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BTC, Upctober coming?FA: Credit borrowing has risen as a result of lower interest rates as a response to periods of high market volatility. The rate has historically fallen as low as 0% in such conditions, which in turn further catalyzed money supply growth and inflation. Similar actions by central banks in Europe, China and Japan will cascade into a similar process. Technical Analysis (TA): On the monthly time frame, we observe that September’s candle has closed above August's, demonstrating absorption, which is a highly bullish signal. This suggests significant buying pressure. Moving down to the weekly time frame, there’s a noticeable Fair Value Gap (FVG), which could become a target for manipulation in early October. Following this potential liquidity grab, the price is expected to resume its upward momentum, potentially driving it to all-time highs (ATH) or beyond. Bitcoin (BTC) has been consolidating for over six months, and this prolonged accumulation phase indicates the potential for a strong upward breakout, with targets in the $80,000 to $100,000 range.
Long
by Almenio
#BTC/USDT Weekend Update!#BTCUSDT: Not much is happening—just sideways price action on low volume due to the weekend. Expecting more volatility on Monday after the weekly close. For now, OB remains untested so be ready if that gets tested, possibly $63k-$64.3k. It will give us some good entries for scalp and swing in altcoins. With both the monthly and weekly closes approaching, these will be crucial. We’ll need a few confirmations for the anticipated "UPtober." I’ll be sharing more details on Monday. Alts? Alts might be choppy for now, but I expect strong rallies next month. Remember, dips are for buying! Have a great weekend folks! Do hit the like button if you like it and share your views in the comment section. Thank you #PEACE
by Cryptorphic
4
#BTCUSD 1HBTCUSD (Bitcoin / US Dollar) Timeframe: 1-Hour (1H) Pattern: Channel A horizontal channel pattern has been identified on the 1-hour chart of BTCUSD. This pattern is defined by two parallel trendlines, with the price bouncing between the upper resistance and lower support levels. The channel suggests that Bitcoin is trading within a range, with neither buyers nor sellers gaining full control, leading to stable price movement within the channel. Forecast: Buy Within the Channel The current forecast suggests a buying opportunity within the channel, particularly as the price approaches the lower boundary (support). Traders can look to enter long positions near the support level, aiming for the upper boundary (resistance) as a target. The pattern indicates potential profits through buying low and selling high while the price remains contained within the channel. Technical Outlook: Support Level: The lower boundary of the channel, where buyers are expected to step in and push prices higher. Resistance Level: The upper boundary of the channel, which may serve as a target for bullish positions. Key Levels to Watch: Look for bounces off the support line to confirm bullish entries, with resistance levels as the target. Traders should be cautious of a potential breakout from the channel, which could shift market direction. Confirmation through bullish candlestick patterns or an increase in buying volume near the support zone would be ideal for entry. As always, be mindful of Bitcoin-related news or regulatory changes that could cause sharp price movements and influence the validity of this channel trading strategy.
BINANCE:BTCUSDLong
by PIPSFIGHTER
Bitcoin (BTC) Technical Analysis and Trade Idea👀 👉 Bitcoin has been range-bound for a while, recently reaching a key resistance level. The bullish momentum appears to be weakening. In this video, we dive into the trend, price action, and market structure, exploring various possibilities for a potential trade setup. Disclaimer: The information provided in this video is for educational and informational purposes only and should not be considered financial advice. 📊✅
by fxtraderanthony
Bitcoin: Strong Bullish Momentum AheadBTCUSDT technical analysis update Currently, Bitcoin has been trading within a range for the past 200 days. From March 2023 to October 2023, the price fluctuated between GETTEX:25K and $32K for 224 days before breaking the range and bouncing over 130%. Now, we are observing a similar pattern, with Bitcoin trading inside a rectangle since February, between $53K and $73K. The price is approaching a potential breakout, which could occur within a month. Once the breakout happens, we may see a strong bullish move. Regards hexa
Long
by HexaTrades
Bitcoin (BTC/USDT) on daily chart - technical analysis+price preTechnical analysis Bitcoin (BTC/USDT) on daily chart by Blaž Fabjan Price Range: The chart shows a long-term descending channel with resistance at the upper trendline and support at the lower trendline. The price is oscillating between these two levels. Current Price: $63,532.74 as of the timestamp on the chart. Support and Resistance: Resistance is marked around $68,000 to $70,000. Support is marked around $55,000. Indicators Used: RSI (Relative Strength Index): The RSI is currently around 63.05, showing slight bullish momentum but nearing overbought conditions. Stochastic Oscillator: It shows an overbought condition with values above 80, indicating the potential for a pullback. VMC Cipher_B_Divergences: This is a volume momentum indicator, showing possible divergence signals, with some indications of bullish divergence. Patterns and Predictions Channel Pattern: The price has been respecting the descending channel with a number of touches on both resistance and support lines. Currently, the price is near the midline of this channel. Potential Move: In the short term, the price could follow the channel’s structure and retest the support around $60,000 or even $55,000. After touching support, a potential bounce is expected, which could lead the price to test the upper resistance of the channel at $68,000–$70,000. Trading Plan Short-term Bearish Scenario: Entry: Consider entering short positions if the price fails to break the mid-channel line (around $64,000) and shows signs of reversal, with targets around the $55,000 support. Stop-loss: Set a stop-loss just above the resistance line at $68,000. Take-profit: Look to take profits around $60,000–$55,000, depending on risk appetite. Long-term Bullish Scenario: Entry: If the price successfully tests support ($55,000) and shows bullish reversal signals, consider entering long positions. Stop-loss: Place a stop-loss slightly below the support zone ($52,000). Take-profit: Initial target could be the upper boundary of the channel at $68,000, with an extended target beyond $75,000 if the price breaks out from the descending channel. Breakout Scenario: A breakout above the $70,000 resistance with strong volume could indicate the start of a bullish trend reversal. Entry: Consider entering a long trade on the breakout above $70,000. Take-profit: Target $75,000 to $80,000. Risk Management: Given the overbought conditions on the stochastic indicator, caution should be taken with long positions unless a strong confirmation of support bounce occurs. Monitor volume and divergence signals from the VMC Cipher_B_Divergences indicator for additional confirmation. This analysis assumes a near-term continuation of the channel pattern, with a possible bullish breakout in the longer term if price action shows strength at key levels.
Long
by elfabiiani
BTC Bitcoin Technical Analysis and Trade Idea👀 👉 BTC has recently broken market structure to the upside, signalling a potential bullish opportunity. The breakout is evident on both the daily and 4-hour charts, suggesting a buying setup could be forming. In this video, we’ll analyse market structure, price action, and focus on the prevailing trend. We’ll also highlight a potential trade setup, contingent on the price action aligning with our outlined scenario. **Disclaimer:** This content is for educational purposes only and should not be interpreted as financial advice. 📊✅
Long
by fxtraderanthony
BTC: Still Under Pressure. Must Break above the 100 EMA!Hello Traders, I hope you are all doing well. If you have followed my previous BTC update, you'll know how strongly the 100 EMA is holding the price. This is the second attempt where BTC has tried to break above the 100 EMA ($60.7k), but it is still unable to do so. According to our analysis, BTC must break above this resistance on the daily chart to reach the $68k-$69k target. If not, a rejection is likely. Note: Expect volatility in the market over the next few hours. Be cautious and do your own research before investing. - Current Resistance: 100 EMA at $60.7k. - Bullish Scenario: A daily close above the 100 EMA. - Bearish Scenario: A rejection below the 100 EMA. Trade Safely.
by Dexter_The_Trader
More pain before we SoarHere in this chart, I have mapped out the price points to keep an eye on. I like the 53k-55k range and believe it is extremely bullish for us to stay above it but the longer we linger here... the more likely we are to break down. Down would be to 48k support which is not as strong as some may think. I am still keeping an open mind to the possibility of an event where we don't have a normal cycle that rallies into the next year post-cycle but instead a drastic dip back down to reality at 38k - this is also a worst-case scenario and possibly the disbelief phase of the cycle. Or I can always go with my gut and say that we already had a short-lived bull market these past few years.
COINBASE:BTCUSD
by RetiredNovice
Bitcoin (BTC) analysis | What will be the next move?Looking at the 4-hour chart of Bitcoin, we see upward fluctuations from the price of $52,000 to the price of $60,000. Bitcoin has now reached its dynamic range and is engaged with this resistance zone. As can be seen in the chart image, Bitcoin is expected to face an increase in supply from the specified resistance range at the price of $62000-$63000 and make a corrective movement towards the specified support areas and levels. What do you think? I would be happy to hear your opinion
by parhamnb
2
Bitcoin September 17th 20241. Price Action (Candlesticks): Current Price: The price is hovering around $60,141.67, as indicated by the highlighted value. Recent Trend: The candlesticks suggest that Bitcoin has been in a sideways trend for the past few weeks. The price seems to be bouncing between support at around $52,500 and resistance at $66,000. Downward Correction: After hitting the recent high around $66,000, a correction seems to have taken place, as indicated by multiple bearish candles. However, Bitcoin hasn't broken down into lower support levels, suggesting a consolidation phase. 2. Moving Averages (MAs): White Line: The white line appears to be a long-term moving average (likely a 200-week moving average), which is far above the current price. This implies that Bitcoin's price is still significantly below its all-time highs and could indicate a potential upward target if a bullish trend resumes. Yellow Line: The yellow line could be a shorter moving average (possibly 50-week), which is closer to the current price and appears to be acting as resistance in recent weeks. Interaction with MAs: The current price is struggling to stay above the shorter MA (yellow), which suggests that Bitcoin may face more selling pressure if it fails to hold support above it. 3. Indicators: MACD/RSI at the Bottom: The red and green indicator at the bottom seems to be either an RSI (Relative Strength Index) or MACD (Moving Average Convergence Divergence). The red shaded area indicates a bearish trend, while the green shows a bullish trend. Since the red is dominant and the indicator is trending downward, this points to a period of bearish momentum. The RSI, if that's what the indicator represents, looks to be below the midpoint (around 50), suggesting that Bitcoin is not in overbought territory, but also not deeply oversold. It signals weak momentum in the recent period. 4. Support and Resistance: Support: There is solid support around the $52,500 level, as seen in previous price action where Bitcoin bounced several times. Resistance: The $66,000 level seems to be a significant resistance, as price has failed to close above it in recent weeks. Breakout/Breakdown Potential: If the price breaks below $52,500, we could see a deeper correction, potentially testing lower support levels (around $40,000 or even lower). Conversely, if it breaks above $66,000 with strong volume, Bitcoin could head toward $74,000 or beyond. 5. Volume: The volume data is not visible in this screenshot, but low volume during this consolidation phase would indicate indecision or a lack of strong buying interest, while increasing volume on upward moves would signal potential breakouts. 6. Longer-Term Outlook: The long-term moving average (white line) remains above the current price, indicating that Bitcoin's overall long-term trend is still upward, even though there's short- to medium-term bearish pressure. If Bitcoin can hold the $60,000 range and break the $66,000 resistance, it could retest the highs and continue its uptrend. However, failing to do so might signal a longer consolidation period or even a deeper correction. Summary: Bitcoin is in a consolidation phase after a recent correction, with key support at $52,500 and resistance at $66,000. Momentum indicators suggest the trend is currently weak and slightly bearish. A breakout above $66,000 could lead to a continuation of the uptrend, while a breakdown below $52,500 would signal further bearish action. This chart presents a critical moment for Bitcoin, where the market is waiting for a decisive move in either direction.
INDEX:BTCUSD
by ILL_Midas