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BTC: Aims for $69k!BTC Update: BTC has reached the expected target range of $61k in the lower timeframe. The higher timeframe for BTC appears positive and could rally as high as $69k in the coming days. In the past, whenever BTC hit the descending support trendline, it bounced back by 20% or more. A couple of weeks ago, BTC dropped as low as GETTEX:49K but managed to maintain the daily close at the support trendline. The price has bounced back and may continue to rise. The lower support for BTC remains unchanged. I hope this update was helpful. Make sure you do your own research before investing. Trade safely."
Long
by Dexter_The_Trader
2
Bitcoin miners could be making $14 billion annually via AI Bitcoin miners have a shot at pulling in an extra $14 billion every year by 2027, but not by sticking to just mining Bitcoin. The real money could be in feeding energy to AI and high-performance computing (HPC). According to VanEck, these miners have the power AI companies desperately need, and the potential profits are massive. With AI demand for energy skyrocketing, miners could be sitting on a goldmine—if they play their cards right. VanEck sees a big arbitrage opportunity here—basically, Bitcoin miners could be undervalued when you consider their potential role in the AI sector.
BINANCE:BTCUSDShort
by ShumbaFx07
Bitcoin's Wobbly Recovery: Death Cross Looms LargeBitcoin (BTC) has experienced a rollercoaster ride in recent days, with a 4% price rebound following a sharp decline that sent shivers down the spines of investors. The digital currency's volatility has been exacerbated by the ominous specter of a "triple death cross," a technical indicator that often precedes significant price drops. The triple death cross occurs when three key moving averages converge, signaling a bearish trend. While not a definitive predictor of market movements, it has historically been associated with downturns. This technical pattern, coupled with negative funding rates and a general risk-off sentiment among traders, has fueled concerns about a potential plunge below the critical $50,000 level. Funding rates, a measure of market sentiment, have dipped into negative territory, indicating that traders are increasingly bearish on Bitcoin's short-term prospects. This pessimism is likely influenced by a combination of factors, including macroeconomic uncertainties, regulatory concerns, and the overall crypto market's volatility. Despite the recent price recovery, Bitcoin's inability to capitalize on positive news, such as strong economic data, has raised eyebrows among analysts. Some experts believe that the cryptocurrency's underperformance compared to other assets like gold highlights a broader loss of investor confidence. However, not all analysts are convinced that a catastrophic price drop is imminent. Some point to Bitcoin's historical resilience and argue that the current weakness could be a buying opportunity for long-term investors. They emphasize the importance of maintaining a long-term perspective and avoiding panic-selling. As the crypto market remains highly volatile, traders and investors alike are closely monitoring Bitcoin's price movements. The formation of the triple death cross and the accompanying negative sentiment have undoubtedly created a challenging environment, but the ultimate direction of Bitcoin's price remains uncertain. Only time will tell whether the digital currency can weather the storm and resume its upward trajectory or if it will succumb to the bearish pressures and plunge below the crucial $50,000 support level. Disclaimer: This article is for informational purposes only and does not constitute financial advice. It is essential to conduct thorough research or consult with a financial advisor before making investment decisions.
BITSTAMP:BTCUSDShort
by bryandowningqln
6
Could this be the most logical drawing ever made for #Bitcoin ?#Bitcoin 1W chart; As followers may remember, we have interpreted the Bitcoin chart from many different perspectives before, so let's look for different meanings from a different perspective; The first thing I would like to draw your attention to is the RSI signal that formed at the top of 2021 before falling. These signals are valuable for charts because they foretell that the market can't move any further in that direction. After the signal at the first top of 2021, there was a deep drop of around -50% . Fibonacci shows us here that after completing its decline in value between 0.5 and 0.618 (golden ratio value) , it started to rise again. In fact, the bear cycle started after the same mismatch on the RSI side for the second time. So we had 2 serious rises in the bull cycle in 2021. Now... What do we see after the first drop in 2021? We see that the 50 EMA (50-day moving average) yellow line was broken with a hard candle in the first place, then there were closures above and below this zone for 10 weeks , and then it experienced its second peak rise. Now let's look at the current cycle, the 2nd Fibonacci values. Here again, we can see signals on the pre-decline RSI, but they are more pronounced on the daily chart. With Bitcoin's decline, we see that it broke the 50 EMA with a hard candle pin, as it did in the previous cycle. Under normal circumstances, we should statistically expect it to rise after 10 weekly candles in total, as it did the previous time. However, there is an important point here. The Fed Rate Decision Meeting to be held on 18.09.2024 , which I indicated with a yellow vertical dash line (it appears as 16.09 because the chart is weekly) As I stated in my previous articles, I expect the first interest rate cut to be made on this date. Accordingly, after the 50 EMA is broken, we have a total of 7 weeks until the meeting date. Accordingly, if Bitcoin will come back to the Fibonacci golden ratio range as in the previous cycle, then we should expect a sharp decline from the current level because time is running out. I would like to add a footnote here; the previous Fibonacci took support from 0.618 (golden ratio) and created a balance in that region. In today's decline, it took this support at 0.5. Therefore, it may not want to see the 0.618 level. 0.5 levels point to around $48k. If you remember, in another previous Bitcoin chart I drew a Bullish harmonic pattern starting from around GETTEX:48K , you sometimes ask me if my bearish expectation is still valid. How can I be bullish when all the different perspectives I have drawn and tried to show you are all bearish. Let's come to our 3rd Fibonacci levels. I think that the highest level for #Btc in this cycle could be a level between $102k and $122k and I show you the reasons why I think so on the technical chart. You will never see any imaginary and emotionally driven odds, rockets, flaming tweets from me. I think we will leave this market on time thanks to the bearish signals that Bitcoin will show when it reaches its peak in this cycle. If you have read this far, you can support me by liking, commenting and sharing. Love ✨
by ugurtash
2
#BTC/ETH#BTC #BITCOIN The price is moving in a descending channel on the 4-hour frame and is adhering to its limits well, and the price has reached the upper limit of the channel The price is now $22.40, which is the entry price Targeting the $21.50 area, which is the lower limit of the channel There is a strong resistance point at the upper limit of the channel that supports the decline We have a trend-hop on the RSI indicator, but more declines are expected on it
Long
by CryptoAnalystSignal
Bitcoin - It's THIS SIMPLE ! (⊙ˍ⊙)Bitcoin from the monthly view gives us a very clear indication o where we are in this cycle, specifically compared to the previous cycle. A few points that are noteworthy from this perspective: ❗ Perfect Elliot Wave Theory playing out ❗ Currently in Corrective wave 3-4 ❗ Still making HIGHER lows, still bullish I've said this last year, and I'll say it again now - BTC loves Decembers. This month is notoriously bullish for Bitcoin. It's likely that we spend another few weeks before starting to move in that direction. Also remember that a consolidation under resistance is always a BULLISH sign. Don't miss yesterdays update on SEI, where a good buying zone is approaching: ________________ BINANCE:BTCUSDT
Long
by Crypto-Check-
8
Brace for Bitcoin's Bounce: A Big OpportunityThe price of Bitcoin is moving in a broadening wedge pattern. Recently we saw a flash dump in the market after the unexpected CPI data figures. After this dump, the market is in fear. But this is a good time for accumulation. We have to focus on buying these kinds of dips. Historically we saw the same price pattern in the 2020 COVID-19 crash. BlackRock didn't sell at all, they added more. ETF in and outflows are solid and healthy." So nothing was very scary from the ETF buyer side. The whales added up a mind-blowing 400,000 BTC in just 30 days. That's 2% of the entire supply. It's clear to observe that the "Smart money" hasn't panic-sold, but panic-bought in. Currently, BTC is trading at $59,276. After filling the CME gap at $59,350 - $62,520 the price was rejected from the resistance zone (Green) at $62,581.29 - $63,637.42. We might see the price could test the broadening wedge support line and fill 50% of the wick. Then we see a good bounce in the price, as we told you in our previous video analysis. This week, things are about to get wild. On Tuesday, the Producer Price Index (PPI) data will be released, followed by the Consumer Price Index (CPI) numbers on Wednesday. These reports are likely to create significant market volatility and pave the way for an upcoming rate cut. The inflation data is anticipated to exceed expectations, providing the September FOMC meeting with ample justification to begin cutting rates.
by TheCryptoCity
BTCUSD opportunity to buy backBTCUSD analysis on 12/08/2024: BTCUSD is showing an upward trend after a correction to around 49000. BTCUSD did not have a deep correction as expected, but it is currently a good trading opportunity. The current trend for BTCUSD is LONG. Key price levels to note: 56000 - 56700; 55000 - 55200; and 53000 - 53200. Recommended orders: Plan 1: LONG BTCUSD zone 56300 - 56600 SL 56000 TP 57700 - 59000 - 60000. Plan 2: LONG BTCUSD zone 53000-53200 SL 49600 TP 55100 - 57700 - 60000.
COINBASE:BTCUSD
by wetdyerap
4
Bitcoin Sunday Review - Expectations & Trade IdeaBitcoin Price Action and Trade Idea: Analyzing the Current Market Movements In this video, I analyze the current Bitcoin price action and share my thoughts on where the market might be headed next. I highlight key inefficiencies in the market that could present trading opportunities and present a specific trade idea to capitalize on these movements. Whether you're an experienced trader or just starting out, this video offers valuable insights and strategies for navigating the Bitcoin market.
Long
by SerenityEquity
4