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BTC + DXY (Convergence & Divergence + Symmetrical Triangle)Impact on Bitcoin (BTC): The DXY’s movement often has an inverse relationship with Bitcoin. A rising DXY typically exerts downward pressure on BTC, as a stronger USD reduces the appeal of alternative assets like Bitcoin. Conversely, a weakening DXY can provide a tailwind for BTC, encouraging capital flows into the cryptocurrency. Historically, the 12 EMA and 50 MA crossovers: have provided reliable signals for entering and exiting trades. As the DXY approaches the apex of its triangle, traders should watch for a breakout, which could have significant implications for Bitcoin.
BITSTAMP:BTCUSD
by alcoholic-semen-thrower
Could this be the most logical drawing ever made for #Bitcoin ?#Bitcoin 1W chart; As followers may remember, we have interpreted the Bitcoin chart from many different perspectives before, so let's look for different meanings from a different perspective; The first thing I would like to draw your attention to is the RSI signal that formed at the top of 2021 before falling. These signals are valuable for charts because they foretell that the market can't move any further in that direction. After the signal at the first top of 2021, there was a deep drop of around -50% . Fibonacci shows us here that after completing its decline in value between 0.5 and 0.618 (golden ratio value) , it started to rise again. In fact, the bear cycle started after the same mismatch on the RSI side for the second time. So we had 2 serious rises in the bull cycle in 2021. Now... What do we see after the first drop in 2021? We see that the 50 EMA (50-day moving average) yellow line was broken with a hard candle in the first place, then there were closures above and below this zone for 10 weeks , and then it experienced its second peak rise. Now let's look at the current cycle, the 2nd Fibonacci values. Here again, we can see signals on the pre-decline RSI, but they are more pronounced on the daily chart. With Bitcoin's decline, we see that it broke the 50 EMA with a hard candle pin, as it did in the previous cycle. Under normal circumstances, we should statistically expect it to rise after 10 weekly candles in total, as it did the previous time. However, there is an important point here. The Fed Rate Decision Meeting to be held on 18.09.2024 , which I indicated with a yellow vertical dash line (it appears as 16.09 because the chart is weekly) As I stated in my previous articles, I expect the first interest rate cut to be made on this date. Accordingly, after the 50 EMA is broken, we have a total of 7 weeks until the meeting date. Accordingly, if Bitcoin will come back to the Fibonacci golden ratio range as in the previous cycle, then we should expect a sharp decline from the current level because time is running out. I would like to add a footnote here; the previous Fibonacci took support from 0.618 (golden ratio) and created a balance in that region. In today's decline, it took this support at 0.5. Therefore, it may not want to see the 0.618 level. 0.5 levels point to around $48k. If you remember, in another previous Bitcoin chart I drew a Bullish harmonic pattern starting from around GETTEX:48K , you sometimes ask me if my bearish expectation is still valid. How can I be bullish when all the different perspectives I have drawn and tried to show you are all bearish. Let's come to our 3rd Fibonacci levels. I think that the highest level for #Btc in this cycle could be a level between $102k and $122k and I show you the reasons why I think so on the technical chart. You will never see any imaginary and emotionally driven odds, rockets, flaming tweets from me. I think we will leave this market on time thanks to the bearish signals that Bitcoin will show when it reaches its peak in this cycle. If you have read this far, you can support me by liking, commenting and sharing. Love ✨
by ugurtash
2
4hr EMA cross just happenedWell, well, well, look who's back! It seems you're still buzzing about that 4-hour EMA crossover for Bitcoin (BTC). You're like a dog with a bone, aren't you? So, you're saying the 4-hour EMA just crossed over for Bitcoin, and now it's going to shoot for the moon, aiming for a whopping $63,000? That's a bold prediction, my friend! 🌙🚀 Now, let's take a closer look at this astronomical target. According to the latest data, Bitcoin is currently trading around $61000. That's quite a gap to cover before reaching the $63,000 mark. But hey, who am I to crush your dreams? In the world of cryptocurrency, anything is possible. Just ask the Winklevoss twins, who once said, "Bitcoin is the new gold." And look where Bitcoin is now! So, maybe Bitcoin will be the new platinum? 💎 But let's be real here. Bitcoin would need to experience a monumental surge to reach $63,000. It would have to break through multiple resistance levels, shatter all-time highs, and probably cause a global shortage of GPUs (for mining, of course). So, while I admire your optimism, I have to say that a $63,000 Bitcoin price seems a bit far-fetched. But hey, stranger things have happened in the crypto world. Remember when Elon Musk tweeted about Dogecoin, and it skyrocketed? 🐶🚀 In conclusion, while the 4-hour EMA crossover is a significant event, it's not necessarily a guarantee of a $63,000 Bitcoin price. Keep an eye on the market, stay informed, and remember to take everything with a grain of salt (or a sprinkle of moon dust). And who knows? Maybe one day, we'll be sipping Bitcoin-flavored lattes on the moon, reminiscing about the good old days when it was just $61000. 😂
Long
by bitfate
Bitcoin Analysis | Follow-Up: Key Level & Potential TradeIn this video, I present a follow-up to my previous Bitcoin analysis, diving deep into a crucial key level. I’ll outline a potential trade scenario that could develop in the coming days and discuss why this setup is particularly interesting to me. I also explain which trading setup I prefer and why it’s the best fit for my strategy. If you find this analysis helpful, please give it a like and share your thoughts in the comments. Your support motivates me to keep creating valuable content for you!
Long
by SerenityEquity
1
BTC is filling the CME Gap. Bullish or Bearish?Hello Traders, In this video, I dive deep into the current market landscape, focusing on several key aspects that are crucial for developing our trading strategies. First, we'll discuss the CME Gap and explore how this gap might influence market movements. Next, we take a closer look at the trend direction and analyze how it has evolved in recent days and what it could mean for upcoming trading opportunities. I'll show you how to identify the trend and incorporate it into your strategy. Another essential topic we'll cover is confirmations: I'll explain how to ensure that your trade is on solid ground and how to avoid unnecessary risks. Finally, I present two different trade ideas and share my expectations for these setups. You'll learn about the scenarios I envision and how I plan to respond to various market developments. Join me as we delve into chart analysis and learn how to apply this information to your own trades!
by SerenityEquity
1
Bitcoin's Falling Wedge: A Cautious Approach The cryptocurrency market is renowned for its volatility and unpredictability. While technical analysis tools like the falling wedge pattern can offer potential insights into price trends, it's crucial to approach them with a critical eye. Even after identifying a seemingly bullish pattern, several factors warrant caution when considering Bitcoin as an investment. The Falling Wedge: A Double-Edged Sword A falling wedge is a chart pattern that indicates a potential bullish reversal. It's characterized by a narrowing price range with lower highs and higher lows. However, it's essential to remember that patterns are not foolproof predictors of future price movements. They are merely tools to help analyze market sentiment and potential trends. Moreover, the formation of a falling wedge doesn't necessarily guarantee an immediate or sustained price increase. It's possible that the price could consolidate or even decline further before breaking out. Additionally, the cryptocurrency market is influenced by a multitude of factors beyond technical analysis, including regulatory developments, macroeconomic conditions, and investor sentiment. Fundamental Risks Persist Beyond technical analysis, Bitcoin faces significant fundamental challenges. The cryptocurrency's price volatility, energy consumption concerns, and regulatory uncertainties continue to pose risks for investors. • Volatility: Bitcoin's price has historically exhibited extreme volatility, making it difficult to predict short-term movements. While this volatility can create profit opportunities, it also exposes investors to substantial losses. • Energy Consumption: The energy required to mine Bitcoin has drawn criticism for its environmental impact. Governments and regulatory bodies are increasingly scrutinizing the cryptocurrency industry, which could lead to stricter regulations or even bans. • Regulatory Uncertainty: The regulatory landscape for cryptocurrencies remains unclear in many jurisdictions. This uncertainty can create legal and operational challenges for businesses and investors alike. Alternative Investment Opportunities Considering the risks associated with Bitcoin, investors may want to explore alternative investment options. Diversification is a key principle of sound investment strategy, and allocating assets across different asset classes can help mitigate risk. • Traditional Assets: Stocks, bonds, and real estate offer more established investment avenues with potentially lower volatility and greater diversification benefits. • Other Cryptocurrencies: While the cryptocurrency market as a whole is volatile, some altcoins may present more attractive risk-reward profiles than Bitcoin. However, thorough research is essential to identify promising projects with solid fundamentals. • Emerging Technologies: Investing in companies or funds focused on emerging technologies, such as artificial intelligence, biotechnology, or clean energy, can provide exposure to high-growth sectors. Conclusion While the appearance of a falling wedge pattern on Bitcoin's weekly chart might be tempting for some investors, it's crucial to maintain a cautious approach. The cryptocurrency market is highly speculative, and past performance is not indicative of future results. By carefully considering the risks and exploring alternative investment options, investors can make more informed decisions and protect their portfolios. Ultimately, the decision to invest in Bitcoin is a personal one that should be based on individual risk tolerance, investment goals, and a thorough understanding of the cryptocurrency market. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Conducting thorough research and consulting with a financial advisor is recommended before making investment decisions.
BITSTAMP:BTCUSD
by bryandowningqln