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Bitcoin Price Hovers Above $40,000 Ahead of FOMCBitcoin (BTC) is showing weakness ahead of the Federal Open Market Committee (FOMC) meeting scheduled for December 13. Federal Reserve Chairman Jerome Powell is expected to provide an economic forecast summary after the release of the Consumer Price Index (CPI) data, indicating that inflation in the U.S. has decreased to 3.1%, aligning with market expectations. Bitcoin Price Prepares for Increased Volatility Before FOMC Investors have shown caution and reduced risk ahead of the FOMC meeting, evident in a 40% decrease in trading volume over the past 24 hours. After the announcement of the U.S. CPI data for November, the Bitcoin price briefly surged to $42,000 before retracing. Looking ahead, the prevailing view is that the Fed will maintain interest rates at the target range of 5.25-5.50%. In the latest meeting in November, the FOMC kept interest rates steady, as in the September meeting, signaling that rates may remain unchanged in the near future but are still open to change based on economic conditions. The decision to pause interest rate hikes is widely anticipated, providing the Fed with additional time to determine whether the current interest rates effectively curb inflation's impact on economic growth. The range of 5.25% to 5.50% was raised in the July meeting, marking the 11th interest rate hike in the 2022/2023 cycle, all aimed at managing inflation. This explains the observed unease in the Bitcoin price. Implications for Bitcoin Price The increase in interest rates makes investors more cautious, negatively impacting risk-based assets like cryptocurrencies. According to the CME FedWatch tool, there is a 97.1% chance that the Fed will keep the Federal Funds Rate target at 5.25% to 5.50% in the upcoming FOMC meeting, while 2.9% of opinion polls predict a change to 5.50-5.75%.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin Traders Cautioned as Whales Trigger Sharp Price DropContent: Bitcoin is experiencing its most significant drop in nearly a month, catching the market off guard on Monday, shattering the optimism, also known as "hopium," for continued price growth until the SEC approves the BTC spot ETF in January 2024. However, the sudden market downturn has left investors surprised, leading to this optimism being shattered, attributed to the "whale panic" caused by significant whale selling. Daily Market Momentum Report: Bitcoin Whales Trigger Market Plunge Bitcoin's price has nearly dropped below $40,000 in the last 24 hours, with contracts worth over $340 million liquidated in just a few minutes. Although the exact reason behind this collapse is uncertain, the primary cause seems to be whale selling. This is evidenced by the Coinbase Premium Gap (CPG) registering a sharp decrease to -250. Simply put, CPG is an indicator that tracks the difference between the Bitcoin price listed on Coinbase (USD pair) and Binance (USDT pair). It provides an idea of whether US-dominant investors (Coinbase) or global users (Binance) are buying or selling more than the other. Whenever this premium gap is positive, US investors are considered to be driving buying pressure, while negative values point to global users, creating selling pressure. However, the significant drop in this index on Monday indicates whale intervention. This was further confirmed by the decline in reserves on the Binance exchange, noting the sale of around 16,000 BTC worth over $671 million accumulated over the past week. This sell-off has caused panic among users, resulting in a 7% intraday trading drop, pushing BTC to a low of $40,654. Cryptocurrency has since recovered, trading at $41,839 at the time of writing. Since the beginning of December, traders have been limiting exposure to high leverage in the derivatives market. The collapse on Monday may heighten this skepticism, causing traders to be cautious until January.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin Climbs The Wall Of WorryFor the last few months, many have been debating if BTC is still in a bear or bull market, with most calling for new lows in the near future. As we look at the BTC weekly chart we see several clear levels of support and resistance that price has been respecting for some time now. I will be the first to admit, the price action has been slow and not very clear in either direction. However, I firmly believe the bull market has begun, in fact, I believe we've been in the midst of climbing the wall of worry for the last few months since the lows made at the end of 2022. There are a few things that should be noted. Never has Bitcoin had a rally of 100% during a bear market. Bitcoin bear market bounces are typically below 70%-80% and they rarely hold broken resistance levels as support for more than a few weeks. The double bottom followed by bullish divergence on the weekly time frame shows a clear shift in the crypto market's behavior since the start of 2023, and I believe we are seeing a clear indication of a market sentiment shift at the early stages of a bull market. Bull markets typically start with lots of uncertainty, followed by general complacency with the current price action. Often making large moves that go unnoticed by the general crowd, this is exactly what we see right now. As you look closely, we see a falling wedge pattern BTC broke out of at the beginning of 2023, and it even made a strong retest of support shown by the long wick at the end of March. Now we are resting on the 21/50-EMA's, using them as support for the last several weeks, we even might see a cross which is another bullish sign. In regards to current price action, if we see a break and weekly close above $32K Our next target would be the FWB:42K region where i belive we will spend most of our time before the next halvening. Now, I'm keenly aware of the top signals many are talking about, mainly the resurgence of Meme coins recently, but I don't see this as a "top signal". I see this as a market sentiment shift, the market is clearly ready for speculation, and often times speculation starts in the smaller sectors of the market. A good example would be the stock market, many times you will see the smaller market cap stock move first, followed by the larger stocks afterward. I believe the market is anticipating a pause from the FED due to a clear decline in inflation, and this is starting to show itself in the recent price action in the tech sector of the stock market. I believe there has been steady accumulation happening across a variety of markets, including tech, crypto, and precious metals. This time in the market feels very similar to the 2015-2016 market cycle, where we saw slow and steady growth over the course of the year. I think this is very possible, and I believe it is the most likely scenario moving forward into the end of the year. On a side note, back to the meme coin topic... I believe the recent meme coin craze is a sign of a market behavioral shift that is much more bullish, but i also believe this is likely a trap laid out for the average retail investor. The whales draw in the masses by creating meme coins that have no value, while they silently accumulate the real crypto assets that have real value. This tactic is perfect for getting the small fish to sell their bags and chase the lottery meme coin dream while allowing the large whales to buy the best coins at a significant discount just before they see a large surge in price. I hate to see retail investors fall for this trap... Hopefully, the crowd starts to catch on before it's too late. Although I have a more bullish outlook for the future, I'm not ignorant of the fact that we could see a retest of the lows, this is definitely a possibility if we see another large rejection from the $30K region, but I see that as another opportunity at a discounted price before challenging the resistance again. I'm carefully watching the MACD, we could get a bearish cross which could spell trouble for a few weeks, but until that happens I will remain cautiously bullish until proven otherwise. I think it's riskier to be out of the market right now than to be waiting on the sidelines for the perfect signal, that rarely happens. I'm carefully watching for bearish signals, but for now, everything looks like we're setting a base for higher prices down the road. If you wondering, NO I do not believe now is the time to be taking leveraged bets on the market, now is the time to be slowly accumulating, getting ready for what the future may hold. If we do see another sweep of the lows (which is entirely possible) you run the risk of being liquidated only to see the price bounce back very quickly. I would like to give a WARNING... I do foresee a scenario in the future that "could" end this next bull cycle abruptly, hurting a lot of retail traders in the process. I DO NOT want to see Bitcoin challenge or break the ATH at FWB:65K BEFORE the next halving in less than 300 days... This would be VERY alarming in my opinion. If this does happen, I give a STRONG warning to be extra careful, I could see a scenario where Bitcoin breaks the ATH at FWB:65K + and then quickly shoots for $90K only to make a top below $100K and quickly end the bull market in the process, this has a fairly high probability of happening if we see too much excitement in the market before the halving. Keep this thought in mind... If that does happen, I could see a multi-year bear market which would be devastating for all us retail traders. In fact, I would plan for this scenario and be relieved if it does not happen. Plan for the worst, and hope for the best... Remember, stay level-headed, stay calm, and stay ahead of the crowd.
BITSTAMP:BTCUSDLong
by CryptoSyphn
2
History is cyclical. So, read this. Bitcoin vs SP500—— Part 1 On the right is the S&P500 index (conditionally 1960-85 years). Bitcoin on the left. Stocks used to be as much of a novelty as crypto is now. Facts first, opinions second. Facts: — 1965-70 years. Green zone >>> Economic growth, more dollars, assets grow. But the war in Vietnam continues and world economic growth gradually stops. >>> Now: 2019-21 very strong growth of the stock and crypto market due to dollar printing. Towards the end of the inflation problem and the war in Ukraine. The economy worsened. — 1970-75 years. Purple zone >>> The fight against very strong inflation begins. Oil crisis. The USA spends a lot of money on the war in Vietnam. The global economy is not growing (stagnant). Taxes are increasing. >>> Now: The US and the EU are battling inflation, but it's not over yet. The USA spends a lot of resources to support Ukraine in the war. The global economy is not growing (stagnant). Taxes are increasing. — 1975-85+ years. Orange zone. >>> The end of the war. Inflation is still strong but improving. Tax reduction as a new policy of Reagan (USA). General improvement of the global economy.
SP:SPXLong
by sholi_software
#BTC/USDT #BTC Bitcoin is trading in an upward trend to the 37000 $ level. After the price broke the 27,800 $ level, which is a strong resistance level. Once it was breached, the price went up after the bearish flag breached the major one. We expect the price to rebound to test the 27,800 $ level to 31,000 $ again and proceed sideways at those levels until the beginning of 2024. It is expected to break the 37,000 $ level, heading to the 68,000 $ levels, in the period from April 2024 to June 2024. All of this is supported by significant momentum on Bitcoin. A lot of positive news in the coming period I hope the analysis helped you.
Long
by CryptoAnalystSignal
Bitcoin: "Gold on Steroids" with Institutional InfluxBitcoin has frequently been compared to Gold over the years. Initially deemed a "safe haven" similar to Gold, analysts are currently evaluating these two investments to determine if Bitcoin meets the criteria as "Gold on steroids." Relative returns are adjusted for the risk of Bitcoin compared to Gold. Over the past 5 years, up to November, Bitcoin's Sharpe Ratio has competed favorably when compared to Gold and other proven asset classes in the market. The Sharpe Ratio is defined as the difference between the return of an investment and the risk-free rate divided by the standard deviation of the investment. Simply put, the Sharpe Ratio adjusts performance for risk beyond what investors would bear for a specific asset. Jurrien Timmer, Global Macro Economic Director at Fidelity, notes that Bitcoin's correlation with the S&P 500 (+40%) is higher than that of Gold (+14%) over a 5-year period. However, the correlation between BTC and the US stock market has decreased over the years and is lower than most asset classes. Over the past 12 months, the correlation between BTC and the S&P 500 has decreased from 40% to 25%. Timmer argues that Bitcoin is more volatile than most other assets, but the volatility impacts both ways, and BTC investments have their own risk-reward characteristics, as seen in the past decade. According to a CoinShares report, institutional investors continue to pour money into Bitcoin funds, with a weekly inflow of $132.8 million as of December 4th. At the time of writing, the price of Bitcoin is $44,162 on Binance.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin Price Could Drop to $42,000Bitcoin price faces potential decline Bitcoin is currently trading at $43,241 after failing to surpass the $44,500 level, leading to minor adjustments. While broader market prospects suggest an upward trend at the time of writing, the short-term picture leans slightly towards a downward trajectory. This is evidenced by the Moving Average Convergence Divergence (MACD) indicator. The diminishing green bars indicate a weakening upward trend, implying vulnerability to a Bitcoin price drop. However, BTC is likely to drop back to $42,000 or even $40,000 if the previously established support levels are breached. This is a short-term scenario, pending a stronger-than-expected NFP report. Yet, if the report is weaker or broader market signals turn bullish, a recovery from the $42,000 level becomes plausible. This would propel an upward movement, pushing Bitcoin prices beyond $44,500 and negating the bearish outlook.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin (BTC) Could Reach a Death Cross SoonThere is a deep concern regarding the current state of Bitcoin (BTC) and its potential impending death cross. As someone who genuinely cares about your trading success and financial well-being, I strongly urge you to pause your BTC trading activities and carefully consider the risks involved. For those unfamiliar with the term, a death cross occurs when the short-term moving average of an asset, typically the 50-day moving average, crosses below its long-term moving average, usually the 200-day moving average. This technical indicator is often regarded as a bearish signal, indicating a potential downward trend for the asset. Recent market analysis and indicators strongly suggest that Bitcoin is on the brink of experiencing this ominous death cross. Such a development could have significant implications for the cryptocurrency market as a whole, potentially leading to a prolonged period of downward price movement and heightened volatility. While it is true that the cryptocurrency market is inherently volatile, a death cross has historically been associated with extended bearish periods. It is crucial to exercise caution and consider the potential consequences before making any further BTC trades. The last thing any trader wants is to be caught on the wrong side of a significant market downturn. In times like these, it is crucial to prioritize the preservation of capital and adopt a defensive trading strategy. Instead of actively trading BTC, I encourage you to consider taking a step back, reassess your portfolio, and perhaps explore alternative investment opportunities until the market stabilizes. This temporary pause will not only protect your hard-earned capital but also provide you with an opportunity to evaluate the situation from a broader perspective. Remember, the cryptocurrency market is highly dynamic and subject to rapid changes. It is always wise to approach trading decisions with a level-headed mindset and seek advice from trusted sources. I strongly recommend consulting with a financial advisor or conducting thorough research before making any significant trading moves. Your financial well-being is of utmost importance to me, and I genuinely believe that taking a cautious approach during this potentially critical period is the wisest course of action. By pausing your BTC trading activities and focusing on preserving your capital, you will be better positioned to navigate the market's uncertainties and make informed decisions when the time is right. Thank you for your attention, and I sincerely hope that this warning reaches you in time. Please feel free to reach out if you have any questions or concerns in the comment section below. Stay vigilant and trade wisely.
BITSTAMP:BTCUSD
by bryandowningqln
BTC Surpasses SMA 100 – Time to Go Long and Aim for $45k! I couldn't contain my excitement any longer, so I had to drop you a line and share the good news: BTC has successfully crossed above the SMA 100! 🚀 Now, before we dive into the details, let's take a moment to celebrate this significant milestone together. 🎉 It's moments like these that remind us why we love being a part of the crypto community – the thrill of witnessing the market's growth and the opportunities it presents. So, what does this mean for all of us? Well, my friends, it's a clear indication that the trend is strongly in favor of BTC's upward movement. The SMA 100 is a widely followed technical indicator, and BTC's triumphant rise above it signifies a potential bullish trend ahead. Now, here comes the exciting part – the next target for BTC is set at an impressive $45,000! 🎯 This implies that there is still a considerable upside potential for those who decide to go long on BTC at this stage. The market is showing promising signs, and it's time to seize this opportunity for potential gains. I encourage you all to consider taking a long position on BTC, capitalizing on this upward momentum. Remember, timing is key, and this could be an excellent chance to ride the wave as BTC continues its ascent towards new heights. 🌟 As always, please ensure that you conduct thorough research and analysis before making any investment decisions. Markets can be unpredictable, and it's essential to stay informed and make informed choices. If you have any questions or would like to discuss this further, I'm here to help. Feel free to reach out to me via a comment below, and let's navigate this exciting journey together. Wishing you all a fantastic trading experience ahead! P.S. Don't miss out on this golden opportunity! Grab your chance to go long on BTC and aim for that $45k target! Stay ahead of the game and make the most of this bullish trend. Happy trading! 📈🚀
BITSTAMP:BTCUSDLong
by bryandowningqln
Bitcoin candles of Satoshi are entering the realm, you ready? Only when the dynamics of S/D , Hash rate, Difficulty, UXTO expanding, do Satoshi candles appear. i.ibb.co Beyond the black horizon, trying to take control See my girl, she shivers in her bones The sun and zenith rising, trying to take us all There's a fire between us So where is your God? There's a fire between us I can't get off the carousel, I can't get off the carousel I can't get off the carousel, I can't get off this world Beam me up, 'cause I can't breathe Spaceman I always wanted you to go Into space, man.
INDEX:BTCUSDLong
by FederalXBT
Bitcoin Price Poised to Return to $45,000 LevelThe cryptocurrency analyst behind the handle X @rektcapital has evaluated the Bitcoin price trend and predicts that BTC could return to the $45,000 level before the fourth halving event, expected to occur in April 2024. The analyst notes repetitive trends in the past three cycles and anticipates a pullback to the $42,000 level after BTC reaches $45,000. The analyst has identified the $40,000 to $42,000 range as the most crucial for Bitcoin, marking it as the peak in the ongoing cycle. The analyst believes $36,300 is a medium resistance level, and BTC may find support in the $31,000 to $32,500 range. The current Bitcoin price is $41,725 on Binance at the time of writing. BTC has surged 10% in the past week, bringing nearly 4% daily gains for holders.
BITSTAMP:BTCUSD
by Gwen_Humuna
BTC Shows Positive Awesome Oscillator and RSI Signals!I am thrilled to share with you some positive indicators that have recently emerged for Bitcoin (BTC), which may present a lucrative opportunity for potential gains. Firstly, let's talk about the Awesome Oscillator (AO). It is a technical analysis tool that measures market momentum, specifically the difference between the 34-period and 5-period simple moving averages. The Awesome Oscillator for BTC has been displaying a remarkable upward trend, indicating a strong bullish momentum in the market. This is a positive sign for those considering entering a long position on BTC. Moreover, the Relative Strength Index (RSI) is another powerful indicator that measures the speed and change of price movements. BTC's RSI has recently shown a significant surge, crossing the threshold into overbought territory. This suggests that the buying pressure has been consistently strong, potentially leading to further upward movement shortly. With these positive signals from both the Awesome Oscillator and RSI, it's hard not to feel optimistic about the potential for BTC's price to continue its upward trajectory. As traders, we need to seize such opportunities when they arise. Therefore, I encourage you to consider taking a long position on BTC currently. However, as always, it is crucial to conduct your own thorough analysis and risk assessment before making any trading decisions. Remember, the cryptocurrency market is highly volatile, and it's essential to stay informed and exercise caution. If you're interested in exploring this opportunity further, I recommend keeping a close eye on BTC's price movements and monitoring any additional positive indicators that may emerge. Timing is key, so be sure to stay vigilant and act accordingly. I hope this news brings a smile to your face and ignites a spark of excitement within you. Let's make the most of this potential opportunity and continue to navigate the cryptocurrency market with enthusiasm and positivity! Wishing you happy trading and successful ventures ahead!
BITSTAMP:BTCUSDLong
by bryandowningqln
Bitcoin Eyes Upside MoveBitcoin (BTC) has breached the resistance level of $38,008, though not decisively, trading at $38,139 at the time of writing. There is still potential to extend towards the higher range at $38,414 or, in the case of a strong uptrend, reach $40,000. The Relative Strength Index (RSI) is moving upwards and is about to cross above the signal line (yellow band). Historically, each time this crossover occurs, BTC reacts with a bold upward move, interpreting this intersection as a buying signal. Similarly, the Awesome Oscillator (AO) indicator continues to hold in the positive territory, indicating that the bulls still maintain control despite strong downward price pressure. On the other hand, increasing selling pressure could push the price of Bitcoin down below the support level of $38,008 or, worse, test the support at $35,487. In a more severe scenario, a downturn could cause BTC to lose the confluence support between the horizontal line and the 50-day Simple Moving Average (SMA) at $33,912. Breaking and closing below this level would invalidate the bullish outlook, setting the stage for further downside towards the psychological level of $30,000.
BITSTAMP:BTCUSD
by Gwen_Humuna
3
Get Ready for an Exciting BTC Upswing! 🚀I couldn't contain my excitement as I analyzed the most recent weekly Bitcoin (BTC) chart, which hints at an imminent upswing that could bring substantial gains. So, buckle up, and let's dive into the details! As we all know, BTC has been consolidating within a wedge pattern over the past few weeks, exhibiting a narrowing range of price movements. However, the latest developments have me feeling particularly bullish about the future. The wedge is reaching its apex, indicating that a significant breakout is just around the corner! The beauty of wedge patterns is that they often precede explosive price movements, and this one seems no different. The narrowing range suggests that the market is preparing for a strong move, and history has shown that these breakouts can lead to substantial gains for those who seize the opportunity at the right time. Now, let's talk about the call-to-action that could potentially change the game for your trading portfolio. I strongly encourage you to consider going long on BTC to anticipate this upcoming upswing. By opening a long position, you position yourself to benefit from potential price surges and maximize your profit potential. Remember, timing is crucial in the world of trading, and this could be the perfect moment to take advantage of the market's momentum. As always, it's important to conduct your analysis and assess your risk tolerance before making any trading decisions. However, given the current market conditions and the promising wedge pattern, it's hard not to feel a surge of excitement about the potential gains that lie ahead! So, my dear traders, seize this opportunity and make the most of this potentially game-changing upswing. Keep a close eye on the BTC charts, set your entry and exit points wisely, and let's ride this wave together!
BITSTAMP:BTCUSDLong
by bryandowningqln
Interesting Events With ORDI Token. . Potentially the next move? ORDI is seen as the first BRC-20 test where the supply is 21,000,000 and the test mints were limited to 1,000. I have experimented with this like I did with the original NFT coins, Ordinals are seen as Artifacts on the blockchain which in theory makes perfect sense. You can hardcode your own artifact to the most secure computer network in the world. ORDI? you don't need any to create an artifact "Inscribing" but the Origin test tokens were in fact ORDI meaning if the "Inscribing" market takes off there will be major interest on the ORDI token. ORDI is almost like creating a future "poor mans bitcoin" the silver to gold. Worth it to buy a few if you can afford to lose it, pretty soon ORDI could be over $100 on the way to something like $3,000
INDEX:BTCUSDLong
by FederalXBT
BTC movement patternHi all) Doing an update on the structure. Now we observe the movement in sideways range on BTC - which is good fuel for altcoins) This model is shown to understand the most likely movement schematically) It makes no sense to analyze bitcoin on the timeframe below the daily, as narrow sidewall does not form anything interesting. There is an increase in volume over the last few days, as well as a rounding and a smooth increase in volume over the last three months. The price is pushing towards $25,000 and a lot of volume is being generated, but there is no result. This is very bad for a drop from the current levels. It is logical to put arrow there, because the main liquidity area is at 25k level) It is necessary to see the dominance growth for large scale growth of BTC. That is liquidity from alts or new money.
by CHOWTRADE
The biggest Ascending Triangle pattern I've ever seen BTC.D (note this is inverse meaning up = all non (btc) marketcap rising. If you invert the BTC.D I can't deny that the bounce here is pointing to a reversal in this asset class. Bitcoin can go to 10-20 trillion in market cap and still have a BTC.D that reverses. The Spot BTC ETF could be starting to spawn I hate to say it but a crypto v2 boom similar to the 1920s (roaring 20s). I've made post on here on how market cap is a terrible indicator for the amount of cash inside this asset class and you only need a few trillion of real currency to hit a large total market cap. How funny that random internet "coins" could have the potential to reach 20% of the market cap of the Total Market Capitalization of Public U.S. Companies. I still see most of the ecosystems in this system are beyond useless but then again why do people stay in terrible countries? they create villages and tribes and they isolate, it's almost like tribes and villages are spawning globally with the reserve asset being Bitcoin not Gold this time.
CRYPTOCAP:BTC.DLong
by FederalXBT
2