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BTCUSD.PI trade ideas

BTC going down!After meeting heavy resistance at 68 - 69k, BTC is on a downtrend. And this makes my prediction correct for now , but this does not mean that the bull movement is completely over. I still expect some price actions around 66.5k which is the price of the upper (resistance) line of the downtrend - which now works as the support level. And there's a good chance this might change the tide and start the bullish movement again. Or the price might just pierce through the level, which would then make the bearish prediction stronger. My humble piece of advice here would be: React, not predict.
BITSTAMP:BTCUSD
by QJEEE
1
Mt. Gox Moves $2.2 Billion in Bitcoin Amid Repayment DelaysMt. Gox, the once-dominant but now-defunct Bitcoin exchange, made waves by transferring 32,371 CRYPTOCAP:BTC —valued at approximately $2.2 billion—to unmarked wallets. The timing of these movements is critical, given the already volatile landscape surrounding Bitcoin and ongoing uncertainties related to the upcoming U.S. presidential election. Mt. Gox Transfers 32,371 BTC to Unmarked Wallets Blockchain analytics firm Arkham reports that Mt. Gox has executed a massive transaction, moving 32,371 BTC to two unidentified wallet addresses. This event stands as the largest transfer from Mt. Gox in recent months. Specifically, 30,371 BTC went to a wallet labeled “1FG2C…Rveoy,” while the remaining 2,000 BTC was directed to a separate wallet named “1Jbez…LAPs6.” Additionally, an internal movement of 2,000 BTC between cold wallets suggests ongoing asset reorganization, likely in preparation for creditor repayments. This is not the first time that Mt. Gox has moved funds, as smaller transfers were observed last week. However, this latest transfer's scale has piqued market watchers' interest, sparking questions about its timing and the potential impact on the Bitcoin market. Repayment Delays Extended to 2025 The transfer comes on the heels of Mt. Gox announcing a delay in its repayment schedule. Initially set for October 31, 2024, the deadline has been postponed to October 31, 2025, following approval by a Japanese court. This extension gives the Mt. Gox Rehabilitation Trustee more time to sort out repayment plans, which many investors see as a temporary relief. However, there is lingering concern about the eventual release of a large volume of Bitcoin into the market, which could exert significant downward pressure on CRYPTOCAP:BTC prices if creditors decide to sell their holdings en masse. Market analysts are wary of how these delays and large-scale transfers could impact the broader cryptocurrency ecosystem, especially as repayment announcements from Mt. Gox have historically triggered market volatility. Market Reaction and Election Uncertainty The market's response to Mt. Gox's Bitcoin movements has been mixed. Some investors fear that the impending distribution to creditors could lead to substantial sell-offs, pressuring Bitcoin's price downward. These concerns come amid broader geopolitical and economic uncertainty, compounded by fluctuations in the U.S. presidential race. Bitcoin’s price has already experienced a 7% dip last week, largely attributed to uncertainties surrounding the U.S. election. Speculation is rife about potential regulatory changes, with some traders anxious about a Kamala Harris presidency, given her largely undefined stance on cryptocurrencies. Conversely, a more crypto-friendly administration could spur optimism among investors. Technical Outlook Despite these concerns, Bitcoin ( CRYPTOCAP:BTC ) has shown signs of resilience. As of now, BTC is trading up 1.53%, with an RSI of 54.82, signaling moderate bullish momentum. The daily price chart also indicates a bullish engulfing pattern forming, which is often a precursor to upward movement. Furthermore, a golden cross—a bullish technical signal where the 50-day moving average crosses above the 200-day moving average—is slowly materializing. Bitcoin’s immediate support lies between the $64,000 to $65,000 pivot range, and a short-term correction could be on the horizon. However, we are eyeing a potential surge to $75,000, with optimistic projections even stretching to $100,000, assuming bullish catalysts materialize. These factors include institutional inflows, market sentiment shifts, and broader acceptance of Bitcoin as a store of value amid economic uncertainty. What Lies Ahead Bitcoin’s trajectory is shaped by both macroeconomic elements and crypto-specific news. The Mt. Gox repayment delay has provided a reprieve, albeit temporary, preventing a massive influx of CRYPTOCAP:BTC into the market. Additionally, geopolitical events, such as the U.S. presidential election and looming concerns about regulatory shifts, add layers of complexity to Bitcoin’s outlook. Investors should also consider Bitcoin’s role as a hedge against inflation and geopolitical instability. As traditional markets brace for election-related volatility, Bitcoin’s status as "digital gold" may attract more attention, driving up prices. However, this is contingent upon market sentiment remaining favorable and no significant sell-off events—such as a large-scale release from Mt. Gox creditors—materializing. Conclusion Bitcoin’s road ahead is fraught with both challenges and opportunities. The Mt. Gox transfers and repayment delays have introduced another layer of complexity, while the upcoming U.S. presidential election adds to the uncertainty. Yet, technical indicators suggest that a bullish trend could be on the horizon, provided the market can weather short-term corrections and external shocks. As always, the crypto landscape is ever-changing, requiring both patience and mental fortitude from investors. The coming weeks will be pivotal in determining Bitcoin’s trajectory, and all eyes will be on key resistance and support levels as the market digests these developments
COINBASE:BTCUSDLong
by DEXWireNews
November 5 Bitcoin Bybit chart analysis Hello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. This is the Bitcoin 30-minute chart. The Nasdaq indicator will be released at 12 midnight tonight. The purple finger at the bottom left, $66,806, is the final long position entry point for the Gap7 section in the analysis article from yesterday, November 4. I marked this section because it could be the start of a bullish train. *One-way long position strategy when the red finger moves. The purple finger section 1 at the top is today's navigation. After operating an autonomous short position 1. $68,350.5 long position entry section / stop loss price when the purple support line is broken or when touching the 3rd section at the bottom when moving sideways ambiguously 2. $70,214 long position target price When reaching the 70.2K target price, autonomous short position or long liquidation Returning red finger 1st section long waiting When adjusting from the current position If you can't touch the 1st section -> 3rd section final long waiting When Nasdaq crashes, Bottom -> Open until 65.7K. Up to this point, please use my analysis articles only for reference and use I hope you operate safely with principle trading and stop loss prices. Thank you.
BYBIT:BTCUSD.PLong
by BitCoinGuide
What reaction does the market have to the elections?The price managed to break the wedge in the one-hour time frame, and this is very good. The price can rise again to 71k dollars or even more with a little correction. Now we have to wait for the results of the US elections, which have a significant impact on this market. In the current scenario, with the US elections being so close, there's a lot of uncertainty, which can lead to increased market volatility. Investors are closely watching the candidates' stances on key issues like trade policies, taxes, and regulation, as these will have significant implications for various sectors. Give me some energy !! ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
COINBASE:BTCUSDLong
by CobraVanguard
Oct.29-Nov.04(BTC)Weekly market recapLast Friday, the non-farm payroll data fell significantly short of expectations, leading to a substantial increase in interest rate cut anticipations. The price of BTC surged before retreating, with the majority of traders attributing the disappointing data to the impact of the hurricane, as the market response was less than favorable. Currently, the outcome of the U.S. presidential election is pivotal for the mid-term trajectory of BTC, given the differing monetary policy and inflation outlooks of the two candidates. Should Trump be elected, the promised favorable policies may come to fruition, increasing the likelihood of institutional investments in BTC, thereby enhancing its fundamentals as digital gold. Conversely, if Harris takes office, the SEC is expected to maintain its stringent stance on cryptocurrency regulations. Last week, BTC experienced an initial rise followed by a decline, breaking through the resistance level to reach $73,590 on Tuesday. The WTA indicator showed the emergence of blue bars representing whales, but these disappeared after Saturday, indicating a withdrawal of significant capital. The ME indicator remains in a bullish trend. In summary, we anticipate that BTC may experience considerable volatility this week. We have adjusted the resistance level to $74,000 and the support level to $67,000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Presidential Elections impact on Dollar and BitcoinThe U.S. dollar is key in global finance. It's used in trade and as a reserve currency. Presidential elections can greatly affect the dollar's strength. Changes in leadership and policy expectations lead to currency swings. These swings show how markets view future economic stability and policies. Historical Trends: Presidential Elections and Dollar Volatility Presidential elections bring uncertainty to markets. Investors try to guess how the election will affect policy and interest rates. This uncertainty makes the dollar more volatile. Here is how the DXY moved after the last 4 elections Price action suggests that we could go higher short-term, then down. However, Im not trying to predict anything now. I would rather wait and then do my classic trading setups as usual. Volatility can happen before and after an election. It depends on the clear result and policies the new administration will follow. Election Cycles and Currency Movements: The dollar is more volatile during election years. But, this effect varies based on market expectations of each candidate's policies. Historical Examples: In 2016, Donald Trump's win made the dollar rise at first. This was because of his pro-business policies. But, the 2008 election led to uncertainty and a weaker dollar. Factors That Influence the Dollar During Elections Several things affect the dollar during elections. These include: Economic Policy Outlook: Markets watch candidates' economic plans. Policies that boost growth, like tax cuts, help the dollar. Trade and Foreign Relations: Candidates' views on trade and foreign relations matter a lot. Protectionist policies might strengthen the dollar but could harm growth in the long run. Federal Reserve Influence: The president's Fed picks shape monetary policy. Markets react to changes in policy, like interest rate shifts, which affect the dollar's value. Market Reactions and Investor Behavior Before an election, investors often wait to see what happens. This makes the dollar move as they adjust their investments. After the election, the dollar's value changes based on the new policies. Currency as a Safe Haven: The dollar is often seen as safe during uncertain times. Even with U.S. risks, investors might choose the dollar for its stability. Impact of Policy Announcements: The dollar's immediate reaction depends on the winning candidate's policy plans. Big spending plans can lead to inflation, weakening the dollar over time. If we check COT data we can see that Non-comercials as well as commercials are both around 50/50 hedged. Empirical Data and Case Studies Studies show different effects of elections on the dollar, based on the economy: 2016 Presidential Election: The dollar rose after Trump's win due to his economic plans. These plans were seen as good for growth, leading to a positive dollar reaction. 2020 Presidential Election: After Biden's win, the dollar fell. This was because of expected big spending and low interest rates, which could cause inflation. 2024 Presidential Election: From a technical perspective, COT and seasonal tendencies. I think we could see push up but then the dollar is set for the deep dive. While Bitcoin has only been around since 2009, it has already experienced several U.S. elections with discernible impacts: 2016 Presidential Election: The lead-up to and aftermath of the 2016 election, which saw Donald Trump take office, coincided with an increase in Bitcoin's price. The market anticipated regulatory easing and lower corporate taxes, creating a favourable environment for risk assets. Additionally, there was heightened uncertainty in global markets, leading some investors to consider Bitcoin as a hedge. 2020 Presidential Election: The 2020 election was accompanied by heightened political tension and economic uncertainty due to the COVID-19 pandemic. After Joe Biden’s victory, Bitcoin surged, with many investors perceiving the incoming administration’s stimulus policies as likely to increase inflation risks. This led to a major inflow of institutional investment into Bitcoin, pushing it toward new all-time highs. This can also be positive for the Bitcoin. Overall I think the impact will be just short term, whoever wins we will see a rally as the global liquidity is rising and it's the main driver for the bitcoin Long-term Implications The long-term dollar impact of elections depends on policy changes. Initial reactions can be strong, but lasting effects are rare. They happen only if new policies significantly change the economy or global trade. Conclusion The U.S. presidential election has a big impact on the dollar. This is due to market feelings, policy hopes, and the economy's state. Even though short-term ups and downs are usual, the dollar's long-term fate hinges on the new administration's actions and the economy's performance. Knowing how these factors work helps investors and policymakers. They can better prepare for and adjust to changes in currency markets during election times. Thanks for reading Dave FX Hunter
BITSTAMP:BTCUSDEducation
by Dave-Hunter
Bitcoin Firing & Plenty of Upside Momentum Today Monday Bitcoin got its support around the 67,000 to 68,000 mark or thereabouts over the weekend and today has made a measured run to more upside and plenty of momentum it seems to be displaying with the uptick in Volume today compared to the weekend. Price is about 7% below the all-time high price set in March 24. I doubt it will rush at the breakout point today but you never know. But I think bitcoin won't hesitate to properly breakout in price past the mid-70s, Cryptocurrency views the 'breakingout' to higher prices, as the sooner the better.
EIGHTCAP:BTCUSDLong
by Easy_Explosive_Trading
"BTCUSD Head and Shoulders Formation: Key Levels to Watch Title: "BTCUSD Head and Shoulders Formation: Key Levels to Watch for Potential Breakdown or Reversal" --- Description of the Analysis: This BTCUSD 4-hour chart showcases a **Head and Shoulders pattern**, a classic formation often signaling a potential trend reversal. As Bitcoin trades within this pattern, traders should closely monitor the neckline and key levels to identify possible breakdowns or reversals. 1. Pattern Overview: - The **Head and Shoulders** structure consists of three peaks: the Left Shoulder, the Head (the highest peak), and the Right Shoulder. Typically, this pattern implies a bearish setup, as the price often drops after breaking below the neckline. 2. Key Resistance and Support Levels: - **Weekly Resistance** levels at **69,019.12** and **68,548.42** indicate major overhead resistance. If the price attempts a move upward, these levels may act as a barrier. - A **Fibonacci retracement** level at **70,193.36** aligns with the 0.618 level, adding additional resistance if the price retraces higher within the pattern. - The **Daily Support** level at **66,566.10** aligns with the neckline. A break below this level would confirm the head and shoulders breakdown, suggesting further downside movement. 3. Indicators and Momentum: - **RSI**: Currently near 39.38, approaching oversold territory, though not showing strong bullish divergence. If RSI forms higher lows while price trends lower, it may signal a bullish divergence. 4. Potential Scenarios: - Bearish Breakdown: If BTCUSD breaks below the neckline at **66,566.10**, this would confirm the head and shoulders pattern. This could trigger further downside, with short opportunities targeting lower support levels. - Bullish Reversal: If BTCUSD finds support above **66,566.10** and pushes past the **68,388.20** daily level, a reversal may be in play. A close above **70,193.36** (the Fibonacci level) would strengthen the bullish case, with resistance targets near **72,000**. 5. Risk Management and Entry Strategy: - For a bearish breakdown, consider entering short positions below the neckline with a stop-loss just above it, scaling into the position as the price confirms the downtrend. - For a bullish reversal, look for high volume and strong price action above resistance levels before entering, setting stops near the neckline or key support to manage risk effectively. Summary: In summary, this analysis identifies a key head and shoulders pattern on BTCUSD’s 4-hour chart, with potential for a bearish breakdown below the neckline or a bullish reversal if support holds and price reclaims resistance. Traders should closely observe the Fibonacci retracement level, weekly resistance, and daily support levels for entries and exits, supported by momentum indicators for confirmation.
COINBASE:BTCUSD
by MasterTraeder
BTCUSD may resume its upward trendOn the daily chart, BTCUSD stabilized after falling back to the previous demand zone, and there is a rebound demand in the short-term market. At present, attention can be paid to the resistance near 70,000. If it breaks through, it is expected to continue to rise. The upper resistance is around 73,600. If it breaks through, it will open up space for upward movement. If the price falls below the support near 65,000, a downward trend will begin.
BITSTAMP:BTCUSDLong
by XTrendSpeed
#Bitcoin | Inducement Range As We Go Through ElectionsGiven the current uncertainty surrounding the elections, I anticipated a rejection off the open wick at the range's high, which could initiate a consolidation phase characterized by lower-time-frame inducement. This setup aims to engineer additional liquidity around the 73k high. Analyzing the present market structure reveals two sharp impulsive moves, with price currently ranging above the sell-side liquidity pool. It appears rational to expect a manipulation leg down to the 63k - 64k range before we ultimately clear the highs and enter a phase of price discovery. As we enter this price discovery phase, I believe it will trigger significant liquidations from short sellers, creating upward momentum that pushes the price even further. Following this expansion, I foresee a final consolidation forming at higher levels. This consolidation may be tight enough to catch traders off guard before the price breaks above the previous high, which I expect will lead us to the fifth wave of the fifth macro wave, effectively topping the current market cycle.
CRYPTO:BTCUSDLong
by InvrsROBINHOOD
Bitcoin Breaks the Trendline: Breakout or Just Another Fakeout.?Bitcoin has once again breached its established trendline, raising the question of whether this is a legitimate breakout or just another false movement, akin to previous instances. At this juncture, Bitcoin could take two potential paths. For a significant downward shift to occur, Bitcoin must break through a critical support level of 66000 dollars. If this level is compromised, it may indicate a sustained downward trend. It's also important to note that upcoming events, such as the US elections, could have a substantial impact on market dynamics. Therefore, exercising caution and conducting thorough analysis before making any investment decisions is highly advisable.
COINBASE:BTCUSD
by Kartik_Elkunchwar
Bitcoin in the Zone: Major Levels to Watch! Bitcoin’s riding the edge with some serious levels coming up. On the downside, we’ve got key supports at $66,969, $66,054, and $65,000. If $65,000 breaks, a slide to $60,000 is very possible. On the upside, we’re eyeing $69,249 first, and if we break through, we could be aiming for $73,500 and beyond!" Breakdown of Key Levels Current Support Levels First Support: $66,969 This level is Bitcoin’s first line of support. As long as it holds, BTC could stay in a good position to push higher. Second Support: $66,054 If we drop below $66,969, the next stop to watch is $66,054. Losing this level could signal a stronger downside move. Major Support at $65,000 $65,000 is the critical level to keep an eye on. If Bitcoin slips below this, we’re likely looking at a bearish move, with $60,000 as the next realistic target. Upside Targets First Target: $69,249 On the upside, if BTC holds support and gains some momentum, $69,249 is our next target. We might see some resistance here, so it’s a spot to watch for a possible pullback. Second Target: $73,500 If Bitcoin breaks $69,249 with strength, then $73,500 is the next big level in play. Breaking through this could mean BTC is primed for an even bigger push higher. Higher Target: Beyond $73,500 If we reach and hold above $73,500, the path is open for BTC to go for new highs. We could see buyers step in even stronger, and BTC might be setting up for its next major move up. Trading Tip Stay flexible here! BTC’s got some clear levels to watch. If we hold support, we could be heading for a strong upside. But if we lose $65,000, the drop to $60,000 becomes a real possibility. Keep these levels in mind, and let the market show you where it wants to go. if you like this analysis like , follow and boost our posts Mindbloome Trading / Kris Mindbloome Exchange
MARKETSCOM:BITCOIN
by Mindbloome-Trading
BTCUSD price analysis: Prospects of intact price increaseBTCUSD is currently trading around 67,957, continuing the recent decline. Despite the pressure on Bitcoin, the long -term prospect is still positive, because it continues to move in the parallel channel. Looking at the technical indicators, we see that BTC has maintained its position on EMA 34 and EMA 89, signaling the potential for reversing. It is expected that, after checking the lower boundaries of this main canal and the ema, the price increases may continue. This can cause Bitcoin to aim for higher goals, capable of reaching new high levels over 73,000. What do you think about this view? Do you believe that Bitcoin has enough power to maintain its position in the price increase or is there a stronger risk of decline?
BITSTAMP:BTCUSDLong
by Trader-Saylor
1
US Elections impact on BitcoinHistorically, no matter who wins the elections, Bitcoin wins: - Bitcoin’s supply capped at 21 million coins; - Immutable monetary policy; - While governments will continue to print money; - And expanding government debt; Volatility is only short-term. Here's why: Like Paul Tudor Jones said, "All roads lead to inflation". Cash will always lose money over time BUT assets like stocks, Bitcoin and crypto will go up in value. In the short term, crypto might perform a bit better if Donald Trump wins the elections. He seems that the big crypto corporations (Coinbase, XRP, a16z) donated millions to Trump in exchange for more crypto friendly regulations. In the long term, it doesn't matter who wins the elections. In the long term, Bitcoin and crypto are likely to perform well both under Trump or Harris. Why? Because the correlation coefficient between Bitcoin and the US M2 money supply is 83%.
BITSTAMP:BTCUSDLong
by HenriqueCentieiro
Zoom out: Bull Flag Pattern Points to Potential Upside TargetTechnical Overview The COINBASE:BTCUSD weekly chart suggests a bullish setup, with a Bullish Flag pattern and Descending Broadening Triangle playing out. Current price action shows BTC retesting previous resistance as new support around $67,000. Support and Resistance: - Support: The zone at $67,000 serves as immediate support within the flag pattern. - Resistance: Key resistance lies at Bullish Target 1 ($77,750), which aligns with the 0.786 Fibonacci level. Outlook: - Bullish: If BTC holds above $67,000 and breaks through $77,750, a rally towards Bullish Target 2 at $88,000 is plausible, with a long-term target of $112,993. - Bearish: A breakdown below $67,000 may lead to a retracement toward $60,000 or lower. Conclusion: The weekly setup remains bullish if BTC can defend $67,000, with $77,750 and $88,000 as primary upside targets. A decisive breakout could confirm continuation to higher targets.
COINBASE:BTCUSD
by CryptoFallen
Bitcoin the bellwether to watch as US election results roll in Bitcoin trades lower this morning at $67,807 (-1.60%). In the early part of this week, the focus has been on the final set of US election polls, revealing that pro-crypto presidential candidate Trump's election lead has evaporated. BTC appears to have picked up on that shift in sentiment in the middle of last week, as it heads for a sixth consecutive session of losses. This makes it a good bellwether to watch tomorrow as the vote counting commences. Technically, Bitcoin needs to see a sustained break above resistance at $74,000 to confirm the uptrend has resumed towards $80,000. Aware that a sustained retreat below support at $65,000 signals that last week's break higher has failed and that Bitcoin has returned to the safety of its seven-month trend channel, viewed on the chart below.
BITSTAMP:BTCUSD
by IG_com
BTCUSD Bears Target Monthly PivotHello, BITSTAMP:BTCUSD recently tested its previous high but has turned bearish, now testing the monthly pivot point (1M PP). If it breaks and holds below this level, we may see further downside as the entire monthly support structure could be tested. Many traders are entering buy positions at this point; however, confirmation that the 1M PP will hold as support is needed first. No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
BITSTAMP:BTCUSD
by TradeWithTheTrend3344
1