BTCUSDT - the two most likely scenariosHello! The downward movement I predicted one month ago () has taken place. Then I expect one of two scenarios: Fast scenario (A): long-term positions will be formed over the next weeks - two months in the range of 17,200 - 19,700 and a new upward movement will begin in April-May of this year. Scenario (B) is longer and deeper. Long-term positions will form in the range of 15,000 - 18,300 and a new uptrend will begin in the second half of summer - early autumn of this year. There are other scenarios, the probability of which I consider lower than these two. What are your thoughts?
Btcusdtrade
BTCUSDT to head up for next resistance level around 22060As expected in the last post, price hit the daily support level. Now we expect a bounce from here. The price has a higher probability to reach to the next 4h resistance 1 zone around 22060. The rough path it may follow has been depicted on the chart.
BTC:Wait for the turning point
Bitcoin is currently in its third consecutive week of decline and has fallen below the 22,000 support level. Given Federal Reserve Chairman Powell's suggestion that interest rates are likely to continue to rise in the foreseeable future, Bitcoin's price has broken below its previous resistance and hit a low of 21,598 US dollars.
As the semi-annual monetary policy statement continues to affect market sentiment, both fundamental and technical factors have contributed to the price trend of Bitcoin. Higher interest rates have a negative impact on risk assets, including major cryptocurrencies, because holding cryptocurrencies does not generate interest income.
As the commodity channel index (CCI) falls into negative territory, technical indicators suggest that Bitcoin may already be oversold. However, as Bitcoin's price lingers around the next psychological support level of 22,000, breaking below this level could further tilt the price downward. The 21,376 US dollar support level from February lows could become the next support level, but it may also be a new turning point. Nevertheless, it must be admitted that breaking this level could bring market attention back to the 20,000 US dollar level. Therefore, it is advisable to maintain a light position in trading.
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The characteristics and advantages and disadvantages of BitcoinCurrency Features:
Decentralization: Bitcoin is the first distributed virtual currency that is entirely user-driven, without the presence of any central bank. Decentralization ensures the security and freedom of Bitcoin.
Global circulation: Bitcoin can be managed on any computer connected to the Internet. Anyone, anywhere in the world, can mine, purchase, sell, or receive Bitcoin.
Exclusive ownership: Controlling Bitcoin requires a private key, which can be isolated and stored on any storage medium. No one can access it except the user.
Low transaction fees: Bitcoin can be sent out for free, but a transaction fee of about 1 bit cent will be charged for each transaction to ensure faster execution.
No hidden costs: As a means of payment from A to B, Bitcoin does not have complex limits and procedures. Payment can be made as long as the recipient's Bitcoin address is known.
Cross-platform mining: Users can explore the computing power of different hardware on various platforms.
Advantages:
1.Complete decentralization with no issuing agency, and therefore it is impossible to manipulate the issuance of Bitcoin. Its issuance and circulation are achieved through open-source P2P algorithms.
2.Anonymity, tax exemption, and unregulated.
3.Robustness. Bitcoin relies entirely on P2P networks with no issuing center, making it immune to external shutdown. Bitcoin prices may fluctuate and crash, and many governments may declare it illegal, but Bitcoin and its massive P2P network will not disappear.
4.Borderless and cross-border. In cross-border remittances, funds go through layers of foreign exchange control institutions, and transaction records are recorded by multiple parties. However, if Bitcoin is used for transactions, one can directly input the digital address, click the mouse, wait for the P2P network to confirm the transaction, and a large amount of funds will be transferred. There is no need to go through any control institution, nor will any cross-border transaction records be left behind.
5.Difficulty for copycats to survive. Since the Bitcoin algorithm is completely open-source, anyone can download the source code, modify some parameters, and recompile it to create a new P2P currency. However, these copycat currencies are fragile and susceptible to 51% attacks. Anyone who controls 51% of the computing power of a P2P currency network can manipulate transactions and currency values, dealing a devastating blow to the P2P currency. Many copycat currencies die in this stage. The Bitcoin network is robust enough, and the CPU/GPU required to control 51% of the computing power of the Bitcoin network will be astronomical.
Disadvantages of Bitcoin
1.Fragility of trading platforms. While the Bitcoin network is robust, Bitcoin trading platforms are fragile. These platforms are typically websites, which are susceptible to hacking attacks or closure by regulatory authorities.
2.Long transaction confirmation times. When installing a Bitcoin wallet for the first time, it can take a significant amount of time to download historical transaction data blocks. Additionally, when transacting with Bitcoin, some time is needed to confirm the accuracy of the data by interacting with the peer-to-peer network, and the transaction is only considered complete after being confirmed by the entire network.
3.Extreme price volatility. Due to the involvement of numerous speculators, the exchange rate between Bitcoin and fiat currencies is highly volatile, making Bitcoin more suitable for speculation than anonymous transactions.
4.Lack of understanding by the general public, and resistance from traditional finance professionals. While active internet users understand the principles of peer-to-peer networks and recognize that Bitcoin cannot be manipulated or controlled artificially, the general public does not understand it, and many people cannot even distinguish between Bitcoin and Q coins. While the absence of an issuing authority is a benefit of Bitcoin, traditional finance professionals see such a currency as worthless.
Analysis of Bitcoin price / Altcoins /BTC.D and USDT.D dominanceThis trading week may be relatively calm.
Continuing the global idea published last week, we assume that this week will be a sideways movement to the right for Bitcoin price in the range of $22-23k.
$23,000 is a critical level, and if buyers fail to secure the price of BTC above this mark during the week, further decline is inevitable.
The first targets from below are the $20726-21026 trading range for BTCUSDT price.
In our opinion, this trading week can be used for two purposes:
1. Exit from altcoin longs at more favorable prices than they are now
2. Search for potential entry points for shorts. Entering a short can be both for the purpose of a full-fledged trade and for the purpose of hedging your current long positions.
The BTC.D chart shows that Bitcoin's dominance has all the prerequisites for continued growth
USDT.D chart shows that the dominance of stablecoin has a growth potential of +15-20%
Our interpretation of the information from these charts:
"In the worst-case scenario, which we should prepare ourselves for, crypto community members will be moving out of crypto assets to stablecoins. At the same time, the price of BTC may fall much less than the price of other altcoins in %%, as the dominance of BTC will grow. We consider the chance of a -25-50% drop in the prices of most altcoins by the end of March to be quite high."
We also recall that starting from 10.03.2023, the US macroeconomic indicators, which now strongly control "the move direction" of the global financial markets, will begin to be announced in a cascade. There will also be important crypto options expirations at the end of the month.
But we will analyze all this in the next idea for BTCUSD
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BTCUSDT heading for resistance around 23633 again.As mentioned in the previous post, the price is experiencing a pullback from the 4h resistance zone. Now lets see where the price might from this pullback. However that was more of a general idea and this one is from day trade perspective. So let us stick to the smaller timeframe. It seems price will head again to the 4h resistance around 23633.
BTCUSD ( High Probability BUY Setup SOON )* Here we can see clearly from our analysis if BTCUSD don't break our support trend line, we're going to be looking for BUY Setups in coming days & weeks,
* If we see a down trend & it breaks our support trend line, we believe it's going to be forming Inverse Head & Shoulder Reversal Pattern ( VvV ) before the big BULL run for BTCUSD this Summer,
* As for us we won't be looking to SELL BTCUSD this coming days or weeks, instead we'll be waiting for the BULL run on our favourite Crypto Currency to trade,
* We're using H4 time frame for a clearer view of our analysis, hence we can't predict the duration of our analysis to occur on the charts,
* Keep a close eye on Crypto Currency King,
* Happy pip hunting traders,
* FX KILLA.
[Watch] MARA versus Bitcoin 0️⃣9️⃣| Bitcoin and MARA Levels Lovely evening Team NASDAQ:MARA
In this new video, I go over the 20/21/200 EMAs I have on Marathon Digital Holdings, and I record a new video every day so you know I am here. It does not matter what the AMEX:SPY is doing. I believe in this opportunity not only based on technicals but also the fundamental value of this opportunity.
Marathon offers a more suitable trading and investing opportunity to all investors worldwide, especially if you believe in Bitcoin.
Instead of finding 24,000$, you can start with 500$ or 1,000$.
That to me is one of the key benefits of trading this Bitcoin sympathy play called NASDAQ:MARA
COINBASE:BTCUSD following Hawkeye Traders Heatmap signals the opportunity to see Bitcoin trading back close and above the 32,000 figure against the US dollar, which, like it or not, is bullish for stocks.
Trade smart and Trade to Win!
Talk to you tomorrow,
J.R. Jaén
Risk Disclaimer
1️⃣Past Performance is not indicative of any future performance.
2️⃣Trading and Investing are risky. Only trade and invest with resources and capital; you can afford to lose, and it will not change your lifestyle or family situation if you do not make the returns you wanted or if things go wrong and you lose everything.
BTCUSDT fell to support and the price may aim for 4h resistancePrice pushed above the 4h resistance 1 zone several times but could not hold there and always got pushed back. The last push to the upside was strong but met with the same fate as other attempts. The price is bouncing again from 4h support 1 zone. It shall again hit the 4h resistance 1 zone.
BTCUSDT likely to hit previous 4h support zoneBTCUSDT clearly got rejected from the 4h resistance 2 zone marked on the chart. Currently it is struggling to hold the 4h resistance 1 zone from where it broke out and attempted to break next resistance zone. The price will momentarily bounce here as current zone marked as 4h resistance 1 zone will act as a support.However, a next hit to this zone will let the price flow towards the next 4h support area.
BTCUSD 5mins scalping long entryHello traders,
This is my second post today. Now we will look at COINBASE:BTCUSD . After waiting for a long time today, I finally missed the 5mins shorting opportunity as I was away from the system. But it met my profit target as I expected. But even if that opportunity is gone, now there is another opportunity to take a long entry from 24079.50 to 24291.00 . If this entry is suitable for you then analyze and get down to the long trade.
Trade according to your qualifications
Thanks & Regards,
Alpha Trading Station
Disclaimer: This view is for educational purpose only & any stock mentioned here should not be taken as a trading/investing advice. We may or may not have position in the stocks mentioned here. Please consult your financial advisor before investing. Because Price is the "King of Market".
BTCUSDT: 28600$ ~ 32000$Hello friends. Looking at the Bitcoin chart, we can see that in an upward trend to reach its monthly base target for its liquidity, it seems that the market giants made this quick move to sell their coins to retailers again. My expectation is path one to $28,600 and I consider it more likely than path two. The target was 2:32,000 thousand, but after that, the market continues to fall.
👀The first target is marked with purple color. and target up to $28,600
👀The second goal is shown with a pink dashed line: $32,000