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Analysis of BTC/USDT Weekly ChartThis analysis examines both the short-term and long-term trends for Bitcoin (BTC) against Tether (USDT) using the weekly chart. Short-Term Trend: Based on the current bearish sentiment, I believe there's a high possibility of BTC experiencing a further drop in the short term. A potential support level could be found around the intersection of the 21-week EMA (Exponential Moving Average) and the 38.20% Fibonacci retracement level (highlighted by the yellow circle on the chart). Long-Term Trend: Despite the short-term weakness, the overall trend remains bearish on the weekly timeframe. This is evidenced by the price being below major moving averages (10-week, 20-week, etc.) and the bearish Ichimoku Cloud... BUT Potential Long-Term Opportunity: If BTC finds support at the mentioned confluence zone (21-week EMA and 38.20% Fibonacci level), a potential long-term buying opportunity might emerge. In this scenario, the price could target a range between $80,000 minimum and potentially reach $100,000 initially, marking the completion of the third bullish wave. Additional Considerations: This analysis is based on technical indicators and should be combined with other factors like fundamental news and on-chain metrics for a more comprehensive understanding. Market conditions are dynamic, and these targets and support levels are estimates. Always practice proper risk management when trading. This version clarifies my analysis and it's just a possibility and not financial advice.
BYBIT:BTCUSD.P
by CryptoTraces
Bitcoin BTC price follows a familiar routeCurrently, crypto market users are divided into two camps: 1️⃣ - to the mooon with the first stop at 100k and 2️⃣ - the beginning of a correction to at least 50k. Two ultra-radical camps that will find 101 reasons why it should be exactly as they "want and expect" and not otherwise. On the #BTCUSDT chart, we have copied and displayed the fractal of #Bitcoin price behavior for May-October 2020. That is, how the CRYPTOCAP:BTC price behaved before and after the previous halving. And this scenario is not bad: the #BTCUSD price is entering a prolonged consolidation phase at range $65,000-73,000 during the summer of 2024. At this time, the capital of large funds will be able to partially and smoothly flow into crypto projects with a smaller capitalization. What can this process provoke? That's right - the alt-season Are you intrigued?) We are waiting for 50 likes and at least 10 comments from you, and then we will supplement the idea with the BTC.Dominance, USDT.D charts and the total crypto market capitalization chart which clearly show how this process can look like.
by P_S_trade
20
BITCOIN POTENTIAL CHANGE IN STRUCTURE (18h)Based on historical backtest of trade strategy. 18H BTC HEIKINASHI If the candle closes at or above the indicated value of the purple line as shown, typical trade is 23 bars with and average profit of 8.18%. This would be a longer term/higher time frame change in structure for BITCOIN. 60k double bottom is still in uptrend. Lower time frames are consolidating, then higher. Currently the price has traded into the the 66k zone, nearly confirmed in the 50% retracement of the Fib. from the 73.6k high. An 18hr buy signal would conclude 70-72k price targets and likely new all time high possibilities. *** STILL PENDING AN 18HR CANDLE CLOSE ABOVE THE PURPLE LINE ***** Will update if / when the signal is initiated feel free to message for signal settings
CRYPTO:BTCUSDLong
by Ace_of_Waters
1
Halving and war update BTCThe next hours/days are really important for BTC and the whole crypto world. Halving is just around the corner and news about the wars are moving the market. What is going to happen? As everyone should know, May is a month where usually we can expect a drop on major index (Sell in May...). This would means we could see a bearish scenario on BTC and the price could rapidly drop till the $48.000/$50.000 area. The halving could help this bearish scenario but, i think we are going higher. Gold is keep rising and BTC, especially with the new ETF's, could be used as digital GOLD from funds. In this case, we could see a fast pump till new ATH. $60.000 is for sure a crucial level and this days range, is a confirmation that a brutal move looks imminent.
Long
by SaliJournal
2
BTC !! Adjust before HAVING zone 60,000⭐️ Smart investment, Strong finance ⭐️ CRYPTO INFORMATION: Bitcoin's price has experienced a significant decline since April 9. However, the downward trend has become more pronounced in recent days due to three primary factors. Firstly, the escalating confrontation between Iran and Israel has contributed to the market's unease. The former Mossad intelligence chief's statement suggesting a potential strike on Iran's nuclear facilities has heightened tensions and caused panic among investors. As a result, many are seeking refuge in traditional assets like gold and silver, further impacting Bitcoin's price. Secondly, Federal Reserve Chair Jerome Powell's recent hawkish stance has added to the market uncertainty. In a Tuesday announcement, Powell expressed the Fed's continued lack of confidence in inflation levels. He indicated that interest rates may remain higher for an extended period. This unexpected reversal caught the market off guard, as it had been anticipating a rate cut in June. Now, there is doubt regarding the possibility of any rate cuts in the near future. Lastly, the ongoing COVID-19 pandemic and its impact on global economies have also played a role in Bitcoin's price crash. As countries struggle to contain the virus and deal with its economic repercussions, investors are becoming increasingly cautious and seeking safer investment options. These catalysts, combined with other market factors, have contributed to the current decline in Bitcoin's price. ⭐️ Personal comments NOVA: BTC corrects around $60,000 before HAVING. Price range $50,000 - $52,000 is a good price range for the uptrend period to begin ⭐️ SET UP BTC PRICE: 🔥SELL BTC zone: $64.200 - $63.900 SL $64.700 TP1: $63.000 TP2: $61.500 TP3: $60.000 🔥 BUY BTC zone: $60.000 - $60.200 SL $59.400 TP1: $61.500 TP2: $62.200 TP3: $63.000 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
Short
by Nova-Scalper
3
BTC UPDATE ✅The daily structure on CRYPTOCAP:BTC is still bullish as long as we don't break and close below $59,200. My average entry for spot buy is at $61,900 after all three fills. This could be the best possible opportunity to buy since the RR would be great because of invalidation just daily close below $59K. Daily also seems to be forming this bullish AB = CD structure and there are two equal lows on daily aswell. But the smaller timeframe structure (4H, 1H) is definitely bearish, although the last night's low was not able to close below previous $59,652 low so there is no valid BOS but in any case we need a break and solid close above FWB:67K to be bullish back again imo or atleast a close above $64.5K to make that move. The only reason I emphasize upon buying right here is because the invalidation for bulls on daily is just too close, a small $1000 drop and the whole structure would be bearish on daily but at the same time, a great buying opportunity too if this happens to be the low ✅
Long
by GeorgeZoros
BTC (Bitcoin) Technical Analysis and Trade Idea Upon analyzing Bitcoin (BTC), we observe a persistent downtrend. Notably, the price has recently entered a crucial support zone and experienced a retracement, potentially presenting a sell opportunity. In our video, we delve into various aspects of technical analysis, including trends, price action, and market structure. It is essential to emphasize that the content provided is solely my opinion for educational purposes. It should not be interpreted as financial advice. Trading inherently carries risks, and prudent risk management practices are paramount.
BINANCE:BTCUSDShort
by tradingwithanthony