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Crypto Frenzy: Elon Musk's Impact on Bitcoin and DogecoinCryptocurrencies are skyrocketing just 7 days before the presidential election, and many people are wondering why. The answer, which should come as no surprise, is of course, Elon Musk.The reason is a perfect storm of sorts. Musk’s increased prominence as he campaigns for Donald Trump, his recent comments about cryptocurrency, and his potential role in a Trump administration (should Trump win) are all driving up the price of Bitcoin as well as Dogecoin and a number of other meme coins.Dogecoin, a favorite of Musk’s, was up 9.7% on Tuesday. This comes after the tech billionaire said at a Trump political rally in Pennsylvania that he’s not “actively involved” in crypto: “I just like Dogecoin.” The billionaire founder of Tesla and Space X and owner of X has a long history with Dogecoin, which he first promoted in 2021 on Saturday Night Live, causing the price to spike, only to plunge afterward. (The meme coin’s price has gone up and down based on Musk’s comments since.)Musk, who has been actively campaigning for the Republican nominee and raising money for Trump, has also said he would be heading the Department of Government Efficiency, dubbed DOGE, if the former president is elected. That has also contributed to the frenzy, leading to a more-than-20% gain in Dogecoin over the past seven days, and 33% over the month. Meanwhile, Bitcoin, which is the largest cryptocurrency by total market capitalization, was up over 4.4% on Tuesday, seemingly swept up in the excitement. It’s now trading just short of its March record high.
by habib75rajabi
Bitcoin Update: About to start rocketing to 100K!BTC is making a decent change of character on the daily chart and now it’s making new highs. According to my latest analysis on Bitcoin, the bullish scenario of breaking above 70K has played out and now we’re closing the price above 70K. In the current situation, I expect a minor correction to 66K before starting the main rally for Bitcoin to higher price levels and making new all-time highs, with the major resistance target of 100K. The correction is invalid if the price closes a daily candle above 74K, and the bullish impulse from 66K to 100K is dismissed for a while if the price breaks below 65K. DYOR
Long
by farhadnmd
#BTC reaches the stage resistance zone📊#BTC reaches the stage resistance zone✔️ 🧠The original neckline support zone was broken and turned into a resistance zone. Yesterday, we found a signal of stabilization, but we found a short structure in this resistance zone. Because of the existence of this structure, our long trading strategy may fail, so I canceled yesterday's long trades, and the market developed as expected. Today we stabilized again in the yellow support zone and tried some long trades. We have locked in the main profits and see if we can break through this resistance zone this time. ➡️If we are rejected again and return to the yellow support zone again, do you dare to try long trades? Let's see👀 🤜If you like my analysis, please like💖 and share💬 💕 Follow me so you don't miss out on any signals and analyze 💯 BINANCE:BTCUSDT.P
Long
by wolf_king888
BTC wait for Long entryBTC has broken above its weekly trendline resistance, although prices remain below the monthly resistance level. Trading in this range is challenging and requires quick adaptation to shifts in market sentiment, driven by political factors (such as the U.S. election and global conflicts) and macroeconomic conditions (like the Federal Reserve's stance on rate cuts). In the short term, on the 8-hour timeframe, BTC appears to be moving within an ascending channel. I'm considering a long setup based on the chart, with: Entry: Around $65,000 Invalidation: Daily close below $63,000 Take Profit: * TP1 at $76,500 * TP2 at $84,000 Disclaimer: This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
Long
by evasivesteering
Short-Term Bearish Setup with Potential Entry PointsBitcoin is showing weakness on the 4-hour time frame but hasn't completely broken the daily swing low to confirm a mid-term downtrend. The 4-hour chart is bearish, and I'm expecting another small leg up to the premium level (above the 0.5 Fibonacci level). I've marked two potential entry areas with star icons and their targets. Two Great Entries: Short Limit: 70,750 (1-hour FVG Area) Second Entry: 69,553 (only after the first limit is hit or missed) Stop Loss: 71,712 (above the recent swing high) Target: 63,123 Good luck!
Short
by stavkog
2
Bitcoin Bounce Setup at $69K Support Decision : Open Long Chart Analysis : The daily chart shows that Bitcoin rejected off resistance near the $73,000 level and has pulled back to test key support around $69,000, which is aligned with the ascending trendline from recent lows. The 4-hour chart reveals that the RSI(4H) is going to oversold territory at 38.90, indicating potential for a bounce. Price is finding support at the lower boundary of the ascending wedge pattern. Given the current technical structure, this pullback could provide a buying opportunity within the overall bullish trend. News Impact : No significant bearish news surrounding Bitcoin itself has been reported. General crypto-related news remains neutral to positive, with recent partnerships and developments sustaining long-term bullish sentiment. A recent Bitcoin hosting deal by Bitfarms with Stronghold also supports positive infrastructure developments but has not significantly impacted immediate price action. Market Sentiment: The Crypto Fear and Greed Index is at 75, indicating 'Greed,' though not 'Extreme Greed,' suggesting elevated bullish sentiment. TradingView user sentiment is mixed, though multiple analysis ideas suggest a potential bounce from the $69,000 area, which is also identified as key support by several analysts in their ideas, further supporting the case for a potential rebound in the short term. Conclusion: Given that support around the $69,000 mark holds, and the oversold RSI(4H) provides a potential bounce point in line with the macro bullish trend, initiating a long position here is reasonable. If price breaks below the current ascending trendline, further downside to $66,600 is possible, but with the current support holding, a fresh long position with a stop below $68,500 allows for a calculated entry. Confidence Score: 0.77 Note: This analysis was written by ChatGPT.
Long
by AI_Trader_Mina
BTC Making Double TOP pattern its time to sellIn April of 2021, Bitcoin reached a significant peak. In November, 210 days later, a technical double-top and a slightly higher high were reached. Volume rose before the first high towards April 2021. A decline in volume preceded the second high towards November 2021. In 2024, increasing volume anticipated the first high that reached March. Volume declined before to the second high in October 2024. ➣ A significant fall occurred after the higher high/double-top in November 2021 (the declining volume was a powerful telling indication). ➢ Only whales are now trading (no retail) in the October 2024 lower/higher high/double-top, which has extremely low volume and extremely limited market involvement. Will there be a significant drop following 2024's second high. I prefer sell now and SL with be 76000 and profit target should be 62000.
Short
by limitissky77
BTCUSDT Based on the chart, here’s a concise bullish trading strategy: Key Support Zone: Watch the area around 68,500 USD, where the price is likely to retrace and rebound. Entry Point: Consider entering a buy position if the price touches the support zone around 68,500 USD and shows signs of a bullish reversal. Take Profit Target: Aim for 70,200 USD or higher, where the price previously reached a peak. Stop Loss: Place a stop loss below the support level at 68,486 USD to manage risk in case of a breakdown. This strategy anticipates that the support zone will hold, allowing the price to bounce back for the next upward wave.
by Sanhara
BTCUSDT - UniverseMetta - Analysis#BTCUSDT - UniverseMetta - Analysis A correction of more than 6% has formed on D1, to a local support level, which may indicate a retest of this level, before going up, it is worth considering news factors in the near future, so as not to increase risks. You can try to work out a retest of the level, with a short stop loss, in order to avoid further corrective movement to the levels to update ATH. In the best case scenario, you can take a profit of 1:7. If the idea does not materialize, then wait for an additional entry point for purchases. Target: 70600 - 76550
Long
by Trade-U-Metta
Bitcoin will have correction before the next Bull RunBitcoin managed to rise to around $73,660 yesterday, close to its previous all-time high. However, it couldn’t sustain above this resistance level, as heavy sell orders in that zone prevented the creation of a new high. As shown on the chart, after Bitcoin's recent rise, we’re seeing a negative divergence, which could indicate an increase in selling positions. The first support level for Bitcoin is in the range of $71,095 to $71,450, and it's highly likely that this support zone will be tested before any attempt to retest the previous high. This support level can determine the next direction of price movement. If this support is lost, selling pressure could increase, potentially pushing Bitcoin towards the $70,000 level. However, a bounce from this support could prepare Bitcoin for another attempt at the $73,660 range. Remember, Bitcoin is in an uptrend, and each support level can serve as a good entry point for new buy positions. Therefore, as long as Bitcoin remains in an uptrend, reactions to support levels should be closely monitored.
Short
by bizamooz-com