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ATH

A new price structure on BTCUSD.The monthly candle has created a new price structure above the previous ath drawn in 2021. These structures are very important and are calculated on the closures, in this case monthly, even if one had also made one on the weekly towards the beginning of the month of March, was not as homogeneous as this one drawn the day before yesterday, because it was not present in some charts of other exchanges. These structures are very important, they can be used as support and resistance levels and outline trends. The latter are nothing more than a series of price structures either upward or downward, in this case upward, given that for the first time the monthly closes above 70k usd. A very strong and very useful signal, we have a very reliable level that can be used as resistance for the next movements. It should be noted that the trendline and the new bullish structure occurred at the same time, they are zones and not precise points, the first test of the previous historical high is concluded, once this short-term correction is over, we could see another test and establish whether the price has still have the strength to continue at least for the intermediate period.
BITFINEX:BTCUSD
by Melupira89
01/04/24 Weekly outlook (Q2)Last weeks high: $71771.20 Last weeks low: $69088.87 Midpoint: $66406.55 Q2 BEGINS! BTC saw a 91.35% increase from yearly open and closed out Q1 at ~71K . A very strong first quarter on the lead up to The Halving now less than 20 days away we have only a few more weeks to get set for the event which historically brings new highs after. Now that we have ended the month of March and begun Q2 , we can see that the bulls really pushed for a strong monthly close above the '21 ATH level of 69K, a very important S/R level and now we have closed above on the monthly it's confirmed as new support. Almost instantly after the monthly close price did drop back down to the previous weeks Midpoint of the range and the important support level. I do think we range for a while and build a base in the lead up to the Halving, any dip is probably a good entry point for long a long term hold as historically new highs come soon after the halving. For now I think we'll see a continuation of select alts having double digit days with BTC & ETH staying relatively flat . In my opinion we're at the low cap/memecoin stage of the cycle and just waiting for the next big BTC rally to start the whole cycle again and have money flow back into BTC. Next rally should target 86K (1.272 FIB extension) and with supply halving and ETF backing I do believe it's achievable this year perhaps even this quarter.
by ProR35
2
25/03/24 Weekly outlookLast weeks high: $68975.9 Last weeks low: $64863.9 Midpoint: $60752.0 Our first major pullback took place last week as BTC saw a weekly low of $60,752 , and notably the weekly high didn't manage to top the previous cycles ATH at 69K which does indicate a HTF Bearish Swing Fail Pattern. The 4H 200EMA providing support on multiple occasions and keeping the HTF trend bullish. Both of these price action movements creating a bit of a stalemate/ chop. Looking closely to see which pattern gets broken first. So far any pullback we have seen has been more of a leverage flush than a sustained pullback, V-shaped recoveries as entities such as BlackRock completely absorb any sell pressure. However, we did see a drop in IBIT inflows that were unable to absorb Greyscales GBTC outflows , leading to negative volume and a drop in price. I think if we could see an S/R flip of the previous ATH it would give the greenlight to the rest of the market to continue moving up. Historically a pre-halving dump is normal, a ~20% correction is normal. If we don't flip that S/R level a sweep of the $58K area is not off the table but the closer we get to the halving the less likely that is to happen in my opinion. The altcoin market pulled back with BTC with a few exceptions as usual. Narrative plays like RWA enjoying gains as BlackRock prepare for their $10TRILLION Tokenisation vision starting by depositing $100m USDC on the ETHEREUM blockchain. . This week focusing on ETH based RWA projects for longer term holds could be a good plan to try and front run BlackRock buying. BITCOIN is obviously the main focus as it needs to continue its bullish trend so that the rest of the market can continue to rally. 25 Days to The Halving This weeks focus: - BTC S/R Flip - ETH RWA's
by ProR35
2
Solana (SOL) Technical Analysis - March 24, 2024Solana Eyes Resistance Breakout - Will Bulls Charge Towards All-Time Highs? What is Solana (SOL)? Launched in 2020, Solana is a high-performance blockchain platform designed to address scalability issues plaguing some older blockchains like Ethereum. Solana boasts fast transaction speeds and low fees, making it a viable platform for decentralized applications (dApps) and the development of Web3 technologies. SOL is the native cryptocurrency of the Solana blockchain and serves several purposes: Transaction fees: Users pay SOL to interact with the Solana network and execute transactions. Staking: SOL holders can stake their tokens to earn rewards and contribute to the security of the network. Governance: SOL holders have voting rights on proposals that shape the future of the Solana ecosystem. Solana's History and Price Performance: Developed by Anatoly Yakovenko, Solana gained significant traction in 2021 due to its focus on scalability and its position as a potential "Ethereum killer." The price of SOL skyrocketed from around $5 in early 2021 to an all-time high of $259.90 in September 2021. Since then, the market has undergone correction, but SOL remains a prominent player in the cryptocurrency space. Solana (SOL) Analysis Following a strong rally, Solana is currently undergoing a corrective phase. After more than doubling in price in under a month, SOL is consolidating its gains. Key Technical Levels: Resistance: $191.77 (critical breakout level), $208.69 (next resistance) Support: $154.44 (current support), $140.00, $125.55 All-Time High (ATH): $259.90 (reached in September 2021) All-Time Low (ATL): $0.50 (reached in April 2020) Solana's Climb and Potential Breakout: SOL faces a significant resistance barrier at $191.77. A decisive break above this level could trigger a strong upswing towards the all-time high of $259.90. Conversely, failure to breach this resistance might lead to a pullback towards the support zone around $140.00. Similar Coins to Consider: Cardano (ADA): Another smart contracts platform focused on scalability. Polkadot (DOT): A blockchain protocol facilitating communication between different blockchains. Avalanche (AVAX): A high-throughput smart contracts platform like Solana. Conclusion: Solana is at a crossroads. A successful breakout above $191.77 could reignite the bullish momentum and propel SOL towards its record highs. However, a rejection at this level indicates a potential decline. Important Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and employ proper risk management strategies before trading any cryptocurrency. Volatility Warning: The cryptocurrency market is inherently volatile. The price of Solana can fluctuate significantly in a short period.
Long
by atamq
BTC UPDATE April - last train tickets at a good price ! :) Historically, after exceeding its ATH, BTC made a small and healthy correction for market in which short-term investors sold out - this correction always fluctuated around 17%-18%. BTC has made such a correction and, according to analysis of previous movements, it is currently ready for a quick and impulsive increase of up to approximately 58%, which can bring it to a value of approximately $108,000 - $116,000 . After achieving this result, which may occur within next month and will coincide with Halving Day, I expect a larger correction. (SELL THE NEWS). We will reach psychological $100,000 on BTC, street investors will enter the market on FOMO, thus doubling the price in the area I mentioned above and there will be a larger price correction of about 30-40%. Good Luck my friend's & Let's change world for better :)
Long
by potas58
BITCOIN - WE ARE HERE!!for weekly chart we wll compare 2017 bull run scenario with what happening now. 🔸 lets start with 2015 -2017 scenario: btc make ATH...declined...accumulated ... making equal highs And HIGHER HIGHS. 🔸 Can notice the same thing in 2023 -2025 btc make ATH...declined...accumulated ... making equal highs And HIGHER HIGHS. it's not coincidence ... the history simply repeats itself according to this data u can see where we are on the chart! Dont forget to support us wiyh ur like, comment and follow for more updates🎯
BITSTAMP:BTCUSDLong
by ceciliones
8
Bitcoin Levels Matter (ATH BLM)I have been patient to not issue new bearish projections until I see what I know to be objective price action evidence. With Sunday's Weekly bar close we received such a signal. In this post I want to detail how important this signal is in the understanding of price action as well as in actionable trading. I will present what I think is likely in the near term for Bitcoin price. Finally at the end I will present my long term bullish Bullish thesis. While chatting with a Bitcoin Maximalist friend I mentioned I was waiting for this event to confirm or reject the current price battle of the former All Time High. I also wagered a one way bet that IF this happens I will don a priest outfit and proclaim that Bitcoin is finally bullish for this cycle. My friend asked: I've never gotten a decent explanation for why technical analysis people care about the closing price for a market that never closes. What's so special about the price on Sunday at midnight or whatever? It is important for two reasons: A week is a week across the globe. Stock markets close their 5 days. Crypto all settles on GMT. It is therefor a mostly standardized unit of time. It lets one aggregate and consider the price data for that period of time as objectively as possible. It makes one patient. By waiting for the bar to close... one can separate from emotional decisions and avoid false breakouts. What one would want to see on a solid breakout is a Weekly bar to close well beyond the past All Time High. Such an event was evident in the 2020 Bitcoin bull run: There was no question as to if this breakout was successful and from this point price rallied much farther. Indeed one had to be patient through an 18% week but price continued higher for a rally of 175% before topping out and creating a new ATH. The opposite of this concept was on display in late 2021 when the last cycle's bull run failed not once but twice: Those that do not look to price action for making decisions may present other reasons as to why the 2021 run did not continue. I have been told that Sam Bankman-Fried was "selling fake Bitcoins" and that other market actors like Celsius were to blame. I reject these narratives. The price is the price. There is no more we can prove or attribute causation than what we see on the chart. The fundamental premise, embodied in price closing higher or lower from where it was before, is simply: If it was truly bullish... people would have kept buying. Looking for a weekly bar to close or reject is the most objective way we have to analyze that choice of market participants. Also for traders the level is very important in the short term. There have been MANY actionable respects of these prior levels from nearly 3 years ago that can be seen when one goes down to the lower timeframes. Knowing where these levels are is very important to short term traders when looking for entries and exits. So what may happen now? We can look back to the 2017 ATH break for the most analogous example. Following the first week closing above, and the second week closing below, price retraced -33.5% from its new ATH. If we projected a similar movement to the current price action of Bitcoin it would place price at around the last consolidation zone at 51.8k Now finally yes I do have a long term bullish Bitcoin prediction. Over the course of this bull run I've had the opportunity to talk with many Bitcoin Maximalists who espouse the theory that Bitcoin will replace the imminently failing US Dollar and become a global reserve currency. I do not believe this eventuality is likely. In fact, I do not think it will happen within the next decade certainly if not ever. Bitcoin does not scale as a technology to suit this requirement of the world. It is also far too complicated for true mass adoption when compared to the ease of use of CBDCs. Above all though Bitcoin fails as money because no one will spend a money which they believe will have infinite value in the future. While Bitcoin has some fantastic properties I cannot logically come to the conclusion that it will transcend human nature. What I do think is that Bitcoin has limited supply and is a store of value. I think that as long as people believe it has value, buy it, do not sell it, and encourage others to do so through memes... the Number Go Up (NGU). NGU I believe is Bitcoin's primary use case and it does not require Bitcoin to be anything more than it is. What has become interesting to chart is the logarithmic price of Bitcoin over its history. I do not use logarithmic for trading but I do believe it is useful in demonstrating the long term exponential properties of Bitcoin in both price AND supply. While the returns of Bitcoin, expressed by All Time Highs and then cycle lows, are increasing... by the rate of increase is decreasing . The drawdowns, by the way, are remaining large at -75-95% but there is not much room for variability there. It is interesting that as we observe more of Bitcoin's price history the price itself is following an exponential model at a curve incredibly similar to the supply itself. The chart above is my rough attempt using angles to draw a curve but it paints a reasonable picture for predicting what this future curve may look like. Where I would expect this cycle's new ATH to be is around 145k by end of year if it happened within said time. The curve then further suggests a price of 300k by 2030. The vaulted "1 million dollar Bitcoin" much memed is something perhaps our children will see in 2100. If we consider these numbers; 125% Return in 1 year 367% Return in 6 years (29.4% APR) 1462% Return in 76 years (3.7% APR) These returns are fantastic compared to other investments. However, they are admittedly less meme worthy and unlikely to be very widely circulated on social media which tilts to extremes for greater exposure. When I talk to another Bitcoin Maximalist friend who believes in "The Bitcoin Standard" he explains to me that the volatility problem of Bitcoin will be solved by mass adoption. I do not believe that this true as introducing more humans with more emotions creates more volatility... but we do seem to arrive at the same answer of reducing volatility over a long timeline. Another thing this curve model suggests about the cycle lows is that even in 2030 the cycle low will be around 65k... where we are right now. Some Bitcoiners like to repeat meme such as "the best time to buy is yesterday, the next best time to buy is NOW" which serve to encourage lack of patience in favor of their bags going up via new buyers. My personal meme is "Bitcoin will be more expensive and Bitcoin will be cheaper than it is today." Both my meme and waiting for price action to confirm keeps me patient.
INDEX:BTCUSDShort
by norok
15
Stellar XLM The biggest Moon 14.00 +XLM BULL PENANT/FLAG This is just and idea. Why so stagnant? For years after years in regards to new ATH?! Because the pole upwards is coming! XLM has been working and building in the background. Lately with the new Soroban contracts phasing out. XLM is becoming a Real World Assets commodity. The project and foundation has kept an ear to the damn US government in regards to compliance and regulation. In price action terms XLM is considered dead because it’s brewing up ready to blow off. Don’t be deterred nor discouraged. I believe we are in a super cycle. If the pole breaks upwards and you held, though you may have traded the last bull run. You have to hold XLM’s bottoms on the pennant/flag. The highest hopium is the highest risk. If it pays off, you’re rich.
COINBASE:XLMUSDLong
by Samabby
1
18/03/24 Weekly outlookLast weeks high: $73775.8 Last weeks low: $69170.3 Midpoint: $64564.9 After making consecutive new ATH's Bitcoin has now experienced it's first prolonged pullback. Before these last few days we saw each dip as more of a leverage flush with a near instant V-shaped recovery. This however is more of a traditional pullback, the main level of note is the previous cycles ATH of SWB:69K . The MIDPOINT now signifies that level and for me and on the HTF a potential Swing Fail Pattern (SFP) . If we do see a clear rejection off SWB:69K This could be the start of one of Bitcoins signature 30% Bullrun pullbacks to punish late longers and any unexperienced retail holders. This would see price drop to FWB:52K area. Personally I think leverage flushes are going to be common place as they always are and we are due a routine pullback, A pre-halving pullback occurred in the previous halving, -20% before rallying post halving. If we assume history will repeat itself then that would see price fill the large wick at GETTEX:59K from the previous flush, entirely possible in my opinion. As for the bulls, the ETF'S have been buying up any sellside pressure since the beginning of the calendar year and with the halving only ~30 days away it's hard to see Bitcoins price being allowed to fall as what is essentially a land grab is going on, there are simply too many buyers. The Nvidia AI conference begins today! Monday until Thursday and the crypto space is anticipating volatility to come from this event. Projects such as RNDR, FET, NEAR and other AI & DePIN tokens are expected to be impacted the most. The question is always going to be is this a sell the news event? The AI space has rallied significantly in the previous months however I would say that company with a valuation of $2.2T, (roughly 50% more than the entire market cap of Bitcoin) , bringing attention to these crypto projects and at least making the link between the two is a positive for the industry and can only bring more attention and money to the space.
by ProR35
2
History of Bitcoin: The Underdog That Rewired FinanceBitcoin, a phenomenon that emerged at the onset of the 2008 financial crisis, has changed the way we think about money. To celebrate the token’s $73,000 milestone, we trace its origin story and look ahead into the future. To infinity… and beyond? Table of Contents A Financial Product Too Big to Ignore Born in 2008 as the World’s First Cryptocurrency The Very Early Days of Trading on Exchanges The Volatile Phenomenon That Sparked a Change in Finance A Place to Find Value in the Face of a Global Pandemic Cryptocurrency Trading Lands on Wall Street What’s Coming Next for BTC Price as We Move Deeper into 2024? Bitcoin for Your Thoughts? 📍 A Financial Product Too Big to Ignore 📍 Bitcoin’s story is the story of an underdog that pushed through volatility and disbelief, but also dashed forward riding on hope and enthusiasm. Bitcoin ( BTC/USD ), the world’s largest cryptocurrency, has so far managed to survive and overcome each one of its many pitfalls and obstacles thanks to its novelty, mystery, and investment appeal. Not only that, but the orange coin has progressed so remarkably, it has risen to rival the valuation of the world’s biggest companies. As we’re about to close the first-quarter chapter of 2024, we take a closer look at what has fueled Bitcoin’s price to record levels about $73,000 a pop. To celebrate the token’s historical milestone of $73,000 , we go back to its creation, tracing major development milestones. From wiping out billions of dollars from its valuation to logging stratospheric gains, Bitcoin’s history is nothing short of a miracle. Today, Bitcoin boasts a valuation of more than $1.4 trillion. In other words, more than double as electric carmaker Tesla (ticker: TSLA ), founded by the uber-rich eccentric engineer Elon Musk. With great power, comes great interest from Wall Street. A bunch of spot Bitcoin ETFs are now strutting among asset managers, finding their way to ordinary (and some degen) investors and money-spinning professionals alike. 📍 Born in 2008 as the World’s First Cryptocurrency 📍 The history of Bitcoin is relatively short. But it can sting. Because we were all playing games or being 8 years old instead of buying Bitcoin at 4 cents. Back in 2008, the financial system crumbled under the pressure of a global crisis. A collapse in the housing market led to millions of homeowners not being able to cover their mortgage payments. About that time, an individual—or a group of people—called Satoshi Nakamoto, concluded the banking system was not reliable. A new asset class emerged—one that did not need the intervention of banks to function. Bitcoin, as it was called in the white paper released in November 2008 , was born. Essentially, Bitcoin represented a new type of money. An innovative software system that intended to rewire the worldwide financial system. Bitcoin sprouted to life as an open-source software running on a peer-to-peer network called blockchain. One way to think of Bitcoin is to see it as an electronic form of physical cash without gatekeepers such as banks. The participants in the decentralized network are responsible for the verification of transactions, and all transactions are visible for the public. 📍 The Very Early Days of Trading on Exchanges 📍 Once it was born, Bitcoin stayed confined to a small network of only a few computers (and the early adopter group of ultra-niche geeks). Then, mining Bitcoin was able to get you hundreds or even thousands of coins in a few days’ time due to the low level of computing power required. Safe to say, the first people to play around with Bitcoin had no idea the tiny orange-themed gig will turn into a fire-breathing $1.3 trillion dragon. Instead, the squad of core developers would try and make the network operate as smoothly as possible. Once this was achieved, Bitcoin hit its first exchange in 2010. The first Bitcoin to be transacted on an exchange was worth zero dollars. Then at the peak of 2010, one Bitcoin reached a record high of 39 cents. Since then, the price of Bitcoin has experienced a wild ride as millions of people have onboarded the crypto bandwagon. Hundreds of exchanges have opened and traders today reach daily volumes of tens of billions of dollars exchanged in Bitcoin. Bitcoin's mind-blowing price increase from its first steps through March 12, 2024 - Source: TradingView 📍 The Volatile Phenomenon That Sparked a Change in Finance 📍 It did not take much for Bitcoin to be noticed as a wonder of technology and a catalyst for change. Once it landed for trading on its first cryptocurrency exchanges, Bitcoin quickly gained popularity purely from an investment perspective. The first traders would buy and sell the token in a matter of hours only to realize a small profit and savor the rush of adrenaline. This same speculative behavior could still be found today even after the stratospheric gains that have made Bitcoin a heavyweight in terms of valuation. The price gyrations have crushed many traders and investors who were found unprepared to stomach the aggressive swings. Along the way, Bitcoin has endured over 17 selloffs of more than 30%. It has been through six declines of more than 60%, and four of more than 80%. Still, after all these spectacular drops, Bitcoin has clawed back its losses and returned stronger than ever. So strong, it crushed all doom-and gloom forecasters and permabears when it blasted through the $73,000 threshold in March of 2024. Not long before that, Bitcoin had a chance to prove its worth as a safe haven in troubled times. 📍 A Place to Find Value in the Face of a Global Pandemic 📍 It’s important to mention that the current record high in the price of Bitcoin arrived after BTC’s previous peak of $69,000 in November 2021. Back then, the coronavirus crisis, which hit in March 2020, turned out to be a key period of growth for crypto. The original digital currency served as a safe haven and a store of value—digital gold, if you like, or better—amid lingering uncertainty in the broad financial markets. In numbers, during the pandemic’s low point in March 2020, one Bitcoin was worth about $3,900. Presently, a single Bitcoin is up more than 1,700% from its coronavirus-fueled meltdown. The pandemic helped shift investor focus on the crypto market as participants sought to find pent-up value. The search has led to millions of Bitcoin proponents flocking to the digital asset. In practice, the interest to invest in Bitcoin has been so big, the top cop on Wall Street—the Securities and Exchange Commission—finally gave its nod. 📍 Cryptocurrency Trading Lands on Wall Street 📍 The big dogs on Wall Street welcomed the first Bitcoin-centric products to trade alongside stocks , bonds , and forex . More specifically, there are now eleven exchange-traded funds (ETFs) offering spot Bitcoin, or the real deal, unlike Bitcoin futures, which don’t hold genuine BTC. The step is a monumental milestone in Bitcoin’s path toward mainstream adoption and acceptance in the financial markets. The eleven Bitcoin ETFs , approved by the Securities and Exchange Commission, were greeted by investors with billions of dollars injected. Giant asset managers such as BlackRock and Fidelity are seeing overflowing demand for Bitcoin from both institutions and retail investors. The positive thing about these spot BTC ETFs is that they’re backed by the physical asset. Whenever inflows start to outpace liquidity, the asset manager needs to purchase new Bitcoin and add it to its reserves. The more the net inflow, the more it needs to buy BTC. And that drives prices higher. From inception in January to March 2024, BlackRock’s BTC ETF hit $10 billion—faster than any US ETF ever. 📍 What’s Coming Next for BTC Price as We Move Deeper into 2024? 📍 Looking ahead into 2024, there is no doubt that we are going to see new bouts of volatility. More than that, many are optimistic we will continue to see a string of fresh records in the price of Bitcoin. With this in mind, the risks will be there too. Both new and old, market participants need to know that price swings may be stomach-churning as the market adjusts to shifting moods in the rarefied air of $70,000. Buying at the top is scary. 📍 Bitcoin for Your Thoughts? 📍 How did you first get exposure to Bitcoin? When did you buy your first piece of the crypto and are you brave enough to buy again at the top? Let us know in the comments! Liked this article 🚀? Give us a follow to get notified for any future releases! With 💖, TradingView Team
INDEX:BTCUSDEducation
by TradingView
7
Total Cryptocap’s log chart just hit the falling wedge targetIf we take the teal bull pennant and only measure the pennant part which is also a falling wedge, the target we get from the breakout has just been hit by our current price action. I felt that was worthy of posting a chart bout. Though bitcoin has already achieved a new all time high days ago, the entire market cap for all of crypto is still just below it’s previous all time high currently. I would expect that to change in the very near future, however there’s always a chance at a retracement once rice hits the full breakout target. Since we just hit the full breakout target of the teal falling wedge, then it could retrace, if it does it may take longer to reach a new all time high. ALso possible for it to pump just enough to reach a new all time high then start its retrcement, correction, or sideways consolidation. Either way we can see as I have stated in previous charts, that this falling wedge is also a very valid bullish pennant and the breakout target once you include the height of the pennants flagpole for your measured move line, Is a staggering 17.5 trillion or so…No guarantee we hit the full target this bull run, however the ay the bitcoin spot etf buying has kind of changed the paradigm of what’s possible there’s definitely a chance we could hit this full target for this current bull run. As I have stated in the past the dotted yellow measured move line to the left is a measured move target from a pennant we broke up from 2 bull cycles ago and it didnt hit its full target in that bull run. However since it is in a very close proximity to the price target of this teal pennant’s measured move breakout target as well, it creates a good bulllish confluence and we could see both targets hit this bull run. I would say worst case scenario we head to those targets by next bull run but very plausibly can reach them during this one. *not financial advice*
CRYPTOCAP:TOTAL
by DrDovetail
ORCL March 14, 24: Can the stock reach new ATH this time?On March 13, 24, NYSE:ORCL gap up after earnings on huge volume and is now trading at the area of the all-time high. The stock has traded around this area in the past 2 times, during June, 2023 and September, 2023. Interestingly, the peaks of June and September were also around the earnings date. The question now is can NYSE:ORCL reach new ATH this time? The trading idea is to buy the stock as it crosses up the high of March 13, 24 which is 130, and cut loss if it will go down below the resistance at 127. Another trading idea is similar to what I wrote for NYSE:DELL (see below in the related idea), which is wait for some days for a range to form and then trade that range. Based on the actual situation that will occur we can execute our plan accordingly.
NYSE:ORCLLong
by longsonvn
11/03/24 Weekly outlookLast weeks high: $69934.6 Last weeks low: $64483.4 Midpoint: $59032.3 Bitcoin experiences its highest ever weekly close in history falling just shy of $70K . The previous ATH tested and bested multiple times during the previous week and broken yet again already this week hitting $72K ! The Market Cap has overtaken Silver to become the 8th largest asset by MCap . We are now in price discovery territory and ~38 days away from The Halving . Blackrock continues to buy and now closes in on MicroStrategy who has been accumulating since August 2020. MicroStrategy recently bought another 12,000BTC to stay in the lead but it looks like BlackRock will inevitably overtake them in holdings. BlackRock: 2 Months - 195,985 MicroStrategy: 42 Months - 205,000 Bitcoin has maintained its march onwards and Ethereum still lags behind. A close eye on ETH/BTC pair shows that on the 1W 200EMA is now flipped to support after breaking out of a multi-year channel since May '21 . ETH after broking $4K ~20% away from ATH. Altcoins along with Ethereum are still lagging as BTC dominance continues to rise, however it doesn't necessary mean BTC is a better investment, once BTC dominance looks to have topped, the Altseason will allow Altcoins to catch up. This week we continue to monitor the progress of the crypto market on the leadup to The Halving .
by ProR35
2
A purely speculative hypothetical cup & handle possibilityBitcoin just hit a new all time high against the USD pre halving! The bitcoin spot etfs have shifted the paradigm and we now find ourselves in unprecedented times. Considering that, for all I know the correction may have already seen the lowest it will go before we resume bull, but if history can tell us anything, it’s that it’s very common to see multiple 30-40% dips here and there during the bull market and this very well could be the beginning of one of those corrections. If so, a 40% dip could take price roughly back to the 40k one,, which would be a convenient zone for it to correct to as it would likely retest the weekly 50ma there as they would probably be both arriving at 40k around roughly the same time, that would be an excellent place for a bounce, of course should a black swan event occur sometime near there we could even see an unexpected flash crash wick even further below that maybe even 50-60% but the probability of something like that is much much smaller. If we were to correct the usual 30-40% or even let’s say we start having diminishing corrections and only correct 15-25%, in doing so, we will actually be simultaneously forming a handle to the text book picture perfect cup bitcoins price action just finished forming once it reached the new ath. Because of the possibility of such a hypothetical scenario currently being in. Play,I went ahead and drew a rough guesstimating of what I would expect the handle to look like should we form one here. Again, this is a completely arbitrary guesstimate, so if we do form one, it could be much smaller than the one I’ve randomly drawn here in red. Whether it takes shorter or longer for us to finish the handle if one does form, should not alter the potential breakout target that it would have by much, and as we can see if we broke out around the time the rough estimate one I have drawn ends the target should be well over 120k. Because of the zone where price action has recently gone and now been rejected from is so close to our previous ath zone, we also now on the bearish side of things have. Potential triple top in play. We went up in price at such. Fast and hyperparabolic rate that the argument for this being the bull markets blow off top is actually a possibility, a very slim, low probability possibility, but still a possibility none the less, in which case, the triple top argument is able to at least be a possibility. Which is perfect for the whales and market makers because that will sew just enough uncertainty in the market that when we do get to the bottom of the current correction you will probably have permabears coming out of hibernation to claim the bull market top is already in and we are going much lower. However, I personally don’t think the top is in because we never got the signal on the pi cycle top indicator. I plan on taking d vantage of any correction we get here by accumulating, laddering in small buys around 20%, 30% , and then slightly bigger buys at 40% if we get it. Also if we’re lucky enough to get some sort of 50-60% flash crash from a black swan I will ladder in even bigger buys then as well. If somehow we were to get a flash crash that went as deep as 80% - 90% at that point then I would have to consider that it was a bull market top, however that would then mean that the follow up bear market freeware’s would be extremely short lived and we’d be right back into the bull market. High has never happened before, but hey, with thee new bitcoin spot etfs approved a lot of unprecedented price action is suddenly possible. Again this whole cup n handle idea in the first place isnt set in stone yet and theres. Chance we’ve already had our full correction even. I think judging by the past in btc’s history, the most likely thing to occur here though would be a 30-41% correction. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
14
Bitcoin Hits $72,000- A New All-Time High Bitcoin ( CRYPTOCAP:BTC ), the flagship cryptocurrency, continues its meteoric rise, reaching a new all-time high of over $72,000, fueling market excitement and institutional confidence. The latest surge comes on the heels of a staggering $2.6 billion weekly inflow into Bitcoin ( CRYPTOCAP:BTC ), reflecting growing interest from Wall Street and bolstering optimism within the cryptocurrency market. Institutional Influx Signals Market Confidence The recent CoinShares report reveals a remarkable milestone in cryptocurrency, with a record-breaking $2.6 billion inflow into Bitcoin ( CRYPTOCAP:BTC ) investment products. This influx underscores the increasing confidence among institutional investors, highlighting Bitcoin's growing stature as a legitimate asset class. Wall Street Embraces Bitcoin The surge in Bitcoin's inflows is indicative of Wall Street's evolving interest in digital assets. Despite recent price surges, investors continue to pour funds into Bitcoin, with U.S. Spot Bitcoin issuers witnessing robust inflows. This institutional embrace of Bitcoin signals a significant shift in the traditional financial landscape, as more institutional players recognize the value and potential of cryptocurrencies. Diversification Beyond Bitcoin While Bitcoin ( CRYPTOCAP:BTC ) remains the focal point for investors, other cryptocurrencies are also experiencing notable inflows. Solana, Polkadot, Fantom, Chainlink, and Uniswap are among the digital assets seeing increased interest, signaling a broader diversification trend within the market. Regional Trends and Market Dynamics Regionally, the United States leads the pack in terms of inflows, followed by Switzerland and Brazil. However, profit-taking activities were observed in Canada, Germany, and Switzerland. Overall, the surge in inflows has propelled total assets under management to a record high of $94.4 billion, underscoring the growing investor appetite for digital assets. Optimism Amidst Market Dynamics Market analysts remain bullish on Bitcoin's future trajectory, especially with the upcoming Bitcoin ( CRYPTOCAP:BTC ) Halving event. Historical trends suggest post-halving rallies, further bolstering investor sentiment and reinforcing Bitcoin's potential for long-term growth. Additionally, prominent Bitcoin analysts project even higher price targets, citing macroeconomic factors and bullish technical indicators. Looking Ahead As Bitcoin ( CRYPTOCAP:BTC ) continues to redefine the financial landscape, the surge in institutional interest and record inflows signal a pivotal moment for the cryptocurrency market. With Bitcoin reaching new heights and investor confidence at an all-time high, the stage is set for further innovation, adoption, and growth within the digital asset space.
BINANCE:BTCUSDLong
by DEXWireNews
HelenP. I After BTC rose higher than last ATH, it can correctHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price a not long time ago rebounded from the trend line and in a short time rose to support 2, which coincided with the support zone. Soon, BTC broke this level, made a retest, and then made impulse up to 64000 points, but later it turned around and fell below, after which price continued to move up to the next support level, which coincided with one more support zone. But when BTC reached this level, the price broke it and even rose higher than the support zone, and soon made a strong impulse down to support 2, breaking support 1 and the trend line too. After this movement, Bitcoin in a short time rose back to support 1, thereby breaking the trend line again and even soon broke support 1 too and continued to rise in the support zone. Also recently, the price rebounded from this zone and now BTC trades higher than last ATH, so, for my mind, Bitcoin will rise a little more, after which it can make a correction movement to the support zone. That's why I set my target at 67850 points. If you like my analytics you may support me with your like/comment ❤️
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by FirstNameHelen
4