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BTC (another bullish impulse?)BTC / USDT BTC just made a X3 from its bottom at 15k But it seems it is ready for another bullish impulse and here is why : We have unsloping channel target at 52k Also we have new ascening channel above it which targets 51k Also there is huge old weekly resistance between 48-52k So can easily touch this resistance easily We can also see that both bears and bulls got liquidated recently buy 2wicks this also means that BTC is ready for another big move The ETF decision: Weather it rejected or approved it will be bullish for BTC in long term But the impact on price will affect the short term price From my point of view : 1-if ETF approved: major breakout which can touch 52k or even go wild to ATH 2- if ETF rejected: we can see a harsh rejection in short term (it can drop like 20% in one candle )
Long
by Babenski
19
Bitcoin (BTC/USD) Longterm. Key Levels between 30k -70k Date: January 11, 2024 Overview: Bitcoin has continued its ascent in the cryptocurrency market, showcasing a bullish trajectory on the weekly timeframe as observed on Bitstamp. This report delves into the key technical indicators to provide a comprehensive analysis of BTC's current market state. Price Channel Analysis: Bitcoin's price action has been contained within an ascending channel, indicating a strong bullish trend. The recent candles are testing the upper bounds of this channel, suggesting a possible resistance encounter. A weekly close above the channel may signal a further bullish continuation, whereas a rejection could lead to a retest of the lower boundary. Z-Score Probability Indicator Analysis: The Z-Score Indicator is showing a return to bullish sentiment with values currently in the green zone, which traditionally suggests a bullish market condition. The price level corresponding to the latest green peak is $48,829.25. The presence in the green zone is indicative of a potential continuation of the bullish trend. Angular Momentum Analysis: The Angular Momentum indicator has fluctuated around the zero line, indicating a market with a fair balance between bullish and bearish momentum. It currently remains above the zero line, which could be taken as a mild bullish signal. Key Levels to Watch: Resistance: The market is currently testing a key resistance level, with the potential target at $58,679 if the upward momentum continues. Support: Should a bearish reversal occur, the key support levels to watch are at $33,424 followed by $30,829. Long-term Projection: The chart displays a potential long-term price projection of $148,307, which would represent a 314.12% increase from the current levels. Potential Strategy: Traders might consider watching for a confirmed breakout above the current resistance for potential long entries, with the aforementioned upper channel line serving as a trailing stop. Conversely, a rejection at this level could offer short-term bearish opportunities with targets set at the nearest support levels. Risk Consideration: Given that Bitcoin is testing critical resistance levels, traders should be prepared for volatility and potential sharp price movements. It's advisable to use stop-loss orders to manage risk, especially in the event of a false breakout or a sudden trend reversal. Conclusion: Bitcoin's bullish structure remains intact, with the current test of the upper channel boundary being pivotal for future price direction. The indicators suggest that while bullish momentum is present, traders should remain cautious and look for confirmation before placing trades. As the cryptocurrency market is known for its volatility, maintaining a robust risk management strategy is essential. This analysis is provided for informational purposes only and does not constitute financial advice. Traders should conduct their own research and tailor their strategies to their individual risk tolerance.
BITSTAMP:BTCUSD
by meloneusk
Friendly Reminder You Don't Own Enough Bitcoin. The Dawn of the Final ETF Approval Week - Everything will change. Bitcoin will obliterate Apple returns Bitcoin will obliterate SPY returns Bitcoin will obliterate Gold returns Bitcoin will obliterate Silver Returns Anything plugged into Bitcoin related or touching bitcoin will be rocket launched into an entire new global standard. I have come to the conclusion that smart money will enter this first being convinced of a new turning of the way we will live life in the next century meaning they will move first. At the $200,000 mark many will sell calling the top (you will know they're wrong due to zero on chain data proving this top) I suspect after $300,000 appears in a short period the first batch of doubters will start to enter the market. After $600,000 is breached there will be motions moving and outrage to shut Bitcoin down calling it the next "2009" the next Mortgage backed securities" (This will cause major short interest and major Puts following the consensus that this is a bubble and not a supply shock) Reaching the $1,500,000 people short and call writers will be entering margin call territory. Remember the hard critics of Bitcoin who will give in around the $1,500,000 - $2,500,000 mark over the next years, this will mark the start of the extended bear market. So the question is do you own enough Bitcoin?
INDEX:BTCUSDLong
by FederalXBT
1
BTC SHORT/CRAB, LET GO.BTC looks to be in a short term distribution phase, with a likely top already in ~47k on CME. Expect moderate volatility this quarter, where I expect constant violent 10% swings in either direction between 46k and 41k until the ETF approval. Afterward, expect a drop to ~38.5k by the end of January. Note, January EOM has the highest likelihood of dropping the furthest beyond the "Q1 High probability range noted on the chart" towards 34.5k. Breaking out the Q1 Range will likely result in continued momentum to follow until the next line of support/resistance, noted at 50k or 34.5k. The last line of defense will be ~31.6k in the event of a full liquidation cascade as it supports the previous sideways structure we had between 32k and 25k since March last year and acts as the 0.5 fib from the ATH to this cycle low. If we drop further under 30k, than you must accept the increased probability of 46k being a bull trap and being the largest rug pull to occur and we head toward revisiting 20k, 15, and even 10k. RWI (Random Walk Index) and LS (Liquidation Screener) are the indicators used. RWI is printing bearish divergences along with starting to crossover toward bearish trend. LS probably has shown the top as it has hit the red bearish territory and recently dropped out of it and heading over the median line currently at 33.7k (but is rising and i could see it bottom out toward the lower side of Q1 probability range by EOM JAN or even EOQ) Overall, I believe the ETF may be a sell-the-news event that will in the grand scheme of things crab between 46k and 41k, until the end of Q1, but with a short visit to 38.5k. Breaking out the expected range of 46k-38.5k, begets continued momo in the same direction. Take note this is likely due to lowered overall volatility of BTC maturing as a whole. But alts may push forward after the expected flush. Let go. Relax. Q1 Ranges: High probability 46k-38k Moderate probability 52k-30k Max probability 54k-18k Trades: Short @ 44k TP 41k, 39k, (may carry it down to 30k depending on PA under 39k) SL 47k Short @ 50k ( if expected range breaks out) TP 40k, 35k, 32k SL 54k Long @ 39k TP 44k, 50k SL 37.5k Long @ 35k & 32k TP 40k, 50k SL 29k
CME:BTC1!Short
by linebands
Raising BTC prediction to $2,500,000 by Jul 2025 + Analytics.1. It's confirmed by the SEC that they will launch majority of Spot ETFs in 2024. 2. The total (ex BTC) of this market is 782B today? . 3. There's been pent up demand for institutions to buy Bitcoin since 2017-2024 that's 7 years of a period where the large money has been just eye balling Bitcoin. 4. People still compare Gold's market cap to Bitcoin when Gold only accounts for active supply. Bitcoin's market cap is incorrect as it counts for all the supply (even non active). This means the market is still using a false Bitcoin market cap formulation based on the supply is not there. 5. Gold miners could expand and mine more Gold to offset the rising Gold rush price containing it even though it went parabolic. Bitcoin miners cannot miner "more bitcoin" the halvening actually goes in the opposite direction. 6. My original projection was around 250,000-622,000 based on a Gold Spot ETF Rally. 7. Every Spot ETF provider has not bought Bitcoin yet besides the small amount for seeding. Meaning they're all waiting to launch to buy their own ETF to increase the AUM to market it. Adjust to the real Bitcoin on the market to the market cap gained per dollar invested you can clearly see there is a major major miss calculation on the Bitcoin price. I am expecting the biggest Spot ETF inflow / bull run in history next year followed by a 5-10 year cool off winter period starting in 2025-2035. Institutions are going to launch ETF's with derivatives and run long synthetic futures writing every put option they can sell. Buying every call they can of each others market. They can guarantee this bet as they can control the Bitcoin price with little capital. Now on the derivative market, 120.54K BTC $5.26B CME Two final possibilities 1. There is no demand for Bitcoin and it crawls sideways for years to come 2. There is demand (implying the move will be faster than you can imagine) leaving majority of retail in a winter (like what happen with the Spot Gold ETF). If this still has not clicked yet, think of The Big Short now invert it to The Big Long. The moment money hits this market and it moves a direction you will know. ------------------------------------------------------------------- ----- circulating supply of Bitcoin at 4,036,433 BTC ------ Bitcoin Price Target (USD) Fixed Multiplier Required USD Spent (Billion USD) Projected Market Cap (Trillion USD) ------ $250,000 50 $20.18B $1.01T ------------- $500,000 50 $40.36B $2.02T -------------------- $2,500,000 50 $201.82B $10.09T ----------------------------- $5,000,000 50 $403.64B $20.18T ------------------------------------------------------------------ ----- circulating supply of Bitcoin at 8,000,000 BTC ---- Bitcoin Price Target (USD) Fixed Multiplier Required USD Spent (Billion USD) Projected Market Cap (Trillion USD) ------------ $250,000 50 SGX:40B $2T ------------------- $500,000 50 $80B $4T --------------------------- $2,500,000 50 $400B $20T ---------------------------------- $5,000,000 50 $800B SGX:40T -------------------------------------------------- circulating supply of Bitcoin at 21,000,000 BTC Bitcoin Price Target (USD) Fixed Multiplier Required USD Spent (Billion USD) Projected Market Cap (Trillion USD) -------- $250,000 50 $105B $5.25T ------------------ $500,000 50 $210B $10.50T ------------------------- $2,500,000 50 $1050B $52.50T ------------------------------- $5,000,000 50 $2100B $105.00T -------------------------------------------------- "SEC told spot #Bitcoin ETF applicants to "submit final changes by the end of next week", sources tell Reuters."
BITSTAMP:BTCUSDLong
by FederalXBT
3
#BTC/USDT Weekly: This pattern signals Trend Reversal!#BTC Weekly Update: Breaking the Green Streak! Bitcoin (BTC) sees a change in trend as it closes the week with a red candle, ending an eight-week run of green candles. This shift is marked by the formation of a Bearish HARAMI pattern, signaling a potential bearish reversal. The confirmation of this pattern hinges on the weekly close; BTC needs to end the week below $41,349. Until this confirmation, Bitcoin may move sideways, providing an opportunity for altcoins to thrive. Investors should carefully select altcoins during this period of potential BTC consolidation for optimal gains. Stay vigilant! Do hit the like button if you find this chart helpful. Thank you #PEACE
COINBASE:BTCUSDLong
by Cryptorphic
#BITCOIN Update for Dummies!Keeping it simple: as long as we maintain levels above $40,222, Bitcoin is likely to reach higher targets. Consider every dip a blessing and a buying opportunity in altcoins. However, a close below $40,222 could trigger a bearish rally, marking a new lower low since the start of this 8-week run. Action Plan: I am spot long and don't plan to make any changes unless something significant appears in my charts. For futures, I am taking profits as they show up, implementing strict stop-losses in my current positions. Feel free to share your thoughts in the comment section, and if you find this information helpful, please hit the like button. Thank you.
Long
by Cryptorphic
7