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BTC Hits 60K – What’s Next?GM crypto bro's, happy weekend! BTC has finally pumped to the 60K area as mentioned in yesterday's market update. This morning, the Fear and Greed Index is in the neutral zone at 50, while the Stochastic RSI remains overbought. Typically, after a pump, BTC may retest the 59K - 58K area. However, if it continues its pump, the next target is 61K - 62K. BTC often corrects when the Fear and Greed Index enters the greed zone, so a correction might follow after reaching 61K - 62K, possibly back to 59K - 58K. The market is dynamic; don't be FOMO. Stay safe, keep calm, and remember anything can happen in the crypto market. Always manage your risk. That’s all for today’s crypto update—this is Akki signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
BITCOIN Will the negative correlation with DXY make it rally?Exactly a year ago (September 25 2023, see chart below) we published a comparative analysis of Bitcoin (BTCUSD) against the U.S. Dollar Index (DXY): ** Negative correlation and the Fed next week ** We argued of the natural negative correlation the two have and BTC rose immediately to its impressive October 2023 - March 2024 rally, just when DXY got rejected at the top of its Megaphone pattern. We believe that, only a few days before the Fed cuts the Interest Rates next Wednesday for the first time in years, it is useful to update this chart. ** Not just about the DXY ** As mentioned, this correlation shows principally the negative nature between the two financial assets but there are other parameters involved also. You can see that from late January 2024 to mid-March 2024, DXY started rising but BTC didn't decline, instead it posted an insane rally, which was solely attributed to the launch of the Bitcoin ETFs. As this move cooled down, the market started correcting the rally's mania and even though the DXY started a strong decline in late June, BTC didn't raise but instead entered a 50k - 70k range because of the strong correction on the stock market. ** So what's next? ** So the obvious question that arises, is 'what's coming next for Bitcoin'? Well as you realized, that can be answered only in relation to the stock market and DXY moves. BTC is sitting currently on its 1W MA50 (blue trend-line), while the DXY on its 1W MA200 (orange trend-line). Technically, if the DXY rebounds on its 1W MA200, Bitcoin should decline and vice versa if DXY breaks its 1W MA200 (would be the first time since January 10 2022), Bitcoin should rally. However that also depends on what the stocks do. As a result, we believe that if the stock market rises, BTC will follow it upwards, regardless of what the DXY does (unless it accelerates so fast upwards that will break above the 107.370 Resistance). If the DXY rebounds while stocks rise, there should be a BTC rally but just a moderate one. If DXY breaks below its 1W MA200 while stocks recover, we expect the rally to be much higher than most anticipate. On the other hand, a further decline on stocks combined with a DXY rebound, would translate into an aggressive sell-off on Bitcoin. If however stocks keep falling while the DXY makes the historic break below its 1W MA200, we expect the July - September consolidation on Bitcoin to be extended, so the trend should be sideways until one of those parameters/ condition changes. Which scenario do you think is more likely to take place? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
8
Potential Correction Ahead?GM crypto bro's, this morning the Fear and Greed Index is at 32 in the fear zone, and the Stochastic RSI is in the overbought area. A slight correction may be coming soon, and BTC might not reach 61K, likely staying within the 59K - 60K range as we head into the weekend. However, there's still a chance for BTC to break 62K. The market is dynamic; don't be FOMO, stay safe, keep calm. Anything can happen! Always manage your risk. That's all for today’s crypto update, this is Akki signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
AVAXUSDT Divergence at ResistanceAVAXUSDT is currently trending downward, creating lower highs as it nears a crucial support level. After a pullback toward the resistance zone, the market struggled to sustain upward momentum, resulting in a divergence pattern. The price has since dropped below the significant 24.00 level and broken through an upward trendline, marked by the appearance of a long-tailed bar, signalling strong selling pressure. Given that the recent bullish move was a correction against the dominant bearish trend, it is likely that the market will continue its decline toward the support level. The development of a triangle pattern suggests consolidation, often a precursor to continued sideways movement. The target is the support level around 22.60
Short
by RTED_Investing
Correction Met, What’s Next?GM crypto bro's, the correction I mentioned yesterday has been hit. This morning, the Fear and Greed Index remains in the fear zone at 31, while the Stochastic RSI is now in the overbought area. Today’s market outlook is similar to yesterday: potential pump to 59K - 61K. A drop is still possible. Remember, the market is dynamic; don't be FOMO, stay safe, keep calm. Anything can happen! Always manage your risk. That's all for today’s crypto update, this is Akki signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
BITCOIN It's all about the global liquidity every single time!As the Fed prepares for the first rate cut next week since it begun the cycle of hikes in February 2022, it would be very eye-opening to observe the global monetary supply and what more money in circulation could mean for Bitcoin (BTCUSD). The light green and red candles (top) illustrate the Global Liquidity Index (GLI) comprising of the FED, TGA, RRP, ECB, PBC, BOJ, BOE and other Central Banks. It tracks and measures exactly what it says, the liquidity/ monetary supply/ money in circulation around world economies. When central banks cut rates, they essentially print more money, flooding the system with cash that devalues the currency already in circulation. When that happens, it is easier for corporations and/or individuals to access more money through loans etc, thus increasing their spending/ buying/ investing capacity. Principally, this means that it is easier for investors to buy riskier assets, which lead to value increases. In that category fall stocks and cryptocurrency. As this chart shows, it is no surprise that every time the GLI starts rising, Bitcoin (candles at the bottom) rallies. More specifically, when Liquidity drops and flattens, it creates BTC's Bear Cycle and when it breaks above its Resistance, BTC starts the rally phase of its Bull Cycle. This time, having experienced the dramatic FED rate hikes that brought us back to pre 2008 Housing Crisis levels, the GLI experienced a stronger drop and instead of flattening, it created a Wedge with Lower Highs as its Resistance. GLI is now exactly on this Lower Highs trend-line and if broken, we might have a break-out similar to the Resistance break-outs of the previous Cycles, thus initiating the Parabolic Rally on Bitcoin. Do you think that will be the case? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
20
Potential Correction or Further Pump?GM crypto bro's, this morning the Fear and Greed Index remains in the fear zone at 37, and the Stochastic RSI is moving into the overbought area. Today's BTC outlook is quite similar to yesterday's update, with a potential correction around the 55K area or possibly a continuation of the pump to the 60K - 61K range. But remember, this is just my personal analysis — only probabilities. As always, maintain your risk! That’s it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
BTC USD UpdateWe got liquidity taken, so I'm scalping short and about to take the first profit. Daily closed bullish, so I'm still not sure about this range. If we see 55987.70, 4h - Neg OB flips bullish, I will be out of my short and looking for a new plan. It could easily go higher or lower. We are in scalping territory, so be careful. Sniper entries for us only on very small timeframes and quick profits. Let's see what London and New York will do to us today. I'll keep ideas flowing here.
COINBASE:BTCUSDShort
by themarketknight
BTC Breaks 55K, What's Next?GM crypto bro's, BTC finally pumps and breaks above 55K! This morning, the Fear and Greed Index is at 33 (Fear), and the Stochastic RSI has managed to exit the oversold area. Where will BTC go next? Based on today's price action, after this pump, a slight correction might occur around the 55K area. If the pump continues, the next target could be in the 60K - 61K range, or it might just reach 59K. Stay alert, as sudden dumps can still happen in the crypto market. As always, maintain your risk! That's it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
BITCOIN The Ultimate Cyclical Buy & Sell Blueprint! MUST SEE !!!Bitcoin (BTCUSD) has been basically trading sideways for the past 6 months following the massive surge at the start of the year due to the introduction of the BTC ETF. There might be no better way to illustrate this 6-month ranged trend than the current chart on the 1W time-frame. ** Buy-Hold-Sell Zone ** On this chart we depict BTC's Cycles in terms of Zones of BUY-HOLD-SELL. As you can see the first two Cycles placed their previous tops just above the 0.618 Fibonacci level, while the most recent one just below the 0.382 Fib. ** When to Buy ** We've found that the 1.0 - 0.786 (Green) Fib Zone is usually the best Zone to Buy, despite the FUD (Fear, Uncertainty, Doubt) investors may have at the time due to the concluding Bear Cycle. All these emotions are normal to have under those circumstances but it's those that traders need to filter out and make the cold decision to buy. ** When to do nothing ** The 0.618 - 0.382 (Blue) Fib Zone is where investors are encouraged to do nothing and just Hold BTC, despite the temptation to sell and take profits after the first strong rallies of the new Bull Cycle or at times when volatility hits the market and disbelief of Bull Cycle continuation makes its presence. ** When to Sell ** The 0.236 - 0.0 (Red) Fib Zone is the best Zone to Sell, even if successive rallies hit euphoria to very high levels making investors expect/ hope that the Bull Cycle will continue to higher and higher levels. ** So where are we now? ** So assuming that the current Cycle will have the previous top just below its 0.382 Fib (such as the previous Bull Cycle 2019 - 2021), we can clearly see the potential Zones of Action. The 1.0 - 0.786 Fib Zone (Buy) was from the moment of the 15.5k Bear Cycle bottom until Bitcoin roughly broke above the 1W MA50 (blue trend-line) again. Then it flashed its Buy Signal every time the March - October 2023 consolidation bottomed and pierced through the 0.786 Fib. It becomes also obvious that the recent 6-month consolidation (March 2024 - now) we talked at the start is nothing but the usual cyclical Hold Action (0.618 - 0.382 Fib) for Bitcoin. In fact, as you can see, this sideways trading has been taking place at the upper level of the Hold Zone within the 0.5 - 0.382 Fib. ** Start selling at 100k? ** With the 1W MA50 tested again last week (2nd time since the first week of August) and so far holding, the market is making a case that we are in cyclical terms on the 'No-Action' region of the Cycle, and most likely shouldn't sell despite the disbelief and fear that the recent 6-month ranged trend may have caused. The time to start selling, if the model is materialized, will be at exactly $100k (0.236 Fib) and potentially lasting up to just below the $200k mark (0.0 Fib). But what do you think? Do you like this Buy-Hold-Sell Zone classification? Are you expecting this model to repeat the cyclical activity of past Cycles and if so, will you start selling at $100k? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
9
BITCOIN / USDT PAIR ON BINANCE (TECHNICAL ANALYSIS+TRADE PLAN)Technical Analysis of the Chart by Blaž Fabjan: Descending Trading Channel: BTC is trading within a descending channel, showing lower highs and lower lows, which typically signals a downtrend. However, it is nearing the bottom of the channel, often a zone for potential reversal. Support and Resistance Zones: Support: The two orange zones indicate strong support areas around $51,000 and $50,000. BTC may find buying pressure in these regions, especially as it touches the lower bound of the descending channel. Resistance: The current resistance area is around $55,000. BTC will need to break through this level to confirm a trend reversal. Indicators: RSI (Relative Strength Index): RSI is currently around 55, indicating a neutral trend. However, it is slightly moving upwards, suggesting potential bullish momentum, though not overbought yet. Stochastic Oscillator: This is showing a crossover at 74, indicating upward momentum, but it’s close to the overbought region. This may signal some resistance to immediate bullish continuation. VMC Cipher B Divergences: This indicator is showing bullish divergences at several points, signaling potential reversal zones. Divergence with price action suggests a potential trend change in the near term. Trading Plans: 1. Intraday Trading Plan: Strategy: Trade within the current channel. Watch for a breakout from the descending channel, especially on the 1-hour chart. A breakout above the $55,000 level could confirm a short-term bullish move. Look for pullbacks towards the $53,500-$54,000 region to enter long positions, targeting $55,500. Place a stop loss just below $53,000 to protect against fake breakouts. Indicators to Watch: RSI trending above 60. Stochastic Oscillator maintaining bullish momentum. 2. Scalping Strategy: Strategy: Focus on small price fluctuations within the support and resistance zones. Look for quick entries near the support zones (around $53,500) and exits before it hits resistance ($55,000). Scalping in tight time frames (5 to 15 minutes) around these price levels. Key Levels: Enter around $53,500 and exit at $54,500. Place tight stop-loss orders around $53,000 to manage risk. 3. Swing Trading Strategy: Strategy: If BTC continues trading within this descending channel, wait for a breakout confirmation to take a long position. A breakout above the channel and $55,500 would signal a strong move upwards, potentially to $58,000 or higher. Enter long positions if BTC breaks and holds above the $55,500 resistance level, targeting $58,000 and beyond. In case of a further dip, enter long positions around $50,000 support, which appears to be a strong reversal point. Stop Loss: Below $50,000. Conclusion and Long Position Advice: Near-Term (Intraday): BTC could break above the descending channel, leading to a short-term bullish move towards $55,500. Watch closely for a breakout confirmation. You could consider entering long positions on pullbacks or a confirmed breakout. Medium-Term (Swing Trading): A solid break of the $55,500 resistance could lead to a potential rally towards $58,000. Be cautious of potential false breakouts and place stop-losses below support levels. Scalping: For those aiming for quicker profits, you can take advantage of price fluctuations within the $53,500-$55,000 range. Overall, the chart shows signs of a potential bullish reversal, especially if BTC breaks out of the descending channel. For now, conservative traders may wait for a breakout confirmation before entering long positions. However, aggressive traders can consider buying near support levels, keeping in mind the risk of downward movement in case of failure to break resistance.
Long
by elfabiiani
BTC's Next Move: Pump or Dump?GM crypto bro's, happy working day 🗿! This morning, the Fear and Greed Index remains in the Fear zone at 26. Stochastic RSI is still in the oversold area but shows signs of forming a double bottom. With today's weekly closing candle, the likelihood of another BTC dump seems smaller compared to a potential pump. The 55K area has been visited; now we wait for the next move from the market makers. Next pump possibility is around 60K - 61K, with a potential peak near 62K. However, if BTC drops below 52K, the chances for a pump diminish. As always, maintain your risk! That's it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki
Bitcoin: 2 Lessons About 56K Break.Bitcoin clears 56K support even while attempting to confirm a reversal in the 60k area a week earlier. With price back in the 53K to 50K area support, this is a time to watch for short term reversals as well as an investment opportunity. At the same time, there are two very important lessons to be learned from this recent support break situation. The arrow on the chart points to the 60K area where a week earlier price attempted to show support. Notice the green candle followed by the break of the high of that candle. That is a form of confirmation SPECIFIC to this time frame. With this clear long setup in place, the outcome was a stop out (break below the low of the green candle). The lesson here is this: Just because the market aligns and confirms, it does not guarantee a positive outcome. All markets are highly random and anything can happen at any time. This is precisely why RISK is ALWAYS the priority, NOT setups, wins, oscillators, news, etc. The whole point of waiting for a confirmation and setup (aka signal) is to be able to clearly define risk and reward and then decide if the trade is worth taking based on your personal risk tolerance and situation. Taking trades on hunches, stepping in front of levels based on feelings and/or opinions will get you into trouble in times like this while other times these ineffective decisions seem to work. If you accept that fact that markets are random most of the time, you will be better prepared to avoid decisions like these. While it is within reason for supports the hold in this environment, it is better to be prepared for BOTH sides of the situation. In my previous week's article I illustrated a scenario that the market completely ignored. In other words my anticipated idea was wrong. The second lesson is this: this is a NOT a game of being RIGHT, it is about defining risk and measuring potential. This is why WAITING for confirmation can help dramatically improve performance because the purpose is to prove that the market is aligning or agreeing with your anticipated premise. When there is no confirmation you can easily minimize adverse trades because you can't justify an entry. In the case of Bitcoin, there was a confirmation that failed, (green candle) followed by the test of the 56K area which attempted to reverse but NEVER confirmed on this time frame. Being able to avoid taking the wrong side of these support/resistance breaks improves overall performance significantly over time. This type of mindset is key for day trade and swing strategies. Bitcoin is now nearing the 53K to 50K support zone. This will present potential reversal opportunities on multiple time frames (Trade Scanner Pro helps with this). At the same time, price is now within a broader support area which is ideal for investment opportunities. The 50K area is a MAJOR support in terms of the bigger picture. At the same time, there are some positive fundamental potential catalysts on the horizon: lower interest rates AND an election outcome that supports a Bitcoin friendly environment. Either way the idea here is to have an "inventory" acquisition plan and to cost average larger amounts that are weighted in terms of price location. Meaning the lower price goes, the larger the amount you can justify buying. I am not going into all the details here, but this assumes Bitcoin is NOT going to 0 in the long run. Also if accumulating in this way it is safer NOT to use leverage. IF Bitcoin breaks 50K, (it CAN happen) the mid to low 40's is the next support area (a place to buy more). For the following week I anticipate a bullish reversal back into the 60K area and will be looking for setups across multiple time frames (day trades/swing trades). How you use this information will depend on the type of trade you are interested in taking. Either way, you have to begin with a premise, formulate a scenario around that premise, define a signal, then MEASURE the RISK if the signal appears. If RISK is not your focus, you are no better than the drunken poker player who pros warmly welcome to the table. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
5
BITCOIN - BULL'S LAST CHANCE Bitcoin has been moving sideways for half a year creating a complex correction WXY( 3-3-3). Complex correction is made up of 3 waves were each wave is also made up of 3 waves ( in the form of ABC's ). Wave W = Wave X = Wave Y = 3 waves We are now in the last leg of wave Y. Expecting price to break the lows again and move upwards from our buy zone. Looking for a strong bullish pressure at our buy zone. Will update the idea once we are there. But for now you can focus on selling targeting 49k level. WXY Pattern Goodluck and trade safe!
INDEX:BTCUSD
by Tradenessfx
1
BTC Drops to 52K - What's Next? GM crypto bro's, happy weekend? 🗿 This morning, BTC has dropped to the 52K area 💀 — a reminder to always stay safe in the crypto market. Here's the update: the Fear and Greed Index is at 23 (Extreme Fear), and the Stochastic RSI has dived back into the oversold zone 🗿. So, where is BTC headed? The potential pump still remains at the 60K - 61K range. However, given today's deep drop, there’s a probability BTC could break below 50K and, in the worst case, visit the 44K area. Always hope for the best and prepare for the worst — let's hope BTC doesn’t dump to 44K 🗿. As always, maintain your risk, and that’s it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
INDEX:BTCUSD
by x_Akki