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Bitcoin/Gold Ratio Drops by Over Half from 2021 to 2023"The Bitcoin/Gold ratio continues to decline. This ratio, indicating how much gold is needed to buy one Bitcoin, has experienced a significant drop over the past two years. In November 2021, the ratio stood at 35, but by 2023, it had decreased to 15. According to Longtermtrends' calculations, in January 2022, this ratio narrowed from 24 to 9 by the end of the year during the cryptocurrency market downturn. In 2023, the ratio fluctuated between 10 and 15, showing that fewer ounces of gold are now required to purchase Bitcoin, indicating gold's superior performance compared to Bitcoin. Bitcoin awaits a resurgence driven by external catalysts. The impact of the Federal Reserve's decision to maintain or reduce interest rates will affect the pricing of both Gold and Bitcoin. While low-interest rates are often seen as positive for Gold, as they reduce the opportunity cost of holding the yellow metal, Bitcoin's price reaction depends on multiple factors. If the Fed's monetary policy reflects pre-emptive responses to economic concerns or economic downturns, it could push Bitcoin prices higher. However, there are factors beyond interest rates to consider. A potential recovery is looming with the Bitcoin halving event scheduled for April 2024. Additionally, the approval possibility of a Bitcoin ETF just before the SEC's first deadline on January 10 could serve as a catalyst for Bitcoin. This was hinted at by recent reports of ETF approvals that swiftly propelled BTC up by 10%. This means that if the Fed decides to maintain high-interest rates, it may exert downward pressure on Gold prices over time, but Bitcoin could still maintain its upward momentum based on other catalysts. Based on Forbes' report, markets and policymakers expect interest rates to only decrease by late 2024. Geopolitics and policies also influence the price movements of both assets, making the relationship more complex. However, based on predictions surrounding the Fed's policy decisions and catalysts such as ETF approvals and the potential halving-induced price surge, Bitcoin might gradually start to outperform Gold in the coming year.
BITSTAMP:BTCUSD
by Gwen_Humuna
1
"Bitcoin Seeks SEC Decision Support"Bitcoin, trading at $28,538 at the time of writing, grabbed headlines on Monday due to a spike caused by fake reports. The cryptocurrency surged over 10% before dropping to $28,500, triggering a $86 million short-selling liquidation. Despite the truth emerging, the ETF saga continues. The Securities and Exchange Commission (SEC) is set to announce its decision regarding Fidelity, VanEck, and WisdomTree's spot ETF registrations on October 17 (today). According to Bloomberg ETF analyst Eric Balchunas, approval might be delayed until January 2024. Even in correction, Bitcoin may dip to $27,418, maintaining its leading position in the uptrend. However, losing this support, along with the 50, 100, and 200-day Exponential Moving Averages (EMAs), could invalidate the bullish case, pushing the cryptocurrency below $27,000 and towards $26,483. Stay tuned for updates on Bitcoin's evolving situation.
BITSTAMP:BTCUSD
by Gwen_Humuna
1
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
⚠️Bitcoin will Go Down Again⏰(1-Hour)⏰⚠️👋Hi everyone, I hope that you have a great weekend.🥳 🌊It seems that the corrective structure of Bitcoin continues so that the Wave A had an Expanding Leading Diagonal structure, and in general, it seems that the corrective structure will be a Zigzag type(ABC/5-3-5) . 📚It is better to know that generally, on Saturdays and Sundays , Volume Trading is low , so there is a high probability that Bitcoin will move in the form of Range in the next two days and will make its main move at the beginning of next week. 💡Also, we can see Regular Divergence(RD-) between two consecutive peaks. 🔔I expect Bitcoin to eventually break back below the 🟢 Support zone($27,920-$27,800) 🟢 and once again attack the 🟢 Heavy Support zone($27,600-$27,300) 🟢 and the lower line of the Ascending Channel . ❗️ Note ❗️: If BTC can break the 🔴 Heavy Resistance zone($28,440-$28,060) 🔴, the scenario will change. -------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Spot Bitcoin ETFs Could Send BTC Skyrocketing by Over 3,200%, Says InvestAnswers Host. Bitcoin miners Marathon, Riot, CleanSpark increase BTC output in September. Hong Kong crypto VC opens $100M fund for Asian blockchain startups. Robert F. Kennedy Jr. Pledges to Protect Bitcoin When President. 🌐➖ Negative News ➖🌐: JPEX converts user stablecoins to native token without notice: Report. Ledger lays off 12% of staff, citing ‘macroeconomic headwinds’. Binance Losing Market Dominance at Rapid Pace. Dark Side Of Crypto: $7 Billion Laundered Across Chains, According To Elliptic. -------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
79
Bitcoin could dive soonAfter the reversal from 25k and the reach of my target at 28.500, Bitcoin started to consolidate. Friday we had a new attempt to reconquer resistance and bulls failed again and BtcUsd started to fall again. At the time of writing the price sits on confluence support, but the structure is not bullish at all and we could witness a break down In such an instance, the first target for bears is 25k horizontal support, but, in the longer-term 21k is not out of the question. I'm bearish on BTC as long as the price is under 28.500
BITSTAMP:BTCUSDShort
by Mihai_Iacob
9
BTC 4HR Analysis - Short Opportunity Right Around the CornerBTC has failed three times in its attempt to ascend to the top of the bull channel with three-pin bar bear candles closing on or near their lows. It's been a slow bleed to the downside ever since last Friday. We are nearing the 200EMA on the 4HR and should expect some support here. A good short entry may be at the end of the next bull bar or two if you're not already in a short. We should be looking for a breakout of the channel bottom with a bear bar closing on or near its low, followed by a retest of the channel resistance, and a confirmation bar to the downside. Such price action calls for a short back down to the bottom of this trading range we've been in since March of this year, which sets a target price of $25,000. Trade wisely and let us know what you think in the comment section below!
INDEX:BTCUSDShort
by TraderEngineering
$BTC's Key Resistance Trendline for This WeekBTC has been very bullish since late September and early October, but has reached strong resistance at $28k. The orange trendline is a key price target where BTC bulls and bears are struggling to gain control over this price level. The trendline acted as support for a few hours before ultimately breaking below, and is currently acting as short-term resistance. For now BTC is trading in a range between the white support zone and the $28k resistance level. In order for BTC to climb up higher this orange trendline needs to be flipped into support. The markets have been affected by the new Israel Palestine conflict. Other key events this week are September PPI inflation data and Fed meeting minutes on Wednesday October 11. I think the markets are likely to have some sideways price action on Tuesday in anticipation of the new inflation and fed data.
COINBASE:BTCUSD
by realchartchamp
BTC Potential H&S PlayAs BTC was recently rejected from the 200 day SMA (~$28,000) as well as the 0.5 Fib level (of rally June 16-23), the potential for Head & Shoulders pattern is coming into play. SPY is also testing lower trendline of it's rising wedge ("recession news" likely coming) and could capitulate, leading to further pressure on BTC. Just some Wine Wednesday speculation, but I wouldn't be surprised if we see another sharp leg down before the end of the year. Long term bull, but "Uptober" might be a bulltrap.
COINBASE:BTCUSDShort
by DougCatBounce
🚨Bitcoin will Go Down to support lines again🚨⏰(1-Hour)⏰✅Bitcoin reacts well to 🟡 Price Reversal Zone(PRZ) 🟡 and 🟣 Weekly Pivot Point 🟣. 🔔I expect Bitcoin to decline from the 🟡 Price Reversal Zone(PRZ) 🟡 to the support lines and 🟢Support zone($26,240-$26,000)🟢 again. -------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Ethereum futures ETFs could start trading next week — Bloomberg analyst. Crypto Exchange Kraken to Explore Stock Trading: Bloomberg. Gemini invests $24M for expansion in India. Shanghai publishes blockchain plan to support trade, metaverse, government affairs. 6th Swiss bank joins SDX crypto exchange. 🌐➖ Negative News ➖🌐: Bitcoin miner Marathon mines invalid block in failed ‘experiment’. Binance's CZ Could Face Criminal Charges: WSJ Binance fully exits Russia with sale to CommEX. Bitcoin Miner Selling Pressure Mounts as Hash Rate Peaks. -------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
100
Bitcoin Divergences Since 2023Although Bitcoin has been stagnant since the beginning of the year, it continues to give us signals for future movements. First of all, we need to say that Bitcoin adapted to the 50-day moving average very well in this process. An investor who trades only according to the moving average can make very successful profits. In this context, when we look at the moving average, we see that the Bitcoin price is currently based on the moving average. A Bitcoin that breaks the moving average resistance at $26600 in the daily time frame can start to run again. We will determine how far this race will be as follows; Bitcoin has been effectively diverging since the beginning of the year. During this period, there were 3 bear divergences, and the decreases as a result of this divergence were generally around 21%. On the contrary, it made a bullish divergence once and the increase was approximately 27%. After August, in the current period, we see another bull divergence. Therefore, if the increase from here is around 20% like the previous ones, the point we will reach will be $30k. Here we will observe the possibility of the head-and-shoulders formation that we mentioned in the previous report. However, for this divergence to work, we must first break the moving average.
INDEX:BTCUSD
by YavuzAkbay
BTC - H&S Pattern point $25K Short TermHi Traders, Investors and Speculators of Charts📈📉 The markets are trading in the red and weak price action on BTC indicates that sellers are dominating the short term, with a nasty Head and Shoulders pattern showing up in the 4h. Shorting Bitcoin can be tempting, especially when prices are actively moving. However, acting on impulse without a plan leads to reckless gambling more often than not. Savvy traders wait patiently for ideal opportunities with defined risk-reward ratios. Also, the risk-reward setup isn't ideal for a leveraged position right on BTCUSDT. BTC grabs attention when it moves, but plenty of other assets offer worthwhile trading opportunities. Expand your watchlist across stocks, forex, commodities, indexes, and more. Evaluate which markets are exhibiting solid technical setups right now. Don't feel pressured to trade BTC just because it's moving. Sometimes the best trade is no trade if conditions aren't ideal. There are other opportunities with better risk-reward setups than Bitcoin. _______________________ 📢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
BITFINEX:BTCUSDShort
by CryptoCheck-
28
Bitcoin to 21k confirmedFor the past couple of weeks, we've been playing with two scenario's for Bitcoin. The first one claims the bottom of the last daily cycle was at the last green arrow (17 August), and the top at 29 August. The second one challenged the first one by claiming the bottom was found at 11 September, meaning that the current cycle still had to find a top (which would be close to 32k). In my opinion, the first scenario has been confirmed when the price failed to break the resistance line, creating a failed rally. The price has now returned back to support. The more a support line gets hit, the weaker it becomes. We're now at day 39 of the daily cycle. This means that we're nearing the end of the cycle. I believe that it will end in a volitle move to the downside.
COINBASE:BTCUSDShort
by FetchTeam
2