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Bitcoin Price Could Drop to $42,000Bitcoin price faces potential decline Bitcoin is currently trading at $43,241 after failing to surpass the $44,500 level, leading to minor adjustments. While broader market prospects suggest an upward trend at the time of writing, the short-term picture leans slightly towards a downward trajectory. This is evidenced by the Moving Average Convergence Divergence (MACD) indicator. The diminishing green bars indicate a weakening upward trend, implying vulnerability to a Bitcoin price drop. However, BTC is likely to drop back to $42,000 or even $40,000 if the previously established support levels are breached. This is a short-term scenario, pending a stronger-than-expected NFP report. Yet, if the report is weaker or broader market signals turn bullish, a recovery from the $42,000 level becomes plausible. This would propel an upward movement, pushing Bitcoin prices beyond $44,500 and negating the bearish outlook.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin & Logical correction and refueling for the next climb...RSI has reached the overbought zone. The news is favorable. Strong fundamentals and favorable technicals can lead to magnificent climbs. Unless the events behind the scenes want to pull Bitcoin down again. In any case, according to the chart, there is a possibility of a logical correction up to the prices of around $31,000 and $32,000. Maybe a little lower than $30,000 and then move to $42,000. In my opinion, this modification is beneficial for the next moves.
by Farid-110
BTC/USDT BinanceBTC/USDT Binance 4H Hollow Candlesticks As the bull run continues, a parallel bullish channel has formed. If the price break out this channel, a new TA is needed. A Rising Wedge has also been formed, where the rule says that is generally a bearish signal as it indicates a possible reversal during an uptrend. Rising wedge patterns indicate the likelihood of falling prices after a breakout through the lower trend line. The Support and Resistance areas are also clearly visible. The Support point is quite strong and is based on the Golden ratio extension of the Fibonacci Retracement . Through a previous repeated movement that has been resized ( Bar Pattern ), we can assume a future movement of the #BTC price. Market Cap: $1.43T +0.89% 24h Vol: $54.15B +34.84% Dominance: BTC: 51.5% ETH: 17.5% Good Luck #CryptoHellas Team
by CryptoHellas
1
BTC - Bullish or Bearish? Greetings Everyone, We have been looking at BTC's emerging pattern since it jumped passed $35K. What it has been looking like for the majority of the time is a wedge patter with flat top trendline and ascending bottom trendline which is a bullish pattern i.e., probabilities favoring breaking out instead of breaking down. This pattern will end around December 18. The past couple of up moves however broke above the flat top trendline before falling back into the wedge pattern. While it will have to be confirmed as the time passes, if a definitive break out does not happen in the next couple up moves, it may contribute towards a ascending top trendline (red line on top) which creates a rising wedge pattern that is bearish i.e., probabilities of the break down will increase. If formed, this pattern will end around new year's eve (Dec 31). As I mentioned, this still have to play out in the next days and weeks but the break out or break down can happen any time between now and the dates of pattern completion. While we hope for the breakout, be aware of the changes in the pattern so that you can minimize your risk as soon as a pattern confirms. Note: This is not financial advise and shall only be used for educational and/or entertainment purpose.
by figuring_out_the_dream
2
Bitcoin Price Poised to Return to $45,000 LevelThe cryptocurrency analyst behind the handle X @rektcapital has evaluated the Bitcoin price trend and predicts that BTC could return to the $45,000 level before the fourth halving event, expected to occur in April 2024. The analyst notes repetitive trends in the past three cycles and anticipates a pullback to the $42,000 level after BTC reaches $45,000. The analyst has identified the $40,000 to $42,000 range as the most crucial for Bitcoin, marking it as the peak in the ongoing cycle. The analyst believes $36,300 is a medium resistance level, and BTC may find support in the $31,000 to $32,500 range. The current Bitcoin price is $41,725 on Binance at the time of writing. BTC has surged 10% in the past week, bringing nearly 4% daily gains for holders.
BITSTAMP:BTCUSD
by Gwen_Humuna
Bitcoin Eyes Upside MoveBitcoin (BTC) has breached the resistance level of $38,008, though not decisively, trading at $38,139 at the time of writing. There is still potential to extend towards the higher range at $38,414 or, in the case of a strong uptrend, reach $40,000. The Relative Strength Index (RSI) is moving upwards and is about to cross above the signal line (yellow band). Historically, each time this crossover occurs, BTC reacts with a bold upward move, interpreting this intersection as a buying signal. Similarly, the Awesome Oscillator (AO) indicator continues to hold in the positive territory, indicating that the bulls still maintain control despite strong downward price pressure. On the other hand, increasing selling pressure could push the price of Bitcoin down below the support level of $38,008 or, worse, test the support at $35,487. In a more severe scenario, a downturn could cause BTC to lose the confluence support between the horizontal line and the 50-day Simple Moving Average (SMA) at $33,912. Breaking and closing below this level would invalidate the bullish outlook, setting the stage for further downside towards the psychological level of $30,000.
BITSTAMP:BTCUSD
by Gwen_Humuna
3
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