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Bitcoin Price Trend: Potential Upside Faces Resistance at 37,972Bitcoin is currently hovering near crucial support at $36,788 after breaking into an extended supply zone from $36,276 to $37,301. To sustain the upward trend, prices need a decisive move above this level and surpass the resistance at $37,972. Until then, Bitcoin's upward potential is under threat, with the Relative Strength Index (RSI) showing no change. The Awesome Oscillator (AO) also supports a subdued outlook, with its histogram bars in red, trending towards the middle line. If this continues, the AO might soon turn bearish. Increasing selling pressure could push Bitcoin below the $36,788 support, potentially testing the rising trendline support at $35,410. In a more severe scenario, the decline might extend to the psychological level of $34,000, while the Buyers' Strength Level (BSL on the chart) remains below. However, to confirm an extended downward trend, Bitcoin must break and close below the midline at $30,824 of the supply zone (currently acting as a trend-breaking tool) extending from $30,126 to $31,524. If this level fails to hold as support, BTC could slide towards $29,753.
BITSTAMP:BTCUSD
by Gwen_Humuna
1
Bitcoin Price Nears $35,000 Support Amidst Market Correction"The current Bitcoin price is trading at $35,536, officially confirming a correction in the downward trend. The convergence of Moving Average Convergence Divergence (MACD) indicators shows bars extending below the 0 line, and the MACD line moving below the signal line, signaling the intersection in the official downtrend. The intensifying downward trend causes altcoins to nearly drop below $35,500 before bouncing back above the crucial support level. However, this recovery may not be sustained in the upcoming trading sessions, potentially leading to a further decline in BTC value. The next major support level is the local support line at $33,901, which could push the Bitcoin price down to $31,507. Yet, if broader market signals attempt to bring optimism to the cryptocurrency space, BTC may escape the $33,901 support level to avert a crisis. Reclaiming $35,000 as support would weaken the bearish stance, propelling the cryptocurrency above $35,500 and targeting $40,000.
BITSTAMP:BTCUSD
by Gwen_Humuna
BTC Surges to $37,900 on Optimism Over U.S. Regulatory Approval"Bitcoin hits $37,900 for the first time in a year and a half, driven by expectations of U.S. regulatory approval for a Bitcoin spot exchange-traded fund (ETF). Trader sentiment improves as the U.S. Securities and Exchange Commission (SEC) reviews 12 Bitcoin ETF applications. At the time of writing, Bitcoin is trading at $36,683 on Binance. The market-leading cryptocurrency has seen a nearly 5% increase in value over the past week.
BITSTAMP:BTCUSD
by Gwen_Humuna
2
BTCThe global cryptocurrency market, valued at $1.33 trillion, saw overall growth of 0.46% last Wednesday, with altcoins gaining despite the value of Bitcoin falling slightly lower. $34,867.03 remaining. This is a significant divergence from Bitcoin's record high of $69,000 at the end of 2021. Total crypto market volume over the past 24 hours increased 3.40% to $40.05 billion, with DeFi and stablecoins contributing 4.68 billion USD and 35.23 billion USD respectively. Speculative demand appears to be shifting from Bitcoin to lesser-known digital assets, which have increased this month. Meme currencies Dogecoin and Shiba Inu are up 4.63% and 2.07%, respectively, boasting market capitalizations of $10.64 billion and $4.9 billion, respectively. Pepe Coin also saw a significant increase of 30%.
BINANCE:BTCUSDLong
by Willsonnnn
Bitcoin Surpasses $35K Amid ETF ExpectationsBitcoin has experienced a significant surge in both institutional and retail investor activity, stabilizing around $34,000 after reaching its highest value since May 2022, surpassing $35,000. This marks a substantial 107% increase since the beginning of the year, driven by anticipations regarding the launch of exchange-traded funds (ETFs) and rising safe-haven demand. Last week, Bitcoin transactions exceeded $100,000, often associated with 'whale' investors, reaching the year's high of $23,400. According to data from IntoTheBlock, this uptick coincided with Blackrock's (NYSE: BLK) ETF registration filing, likely fueling increased interest in Bitcoin among large investors and institutions. The U.S. Securities and Exchange Commission (SEC) plans to approve several spot ETFs next year. This development has the potential to propel Bitcoin's market value to $42,000 or even higher. Meanwhile, data from Deutsche Digital Assets indicates a growing trend in retail investor activity. The on-chain activity index for small entities reached a new yearly high of 1.5 last week, indicating increasing participation from small investors.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin Surpasses $35K Amid ETF ExpectationsBitcoin has experienced a significant surge in both institutional and retail investor activity, stabilizing around $34,000 after reaching its highest value since May 2022, surpassing $35,000. This marks a substantial 107% increase since the beginning of the year, driven by anticipations regarding the launch of exchange-traded funds (ETFs) and rising safe-haven demand. Last week, Bitcoin transactions exceeded $100,000, often associated with 'whale' investors, reaching the year's high of $23,400. According to data from IntoTheBlock, this uptick coincided with Blackrock's (NYSE: BLK) ETF registration filing, likely fueling increased interest in Bitcoin among large investors and institutions. The U.S. Securities and Exchange Commission (SEC) plans to approve several spot ETFs next year. This development has the potential to propel Bitcoin's market value to $42,000 or even higher. Meanwhile, data from Deutsche Digital Assets indicates a growing trend in retail investor activity. The on-chain activity index for small entities reached a new yearly high of 1.5 last week, indicating increasing participation from small investors. This upswing in both institutional and retail investor involvement underscores the escalating interest in Bitcoin as it continues its upward trajectory. The anticipated approval of several spot ETFs next year could further stimulate this activity and potentially drive Bitcoin's market value to new heights.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin at $35,000: Mid-December Ideal Entry?"Technical Analysis: Micro Outlook for Bitcoin Since testing the $33,901 support level, Bitcoin seeks to maintain its upward momentum, supported by the price trends surrounding spot BTC ETFs. While the next major ETF news may take some time, Bitcoin faces decisions from the US Federal Reserve regarding interest rates and the release of non-farm payroll data in the coming week. If outcomes align with expectations, BTC could experience limited volatility, hovering around $34,700, with potential to reach $35,000.
BITSTAMP:BTCUSD
by Gwen_Humuna
1
Bitcoin Price Surges to $35,000At the time of writing, the Bitcoin price stands at $34,765, showing strong potential for further gains. It currently resides in the mid-range of the market, measured between the yearly low of $16,542 and the high of the year at $35,184. The leading cryptocurrency has doubled its value since the closing price on December 31, which was $16,542. It has surpassed the 61.8% Fibonacci level at $28,067, a significant retracement, and is on an upward trajectory. The resilient push of the recovery has also broken the 78.6% Fibonacci level at $31,197. Increased buying pressure could drive Bitcoin's price further north, aiming for the psychological target of $35,000. In such a scenario, the most reasonable target would be the $35,184 level on the Fibonacci chart. The Relative Strength Index (RSI) is pointing upwards, indicating that momentum is still on the rise. This is corroborated by the Awesome Oscillator (AO), whose bars are also increasing in the positive territory. However, a price downturn might occur if profit-taking activities commence. In such a case, Bitcoin could find support at the $31,197 level or potentially at $28,067. In the most severe scenario, the decline could push the cryptocurrency down to $25,869.
BITSTAMP:BTCUSD
by Gwen_Humuna
BTC 1H Comrades, Bitcoin is suffering between $28,500 and $27,150. This analysis is in a one-hour time frame and only gives you a view of a maximum of two days. Well, in this area, you can short in the upper areas and long in the lower areas with specific stops and targets Now, if one of the areas is broken, it can move in that direction. I think it will probably break above 60-70% and fall one time frame above the supply area. If you want not to trade in the opposite direction, be careful in taking short positions
by chzmahdi84110913
The Shanghai High Court recognizes Bitcoin.The Second People's Intermediate Court of Shanghai has officially recognized Bitcoin as a unique digital asset that cannot be replicated, characterized by its scarcity and intrinsic value. On September 25th, the court issued a discussion report on the development of internet technology. The report highlights that, with the advancement of internet technology, digital assets like Bitcoin have become unique and non-replicable. It emphasizes that among a multitude of cryptocurrencies, Bitcoin stands out as distinctive and one-of-a-kind. The document also outlines several distinctive features of Bitcoin, including its scarcity and property as an asset. Furthermore, the court asserts that Bitcoin exhibits characteristics of a currency, such as its ability to scale, ease of transfer, storage capabilities, and use as a means of payment. Bitcoin continues to be utilized globally without central oversight. In 2021, Beijing imposed a comprehensive ban on cryptocurrencies, including mining activities. However, recent court rulings have recognized Bitcoin, along with numerous other digital assets, as legitimate assets protected by the law.
BINANCE:BTCUSD
by Human_Fenrir
9
BTC TO 20-22k AREA, pro analysis by baris3Monthly chart provides everything to see for me. Quick fib wave based analysis of mine made me think that BTC price will surely see 20k area, and possibly 19.800 too which is 0.786 fib level according to my calculations. So I expect liquidity sweep down to at least 22k area but I am not sure how deep it can go. I think it can bounce back from 20k or 22k but need to watch price action since my analysis based on current price action. Technical analyses of mine works most of the time monthly TF. Good bye and take care!
by baris3
1
Bollinger Band Battle for BTC Confuses on Future Price DirectionI wanted to draw your attention to an intriguing phenomenon in the world of cryptocurrency trading that has been causing some confusion among investors. Specifically, the ongoing battle of Bollinger Bands for Bitcoin (BTC) has left many uncertain about the future price direction. For those unfamiliar with Bollinger Bands, they are a technical analysis tool that provides insights into market volatility and potential price breakouts. Typically, when the upper and lower bands tighten, it indicates a period of consolidation, suggesting that a significant price movement may be on the horizon. However, in the case of BTC, the Bollinger Bands have been sending mixed signals, making it challenging to predict the cryptocurrency's next move. While some analysts argue that the tightening Bollinger Bands suggest an imminent breakout, others believe that the current market conditions call for caution. This disparity in opinions has resulted in a state of uncertainty among traders, as they grapple with the decision of whether to buy, sell, or hold their BTC positions. In light of this confusion, we would like to encourage you to consider pausing your BTC trading activities temporarily. By taking a step back and observing the market dynamics from a neutral standpoint, you can avoid making hasty decisions based on conflicting signals. Instead, it may be prudent to closely monitor the situation and wait for a clearer indication of BTC's future price direction. As we navigate the ever-evolving landscape of cryptocurrency trading, it is essential to remember that patience and a well-informed approach are key. By staying informed about the latest market developments and seeking insights from reliable sources, you can make more informed decisions that align with your investment goals. In conclusion, the ongoing Bollinger Band battle for BTC has left investors perplexed about its future price direction. We recommend exercising caution and pausing BTC trading temporarily to gain a better understanding of the market's next move. As always, staying informed and seeking professional advice are crucial components of successful investing. Should you have any questions or require further assistance, please do not hesitate to comment away. We are here to support you in navigating the cryptocurrency landscape. I wish you continued success in your investment endeavors.
by bryandowningqln
Celebrating BTC's Breakthrough and Fed's Rate Pause Extension! I bring you exhilarating news that will surely put a smile on your face - Bitcoin (BTC) has defied all odds and broken through the FWB:27K mark! What an incredible milestone for the world's leading cryptocurrency! But that's not all! In a further stroke of luck, the Federal Reserve has announced an extension of its rate pause. This exciting combination of events has created a perfect storm of opportunity for those who are ready to seize the moment and long BTC. The recent "death cross" formation has sparked some concerns among traders, but BTC has proven yet again that it is a force to be reckoned with. This remarkable breakthrough not only showcases the resilience of Bitcoin but also reinforces the growing confidence in its potential as a long-term investment. Now, let's talk about the call-to-action that I'm excited to share with you. With BTC's recent surge and the Fed's rate pause extension, it's an ideal time to consider long positions in Bitcoin. By taking advantage of this favorable market sentiment, you can potentially maximize your profits and ride the wave of BTC's upward trajectory. Here are a few reasons why you should seriously consider going long on BTC: 1. Strong Momentum: BTC's breakthrough demonstrates its ability to defy market expectations and maintain a strong upward momentum. This positive sentiment is likely to attract more investors, further fueling its growth. 2. Institutional Adoption: The increasing acceptance of Bitcoin by major institutions has been a game-changer. As more institutional players enter the market, it adds credibility and stability to BTC's value, making it an attractive long-term investment. 3. Market Volatility: While volatility can be unnerving, it also presents lucrative opportunities for traders. BTC's recent surge is a testament to its ability to weather market fluctuations and provide substantial returns for those who are willing to take calculated risks. So, my fellow traders, let's embrace this momentous occasion with enthusiasm and a positive outlook. Consider taking a long position in BTC to capitalize on its upward momentum and potentially reap substantial rewards. As always, please exercise caution and conduct thorough research before making any trading decisions. The cryptocurrency market can be volatile, but with careful analysis and a well-informed strategy, you can navigate these waters successfully. If you have any questions or need assistance with your trading endeavors, please don't hesitate to comment below. Wishing you continued success and profitable trades!
BITSTAMP:BTCUSDLong
by bryandowningqln
Will BTC Hit Year-to-Date High? Let's Stay Calm to Avoid ChasingHey there, fellow traders! It's time to dive into the exciting world of Bitcoin once again. As we approach the end of the year, many of us are eagerly wondering whether BTC will reach its year-to-date (YTD) high. While the anticipation is high, it's crucial to maintain a level-headed approach and avoid the temptation of chasing the market. So, let's take a closer look at the situation and make wise decisions together! Understanding the Bitcoin Market: Before we jump into predictions, let's remind ourselves of the volatile nature of the cryptocurrency market. Bitcoin has always been known for its wild price swings, which can be thrilling and nerve-wracking. It's important to remember that past performance is not always indicative of future results. So, let's approach this topic with a happy and optimistic tone while keeping our expectations grounded. Analyzing the Current Market Trends: As we assess the current market trends, it's clear that Bitcoin has experienced significant growth this year. We've witnessed impressive rallies and breakthrough moments that have left many of us excited. However, it's essential to remember that retracements and corrections are inherent to any market, including Bitcoin. These fluctuations should not be seen as a sign of doom but rather as an opportunity for careful consideration. Avoid the Temptation to Chase: While the thought of Bitcoin hitting its YTD high may be enticing, it's crucial to avoid chasing the market. FOMO (Fear of Missing Out) can cloud our judgment and lead to impulsive decisions that may not align with our trading strategies. Remember, successful trading is a marathon, not a sprint. Let's not let short-term excitement overshadow our long-term goals. Call-to-Action: Stay Calm and Stick to Your Plan! Now, more than ever, staying calm and sticking to your trading plan is important. Here's a friendly reminder of some essential steps to follow: 1. Set realistic goals: Define your objectives and establish a clear plan. Be patient and avoid getting caught up in short-term market fluctuations. 2. Diversify your portfolio: Don't put all your eggs in one basket. Consider diversifying your investments across different cryptocurrencies and other asset classes. 3. Stay informed: Keep up with the latest news, market trends, and expert opinions. Knowledge is power, and being well-informed will help you make better trading decisions. 4. Practice risk management: Always set stop-loss orders and manage your risk effectively. This will protect your capital and prevent significant losses in unexpected market movements. Conclusion: As we eagerly await Bitcoin's potential YTD high, let's remember to approach the market with a happy and optimistic tone. Avoid chasing the market and make informed decisions based on your trading plan. By staying calm and sticking to your strategy, you'll be better equipped to navigate the ever-changing world of cryptocurrencies. Happy trading, and may the Bitcoin market bring us all joy and success!
BITSTAMP:BTCUSD
by bryandowningqln
Bitcoin Will Rise Bullish SidewaysDaily TF and Bigger Picture Bullish 30 Min. is currently bearish,Bitcoin needs to fill the previouse Gaps southern area.I have marked them for you. The gaps have to be filled first, because BTC rose too fast and it needs to pick up the buy orders that areas.. Otherwise, the Bull trend will be slowed down. I am long, and stay long. The VP is trending Bullish, The POC lies above 26980.This is a strong sigal and Indicatr that the market should and will retur back to those areas. In northern areas we have very high volumes. Above 26000 we will experience higher buy pressures. I have market key level prices for you. Geerally this correction is necessary and healthy for BTC as it offers many buying oppurtunieties at support areas and turning key levels. Below 19000 The bearish trend will be started.
CAPITALCOM:BTCUSDLong
by DaveBrascoFX