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Bitcoin on the Weekly Timeframe#Bitcoin Elliott Waves analysis does not specify the target but rather indicates the path. This means that as long as the price is reaching new highs, we can continue following the price’s upward movement until we label 5 smaller waves. At that point, caution and profit-taking should begin. Based on the Fibonacci extension from wave 1 with the bottom of wave 4, the target range is between approximately $99,000 and $150,000. However, an extension could occur, making wave 5 the longest, and the price could reach up to $240,000, which serves as resistance. We cannot confirm anything definitively until observing price movement during the rise.
INDEX:BTCUSDLong
by MohamedSewid
1
85-88K is the next oneMorning folks, So, BTC has made a historical breakout. But for those who read our monthly report it is not a surprise. This is long term game and the pumping process is just starting. If you want to know what is really going on - you could read it. Meantime, we consider 85-88K as the next upside target. If BTC will show pullback prior it will reach it, then 73K seems like interesting level to consider for long entry. If pullback will start after 85-88K will be completed - then do not hurry up with position taking as retracement might be deeper. We do not consider any short positions for now.
COINBASE:BTCUSDLong
by Sive-Morten
2
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.
CME:BTC1!
by FOREXN1
1
BITCOIN IS EXPLOADING BIG TIME. TECHNICAL ANALYSIS + TRADE PLANPrice Action & Trend: Bitcoin's current price is around $80,853. The trend is notably bullish, as the price has been in an upward movement with higher highs and higher lows over the past month. The recent price surge indicates strong bullish momentum, potentially aiming for higher resistance levels. Indicators: Market Cipher B: This indicator shows divergences and momentum shifts, often used for trend reversals. Current green dots indicate bullish momentum, and the increasing wave strength suggests strong upward pressure. RSI (Relative Strength Index): RSI is around 74.81, which is within the overbought zone (above 70). This could mean a potential correction or consolidation period might be approaching, as prices may have risen too quickly. Stochastic RSI: The Stochastic RSI shows a value around 89.86, which is also in the overbought zone. This indicator further supports the potential for a short-term pullback or consolidation. HMA Histogram (Hull Moving Average): The histogram shows bullish momentum, but there are hints of divergence, which could indicate a slowdown in bullish strength. Support and Resistance Levels: Support: The nearest strong support is around $72,000. A more significant level sits at approximately $63,000. Resistance: With Bitcoin at $80,853, the next major resistance is likely near $85,000 and then potentially $92,000. Volume: Although volume data isn’t available in this chart, the current price movement suggests significant buying pressure, likely driven by strong sentiment and high interest. Trading Plan Long Position (Buy): Entry: A conservative entry would be to wait for a pullback around the $78,000-$80,000 range, which could act as a minor support in the current bullish setup. Stop Loss: Place a stop-loss just below $72,000, as a break below this level could indicate a shift in trend. Take Profit: Set a target near $85,000 initially. If bullish momentum continues, the next target would be $92,000. Risk-Reward Ratio: Ensure a minimum risk-reward ratio of 2:1 for this trade to manage risk effectively. Short Position (Sell): Given the overbought conditions on both the RSI and Stochastic RSI, a short-term short position could be considered. Entry: Consider shorting near $85,000 if the price reaches this level quickly without consolidation. Stop Loss: Place a stop-loss above $87,000 to protect against a continued breakout. Take Profit: Target a pullback to the $78,000 region or further down to $72,000 if bearish signals strengthen. Risk Management: Limit exposure to a small percentage of the portfolio per trade (e.g., 1-2%) to manage volatility. Monitor key indicators (RSI, Stochastic, Market Cipher B) for any signs of trend exhaustion or divergence that could signal a reversal. Market Sentiment & News Monitoring: Keep an eye on market news that could impact Bitcoin’s price, such as regulatory announcements or macroeconomic factors. Bitcoin’s price can be highly sensitive to sentiment-driven events, so being adaptable to changing market conditions is essential.
by elfabiiani
2
Is Bitcoin on the Verge of a Major Breakout?Yello, Paradisers! Did you catch #BTCUSDT's bounce from that double bottom support? If not, you might be missing out on the start of a major trend reversal! Here’s what you need to know right now before it's too late. 💎#Bitcoin has bounced back from the double bottom support band, forming a strong bottoming structure that often signals the beginning of a trend reversal. Right now, Bitcoin’s key metrics indicate we are standing at a crucial breakout point, with the price facing pivotal resistance between the $65,000 to $65,800 levels. This is the zone that bulls must conquer to transition Bitcoin from simply bullish to hyper bullish. 💎Once this resistance level is broken, Bitcoin is expected to surge toward the $70,000 psychological barrier. However, caution is advised as the range between $70,000 and $72,000 presents a strong resistance zone, where we could see significant profit-taking. This region is the major turning point for Bitcoin to be open towards the All-Time High Approach. Strength above 72,000 puts bulls in a major contest for a new yearly ATH level. 💎The EMA bands are also showing a positive shift, turning upward once again and suggesting that we may be entering a changing market environment. On the downside, intra-day supports are found at $62,350 and $60,700, providing some immediate protection. The key base support lies between $59,800 and $58,800, which is crucial for maintaining bullish momentum. 💎All eyes are on these levels—Bitcoin is positioned for a significant move, and how it handles these critical resistance points will determine the direction of the trend in the coming weeks. Remember, Paradisers, patience and discipline are key here. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Jack
2
APT Long Spot Trade (Retest of Breakout)Market Context: APT has shown strong momentum with an impressive breakout beyond its accumulation range. We are now looking for a retest of the former resistance zone ($9 - $10), expecting this level to hold as new support for the next leg up. Trade Setup: Entry: Ladder into a long spot trade between $9 - $10 Take Profit: First target: $16.5 Second target: $19 Third target: $26 Stop Loss: Daily close below $8 This setup aims to capture further upside as APT establishes support at the retested level. #APT
Long
by Richtv_official
Nov.05-Nov.11(BTC)Weekly market recapLast week, Trump defeated Democratic candidate Harris on Wednesday to win the 2024 U.S. presidential election, following his promises of several supportive cryptocurrency initiatives that are expected to materialize. These include the dismissal of the Chair of the U.S. Securities and Exchange Commission (SEC), the establishment of a strategic BTC reserve to hold digital currencies obtained from assets seized from financial criminals by the federal government, and the promotion of the U.S. BTC mining industry, with the hope that the remaining global BTC will be mined in the United States. Currently, the U.S. is in a rate-cutting cycle, with a reduction already implemented on November 8, and another expected this year. As long as the CPI data on November 13 does not exceed expectations, the likelihood of further rate cuts is significant. Last week, there was a substantial net inflow into BTC ETFs, indicating that following Trump's victory, the favorable monetary policy has sparked optimism and speculative behavior among investors, leading to a significant influx of capital into the cryptocurrency market. Given the current landscape, the cryptocurrency-friendly regulatory environment, the substantial inflow of funds into BTC ETFs, and the macroeconomic benefits of the Federal Reserve's rate cuts are all catalysts for BTC's rise last week and its potential future increases. BTC exhibited a one-sided upward trend last week, continuously reaching new highs near $90,000. The WTA indicator shows the appearance of blue bars representing whales. This macro shift is beginning to attract large capital. The purple wave area on the ME indicator is widening, indicating strengthening bullish sentiment. In summary, we believe BTC may rise this week, but caution is warranted regarding potential pullbacks. We have adjusted the resistance level to $90,000 and the support level to $79,000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSDLong
by Sypool
SMA Golden Ratio | CYCLE 4 ATH UpdateIn accordance with historical behavior, BTCs ATH each cycle has corresponded with the next SMA line down (following a multiplication factor of the Fibonacci sequence). As observed in CYCLE 3, BTC tag the BLUE line putting in the Technical High of this cycle meaning CYCLE 4 should tag the Yellow line if History is to repeat. The Second and ATH top of CYCLE 3 tag two lines down hitting the gray line. We can see BTC has already tag the Yellow line when BTC tage ~73K USD. Looking at CYCLE 3, BTC played with the BLUE line multiple times before settling with the top. Considering this in CYCLE 4 BTC may make another attempt at intercepting the Yellow line again depending no how parabolic BTC will be over the AUS summer period will land the price in the zones discussed in the below post. BTC in CYCLE 4 may also contact the gray line and in this scenario most tops out around the 100K region December 2024 / January 2025.
BITSTAMP:BTCUSDLong
by Brodie
BUY / SELL INDICATOR| CYCLE 4 ATH UpdateAssuming we reach the Light Red line again of the BUY / SELL indicator, as per our analysis in the below post this could suggest an ATH for CYCLE 4 could land in the 117K to 157K region. It is noted while it was the second top in CYCLE 3; our purple line met / crossed but did not exceed past our orange signal line materially (see red arrow above). This marked the second and ATH of Cycle 3. We are approaching this scenario with the orange and purple line as we approach the mid 90K region (see cross and second red arrow above). Worth tracking on your radar. Again if we continued on as we have with prior cycles and reach either or both the Red Lines of the BUY / SELL indicator we would be expecting a very parabolic period ahead.
BITSTAMP:BTCUSDLong
by Brodie
Is the ADABTC bottom in?Here are a couple potential ADAUSD prices if it can reach the ≈0.00006 level of the prior two bull runs. 150k BTC = $9 ADA 200k BTC = $12 ADA These ADA prices are most likely at the high end of probable tops for ADAUSD. ADABTC very well may not reach its prior highs, but once BTCUSD slows down similar to early 2021 expect ADA to gain a lot ground. Cardano is a staple in the cryptocurrency scene and will not be left behind this bull market. A 100k+ Bitcoin will bring a lot of attention and people will see ADA as a "cheaper" alternative to Ethereum and Solana and identify its potential for large gains. I am confident ADAUSD will reach its prior ATH and then some.
Long
by mascher7675
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.
Long
by Devan-CryptoCharts
BTC, very bullish outlookAs promised here is my interpretation of the Bitcoin chart using Elliot wave analysis. The flag breakout is very close to the final confirmation with a break above 69400. We completed a first 1 - 2 setup at the 6th of September. The most likely case is, that we are in the third wave now, leading towards 80k, with a final target for this cycle around 88k. If BTC will confirm this scenario tomorrow with a break above the mentioned 69400 level, there is no reason the test the flag again soon. First target is 73k to the the ATH.
INDEX:BTCUSDLong
by Kyrean