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Btcusdanalysis

Bitcoin Monthly candle close Sequences since 2011#Bitcoin Monthly Candle Close Count since August 2011. After a poor start, July closed GREEN, keeping to the monthly trend. Previous August closes, there are more RED closes in August than Green, 8 to 5 Respectively. When the previous July closed Green, On 5 occasions August was also Green and on 3 occasions it closed Red. When July and August have closed Green, only on one occasions Was September also Green. That was in 2012 It can be said that everytime there was a GREEN August candle Close, BTC was on its way to a New ATH. This months candle is an important one to watch
BITSTAMP:BTCUSD
by Orriginal
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
Major Correction in Bitcoin: Is Next Bull Run Around the Corner?Yello, Paradisers! Is #BTCUSDT on the verge of a major breakout, or are we headed for a deeper correction? 💎After testing the lower descending supports, #Bitcoin had a massive upside run, hitting strong horizontal resistances between $67,300 and $68,200. This rally has now paused, and the price has entered a corrective phase. 💎Since this morning, selling pressure has dominated, but Bitcoin found support in the $63,400 to $62,950 region, reinforced by both horizontal and EMA-based supports. This support level is witnessing strong short-covering. If Bitcoin can maintain this support over the next few hours, a rebound towards $65,300 and $66,800 is likely, potentially challenging strong resistances ahead. 💎However, if this support fails, we could see a drop towards the Fibonacci and strong horizontal supports between $60,000 and $58,000. A decline to these levels would also fill the CME gap. 💎If Bitcoin can maintain its minor support region over the next few hours, price could see a rebound targeting $65,300 to $66,800. Overcoming these levels is crucial for Bitcoin to challenge its key descending resistances. Breaking through this pivotal descending resistance at $69,800 to $70,250 could trigger a significant bull run. Stay sharp, Paradisers, and monitor these key levels closely. Discipline and patience are essential for navigating these volatile times. MyCryptoParadise iFeel the success🌴
BINANCE:BTCUSDLong
by MyCryptoParadise_Jack
4
Bitcoin adjusted to market cycleI think something like this make sense? We are at a 1st leg or wave of impulse, that is led by early adapters. 2nd leg up would be BTC outperforming SPX. 3rd wave would be a market chop w/ still some opportunities. 1st wave -> buy when it's cheap (bellow 70k crowd). Then comes rally to 120-150k. Before it becomes too expensive. 2nd and 3rd wave are led by ppl missing on a bandwagon, good returns. No crystal ball, see what happens:) > Driver is the rate cuts and money at money market funds. You can also see how divergence in BTC/SPX graph was the market top for btc.
BITMEX:XBTLong
by citsvar
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: Bearish Divergence in 6-Hour TimeframeWhat a rally it was for BTC in a shorter timeframe! As per our previous analysis, BTC rebounded exactly from the support level of $63.5k, but it hasn't reached the target as expected. BTC has yet to hit the $70k target, and if it maintains this level, we are likely to see it soon. Current scenario: BTC is under a rising wedge pattern, and the RSI is forming a bearish divergence. This indicates a bearish move, so it's better to stay cautious. There's no doubt that in the long run, BTC is very bullish, and eventually, we're going to see record-breaking rallies. However, in the short term, a pullback can be expected. Trade safely. Regards, Team Dexter.
by Dexter_The_Trader
2
Current BTC Analysis: July 2024As of July 2024, BTC has been showing signs of recovery after a period of decline. The price recently experienced a strong upward movement, breaking through a downward trend line without encountering significant resistance. This indicates potential bottoming out and a possible start of a new upward trend​​. Wyckoff's Accumulation Phases: Wyckoff's accumulation consists of several phases: Phase A: Stopping the Downtrend This phase is marked by preliminary support (PS) and a selling climax (SC), followed by an automatic rally (AR) and secondary test (ST). Phase B: Building a Cause This is the phase where the market moves sideways, creating a cause for the next move. It includes upthrusts (UT) and springs to shake out weak hands. Phase C: Testing Supply This phase typically features a final shakeout or spring, testing the remaining supply before the price moves higher. Phase D: Markup Begins The phase where the price begins to trend upward with higher highs and higher lows, breaking out of the trading range. Phase E: Trend Establishment The price moves consistently higher, confirming the beginning of a new uptrend. Current Phase of BTC. Based on the recent price actions: Preliminary Support and Selling Climax: These might have occurred in the recent past when BTC experienced significant sell-offs and subsequent recoveries. Automatic Rally and Secondary Test: BTC has shown a strong upward movement, which could be an automatic rally. The lack of significant resistance suggests that it might be transitioning out of Phase B. Testing Supply: The price behavior indicates a possible phase where the final tests are occurring. The strong upward momentum could be a sign that BTC is moving into Phase D, where the markup phase begins. Given these observations, BTC appears to be in late Phase B or early Phase C of Wyckoff's accumulation. This suggests that BTC is likely building a cause for the next major move and is preparing for a potential breakout into an upward trend.
BITSTAMP:BTCUSDLong
by The3eyedFrog
1
#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