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#BTC will break this resistance or we will see a pullback?#BTC UPDATE On 12H, BTC is about to break out of a lengthy falling wedge. The MA 100 and the Ichimoku cloud are both providing resistance to the descending wedge. A firm breakout of the falling wedge would indicate a significant bullish rally in the market at this time, when the price has retested above the horizontal support. Let's understand deeply Bitcoin Mining Profitability Analysis: Trends and Forecasts for 2023 Bitcoin miners' revenues have shown steady growth since the year's start, peaking on May 8 at $41.7 million. This growth aligns with an uptrend in key Bitcoin network metrics. The BTC Miner Sentiment metric, considering the network's average hash rate, difficulty, mined blocks, and block rewards, also displays a consistent rise. This growth indicates a strengthening and stabilizing Bitcoin network. The hash rate and network difficulty directly relate to Bitcoin's security and mining challenge, respectively. The number of mined blocks and block rewards influence miners' earnings. However, the expected halving of Bitcoin block reward in 2024 could impact these earnings. Forecasts suggest continued growth in miners' revenues and network resilience in the short term, though the upcoming halving could shift this trend. Regardless, Bitcoin's core network metrics reaffirm its strength and resilience, highlighting Bitcoin's role as a leading cryptocurrency and its long-term viability. In conclusion, the analysis of Bitcoin network metrics reaffirms Bitcoin's leadership and resilience in the cryptocurrency market. With sound risk management, miners can continue to secure earnings, providing investors confidence in Bitcoin's enduring stability. This piece is not intended to be financial advice. Before making an investing choice, always do your own research and speak with a qualified advisor. For more Quality Charts Analysis, follow us. I'm grateful.
Long
by CRYPTOMOJO_TA
8
BITCOIN gain after correction to the downside ❌🧨Hello 🐋 based on the chart, the price is close to the descending channel resistance, resistance area and breakout of support to the downside completed 📖💡 for any other huge pump, we need more correction to the downside 💡📖 if the breakout of the first support area (25K) to the downside won't happen, we can see more gain from 25k 💡📖 but if breakout of the lower support zone(25k) be completed, we can see more correction to the downside at least close to 23k area and see more gain from 23k level 📖💡 and range candlesticks to the upside and downside before any other sharp movement is logical 📖💡 👌 Notice: pay attention to the price on shortcut chart (located under the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
16
BITCOIN range market and with potential of correction ❌🧨Hello 🐋 based on the chart, the price stick in the range market cycle and it is temporary 💡📖 beside it is close to the descending channel resistance and resistance area and breakout of support to the downside happened 📖💡 for any other huge pump, we need more correction to the downside 💡📖 👌 Notice: pay attention to the price on shortcut chart (located under the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
20
BITCOIN range candlesticks and more correction ❌🧨Hello 🐋 based on the chart, the price stick in the range market cycle and it is temporary 💡📖 beside it is close to the descending channel resistance and resistance area and breakout of support to the downside happened 📖💡 for any other huge pump, we need more correction to the downside ❌🧨 👌 Notice: pay attention to the price on shortcut chart (located above the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
6
BTC: Keep going long, target 30K BTC has been running around 27K recently, although affected by the news, the market has ushered in a fall, but the support of 25.8K below is very obvious, personal advice, before the market has not fallen below 25.8K, always maintain a long idea, any decline is a better buying opportunity. Personal operation strategy: btc buy@27-27.2K tp: 28-29-30K Fifteen years of trading experience, trading signal accuracy rate is as high as 95%, I will share more trading signals to help you make profits!
Long
by DaveBrice_
4
BTC/USDT: Formed a falling wedge.BINANCE:BTCUSDT.P BINANCE:BTCUSDT.P Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! Alright folks, Let's take a quick look on CRYPTOCAP:BTC , There's a formed falling wedge on daily TF and I believe that this formation could lead the price to the lower levels. You might ask yourself why? Well, The reason is that the last formed DARVAS box at $29000 - $32000 and the historical weekly S/R zone formed around at $28800 are rejecting the price here and filled the potential with bearish momentum, So on High TF, There's a high chance for CRYPTOCAP:BTC to gets the ladder to the lower support at $24700. But the problem is that we can't locate a good entry for Our SHORT after the pattern breaks down (Breaking below the falling wedge). So, We'll head to lower Time-Frame charts for better understanding of the chart! Before that, Let's review our Factors on the current chart: - CRYPTOCAP:BTC has formed a falling wedge and it can lead the price to the lower levels. - If Price break below the pattern it won't be a tradeable movement, Cause it's going to be a neutral movement towards $24700. On other hand, For those who are looking for opportunities: - If CRYPTOCAP:BTC breaks above $28300, We'll have the chance to enter LONG towards $32000 if with a hold above the marked S/R line! - If the price rejects below $24700 on daily TF, Then it's more likely for CRYPTOCAP:BTC to dive to the lower supports at $22850, $21650 and $20450. Let's take a quick look on the 4H's chart too 😉 As you can see, There're two potential Price voids which are solidly made by liquidity candles (Explained it as on TV account). So, As CRYPTOCAP:BTC gets the rejection from the higher order-block, I would like to set my eyes on the lower support at $26500, If CRYPTOCAP:BTC lose the support there, The it'll be likely for Price void to complete the pattern (Dive to $25300 with liquidity candles). Also, There'll be more rejection if CRYPTOCAP:BTC break below the support zone at $24250, In that case; Aside of Price void formation, There'll be high chance for CRYPTOCAP:BTC to reach $18K and $15K again! (Even lower if I want to be clear). But, On other hand, If CRYPTOCAP:BTC breaks above the S/R zone located at $28300, As I said on High TF chart, Then there'll be a chance for bulls to show the growth towards $30200 one more time and test the resistances till $32000. Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
Short
by Helical_Trades
5
BITCOIN close to channel resistance and resistance area ❌🧨Hello 🐋 based on the chart, the price is close to the descending channel resistance and resistance area and breakout of support to the downside happened 📖💡 for any other huge pump, we need more correction to the downside 💡📖 if the breakout of the first support area (25K) to the downside won't happen, we can see more gain from 25k 💡📖 but if breakout of the lower support zone(25k) be completed, we can see more correction to the downside at least close to 23k area and see more gain from 23k level 📖💡 range candlesticks to the upside and downside before any other sharp movement is logical 📖💡 👌 Notice: pay attention to the price on shortcut chart (located under the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
15
Bitcoin StrugglingHello traders, here is my view for btc at the moment : Bitcoin was in bearish move since May 5th with increasing volume + open interest and convergence with RSI momentum in daily timeframe, this is a confirmation for strong bearish move. What I expect : BTC weekly closed below 26900 next stop is 25k area BTC weekly closed above 27250 next resistance is 28k area But BTC would not go above 29k IMO since there is a strong channel resistance. I personally bearish for BTC since the abc correction target is on 25k area which is psychological number + fibonacci retrace confluences.
Short
by PakRT
BITCOIN range and correction before more gain 📖💡Hello 🐋 based on the chart, the price is close to the descending channel resistance and resistance area and breakout of support to the downside happened 📖💡 for any other huge pump, we need more correction to the downside 💡📖 if the breakout of the first support area (25K) to the downside won't happen, we can see more gain from 25k 💡📖 but if breakout of the lower support zone(25k) be completed, we can see more correction to the downside at least close to 23k area and see more gain from 23k level 📖💡 range candlesticks to the upside and downside before any other sharp movement is logical 📖💡 👌 Notice: pay attention to the price on shortcut chart (located under the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
by MadWhale
4
Opportunity to do long BTC/USDTToday, Bitcoin continues to maintain a narrow volatile market. Judging from the structural trend, Bitcoin maintains a volatile upward trend. Recently, the K-line has appeared many times, announcing that the short-term decline is basically over. , Then the next step may be to go long at a low level.So in short-term trading, we can execute according to the following trading rhythm. 1.At present, the short-term support focuses on the position of 28600-28800, and the support area can consider going long BTC/USDT in small batches. 2.Further support is at the position of 28000-28200, and the support area is long BTC/USDT. 3.The pressure carried above is on the 29000-29200 line. If the resistance area can be broken through strongly, the increase is expected to continue, that is, the 29800-30000 position. The above are the key areas of BTC that need to be paid attention to in the short term and the general trading rhythm, and I will announce the more detailed trading rhythm and entry position in my channel.If you want to grasp the detailed trading rhythm and master accurate trading signals, you can enter my channel.
Long
by Short-term-king