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BTC/USDT.P update4h candle just closed below 236 retrace level, that means I'm currently looking for more downward momentum. I have marked 2 SRs where I think the price can potentially retrace to today, you can potentially scalp a long or DCA your long positions at that level. I am still overall bullish and this was the pull back I've been calling for days during this most recent run. No need to press the panic button as this is a healthy retrace before further upward progression can continue. Trade safely.
Short
by Nate36989
Bitcoin- Chronicle of a Break ForetoldA couple of weeks ago, I raised the question: What if Bitcoin were to remain stuck in a range between 70K and 50K for an extended period? Although this idea seems unimaginable to the bulls—who get frustrated by any statement that isn’t "Bitcoin to the moon"—this scenario is more than just a remote possibility. Recently, Bitcoin hit the 70K zone once again, and from a technical standpoint, it broke out of the flag it had been trading in for over six months. However, to me, this breakout feels more like the "chronicle of a break foretold"—the one we’ve all been expecting, where everyone’s buying, everyone’s making money. Yet, from a fundamental perspective, things aren’t looking as rosy as one might think. Technically, it seems like the price will come back to confirm the breakout. But again, from my point of view, things just seem a bit too simple . So, what if Bitcoin slips back under 65K and continues downward towards the bottom of the range at 50K? Asking for a friend. :)
BITSTAMP:BTCUSDShort
by Mihai_Iacob
11
BTC reacting at trend line on Daily TFPA touched the trend line that I've been anticipating for the past few days and now showing a nice reaction. This could potentially be the beginning of the retrace on the daily TF that I've been waiting for. There is also the possibility of a minor retrace then continue momentum upwards, if that happens, I'll jump into market longs at semi-large positions. However, if it does retrace from here, I've marked the potential reversal points in yellow circles for reference. Trade safely! *Summary: I'm currently bearish during this retrace until PA proves that the momentum continues upwards.*
by Nate36989
Is Bitcoin's Breakout from Accumulation Channel a Sign of FurtheBitcoin, the world's largest cryptocurrency, has recently surged past the $68,000 mark, setting a new local high and confirming its bullish uptrend. This significant breakout has ignited excitement among analysts and investors, who are closely monitoring the cryptocurrency's next moves. As Bitcoin continues its ascent, many are speculating about the potential for further gains and the factors driving this momentum. One of the key factors contributing to Bitcoin's recent price surge is its breakout from a long-term accumulation channel. This technical pattern, which has persisted for over seven months, indicates a period of consolidation and accumulation before a potential price increase. By breaking out of this channel, Bitcoin has signaled a shift in market sentiment and a renewed bullish momentum. Analysts and experts are closely examining various indicators to gauge the strength of Bitcoin's uptrend and identify potential resistance levels. The Relative Strength Index (RSI), a momentum oscillator, is currently hovering near overbought levels, suggesting that a short-term pullback may be necessary to consolidate gains before further upward movement. However, the overall trend remains bullish, and a break above the previous all-time high of $69,000 could signal a more extended rally. In addition to technical analysis, fundamental factors are also playing a role in Bitcoin's price appreciation. The growing adoption of cryptocurrencies by institutional investors and corporations is driving demand for Bitcoin as a store of value and a hedge against inflation. Moreover, the increasing use of Bitcoin for payments and remittances is contributing to its mainstream acceptance. However, it is essential to approach the current Bitcoin rally with caution. The cryptocurrency market is highly volatile, and prices can experience significant fluctuations. While the long-term outlook for Bitcoin remains positive, short-term corrections are a common occurrence. Investors should be prepared for potential pullbacks and have a well-defined risk management strategy in place. As Bitcoin continues its upward trajectory, several key factors will likely influence its future price movement. The regulatory landscape, particularly in the United States, will play a crucial role. Favorable regulatory developments could further fuel Bitcoin's adoption and price appreciation. Additionally, the macroeconomic environment, including interest rates and inflation, will also impact investor sentiment towards risk assets like Bitcoin. Furthermore, the competition from other cryptocurrencies cannot be overlooked. While Bitcoin currently dominates the market, the emergence of new and innovative projects could potentially challenge its position. The development of scalable blockchain solutions and the introduction of new use cases for cryptocurrencies could impact Bitcoin's market share. In conclusion, Bitcoin's recent breakout from a long-term accumulation channel has ignited excitement and speculation about its potential for further gains. While the overall trend remains bullish, investors should approach the current rally with caution and be mindful of potential risks. By carefully considering technical analysis, fundamental factors, and the competitive landscape, investors can make informed decisions about their Bitcoin investments.
CME:BTC1!Long
by bryandowningqln
i think we are ready for the Bull Run BTC has broken out ?It seems that Bitcoin (BTC) is on the verge of a breakout, with many analysts pointing to October 2024 as a crucial time. After a long consolidation period, BTC is showing signs of a potential price surge, driven by various factors like institutional interest and technical indicators. Some experts believe there may be a final dip in the short term, possibly around the $51,000-$54,000 range, before the price starts climbing higher. Analysts are watching closely for BTC to clear key resistance levels around $62,800. If it breaks through these levels, a move toward $70,000 or even $74,000 could be possible​ THE CURRENCY ANALYTICS ​ COINTELEGRAPH . Additionally, historical trends suggest that Bitcoin often experiences significant gains during the final quarter of halving years​ COINTELEGRAPH ​ COINGAPE .
BITSTAMP:BTCUSDLong
by FarookKapadia
1
BTC/USDT Reentry: Filling the Large Sell Orders Around 70KAfter being spiked out in the previous BTC setup, I decided to reenter the trade, and so far, the market is moving in our favor. An important observation is the presence of large sell orders around the 70K level, which suggests the price might first need to revisit this area before we see any major continuation. It’s unlikely for BTC to make a deep retrace to 50K before filling these orders. Technical Analysis: • BTC has shown signs of retracing into a key Fibonacci zone while still respecting the bullish structure. • The FibCloud indicator confirms that price is holding above key support levels, and we may see a continuation if momentum maintains. • The volume is increasing, particularly around the 70K zone, showing that buyers and sellers are locking in this range for potential price action. Risk Management: • Given the volatility of BTC and the presence of large orders, I’m keeping a close watch on the 70K level. • Stops have been placed below the key Fib levels to minimize potential losses if the price reverses sharply. • If the price hits this level without major bullish pressure, I may look to exit or adjust my position. While our bias remains valid, spikes like the one that triggered our previous stop loss are typical in such markets. The goal here is not to label this trade as good or bad but to demonstrate that staying calm and managing risk is crucial. The market’s conditions constantly shift, and how we adapt to these changes defines our trading success. Both sides can make money in this game—the key is how we handle it. Don’t forget to trust yourself and adjust according to the market’s signals. How are you handling your trade setups this week? Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Long
by AR33_
Bitcoin on the Brink – Bounce from 65,700 or Slip to 63,400?Alright, crew, Bitcoin is hanging right above 65,700, and it’s crunch time. If the bulls show up, we could ride this wave toward 67,800. If not, we might slip down to 63,400 for the next setup. Key Levels: Support: 65,700 – Bulls need to hold strong here. Target: 67,800 – A break higher takes us back in the green. Lower Zone: 63,400 – If the floor drops, this could be the next landing spot. It’s all about momentum now—do the bulls have the energy to hold the line, or are we getting pulled down? Keep your eyes on those lower time frames to catch the next move. What do you think—are we bouncing or slipping? Drop your thoughts, follow, and share if this chart gave you some clarity. Mindbloome Trader Trade what you see
MARKETSCOM:BITCOINShort
by Mindbloome-Trading
$BTC Daily UpdateCRYPTOCAP:BTC #BTC $65,789 resistance came in effect as expected, called the upside on point and just about 8 hours before it went BOOM! $68,546 resistance now in effect, tested once and resistance still holding, $66,961 current support which has been tested already, same has played as key support several times before, previous 1D closed weak, while volume is also dropping on 4h, RSI on 1D hovering right below overbought region while on 4H it is in overbought region, expect struggle here, some sideways movement in short term, should be good as long as the support holds, $66,323-$65,789 next key support area, next resistance areas to watch are $69,296, $70,463, & $71,304-$71,981, then we just go for the top!
COINBASE:BTCUSD
by limitlessnash
1
Is Bitcoin's Golden Cross Signaling Parabolic Moves Ahead?Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Investing in cryptocurrencies is highly volatile and speculative, and it is essential to conduct thorough research before making any investment decisions. Bitcoin (BTC), the pioneering cryptocurrency, has exhibited a remarkable surge in recent days, forming a bullish technical pattern known as a golden cross. This development has fueled optimism among analysts, who are predicting parabolic price movements shortly. Bitcoin's price has consistently climbed over the past three days, reaching its highest point since July 29th. This robust uptrend has propelled the cryptocurrency to retest the psychologically significant level of $68,000, marking a substantial increase of nearly 40% from its August low. The Golden Cross: A Bullish Signal The formation of a golden cross occurs when a short-term moving average (SMA) crosses above a long-term SMA. This technical pattern is widely regarded as a bullish signal, suggesting that the underlying asset is experiencing a reversal from a downtrend to an uptrend. In Bitcoin's case, the golden cross was formed when the 50-day SMA crossed above the 200-day SMA. This indicates that the cryptocurrency's short-term momentum has turned positive, potentially signaling a sustained uptrend. Analysts Forecast Parabolic Moves Encouraged by the golden cross and Bitcoin's recent price performance, analysts are expressing bullish sentiment and predicting parabolic price movements. Parabolic moves refer to rapid and exponential price increases, often characterized by a steep upward curve. Several factors are contributing to this optimistic outlook: • Institutional Adoption: The growing interest and adoption of Bitcoin by institutional investors, such as corporations and hedge funds, are seen as a significant catalyst for price appreciation. • Macroeconomic Factors: The ongoing uncertainty surrounding global economic conditions and inflationary pressures is driving investors towards safe-haven assets like Bitcoin. • Technical Indicators: In addition to the golden cross, other technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), are also signaling bullish momentum. Breaking Above the Falling Wedge Bitcoin's price action has also been supported by a breakout above a descending falling wedge pattern on the daily chart. This technical formation suggests that a bullish reversal is underway, further bolstering the case for higher prices. However, it's important to note that while Bitcoin has reached a new high, it has yet to close a daily candle above the resistance level of the falling wedge. A successful close above this level would confirm the breakout and increase the likelihood of further upward movement. Conclusion The formation of a golden cross and the breakout above a falling wedge pattern have ignited bullish sentiment surrounding Bitcoin. Analysts are predicting parabolic price movements as institutional adoption, macroeconomic factors, and technical indicators all point towards a sustained uptrend. While the cryptocurrency's future remains uncertain, the current technical landscape suggests that Bitcoin is well-positioned for a significant price increase. However, it's crucial to approach investing in cryptocurrencies with caution and be aware of the inherent risks involved.
BITSTAMP:BTCUSD
by bryandowningqln