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BTC - BITCOIN LEGACY - the big dogBTC - BITCOIN LEGACY - the big dog took a look at this beast on the monthly; going to keep an eye on this one as we go forward as a zoom out reference. its all there on the chart, two obvious comparison periods. now check the momentum levels. tbf we have macro disasters left right and center, so these levels make sense. maybe a good long term map here; im thinkin if it continues to break down here it'll prob go lower than people think.. if it holds this price level approx then keep accumulating those hot alts from the bull, they'll prob bounce harder. gl
BITSTAMP:BTCUSD
by Crypto-Quantum-Fox
4
BITCOIN = BREAKOUT"For the bullish scenario to unfold, BTC must overcome the $27.3k resistance threshold." This is what I said in my previous BTC update. Now, here we are, BTC broke and closed above the $27.3k resistance which is a good sign. This doesn't mean that it'll start pumping and rallying from this price point. The current scenario shows a retest phase where BTC might touch the support 1 level and then bounce back. All I expect is a gradual movement on BTC. The $31.5k resistance still awaits for BTC. What's your take on this? Do let me know in the comments. Thank you for reading and trade safely. Regards, Team Dexter.
BINANCE:BTCUSDLong
by Dexter_The_Trader
Bitcoin's Wild Ride Amid ETF RumorsBitcoin's price surged by 10% in the early hours of New York trading after news broke that the U.S. SEC had approved the iShares Spot BTC ETF. However, this uptick was short-lived due to the confirmation that the news was false. Long-time traders who had opened short positions faced significant losses, with nearly $80 million in short positions liquidated, alongside about $18 million in long positions. This reaction could signal a potential market crash if the U.S. SEC indeed approves the immediate BTC ETF, an outcome it's currently considering. The false rumors pushed Bitcoin's price down to the $28,000 range, with the Relative Strength Index (RSI) holding above 50. The unusually long daily candlestick resulting from these mistaken speculations resembles a true 'exhaustion candle' and might indicate an upcoming reversal in the short-term uptrend, hinting at vulnerabilities ahead. Bitcoin's price could lose its entire foundation by October 16, potentially dropping below the psychological support level at $26,000. Breaking below this trendline would confirm even deeper losses. Only a daily candle closing above the resistance level at $29,747 could confirm the uptrend, paving the way for an extension towards the psychological level of $30,000. In a strong bullish scenario, Bitcoin might surpass July's peak, reaching the upper range of $31,804. Such a move would represent a 15% increase from the current level. Stay tuned for more updates as Bitcoin navigates these volatile market conditions.
BITSTAMP:BTCUSD
by Gwen_Humuna
BTCUSD DAILY (D) ANALYSISIn recent developments, the cryptocurrency market, particularly Bitcoin, has been influenced by a combination of regulatory and community-driven events. Notably, the SEC's decision not to contest the court ruling favoring Grayscale Investments and their Bitcoin ETF plans has generated a sense of optimism among investors. This move is perceived as a potential step towards a more accommodating regulatory environment for Bitcoin ETFs, thereby boosting confidence in the market. Furthermore, the conclusion of the prominent Bitcoin Amsterdam event has underscored the continued expansion and engagement within the Bitcoin community, reflecting a growing interest and involvement from various stakeholders in the cryptocurrency space. Analyzing the market sentiment, while some technical indicators have presented a mixed outlook, the recent positive regulatory news from the SEC and the successful Bitcoin Amsterdam event have acted as key drivers of a cautious yet increasingly optimistic stance among investors. These factors are likely to exert a favorable influence on market dynamics in the short to medium term, potentially fueling a gradual upward trajectory for Bitcoin. Consequently, the overall sentiment in the cryptocurrency market can be summarized as cautiously optimistic, with a tilt towards a slightly bullish outlook. This sentiment is underpinned by the interplay of technical factors and recent positive developments, emphasizing the importance of regulatory decisions and community engagement as pivotal drivers in shaping the trajectory of Bitcoin and the broader cryptocurrency landscape.
PEPPERSTONE:BTCUSDLong
by fzm_100
BTCUSD Trend AnalysisExpecting a fall of around 17% towards 22000 level as per the WXY correction after which a massive 120% rally will happen towards 49000 level. This 17% fall will sweep the liquidity to fuel the upside move and is highly likely to happen. This is in correlation to Crypto Total Market Cap which is linked below. Good to look for investment opportunities during this fall instead of panicking. This is not a buy or sell recommendation, do your own due diligence before taking any action. Peace!!
BINANCE:BTCUSDShort
by Swastik24
Where to from here on BTCI did a series of similar posts on SPX predicting its paths, and they have played out beautifully. Let's see what BTC is up to. We must look at a lot of things when guessing the direction of any asset, like looking at DXY, yields and traditional markets, but in this post, I will ignore all that, look at BTC purely based on its market structure. On larger timeframes we have not made any progress at all in 6 to 7 months on bitty. We have just been ranging, we ranged from 25 to 31K in Range 1, then again did the same thing in Range 2 and now it seems are about to repeat that again and maybe form range 3. I want to see either Range 4 or Range 5 present themselves for any new possibilities until then well we just keep ranging. Right now, I am looking at the yellow part that played out last time when we rotated from bottom to top in Range 1. An additional thing to note is the time it took for full rotation in Range 1 was 94 days and we are on the 94th day today and in Range 2 where we are seeing comparable price action highlighted in yellow so the possibility of a full rotation back-up must not be ignored. If we do, there are two long term play that appear, we either break out of this range and form a Range 4, above, or we are in a distribution here and will create a Weekly Head and shoulder by creating a lower high this time around 29500-30500 area. Now to the question, why have we been ranging. Because of the law of supply and demand. We have massive Supply right above where we btc has been hitting its head and bounce from weekly demand. As you can see, we have almost depleted the supply, but demand is deep, and we have only scratched the surface of it. So, it's possible if we create a lower high this time around, we dig very deep into the demand which would be in confluence with the target of the Head and shoulders that will form with lower high.
BYBIT:BTCUSD.P
by zakoraio
BTC Swing Long After 85% Bear MarketBTC Bear Markets typically will take us down -85% before the start of the next cycle. We aren't quite there yet, but we would be if we reached the macro GP pulled from the previous bear market low to our current ATH. It also coincides with the last down candle/order block that broke bearish structure and caused the last macro impulsive move/bull run. This idea has us dropping into the depths for a real capitulation, shaking out all of the weak hands and making everyone lose hope before finally putting in a bottom right before the BTC halving. We should see a real bottom in December of 2023 if this is the case.
INDEX:BTCUSD
by DigiLex_LLC