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Btcusdanalysis

Phemex Analysis #2: BTC - Time to Buy Low or Stay Away?Bitcoin dropped past the $61,500 support level last week and attempted to reach the $56,500 support zone for the first time, but failed. The price then rose back to $63,884 . Over the past few days, Bitcoin has started dropping again and today it fell even lower to $57,850 (lower than the previous low of $58,276 ). A resistance zone is beginning to form at $63,000, indicating potential for more sell pressure ahead, which could further push down the price. The next support zones are at $56,500 and then $51,000 . Should we buy low at these support zones, or wait for the price to consolidate first before entering the market? Let us know your trading plan. Note: Phemex All-New Feature Multiple Watchlists will Go Live today, at our website. Be sure to check it out! Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
1
BTCUSDT: $70k or a Crash?Crucial Support Zone: The chart highlights a significant support area ranging between $57.8K to $60k. This level has historically provided strong support, as indicated by multiple bounces within this zone. Potential Upside: A potential upside target is marked at $72k, representing a 23.26% gain from the current levels. This target aligns with the upper boundary of the channel. Technical Indicators: The price is currently testing the support zone, suggesting a possible rebound if the support holds. If BTC fails to maintain this support, a further decline could ensue, targeting lower levels. Not Financial Advice, If you find this content informative then support us through your likes, reposts, comments, and by following us. Regards, Team Dexter. #BTC
by Dexter_The_Trader
5
Bitcoin - Eventually hitting $250.000?BITSTAMP:BTCUSD is looking extremely bullish despite the recent 4 month consolidation. For more than four months, Bitcoin has basically been moving sideways, experiencing quite volatile swings towards the upside and downside. However we should not neglect the overall bullish behaviour of Bitcoin which is still creating cycle and correction after cycle and correction. Therefore, maybe after a short term pullback, I do expect (much) higher prices on Bitcoin. Levels to watch: $67.000, $37.000 Keep your long term vision, Philip - BasicTrading
BITSTAMP:BTCUSDLong
by basictradingtv
14
Crypto Market Update - July 3, 2024Bitcoin Daily Chart Yesterday's Daily Candle closed as a weak Bearish Candle, confirming the Evening Star Pattern I identified yesterday. Today's follow through from the sellers has been quite strong, evidenced by today's open large bearish candle. As we can see from the chart, the consolidation range from last week into last weekend created a High-Volume Node, that Bitcoin attempted, unsuccessfully, to break out from. Today's price action has caused us to wick down into the Low-Volume Node zone directly below this consolidation level, where a large cluster of Long Liquidations and Large Limit Bids were centered. You can see that price did not dip down into the next High-Volume Node, showing that, as it stands, buyers are not willing to give up the current High-Volume Node range. We are still holding 200 DEMA support, as well as holding our Higher Low within this range. The 21 DEMA acted as our current level of resistance, so that is the dynamic level we need to break to begin a new price discovery phase. Overall, none of this is very exciting or concerning to me, as I favor the long-term view. My base case is that this is a buying opportunity for the short to medium-term. We should likely bounce from this range, and either break through the 21 EMA to the upside or reject again, either would be fine. The longer we consolidate, the greater the resulting breakout from this range will be. We could see, following a recovery bounce, price find acceptance in the tight High-Volume Node at $59,000, and even wick down to re-test 200 EMA support. As long as we're closing Daily Candles above the 200 DEMA, buyers should feel pretty comfy and just hold conviction in their positions. Bitcoin Technical Chart What we can glean from the Technical Chart today is that the selling volume has not been very impressive. Although today's candle was quite large, there was not actually a lot of selling volume relative to buying pressure. Which means the reason price was able to move so far, is due to the thickness (or depth) of the Order Book. Buyers simply pushed their limit bids down lower, to capture lower price. As the selling bounced back from the Low-Volume Node highlighted earlier, this lets me know that buyers were simply smart today, capturing a deal on Bitcoin's price. We have not yet reclaimed a Daily Bullish Trend, as evidenced by the Gann Swing Indicator. As I've continually stated, we must close above $64,000 first. More conservative traders can simply sit in cash, on the sidelines, and wait for that momentum signal. Bitcoin Liquidation Heatmap Chart Here As I predicted in yesterday's report, Bitcoin Longs became the target of liquidations today. As we can see, over four violent drives down over the last 24 hours a large amount of Long Liquidations were cleared off the books. There is now a final strong cluster of Liquidations at $59,526 - however it seems that shorts will be the target for liquidations for the rest of the evening and into tomorrow. I would expect price to continue it's recovery bounce from this level and push up close to $62,000. If we successfully close above that level, early momentum longs could be taken, however a rejection would be a good short-term opportunity to see price re-visit $60,000. Bitcoin Footprint Chart Chart Here Several things are interesting about today's Footprint Chart. First, for the first time in awhile, we filled significant Large Limit Bids on this last drive to the downside, when the current low of $59,500 was established. This is significant, as often after these Large Limit Orders are filled, price then reverses in the other direction. This same dynamic has occurred over and over in Bitcoin's price action, go backtest it. Secondly, we can see the declining Open Interest as price approached the lows, not only from Longs being liquidated but also shorts taking money off the table. The selling volume has been particularly weak, as we can see very clearly here, which as I said before, means the orderbook is responsible for the volatility of price's movement today. Aggressive Ask Imbalances sit at $61,190 - $61,400 - and $61,700. Those would be my short-term targets for any reversal longs taken from this range. As I said, I would like to see a clear rejection and failure to reclaim $62,000 before I re-enter shorts. I did short the majority of this movement down, but I am now closed out of those positions.
BITFINEX:BTCUSD
by CrackingCryptocurrency
A logarithmic look at the #Bitcoin monthly chart according to thAll the points drawn in the chart, all these numbers are based on the numbers of previous halvings and time analysis This is a long-term analysis in the last months of 2026, i.e. November and December Any upswing requires a price correction to continue the trend, which is well seen in Bitcoin, and my correction opinion is after hitting the new historical ceiling of the blue line. This correction, which is after hitting the ceiling, will happen after the months of November 2025 If the numbers are done with a little up and down, I hope you will be satisfied with the analysis I hope you can use this analysis in the long term and send it to your friends
INDEX:BTCUSDLong
by DarkAnalyzer
Last BTC drop before continue growth?Hey traders! Here is a fresh update about market situation. Seems like we started to move in 3rd correctional wave of Elliot Waves and according to Fib Retracement we could possibly go to the level around 56.000$. This level is also huge support level for the bullish flag, in which we're moving already for 3 months. Plus, the RSI is also going lower and looks like it could touch the edge, if we're going to 56k level. If you're planning to trade, I will try to catch up the long position after the 3rd wave movement will come to the end. What's your thoughts?
BINANCE:BTCUSDShort
by SheTradesHub
Bitcoin - upside potential in the next 24 hours The cryptocurrency trend was negative over the past 24 hours, as seized Bitcoins continue to be offloaded to crypto exchanges. Yesterday, the German government offloaded an additional 832.7 seized Bitcoins to centralized crypto exchanges such as Kraken and Bitstamp, Lookonchain reports. On Monday, it transferred 1,500 Bitcoins. The German government still holds a total of 43,859 Bitcoins worth $2.7 billion at today’s price. The price of Bitcoin dropped 2.8 percent to $61,146 over the past 24 hours, Trading View’s Bitcoin chart shows. It now trades 17 percent below its all-time high of $73,628. Standard Chartered foresees its price hitting an all-time high next month and trading around $100,000 by November when the US presidential elections are held, $150,000 by year-end and $200,000 by the end of 2025, the Block reports. ATTMO forecasts mostly sunny trading conditions for Bitcoin, translating into a slightly bullish market, for the next 24 hours. Check attmo.ai to get insights into the 3-day and 7-day forecast for Bitcoin and the rest of the market.
BITSTAMP:BTCUSDLong
by ATTMO
Bitcoin Struggles with ResistanceBitcoin failed to continue rising above the resistance area of $63,650. The price is now correcting its gains and might revisit the support at $60,850. Bitcoin faced difficulty extending gains above the resistance levels of $63,650 and $63,800. A peak was formed at $63,798, and the price started a downward correction. The price dropped below the $63,000 level. The bears managed to push it below the $62,500 level and the 100-hour simple moving average. There was also a move below the 50% Fibonacci retracement level of the upward move from the $59,951 low to the $63,798 high. Bitcoin is now trading below $62,500 and the 100-hour simple moving average. A bearish trend line is forming with resistance at $61,850. The bulls are now trying to protect the $61,400 zone and the 61.8% Fibonacci retracement level of the upward move from the $59,951 low to the $63,798 high. If there is another increase, the price might face resistance near the $61,850 level and the trend line. The first major resistance is near the $62,250 level. The next major resistance could be at $62,500. A clear move above the $62,500 resistance might start a steady increase and push the price higher. In this case, the price could rise and test the $63,250 resistance. Any further gains might drive BTC towards the $63,650 resistance in the near term. If Bitcoin fails to climb above the $62,250 resistance area, it could continue to decline. Immediate support on the downside is near the $61,400 level. The first major support is at $60,850. The next support is forming near $60,500. Any further losses might push the price towards the $60,000 support area in the near term. If you are a long-term investor, it might be better to hold onto Bitcoin if you believe in its long-term potential. Short-term fluctuations can be part of the journey towards larger gains in the future. If you are a short-term investor, you might consider partial or full selling if Bitcoin breaks below major support levels (such as $60,850) and a continued decline is confirmed. You can invest or increase your holdings if Bitcoin surpasses strong resistance levels (such as $62,500) and continues to rise with positive signals. For day traders, you can take advantage of the quick market movements by entering and exiting positions based on short-term technical trading signals. Always avoid investing money you cannot afford to lose and seek specialized financial advice if you are unsure about your decisions.
COINBASE:BTCUSD
by bbitar
Bitcoin Failing To PumpHey guys, It looks like Bitcoin had its little pump from $60K to GETTEX:64K but now it appears that it can't hold up the price. It keep making lower highs in the short term and the signals look pretty bearish right now. The MACD has a green dot on the daily but all other smaller time frames are rather bearish. Things can get volatile so we might see some pumps and dumps while the price consolidates. This could go on for another month or two yet before we see the price making a clear direction in the upward trajectory in October. I'm looking at Bitcoin falling to $58,500 before we do a bit of sideways action with a positive twist. If you agree with my thoughts please boost and subscribe! When you need to decide. Let your heart be the guide.
BITSTAMP:BTCUSD
by EliteSignals
Bitcoin Weathers the Storm: Resilience Shines Despite DollarBitcoin (BTC), the world's leading cryptocurrency, has surprised many by demonstrating resilience in the face of a strengthening US dollar. Despite a historically observed inverse relationship between the US Dollar Index (DXY) and Bitcoin, this comes. The DXY, which measures the value of the US dollar against a basket of foreign currencies, currently sits at a lofty 106, indicating a robust greenback. This level is significant, having only been surpassed for 34 trading days in the past year. Traditionally, a strong dollar weakens the appeal of dollar-denominated assets like Bitcoin, as investors seek havens in other currencies. However, Bitcoin's current price action defies this historical trend. While not at its all-time high, Bitcoin is currently trading only around $10,000 below that peak, a testament to its continued strength in the market. Several factors may be contributing to this unexpected decoupling. Shifting Investor Sentiment: The cryptocurrency market has matured significantly since its early days, and investor sentiment is evolving alongside it. While Bitcoin was initially seen as a speculative asset class, it's increasingly viewed as a potential hedge against inflation and traditional financial uncertainties. This shift in perception could be mitigating the negative impact of a strong dollar on Bitcoin's price. Institutional Adoption: The influx of institutional investors, such as hedge funds and investment firms, into the cryptocurrency space is another potential factor. These institutions often have a longer-term investment horizon and may be less swayed by short-term fluctuations in the dollar's value. Their presence could be lending stability to the Bitcoin market. Bitcoin Mining Difficulty Adjustment: The Bitcoin network is designed to adjust mining difficulty roughly every two weeks automatically. This ensures a consistent rate of new Bitcoin entering circulation, regardless of the computing power dedicated to mining. An upcoming significant decrease in mining difficulty is anticipated, which could further bolster investor confidence. Positive Developments Within the Crypto Ecosystem: The broader cryptocurrency ecosystem is witnessing continuous innovation and development. The emergence of Decentralized Finance (DeFi) protocols, Non-Fungible Tokens (NFTs), and Layer-2 scaling solutions is attracting new users and capital into the space. This overall growth in the crypto ecosystem could be spilling over and positively impacting Bitcoin's price. Uncertainties Remain: Despite the positive signs, it's important to acknowledge the inherent volatility of the cryptocurrency market. The future trajectory of the DXY and broader economic conditions will undoubtedly continue to influence Bitcoin's price. Additionally, regulatory developments and potential security breaches could pose challenges in the future. Looking Forward: Bitcoin's resilience in the face of a strong dollar is noteworthy. While the reasons behind this decoupling are multifaceted, it suggests a maturing market with a growing pool of long-term investors. As the cryptocurrency ecosystem continues to evolve and gain mainstream adoption, Bitcoin's position as a store of value and a potential hedge against traditional financial instruments could solidify further. However, close attention should be paid to both internal and external factors that may impact Bitcoin's price in the coming months and years.
TVC:DXY
by bryandowningqln
BTC is heading to 64.5-65.5K zone(07/02/2024)After a big drop from 70k to 58.5k, the BTC price is correcting and now we can see some upward moves. We believe these short-term moves are corrections and the shadow of a bearish market still remains. By the way, the price is heading to the 65k resistance zone(previously the support zone). Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by fortunamarkets
We have a CME Gap to Fill - Below current PAI have not Looked at the CME GAPS Chart for a while and here it is WE HAVE A NEW GAP TP FILL..2 in fact but the lower one is so small it may not be worth the workl to fill it. 90% of Gaps get filled and given the dominance that CME Futures has now in the Bitcoin Market, I see no reason why this one will not also be filled. So, PA is very likely to descend to lower line to Fill the Gap Depending on Bull pressure, PA may turn before Top Line at 62085 Bottom line at 60190 I have placed a SPOT BUY at 60200 Lets see if it fills. NOY ADVICE JUST MY OPINION
CME:BTC1!
by Orriginal
Bitcoin 3 month chart with more similarities to 2013 runSince Last year, I have been commenting on how BTC PA seems to be running along the path of 2013 to 2017 ATH And here is another set of similarities. The Arrows on the left are the Run from 2013 to 2017 and what I want to draw your attention to is the sequence of Red Green Red Green candles. After the 2013 ATH, PA went into a series candle colours, 1st Quarter was RED 2nd Quarter was GREEN We then had a series oif 3 Quakers of RED Then we ran into a series of Alternate Colours, GREEN RED GREEN RED GREEN RED Then we began the Bull Run and went to the New ATH And we are in the middle of a very similar series with one exception. From the 2021 ATH 1st Quaker was RED as in 2013 Then we began to go in a series of 2's - 2nd and 3rd Quarter were GREEN We then had a series oif 4 Quakers of RED ( 2013 / 2014 was 3 ) Then we began the current Series of 2 GREEN, 1 RED, 2 GREEN, 1 RED We have just begun the next new 3 month candle and so we have to wait to see if it will be GREEN as it should be if we are running to a pattern. Things to note here are also that after the sequence of RED candles after the ATH, it was a set of 6 candles before we went into the Bull Run to ATH in 2013 and it looks like the same may happen again this time. For me, the similarities are notable and points towards an interesting trading physiology. So, now, we have to wait till the end of September to see if this next candle is GREEN or not.
CRYPTO:BTCUSD
by Orriginal