: A Subtle Santa Rally
❆ Start of December: ~$360
❆ End of December: ~$430 (+19%)
After a year of consolidation, Bitcoin ended 2015 on a positive note. December brought renewed optimism, with the first whispers of institutional interest starting to surface.
2016: The Calm Before the Storm
❆ Start of December: ~$740
❆ End of December: ~$960 (+30%)
This was the beginning of Bitcoin’s journey into mainstream consciousness. A steady rally through December set the stage for the parabolic run of 2017.
2017: Deck the Halls With All-Time Highs
❆ Start of December: ~$10,800
❆ End of December: ~$14,000 (+30%)
Bitcoin mania hit fever pitch as it reached its then-all-time high of nearly $20,000 mid-month. However, the rally fizzled by year-end, signaling the start of a brutal bear market.
2018: Coal in the Stocking
❆ Start of December: ~$4,000
❆ End of December: ~$3,800 (-5%)
The post-2017 bubble burst was in full swing. By December, Bitcoin was down nearly 80% from its peak, and the market was entrenched in a bear trend.
2019: A Neutral Noel
❆ Start of December: ~$7,500
❆ End of December: ~$7,200 (-4%)
This year saw modest losses in December as Bitcoin remained range-bound following a mid-year rally that fizzled out.
2020: A Festive Bull Run
❆ Start of December: ~$19,500
❆ End of December: ~$29,000 (+48%)
The COVID-19 pandemic had accelerated Bitcoin adoption as institutions like MicroStrategy and PayPal jumped in. December capped off a historic year with a near 50% rally.
2021: Bitcoin on the Naughty List
❆ Start of December: ~$57,000
❆ End of December: ~$46,000 (-19%)
Despite starting strong, December 2021 saw Bitcoin slide as macroeconomic fears around inflation and Fed tapering weighed on risk assets.
2022: The Crypto Winter Lingers
❆ Start of December: ~$17,000
❆ End of December: ~$16,500 (-3%)
The collapse of FTX in November left the crypto market reeling. With investor confidence shattered, Bitcoin struggled to recover, hovering near its bear-market lows.
2023: A Recovery Year
❆ Start of December: ~$40,000
❆ End of December: ~$42,500 (+6%)
With the market recovering from the harsh crypto winter of 2022, Bitcoin climbed steadily throughout the year, culminating in December's moderate gains.
Bitcoin ended 2023 on a modestly bullish note, driven by renewed optimism around regulatory developments and institutional interest, especially around the Bitcoin exchange-traded funds that would launch in January 2024.
Final Days of 2024: A December to Remember?
Bitcoin’s 2024 trajectory has been nothing short of remarkable, with the OG cryptocurrency trading above $108,000 — a new all-time high. December’s price action will likely hinge on several key factors:
1️⃣ Federal Reserve Policy : Markets are pricing in a 25-basis-point interest rate cut at the Fed's final meeting of the year on December 18. This has already fueled risk-on sentiment, but a surprise decision to hold rates could spark a possible sell-off.
2️⃣ Institutional Demand : Big-shot investors have continued to pour into Bitcoin in 2024, with the genuine Bitcoin ETFs accumulating more than $100 billion in assets.
3️⃣ Market Sentiment : After breaking $100,000, Bitcoin’s psychological momentum is strong. Traders are eyeing $125,000 as the next target, though volatility could lead to sharp corrections.
4️⃣ Donald Trump : The sheer power concentrated in one man — President-elect has vowed to support the growth of the crypto industry through a Bitcoin strategic reserve, lower taxes, sweeping deregulation and higher tariffs on US imports. Bullishness is truly in the air heading into 2025.
What’s Under the Tree for Crypto in 2025?
Looking ahead, the outlook for Bitcoin and the broader crypto market remains bullish. The combination of institutional, business and consumer adoption, favorable regulatory developments, and a macroeconomic environment that continues to favor risk assets sets the stage for further growth. While $108,000 is impressive, many believe it’s just the beginning of Bitcoin’s next chapter.
As we wrap up 2024, one thing is clear: the crypto market never takes a holiday (or any days off). Whether the Fed today delivers a rate cut or not, traders can expect plenty of action as we head into the new year. So, grab your hot cocoa, keep your TradingView app handy, and enjoy the ride.
Happy holidays, and may your trades be merry and bright!
Entering the volatility period
Hello, traders.
If you "Follow", you can always get new information quickly.
Please click "Boost" as well.
Have a nice day today.
-------------------------------------
If USDT and USDC continue their gap uptrend, I think it is a sign that funds are flowing into the coin market.
I think that for the altcoin bull market to start, BTC dominance must fall below 55.01 and be maintained or continue to fall.
Therefore, the key is whether it can fall after receiving resistance near the M-Signal indicator or Fibonacci ratio 0.5 (57.95) on the 1W chart.
The decline in USDT dominance is likely to result in a rise in the coin market.
The USDT dominance is expected to touch around 2.84 at the most.
Therefore, the key is whether it can fall after receiving resistance near 3.99-4.16.
If the USDT dominance rises above 4.97, the coin market is likely to show a sharp decline.
Therefore, if it is maintained above 4.97, I think the coin market is likely to turn into a downtrend.
--------------------------------------------
(BTCUSDT 1W chart)
If BTC continues to rise like this, I also hope so.
However, since the StochRSI indicator is maintained at 100 and the StochRSI EMA indicator is approaching 100, BTC will eventually show a downward trend.
Therefore, even if it continues to rise further, it will touch the Fibonacci ratio 2 (106178.85) and show a downward trend.
The StochRSI indicator does not tell us how much the fluctuation will occur.
If it starts to decline,
1st: 87.8K-89K
2nd: 79.9K-80.9K
There is a possibility that it will touch the 1st and 2nd areas above.
If not, and it shows a sideways pattern, it seems that volatility is likely to occur when touching the M-Signal indicator on the 1W chart.
The volatility period on the 1W chart is around the week including December 23rd.
Therefore, it can be seen that the volatility period is from December 16th to January 5th.
If the BW(100) indicator or the HA-High indicator is newly created during the volatility period, it is important to see if it can be supported near it.
-
(1D chart)
I will update after a new candle is created.
-
Thank you for reading to the end.
I hope you have a successful trade.
--------------------------------------------------
- Big picture
I used TradingView's INDEX chart to check the entire range of BTC.
(BTCUSD 12M chart)
Looking at the big picture, it seems to have been following a pattern since 2015.
In other words, it is a pattern that maintains a 3-year bull market and faces a 1-year bear market.
Accordingly, the bull market is expected to continue until 2025.
-
(LOG chart)
Looking at the LOG chart, we can see that the increase is decreasing.
Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective.
Therefore, we do not expect to see prices below 44K-48K in the future.
-
The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015.
That is, the Fibonacci ratio of the first wave of the uptrend.
The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019.
Therefore, this Fibonacci ratio is expected to be used until 2026.
-
No matter what anyone says, the chart has already been created and is already moving.
It is up to you how to view and respond to it.
Since there is no support or resistance point when the ATH is updated, the Fibonacci ratio can be appropriately utilized.
However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as a support and resistance role.
The reason is that the user must directly select the important selection points required to create the Fibonacci.
Therefore, it can be useful for chart analysis because it is expressed differently depending on how the user specifies the selection point, but it can be seen as ambiguous for use in trading strategies.
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (when overshooting)
4th: 134018.28
151166.97-157451.83 (when overshooting)
5th: 178910.15
-----------------
Cycle Top Indicator [CTI] | Deep Dive AnalysisIn this post we will look at some of the long-term trends identified with the tracking of the CTI indicator (Red and Green Moving averages in the price chart), and what we can learn from the observed behaviors over Cycle 1 / 2 / 3 and possible implications for Cycle 4.
INDICATOR RECAP
The CTI indicator attempts to model the cycle top based on observed historic price over extension from Cycle 1 / 2. Indicator marks a cycle top when the 'Fast MA' (Red Line) crosses above the 'Slow MA' (Green Line). I.e. the condition where both MAs price value is equal. I should be noted that this condition was achieve for every cycle to date so far, and that the condition was met twice for the experienced 'double peak top' in Cycle 1 but was only met for the first of the two peak tops during Cycle 3.
OSCILLATOR: % DISTANCE MODELLED BETWEEN SLOW (GREEN MA) & FAST (RED MA) – NORMALISED TO PRICE
The below oscillator models the %Distance away from each other the Green Line and the Red line gets over BTC's cycles (Normalised to Price).
* RED HORIZONTAL LINE: When the oscillator is equal to 1, this models the price value of the Green and Red moving averages as equal (or the CTI cycle top condition)
* ORANGE HORIZONTAL LINE(s): These mark the maximum over extension the Red MA exceeded the Green MA during a cycle top condition.
* GREEN HORIZONTAL LINE(s): These mark low levels of the oscillator, indicator maximum distance of the Red MA below the Green MA during each cycle.
BLACK SLOPING TREND LINE(s): Represent the diminishing trend of overlap between the Green and Red Mas each cycle.
* VERTICAL RED AND GREEN LINES: Show cycle tops and bottoms as triggered by the CTI and CBI (Cycle Bottom Indicators) – NOTE: CBI moving averages not shown.
SIGNIFICANCE OF ORANGE HORIZONTAL & BLACK TREND LINES
It is observable that each peak of the Oscillator is lower than the previous cycle peak (each peak is marked with an Orange horizontal line). This diminishing trend is shown with each orange line marked lower than the line before, and modeled with the Black downward sloping trend line(s) connecting the peaks.
A reminder that the Red Horizontal line shows the condition with the CTI models the cycle top and conditions above the Red Horizontal line show the % distance the Red MA reaches above the Green MA each cycle. For example:
* Cycle 1 Peak = 1.58
* Cycle 2 First peak = 1.25
* Cycle 2 Second peak = 1.20
* Cycle 3 First peak = 1.07
The diminishing trend of this relationship over each cycle (if historic behavior continues) suggest that the CTI overlap condition for cycle 4 my not eventuate. This would be modeled by our oscillator not exceeding the red line in Cycle 4.
The learnings for this analysis could suggest that waiting for the CTI indicator to Fire may result in a non-event for Cycle 4.
SIGNIFICANCE OF GREEN HORIZONTAL LINES
A surprising finding from this analysis show for all cycles to date that when the modeled oscillator reaches levels between -1.11 and -1.82 and particularly for Cycles 2 / 3 & 4 between -1.50 & -1.82 (Red MA % distance below the Grean MA), Historically BTC has found its cycle bottom. These findings are summarized below for quick reference.
* CYCLE 1-4 Bottom Oscillator Condition: -1.11 <> -1.82
* CYCLE 2-4 Bottom Oscillator Condition: -1.50 <> -1.82
Feel free to include any other observations I may have missed in the comments below. i intend to do a similar analysis for the CBI indicator when I find the time.
CYCLE 4 | RSI Monthly TrendA quick post to cover Bitcoins Cycles with respect to the Monthly RSI.
We can see based on the monthly close RSI values, a descending trend where each consecutive peak for consecutive bitcoins cycles have reduced in magnitude (i.e. a lower low RSI value coinciding with the trend reversal points. This trend is also evident with monthly RSI low values.
Using trend lines (based on historic BTC behavior in the past), we can speculate what would not be abnormal monthly RSI behavior for this cycles (Cycle 4) top and the future bear market low.
Have a play with the interactive tools in the post to observe details more clearly.
I have also detailed Cycle 1-3 length from the bottom to the top, bear markets (top to bottom), halving's and each cycles Fib extensions for your reference.
For greater detail, reference the below companion post to this discussion.
FET LONG: Daily Bullish Orderflow. On all accounts, FET Bullish Orderflow:
1D BiSi (bullish fvg)
1D Mitigation Block [Orderblock alternative)
Optimal Trade Entry model (OTE) - 0.79 fib level.
Stop placement at $1.315, leveraging a wide stop. This is a compound position from previous long setup posted a couple of weeks ago
BTCUSD - Am I Underestimating the Bulls? Following this channel the prediction allows a 3M Bitcoin which is a bit crazy but could it happen?
Its still within the long term channel up and is the top point of this channel
Weekly timeframe
Anyone want to add some thoughts? Perhaps a rise of 4800% is too much?
GOOD BTC ENTRY !! SL 59K TP 72KREASONS WHY !!
Market Sentiment and Momentum:
Bitcoin soared in 2023, and experts predict further gains in 2024, potentially reaching $80,000.
Despite long-term optimism, Bitcoin experienced a recent dip.
Technical indicators suggest potential downside, but the market remains in a tug-of-war.
If buyers can push past the $44,700 resistance, a jump to $48,000 is in sight.
Spot Bitcoin ETF Launch:
The launch of a spot Bitcoin ETF in early 2024 is poised to revolutionize the crypto landscape.
This move is expected to attract significant capital from both retail and institutional investors, further fueling Bitcoin’s ascent.
Bitcoin Halving Event:
Scheduled for April or May 2024, the Bitcoin halving event will curtail the yearly supply of new Bitcoin.
This reduction in supply could establish conditions where demand potentially outstrips supply, a fundamental factor in the optimistic price forecast.
Investor Confidence and Accumulation:
Investors are holding on to their BTC with conviction stronger than in 2021.
Relative realized profits show that despite a new all-time high, selling has not been as significant as during the previous cycle.
Consistent accumulation since February 2024 indicates confidence among investors, expecting further price growth.