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Bitcoin's Recent Quieting: A Calm Before the Storm or a Shift...Bitcoin's Recent Quieting: A Calm Before the Storm or a Shift in the Wind? After surging to impressive heights in July 2023, Bitcoin has embarked on a period of subdued selling for the past five weeks, inviting intrigue and speculation within the cryptocurrency community. The once-fiery volatility has simmered down to levels reminiscent of the heady days of 2017, signaling the potential for a substantial price movement on the horizon. As the stage is set for a dramatic turn of events, it's worth considering the historical echoes that might shape Bitcoin's trajectory. Before the Bitcoin bulls can confidently sound their triumphant horns, a word of caution hangs in the air – the impending move could swing in either direction, and the annals of history have often repeated themselves. Casting our minds back to 2017, a time when Bitcoin bulls propelled prices to exhilarating new summits, a similar pattern unfolded. As volatility waned, prices tumbled by an approximate 50%, only to reignite their upward march in the long term. Such historical resonances could indeed reemerge now, with the specter of bearish forces looming on the horizon. While the cryptocurrency market is no stranger to outsized gyrations, the absence of a fresh long-term catalyst to catapult Bitcoin to new heights cannot be ignored. Amidst this climate of uncertainty, a formidable obstacle looms at the 30,000 level, posing a significant hurdle for the bullish contingent. However, all is not lost for the proponents of the Bitcoin rally. Enter the prospect of a deteriorating US Dollar – a beacon of hope for the bullish camp. As the greenback's strength wanes, Bitcoin could seize the opportunity to ascend, garnering momentum in the process. But the outlook remains murky, with the ominous cloud of a potential equity market sell-off casting its shadow. This looming threat, coupled with comments from certain US Federal Reserve officials hinting at potential interest rate hikes, paints a complex picture. While at least two more interest rate hikes from current levels are being discussed, the fluidity of the situation renders any predictions tentative. The constant tug-of-war between recession risks and economic stability adds further layers of intricacy to the tapestry of possibilities. A recession-induced downturn in the US Dollar could serve as a bullish tailwind for Bitcoin, yet this very scenario could also spell trouble for the economy and equity markets, dampening the overall bullish sentiment. In this landscape of uncertainty, the perpetual dance between the bullish and bearish forces takes center stage, paving the way for a continuation of the current low-volatility price action, weighed down by a bearish bias. As traders and enthusiasts hold their breath, awaiting the storm or shift that will inevitably come, it's clear that the cryptocurrency arena remains a realm of unpredictable twists and turns. Ultimately, the fate of Bitcoin rests in the hands of a myriad of interconnected factors, from macroeconomic trends to geopolitical shifts. While the bulls eagerly anticipate a triumphant resurgence, the bears lie in wait, ready to seize any opportunity for a downward slide. As the stage is set for the next chapter in Bitcoin's saga, one thing is certain – the journey ahead promises excitement, uncertainty, and the potential for substantial rewards and risks alike.
Long
by FOREXN1
18
#Bitcoin - thoughts out loud #18Good evening, we are from Ukraine! Dear colleagues, I am glad to welcome you! 30,000 was successfully reached, albeit with a slight delay. The graph shows the effort result and the volume. In the future, I expect a correction with a possible resumption of the upward movement from certain price levels. I'm targeting 29000-29100 because we need a successful test, in other words, the last point of resistance. Under other circumstances, a drop lower is possible. Thank you for your attention, and a special thanks for your likes and comments . Sometimes you win /sometimes you learn . #Bitcoin
Long
by WVitalievich
btc/usdt#Bitcoin Update: In the complex world of financial markets, patterns emerge in the form of "impulse" and "correction" waves. Currently, #Bitcoin is constructing its initial wave, indicating potential upward movement. Our analysis predicts a short-term decline followed by a strong buying opportunity. Our team foresees a strategic entry point for savvy traders. To enhance your trading potential and ensure secure transactions, We provide professional fund management and trade execution services. Want to amplify your trading success? Ask us how we manage both your funds and trades, minimizing risk and optimizing returns. Join us on this journey of profitable trading opportunities.
COINBASE:BTCUSDLong
by oraclpips
#Bitcoin - thoughts out loud #17Good evening, we are from Ukraine! Dear colleagues, I am glad to welcome you! After the weekend, a clearer situation has been formed for our own understanding, which indicates that locally the price of the first cryptocurrency should stay above 28680, in other words, a false breakout of the lows and an additional test of floating propriety to squeeze weak hands out of the market. The target is 28680-28700, the support range from which we can see the resumption of the upward movement. In the absence of professional buyer activity, the asset is expected to depreciate to certain price levels. Sometimes you win/sometimes you learn. #Bitcoin
Long
by WVitalievich
Predicting the Future Bitcoin Price with the Power of FibonacciUnravelling the Future of Bitcoin with a Combination of Elliott Wave Theory and Fibonacci Analysis As a Bitcoin enthusiast, I acknowledge that forecasting the future price of Bitcoin is a complicated and daunting task. While I do not claim to possess a magical crystal ball, I do possess a deep-seated passion for examining market trends and analysing data. That's why I have been experimenting with various technical analysis methods, including Elliott Wave Theory, Fibonacci Circles, Fibonacci Timezones, Fibonacci Extensions, and Fibonacci Retracements. My approach merges Elliott Wave Theory, which sheds light on market tendencies, with Fibonacci analysis, which provides me with a more profound understanding of market behaviour through the Fibonacci number sequence. This combination allows me to gain a broader perspective of price movements and make more informed predictions. Fibonacci Circles, Fibonacci Timezones, and Fibonacci Extensions enable me to identify crucial support and resistance levels and visualize the potential for price movements. On the other hand, Fibonacci Retracements help me monitor where the price may retrace during a trend. Through my personal exploration of these analysis methods, I aspire to offer a novel outlook on the future of Bitcoin: My analysis of the Elliott Wave reveals that Bitcoin is poised for an impulsive wave 5, which is part of an impulsive wave 3 at a higher degree. Utilizing the Fibonacci extension method, I have identified resistance points at 1.236 with a price level of $292,168 and 1.382, yielding a price of $713,491. The Fibonacci Circle and Timezones further support these resistance points, projected for January 2024 and December 2025. It is my belief that the peak of the impulsive wave 3 will occur at $292,000. By applying the Fibonacci retracement method, starting from this peak and extending back to $152, I have determined the 0.236 level to be a significant support zone at $49,000, and the correction wave 4 in the highest Elliott wave cycle. With this in mind, the path is clear for the final impulsive wave 5 to reach the 1.382 Fibonacci extension at $713,491 by December 2025.
BITSTAMP:BTCUSDLong
by joerivdpol
#BTC Up or Down?It's been 5 days since BTC is consolidating between 29400 and 28800$. Consolidation range is narrowing, that is why we can see almost zero volatility on the coin. Usually, after long consolidation we can expect a big move. Will this be move positive or negative - hard to say. because currently the situation is 50/50 Personally I would like to see downtrend scenario, and for this I have several reasons as: SPX currently shows Bearish move, USDT.D looks pretty bullish, news around Huobi exchange. All this can trigger BTC to go down towards 27 - 26K $. At the same time, if we will see a breakout through 29600$ (from the current price) and consolidation above this level, this will mean, that BTC will increase in the price towards to 32000$ where we can see weekly FVG. You can take hedge long and short positions on BTC. Just dont forget to follow RM!
by vazitrades
#Bitcoin - thoughts out loud #16Good evening , we are from Ukraine! I've been watching the chart since Friday and I can identify several key facts in favor of the long scenario: 1) there is no floating supply on the market at the moment. 2) there is no resistance above the local highs. 3) the news background is negative. 4) and most importantly, "someone unknown" is actively buying up almost the entire supply. But there is a downside, there is a lack of results and progress on the chart, the situation should improve in the near future, or the asset will depreciate, the third is not given. Taking these facts into account, I can only say one thing, everyone get ready, because on the 7th-8th of this month, something very incredible awaits us all. I wish you success and all the best! I wish everyone who reads this success and prosperity. Sometimes you win /sometimes you learn . #Bitcoin
Long
by WVitalievich
#Bitcoin - thoughts out loud #15Good evening, we are from Ukraine! At the moment, all the conditions of the setup are met. Anyone who follows the development of events will be sincerely grateful for a like. Just for the work done. I wish everyone who reads this success and prosperity. Anyone who follows the development of events will be sincerely grateful for a like. Just for the work done. I wish everyone who reads th is success and prosperity. Sometimes you win/sometimes you learn. #Bitcoin
Long
by WVitalievich
2
#Bitcoin - thoughts out loud #13Good evening, we are from Ukraine! Dear colleagues, I am glad to welcome you! I like the situation with this instrument because it is schematically similar to the distribution phase, but there is one thing: the distribution is false and a significant markup of up to 35,000 is likely to be expected in the near future. I may be wrong, but this is my subjective vision, my thoughts out loud. It's also worth keeping a short-case scenario in mind. Good luck to everyone, all the best. Thank you all for your attention, I wish you success. Sometimes you win/sometimes you learn. #Bitcoin
Long
by WVitalievich
A new lost decade of stagflation is comingYou better get used to working hard, because the days of easy magic fairy dust money are long gone after 40 years of mania. The following scenario is going to make wallstreet very angry and I'm sure a lot of retail investors are going to be forced to give up and start working longer hours to adapt to an expensive already inflated life that just won't lower prices anymore, while at the same time, record high interest rates have already made it much harder for everyone to access bank loans and 0% credit cards. From Japanese herbivore men to Western Men Going Their Own Way, Japan during the 80s and 90s is the textbook play for the world to follow. What is usually known as "depevelopment" is actually a 4th stage of population growth/flattening that will surely lead to a global ageing population or demographic and pension crisis in the coming years and decades. So technically, there won't be any great depression like 1929, and there won't be any hyperinflation either (except for a few failed states in Latinamerica of course), A recession is not as boring and as predictable, as an eternally long stagflation, which is the most hated but necessary scenario to push foward out of so much debt.
TVC:GOLD
by axelrodd
1