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Bitcoin Price Prediction !!Bitcoin has been trading sideways within a broad range for an extended period, frustrating traders who have been eagerly anticipating a breakout. The current price action suggests that a significant move, either upwards or downwards, is imminent. In this analysis, we will explore two potential bearish scenarios and one bullish breakout scenario, along with key factors influencing price movements. Key Factors to Consider Declining Bitcoin Dominance: Bitcoin's dominance over the altcoin market is gradually decreasing, indicating a potential shift in investor sentiment. This could lead to a redistribution of funds across the cryptocurrency landscape. RSI Nearing Critical Zone: The Relative Strength Index (RSI) on the weekly timeframe is approaching the 70 level, which is considered a bearish zone. A break below 70, confirmed by a 4-hour candle close, could signal a significant decline in Bitcoin's price. Scenario 1: Bearish Breakdown In this scenario, Bitcoin fails to break above the current range and experiences a bearish breakdown. Rejection at 68,000: Bitcoin could face resistance at the 68,000 level, triggering a drop towards 60,000. This rejection could be due to profit-taking by traders who have accumulated at lower prices. Liquidity Vacuum at 60,000: The 60,000 zone has witnessed significant outflows, with many traders selling their Bitcoin holdings. This lack of liquidity could amplify the downward move. Further Decline to 56,700 and 52,000: If the selling pressure persists, Bitcoin could extend its decline to 56,700 and eventually reach 52,000, representing a significant bearish target. These levels have historical support and could act as potential buying zones. Scenario 2: Temporary Pullback Followed by Rebound In this alternative scenario, Bitcoin experiences a temporary pullback before resuming its upward trajectory. Retest and Consolidation at 73,800: Bitcoin could retrace to the 73,800 area, allowing whales (large cryptocurrency holders) to accumulate and prepare for a potential breakout. This consolidation phase could provide support for the price. Potential Sell-off at 73,800: Once the accumulation phase is complete, a sell-off could ensue, pushing the price back towards 60,000 and 52,000. This sell-off could be triggered by profit-taking from whales or a shift in market sentiment. Bullish Breakout: If Bitcoin manages to close a daily candle above 74,400, it could invalidate the bearish scenarios and potentially signal a breakout towards 81,000, marking the start of a new bullish cycle. This breakout could be driven by positive news, increased institutional adoption, or a surge in buying pressure. Conclusion The current price action of Bitcoin suggests a higher probability of a bearish move in the near term. The declining Bitcoin dominance, the RSI approaching the critical zone, and the historical support levels at 60,000 and 52,000 all point towards a potential downward trend. However, the possibility of a temporary pullback followed by a rebound or a bullish breakout cannot be entirely ruled out. Traders should exercise caution and carefully monitor market developments before making any trading decisions. Disclaimer: This analysis is based on technical indicators and market observations and should not be considered financial advice. Please conduct your own research and make informed trading decisions based on your risk tolerance. Which one do you like?
BINANCE:BTCUSD
by Crypto-Oracle1
BTC in ABC correction wave! Last short movement before new ATH?Hello guys! New trading week started, so finally we can see some clear picture at BTC chart. Seems like we moving in ABC Elliot Correction Wave, now in B wave and seems like we will see C wave this week. Plus we have descending volumes. The area to open position from current price till 67.500$. SL and TP marked at the chart. Important! Always follow RM strategy. Do not trade more than 2% of your deposit! What's your thoughts guys?
BINANCE:BTCUSDShort
by SheTradesHub
2
BTC - ☀️ & Bullish Potential For The Next Week A very strong sun shines over Bitcoin and Chainlink in the next 24 hours, indicating some upside potential lying ahead. Other altcoins, including Ether, Ripple’s XRP and Cardano will also profit from this bullish trend, while Litecoin and Uniswap face bearish clouds. These sunny bullish trading conditions should prevail over the cryptoverse the coming week, as leading tech companies will announce their quarterly results. Avalanche, Binance Coin and Uniswap won’t profit from this bullish mood and face bearish clouds, which signal downside risks. “A massive supply shock is coming. With the Bitcoin halving, miners can now only produce 450 BTC each day. The ETFs in the US have bought up around 3,214 BTC on average each day. This number could increase significantly when Hong Kong ETFs start trading,” the crypto profile Lark Davis said. Analysts at leading banks disagree on whether the price of Bitcoin will continue up following Friday’s halving. Deutsche Bank expects prices to “stay high due to expectations of future spot ether (ETH) ETF approvals; future central bank rate cuts; and regulatory changes” but do “not expect them to increase significantly,” Bitcoin.com reports. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
Bitcoin Weekly Analysis Here's the corrected version: BTC continues to lead in this bullish market, reaching a new all-time high. Initially, we anticipated the price to target $75,000 as an algorithmic prediction, but it fell short and stopped at $73,800, likely trapping buyers who had set psychological targets for $75,000 and $80,000. The drop in BTC is healthy after the significant gains we've witnessed in this bullish trend. It seems BTC is taking a breather, with buyers who entered around $15,000 and $30,000 now taking profits to accumulate at better prices. Following the halving, predicting BTC's behavior becomes more uncertain, but historical data suggests BTC tends to reach new highs after halving events. From a technical analysis standpoint, we identify a sweet spot for accumulating BTC between $47,000 and $39,000. Breaking above $52,000 and closing above it on a weekly basis would likely propel the price to $47,000 and $42,000. In terms of market dynamics, we have significant funds from the USA, and now China is also getting involved. This suggests that BTC is unlikely to drop to low prices like last time. Best of luck to everyone, and I'll provide updates if I observe any changes in the analysis.
COINBASE:BTCUSD
by Deotrade1
BTC Price UpdateHi guys, hope you are all doing good. As we have predicted about BTC in our last post that BTC can grab liquidity between 59k to 62k and revert from this point, BTC followed our plan successfully. Alts were bleeding last when BTC dropped now we seeing good recovery start from Alts. As we have mentioned in the last post there is huge liquidity resting in yellow zones at 67k , 71.5k and 74k BTC will try to grab those liquidity and it will be a case if it flip the big resistance of 64.6k. BTC is actually range bound and it is testing lows and highs from last few days and we are hopping that this cycle will for coming few weeks. But these coming weeks will be the last best opportunity to buy BTC at such a good price. BTC halving has been done and in the pre halving normally market retraces more but at this time due ETF and huge players entry it did not retrace that much. So, in the post halving we expect that it will continue the same range bound behaviour for coming few weeks. BTC after testing highs it can again test its lows, so be prepared and vigilant. As BTC dominance is also falling so Alts are showing recovery, one good advice that you guys should follow. Start buying Alts, start filling your bags not all at one time, but the current price is the good opportunity in long term. For Alts we are hoping they will recover good and soon, so I repeat again start filling your bags slowly and DCA if it drops from first buying price because after few BTC will sky rocket and Alts will also follow as many have pumped 200 to 300 percent already from pre ETF consolidation. I hope this is enough information for now. We will share some more updates in coming days. Thanks @everyone
Long
by TheCryptoCity
Bitcoin potential scenarioAfter an aggressive pullback though the range it is possible that the pre-halving dump is done with. BTC's price got to a level where it no longer seemed a viable buy and will need either a pullback to offer better value or a period of reaccumulation which is what we may have experienced in the previous weeks. I have mapped the Wyckoff reaccumulation schematic over the recent range and it more or less fits, bearing in mind it will never fit perfectly. I looked at both the distribution schemas and schema 2 is a potential fit but without the UTAD in phase 2. We'll soon know if the range's low is broken and retested Confirmation that we are at least moving up to the higher end of the range will be if we break and retest 64516 with an H4 context
Long
by Kram_Capital
1
Bitcoin Bullish Analysis!!Despite recent market jitters and bearish sentiments stemming from a significant drop, I remain bullish on Bitcoin IF we hold above 64500, particularly in a higher time frame analysis. The recent downturn may seem daunting, but it's crucial to recognize that such fluctuations are often part of Bitcoin's volatile nature, especially in the midst of its ongoing bull market trajectory and the upcoming Halving. In this analysis, I've employed the Fixed Range Volume Profile tool, which is readily available on TradingView for free. By pulling the fixed range volume profile from the inception of the triangle formation to the current price, several key insights have emerged. Firstly, it's noteworthy that price found robust support at the Value Area Low (VaL) of $64,550 at the start of April. Subsequently, we witnessed a temporary rejection from the Value Area High (VAH) of $72,440 on Monday, April 8th. As for now, price is hovering below the previous day's open of $69,360. A possible scenario I'm considering involves a potential retracement towards the 0.5 Fibonacci level and the base of the triangle. Notably, at this juncture, we encounter another significant level of confluence: the Fixed Range Volume Profile (FRVP). The red line within the FRVP denotes the Point of Control (POC), situated within the $67,000-$66,800 range. This area holds the potential to serve as a support zone. Maintaining an overarching bullish sentiment, it's essential to acknowledge the imminent halving event and the ensuing price fluctuations it may entail. As long as we remain entrenched within the confines of the triangle without flipping it as resistance, alongside holding the POC, red line, and the base of the triangle as support, we can anticipate higher price trajectories. However, it's prudent to exercise caution and monitor closely the $68,000 area, which coincides with the monthly Volume Weighted Average Price (MVWAP). In terms of actionable trading strategies, I'm eyeing long positions for shorter time frames (STF) around $68,450 as a POC of the last drop/$67,000 area at the base of the triangle in case of another drop, with a cautious approach after reclaiming. For higher time frame (HTF) longs, I'm considering entry at $65,550 as a Naked POC made on April 4th. Conversely, shorts could be considered for shorter time frames (STF) at the $71,300-$71,700 area and for higher time frames (HTF) at the all-time high if signs of weakness manifest as a failed action. *STF trades should be monitored closely, taking profit within the first reasonable sign of weakness! In conclusion, while short-term fluctuations may rattle market participants, a broader perspective reveals a bullish outlook for Bitcoin, underscored by technical analyses and market dynamics. **Disclaimer: This analysis is for informational purposes only and should not be construed as financial advice! Apr 15 Comment: Yesterday witnessed a triangle fakeout,leading to a significant drop and triggering numerous stop losses,with the price plummeting as low as $60,660.Despite this,the bullish sentiment remains intact in the macro perspective. Currently trading around $64,000,with the range low at $58,700,we've seen attempts to reclaim the Value Area Low (VAL) from the Fixed Range Volume Profile (FRVP) I utilize on TradingView. Recent fundamental events,such as the Iran attack on Israel,underscore the importance of considering external factors in our analysis.While these events can influence the charts,a cool-off in price action is evident. In the macro analysis,a bullish divergence is observed in the Cumulative Volume Delta (CVD), suggesting potential upside momentum.However,confirmation of the reclaim at the VAL of FRVP at $64,050 is essential to consider further bullish scenarios. On the other hand,losing the range low $58.700 and flipping it as resistance could signal further downside,with targets as low as $50,000,especially in the event of a black swan occurrence. I'm very proud of those who took the short position from my last idea at $71,300! Actionable trades include shorts from $67,136 in smaller time frames (STF),focusing on the previous day's open and the FRVP Point of Control (POC)see red Line if weakness persists.Long positions at $61,200 as the previous day's Value Area Low (pdVAL) and $62,000 as the previous day's Point of Control (pdPOC) with caution and confirmation first from a strong bounce,present opportunities.HTF longs from range low $58,700 if fake out happens. *STF trades should be monitored closely,taking profits within the first reasonable sign of weakness! *Exercise patience and wait for levels to be tested,reacting accordingly.Despite prevailing bearish sentiments,maintaining the range low as support favors long trades.Be mindful of potential short squeezes amidst widespread bearish sentiment. Stay tuned for more updates and actionable trading ideas!
Long
by GeorgeZoros
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