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Bitcoin Update - 11/01/2024Look at the 0.618 fib level and previous around 48200. This will be a resistance zone for BTC. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
INDEX:BTCUSD
by rukshan2102
Bitcoin - A failed head and shoulders pattern?Schwager (1996) suggests that profitability from failed patterns is often greater than from correct patterns. At the moment, #bitcoin is in the process of ratifying a failed head and shoulders pattern. With the daily candle already above this 45k range, it would imply a move further to the upside. Immediate upside is 48-49k while a larger move would put us close to the ATH's that Bitcoin was at previously. A couple other things we can notice is RSI has broken out of it's downward trend and is showing strength to the upside, MACD is also turning positive. the recent #BTC ETF will also give Bitcoin more inflow and exposure into the space giving more upside potential. That all being said - This could just be the formation of the right shoulder that has taken longer to form. If CRYPTOCAP:BTC falls back below 45k and into the 43k we would need to reassess the market and see what is going on. Cheers, TCD
Long
by ChartDudes
Bitcoin Hits New All-Time High Price Above $69,000 😱😱😱😱😱Bitcoin ( CRYPTOCAP:BTC ) today set a new all-time high price above $69,000, as investors and traders rush back into the cryptocurrency market. The digital asset surged to about $69,324.58, according to price data on Coinbase. That's a 4% 24-hour rise. Over the past 30 days, the asset has soared by more than 58%. Its previous all-time high of $69,044 was set on November 2021, over two years ago. Since the start of 2023, CRYPTOCAP:BTC is up by more than 300%. Prior to that, and following a brutal bear market, it was trading for less than $17,000 per coin. The most significant catalyst is the approval and successful launch of 10 spot Bitcoin ETFs. After a decade of denials from the SEC, the tide turned in June of last year when BlackRock—the world's largest asset manager—submitted its own application for a Bitcoin exchange-traded fund. The renewed interest from big investors and other major Wall Street firms that followed kickstarted a bullish Bitcoin rally, and the asset began to climb back up the price charts. By the end of the year, Bitcoin ( CRYPTOCAP:BTC ) was trading comfortably above $42,000. When the Securities and Exchange Commission finally approved Bitcoin ETFs in January, the price of Bitcoin got a modest bump, but then dipped as crypto traders appeared to "sell the news" and took their profits. Since late January, however, the price of Bitcoin ( CRYPTOCAP:BTC ) has skyrocketed as interest in ETF products increased and retail investors came back into the fold.
BINANCE:BTCUSDLong
by DEXWireNews
Bitcoin Bulls Are Not Quitting HereTraders, As you might know, I went short on BTC at 60,500. That was when price lived just under our Multi-Year Support/Resistance TL from 2019. Obviously, I was betting that we would NOT break straight through. I was wrong and as I told my followers in our private chat, I never mind trading a bit of humility for some profit. Bulls have clearly demonstrated that they are in complete and total control. When the charts show me proof that I was wrong and new developments are in the making, I will quickly bow to the data. I know from experience that if I don't, I may lose valuable lost opportunities to profit more in the future if I don't. More evidence of bull control comes in the way of the following technical developments: Confirmation of a break above our TL Bull Flag formed above our TL New BLUE ascending TL spotted from 2022 Target of my Inverse H&S meets BLUE TL Exactly! As you may be aware, I have now exited my BTC short and pending further price action on Monday I may begin to re-enter BTC LONG. Until that time, I will be scouting for laggard altcoins that may still have time to pop further in attempts to play catch up. Apologies to TradingView people but I don't always have time to post all of my trades here. Stew
INDEX:BTCUSDLong
by stewdamus
BITCOIN, Massive Broadening Wedge, Targets Active + ETF Volume.Hello There! Welcome to my new analysis of BITCOIN in the daily timeframe perspective. The current bull run is still holding on and BITCOIN does not back off and is printing one hew high after the other. This uptrend is backed by real events that support the bullish case such as the Bitcoin ETFs release which is the preliminary fundament of new and fresh volume moving into the whole cryptocurrency market. When considering the developing dynamics in my technical chart perspective now it has to be pointed out that BITCOIN since it bounced several times within the 50-EMA established the ability to form this gigantic broadening wedge formation. Recently BITCOIN formed the crucial breakout above the upper boundary of the formation above which it is now developing a main bullish triangle continuation formation. There is also a major wave count ongoing which is supporting the broadening wedge development as the major waves A and B already formed the fundament of the broadening wedge BITCOIN is now continuing to form the wave C simultaneously with the bullish expansion wave. What is also an important factor that is stabilizing the bullish trend here is the horizontal support marked in orange. Taking all these factors into consideration the most meaningful insight here is that BITCOIN now activated the main target zones with the initial target zone to be reached once the bullish continuation triangle has completed with the continued extensive bullish breakouts. Once the initial target zone has been reached and the bullish BTC ETF volume is holding on together with bullish technicals the final target zone will be reached. Thank you everybody for watching my idea about BITCOIN! Support is greatly appreciated. VP
INDEX:BTCUSD
by VincePrince
12
Trading setup at IBIT gaps on US market opening👀🚨❓The BitcoinETF IBIT will open the US market with a pre-market gap up today dear Crypto Nation👀🚨 Why can this be important❓ In 6 out of 6 times when that happened we saw BTC go up at least 1,000 USD before getting down 500 USD🚀 No financial advice to open a trade at US market opening with RR 2,0... but keep an eye on the behavior today - might be an interesting trading setup in general👀 Comments💭, Likes♥️ & Follow🔗appreciated🤗 Disclaimer: Not financial advice Do your own research before investing The content shared is for educational purposes only and is my personal opinion
NASDAQ:IBITLong
by Crypto4Everybody
Something to Watch!Traders, Per usual, I am a little ahead of the crowd here. But I feel it's better to have all perspectives in mind and to be prepared for multiple scenarios than to have never seen it coming. With that being said, here's is a potential future pattern on the BTC daily that may be developing and is something we should all be watching carefully because if it plays out, Bitcoin will go to 31,600 (Yes, I am almost that confident). Here's what we have to watch: First of all, watch where our daily candle closes. It appears to be forming a bearish shooting star. Where the price closes today will be critical and is our first big clue as to what might occur next. But also, if we fail to break above that RED descending TL, more selling may still ensue. Thirdly, if we sell back down to our neckline, it could spell trouble as a small H&S pattern will have completed. The probability of the pattern playing out and further selling to continue will now be around 85 percent. But, fourthly, we will have to break that neckline (PURPLE descending TL). If that neckline is broken and price confirms with another candle open and close below it, we are most likely going back down to that 31,600 price level I have referenced so many time in past posts. Again, this post is very premature, but it is something that I think we need to keep on our radar. As you can see, quite a few indicators must trigger prior to this type of selling occurring but with each occurrence we can grow more confident in Bitcoin's future movement. Should any of the above fail, we would then have to re-evaluate the chart as it may invalidate the pattern or greatly decrease the likelihood of a 31,600 retest. Stay tuned here and I'll keep you all up to date on this developing pattern.
INDEX:BTCUSD
by stewdamus
Going Long Bitcoin HereTraders, As expected, Bitcoin has now arrived down at my $39,877 level. This is a target that I have set for the beginning of my DCA entries. I think we could come further down to my channel support areas and I will add more here if that occurs. But, if we break those supports, I will exit and look for lower entry points because, at that point, I would expect a re-visit of $31,600. I am mainly playing a quick pump and retest of the $44,500 level where I will take profits and reanalyze the charts should we get there. I have also given an update on my recent altcoin entries but unfortunately, this information is not available here on Tradingview.
INDEX:BTCUSDLong
by stewdamus
ISHARES BITCOIN TRUSTHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (IBIT chart) Trading will begin with the approval of BTC ETF (ISHARES BITCOIN TRUST). As you can see, the current trend is a downward trend. In order to turn this downward trend into an upward trend, the price must rise above 23.60 to maintain the price. However, since the volume profile section is currently formed in the 24.84-25.15 section, it is expected that the upward trend will continue only if it rises above this section. The HA-Low indicator on the 1D chart is formed at the 24.40 point, so if it shows support in the 23.60-25.15 range, it is time to buy. If you buy at the current price range, the 23.60-25.15 area is expected to be the first resistance area. With the approval of the BTC ETF, I believe that the coin market has been officially recognized as an investment market. ------------------------------------------------ The biggest issue this year is the BTC halving. Therefore, it is expected that we will prepare to continue the upward trend in the future. Have a good time. thank you -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 13401.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are points that are likely to encounter resistance in the future. We need to see if we can break through these points upward. Since it is thought that a new trend can be created in the overshooting area, you should check the movement when this area is touched. If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern. 1st: 43833.05 2nd: 32992.55 -------------------------------------------------- ------------------------------------------- ** All explanations are for reference only and do not guarantee profit or loss in investment. ** Trading volume is displayed as a candle body based on 10EMA. How to display (in order from darkest to darkest) More than 3 times the trading volume of 10EMA > 2.5 times > 2.0 times > 1.25 times > Trading volume below 10EMA ** Even if you know other people’s know-how, it takes a considerable amount of time to make it your own. ** This chart was created using my know-how. ---------------------------------
NASDAQ:IBIT
by readCrypto
Jan.9-Jan.15(ETH)Weekly market recapAs predicted in our last recap, all 11 BTC ETFs were approved. A new era has arrived for crypto. This means that more American entities will be able to purchase BTC through asset management companies. We learned from Bloomberg that the the trading volumes of the 11 BTC ETFs in the first two trading days were $4.6 billion and $3.1 billion respectively. Although for GBTC, many speculators chose to sell and leave, more funds entered the BTC ETF. After the BTC ETF was approved, BTC did not break through 50000, but ETH rose even more. We mentioned in the previous recap that the BTC ETF may have been priced ahead of time. Of course, this part is only for approval and will not affect the long-term bullish trend. So it’s understandable when traders start going long on the ETH\BTC rate. The picture above is what we used in the previous recap to show how far ahead BTC is relative to ETH. However, after ETH rose, BTC and ETH have almost returned to the same level. After all, the market will begin to price the ETH ETF and the upcoming Dencun upgrade, which will benefit the ETH Layer2 ecosystem. ETH closed the gap with BTC last week, rising above given support levels. ETH showed a long-awaited initiative. Although, like BTC, ETH experienced a correction over the weekend, the magnitude of the correction was not large. The ME indicator shows that ETH maintains its bullish trend. Although ETH faces the same situation as BTC on the WTA indicator, and it is difficult to recover from short-term rise, but it does not destroy the bullish trend at a large level. We raised the resistance level to 2700 and the support level to 2200. In summary, ETH may continue to outperform BTC this week, and we believe that ETH may hit a given resistance level. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Jan.9-Jan.15(BTC)Weekly market recapAs predicted in our last recap, all 11 BTC ETFs were approved. A new era has arrived for crypto. This means that more American entities will be able to purchase BTC through asset management companies. We learned from Bloomberg that the the trading volumes of the 11 BTC ETFs in the first two trading days were $4.6 billion and $3.1 billion respectively. Although for GBTC, many speculators chose to sell and leave, more funds entered the BTC ETF. After the BTC ETF was approved, BTC did not break through 50000, but ETH rose even more. We mentioned in the previous recap that the BTC ETF may have been priced ahead of time. Of course, this part is only for approval and will not affect the long-term bullish trend. So it’s understandable when traders start going long on the ETH\BTC rate. The picture above is what we used in the previous recap to show how far ahead BTC is relative to ETH. However, after ETH rose, BTC and ETH have almost returned to the same level. After all, the market will begin to price the ETH ETF and the upcoming Dencun upgrade, which will benefit the ETH Layer2 ecosystem. BTC did not stand above 50000 because the ETF was approved. Instead, they gave up their previous profits and returned to below 44000 again. The pin-bar is very long, and the decline is accompanied by a lot of trading volume. From an indicator perspective, the ME indicator continues to maintain a positive bullish trend. But from the WTA indicator, we see the appearance of destructive candles, accompanied by blue bars representing whales. It is difficult for BTC to resume its rise quickly. We maintain resistance 48000 and support 38000. To sum up, there is a high probability that BTC will remain volatile near the current level. The approval of the BTC ETF will allow U.S. capital to flow into the market again, and the correlation with U.S. stocks may increase, causing volatility to begin to decrease. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Bitcoin : Why the ETF News is BEARISH for BTCHi Traders, Investors and Speculators of Charts📈📉 The Bitcoin ETF approval is expected to be announced any day now - but wat does this mean for the price of BTC? When there's an unprecedented event that will affect the markets, it's helpful to return to the basics: 👉 Buy the rumor, sell the news 👉 Macro Analysis 👉 Candlestick analysis 👉 Buy the rumor, sell the news If the ETF should be declined (which seems unlikely), the price will definitely react negatively. But if the ETF is approved (as most widely anticipated), the price will likely also drop as the classic dump after good news. 👉 Macro Analysis Bitcoin is due for a correction / pullback. Even dropping to lower 30K zone would still be a lower high, classic Elliot Wave Theory before the next upwards impulse wave. 👉 Candlestick analysis BTC has made 5 consecutive green candles in the MONTHLY. A red one is definitely overdue. This will support as a "fundamental reason" for the ETF news. NOTE that I am still BULLISH on BTC. We're in the opening moments of a new bullish cycle, but there are pullbacks and corrections in upward cycles - and I'm expecting one around the time of the ETF news. If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck BINANCE:BTCUSDT
Short
by CryptoCheck-
9