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BTC/MOON/WHEN/NOW? - BTC to 73% market Dominance? I am no astronomer but I think I might see the moon! This breakout is significant. Look at the channel inside the major channel, the one we just broke out of a week or so ago. Now imagine in perspective a similar run as we break out of that much larger channel. Technically this is not confirmed, confirmation would be after we pull back some and prove that old resistance as support now but this breakthrough is still quite significant. Order books still arent growing much but that probably just means traders dont seem to be day trading much more, so likely this growth is from a large buy and hold movement. I do suspect more traders will be fattening up the order books soon though, its a day trader friendly environment ATM. Looking at the BTC Dominance chart, which is also a thing, anything that can be charted really has patterns that can be observed, so anything that can be put into numbers can be charted and patterns can be found. BTC Dominance is how much of all the market capitalization of all the crypto belongs to BTC, what % of market dominance is from BTC valuation. And well we broke out a while back, it was already an indicator of a jump in dominance to come but many times BTC gains dominance when the market crashes as well so BTC dominance rising is not always a good thing. What happens is that BTC drops 5% and Alts (mostly contributed to by ETH's marketcap) drop 10-20%, that is pretty frequent, well that increases BTC Dominance. Of course the other way, BTC runs but runs harder than alts, and that doesn't have to be the same % because BTC already has such a massive market cap if it moves 1% it will already add more market capitalization than the entire market cap of many Cryptos. Here you can see that BTC Dominance break out, it seems to have staged a run. This chart insinuates that we could see BTC claim 73% dominance before resisting. In general I am likely pretty bullish on Crypto for the foreseeable future. I do recognize that BTC and the USD are on a collision course. If there is a large outflow of USD to crypto, the US could implement capitol controls as most countries do in that situation. It could be a long time but the more viral BTC runs, the more imminent and fast approaching a conflict with the USD and BTC will be. On top of potential outflows of USD to crypto triggering monetary capital controls, this would hugely degrade the United States ability to control the globe with global audits, sanctions and monetary control if the USD starts losing to BTC globally. In both cases BTC would be seen as a threat to Americas security and our govt could act against it, or if the USA does not take action against it somehow, it could finally rid the world of the tight grip America has on it. I really don't know how long for either of those scenarios to play out, only I am confident these are tangible conflicts of interest that will face the US and Crypto some time in the future. In the meantime, there is a lot of opportunity to take advantage of. If you are trading make sure you always DYOR and build a tool belt of knowledge, only day trade with what you can afford to lose, dont play with margins unless you are really comfortable with losing everything you are trading with. Ideally, use a stop loss and capture gains with a trailing stop loss if possible, especially if you are doing a momentum trade, getting on the wrong side of an asset that just ran 50% and now pulling back can wreck your funds fast. As always, be vigilant and dominate.
Long
by EncryptShawn
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Long
by arzdigitalistha
BITCOIN (BTC) TO RALLYIt is observed that price is traded within a band (blue channel) forming a pattern known as the bullish flag which is highlighted (green) pole and a trading channel (blue). This present a massive opportunity as this chart structure indicates a prospective price rise of about 70%. This also aligns with the other fundamentals like the US elections in November as usually market makers will take position before significant events. The idea is to buy at the lower troughs of the blue channel while expecting a price break-out to about $88,000 ACTION PLAN 50,560-53,770 -- BUY 50,550 -48,659 --WAIT/ DO NOTHING BELOW 48,396 --SELL However, this trade idea gives a risk reward ratio of 8.9. Goodluck!!
Long
by lexcel
10
Market overviewWHAT HAPPENED? Last week was a landmark for the entire crypto community. Against the background of the announcement of the preliminary results of the US presidential election and the leadership of Donald Trump, bitcoin resumed its upward movement. It almost completely ignored all resistance zones and updated its ATH, adding more than 20%. During the growth, an area with abnormal volume activity was formed, which cast doubt on further growth. But after a full-fledged positioning, it’s safe to say that this isn’t the end of the upward rally. WHAT WILL HAPPEN: OR NOT? There are practically no hints of a reversal or major fixations right now, so joining short positions is undesirable. The best outcome for us is a correction to a large support zone below, from which it’s possible to join the longs. There are no sell zones above, because the market sees these marks for the first time. Pay attention to the round numbers $90,000, $100,000 — they’re the most likely to go into correction. Also, track the formation of extremely high volumes, they can provoke a stop and a price reversal. Buy zones: $77,000-$74,000 (major volume zone), $71,400-$70,800 (mirror volume zone), $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity). I MPORTANT DATES Macroeconomic events this week: • Tuesday, November 12, 7:00 (UTC) — publication of the German consumer price index for October; • Wednesday, November 13, 13:30 (UTC) — publication of the US consumer price indices for October and 2024; • Thursday, November 14, 13:30 (UTC) — publication of the number of initial applications for unemployment benefits and the US Producer Price Index (PPI) for October; • Thursday, November 14, 20:00 (UTC) — speech by Fed Chairman Jerome Powell; • Thursday, November 14, 23:50 (UTC) — publication of Japan's GDP for the third quarter of 2024; • Friday, November 15, 07:00 (UTC) — publication of UK GDP for October, for the third quarter and for the whole of 2024; • Friday, November 15, 13:30 (UTC) — publication of the basic index and the volume of US retail sales for October. *This post is not a financial recommendation. Make decisions based on your own experience.
by Crypto_robotics
1
now sell to the lowTechnical Analysis: Look at key support and resistance levels on price charts. Identify any trends or patterns that may indicate a reversal or a continuation of price movement. Set Alerts: Use trading platforms to set price alerts for specific levels where you would consider selling. Monitor Market Sentiment: Stay updated on market news and events that could influence BTC prices. Plan Your Exit: Define your target selling price and stop-loss levels to manage your risks effectively. Practice Risk Management: Ensure you're not overexposing yourself to market volatility. If you're considering selling BTC, make sure to do your own research or consult with a financial advisor for tailored advice.
Short
by farzadzeraatkar
1
BITCOIN IS EXPLOADING BIG TIME. TECHNICAL ANALYSIS + TRADE PLANPrice Action & Trend: Bitcoin's current price is around $80,853. The trend is notably bullish, as the price has been in an upward movement with higher highs and higher lows over the past month. The recent price surge indicates strong bullish momentum, potentially aiming for higher resistance levels. Indicators: Market Cipher B: This indicator shows divergences and momentum shifts, often used for trend reversals. Current green dots indicate bullish momentum, and the increasing wave strength suggests strong upward pressure. RSI (Relative Strength Index): RSI is around 74.81, which is within the overbought zone (above 70). This could mean a potential correction or consolidation period might be approaching, as prices may have risen too quickly. Stochastic RSI: The Stochastic RSI shows a value around 89.86, which is also in the overbought zone. This indicator further supports the potential for a short-term pullback or consolidation. HMA Histogram (Hull Moving Average): The histogram shows bullish momentum, but there are hints of divergence, which could indicate a slowdown in bullish strength. Support and Resistance Levels: Support: The nearest strong support is around $72,000. A more significant level sits at approximately $63,000. Resistance: With Bitcoin at $80,853, the next major resistance is likely near $85,000 and then potentially $92,000. Volume: Although volume data isn’t available in this chart, the current price movement suggests significant buying pressure, likely driven by strong sentiment and high interest. Trading Plan Long Position (Buy): Entry: A conservative entry would be to wait for a pullback around the $78,000-$80,000 range, which could act as a minor support in the current bullish setup. Stop Loss: Place a stop-loss just below $72,000, as a break below this level could indicate a shift in trend. Take Profit: Set a target near $85,000 initially. If bullish momentum continues, the next target would be $92,000. Risk-Reward Ratio: Ensure a minimum risk-reward ratio of 2:1 for this trade to manage risk effectively. Short Position (Sell): Given the overbought conditions on both the RSI and Stochastic RSI, a short-term short position could be considered. Entry: Consider shorting near $85,000 if the price reaches this level quickly without consolidation. Stop Loss: Place a stop-loss above $87,000 to protect against a continued breakout. Take Profit: Target a pullback to the $78,000 region or further down to $72,000 if bearish signals strengthen. Risk Management: Limit exposure to a small percentage of the portfolio per trade (e.g., 1-2%) to manage volatility. Monitor key indicators (RSI, Stochastic, Market Cipher B) for any signs of trend exhaustion or divergence that could signal a reversal. Market Sentiment & News Monitoring: Keep an eye on market news that could impact Bitcoin’s price, such as regulatory announcements or macroeconomic factors. Bitcoin’s price can be highly sensitive to sentiment-driven events, so being adaptable to changing market conditions is essential.
by elfabiiani
2
BTCUSDT Explodes After Trump's Victory – Target 100,000 USDT?Dear traders! 🐂 So Trump has won by a landslide, and BTCUSDT has quickly surged to around 75,000 USDT! Moreover, with the extremely potential "cup and handle" pattern and the signal from the EMA 34/89 reinforcing the buyers, the uptrend is still very strong. Therefore, if BTC maintains above the support zone, the next explosion could push the price up to 100,000 USDT! What do you think about this common view?
Long
by Boss_Saylor
2
Overcoming resistance, Bitcoin faces the risk of discountBitcoin (BTC) has adjusted after a recent strong increase, currently trading around US $ 76,300, down 0.27% in the day. On the 4 -hour chart, although the increasing trend is still supported and parallel price channels have been broken, there are signs that show a potential peak about 77,000. The current support level is about 74,727 USD. If this level is surpassed, it can cause BTC to decrease deeper, capable of reaching $ 72,646.
Short
by Boss_Saylor
BTC arriving at BIG resistance, early! but....I am bearish BUT, with bullish optimism and a possibility of big a big bull, based on current market momentum. This is actually a great place and likely place for it to pull back based on its prior pattern, but this momentum could prove otherwise. I am marking this neutral and no one wants to review neutral reviews they want to see bull or bear. The thing is we are at a pivotal point that will make the case for either a prolonged bull or bear market. I am not sure if we will break out or break down but I have painted the picture of how we are at that point right now. I will post again bull or bear once it seems to have committed to one or the other but otherwise just keep your eye on the trend lines. ------------------------------------------------------------------------- Here we are around $1000 less of $82.5k and we got here early. We are likely to have resistance here but breaking this line would be really significant and likely signal a parabolic crypto market to come, massive. The odds would put it at pulling back here as it has already twice in the past 4 years, and at minimum some resistance where it can consolidate potentially all the way up until late Dec before making a decision. It may still be December, but really the market feels like it might have enough fire to push through it real soon. ------------------------------------------------------------------------- Order books have actually been fairly range bound all year, we are at the high end but its nothing that screams some large increase in participation of day trading. Per CoinMarketFlow, global order books are around a -10% ratio on a 1d candle average at above 10% depth of market. This is actually ideal as it represents day traders with limit orders that expect the price to rise and less that expect it to fall. This is bullish ATM. I have been seeing lots of alts breaking resistance and converting it to support, lots of chance for jumps. Right now seems like a day traders paradise with 25%-50% sometimes 100% runs in a single day, from lower liquidity, low circulation coins especially. Right now the fire of the market makes me think we may break the resistance and truly fly to the moon. But the fact that order books have only grown by about 10%-15% or so over the last year, does make me question the durability of the run without more gas for the fire so to speak. If BTC breaks that 82.5k and proves it as support, it is as bullish as it gets, like hyperbolic potential. On the other hand, if we resist here again, as usual, then it could be a lot of prolonged pullback with a potential absolute low between $30k-$40k probably - based on this chart you are looking at now and considering a pullback like it did the last two times. So its more of a bearish layup that looks like it has the possibility to convert bullish. I would caution to be vigilant at or near this line and let it choose first before taking any real action. As usual DYOR but consider this trendline as one of your many things to watch to help you make more informed decisions.
by EncryptShawn
Bitcoin’s Wild Ride: Will It Surge Back to $52K?Bitcoin has been trading in a range between $60,000 and $70,000. Here are the key scenarios: Bullish Breakout: If the price breaks out above the $71,000 to $73,000 resistance area, it would signal the end of the ranging movement. This breakout could lead to a continuation of the bullish trend. Bearish Breakdown: Conversely, if Bitcoin falls below the $58,000 to $60,000 support area: We might expect a bounce around the $52,000 level or even as low as $47,000.
Short
by Sgt_jerxxl