NOTUSD BUYS BUYS BUYSDONALD Trump is good for the economy & crypto.
I expect other Altcoins to follow with the rise of Bitcoin and other ETFs. Bias still remains bullish for NOTUSD for long term growth.
Bitcoinprice
Is Bitcoin the Next Golden Opportunity or Foolish Gamble?Bitcoin, the world's pioneering cryptocurrency, has once again defied expectations. Recently, it surged past the symbolic $90,000 mark, solidifying its position as the eighth-largest asset globally. This unprecedented rise has sparked intense debate among investors and analysts, with many wondering if Bitcoin could potentially reach the $100,000 milestone in November.
The Factors Fueling Bitcoin's Rally
Several factors have contributed to Bitcoin's meteoric rise:
1. Institutional Adoption: Major financial institutions and corporations are increasingly recognizing Bitcoin's potential as a valuable asset class. Companies like MicroStrategy and Tesla have invested heavily in Bitcoin, signaling a shift in mainstream perception.
2. Global Economic Uncertainty: As traditional economies grapple with inflation and geopolitical tensions, investors are seeking alternative assets to diversify their portfolios. Bitcoin, with its decentralized nature and limited supply, has emerged as an attractive option.
3. Network Upgrades: Bitcoin's underlying technology, the blockchain, has undergone significant upgrades, enhancing its scalability and security. These improvements have boosted investor confidence and paved the way for further growth.
4. Positive Regulatory Sentiment: While regulatory clarity remains a challenge in many jurisdictions, there have been positive developments, such as the recent approval of Bitcoin ETFs in the United States. These regulatory milestones have reduced uncertainty and encouraged institutional investment.
The $100,000 Question: Is It Feasible?
While Bitcoin's recent performance has been extraordinary, reaching the $100,000 mark in November is a lofty goal. Several factors could influence its trajectory:
• Market Volatility: Bitcoin is known for its extreme price volatility. Sudden market corrections or negative news events could derail its upward momentum.
• Regulatory Risks: Unfavorable regulatory policies or increased scrutiny from governments could dampen investor sentiment and impact Bitcoin's price.
• Technical Challenges: Scalability issues and network congestion could hinder Bitcoin's adoption and limit its potential for growth.
Is Now a Good Time to Buy Bitcoin?
The decision to invest in Bitcoin is highly personal and depends on individual risk tolerance and financial goals. While the cryptocurrency's long-term potential is promising, it's essential to approach it with caution and consider the following:
• Diversification: Bitcoin should be part of a diversified investment portfolio. Over-allocating to a single asset, especially one as volatile as Bitcoin, can expose investors to significant risk.
• Time Horizon: Bitcoin is a long-term investment. Short-term price fluctuations should be ignored.
• Risk Tolerance: Investors should only allocate capital to Bitcoin that they can afford to lose.
• Research and Due Diligence: Before investing, it's crucial to conduct thorough research and understand the risks involved.
Conclusion
Bitcoin's recent surge has captured global attention and sparked a wave of excitement among investors. While the potential for further growth is undeniable, it's important to maintain a realistic perspective. The $100,000 milestone, while ambitious, is not entirely out of reach, but it will require a confluence of favorable factors. As always, investors should exercise prudence and make informed decisions based on their individual circumstances.
Bitcoin bears are exhausted, but Bulls may be next! Cautious.CRYPTOCAP:BTC broke descending wedge structure towards new price discovery territory after exhausting $60-$70k Bears.
Path of least resistance?
Expecting a small correction (Nov/Dec24) before continuing towards $95~$115k n beyond (Jan/Feb/Mar25).
Stochastic RSI plateauing but RSI is bullish.
But I'm not one of those calling for $250k this Bull Run.
There are still has plenty of chinks to iron out before bitcoin is globally accepted as a true reserve asset.
Perhaps the next crypto winter will allow decent development and mass acceptance.
May the trend be with you.
BTC - Retracement Now Taking PlaceI do expect for price to go back to the 90 000 are before the fall continues. Let's see.
3 Bullish-Bitcoin Charts 4 The Knocker-Know-It-Alls!
3 Charts very recently taken showing that BTCUSD is headed to 100,000 - possibly by the end of the week. 500,000 is possible by the end of the year - that's right only 8 weeks away.
I sometimes wonder whether some very experienced traders have a concept of value. I am speaking of the cowards who wrote Cryptocurrency off in recent months, even when big Crypto's like BTCUSD were hugging their 200 daily average on D-charts. Maybe it served their agendas, maybe revengeful attacks due to losing big sums of money on Crypto, we all been there I think.
Anyway, is FOMO striking you yet? Are you sticking to your guns not to buy Solana and Bitcoin which are suppose to increase 10-fold in the months ahead.
You see, its simply a sling-shot effect for Cryptocurrency. They were pulled back in their prices quite substantially earlier in the year, then a compression / squeeze period after their selldown (no clear direction), then brought in the sling-shot, launching Crypto prices with compounded buying momentum many more times than their original sell-downs.
Thanks for reading. Here are my accumulated positions in Crypto, in case you are wondering.
AudioUSD, HotUSD, SolUSD, FTMUSD, BTCUSD,TRXUSD, ADAUSD (biggest unrealised profits), DOGEUSD (same big runner), GRTUSD, KNCUSD, HBARUSD (only loser in the red), APTUSD (bought at the weekend & doing well).
That's it I think. Plenty of positions. You don't need this many. Only need 2 or 3 star performers.
BTC - Retracement Back to 90 000We are now retracing back to the 90 000 region before the fall continues. Sellers are taking over. We are BEARISH!!
Well $BTC hit my second dip early but didn’t hit the first! This is proving to be much more GRAND than I expected the INFLOW of $ into CRYPTOCAP:BTC spot ETFs and from Alt coins moving less.
But really so much shock and awe is coming! People will continue to buy this retail. And it won’t stop until Christmas is WELL OVER! Don’t short yourself a loss here! If your a day trader go for it but I’d be just Long on small Term trades. Anyway! good luck all and well DONE HODLERS!
Bitcoin’s Path to New Highs: Targeting the $88,542 - $90,715 RanHello Folks
As Bitcoin continues its bullish momentum, the price action suggests a breakout from key resistance levels, pushing BTC towards new potential highs. The chart indicates a strong uptrend with Bitcoin breaking past significant zones, confirming the strength of buyer interest.
Based on my analysis, the next target for Bitcoin lies in the range of $88,542 to $90,715. This target range is defined by the technical breakout and current trajectory, showing potential for further upward movement. However, as always, traders should remain vigilant for any signs of reversal or correction along the way.
This level will serve as a critical area to watch, where a break above $90,000 could pave the way for Bitcoin to test even higher resistance zones, while consolidation or rejection might prompt a pullback, giving traders an opportunity to reassess entries and exits.
Keep an eye on the price action as we approach this target range—Bitcoin’s journey towards $90,000 is one to watch closely!
Once we reach 90k A new update will be shared
Think Outside the Box BTC! / Next staion 60-62KBINANCE:BTCUSDT
COINBASE:BTCUSD
Hello Dear Traders.
📝In this post I will track the BTCUSDT movements as long as it stays inside the Box.
The market has reached the end of its suffering range.
Until Monday, the price of Bitcoin can rise to the level of $61K-$62K.
After that, if the buyers support and the price breaks above the $63K level, the green scenario will be activated, and the price will return to the ceiling of the box.
On the other side, bearish resistance at the $61-62k level will push Bitcoin price down to the initial target of $55k and then $52k.
📡Please share the analysis posts.
💌Thanks for your support and energy.
BITCOIN📊 #BTCUSDT
⏱ TIME: 1D
📝From an Elliott Wave perspective, Bitcoin has completed its fourth wave and is now in the process of completing the fifth wave. In the next post, we’ll cover Bitcoin's target levels where we expect a price correction.
BITCOIN Surges on 4H Chart – Is This the Trump Effect? BITCOIN (BTCUSDT) Analysis:
Bitcoin (BTCUSD) has delivered a stellar performance on the 4-hour timeframe, breaking through key resistance levels and smashing all targets in a stunning rally. Powered by the Risological Swing Trader, this trade showcases how technical precision meets market momentum for outstanding results.
Trade Summary:
Entry: $78,291.3
Stop Loss (SL): $76,997.5
Targets Achieved:
TP1: $79,890.4 ✅
TP2: $82,478.0 ✅
TP3: $85,065.6 ✅
TP4: $86,664.8 ✅
What’s Driving the Rally?
Market Sentiment: Speculation on potential macroeconomic shifts and regulatory developments has contributed to Bitcoin’s renewed upward momentum.
Is It the Trump Effect? Rumors linking political catalysts to financial markets have spurred speculation of increased demand for alternative assets like Bitcoin, further fueling its price surge.
Technical Precision: The Risological Swing Trader’s signal at $78,291.3 gave traders the perfect entry, leveraging clear risk management with a favorable risk-reward ratio.
Key Takeaways:
Green Trendline Support: Bitcoin followed a steep upward trajectory, supported by the robust trendline.
Volume Confirmation: Strong buying volumes confirmed the breakout, validating the upward movement.
Momentum Continuation: Higher highs and consistent bullish candles signal a continuation of this rally.
Conclusion:
Bitcoin’s remarkable rally has hit all targets, with the Risological Swing Trader proving its reliability once again. Whether it’s market sentiment or political influences like the "Trump effect," BTC remains the center of attention. For traders and investors, the key is to ride the trend while keeping an eye on potential reversals.
Namaste!
ACT: The AI Prophecy — Poised to Reach $4 Soon on BinanceAct I: The AI Prophecy (ACT) is on a rising trajectory and could reach $4 at any moment, driven by a growing market interest and Binance’s robust trading environment. This is the time to consider ACT as a strategic addition to your investment portfolio.
What is next for BTC?Hi, it has been a long time since my last post but I feel like I should give my thoughts in the future of BTC.
I believe the we will see the same pattern that we had in the 2021 bull run and BTC could potentially hit a new ATH this year. I don't think we will have the strenght to reach 100K but 80K BTC can be done. If this is your first bull run I advise you to trade carefully since the bottom of BTC might still come before the next leg up. In the previous bull run we started strong in the first few months and then slowed down in June and July. I think the same will happen this year (first BTC and then altcoins). If my predictions are correct I will post a BTC chart when its time to sell. Comment what you think and follow please!
Note: This is not financial advice, trade carefully.
We are very close to a full blown out bullrun in 2025"The whole model consists of 5 submodels:
0. Days t since GB to normalized blocks h = Blocks/210k piecewise linear transformation (Preliminary step).
1. Power Law (log-log linear regression) over h. BTC = h^5.4*10^1.5
2. Diminishing return bands. -0.79^(h+0.9)<deviation of Log10(BTC) from the Log10 of the PL <+5/3*0.79^(h+0.9)
3. Harmonic oscillator with diminishing amplitude. Sin(2pi*h)
4. Time delay learning curve G(h)/2pi.
5. Lines and zones inside the bands.
That is all. Nothing else! Just verify the math."
Leo Heart
Bitcoin is forming a big cup and handle and headed to 90kWhat a strange coincidence to Gold and previous cycles.
It's a good idea to review the Schedule of Releases for the Consumer Price Index, the next one is May 15th
We likely in the parabolic phase. First of all congratulations you all , we made it. But this the time to be realistic and stop FOMOing and buying at this zones. It's time for you to start planning ahead how much will you be taking as profits to buy more at the next bear market. Take a close attention at the LMACD and that diagonal spotting past tops.
Bitcoin Trade Using Trend Following IndicatorsNote Bitcoin simply bounces off the Blue support-resistance line and continues higher.
Find out more about the indicators used on this chart by following the link in the signature line!
---
How to understand price action.
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
You can also think of these indicators as moving pivot points .
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it.
say hello btc 92-94hello guys
Before seeing my new analysis, please see my February 28 analysis. Which trader can do such a detailed analysis??
Buy now with all your might. For the purpose of 92 bitcoins.
At 92, Bitcoin may take a short break and move down a bit.
after 90 , Do not fall into the trap!!!!
Is Institutional Demand Driving Bitcoin's Surge to $82,000?
Bitcoin, the world's largest cryptocurrency, has once again shattered records, surpassing the $82,000 mark. This significant milestone, achieved over the past 30 days, represents a remarkable 30% increase in value. The surge in Bitcoin's price is largely attributed to growing institutional interest, particularly evident in the booming Bitcoin ETF market.
Institutional Adoption Fuels the Rally
One of the primary drivers behind Bitcoin's recent bull run is the increasing adoption of Bitcoin by institutional investors. These large-scale investors, such as hedge funds, pension funds, and corporations, are recognizing the potential of Bitcoin as a valuable asset class.
A prime example of this institutional interest is the BlackRock Bitcoin ETF (IBIT). Since its launch, IBIT has attracted substantial inflows, with a recent daily inflow reaching a staggering $1.12 billion. This influx of capital from institutional investors has significantly contributed to the upward momentum of Bitcoin's price.
Unpacking the Demand Dynamics
To better understand the forces driving Bitcoin's price surge, it's essential to examine the various factors contributing to the increased demand:
1. Institutional Investment: As previously mentioned, institutional investors are increasingly allocating a portion of their portfolios to Bitcoin. This institutional buying pressure has a substantial impact on the cryptocurrency's price.
2. Retail Investor Enthusiasm: Retail investors continue to show strong interest in Bitcoin, particularly during periods of market volatility. This retail demand can further amplify price movements.
3. Global Economic Uncertainty: In times of economic uncertainty, investors often seek alternative assets like Bitcoin as a hedge against inflation and currency devaluation.
4. Technological Advancements: Ongoing advancements in blockchain technology, such as the Lightning Network, are enhancing Bitcoin's scalability and transaction speed, making it more attractive to users.
5. Regulatory Clarity: Increasing regulatory clarity in major jurisdictions is boosting investor confidence and facilitating institutional adoption.
The Road Ahead for Bitcoin
While Bitcoin's recent price surge is undoubtedly impressive, it's crucial to approach future price predictions with caution. The cryptocurrency market is highly volatile, and factors such as regulatory changes, macroeconomic conditions, and technological developments can significantly impact Bitcoin's price trajectory.
However, given the strong fundamentals and growing institutional interest, many analysts believe that Bitcoin's long-term outlook remains bullish. As the cryptocurrency ecosystem continues to mature and gain wider acceptance, Bitcoin could potentially reach even higher price levels in the future.
Conclusion
Bitcoin's recent breakthrough to $82,000 is a testament to its growing dominance in the cryptocurrency market. The surge in institutional demand, coupled with other positive factors, has propelled Bitcoin to new heights. While future price movements are uncertain, the long-term potential of Bitcoin remains significant, making it an asset worth monitoring for investors seeking exposure to the digital asset class.
MicroStrategy Purchases 27,200 BTC Worth Over $2Bln, $BTC up 2%In a bold move signaling confidence in Bitcoin’s future, MicroStrategy has acquired an additional 27,200 CRYPTOCAP:BTC , worth over $2 billion, bringing their total Bitcoin holdings to an impressive 279,420 BTC. This acquisition further solidifies MicroStrategy’s position as one of the largest corporate holders of Bitcoin, placing them ahead of many major institutions in the digital asset space. As Bitcoin continues to break new highs, the company is not only seeing massive unrealized profits but also positioning itself as a key player in the ongoing adoption of Bitcoin.
MicroStrategy’s Bitcoin Strategy: More Than Just an Investment
MicroStrategy’s co-founder, Michael Saylor, has long been a proponent of Bitcoin ( CRYPTOCAP:BTC ), often emphasizing the digital asset’s potential as a hedge against inflation and a store of value. With their latest purchase, MicroStrategy has made it clear that their bullish stance on Bitcoin remains unwavering.
At an average purchase price of $42,692 per CRYPTOCAP:BTC , MicroStrategy's total Bitcoin investment has now exceeded $11.9 billion. With Bitcoin trading at new all-time highs, the company is currently sitting on an unrealized profit of over $10 billion. Saylor’s announcement not only highlights MicroStrategy’s commitment to Bitcoin but also demonstrates the company’s strategic approach to accumulating Bitcoin, especially during market downturns or periods of consolidation.
But it's not just about the numbers. MicroStrategy’s commitment to Bitcoin is a reflection of a larger trend among institutional investors. The company’s purchase of Bitcoin continues to position it as the fifth-largest Bitcoin holder globally, behind only Satoshi Nakamoto, Binance, BlackRock, and Grayscale. What sets MicroStrategy apart, however, is its position as the top Bitcoin holder among publicly traded companies, owning a significant 1.2% of Bitcoin’s total circulating supply.
Bitcoin’s Technical Outlook: Poised for Growth
As of the time of writing, CRYPTOCAP:BTC has risen 1.56%, marking a continuation of the bullish trend that has dominated the market in recent weeks. While Bitcoin is already trading at elevated levels, the technical indicators suggest that the digital asset’s rally may be far from over.
One of the most notable patterns on the CRYPTOCAP:BTC price chart is the falling wedge formation. A falling wedge is typically seen as a bullish continuation pattern, indicating that despite recent price declines, the asset is setting up for a significant upward move. The RSI is currently at 78, signaling that Bitcoin is in overbought territory, yet this doesn’t necessarily mean a price reversal is imminent. In fact, the overbought condition could be a reflection of the strength and momentum behind Bitcoin’s bullish movement, with room for further growth.
Additionally, Bitcoin has formed a golden cross pattern, where the 50-day moving average crosses above the 200-day moving average. This is widely considered a highly bullish signal, historically associated with major price rallies. With these key technical indicators in play, CRYPTOCAP:BTC looks poised to break past the $90,000 level, a price target that seems increasingly achievable given the current market conditions.
Global Economic Shifts and Bitcoin’s Growing Role
What’s perhaps most significant about Bitcoin’s current trajectory is how its role is evolving on the global stage. As more institutions and corporate players like MicroStrategy continue to accumulate Bitcoin ( CRYPTOCAP:BTC ), it’s clear that Bitcoin is no longer seen solely as a speculative asset but as a legitimate store of value and a hedge against economic uncertainty.
The increasing adoption of Bitcoin ( CRYPTOCAP:BTC ) by both institutional and retail investors has already begun to shift perceptions of the digital asset. The current economic climate, characterized by rising inflation, volatile fiat currencies, and increasing geopolitical tensions, has created a perfect storm for Bitcoin’s rise. As traditional markets struggle with inflationary pressures, Bitcoin's limited supply and decentralized nature are becoming more attractive to investors seeking a stable and predictable asset.
MicroStrategy’s latest acquisition comes at a time when Bitcoin is nearing new all-time highs, and the company’s strategic positioning in the market reinforces the broader trend of institutional confidence in Bitcoin. As one of the largest corporate Bitcoin holders, MicroStrategy continues to lead the charge, and its actions signal to other institutions that now may be the time to accumulate Bitcoin.
What’s Next for Bitcoin and MicroStrategy?
With Bitcoin showing signs of further bullish movement, many are wondering just how high CRYPTOCAP:BTC can go in this current market cycle. With the support of key technical patterns, such as the falling wedge and golden cross, and MicroStrategy's unwavering belief in Bitcoin’s long-term potential, the stage is set for CRYPTOCAP:BTC to reach new heights in the coming months.
The path ahead may still be volatile, but the overall trend remains overwhelmingly bullish. As the world becomes more familiar with Bitcoin ( CRYPTOCAP:BTC ) and its potential, both the institutional and retail sectors are likely to continue increasing their exposure to the digital asset. The combination of strong institutional support, favorable technical indicators, and Bitcoin’s role as a global store of value suggests that CRYPTOCAP:BTC could be on the verge of breaking through the $90,000 barrier—and possibly even higher.
For investors, traders, and institutions, MicroStrategy’s latest acquisition is a signal of what’s to come: Bitcoin is not just a speculative investment but a powerful asset in today’s global economy. With a growing number of institutional players following in MicroStrategy’s footsteps, the future of Bitcoin has never looked brighter.
Conclusion
MicroStrategy’s latest purchase of 27,200 BTC underscores the company’s continued belief in the long-term potential of Bitcoin. With the company now holding nearly 280,000 BTC and seeing significant unrealized profits, it’s clear that their Bitcoin strategy is paying off. As CRYPTOCAP:BTC continues to rise, MicroStrategy’s position as the largest publicly traded corporate holder of Bitcoin sets a precedent for other companies to follow suit. With Bitcoin's technical indicators suggesting further growth, CRYPTOCAP:BTC is primed for a bullish rally, and MicroStrategy’s strategic move could mark just the beginning of a broader institutional shift toward Bitcoin.
Bitcoin: Is a New Bullish Run on the Horizon? Despite Bitcoin's impressive 50% rise this year, the past six months have been challenging for investors. After the much-anticipated halving event in April, many expected a substantial surge in Bitcoin's price. However, since then, the cryptocurrency’s value has remained relatively stagnant, currently hovering around $68,600. This situation leaves investors at a crossroads: should they continue to invest in Bitcoin with hopes of significant gains, or is it time to explore other high-risk, high-reward alternatives?
The Investment Dilemma: Short-Term vs. Long-Term Outlook
If you are contemplating an investment in Bitcoin, managing expectations for the remainder of the year is crucial. Current predictions suggest that Bitcoin has about a 57% chance of reaching a new all-time high in 2024, making it essentially a coin toss as to whether it will surpass its previous peak of $73,750. The probability of Bitcoin hitting the much-anticipated $100,000 milestone this year stands at a modest 14%, further highlighting the uncertainty in the short term.
However, the long-term outlook for Bitcoin remains optimistic. For instance, investment firm Bernstein predicts that Bitcoin could reach $200,000 by the end of 2025. Visionaries like Cathie Wood, founder of Ark Invest, foresee Bitcoin soaring to $1 million by 2030. Even more ambitious, Michael Saylor, founder and executive chairman of MicroStrategy, believes that Bitcoin could reach a staggering $13 million by 2045.
For investors seeking short-term gains, Bitcoin may not be the best option at present. Tech stocks, such as Nvidia, which has seen a 159% increase this year, could offer more immediate returns. However, for those considering a longer investment horizon—five years or more—Bitcoin still presents a solid opportunity for growth.
Bitcoin’s Role in the Future Financial System
One of the most compelling reasons for Bitcoin’s long-term potential lies in its ability to transform the global financial landscape. Bitcoin is more than just a digital currency—it is underpinned by blockchain technology, which promises faster, cheaper, and more efficient financial transactions. The potential to disrupt traditional financial systems and become a cornerstone of the global economy is what makes Bitcoin an attractive investment.
Cathie Wood likens Bitcoin's potential to that of the "information superhighway" that revolutionized the internet. She envisions a "financial superhighway" where blockchain replaces the internet and economic value replaces digital information. Wood predicts that Bitcoin could reach $1.5 million within a few years, a reflection of its transformative power.
However, it's important to remain cautious about such lofty predictions. While Bitcoin’s revolutionary potential has been touted for over a decade, much of its promise as a viable payment method remains unfulfilled. For example, when was the last time you used Bitcoin for an everyday online purchase? Adoption, though growing, is still not at a level that justifies these sky-high predictions.
A New Wave of Political Support for Bitcoin
One significant shift in 2024 is the rise of political support for Bitcoin in the United States. There's growing awareness that the US is lagging behind other countries in terms of crypto adoption. High-profile politicians, including former President Donald Trump, have started advocating for America to become the “crypto capital of the world” and a “Bitcoin superpower.” The idea of a “Bitcoin arms race” with other nations is gaining traction.
In July, Senator Cynthia Lummis (R-Wyoming) proposed the idea of establishing a national strategic reserve for Bitcoin. She suggested that the US should commit to acquiring 5% of all Bitcoin in circulation, similar to how the country maintains a strategic oil reserve. While this may seem bold or even risky, it reflects the growing belief in Bitcoin’s long-term value.
These political developments add momentum to the optimistic price predictions, but it's important to remember that Bitcoin won’t skyrocket to $1 million overnight, even with the introduction of Bitcoin ETFs or strategic reserves.
Bitcoin’s Price Journey and Future Prospects
Since 2013, Bitcoin has risen from $100 to its current $68,600. If you believe in its continued upward trajectory over the next decade and are prepared to endure the inherent volatility of cryptocurrencies, it might be worth considering an investment while the price remains below $100,000.
However, the question remains: is Bitcoin ready for another major rally?
Technical and Market Insights
From a technical standpoint, Bitcoin is currently sitting on a significant dynamic resistance trendline, which it has failed to break through five times since March 2024. The more a support or resistance level is tested, the weaker it becomes. This suggests that Bitcoin may be gearing up for a potential breakout.
Additionally, the latest Commitment of Traders (COT) report reveals an interesting contrast. Commercial traders, often referred to as "smart money," are increasing their long positions, while large speculators have turned bearish. This divergence could indicate that the institutional market believes a bullish run is imminent, while retail traders remain cautious.
Adding to this, the seasonality pattern from last year showed a strong bullish run starting around this time. Could history repeat itself? The confluence of a weakening resistance, smart money bullishness, and favorable seasonality patterns could point to a new upward movement for Bitcoin.
Conclusion: Should You Buy Bitcoin Now?
Bitcoin's current situation presents a mix of opportunity and risk. While the short-term outlook remains uncertain, the long-term potential for Bitcoin as a transformative force in the global financial system is undeniable. With institutional investors showing increased interest and political support growing, Bitcoin could be on the verge of a significant breakthrough.
For those with a long-term investment horizon and the ability to weather volatility, Bitcoin remains a strong contender in the world of high-risk, high-reward assets. However, if you’re looking for short-term gains, you may want to explore other options like tech stocks, which have been delivering exceptional returns this year.
What do you think? Will Bitcoin finally break through its resistance and embark on a new bullish run? Let us know your thoughts in the comments below.
BTC/USDT: Uptrend Continues Toward New Targetshello guys.
such a day! ha!
Channel Resistance: Price is moving along an upward channel, nearing resistance levels at approximately $81,000 and $83,000.
Fibonacci Extension: The Fibonacci level at 1.65 aligns with a target zone, suggesting potential resistance around $81,000 - $83,000.
Short-Term Pullback: A minor pullback within the channel is possible before continuing to the targets.
Momentum: Current momentum is strong, but watch for resistance near the target zones where profit-taking may occur.
ALTS PUSH ? - After weekend this will decideAfter the weekend, a double break of the trendline and RSI will decide if we have the long awaited FINAL PUSH for the Altcoins.
This time, unlike 2018 and 2021 I think it will be selective. Not all alts are going to fly or even go up, so we will have to choose wisely.
Some of the ones I follow individually with the confirmation of this chart are #LINK, #ONDO, #XRP and #VELA.
They all depend on this chart and what happens with #BTC.
Let's follow it closely!
CRYPTOCAP:BTC CRYPTOCAP:XRP BIST:LINK LSE:ONDO LSE:VELA
