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Bitcoin's Crucial Intraday Chart: $60K Breakout Looming?Intraday Chart: The intraday chart will play a major role today. 1. A bearish break-out below $60,239 results in a dip towards $58,624 and lower to $56,698. 2. Re-claiming $61,742 is what we need today as it will decrease risk of downside in the daily and weekly charts and likely to lead to $63,245. 3. Similar to yesterday, a slow and choppy consolidation above $60,239 remains a possibility for today, even though I expect some volatility as a result of the weekly transition. Daily Chart: There is no change in the price action for Bitcoin since yesterday, as it continue to consolidate below the key support zone around $61,671. The weekly candle closure today below $61,263 is not ideal as it will increase odds for the downside move in the coming week(s) to re-test the zone around weekly support $54,759. Below $61,671, Bitcoin is technically bearish and sustained price action below this level results in a downward move towards $58,947 and, if broken to the downside, to $54,000-$55,000 zone.
by Trade-Lean
Don't Expect a Get-Rich-Quick Scheme with Spot Bitcoin ETFsDon't Expect a Get-Rich-Quick Scheme: Spot Bitcoin ETFs and Long-Term Strategy The recent approval of 11 spot Bitcoin ETFs by the SEC in January 2024 sent ripples of excitement through the cryptocurrency community. Many envisioned a meteoric rise in Bitcoin's price, fueled by a sudden influx of institutional capital. However, a month later, reality presents a more nuanced picture. This lack of immediate price explosion shouldn't disappoint long-term investors. While the short-term impact may be muted, spot Bitcoin ETFs represent a significant step forward for cryptocurrency adoption. Here's why the initial price bump might not be the most important indicator: Gradual Embrace by Institutions: Institutional investors are known for their cautious approach. While some might have dipped their toes into the market with the ETF launch, others will likely take a more measured approach. These investors will meticulously analyze the market and strategically allocate funds over time. This gradual adoption will likely lead to a steadier, more sustainable price increase in the long run. Regulation Breeds Trust: The SEC's approval signifies a growing level of comfort with Bitcoin from a regulatory standpoint. This newfound legitimacy fosters trust among institutional investors who were previously hesitant due to the perceived risk associated with the unregulated nature of the crypto market. Increased trust paves the way for long-term, reliable investment. Building the Infrastructure: Spot Bitcoin ETFs represent a critical step in building a robust infrastructure for Bitcoin trading. These investment vehicles offer a familiar and regulated framework for institutions accustomed to traditional markets. This improved infrastructure will attract a wider pool of investors over time, driving long-term price appreciation. These factors highlight the importance of looking beyond the short-term price fluctuations. Spot Bitcoin ETFs offer a secure, regulated entry point for institutional investors, fostering trust and laying the groundwork for sustained growth. Beyond the Hype: A Long-Term Play The crypto market is known for its volatility, and short-term price movements can be unpredictable. Focusing solely on immediate gains can lead to impulsive decisions and missed opportunities. Investors should instead focus on the long-term implications of spot Bitcoin ETFs. These instruments represent a crucial piece of the puzzle for mainstream adoption. They provide a gateway for institutional capital, leading to a more mature and robust cryptocurrency market. The true impact of these ETFs will likely unfold over a longer timeframe. As the infrastructure matures and institutional adoption broadens, we can expect to see a more stable and potentially significant price appreciation in the years to come. Spot Bitcoin ETFs represent a marathon, not a sprint, for investors seeking long-term value in the cryptocurrency market. Remember: Don't chase quick gains based solely on the launch of spot Bitcoin ETFs. This is a long-term play with the potential to reshape the future of the cryptocurrency landscape.
BITSTAMP:BTCUSD
by bryandowningqln
Bitcoin Intraday Shake-Up: Crucial Levels to Watch!Intraday Chart: The intraday chart could save Bitcoin as long as it is trading above $60,239. 1. A bearish break-out and a sustained price action below $60,239 results in dip towards $58,624 and, if broken to the downside, lower to $56,698. Re-claiming $61,742 will be ideal, as it will decrease risk of downside and likely to lead to $63,245. A slow and choppy consolidation in the tight range above $60,239 is also a possibility due to a thin weekend liquidity. Daily Chart: Yesterday, Bitcoin gave up all gains from Thursday and closed strongly bearish below $61,671, key support zone, and below 100MA. A sustained price action in this location is bad for BTC and it has to recover to above $61,671, as soon as possible. Below $61,671 is the bearish territory and a re-test of $61,671 today followed by a strong rejection will lead to a downward move towards $58,947 and, if broken to the downside, to $54,000-$55,000 zone. A price recovery to above $61,671 is needed today or tomorrow for BTC to move towards $63,245. Find more details in signature!
by Trade-Lean
Has the Bitcoin Market Become More Manipulated After ETFs? The long-awaited approval of a Bitcoin exchange-traded fund (ETF) in late 2023 undoubtedly marked a turning point for the cryptocurrency. However, with this institutional influx, concerns regarding increased market manipulation have also surfaced. Let's delve into whether these concerns hold water and what the future might hold for Bitcoin's volatility. Pre-ETF Era: A Wild West of Wash Trading Market manipulation in Bitcoin wasn't exactly a new phenomenon before ETFs. Wash trading, a tactic where investors buy and sell the same asset repeatedly to inflate its trading volume, was a prevalent concern. This created an illusion of high demand, enticing others to invest and driving prices up artificially. Mark Cuban, a prominent crypto investor, even predicted wash trading as the "next possible implosion" for the industry in early 2023 . The Double-Edged Sword of Institutional Investors The arrival of big players with the ETF has undeniably brought more regulation and scrutiny to the market. This, in theory, should deter blatant manipulation tactics. However, the sheer volume these institutions trade with can also influence prices significantly. The question isn't whether they manipulate, but rather how their trading strategies might unintentionally impact market behavior. A Glimpse into the Recent Controversy A recent Wall Street Journal report alleging that Binance, a major cryptocurrency exchange, fired an investigator uncovering market manipulation by a VIP client reignited concerns . This incident highlights the potential conflicts that can arise when profit margins clash with regulatory compliance. So, Has Manipulation Increased? The answer is complex. While blatant wash trading might be less prevalent, the impact of institutional trading volume and potential conflicts within exchanges are new considerations. It's likely that the nature of manipulation has evolved, becoming more subtle and potentially harder to detect. A Future of Stability or Stagnation? The influx of institutional investors could indeed lead to a more stable Bitcoin market, mirroring traditional stock indices. This would be a far cry from the explosive, volatile growth Bitcoin has seen in the past. However, this stability might also come at the cost of reduced returns for investors hoping for another Bitcoin boom. The Long Hodler's Perspective As a large language model, I can't claim to be a "hodler" (long-term Bitcoin holder). However, historical data suggests that Bitcoin has weathered similar periods of regulation and scrutiny before. The key takeaway is that despite potential manipulation, Bitcoin's underlying technology and its core value proposition as a decentralized currency still hold significant appeal. The Road Ahead The future of Bitcoin manipulation hinges on two key factors: 1. Regulatory Strength: Stronger regulations with clear guidelines and robust enforcement mechanisms are crucial to deter future manipulation attempts. 2. Transparency on Exchanges: Exchanges need to be more transparent about their trading practices and address potential conflicts of interest. Conclusion Whether Bitcoin morphs into a stable, institutionalized asset or maintains its volatile character remains to be seen. However, the fight against manipulation, regardless of its form, will be critical in ensuring a fair and healthy Bitcoin market for all participants.
BITSTAMP:BTCUSDEducation
by bryandowningqln
1
75: Assessing Bitcoin's Weakening, Exploring Strategic OptionsAs we closely monitor the current trajectory of Bitcoin, it's evident that its strength is diminishing, prompting a thoughtful examination of our strategic options. In navigating this landscape, it's imperative to remain agile and responsive to market dynamics. Should we witness a loss of the 65475 mark within the span of this week, the scenario of adopting short positions becomes a compelling consideration. This tactical move would capitalize on the prevailing bearish sentiment, potentially yielding favorable outcomes amidst downward price movements. Conversely, if the aforementioned threshold remains unbreached, our focus shifts towards discerning signs of renewed bullish vigor within the market. We eagerly anticipate indications of resurgent momentum, signaling a favorable environment for reassessing and potentially bolstering our long positions. In essence, our approach remains adaptive and nuanced, attuned to the ebb and flow of market dynamics. By remaining vigilant and responsive to emerging trends, we position ourselves to navigate the evolving landscape of Bitcoin trading with prudence and effectiveness.
CME:BTC1!Short
by Soldi75
Bitcoin Soars After Testing $60,240! Will it Break $63,250?Following CRYPOTLEAN projections to the point, BTC tested the top of $60,239 zone and we saw a bullish rejection leading the price to $63,245 resistance. 1. A dip to $61,742 followed by a strong bullish rejection can lead to a long scalp opportunity towards $63,245 and higher to $66,786. 2. A bullish break-out of $63,245 will lead to more upside towards $66,786. 3. A sustained price action below $63,245 results in a slow and choopy move towards $60,239.
by Trade-Lean
BTC on the way UP Based on the analysis of technical indicators on BTCUSDT chart, a potential price increase can be anticipated. Currently, the Money Flow Index (MFI) is at a low level, which may suggest an undervaluation and a possible trend reversal. At the same time, the Average Directional Index (ADX), which measures the strength of a trend, is showing growth, signaling a strengthening trend. The chart also displays a "bull flag" formation, generally considered as a continuation of the upward trend after a brief consolidation period. Additionally, the recent "cooling off" after the halving event (which cuts the reward for mining bitcoins in half) could be interpreted as an opportunity for accumulation before further growth. Considering these observations and a strong foundation for bullish sentiment, it is expected that the Bitcoin price could reach targets of $90,000 in the course of the year, and may rise to $135,000 to $160,000 per Bitcoin in a longer-term outlook.
Long
by Bitcoinblockchainonline
1
Is Bitcoin's Correction Over? As the Asset Rebounds to $65KAfter a deeper corrective decline, Bitcoin ( CRYPTOCAP:BTC ) bounces strongly, suggesting that the correction may be over at the ideal 38,2% Fibonacci retracement near 56k support. A bullish continuation within wave could send the price back to all-time highs towards 75k-80k area, but short-term pullbacks should be noted. Bitcoin ( CRYPTOCAP:BTC ) price has been slowly moving toward lower boundaries of range to test support, with holders with between 100 and 1000 CRYPTOCAP:BTC buying more. A falling wedge pattern suggests 20% upside potential for Bitcoin ( CRYPTOCAP:BTC ) price. However, there is a lack of participation from new traders and some holder segments continue to buy up. The market could see more grind time between established trading ranges. The BTC exchange-traded funds (ETFs) front continues to shape and accelerate price action. Wintermute, a leading global algorithmic trading firm in digital assets, has announced its strategic partnership with OSL and HashKey to provide liquidity for Hong Kong's newly-launched spot BTC and Ether ETFs. This collaboration aims to attract both institutional and retail investors by enhancing market liquidity. Bitcoin's ( CRYPTOCAP:BTC ) price is still in a falling wedge pattern the steeper the wedge, the higher the reversal which will allow buyers to step in, with the potential for a 30% rally upon successful breakout. However, momentum indicators suggest more downside before this happens, ideally before CRYPTOCAP:BTC fills the bullish reversal technical formation. The Relative Strength Index (RSI) has to accentuate this downward trend.
BINANCE:BTCUSDLong
by DEXWireNews
The future path of BitcoinAfter accurately predicting the upward movement of bitcoin from the previous year ( link ), I envision this corrective path for it, and after that I see the continuation of the upward movement and high targets for it. If the correction reaches the range of 49,000 to 50,000, we will reach oversold in weekly time and we are ready to start an upward movement. But the important support in the long term will be the range of 41,000, in this case it can be said that we have had a long-term correction and this support has the power to easily break the previous ceiling. We have a deeper support in the range of 28,000, which after reaching this support, the market will suffer a little, but from here we can imagine an upward movement. Long-term targets for Bitcoin range from 240,000 to 300,000, after which we have a time correction, then we have the final target of 1,700,000 to 2,130,000 or 2,340,000. Good luck Ali Rezaei
INDEX:BTCUSD
by Rezaei0013
2
BTC Selloff Warning: How to Buy BTC at $40k this 2024 before DecOver the next five months, from May to September, Bitcoin is poised to undergo what I term the "BTC after Halving effects." This phase is not only anticipated to test Bitcoin's resilience but also challenge the resolve of weak holders, as the current price is likely to experience a pullback. However, the extent of this pullback remains uncertain, especially with the introduction of ETFs into the picture. It's a scenario that hasn't been witnessed before, particularly post-halving, but the positive reaction observed in 2024 following ETF approval is encouraging. Nonetheless, given the nature of market makers and their potential to exploit post-halving effects, it's prudent to anticipate certain support levels. While the last support level is more of a worst-case scenario, it's wise to be prepared for a pullback to around $48,000. Here are the support levels to monitor, presenting buying opportunities: 1. $49,046 - $45,905 2. $40,359 - $38,722 3. $31,892 - $25,711 These support levels should be closely watched to capitalize on any potential buying opportunities. The anticipated major pump is expected to commence from October to November 2024. my post in April highlighted this warning before it all began
BINANCE:BTCUSD.PShort
by MachiavelliTrader
2
Bitcoin - Channel, Breakout and a $250.000 Target!Hello Traders and Investors, today I will take a look at Bitcoin . -------- Explanation of my video analysis: On the higher timeframes of the Bitcoin chart - symbol BTCUSD - you can immediately spot a simple rising channel formation. About a year ago, Bitcoin retested and rejected the lower support of the rising channel formation and is now retesting the previous all time highs at $65.000. If we see a breakout, the next resistance is all the way up at $250.000. -------- Keep your long term vision, Philip (BasicTrading)
BITSTAMP:BTCUSDLong
by basictradingtv
6
Market Update - 7/5/24Crypto markets have so far shown resilience after what has been an eventful week to-date. On the 1st of May we witnessed Bitcoin trade below both the March and April lows, where we then saw four consecutive days of buying resulting in a 14% rally back to $64,500 USD. 👉The next few days will be key in understanding if the bulls will continue to show up, we provide some bullish and bearish scenarios to start the week below. There is little on the economic calendar this week, however we did see a very interesting print at the end of last week for the US labour market. Fear and Greed Index currently stands at 71. US Unemployment Rate Ticks Higher Last week, the US unemployment rate slightly missed expectations, coming in at 3.9% instead of the anticipated 3.8%. It's important to understand why this matters. An increase in unemployment could hint at a broader economic slowdown. Jerome Powell, the chairman of the Federal Reserve has previously mentioned that a weakening labour market might precipitate a change to interest rates and an overall easing of conditions from the current regime. Bullish Scenario Early this week, should the bulls hold their ground at the current ranges, we could see a push to the range midpoint of $66,000 USD. Bearish Scenario Failure to see the bulls hold the market here could then see prices retesting the bottom of this channel, which was reclaimed at the start of this month. This may result in Bitcoin moving back towards $61,000 USD.
by PHundal
BTC which pathway BTC / USDT The BTC bottom is about to be formed in next few days Most likely we will retest 61k-59k zone again In order to go straight up from here we must hold above that level .. The other scenario is breaking down and and in that case we can say the bottom will be formed around one of these levels 56k - 50k or even late 40s We can see altcoins market finally have same nice pump fueled by AI coins Keep accumulating and reentering market partially and always have some free stable for upcoming opportunities
by Babenski
5
8 to 10 new price lowsHey guys and girls, Preamble: You must have a plan, (what are your targets? or where is your stop loss? or ... ) Why? because, without a plan, you tend to make decisions "emotionally" :) My vision: BTC is about to do the unthinkable. Technical Section: Pattern: Bull flag Candlestick Pattern: 8 to 10 new price lows Pattern description: bullish reversal pattern RSI ---> oversold MACD ---> Buy signal Price projections: Buy signal = $ 64700 Target 1 = $ 68000 Target 2 = $ 72000 Target 3 = $ 80000 my vision is clear now. Appendix:
BINANCE:BTCUSDLong
by BTC-XLM
2