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Two divergences at the same time in #BTCUSD chart#bitcoin has been proceeding in ascending channel. 2 divergences occured while #btc moves in LTF: 1- Hidden bullish RSI divergence (Green) 2- Regular bearish RSI divergence (Red) Hidden divergence has been playing out after the bounce from ichimoku cloud and continuation is expected till the price reaches 69K or may be even 71K. Also there're great liquidations in these levels. If CRYPTOCAP:BTC claims 69 - 71K and liquidate shorts, then it's likely to be expected that bearish divergence may take the play with minor correction wave or even a dump. If price breakouts above 74K, bearish divergence will be postponed or invalidated, but ascending channel pattern will be secretly on the play. NOT FINANCIAL ADVICE. DYOR.
by naphyse
BTC – Weekly Perspective – 05/19 to 05/26Does BTC really intend to break the previously theorized C&H corrective pattern? The downtrend line outlined in previous analyzes were being respected. However, I noticed that in recent days prices managed to escape this limbo. Interesting, isn't it? If the downtrend line breakout is true, a likely destination for prices would be the 85K region, an “upside” of more than 25% if we compare it to the cryptocurrency’s current price (66.7K). But for this to happen, prices must first overcome and remain above 68.5K. Now, if prices do not remain above this level (68.5K), I, personally, will consider this attempt to take power by the bulls as a beautiful buying “trap”. Therefore, whoever enters above this price range (68.5K) must have a well-adjusted STOP LOSS. Let's go to the graph In the long-term bias, the SETUP used still indicates fatigue on the part of prices, therefore, it remains inclined to want to reverse the predominant upward trend, a clear sign of a struggle between buyers and sellers. See the image below. Prices must necessarily stay above 66.5K on the monthly chart, if they want to maintain their strong upward trend and discard once and for all the pattern that I have been theorizing for some time (C&H). The red lines are support points. On the weekly chart, we already have a divergence, as prices are trying to leave the LTB’s traced for good. From the SETUP used, it appears that long-term buyers (those who entered in January) are making purchases, and this demonstrates why prices are not strong enough to break the 68.5K region (resistance), as these buyers They are maintaining defenses, trying to attract new entrants! See the image below. The red lines are resistance points. Coming to the short term, once again SETUP points out that long-term buyers (January 2024) are maintaining prices to attract new entrants and, thus, reach new records (85K). We even had an upward pivot during this time, which managed to reach the “golden” region, as shown in the image below. The red lines are resistance points. Do your analysis and good business. Be aware, if you buy, use stop loss. See other graphical analyzes below.
INDEX:BTCUSD
by MacD_Bollinger
Bitcoin’s Promising Outlook this week BTCUSDThe past week has been highly optimistic for cryptocurrencies after a prolonged period of uncertainty. Despite the high Producer Price Index (PPI) data, April’s low inflation report in the United States has given risk markets a much-needed boost. The fear of additional interest rate hikes by the Federal Reserve has subsided, allowing markets to breathe easier. Until the next Fed meeting on June 12, all eyes will be on employment and other economic indicators.
BINANCE:BTCUSDLong
by ShumbaFx07
Spot Bitcoin ETFs Rebound with $1.3B Inflows in May |BTC LONG...Bitcoin price fluctuations have directed significant attention from investors towards meme coins. The primary reason for this shift is the higher volatility exhibited by meme coins, attracting many new participants into the market through notable success stories. This pattern frequently leads to speculative price movements when Bitcoin prices surge. So, what’s the current status of prominent meme coins aside from Dogecoin? COINBASE:BTCUSD
BINANCE:BTCUSDLong
by ShumbaFx07
8
Bitcoin BTC: Eyes on Key Daily and Intraday Resistance Zones!Daily Chart: Bitcoin is re-testing the pivotal resistance zone around $66,741 and striving for upward momentum. A daily closure above this zone could ignite a bullish advance towards the $69,466 resistance. Escalating past $69,466 is likely to result in the new ATH above $72,715. A rejection of $66,741 could signal a bearish momentum, exposing the $61,671 level as the next significant support, however first Bitcoin will have to overcome $64,206. Intraday Chart: Bitcoin is re-testing the crucial intraday resistance $65,684-$66,589 and has to sustain price action in this zone for a continuation of the uptrend. 1. A breach above $66,589 could set the stage for a rally towards $67,740-$68,731. 2. Conversely, slipping below $65,684 may trigger a descent to $63,349 where we are likely to see a bullish reversal that will offer a buy opportunity towards $67,740 and higher to $71,067.
BYBIT:BTCUSD.P
by Trade-Lean
Bitcoin Bounces Back: Eyes on $74,000 After May 16 Surge Bitcoin (BTC) surprised many on May 16th with a sudden surge that brought its price close to $66,000. This bullish move followed a period of consolidation and came amidst a broader risk-asset rally triggered by positive economic data from the United States. While some analysts remain cautious, others see this jump as a potential springboard for further gains, with some even predicting a push towards $74,000. Positive Macro Data Fuels Risk-On Sentiment The key factor behind Bitcoin's recent price increase seems to be a shift in investor sentiment. The release of positive economic data from the U.S., indicating continued economic growth, sparked a risk-on environment across the markets. This meant investors were more willing to invest in riskier assets like Bitcoin, leading to the sudden price jump. Bitcoin Price Analysis: A Bullish Case Technical analysts are now scrutinizing the recent Bitcoin price action. The successful break above the $62,000 resistance level is a bullish signal, suggesting a potential continuation of the uptrend. Additionally, some analysts point to the fact that Bitcoin is currently trading above its 50-day and 200-day moving averages, further bolstering the bullish case. This positive sentiment is echoed by some prominent figures in the cryptocurrency space. Predictions are circulating that Bitcoin could reach $74,000 in the near future, with some even suggesting a potential price discovery phase beyond that. Doubts and Uncertainties Remain Despite the current optimism, some analysts remain cautious. The swiftness of the recent price increase has raised concerns about a potential correction. A pullback could occur if investors decide to take profits or if there's a sudden shift in market sentiment. Furthermore, the broader economic climate remains uncertain. Rising inflation and potential interest rate hikes by the Federal Reserve could dampen investor enthusiasm for riskier assets like Bitcoin. Focus on Key Resistance Levels The coming days will be crucial for Bitcoin's price trajectory. If BTC can hold onto its gains above $62,000, it could pave the way for a test of the $68,000 resistance level. A decisive break above this level would significantly strengthen the bullish case and increase the possibility of reaching the much-anticipated $74,000 target. Long-Term Outlook: Still Bullish? While the short-term outlook for Bitcoin is uncertain, many analysts remain optimistic about the long-term prospects. The upcoming Bitcoin halving event in 2024, which will significantly reduce the number of new Bitcoins entering circulation, is expected to put upward pressure on the price in the long run. Furthermore, the increasing institutional adoption of Bitcoin continues to be a positive sign for its future. As more major financial institutions embrace Bitcoin, it could lead to increased demand and price appreciation. Conclusion: A Balancing Act for Bitcoin Bitcoin's recent surge is a positive development, but it's important to acknowledge the remaining uncertainties. The price will likely continue to be influenced by a combination of factors, including macroeconomic data, investor sentiment, and technical indicators. While some analysts predict a price discovery phase beyond $74,000, others remain cautious about the possibility of a correction. Close attention should be paid to how Bitcoin behaves in the coming days, particularly its ability to hold onto its gains and potentially overcome the key resistance levels. Ultimately, whether Bitcoin can maintain its upward momentum and reach new highs will depend on how these various factors play out in the near future. Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.
BITSTAMP:BTCUSDLong
by bryandowningqln
BTC Bitcoin Technical Analysis and Trade IdeaBitcoin is currently in a downtrend, which we can observe on the daily time frame. It has been forming a pattern of lower lows and lower highs. However, there’s an interesting development when we zoom in to the 30-minute time frame. On the daily chart, BTC retraced and moved away from an optimal entry point. But on the 30-minute chart, using the same strategy, we see a potential sell opportunity if price action aligns with what’s described in the video. In the video, we cover essential aspects of technical analysis, including trend analysis, price action, and market structure. Remember that trading involves risks, so always manage your risk carefully. This information is for educational purposes only and should not be considered financial advice. 📈👍
FOREXCOM:BTCUSDShort
by fxtraderanthony
ETH/BTC Ratio Slumps 30% as Bitcoin Flexes Market MuscleThe Ethereum (ETH) to Bitcoin (BTC) ratio has been on a downward spiral, recently dipping to 0.046 – a level last witnessed in April 2021 and briefly revisited in April 2024. This significant decline underscores Ethereum's current challenges in maintaining its position against Bitcoin's ever-growing dominance within the cryptocurrency market. Over the past year, the ETHBTC pair has shed an unsettling 30% of its value. Year-to-date losses are also concerning, exceeding 11%. These figures paint a worrying picture for Ethereum, raising questions about its future trajectory and potential to dethrone Bitcoin as the leading cryptocurrency. Several factors are likely contributing to this trend: • Bitcoin's Narrative Strength: Bitcoin continues to hold a strong narrative as "digital gold," a scarce, hedge-like asset favored by institutional investors seeking a store of value. This perception fuels its price stability and market dominance, particularly during periods of economic uncertainty. • Ethereum's Inflationary Concerns: Unlike Bitcoin's capped supply, Ethereum's issuance is not limited. This "inflationary" model has caused anxieties among some investors, who worry about potential price dilution in the long run. • The Ethereum Merge Looms: The highly anticipated Ethereum merge, transitioning from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism, is still under development. Delays and uncertainties surrounding the merge's impact on Ethereum's scalability and efficiency might be keeping some investors on the sidelines. • Regulatory Landscape: Regulatory scrutiny surrounding the cryptocurrency market remains a concern. While clarity on regulations could benefit the entire industry in the long run, the current uncertainty might be discouraging some investors from entering the Ethereum market. • Alternative Layer 1 Blockchains: The emergence of alternative Layer 1 blockchains like Solana and Cardano offering faster transaction speeds and lower fees could be siphoning off some investor interest away from Ethereum. Is This the End for Ethereum? The current situation doesn't necessarily signal the end of Ethereum. It's crucial to remember that the cryptocurrency market is still young and highly volatile. Here are some reasons for optimism regarding Ethereum's future: • The Potential of DeFi: Ethereum remains the dominant platform for Decentralized Finance (DeFi) applications, a rapidly growing sector with immense potential to disrupt traditional financial services. Continued DeFi adoption could significantly boost Ethereum's utility and value. • The Merge's Promise: A successful merge to PoS could address scalability concerns and enhance Ethereum's environmental sustainability, potentially attracting more environmentally conscious investors. • Developer Ecosystem Strength: Ethereum boasts a robust and active developer ecosystem constantly innovating and building dApps (decentralized applications) on the platform. This strong developer base is a crucial asset for Ethereum's long-term growth. Looking Ahead: A Shifting Landscape The cryptocurrency market is constantly evolving, and the relationship between Bitcoin and Ethereum is likely to remain dynamic. While Bitcoin may retain its "digital gold" status for the foreseeable future, Ethereum's success will hinge on its ability to address scalability issues, deliver on the promises of the merge, and maintain its dominance in the DeFi space. Investors should carefully consider their risk tolerance and investment goals before making any decisions. Both Bitcoin and Ethereum represent high-risk, high-reward investment opportunities. A diversified portfolio across established and emerging cryptocurrencies might be a prudent approach for navigating the ever-changing digital asset landscape.
Short
by bryandowningqln
BTC Bitcoin Technical Analysis and Trade IdeaRecently, BTC has experienced downward pressure. A bearish pattern is evident on the 4-hour chart. At present, it has traded into a key support zone and there’s a strong possibility we see it pullback into a resistance zone. The video discusses the prevailing trend, recent price movements, overall market structure, and presents several trading ideas for your consideration. Please remember, the content provided is solely for educational purposes and should not be taken as investment advice. Trading involves significant risk, highlighting the importance of consistently applying strong risk management strategies.
FOREXCOM:BTCUSD
by fxtraderanthony
3
Potential Bitcoin Long on Weekly Stochastic RSI CrossoverBitcoin, the world's leading cryptocurrency, has experienced a volatile period in recent months. However, a technical indicator on the weekly timeframe is sparking potential buying opportunities for long-term investors. This indicator is the Stochastic RSI, and a recent or upcoming bullish crossover could signal a reversal in the downtrend. Understanding the Stochastic RSI The Stochastic RSI (Stochastic Relative Strength Index) is a technical momentum indicator that oscillates between 0 and 100. It measures the closing price of an asset relative to its price range over a specific period. In simpler terms, it indicates whether the asset is currently trading near the highs or lows of its recent price range. The Stochastic RSI consists of two lines: %K and %D. The %K line is the faster-moving average of the RSI, while the %D line is a slower-moving average of %K. A bullish crossover occurs when the %K line crosses above the %D line, suggesting a potential reversal from oversold conditions and a possible upswing in price. Why a Weekly Stochastic RSI Crossover Matters The weekly timeframe provides a broader perspective on price movements compared to daily or hourly charts. A bullish crossover on the weekly Stochastic RSI suggests a shift in momentum that could hold more weight than on shorter timeframes. This crossover can indicate that oversold conditions have been exhausted, and buyers are starting to take control. Current Bitcoin Situation and the Stochastic RSI By analyzing historical charts, we can see that the weekly Stochastic RSI for Bitcoin has fluctuated between oversold and overbought territories throughout its history. In previous instances, bullish crossovers on the weekly timeframe often coincided with periods of price accumulation and subsequent price increases. Is a Bullish Crossover Imminent? While it's impossible to predict the future with certainty, a potential bullish crossover on the weekly Stochastic RSI for Bitcoin is an interesting development to watch. If the crossover materializes and is accompanied by other positive indicators, it could signal a buying opportunity for long-term investors. Important Considerations Before Going Long on Bitcoin • Market Volatility: The cryptocurrency market remains highly volatile. Even with a bullish technical indicator, there's no guarantee of a sustained price increase. • Fundamental Analysis: Don't rely solely on technical indicators. Consider fundamental factors like regulations, adoption rates, and overall market sentiment when making investment decisions. • Risk Management: Always implement proper risk management strategies, such as stop-loss orders, to limit potential losses. Bitcoin is a high-risk investment, and investors should only allocate a portion of their portfolio that they can afford to lose. Conclusion A potential bullish crossover on the weekly Stochastic RSI for Bitcoin presents a glimmer of hope for long-term investors. However, it's crucial to remember that technical indicators are just one piece of the puzzle. A comprehensive investment strategy should also consider fundamental analysis and proper risk management. While the future remains uncertain, this technical development is worth keeping an eye on as Bitcoin continues to navigate a volatile market.
BITSTAMP:BTCUSDLong
by bryandowningqln