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#BTC/USDT Weekly Analysis, $44k or $58.5k, Fib Levels.#BTCUSDT Weekly Update: BTC is trading just below the crucial level of $58.5k. Let's look at the current situation. Current Situation: - BTC is in a precarious position. The $51k level corresponds to the 0.382 Fibonacci retracement, which hasn't been tested yet. - The 0.618 Fibonacci retracement, often referred to as the "golden pocket," is also yet to be tested. - A close below the 0.382 level could drive BTC down to $44k or even $38k. This isn't fear-mongering, just a straightforward chart analysis using Fibonacci Retracements. Such a move would likely trigger a broader market downturn, with altcoins potentially experiencing 50% further discounts. Possible Avoidance Scenarios: 1. BTC maintains the monthly support level of $56.5k. 2. BTC closes above the $58.5k level, rendering the current price action as a deviation (false breakdown). For those considering entering altcoins, it might be wise to wait for clear confirmations on either side. Let me know your thoughts in the comments section. Bookmark this chart for future updates, and hit the like button if you found this helpful! Share with your friends. Thank you #PEACE
BITSTAMP:BTCUSD
by Cryptorphic
10
BTC Potential Path To $85,000We have been selling off for quite a bit which is expected after we touched 70k, lining up the trend with previous bull runs you can see that same exact pattern which consists of dipping until the sell is exhausted and the downtrend shifts to a massive pump. This is lining up perfectly with this years price action, there is a chance that August will be the start of the massive leg up which would lead to euphoria, we are quite literally about 22 days away or the downtrend shifts within a week to two and then we see a 3 month run up, this is all hypothetical, but it also makes sense with the election lining up, etf releases, the potential squeezes on GME and AMC, the universe is aligning once again, we’re almost there…. Or we go to 0, not financial advice #WAGMI
Long
by SnyyperT
2
Bitcoin ALL-TIME-HIGH is STILL COMING: Here's WhyA hint... the RSI. The RSI is one of those reliable old-timers, especially useful in higher timeframes to determine longer period price action, such as near term and long term. Together with Elliot Wave Theory, I'm going to present to you an argument for why Bitcoin is STILL BULLISH and what my strategy/expectation is for the coming weeks. I'll also share key metrics to watch and do regular updates should the conditions mentioned in the video be met. Although I am short term bearish, I remain longer term bullish, making it really impossible to label this post as solely "short" or "long". Cheers to the Top10%'ers 🥂 __________________________ BINANCE:BTCUSDT
by CryptoCheck-
1
Bitcoin daily analytic we are planning and doing simple and practical live trading in Bitcoin use the simple strategy by set up your mind set first. thinking about how to be rich in a long term and start. if you know well enough this philosophy you would definitely can define it into the market buy reaching high standards of DCA strategy. buying in deep of the market use your regular saving monthly avoiding from all manipulation aspect of the market like shitcoins and high leverages. I described my mind set because it is important for people who follow me to see my analytics. we are looking for bounce back around 53~49 and not selling before 70 zone
Long
by Sepiknows
BTC - what if it's lower than $56 522?On May 21, the INDEX:BTCUSD chart formed a model on the weekly timeframe that describes the key logic behind the price movement. The model was confirmed by touching the trend line: After an unsuccessful attempt to retest the trendline between June 5 and June 8, the price retreated towards the 4 point ($56 522). Right now the price is trying to consolidate above this level, but if INDEX:BTCUSD still fails to trade higher during the week and goes back under $56 522, we could see price levels like $43 349 and $33 229 in the long term.
INDEX:BTCUSDShort
by TSFC
Why are you panicking? 1 of this 2 will certenaly happendWhy are you stressing about COINBASE:BTCUSD bitcoin going down. is beening cleary manipulated. 1 of this 2 scenarios will occur, in their time. 1 scenario, bitcoin drop to 40k support. 2 scenario, bitocin drop to 30k support. If you check the MONTLY chart, you have clean range until 30k (Red Box). So you know what must certainly is gonna happend. Or do you think that WS guys, come to crypto cuz they love this sh!t!? No! They come to crash this sh!t, and try controll it. Simple as that. Be smart. This is a LONG TERM game.
BYBIT:BTCUSD.P
by brunodpferreira
Bitcoin - Is it Time to Panic?At the low yesterday, the price of Bitcoin was down a little over 27% from the all-time high in March. In previous bull market cycles, we have seen many corrections of 30% or more. As was the case in past cycle corrections, we are seeing a lot of panic selling. Another issue is being in over leveraged positions and getting stopped out during corrections. Unfortunately, many inexperienced market participants are not familiar with Bitcoin's past price history. So, when we experience a large correction, they panic and sell when history has shown that these corrections are great buying opportunities. But, unfortunately, past history has shown us that many people will be too scared to buy during this correction and many won't start buying again until the price of BTC is back up near it's all-time high. If you take the time to study Bitcoin's price history, it is very clear that Bitcoin has been running in 4-year market cycles. This is especially true for the last two market cycles. From bear market bottom to the next bear market bottom, the 2015 to 2018 market cycle was 1432 days in length, and the length of the 2018 to 2022 market cycle was 1438 days. Even the elapsed times between events (bottom to halving, halving to peak, and peak to bottom) during each of these cycles are very consistent. Obviously, this market cycle trend doesn't have to continue, but I believe that it will, at least for this cycle. If that is the case, then I wouldn't expect the post halving bull market to begin until October or November of this year. Looking back at the previous two cycles, the 2016 bull market started 259 days after the halving, and the 2020 bull market started 149 days after the halving. There is always a chance that I am totally wrong and the peak in March was the peak for this market cycle and it will be all downhill from here. But I believe the probability of that is very low. I believe we could see a lot more volatility and possibly even lower prices leading up to the post halving bull market. The German and the US governments still hold significant amounts of BTC which they could sell adding to downside pressure. There is also the Mt Gox BTC that could add to selling pressure driving the price of BTC lower. But in the coming months I believe any excess selling of BTC will be absorbed by the market and eventually the current bearish sentiment will flip to Bullish. I will be using this correction and the time between now and this fall to increase my position sizes. But this is just how I am approaching this market cycle; every investor needs to do their own research and make their own decisions. I also make my decisions based on my long-term view and long-time horizon.
BNC:BLXLong
by Bigsky_Crypto
Bitcoin on a weekly timeframe is bullishFrom an Elliott Wave Theory perspective, #bitcoin is currently ending a corrective wave 4. Duration is now identical to that of prior Wave 2 so we are fine in that regard. In terms of structure, this correction is complex, alterning with Wave 2´s standard ABC correction. We could either be in a Flat ABC or in a WXY zig zag, this is not yet defined. In any case it looks as if this correction is either finished or soon to be. Momentum is still downwards and buyer have not showed up. So further downward pressure could still push the price a bit more. Expected target for ending this Wave 4 is the purple rectangle: somewhere between $49,360 and the already reached $53,500 level. Unless we see a flash reversal, the $50,000-51,000 level (where prior support sits) would not be surprising. And from there... up Enjoy the ride!
Long
by Ivanbole71
btc 7/7/24out look for this week till the news drop . technical analysis. Price Movements: Bitcoin’s price has seen a notable decline, dropping below $54,0001. This drop follows a period of high volatility, with prices fluctuating between $53,500 and $57,0002. Market Sentiment: The recent sell-off has been attributed to various factors, including large movements of Bitcoin from Mt. Gox, which has raised concerns among investors3. Additionally, there has been a broader market correction affecting cryptocurrencies4. Technical Analysis: Analysts are watching for potential support levels around $54,000, but there is no clear confirmation of a bottom yet1. Some believe that Bitcoin may resume its uptrend soon, potentially catching up with gold’s performance. on todays date btc is at 57222, on my technical terms if btc breaks 58919 it should continue up till weekly open at 63000. on the other side if bull doesn't break 59465 and reject the market we might see market going back to fill in the correction 52900 or lower.
BYBIT:BTCUSD.P
by GoldReaper01
1
Bitcoin — Bull Flag Scenario Still On The Table — Target 100k Bitcoin's latest crash reinforced the HTF bull flag scenario. BTC touched the flag's lower boundary precisely and rebounded strongly. A breakout to the top would provide an extremely bullish signal and bring 100k back on the table. However, we are not there yet. Nevertheless, besides the logical resistances at 60k and the previous ATH, the bull flag scenario is one of the most important setups to watch right now.
COINBASE:BTCUSDLong
by ben_walther
BTC Bearish Pattern in Weekly ChartAfter a long time, BTC has been dropped with weekly candle below bottom line of Pi cycle average line. This is a bearish pattern based on the history. Now resistance is around 65000. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
INDEX:BTCUSDShort
by rukshan2102
Bitcoin(BTC/USD) Daily Chart Analysis For Week of July 5, 2024Technical Analysis and Outlook: Bitcoin has retraced to our pre-established completed Inner Coin Dip level of 59000, Outer Coin Dip of 57000, and current Outer Coin level of 54000. We anticipate a recovery from this landmark move, with a target to attain the Mean Resistance at 57900 and extend to the Mean Resistance at 60400. Conversely, our principal downside objectives encompass a retest of the completed Outer Coin Dip 54000 and potentially the subsequent Outer Coin Dip 51000.
BITSTAMP:BTCUSD
by TradeSelecter