$BTCUSDMarkets are getting into its demand fill as we get elections going on this week rumors of trump victory will make new all time high for BITSTAMP:BTCUSD expecting pullback into these levels and push to upside after
BULLUSD trade ideas
BTCUSDBINANCE:BTCUSDT
As we can see, there’s a supply zone where the price has been rejected multiple times.
This is a strong liquidation and selling area.
If we get a daily candle close above this supply zone between 72,000$ and 73,000$ we’re likely heading for a new HH around 84,000$ maybe even higher.
Trade carefully.
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This Bitcoin (BTC/USD) daily chart
Bullish Bias: The overall trend remains bullish, with price action inside the ascending channel, above both the 50-day and 200-day SMAs, and positive MACD momentum.
Caution for Potential Retracement: The Stochastic RSI's overbought condition and resistance near $74,000-$77,000 suggest that a pullback could occur. A retracement towards $64,000-$65,000 would be a healthy consolidation level and could present a buying opportunity if the trend remains intact.
Breakout Confirmation: For continued bullish momentum, Bitcoin needs a decisive break above $77,000 with strong volume. This would likely confirm the bullish continuation toward higher targets, possibly above $80,000.
Watch for Election Day Volatility: The approaching Election Day could lead to increased market fluctuations, so it's crucial to monitor support and resistance levels closely.
This analysis indicates a cautiously optimistic outlook for Bitcoin, with a bullish bias, but readiness for a potential retracement or consolidation phase in the short term.
Fifth Rejection from the Last HurdleBTC’s initial reaction to the $72,000 - $73,800 resistance indicates a fifth rejection at this critical level. For a potential retest of this resistance, BTC must secure a weekly close within the $65,500 - $67,300 support zone. As noted previously, BTC could experience a deeper pullback, potentially revisiting the downward trendline it broke out from two weeks ago. However, to sustain bullish momentum, BTC must maintain weekly closes above this trendline to bolster the likelihood of a renewed move higher.
BTC - BTFD OpportunityBitcoin is in a significant support zone after a sell-off. We are taking the opportunity to open a long position, which should take us back above the USD 70,000 mark.
Bitcoin investment must-have(11/4-11/10)This week is the U.S. election week, now the U.S. election uncertainty is very big, nearly a month since Trump's voice is very high, but the election process Harris's victory is gradually rising, the U.S. election has a major impact on the whole market, and there is also the interest rate meeting on Friday, the cryptocurrency market at present to watch and avoid the risk.
Option ATM IV has risen to 80% this week, and with all of this month's option IVs significantly higher than forward options, the next few days could be big.
🌟 Heavyweight events this week:
Tuesday 11/5
💼 Reserve of Australia announces interest rate resolution and monetary policy statement (11:30)
🌟 US holds 2024 presidential election
11/6 Wednesday
💼 Bank of Canada publishes monetary policy meeting minutes (02:30)
💼 U.S. Treasury announces debt issuance program for the new quarter (21:30)
11/7 Thursday
💼 Bank of England announces interest rate resolution and minutes (20:00)
💼 US initial jobless claims for the week (20:30)
11/8 Friday
💼 Fed announces interest rate resolution (03:00)
📌 Crypto Market Outlook:
This week is the U.S. election week, now the election is burning, who will win is not yet known, and Friday's interest rate meeting, the market is generally believed to be a 25 basis point rate cut, this week's option parity IV has risen to 80%, cryptocurrency risk aversion is obvious. With Bitcoin's short-term term IV currently at high levels, it would be interesting to get in on a bit of election gaming this week.
📌 As for the crypto rate market, the Bitfinex rate market has been relatively flat lately, with occasional 20% high-interest orders, and it is worthwhile to actively transact when you come across the right rate order, especially when there is a market for it, which deserves special attention.
BTC/USD Analysis (03-Nov-24)BTC/USD Analysis (03-Nov-24):
Sentiment: Bearish
Current Range: 68,336.16 - 71,636.16
Target: Anticipate further decline to 62,434.50 due to weekly liquidity sweep.
BTCUSDIsn't Price Action beautiful.... Price currently in-between Daily Bullish Swing Points. Also, Price just encountered Weekly High's, which has now caused Price to resist those levels. Close of today is the close of the week, & I'll then be dropping a video breaking down my viewpoint & thought process behind Price Action. Stay Tuned!!!!
_SnipeGoat_
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Bitcoin can breach retracement level and resistance levelBitcoin could not break ATH and once again fall to the retracement level and also break ascending triangle it is the sign bitcoin should go down and retrace more to the given levels in chart. bitcoin never go up without doing retracement so here we need a retracement of 63K for Bullish trend.
BTC price projection for November based on historical returnsI got data from CoinGlass looking at Bitcoin historical returns in November since 2013.
BTC has accumulated 42.78% gains on average. With seven positive years out of eleven, November also has a median return of 7.12%, from opening (1) to closing (30).
In particular, November’s best year was 2013 with 449.35% gains from day one to 30, followed by 2017 and 2020, with 53.48% and 42.95%, respectively. Meanwhile, 2018’s bear market resulted in -36.57% returns in November for Bitcoin, being its worst year followers by 2019.
Bitcoin opened November 2024 at $70,272.
So, if you project this price for the end of the month based on historical average and median returns, BTC could reach a range between:
Median (7.12% = $75,275)
Average (42.78% = $100,334)
This, of course, is just for your entertainment, and the analysis shouldn't be used in isolation to make any financial decisions. I hope you enjoyed it.
All things considered, Bitcoin price is impossible to predict with precision, as the market is extremely volatile and uncertain. Investors should understand what they are buying and consider multiple factors before pressing the button.
BTC/USDT W
In the event of a strong breakout and a weekly close above the white line, which is acting as resistance, the next price target is $250,000. As long as it remains below this line, there is a possibility of a drop to $50,000 and even $40,000.
forget 70k level, look out for this importanlevel to surpass... As I mentioned in my previous analysis, I don’t care about reaching 70k; what matters to me is if it can break past the zone at $71,890.
Everyone is excited that BTC is back at 70k (myself included), but guess what happened next? The price touched my line at $71,890 and didn’t break through!
This is simply because I see more difficulty here, as it's a zone with a greater concentration of institutional orders and has historically been strongly rejected.
These last three candles give me the impression that the bear market is nearing its end, so keep a close eye on the upcoming week. But remember, it’s just an impression — the price is always trying to tell us something through its candles, and it’s our job to interpret it correctly.
Best regards, and let’s hope that’s the case!!
TRADE SAFE!
BTC/USD Weekend MovePotential BTC/USD Directional move for the weekend as we head our way out of the premium zone into discount.
4hr chart:
Key levels of $69,859 would need to be mitigated to show any further strngth to the upside, however we have already sweept the liquidity resting at the 4hr fair value gap and price action seems to be having a bearing reversal pattern with the 20 ema heading to cross the 50 along with the 50 changing trajectory to face to 100.
This move could be to tap into the decisional and extreme order blocks at $68,171 and $67,271 could then allow for a reversal and rightly so placing it conveniently within the discount zone on the PD array, the MACD would be sitting below 0 making it an optimal area for entry on the buy side as long as we get a clean reaction off $66,101, which would sit us perfectly on the 200EMA.
Failing that we'll continue to head down to test $63,626 and at that pointthis would be the beggining of a bearish reversal on the 4hr. Certainly on the daily:
Which would make sense since we seem to seem to have reached heavy resistance to the upside on the weekly: giving us more confirmations that we are in premium so sells are imminent as a liquidity grabe before heading into a markdown phase or we pull back up to continue the ranging market structure.
Happy Trading and a good Sunday too you all.
Falls in price deceive. Bitcoin's Daily Chart is Demand-driven!
I know Bitcoin sold off really quickly about 48 hours ago trying to reach higher highs and resistance. Price also made no further attempts to retest the breakout high price, but not yet.
Daily chart is attached. It looks indicative of higher prices to my eyes, but we only see what we see. If I am missing something more bearish please write in the comments. It's a learning curve for us all.
Quickly my reasons, Bitcoin switched to a Demand-channel in recent months, you know higher highs and higher lows, now recently Bitcoin price has remained in the upper part of channel, for me that is a bullish sign. Check the chart. Thanks for reading.
BTC IS LATEPretty calm weekend for now but BTC should get back to HH levels before testing the blue line again ;
the red circle shows the average area where BTC could break back down and fall to the 68/9s again.
Recommended Books for a Trader from Beginner to ExpertHere is my subjective list of recommended books for traders. While there is some overlap in the material—especially regarding technical analysis and risk management—each book offers unique concepts and tools, enriching your learning path and expanding your skillset. I'm not sharing any links but all books are easily accessible on the internet.
Beginner Level:
1. “Trading the Trends” by Fred McAllen
This book introduces readers to the fundamentals of market operations, technical analysis, and option trading. McAllen, a retired stockbroker and active investor, emphasizes the importance of recognizing market trends early and provides strategies suitable for long-term investing. The book includes real-world examples to help readers understand and apply trend-trading techniques effectively.
2. “How to Swing Trade” by Brian Pezim & Andrew Aziz
Co-authored by experienced traders, this book focuses on swing trading strategies, which involve holding positions for several days to weeks. It covers topics such as identifying profitable trades, managing risk, and understanding market psychology. Additionally, the book introduces fundamental analysis concepts, aiding traders in making informed decisions. Andrew Aziz is the founder of Bear Bull Traders, a community of independent stock traders and analysts.
Intermediate Level:
3. “Charting and Technical Analysis” by Fred McAllen
In this comprehensive guide, McAllen delves deeper into technical analysis, teaching readers how to interpret price movements and market trends. The book covers various charting techniques, candlestick patterns, and indicators, providing readers with the tools needed to make informed trading decisions. It's designed to help traders recognize market tops and bottoms, entry and exit points, and understand the dynamics of buying and selling pressures.
4. “How to Day Trade for a Living” by Andrew Aziz
This book offers a comprehensive overview of day trading strategies, including risk management principles and the configuration of stock screeners. Aziz shares his personal experiences and insights, making complex concepts accessible to intermediate traders. The book also provides guidance on developing a trading plan and maintaining discipline in the fast-paced world of day trading. Andrew Aziz is the founder of Bear Bull Traders, a community of independent stock traders and analysts.
5. “The Wyckoff Methodology in Depth” by Rubén Villahermosa
Villahermosa provides an in-depth exploration of the Wyckoff methodology, focusing on principles such as accumulation/distribution, markup/markdown, cause-effect and other. The book includes numerous case studies that demonstrate the application of these techniques, making it suitable for both day and swing traders. Readers will gain a solid understanding of market cycles and the behavior of different market participants.
Expert Level:
6. “Wyckoff 2.0” by Rubén Villahermosa
Building upon his previous work, Villahermosa introduces Volume Profile analysis and integrates it with Wyckoff principles. This advanced material is designed for experienced traders looking to deepen their understanding of market dynamics and enhance their trading strategies. The book provides detailed explanations and practical examples to help traders apply these concepts effectively.
7. “Markets in Profile” by Jim Dalton
Authored by a renowned industry expert, this book explores Market Profile analysis, a tool used by many traders to understand market behavior. While it may not be highly practical for all readers, it offers substantial insights and encourages traders to think critically about market structure and participant behavior. The book emphasizes the importance of context in trading and provides a framework for understanding market movements.
All Levels:
8. “Trading in the Zone” by Mark Douglas
Focusing on trading psychology, this book addresses the mental aspects of trading, such as discipline, confidence, and risk perception. Douglas provides insights into developing a winning mindset and overcoming common psychological barriers that traders face. It's a valuable read for traders at any level seeking to improve their mental approach to trading.
Let me know what you think
BTC 120k by Dec 30 2024 - Jan 5 2025Following previous highs taking into consideration all time highs will happen during or after election Nov 5.
BTCUSDT - Bullish - Break of Parallel Channel BINANCE:BTCUSDT is looking bullish with the break of a parallel channel and looks set for creating all time highs in the coming weeks!
Bitcoin PerspectiveMany people have been confused by this Bitcoin cycle. Here I offer a different perspective taking into consideration both the halving dates and US Interest Rates.
Keep in mind that interest rates tend to have a lagging effect on the market.
Observations:
- Slightly lagging behind interest rates higher rates seem to suppress Bitcoin's upward movement. Cause consolidation.
- When interest rate hikes paused Bitcoin immediately started climbing.
- Interest rates did not start rising until after the 2nd halving.
- Interest rate hikes had already paused before the 4th halving.
- During times of low interest rates Bitcoin has seen large growth.
- (Outside this chart) The last 2 times the FED started cutting rates we reached 0.25 in less than 1 1/2 years.
- The average Bitcoin Bull Cycle lasted between 756 days and 826 days.
- We are currently 665 days into this cycle.
I'll let you decide what this all means. I just thought I would share my observations.
bitcoin is copying golds monthlymade this one for gold a couple years ago (click on it and look further back) and turns out its all coming true
for bitcoin, buy the handle.
11/1/2024 BTCUSD. Daily and hourly11/1/2024 BTCUSD.
Hourly Buy above 70,257
Hourly sell below 70,003
Daily is midrange between buy line and BKH point.
Bitcoin Approaches All-Time HighMarket Update - November 1 2024
Fueled by positive market sentiment, the price of bitcoin exceeded $73,100, just shy of its all-time high: The Fed’s decision on rate cuts could further fuel a price increase, but bitcoin pulled back Thursday toward $70,000 amid a broader tech sell-off.
US spot bitcoin ETFs recorded $870 million in inflows on Tuesday, led by BlackRock’s IBIT with $629 million: It’s believed that bitcoin’s swelling price might be contributing to investment in these funds.
Florida CFO Jimmy Patronis has requested an evaluation of the feasibility of adding bitcoin to the state’s public pension funds: The state of Florida has typically shown keen interest in crypto initiatives, with Governor DeSantis having made proposals to allow businesses to pay tax in bitcoin in 2022.
Hong Kong Exchanges and Clearing Ltd. (HKEX) will launch the “HKEX Virtual Asset Index Series” on November 15, providing reference prices for BTC and ETH during the Asian trading day: The indexes aim to offer transparency and support for virtual asset investment decisions in the region.
Weekly sales of NBA Top Shot NFTs have hit a six-month peak, with 43,600 NFTs sold as of October 27, marking a 94% jump from the previous week: Renewed excitement from the season opener is driving the surge in activity after a slow offseason.
Bitcoin Surges Past $73,000, Pulls Back on Thursday
Bitcoin climbed above $73,000 Tuesday, marking the first time it breached this level in over seven months. The renewed surge comes near the end of a strong year for bitcoin, partly driven by the SEC’s approval of spot bitcoin ETFs and anticipated rate cuts in the US. Tuesday was also reported to be bitcoin’s biggest trading day in months, as volumes skyrocketed. However, the price of bitcoin retreated Thursday, pulling back toward $70,000 as the broader tech market recorded mixed earnings results.
Federal Reserve decisions in particular have been playing a role in bitcoin’s recent rally, with bitcoin rising from around $54,000 in early September as expectations for a rate cut increased. A majority of analysts currently anticipate a 25 bps cut November 7, which could drop rates to the 4.5% to 4.75% range. If this comes to be, it would most likely add to the current bitcoin trading frenzy.
Some analysts are bitcoin to climb even higher before the end of the year as market conditions become more favorable. It could depend on numerous factors, and will most likely be influenced in some form by the results of the upcoming US presidential election.
💱 Topic of the Week: Traditional Lending vs. Crypto Lending
🫱 Read more here
bitcoin pull back and resurge to new all time high We are seeing a rising wedge pattern on the 4 hr and daily charts ,which the distance at the beginning of the rising wedge pattern indicates a drop to around $62,800.00 . I would put in a long position at $62,800.00 with a tight stop loss. And with the uncertainty of the up coming election pushing the stock market down crypto is following suit
