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Bitcoin Surge Amid Stablecoin ShiftsBitcoin's price surged to a local high of $38,400 on November 24, before retracing to $37,300 at the beginning of Monday. According to Santiment data, the late October to early November price increase of this asset was driven by an increasing supply of stablecoins on exchanges. A similar outcome is expected as stablecoin dominance continues to decline. The rising mining difficulty contributes to network security, making it more challenging to launch attacks on the Bitcoin network. Adjusting the difficulty, along with halving events, ensures that the influx of new BTC into the market will gradually slow down over time. Therefore, the recent spike in mining difficulty is a significant milestone for the Bitcoin network. BTC's rise to $35,000 may be triggered by the increasing reserves of Tether (USDT) and USD Coin (USDC) on cryptocurrency exchanges. According to Santiment's data, from August 19 to October 16, 3.54% of the entire USDT supply and 0.72% of the USDC supply were transferred to cryptocurrency exchanges. Subsequent to these movements was a sudden surge in BTC prices. Santiment analysts believe that the return of USDT and USDC to exchanges, following a recovery period, will fuel Bitcoin's second bullish wave in 2023.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin 4 dummies Greetings, I have been quiet, weather has been crazy over here. Anyway... here is my thoughts on BTC rn mateos. Although the king has looked to have changed structure, imo we are technically still bullish until we see a 4hr candle close under the simple trend line (Yellow).Targets have been set (Green boxes). I've told my boiz, I expect to see bitcoin at 18k before 40k (which i have now revised to 44.9k). Expect the unexpected, this time things are different and the world is changing rapidly. Remember, nothing is guaranteed, control the controllables. Mogues (#1 DumMy) Here's a song i'm listening to repeat whilst i lern open.spotify.com
by mogues
1
BTC 4h daily analysisBearish flag patter. Equal highs with break out to collect buy side liquidity. Price is showing confirmation above previous highs, but still is in consolidation mode. We can potentially see run up to 39200 with wick above. Fibonacci. Above 0.5 we are in overpriced area. Discount area 0.786 for possible comeback, which would be the same area from where price brake through. It would also confirm blue trend line up. If your bias is short look for short term entries and imbalance area, for bigger trade look for shorts at 39 or above with a sudden price action move. If your bias is long, look for buys at 0.7-1 fib level. 4h has divergence, which shows weakness of buying power.
Short
by MadMundus
Bitcoin Emergency Analysis! Failed Triple-Top, Breakout Now!Bitcoin is attempting to break out of Weekly Resistance right now! My previous analysis showed a potential triple-top playing out which did bring us down to $35,700. That bear breakout was immediately erased and the price rocketed back into the bull channel. How do we trade this? If you're not already long from the $36,000 area, don't long just yet because this 4HR candle has not closed. Never trade a candle that hasn't closed yet, it could turn into a bear signal in an instant. If this candle closes on or near its high, consider a long with a stop loss just below the Weekly Resistance line. If a bear signal bar plays out, wait for a confirmation bar closing on or near its low below the Weekly Resistance and set a stop loss just above the resistance line. A reasonable first take profit target is $36,000 at the minor trend line, then the 200EMA below that around $35,000. Key Points 1. Bear Breakout of Bull Channel Failed! 2. Triple-Top Reversal Pattern Failed! 3. Still in Bull Channel, Remain Long. 4. Bull Breakout Attempting Now! 5. Wait for this 4HR Bull Bar to Close above Weekly Resistance. 6. RSI near 70.00 Level, Weak Indicator, Worth Noting. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
INDEX:BTCUSD
by TraderEngineering
Bitcoin Price Targets Upside MomentumBitcoin's price is currently in an upward trend, starting in November 2022. The asset has surged from $15,700 to its local high of $37,991 on November 15, 2023. BTC may encounter resistance around the psychological level of $40,000 in its ongoing bullish trend. The Exponential Moving Averages (EMA) at 10, 50, and 200 days stand at $36,918, $33,848, and $29,590, respectively, potentially serving as support levels for the asset's pullback. In case of a downturn, Bitcoin's price could retreat to the 38.2% Fibonacci retracement level at $35,861, measured from the high of $69,121 in November 2021 to the local low of $15,396 in November 2022.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin (BTC) Outlook Amid Regulatory ShiftsBitcoin's price continues to decline, but there's optimism following recent US Department of Justice actions that may pave the way for approving Bitcoin spot exchange-traded funds (ETFs). Analysts point out that one obstacle to approval is the dominance of the Binance exchange in the Bitcoin market, which has shown weakness, recording a 3% decrease for the day, particularly after news related to Binance. Testing a critical support level at $36,788, and with the Relative Strength Index (RSI) indicating weakening momentum, BTC may face a decline. Increasing selling pressure below the $36,788 support within the extended range from $36,276 to $37,301 could present an opportunity for an extended price drop, with experts predicting it could reach the psychological level of $30,000. Currently, the Awesome Oscillator (AO) bars have turned red and are inching towards the daily midpoint, suggesting a gradual bearish takeover. Conversely, rising buying pressure from investors looking to capitalize on the retest of the $36,788 level may push Bitcoin's price higher. Initially surpassing the local peak at $37,972, it could then test the higher range at $37,980 and ultimately achieve the psychological milestone of $40,000, representing a 10% increase from current levels.
BITSTAMP:BTCUSD
by Gwen_Humuna
1
Bitcoin (BTC) Short SetupOKX:BTCUSDT.P Short 1W Rising wedge + Entrance 31745 = Exit 18475 I am interested in your opinion on this algorithm of actions deposit 20% of asset order 20% of deposit leverage ×20 cross margin take profit 25+-% of order stop loss 5+-% of order day loss 1% of deposit RR 1 to 5 Entry on negative news background + At negative mood of trendsetters + No nearby reports, speeches + Bearish chart and candlestick patterns + A pool of indicators signalling a downtrend #DYOR
CME:BTC1!Short
by FelixVexelman
Bitcoin Price Trend: Potential Upside Faces Resistance at 37,972Bitcoin is currently hovering near crucial support at $36,788 after breaking into an extended supply zone from $36,276 to $37,301. To sustain the upward trend, prices need a decisive move above this level and surpass the resistance at $37,972. Until then, Bitcoin's upward potential is under threat, with the Relative Strength Index (RSI) showing no change. The Awesome Oscillator (AO) also supports a subdued outlook, with its histogram bars in red, trending towards the middle line. If this continues, the AO might soon turn bearish. Increasing selling pressure could push Bitcoin below the $36,788 support, potentially testing the rising trendline support at $35,410. In a more severe scenario, the decline might extend to the psychological level of $34,000, while the Buyers' Strength Level (BSL on the chart) remains below. However, to confirm an extended downward trend, Bitcoin must break and close below the midline at $30,824 of the supply zone (currently acting as a trend-breaking tool) extending from $30,126 to $31,524. If this level fails to hold as support, BTC could slide towards $29,753.
BITSTAMP:BTCUSD
by Gwen_Humuna
1
BTC rising wedgeBTC UPDATE: BTC is currently forming rising wedge on 4hrs TF which is bullish channel and still in uptrend on 4hrs TF in as much we are holding 35.6k 4hrs bullish OB strongly….. In as much BTC holding the support at 35.6k strongly on 4hrs TF we are good but any break of the bullish channel and break of previous lower low at 34458 will trigger the price to daily support at 31857.8 where the imbalance is so be careful and watch the BTC PA here….. Expected price if 31.8k can’t hold after break of the bullish channel will be 28.8k, 26.4k and 25k but if we bounce with good volume from 31.8k means 40-45k should be expected… Stay safe and watch the PA before making new move Follow for more market update
by MICHELXM
ADA to start growing faster than BTCCRYPTOCAP:ADA & BITSTAMP:BTCUSD The recent performance of ADA (Cardano) suggests it is a promising buy for investors. After a strong recovery from a support level of $0.23 on October 19, ADA experienced a significant rally, soaring by 65% to reach $0.40 by November 11. Although it's trading slightly below this peak, ADA is maintaining an upward trajectory, indicating potential for further growth. The currency seems poised to reach or even surpass its upper range near $0.42, which could represent a gain of around 16% from its current value. This pattern of recovery and growth makes ADA an attractive option for those looking to invest in the cryptocurrency market. COINBASE:BTCUSD
Long
by TotoParasca