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Bitcoin (BTC) Price Rally Sparks Enthusiastic MomentumAfter a period of consolidation, Bitcoin has undergone a rapid and decisive price surge. Successfully maintaining its position above both the 50-day and 200-day moving averages, indicative of robust and sustained bullish sentiment. The fanning out of the moving averages is often interpreted as a sign of increasing momentum. Furthermore, recent green candles on the chart, characterized by large bodies, reflect strong buying pressure. The absence of long wicks suggests that pullbacks are swiftly being bought, demonstrating a solid presence of fundamental buying strength in the market. This scenario often aligns with institutional investment activity, as institutions tend to execute strategic, large-scale purchases rather than quick transactions. In the immediate term, Bitcoin appears to be approaching resistance levels at recent highs, with potential pullbacks likely to test the strength of current support levels. As Bitcoin enthusiasts closely monitor these developments, the market dynamics indicate a shift towards a more optimistic outlook, driven by both technical indicators and institutional investment behavior.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin Price Expected to Surge by 20% to $50,000 The price of Bitcoin (BTC) is currently on an upward trend. Surpassing the psychological level of $42,000 has sparked optimism, with Bloomberg setting an ambitious target for the largest cryptocurrency by market capitalization. According to the news outlet, Bitcoin reaching $42,000 is just the beginning of a new crypto super cycle that could propel the world's largest token to over $500,000, as advocates claim it heralds a new monetary order making waves on Wall Street. Meanwhile, the price of Bitcoin is caught within a weekly supply zone ranging from $40,517 to $46,972. To confirm the continuation of the primary trend (upward on the weekly timeframe), the price needs to break and close above the midpoint of the supply barrier at $43,860. A decisive move above this level could see Bitcoin extending its rally, turning the supply zone into a bullish trend-breaking tool as BTC aims for the forecasted psychological level of $50,000. In the case of a significant price increase, the surge may encounter resistance at $55,560. It is even plausible to extrapolate these increases to the highest range of $66,098. Such a move would constitute a 56% increase from the current level. The Relative Strength Index (RSI) supports this outlook as its upward movement indicates bullish momentum. Similarly, the bars on the Awesome Oscillator (AO) chart are green in the positive zone, signaling that the bull camp is leading the market. These factors add confidence to the optimistic viewpoint. As Bitcoin continues to make headlines, market participants are closely watching for potential breakthroughs and milestones in its price journey.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin - How to trade BOLLINGER BANDSHi Traders, Investors and Speculators📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. When it comes to Technical Indicators, speculators have many options to choose from. Do you prefer to keep it simple? If your answer is YES, the Bollinger Bands are for you. First, a little about the genius behind it, John Bollinger. Bollinger Bands were created by John Bollinger in the 1980s. He is still very much alive and well, and very active on Twitter. He constantly engages the community through seminars and interviews. As you can see, I'm a huge fan of his work! This revolutionary technical indicator offers insights into price potential and possible volatility. Let's get technical : The higher the price action trades at the top/ upper part of the BBands, the more volatility and volume you can expect. The same is also true for the opposite - the lower the price trades on the bottom of the BBands, the more volatility and volume you can expect. It is also true that when the price trades at the top for an extended period of time, the market can be considered overbought; thus it is a good time to consider selling. The same is true for the opposite. When the price trades on the bottom of the Bollinger Bands for an extended period of time, the market is considered oversold and it is a good time to consider opening a position / buying. Important to note that the Bollinger Bands are especially useful and reliable in higher timeframes. To make overbought conditions and oversold more clear, let's take a look at a few examples on SOLUSDT: From the Solana chart above, we see clearly that when the price action touches an orange band, it is often time to exit / enter. You can wait as the price continues upwards, but the longer you wait, the more your risk increases. Careful not to be greedy, take profits during a bullish cycle. To make volume in conjunction with BBands more clear, let's take a look here on ETHUSDT: You'll notice that usually on higher timeframes, the turquoise upper / lower band, is where you start paying attention. This is where firsts profits can safely be taken, with the possibility of the price still wicking towards the orange or red. To get a little more technical, let's take a look at accumulation options with the Bollinger Bands. When the BBands contract, it is usually before a big move up or down. Now you'll need to view the chart from a macro perspective/ Fibonacci trend based retracement and trend based extension on a weekly chart to get an idea in which direction it may go. This proves another point that often, technical indicators are only useful if used correctly with chart analysis. Let's take a look at a few examples on XRPUSDT : These are not the Bollinger Bands as they were created y John Bollinger, instead, they have Fibonacci lines added. I prefer to use them this way, it's an improvement on top of the original BBAnds. They become especially useful if you use it with another indicator called Phoenix Ascending. Find below at related ideas a quick guide on Phoenix Ascending. Have a great weekend 🚀 __________________________ 👀Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 📉 Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
43
Bitcoin Price May Drop to $40,000, Key Indicators Suggest The price of Bitcoin (BTC) is approaching the psychological level of $40,000 and could erase it before undergoing a correction. Several bullish indicators, including the Relative Strength Index (RSI), have strengthened the prospects for further price increase. The RSI, a momentum indicator, indicates increasing momentum with its position at 68, suggesting there is still room for upward movement before the cryptocurrency king could be considered overbought. Furthermore, the Awesome Oscillator (AO) is in positive territory, with green bars on the chart, indicating that the bullish camp is leading the market. Therefore, increased buying pressure could see the price of Bitcoin rise from the current level of $39,462 (as of 8:00 AM GMT), surpassing the recent high within the range of $39,778 before testing the psychological level of $40,000.
BITSTAMP:BTCUSD
by Larissa-Trader
2
Bitcoin Soars in January: ETFs Await Approval & Price Prediction The Bitcoin Spot ETF may see widespread approval in January, according to insights from Eric Balchunas, a Bloomberg ETF analyst, who detailed the updated application from asset manager BlackRock. Bitcoin prices continue their upward trajectory, triggering a short-term liquidation of $8.94 million. The total number of entities issuing Bitcoin Spot ETFs has risen to 13, following Pando's ETF registration. Pando, a European ETF giant, has submitted an S-1 application for the Pando Asset Spot Bitcoin Trust. Eric Balchunas, the Bloomberg ETF analyst, highlighted the late filings and shared details about BlackRock's meeting with the Securities and Exchange Commission's Trading and Markets division. Balchunas informed his followers through a recent tweet that the asset management giant presented a modified physical model based on feedback received during their November 20 meeting. The U.S. financial regulatory agency had previously requested Bitcoin Spot ETF applicants to amend their profiles to create liquidity. Applicants may continue debating cash creation and ETF distribution using physical assets with the regulatory body. Predictions surrounding the Bitcoin Spot ETF have spurred a recovery in both the spot and futures markets. Seyffart recently provided detailed information on ProShares BITO, an ETF futures fund that recently reached an all-time high. Grayscale Bitcoin Trust's GBTC discount has narrowed, touching a record low in anticipation of BTC ETF approval. Bitcoin holders are eagerly awaiting the potential approval of various BTC Spot ETFs in January 2024. According to Coinglass data, the Bitcoin price surge led to the liquidation of $8.94 million in sell orders overnight. Anonymous crypto analyst Crypto Tony assessed the Bitcoin price chart and predicted a rise to $40,000 before a potential correction, marking an initial decline to around $36,000. In summary, the outlook for Bitcoin includes the possibility of widespread approval for Spot ETFs, contributing to market optimism, while analysts anticipate further price increases before a potential correction.
BITSTAMP:BTCUSD
by Larissa-Trader
"Bitcoin Could Rally Northward on Potential RSI Intersection" Bitcoin (BTC) has breached the resistance level of $38,008, though not decisively, currently trading at $38,139 at the time of writing. There is still potential for an extension towards the higher range at $38,414 or, in the case of a strong upward movement, pushing towards $40,000. The Relative Strength Index (RSI) is moving upward and is on the verge of crossing above the signal line (yellow band). Historically, each time this intersection occurs, BTC has responded with a bold upward move, interpreting it as a buying signal. Similarly, the Awesome Oscillator (AO) indicator remains in positive territory, indicating that the bullish camp maintains control despite strong downward price pressure. On the flip side, increasing selling pressure could lead Bitcoin to drop below the support level of $38,008 or, worse, test the support level of $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 argument, setting the stage for a further southward extension towards the psychological level of $30,000.
BITSTAMP:BTCUSD
by Larissa-Trader
Asian Stocks Advance Amid Dollar's Decline vs Fed's Rate OutlookAsian equities saw positive momentum on Tuesday, coupled with the US dollar hitting a three-month low, reflecting investor confidence in the Federal Reserve's completion of the interest rate hike cycle. The focus remains on a pivotal inflation report slated for later this week. MSCI's broadest index of Asia-Pacific shares outside Japan recorded a 0.39% increase, signaling an impressive nearly 7% surge in November – the strongest monthly performance since January. Japan's Nikkei, despite a 0.20% slip, achieved an 8% gain for the month, marking its most robust monthly performance in three years. Rodrigo Catril, Senior FX Strategist at the National Australia Bank (NABZY), emphasized the significant role of central bank policy outlook in boosting risk appetite in November. Indicators of easing inflationary pressures align with the belief that numerous central banks have concluded their tightening cycles, setting the stage for anticipated interest rate cuts next year, as stated by Catril. Current market expectations suggest a 96.8% likelihood that the US central bank will maintain interest rates next month. The likelihood of rate cuts is projected to increase in mid-2024, according to CME's FedWatch tool. Investors will closely monitor the Fed's preferred inflation gauge on Thursday and eurozone consumer inflation data this week for a clearer understanding of inflation trends. European Central Bank President Christine Lagarde, on Monday, asserted that the central bank's efforts to control price growth are ongoing. She cited robust wage growth and lingering uncertainties, even as inflation pressures ease in the eurozone. Fed Chairman Jerome Powell's Friday speech will be scrutinized for insights into potential future interest rate directions. China's CSI 300 index declined by 0.23%, and Hong Kong's Hang Seng Index dropped by 0.70% a day after data indicated slower profit growth in Chinese industrial companies for October. Monday's US data revealed a larger-than-expected decline in new home sales for single-family homes in October due to higher mortgage rates. However, the housing segment remained supported by persistent shortages of available properties. Weaker-than-expected data impacted Treasury bond yields, with the 10-year benchmark yield shedding 9.6 basis points on Monday. During Asian hours, they rose by 1.6 basis points to 4.404%. The US Dollar Index, gauging the greenback against a basket of currencies, declined to 103.11, its lowest since August 31. The Japanese yen gained 0.28%, reaching 148.25 per USD. Oil prices rebounded on Tuesday following a significant decline the previous day, with investors anticipating the OPEC+ meeting this week and potential supply constraints in the coming year. US crude oil rose by 0.31% to $75.09 per barrel, and Brent returned above $80.00. Gold spot prices increased by 0.1% to $2,015.00 per ounce, slightly below the three-month high reached on Monday.
BINANCE:BTCUSD
by tatumhodosy
Bitcoin Mining Tool Cleanspark Gaining MomentumThe daily chart below provides a more detailed view of the early stages of the red wave III. From the December 2022 low, a bullish price cycle unfolded within the red wave 1. In this context, the black wave ((v)) displays an expansive phase, concluding the red wave 1 in July 2023 at $7.60. From the peak, an accumulation pattern within the red wave 2 emerged in the form of a zigzag. Firstly, the black wave ((a)) found its bottom in August 2023 at $4.91. Subsequently, a recovery in the black wave ((b)) set a pivot in the same month at $6.86. From there, the black wave ((c)) broke below the $4.91 low, initiating a downtrend. The target range of $4.16-$2.50 was achieved, and the price is now rebounding. The preferred outlook suggests that the red wave 2 concluded in October 2023. With the price above $3.38, the next bullish phase within the red wave 3 has commenced. The short-term target is the range of $9.25-$12.88, and potentially even higher. For long-term scenarios, the current price below $6 presents an excellent investment opportunity. While medium-term investors can anticipate a potential 7-fold reward for their risk, long-term rewards may reach up to 25 times and beyond, considering the current commitment.
BINANCE:BTCUSD
by classiedescombes1234
Bitcoin's Price Trend Questioned as ETF Momentum FadesBitcoin price action raises questions about the upward trend as ETF momentum wanes. With buyer liquidity collected on November 9th at $39,149, the potential for a BTC reversal is significant. Leading indicators are present - decreasing volume, diminishing liquidity, bearish divergence, and more. Given these signals, if BTC undergoes a correction, it is likely to explore the following support zones: Reasonable price range, extending from $32,833 to $30,299. Weekly support level at $31,376. Psychological level at $30,000 USD. While a correction seems plausible, investors should note that any announcements regarding the approval of a Bitcoin ETF still have the potential to propel BTC higher. Therefore, bearish proponents must exercise extreme caution, as a sudden reversal could push Bitcoin beyond the $40,000 mark.
BITSTAMP:BTCUSD
by rezakaleigh261
Bitcoin Aims for $40,000 with Tether Whale SupportThe price of Bitcoin surpassed the $38,300 mark for the first time in 18 months as demand for BTC steadily increased. Catalysts such as anticipation of the U.S. financial regulatory authority approving the physically settled Bitcoin ETF and growing demand from Tether whales could potentially push the BTC price even higher. Among the contributors to Bitcoin's rise to $38,300, prominent Tether whales have emerged. Based on data from the cryptocurrency information tracking tool Santiment, the top 100 Tether addresses have added an additional $1.67 billion to their holdings in the past six months. As the buying power of these stablecoin whales increases, the likelihood of Bitcoin reaching $40,000 also rises. To establish the correlation between Tether whales and the Bitcoin price surge, Santiment highlights the reduction in holdings of USDT tokens by whales over two weeks, coinciding with BTC rising to $38,300. Tether whales have utilized their stablecoin to accumulate Bitcoin and drive demand for the largest cryptocurrency. During the Bitcoin price decline in August, stablecoin whales accumulated BTC tokens. The current trend for Bitcoin has been upward since November 2022, with the price of BTC at $37,795 on Binance after a recent pullback from the local peak of $38,380. Bitcoin is targeting the $40,000 mark, representing an almost 6% increase from the current level.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin Price Analysis Bitcoin broke through a strong resistance level at $37,980 on November 24, but the bullish camp is struggling to sustain the breakthrough. This indicates strong defense from the bearish side. Both moving averages are sloping upward, and the Relative Strength Index (RSI) above 61 suggests minimal resistance to the upside. If buyers maintain the price above $37,980, the BTC/USDT pair could reach $40,000. This level could witness another tough battle between bulls and bears, but if buyers gain the upper hand, this pair could surge to $48,000. Time is running out for the bears. To weaken momentum, they would have to push the price below the 20-day EMA. The short-term trend will turn negative below $34,800.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin Holds Above $37,000 Amidst Thanksgiving Holiday TradeCryptocurrency values experienced a modest decline on Thursday, attributed to lower trading volumes in Bitcoin and Ether during the Thanksgiving holiday. Meanwhile, some altcoins demonstrated upward momentum even as the major cryptocurrencies saw a dip in their prices. After surpassing the $37,000 threshold earlier in the week and testing the $38,000 resistance multiple times, Bitcoin (BTC) saw a retracement of short-term profits on Thursday, as traders opted to secure gains ahead of the Thanksgiving holiday. Notably, Crypto Myths pointed out that a significant portion of selling pressure on leading cryptocurrencies stems from short-term holders liquidating their BTC positions back into exchanges after breaching the $37,000 mark.
BITSTAMP:BTCUSD
by Larissa-Trader
1
BTC/USD Technical Analysis: Bitcoin Faces Downward Pressure Bitcoin's price experienced a decline on Tuesday and Wednesday following a series of significant legal developments in the industry. The BTC/USD pair dropped to a low of $36,260, significantly below the year's peak of $38,000. The BTC/USD pair retreated after reaching a high of $37,800 on Tuesday. On the 4-hour chart, it remains within an ascending channel represented by black lines. It is currently consolidating at the Exponential Moving Average (EMA) 50 and EMA 25. The Relative Strength Index (RSI) has moved below 50. Upon closer inspection, it has also formed a triple-top pattern, often a sign of a price decline. The neckline of this pattern is at $34,740, the lowest point on November 14th. Therefore, the outlook for this currency pair suggests a potential price decrease, with the next level to watch being $34,738. This perspective will be confirmed if the price moves below the lower boundary of the ascending channel. An alternative scenario is a recovery for this pair, moving above this week's high of $37,800.
BITSTAMP:BTCUSD
by Larissa-Trader
1