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Bitcoin Surges 2% to $68K as Tesla Transfers $760M Bitcoin StashBitcoin’s price experienced a notable 2% surge, reaching $68,000 after news broke of Tesla moving its entire Bitcoin ( CRYPTOCAP:BTC ) holdings worth $760 million. The event marked Tesla's first Bitcoin transaction in over two years, sparking speculation within the crypto space. Is this merely a security measure, or could it have larger market implications? Tesla Moves $760 Million from Public Wallet: What We Know Tesla transferred its entire Bitcoin ( CRYPTOCAP:BTC ) stash from its public wallet in multiple transactions, a move confirmed by Arkham Intelligence. This series of transactions included $75.18 million, $76.08 million, and $77.16 million sent to unknown wallets. The remaining funds were also dispersed to various wallets, suggesting a deliberate spread across cold storage. While the move raised concerns about a potential market sell-off, it's worth noting that Tesla could have transferred the funds for security purposes. Concentrating a large amount of ( CRYPTOCAP:BTC ) in one wallet is a security risk, and Tesla may be mitigating this by using cold wallets to protect its holdings. However, without confirmation from Elon Musk, questions linger about the intention behind the transfers. Impact on Bitcoin and Market Sentiment Despite the speculation, Bitcoin ( CRYPTOCAP:BTC ) surged 2%, reaching $68K, reinforcing its upward momentum as it heads towards its all-time high (ATH) of $73,000. Tesla’s large ( CRYPTOCAP:BTC ) movements could cause selling pressure if the company were to liquidate its holdings, yet there is no concrete evidence suggesting such an action. With the US election looming and Bitcoin’s typical “Uptober” rally underway, some analysts predict a potential new ATH before the election. Matt Hougan, Bitwise's Chief Investment Officer, and analysts from Standard Chartered Bank, both expect Bitcoin ( CRYPTOCAP:BTC ) to break above $73,000 soon. Technical Analysis of Bitcoin’s Recent Surge As of writing, Bitcoin is trading at $67,810, showing a 1.15% increase over the last 24 hours. The relative strength index (RSI) stands at 68, approaching the overbought zone. Historically, Bitcoin ( CRYPTOCAP:BTC ) tends to perform well in October, a trend that appears to continue with this current rally. The daily chart highlights a short-term symmetrical triangle, suggesting that a break above the $69,000 resistance could trigger a more aggressive upward move. Should Bitcoin ( CRYPTOCAP:BTC ) surpass this level, the next target is $80,000, which aligns with its previous all-time high. However, caution is advised as key economic reports are expected tomorrow, which could introduce short-term volatility. Additionally, while Bitcoin ( CRYPTOCAP:BTC ) enjoys its rally, most altcoins have remained underwhelming, either trading sideways or experiencing declines. Bitcoin's dominance in the market continues to grow, and altcoins may struggle to regain momentum unless BTC breaks its current pattern decisively. What’s Next for Bitcoin? While Tesla’s Bitcoin movements created a stir, the market remains bullish on Bitcoin’s long-term trajectory. With Musk silent on the exact reason for the transfers, speculation about a sell-off will likely persist. However, as the US election approaches and economic events unfold, traders should keep an eye on Bitcoin's behavior around key levels, especially $69,000 and $73,000. For now, Bitcoin ( CRYPTOCAP:BTC ) appears poised to maintain its upward momentum, with the potential to reach new highs before year-end, especially if macroeconomic and institutional factors remain favorable. Conclusion Tesla’s $760 million Bitcoin ( CRYPTOCAP:BTC ) transfer, though significant, does not seem to have derailed Bitcoin's upward trajectory. With Bitcoin ( CRYPTOCAP:BTC ) continuing to climb toward $68,000 and beyond, traders are advised to watch for key technical levels as the market enters a period of heightened volatility leading up to the US election. Whether Tesla's moves are simply for security or signal something more, the broader Bitcoin ( CRYPTOCAP:BTC ) market remains bullish, driven by both technical patterns and underlying fundamentals.
Long
by DEXWireNews
13% profit 30% in total, bitcoin might do a new higher high Recap: first off all congratulations to everyone who followed my signals, we are on our second trade the first one made more than 16% profit and the second since September 1st made more than 13% and still going strong Since September 1st I've guided my followers through entry and exit points and thanks to my perfect entry the last panic sale didn't put us in the red even thought I've pleaded every trader to buy Bitcoin and that it will at least go above 65858$ and I've been trolled for saying that now the joke's on you Bitcoin will continue it's uptred and might do a new higher high
Long
by thebitcoin_trader
BTC Technical Analysis👀👉 Bitcoin is currently exhibiting an overextended bearish move and has reached a key support level, where we are seeing signs of a retracement. There are three specific resistance levels above the current price that could serve as potential retracement targets. I’m monitoring for a selling opportunity if price moves into one of these zones and shows a structural break to the downside. Until this price action unfolds, there is no active trade setup. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always assess your risk and consult a financial professional before making trading decisions. 📊✅
by fxtraderanthony
Bitcoin will break 7 month Bullish Flag?Hey traders! Here we are, as we thought we touched 59K and we came up. And we're still moving in a long 229 day bullish flag, and hopefully we could break it soon. The next resistance target is around 68K and if we're going to break this level, plus volumes will confirm and will see short correction if RSI will be oversold we can go upwards strongly! But don't forget to pay attention for 1 Day MA which is still bearish, volumes that are still descending and RSI. What's your thoughts?
Long
by SheTradesHub
I'm light years away from everyone this was said September 30th On September 30th I posted that the last panic sale for bitcoin was a healthy pull-back and that it's just a panic sale People trolled me for that because they aren't traders they are gamblers And I've posted multiple time after that(check my profile) borderline begging people to buy Bitcoin for easy profit at least 5% now we are at more than 7% in 3 days Now is your chance buy as much as you can and follow to get the perfect exit point
Long
by thebitcoin_trader
2
BITCOIN IS GOING UP! TA + TRADE PLAN BY BFTechnical Analysis of Bitcoin (BTC) on the Chart by Blaž Fabjan Falling Wedge Continuation Pattern The falling wedge is a bullish continuation pattern, often indicating a potential upward breakout after a period of consolidation. Resistance and Support Lines: The chart shows a clear resistance line sloping downward and a support line also trending downward. The price is approaching the apex of the wedge, where a breakout is likely imminent. Indicators Analysis: VMC Cipher B (Market Cipher Indicator): The divergences on the VMC Cipher B show a series of green dots, which are often used to indicate potential long entry points. The momentum appears to be turning positive, with the indicator suggesting possible bullish divergence. RSI (Relative Strength Index): The current RSI is at 39.81, which indicates a moderately oversold condition. An RSI below 40 often suggests that the market is near the bottom, and a potential reversal to the upside is likely. Stochastic Oscillator: The Stochastic Oscillator shows 43.44 and 47.50 (K and D lines), hovering near the oversold region but not yet fully bottomed out. A crossover or upward movement from these levels would provide additional confirmation of a bullish reversal. HMA+ Histogram: The HMA (Hull Moving Average) histogram shows recent red bars, indicating negative momentum, but it appears to be narrowing, suggesting that the selling pressure is weakening. A transition from red to green bars would confirm a shift toward bullish momentum. Potential Breakout Scenario: Given the falling wedge pattern and the technical indicators approaching oversold conditions, there is a strong likelihood of a bullish breakout. The volume is not provided in the chart, but price action suggests decreasing volatility before a potential breakout. The breakout direction is likely to be upwards, targeting the $65,000 to $67,500 resistance zone initially. Trading Plan by Blaž Fabjan: Entry Strategy: Wait for Confirmation of Breakout: Enter a long position once the price breaks above the resistance of the falling wedge pattern (around $61,500-$62,000). RSI needs to cross above 45 to confirm momentum is shifting to the upside. Ensure that the VMC Cipher B shows green dots and the Stochastic Oscillator shows a bullish crossover before entering the trade. Stop-Loss Strategy: Place a stop-loss just below the support line of the wedge, which would be approximately around $59,000, to protect against a false breakout or further downside. Profit Targets: First Profit Target: $65,000 (previous swing high and a significant psychological level). Second Profit Target: $67,500 (the next key resistance level after the breakout). Risk-Reward Ratio: Aim for a minimum 2:1 risk-to-reward ratio. For an entry near $62,000 with a stop loss at $59,000, the first target at $65,000 gives a decent risk-to-reward ratio, with the potential for higher gains if the price continues to climb. Trade Management: Trailing Stop: Once the price reaches the first target, move the stop-loss to breakeven (entry point) to lock in profits and manage risk. Monitor the RSI and VMC Cipher for signs of exhaustion in momentum once the price nears the second target. Alternative Scenario: If the price fails to break above the wedge and breaks below the support line, consider reversing the position or waiting for further confirmation of a bearish trend before shorting. By following my plan, traders can capitalize on the potential upward breakout from this falling wedge continuation pattern while managing their risk effectively.
CRYPTO:BTCUSDLong
by elfabiiani
1
#BTC/USDT Weekend Update!#BTCUSDT: Not much is happening—just sideways price action on low volume due to the weekend. Expecting more volatility on Monday after the weekly close. For now, OB remains untested so be ready if that gets tested, possibly $63k-$64.3k. It will give us some good entries for scalp and swing in altcoins. With both the monthly and weekly closes approaching, these will be crucial. We’ll need a few confirmations for the anticipated "UPtober." I’ll be sharing more details on Monday. Alts? Alts might be choppy for now, but I expect strong rallies next month. Remember, dips are for buying! Have a great weekend folks! Do hit the like button if you like it and share your views in the comment section. Thank you #PEACE
by Cryptorphic
4
BITCOIN ULTIMATE PARABOLIC CURVE CHART | Insane $181,267 Target!🟢 Hello, fellow traders! I’m excited to share an update on Bitcoin price prediction and the potential implications of the Parabolic Curve pattern we witnessing at the moment! Today, let’s dive into the Parabolic Curve as Bitcoin approached the end point of Base 4. Understanding this pattern can help us evaluate future trading opportunities. The Parabolic Curve often surfaces near the culmination of major market surges, marking the end result of multiple base formation breaks. This pattern is typically seen in growth assets with innovative technology or visionary leadership — Bitcoin is a prime example. Last year, at the pivotal point of Base 3 , indicated by the "X" on the chart at $25,700 , Bitcoin doubled in a remarkably short timeframe. The hallmark of this pattern was its staircase-like formation, where the price created short-term bases before catapulting to new highs, repeating this cycle multiple times during its ascent. In my analysis using Fibonacci tools and Elliott Waves , I've observed that: Base 4 in the range between the $72,759 resistance and $55,257 support , with lowest spike at $49,000 . The anticipated sell zone for the parabolic move was positioned between $149,175 and $181,267 . This parabolic curve, reminiscent of a rocket's trajectory, has demonstrated significant persistence. However, as we saw, caution is a key as this pattern near completion; rapid upward momentum can conclude abruptly, resulting in price declines that outpace previous gains. What are your thoughts on Bitcoin's recent movements? Did you spot the Parabolic Curve unfolding as anticipated? Share your insights in the comments below — I’d love to hear your perspective! Your support means the world to me, so if you found this analysis valuable, please smash that like button and follow for more insights!
Long
by ArShevelev
33
Bitcoin (BTC/USDT) 1-hour price action + trade planTechnical analysis for Bitcoin (BTC/USDT) 1-hour price action with multiple indicators and a descending triangle pattern by Blaž Fabjan Chart Patterns Descending Triangle: This is a classic pattern that typically suggests consolidation, and in many cases, a breakout (especially when formed in an uptrend). The triangle seems to be nearing the apex, indicating that a breakout could happen soon. Breakout potential: Since it's forming within an overall uptrend, the triangle suggests the possibility of a continuation of the uptrend after the consolidation. Indicators VMC Cipher B: The VMC Cipher B shows wave-like movements indicating market momentum and divergences. It looks like the waves are approaching a positive curve, indicating a potential bullish movement if confirmed by momentum. RSI (Relative Strength Index): The RSI is hovering around 50.49, which shows a neutral trend at the moment. No overbought or oversold conditions are present, leaving room for upward or downward movement depending on the breakout direction. Stochastic (14, 1, 3): The stochastic shows a level of 43.32 (blue) vs 56.91 (orange), indicating a slight bearish momentum, but it could reverse if price continues consolidating and breaks upwards. HMA+ Histogram: The histogram appears to show bearish pressure with negative values such as -55.9, though it looks like it may start to shift upwards if there's enough buying momentum. Volume: The volume appears lower during consolidation, which is typical before a significant move. Watch for an increase in volume as the price approaches the end of the triangle. Support and Resistance: Support: Around 63,800 USDT (marked by the bottom of the triangle). Resistance: Immediate resistance appears at around 64,200 USDT, the upper trendline of the descending triangle. Trading Plan: Breakout Strategy: Bullish scenario: If BTC breaks the triangle to the upside, enter a long position after confirmation (e.g., after the price breaks above 64,200 USDT with volume). Place a stop-loss slightly below the triangle's bottom at around 63,500 USDT. Target price: A potential upward target could be around 67,000 USDT (previous high) based on the size of the triangle. Bearish scenario: If the price breaks below the triangle’s bottom (around 63,800 USDT) with volume, a short position can be considered. In this case, place a stop-loss just above the upper trendline of the triangle (around 64,500 USDT). Target price: A downside target would be around 62,000 USDT, depending on how strong the downward momentum is. Risk Management: Set a risk/reward ratio of at least 1:2, considering the uncertainty of the consolidation period. Adjust your position size to risk no more than 1-2% of your capital on the trade. In summary, BTC is consolidating in a descending triangle within an uptrend, and a breakout in either direction is likely. Watch for volume and confirmation before taking a position, and stick to a disciplined risk management plan.
Long
by elfabiiani
technical analysis and trading plan for Bitcoin (BTC/USDT)Technical analysis and trading plan for Bitcoin (BTC/USDT) by Blaž Fabjan Bullish Pennant Formation: The chart shows a bullish pennant pattern, which typically indicates a continuation of the prior upward trend. This suggests that once the consolidation within the pennant breaks to the upside, there could be a further rally. Support and Resistance Levels: Support Level: Around $61,758.48, which is holding the price within the consolidation. Resistance Level: The next significant resistance is around $64,591.15. If the price breaks the resistance of the pennant, it could target higher levels, potentially leading toward $68,556.87 as a bullish target. Volume: There’s a moderate amount of volume, but a volume breakout would be needed to confirm the movement in either direction. Indicators: VMC Cipher B Divergences is showing some green dots indicating bullish divergence, which further supports the potential for an upward breakout. RSI (Relative Strength Index): The RSI value is around 53.94, suggesting that the market is in a neutral zone. It's neither overbought nor oversold, giving room for movement in either direction. Stochastic Oscillator: Around 36.45, slightly on the lower end, signaling that Bitcoin might be in an oversold position on the short-term, indicating a potential upward reversal. Trendline Projection: The image also indicates an upward price projection beyond $67,000 if the pennant breaks to the upside, aligning with the bullish sentiment. Trading Plan: Buy Scenario (Bullish Breakout): Entry Point: Consider entering a long position if Bitcoin breaks above the upper trendline of the pennant and surpasses the $64,000 resistance level with strong volume confirmation. Take Profit Levels: First target: $64,591.15 (immediate resistance). Second target: $68,000. Final target: $68,556.87 (upper resistance). Stop Loss: Place a stop loss just below the $61,758.48 support level or just below the lower trendline of the pennant. Sell Scenario (Bearish Breakdown): Entry Point: If Bitcoin breaks below the lower trendline of the pennant and the $61,758.48 support level, it might indicate a bearish reversal. Consider entering a short position. Take Profit Levels: Look for a price drop toward $60,301.68 or lower. Stop Loss: Place a stop loss just above the pennant resistance level around $63,000 to limit risk. Conservative Strategy: Wait for a clear breakout from the pennant either way before entering any trade. Watch for confirmation through volume increase, as this would validate the direction of the breakout. Final Notes: The chart leans toward a bullish continuation, but confirmation from volume and a breakout from the pennant are key before making any trades. Always manage risk carefully by setting stop losses and taking partial profits along the way. I hope this information assists you in making more informed decisions during your trading activities. Enjoy! Blaž Fabjan
Long
by elfabiiani
The difficult path for Bitcoin: don’t Miss the Critical EntryGood morning and good afternoon, traders 🌅. Welcome back to Strategy Master, the only crypto newsletter that dissects market cycles and alerts you before major reversals 🔄. Quick summary before we dive in: ✍️ Bitcoin’s 60-day Cycle low hit on September 6th – what’s next? ✍️ Ideal entry points for 1D, 3D, and 1W Cycles explained 🕵️‍♂️ 🎯The 26-Week Cycle breakdown – what to watch for in 2024 📅 🔔 Why Bitcoin staying above $50k is key to the current cycle 💪 As anticipated, Bitcoin hit its 60-day cycle low on September 6th and has been climbing 📈 ever since. Interestingly, Bitcoin showed impressive resilience, starting its upward move even before reaching the expected bottom of the 1-week cycle. Ok, Strategy Master, this sounds great, but I missed the trade! Where are the best entry points according to Cycle theory? 🎯 No worries 😅—cycles give us the clearest signals for optimal entries. Here’s where to look: ⏳ 60-Day Cycle: The best entry comes near the cycle lows (see the pink box 📦 around early September). If you missed this one, your next chance will come in about 45 days. 📉 1-Day Cycle: Wait for the 1-day cycle to reverse from falling 📉 to rising 📈 (ideally when the indicator is below 20). The last time it flipped was on September 16th. Typically, after hitting 80, it takes ~7 days to return to 20 again. 📊 3-Day Cycle: The ideal time to enter is when the 3-day cycle indicator starts rising 📈, or when it’s below 20. However, the 1-day cycle must also be in the right position. If the 3-day indicator reverses upwards but the 1-day is still above 80 ⚖️, it’s better to wait for a cool-down. On September 17th, both the 1-day and 3-day cycles lined up perfectly. 🗓️ 1-Week Cycle: This cycle is more significant 🔑 than the 3-day because it reflects a longer trend (1-2 months 📅). You can enter once the 1-day condition is met—no need to wait for the 3-day confirmation. Again, September 17th presented a perfect setup (1-week reversal) 🎯. Strategy Master, you’ve previously mentioned Bitcoin’s 26-week cycles. How does that fit into this picture? 🤔 Bitcoin operates on 60-day cycles, with three such cycles typically making up one 26-week cycle. In bull markets 🐂, the first 60-day cycle is usually the strongest 💥 and tends to be “right-translated” (the peak occurs in the second half of the cycle). The final cycle, however, is often “left-translated,” with the top appearing in the first 30 days. In early 2024, we saw the 26-week cycle bottom in January 🏞️, followed by a strong rally from February to March 🏁. However, after that, two left-translated 60-day cycles led us to the 26-week cycle low in July. It’s important to remember that 26-week cycles don’t always last exactly 26 weeks ⏱️. Since 60-day cycles can vary from 45 to 68 days, 26-week cycles can stretch from 20 to 30 weeks 📅. Rarely, they can even deviate beyond that, as we saw in August 2023 when the 26-week cycle lasted just 13 days before kicking off the current bull run 🚀. To better time these cycles, use the 1W Cycle Indicator or the Weekly Stoch RSI (set RSI and Stoch Length to 9) to identify 26-week cycle bottoms 🔻. Ok, Master, what if the first 60-day cycle of the 26-week cycle is bearish 🐻, like it was this time? When the first 60-day cycle is bearish 😓, the odds lean heavily toward a bearish 26-week cycle. Look back at previous bear markets 📉 and their weekly cycles to see the pattern. If the start of the 26-week cycle doesn’t surge upward 🛫, it’s usually a signal of a bearish cycle ⚠️. In such cases, it’s often wiser to wait for the next 26-week cycle low before entering the market ⏳. So, is the current 26-week cycle starting bearish too? Correct! ✅ That’s why I’m not allocating heavily 💡 right now. Based on traditional weekly cycle patterns, it’s better to wait for the 26-week cycle bottom before making any major moves 📉. Bitcoin could reverse its trend by the end of 2024 The market is in an unusual state 🌀. Both the Stoch RSI and the 1-week cycle indicator aren’t giving clear signals ❓ for the next cycle, and Bitcoin has had two failed weekly cycles in a row 🚩 (when the cycle fails to hit 80 and reverses downward). This makes it a particularly risky time ⚠️ to enter the market for the short to medium term (1-2 months 📅). But wait … we can’t break the $50,000 level, right? 💵 We can, but if it happens, the break is likely to be brief 🌬️, making it a great buying opportunity 💼. Given the current conditions, it’s improbable that we’ll slide into a full-blown bear market 🐻 just yet. In the most likely scenario, Bitcoin will stay above $50,000 for the remainder of this 26-week cycle, showing just how resilient it is 💪.
BINANCE:BTCUSD
by TheStrategyMaster
Bitcoin Approaching Critical Support: Prepare for a Big MoveBitcoin is entering a decisive phase this September, with a Descending Broadening Wedge pattern forming on both the weekly and daily charts. This pattern typically signals potential volatility, and we are now approaching the descending support trendline, which also aligns with the wick from the sharp price dump on August 5th. This region, around 48K, is likely to be tested in the coming days as the market seeks to sweep liquidity. Key Support Zones to Watch: Crucial Support Zone 1: The first line of defense. If Bitcoin holds here, we could start seeing signs of bullish momentum returning. Crucial Support Zone 2: A deeper level of support. Breaking below this zone could lead to a more extended bearish trend. In the event that these levels are broken and confirmation bearish candles start forming, we could see Bitcoin testing 42K, 40K, and even 36K in the weeks ahead. However, if Bitcoin holds these zones and begins to print higher highs (HH) and higher lows (HL), it would be an early sign that the downtrend might be over. Also an important element in this setup is the 100-day EMA, which aligns perfectly with Crucial Support Zone 2. This adds a layer of confidence that the price may find strong support here. The confluence of the 100-day EMA with this key support level suggests that a touch of this zone could trigger the next major move, potentially kickstarting a rally. Strategy for Traders: Swing Traders/Spot Traders: Pay close attention to the support zones, as these levels could present excellent buying opportunities. A bounce from these areas might indicate the start of a new rally, so it’s time to prepare and fill your bags. Scalpers: Be mindful of the resistance zones. The price may spike slightly before retesting lower levels, providing potential shorting opportunities. Watch closely for a "soft" or "hard" landing around 50K-48K. Caution: Bull Trap Alert If Bitcoin encounters a pump in the near term, be cautious about falling into a bull trap. All signs currently point to a retest of the 50K and 48K zones as highly probable, so don’t get caught up in premature optimism.
by MadeByAK
Remember! Remember! The 5th of November!Thursday... the 5th of November 2020... CRYPTOCAP:BTC pumped nearly 7% in one day. We were 30ish days into the parabolic phase of the 3rd bull cycle for #Bitcoin. It was trading at $14,911. The holders had no idea that CRYPTOCAP:BTC would continue to climb an additional 335% over another 5 months, reaching a local ATH of $64,895 on April 14th 2021. Here we are on September 6th, 2024. CRYPTOCAP:BTC dropped to $52,546 or (-3.8%) for the day. Septembers are a sore subject when it comes to financial markets and Bitcoin in particular. Across the Post-Halving years, CRYPTOCAP:BTC will drop -2% historically. Considering CRYPTOCAP:BTC has tested local lows across the 5th and 6th of the last 3 months; July 5-6th low: $53,499 August 5-6th low: $49,050 September 5-6th low: $52,546 (so far) It is almost like someone is trolling the Holders... The focus of this chart is to consider the above and the following. Have we found our local bottom this early in September? ($52,546) How will Bitcoin react to the upcoming 25 bps Fed Rate cut? ($50,000 vs $60,000) Will our price position entering the parabolic phase affect the overall gains over the next 6 months? (90% vs 480%) Where will our new ATH fall next April/May? ($100,000 vs $305,000) Let me know how bearish or bullish you think the future of Bitcoin is.
COINBASE:BTCUSDLong
by RILOBUYLOW