Btctrade
Bitcoin short squeeze: $85M in BTC shorts liquidated in 24 hoursBitcoin (BTC) experienced a dramatic market shift as its total liquidations surged to $97.06 million, driven by $10.98 million in long positions and a staggering $85.08 million in short positions being wiped out.
The sudden price increase caused over $260 million in market-wide short liquidations on May 20, the largest since February 28th. Ethereum (ETH) shorts lost over $115 million, followed by Bitcoin shorts at just over $97 million, according to data from Coinglass.
This upheaval occurred as Bitcoin’s price surged around 5% in the past 24 hours, reaching $71,078.15. The cryptocurrency’s 24-hour trading volume also skyrocketed by 138%, valued at $54.065 billion, with a market capitalization of $1.40 trillion.
Bitcoin at $71k: Should you grab BTC today or wait? SHORT NOWAs Bitcoin continues to dominate the cryptocurrency market, its recent price movements have caught the attention of investors and analysts alike. Over the past few months, Bitcoin has shown a significant increase, with a surge of over 100% year to date, and a notable rise of 9.8% in just the past week.
Despite reaching a new peak above $73,000 in March, Bitcoin is currently facing challenges in surpassing the $67,000 resistance level. Recently, after hitting a 24-hour high of $67,697, it slightly retracted by 0.7%, bringing its current trading price to around $66,800.
BTC Bitcoin Technical Analysis and Trade IdeaBTC Bitcoin exhibits a robust bullish trend on the daily timeframe. Our primary objective is to pinpoint a buying opportunity that aligns with this trend. Assuming price action unfolds as outlined in the video analysis, favorable trading conditions are expected. The video delves into essential elements such as trend analysis, price action insights, market structure, and a potential trade setup. Always practice prudent risk management when trading, and remember that this information serves purely educational purposes and is not financial advice. 🚀📊
BTC Bitcoin Technical Analysis and Trade IdeaBTC has exhibited a robust bullish trend on the daily timeframe. Our primary objective is to pinpoint a buying opportunity that aligns with this ongoing trend. Assuming price action unfolds as outlined in the video analysis, we expect favorable trading conditions. The video delves into essential elements such as trend analysis, price action insights, market structure, and a potential trade setup. Remember to practice prudent risk management when trading, and keep in mind that this information serves purely educational purposes and is not financial advice. 🚀📊👍
BTC will continue to break through all-time highs
Hello everyone. Today's rise in BTC is completely expected. And I started buying around 61500 and reached my TP price. At present, BTC remains oscillating in the 70,000-60,000 area. Tomorrow I will continue to share with you the trend analysis of BTC here
Swing & Day Trading Bitcoin LongsBitcoin is the cleanest uptrend of my watchlist right now. I'm looking to buy any weakness to $65,000. Daily RSI Crossover indicates we could be at the start of another bullish "cycle" providing a good risk reward opportunity. I'm preparing to execute aggressively if conditions require.
Daily closes below $65,000 or sustained movement below $63,000 would invalidate this setup.
Any trades upcoming this week will be posted below. Likes and Follows are appreciated
Btcusdt Long setupBtcusdt made a cup & handle pattern on price action
handle of the cup or flag is in the making we can trade between
the range.
Buying is recommended at the area of
54650 to 44700 with the stoploss of 36900
For the target area of Tp1 84000 Tp2 115000 & trail.
If you're a leverage trader buy at above the
breakout area of 74000. SL below 66000
Target remains the same
Spot Bitcoin ETFs Rebound with $1.3B Inflows in May |BTC LONG...Bitcoin price fluctuations have directed significant attention from investors towards meme coins. The primary reason for this shift is the higher volatility exhibited by meme coins, attracting many new participants into the market through notable success stories. This pattern frequently leads to speculative price movements when Bitcoin prices surge. So, what’s the current status of prominent meme coins aside from Dogecoin? COINBASE:BTCUSD
Bitcoin Bounces Back: Eyes on $74,000 After May 16 Surge
Bitcoin (BTC) surprised many on May 16th with a sudden surge that brought its price close to $66,000. This bullish move followed a period of consolidation and came amidst a broader risk-asset rally triggered by positive economic data from the United States. While some analysts remain cautious, others see this jump as a potential springboard for further gains, with some even predicting a push towards $74,000.
Positive Macro Data Fuels Risk-On Sentiment
The key factor behind Bitcoin's recent price increase seems to be a shift in investor sentiment. The release of positive economic data from the U.S., indicating continued economic growth, sparked a risk-on environment across the markets. This meant investors were more willing to invest in riskier assets like Bitcoin, leading to the sudden price jump.
Bitcoin Price Analysis: A Bullish Case
Technical analysts are now scrutinizing the recent Bitcoin price action. The successful break above the $62,000 resistance level is a bullish signal, suggesting a potential continuation of the uptrend. Additionally, some analysts point to the fact that Bitcoin is currently trading above its 50-day and 200-day moving averages, further bolstering the bullish case.
This positive sentiment is echoed by some prominent figures in the cryptocurrency space. Predictions are circulating that Bitcoin could reach $74,000 in the near future, with some even suggesting a potential price discovery phase beyond that.
Doubts and Uncertainties Remain
Despite the current optimism, some analysts remain cautious. The swiftness of the recent price increase has raised concerns about a potential correction. A pullback could occur if investors decide to take profits or if there's a sudden shift in market sentiment.
Furthermore, the broader economic climate remains uncertain. Rising inflation and potential interest rate hikes by the Federal Reserve could dampen investor enthusiasm for riskier assets like Bitcoin.
Focus on Key Resistance Levels
The coming days will be crucial for Bitcoin's price trajectory. If BTC can hold onto its gains above $62,000, it could pave the way for a test of the $68,000 resistance level. A decisive break above this level would significantly strengthen the bullish case and increase the possibility of reaching the much-anticipated $74,000 target.
Long-Term Outlook: Still Bullish?
While the short-term outlook for Bitcoin is uncertain, many analysts remain optimistic about the long-term prospects. The upcoming Bitcoin halving event in 2024, which will significantly reduce the number of new Bitcoins entering circulation, is expected to put upward pressure on the price in the long run.
Furthermore, the increasing institutional adoption of Bitcoin continues to be a positive sign for its future. As more major financial institutions embrace Bitcoin, it could lead to increased demand and price appreciation.
Conclusion: A Balancing Act for Bitcoin
Bitcoin's recent surge is a positive development, but it's important to acknowledge the remaining uncertainties. The price will likely continue to be influenced by a combination of factors, including macroeconomic data, investor sentiment, and technical indicators.
While some analysts predict a price discovery phase beyond $74,000, others remain cautious about the possibility of a correction. Close attention should be paid to how Bitcoin behaves in the coming days, particularly its ability to hold onto its gains and potentially overcome the key resistance levels.
Ultimately, whether Bitcoin can maintain its upward momentum and reach new highs will depend on how these various factors play out in the near future.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.
Chart Idea - Swing Short on BTCI was bullish on BTC until last Friday before the WAR news broke. It was beautifully making a bullish penant which 70% breaks towards the upside. However, it didn't happen this time and it broke towards downside and confirmed.
Since we now got the confirmation of breaking downwards, I am seeing further downside now. Currently trying to bounce from 0.382 fib level ($60K). There is no volume though and structure is really bearish. I believe it should bounce from 0.618 ( GETTEX:52K ) level. IMO, we will be seeing the following levels in next few days/week:
Support Levels:
1- Daily EMA 100 - $58673
2- 0.5 fib level - $56188
3- 0.618 fib level - $52000
4- Daily EMA 200 - $50182 (Worst case scenario IMO)
We should bounce really hard if we hit 3rd or 4th level of supports.
WHAT'S NEXT for BITCOIN? BTCPrevious analysis worked out perfectly. We are in deep profits and i placed the stops at break even. But now, what's next for BTC? Probably it will not stop now, i think it will keep pumping at least till the $71.000 area where we can maybe have a retrace till $63-65.000. But it's still too early for that. For now, let's enjoy the ride
BTC Bitcoin Technical Analysis and Trade IdeaBitcoin is currently in a downtrend, which we can observe on the daily time frame. It has been forming a pattern of lower lows and lower highs. However, there’s an interesting development when we zoom in to the 30-minute time frame.
On the daily chart, BTC retraced and moved away from an optimal entry point. But on the 30-minute chart, using the same strategy, we see a potential sell opportunity if price action aligns with what’s described in the video. In the video, we cover essential aspects of technical analysis, including trend analysis, price action, and market structure.
Remember that trading involves risks, so always manage your risk carefully. This information is for educational purposes only and should not be considered financial advice. 📈👍
BTC Bitcoin Technical Analysis and Trade IdeaRecently, BTC has experienced downward pressure. A bearish pattern is evident on the 4-hour chart. At present, it has traded into a key support zone and there’s a strong possibility we see it pullback into a resistance zone. The video discusses the prevailing trend, recent price movements, overall market structure, and presents several trading ideas for your consideration.
Please remember, the content provided is solely for educational purposes and should not be taken as investment advice. Trading involves significant risk, highlighting the importance of consistently applying strong risk management strategies.