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#BTC/USDT Urgent Update!#BTC closed around $62,800, defying CT's expectations for a drop to $52,000. Now, we'll see if it can close above the blue moving average and confirm this whole move as a deviation, a pattern Bitcoin often follows. Otherwise, the doors to GETTEX:52K remain open, with this current move possibly being just a retest. So we wait, patience is key! Keep an eye on the weekly close! Have a wonderful weekend! #Crypto #Bitcoin Do share your views in the comments section and hit the like button if you like it. It keeps us motivated! Thank you #PEACE
by Cryptorphic
2
Bitcoin BTC price global view for next few monthsOn the #Bitcoin chart, you can see a combination of horizontal and dynamic fibo levels. It took us a long time to see something new.... But here's our summary: ️ ↪️ right now, the #BTCUSDT price is at a critical point. If buyers manage to keep the price above $57000-57300 until Monday, there will be a chance for a good price increase via the blue route 🟦 ↩️ fixing the CRYPTOCAP:BTC price below $57000 is the way for a sharp drop in the price to the $49-50k range. There are still many longers whose positions can be liquidated, and their assets can be taken into "stronger hands" Which scenario do you prefer: ❤️red or 💙blue? Because in our opinion, the #BTCUSD price should go into a protracted sideways consolidation for the summer of 2024. In this consolidation, the large capital that entered the cryptocurrency market through BTC ETFs may start flowing into less liquid altcoins, which could lead to local and selective bull runs. So, in our opinion, the most important task for the coming months is to track which altcoins or sectors of the crypto market capital is flowing into and buy on corrections. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
4
Caution: Bear trap on Bitcoin! ⚠️ Bitcoin's potential bear trap above $60,000 amid uncertainty over FED actions. Bitcoin's price bouncing back above $60,000 raises concerns of a bear trap. Market fundamentals, specifically FED actions, adding to the uncertainty in the crypto market. Speculating on FED decisions is risky, but their transparency can impact market sentiment. ⚠️ Implications of recent financial easing and potential bear trap for Bitcoin investors. Quantitative easing signals potential turnaround in financial conditions. Coinbase closure above 233 HPDR bands may confirm bear trap for Bitcoin. Massive Wick to the downside suggests damage from past week may be mitigated. 📉 Bitcoin may experience a significant correction in mid-May, potentially setting a bear trap. Bitcoin has been in a cycle for 49 days, nearing the longest correction period of 63 days. The timing for a potential low or bear trap for Bitcoin could be in mid-May, around day 63 of the cycle. A tweet was mentioned regarding this analysis, providing additional information on the topic. 🕰️ Cryptocurrency signals showing high probability targets, despite challenges and personal struggles. High probability targets for Bitcoin signals Struggling with personal challenges and sickness Finding solace in playing Dark Souls 3 ⚠️ Bitcoin's potential trap for investors in May highlighted by technical analysis indicators. Key technical indicators like RSI and moving averages are currently indicating a downside trend in Bitcoin's price. Bitcoin's price movement sideways could lead to a reset of technical indicators, potentially signaling a bullish reversal. If Bitcoin avoids breaking below current lows, a bullish scenario could unfold in the later half of May and June.
Short
by Henrywaters
BTC future? Store of value? Read and think about itMichael Saylor often says, " CRYPTOCAP:BTC is a store of value that you will pass to your kids." I will demystify CRYPTOCAP:BTC and share my long-term vision of what Bitcoin will become in the future. This is a philosophical perspective, so take it as such. Bitcoin is a digital asset, which means there is no cost to duplicating it. Like all digital assets, they eventually get cracked and revert to their real value, which is zero. Any physical object, on the other hand, has value derived from the cost of its production, including the labor involved. It is tangible and cannot be magically duplicated, making any physical object more valuable over time as most get lost, destroyed, or become rarer and more valuable. This is common to any item like books, music keyboards, game consoles, etc. Bitcoin compensates by having an encryption algorithm stronger than any music DRM protection, and its production cost is tied to the difficulty of mining. However, there are several problems with this concept: 1) All DRM and encryption get cracked eventually because technology evolves, and what seems impossible today may become feasible and straightforward tomorrow. 2) The cost of mining Bitcoin increases as its value does. But if the value does not increase sufficiently, it can become unprofitable to mine, and in that case, the entire network could disappear, become unsafe, or lose value. 3) Since it is a digital product, like MP3s, Bitcoin can be duplicated at no cost and has been many times. $ZCASH, NASDAQ:DASH , CRYPTOCAP:LTC , etc., are just copies of the Bitcoin source code with another name and a few modifications. Considering all this, the future of Bitcoin seems limited. Technology will eventually enable hacking of its blockchain, miners will one day become unprofitable and switch to another blockchain, etc. Is Bitcoin a store of value? Yes, it is now, but no, it will not be in the long term. The day Bitcoin is cracked, or when miners stop mining it en masse, that will be the end. All the value of Bitcoin will disappear. Bitcoin is the experimental first version of a cryptocurrency that works, but only that. Does this mean all crypto has no value? Of course not. A lot of innovation has been discovered; take ZK Layer technology, for instance. It manages the blockchain in a better way—cheaper, faster, and more anonymously than Bitcoin. The rise of Bitcoin will show what crypto is capable of, but something else will replace it and become the crypto used by people to buy things. Bitcoin will not replace gold; it is not digital gold. That is a marketing trap. Bitcoin is an experimental tool, the first fully working crypto payment system, but its future is to become obsolete and be replaced by more efficient solutions.
INDEX:BTCUSD
by CryptoNikkoid
#BTC/USDT Next support $52k!#Bitcoin is trading at a decisive point. If this support level breaks, we could drop all the way down to $52k. The trend has shifted bearish, but don't forget that Bitcoin is known for making deviations. Historically, May tends to be a negative month for BTC in terms of returns, and we're already seeing the effects within the first two days. Let's see how this week unfolds. Keep a close watch on the trendline support. DYOR, NFA Do hit the like button if you like these updates. Thank you #PEACE
BINANCE:BTCUSD
by Cryptorphic
Just how bad is it for Bitcoin and the crypto market? - Bitcoin has experienced a significant drop below $60,000 for the first time in a while. - April has historically been a green month for Bitcoin in an election year, but this year it was red, showing a deviation from history. - May is also historically a green month for Bitcoin in election years. - Bitcoin has never played out more than two consecutive downside months in an overall bull market. - The accumulation distribution indicator shows a positive slope, indicating a long-term move to the upside. - The indicator's slope changes in the extreme zones can correlate with macro shifts in direction. - Bitcoin is currently testing prior all-time highs and there should be an opportunity for it to move up again. - The ideal scenario for bullish investors would be for Bitcoin to come down to the red moving average, find a low, and close the month up with a bullish signal. Bitcoin has experienced its first ever red April in an election year, deviating from historical trends. April saw a 15% move to the downside, which is significant. May historically has always printed a green month for Bitcoin in election years, but this may not be the case this year. Additionally, Bitcoin has never played out more than two consecutive downside months in a bull market. The accumulation distribution indicator shows that Bitcoin is likely to move to the upside long term. However, it is uncertain how far down Bitcoin can go before it bounces back up. The red moving average is where Bitcoin bulls should be hoping for a low to be put in before closing the month up, which would signal the market to continue to new all-time highs throughout the rest of the year. Bullet Summary: - Bitcoin experienced its first ever red April in an election year, deviating from historical trends - May has always historically printed a green month for Bitcoin in election years, but this may not be the case this year - Bitcoin has never played out more than two consecutive downside months in a bull market - The accumulation distribution indicator shows long term upside for Bitcoin, but it is uncertain how far down it can go before bouncing back up - Bulls should be hoping for a low near the red moving average before closing the month up to signal continued growth throughout the year.
by Henrywaters
BTCUSD after halvingHi, welcome to my analysis, Sorry it's been a while since I wrote an analysis due to the Eid al-Fitr holiday. this time BTC dropped and formed a down channel, but we have a Fibonacci support area between 63546 to 62608 and if this Fibonacci support is broken, then the following support will be at level 60211. The bullish target for BTC this time is in the range 70217 to 71625 or Fibonacci level 1,618 to channel resistance. I will update this analysis if I find new keylevels. Happy trading
BINANCE:BTCUSDLong
by AzrulAzir
IS BTC READY FOR NEW INCREASE TO 68KBitcoin seems the last day in a broken downtrend with here and there what stability. There are some important levels if BTC can hold them, we could see a new uptrend weekend, which weekends are known most of the time on their stability volume. The trend of now. BTC trying to find the right way to get out to new building volume, out of the playing trend. Can this weekend have a new change since we are by the key level that's exactly what we will follow if BTC can break the key level l of 65K with a high chance of 68K There is always a chance there will be manipulation volumes, it depends on building volume and that's hard to count. small changes can always be targeted, its BTC. For day traders, there change noting, since day traders trade depending on what the market shows, this can be short or long at any time. This is not trading advice, markets going on their way.
Long
by SatochiTrader
1
[SHORT] Bitcoin going down before it goes up As you can see on the USDT dominance chart using the pmarp indicator on the weekly time frame USDT dominance is on its way up. This is a great sign of capitulation within Bitcoin. There are is now many millions of dollars worth of outflows for Bitcoin ETFs. The IBIT ETF has not received any new inflows for two business days and other ETFs for Bitcoin have received outflows of millions. It's about time for this correction to play out.
CRYPTOCAP:USDT.DShort
by Henrywaters
DIPS ARE FOR BUYING ! Don't get SCAREDBitcoin (BTC) has been trading within a horizontal accumulation pattern on the 4-hour timeframe. This pattern is characterized by a period of price consolidation within a defined range, with multiple attempts to break out to the upside or downside but ultimately failing and returning within the range. This price action often indicates that there is significant liquidity built up on both sides of the range, waiting for a catalyst to break the pattern. Significant Liquidity Above and Below the Range: BTC has formed significant liquidity levels above and below the horizontal accumulation range. These liquidity levels represent areas where a large number of buy or sell orders are clustered. The supply of these orders at specific price points can act as support or resistance, influencing price movements. Large Imbalance Below the Range: On the 4-hour timeframe, BTC also exhibits a significant imbalance between $51,000 and $59,000. This imbalance suggests that there is a larger amount of sell orders than buy orders within this range. Imbalances can sometimes act as magnets, pulling the price towards them to fill the excess orders. Potential Breakout Scenario: Based on the horizontal accumulation pattern, liquidity levels, and imbalance, I anticipate a potential bullish breakout for BTC. Two possible scenarios could play out: 1. Retest of 0.5 Fibonacci Retracement: The price could retest the 0.5 Fibonacci retracement level of the imbalance, around $55,000. This retest could serve to shake out weak hands and further accumulate liquidity before a breakout. 2. Sweep of $59,000 Level and Breakout: In a more bullish scenario, the price could sweep through the $59,000 liquidity level, indicating strong buying pressure and potentially leading to a breakout towards $77,000, the next major resistance level. Overall Outlook: BTC's price action suggests a potential breakout from the horizontal accumulation pattern. The presence of significant liquidity levels and an imbalance below the range further supports this possibility. While a retest of the 0.5 Fibonacci retracement level is possible, an ideal scenario would be a sweep of the $59,000 level and a continuation of the uptrend towards $77,000.
Long
by Yaroslav_Krasko
2