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#BTC/USDT#BTC Bitcoin price is moving in an upward trend on the 4-hour frame since the beginning of the month The price is strongly adhering to the trend line. Now we have a slight breakout downwards. We are waiting for a rebound from it upwards and a 4-hour close above the trend to confirm the rise and respect the trend We have so far stability above the 100 moving average, which supports the possibility of rising We have a retest of the broken downtrend on the RSI indicator Which gives a selling saturation and increases the chances of rising Current price 66320 The target of rising on two targets The first target is 68000 The second target is 69800 The model is canceled in the event of a 4-hour candle closing below 65000
Long
by CryptoAnalystSignal
Record Bitcoin Open Interest Suggest BreakoutBitcoin's open interest, a metric that measures the total number of outstanding derivative contracts, has recently hit a new all-time high. This significant surge has ignited speculation among market analysts and investors about a potential price breakout for the world's largest cryptocurrency. Open Interest: A Market Sentiment Indicator Open interest is often used as a proxy for market interest and liquidity in an asset. A rising open interest typically indicates growing investor participation and a potential increase in price volatility. Conversely, a declining open interest can signal waning interest and a potential price correction. In Bitcoin's case, the current record-breaking open interest suggests a heightened level of investor engagement. This heightened interest could be driven by a variety of factors, including anticipation of regulatory clarity, institutional adoption, and the halving event scheduled for 2024. Potential for a Price Breakout While a high open interest does not guarantee a price breakout, it certainly increases the likelihood of significant price movements. If the market sentiment remains bullish, the accumulated buying pressure could propel Bitcoin's price to new highs. However, it's essential to remember that open interest is just one factor to consider when analyzing market trends. Other indicators, such as technical analysis patterns, on-chain metrics, and macroeconomic conditions, should also be taken into account. Cautious Optimism While the recent surge in Bitcoin's open interest is undoubtedly bullish, investors should approach the market with caution. The cryptocurrency market is known for its volatility, and price fluctuations can be rapid and unpredictable. Additionally, it's crucial to diversify your investment portfolio and avoid putting all your eggs in one basket. Cryptocurrencies are still a relatively new asset class, and the regulatory landscape is constantly evolving. As the cryptocurrency market continues to mature, we will likely see more sophisticated investment strategies and risk management tools emerge. Until then, investors should stay informed and conduct thorough research before making any investment decisions. Ultimately, the future price of Bitcoin will depend on a combination of factors, including investor sentiment, market liquidity, regulatory developments, and technological advancements. While the current open interest data is certainly encouraging, it's essential to maintain a long-term perspective and avoid getting caught up in short-term price fluctuations. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Conducting thorough research or consulting with a financial advisor is strongly recommended before making investment decisions.
BITSTAMP:BTCUSDLong
by bryandowningqln
#BTC/USDT Update, $70k on radarAfter 139 days of consolidation, we're witnessing the fifth attempt to break the resistance. Patience is crucial; we need to wait for a confirmed breakout. In the meantime, we'll keep buying the dips for altcoins. **My Thoughts:** BTC is likely to break the $70k zone. The "sell the news" reaction following Trump's speech was quickly bought up. Bulls and institutions are loading up while retail investors remain cautious, waiting for another dip. This creates an ideal scenario for BTC to break to the upside. Let me know what you think in the comment section and please hit the like button. Thank you #PEACE
Long
by Cryptorphic
1
The similarity between BTC and Gold will shock youWelcome all I checked the GOLD chart after hitting new ATH recently and I found big similarities with BTC both assets formed : 1- Accumulation phase 2- Stoploss hunt phase 3- And finally, GOLD made the uptrend phase and printed new ATH historically BTC has followed GOLD several times before (why not? it's the digital GOLD) if we followed the pattern of GOLD then BTC now should be on its way for achieving new ATH! DO U AGREE? If you enjoyed our style in trading and analysis, support our ideas by likes and comments
Long
by Babenski
25
#BTC/USDT#BTC Bitcoin price has been moving in an upward trend on the four-hour frame since the beginning of July The price has now touched the rising trend and produced a reversal candle on a 4-hour frame It is expected to retest the level that the price reached two days ago Our target is at 68186 This is supported by the bearish saturation of the RSI aperture The rise also supports stability above the Moving Average 100 And stability is above the current trend The pattern is canceled if it closes 4 hours below the upward trend in orange
Long
by CryptoAnalystSignal
BTC Bitcoin Technical Analysis and Trade Idea👉🔍We can observe that Bitcoin (BTC) has been in a bullish trend recently and has retraced to a key support level. In the video, we discuss market structure, price action, and the trend. I'm expecting to see a potential reaction and an opportunity to go long if the price action unfolds as described in the video. As always, this is for educational purposes only and should not be considered financial advice. 📊✅
FOREXCOM:BTCUSDLong
by fxtraderanthony
BITCOIN Potential SkyrocketIn the monthly time frame, Bitcoin looks bullish. The price of BTC is consolidating between the resistance zone (Blue) at $71,225.18 - $73,849.29 and the support zone (Green) at $58,694.30 - $60,594.35 for the last 5 months. If you look at the chart, the price of BTC did not close under the support zone (Green) not a single time. On the chart, a bull flag pattern is forming. This pattern is a continuation that typically indicates a bullish trend. The pattern is characterized by a steep price increase (flagpole) followed by a declining-trending consolidation phase (flag). According to the chart, Bitcoin had a strong upward movement that resulted in the formation of the flagpole. After that, it entered a consolidation phase, where many monthly candles moved horizontally and then slightly downward to form the flag. If BTC breaks out above the resistance zone (Blue), it could lead to a significant upward movement, continuing its previous uptrend. This is supported by the red arrow projecting upwards on the chart, indicating the potential for a breakout. A successful breakout would likely be accompanied by increased trading volume, reinforcing the bullish trend. However, a bearish scenario is also possible. If BTC fails to break out of the consolidation phase and drops below the support zone (Green), the bull flag pattern could be invalidated. This could lead to further downward movement, testing lower support levels. If the bull flag pattern is completed, the chart indicates a bullish view for Bitcoin, with the possibility of a breakout above the resistance zone (Blue). To confirm a breakout, traders should keep a close eye on the price activity near the resistance zone (Blue) and watch for higher volume.
Long
by TheCryptoCity