BTCUSD | Trade ideaBTCUSD is trading weak ahead of the US Non-Farm Payroll (NFP) data, having hit a low of $55,282 and currently hovering around $55,958.
The number of large investors holding between 100 and 1,000 BTC has reached a one-month high of 16,120, indicating that whales are buying BTC at lower levels.
BTC ETFs have experienced an outflow of $211 million, marking the seventh consecutive day of withdrawals.
According to the CME FedWatch tool, the probability of a 25 basis point rate cut in September has dropped to 57% from 70% a week ago.
US Markets:
NASDAQ (negative correlation with BTC): Bearish but neutral for BTC, trading weak ahead of the NFP data. A close above 20,000 could push the index to 20,500.
Technical Analysis:
BTCUSD is trading below the short-term 34-EMA and 55-EMA, as well as the long-term 200-EMA on the 4-hour chart, indicating weakness.
On the daily chart, BTC remains below both short- and long-term moving averages, confirming minor weakness.
Support Levels:
Minor support at $54,000. A break below could push BTC to $53,000/$50,000/$46,000.
Bullish Scenario:
Primary supply zone: $57,000. A break above this level could confirm intraday bullish momentum with potential targets of $60,000/$61,800/$63,000/$65,000/$67,000/$70,000.
Secondary barrier: $70,000. A close above could target $75,000/$80,000.
Btcetf
HolderStat | BTC at a crossroads🌍 Bitcoin holds steady at $101,500, reflecting a market in flux. While Microsoft passed on BTC reserves, nations and corporations are exploring Bitcoin reserves, highlighting its financial relevance.
📉 Spot BTC ETF inflows have slowed since November, hinting at cautious sentiment. Broader crypto ETFs and U.S. policy shifts could ignite new institutional interest.
💡 Bitcoin dominance dipped, and while altcoins remain in the wings, a shift feels near. Wallets activity shows balance, with buys at $97,740 and sells near $98,510—traders remain divided.
🔥 With $1.5 billion in long liquidations and neutral funding rates, the market stands at a pivotal moment. Is this the calm before the next bull storm?
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Always DYOR! 🔬
Orange Breaks, We Fly. Blue Falls, We Dive. The chart highlights two critical regions, each playing a pivotal role in determining the next trend direction for IBIT Bitcoin shares:
Orange Box - Key Resistance Zone
The orange box represents a crucial resistance area. For the rally to sustain momentum and push higher, this region must be decisively broken and secured. A close above this level, coupled with strong volume, would indicate the bulls are in control, signaling a potential continuation of the upward trend.
Blue Box - Key Support Zone
The blue box acts as a significant support level. Should the price fall below this zone, it would suggest weakness in the market. A confirmed breakdown, followed by a retest of the orange box from below, provides an opportunity to take a short position, as this would signal the onset of a downtrend.
Conclusion:
These zones are pivotal for the current market structure. Traders should closely monitor price action around these levels to identify whether the market leans towards bullish continuation or bearish reversal.
HolderStat | BTC-ETFs felt the inflows of money againCrypto’s Institutional Era Has Begun 💼
Did you know the US might consider buying up to 5% of Bitcoin’s total supply for a national reserve? Meanwhile, pension funds like the one in the UK are already stepping in, allocating 3% of their assets to BTC. This could reshape the entire market landscape.
For the first time, we’re in a bull cycle where institutional giants are not just observing but actively participating. From ETFs to direct investments, their influence is undeniable. This influx of capital might bring unprecedented growth—but also new challenges for retail traders.
Want to stay ahead and learn how to leverage this? Follow us for exclusive insights! 🚀
Support zone: 16.02-17.52
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If you "Follow", you can always get new information quickly.
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(BITO 1M chart)
As a spot ETF chart, the HA-Low indicator is formed at the 16.02 point.
Therefore, the key is whether it can receive support near or above 16.02 and rise above 19.50.
It seems that StochRSI will enter the oversold zone and the slope will change.
Accordingly, the area around 16.02 is expected to be an important support and resistance zone.
-
(1W chart)
The point where the BW indicator of the 1W chart forms a horizontal line from the lowest point (0) is around 19.50.
Therefore, I think that it is likely to turn into an uptrend if it rises above 19.50 and is supported.
Since the M-Signal of the 1W and 1M charts is passing above 19.50, I think it supports the fact that it is an important point.
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(1D chart)
The BW line of the 1D chart is created at the 19.13 point.
Therefore, the key is whether it can be supported near 17.52, the HA-Low indicator point of the 1D chart, and rise above 19.50.
If not, you should check if it can be supported around 16.02.
If it shows support in the HA-Low (16.02) of the 1M chart ~ HA-Low (17.52) of the 1D chart, it is a time to buy.
The reason is that the HA-Low indicator has been created, which means that a low point has been formed.
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If it falls below 16.02, it is expected to rise around 13.79 or higher.
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Based on the current price position,
- In order to turn into a short-term uptrend, it must rise above 19.50,
- In order to turn into a medium- to long-term uptrend, it is expected to rise above 25.19.
- In order for a full-fledged uptrend to begin, the price must rise above the HA-High indicators of the 1D, 1W, and 1M charts and maintain the price.
Currently, the HA-High indicator of the 1D chart is created at 32.12.
-
Have a nice time.
Thank you.
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- Big picture
It is expected that the real uptrend will start after rising above 29K.
The area 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 the points where resistance is likely to be encountered in the future. We need to see if we can break through these points.
We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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To turn into a short-term uptrend, it needs to rise above 34.18
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If you "Follow", you can always get new information quickly.
Please also click "Boost".
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Let's check out the chart with the highest trading volume among the released BTC ETF products.
(IBIT 1M chart)
However, since the chart has just been created, the role of the indicated support and resistance points may be weak, so caution is required.
-
(1W chart)
The point where the volume profile section is formed on the current chart is 38.14.
Therefore, it is expected that the uptrend will begin only when it rises above the volume profile section.
-
(1D chart)
The key is whether it can maintain the price by receiving support and resistance formed at the 32.70 point and rising above 34.18 (if possible, Fibonacci ratio 0.618 (34.68)).
Therefore, it is necessary to check whether it can break through the psychological volume profile section of the first gate, 32.85-33.41 section.
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From a trend perspective, it is necessary to break away from the downtrend line (1) in order to turn into an uptrend.
Accordingly, it is necessary to check whether it can lead to a movement to change the state from M-Signal on the 1D chart > M-Signal on the 1W chart.
If it fails to turn, you should check for support around 23.99-26.03.
-
Based on the current price position, it is expected that a full-scale uptrend will begin when it rises above the HA-High indicator (39.87) on the 1D chart.
Since the HA-Low indicator on the 1D chart has not been created yet on the current chart, if it starts to fall below 32.67, it seems likely that the HA-Low indicator will be created.
If the HA-Low indicator is created, the key point is whether there is support around that area.
-
Have a good time.
Thank you.
--------------------------------------------------
- Big picture
It is expected that a full-scale uptrend will begin when it rises above 29K.
The area 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: 13401.28
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
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ETHUSDT: A Golden Opportunity?Hey everyone!
Appreciate a like and follow if you find this analysis helpful!
Let's dive into the ETH 2-day timeframe chart. We're currently observing a bullish flag pattern forming. The price is nearing the lower support line of this flag, a level that has held strong for the past six months. Historically, ETH has bounced positively from this zone.
It's worth noting that the ETH ETF was recently launched, mirroring the BTC ETF launch in January. Following the BTC ETF launch, BTC experienced a roughly 20% drop before embarking on a parabolic 90% surge. A similar pattern could unfold for ETH.
This setup presents a compelling risk-reward opportunity for ETH buying.
Entry range: $2750-$2900
Targets: $3800, $5700, $7300, $10,000
Stop-loss: 2-day close below $2500
What are your thoughts on ETH's current price action? Share your analysis in the comments!
$IBIT Gaps To Fill Before Heading Higher AgainI've been watching the 4-Hour chart on the Blackrock BTC ETF or NASDAQ:IBIT since the start.
And recently noticed that until now, all of the gaps have filled much like we see on the !CME.
Except for ONE large gap that has yet to fill, which I outline in the video.
Let me know what you think, and we'll see how this plays out!
BTCOf the opinion BTC has entered into marco w5 of the HTF (3) wave. The (3) is set to hit $90-$110k .
For now the marco 1 has entered into a diagonal pattern which is a combination of ABC 3 waves inside of an impulsive 5 wave structure.
I have the local top at $61,000 before a pull back to $54-$56,000 for marco 2 of 5 of (3)
A Battle of TrendlinesToday the story on Bitcoin is quite simple from a technical perspective. We have a battle of trendlines occurring. On our price chart Bitcoin is back down to that purple ascending support. Technically, this is great news as we needed a retest here before further upmovement (if that is the current trajectory). However, there is some trouble on the RSI as we bang our heads on resistance. Which will win?
Bitcoin Inverse H&S Completing Sooner Than Expected!Traders,
When I initially spotted what I thought could turn into an inverse head and shoulders on Bitcoin, we were at the neckline. I drew in pink what I proposed could turn into this inverse h&s with supports all the way down to 64.5k to remain valid. I am happy to see that the right shoulder appears to be forming faster than anticipated and our accumulation time appears to be nearing an end. Once the neckline is broken to the upside on this pattern, our target will be that blue ascending trend line overhead which comes all the way from Jan. '22.
Good things are coming for the remainder of this year. Stay tuned and don't forget to follow/subscribe if you are in the mood to make some serious gains from my altcoin signals.
Stew
BTC – Weekly Perspective – 04/21 to 04/28BTC continues its saga. I believe this is a corrective saga. Being corrective, I believe that the end to this saga is the attempt to have a beautiful bullish rally soon. The FED could help with this "rally". What a thing, right?
Monthly bias there is no change in strength, therefore the SETUP used still points to the bulls in the direction of this chart time.
On the weekly basis, as I have been saying for some time, we are within a corrective bearish pivot. In principle, everything was normal.
When faced with the daily bias, we have the situation in the image below, a bullish pivot, but with an arduous mission, to overcome the 68.4K region to continue with its upward trend without forming the C&H pattern. If you are unable to overcome this region, the correction may take place as shown in the image below.
I would like to share a thought of mine with you: "Things should be measured in the long term, but never forget that they start in the short term!
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below
Are we reaching the End of the BITCOIN Sell off ?#Bitcoin "Sell off" - Why ?
Firstly, it is all a very well measure correction, what is sold, is bought up.
SO, This CORRECTION of Bitcoin is NOT panic selling, as supported and shown by by the most excellent @_Checkmatey_ and @_checkonchain via X
OnChain data tells us what is Really happening.
We are seeing more the continued movement of GBTC stock. The following quotes are from Google.
"Grayscale started shifting its BTC to Coinbase for selling because onit converted its fund into a BTC exchange-traded fund (ETF) on January 10."
"Market commentators argue that the bankruptcy of crypto giant FTX has played a significant role in the selloff of GBTC. FTX was a major holder of GBTC before it filed for insolvency in November 2022, holding about 22 million shares as of Oct. 25" (Mar 19, 2024)
"GBTC had outflows yes, but it is largely Genesis (we know this for fact), who is simply exchanging GBTC shares for spot BTC, so net neutral event (plus GBTC is all pre-ETF money).Mar 22, 2024 "
HOWEVER ->
"The sale of GBTC shares was completed on April 2, the documents show. On Feb. 15, Genesis received permission from a New York bankruptcy court to sell the nearly 36 million shares in GBTC, as well as additional shares in two Grayscale Ethereum trusts" .(Apr 5, 2024)
Which means GREYSCALE are selling too.
A
nd as we can see, All this BTC has been bought up but maybe the buying is slowing...saturation point...and so we look to the New Hong Kong ETF Laws to maybe Buy it all up, if they were not before, which is highly unlikely.
The Green Box in the chart is March 2024 - See how price reacted in the period.
The other thing to notice here is that the Price Candles in the chart, the Fatter they are, the more Volume involved. Volune is DECREASING
The Green box in the Image is the same period as the chart above, March 2024
The GREEN / RED bars in that image show the Buying / Selling pressure.
That is also DECREASING
So, I can only conclude that while Genisis was Selling off, Greyscale was also and has continued to do so...and they are slowing down
It is NOT ETF Panic
HOLD YOUR BITCON
#Bitcoin has reached its all-time high and faced rejection, so wUsing a technical indicator called the Wyckoff method, I've created a chart for you. Currently in phase C, we expect Bitcoin to retest its all-time high and reach overbought levels before experiencing a deep correction. Apart from the Wyckoff method, in Elliott Wave Theory, we also anticipate the completion of the fifth wave, which is the internal wave of the fifth wave.
As Bitcoin reaches a new all-time high, we expect altcoins to enthusiastically follow this rise and create FOMO in the market. When the entire market reaches overbought territory, it's time for investors to consider turning to cash.
While the testing range for Bitcoin is between $74k and $75k, with FOMO, we might see a maximum deviation of up to 5%, but I don't expect more in this cycle. The chart drawn will be invalidated if daily closes fall below $60k.
Stay tuned for more detailed analyses ;)
Bitcoin CME Gap finally filled
That CME gap that was created on 22 March has finally been Filled.
For me, the pressure has been on PA to Dip back into that gap to fill it and so we have been ranging above it for weeks.
This takes the battle lines between Bulls and Bears to a higher level.
PA can move on.
But will It ?
Hong Kong just approved BTC And ETH ETF's.
We may see outflows from USA BTC ETF's and Inflows into Hong Kong now....
We need to watch that space very closely because if the Flows are Large, the USA has to approve ETF for ETH pretty quick
Watch This on your 4hr!Traders,
I've been reading that the second round of GBTC outflow, which contributed to the selling pressure recently, is drying up. This pattern on the 4 hour chart will either confirm or deny this rumor.
You can see the inverse head and shoulders pattern drawn. A break to the upside would target our previous high almost exactly. A failure to break the neckline by our bulls would result in our dropping back down to that multi-year trend-line (now acting as support) from 2019.
Watch this closely and set your alerts accordingly as I believe this is the key indicator telling us what Bitcoin will do for at least this week.
Best,
Stew
BTC – Weekly Perspective – 03/24 to 03/31We are already in the last week of March, and it seems to me that the corrective process outlined in the previous analysis is about to happen.
We are seeing prices losing strength and opening up margins for corrective drops.
As I always mention in my analyses, the long-term chart does not indicate a change in direction, so the increase is still strong for this "time frame".
When we reach the medium term, the SETUP used indicates that very short-term longs are slowly exiting their positions, and I realize that the 59.4K region is the point where they still tolerate remaining long in crypto, therefore, the loss This range will make these "adventurers" leave their positions and look for new purchases at lower levels, such as the 51.9K region.
When looking at the short term, we are working within a corrective bearish pivot, and its strength at the moment is to reach the 59.5K region, where I call the GOLDEN TRIPLE OF SETUP. See the image below.
Observation. The red lines are support points. The loss of it will cause prices to seek the white line and, consequently, the yellow lines.
If prices reach the 59.4K region and fail to overcome the 62.5K region, this could be characterized as a rebound, and prices will tend to correct up to the value of 51.9K as shown on the weekly chart.
Open your eyes!. Therefore, it is time to pay extra attention.
Click here and see other graphical analysis on gold!
Do your analysis and good business.
Be aware, if you buy, use stop loss.
See other graphical analyzes below.
🌙 Beware the Bearmoon: Bitcoin's Rising Wedge Signals $56-57k 📈 Bitcoin has recently exhibited a rising wedge pattern on the 4-hour chart, indicating a potential correction in the near term. This pattern is characterized by converging trendlines forming higher highs and higher lows, signaling a weakening momentum and a potential reversal. 🔍
💲 As of the time of writing, Bitcoin is trading at $68,200, and based on the formation of the rising wedge, a measured move suggests a correction towards the $56,000 to $57,000 range. This projection is derived by measuring the widest part of the wedge and extending it downwards from the breakout point. 📉
🌙 Furthermore, tomorrow marks a new moon, which historically has shown a correlation with downward price action in the cryptocurrency markets, colloquially referred to as "bearmoon." This phenomenon is often attributed to a combination of factors including options expirations and human psychology, leading to increased selling pressure and market volatility. 🐻
📊 Adding to the confluence of indicators, daily indicators also support the notion of a correction towards the projected range. Combining technical analysis with lunar cycle patterns and other indicators strengthens the case for a potential downward movement in Bitcoin's price. 📉
💼 Traders and investors should monitor price action closely, keeping in mind the identified levels and factors influencing market sentiment. Risk management strategies should be implemented to mitigate potential losses in the event of adverse price movements.🛡️
Check this out! Hits my line exactly! Long BTC.Traders,
This is exactly why I love technical analysis so much! Check out what BTC just did. It hit my multi-year support/resistance trendline from 2019 with surgical precision. I mean ...to the penny (almost). And this just goes to show that when you put in the time and study the charts, you may find indications that no other analyst talks about. This is one such indicator. I don't know of anyone else that has mentioned this line. If they do, you should be listening to them.
That said, I expect at least a bounce here. And I am going to play that bounce with a tight stop. I'm long BTC with an entry of just over 61k and a final target of 79-80k. Tight stop of 59,850 which turns the RRR into an 8-to1 ratio (keep in mind, selling may continue).
Let's go!!!
Stew
Bitcoin Remains Precisely on Target Path to 60kGood Morning,
In my last post(s), I had projected a bounce from 64.8k to 69k. Check. Then, I suspected we may drop again and next break 64.8k. Check. The next target was then a retest of my multi-year support/resistance tl from 2019. We are almost there. The tl actually sits at around 61k and rising. However, we could wick down below that during the course of a day. Once at this point, I explained that the market will have to decide whether we drop further (in this case, 48k would be our next target down) or whether we rise again and move up to my inverse h&s target of 79k. My bet is still on the latter. But any break below that 2019 tl with confirmation could easily change my mind. Until then, the line in the sand has been drawn and I remain bullishly biased to 79-80k at which point I will re-assess.
Best,
Stew
Bitcoin to 60k - Clarification on the Last PostApologies for the multiple posts on the same topic readers. One of my followers kindly pointed out that we had already hit 64.8k and I realized that I had not proof-read my work before sending out. The title of the last post was supposed to say that Bitcoin was headed to 60k not 64.8k. I have corrected this where I can but unfortunately, am not able to correct this on TV.
So, since we’ve hit 64.8k already, the projected price trajectory that I meant to describe can be seen in the chart above. Essentially, it is this: we bounce to 69k and create a new lower high, then we drop back down to 64.8k and break it, dropping further to our multi-year support at around 60k. It is at this point the market will have a decision to make. Do we drop further and retest 48k or do we bounce and head towards that 80k target overhead? As long as we remain on the top side of that multi-year support/resistance trendline, my bet is that we’ll hit 80k next. Hope this clarification makes more sense.
Best,
Stew