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Btctrading

$BTC Analysis after Spot Bitcoin ETF Approval- The white resistance zone has been flipped into support - There is very strong resistance in the red resistance zone ($46,270 to $48,264) - The light blue trendline is my strongest resistance target around $49.1k - There has been a brief pump up to the light blue trendline and a strong rejection down that resulted in a long wick back down - Bitcoin is currently trying to flip the lower end of the red resistance zone into support at $46,270
BITSTAMP:BTCUSD
by realchartchamp
1
BTCUSDT. Here's where we we're headed tooIf the market momemtum/sentiments and fluctuating prices of the crypto market is confusing you, technicals analysis is your best friend. 1) Monthly: No explanation needed. We're on a clear path to 60,653, after a couple of retest on the month + week support/resist zone. 2) Weekly: Similar story on the monthly, with 2 minor resistance levels to clear. Scalpers zone right now, milking short term volatile gains. Good time to enter and hold TBH. #NFA #MyOwnOpinion 3) Day: Talking the month and weekl resistance zone, I forecasted an ascending triangle pattern for bullish momentum to continue, after completing its sideways trend *The longer the consolidation, the stronger the pump. My personal entries. - Entered long on 41,363, when resist turned supoort. - Buy limit on 46,700 (expecting retracements from 50,000 level
Long
by lesnermj
BitcoinMost Altcoins have been in the red since the weekend and the past 24 hours have been no different. Ethereum is currently down 2% and below $2,200. Binance Coin (-1.5%) has dropped below $240. Even larger daily drops come from Ripple, Dogecoin, Polkadot, and Polygon. Solana has lost 5% on the day and is down to just under $70. Cardano and Avalanche have dropped the most compared to larger-cap Altcoins. ADA is down 6%, while AVAX is down 9% and trading below $40. The cumulative market capitalization of all crypto assets has fallen by $50 billion since yesterday's peak of $1.6 trillion and dropped to $1,550 on CMC.
INDEX:BTCUSDShort
by D-Venn
3
Bitcoin Price Hovers Above $40,000 Ahead of FOMCBitcoin (BTC) is showing weakness ahead of the Federal Open Market Committee (FOMC) meeting scheduled for December 13. Federal Reserve Chairman Jerome Powell is expected to provide an economic forecast summary after the release of the Consumer Price Index (CPI) data, indicating that inflation in the U.S. has decreased to 3.1%, aligning with market expectations. Bitcoin Price Prepares for Increased Volatility Before FOMC Investors have shown caution and reduced risk ahead of the FOMC meeting, evident in a 40% decrease in trading volume over the past 24 hours. After the announcement of the U.S. CPI data for November, the Bitcoin price briefly surged to $42,000 before retracing. Looking ahead, the prevailing view is that the Fed will maintain interest rates at the target range of 5.25-5.50%. In the latest meeting in November, the FOMC kept interest rates steady, as in the September meeting, signaling that rates may remain unchanged in the near future but are still open to change based on economic conditions. The decision to pause interest rate hikes is widely anticipated, providing the Fed with additional time to determine whether the current interest rates effectively curb inflation's impact on economic growth. The range of 5.25% to 5.50% was raised in the July meeting, marking the 11th interest rate hike in the 2022/2023 cycle, all aimed at managing inflation. This explains the observed unease in the Bitcoin price. Implications for Bitcoin Price The increase in interest rates makes investors more cautious, negatively impacting risk-based assets like cryptocurrencies. According to the CME FedWatch tool, there is a 97.1% chance that the Fed will keep the Federal Funds Rate target at 5.25% to 5.50% in the upcoming FOMC meeting, while 2.9% of opinion polls predict a change to 5.50-5.75%.
BITSTAMP:BTCUSD
by Gwen_Humuna