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BTC Analysis in Daily Timeframe: Will it get worse?Hello traders, Here's a re-analysis of BTC on a daily timeframe. I know it looks horrible—a straight 25% dump in just eight days. Will more dumps be coming in? Let's analyze it. BTC has hit the lower support trendline with a recent low at $52.3k. BTC has respected this trendline in the past, and it should respect it this time as well, in my opinion. A daily close above this support trendline is crucial for a rebound. On the downside, the $50k range is another strong support for BTC. If we see any further dump, BTC must hold the $50k support. In the past, counting from the all-time high, BTC has dropped 23%-25% and then showed a good rebound. This time, to have a similar move, BTC must close above the support trendline. I will post another update in the weekly timeframe soon, so stay tuned and trade safely. Do your own research before investing. Regards, Team Dexter.
by Dexter_The_Trader
1
Is Bitcoin BTC and crypto scamming now or it's FUDHello, Skyrexians! This weekend was extremely fearful on the crypto market, even more, today is a true "black Monday" and not only crypto, but also traditional markets are crashing right now. The most commonly known crypto trading strategies gave false signals before the crash. Most of top crypto trading platforms and top crypto traders faces with the huge losses, algorithmic trading bots and other algorithmic crypto trading software led their users to losses and liquidation. Different automated trading bots, grid bot and other cryptocurrency trading also performed awful for most of a people. Only ai crypto trading bot allowed people not to lose. The really dark time came to the market, how to overcome all this FUD and be successful in crypto trading. We know that the most important is understanding on which market phase we are now. In today's article we will look at the different charts and time frames on BINANCE:BTCUSDT price chart and try to understand what is coming next. Monthly time frame shows it's almost done If you see our previous Bitcoin analysis you will find that GETTEX:49K was absolutely reachable. But the speed of this move really concerns us and we need to take a look at the global picture first of all. The sideways which started in March 2024 led to the first red column on Awesome Oscillator, and this is our first reminder that the bull market is not forever. This is the first sign of weakness. Momentum is gone, therefore we cannot wait for the bull run continuation to the insane numbers like $200k. Bull market is almost over! The bearish divergence and Elliott waves counting tells us that wave 5 of super cycle is done and we will enter the bear market which has never been before. Is it time to panic? We assume not! Last wave 5 shall also consists of 5 waves and we cannot see now the clear confirmation that this bull run is finished. It's weakening but will likely continue. Where it will be finished. The approximate projection for wave 5 shows us that BTC will likely reach $80k+, but not significantly higher. After that we will see the bear market with target at $35k.
by Skyrexio
3
BTC at a Crossroads: Will It Break Out or Break Down?Current Technical Overview: Support Levels: - Immediate Support: $56,000, which aligns with recent lows and a critical support trendline. Resistance Levels: - Primary Resistance: $65,000, near recent highs and an upper boundary of the descending channel. Moving Averages: - 200EMA: The 200-day EMA is acting as a crucial support level. Holding above this level is essential for maintaining a bullish outlook. Volume Analysis: - Decreasing Volume: Indicates a potential breakout or breakdown is imminent. Watch for a surge in volume to confirm the direction. Outlook: - Bullish Scenario: A breakout above the descending channel near $65,000 could lead to a significant rally, potentially targeting $75,000 and beyond. - Bearish Scenario: A breakdown below the 200EMA could see BTC retesting lower support levels around $52,000, $40,000, and $30,000. Conclusion: BTC is currently in a consolidation phase within a descending channel. The 200EMA is a critical support level to watch. A breakout above the channel could signal a continuation of the uptrend, while a breakdown could lead to a further decline. Traders should monitor price action and volume closely for the next significant move. I am in the camp of being a bit more bearish at this stage for COINBASE:BTCUSD
COINBASE:BTCUSDShort
by CryptoFallen
BTC/USD: Critical Breakdown and Bearish OutloookThe COINBASE:BTCUSD daily chart continues displaying a significant bearish sentiment. Key Technical Points: Support Levels: 1. Target 1: The price has reached the first target around $48,000. 2. Target 2: If the bearish momentum continues, the next support is around $36,000. Support Levels: - Immediate Resistance: Previous support at $52,000 is now acting as support. Moving Averages: - 200 EMA: The price has broken below the 200 EMA, a bearish signal indicating potential further declines. Bull Flag Potential: - Descending Channel failed: The price is within a descending channel, typically a continuation pattern. A breakout above the channel could signal a reversal to the upside, but currently, the trend remains bearish. Outlook: - Bearish Continuation: The break below the 200 EMA and reaching Target 1 support around $48,000 indicates a bearish continuation. The next potential target is $36,000, where significant support lies. Conclusion: BTC is currently bearish, breaking below crucial support levels and the 200 EMA. Watch for any signs of a breakout from the descending channel for a potential reversal, but the immediate outlook remains bearish with the next target at $36,000.
COINBASE:BTCUSDShort
by CryptoFallen
BTCUSD - Short Term RSI Divergences and Key Price MovmentHello, Despite the recent bearish trend, the bullish RSI divergence suggests a potential rebound. This divergence often signals a weakening of the bearish monentum and a possible upward price movement. My Bias Bearish in the short term due to the series of lower highs and lower lows. However the bullish RSI divergence suggest a potencial rebound or at least a temporary halt to the downtrend. My Entry/Exit Strategy: Entry Point: Considering the bullish divergence, entering a long position around the current price level of $60,900 could be a strategic move Stop Loss: To manage risk, set a stop loss slightly below the recent low at around $56,000. Take Profit: Potential profit targets could be set around the $64,000 resistance level an d if bullish momentum continues towards the $72,000 peak Future Prospects Watch for a break below the $56,000 support level to confirm continued bearish momentum break above $64,000 signal the end of downtrend and a resumption of bullish activity. For Traders: Given the bullish RSI divergence, consider entering a long position while monitoring key support and resistance levels. Ensure proper risk management with stop losses in place. Regards
COINBASE:BTCUSDLong
by kashifone1
BTCUSDT is showing signs of a short-term declineWith the current price of 66850, BTCUSDT is showing signs of a short-term decline. This is evidenced by decreasing trading volume and bearish momentum indicators, suggesting a potential downturn in price. Additionally, there are indications of an impending significant correction, highlighting the possibility of a period of consolidation in the near future. Traders should exercise caution and monitor price movements closely.
Short
by SafeCryptoSignals
4
Bitcoin at Crossroads!Bitcoin at Crossroads! > Bias: Neutral > Key support: 58k > Key resistance: 64k Woops, we lost 64k AGAIN. That is usually translated as weakness. So we're back in this odd range where anything can happen. Not great, not terrible. What can we do next? Wait for Monday! You see, stock markets just nuked, Warren Buffet sold $50 billions of Apple stock. Do you think he's bullish? Not very much. These are times of uncertainty and the best tool you have is to follow the trend. Right now, altcoins are getting rekt, but Bitcoin still shows resilience, as does gold. Can a run to safety follow if weakens on the stock market increases? Could happen, we're in uncharted territory. It is the first time Bitcoin had an ETF on the US stock market during an upcoming recession. Interesting times for sure. Listen, if you have money. HOLD. Don't buy, don't gamble. Wait! Guard your cash like it's Bitcoin right now. Because if the market nukes, that's when you need it most. If the market pumps, take your profits and use that cash to buy in the bear market. Don't get greedy. Yesterday, I wrote a detailed guide on how to play every cycle and I also posted a viral thread about Solana (just follow the links). Not the first time. Red flags will always be obvious in hindsight. Don't dismiss them and manage your risk properly. That means you work with BTC, Gold, and USD. That's it! Monday will be a good signal where we go next. Only the US Fed can stop this train now. The ball is in their court. I do hope we get another exit window this year, then I'm out of the market (except BTC of course). Thanks for reading and hit a follow for more updates! Duo
COINBASE:BTCUSD
by DU09
3
Bitcoin BTC price, new FED rate and Powell's speech 31/07/24Today at 18.00 UTC , the Fed will announce a new rate, followed by Powell's speech. At the very least, increased volatility is guaranteed for the evening, so hedge your positions and uses stop orders and stock up on popcorn 🍿 Trading with leverage during this period is not worth it. 🤫 96% for the rate to remain unchanged - 5.5% 👎 4% for a rate cut to 5.25% today) 🔼 A rate cut is definitely an unexpected positive and a very likely breakthrough of the OKX:BTCUSDT price upwards, according to the 🐳 blue scenario. 🔽 Leaving the rate unchanged + Powell's standard comments: “the dynamics are good, but it's still far from the desired 2% inflation and blah blah blah... - this is a continuation of the correction of the CRYPTOCAP:BTC price to $62000 according to the 💔 red scenario So which scenario is closer to your heart: 🐳 or 💔 ? Write at comment (50 🚀 and we will add BTC.D and USDT.D charts to this idea)
by P_S_trade
11
Bitcoin's Next Two Years: Accumulation to Parabolic PeakBitcoin Technical Analysis: Upcoming Two-Year Cycle Market Structure Overview Current market structure analysis indicates that Bitcoin is in the final stages of its accumulation phase before a mini bull run. Key market structure zones and projected price targets for the next two years are outlined below: Accumulation Phase Current Support Zone: $57,405 - $61,302 Bitcoin is consolidating within this range, indicating strong accumulation by long-term holders and institutional investors. Mini Bull Run Projected Highest High: $91,236 As Bitcoin breaks out of the accumulation phase, we anticipate a mini bull run with the highest high reaching approximately $91,236 . This phase is expected to be driven by increasing demand and positive market sentiment. Correction Cycle Main Support Zone: $47,620 Following the mini bull run, a slow correction cycle is projected to commence, bringing Bitcoin down to a main bottom support around $47,620 . This correction is seen as a healthy pullback, setting the stage for the next bullish phase. Parabolic Bullish Cycle First Target: $139,130 From the $47,620 support zone, Bitcoin is expected to begin a parabolic bullish cycle. The first significant target in this cycle is around $139,130 , marking a substantial price appreciation. Parabolic Cycle Correction and New Targets Maximum Target: $236,000 Following the initial parabolic run, Bitcoin is projected to undergo a correction before ascending to new heights. The absolute maximum target for this 3.5-year cycle is estimated to be around $236,000. Macroeconomic Factors Influencing Bitcoin Japanese Index Decline: The recent rapid decline in the Japanese index has introduced uncertainty in the Asian markets. Investors are increasingly looking for safe-haven assets, which could boost demand for Bitcoin. US Market Sentiment: With the US markets closing in the red on Friday and gold prices reaching an all-time high, there is a growing shift towards alternative investments like Bitcoin. Japanese Yen Weakness: The continued decline of the Japanese yen is anticipated to accelerate Bitcoin’s mini bull cycle correction. This macroeconomic trend is likely to contribute to the expected decline to the $47,000 support zone before the parabolic bullish phase. Conclusion Bitcoin's market structure suggests a promising outlook for the next two years, characterized by significant price movements and opportunities for strategic investments. The interplay between macroeconomic factors and Bitcoin’s inherent market cycles underscores the importance of staying informed and agile in response to evolving market conditions.
Long
by wikitrades
4
Bitcoin Update in Daily Timeframe: $60k IncomingBTC in the higher timeframe (HTF) got rejected perfectly from the resistance trendline. BTC once again failed to break above the resistance trendline, indicating a correction in the coming days. The $60k range holds as strong support for BTC, but there's high liquidity ranging between $55k to $58k. If the price shows further correction, it will be interesting to see whether $60k holds the price or gets rejected like before. I am placing my buy orders at $60k, $58k, and $55k for spot and leverage trades. Do your own research before investing. Trade safely. Regards, Team Dexter #Crypto
by Dexter_The_Trader
BTC - Short-term Neutral, slightly bearishBTC - as of 4:39 PM MST 8/1/24, BTC is currently neutral. We held at the 50 DMA, hit some selling down to my previous target of 63k to 64k, I expect with fear and greed neutral that BTC tomorrow could easily go either way. Based on the time BTC spent on the upper part of the long-term sideways channel, we could easily see BTC test the 100 or 200 DMA. That doesn't mean it will go straight down, we might see some buyers Friday through Sunday but I expect any bullishness in the short-term will be short-lived without a catalyzing event or a positive news cycle. A break below the 200DMA could see BTC test the lower bounds of the sideways channel (50k - 52K). Will need to keep an eye on the weekly close and RSI to indicate if we flip bullish again.
CRYPTO:BTCUSD
by DClayton
BTC is going to do something interesting...CRYPTOCAP:BTC update As I mentioned, the $63.8k level is very important, and we are currently at this point. We should either bounce from here or stay around this level for a few days before rallying to $72k. The high of July 1st ($63.8k) is crucial to hold. If we trade below it for several days, we may see a deeper pullback, which I am not expecting. A prolonged dip below $63.8k could be the first sign that we are heading towards a new macro low (below $53k), potentially leading to a bear market for the rest of the year. In that case, the next significant opportunity might not come until 2025. For now, I am holding everything tightly. This is a consolidation phase, not a bear market, although altcoins might take a hit due to BTC dominance being very bullish. Only strong coins are likely to move with BTC.
by GoldenTrades_
BTC Breakdown After Failed 5th Attempt at New ATHWe've been watching the upper trendline for weeks and saying that since breakouts usually happen on the 3rd or 5th attempts... That a failure (which we just had) to break above the upper trendline shown here or to ATH on this attempt, would likely lead to a deeper correction which we're starting to see. Plus our custom indicators have all rolled over to Red. Currently it's looking like $62k is next support block of buyers. Some are speculating that was the top, and whale sellers are front-running a recession. But comparing this year's chart looks a lot like prior Bitcoin bull-runs, just before the parabolic rise happens. Specifically like 2016, when there was months of stagnation near the old high.. Just before the big explosion in price. What do you think??
COINBASE:BTCUSDShort
by BrettFogle
1
#BTC/USDT Update, Breakdown or a Deviation?#Bitcoin is breaking down on the 4-hour chart, with daily support around $64,300. A break below daily support could potentially take BTC down to $60k. I believe this choppiness will persist for a while. It might be wiser to stay on the sidelines for now. Use strict stop losses in leveraged trades and hold onto your spot positions with diamond hands. Even if BTC dips yo the lower levels we will get some good deals in Altcoins. Let me know what you think in the comment section. Please hit the like button. Thank you #PEACE
by Cryptorphic
5
BITCOIN Crucial Breakout or Pullback Ahead?As I illustrated in the previous analysis, The price is currently forming a new parallel channel between the price range of $63,000 and $69,000. According to the volume and price chart, It is approaching an important resistance level at $68,000 once again. If it breaks this level upwards and sustains above it, We will witness a relatively good growth and it will hit our main target of $70,000. However, if it fails to maintain above this level, We will see a decline and a ranging market similar to last week. 📖💡 Feel free to express your perspective by commenting below. Thanks! 🐋
Long
by MadWhale
6