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Bitcoin Bulls Charge Ahead: Whales Bet Big as 50K Looms—A Quick Analysis for a Memorable Christmas Rally In the fast-paced world of cryptocurrency, breaking news often arrives quicker than the giant whales themselves. As the year draws to a close, all eyes are on Bitcoin's soaring trajectory, with a tantalizing 50K milestone seemingly within reach. A swift analysis, guided by professional trader insights, unveils a compelling narrative for a Christmas rally that could make this the most memorable festive season of the new decade. Recent Bitcoin options data has sent shockwaves through the market, revealing that whales—the significant players with deep pockets—are placing hefty bets on a 50K BTC surge. The strategic positioning of these market behemoths has set the stage for a potential bull run that could materialize by the 26th to 27th of December, creating a buzz of excitement and anticipation. Professional traders , armed with their arsenal of technical analysis, are pointing to key indicators that suggest a substantial upward move for Bitcoin. The market sentiment is buoyed by the prospect of institutional investors and whales influencing the price action, providing a robust foundation for the projected surge. The options market , as detailed in a recent report by CoinTelegraph, acts as a barometer for these whale-sized bets. The strategic use of call options—financial instruments that give holders the right to buy an asset at a predetermined price—indicates a bullish outlook among these influential market players. This calculated move, coupled with the historical significance of the 50K threshold, adds weight to the analysis. Bitcoin enthusiasts and investors alike are eagerly anticipating what could be a historic Christmas for the cryptocurrency market. If the projections hold true, witnessing Bitcoin reach the 50K mark would not only mark a milestone for the leading digital asset but also create lasting memories for enthusiasts, traders, and investors as they toast to the end of the year and the beginning of a new era in the crypto space. In conclusion, the confluence of strategic whale maneuvers, professional trader analyses, and the impending holiday season paints a compelling picture of a Bitcoin rally to 50K by the 26th to 27th of December. As the crypto community braces for a potentially historic moment, the news of this impending surge may have arrived quicker than the whales themselves, setting the stage for a Christmas celebration that will be etched into the annals of cryptocurrency history.
COINBASE:BTCUSDLong
by wikitrades
1
#Bitcoin stagnant; will BTC bears force prices below $30k?Past Performance of Bitcoin Bitcoin prices were technically unmoved over the weekend, looking at price charts. Therefore, while there was a notable contraction on July 6 at the back of expanding volumes, the rejection on July 7 relieved buyers. Still, from an effort-versus-result perspective, sellers have the upper hand in the short term. This can only change if buyers flow back, reversing the June 6 loss at the back of rising trading volumes. #Bitcoin Technical Analysis The path of least resistance remains to be northwards despite the current consolidation, from a top-down preview. Prices are boxed inside a $1.5k zone with caps at around $29.8k and $30k on the lower end, and $31.3k on the upper end. As it is, BTC prices are inside a developing bull flag where volumes are relatively light. Therefore, unless there is a conclusive close with rising volumes confirming sellers of July 6 below $29.8k, buyers of the second half of June are in control. For now, aggressive sellers may search for entries, unloading on attempts higher but below $31.3k with targets at $30k and $29.8k in the short term. What to Expect from #BTC? For now, traders should be patient considering the light trading volumes and the failure of bulls to wipe losses of July 6 that skews price action in favor of sellers. This formation could be a precursor for more losses this week, slowing down the upside momentum, especially if prices dip below the $29.8k and $30k support zone. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Falters and Drops 2%, BTC Bulls Find Support at $30kPast Performance of Bitcoin Bitcoin is lower when writing, dropping towards the $30k level. The sell-off stems from developments on July 6 and follows a refreshing surge to $31.3k before tumbling to spot levels. Despite traders--and the general BTC structure supporting buyers, the failure of buyers to push prices above the April high is a concern. Subsequently, the series of lower lows registered this week could fast-track the dump toward $30k or worse in future sessions. #Bitcoin Technical Analysis The path of least resistance, from the top-down preview, is northwards—but this is fast changing considering the sell-off of the past few trading days. The support zone between $29.8k and $30k is critical for now. Moreover, the long-upper wick of July 6 suggests that sellers are firm, and there could be more room for bears to press on today. Still, conservative traders can wait until there is a clear breakout below $29.8k before committing. In that case, a clean break with expanding volumes may open up BTC for a retest of $28.3k. Conversely, a recovery reversing yesterday's loss may be the base for a retest of $31.3k. What to Expect from #BTC? BTC is weak and could reverse recent gains posted in early July. At spot rates, the odds are high for more sell-off below $29.8k. Based on this formation, risk-on traders should wait for a clear definition below $29.8k, or $31.3k, before riding the emerging trend. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin in a Bullish Formation with Caps at June 2023 HighsPast Performance of Bitcoin Bitcoin prices slipped on July 6 but remain bullish, per the formation in the daily chart. At spot rates, the coin remains within a consolidation, moving tightly inside a $1.5k zone with caps at $31.3k and $29.8k on the lower end. Technically, buyers have the upper hand, but there can be more upsides if traders shake off the current weakness and boost prices above immediate liquidation levels. #Bitcoin Technical Analysis The June 30 doji bar defines the current trade range. Even though prices increased in early July, there must be a conclusive break above $31.3k for buyers to be in control. As it is, the consolidation might offer entries for aggressive buyers loading the dips. However, being on the cautious side, conservative, risk-on traders can wait for a clean, high-volume breakout in either direction before riding. Any confirmation of buyers above $31.3k may see BTC rise to $32.5k in a buy trend continuation formation. Conversely, losses below $29.8k cancel this upbeat forecast, paving the way for sellers angling for $28.3k, and lower. What to Expect from #BTC? Traders are confident, but the failure of higher highs in the past few days has been heaping pressure on bulls and slowing down the uptrend. Nonetheless, there could be more upswings should BTC break $31.3k. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Firm, Buyers Targeting New 2023 Highs to $32.5kPast Performance of Bitcoin Bitcoin prices are firm when writing, floating above the FWB:31K level as the recent consolidation proves to be an accumulation. How fast bulls will push above $31.3k and even new 2023 highs will determine the speed of the rebound after the slowdown in the final days of the last days of H1 2023. #Bitcoin Technical Analysis From the daily chart, the path of least resistance is northwards from an effort versus result perspective. Presently, buyers have the upper hand, and this forecast holds, provided prices are floating above the $29.8k support level. Considering the expansion yesterday, traders can look for long entries, buying the dips and looking to align with the short-term uptrend set in motion by the June 21 anchor bar. As it is, BTC buyers may look for $32.5k and $35k as immediate targets. What to Expect from #BTC? Buyers are optimistic, and this holds, reading from the candlestick arrangement. Overall, the uptrend remains, and every low above $29.8k and $30k support zone provides entries for determined traders. BTC is likely to start July from a stronger footing at this pace, registering new 2023 highs. Resistance level to watch: $32.5k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Bulls Firm, BTC Stuck in a Choppy Sideways ConsolidatioPast Performance for Bitcoin Based on the performance in the daily chart, bitcoin prices remain volatile and choppy. Even though the primary trend remains northwards, there are hints of weakness, looking at the candlestick arrangement. The only positive is that sellers have been unable to break below the $29.8k and $30k primary support. The $31.3k is a liquidation level to watch out for. #Bitcoin Technical Analysis The uptrend remains, and prices are inside a bull flag, looking at the performance in the daily chart. The consolidation remains, but the breakout direction would shape the short-to-medium-term trend. For now, conservative traders can wait until there is a clear trend definition, aware that gains above $31.3k would likely pump the coin to $32.5k or better. Conversely, sharp losses below $29.8k invalidate the current preview, possibly allowing the coin to retest $28.3k and later $27k. What to Expect from #BTC? Buyers are optimistic, but the current formation points to balanced price action. The overall trend, set by events in the last weeks of June, dictates price action. Aggressive, risk-off traders may load as prices move sideways, aligning with the primary trend if prices are above $29.8k. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Consolidates, BTC Resistance Remains At $31.3kPast Performance of Bitcoin At spot rates, there is nothing to write home about BTC. Prices remain within a consolidation, moving below $31.3k and above the primary support zone at between $29.8k and $30k. Even though buyers are optimistic, the rejection of higher highs can be a concern for bulls. Still, with prices consolidating horizontally, the breakout direction could shape the short-to-medium-term trajectory. #Bitcoin Technical Analysis Buyers are confident; every low should theoretically provide entries for buyers targeting $31.3k or better. The rejection of higher prices on June 28 was with light volumes. Therefore, the uptrend remains from an effort-versus-result perspective unless there are deep losses below $30k. Conversely, there could be a reprieve if there are gains above $31.3k. Before committing, conservative, risk-on traders can wait for definitive, high-volume breakouts above/below $31.3k and $29.8k, respectively. What to Expect from #BTC? Traders are closely watching how price action unfolds in the daily chart. As it is, the path of least resistance is northwards at least from a top-down preview. Even so, the weakness in the recent retracement questions the strength of buyers. Therefore, while bulls remain in control, a break below last week's lows could define the immediate trend for Bitcoin. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Bitcoin Soaks Selling Pressure; Will BTC Rally Above $31.3k?Past Performance of Bitcoin Bitcoin is roughly 20% from June 2023 lows and resilient, soaking selling pressure, looking at the performance in the daily chart. Even though there were attempts for lower lows, prices are firm above the $30k psychological level and $29.8k. Meanwhile, the coin is defying selling pressure and may break above $31.3k in the days ahead in a buy trend continuation formation. #Bitcoin Technical Analysis Traders are upbeat, but BTC, at the moment, remains inside a horizontal range with caps at $31.3k and $29.8k support. Unless there is a comprehensive, high-volume close above last week's highs, conservative, risk-on traders can wait for trend definition. Only after then can they search for loading entries to buy on dips in a buy trend continuation formation that could lift BTC towards $32.5k. Even so, BTC remains within a bullish formation, and the contraction from last week has formed a minor bull flag. The uptrend will be valid if prices are inside the June 21 to 23 trade range. What to Expect from #BTC? Risk-off traders can load on dips, expecting Bitcoin to resume the uptrend. Traders are bullish, but this can change if the upside momentum is not sustained above the $29.8k primary support level. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Bitcoin Uptrend Holds, Bulls in Charge above $30kPast Performance of Bitcoin The uptrend is slowing down, but buyers have the upper hand despite the contraction. As it is, BTC buyers are trending at around 2023 highs and can edge even higher above FWB:31K and to $35k in a welcomed expansion. The immediate support is at $30k, while the buy trigger is $31.3k. A conclusive close above last week's high and strong rejections of lower lows from spot rates could propel the coin to new H2 2023 levels. #Bitcoin Technical Analysis The path of least resistance is northwards, and bulls, despite the rejection of higher highs, have support above $30k and $28.3k on the lower end. The June 21 high-volume, wide-ranging bar anchors the current formation. Since recent bear bars have light volumes, every low above $30k and, ideally, $28.3k are entries for aggressive, risk-off buyers targeting $32.5k. This forecast holds from an effort-versus-result perspective. It will be null only once there are sharp losses below $28.3k at the back of expanding volumes exceeding those of June 21, the leading bar of the current formation. What to Expect from #BTC? Buyers are optimistic and pumped by fundamental factors. This confidence holds provided prices are trending above immediate support levels and the lower low bars are with light trading volumes. Any upswing above last week's highs could propel BTC to new 2023 territory. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
Bitcoin Tears Higher, Rallies 16% As Buyers Target $31kPast Performance of Bitcoin Bitcoin is up 16% from its June 2023 lows and is trading above key support levels. With BTC above $28k, buyers are in control, and there could be more headroom in the days ahead. Per the BTCUSDT candlestick arrangement, every low above $27.3k may offer entries for traders angling for more gains toward $30k and FWB:31K in future sessions. Bitcoin Technical Analysis The upswing of June 20 is with rising trading volumes, validating the breakout above $27.3k. As it is, BTC is within a bullish breakout formation, trading above the June 6 highs and confirming buyers of the bullish engulfing bar. Subsequently, as price action aligns with the dominant trend, traders can look to ramp up on every attempt lower but within the June 20 bull bar and above $27.3k. This forecast is supported since BTC is in a bullish breakout above a multi-week resistance trend line. As such, traders can look to load the dips with eyes on May and April 2023 highs. What to Expect from BTC? Bulls will likely flock back, buying as traders aim to capitalize on the bullish breakout bar of June 20. Following this preview, BTC will likely remain supported today. As such, traders can look to continue loading on dips with a possibility of BTC printing new H2 2023 highs in sessions ahead. Resistance level to watch: $30k Support level to watch: $27.3k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Bitcoin Bulls Confident, BTC Likely To Pierce above $27.3kPast Performance of Bitcoin Bitcoin continues to float higher when writing, and prices will likely breach the $27.3k level in the coming hours. From the daily chart, BTC prices are resilient and have reversed recent losses, tracking higher and likely to confirm buyers of June 6. As it is, traders can load on dips with even more opportunities above $27.3k, with the immediate target at $28.3k or better in the days ahead. #Bitcoin Technical Analysis BTC prices are choppy and volatile when writing. Despite recent gains, there must be a comprehensive close above $27.3k with expanding volumes for the buyers of June 6 to be valid. Before then, conservative traders can watch from the sidelines. A wide-ranging bull bar with expanding volumes breaching $27.3k may signal trend continuation and a possible rally toward April highs at $31k. Meanwhile, aggressive, risk-off traders can load on dips above $26k, targeting June 6 highs of $27.3k. What to Expect from #BTC? Overall, the path of least resistance is upwards, reading from the BTCUSDT candlestick arrangement in the daily chart. BTC prices are still within a bull flag, and buyers are beginning to assert themselves. Only once there are gains above June 5 and 6 can buyers confidently load, expecting even more gains ahead. Resistance level to watch: $27.3k Support level to watch: $26k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Bounce But Bearish, BTC Price Resistance at $26kPast Performance of Bitcoin Bitcoin recovered on June 15, but bears remain in control. The June 14 bar is critical in shaping the short-term trend. Since the candlestick is bearish engulfing and broke below the June 6 lows, the bear breakout formation set in motion by the June 5 bar remains. Technically, traders can look for entries to short on every attempt higher below the $25.5k and $26k zone, targeting $22.5k or lower. #Bitcoin Technical Analysis The present trend is bearish, and the June 14 bar defines the short-term. It is a bearish engulfing bar that forced the coin to new H2 2023 lows. However, while the bounce on June 15 may trigger demand, bears are in control, provided prices are within the June 14 bar from an effort-versus-result perspective. Since the recovery is also with lighter volumes, there is a high chance that the bounce may stall. Still, a breakout above $26k, reversing June 14 losses, may question the downtrend, possibly invalidating the preview, especially if bulls build on the formation over the weekend. As it is, the immediate trend in a possible bear trend continuation formation mirroring June 5 bar is $22.5k and later $20k What to Expect from #BTC? Technically, the uptrend remains from a top-down preview as long as gains from March to April haven't been reversed. BTC may recover above $28.3k, but before then, the immediate resistance is June 14 highs at $26k. Contractions today may draw more sellers targeting $24.5k, $22.5k, and $20k in the sessions to come. Resistance level to watch: $26k Support level to watch: $24.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Bulls Fail to Follow-Through, BTC Bearish Below $28.3kPast Performance of Bitcoin Bitcoin prices are lower, retracing from June 7 highs, and are below $27k. At this level, bulls still have a chance as prices trend above $25.8k and volatility remains. However, for trend confirmation, there must be a close above $28.3k, the immediate resistance, and the buy trigger line. The only formation that will cancel this preview is a strong sell-off forcing BTC to dump below $25.8k, confirming sellers of June 5. #Bitcoin Technical Analysis BTC remains in a broader consolidation that skews to favor sellers in the short term. Still, the encouraging reversals of June 5 losses reinvigorate demand, placing BTC bulls at a vantage position. Even so, conservative traders can wait for a conclusive close above $28.3k in confirmation of June 6 gains before loading on dips targeting $30k or better. On the cautious outlook, any unexpected dump that places BTC below $25.8k, confirming June 5 losses, would cancel this bullish outlook, fueling sellers angling for $22.5k in the medium term. What to Expect from #BTC? The expansion of BTC prices on June 6 was a net positive for optimistic buyers. Fundamental events, especially in the United States, might spark demand supporting Bitcoin. Nonetheless, the failure of buyers to follow through and pump BTC above $28.3k, confirming June 6 gains, is a concern. Resistance level to watch: $28.3k Support level to watch: $25.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
Bitcoin Soaking Sell Pressure; Will BTC Break Above $28.3k?Past Performance of Bitcoin Bitcoin prices are higher when writing, soaking selling pressure from yesterday. It remains to be seen whether prices will float higher. Sellers have the upper hand if prices stay below the $28.3k reaction level. Based on this formation, traders should wait for a clear trend definition, aware that gains above $28.3k and ideally $30k on the upper hand and $25.8k on the lower end could shape the medium-term trend. Bitcoin Technical Analysis Overall, there is a glimmer of hope for bulls since the immediate trend is, after all, bullish from a top-down preview. The current trend is defined by the buying trend from March to April. Therefore, Bitcoin bulls have a chance only once there is a comprehensive close above the liquidation zone at $30k and $31k. The $28.3k level is the initial trigger that may anchor the leg up toward April highs. However, considering the failure of bulls to press on and comprehensively reverse recent losses, there is a chance that BTC may collapse below the clear support level of May despite today’s gains. Therefore, conservative traders can steer clear and wait for a breakout before initiating trades. Any loss below May lows could see BTC drop to as low as $22.5k What to Expect from BTC? The path of least resistance is upwards, from a top-down preview. An optimistic outlook shows that a close above $28.3k will confirm buyers of May 28, possibly setting up buyers for the next leg up to $30k in a mini-rally, an opportunity for aggressive buyers. This will be canceled once sellers breach May 2023 lows. Resistance level to watch: $28.3k Support level to watch: $25.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Breaks Higher, Recovery Completes A Bull Flag?Past Performance Bitcoin prices are up eight percent from recent lows when riding, breaking above FWB:27K and $27.5k, two of last week's resistance lines. At this pace, there are hints that BTC bulls are building momentum. However, whether this will continue depends on how prices close. A sharp close above $27.5k, confirming yesterday's gains, would likely lift BTC to $28.3k and better in subsequent sessions. #Bitcoin Technical Analysis Overall, the medium to long-term price formation is bullish. The rejection of lower prices and rebound from $25.8k in the last few trading days suggests confidence. Even so, it will be critical that bulls close above $27.5k and the middle BB today. In that case, there could be more gains towards $28.3k in the days ahead in a buy trend continuation formation. The resulting formation means that the primary support of the bull flag will be at $25.8k, while buyers should target FWB:31K or April 2023 highs. Any dump from spot rates below this key support level disqualifies bulls, canceling this preview. What to Expect From BTC? BTC is technically bullish from a top-down preview. Prices failed to move lower and have swung back, closing above last week's consolidation. Since the FWB:27K and $27.5k zone represented a strong liquidation line, the surge of May 26 through 27 could anchor the leg up to $28.3k or better in upcoming sessions. Resistance level to watch: $28.3k Support level to watch: $26k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Rejects Bears after Slipping To $25.8kPast Performance of Bitcoin The last three days have been turbulent for BTC prices. Bitcoin prices crashed to as low as $25,800 before bouncing and stabilizing. Despite the recovery, price action favors sellers since the coin is trading at below critical resistance. Overall, this outlook will remain bearish and can influence price action in the session ahead. #Bitcoin Technical Analysis The bearish outlook remains until prices break $28.3k and $30k. This can happen considering the long lower wick of May 12, pointing to strong rejection. Notice that the follow-through wasn't strong, suggesting pent-up momentum that can only be shaped once there is a breakout. A surge higher may be the foundation for a leg up to $31k. Moreover, the strong rejection on May 12 is at the 50% Fibonacci retracement level of the March to April 2023 trade range, an important level. Therefore, how prices pan out in the days ahead can shape the medium-term trend. What to Expect from #BTC? The bear run could be coming to an end, and the May 12 bar had a long lower wick suggesting intense buying pressure. Moreover, the divergence from the lower BB indicates low volatility. Therefore, there are risks for traders who might short without a convincing close below last week's lows at $25.8k. For now, any upswing above $28.3k might ignite demand. Resistance level to watch: $28.3k Support level to watch: $25.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Tethered To $28k as BTC Trading Volumes ShrinkPast Performance of Bitcoin Bitcoin prices are relatively steady when writing, tethered to $28k, but the uptrend remains. Even though buyers are upbeat, the failure of buyers to push above the immediate resistance level at $29k is a concern. As laid out before, whether BTC will rally or dump depends on the reaction at $29k, marking Q1 2023 highs; and $26.6k in the near term. These are critical reaction levels that traders should watch out for as price action either aligns with the dominant trend from December to March, or dips in line with the bar of March 22. #Bitcoin Technical Analysis Overall, traders are confident, looking at the development in the daily chart. There are lower lows relative to the upper BB, signaling waning momentum. This already shows, considering the light trading volumes of the past few trading days. At the same time, the failure of bulls to invalidate sellers means bears stand a chance especially if today ends up lower. For now, traders can wait for a clear trend definition, aware that any upswing above $29k may see BTC tear higher to $32k in a buy trend continuation formation. What to Expect From #BTC? The uptrend remains despite decreasing volumes and waning upside momentum. Immediate support remains at $26.6k, and should sellers of March 22 flow back, BTC may crack to retest February 2023 highs at around $25k. In that case, the uptrend will be nullified. Resistance level to watch out for: $29k Support level to watch out for: $26.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Breaks Above $29k, Start Of The Next Bull Run?Past Performance of Bitcoin Earlier today, Bitcoin broke above the recent consolidation, reaching Q1 2023 highs of around $29.1k. The leg up was in confirmation of yesterday's rejection of bears, a net positive for optimistic bulls. As it is, traders can search for entries on every attempt lower towards March 29 lows with targets at $30k and $32k. #Bitcoin Technical Analysis Overall, buyers are upbeat, and the trend is northwards, clear from the daily chart. The consolidation of the past few days has completed a rising channel. Since prices didn't fall below immediate support levels, traders have been chiefly accumulating. This preview will hold provided prices are above $26.6k. Conservative traders can wait for a close above $29k before loading on in a breakout formation. Meanwhile, aggressive traders can align with the dominant trend, entering longs with targets at Q1 2022 lows at around $32k. What to Expect from #BTC? The rejection of lower lows at the back of rising volumes indicates strength. Traders can seek to align with the primary trend by buying dips in lower time frames, targeting immediate reaction points. However, there could be better entries once a solid close above the rising channel and consolidation above March 2023 highs. Resistance level to watch out for: $29k Support level to watch out for: $26.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#ETH Bulls up 40% from June Lows, ETHBTC in a Bull FlagPast Performance of ETHBTC Ethereum is technically bullish versus BTC, especially if the price action of H2 2022 leads. Presently, Bitcoin prices appear firm but inside a descending wedge, that is, a bull flag. The primary support is at 0.070 BTC, while the resistance is 0.075 BTC. #ETHBTC Technical Analysis ETH buyers are in control, per the formation in the daily chart. Despite the series of lower lows, especially in the late Q3 and mainly Q4 2022, the uptrend is firm. To illustrate, ETH is up 40 percent from June 2022 lows. Furthermore, ETH bulls have support at around the 38.2 percent Fibonacci retracement levels meaning the upside momentum is still strong. However, from the current formation, traders can wait for a clean breakout before committing. Gains above 0.073 BTC, reversing losses of December 16, above the bull flag, may see ETH float higher, towards 0.075 BTC and 0.078 BTC, respectively. What to Expect from #ETHBTC? Prices are in range, trading inside a bull flag. Overall, buyers are in charge, but there must be a breakout for trend confirmation. Any surge above 0.075 BTC may drive more demand for ETH, pumping it to Q3 2022 highs. Resistance level to watch out for: 0.075 BTC Support level to watch out for: 0.070 BTC Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#ETH Uptrend is Defined, Bulls May Reclaim 0.082 BTCPast Performance of ETHBTC ETH bulls are in the driving seat when writing, reading from the formation in the daily chart. For context, ETH has outperformed BTC in the last two months, adding an impressive 65 percent. Although ETH is currently down, prices are above the dynamic support line, which is the middle BB, and if they press on, they would likely reclaim August 2022 highs. #ETHBTC Technical Analysis Following gains of August 25, ETH bulls have unwound losses it posted versus BTC on August 19. However, those gains have been reversed at spot rates. The positive news is that ETH prices are back above the 20-day moving average, aligning with the primary trend established in July. As of now, aggressive ETH traders may load the dips in smaller time frames, targeting 0.082 BTC or August 2022 highs. However, this forecast will hold as long as prices are above 0.074 BTC or last week's lows. Meanwhile, conservative trend traders can wait for a clean close above 0.082 BTC before riding the emerging formation, aiming for 0.089 BTC or December 2021 highs. What to Expect from ETHBTC? Losses of late last week have been reversed, and ETH prices are back in an uptrend despite earlier losses today. In all, the primary trend has been defined and ETH bulls may edge above August 2022 highs in a continuation pattern if ETH bulls reject lower prices by today’s close. Resistance level to watch out for: 0.082 BTC Support level to watch out for: 0.074 BTC Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin Analysis and Market Movement Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Let us start looking at the data starting from July 21, 2021, we are able to notice that the market is moving in phases, The first phase start on July 21 and ended on September 28 : The market started getting some great momentum and increase in volume, and the value of bitcoin started increasing and jumped from the 29000 range to the 50000 levels before dropping back down and hitting 38000. After that, the market seems to move in a side-way movement for a short time period to catch some breath before the second push which happened on The First of October and it's still going on today where the market seems to be catching a breath again before another push. The price started gaining more momentum and volume again on Oct 1, and the market was able to push from the 39000 level all the way to 68000 zones before dropping down and reaching the middle 50000 range. by using the same patterns on the screen and checking out Technical Indicators we notice that the market seems to be getting ready for another push soon that will lead the BTC price above the 80000 level and this phase could last up to the end of January 2022. Technical Indicators on a Weekly Chart shows : 1) The market is only below the 5 MA and EMA (Short-Term Bearish movement) But still above the 10 20 50 100 and 200 MA and EMA (Bullish Long-Term Trend). 2) The RSI is at 60.723 showing Great Strength in the market. 3) The MACD is above the 0 line indicating a Bullish market with a positive crossover between the MACD line and the Signal line. 4) The ADX is at 18.23 near the Trending phase, With a positive crossover between the DI+ (25.56) and DI- (17.88) Support & Resistance points : support Resistance 1) 54775 1) 65470 2) 49846 2) 71234 3) 44081 3) 76164 Fundamental point of view : We notice a lot of news that allows bitcoin to grow even more this year some of them are : 1) El Salvador making Bitcoin Legal Tender, And building Schools, Hospitals and started working om new City called Bitcoin City with 0 Taxes (except VAT TAX) 2) A lot of people starting to receive their Salary in bitcoin, including Mayors from different States in the USA, and a lot of Public Figures are doing the same. 3) Bitcoin Miners are starting to build Energy sources to help power the miners and the city where they are located. 4) Introducing the First Bitcoin ETF. 5) Highly anticipated Bitcoin upgrade got activated(Taproot) . . . . This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
Long
by GabiDahduh
6
Bitcoin Update 08/11/21: BTC Breaking Out, Road to $74k Bitcoin Update 08/11/21: BTC is Breaking Out, Road to $74k is clear from here, we are currently 12% gain away from the $74k target at the 127.20% fibs. Please see previous analysis below. Happy Trading :) Bitcoin Update 19/10/21: Bitcoin is currently 0.82% away from the previous ATH set in May, our next price target is at the 127.20% fibs @ $74k. Please see previous analysis below. Happy Trading :) Bitcoin Update 13/10/21: BTC Golden Cross Road to $74k (18/09/21). BTC is showing strong support around 53k-55k, from here we expect a clear breakout above the 78.60% fibs and a retest of the ATH🎯@$64k! Currently BTC is only 12% away from the previous ATH . BTC is now back above 55k for the 2nd time now in 5 months. Please see previous analysis below. Happy Trading :) Bitcoin Update 03/10/21: Since the 30th September, Bitcoin has grown 18%+ over the past 3 days. From the current price level Bitcoin is 33% away from the ATH . Scenario 1 didn't quite play out for BTC as we mentioned earlier during the start of the month (September). From here we can expect the Scenario 2 Push Phase to play out. A clear break from here with the 13 EMA crossing up above the 50 SMA will be further confirmation of this continued bullish momentum pushing above Key Resistance at $46k. September is historically a red month, and this year we saw this across the board from stocks to cryptocurrencies. The BTC Golden Cross experienced on the 16/09/21 signals very bullish momentum. From a technical perspective Bitcoin is in a Bullish market, further to this we have the Golden Cross for BTC which occurred on the 16th September on the Daily Chart (Historically every time we see this movement on the moving averages, we have experienced significant growth in BTC ). The Golden Cross signals very strong bullish momentum which could see Bitcoin back at the ATH price level after a clear breakout above the 61.80% Fibonacci which is a significant level for whale action as we see accumulation around this key price level range between $47k-$52k. From the current price level @ $48k, BTC is 54% away from the ATH price. We expect some explosive movement incoming in the next 2-3 months as we head towards eoy. Please see previous analysis below. Happy Trading :) 🎯 Bitcoin Update 05 /09/21: Bitcoin has been in a steady accumulation range between $46k-$51k for the past 23 days. From this key level we can expect continued bullish momentum towards the upside to the next key level of resistance at $57k. Currently Bitcoin is 25% from its ATH price @ $64k. If we can have a clear break of this resistance and hold above $51k flipping it into support we can expect a bullish run towards the $57k resistance, this move might be met with some heavy resistance above this key level as $58k-$60k is a key psychological barrier for Bitcoin . The next few months are critical for BTC as bullish momentum could see the 127.20 fib target at $74k. Please see previous analysis below :) Happy Trading! $50K incoming again for the weekend 🚀, if we can break resistance and hold above $51k flipping it into support we can expect a bullish run towards $57k resistance. The next few months are critical for BTC as bullish momentum could see the 127.20 fib target at $74k. Please see previous analysis below :) Happy Trading! Bitcoin Update 21/08/21: Road to $74k is clear, but first Bitcoin has to break above $51,068 and flip this into support for the next leg up to the 78.60% Fibonacci level at $57,125. If Bitcoin can flip the 61.80% fibonacci level into support we could see bitcoin approaching the $60K region looking to push for a new ATH . The 61.80% fibonacci level is a key resistance level and a level where we previously saw large amount of whale accumulation in the previous run before the May crash. In another possible scenario we could see Bitcoin retracing and consolidating in the short term but when we look on the lower time frame 4H, the swing call script has just triggered a strong buy signal showing continued bullish momentum for Bitcoin . It is official the Bitcoin Bulls are back!! Please see previous analysis below. Happy Trading :) Bitcoin Update 14/08/21: Update: Currently 4% Gain from this Short-term Swing Opportunity, stops just below $43,812, TP @ $51,068 at the 61.80% Fibs, additional TP at the 78.60% @ $57,125 (19% Gain from current price level). Please see previous analysis below. Happy Trading :) The Bitcoin Bulls are Back! After setting a new ATH @ $64,841 in April, Bitcoin experienced its the first major sell (some may say manipulated) off in this Bull Run Cycle (-50% from the top). We have been closely watching the BTC chart for a strong trend reversal signal. From the ATH @ $64,841, Bitcoin formed a triple bottom in the $28-30k region, the last bottom experienced on the 21st July is confirmed as our bottom here. The Swing Call Script gave further confirmation of the strong trend reversal as a Buy signal was triggered on the 4H Chart on the 22 July and further on the 6th August showing strong signs of bullish momentum back into the market. From here we expect BTC to retest the current ATH @ $64k which is a 40% Gain from the current price @ $45k. Further to this, we can expect some heavy resistance between the 61.80% - 78.60% fibonacci level. A clear break past the 78.60% fibonacci level see BTC setting a new ATH at the 127.20% fibonacci level. Please see previous analysis below. Happy Trading :) BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below. Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. #Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from £BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 #BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet