Iran attacked Israel what impact can it have on Bitcoin?😱

Updated

#Bitcoin Weekly Technical Analysis 📈

Bitcoin surpassed its previous all-time high of $69,028, reaching a new peak at $73,773. Currently, it's trading above a strong support level ranging from $64,500 to $66,300, which is considered a robust technical support zone. As the week concludes, Bitcoin needs to hold above this support area.

The price of Bitcoin declined towards the week's end due to news about tensions between Israel and Iran.
If Bitcoin remains within this range, it could consolidate or potentially drop further. It's wise to observe and wait for the market to stabilize before making any decisions.

Stay tuned for further updates.

Note

#Bitcoin Weekly Update

Bitcoin closed the weekly candle above the support level, suggesting a potential bounce soon.

Currently, Bitcoin is trading above its 200-day moving average (MA) and an important horizontal support level. But it is below the Ichimoku cloud. For the bulls to feel more confident, Bitcoin needs to break above the Ichimoku cloud. However, if Bitcoin breaks below the 200MA and lowers support for an extended period, it could confirm a bearish trend.

Stay tuned I will keep updating.

#BitcoinHalving2024 #Crypto #BTCUSD

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#Bitcoin Update

BTC is approaching the lower support level, with the 200-day simple moving average (200SMA) providing additional support. A candle closing below this lower support would signal a shift towards a bearish trend.

Currently, I'm waiting for confirmation before making any decisions.

Stay tuned for further updates.

#DYOR #NFA

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#Bitcoin Update

In the 12-hour time frame, BTC bounced from the lower support and 50 SMA is also working as a support. A bullish move is expected from here,

But a sustained breakdown of the lower support and 50SMA would confirm bearish sentiment.

Stay tuned

#Crypto #BitcoinHalving

Note

"Be careful! There's a risk in the Bitcoin market right now. In about 13 hours bitcoin halving is happening.

this is my thought on the current market.

The current market look like, where prices go up temporarily. It's like a trick by big investors or 'whales'. They make the market look good to get people to invest, but it's not real. They put a lot of money in, making it seem like prices are going up. People who want to make money see this and jump in, hoping to profit. But it's a trap. When enough people have invested, the whales take their money out, along with even more profit. This leaves small investors with losses, and the whales with even more money. It's like being a snack for them. So, be careful when you see prices going up quickly in the market.
It might not be a good time to invest."

Let me know what you think about this!

Note

#Bitcoin Halving completed!
What do you expect now? What's your opinion on it?

#BitcoinHalving2024 #Crypto

Note

Bitcoin halving: Why it’s important for BTC scarcity

Good day, traders

The Bitcoin Halving has happened again.

~1st Halving (Nov 2012): BTC price was $12.0. It reached its highest price ever at $1163.
~2nd Halving (July 2016): BTC price was $638.51. Then, it skyrocketed to a new all-time high of $19333.
~3rd Halving (May 2020): BTC price was $8475. It later surged to a new record of $68982.
~4th Halving (April 2024): BTC price is now $63839. What will the new all-time high be?

What's different this time around?

1. A Bitcoin Spot ETF is in play.
2. Big institutions and investors are jumping in.
3. More people are aware of cryptocurrencies.
4. Governments are making new rules for cryptocurrencies.
5. Cryptocurrencies like Bitcoin are being accepted globally.

Let's get to the topic

Bitcoin's halving is a critical event that helps establish Bitcoin's value as a digital asset. It reduces the rate at which new Bitcoins are created, enhancing its scarcity and potentially positioning it as a reliable store of value for the digital era, more fluid than real estate or gold.

In the most recent halving, which occurred at the 840,000th block, the reward for mining a new block dropped from 6.25 BTC to 3.125 BTC. This reduction in mining rewards means that fewer new Bitcoins are entering circulation, making existing Bitcoins more scarce.

Karim Chaib, CEO of crypto platform Dopamine App, explains why this matters:

"Scarcity is a basic economic concept that impacts asset value. By design, Bitcoin becomes scarcer over time due to the halving events, which decrease its supply at a predictable rate."

Bitcoin's halving is built into its code and occurs approximately every four years, or every 210,000 blocks. The first halving was in 2012, when the reward went from 50 BTC to 25 BTC per block. Since then, the reward has halved again in 2016 and 2020, and now stands at 3.125 BTC per block.

This predictable scarcity sets Bitcoin apart from assets like gold, which can become less scarce over time as technology improves mining efficiency. Bitcoin, with its fixed supply limit of 21 million coins, is designed to be immune to inflationary pressures.

In summary, Bitcoin's halving events ensure its scarcity over time, boosting its potential as a valuable digital asset compared to traditional stores of value like gold.

This is just for informational purposes.

Thank you for reading.

Note

#Bitcoin Weekly Update

Bitcoin's weekly candle closed above a key support level, which is a positive sign for the longer-term outlook. The weekly chart suggests there might be a rebound coming soon.

Looking at the shorter timeframes, Bitcoin bounced back from an expected price range and has now broken through a local resistance level. However, it's currently trading below the Ichimoku cloud. For the market bulls (buyers) to gain more confidence, Bitcoin needs to rise above this cloud.
For now, we can expect a bounce towards higher resistance levels.

Stay tuned for further updates!

#BitcoinHalving #Crypto

Note

#Bitcoin has made a clear upward move, as seen in the daily and 12-hour candlestick charts. Expecting a retracing back to a support area for a retest, with expectations of continuing upward.

However, it's currently trading below the Ichimoku cloud. To boost confidence among buyers, Bitcoin needs to climb above this cloud.

On the other hand, there's a lot of activity on the blockchain, showing that the market is handling the pressure well.

Stay tuned for more updates
DYOR, NFA
#Crypto #BitcoinHalving

Note

#Bitcoin Update

BTC tested the support level as anticipated. Right now, it's encountering resistance from the Ichimoku Cloud. To push higher, we need to break through this resistance. On the flip side, if the price consistently falls below $61,500, it indicates a bearish trend.

Currently, the price is caught between these levels, so I anticipate that this week or the weekend will remain the same. However, expect some big moves next week as volatile news emerges.

Stay tuned for further updates.

DYOR, NFA

#Crypto

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#BTC FORMING SYMMETRICAL TRIANGLE PATTERN!

#Bitcoin is forming a symmetrical triangle pattern.

Resistance is coming from the Ichimoku cloud and the 100-day moving average.

The MACD crossover suggests a shift to bullish momentum.

It's recommended to wait for a clear breakout or breakdown of the triangle to confirm the next direction.

Stay tuned I will keep updating

#Crypto #DYOR #NFA

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#Bitcoin monthly candle is closing in 2 days and is retesting the previous all-time highs! 👀

#Crypto

Note

#Bitcoin liquidation heatmap indicates that while there's still liquidity to the downside around 62,000, there's substantial liquidity to the upside. The primary liquidity levels reside approximately between 67,300 and 67,500. On broader time frames, even more liquidity is evident around 71,500 and 73,000. Bitcoin tends to gravitate towards areas of high liquidity, implying a potential upward movement in the future.

#Crypto

Note

Funding rates across exchanges currently hover around the 0.01% mark, indicating a neutral stance in the market sentiment.

Neutral funding rates suggest a balance between long and short positions, with neither dominating the market.

When funding rates dip below 0.01%, it signals an increase in short interest, with fewer traders inclined to take long positions.

Negative funding rates imply that short positions incur fees paid to long positions, potentially discouraging short positions.

Sub-neutral or negative funding rates are viewed as contrarian signals, prompting short position holders to reconsider and potentially close their positions.

This can lead to a short squeeze, where short sellers rush to cover their positions, further driving up prices.

A healthy bullish market trend is indicated by funding rates below neutral, with the potential for short squeezes to reinforce upward price movements.

Excessively high funding rates above neutral may indicate an overheated market, potentially signaling a risk of a correction or bearish sentiment.

#Crypto

Note

The daily #Bitcoin chart indicates a potential bullish flag pattern.

Confirmation of the pattern and bullish price target requires a breakout above resistance at approximately $71,500.

Support for pattern lies around $60,000 to $61,000

Holding above $60,000 is essential to sustain a bullish flag pattern.

Current market sentiment appears relatively neutral in the short term, taking a pause from a larger bullish trend.

Stay tuned for more updates; I will keep updating.

#Crypto #BitcoinHalving2024 BTC

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#Bitcoin most possible scenario, IMO.

What are your views on this chart?

Note

As expected, dropped and hit the lower level of liquidation at 61K to 61.5K, as indicated by the liquidation heatmap. Now, there aren't many liquidations at the low, but we're still waiting for some cooldown. According to this daily Bitcoin chart, BTC has been trending within this large bull flag, and it's currently above this crucial support level.

Bulls need to hold onto this support.

A daily candle close below this support will invalidate this pattern.

Stay tuned for further updates.

DYOR, NFA
#Crypto

CRYPTOMOJO_TA

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