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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
UNpopular opinion $BTC down $CME WOuld pay to be contrarian here. all momentum indicators are very much over extended but can run a bit more but i feel time is running out. everyone and their moms are now calling for 40k where were they at 26??? we got a perfect CME gap fill, almost seems to easy to long here which is why we short. and fade the general public. I find it also very improbable on a new rally into the halvening. Imo we go tag the bottom gap at 20,300 to ill the final gap on daily. and chad after the halvening. all shorts got liq/d on the last move. i can see this slow bleed out down to the right before resetting and everyone calling crypto a scam. Holler if ya hear me.
CME:BTC1!Short
by sheffield305
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
BTCUSD Day | Falling to support level?BTCUSD is falling from a swing high resistance toward our take-profit target. Entry: 42001.82 Why we like it: There is a swing-high resistance Stop Loss: 44411.36 Why we like it: There is the pullback resistance level Take Profit:37981.33 Why we like it: There is the multi-swing-high resistance level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:BTCUSDShort
by VantageMarkets
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