BTC Bitcoin Price ahead of the FOMC decision next weekWhile Bitcoin has experienced a recent surge in price, there are notable indicators suggesting caution. Investors have begun to take profits, signifying a potential shift in sentiment. This could be indicative of a more cautious market stance, especially considering the prevailing uncertainties.
A critical concern arises from Bitcoin's current position below its 200-week moving average. Historical data shows that this zone has often acted as a formidable barrier for Bitcoin's price movement. This pattern suggests that a sustained breakout above this level might prove challenging in the near term.
The recent inflation figures from the Consumer Price Index (CPI) have sent shockwaves through financial markets, with a year-over-year increase of 3.7%, surpassing earlier estimates. This level of inflation, combined with the Federal Reserve's current interest rate range of 5.25% to 5.5%, is a cause for concern. The surprising stability of Bitcoin amidst such economic turbulence may not be sustainable in the long run.
Adding to the apprehension is the concept of 'sticky' inflation, where prices continue to rise even in the face of elevated interest rates. The core CPI data, excluding energy price fluctuations, still reported a yearly increase of 4.3%, albeit lower than the previous month. This persistent upward trend in core CPI since September 2022 raises valid questions about the Federal Reserve's strategies moving forward.
In light of these factors, it would be prudent to approach the current Bitcoin market with a degree of caution. While the cryptocurrency has shown resilience in the face of economic headwinds, the potential for increased volatility and the presence of significant barriers in its price movement could pose challenges for sustained bullish momentum.
My Price Target for BTC Bitcoin is $23700.
Looking forward to read your opinion about it!
Bitcoinpriceprediction
BitcoinWe may see 1270000 again if breaks the support.
Careful upside is very limit as resistance is strong and retested to further fall from here.
Best buying may come next year Jan/Feb 2024..
Stay away from the bitcoin as per technical analysis.
Upside break should be very fast as of now or it will reject and fall in coming weeks or months.
#Bitcoin - thoughts out loud #7Good evening from Ukraine!
Dear colleagues, I am glad to welcome you!
Without logic, there is no way to fall further. For the current period of time.💸💸💸
Because this is my vision of the situation, because these are my thoughts out loud. Thank you.
Thank you all for your attention, I wish you success.
Sometimes you win/sometimes you learn.
P.S.
...Think positive)
#Bitcoin - thoughts out loud #5Good evening from Ukraine!
Dear colleagues , I am glad to welcome you!
Without a logical justification, the vision of the situation I show on the graph may not be realized. The position is set in the range of 25800 - 26300.
Thank you all for your attention, I wish you success .
Sometimes you win /sometimes you learn .
P.S.
...Think positive)
Bitcoin | Cup and Handle | $138,471Time seems to zoom by, and when you glance at the Bitcoin chart with 2014 on one end of the timeline and the current cycle on the other, it's astonishing how each market cycle bears striking resemblances. Our focus today is on the Weekly timeframe , where we've unearthed intriguing insights by comparing market cycles.
If you examine our chart closely, you'll notice a recurring pattern - the Cup and Handle . This pattern emerged after the market bottom in 2015, reappeared in 2019, and has now resurfaced in 2023. The resemblance is uncanny, as Bitcoin's price appears to be faithfully following this pattern.
To further enhance our analysis, we've introduced a rising Fibonacci channel that highlights potential rising support lines. Additionally, we've incorporated a descending Fibonacci channel to approximate resistances and make predictions. By employing these two methods, we've calculated a potential target for the next cycle, and it's an eye-opener - $138,471. This projection is nearly double the previous all-time high reached in 2021.
If you find this analysis intriguing and insightful, don't hesitate to show your support! Feel free to hit that 'boost' button and share your thoughts in the comments below.
Bitcoin to 21kThe weekly chart does not look good for Bitcoin. Now that we have only one more day in this weekly candle, I highly doubt that it will end up in the green. This basically means that the candle is going to close below resistance.
If that is the case, then I am most certain that the most recent daily cycle top happened at day 12 of this current cycle. This means that Bitcoin is most likely going to experience a decline in september and at least for the first half of oktober.
This could be a good entry for the folks who missed out on the 15k lows of December last year.
BTC forecast | JPM analysts foresee a stabilizing crypto marketAfter the last price target was reached:
Now per a Bloomberg report, analysts from JPMorgan Chase, including Nikolaos Panigirtzoglou, have recently published a research note indicating that the cryptocurrency market is poised to find stability in the coming time.
The report attributes this prediction to a reduction in the open interest of CME Bitcoin futures contracts, a typical sign of a diminishing price momentum.
The analysts are of the opinion that the recent downturn in the cryptocurrency market, marked by a nearly 12% decrease in Bitcoin's price over the last fortnight, is approaching its conclusion.
In the past, when banks were pessimistic about crypto, it was a good time to buy. When they are optimistic, they aim to trap retail investors at higher prices.
I don't foresee a stabilization in the price of Bitcoin until it reaches a stronger support, such as $23,900.
Looking forward to read your opinion about it.
#Bitcoin - thoughts out loud #4Good evening, we are from Ukraine!
Dear colleagues, I am glad to welcome you!
Local distribution is not yet complete. After a sharp price drop, the instrument generates a margin. There is no culmination of sales, so the possible momentum is even lower. If there is no final impulse, then an upward movement is inevitable.
The mood is positive, waiting for the asset to gain.
Thank you for your attention, and a special thanks for your likes and comments.
Sometimes you win/sometimes you learn.
#Bitcoin
bitcoin predictionBitcoin is currently in an 'C' upward trend.
Scenario 1: There is a possibility that it may experience a decline again from the most common 1:1 extension length of 27284.
Scenario 2: Due to strong selling pressure, it might not reach the 1:1 extension length and could start declining from now on.
Scenario 3: As everyone is anticipating further downside, it could actually rise up to 29000.
Bitcoin BTCUSDT Price Analysis (8h)Greetings, traders and investors!
Today, our spotlight is on Bitcoin, dissecting the 8-hour timeframe for insights.
What's caught our attention is an intriguing phenomenon - a Hidden Bullish Divergence. Let's break it down: RSI took a dip, heading into oversold territory, marking a Lower Low. Now, contrast that with BTCUSDT's price, which dropped but managed a higher low. This interplay defines Hidden Bullish Divergence.
Now, the plot thickens as we focus on a support at $25,200 . This juncture could launch a potential price recovery up to $27,700, where a dynamic resistance level awaits. It's a key zone to watch.
Amidst our optimism, a word of caution. Keep a close eye on that $25,200 support. If the price breaches it and maintains the stance below, especially on the Daily candlestick, our once-reliable support could fade.
Happy trading!
#Bitcoin - thoughts out loud #07Good evening , we are from Ukraine!
I expect further depreciation of the cryptocurrency market.
But if we see the strength of the buyer at the price of 25k, we will break through local highs. But judging by the current situation, the chart shows weakness.
That is, after exiting the trading range (breaking through local highs), we correlate the spread to the volume, which indicates a narrowing of the spread and a decrease in volume several times.
For further upward movement, we need new forces. At this time, they are absent.
Thank you all for your attention, I wish you success .
Sometimes you win /sometimes you learn .
#Bitcoin
BTC Bitcoin | SEC Delays Approval Of Ark’s Revised Bitcoin ETFThe approval process for the Ark 21Shares Bitcoin ETF listing on BZX has been delayed by the US Securities and Exchange Commission (SEC).
The SEC has initiated a postponement of its decision and has also introduced a 21-day window for the public to provide comments.
This delay is noteworthy as it represents the SEC's inaugural instance of extending the timeline for the newest set of applications for Bitcoin spot ETFs.
This situation could potentially foreshadow a comparable near-future outcome for other competing applicants.
Because of the arguments above and the lack of volume, I expect to see a retracement to $27500.
Looking forward to read your opinion about it!
#Bitcoin - thoughts out loud #3Good evening, we are from Ukraine!
Dear colleagues, I am glad to welcome you!
The chart shows the Last Point of Resistance (LPSY) signal.
I expect the asset to rise above 32000.
Thank you for your attention, and a special thanks for your likes and comments.
Sometimes you win/sometimes you learn.
#Bitcoin
BTC performed a sweep to both side.The Move Is Today!bitcoin swept both LATE longers and Shorters. Today is for bitcoin to make its move which I think its downside towards 27.9 then holding the equilibrium around there.After that we have to be glued to the charts to figure out the next move(More Downside IMO).
Thanks for watching
IMPORTANT LEVEL FOR CRYPTO MARKET CAP!CRYPTOCAP:TOTAL 1 (2D)
Decision time for the whole of the #Crypto Market.
We have formed an Ascending Triangle currently up against heavy resistance between ~ $1.13T & $1.18T.
Break up, obviously good things to follow.
Lose the trend line and we target the red circle.
MIL:BTC EURONEXT:ALTS
#Bitcoin - thoughts out loud #18Good evening, we are from Ukraine!
Dear colleagues, I am glad to welcome you!
30,000 was successfully reached, albeit with a slight delay. The graph shows the effort result and the volume. In the future, I expect a correction with a possible resumption of the upward movement from certain price levels. I'm targeting 29000-29100 because we need a successful test, in other words, the last point of resistance. Under other circumstances, a drop lower is possible.
Thank you for your attention, and a special thanks for your likes and comments .
Sometimes you win /sometimes you learn .
#Bitcoin
btc/usdt#Bitcoin Update:
In the complex world of financial markets, patterns emerge in the form of "impulse" and "correction" waves. Currently, #Bitcoin is constructing its initial wave, indicating potential upward movement. Our analysis predicts a short-term decline followed by a strong buying opportunity.
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#Bitcoin - thoughts out loud #17Good evening, we are from Ukraine!
Dear colleagues, I am glad to welcome you!
After the weekend, a clearer situation has been formed for our own understanding, which indicates that locally the price of the first cryptocurrency should stay above 28680, in other words, a false breakout of the lows and an additional test of floating propriety to squeeze weak hands out of the market. The target is 28680-28700, the support range from which we can see the resumption of the upward movement.
In the absence of professional buyer activity, the asset is expected to depreciate to certain price levels.
Sometimes you win/sometimes you learn.
#Bitcoin