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Daily Bitcoin Update - March 5, 2024Yesterday CRYPTOCAP:BTC rose above the light blue resistance zone, and rallied towards previous all time highs around $69k. However, BTC stopped just short of reaching new all time highs at the orange trendline. There has been a pullback and retest of FWB:65K , and BTC is continuing to show some strength this morning with a bullish bounce. I think the price is likely to trade sideways below SWB:69K for now, and we'll see if BTC starts to break down over the next few days. CRYPTOCAP:BTC Attempting a Bullish Retest of $63.9K Here CRYPTOCAP:BTC has started dropping, but BTC is attempting to form a bullish retest of this $63.9k resistance line to flip it into support here. Looks like there will be a bounce and rebound here. I think BTC could continue trading between GETTEX:64K and SWB:69K for now.
BITSTAMP:BTCUSDShort
by realchartchamp
Bitcoin- Will the "Black Swan" fly this time?As a seasoned trader, I often approach predictions with caution and realism, relying on technical analysis and common sense to guide my decisions. However, in the realm of cryptocurrency, particularly Bitcoin, recent price movements have sparked a sense of speculation and wonder. Could we be on the brink of a "black swan" event, characterized by an unprecedented rise without a significant correction? Reflecting on recent trends, in my analyses, you may have noticed my reserved demeanor and propensity for realistic predictions. Yet, the current trajectory of Bitcoin's price prompts me to entertain a notion previously dismissed – the possibility of a remarkable surge without the anticipated correction. Following the release of the ETF, I, like many others, anticipated a correction from 45 to 36, only to witness the market defy expectations. Since then, I've adopted a cautious approach, engaging in strategic buying with small targets(5-10%) and tight stops. Contemplating the unthinkable, returning to the heart of the matter, and setting aside technical analysis and conventional wisdom, one question looms large: Could Bitcoin soar directly to 100k without the anticipated correction, as projected by many technical analysts? I'll temporarily set aside the exuberant sentiments of the "Lambo gang"... Conclusion: As we navigate the dynamic landscape of cryptocurrency trading, it's essential to remain open to all possibilities, including those that defy conventional wisdom. While the prospect of a "black swan" event in Bitcoin's price surge may seem improbable, recent market dynamics compel me to entertain the notion with a cautious yet curious mind.
COINBASE:BTCUSDLong
by Mihai_Iacob
14
Bitcoin 💵:Navigating the Perils of Market SpeculationThe Temptation of the Bitcoin Mirage Ladies and gentlemen, In the vast and volatile landscape of financial markets, one phenomenon has captured the imagination of investors and speculators alike: Bitcoin. The allure of quick riches and the promise of a decentralized future have propelled this digital currency to unprecedented heights. However, amidst the fervor and frenzy, it's imperative to recognize the inherent dangers lurking beneath the surface. The meteoric rise of Bitcoin has been nothing short of astounding, but history has taught us that what goes up must eventually come down. The danger lies not only in the potential for astronomical gains, but also in the very real risk of catastrophic losses. Market speculation, fueled by greed and fueled by fear, has the power to distort reality and lead to irrational exuberance. We've witnessed the wild fluctuations of Bitcoin, soaring to dizzying heights one moment, only to plummet to earth-shattering lows the next. This rollercoaster ride is not for the faint of heart, and those who dare to participate must tread carefully. The allure of quick profits can blind even the most seasoned investor to the fundamental principles of prudent financial management. It's easy to get caught up in the hype, to chase the next big thing without fully understanding the risks involved. But make no mistake, the danger is very real, and the consequences can be devastating. As we navigate these treacherous waters, it's essential to exercise caution and restraint. We must resist the urge to succumb to the herd mentality, to follow the crowd blindly into the abyss. Instead, we must approach the market with a healthy dose of skepticism and a keen awareness of the risks at hand. Bitcoin may indeed hold the promise of a decentralized future, but it also embodies the dangers of unchecked speculation and market volatility. The road ahead is fraught with peril, but with careful navigation and prudent decision-making, we can steer clear of the pitfalls and emerge stronger on the other side. In conclusion, let us not be seduced by the siren song of easy riches, but rather, let us approach the market with humility and foresight. The dangers are real, but so too are the opportunities for those who dare to tread carefully. Thank you.
BITSTAMP:BTCUSDShort
by TrojanBible
BTC bear market is over? Setting a stage for next Targets of 41KSummary and Technical Outlook: BTC bear market is ended since the MSS happen in weekly TF with an impulsive price breakout, and the price witnessed continuation after impulse correction. Price is in an uptrend after changing the market structure now creating Higher highs and higher lows. Presently market just completed the impulse correction of a most recent impulse move and witnessing a solid rejection from the Daily OB as well. With, this anticipation for BTC is that the BTC will meet the next target at 1 Standard deviation of impulse correction which is resting around 41K. Fundamental Outlook: The Black Rock filing for BTC ETF is very hawkish for the BTC but the market didn't react yet, We can expect the Market total cap of BTC to lift at least by 350Bn - 500Bn in the coming months, Also FED pause opening the door for risk-on assets, China easing toward crypto regulations is also the positive signals. Note: The information and publications are not meant to be, and do not constitute financial, investment, trading, or other types of advice or recommendations supplied or endorsed by publisher. @All copyrights are reserved. Contact for permission
BITSTAMP:BTCUSDLong
by f_moazzam22
5
Bitcoin to $100KOverview Bitcoin is the best litmus test for the crypto market. Whenever I can't get a read on a particular token, I refer back to Bitcoin. After reviewing the chart I believe Bitcoin is on route to $100K. Honestly, I wouldn't be surprised if it rockets pass this price and hits the next key Fibonacci level around $150K but that is months down the line. For now I'd like to stick with a March '24 prediction. Trading Patterns Bitcoin appears to be setting up for an Inverse Head & Shoulders or a Cup & Handle pattern. While both are bullish signals it does imply there will be a temporary dip in the price before further buying volume ensues and takes it to new highs. Scenario 1 (Inverse H&S) An Inverse H&S could result in a correction back to $35K-42K if it comes to fruition. Scenario 2 (Cup & Handle) A Cup & Handle could result in a correction to the same range with a more likely price target near 42K. Supporting Theory You may be wondering what the white vertical line is in both of the trading pattern scenarios. It marks the next FOMC meeting which occurs on 19-20 March 2024. I believe a significant correction is going to occur within the equity market following this meeting and while its timing in relation to the development of these trading patterns could be coincidental, I believe it supports the idea that the crypto market may also experience a drawback. Now I think it goes without saying that I don't believe these corrections will be a market reversal back into a crypto winter. I just believe the FOMC is going to finally make changes regarding the Fed Rates and that, when it does, regardless of whether they are increased or decreased the large investors are going to withdraw for two reasons: 1) Realize profits 2) To get a feel for the direction of the market moving forward Once the second condition has taken place then I believe both the equity and crypto markets will continue their rallies as the "whales" reinsert their liquidity. March Price Prediction Everything aside, I believe Bitcoin will continue to grow for the next week or two. While there is not much room left before the prior trading patterns would need to see a correction, I believe that Bitcoin could reach 69K before the next FOMC meeting.
COINBASE:BTCUSDLong
by Shepherd_Investor
1
BITCOIN - March Highier Timeframe Breakdown - 01/03/24'Hello everyone, lets jump in.. So bellow you can find screenshots, with every relevant timeframe to be looked at, to make a better educated guess at least in my opinion. First of all, I need to say, that this Idea DO NOT have to play out immediately, IF ALL! BUT Since Highest Timeframe we operating with is 3Month, there is still like 60Days window in which this CAN play out. 3M 2M 1M 15D 10D 5D So this Whole IDEA, is Based on 3M candle/timeframe (basically quarter outlook), which still follow my Q1+FED outlook as next.. --> In which I ment there is higher chance of continuing Higher with time UNTIL FED start cutting Interest Rates... and in the mean time we Rallied.. BUT since we are reached Price targets close to ATHs' I think is needed to be even more carefull.. and this due to --> If we take a look at 3M chart, we can see that prior times in History, when we reached Closing price of 3M candle, IT WAS THE TIME WHEN WE PEAKED WITH PRICE FOR PROLONGED PERIOD OF TIME. (And we already did it!) but there is still almost 2month to next FED meeting.. So Main Question is IF we will go Above ATHs' in this period of time, or We will follow what happend prior Cycles and thats correction... AND My honest answer is that I DONT KNOW, BUT if I HAVE TO pick one, I REMAIN EXTREMLY CAUTIOUS, since Right Now I see this more as "fake bull market" BECAUSE , and this "Because" have two aspects- Micro/Macro economy and then what Charts are saying.. Firstly, if we check out Charts, we can see on EVERY SINGLE ONE, that we reached with Closing Price close to where ATHs Closes are, BUT we dont Close above them.. Which In my understanding of Market Increasing chances for revisiting Lower prices "when correct time come" BUT, in the meanwhile, there is still "TREND" which I would say is still "bullish" and for that Reason we can "be trying" to reach or break ATH.. and only "time shows and chart tell" if we will go there.. BUT , as I ment.. there is other factor and thats.. Micro/Macro economy outlook at things, And I would say.. "ITS NOT THE BEST ONE"! --> Inflation is STILL HIGH (due to FED) and it looks like it slowly starting to elevate again, Unemployment is STILL relative close to all time Lows, and Interest Rates are STILL HIGH.. on top of that, from last reports it looks like economy start Slowing down a little bit BUT Markets still looks like "they dont care". Which In my opinion is BIG Mistake, and for that reason, Im trying to evaluate things on Daily basis when New Important Market/Economy News happen.. especially, in time "Where people believe only way of going is Highier!"... AND THATS BECAUSE - if we again, come back to our 3M chart, we can see there is 30D left on it.. and in those 30days market can change a LOT, AND We already reached price where In history was our "turning point" chart wise.. So, in my opinion, being a buyer right now is more risky then being seller.. , but I still label this IDEA as Neutral, since there is still lot of time remaining for Price to behave irational. Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
Shorting Bitcoin at $62,000Bitcoin bears have been getting wrecked for the past few months, but I think Bitcoin is finally forming a peak here. I'm willing to take my chances and will exit my trade if BTC continues to show bullishness above $64k. So far this week Bitcoin has increased by GETTEX:14K in just 3 days. I shorted at $62k, the price is now above my entry at around $62.9k. I'm comfortable leaving my shorts opened as long as Bitcoin doesn't continue climbing above $63.9k. Ideally I would like to see a strong move down over the next few days. For now I'm still leaving my shorts opened and will see how things are trending later BTC had a rejection near $63.9k and is starting to show some weakness here. I'll give another update later today to see how things are looking. Yesterday I emphasized that the the $61,561 price level is a key price level to monitor, and this remains as my key price level today as well. BTC is trying to find support here and ideally I would like to see a failed support that leads to a drop down lower.
BITSTAMP:BTCUSDShort
by realchartchamp
Bitcoin to hit the All Time High.Hello Traders, Welcome to the latest update on Bitcoin in the daily timeframe. From $50k, BTC has surged to GETTEX:64K , marking a 27% rally over the past 6 days. The daily close at $62.4k indicates a step forward towards the possibility of BTC hitting its all-time high (ATH). Moving forward, BTC faces the first layer of resistance between $64.8k and $65k. A successful break and close above this level, whether in the daily or weekly timeframe, could pave the way for BTC to target its ATH at $69k. While many have been anticipating a market correction, it has yet to materialize. Does this mean we are at the peak of the correction? It's uncertain. However, whether BTC reaches its ATH or establishes a new one, a correction appears imminent. It could occur either before or after the halving, but it's on the horizon. That's all for now. Thank you for reading. Regards, Team Dexter
by Dexter_The_Trader
BITCOIN $BTCUSD - Feb. 13th, 2024BUY/LONG ZONE (GREEN): $46860 - $56275 DO NOT TRADE/DNT ZONE (WHITE): $42580 - $46860 SELL/SHORT ZONE (RED): $35550 - $42580 Overall the market has a bullish sentiment, price has recently broken above my previous buy zone so I decided to rechart new areas that I would look to enter at. Levels and zones are drawn from the daily and weekly timeframes. I threw a few of the recent events around structure that I would look directly towards for new information on where price is headed and around where to enter. There is a lot more ideas on a lot more timeframes, but this is what I immediately look towards. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
BITSTAMP:BTCUSDLong
by TonyAiello
BITCOIN - 27/02/24' - Weekly Update Hello everyone, hope you guys doing great.. Firstly I would like to adress something from *Last update*, since some of you may been confused.. When I ment in update, that I expecting *Bearish Sentiment for 0-48hours* - IT MEAN, I EXPECT BEARISH SENTIMENT FOR 0-48 - Not for 5D, Week, Month etc.. and as far as Im concern, thats exactly what happend, before market continued remaining bullish to this day.. Secondly, since is close to end of month, and I would like to break down Market from Top to Bottom, I decided to wait With Update till Friday, when Monthly and other Highier time frame candles will close.. Meanwhile, I would just like to point out THAT --> Previously, when we reached closing price of 3M candle(either went slightly above or under), both times after that in upcoming days to weeks to MONTHs, we got some type of correction.. I will get deeper to it Friday... Until then, be carefull guys, and dont forget to use PROTECTION while you wildin out there ^^ Joe
INDEX:BTCUSD
by cryptocapitaltrading
BITCOIN is creating a potential Cup & Handle formation.BTC is currently, potentially creating a smaller Cup & Handle formation. (In white) And, a potentially larger Cup & Handle formation. (In Blue) Bitcoin has been on an absolute tear the past few days, and these formations could come into play down the road if price action continues to fill them out. Whether it will be the smaller (White) Cup & Handle, the larger (Blue), or a Cup & Handle pattern at all remains to be seen, but will become clearer in the coming weeks/months. These formations are speculation at this point, but I just wanted to point out the potential for each to occur down the road if the current trend continues. Good luck, and always use a stop loss.
Long
by MetaShackle
btcusdtHey Bitcoin Fam! 🚀 Check out our latest update on Bitcoin - we're seeing a chance for +18% gain! Right now, Bitcoin is a Sideways Ranging pattern, and we've spotted a small selling zone at $52,000 (just the last high). The big picture is shouting "buying opportunity!" Our nalysis predicts Bitcoin cruising to these targets: First Target: $52,000 Second Target: $54,000 Third Target: $60,000 Quick heads up: Our analysis is all about education. Trust your own market vibes and trade with your proper knowledge. We're all about sharing the knowledge for free. Happy trading, and let those gains roll in! 🌟💰
INDEX:BTCUSDLong
by oraclpips
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BITSTAMP:BTCUSDShort
by TrojanBible
8
BTC pain is next Alright, listen up, folks. I know things might seem rocky right now in the world of BTC, but let me tell you something – this is not the time to panic. Sure, there might be a correction looming on the horizon, but that doesn't mean it's the end of the world. In fact, it's far from it. Think about it. The big boys, the whales, they've been in this game for a while. They know how to navigate these waters, and they're already sitting pretty with their profits, probably even leveraging their positions. But what about us? Are we going to let fear dictate our actions? No way. This is our time to shine. This is our opportunity to show resilience, to show strength, to show that we're not going to be shaken by a little turbulence in the market. Remember why you got into this game in the first place. Remember the potential, the excitement, the thrill of being part of something revolutionary. So, I urge you, don't succumb to panic selling. Don't let fear cloud your judgment. Instead, stay calm, stay focused, and stay determined. This is just a bump in the road, a test of our resolve. And I have no doubt that we will come out of this stronger than ever before. Believe in yourselves, believe in the power of BTC, and together, we will weather this storm and emerge victorious. Let's show the world what we're made of. Let's hodl strong!
BITSTAMP:BTCUSDShort
by TrojanBible