#Bitcoin - thoughts out loud #09Good evening, we are from Ukraine!
For further upward movement, you need to test the buyer plus withdraw liquidity.
Current action plan.
Do you agree with this development?
Thank you all for your attention, I wish you success.
Sometimes you win /sometimes you learn .
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Bitcoinmarkets
Bitcoin(BTC/USD) Daily Chart Analysis For Week of July 7, 2023Technical Analysis and Outlook:
This week, the coin retested our Mean Sup 29900 and is currently fluctuating unpredictably. The price will likely go up to finish Outer Coin Rally 31700, but there's also a chance it will drop significantly to Mean Sup 28700 before recovering.
bitcoin short idea hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
WHALES WILL GIVE BTC UNEXPECTED $32.8K BREAKOUTAfter the previous update where BTC did start from 25K and successfully reached the projected target of 31K as shown in the following link:
The same update we did share it before with breakout expecting from 25K to 31K.
Considering the technical view and the pattern structure, it is highly likely that BTC may experience an unexpected breakout to $32.8K, which is a significant level.
At this moment, based on our market view, there is no reason to expect a confirmed breakdown.
Our strategy is to monitor volume and structural increases, paying close attention to important volumes that influence market breakouts and breakdown trends.
In trading, it is important to understand that not every breakdown or increase is a confirmed one. It is a game influenced by whale activity, following the appropriate cycle based on technical analysis and market trends.
we expect with this update that there is a high chance BTC is going to enter a new whale increase that will bring the trend to 32.8 level, at the same time a very important level for the coming trend.
Most of the time whales want to get the right LIQ volume to enter with a breakout.
check the history of BTC and you will find many levels of this.
Please note that this information is not trading advice, and it is always recommended to conduct your own research.
Crypto Total Cap w/ BTC & ETH Adj Realized CapIn this quick idea we have a look at the total crypto market cap with BTC & ETH adjusted realized cap overlayed in the main pane. This chart uses both market and on-chain data.
Total Crypto Market Cap:
The red/green bars displayed
BTC
BTC Adjusted Realized Cap: The light gray line.
BTC Adjusted Market Top Projection: The light red line.
BTC Adjusted Realized Base: The orange line.
ETH
ETH Adjusted Realized Cap: The dark gray line.
ETH Adjusted Market Top Projection: The dark red line.
ETH Adjusted Realized Base: The yellow line.
Below the main pain we have the DB ZPS RSI (length 2) for the total market cap on a 4 month timeframe which shows the overall crypto market cycle.
On the bottom pain we have the DB ZPS RSI (length 2) for the total market cap on a monthly timeframe which shows the local cycles.
The aim of this idea is to show a clear picture of the total crypto cap with comparison to BTC and ETH realized cap timeframes. IMO this chart is interesting as it shows the cap cycles and displays the BTC to ETH cap and tops.
I hope ya'll find it useful! Cheers!
bitcoin prediction- I said I would take a short position if B rebounds near 31,000.
- Currently, B has rebounded more than expected due to the expansion flat,
and now only a drop towards Z remains.
- There is a possibility that Z could drop to 28,850,
which is 161.8% of the length of W.
My perspective remains the same.
Pigeon has taken a position in $SDIG Stronghold Digital Mining This is the one miner that has lagged against all others and I believe it's time is coming. Chart looks good momentum is behind it. During June 2023 SDIG energized the 2,000 Avalon 1346 mining rigs. They have a goal getting to 4eh/s by the third quarter of 2023. SDIG is extremally small compared to competition and considering it has revenue above its marketcap.
BTC LONGBitcoin Update:
Bitcoin's upward trajectory persists, and we have observed a pattern on our chart that suggests the potential for further growth. It is crucial to stay connected and keep an eye on our channel, which is pinned at the top, to receive the latest updates and insights regarding #BTC/USDT. The market is showing promising signs, and we are committed to providing you with valuable information to navigate this exciting journey. Stay tuned for more!
bitcoin prediction-The final Z-wave could be near 28855, which is 161.8% of the length of the W-wave.
-The current decline could occur as quickly as today or take up to 5 days to unfold.
-Taking into account the possibility of a B rebound up to around 31k,
one could consider holding back and potentially shorting near that level.
Bitcoin ETF and price after launchOn a chart I can't zoom out to show you 2 etf in 2013/14 but they are included in list. This is how price react in next few days, how price react in general after a few month you can see on a chart also!
BITSTAMP:BTCUSD
Sep 25, 2013 - The Grayscale Investment Trust ETF / -31%
Sep 30, 2014 - ARK Next Generation Internet ETF / -61%
Feb 18, 2021 - Purpose Bitcoin ETF (BTCC) / +14%
Feb 19, 2021 - Evolve Bitcoin ETF (EBIT) / -23%
Apr 20, 2021 - CI Galaxy Ethereum ETF (ETHXF) / -17%
May 11, 2021 - Bitwise Crypto Industry Innovators ETF / - 47%
May 24, 2021 - Simplify US Equity PLUS GBTC ETF / -13%
July 28, 2021 - Bitcoin Strategy ProFund Investor BTCFX / -6%
Sep 20, 2021 - First Trust SkyBridge Crypto Industry and Digital Economy ETF / + 60%
Oct 07, 2021 - Invesco Alerian Galaxy Crypto Economy ETF / +28%
Oct 07, 2021 - Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF / +28%
Oct 19, 2021 - ProShares Bitcoin Strategy ETF / -12%
Oct 22, 2021 - Valkyrie Bitcoin Strategy ETF / -11%
Nov 15, 2021 - VanEck Bitcoin Strategy ETF / -35%
Nov 15, 2021 - Global X Blockchain & Bitcoin Strategy ETF / -35%
Feb 07, 2022 - Valkyrie Bitcoin Miners ETF /
Apr 27, 2022 - AdvisorShares Managed Bitcoin Strategy ETF / -35%
June 21, 2022 - ProShares Short Bitcoin ETF / -10%
Sep 15, 2022 - Hashdex Bitcoin Futures ETF / -10%
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✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
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Bitcoin -> Make It Or Break ItHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin is once again retesting major previous weekly resistance from which we saw a quite harsh rejection towards the downside at the $31.000 level.
However you can also see that weekly market structure is still very bullish, Bitcoin is still creating higher highs and higher lows and there is always a higher chance that momentum continues so I am now just waiting for a clean break above the resistance and then I do expect another bullish rally.
On the daily timeframe you can see that Bitcoin is currently not able to break above the strong resistance level so we might see another retest of the $29.500 strong support zone and then I do expect a bullish rejection away from the support area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Bitcoin Falling WedgeBitcoin, which ran from $16300 levels to $25000 at the beginning of 2023, made the same run from $20200 to $30900 in March 2023.
The landscape that emerges after two runs is seen as a descending wedge.
It has confirmed that there is a new descending wedge formation when it returns from the $25000 level.
If the wedge is broken up, if it repeats its old patterns, we can see at least $36000 levels.
BTC : Long($50,506) or short(17000) ?Technical Analysis:
Bearish Analysis:
Price is currently within a 3-day supply zone. If it breaks below $29,786.90, I expect a bearish trend with targets at $25,214 and around $17,000.
Bullish Analysis:
A bullish breakout occurs if the price surpasses the current supply zone, starting at $31,037. Targets for bullish momentum are $50,506 and $64,965.
Personal Perspective:
I personally anticipate a bearish move towards $17,000 based on trend analysis.
Feedback and Updates:
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Disclaimer : Please remember to consider the timeframe associated with each analysis to avoid any potential misinformation. It's important to note that all predictions I share are for my personal reference and educational purposes only. Any trades inspired by my ideas, whether posted earlier, today, or in the future, involve financial risk for which I will not be held accountable. Thank you for your understanding.
5 REASONS why BlackRock will make Bitcoin Rally!Last week, we had a huge development for crypto investors.
Bitcoin really rallied…
And the price rise, was largely based on BlackRock's application to establish a US Bitcoin Exchange-Traded Fund (ETF).
BlackRock, Inc. is an American multinational investment management corporation, that serves clients in over 100 countries. .
It is one of the world's largest asset managers with assets approximately worth over $9 trillion.
Now BlackRock has a great track record when it comes to filing Exchange Traded Products (ETPs).
They have had 575 successful applications out of 576 attempts.
Now that BlackRock has applied for a US Bitcoin ETF, there are a couple of reasons why this could help boost the price and the value of Bitcoin.
1. It Boosts Bitcoin’s credibility
An ETF application from a company as respected as BlackRock is definitely going to provide even more legitimacy and credibility to Bitcoin as an investment.
This will attract more investors, institutions and companies to invest in the Bitcoin ETF, which will push the price up.
2. Easier to access Bitcoin
If BlackRock’s Bitcoin ETF is approved, this is going to make it easier for both institutional and retail investors to gain exposure to Bitcoin.
And they’ll be able to gain exposure to the coin without even needing to buy, store, and secure the cryptocurrency themselves.
People prefer to trust trusts, right?
Moving on…
3. More volume and liquidity for Bitcoin
BlackRock will open the gates of even more volume for Bitcoin.
In fact, the Bitcoin ETF would increase Bitcoin's liquidity by getting more participants to trade the asset.
And when there’s more volume, demand and buying – we can expect higher prices for the underlying coin.
4. FOMO for other firms
You realise that this will set a huge precedent for other trusts and firms.
BlackRock's move could encourage other financial institutions to adopt and create their own similar Bitcoin products into their own financial systems.
5. More trust for Bitcoin
I know this is a double-edged sword argument.
But I believe Bitcoin should be regulated under legitimate and transparent authorities.
Last year we saw how many cryptocurrencies buckled under low management.
We saw how many firms were laundering people’s money and faking their own accounts to make them seem profitable.
So, we tested the unregulated and decentralised system – and it failed horribly.
With this Bitcoin ETF being adopted into BlackRock, we’ll see it being reviewed and looked over by the right authorities like the SEC.
This will help provide a better safeguard for investors and will boost confidence in the asset.
bitcoin prediction
1. Currently, the completion of a three-wave pattern is evident,
and it appears that the correction of the fourth wave is underway.
2. In the ABC correction, the C wave is in progress,
and it is anticipated that the final downward wave will begin around 30760.
3. Short position near the 61.8% correction zone around 30760.
4. Long position in the 1:1.13 length range near 29863-29709.
Bitcoins Next Price TargetBitcoins next price target, before some more meaningful resistance, is likely to be in the range of 35.7k - 36.8k.
Their is confluence of fib levels in this range. The 0.382 fib level measured from the all time high to the bear market low, and the golden pocket level (0.618 - 0.65 fib level) measured from the next macro high during the bear market to the bear market low.
We also see a bigger spike on the VPVR (Volume Profile) becoming active at this target. More volume was previously traded at this target level and these areas on the VPVR can act as support or resistance levels. This level is marked out with the white dotted line and it lines up with the 0.382 fib and the 0.618 fib.
We can also do an AB = CD pattern to calculate a measured move. This is useful when a move is made to the upside (in this case) and then corrects back to the 0.5 Fib (corrects 50% of that initial move). The measured move is then the same length as that initial move to the upside but starting at that 0.5 FIb level.
This is shown with the initial move being from 19.6k - 31k (first white dotted line). We then corrected back to 24.8k (50% of the initial move). The measured move from 24.8k (second white dotted line) is the same length as the initial move giving us a target of 36.3k. This is in line with those fib levels and the spike on the VPVR.
When their is confluence among different indicators it increases the likely hood of being a key level.