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BITCOIN - TIME TO BUY?$2.5 Billion In Bitcoin Withdrawn From Centralized Exchanges – A Bullish Signal? Investor confidence in the crypto market is rising, and Bitcoin is reaping the benefits. Large-scale investors are accumulating BTC despite its recent price fluctuations. In May, Bitcoin's price failed to stay above the critical $70,000 mark, even though it briefly touched this level twice in the last two weeks. However, recent on-chain data shows growing faith in Bitcoin. Is BTC Ready for a Price Rally? Prominent crypto analyst Ali Martinez highlighted a significant outflow of Bitcoin from centralized exchanges in a recent post on the X platform. This observation is based on the CryptoQuant Exchange Reserve metric, which tracks the amount of a specific cryptocurrency held in centralized exchange wallets. An increase in this metric indicates more deposits than withdrawals of Bitcoin into exchanges, whereas a decrease implies more withdrawals than deposits. Martinez reported that over 37,000 BTC, worth approximately $2.53 billion, have been withdrawn from exchanges in the past three days. This significant outflow signals a shift in sentiment and suggests that investors are increasingly opting to hold Bitcoin in self-custodial wallets for the long term. While the exact reasons for this massive outflow are unclear, the movement of funds away from exchanges points to increased investor confidence in Bitcoin's future. This shift could lead to a supply crunch, a situation where demand exceeds supply, potentially driving up Bitcoin's price. Bitcoin Price Overview As of now, Bitcoin is priced around $67,489, showing a 1.5% decline in the past 24 hours. Despite this, the ongoing reduction of BTC on exchanges might set the stage for a bullish rally, especially if the supply crunch materializes.
BITSTAMP:BTCUSDLong
by SroshMayi
btc ---> one crucial line hello guys... BTC is on an ascending channel if the price break down the specific line that I mention on the chart as a crucial line you can get a short position but the probability of breaking down that line is low so I recommend you get a long position and if the price break down the line close your position --------------------------------- always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
56
AW Bitcoin Analysis - Head And Shoulders Above The Rest...In this video, we build upon the previous Bitcoin post, diving deeper into the count and potential correction unfolding. I share my thoughts on the possibilities of how the current wave could form, starting with an understanding of corrective pattern formation. Using the previous waves as a guide, we explore the general observed patterns, leveraging the concepts allowed by AriasWave. When dealing with variables, there is no preferred count. Instead, we focus on the factors afforded by the thought process driven by the methodology. In support of this idea, we discuss the $168 retracement, which aligns with a similar length measure down from the neckline. This analysis suggests that the price won't reach zero, as that outcome appears less likely. However, if the price approaches this level, it will indicate extreme market psychology driven by the prevailing narrative at that time. As always, it's important to remember that these predictions are not exact, but rather a form of envisioning made possible by understanding the concepts embedded within AriasWave. By exploring different scenarios and factors, we gain insights into potential outcomes and the psychological dynamics at play in the markets. Join me in this video as we delve into the intricacies of the current wave formation, examining the patterns and narrative shaping Bitcoin's journey. Through the lens of AriasWave, we gain a deeper understanding of the market dynamics and the possibilities that lie ahead. Disclaimer: All predictions are subject to change as new information emerges, and individual analysis should be conducted alongside this discussion.
BNC:BLX
by AriasWave
5
#BTCLIVE | Bitcoin Getting Serious Now | Bull's Be Bouncing | Don't Forget To Hit Follow To Never Miss An Idea | | Please Support By Giving This Idea a Boost | #BTCLIVE - Bitcoin Getting Serious Now - Bull's Be Bouncing Macro Analysis Using a combination of a bespoke Bitcoin Log Curve that has worked brilliantly for us in the past (as per chart) we nailed the recent bottom (at least we hope its the bottom), with a daily CVD Trendline Breakout strategy and finally the Pi-Cycle Reversal strategy - everything is lining up for Bitcoin to be confirming its move into a bullish trend. We have held well within the BTC Curve model along with holding the macro trendline now we are looking at making that move up and confirming the trend change which after the Pi-Cycle Reversal signal is looking like it is happening - once we breakout of this next Daily CVD Trendline break then things could start to rocket up. Keep your eye on BTC as we might be starting the pre-halving run up pretty soon!!!
INDEX:BTCUSDLong
by Kryptochristian
BITCOIN PRICE? WHAT CAN WE EXPECTIf BTC makes a higher high we can expect investors confidence as they would be buying an asset in a (uptrend) 50k q4 2022 for an uptrend we have to wait for: Nasdaq has to print a green weekly candle to start a up trend it can happen soon as all tech related stocks are in a heavy discount far from their eq if btc is included in etfs and regulated we can expect its price to get to 100k in a 3 month time span, also expecting less volatility as it is seen as the (gold of the internet)
BITSTAMP:BTCUSD
by davidabickford
CARDANO NEXT BIG MOVE IS GOING TO BE CRAZY!!Hi everyone, just quick update for Cardano, it looks like that cardano holds 0.618 (1.81usdt) fibo support nicely and is ready for its next upward movement. Target price according to fibo extension would be at 1.618 which is around 3.918usdt. Basically I am using fibo retracement for finding support and fibo extension for finding next target zone and also basic trend lines can help. As you can see I am using indicators by Mr. David Ward Jr., but I dont understand his method that much yet. So as we can see that red RSI and blue LSMA are closely at level 50, white energy needs to turn back up and close above level 50. But firstly we need to green going up above level 50 and close. When red rsi and blue LSMA both above 50 crossed with green while green goin up indicates upward pressure. But according to Mr. Ward we need to watch lower time frames to see if upward is really happening. Lower time frames need to win the race against the higher time frames. Also BB bands are contracting which indicates some big movement ahead of us! I certainly recommend to everyone to follow and watch content from Mr. Ward, there is really a lot what you can learn. His content is all about high level of expertise so there is no better place to learn about trading. PS: Always remeber, wait for confirmation! Feel free to comment and share you opinion! I am still learning so your opinion is welcomed! Happy trading to everyone! Not Responsible for actions of others based on my opinions.
Long
by pejko_
BITCOIN Minimum Target: $36000 - Full ExplanationGood morning traders! We hope you are having a beautiful day. 🔸Today we want to show you our vision of bitcoin in the short-medium term and explain why we see it extremely bullish. - Speaking a bit of the context and history, we can see that bitcoin hits all-time highs in late 2017, reaching almost $20,000. After this, there came an abrupt decline that found its lows around $ 3000. From there, the upward movement has been resumed. - During this year, this crypto has made almost a 200% bullish movement. - Analyzing the behavior of the chart, we see that it has potential to be a Cup and Handle movement pattern. 🔸Now we go with a little of theory: - The cup and handle pattern implies a movement in the price that makes a high, a decline correcting movement, a consolidation at lows, and then the subsequent upward recovery. You can clearly see the transition from lower lows and highs to higher lows and highs. After this, it needs a retest of the previous highs (double top pattern), and for a bullish corrective move. 🔸Now, does this imply that bitcoin is going to breakout and make an explosive bullish move imminently? - We do not know, but according to the characteristics of this pattern, no. - What we should expect is a retest of the Resistance zone (all-time highs), and then a corrective move (flag, triangle, pennant, etc.). Once formed, the idea is to trade the breakout. - The MINIMUM target of the movement is calculated by measuring the distance between the minimum of the range and the maximum. - This calculation gives us a distance of $16500-$16600, which, projecting it upwards, gives us an approximate target of $36000.
BITSTAMP:BTCUSDEducation
by ThinkingAntsOk
3