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Bitcoin 2024 Hilarious Insights, Halving Hurdles 18k Bold ForcasBitcoin, oh dear Bitcoin, you're in a pickle! Picture this: Feb through April 2024, three months before the Bitcoin halving, and things are getting more complicated than explaining blockchain to your grandma. The Bitcoin ETF approval in January? Well, that turned out to be about as useful as a screen door on a submarine. Instead of a price boost, we've seen Bitcoin taking a nosedive from 48k to a not-so-supportive 38500. 4HR CHART OVERVIEW: Now, let's peek at the 4-hour chart. Bitcoin buyers are tap-dancing around 42k like they're in a high-stakes dance-off. Rumor has it they want to tango with 44k, maybe even attempt a daring move to 45900. But watch out, because they might trip and fall back to 40k-39400. It's like a suspenseful dance, and if they break free from the current 4-hour chart shackles at 43900, the buyers will persist. Until then, it's a riskier dance than attempting the moonwalk in roller skates. On the sellers' side, they're lingering around like they just got front-row seats to a comedy show. Despite all the dollars poured into Bitcoin ETFs, they seem to be the ultimate party poopers, unimpressed and unyielding. If buyers can't break the 43900 barrier, it's cue the bear strike – back to 40k to 39k support, and it might get so bad that even Bitcoin buyers will need a lifeline. DAILY CHART OVERVIEW: Now, let's switch to the daily chart. Buyers are halted at 43800, contemplating life decisions after bouncing back from the 38500 support pitstop. It seems market makers on BTC ETFs are more into fees than making Bitcoin holders happy. Brace yourself for a revisit to the 40k to 39400 support range, and if buyers don't bring their A-game, it's bad news. Patience is a virtue, especially if you plan to join the support party. On the sellers' daily chart, it's a saga of indifference. If buyers lose interest and the price revisits 40k to 39400, brace for impact. Breaking below 38k could be the trigger for a sell-off extravaganza, with sellers and shorters throwing a grand party, pushing the price down to the 36600 to 34k support zone. It's like a rollercoaster, and the only way to enjoy the ride is by gripping your seat tightly. WEEKLY CHART OVERVIEW: Zooming out to the weekly chart, Bitcoin buyers seem stuck in a range, as if the market has them in a headlock. The return to 43800 was a slap in the face, signaling a potential return to 40k support and a quick smooch with 39200. While there's a glimmer of hope for buyers to take Bitcoin back to the 45k to 47k range, it's like waiting for a superhero in a rom-com – you're not sure if they'll show up. Weekly sellers, on the other hand, are circling like vultures. If buyers can't hold the price above 45k by Feb to March, sellers will seize the moment, dragging Bitcoin down to the 36600 to 34k support zone. It's like a high-stakes poker game, and the chips are on the table. MONTHLY CHART OVERVIEW: Now, onto the monthly chart, where buyers are looking indecisive. Despite the approval of BTC ETF, the price is playing hard to get, avoiding the much-anticipated 50k mark. It's the first sign of weakness since Bitcoin broke above 30k in Oct 2023. Buyers might have a shot at 45k-47400, but it's like trying to catch a unicorn – a little tricky. Sellers on the monthly chart are eyeing Feb 2024 like it owes them money. If it closes as a red candle, get ready for a 3-bar reversal extravaganza. The threat of visiting the 32k to 28k range before or after halving is looming, like a dark cloud over a picnic. And now, the grand finale – the monthly chart after Halving, sellers' edition. Brace yourself for a possible flash dump, like the grand finale of a fireworks show. Will it hit 20k, or will market makers go all-in for 14k to 12k? Nobody knows, but if you're holding Bitcoin, it's like being on a rollercoaster – hands up, eyes closed, and hoping for the best. The real pump might kick in around Oct-Nov 2024, so hang in there and buy more when you can. It's like waiting for the punchline of a long joke – it better be worth it!
BINANCE:BTCUSD.P
by MachiavelliTrader
BTC - Weekly Perspective - 02/04 to 02/11We start another month with the cryptocurrency resisting staying above the 40K range as well as failing to overcome strong resistance that has lasted for a long time, the 44.9K region as found in a previous analysis. $ Let's go graphic $ The monthly bias is still upward. Current resistance: 44.9K Going to the weekly bias there are possibilities of bullish formation. Current resistance: 43.8K Coming to the daily bias, we also have resistance in the 43.8K region, as mentioned in a previous analysis. Now look at the image of the BTC hourly chart. Do we have a time zone here? Lol Do your analysis and good business. Be Aware, If Buy, US=se Stop Loss. See other BTC analyzes below.
INDEX:BTCUSD
by MacD_Bollinger
26
Bitcoin Market Cycle This chart tried to reflect the uncanny similarities between Bitcoin's previous cycles and will try to use that information to "predict" next market cycle top in terms of price and time. The price is derived using Log FIB extension 1.618 and is the minimum Bitcoin has to hit. Although Bitcoin has gone way above this extension in the past, I am going to keep things a little conservative. The chart is aimed to not use any indicators to keep it clean but you can apply Pi cycle top indicator (which has been super accurate to make it more precise) The chart shows how bottom of the previous bear market to the next one takes about 206 Weeks or so and how bear market lasts about 52-55 weeks while Bull market (from the bottom and not halving) is about 155 Weeks ish. While the drawdowns are becoming less and severe by some percentage, I chose about 75% drawdown for next bottom in 2026 with price of about mid 40K. Like someone said " All models are wrong but some are useful" this can clear some noise and provide us some timeframe when we can start taking some profits based on time and price. Over time, I will provide update to this model if I think I can make it more accurate. LFG!!
INDEX:BTCUSDLong
by AmandeepSingh2020
BITCOIN Weekly Update 05/02/2024 - 4hr breakdownHello again, so little quick cooperation on my statement : That by prolonged time of staying in highier price range without retracing down, odds are shifting to probability of going highier with time. So for better visibility I colored chart.. Now its clearly to see, that we stuck in price accumulation before unloading move.. But, its aswell clearly to see, that with time we slowly progressing highier, to our Buyside liquidity area and is unknown if we are willing to break to Highier range... Thats why for me is important FED high, which serve at this point of time as REVERSE point for me ... If I see price going above, and not willing to work to lower part of that range.. It should be "EARLY" signal, that there are increased odds of revisiting Highs from January and potentional more... Thats WHY is this idea not labeled long or short... But, if we not START to Reversing lower very soon (next 4-12 hours), odds to price pushing above 44k increasing a lot. So AGAIN, if you decide to make move and enter the trade, using STOP LOSS is a MUST! Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Feb 2, 2024Technical Analysis and Outlook: During this week's trading session, Bitcoin has been experiencing a very tight trading range. Its progress has been obstructed by our Mean Res 43200, which has been causing a significant block jam. However, the market is anticipating a strong push through the Inner Coin Rally 44200, propelling the prices towards Mean Res 47000. This move is expected to be followed by a retest of the completed Outer Coin Rally 47500, which would signify a noteworthy milestone for Bitcoin's upward momentum. In case of a downside, the coin may retest a Mean Sup 42000 before continuing its upward trend.
BITSTAMP:BTCUSD
by TradeSelecter
BTC When will the Bitcoin selloff end??I've previously mentioned in a BTC (Bitcoin) trading idea that the ETF approval would be a 'buy the rumor, sell the news' event: Now, we observe a continuation pattern with bearish divergences on the RSI. A bearish divergence is a term used in technical analysis to describe a situation where the price of an asset is moving in the opposite direction of a technical indicator. In particular, it occurs when the price of the asset is making higher highs, but a related indicator, such as the Relative Strength Index (RSI), is making lower highs. My current price target is FWB:39K , representing the next regional support.
Short
by TopgOptions
Bitcoin - Buy Buy BuyHello Traders, welcome to today's analysis of Bitcoin. -------- Explanation of my video analysis: In 2018 Bitcoin created an obvious resistance level at the $17.000 level. This was the all time high of the previous bullish cycle. In 2021 Bitcoin then broke above this structure and came back to retest it in 2022. So far Bitcoin is looking very bullish and it also just broke above another key structure mentioned in the analysis. If we get a retest I will be looking for longs. -------- I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
BITSTAMP:BTCUSD
by basictradingtv
5
Bitcoin Weekly CME Gaps 2019 - 2024Here I've highlighted all the weekly CME gaps for Bitcion, showing all but One have now filled. Technically, there's still one open just under $10,000 at / around $9750. Unlikely this will ever fill at this point, but as of today Bitcoin filled the recent gap just under $40,000, which clears Bitcoin for runing higher. However I still believe we'll re-test $38,000, followed by a bounce. And potentially, if not likely, a deeper drop to re-test $32k before the bull run ensues. Interesting chart just showing how often these do back-fill and re-test.
CME:BTC1!
by BrettFogle
Elaboration on BTC/USINTR for Q1 2024Hello everyone, in yesterday post I spoke about what do I expect for Q1 2024 moving further .. Today, I would like to elaborate in POINTS, WHY I think is necessarily to be VERY CAUTION in current Market conditions. Will be using 15D timeframe to capture as much data as possible. To get clearer picture of what is possible moving into future, we need to focus on what happend in past, even tho as ment before, market conditions are not EXTREMLY similar (due to highier inflation & interest rate!), but its closest we can get. Note, that current cutting cycle might be different for this exact reason, which could possibly mean that this process take longer and will have more pauses as in past. Aswell, bottom rate is expected to not be close to 0. For better visualisation I put cutting process into GREEN CYRCLES, marked 1-5. 1.Terminal rate 2.First cut 3.First cutting pause 4.Continuation of rate cuts 5.New Terminal rate (bottom rate) In the end of this process, PRICE came back very close to where it started Rallie and only then new Bullmarket occured. Today, I think and expect that we are only somewhere in middle between points 1 and 2 of this whole process, and that should be reason for EXTREME CAUTION. Especially if we take into account that we are in elevated price level compared to previous year. Having in mind that last time cut occured that was THE POINT when market flipped. And even tho ATHs right now are not that close, is very possible that we keep coming closer to them in next months, IF there is no change in FED policy next meeting. AND THAT WOULD BEEN A TIME FOR EXTREME CAUTION! This should stay relevant Until FED decide to Cut for the First Time. Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
Bitcoin Bullish Continuation to 50kCRYPTOCAP:BTC price has been consolidating at highs as we await the imminent ETF approval announcement. At this point a bullish pennant pattern has formed and the daily bollinger bands have tightened, signalling that we will soon see volatility that triggers a breakout. In terms of targets, the fib extension of the chart pattern says 47.3k to 49k. I am keeping in mind however that Bitcoin has never exceeded the 61.8% retracement of the previous drawdown pre-halving. Although the ETF approval announcement could make things different this time. If we exceed 50k, buckle up lads.
INDEX:BTCUSDLong
by HaydenOtto
BTC : Consolidation Patterns and Strategic Entry PointsBTC is currently trading at $42,400 within a consolidation range of $40,400 to $44,200. The major resistance is anticipated between $48,000 and $50,800. If the support at $40,400 holds, there is potential for a bullish move towards $48,000 in the coming days. The current price aligns with the 50-day Exponential Moving Average (EMA), offering a favorable risk-to-reward ratio for traders. Monitoring the $40,400 level and considering the support at the 50EMA, traders could find strategic entry points in anticipation of a potential upward trend.
BINANCE:BTCUSDLong
by ImHardik88
#Bitcoin $52k or $36k? URGENT UDPATE!! #BTC: The 50-day Simple Moving Average serves as a valuable oscillator for understanding Bitcoin's daily price action. - Bitcoin typically exhibits a movement in the range of 15% to 17% when it falls below this moving average. - This pattern has been consistently observed throughout 2023. Breakouts above this MA have yielded substantial returns, from 35% to as high as 82%, as depicted in the chart. Currently, the price is hovering around the same level. A breach below this MA could lead to a 15% correction in the market, potentially bringing the price below $40k and even touching $36k. This also aligns with 150 SMA another oscillator that shows potential reversal points during an uptrend. On the contrary, maintaining the current level could propel the price to $52k. It is essential to prepare for both scenarios. These observations are solely derived from chart analysis, and the speculation is grounded in logic and fractals. So, DYOR, NFA I would appreciate hearing your thoughts on this analysis! Feel free to share this chart with your friends!
Long
by Cryptorphic
4