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BTC/USDT UpdateBTC/USDT Technical Analysis Update Date: 10/24/2024 Author: Crypto Rado ( Rhino aka Bear ) Timeframe: 1H & 4H 🔹 Overview:🔹 Bitcoin has successfully hit the $65.4K target, as expected, and has since bounced with a bullish divergence on the 1H timeframe, suggesting a potential short-term momentum reversal. 🔹 Key Levels:🔹 Resistance Zone: $68K–$68.5K (Aligns with the 0.615–0.786 Fibonacci retracement on 1H) Support Zone: $65.4K (Breakdown level) Point of Control (POC): $67.3K (Volume-driven key level) 🔹 Scenarios: 🔹 Bearish Case: A confirmed breakdown below $65.4K could drive the price towards $63.7K and $62.6K, with larger downside targets at GETTEX:48K to $40K if bearish momentum continues. Bullish Case: If Bitcoin breaks above $69.8K, the next major upside targets are between $100K and $110K, signaling a continuation of the bullish trend. For now, the market structure appears corrective rather than fully bearish, and I will wait for clearer price action before making further trading decisions. Disclaimer: ⚠️ This is not financial advice. All information is for educational purposes only. Conduct your own research and understand the risks before making any trades.
by RhinoAkaBear
BTC New Highs Inspired by Elections!With a strong technical foundation and a high-potential macro backdrop, BITSTAMP:BTCUSD is showing signs of continued upward momentum as we near the U.S. election weekend. Historically, this period tends to bring heightened market activity, and BTC's current technicals are aligning to support a bullish outlook. 📈 Key Indicators Supporting the Uptrend: Momentum Oscillators: The Awesome Oscillator, Momentum (10), and MACD Level (12, 26) all flash buy signals, highlighting BTC's increasing buying strength and upside potential. Moving Averages: Across the board, both exponential and simple moving averages from 10 to 200 days indicate a clear buy trend, with BTC consistently trading above these key levels. VWMA & HMA: The Volume Weighted Moving Average (20) and Hull Moving Average (9) confirm recent price support, suggesting buyers are actively backing the current levels. While oscillators like RSI and Stochastic remain neutral, the strong buy signals from trend-following indicators provide a favorable setup for a potential rally. 📅 Timing: With election-week volatility sparking interest for the first time in COINBASE:BTCUSD , now could be an opportune time for swing traders to jump in. Disclaimer: This post is for informational purposes only and not investment advice. Cryptocurrency trading carries risks, including potential loss.
Long
by CF_444
BTC printing HL on 4HRHi all, This is my 3rd post and I'd love to share a very simple idea with you. No excessive indicators, just simple SR and factual information. On the 4hr #BTC we can observe a peak to about 69,500 USD with the RSI gradually moving lower (sorry, Im using the free version and do not have the ability to show more than 3 indicators). Eventually, a steep drop followed to the support at about 65,200 USD with a wick closing above 66,400 USD. We had quite a nice recovery to 68,850 USD followed by the same steep drop to 65,500 this time and a wick closed above 66,700 USD leading to a higher low. Another important fact, is that the price wicks towards the 100 SMA on the 4HR (which is rising) leading to strong buying pressure and higher lows. The last drop occured due to the Israel - Iran bombings, which was a great way to use externalities in retesting a support. Three things can be observed here: - A test of our ATH cluster - A breakdown to the 65k support & 100SMA on the 4hr TF - Retest to 68,850 (which is a LH btw), followed by a breakdown and retest of support at 65,5k which coincides with the rising 100SMA on the 4hr TF and, eventually a HL. What does that mean? It means that, if we keep this structure, the only way is UP. Im expecting the move to reveal within the next 48 - 72 hrs. Let's see, though. Geo situation is very dynamic and the crypto market has proven to be quite sensitive to whatever events. Good luck yall. *This analysis is based purely on my personal observation and should serve as educational material. It is not a financial advice by any means.
Long
by raichostanev
1
Bitcoin - DOUBLE TOP Weekly TimeframeA Double top in the weekly timeframe is never a good sigh - however, all is not yet lost. One final pattern remains to be seen - and that is the Bump and Run method. Perhaps we can bump that diagonal support around 65k, retest the bulls' determination - and then make the final impulse wave up. There is a fakeout observed on Dogecoin as well, and alts that have increased alongside BTC over the past week will likely fall pretty hard IF Bitcoin cannot keep closing ABOVE 65K. ______________________ BINANCE:BTCUSDT
by CryptoCheck-
4
#BTC Bullish Cup with Handle📊#BTC Bullish Cup with Handle📈 🧠From a structural perspective, we have built a bullish cup with handle structure in a sideways consolidation, and also completed the TP2 of the long position. Currently, it has touched the neckline resistance, and there is an expectation of a decline, but the structure belongs to the long position, so after the pullback occurs, we will be bullish, but we need to pay attention to the blue resistance area above. 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
Weak Impulsion in BTC's UptrendBitcoin Showing Weak Impulsion to Continue Uptrend, But Buy Opportunities May Await Analysis by BIDASKMAGNET Institute for Analysis Bitcoin’s recent market movements are displaying signs of reduced impulsive strength, leading to cautious optimism among traders and investors. The BIDASKMAGNET Institute for Analysis has highlighted that, despite weaker momentum in the uptrend, buyers should maintain a watchful stance for potential entry points in the near term. Weak Impulsion in BTC's Uptrend Over recent trading sessions, Bitcoin has struggled to sustain significant upward momentum, with price action showing lower highs and increased resistance at key levels. This weakness in impulsion suggests that, while the broader market sentiment leans bullish, current conditions might not fully support an immediate uptrend. BIDASKMAGNET Institute points out that BTC’s inability to breach established resistance zones indicates the presence of substantial selling pressure. Reasons Behind the Weak Impulsion Market Liquidity Concerns: With a shift in institutional interest, the liquidity driving Bitcoin’s upward momentum appears slightly dampened, making it difficult for the asset to power through established ceilings. Macroeconomic Factors: External financial pressures, including inflationary concerns and central bank policies, have recently impacted crypto markets, contributing to Bitcoin's reduced upward drive. Profit-Taking: Following recent gains, many short-term holders are likely cashing out, which adds to the selling pressure and challenges Bitcoin’s price progression. The Importance of Waiting for Buy Opportunities According to BIDASKMAGNET, despite the limited impulsion, Bitcoin still presents buying opportunities, especially for long-term holders and those seeking advantageous entry points. The recommendation is for buyers to exercise patience and monitor technical indicators closely, as the current market structure suggests that Bitcoin may retest lower support zones before resuming a more definitive upward trend. Conclusion Although Bitcoin is exhibiting weak impulsive energy to sustain its uptrend, BIDASKMAGNET Institute advises a “wait-and-see” approach, suggesting that buy opportunities may emerge if Bitcoin consolidates at key support levels. Traders and investors should monitor these levels closely and consider this analysis as part of a broader strategy to navigate the volatile crypto landscape.
Long
by BidAskMagnet