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BTC/USDT Weekly Chart Update !!$52,408.76 remains a crucial support level aligned with historical price actions and the lower boundary of the highlighted area. Immediate resistance is around $60,000. The next major resistance lies near $62,000, which has served as a crucial level. The 50-week MA (red line) currently provides long-term support around $52,022.15. The price is currently trading below the 50-week MA, indicating bearish sentiment on a longer timeframe. BTC is currently trading within a descending channel, which indicates a bearish trend. If the price fails to move above the channel's upper boundary, the pattern suggests the possibility of further declines. The chart also shows a potential head and shoulders pattern that was completed at the beginning of the year, which has led to the current bearish trend. Volume: It is important to monitor volume for confirmation of any major move towards breaking resistance or retesting support levels. Summary: BTC is facing strong resistance around $60,000, and failure to break this level could lead to a retest of the support of $52,408.76. The descending channel and position below the 50-week MA indicate a bearish bias in the long term. Traders should keep an eye on volume spikes and price action near these key levels for further information. This update provides the latest technical information for BTC/USDT on the weekly chart, highlighting chart patterns and moving averages as well as key support and resistance levels. Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!
by CryptoSanders9563
#BTC/ETH#BTC #BITCOIN The price is moving in a descending channel on the 4-hour frame and is adhering to its limits well, and the price has reached the upper limit of the channel The price is now $22.40, which is the entry price Targeting the $21.50 area, which is the lower limit of the channel There is a strong resistance point at the upper limit of the channel that supports the decline We have a trend-hop on the RSI indicator, but more declines are expected on it
Long
by CryptoAnalystSignal
#BTC/USDT#BTC #BITCION The price is moving in a descending channel on the 4-hour frame and is adhering to its limits well The current price is $59,102. It is expected to fall to touch the lower limit of the channel at $57,700, which is the entry price There is a strong support point at this level, green Targeting the upper limit of the channel at $60,000 This boot supports the lower limit as we are still below the moving average 100 But what supports the rise after touching the lower limit is the presence of an upward trend on the RSI
Long
by CryptoAnalystSignal
4
#BTC/USDT#BTC Bitcoin Bitcoin price is moving in a sideways channel on a 1-hour frame. It is expected that the price will touch the lower limit of the channel at $59,600 and bounce from it upwards to the upper limit of the channel at $61,800. Which is considered a pivot point, which pushes the price down as expected to $57,800, which is a strong support level. We have a support area in green at $57,800 after the price touched it and bounced from it We have a trend to stabilize above the moving average 100 We have a downtrend on the RSI indicator that supports the price upwards, canceling the pattern in the event that the pattern is broken upwards and a candle closes above the $62,000 area, which supports further upwards
Long
by CryptoAnalystSignal
#BTC/USDT#BTC Bitcoin price is moving in an upward trend on the 4-hour frame since the beginning of the month The price is strongly adhering to the trend line. Now we have a slight breakout downwards. We are waiting for a rebound from it upwards and a 4-hour close above the trend to confirm the rise and respect the trend We have so far stability above the 100 moving average, which supports the possibility of rising We have a retest of the broken downtrend on the RSI indicator Which gives a selling saturation and increases the chances of rising Current price 66320 The target of rising on two targets The first target is 68000 The second target is 69800 The model is canceled in the event of a 4-hour candle closing below 65000
Long
by CryptoAnalystSignal
If Bitcoin Drops From This Channel Then 48k IncomingTitle is straight and to the point. We are now on the bearish side of our trend lines. Though, long-term, Bitcoin remains bullish and is, in fact, inside of a long-term bullish channel (bull flag), if we drop from this channel then 48k will most likely be retested as support. 48k, if you remember, is the neckline of our long-term inverse head and shoulders pattern. Typically, price likes to retest significant levels like this one. It hasn't done so since we broke out in February. Will we do so now? Watch that channel for your answer.
INDEX:BTCUSD
by stewdamus
🚨ALTSeason Alert🚨: Why It's Imminent ??The cryptocurrency market is buzzing with anticipation as many analysts and traders believe an altseason is on the horizon. Altseasons are periods in the market cycle when altcoins (alternative cryptocurrencies) outperform Bitcoin (BTC), the leading digital asset. Several factors suggest that an altseason could be imminent, and this article will explore these indicators and highlight promising altcoins to watch. Altseason Index Signaling a Shift: The Altseason Index, a metric that tracks the relative performance of altcoins against Bitcoin, currently indicates a Bitcoin dominance-led market. However, the index is approaching a critical inflection point where it could break below its trendline, signaling a potential altseason. Bitcoin Dominance Poised for a Breakout: Bitcoin's dominance, which represents its share of the total cryptocurrency market capitalization, has been trading within an ascending wedge pattern. This pattern suggests a potential breakout, with a downward move indicating a shift of power towards altcoins. A decline in dominance below 40% is often considered a hallmark of an altseason. Bitcoin dominance chart showing an ascending wedge pattern Ethereum (ETH) Gaining Strength: The ETH/BTC price ratio, which measures the relative performance of Ethereum (ETH) against Bitcoin, has been on an upward trend. This trend suggests that ETH is gaining strength relative to BTC, potentially signaling a shift in market sentiment towards altcoins. ETH/BTC price ratio chart showing an uptrend WIF (WazirX India Token) Poised for a Breakout: WIF, a cryptocurrency native to the WazirX exchange platform, has been forming a massive ascending triangle pattern on the daily timeframe. This pattern suggests a potential breakout towards $10, making WIF a promising altcoin to watch for the upcoming altseason. WIF/USDT chart showing an ascending triangle pattern Additional Factors Supporting an Altseason: Increased Institutional Interest in Altcoins: Institutional investors are showing growing interest in altcoins, as evidenced by rising investment inflows and the launch of altcoin-focused products. Strong Fundamentals of Many Altcoins: Numerous altcoins have strong underlying fundamentals, innovative use cases, and active developer communities, making them attractive investment opportunities. Market Sentiment Favoring Riskier Assets: The overall market sentiment is shifting towards riskier assets, which could benefit altcoins as investors seek higher potential returns. Conclusion: While the exact timing of an altseason cannot be predicted with certainty, the confluence of several indicators suggests that it is imminent. Altcoins like WIF, with strong technical patterns and solid fundamentals, are poised to make significant gains during this altseason. However, it is crucial to exercise caution and conduct thorough research before investing in any cryptocurrency.
Long
by Yaroslav_Krasko
1
BTCUSD - 4HRSimple trading - WE WAIT! Patient pays!! Possible head and shoulders pattern is starting to form on the charts. be patient as this pattern is not confirmed. BTCUSD is still currently in a bullish run breaking out of the daily Inverted head and shoulder pattern. Active target is still 74k We can take advantage of short-term price action like this 4hr head and shoulders. Watch to see if the price creates a lower-low, and look to sell. We need a strong bearish candle to close below the price area of 67,500. Price predictions: Sell at 70800 Sell at 69600 These are just my thoughts, not financial advice.
COINBASE:BTCUSDShort
by nikdobii
After Bitcoin’s Stunning Rally. What Next?Bitcoin is surging through expectations defying rally. Bitcoin (“BTC”) stands 22% higher over the last seven days. At its highest on 28 Feb 2024, BTC at USD 64k was 7% shy of its all-time-high. Recent bitcoin (“BTC”) performance harkens back to the euphoric bull runs. Market metrics signal more steam in store. This note discusses BTC’s recent rally and the road ahead. Anticipating short-term consolidation, this paper posits a short position in BTC/ETH ratio. BITCOIN RALLY HAS MORE IN STORE BTC is soaring fuelled by a range of tailwinds including strong demand from newly listed spot BTC ETFs, expected BTC halving, and a broader crypto market rally. 1. On-chain metrics do not signal significant profit taking (yet). Long-term holders have shown resilience despite significant gains in their holdings. Unrealized gains can be inferred by the market-value-to-realised-value (“MVRV”) indicator . MVRV assesses the market capitalization of BTC relative to its realized capitalization. It is determined by the price at which coins were last traded. Current MVRV of 2.5x indicates that the current BTC prices are >2.5x the price at which coins last moved. Despite this, BTC supply that has remained unmoved in the past one year has remained surprisingly resilient. Supply not moved in more than a year is down 3.75% over the past three months while prices have rallied 53% and MVRV has remained >2x. During previous cycles, particularly, when price peaked, MVRV was closer to three times, profit taking rates were high causing physical BTC to change hands rapidly. Current conditions do not match previous drawdowns suggesting potential for consolidation limiting further gains. Past performance does not necessarily imply future trends. Current exchange inflows are near record highs. A substantial portion of these is from short-term holders rather than long-term holders. Source: Glassnode 2. Continued spot buying as well as strong ETF demand. ETF demand shows no signs of slowing. Since putting our last paper on 26th Feb , an additional USD 2.3B of inflows have surged into spot ETFs. The pace of daily net flows to ETFs reached its highest level to date on 29th Feb. Demand remains so solid that NASDAQ:IBIT became the fastest ETF to reach USD 10 billion in AUM, just 51 days after launch. Fidelity’s AMEX:FBTC is not far behind at USD 6.2 billion in AUM. GBTC outflows have continued but the pace of inflows has not reached those seen at the beginning. In addition to fund flows, traded volumes have also remained elevated. BTC ETF volumes reached USD 11 billion on 28th Feb when prices soared above USD 60k for the first time. Volume on ETFs was particularly high when price rallied to its peak of USD 64k. 3. Funding rates and options smile . Funding rates on BTC perpetual futures signal elevated levels of speculative bullish demand. Funding rates are at levels observed during past bull runs. Options markets are also pricing in further upside after last week. BTC options volatility curve of BTCH24 (March 2024) has shown a far higher forward skew compared to prior week. This is indicative of higher price for calls (bullishness) compared to puts (bearishness). Source: QuikStrike Call/Put skew over the past month shows that skew for calls have started to expand once more following sharp rally above USD 60k on 28th Feb. Source: QuikStrike BITCOIN NOW FACES RESISTANCE Source: Coinglass BTC market suffered large liquidations following sharp rally on 28th Feb. Liquidations were spread across both longs and shorts, but overall short liquidations were higher. Across two more periods when price failed to surpass USD 63k definitively, long positions were liquidated once more. Still, since then liquidations have been much smaller than the peak. Price remains rangebound after crossing USD 60k. It faced resistance crossing past USD 65k and maintained support above USD 60k. BTC-ETH SPREAD LIKELY TO RALLY BTC rallies typically precede ETH rallies as described before . Since that paper was published, the spread is merely 4% lower. The spread remains elevated relative to historical levels. ETH has its unique tailwinds pushing it higher independent of BTC and the broader crypto market. Higher ETH burn due to greater on-chain activity is reducing ETH supply. Moreover, decisions on spot ETH ETFs are expected by May 2024. While the final decision remains uncertain, the approaching deadline is likely to fuel bullish sentiments. HYPOTHETICAL TRADE SETUP BTC price is sharply higher and close to its previous all-time-high. Tailwinds for BTC remain intact. It faces near-term price consolidation following the sharp rally. BTC price consolidation will favour ETH in BTC/ETH spread. ETH outperformed BTC during periods of consolidation in the past. A spread position comprising of long Micro ETH futures and short Micro BTC futures allows investors to gain exposure to this trend with a 50% margin offset. Micro ETH futures offer exposure to 0.1ETH and Micro BTC futures provide exposure to 0.1BTC. Thus, eighteen contracts of METH2024 are required to match notional for one contract of MBTH2024. The below hypothetical trade setup offers a reward-to-risk ratio of 1.8x: • Entry: 18.35 • Target: 16.87 • Stop Loss: 19.50 • Profit at Target: USD 5,255 (+8.1%) • Loss at Stop: USD 4,025 (-6.2%) • Reward to Risk: 1.3x MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
CME:MBT1!Short
by mintdotfinance
The Week Ahead for Bitcoin - Battle for $48kLet’s make this as simple as possible for Bitcoin. It’s really this - Bitcoin must beat 48k to continue the bullish trend and confirm that larger cup and handle pattern is in play which will take us to 80k. If we don’t beat 48k soon, then I expect another small pullback. However, it may not be as deep of a pullback as other analysts expect. According to my chart technicals, most indicators are still hyper-bullish. Therefore, I’d say we may only pullback to 42k at most. If we do beat 48k, that’s our signal that the bullish trend will continue. We have to be quick about entries if we want to play the continuation. Normally, my rule is to wait for at least one confirmation candle on the daily. Because of the bullishness of price right now, I’d make an exception to this rule. If we don’t make this exception, we could miss out on big price movement. It’s up to you how you want to play entries at this point and, as always, it’s based on your own personal risk tolerance. If you are a more aggressive trader, I’d suggest jumping down to the 4hr chart and looking for confirmation there.
INDEX:BTCUSDLong
by stewdamus
BTC/USDT 1DAY AND 4HOUR CHART UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BITCOIN update from Crypto Sanders. Chart Analysis:- Analyzing Bitcoin’s (BTC) oscillators provides an essential snapshot of its current market stance. The relative strength index (RSI) at 56, Stochastic at 54, and commodity channel index (CCI) at 18 align in a neutral zone. This neutrality signals a balanced market sentiment, with neither overbought nor oversold conditions prevailing. These indicators suggest a period of consolidation, with potential shifts contingent on broader market influences. The story told by bitcoin’s moving averages is one of subtle optimism. Similar to the past few weeks of analysis, the exponential moving averages (EMAs) over 10, 20, 30, 50, 100, and 200 days predominantly signal bullish sentiment, despite the 10-day EMA presenting some bearish sentiment. Conversely, the simple moving averages (SMAs) for these same periods also indicate positivity, including the 10-day SMA. This divergence in the shorter-term EMA reflects the inherent volatility and rapid shifts in market sentiment typical of crypto assets. bitcoin has shown a strong uptrend, moving from a low of 15,479 to a peak of 44,729. However, the appearance of a significant Dec. 10 red candle with a long upper wick suggests possible resistance to higher prices or profit-taking activities. The volume, not showing a significant increase, hints at a cautious approach by traders, possibly indicating a lack of strong buying conviction. As suggested by the daily chart, a prudent strategy would be to await a retracement towards key support levels for entry points. These levels could be previous resistance points or moving averages not explicitly marked. For exits or profit-taking, one should monitor the peak prices or the emergence of bearish patterns like multiple long upper wick candles, indicative of potential reversals. The 4-hour chart offers a more granular view of Bitcoin’s price action, confirming the uptrend seen in the daily chart. Post-peak, the cryptocurrency entered a consolidation phase, marked by volatility and relatively low volume, suggesting a lack of significant sell-off. Entry strategies could involve observing price behavior at current levels or waiting for a rebound from a support level. In contrast, an exit strategy might include setting a stop-loss just below the recent consolidation to mitigate the risks of a breakdown. The confluence of neutral to positive signals from oscillators and moving averages, coupled with Bitcoin’s resilient performance on the daily and 4-hour charts, points towards an optimistic outlook. The absence of clear overbought conditions and the cryptocurrency’s ability to sustain above key support levels paint a bullish picture. Despite the current stability, underlying bearish signals cannot be overlooked. The mixed signals from the 10-day EMA and the appearance of the Dec. 10 red candle with a long upper wick on the daily chart hint at possible resistance and profit-taking. Should Bitcoin fail to sustain its current levels and break below key support zones, this could trigger a bearish reversal. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
Long
by CryptoSanders9563
1