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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
Bitcoin Warming Up: $74K Breakout or a Pit Stop at $66K?Good morning, Trading Family! Bitcoin is in cruising mode, hovering around $68K, and the market’s energy is building. Will it rev up and shoot toward $74K, or will it need a breather and drift back to $66K? It’s like watching BTC decide if it’s ready to party or just stretch out on the couch for a while. With key levels in play—$68K acting as the middle ground—it’s all about which side grabs the wheel. Green arrows are signaling a breakout if momentum kicks in, but those red arrows are lurking, ready to drag it back down if buyers run out of steam. Stay patient and focused. Trade what you see, not what you hope for. – Mindbloome Trader
BITSTAMP:BTCUSD
by Mindbloome-Trading
Ethereum to 3000$ - ETH POSSIBLE SWING ZONEHello friends, Crypto markets and risk assets have been performing well recently. Bitcoin is beginning its delayed bullish momentum and catching up with indices like the S&P 500. Ethereum and altcoins are also following this bullish trend. I believe we may see Ethereum experience a small retracement to the marked zone labeled as the 'Long Zone,' and from there, it could take off toward Target 1 and Target 2, eventually reaching $3,000 in my opinion. The 'Long Zone' is the area where I consider a swing position for Ethereum. Of course, don’t forget about the geopolitical risks and the U.S. elections on November 5th. The momentum could shift significantly if we receive negative news. Please be cautious and avoid taking risks that you aren’t prepared to lose. Nothing I share is financial advice. For educational purposes only.
Long
by UA_CAPITAL
BTC Dominance Analysis📌 Trading Instrument: 📌 🔶 BTC Dominance (BTC.D) 🔶 📝 Detailed Market Overview: 📝 Bitcoin Dominance has reached an extremely bullish zone, nearing parabolic levels. Historically, such parabolic moves are often followed by a strong and fast correction. Currently, BTC.D is showing signs of bearish divergence, making it difficult to invalidate this signal. Additionally, BTC.D is around the 0.61-0.65 Fibonacci retracement level, a critical resistance zone. Over the next 2-3 weeks, I anticipate a breakdown in BTC dominance. A confirmation of this will come if BTC.D breaks below the green diagonal support trendline, which has supported this uptrend for over 700 days. Upon breaking this support, a retest of the previous key resistance, which is now expected to act as support, will likely occur around the 47-48% dominance level. This zone has not been retested since the breakout, and it aligns with the 0.5 Fibonacci retracement level. If BTC.D moves a bit higher before the rejection, this key level would coincide with the 0.61-0.65 Fibonacci zone, often referred to as the golden pocket, making it a high-probability reversal zone. Following this correction, I expect BTC dominance to resume its upward momentum, targeting a minimum of 79-80% dominance in the longer term. 🔍 Key Signals: Bearish divergence on multiple timeframes. Proximity to the 0.61-0.65 Fibonacci retracement level. A potential breakdown of the 700-day diagonal support. 🎯 Bearish Target: 47-48% dominance (retest of key support) 🚀 Bullish Outlook After Rejection: A strong reversal after testing support could propel BTC dominance to 79-80% in the long run. ⚠️ Confirmation Needed: Watch for a break below the green diagonal trendline to confirm the top and initiate the bearish retracement. 🚨 Disclaimer: This is not financial advice. Always conduct your own research and trade responsibly. Markets are highly volatile, and you should only invest money you are prepared to lose.
CRYPTOCAP:BTC.D
by RhinoAkaBear
3
BTC DAILY BREAKING OUT??After 7.5 months of what what amounts to a HTF bullflag pattern, seemingly endless chop, bitcoin looks like it's finally breaking out above and continuing the Bullrun. This post doesn't need to be overly complicated, there are a few key factors on what is happening: - Bullish continuation, a bull flag pattern is just that, after a strong rally the corrective structure looks exactly like how the chart looks before continuing the next stage of the rally. Bitcoin has hit the red zone 9 times before the current breakout move, now that the daily structure has shown repetitive higher highs and higher lows for the first time it's signalled that Bitcoin is ready to continue the move higher. - US elections, every election year since 1928 traditional markets experience a rally, this year is no exception with the $S&P500, SKILLING:US100 & TVC:DJI all at ALL TIME HIGHS. As much as we crypto traders want crypto to be separate from Tradfi, reality is these markets matter and effect Bitcoin directly. '21 ATH has been major resistance all year for bitcoin, I could see that being the target for this breakout (should it be a successful breakout) before a retest of trend channel at $66,500 on the daily. All in all this is an exciting time in crypto, lots of volatility ahead come US election and beyond. Good luck everyone!
by ProR35
BTC's Accumulation Phase: Identifying Cycles and Support ZonesH ello, BTC has been in accumulation since spring this year. The white dotted lines show the accumulation curves. There are multiple cycles, each with a pump and a dump arm. The cycles might be different in size, but they share the green bottom support zone where large investors prefer to buy. Bitcoin has a bullish cross signal from the MACD indicator at the bottom. However, the current price is far above EMA 20/50/100/200. Thus, a dip might manifest to correct the price per the EMAs. There's a high probability that players will buy the dip, though and the bull run can continue. I wouldn't buy now because of the potential dip and because the price's at the falling trendline resistance. I aim for long positions, but I'd wait for a correction first and closely monitor how the price reacts around the falling resistance. Regards, Ely
BITSTAMP:BTCUSDLong
by Elysian_Mind
Harmony one is going up! Technical analysis + trade plan by BFChart Overview Timeframe: 4-hour (Binance Exchange) Price as of Analysis: $0.01346 Volume: 3.744 million ONE Formation: Falling Wedge pattern Chart Patterns and Indicators: Falling Wedge: A falling wedge pattern is typically a bullish reversal pattern, indicating that the current downward trend is weakening and a potential breakout to the upside could follow. The narrowing of price action shows a decline in both support and resistance levels, with lower highs and lower lows. The breakout is anticipated above the wedge resistance, potentially marking the beginning of an uptrend. The VMC Cipher B indicator is similar to the MACD and shows signs of bullish divergence, meaning that while the price has been declining, momentum is building for a potential reversal. The RSI is hovering around 50.25, which is neutral but can indicate momentum is shifting. If RSI starts increasing above 55, it will confirm bullish momentum. Stochastic Oscillator is currently at 35.30, this shows the asset is near the oversold zone but still in neutral territory. A move above 40 may confirm a bullish trend reversal. The HMA histogram shows early signs of turning bullish as the color changes and bars are in the process of shifting positive. Volume has decreased over the wedge formation, which is typical of such patterns. An increase in volume after the breakout will serve as confirmation for a stronger upward move. Potential Price Targets: Immediate Resistance: $0.01360 - This is the wedge resistance. A breakout above this level confirms the pattern. First Target: $0.01550 - Based on previous price levels, this area is the next resistance once the breakout occurs. Second Target: $0.01750 - This aligns with the previous significant high and could be a target after the first resistance. Risk Factors: Stop-Loss: It’s crucial to place a stop-loss below $0.01200 (below the previous support levels) to manage risk in case of a false breakout. Volume Confirmation: Ensure that the breakout occurs with significant volume, as low-volume breakouts may lead to a reversal back into the wedge. Trading Plan 1. Entry: Enter a long position after a confirmed breakout above the $0.01360 resistance with strong volume confirmation. A 4-hour candle close above this level should confirm the breakout. 2. Stop-Loss: Place a stop-loss slightly below $0.01200 to manage the downside risk in case the falling wedge pattern fails and the price reverses. 3. Profit Targets: First Target: Set a take-profit around $0.01550 to capture the first major move after the breakout. Second Target: For those with a higher risk appetite, target $0.01750, which aligns with the next resistance. 4. Position Size: Risk only 1-2% of your trading capital on this trade. Given the potential volatility and the falling wedge pattern, it's essential to manage position size conservatively. 5. Monitoring: Keep an eye on the volume and the RSI/Stochastic Oscillator. If RSI rises above 55 and Stochastic confirms the upward movement, the breakout should gain more strength. Monitor for any potential fake breakouts. If the price fails to close above the resistance on the 4-hour chart, consider delaying the entry until clear confirmation is given. The Harmony (ONE/USDT) chart is showing a potentially bullish falling wedge formation, indicating that a reversal from the recent downtrend could occur soon. A breakout above $0.01360 with confirmed volume is crucial for confirming the uptrend. If confirmed, Harmony could target $0.01550 and $0.01750 in the near term, but it's important to employ tight risk management through proper stop-loss placement.
Long
by elfabiiani
1
BITCOIN One year later, the pattern is repeated and leads to 88kThis is not the first time we make a case for October being the start of an aggressive rally for Bitcoin (BTCUSD) and lately we have presented you the evidence on the long-term 1W time-frame. This time we want to focus on the 1D chart, where a more detailed analysis can be made on the fractals that lead to this rally. It was the very same pattern that helped us catch last year the amazing October 2023 - March 2024 rally, as you can see on our September 28 2023 post (see chart below): As you can see both fractals (2023 and 2024) traded initially within a Triangle pattern that bottomed on an Inverse Head and Shoulders (IH&S). The bottom took place at the same time of the 1D Death Cross formation. Throughout the whole process, they were supported by the 1W MA50 (red trend-line). Right now on the October 2024 fractal we are at the point where BTC just broke above the top (Lower Highs trend-line) of the Triangle. On the 2023 fractal that led to a brutal rise that only took a 'break' after reaching the 2.0 Fibonacci extension, right after forming a 1D Golden Cross. As a result, it is possible to see $88000 (Fib 2.0 ext) in December, before the market 'cools' again. Much of course will depend upon how the markets will digest the November U.S. elections but as we've shown you in analytical charts here, the result of event tends to make little difference. So what do you think? Can this break-out lead to 88k? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
BTC/USDT Analysis Update!Bitcoin is currently consolidating within an ascending triangle pattern, indicating potential bullish momentum. The price action suggests an attempt to break a crucial horizontal supply zone, which could act as a crucial hurdle for further gains. The formation of an ascending triangle is typically a bullish continuation pattern, indicating the possibility of an upside breakout. Bitcoin is testing a crucial supply zone, where sellers have been active previously. A decisive breakout above this zone would confirm the bullish trend. Consider a long position on a confirmed breakout above the supply zone with strong volumes. A stop-loss can be placed just below the lower boundary of the ascending triangle to manage risk. Look for potential profit targets around the next resistance levels or key psychological levels. This setup needs to be monitored closely as market volatility could increase in the coming days. Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed. You can DM us for information on any other coin. @Peter_CSAdmin
by CryptoSanders9563
Goatseus Maximus NO.1 MEME FOR THIS BULLRUN (TA+TRADE PLAN)TECHNICAL ANALYSIS + TRADE PLAN BY BLAŽ FABJAN WHY GOATSEUS MAXIMUS IS THE NO.1 MEMECOIN OF THIS BULLRUN: 🚀🚀 GOATSEUS MAXIMUS IS THE NEXT MEMECOIN MOONSHOT! 🚀🚀 Massive Hype: With a loyal community backing and meme-driven momentum, Goatseus Maximus is poised to take over the meme-coin space! Bullish Sentiment: The charts don’t lie! All technical indicators are showing a solid upward trend, making it the perfect time to jump in and ride the wave to MAXIMUM PROFITS! Potential for Explosive Gains: At just $0.2375, this memecoin is undervalued but ready to explode with the next wave of FOMO. Get in before it’s too late! Market Pair: GOATUSDT (BitMart Exchange) Price Action: Goatseus Maximus (GOATUSDT) is currently trading at $0.2375, experiencing an 8.34% drop from a recent high of $0.2997. Volume: 289.336K USDT, signaling a potential increase in interest. Price Pattern: An upward trading channel is forming on the 4-hour chart. The price is bouncing between support and resistance within this channel, with clear upward momentum indicating the possibility of a breakout. The candlesticks suggest higher lows, indicating bullish sentiment is gradually building up. Price Projections: Immediate Resistance: $0.300 (key psychological and technical level) Support Level: $0.200 (within the lower bounds of the trading channel) Upside Targets: Should the breakout occur, the next target price could be $0.400 - $0.450, as indicated by the overall upward trajectory in the trading channel. Trading Plan: Entry Strategy: Consider entering a long position at $0.240 - $0.250 range, ensuring the price stays within the bullish channel. Place stop-loss below the $0.200 support level to protect against sudden market downturns. Profit Targets: First Take-Profit (TP1): $0.300, capturing gains at the upper resistance of the current channel. Second Take-Profit (TP2): $0.400 - $0.450, based on expected bullish breakout beyond the channel, leveraging strong momentum. Risk Management: Risk no more than 5% of your capital on this trade. Maintain a 1:3 risk-reward ratio, meaning for every $1 risked, expect $3 in profit if the trade plays out as anticipated. Prepare for an epic ride to the moon! 🌕
GLong
by elfabiiani
1
Bitcoin targets 70K! - #BTC AnalysisBitcoin and risk assets have been looking great lately. I believe the upward momentum will continue in the upcoming weeks. The golden bull run is coming for crypto, in my opinion. Current state: I believe we tested diagonal resistance and were rejected there (possibly taking profits from those who bought at the bottom). I would expect a retracement to the 'Long Zone' marked on the chart. The retracement may potentially take a bit longer and might create a range for a couple of days. However, after the retracement, I do expect to see 70K being smashed rapidly.
Long
by UA_CAPITAL
Support Zone: 64748.70-65920.71 Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- (BTCUSDT 1D chart) The M-Signal indicator on the 1D, 1W chart is formed in the 64748.70-65920.71 zone. Therefore, if the price is maintained above this zone, there is a high possibility that a stepwise uptrend will begin. Therefore, the point to watch is whether it rises along the trend line (1) and maintains the price above 68393.48 after around November 4th. If it rises above that, you should check for support near 71280.01. - The StochRSI indicator has currently entered the overbought zone. The rise to the overbought zone means that the upward trend is strong. Therefore, you should be careful when trading because there is a possibility that the upward trend will continue until it falls from the overbought zone. However, if the slope of the StochRSI indicator becomes gentle, the possibility of a downward turn increases, so you should think about a response plan for the decline. When this movement is shown, you should check if there are support and resistance points drawn on the 1M, 1W, and 1D charts, and if so, whether they are supported or resisted at those points. If you do not have support and resistance points drawn by yourself, there is no need to draw additional support and resistance points and create a response strategy. The reason is that additional support and resistance points or various chart tools drawn after the start of trading are likely to reflect your own psychological state. Then, there is a high possibility that it will be drawn according to the price volatility, so there is a high possibility that you will conduct the transaction incorrectly. It is important to start trading right now and make a profit, but I think it is most important to conduct the transaction according to the trading strategy that you originally planned. - If your psychological state has become unstable due to the price volatility, you need to make an effort to make your psychological state as stable as possible by selling in installments. If you do not, and continue to maintain an unstable state, you may end up suffering a large loss at one time, so you need to be careful. - How the StochRSI indicator is initialized, that is, whether it touches the oversold zone, is a point of observation to check the movement of the StochRSI indicator. Since the BW indicator fell from the highest point (100) on March 13, it has not touched the highest point (100) yet. This can be considered evidence that the upward strength is not strong. This time, the BW indicator will touch the highest point (100), so it is a point to watch whether the trend will change. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that the real uptrend will start when it rises above 29K. The section expected to be touched in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points where resistance is likely to occur in the future. We need to check if these points can be broken upward. We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
2024-10-15 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well. tl;dr Bitcoin - Bulls got follow through and are at my bullish target where I expect a reversal. The July high should hold and we are at the top of the bull wedge, touched the big bear trend line from ath and saw some decent selling above 67000. Swing short for me 66803, sl 70170. comment: Clear 3 legs up for the bulls. Big resistance 68000, two big patterns aligning and bears demonstrated selling pressure above 67000 and are currently trading below. Enough signals to see this as a reasonable short. current market cycle : trading range (big triangle on the daily chart) key levels: 60000 - 68000 bull case: Bulls moved up fast in the last 5 days but are at bigger resistance now. The bear trend line from the ath now held for 6 months, so do you really want to bet on a breakout above? Very hard to make a bull case here. If they break above 69000, I am surprised big time and we can only assume 70000 and higher next. Invalidation is below 64500. bear case: Bears have all the arguments they need to defend the bear trend line. Their next targets are 65000 and then a fight for the bull channel. Below 65000 is 63000 next, which marks my two-legged correction (ABC). I won’t squeeze more words out of these clear patterns. Invalidation is above 69000. short term: Bearish medium-long term - Update from 2024-10-06: Something between 49000 and 70000. Big surprise, I know. I don’t know if we get a breakout of this range in 2024 again. current swing trade: None trade of the day: Short 67000 because bulls could not hold this price since July. Buying 65000 was the next best trade and also obvious because we had a decent trading range there yesterday and in the Globex session.
CRYPTO:BTCUSDShort
by priceactiontds
Bitcoin (BTC): Rally Fueled by Election SpeculationBitcoin’s recent momentum seems unstoppable, and if it continues at this pace, we could see it challenge the All-Time High soon. Is the rally driven by election speculation? Quite possibly. Former President Donald Trump's growing lead over Vice President Kamala Harris is creating buzz, with decentralized prediction markets like Polymarket reflecting a widening gap between the two candidates. Trump's odds surged 13 points ahead of Harris by October 15. While Larry Fink may downplay the election's impact on the market, we disagree, as we anticipated Trump's increasing odds would begin influencing market sentiment. The recent surge in Bitcoin ETF inflows supports this view. With $550 million in inflows yesterday alone, the spike suggests that institutional investors, rather than retail, are fueling this rally. Institutional adoption continues to grow steadily, benefiting our spot BTC positions, which are printing gains once more. Ignoring a brief dip below the trend channel, Bitcoin has consistently respected it, aligning well with the support zone. Currently, BTC is trading slightly above the trend channel, facing resistance from an order block. While this resistance may hold for a while, we anticipate it will eventually break. However, a slight dip before that would present a valuable buying opportunity, which we aim to capitalize on. Zooming in on the VWAP chart, BTC has reclaimed the 2024 Q1 VAH but is now trading within a 12-hour Fair Value Gap (FVG). A pullback here would be ideal for positioning ourselves for the next leg up. With multiple levels aligning, we have two entry points prepared, and a flexible stop-loss strategy to manage the trades in real time.
CRYPTO:BTCUSDLong
by freeguy_by_wmc
Bitcoin Has Another Bull Run !Bitcoin has shown signs and patterns in the daily time frame that can be analyzed with the current data. It looks like a diametric has finished (A) and then the price has entered a bullish phase. In the bullish phase, we have an ABC/WXY whose A/W has the signs of a diamond diametric. We expect waves X and Y because the time of wave A is much larger than the current pattern (A/W). The green range could be the start of a bull run in Bitcoin. Closing a daily candle below the invalidation level will violate the analysis. Note : This is only a possible scenario, please do not forget to manage risk For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
5
Top of Our Channel Tagged to the Dollar!Here we are again traders. Tagged the top of our channel to the dollar. What precision! Big resistance pressure up here. I am not sure the bulls have the strength to finally break us out and above. Therefore, be ready to start taking profit (if you haven't already). It is quite possible that we come back down to the bottom of our channel or even lower, especially with all that is going on in the world. Never rule out another black swan or flash crash.
INDEX:BTCUSD
by stewdamus