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Bitcoin and altcoin overview (October 29-30)Yesterday, we continued to see growth in Bitcoin and broke through the key level of $70,000. A new support zone has formed from pushing volumes in the $70,000-$68,900 range. Currently, there are no major corrections, but a slight pullback within the nearest buyer volume zones is possible. Priority remains on buying, and short positions should not be considered for now. Buying zones: $70,000-$68,900 (pushing volumes) $67,500-$66,800 (maximum volume in the range) $63,100-$62,500 (mirror volume zone) $60,000-$59,000 (buyer activity) Selling zones: $70,000 level (seller market activity) $72,000 level (seller market activity) Interesting altcoins: We have two similar setups on AVAXUSDT and DOGEUSDT . Both coins show positive dynamics. We’re joining longs on a test of the $0.16-$0.156 zone for DOGE and $26.5-$26.2 for AVAX . Don't forget to wait for a reaction to confirm!
by Crypto_robotics
A weak breakout in Bitcoin and a continuation scenarioThe previous analysis was fielded even though there were many reasons to be rejected from this area... even the open interest had reached its highest level and we were expecting a long squeeze, but the market is either going up or down and there is no other option. As we get closer to the American elections, we should expect other unreasonable behaviors from the market, although we are not the ones who define logic for the market, our logic may work sometimes and sometimes not, we can only adapt ourselves to the market conditions. let's give According to the current conditions, we see that the breaking of the ceiling of 69,000 has not been done with a large volume, which shows the weakness of the trend, but we can expect the continuation of the movement until the historical ceiling until the date of the election and being rejected downwards to provide liquidity and start the main upward movement. to have However, for the time being, we should monitor the price behavior and in case of weakness in the pullback correction to 69000, we should look for long scalps, because all the previous ceilings will become liquid according to the order flow to bring the price to the previous historical ceiling of 73880.
Long
by MrHunterTradeInsight
Phemex Analysis #32: BTC to $70,000 Amidst US Election VolatilitPHEMEX:BTCUSDT.P has surged past the $70,000 mark and is now testing the formidable $72,000 resistance level. This bullish momentum has ignited excitement among crypto enthusiasts, but the looming US Presidential Election adds an element of uncertainty to the market. Potential Scenarios 1. Bullish Continuation: If Bitcoin successfully breaks through the $72,000 resistance level, it could trigger a significant upward movement.Strong buying pressure and positive sentiment could propel the price to new all-time highs. A clear and decisive victory for Donald Trump in the US Presidential Election could further fuel bullish momentum. 2. Bearish Reversal: If Bitcoin fails to break through the $72,000 resistance level and encounters strong selling pressure, it could lead to a price correction. A highly contested or uncertain election outcome could create volatility and risk aversion among investors, potentially leading to a sell-off. Trading Strategies I. Bullish Strategy: Buy the Breakout: If Bitcoin breaks above the $72,000 resistance with strong volume, consider buying. Take Profit: Set a take-profit target at a higher resistance level, such as $80,000. Stop Loss: Place a stop-loss order below a key support level, like $65,000, to limit potential losses. II. Bearish Strategy: Short Sell: If Bitcoin fails to break above the $72,000 resistance and starts to decline, consider short-selling. Take Profit: Set a take-profit target at a lower support level, such as $65,000 or $58,900. Stop Loss: Place a stop-loss order above the $73,850 (all-time high) resistance level to limit potential losses. III. Buy the Dip Strategy: If Bitcoin experiences a correction during a bearish scenario and you maintain a long-term bullish outlook, consider buying the dip at key support levels like $65,000 or $58,900. Short-Term Profit: For short-term gains, you can take profit at $72,000 or $73,850. Stop Loss: Place a stop-loss order at the next support level. For example, if you enter at $65,000, consider placing a stop-loss below $58,900. Conclusion Bitcoin's recent surge and the upcoming US Presidential Election have created a dynamic market environment. While the potential for further upside exists, it's crucial to remain cautious and manage risk effectively. By carefully analyzing market trends, understanding key support and resistance levels, and implementing appropriate trading strategies, investors can navigate the volatility and capitalize on potential opportunities. Tips: Elevate Your Trading Game with Phemex. Experience unparalleled flexibility with features like multiple watchlists, basket orders, and real-time adjustments to strategy orders. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Bitcoin 1H Buy Position SignalMEXC:BTCUSDT As soon as the IDM.i has been grabbed, we waited for the SCOB to form. And a few hours ago the SCOB has been formed and it allowed us to enter the Buy Position. The target is reward 2 and 3 at least. But always remember: Trading is a long-term game which is survival depends on the Risk & Money Management we planned before. "KEEP CALM & OBEY YOUR PLANS." I will update Bitcoin regularly. Happy trading.. Cheers, Aurio #Crypto #Trading #Bitcoin #markets #Finance #Forex #BTC
Long
by x-Aurio
Buy Position on BTCusdt 1HMEXC:BTCUSDT Why should we buy here? Simply because this MPL is our last POI we have on Major Structure in 1H time frame. As you can see Also we can open 2 position at the same time and price, but manage them differently. In other words we can set partial exit at 2.5 reward & 7 reward. It is better to have 2 targets, not more and not less.. "KEEP CALM & OBEY YOUR PLANS." I will update Bitcoin and Gold regularly, Happy trading.. Cheers, Aurio #Crypto #Trading #Bitcoin #markets #Finance #Forex #BTC CRYPTOCAP:BTC
Long
by x-Aurio
Following lines interpretation of the patterns Good evening sirs , today we will be doing analysis of candlesticks with pivot points and cycles. Please be sitting in your seats to receive it well better! for further instructions see attached notes see attached notes for further instructions see included instructions for notes to further instructions see further instructions for attached notes regarding further instructions on how to see attached notes (that may or may not contain) further instructions.
by Tech-Temptress
BTC: Imminent Breakout with Final Swing Trade OpportunityA breakout for BTC is on the horizon. We’ve seen a small breach of the upward trendline, and with momentum building, we’re now watching closely for a decisive break of the upper trendline. If this happens, Wave 4 will be complete, leaving only Wave 5 of 5 of 5 remaining. Once a full open and close above the trendline is confirmed, I’ll be going long, planning to ride it until Wave 5 completes. This could be the final swing trade of the season before a lengthy corrective phase sets in—a potential year-long winter of correction. If you’re looking for a last big trade before the market cools, now’s the time to prepare.
Long
by cryptechcapital
1
Market overviewWHAT HAPPENED? Last week, as expected, we broke through the sloping line and started a downward movement. Only the strong volume zone of $66,000-$65,100 (volume reaction), which we noted, could stop it. After receiving a reaction from the buyer, bitcoin was trading sideways for the rest of the week. WHAT WILL HAPPEN: OR NOT? At the moment, we’re above the formed zone of maximum volumes of $67,500-$66,800. There is a high probability of testing the levels formed above. The cumulative delta is also on the side of the "bulls", the same pattern of absorption of market sells by limit orders is noticed. We consider changing the scenario to a downward one only with a true breakdown of the local minimum of $65,250. Buy zones: $67,500-$66,800 (maximum volume of the sideways range), $63,100-$62,500 (mirrored volume zone), $60,000-$59,000 (buyer activity), $55,000-$53,800 (volume zone), $57,000-$56,400 (volume zone). Sell zones: $70,000 level (seller market activity), $72,000 level (seller market activity). IMPORTANT DATES • Tuesday, October 29, 14:00 (UTC) — publication of the US consumer confidence index for October and the number of open vacancies in the US JOLTS labor market for September; • Wednesday, October 30, 9:00 (UTC) — German GDP publication; • Wednesday, October 30, 9:30 (UTC) — press conference of the Swiss National Bank; • Wednesday, October 30, 10:00 (UTC) — the UK autumn budget forecast; • Wednesday, October 30, 12:15 (UTC) — publication of changes in the number of people employed in the non-agricultural sector from the US ADP for October; • Wednesday, October 30, 12:30 (UTC) — publication of US GDP for the 3rd quarter; • Wednesday, October 30, 13:00 (UTC) — publication of the German consumer price index for October; • Thursday, October 31, 1:30 (UTC) — publication of the index of business activity in the Chinese manufacturing sector for October; • Thursday, October 31, 3:00 (UTC) — announcement of Japan's interest rate decision; • Thursday, October 31, 10:00 (UTC) — publication of the consumer price index in the Eurozone for 2024; • Thursday, October 31, 12:30 (UTC) — publication of the basic price index of US personal consumption expenditures for September and 2024, as well as the number of initial applications for US unemployment benefits; • Friday, November 1, 12:30 (UTC) — publication of average hourly wages, changes in the number of people employed in the non-agricultural sector and the US unemployment rate for October; • Friday, November 1, 14:00 (UTC) — publication of the index of business activity in the manufacturing sector from the US ISM for October; • Friday, November 1, 14:45 (UTC) — publication of the index of business activity in the US manufacturing sector for October. *This post is not a financial recommendation. Make decisions based on your own experience.
by Crypto_robotics
RAG-GPT-4o run-time > 10.000 data The current market conditions for Bitcoin (BTC) present a complex scenario. With no open positions currently, we have the flexibility to capitalize on short-term price movements over the next 8 hours. The bullish sentiment driven by political factors and options market predictions suggests potential upward momentum. However, technical indicators across multiple timeframes indicate overbought conditions, which could lead to a pullback or consolidation. Data Analysis Open Interest: Moderate increase, suggesting growing trader engagement. Weighted Funding Rate: Positive, indicating a slight bullish bias. Liquidation Data: Recent spike in long liquidations, signaling caution for new long entries. Binance Data Trading Volume: Consistently high with significant buy-side pressure. Expert Predictions: Potential continuation of the bullish trend but with caution due to overbought technical indicators. Analysts: CryptoCapo and RektCapital suggest waiting for a pullback before entering new long positions. CoinMarketCap Data 24-Hour Trading Volume: $45 billion. Circulating Supply: 18.7 million BTC. Market Cap: $1.28 trillion. Analysis: Volume spikes in the 1m and 8h intervals indicate active trading, supporting short-term scalping opportunities. Sentiment Analysis Market Sentiment: Predominantly bullish. Top Sentiments: "Bullish" and "FOMO". Implication: Aligns with market optimism but suggests potential volatility if sentiment shifts. Technical Analysis RSI: Overbought conditions across most timeframes, particularly on the 1h and 4h charts. MACD: Shows bullish momentum. Close to a potential bearish crossover on the daily chart. ADX: Indicates a strong trend on shorter timeframes, supporting the bullish outlook. Bollinger Bands: Price proximity to the upper band on the daily chart warns of a possible pullback. Key Levels: Support: Around $67,500. Resistance: At $69,000. Recommendation: Focus on short-term scalping opportunities while being prepared for potential reversals. Avoid entering long positions at resistance levels and consider shorting if bearish signals strengthen. Summary Given the mixed signals from technical indicators and bullish market sentiment, a cautious approach is warranted. The strategy should capitalize on short-term opportunities while remaining vigilant for signs of a reversal. Monitoring key technical indicators and market sentiment closely will be crucial for successful trades. Trade Recommendation Outcome: OPEN_SHORT Confidence Level: 78% (65%-90%) Current Price: $68,637.99 Stop Loss: $69,200 Take Profit: $67,800 Exit Point: $67,900
Short
by titankarma