#Bitcoin regression trend analysis to determine end of bear..with extended trendlines
we don't need to be heros's as speculators
Patience and letting price action CONFIRM a trend change is CRUCIAL
....
Encouraging signs nonetheless!
Bitcoin-btcusd
$70,000 continues to be an obstacle for BitcoinYesterday, Bitcoin again tested the resistance near $70,000 but failed. After soaring to $70,258, it quickly dropped below $69,000, where it currently trades. Overall, not much has changed from a technical perspective since our previous update; merely the sideways trend of a lesser degree became more apparent, with Bitcoin struggling at the $70,000 mark. As such, our focus continues to lie at this point, along with the two sloped channels shown below.
Illustration 1.01
The daily chart of Bitcoin (BTCUSD) above shows the descending channel, with its upper bound acting as an important resistance for the price. To support a bullish case in the short term, it would be ideal for Bitcoin to close above the resistance level for multiple consecutive days; the resistance’s importance grows with each retest.
Illustration 1.02
The image above shows the ascending channel within the larger descending channel; its lower bound acts as a resistance.
Illustration 1.03
The illustration above displays an alternative trendline on Bitcoin's (BTCUSD) daily graph, which acts as critical support for the price.
Technical conditions
Daily time frame = Neutral
Weekly time frame = Bullish (losing momentum)
Monthly time frame = Bullish
Bitcoin addresses
Initially, the number of Bitcoin addresses with balances exceeding 1,000 BTC increased slightly after the big slump we described on 29th May 2024. However, while this figure is still above its 28th May 2024 level, it resumed a decline in a new month, which is not a particularly positive sign. The same trend can be observed among the addresses with balances exceeding 100 BTC.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
Bearish divergence of $BTC price#bitcoin #btc price has formed a bearish RSI+ Stoch+ MACD divergence in lower time frame. Minor correction may be necessary. Not financial advice.
Moon is near 🚀Hello, everyone! 🩷Have we finally made it? Is Bitcoin really about to surpass all previous highs? 🙏We’ll find out very soon, and I think it’s quite possible! Fingers crossed! 🤞
Bitcoin is rapidly gaining momentum, and this is a great signal that we are on the right track!
Many of you have seen my chart where I analyzed some price movement algorithms, and we are currently continuing the growth phase. For those who haven’t seen it yet, make sure to check it out by clicking on the post.👇
As for the current situation, what do we see on the chart?
The price broke out of the triangle upwards and tested it, indicating an organic movement, followed by further growth.
What can we expect next? We anticipate continued growth to levels of 🟢 74,000 - 78,000 in the short term, and in the medium term, 🟢 82,000 - 87,000!
If You’re also interested in learning how to trade the triangle pattern, You can find a detailed description in my post below. Learn and trade smart! 👇
Thanks for Your attention🫶
Always sincerely Yours, Kateryna💙💛
Bitcoin- rise to at least 85kBitcoin's price action has been pretty boring in recent days. In fact, for the past three months, BTC/USD has been stuck in a range.
However, as I mentioned in my previous analysis, bulls have held very well above the important 67k support level.
At the time of writing, the price is 71k, once more facing the established resistance.
A break of this level is expected, and a rise of at least 20% should follow afterward.
I remain bullish as long as the price stays above 67k.
An increased inflow of funds into Bitcoin ETFBitcoin moved higher lately, breaking some key resistance barriers. This might have been initiated by the inflow of new funds into the Bitcoin ETF.
#BTCUSD EASYMARKETS:BTCUSD
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BITCOIN You might not be ready for such June!Bitcoin (BTCUSD) is doing it and yet again it is going under the radar for some. The price broke out yesterday from its short-term Falling Wedge and as we showed you is extending the Bullish Leg of the Channel Up.
Zooming out to the 1M time-frame, we can see that May closed in gains (green) and since August 2023, there has only been one month of losses (red 1M candle) and that was April. Even though that injected some uncertainty to market participants, we clearly see on this long-term chart that sporadic 1 month losses are very common in Bull Cycles, especially during parabolic rallies.
In fact they are essential as they create the right shake-out conditions to keep fueling the rally. The symmetry among BTC's Cycles is remarkable and right now with the 1W MA50 (black trend-line) in deep support, it is attempting to get detached from the Mayer Multiple (MM) 1 SD above (grey trend-line), much like it did on October 2020 and April 2017.
Based on that, we are looking for the rally to extend to at least the end of the year and reach a Target Zone within $150k - $200k within MM 2 and 3 SD above (orange the red trend-lines respectively). Last but not least, take a look at the 1M RSI, which is also on a symmetry with the previous Cycles and once it touches the Lower Highs trend-line, we should consider to start taking profits regardless of whether of the range the price might be at the time.
But what do you think? Are you prepared for a 'hot' June and if yes, how high do you think BTC will go? Feel free to let us know in the comments section below!
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Bitcoin on the Brink of a New Bull Run Post-HalvingBitcoin's price has begun to surge once again, indicating a potential new bull run following its recent halving. The price action is currently within a bullish channel, and technical indicators combined with Fibonacci ratios suggest the onset of a fresh bullish impulse.
The Halving Effect: A Catalyst for Price Appreciation
On April 19, Bitcoin underwent its fourth halving event. These halvings, which occur approximately every four years, are integral to Bitcoin's monetary policy. They aim to maintain scarcity by halving the inflation rate, which has now dropped to just 0.85%—a lower rate than that of gold, often deemed the ultimate store of value and inflation hedge.
Over the long term, the reduction in Bitcoin's inflation rate is expected to drive price appreciation. As demand for Bitcoin increases, the limited supply of 21 million coins will face increasing pressure, creating significant potential for price rises.
Even in the short term, the halving effect enhances Bitcoin's attractiveness as an investment. Historically, Bitcoin's price has risen by an average of 125% in years when a halving occurs. This suggests that, starting from the beginning of the year, Bitcoin's price could potentially exceed $100,000, offering substantial returns given the current price around $69,000. Furthermore, Bitcoin's best performance typically happens in the year following a halving, with historical gains exceeding 400%.
Significant Institutional Interest and Bitcoin's Role in the Financial Landscape
For much of its history, Bitcoin's rise has been driven by retail investors. However, this dynamic is set to change significantly. The approval of spot Bitcoin ETFs has made it easier for institutional investors with vast capital reserves to invest in the cryptocurrency. This influx of major Wall Street players is likely to exert unprecedented pressure on Bitcoin's finite supply, echoing its early days of high demand.
The approval of a spot Bitcoin ETF also reflects the market's current perception of Bitcoin and its role in the financial ecosystem. In contrast, Ethereum (ETH), the second-largest cryptocurrency by market cap, faces ongoing debates over ETF approval as regulators determine whether it is a security or a commodity. This regulatory scrutiny extends to all cryptocurrencies, creating uncertainty about their classification.
It's crucial to note that an SEC classification of a cryptocurrency as a security does not spell the end for that blockchain. Many of these assets are highly decentralized and would continue to operate even if faced with litigation from the SEC. Cryptocurrencies are traded globally and are not confined to the laws of any single country.
However, regulatory risks are a significant concern for markets. Bitcoin stands out as a relatively safer investment in this regard. The SEC has already classified Bitcoin as a commodity, placing it outside the agency's regulatory control. This classification grants Bitcoin unique staying power and a degree of protection against regulatory scrutiny.
Bitcoin's current bullish trend, supported by the recent halving and growing institutional interest, sets the stage for potential substantial price appreciation. The reduced inflation rate and increasing demand create a strong case for Bitcoin's long-term value. Meanwhile, its classification as a commodity provides a safeguard against regulatory risks, further solidifying its position as a leading asset in the cryptocurrency market.
bitcoin update analysisPlease also check the previous analysis. Undoubtedly, these analyzes were among the best analyzes in the world today, maybe even the best
BTC / m1the massive HS on BTCUSD/M1
M1 is the money supply that encompasses physical currency and coin, demand deposits, traveler's checks, and other checkable deposits.
For a few years ive been very curious about this way to look at things.
It looks very very bullihs, and so does SPX/M1 as I link to here :
It all can fit as a new dot.com boom featuring AI and crypto.
I mean.. isnt that coming ?
$BTC is testing the major resistance zone#bitcoin #btc price is about reclaim the trend line. If breaks out resistance zone #btcusd price will be more optimistic. This' also the bearish retest of the zone #btcusdt lose the dormer trend support and so i call here as major resistance zone. Not financial advice.
Bitcoin: Push Back To 70Ks?Bitcoin support at the 66K area continues to hold and may be the higher low (wave (iv)) that may lead to a higher high over the coming weeks (see illustration). In order for a dramatic new high like 80K to be tested, price needs to prove itself by clearing 73K first. The key to navigating this is to WAIT for the market to provide evidence (confirmation), NOT get stuck on an opinion about the future. Even though the broader trend is bullish, UNTIL it breaks out, it is within reason to expect the consolidation to continue.
Recognizing the support/resistance levels within broader consolidations can help to uncover numerous opportunities, especially on smaller time frames. For example, while I consider the 66K area a minor support on this time frame (see arrow), this location is a great spot to anticipate longs on day trade time frames like the 1 or 5 minute chart.
When using such levels as a form of context to guide decisions, traders often do not understand how to shape expectations relative to the magnitude of the time frame. For instance, price movements on a 1 minute chart are typically smaller than a 5 minute or 1 hour chart. Knowing this should shape expectations in terms of reward/risk. This is one of the problems I aimed to solve when coming up with the idea for Trade Scanner Pro by automating the exit points using the average true range (ATR).
The same can be said about the 70K whole number resistance area. This is an ideal location to WAIT for sell signals, whether to take profit or an aggressive counter trend trade short. Again the location provides a point of reference where we can anticipate a particular price behavior or opportunity. It is up to the MARKET to confirm and even then, there is a chance it can get stopped out (markets are mostly RANDOM).
My analysis is meant to shed light on a select range of possibilities over the coming week for day and swing traders. I have to remind people of this because many come to these articles expecting to gain knowledge of the future. It will take some time to realize effective risk management has NOTHING to do with where price will be in the future. There is no way to forecast the future accurately, ESPECIALLY using the limited information that is available on charts.
The idea is to help you prepare for potential opportunities that I believe have a greater probability of a positive outcome because of the price location relative to the trend. The MARKET decides what scenario will play out, not me or anyone else. To align with the market, we must have a passive mindset, good listening skills and the ability to admit being wrong QUICKLY, especially on smaller time frames.
So here is how to prepare of the coming week: IF the low 66Ks are tested, look for longs, IF 66K breaks, avoid longs and reevaluate new levels. IF 70K is tested, look to take profits, or consider aggressive shorts (counter trend). IF 70K is cleared, watch for test of 73K. How you navigate your positions is a function of your risk tolerance and personal style. Most importantly, let the market do the THINKING, you simply adjust to the new information as it appears.
Thank you for your considering my analysis and perspective.
Right where we are supposed to be in the #Bitcoin cycle. Watch the calendar not
the price.
Hard to implement.
But it's the only way to keep your sanity investing in #Crypto :)
We have had double bubble's
Parabolic tops
marginally higher high, double tops
what next a rising wedge top, triple top , a clean head and shoulders?
all that we know , we must fear the euphoria and fade the crowd.
Bitcoin Marketcap v Federal reserve M1A nod to @unbeldi
And a updated chart
Swapping the Bitcoin price to marketcap over the M1 money
As BTC is a Trillion dollar asset again
and was invented to be peer to peer cash
It's good to compare the ratio vs the dollar.
And imagine one day in the future that it may dethrone the King.
Since BTC is natively digital and global
(M2 is slightly larger number and the more commonly used metric @ 20.86 Trillion)
The number of coins I used for the 100k & 400k price projections
was 19,791,006
If you wanted to check my maths
This is the current and supply and the estimate of number of coins in 10 months time.
WEN ATH for #Bitcoin ... July 2024Based on past cycles
The breakout should occur around 33 months post the 2021 high
With the top occurring Q4 2025
This could be front run of course. As the thesis laid out by Bob Loukas.
And I do lean into the idea this is going to be a major top for #BTC
Resulting in the halvening failing to provide the expected pump in 2028
TOTAL2 - Sideways PeriodsThree boxes, movements within each are often sideways leading to bull moves
Currently we are experiencing a bull move on TOTAL2.
Lets goo
Strong Monthly Altseason Argument ETHBTCThe Gaussian Channel shows a bullish trend on this Monthly timeframe with a strong bounce off the middle line of the channel.
This as a point of reversal allows ETHUSD and other altcoins to out perform BTC on a Monthly scale.
I think BTC will Top very early compared to that of Ethereum and other altcoins.
$BTC is performing now a bearish retest#btc #bitcoin price is now testing to reclaim the trend channel, if fails (if bearish retest will be succesful) #btcusd dump will have the 3nd minor wave. Not financial advice.
BTCUSDT could be heading towards a new All-Time HighWe can clearly see that 67k is a very strong support/demand area, which is currently being respected. And as long as Bitcoin remains above, without a decisive daily break and close blow 66k, we will continue to expect a potential rally.
Along with the BTC, Alts should feel very strong as well, and many should go ballistic.
BITCOIN Inverse Head and Shoulders targeting $79500Bitcoin (BTCUSD) is technically about to complete the Right Shoulder of the Inverse Head and Shoulders pattern (IH&S) that followed the All Time High (ATH) of March 14. The driving vessel behind it is a (dotted) Channel Up whose Bullish Leg peaked at +19.50% and its two Bearish Legs so far have been around -8.00%.
As you may realize, there is a high degree of structural symmetry on these patterns as even the IH&S has distinct Support and Resistance Zones, with Sour interest currently being on Support Zone 1, which has already held twice since May 23.
As a result, as long as it holds along with the 1D MA50 (blue trend-line), the trend remains bullish and the IH&S technical dynamics target the 2.0 Fibonacci extension at $89000. However we keep at the moment a shorter term perspective and before 89k, we will aim at $79500, which would be a +19.50% rise, similar to the Channel's previous Bullish Leg.
Feel free to let us know in the comments section below!
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BTCUSD: Entering the parabolic phase.Bitcoin is on excellent bullish levels on the 1D technical outlook (RSI = 66.472, MACD = 251.100, ADX = 42.204). Following the correction of the last two months, the market has entered the green zone of the Cycle, which is its parabolic phase. This historic chart on the 1W timeframe shows that this phase lasts around 560 days while the previous blue one, which extends from the bottom of the Cycle, lasts around 500 days. This is a clear indication that at least for a year, Bitcoin will most likely rise parabolically with a possible target zone of 200,000 - 300,000.
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Omega Candle Soon10 000 Candle will happen only above $74 000. Or it will happen around the end of bull run. Be patient, enjoy the run.
