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Market Watch: Trends, Patterns, and Trading OpportunitiesMarket Analysis - April 16, 2024 by André Cardoso The insights presented in this summary are intended to assist traders and investors in understanding market dynamics and identifying potential trading opportunities. I hope this summary proves to be informative and helpful to you, our readers, in your investment decisions and trading strategies. TVC:DXY The DXY is encountering channel resistance and exhibiting a bearish Gartley pattern. TVC:US10Y US10Y bonds are also nearing channel resistance and have already reached the target for the previously formed cup and handle pattern. OANDA:SPX500USD The SPX500 is currently trading near the 0.382% Fibonacci retracement level, potentially serving as a support element. FX:GER30 The German DAX is showing signs of potential short-term recovery after breaking previous lows and fractal support. OANDA:XAGUSD Silver is reacting lower after encountering channel resistance and hitting the target for the cup and handle pattern formed at lower levels. OANDA:WTICOUSD Crude oil remains in bearish crab pattern territory unless the geopolitical situation between Israel and Iran escalates; we still expect a pullback. FX:GBPUSD The GBP is forming a bullish crab pattern as previously projected. OANDA:NZDUSD The NZD is facing channel support; we should pay attention to tonight's CPI data. OANDA:USDCHF The CHF has completed what appears to be a five-wave structure to the upside in Elliott Wave theory, which opens the door for a pullback. OANDA:USDNOK The NOK printed a bearish shark pattern pushed at the 224% Fibonacci extension. Japanese Yen (JPY) Pairs: JPY pairs have printed a nice "V" shape recovery, but I still expect bullish crab patterns for AUD and NZD versus JPY to form at lower levels. OANDA:EURAUD The EUR/AUD pair may also be affected by tonight's CPI data; we have a bearish crab pattern projected at the golden Fibonacci extension to consider. OANDA:EURNZD The EUR/NZD pair is approaching previous highs and major resistance, with a bearish shark pattern on hold at higher levels. FX:GBPAUD For the GBP/AUD pair, I have a bearish alt-bat pattern projected at the 113% Fibonacci extension; if reached, it may offer a pullback to last week's previous resistance levels. BITSTAMP:BTCUSD To wrap up with BTC/USD, a bullish crab pattern that I projected earlier in the week at $60k remains my primary focus for the cryptocurrency. Printing new lows below $61,308 (new fractal support) will place the cryptocurrency very close to forming the projected pattern concretely at $59,462. Thank you for reviewing this summary of the financial markets. I hope it proves valuable for your trading decisions. Stay tuned for more updates, and more educational content. André Cardoso
BITSTAMP:BTCUSD
by Andre_Cardoso
Bitcoin's Halving Effect: Analyzing Patterns and PossibilitiesBitcoin's fourth halving, set to occur in less than a month, marks a pivotal event in its history, embedded within its code to occur every four years or after the addition of 210,000 blocks to the blockchain. These halvings are a cornerstone of Bitcoin's monetary policy, halving its supply growth rate each time. Expected around April 20, this upcoming halving will reduce Bitcoin's supply growth to about 0.8% annually. Historically, halvings have had a significant impact on Bitcoin's price, and this one appears to be no exception. Here's why purchasing Bitcoin before April 20 remains a prudent move. Each halving fundamentally shifts the supply-demand dynamics. By reducing the rate of new Bitcoin introduction, halvings create a scenario where, even with steady demand, the price must rise to compensate for the reduced supply growth. This trend is evident in Bitcoin's performance during halving years, where it has surged approximately 125% on average. However, it's the year following a halving that typically sees the most substantial gains. On average, Bitcoin has surged by an impressive 415% in the year following a halving. This means that an initial investment of $1,000 could potentially exceed $5,000. While past performance is not indicative of future results, there are compelling signs that this halving could follow a similar trajectory to its predecessors, if not surpass them. Renowned crypto analyst Benjamin Cowen's analysis suggests that Bitcoin's performance leading up to and during the current halving year mirrors historical patterns. Moreover, Bitcoin's current outperformance relative to past halving years indicates a potentially bullish trend. This halving is unique in that it occurs amidst a backdrop of fewer coins available on exchanges compared to previous halvings. Additionally, newly approved spot Bitcoin exchange-traded funds (ETFs) are expected to increase demand. However, it's crucial to provide context and consider Bitcoin's long-term trajectory. Historically, two years after a halving, Bitcoin's price tends to experience significant declines. Investors must adopt a long-term perspective, as Bitcoin's cyclical price movements indicate that patience is key. Bitcoin rewards those who endure post-halving declines, with each halving cycle compounding gains over time. While it's not too late to invest in Bitcoin, investors must understand the importance of patience and long-term holding. With a deeper understanding of Bitcoin's dynamics, investors can navigate the fluctuations of each halving cycle with confidence.
COINBASE:BTCUSDLong
by FOREXN1
7
💣 BITCOIN new ATH 75000$ 💣Hello 🐋 Considering the chart high volume, the shape of pattern, candles and support area 👌💪 I anticipate upside gains, with a primary target of at least 73k to 76k 📈🤞 it is logical to see some stop loss hunting and shadow candles too so watch your stop loss 🧨💣 it is possible to see some range movement or red candlesticks too 📚💡 beside 68000 is significant daily support area for this theory 📚✔ 👌 Attention: Take note of the price in the condensed chart (positioned below the primary chart in black). 📖💡 Feel free to express your perspective by commenting below. Thanks! 🐋
Long
by MadWhale
12
Exploring the Potential of OGV (Origin Governance) As the digital currency landscape continues to evolve, one token that's been drawing attention from the trading community is OGV (Origin Governance). This token represents a significant step forward in decentralized finance (DeFi), offering users a unique opportunity to participate in the governance of the Origin platform. What Makes OGV Stand Out? OGV is not just another token in the vast sea of cryptocurrencies. It's the backbone of the Origin platform's governance model, allowing token holders to influence decisions and the future direction of the ecosystem. This level of engagement is what many investors and enthusiasts find appealing, as it provides a sense of ownership and contribution to the project's success. The Future of OGV While the cryptocurrency market is known for its volatility, the underlying technology and community support of OGV suggest a promising future. The team behind Origin has continuously worked on enhancing the platform's features and usability, aiming to make decentralized finance more accessible and efficient. OGV (Origin Governance) presents an intriguing opportunity for those interested in the governance and development of a leading DeFi platform. Its unique position in the market and the ongoing efforts of the Origin team could make it a noteworthy token in the days ahead. However, remember to approach trading with caution and make informed decisions.
OLong
by SophiaAnderson
BITCOIN trading advise... hi guys I'm msnp.. bitcoin is going up today and I wonder that what are you doing in this time? buying? selling? hodl? happy? worried? sad? so first of all lets see what happening on technical side : in last post about bitcoin we said everything you need when you sell and buy and now i see a channel , last move speed was so high and i think its unstable so be careful. if you are in the market: 1. you can hodl but be careful. 2. you can sell a little bit and wait for next opportunity. it's all on your strategy and personality if you fell fear or greed if you are waiting for 100k bitcoin or 20k bitcoin I have to say sorry pall market don't care about our idea, about our wishes (new home, new car ....) market a place without any sense, so OfCourse he can't understand our feelings. ok next if you are in cash don't worry you miss nothing just avoid of FOMO and be ready for another opportunity. im here for any questions and problems follow me and be happy
by imMsnP
2
Bitcoin's Next Halving - A Technical Analysis PerspectiveAs we approach the much-anticipated Bitcoin halving scheduled for April 19, 2024, it's essential for traders and investors to assess the potential price movements based on technical analysis. In this analysis, Bitcoin reached its previous all-time high (ATH) of November 8, 2021, while considering the formation of a Cup & Handle pattern and a retracement to the Fibonacci 0.618 level before the halving event. Previous ATH Resistance: Bitcoin's journey to its previous ATH on November 8, 2021, marked a significant milestone. The price action during this period resulted in a strong resistance level that traders should closely monitor. Psychological factors may come into play as Bitcoin attempts to breach this resistance, potentially leading to increased volatility. Cup & Handle Formation: A Cup & Handle pattern is a bullish continuation pattern often seen as a signal of a potential upward trend. In the context of Bitcoin's price chart leading up to the next halving, the market may exhibit a Cup & Handle formation. Traders should be vigilant for the cup formation, followed by a brief consolidation forming the handle. The breakout from the handle could signal a strong bullish momentum. Fibonacci Retracement to 0.618 Level: Technical analysts commonly use Fibonacci retracement levels to identify potential support or resistance zones. In this scenario, a retracement to the 0.618 Fibonacci level, approximately around the $50,000 mark or potentially lower, could serve as a critical support level. This retracement could provide a buying opportunity for traders looking to enter the market before the halving event. Halving Impact: Historically, Bitcoin halving events have been associated with significant price movements. The reduction in block rewards tends to create scarcity, potentially driving up demand and prices. As we approach the April 19, 2024, halving, it's crucial to factor in this fundamental aspect when making trading decisions. Conclusion: In summary, the technical analysis suggests a potential scenario where Bitcoin retraces to the Fibonacci 0.618 level, forming a Cup & Handle pattern before the April 19, 2024, halving. Traders should remain vigilant at the previous ATH resistance level and be prepared for increased volatility. The halving event itself may act as a catalyst for a bullish trend, but market participants should carefully monitor key technical levels and consider risk management strategies in their trading decisions. As always, it's essential to adapt to changing market conditions and reassess the analysis based on real-time price action. Note: Not Financial Advice
CRYPTO:BTCUSD
by sailortrades
Black Rock push Bitcoin price to new highs, But Bitcoin is aboutAs the United States continues to approve Bitcoin spot ETFs, more and more funds are entering the market. Undoubtedly, these institutions have made a lot of profits. However, the bull market for Bitcoin cannot last forever: The overall economic performance in the United States is struggling, and the issue of inflation has not been fundamentally resolved. The Federal Reserve is likely to postpone interest rate cuts. Continued interest rate hikes could lead to a sharp decline in Bitcoin prices. The current attitude of the United States towards Bitcoin remains delicate, and approving a few ETFs is not a particularly significant positive. Nevertheless, it remains a key factor driving the rise in Bitcoin prices, and I believe the market's imagination is overly optimistic. For any country, it is not yet time to compete for the pricing power of Bitcoin. Therefore, when the delicate attitude shifts, the market may panic, causing a decline in Bitcoin prices. The news of Bitcoin's halving has fueled a continuous rise in its price. However, the problem is that this information has been known for a long time and has already driven the market higher. It should not be a reason to continue pushing prices. When Bitcoin's halving actually occurs, the price of Bitcoin may decline. I believe the current market is overly irrational, with a significant influx of funds leading to a continuous rise in Bitcoin prices. However, I think we are not far from a sharp decline in prices. The current market risks are substantial, and there are ample reasons for a downturn.
BITSTAMP:BTCUSDShort
by yangyangyyds
13
📈Bitcoin Next Stage 70K? / 2 Scenarios ahead of Investors📉BINANCE:BTCUSDT COINBASE:BTCUSD Hello dear traders. The cryptocurrency market has entered its bullish rally, but keep in mind that Bitcoin miners are planning to sell their Bitcoin before the halving event in order to make a good profit from this price growth. Considering that the price is approaching the Fibonacci channel, the possibility of price correction in the coming weeks is very high. Following the previous Bitcoin analysis, I closed my positions at around $50,000 and am not going to enter the trade on the current weekly candle, right now I am waiting for the next 3 days ahead. The ATR level in period 3 shows around 8500, if the last weekly candle remains above this value, the price trend of the next week will be bullish. ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾
Long
by CrazyS
Bitcoin Halving: Before and After Price TrendsBitcoin Halving: Catalyst for Price Surges? Historically, Bitcoin's price has shown a tendency to increase after a halving event, although the exact dynamics can be influenced by a myriad of factors beyond just the halving itself, such as market sentiment, global economic conditions, and technological advancements within the blockchain ecosystem. Here's a brief overview of the price behavior around the past halving events: 1. **First Halving (November 28, 2012):** - **Before Halving:** The price was around $11. - **After Halving:** The price increased over the following year, reaching over $1,000 in November 2013. 2. **Second Halving (July 9, 2016):** - **Before Halving:** The price was around $650. - **After Halving:** The price trended upwards, reaching nearly $20,000 by December 2017. 3. **Third Halving (May 11, 2020):** - **Before Halving:** The price was around $8,600. - **After Halving:** The price saw a significant increase, peaking at over $64,000 in April 2021. It's important to note that while halving events tend to reduce the supply of new Bitcoins entering the market, leading to potential price increases, each halving event occurs in a unique market and global economic context. Therefore, while historical data can provide insights, it is not a guaranteed predictor of future price movements. Investors are always advised to conduct thorough research and consider multiple factors before making investment decisions.
BITSTAMP:BTCUSD
by awsmtrades
My Bitcoin Limit Order At 57.601Based on a Fibonacci starting at the low Monday February 26th and running to the high (wick) Wednesday February 28th and resistance at the 0.5 Fibonacci on the 27th... Thinking 57,600.00 is a possible limit order especially If volume decreases. The directional index and ADX are slowly trending down on the hourly chart. The Squeeze momentum indicator is heavy green but slowly trending down as well. The 57,600.00 is a bit of an optimists limit order and I am in based on the "why not" theory. Note the 200ma (white) is right on the 0.786 fib and a possible wick buy as well. Using an hourly chart because it's what most play on short candles. Compare and 45min, 4h and daily as well.
COINBASE:BTCUSD
by cowboycraig
MY IDEA FOR BITCOIN(BTC) UP TO ....., READ THE CAPTIONBitcoin has surged to impressive heights, marking a remarkable 26-month high as it soared to $53,360, a gain of over 4.6% within just 24 hours. Analysts are buzzing with excitement, with some like Ali Martinez pointing out the significant activity among Bitcoin whales. 🐋 These major players in the crypto market seem to be going parabolic, indicating a bullish sentiment and fueling speculation about a potential rally towards $60,500. It's a testament to the growing interest and confidence in Bitcoin as it continues to make strides in the financial landscape. 📈🚀 What do you think about this please leave your comments, for more uptades and analysis like comments and follow thank you for your love and support.
BITSTAMP:BTCUSDLong
by Forex_Haleh_signals_professor