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Bitcoin at Crossroads!Bitcoin at Crossroads! > Bias: Neutral > Key support: 58k > Key resistance: 64k Woops, we lost 64k AGAIN. That is usually translated as weakness. So we're back in this odd range where anything can happen. Not great, not terrible. What can we do next? Wait for Monday! You see, stock markets just nuked, Warren Buffet sold $50 billions of Apple stock. Do you think he's bullish? Not very much. These are times of uncertainty and the best tool you have is to follow the trend. Right now, altcoins are getting rekt, but Bitcoin still shows resilience, as does gold. Can a run to safety follow if weakens on the stock market increases? Could happen, we're in uncharted territory. It is the first time Bitcoin had an ETF on the US stock market during an upcoming recession. Interesting times for sure. Listen, if you have money. HOLD. Don't buy, don't gamble. Wait! Guard your cash like it's Bitcoin right now. Because if the market nukes, that's when you need it most. If the market pumps, take your profits and use that cash to buy in the bear market. Don't get greedy. Yesterday, I wrote a detailed guide on how to play every cycle and I also posted a viral thread about Solana (just follow the links). Not the first time. Red flags will always be obvious in hindsight. Don't dismiss them and manage your risk properly. That means you work with BTC, Gold, and USD. That's it! Monday will be a good signal where we go next. Only the US Fed can stop this train now. The ball is in their court. I do hope we get another exit window this year, then I'm out of the market (except BTC of course). Thanks for reading and hit a follow for more updates! Duo
COINBASE:BTCUSD
by DU09
3
Bitcoin BTC price, new FED rate and Powell's speech 31/07/24Today at 18.00 UTC , the Fed will announce a new rate, followed by Powell's speech. At the very least, increased volatility is guaranteed for the evening, so hedge your positions and uses stop orders and stock up on popcorn 🍿 Trading with leverage during this period is not worth it. 🤫 96% for the rate to remain unchanged - 5.5% 👎 4% for a rate cut to 5.25% today) 🔼 A rate cut is definitely an unexpected positive and a very likely breakthrough of the OKX:BTCUSDT price upwards, according to the 🐳 blue scenario. 🔽 Leaving the rate unchanged + Powell's standard comments: “the dynamics are good, but it's still far from the desired 2% inflation and blah blah blah... - this is a continuation of the correction of the CRYPTOCAP:BTC price to $62000 according to the 💔 red scenario So which scenario is closer to your heart: 🐳 or 💔 ? Write at comment (50 🚀 and we will add BTC.D and USDT.D charts to this idea)
by P_S_trade
11
Bitcoin's Next Two Years: Accumulation to Parabolic PeakBitcoin Technical Analysis: Upcoming Two-Year Cycle Market Structure Overview Current market structure analysis indicates that Bitcoin is in the final stages of its accumulation phase before a mini bull run. Key market structure zones and projected price targets for the next two years are outlined below: Accumulation Phase Current Support Zone: $57,405 - $61,302 Bitcoin is consolidating within this range, indicating strong accumulation by long-term holders and institutional investors. Mini Bull Run Projected Highest High: $91,236 As Bitcoin breaks out of the accumulation phase, we anticipate a mini bull run with the highest high reaching approximately $91,236 . This phase is expected to be driven by increasing demand and positive market sentiment. Correction Cycle Main Support Zone: $47,620 Following the mini bull run, a slow correction cycle is projected to commence, bringing Bitcoin down to a main bottom support around $47,620 . This correction is seen as a healthy pullback, setting the stage for the next bullish phase. Parabolic Bullish Cycle First Target: $139,130 From the $47,620 support zone, Bitcoin is expected to begin a parabolic bullish cycle. The first significant target in this cycle is around $139,130 , marking a substantial price appreciation. Parabolic Cycle Correction and New Targets Maximum Target: $236,000 Following the initial parabolic run, Bitcoin is projected to undergo a correction before ascending to new heights. The absolute maximum target for this 3.5-year cycle is estimated to be around $236,000. Macroeconomic Factors Influencing Bitcoin Japanese Index Decline: The recent rapid decline in the Japanese index has introduced uncertainty in the Asian markets. Investors are increasingly looking for safe-haven assets, which could boost demand for Bitcoin. US Market Sentiment: With the US markets closing in the red on Friday and gold prices reaching an all-time high, there is a growing shift towards alternative investments like Bitcoin. Japanese Yen Weakness: The continued decline of the Japanese yen is anticipated to accelerate Bitcoin’s mini bull cycle correction. This macroeconomic trend is likely to contribute to the expected decline to the $47,000 support zone before the parabolic bullish phase. Conclusion Bitcoin's market structure suggests a promising outlook for the next two years, characterized by significant price movements and opportunities for strategic investments. The interplay between macroeconomic factors and Bitcoin’s inherent market cycles underscores the importance of staying informed and agile in response to evolving market conditions.
Long
by wikitrades
4
Bitcoin Update in Daily Timeframe: $60k IncomingBTC in the higher timeframe (HTF) got rejected perfectly from the resistance trendline. BTC once again failed to break above the resistance trendline, indicating a correction in the coming days. The $60k range holds as strong support for BTC, but there's high liquidity ranging between $55k to $58k. If the price shows further correction, it will be interesting to see whether $60k holds the price or gets rejected like before. I am placing my buy orders at $60k, $58k, and $55k for spot and leverage trades. Do your own research before investing. Trade safely. Regards, Team Dexter #Crypto
by Dexter_The_Trader
BTC - Short-term Neutral, slightly bearishBTC - as of 4:39 PM MST 8/1/24, BTC is currently neutral. We held at the 50 DMA, hit some selling down to my previous target of 63k to 64k, I expect with fear and greed neutral that BTC tomorrow could easily go either way. Based on the time BTC spent on the upper part of the long-term sideways channel, we could easily see BTC test the 100 or 200 DMA. That doesn't mean it will go straight down, we might see some buyers Friday through Sunday but I expect any bullishness in the short-term will be short-lived without a catalyzing event or a positive news cycle. A break below the 200DMA could see BTC test the lower bounds of the sideways channel (50k - 52K). Will need to keep an eye on the weekly close and RSI to indicate if we flip bullish again.
CRYPTO:BTCUSD
by DClayton
BTC is going to do something interesting...CRYPTOCAP:BTC update As I mentioned, the $63.8k level is very important, and we are currently at this point. We should either bounce from here or stay around this level for a few days before rallying to $72k. The high of July 1st ($63.8k) is crucial to hold. If we trade below it for several days, we may see a deeper pullback, which I am not expecting. A prolonged dip below $63.8k could be the first sign that we are heading towards a new macro low (below $53k), potentially leading to a bear market for the rest of the year. In that case, the next significant opportunity might not come until 2025. For now, I am holding everything tightly. This is a consolidation phase, not a bear market, although altcoins might take a hit due to BTC dominance being very bullish. Only strong coins are likely to move with BTC.
by GoldenTrades_
BTC Breakdown After Failed 5th Attempt at New ATHWe've been watching the upper trendline for weeks and saying that since breakouts usually happen on the 3rd or 5th attempts... That a failure (which we just had) to break above the upper trendline shown here or to ATH on this attempt, would likely lead to a deeper correction which we're starting to see. Plus our custom indicators have all rolled over to Red. Currently it's looking like $62k is next support block of buyers. Some are speculating that was the top, and whale sellers are front-running a recession. But comparing this year's chart looks a lot like prior Bitcoin bull-runs, just before the parabolic rise happens. Specifically like 2016, when there was months of stagnation near the old high.. Just before the big explosion in price. What do you think??
COINBASE:BTCUSDShort
by BrettFogle
1
#BTC/USDT Update, Breakdown or a Deviation?#Bitcoin is breaking down on the 4-hour chart, with daily support around $64,300. A break below daily support could potentially take BTC down to $60k. I believe this choppiness will persist for a while. It might be wiser to stay on the sidelines for now. Use strict stop losses in leveraged trades and hold onto your spot positions with diamond hands. Even if BTC dips yo the lower levels we will get some good deals in Altcoins. Let me know what you think in the comment section. Please hit the like button. Thank you #PEACE
by Cryptorphic
5
BITCOIN Crucial Breakout or Pullback Ahead?As I illustrated in the previous analysis, The price is currently forming a new parallel channel between the price range of $63,000 and $69,000. According to the volume and price chart, It is approaching an important resistance level at $68,000 once again. If it breaks this level upwards and sustains above it, We will witness a relatively good growth and it will hit our main target of $70,000. However, if it fails to maintain above this level, We will see a decline and a ranging market similar to last week. 📖💡 Feel free to express your perspective by commenting below. Thanks! 🐋
Long
by MadWhale
6
#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
Record Bitcoin Open Interest Suggest BreakoutBitcoin's open interest, a metric that measures the total number of outstanding derivative contracts, has recently hit a new all-time high. This significant surge has ignited speculation among market analysts and investors about a potential price breakout for the world's largest cryptocurrency. Open Interest: A Market Sentiment Indicator Open interest is often used as a proxy for market interest and liquidity in an asset. A rising open interest typically indicates growing investor participation and a potential increase in price volatility. Conversely, a declining open interest can signal waning interest and a potential price correction. In Bitcoin's case, the current record-breaking open interest suggests a heightened level of investor engagement. This heightened interest could be driven by a variety of factors, including anticipation of regulatory clarity, institutional adoption, and the halving event scheduled for 2024. Potential for a Price Breakout While a high open interest does not guarantee a price breakout, it certainly increases the likelihood of significant price movements. If the market sentiment remains bullish, the accumulated buying pressure could propel Bitcoin's price to new highs. However, it's essential to remember that open interest is just one factor to consider when analyzing market trends. Other indicators, such as technical analysis patterns, on-chain metrics, and macroeconomic conditions, should also be taken into account. Cautious Optimism While the recent surge in Bitcoin's open interest is undoubtedly bullish, investors should approach the market with caution. The cryptocurrency market is known for its volatility, and price fluctuations can be rapid and unpredictable. Additionally, it's crucial to diversify your investment portfolio and avoid putting all your eggs in one basket. Cryptocurrencies are still a relatively new asset class, and the regulatory landscape is constantly evolving. As the cryptocurrency market continues to mature, we will likely see more sophisticated investment strategies and risk management tools emerge. Until then, investors should stay informed and conduct thorough research before making any investment decisions. Ultimately, the future price of Bitcoin will depend on a combination of factors, including investor sentiment, market liquidity, regulatory developments, and technological advancements. While the current open interest data is certainly encouraging, it's essential to maintain a long-term perspective and avoid getting caught up in short-term price fluctuations. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Conducting thorough research or consulting with a financial advisor is strongly recommended before making investment decisions.
BITSTAMP:BTCUSDLong
by bryandowningqln
#BTC/USDT Update, $70k on radarAfter 139 days of consolidation, we're witnessing the fifth attempt to break the resistance. Patience is crucial; we need to wait for a confirmed breakout. In the meantime, we'll keep buying the dips for altcoins. **My Thoughts:** BTC is likely to break the $70k zone. The "sell the news" reaction following Trump's speech was quickly bought up. Bulls and institutions are loading up while retail investors remain cautious, waiting for another dip. This creates an ideal scenario for BTC to break to the upside. Let me know what you think in the comment section and please hit the like button. Thank you #PEACE
Long
by Cryptorphic
1