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#BTC/USD Forecasts Suggest a Rally to $85,000 in Q3!📊 BTC/USDT Technical Analysis by Cryptorphic 📊 As of June 3, 2024, BTC/USDT is showing promising signs of a potential breakout. The price action is currently testing the upper boundary of the bullish flag in weekly, with significant support levels around $62000. 🔍 Key Levels: - Support: $62,959.01 - Resistance: $69,001.80 (Current Price) The 200 EMA has acted as strong support, with the price bouncing off the highlighted support zone multiple times. The recent bullish momentum suggests a breakout could be imminent. 🟢 Bullish Scenario: - A breakout above the current resistance of around $69,000 could propel BTC towards the next psychological level of $72,000 and beyond. According to Fibonacci extension levels, BTC could reach approximately $86,700 within the next 6-8 weeks. 🔴 Bearish Scenario: - Failure to break above the resistance may lead to a retest of the $62,959.01 support level. Stay tuned for more updates and trade wisely! 📈 Please hit the like button if you like my charts. Thank you #PEACE
GEMINI:BTCUSDLong
by Cryptorphic
2
BTC – Weekly Perspective – 02/06 to 09/06On the first day of June, the SETUP used indicates a corrective bearish pivot on the long-term chart. Will we have a correction later on, so that the cryptocurrency finally breaks free and reaches new peaks? When we analyze the impressive rise that the cryptocurrency has had in the last 16 months and trace just one Fibonacci retracement, we will see that the 50% region is around 44.6K. In my opinion, a correction as soon as possible is completely healthy, as nothing goes up forever in a straight line without there being a correction at some point in the future. Coming to the daily chart, we have prices on the verge of forming a corrective pivot, with enough strength to reach 44.5K, if prices do not remain above 69.6K. The most interesting thing is to see that we have a confluence between the values ​​provided by the Fibonacci retracement of the rise, in which 50% of this correction is at 44.6K, with the corrective pivot found on the daily chart, whose final destination has the potential to reach 44 .5K, as shown in the images above. Can I trust what my eyes have just seen? To know for sure, unfortunately, I will have to live day by day. Do your analysis and good business. Be aware, if you buy, use stop loss. See other graphical analyzes below.
INDEX:BTCUSD
by MacD_Bollinger
BTC forecasting As we see here in our logarithmic chart, Bitcoin has been adhering to this trend line curve since its inception. Each year, the upward angle decreases, aligning with an increase in the duration of the ascent and a decrease in the percentage of the ascent. The correction occurs at an almost constant angle until it touches the bottom line. If Bitcoin continues on this path, I predict it will reach $102,000 by September of this year, then it will begin a correction with an angle similar to the past, reaching prices between $44,000 and $49,000, which are support zones.
BITSTAMP:BTCUSDLong
by TTM_2022
#Bitcoin Update+ Risk Check, Are you safe?12 days ago, BTC Daily faced rejection, whereas the 6-hour chart appears stable. Currently, the price is hovering at the support level. However, come Monday, the situation could shift, regardless of the direction. If Bitcoin rallies to the lower support in daily, will your position remain secure? If not, you may be overexposed! Many new traders make this mistake routinely, ultimately becoming targets for liquidation engines. I recognize that these dips, if they occur, present opportunities. I understand that I might not be able to time the exact bottom perfectly, so I take action by laddering in and increasing my exposure during downturns. I am holding a few leveraged positions with low leverage, and I plan to do the same. It's very important to manage risks when the Altcoin market is about to go parabolic! #bitcoins #AltcoinGems Do hit the like button if you agree and share your views in the comment section. Thank you #PEACE
by Cryptorphic
4
#BTC/USDT 4 Hours Technical Analysis!#Bitcoin Short-Term Analysis Bitcoin's price action (PA) is expected to be choppy in the near term, providing more consistent opportunities in altcoins. If you're trading with leverage, be prepared to see your positions fluctuate between gains and losses. Just take a look at the current price action. Key Levels to Watch: - Bullish Sentiment: Bulls need to hold the $66,888 level to maintain a bullish outlook. - Support Levels: A break below $66,888 could see Bitcoin drop to the $62,300-$63,300 range. Market Dynamics: The more stagnant and boring the price action becomes, the easier it is for market makers (MMs) to manipulate the market. Trading Strategy: - Leverage Traders: Stay focused and cautious if you're trying to scalp. - Spot Traders: Hold your positions and avoid making impulsive decisions. My thought: Amidst market turbulence, we stand firm since $16k, aiming for the long run. Stay focused with me, distractions won't sway us. I hope this helps. Cheers! Do hit the like button if you like it. Thank you #PEACE
Long
by Cryptorphic
Bitcoin Eyes $70,000 as Strong US Data Weakens Dollar Bitcoin (BTC) is experiencing a surge in price, defying expectations and climbing towards the $70,000 mark. This bullish momentum comes after the release of positive US economic data, which surprisingly weakened the US dollar. The data, including strong GDP figures and lower-than-anticipated jobless claims, has instilled confidence in riskier assets like Bitcoin across the board. Breaking Through Resistance Bitcoin has been battling resistance levels around $60,000 for the past few weeks. However, the recent economic data from the United States appears to have flipped the switch, propelling the cryptocurrency above this key barrier. Analysts believe this breakout could signal a continuation of the upward trend, potentially reaching targets as high as $70,000 or even beyond. US Dollar Loses Footing The positive US data, while traditionally seen as positive for the US economy, has had an unexpected consequence for the US dollar. Investors are interpreting the strong economic performance as a sign that the Federal Reserve may slow down its quantitative easing (QE) program sooner than anticipated. This tapering of QE could weaken the dollar's value relative to other assets, including Bitcoin. Risk Assets on the Rise The positive sentiment surrounding Bitcoin is spilling over into other risk assets. Stock markets worldwide are experiencing gains, and other cryptocurrencies are also showing signs of bullishness. This broad-based rally suggests that investors are feeling more optimistic about the overall economic outlook, which is translating into increased risk appetite. Is This a Sustainable Rally? While the current surge in Bitcoin's price is encouraging, some analysts remain cautious. The long-term sustainability of this rally will depend on several factors, including the future trajectory of US Federal Reserve policy and global macroeconomic conditions. • Federal Reserve Policy: The Federal Reserve's monetary policy decisions will significantly impact the US dollar and, consequently, Bitcoin's price. If the Fed tapers QE more aggressively than anticipated, it could lead to a sustained weakening of the dollar, benefiting Bitcoin. However, a more hawkish stance from the Fed, including interest rate hikes, could dampen investor enthusiasm for riskier assets like Bitcoin. • Global Macroeconomic Conditions: Global economic factors, such as geopolitical tensions and inflation levels, will also play a role in shaping Bitcoin's price. If these factors worsen, it could lead to a flight to safety, pushing investors towards traditional assets and away from Bitcoin. Looking Ahead The coming weeks and months will be crucial for Bitcoin. The cryptocurrency faces several challenges, but the recent positive momentum suggests that there is still significant upside potential. Investors should closely monitor US Federal Reserve policy decisions and global macroeconomic developments to gauge the sustainability of this rally. Key Takeaways • Bitcoin is experiencing a surge in price, breaking through resistance levels around $60,000. • Strong US economic data has weakened the US dollar, benefiting Bitcoin. • The rally is likely due to increased risk appetite as investors become more optimistic about the economic outlook. • The sustainability of the rally hinges on factors like Federal Reserve policy and global macroeconomic conditions. Disclaimer: This article is for informational purposes only and should not be considered financial advice. It is recommended to conduct your own research before making any investment decisions.
BITSTAMP:BTCUSDLong
by bryandowningqln
BTC Suprize Or Modification ? !Bitcoin at a Critical Juncture: Correction or Bullish Rebound? Bitcoin finds itself at a pivotal moment, poised for either a substantial correction or a defiant surge that could defy expectations. Scenario 1: Modification phase In this scenario, Bitcoin could embark on a downward trajectory, potentially reaching $63,400 followed by $59,900, and ultimately aiming for a target of $57,000. As evident from the chart, there are numerous support levels along the way, each with the potential to halt Bitcoin's descent and reverse its direction. However, the ultimate target remains $57,000, where a significant consolidation phase could ensue. Scenario 2: Bullish Surprise An alternative scenario presents a bullish surprise, where Bitcoin could consolidate around $66,700, gathering the necessary liquidity before making an unexpected move towards $68,900 and potentially reaching $72,000. Your Perspective Based on the current market dynamics and technical analysis, do you anticipate Bitcoin to take a short position or a long position? Disclaimer: It is crucial to emphasize that this analysis does not constitute financial advice. Cryptocurrency trading is inherently risky, and individuals should conduct thorough research and exercise due diligence before making any investment decisions.
by Crypto-Oracle1
#Bitcoin Daily Update!BTC/USDT Technical Analysis! 🔹 Current Price: $68,390 🔹 Strong Support: $62,433 🔹 Resistance: $73,000 BTC closed with a red daily candle at $68398 and is still trading sideways. It recently broke out of a symmetrical triangle, indicating potential upward momentum. This sideways PA is the reason why Alst are breathing green. Watch for a break above $73,000 for further gains towards $81,000. If it falls below $66,400, it may retest $62,433 level. dyor, nfa #Crypto CRYPTOCAP:BTC #bitcoinalpha Please hit the like button to support. Thank you #PEACE
Long
by Cryptorphic
1
Bitcoin Rainbow Chart hints at the right buying time | 28.05www.blockchaincenter.net Investors’ confidence in Bitcoin (BTC) has somewhat dwindled as the king of crypto fails to go above $69k. However, the Bitcoin Rainbow Chart revealed that BTC was actually mimicking its 2020 trend post-halving. The revealed that after months of its third halving, the Bitcoin Rainbow chart revealed that the coin entered the “BUY” zone. After remaining in that zone for a few months, BTC’s price skyrocketed. A similar trend was seen in BTC’s 2024 Rainbow chart, as it indicated that the coin was in the buy zone. If that is to be considered, then this might just be the last opportunity for investors to buy BTC at a lower price before it moves up and enters the accumulate and HODL zones. Like metrics, most of the technical indicators also looked bearish. For instance, the MACD displayed the possibility of a bearish crossover. The Relative Strength Index (RSI) registered a decline, indicating a price drop soon. Nonetheless, the Chaikin Money Flow (CMF) remained bullish as it went northwards. WHITEBIT:BTCUSDT
Long
by paul_endeo
Bitcoin price analysis | 27.05A detailed analysis of the daily chart shows that the $72K-$74K price range has acted as a formidable resistance for bitcoin, halting several upward attempts in recent months. This range is characterized by a high level of supply, resulting in substantial selling pressure and making it a challenging barrier for BTC buyers to overcome. Bitcoin buyers have been attempting to break through this significant resistance area for several weeks. A sudden breach above this critical juncture could trigger a notable upward movement due to a significant short-squeeze event, potentially leading to a new all-time high. On the other hand, this pivotal juncture could also act as a barrier, leading to a period of sideways consolidation and minor retracements. In this scenario, the 100-day moving average at $64.7K will serve as a crucial support level in the mid-term.
Long
by paul_endeo
#Bitcoin could hit $156,000 by May 27 2025! Here's Why!!BTC is trading at %68500 as we speak. These green boxes represent the price action after #BTC halvings. We've never seen a red year after a halving. Bitcoin halvings are significant events, here are the percentages of Bitcoin's price increase one year after each halving event to date: 1. First Halving (November 28, 2012) - Price at Halving: ~$12.35 - Price 1 Year Later: ~$1,037 - Percentage Increase: ~8,296% 2. Second Halving (July 9, 2016) - Price at Halving: ~$650 - Price 1 Year Later: ~$2,520 - Percentage Increase: ~288% 3. Third Halving (May 11, 2020) - Price at Halving: ~$8,800 - Price 1 Year Later: ~$56,000 - Percentage Increase: ~536% 4. Fourth Halving (April 19, 2024) - Price at Halving:~ $65,415 - Expected Price (1 Year Later): $115,000 - $156,000 - Percentage Increase:~ 127% at $156,000! This return is decent as compared to the previous rallies. Looking at the bigger picture is crucial if you want to see significant changes in your portfolio. If you like this content, consider bookmarking it and sharing your views in the comment section. Thank you! #Bitcoin
CRYPTO:BTCUSDLong
by Cryptorphic
10