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BITCOIN ALERT!Bitcoin Trade Analysis: Why BTC Could Keep Rising I just entered a trade on Bitcoin (BTC) at $68,780 with a stop loss at $67,379 and a take profit target at $70,200. Here's why I believe Bitcoin will continue its upward trajectory: Bullish Technical Indicators: The MACD (Moving Average Convergence Divergence) indicator has recently flipped bullish, signaling a renewed upward momentum1 This bullish flip is similar to previous rallies, suggesting a potential breakout above $70,0001 Market Sentiment: The Crypto Fear & Greed Index is in the "greed" zone, indicating strong market optimism2 This positive sentiment is driving increased buying interest. Institutional Interest: Recent reports show heightened institutional interest in Bitcoin, with significant inflows into BTC-spot ETFs3 This institutional support is a strong bullish signal. Economic Factors: Speculation about potential interest rate cuts by the Fed and positive political developments (e.g., pro-crypto candidate leading in US election polls) are boosting market confidence1 With these factors in play, I'm optimistic that Bitcoin will reach my take profit target of $70,200. Let's see how this trade unfolds!
BITSTAMP:BTCUSDLong
by ProTradeHub
BTC, will it fall further or parabolic?I was going to talk about the 3hr and 9 hr chart collision in the blue box. Making note if BTC can hold this area a push higher is looking good. BTC had other ideas. So, at the time of creating this Idea 11 am eastern UTC4, The Circle is the area to keep an eye on .. it has 2 powerful convergences. This 1 hour chart has the support at the 200 / 233 SMA's. The green Flag is the area of the 40 sma on the 6 hr chart. If the fall continues there is not much below it too slow down into the 50k region. I was just a bit early with my previous thoughts of the pull back. Thought for the day: Trade with a plan and follow it or get a new plan.
BINANCE:BTCUSD
by Sir-Kameleon
2
Bitcoin (BTCUSD): dip was bought, but no green light yetFollowing up on our previous update, the market found support at the anticipated level, resulting in a double dip, and subsequently rebounded. From a technical perspective, we remain within the confines of the long-term bullish flag pattern. A break above the 70k level would confirm the end of this pattern and potentially trigger a new leg up. Meanwhile, near-term support is expected to be found around the 66k level, IF we get there. To be continued..
BINANCE:BTCUSD
by MCFractalStudies
SPY/QQQ Plan Your Trade For 10-21: Gap Potential PatternToday's pattern suggests an opening price Gap is likely. Given the markets are trading slightly lower this morning, this Gap potential plays very well with my Roadmap trading outline from last week. I highlighted the need to sell out of positions last Friday and look to buy into the Gap Potential pattern today. If the markets rally off this opening gap pattern, we could see a nice move in the SPY up to 587-588+. Gold and Silver are rallying again. But be aware today is a TOP pattern for Gold/Silver. That means both Gold & Silver will attempt to identify resistance and move away (lower) from that resistance level. Bitcoin looks to have moved into the Ultimate Peak level on an intermediate-term Excess Phase Peak pattern. Additionally, the deeper low sets up a longer-term Excess Phase Peak pattern that suggests Bitcoin has entered the Consolidation Phase (#3). Because of this, I suspect Bitcoin will fall below the FWB:67K level and potentially move into broad consolidation for a minimum of at least 5-6 weeks. These Consolidation phases in longer-term Excess Phase Peak patterns can be brutal for traders. The volatility of these consolidation phases can present real challenges and last about 50% of the time it took to Flag. Given this information, we may see many weeks of consolidation within a range in Bitcoin - possibly lasting into December 2024. This will be a tough week for traders. Try to stay aware of the bigger picture and play the rotation headed into next week. Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
BITSTAMP:BTCUSDLong
by BradMatheny
5
BTC/USD Approaches Critical Resistance: Breakout or Pullback?Based on the BTC/USD chart, the price is approaching a significant resistance zone near the ATH (All-Time High) at 73,814. A breakout above this level could lead to a strong upward movement, with potential targets at 76,377 and higher, possibly reaching new ATH levels around 90,000 and 100,000 USD per Bitcoin. However, if the price faces resistance at this zone, a pullback could occur towards the first support area around 64,905 (pivot line). Should the decline continue, the next support levels are at 62,407 and 59,944, with a stronger correction likely if these levels are breached. Key Levels: Resistance Area: 73,814 (ATH), 76,377 Support Areas: 64,905, 62,407, 59,944 Potential Demand Zone: 52,791 Directional Outlook: Bullish: A breakout above 73,814 could signal a bullish rally toward 90,000 and 100,000. Bearish: A failure to break through the resistance at 73,814 may result in a pullback toward the support levels, with 64,905 being the first target. In summary, the current trend is bullish as long as BTC/USD remains above the pivot zone, with strong resistance ahead. A breakout will be key for further upward momentum. previous idea:
BITSTAMP:BTCUSDShort
by SroshMayi
1
Weekly BTC UpdateDate: October 19, 2024 Bitcoin has maintained relative strength above 65,000 USD, but has been unable to decisively break above the 70,000 USD psychological resistance. The market is clearly respecting liquidity pockets and major order flow zones, which continue to play a pivotal role in the market's direction. Resistance: - 69,000 USD and 70,000 USD (40% of Order flow) - significant short-side liquidity will be collected if those levels get broken down Support: - 65,000 USD (Local support) and 62,500 USD (Strong Support): Elliot Waves: - According to EW theory there shall be finishing of Wave 1-5 cycle Strategy Outlook - Bullish Scenario: A strong move above 70,000 USD could trigger a rapid push toward 74,592 USD, especially with the order flow concentration there. A break above this could lead to new highs, with minimal resistance above. - Bearish Scenario: Failure to break 69,950 USD could lead to a rejection and a correction back to the 65,000 USD support, especially if the A-B-C correction plays out. Breaking 62,500 USD would signal deeper weakness and likely invite more selling pressure.
BITSTAMP:BTCUSDLong
by fondOrange28771
Bitcoin - The return of Trump, the rise of Bitcoin?!Bitcoin is above the EMA50 and EMA200 in the 4H timeframe and is trading in its ascending channel Risk ON sentiment in the US stock market or investing in Bitcoin ETF funds will lead to its continued upward movement Capital withdrawal from Bitcoin ETFs or Risk Off Sentiment in the US stock market will pave the way down for Bitcoin, which can be found in the two defined demand zones, looking for Bitcoin buying positions It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market, and compliance with capital management in the cryptocurrency market will be more important
COINBASE:BTCUSDLong
by Ali_PSND
$BTC back below $60k before the election?CRYPTOCAP:BTC has been consolidating in a series of lower highs ever since the March highs. Everyone is extremely bullish here calling for new highs by this week or end of year. I've seen multiple people on Twitter share that they market bought $100,000k+ of BTC in the last week. I don't think the trade is going to be that easy and the chart is shaping up to have a similar view. If we look at the chart, you can see that price is rejecting off of the upper trend line from both the larger structure as well as the smaller channel inside of that larger structure. Unless price can break above those levels, I think price is most likely to head down from here. I know everyone's downside targets for a pullback are in the $63k-67k range, but the chart tells me that we should see lower. My base case from here is that we get down to the two lower supports at $54-56k, but I'm open to the possibility of a bounce at $59k. I'm not shorting here this move. I never short crypto. I'm just sharing this view to provide a better entry for those looking to get in the market and establish a new position, or to prevent those from losing money (especially leveraged positions) on the move down. I'm still of the view (as of now) that this move will be the start of a larger move down, but I'll wait to share more on that after this pullback plays out (if it does).
BITSTAMP:BTCUSDShort
by benjihyam