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Bitcoin Price Analysis Adjusted for Inflation: Key Reaction LeveOverview In this analysis of the BTC/USDT pair adjusted for inflation using the M2 money velocity (M2V), we examine the key Fibonacci levels and potential reactions from order blocks (OB) and fair value gaps (FVG). This provides a more accurate perspective on Bitcoin's price action in the context of inflation. Key Levels and Analysis Current Price: BTC/USDT adjusted for M2V is trading at 43,235.36, with a 1.57% increase. Fibonacci Levels: 0.236: 49,231.96 0.382: 42,763.04 0.5: 37,534.73 0.618: 32,306.42 0.786: 24,862.72 Potential Reaction Levels 0.5 Fibonacci Level (37,534.73): Order Block (OB): Just below the 0.5 level, an order block is present, indicating a potential strong support zone. Fair Value Gap (FVG): This zone also aligns with a fair value gap, suggesting a high probability of a significant price reaction. Targets Target 1: 49,231.96 - Key resistance level based on the 0.236 Fibonacci retracement. Target 2: 59,688.58 - Major resistance aligned with the 0 Fibonacci retracement level. Target 3: 87,331.31 - Based on the 0.618 Fibonacci extension. Target 4: 115,152.95 - Ultimate bullish target at the 1.618 Fibonacci extension level. Harmonic Patterns The chart shows a large harmonic pattern Cypher, indicating potential reversal zones: Point C: Previous peak, suggesting areas of interest for resistance and support. Current Price Action Support Levels: Immediate support at the 0.382 Fibonacci level (42,763.04). Stronger support anticipated at the 0.5 level (37,534.73) due to the presence of OB and FVG. Resistance Levels: 0.236 Fibonacci level (49,231.96) as the first major resistance. Potential Scenarios Bullish Scenario: Holding above the 0.382 level could lead to a break above the 0.236 level, targeting 59,688.58 and higher. Bearish Scenario: If the 0.382 level fails, a drop to the 0.5 level is likely, where a strong reaction is expected due to OB and FVG. Conclusion Adjusting for inflation with the M2 money velocity offers a clearer view of Bitcoin's real value. The 0.5 Fibonacci level (37,534.73) is critical, with strong support from OB and FVG, suggesting a significant price reaction. Monitoring these levels will provide valuable insights for trading decisions. Share your thoughts and analysis in the comments below! Disclaimer: This analysis is for educational purposes only and should not be considered as financial advice. Always do your own research before making any trading decisions.
Long
by Neirolink
1
GOLD, SHORTGold has been on an uptrend path since a new low was updated at 1812 (Friday, 6th October 2023. The bulls took over from 1812 until there was a break of structure when the price updated the LH from 2013 (11th January) to 2002 on Wednesday, 17th January 2024. The break of structure could mean that if gold price fails to retest the recent HL of 2061 on the Daily, then the recent LH of 2002 will be retested in an attempt to update that LH to possibly 1974. Price is expected to retrace to at least 50% level in 2020 before a potential rise to retest the 2060 level but the price is expected to have a strong resistance at 2045-2048 level. However, the fundamentals lining up for the week (Flash Manufacturing PMI, advance GDP m/m, unemployment claims, Core PCE price index m/m would actually determine the direction of the gold pricing and it is necessary to keep an eagle eye on the event proceedings. A failure to break up the 2045-2048 resistance could mean the SELLERS may drive down the GOLD Price to 2002 and further plundering down to 1974 to confirm a new low update.
FX:XAUUSDShort
by AbeikuGlobal_FX
1
Harmonics indicator, The higher we go the harder we fall? Looks like we are currently trying to break through and declining our cypher harmonic (white) which also happened to land very close to the 236 weekly fib I have drawn from ATH to lowest lows (red horizontal line) The shark harmonic (blue) hitting the 1.618 (orange horizontal line) is looking like to be my next target (30700) thats if we do break through resistance. The shark would also have a lower buy price (D) of around 18000 which iv had confluence with for a few months (blue dashed horizontal line) I'd love to see it play out 🔥
BITSTAMP:BTCUSD
by Connix
Bitcoin harmonics I'm still eyeing up a bullish cypher (white) and shark harmonic (blue) on the daily candle chart. If we get rejected at these levels at the 1.414 fib, I'm hoping for the cypher giving a D (buy) target of around 218600. Which was a huge resistance through the second half of 2022 👀 If we can push up 30600ish (C) and reach the 1.618 I believe we may have a shark giving a buy target of around 18430! (D) this is also massive resistance during the later part 2022 (check December 14th rejection for reference) This is just what I'm personally looking for. Iv had So much confuence around these price ranges it's hard to ignore! (Comments and disagreements welcome! I love a debate 🔥)
BITSTAMP:BTCUSD
by Connix
2024 economy could price in significant advancementsif we complete this confluence of patterns i think the 2024 economy could be quite favorable to nanotechnology stocks. i like the idea of a fund that tracks this as its shown it can steadily climb for long periods of time, although it has overwhelmingly fallen since inception. tracking this is a good market barometer and test of the strength in high tech equities like semiconductors. i like the long term buy side of smh and tiny
AMEX:TINYLong
by cerealpatterns
Calm before the storm GBPUSDAfter a long period of consolidation, GU has finally dropped. 4 hits to the high, the fourth hit being lower than the 3rd. I aspect some level of correction from the market to head towards the 61.8. I believe the MM would like to collect some money off any short sellers still holding and trick traders that it's going long, just for them to drop back down again. Price is in it's first push out of the 3 so I expect some level of correction even if it doesn't go all the way towards the 61.8. P.S. Happy New Year, we're back after a very long time.
Short
by BeaucoupPips
Utility Software (U) More than just a Bench PlayerInteresting Harmonic setup(s) for Utility Software (U) One Harmonic pattern is in progress (Bearish Shark) and one that is trying for the final leg of either a Bearish Bat or a Bearish Gartley pattern. We will watch this for the moment and see if the Bearish Shark hits the $30-32 area. Then we will reevaluate and if U resumes its upward trajectory to the $54 for the final D leg of the Bearish Bat/Gartley Harmonic Pattern. A solid breach of the XB trendline should be the key to the final leg on this 4 hour chart. Stay tuned ! Not Investment advice ... do your own due diligence. S. Note... Lots of potential movement tomorrow (Feb. 1) with a potential Fed rate increase ... be nimble and respect overall market trends.
NYSE:U
by Steve666