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History of Bitcoin: The Underdog That Rewired FinanceBitcoin, a phenomenon that emerged at the onset of the 2008 financial crisis, has changed the way we think about money. To celebrate the token’s $73,000 milestone, we trace its origin story and look ahead into the future. To infinity… and beyond? Table of Contents A Financial Product Too Big to Ignore Born in 2008 as the World’s First Cryptocurrency The Very Early Days of Trading on Exchanges The Volatile Phenomenon That Sparked a Change in Finance A Place to Find Value in the Face of a Global Pandemic Cryptocurrency Trading Lands on Wall Street What’s Coming Next for BTC Price as We Move Deeper into 2024? Bitcoin for Your Thoughts? 📍 A Financial Product Too Big to Ignore 📍 Bitcoin’s story is the story of an underdog that pushed through volatility and disbelief, but also dashed forward riding on hope and enthusiasm. Bitcoin ( BTC/USD ), the world’s largest cryptocurrency, has so far managed to survive and overcome each one of its many pitfalls and obstacles thanks to its novelty, mystery, and investment appeal. Not only that, but the orange coin has progressed so remarkably, it has risen to rival the valuation of the world’s biggest companies. As we’re about to close the first-quarter chapter of 2024, we take a closer look at what has fueled Bitcoin’s price to record levels about $73,000 a pop. To celebrate the token’s historical milestone of $73,000 , we go back to its creation, tracing major development milestones. From wiping out billions of dollars from its valuation to logging stratospheric gains, Bitcoin’s history is nothing short of a miracle. Today, Bitcoin boasts a valuation of more than $1.4 trillion. In other words, more than double as electric carmaker Tesla (ticker: TSLA ), founded by the uber-rich eccentric engineer Elon Musk. With great power, comes great interest from Wall Street. A bunch of spot Bitcoin ETFs are now strutting among asset managers, finding their way to ordinary (and some degen) investors and money-spinning professionals alike. 📍 Born in 2008 as the World’s First Cryptocurrency 📍 The history of Bitcoin is relatively short. But it can sting. Because we were all playing games or being 8 years old instead of buying Bitcoin at 4 cents. Back in 2008, the financial system crumbled under the pressure of a global crisis. A collapse in the housing market led to millions of homeowners not being able to cover their mortgage payments. About that time, an individual—or a group of people—called Satoshi Nakamoto, concluded the banking system was not reliable. A new asset class emerged—one that did not need the intervention of banks to function. Bitcoin, as it was called in the white paper released in November 2008 , was born. Essentially, Bitcoin represented a new type of money. An innovative software system that intended to rewire the worldwide financial system. Bitcoin sprouted to life as an open-source software running on a peer-to-peer network called blockchain. One way to think of Bitcoin is to see it as an electronic form of physical cash without gatekeepers such as banks. The participants in the decentralized network are responsible for the verification of transactions, and all transactions are visible for the public. 📍 The Very Early Days of Trading on Exchanges 📍 Once it was born, Bitcoin stayed confined to a small network of only a few computers (and the early adopter group of ultra-niche geeks). Then, mining Bitcoin was able to get you hundreds or even thousands of coins in a few days’ time due to the low level of computing power required. Safe to say, the first people to play around with Bitcoin had no idea the tiny orange-themed gig will turn into a fire-breathing $1.3 trillion dragon. Instead, the squad of core developers would try and make the network operate as smoothly as possible. Once this was achieved, Bitcoin hit its first exchange in 2010. The first Bitcoin to be transacted on an exchange was worth zero dollars. Then at the peak of 2010, one Bitcoin reached a record high of 39 cents. Since then, the price of Bitcoin has experienced a wild ride as millions of people have onboarded the crypto bandwagon. Hundreds of exchanges have opened and traders today reach daily volumes of tens of billions of dollars exchanged in Bitcoin. Bitcoin's mind-blowing price increase from its first steps through March 12, 2024 - Source: TradingView 📍 The Volatile Phenomenon That Sparked a Change in Finance 📍 It did not take much for Bitcoin to be noticed as a wonder of technology and a catalyst for change. Once it landed for trading on its first cryptocurrency exchanges, Bitcoin quickly gained popularity purely from an investment perspective. The first traders would buy and sell the token in a matter of hours only to realize a small profit and savor the rush of adrenaline. This same speculative behavior could still be found today even after the stratospheric gains that have made Bitcoin a heavyweight in terms of valuation. The price gyrations have crushed many traders and investors who were found unprepared to stomach the aggressive swings. Along the way, Bitcoin has endured over 17 selloffs of more than 30%. It has been through six declines of more than 60%, and four of more than 80%. Still, after all these spectacular drops, Bitcoin has clawed back its losses and returned stronger than ever. So strong, it crushed all doom-and gloom forecasters and permabears when it blasted through the $73,000 threshold in March of 2024. Not long before that, Bitcoin had a chance to prove its worth as a safe haven in troubled times. 📍 A Place to Find Value in the Face of a Global Pandemic 📍 It’s important to mention that the current record high in the price of Bitcoin arrived after BTC’s previous peak of $69,000 in November 2021. Back then, the coronavirus crisis, which hit in March 2020, turned out to be a key period of growth for crypto. The original digital currency served as a safe haven and a store of value—digital gold, if you like, or better—amid lingering uncertainty in the broad financial markets. In numbers, during the pandemic’s low point in March 2020, one Bitcoin was worth about $3,900. Presently, a single Bitcoin is up more than 1,700% from its coronavirus-fueled meltdown. The pandemic helped shift investor focus on the crypto market as participants sought to find pent-up value. The search has led to millions of Bitcoin proponents flocking to the digital asset. In practice, the interest to invest in Bitcoin has been so big, the top cop on Wall Street—the Securities and Exchange Commission—finally gave its nod. 📍 Cryptocurrency Trading Lands on Wall Street 📍 The big dogs on Wall Street welcomed the first Bitcoin-centric products to trade alongside stocks , bonds , and forex . More specifically, there are now eleven exchange-traded funds (ETFs) offering spot Bitcoin, or the real deal, unlike Bitcoin futures, which don’t hold genuine BTC. The step is a monumental milestone in Bitcoin’s path toward mainstream adoption and acceptance in the financial markets. The eleven Bitcoin ETFs , approved by the Securities and Exchange Commission, were greeted by investors with billions of dollars injected. Giant asset managers such as BlackRock and Fidelity are seeing overflowing demand for Bitcoin from both institutions and retail investors. The positive thing about these spot BTC ETFs is that they’re backed by the physical asset. Whenever inflows start to outpace liquidity, the asset manager needs to purchase new Bitcoin and add it to its reserves. The more the net inflow, the more it needs to buy BTC. And that drives prices higher. From inception in January to March 2024, BlackRock’s BTC ETF hit $10 billion—faster than any US ETF ever. 📍 What’s Coming Next for BTC Price as We Move Deeper into 2024? 📍 Looking ahead into 2024, there is no doubt that we are going to see new bouts of volatility. More than that, many are optimistic we will continue to see a string of fresh records in the price of Bitcoin. With this in mind, the risks will be there too. Both new and old, market participants need to know that price swings may be stomach-churning as the market adjusts to shifting moods in the rarefied air of $70,000. Buying at the top is scary. 📍 Bitcoin for Your Thoughts? 📍 How did you first get exposure to Bitcoin? When did you buy your first piece of the crypto and are you brave enough to buy again at the top? Let us know in the comments! Liked this article 🚀? Give us a follow to get notified for any future releases! With 💖, TradingView Team
INDEX:BTCUSDEducation
by TradingView
7
Bitcoin Update - 11/01/2024Look at the 0.618 fib level and previous around 48200. This will be a resistance zone for BTC. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
INDEX:BTCUSD
by rukshan2102
BTC - When in doubt; Zoom out!🔎Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 After breaking above the $70,000, BTC is heading towards the next potential round number at $80,000 How high can BTC climb? The marked red arrow represents a significant resistance and overbought zone as it marks the intersection of the upper red trendline and $80,000 round number. 🏹 Thus it would be a robust area to anticipate a potential reversal. Meanwhile, as long as the 70k holds, a continuation towards the 80k would be expected. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
6
BTC 📍 macro analysis ⏰ BULL 🚀🐂 RUN Hello 👋 it's me your RAJ 🙂 professional trader ✨ This idea 💡 is completely my own analysis to explain situation _&_ market conditions of BITCOIN 🪙 How this coin valid for long term 📌 including fud & news 🗞️ explained clearly 📌 #DYOR 📅 ....... BINANCE:BTCUSDT 👑 BITSTAMP:BTCUSD ........ 🌴 28TH - OCTOBER - 2024 / 10TH - FEBRUARY - 2025 🔝 $121236.10 🪙 🎯 ⚠️ >>> leading pressure stretch 💹 8-18TH - SEPTEMBER -2025 🤝 $175576.43 ❣🦩 ( 15-12-25 ) __________________________________________________________________________________________ 🪩 disclaimer : ▶️ TQ u for supporting 💚 follow idea 💡 get updates everytime ⏰ when I updated 📌 Note 👀 👉 keeping comments , reacting with emojis , pointing us is very easy to some people They think 💬 what they see 📌 that was knowledge 📌 We need to learn market in many ways and should get adopted with experience, TECHNICAL ANALYSIS won't help understanding market structure and understanding bull 🐂 and bear 🐻 is more important Economical conditions Fundamentals Technical News Sentiments Checking macro to micro having good plan and build it is very important ☺️ Some Times market easily turn suddenly bear // bull 🤣 even we need to catch 🫴 those movements is also very important ☺️ 💛 I hope i cleared my view 🙂 if any points if I miss I will add in update 📌 post Try to understand, try to learn - try to move with flexibility with market is important Have good day 😊 ---------------------------------------------------------------------------------------------------------------------------------------------------------- Let's discuss about buy zone 📌 🙄 Support 📌 $21480 - $23368 - $26800 - $29800 - $33690 Accumulation range was $20000k to $36000 below 📍 Distribution zone 📌 $80k to $175k ( IMO :-: $100k to $140k ) Resistance 📌 $80000 - $104600 - $120000 - $135000 - $146000 - $168000 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 Note 📌 understood every update and take decision ⚡ 90% chance there is no new low 🔅 90% chance max bull run will complete below $120K 90% chance BITSTAMP:BTCUSD will complete $80-100k wick $120k Everything thing 📌 will be explained as thread 🧵 how and why ✨ Start 🧵👉
BITSTAMP:BTCUSDLong
by raj5_7_5
2
🔥 Bitcoin Near All-Time High: What Does History Tell?In this analysis I want to take a look at Bitcoin's historical behaviour at the moment that it made new all-time highs (ATH's), and make a prediction based on those findings. As seen on the bottom two charts, Bitcoin has ALWAYS reversed substantially from the previous ATH's area of resistance (note: the area around the ATH functions as resistance, not the exact value). 2017: ~33% correction. 2020: ~17% correction. This time it remains to be seen how much we will reverse. Seeing that corrections (and pumps) become less extreme with time, it's likely that it will be less than 17%. In my view, the most likely scenario would be a reversal towards the first yellow area of support (1), which would be around 11% decline from 69k. The worst-case temporary reversal would be a fall towards the second area of support (2), around 25% decline. In the long-term I'm still bullish. However, we have to acknowledge that historical price action is against the bulls. On the other hand, this might be the last time we can buy BTC for these price for the next 1-2 years.
INDEX:BTCUSDLong
by FieryTrading
8
🌟📈 Weekly Chart Technical Analysis for QQQ! 📊💼Let's dive into the exciting world of QQQ and explore its weekly chart. Get ready for valuable insights and potential trading opportunities. 🚀📈 🔄 Cycle Analysis: With a cycle period of 20 weeks, QQQ has just embarked on a new cycle. This fresh cycle opens up intriguing possibilities and potential shifts in market dynamics. Let's unravel the future of QQQ! 🔄📆 📈 Key Level Breakout and Retest: In December 2023, QQQ successfully broke out of the key resistance level at 190.8, and we've witnessed a subsequent retest of this important level. This validates its significance and sets the stage for potential movements. Based on this, we anticipate QQQ to remain above the support level of 395.34 for the next 20 weeks. 💪📈🔐 💡📉 Retracement and Consolidation: Our analysis reveals the presence of MACD divergence on the weekly chart, along with a prolonged extension. Consequently, we expect a normal retracement back to the support level of 395.34, followed by a consolidation above this level for the majority of the next 20 weeks. This retracement and subsequent consolidation present interesting opportunities for traders to navigate. 💡🔄📉 🔄📊 Potential Impact on Strong Stocks: During the retracement phase of QQQ, it's worth noting that certain robust stocks with higher Beta values than QQQ may experience a noticeable drop, potentially retracing back to their respective support levels. This phenomenon can provide unique trading opportunities for those closely monitoring these stocks. Keep a watchful eye! 👀📈📉 Embrace the insights, seize the potential within QQQ's weekly chart, and consider the captivating opportunities it presents. Remember, trading carries risks, so always exercise caution and diligence. Let's make the most of these chances and aim for profitable investments! 💪💼💹 #QQQ #WeeklyChartAnalysis #SupportLevelRetracement #ConsolidationPhase #StrongStockOpportunities 📈🔍💱
NASDAQ:QQQ
by ICT_Trader_SB
🌟📈 Weekly Chart Technical Analysis for IWM! 📊💼Let's delve into the fascinating world of IWM and explore its weekly chart. Get ready for valuable insights and potential trading opportunities. 🚀📈 🔄 Cycle Analysis: By analyzing the cycles, we've identified a cycle period of 48 weeks for IWM. Interestingly, we've divided each 48-week cycle into three distinct parts, allowing us to pinpoint key moments within the market's trajectory. Let's dive into the current cycle! 🔄📆 📈 Uptrend at 1/3 of the Cycle: In this new cycle, IWM finds itself right at the 1/3 mark. It successfully broke out of the key resistance level at 190.8 back in December 2023, and this level has been retested, confirming its significance. As a result, we believe IWM is currently experiencing an uptrend. 💪📈 📉✅ Key Levels and Price Range: Based on our analysis, we anticipate that over the next 32 weeks, IWM will remain within a price range of 203.54 to 228.70. Notably, the upper end of this range, 228.70, is closely aligned with the high reached in November 2021. Additionally, there is a Supply Zone located at 235.50, making this area a crucial zone to monitor. 📉🎯🔍 🔄🔎 Retracement Entry Opportunities: For traders seeking a long entry, we recommend focusing on retracements within smaller timeframes, such as the H4 or daily chart. These retracements can provide favorable entry points with a potential profit of 12% and a risk-reward ratio of more than 2 to 1. This presents an enticing opportunity for mid-term investments. 🔄💼💰 📚🔍 Conduct Your Own Study: As always, it's crucial to emphasize the importance of conducting your own research and analysis before making any investment decisions. Stay informed, stay vigilant, and make well-informed choices based on a comprehensive understanding of the market. Knowledge is power! 📚💡💼 Embrace the insights, seize the potential within IWM's weekly chart, and consider the captivating opportunities it presents. Remember, trading carries risks, so always exercise caution and diligence. Let's make the most of these chances and aim for profitable investments! 💪💼💹 #IWM #WeeklyChartAnalysis #UptrendForecast #RetracementEntryOpportunity #MidTermInvestment 📈🔍💱
AMEX:IWMLong
by ICT_Trader_SB
🔥 Bitcoin WARNING: RSI Signals 30-40% DUMP 🚨In this analysis I want tot take a look at Bitcoin's historical price action during periods of a strongly overbought (>84) RSI. Before diving in I want to underline that my overall bias is still bullish and that this analysis is merely a warning based on historical RSI values. As seen on the chart, the RSI has not often reached above 84 points over the last 8 years. Every time that it did during the last two bull-cycles, it signaled a 30-40 percent dump. Keep in mind that the market can still grow for several weeks before the dump could commence. Since we're now trading at an RSI of almost 88, we're in a danger zone. The strongly overbought RSI, combined with the massive resistance at 69.000 makes me believe that there's a serious risk of an incoming dump over the next weeks. Furthermore, this dump could be exacerbated by the huge amounts of open interest (leverage) in the market currently. My overall market view stays bullish. 2024 and 2025 are going to be great years for BTC, but that doesn't mean that we will see a correction here and there. On the plus side, these historical dumps have nearly always been mid-bull cycle dumps which didn't last more than a month. New highs have always followed, apart from de December 2017 dump. The statistics are favourable. It's not a time to panic. It's a time to be careful. Happy to hear your thoughts in the comments 🙏
INDEX:BTCUSD
by FieryTrading
32
Bitcoin - A failed head and shoulders pattern?Schwager (1996) suggests that profitability from failed patterns is often greater than from correct patterns. At the moment, #bitcoin is in the process of ratifying a failed head and shoulders pattern. With the daily candle already above this 45k range, it would imply a move further to the upside. Immediate upside is 48-49k while a larger move would put us close to the ATH's that Bitcoin was at previously. A couple other things we can notice is RSI has broken out of it's downward trend and is showing strength to the upside, MACD is also turning positive. the recent #BTC ETF will also give Bitcoin more inflow and exposure into the space giving more upside potential. That all being said - This could just be the formation of the right shoulder that has taken longer to form. If CRYPTOCAP:BTC falls back below 45k and into the 43k we would need to reassess the market and see what is going on. Cheers, TCD
Long
by ChartDudes
🔥 Bitcoin's New All-Time High Dump: Temporary Or Not?Two days ago I made an analysis on my expectation of Bitcoin's short-term price action, based on historical price action at the moment a new all-time high has been made. My most likely scenario was a new ATH, followed by a dump towards the first yellow area of support. This has now occured, together with an hourly oversold reading on the RSI. Experienced traders spotted an opportunity, and BTC rose over 13% in a matter of hours. For now, my most likely scenario would be 1-2 weeks of consolidation between 60k and 69k. It seems like a small area on the chart, but it's still 15%. Alts could dump as much as 30% during a retest of the bottom yellow support, so be careful with leverage. Keep in mind that a move towards the second support is still in the cards. Not very likely, but it's still a risk. Consequentially it would be an amazing area for long-term entries. It's now a matter of exhausting the bears until there are no more sellers left. Once there are no more sellers left I expect a strong break out with high volume, which will be the start of a new era of price discovery.
INDEX:BTCUSDLong
by FieryTrading
5
SPY S&P 500 ETF Potential Retracement ! If you haven`t sold AAPL after after Buffett trimmed his position in it: Then you need to know that at 12.90%, Apple is the Nasdaq Composite's largest stock by weighting, followed closely by Microsoft at 12.14%. Even though Apple has diversified its product line with Watch, AirPods, and services, the iPhone is still responsible for 52% of its revenue. Today, we found out that APPLE'S CHINA IPHONE SALES TUMBLE 24%, LOSING OUT TO HUAWEI. A downturn in AAPL could have a cascading effect on the overall market!
AMEX:SPYShort
by TopgOptions
1
Bitcoin Hits New Highs on Strong Fundamentals and DemandLatest Report on Bitcoin and Crypto Market Developments Our analysts have closely monitored the immense price action and developments driving performance in the cryptocurrency sector. This report aims to accurately outline relevant factors supporting Bitcoin's ongoing uptrend and the overall bullish sentiment across digital assets. Bitcoin posted a series of new all-time highs versus several global currencies including the Japanese yen, Malaysian ringgit, and others, extending its dominance in cross-border value transfers. Flow data shows exchange inflows reaching November 2021 peaks, underlining robust demand. Among recent announcements, Edward Snowden predicted a country will soon confirm purchasing Bitcoin to back reserves modernly without disclosure. Binance Labs funded a new staking protocol supporting network rewards fromBTC holdings. In the US, Bitcoin ETFs witnessed record $680 million weekly inflows. The BVL exchange in Peru approved crypto ETFs while BlackRock prepares a similar launch in Brazil. South Korean regulators discuss potential approval moves. Trend-defining analysis from Glassnode and Bitwise contends Bitcoin remains in a prolonged bull phase fueled by non-believers closing short positions. Transaction activity and exchange volumes reached November 2021 levels, exposing dwindling supply against persistent buying pressure. MicroStrategy doubled down on its seven-figure BTC bet by signaling staying power. Executives from Blockstream and Bitwise forecast six-figure prices over coming years. Popular predictions cite $100,000 before halving events that could stimulate renewed fomo. Technical metrics mirroring the last rally to near $70,000 reflect an ongoing positive cycle. Short squeezes inherently fuel upside breaks while traders betting against Bitcoin may exit en masse, unleashing buying waves. OTC desks face acute scarcity amid aggressive accumulation. Macro considerations such as inflation hedging also strengthen the long-term investment thesis. ETF permission across emerging economies broadens accessibility. With persistent institutional capital flows and mainstream adoption tools, Bitcoin retains a constructive narrative despite volatility. Our analysis concludes Bitcoin remains on an uptrend against a backdrop of widespread institutional adoption. Let us know if you require any expansion on specifics covered. We maintain a bullish outlook and will continue monitoring price components and on-chain activity closely for the next major move.
by ChartSavant
$BTC Futures showing different data vs SpotINTERESTING divergence happening at the moment with $BTC. #BTC Spot has RSI falling & sells beginning to pour in. #Bitcoin Futures has a strong RSI & some, light, selling. Wont comment on $ Flow today but will say that both paint slightly different pictures there as well. Weekly shows WHY this area will be tough. This area will not break easy. HOWEVER, IMO, what have we said? The more something hits the weaker that resistance gets. It'll likely break through. But when?
INDEX:BTCUSD
by ROYAL_OAK_INC
Comparing previous $BTC tops & current state of BitcoinCurrent charts (not shown here, this is a weekly chart, se profile for more info) CRYPTOCAP:BTC $ Flow is better captured on spot price. #BTC RSI is better captured on futures price. Weekly is interesting indeed! Both show: Cratering of $ flow as it goes higher, negative divergence. RSI is still OKAY. ------------------------------------------------------------------------ Let's compare the other 2 #Bitcoin tops: 1st top shows CRYPTOCAP:BTC RSI cratering. $ Flow took longer for futures to show a top but it was obvious on spot price. 2nd #BTC RSI is flat on both, it is healthy on its own accord, BUT is significantly lower than the previous top put in. $ Flow is seen lessening on both futures and spot action. Sell volume obvious on futures, no sign at all on spot. Continuation....... (current chart shown) #Bitcoin buy volume is exhausting. CRYPTOCAP:BTC $ Flow is weakening. This is way more obvious on the Spot chart. However, it did is reach normal peak highs. #BTC RSI is currently trading like the 2nd top, but it is stronger, reaching higher RSI number. Futures are identical to 1st top, but Spot is a little bit lower in comparison to 1st top. RSI is okay on both , healthy even. Shorts have been wiped out and it stands at a low amount at the moment. Warning signs but should retest highs at he least.
INDEX:BTCUSD
by ROYAL_OAK_INC
BITCOIN, Massive Broadening Wedge, Targets Active + ETF Volume.Hello There! Welcome to my new analysis of BITCOIN in the daily timeframe perspective. The current bull run is still holding on and BITCOIN does not back off and is printing one hew high after the other. This uptrend is backed by real events that support the bullish case such as the Bitcoin ETFs release which is the preliminary fundament of new and fresh volume moving into the whole cryptocurrency market. When considering the developing dynamics in my technical chart perspective now it has to be pointed out that BITCOIN since it bounced several times within the 50-EMA established the ability to form this gigantic broadening wedge formation. Recently BITCOIN formed the crucial breakout above the upper boundary of the formation above which it is now developing a main bullish triangle continuation formation. There is also a major wave count ongoing which is supporting the broadening wedge development as the major waves A and B already formed the fundament of the broadening wedge BITCOIN is now continuing to form the wave C simultaneously with the bullish expansion wave. What is also an important factor that is stabilizing the bullish trend here is the horizontal support marked in orange. Taking all these factors into consideration the most meaningful insight here is that BITCOIN now activated the main target zones with the initial target zone to be reached once the bullish continuation triangle has completed with the continued extensive bullish breakouts. Once the initial target zone has been reached and the bullish BTC ETF volume is holding on together with bullish technicals the final target zone will be reached. Thank you everybody for watching my idea about BITCOIN! Support is greatly appreciated. VP
INDEX:BTCUSD
by VincePrince
12
ETH RANGES Ethereum being the second biggest coin in market cap has a very important role to play in the crypto ecosystem, however, we haven't heard to much talk or news about the coin as other L1's have stolen the spotlight. SOLANA, INJECTIVE, SUI etc have all grown in popularity and have taken a lot of the focus away from the biggest altcoin by market cap. In the chart there are clear ranges for which I believe are worth trading. Range 1 & Range 2 are the HTF key levels, bouncing between the High, low and the midpoint of the range . Currently we have seen price be rejected from the Range 2 Midpoint the support comes from the $2130 level in the HTF but the red supporting trendline on the lower timeframes. For now the chop has kept ETH within those areas and until proven otherwise should be traded as such. A case for the bulls on Ethereum : - ETF narrative can be a powerful mover as has already been demonstrated with the BTC move all of last year. Now that the Ethereum ETF awaits approval we could see a similar rally towards the decision date at the end of May this year . It's important to note that this date is post BTC Halving event and historically a rally follows this event throughout the market. - Deflationary tokenomics lend themselves to a bullish asset for investors because of simple supply and demand dynamics. With the inevitable increase in retail exposure that comes with a Bullrun in addition to BlackRock and other ETF providers buying large sums of the crypto to offer to customers. Naturally this increases price as demand is up, now couple that with a deflationary circulating supply and you have a very bullish scenario where a very sought after asset is becoming increasingly rarer, perfect storm for the bulls. A case for the bears: - OLD NEWS... I would say that in crypto being the new kid on the block is very important for increasing the price of the token. We have seen in the last year many new L1's be released and have taken the spotlight away from older more established coins which can be disheartening for anyone that's holding ETH or looking to add ETH to their portfolio. INJECTIVE, SUI, TIA to name a few often outperform the larger cap coins that are older as the potential to grow is much larger. Ethereum already has a market cap of $280B The likelihood of 5x, 10x or 20x gains are much lower than a smaller cap coin offering a similar service with newer technology. So for this reason I think the well established nature can work against Ethereum but it is worth saying that because of this it is less risky to invest in a larger cap coin when compared to smaller caps. I'm keeping a keen eye on ETH both against stables and BTC pairs but will avoid getting drawn into the choppy price action. Only taken action at the key levels shown on the chart.
BINANCE:ETHUSD
by ProR35
How or why did you start trading?I've spent nearly 10 years on Tradingview. But after doing this since the age of 15; it's been interesting and fun (don't worry, this is not me retiring) I just wanted to share some of the key points, the ups and the downs, the challenges and the rewards. For those of you who don't follow or know me, my trading started after a school trip from Wales (in the UK) to New York's Wall Street. We went to learn about the Wall Street crash and visited the exchange. Needless to say I was hooked! My early years of trading, I would take the pushbike to the bank and trade stocks from the Times newspaper, it was always over the phone via the bank broker, I had to do this via my mother as I wasn't old enough for a stock account through my bank. These were large cap stocks, things like Vodaphone, Cadbury's and ones most people could identify with. These were never big trades just the experience I guess. How I funded this was, I dropped out of school not long after that trip to New York, no qualifications, just the idea of being a trader and taking over my father's engineering company. I would work as an engineer, still live with my parents, and buy stocks. It wasn't until a few years later I got into penny stocks. I guess for me - seeing the Wolf of Wall Street movie, it was a bit like that: you would buy stocks for fractions of a penny and watch them pump. Some traded better than others but still had very little knowledge; trading wasn't as accessible as it is today. I guess looking back this was very similar to what I see in crypto today, especially with alt coins. about 5 years into the journey, I ended up getting into Forex where I guess I have stayed ever since. This was fast-paced compared to stocks and the markets being open 24 hours a day 5 days a week. I would take long term trades such as the difference between the interest rate of the New Zealand Dollar vs the Great British Pound for example. It just felt like free money. (those were the days). From there I also started trading Gold, Oil & SPX. Running in parallel, I ended up in the tech space; investing in cyber security around financial markets. I keep little souvenirs of the journey like this card from buying my first Ferrari. It reminds me of why it was interesting in the first place! I think you need this as a trader, I have written several articles here on Tradingview about the psychology and loneliness of being a trader. Two of my favourites are the Simpsons one and the other side of the trade. Doing things you wouldn't usually do is part of creating your inner trader. I was fortunate enough to get into Bitcoin early doors, right place, right time as they say. From 2012 onwards been educating, mentoring and advising people and what a journey that's been. I have met some great people along the way. This brings me back to the upside, downside and, of course, the psychology and emotions of trading. Trading can be a very lonely place to be if you have nobody to share the wins with in real-time; it's hard when you manage losses and keep them to yourself. Of course it's very, very rewarding when all is going to plan! I can't emphasise the importance of a community, it's actually one of the reasons for posting this post. With access to charts and brokers directly on your phone, it's an incredible change from the time I first started. But it can also bring a lot of hidden dangers, it's a unique type of lifestyle. I understand not everyone trades for a living, it's a hobby or a way to earn some extra money. But the ups and downs of this can have a strain on mental health. Fear and greed is a real thing, not just a sentiment indicator. We are human after all. It's so easy to fall into a false sense of security after a couple of nice wins. But it's even easier to go off the rails after a handful of losses. Some really cool factors for me when it comes to trading, would have to include doing one of the Tradingview shows with Stefan back last year www.tradingview.com and discussed the fact that a notebook I had made for my 11 year son had been published as a book. Never thought I would become an author after dropping out of school. Part of the reason I stream here and write educational posts is I love to keep the trading game live and current. Watching Bitcoin unfold and become institutional has been such a pleasure and amazing to watch it transition. It's been a great way to interact with people from all around the world. I guess the point is, the power of the internet and a platform like Tradingview; allows us to share such stories with the world. What I have learnt, is that new traders come to the market with a certain expectation. Often, people assume they need more indicators, more screens, more news and more instruments. What you realise over time, is you can make a living from a handful of instruments and a little bit of logic. I'll kick it off by saying what I don't like about trading is how lonely and isolated it can be. What I do like about it is the freedom it brings. I would love to hear your story, why you started trading, what you like or don't like about it and anything you feel like sharing! Anyways; I just wanted to share this little post and get some discussions going. Have a great weekend and I'll see you on the next stream. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
FX:XAUUSD
by Mayfair_Ventures
27
OIH: Keep Going! 👏OIH is on its way toward our green Target Zone (between $$321.09 and $339.97), nearing the last local high from the end of January. We expect the ETF to arrive in said Target Zone during the orange wave ii before the orange five-wave downward structure should continue, ultimately concluding below the support at $277.30 (but still above $250.69). Still, there is a 32% chance that the orange wave Alt.ii has already finished without reaching our Target Zone, which would be confirmed by the price dropping below $277.30 earlier.
AMEX:OIH
by MarketIntel
ETF Approval and Market TrendsMany have reached out with questions about the implications of the SEC's recent Bitcoin ETF approval and its potential impact on the market landscape. In response, I've decided to conduct a comprehensive analysis to shed light on these developments, aiming to offer clarity and insights into what lies ahead: What does the SEC's approval of Bitcoin ETFs signify for the market? The SEC's approval of Bitcoin ETFs is a transformative development for the crypto market, signaling a new level of acceptance and legitimacy for Bitcoin as an investable asset. This action by the SEC is indicative of a regulatory environment that is beginning to adapt to the evolving financial landscape where digital assets play a significant role. Expanded Significance for the Market: 1. Institutional Adoption: The approval of Bitcoin ETFs can be seen as an invitation to institutional investors who have been on the sidelines due to the lack of regulated investment vehicles. Institutions often prefer to invest in regulated markets, and ETFs provide this, along with the traditional investment structure they are accustomed to. 2. Increased Accessibility: ETFs trade on traditional stock exchanges, which means investors can buy into Bitcoin just as they would purchase shares of any other publicly-traded company. This familiarity removes the technical barriers associated with buying and storing cryptocurrencies directly. 3. Enhanced Liquidity: The introduction of Bitcoin ETFs is expected to increase liquidity in the Bitcoin market. Higher liquidity tends to reduce volatility, potentially making Bitcoin a more stable investment in the eyes of cautious investors. 4. Potential for Diversification: Investors looking to diversify their portfolios now have an easier route to include Bitcoin. Since Bitcoin and other cryptocurrencies often demonstrate low correlation with traditional asset classes, they can be an attractive option for portfolio diversification. 5. Market Maturation: The approval is a step towards the maturation of the crypto market. It suggests that cryptocurrencies are becoming an integral part of the financial system, potentially paving the way for other digital assets to gain similar acceptance. 6. Validation of Asset Class: By greenlighting Bitcoin ETFs, the SEC is essentially validating Bitcoin as an asset class. This could encourage more cautious investors who were waiting for a regulatory seal of approval to consider cryptocurrency investments. 7. Pricing and Valuation: With ETFs, the pricing of Bitcoin becomes more transparent, as the ETF price reflects the current market valuation of Bitcoin. This transparency is crucial for investors who may have been concerned about the opaque pricing mechanisms on cryptocurrency exchanges. Impact on Investment Strategies: 1. Retirement and Long-term Portfolios: Bitcoin ETFs could start being included in retirement accounts and long-term investment portfolios, which would have been difficult or impossible before due to regulatory or custodial concerns. 2. Sophisticated Investment Vehicles: The approval could lead to the development of more sophisticated investment products and strategies around Bitcoin, such as inclusion in mutual funds, pension funds, or insurance products. How might this approval affect Bitcoin's price? Historical parallels with the first spot gold ETFs suggest that the approval could lead to a significant increase in Bitcoin's price. The introduction of gold ETFs resulted in a dramatic appreciation of gold prices over a decade, and if Bitcoin follows a similar trajectory, a considerable increase in its price could be expected​​. However, the immediate market reaction can be varied. Some analysts argue that the market has not fully priced in the potential effects of ETF approval, anticipating a massive supply shock and substantial capital inflows​​. Others expect a more tempered short-term price movement with potential peaks followed by periods of stability​​. What does the current technical analysis suggest about Bitcoin's market conditions? Bitcoin's current technical indicators on the weekly chart illustrate a bullish trend: Bollinger Bands: The price is at the upper range, indicating high volatility and bullish conditions, but also the potential for a pullback. Volume: A substantial trading volume supports the strength of the current trend. Simple Moving Average: The price above the SMA suggests a continuing uptrend. Ichimoku Cloud: The price above the cloud is a strong bullish signal. MACD: A positive MACD above the signal line indicates bullish momentum. Together, these indicators suggest that the market is currently in a bullish phase, but caution is warranted given the potential for volatility. How do market sentiments and fundamentals play into this analysis? Market sentiment is buoyed by the ETF approval, and the fundamentals are strengthened by the prospect of increased institutional participation. The technical indicators are optimistic, yet they are only part of a comprehensive analysis that must include external factors such as market sentiment, regulatory developments, and macroeconomic trends. What should investors be wary of in the current market conditions? While the bullish indicators and the potential capital influx from ETFs are promising, investors should be mindful of overexuberance. Markets often "buy the rumor, sell the news," meaning that much of the optimism around anticipated events may already be reflected in the price. The weeks following the ETF launch will be crucial for observing whether the market has indeed fully priced in the ETFs or if the new investment vehicle will continue to drive price appreciation. Conclusion and Outlook The green light from the SEC for Bitcoin ETFs is a big deal for the crypto world—it could mean more big-money players stepping in and a sign that the crypto market is growing up. Right now, the charts are pointing to good vibes, with prices climbing. But remember, the world of investments is tricky, and Bitcoin's next moves will really hinge on how the big guns in finance take to these new crypto-flavored ETFs, what everyday buyers do, and the overall health of the economy. We're in some exciting times, so keeping an eye on how things unfold is key as we steer through these new waters. Remember, this analysis is for informational purposes and should not be taken as financial advice. Enjoyed the analysis? Don’t forget to hit like, drop a comment with your thoughts, and share it with your friends.
Long
by MonoCoinSignal
2
$BTC extreme bullish sentiment & most orderly movementAs stated before, there's extreme bullishness on $BTC. Every influencer's excited & media is plastering a bull take. They can be right but more often than not they are wrong and can be used as a contrarian indicator. Things to notice: #BTC shorts are @ their LOWEST in a year! Money Flow is lessening. Decent sell volume at the moment. ---------------------- Let's look at weekly data, chart shown. Weekly CRYPTOCAP:BTC shows that indicators are weakening. (Indicators aren't primary means of trading but are used for HELP) Let's compare #BTC to other time periods, shall we? Are we more like early or late 21? This is most orderly run since the introduction of derivatives. Looks almost like an Index, interesting, sarcasm. #Bitcoin #bitcoinhalving #ETF
CME:BTC1!
by ROYAL_OAK_INC