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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
Bitcoin and altcoin overview (October 24-25)Yesterday, as expected, Bitcoin dropped to the next buyer zone of $66,000-$65,100 (volume reaction) and bounced back. At the moment, we are within the local selling zone of $66,900-$67,600 (volume zone). The movement has stopped, but no abnormal activity has been observed, so if this zone is breached in the upward direction, long positions should be considered. If a downward movement develops from the current zone, attention should be paid to the reaction at the local low of $65,250; in case of a false breakout, we also consider going long. Buying zones: $63,100-$62,500 (mirror volume zone), $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone). Selling zones: $70,000 level (seller market activity), $72,000 level (seller market activity). Interesting altcoins. SOLUSDT currently looks stronger than the market. We are considering continuing the long position upon retesting the volume zone of $170-$164.6.
by Crypto_robotics
BITCOIN → False Breakout & Bearish Engulfment ↓ BINANCE:BTCUSD entered a strong buying zone (68900) within the rally. BUT, the expected growth did not happen, the bulls could not realize the potential. A bearish engulfment of the last three bars is formed and actually - a false breakdown of the descending resistance... The growth formed from 59K is partly connected with the election race in the USA, economic revival in China, as well as economic news. But apparently, this energy is not yet enough for the price to easily overcome 68-69K with a target of retesting 71-73. The resistance zone of 68.4-69.4 is putting pressure. Buyers are taking profits, while bears, seeing the strong resistance zone, are trying to resist. The structure will break down if the price breaks 69400 At the moment, we see a bearish engulfment forming relative to the previous three bars, and this is a strong enough signal. Consolidation below resistance is forming, a small correction may be formed, the first target of which may be 65K, then 61-58-57. Resistance levels: 68400, 69400, 71500 Support levels: 66500, 65000 After the false breakdown, the price consolidation is formed below the resistance, which indicates the pressure from the sellers. This may provoke further downward correction. Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSDT ;) Regards R. Linda!
Short
by RLinda
56
correction befor direction in BtcBeautifully, from the level I expected, the price was rejected and formed the bottom of the descending range, although the reaction was so fast that it did not reach the entry point of my long stop, which of course did not give a good R/R in case of direct entry, and by the way, the same liquidity that is from itself Leaving it gives a reason to be caught and go down faster... Considering the liquidity of the liquidity trend line that is formed below the 4-hour premium range, when the price reaches the range of 68,000, which is the closest daily level in the premium range area. It is set for 4 hours and I am waiting for a short setup after receiving confirmation in the lower time frame, and if it crosses the 69,000 level, it is the last area that can be entered directly even if an indusment is formed.
Short
by MrHunterTradeInsight
$BTC About to make a (big) move?According to historical percentage pattern; BTC seems to be on the verge of a critical conjunction: Scenario A: Retest $38k, if it holds; retest previous ATH of ~79k. Afterwards start new (gradual) bull run to new ATH ~327k Scenario B: Bull run (gradually) to new ATH ~280k I think politics also plays a big role here, mainly US elections & ongoing worldwide conflicts. The more crazy things go, the more unpredictable / unexpected scenario takes place; i.e. Scenario A Otherwise, we're looking at a more stable Scenario B Safe trading 🙂
by TannerJ
Bitcoin Surge Continues! TP 3 Hit, Eyeing TP 4 Next!BITCOIN (BTCUSDT) 4H time frame Technical Analysis: Bitcoin (BTCUSDT) on the 4-hour timeframe shows a solid long trade with momentum intact. Price action has followed the upward curve supported by the Risological dotted trendline, providing a strong bullish foundation for the current rally. Key Levels: Entry: 61,732.3 Stop Loss (SL): 60,316.2 Target 1 (TP1): 63,482.7 ✅ (Hit!) Target 2 (TP2): 66,315.0 ✅ (Hit!) Target 3 (TP3): 69,147.4 ✅ (Hit!) Target 4 (TP4): 70,897.7 Observations : Bitcoin has already smashed through TP3, riding the wave of bullish momentum. The Risological dotted trendline is acting as strong support, indicating that TP4 is highly within reach. With TP3 completed, Bitcoin continues its bullish momentum. Keep an eye on the final resistance at TP4, as the price is showing no signs of slowing down!
Long
by ProfitsNinja
1
BTC BUY SET UP 66$k - 70$kLast week price action was bullish with a candle closure around 69k$ which gave a good MSS (Market structure shift) on both weekly, daily and 4hr time frame. Although we need MSS to happen on monthly candle as well, for that to happen, we need price to get above 70k$ first this week or early next week, which is very possible on this buy set up I'm sharing. It's clear this week candle has made a U-turn from 65k$ zone which was last week candle PD arrays( FVG) and previous week low..
Long
by omotoshot90
Trading Signal: BTCUSDT MovementDirection: Buy Enter Price: 64262.7 Take Profit: 65067.13333333 Stop Loss: 63079.13333333 We have identified a potential upward movement for the BTCUSDT pair. This recommendation is generated using the EASY Quantum Ai strategy, which analyzes various market factors to provide accurate insights. Rationale: 1. Technical Analysis: Our algorithm detected a strong bullish trend in the momentum indicators. Moreover, the moving averages suggest an upward crossover, supporting the buying direction. 2. Market Sentiment: There's a positive sentiment surrounding Bitcoin, with increased institutional interest and favorable news. This external market condition adds bullish pressure. 3. Volume Analysis: A significant increase in trading volume indicates strong interest at the current levels, typically preceding upward movements. Please note that trading involves risks, and it's vital to follow your risk management strategy. Enter the market only if you agree with the analysis and risk assessment.
Long
by ForexRobotEasy
Bitcoin Whale Record for 3 years: what will it lead to?The number of Bitcoin whales - large holders holding more than 1,000 BTC — has peaked since January 2021. The number of such whales has reached 1,678, which indicates an increase in the savings of large investors. This may signal an upcoming rise in bitcoin prices, especially against the background of increased demand for exchange-traded funds (ETFs) in the United States. However, the activity of retail investors, on the contrary, slowed down. Their savings have increased by only 1,000 bitcoins in the last 30 days. Against this background, bitcoin is trading around the $67,000 mark, approaching new records.
Long
by RocketTema
10/23/2024 bitcoin Idea and elliot wave counting.For now, I'll count this trade as a winning trade since it has reached the target price. The risk-reward ratio is 1:7, so it seems to have been a pretty good trade. At the moment, I've taken profit on my all short position. The wave that emerged from the end of the small green ABC correction looks like an impulse and appears to be really strong, so it seems likely that there is one more wave left going up. I will need to decide whether to enter again after observing the price movement at the 1 which is Fibonacci 618 to catch the downtrend.. or I will wait longer until it breaks through the previous high and the blue impulse wave completes before entering again.
by hcinteractivegames