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Bitcoinprediction

BTC - tricky to tradeI'll feel more confident about a potential uptrend if we can surpass the ~67k mark, where Monday's high range lies and from which we were rejected on our first bounce. If not, we're likely to continue experiencing volatility in this zone, potentially dipping to yesterday's lows around 61.5k. The 60-59k range—a critical support zone, that should mark the end of any selling, if not we could see another big drop and flush. At this moment, we are still considering scenarios that would see us drop to the 55-48k range as it was our first thought on BTC. In crypto, saying anything is impossible isn't wise as the market is unpredictable. That's why it's crucial to avoid leverage to not get knocked out by such extreme moves. A fall to 55-48k would represent a -30% correction on BTC, which is still perceived as healthy and bullish in the long term. The best strategy now is to endure, stay patient, and hold off on selling your spot purchases until the market trends upwards again.
by stromm_by_wmc
BTC Flips Bearish, Price Plummets Below $70.5KPanic gripped the cryptocurrency market this week as Bitcoin, the world's leading digital asset, tumbled below the crucial $70,500 mark. This sharp decline was accompanied by a disheartening shift in a key technical indicator, signaling a potential bear market on the horizon. The CoinDesk Bitcoin Trend Indicator (BTI), long a trusted gauge of Bitcoin's price momentum, has delivered a devastating blow to investor confidence. After a period of bullish dominance since late February 2024, the BTI has decisively flipped into bearish territory. This shift indicates a fundamental change in market sentiment, suggesting a potential reversal of the uptrend that had propelled Bitcoin to record highs earlier this year. While the price plunge and the BTI's bearish turn are undoubtedly concerning developments, some analysts caution against hitting the panic button just yet. Intriguingly, trading volume for Bitcoin remains relatively stable, indicating that some level of investor interest persists despite the selloff. This ongoing activity suggests that the market might be undergoing a period of aggressive correction rather than a complete collapse. Several factors are likely contributing to the current bloodbath in the cryptocurrency market. Mounting regulatory concerns continue to cast a shadow over the industry, with government agencies around the world scrutinizing cryptocurrency transactions and exchanges. This heightened scrutiny is creating uncertainty and deterring some institutional investors from entering the market. Geopolitical tensions and rising inflation are also playing a role in dampening investor sentiment. As traditional markets experience volatility, investors tend to seek safer havens for their assets, and cryptocurrency often gets sidelined during these periods. Furthermore, profit-taking by short-term investors who entered the market during the recent upswing could be exacerbating the price decline. The BTI's plunge into bearish territory serves as a stark warning for Bitcoin bulls. While the indicator doesn't guarantee a prolonged downturn, it suggests a significant shift in the balance of power between buyers and sellers. The coming weeks and months will be critical in determining whether Bitcoin can reverse this bearish trend. If Bitcoin can find support and stabilize above key price points, it could potentially restore some investor confidence and pave the way for a recovery. However, if the price continues its descent and the BTI remains in bearish territory, it could signal a more extended period of decline. This scenario could lead to a significant shakeout in the cryptocurrency market, potentially weeding out weaker players and fundamentally altering the landscape. Looking beyond the immediate turmoil, some analysts believe that Bitcoin's long-term prospects remain promising. They point to the continued development of blockchain technology and the potential for wider institutional adoption as reasons for optimism. These believers argue that the current downturn presents a buying opportunity for investors with a long-term outlook, allowing them to accumulate Bitcoin at a discount. The coming weeks and months will be a test of resilience for the entire cryptocurrency market. Bitcoin, as the bellwether of the industry, will be closely watched as it navigates these turbulent waters. Whether Bitcoin can weather the storm and emerge stronger, or succumb to the pressures of the bear market, remains to be seen. One thing is certain: the cryptocurrency market is in for a wild ride.
BITSTAMP:BTCUSDShort
by bryandowningqln
Bitcoin Q2 2024 Outlook - ElaborationHello guys, today I am back with an Elaboration on my previous Q2 Outlook ↓↓↓ With halving in front of us and all the hype it brings in, I can see mostly people who think that after halving we have to go to ATHs no matter what. So I decided to bring counter points to their views with reasonings as to Why I am currently more bearish than bullish. If you are interested in Why, you should definitely keep reading. As I stated previously - " My Base Expectation for now is that this MAY(June/Q2), MAY be the worst time to become a Buyer/Bull for a prolonged period of time as we potentially already reached our TOP. That is because, as I mentioned in the Q1 Outlook: "6. - !!! New REAL Bullmarket didn't Start until Interest Rates reached their bottom rate !!! Note, this time can be different due to inflation & elevated price levels, which cause more money in rotation, but IT SHOULD NOT change base line of reverse expectations when the correct time comes -> 1. FED start cutting, 2. FED stop (is DONE) with cutting, 3. bottom Rate is found" " and to that statement, I would add today one more - 4. until FED start expanding their balance sheet/start printing money. and my position in that still has not changed - Why? Simply, nothing changed. Everything I was expecting to happen happened and Price is still doing exactly what I was expecting it to do. So no matter if there is halving or any other kind of narrative which may suggest that "if you don't jump in right now, you lose your opportunity", I will still stick with what in my opinion are real moving forces behind the markets - current economic environment and Central Banks agendas. So, this is what happend in our prior case: I believe the most important part of the whole process is the MONEY PRINTING PART (4b). Today we have not even reached the Cutting process (1) yet. Some may say, that it should be a point for bull case scenario and I would agree. As I said, we may see a price rally until Cutting starts. BUT I believe we need to pay attention as well to What happened before this process starts. If you break the chart down, you would see that the Price Topped & dropped Before Cutting started, in expectation of it happening. And that is exactly where we may be Today! I am not saying it has to happen the same as it did in our prior case, BUT I believe everyone should pay more attention to it. If you look closer at the chart, you can see that when Price starts to elevate, most of the time it takes Inflation with it. That is exactly opossum of what the is FED trying to achieve because it could bring even more pressure on the FED in their decision making. Potentially it could cause a scenario in which we have still High Interest Rates but FED is unable to print money due to High inflation. That could cause a fear of recession or recession scare which is terrible for markets price wise, but it is as well a great buying opportunity at the same time. So, until there is some significant development in the areas I mentioned, I would suggest to everyone to stay cautious! Hopefully, this elaboration was helpful for some of you in further market navigation. If YES, please consider liking or sharing this post, it would mean a lot to me. Also, if you are interested in more updates or you would like to receive more predictions with lower time frame updates daily, let me know in the comments or DM. Best Regards, Joe
INDEX:BTCUSD
by cryptocapitaltrading
Bitcoin Double Bottom & Falling WedgeBitcoin is forming a double bottom and a falling wedge formation this could indicate an extremely bullish scenario where we see bitcoin fly past $73,000 Take caution when executing the trade as a Triple top formation can also lead to a bearish case leading us straight to $58,000 or $59,000 on the low end Bullish Case is 90% Scenario Bearish Case is at 10% I've opened a long position on ByBit we'll see in the coming weeks but i do see us in extremely bullish territory! Using Technical Indicators i was able to spot a Double Bottom and a falling Wedge Pattern
BITSTAMP:BTCUSDLong
by aironwinds
1
Bitcoin Looks for ONE MORE Possible Chance to BUY THE DIP!! Remember to Like, Comment, & Follow for more in-depth analysis! Share with your friends! The greatest compliment one can give is a referral I've seen too many doom and gloom posts for Bitcoin, and there are macro and micro bullish patterns being layered with more bullish patterns as we get closer to the Havening. Bitcoin is in a descending parallel channel, but it is not a bearish distribution. The distribution is bullish due to the top of the channel being tested already 4 different times, and the bottom side of the channel has only been tested once. The more times a support or resistance level is tested, the weaker it becomes. Bitcoin has also created a macro inverse head and shoulders pattern, and each shoulder and the head of that inverse head and shoulders pattern is its own inverse head and shoulders pattern. The most bullish bottoming pattern in trading was just created 4 times to create the bullish support in the 60k - 73K range. This range includes the bullish double top that was made in 2021, plus now, this inverse head and shoulders pattern is made up of an inverse head and shoulder pattern in each of the shoulders and the head. We are now Even though we did not break out off the inverse head and shoulders pattern, we will continue to cool off indicators with another drop down to the 65K level, or potentially the 59.7k level. The only reason that we would drop down that far again after creating the bullish pattern we just made would be the fetish Bitcoin has with needing to hit the .618 Fib retracement level. The .618 Fib retracement level sits at 59.7k. The head of the inverse head and shoulders wicks down under the .55 fib retracement but never reaches the .618 fib retracement level. Since we are in a descending parallel channel, it would allow it to hit that .618 Fib retracement level now while staying within this parallel channel. Another bullish pattern bitcoin has made, is the macro bull flag. We had a major run-up, from 38.5k, where volume increase was consistent and noticeable, and we topped out at 73.5k (about +93% upward). Just by extrapolating the percentage move and estimating where the second pole moves from the bull flag would finish. More importantly, it would be important to know where the starting point for the next runup is. It would be starting from the 59.7k (.618 fib retracement level) and then extrapolating +93% upward would put us at about $115k (which also is the 1.618 Fib Extension Level). Another pattern I see that can occur is, as I said previously, we technically have not bounced off the .618 Fib Retracement level ($59.7k), which is the bounce point Bitcoin has a fetish for to be able to start another bullish move upward. Currently, we sit in a position where we are 2 weeks away from the Bitcoin Halvening, which is the catalyst that starts the new Bitcoin Bull Market, where we make a parabolic move. There are at least 10 different bullish confluences of support within the range of $60k- FWB:73K , and the only bearish confluence is that the top side of the descending parallel channel we have has held any breakout above it from happening. The move that I am possibly watching for would be one that lands us just shy of the $100k milestone. The move would look possibly something like this, where the only way I could see this bullish confluence zone could become more BULLISH would be to make an eve & eve double bottom and create the second bottom with another inverse head and shoulders pattern. We would then break out to $73.5k peak and then around the same time as the halvening, we would look to break the peak and then use the .55 Fib Ext.Level and .5 FIb Ext Level to create a Bullish W-Breakout Pattern with making both bottoms re-test the previous peak of $73.5k. After re-testing both times, holding support above that previous peak, We would launch to the .618 Fib Ext Level, possibly re-test the top of the W breakout we just made, and then after, we would take a launch at the 1 Fib Ext. Level that sits at $93.8k. Major key points would be: -Drop to the .618 Fib Retracement level ($59.7k) -Breakout bounce up to the .5 Fib Extension ($76.1k) or the .55 Fib Extension ($77.9k) of which breaks out $73.5k peak -Minor Correction from the .55 Fib Ext and the .5 Fib Ext level down to re-test the $73.5k peak to create a Bullish W breakout pattern -Breakout to either .618 Fib Ext ($80.3k) or the 1 Fib Ext ($93.5K) Let me know what you think in the comments below! Which pattern do you see playing out? 1. Run-up to $115k 2. Run-up to $94k
CRYPTO:BTCUSDLong
by Gamblers_Paradise
Bitcoin Cools Off After Flirting with Overheated Futures MarketThe Bitcoin market appears to be taking a breather after a period of intense activity in the futures market. Recent data indicates a decline in Bitcoin's open interest, a metric that reflects the total amount of outstanding futures contracts. This development comes after concerns arose about the futures market potentially overheating, which could lead to increased volatility. Open Interest and the Overheating Signal Open interest essentially measures the level of leverage traders are using in the Bitcoin futures market. When open interest rises significantly, it suggests that traders are placing more bets on the future price of Bitcoin, often using borrowed capital to magnify potential returns (and losses). This increased leverage can amplify price movements, leading to sharp swings in both directions. Analysts observed a surge in Bitcoin's open interest in recent weeks, raising concerns about the market overheating. This situation has historically been a precursor to increased volatility, as seen in the lead-up to the FTX crash in November 2022 and the price correction in June-August 2022. Both instances coincided with periods of elevated open interest. The Recent Cool Down Fortunately, recent data shows a notable decrease in Bitcoin's open interest. This suggests that traders might be unwinding their leveraged positions, potentially reducing the risk of a sudden and dramatic price movement. This development is seen as a positive sign for the current Bitcoin rally, particularly by bulls (investors who believe the price will continue to rise). The Battle for $65,000 Despite the cooling off in the futures market, the price of Bitcoin itself remains locked in a battle for the crucial $65,000 resistance level. Breaking above this level could signal a continuation of the current uptrend. However, bulls still face challenges. Technical Indicators: EMAs and RSI Analysts like Skew emphasize the importance of Bitcoin price action maintaining certain technical indicators. These indicators provide clues about potential future price movements based on historical price trends. Two key indicators to watch are the exponential moving averages (EMAs) on both the 4-hour and daily timeframes. EMAs smooth out price fluctuations and highlight the underlying trend. If the price can stay above these key EMAs, it bolsters the bullish case. Another indicator to monitor is the Relative Strength Index (RSI). The RSI measures the momentum behind price movements and indicates potential overbought or oversold conditions. For the current uptrend to continue, the RSI needs to return above the central level of 50, suggesting a return to positive momentum. Conclusion The decline in Bitcoin's open interest offers a sigh of relief for those concerned about excessive leverage in the futures market. However, the price battle for $65,000 continues. Keeping an eye on technical indicators like EMAs and RSI will be crucial in gauging the strength of the current rally and potential future price movements.
BITSTAMP:BTCUSD
by bryandowningqln
Hong Kong Approves Spot Bitcoin ETFThe Hong Kong Securities and Futures Commission (SFC) has granted approval for the first spot Bitcoin exchange-traded fund (ETF) in the city. The ETF will be managed by China Asset Management (Hong Kong) and several other applicants. According to reports, China Asset Management (Hong Kong) will partner with OSL Digital Securities and BOC International Prudential Trusteeship to issue spot Bitcoin and Ether ETFs. The SFC has confirmed the reports with an official announcement as of 05:30 a.m. ET. The approval of the spot Bitcoin ETF has boosted the price of Bitcoin to over US$66,500, signaling growth in cryptocurrency investment. The ETF is expected to provide direct access to Bitcoin's market value, and in turn, bolster Hong Kong's status as a premier destination for cryptocurrency trading and investment. Additionally, the launch of the spot Bitcoin ETF is projected to generate up to US$25 billion in demand by offering traders in China more straightforward access to digital assets. The mining difficulty adjustment for the Bitcoin blockchain, known as the Bitcoin Halving, is scheduled to occur on April 20, according to the Nicehash countdown tracker. The halving event occurs when the reward for miners is cut in half, which is expected to reduce the volume of BTC in circulation. The supply dynamics may influence the asset's price, and as seen in previous halving cycles, Bitcoin price hits new all-time highs within 12-18 months post the halving. The recent approval of the Spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) has opened the gates to institutional investment in CRYPTOCAP:BTC resulting in higher participation from traders in the weeks leading up to the halving. In a February research note, JP Morgan wrote that "The 2024 bitcoin halving event is more than priced in on our calculations," as reported in Barron's. At the time of writing, Bitcoin price is $64,599 on Coinmarketcap.
BINANCE:BTCUSDLong
by DEXWireNews
BTC Bullish 24 Hours ☀️ ; Bearish Trends In the Medium-Term ☁️The cryptocurrency trend was negative over the weekend as tensions escalated in the Middle East. “Predictable unpredictability is the new normal… For markets in the short term, this should lead to position reduction,” Handelsbanken wrote in its daily note. The price of Bitcoin fell to a low of $61,078 on Saturday. This market volatility led to liquidations of mainly long positions exceeding $1.6 billion on Friday and Saturday. Bitcoin has since somewhat recovered and is now up 1.3 percent to $65,111 over the past 24 hours. Another factor that will impact the crypto universe over the coming week is Bitcoin’s halving. “While positive in the long term, the halving could cause mild short-term turbulence due to block production slowdowns,” K33 Research writes. Bitcoin's halving is set to happen on Saturday. A bullish sun ☀️ shines over the global crypto market in the next 24 hours, signaling upside potential across the board, as cryptocurrencies rebound following the weekend’s selloff. Over a one-week horizon, the sunny trading conditions should prevail over most of the crypto universe. 🌤️ However, ATTMO indicates that Bitcoin, Uniswap and Avalanche will face bearish clouds, which means downside risks ahead over this medium-term time horizon. Follow us for more daily news and crypto weather news!
BITSTAMP:BTCUSD
by ATTMO
BITCOIN is preparing for an ATH update. What happens next?The time has come when all the investors who bought bitcoin at $69,000 will be able to sleep peacefully. But what will happen after the historical high is updated? To begin with, there is a good chance that bitcoin will continue to grow without correction or even consolidation. The result will be a renewal of historical highs. This is evidenced by the dominance of USDT, which shows the prospect of a drop to 3.7-3.9%: In addition, the focus on bitcoin is further confirmed by the growth of its dominance: After updating the historical highs, we expect a sharp impulse to fall in the range of $57700-60000. If the upward wave is not complete, the BTC price should not fall and consolidate below this range. For us, the range of $57700-60000 is a critical point for determining a new medium-term trend in the market. If buyers hold this range, we will consider a long position in altcoins in the medium term. If the BTC price breaks through this range without any problems and stops in the range of 50000-52000 , we will look for entries into short positions during a new local growth wave: Another question is what will happen to altcoins at this time ! However, this is another story. First, let's see how this forecast will work out.
Long
by P_S_trade
81
Will BTC play ball or play us?This is my first post so go easy on me. Presently, Bitcoin is poised at the cusp of intersecting the ascending trend line (depicted in blue) which serves as a pivotal determinant signaling the prevailing bullish sentiment, indicating a potential upward trajectory or a lateral movement known as consolidation, typical during accumulation phases. The forthcoming Halving event on April 20th, 2024, marked by the red line, is anticipated to catalyze significant momentum, potentially propelling Bitcoin's valuation to surge by up to 50%, with a plausible ascent towards the $90,000 price threshold, contingent upon favorable market conditions. Are you guys feeling scenario 1 or scenario 2? Let me know in the comments!
by Emibbx
1
BTC | MT Short H4|Consolidation Period Pair: BTCUSDT Timeframe: H4 Direction: Short Technical Confluences for Trade: - Stochastic momentum is close to Overbought Conditions - Price action close to few Horizontal and Resistance Trendlines - Aiming for the 1st 23.6% Fibo Retracement Fundamental Confluences for Trade: - There is a large diversion between the positioning of Long-Term & Short-Term Participants in the futures space. A squeeze may happen. Suggested Trade: Entry @ Area of Interest 70,700 - 71,200 SL @ 72,685 TP 1 @ 68,600 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 65,700 Risk-to-Reward @ Approx. 3.19(Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
BINANCE:BTCUSDShort
by weekendanalyst
Bitcoin BTC price starts a pre-halving correction?On April 1, the BTCUSDT price started with a "humorous" correction. In general, April promises to be quite interesting and provide "many answers." During the likely long-awaited correction, it will be necessary to closely monitor such indicators as BTC.D and USDT.D: - It will be possible to trace where the capital that previously entered the cryptocurrency market through the purchase of BTC by large players is flowing. - It will be possible to track which "industry's" altcoins are best held and bribed. Do you think there is something more interesting to invest in the cryptocurrency market than various memecoins?) And on April 19, 2024, the long-awaited "BTC halving" is to take place. The halving of the reward for a mined block from 6.25BTC to 3.25BTC will reduce the supply on the market in the medium and long term. If we compare the growth dynamics of the BTCUSD price in 2024, we will see that it is more similar to 2021 than to the previous years when halving took place - 2020 and 2016. What are your goals for the Bitcoin price movement in April 2024? We would like to see a correction at least to $65 thousand, or even better, a drop in the BTCUSDT price $58400-59100 But there is also the $78000 mark, which would also be good to test for strength, the only question is when) _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
23
Bitcoin moment of Truth (Weekly Analysis)And the big question atm is... Who will win this Resistance level zone?!?!?🤔🤔🤔 Bulls?!? Bears?!?! - RSI overbought and crossing downwards - Momentum crossing downwards as well Breaking upwards of this Resistance box my target is between $85K & $95K Breaking downwards there are 2 support zones to consider for a bounce 1- $51.6K & GETTEX:48K 2- $42.8K & $38.7K With all said we all know BTC is different beast. Always wait for breakouts or scalp LTF.
BITSTAMP:BTCUSD
by sailortrades