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Bitcoin Price Analysis: Explosive Move Ahead!?Weekly Chart: Yesterday, the weekly candle closed red, but indecisive, right on top of the support at $61,263, which is also the mid of the weekly range zone. The wide weekly range zone between $54,758 and $67,769, highlighted to CRYPTOLEAN community a few months ago, is characterised by a slow and choppy price action and I have consistency said that a dip to below $67,769 will lead to a boring range-bound move. This week should lead the bias from its current price location and Bitcoin can move in either direction from here. Based on the technical closure of the last week candle that made a higher high and has to confirm higher low, Bitcoin is able push back toward the key resistance at $67,769, where the price action will be very important. Daily Chart: Bitcoin is trying to reclaim the key daily zone around $61,671. A bullish candle closure above $61,671 or, even better, above the top of the zone around $61,671 (grey box) will confirm the lower low and push price towards $66,741, the key daily zone. A price recovery to above $66,741 will push price of BTC towards $69,466 and higher to $72,715. Below $61,671 zone, Bitcoin is bearish and sustained price action below this level results in a downward move towards $55,697. Intraday Chart: The intraday chart is moving agressively bullish and has already tested the key resistance zone around $63,349. A bullish break-out of $63,349 or a re-test of $62,358 followed by a bullish rejection will lead to price moving towards $65,684. A bearish break-out below $61,368 results in a dip towards $60,302 and lower to $59,031 zone, where the price action will be very important.
by Trade-Lean
BTC – Weekly Perspective – 12/05 to 19/05It seems to me that the correction theorized in previous analyzes is occurring. See the image below: Without further ado, let’s get to the graph. On a monthly basis, for the first time, the SETUP used is pointing to a corrective pivot. If so, a bear trap region is found at 51.8K, meaning if prices don't break out of this range, it won't fall much! The support points are: 53.5 and 51.8K at the moment. On a weekly basis, as I have been saying for a long time, we are within a corrective bearish pivot. Support point at 59.8K (which has worked so far) and 52.8K, with the loss of the 59.8K region. See the image below. As incredible as it may seem, the daily chart is completely repeating what SETUP points out on the weekly chart, corrections. 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 Crucial Intraday Chart: $60K Breakout Looming?Intraday Chart: The intraday chart will play a major role today. 1. A bearish break-out below $60,239 results in a dip towards $58,624 and lower to $56,698. 2. Re-claiming $61,742 is what we need today as it will decrease risk of downside in the daily and weekly charts and likely to lead to $63,245. 3. Similar to yesterday, a slow and choppy consolidation above $60,239 remains a possibility for today, even though I expect some volatility as a result of the weekly transition. Daily Chart: There is no change in the price action for Bitcoin since yesterday, as it continue to consolidate below the key support zone around $61,671. The weekly candle closure today below $61,263 is not ideal as it will increase odds for the downside move in the coming week(s) to re-test the zone around weekly support $54,759. Below $61,671, Bitcoin is technically bearish and sustained price action below this level results in a downward move towards $58,947 and, if broken to the downside, to $54,000-$55,000 zone.
by Trade-Lean
Don't Expect a Get-Rich-Quick Scheme with Spot Bitcoin ETFsDon't Expect a Get-Rich-Quick Scheme: Spot Bitcoin ETFs and Long-Term Strategy The recent approval of 11 spot Bitcoin ETFs by the SEC in January 2024 sent ripples of excitement through the cryptocurrency community. Many envisioned a meteoric rise in Bitcoin's price, fueled by a sudden influx of institutional capital. However, a month later, reality presents a more nuanced picture. This lack of immediate price explosion shouldn't disappoint long-term investors. While the short-term impact may be muted, spot Bitcoin ETFs represent a significant step forward for cryptocurrency adoption. Here's why the initial price bump might not be the most important indicator: Gradual Embrace by Institutions: Institutional investors are known for their cautious approach. While some might have dipped their toes into the market with the ETF launch, others will likely take a more measured approach. These investors will meticulously analyze the market and strategically allocate funds over time. This gradual adoption will likely lead to a steadier, more sustainable price increase in the long run. Regulation Breeds Trust: The SEC's approval signifies a growing level of comfort with Bitcoin from a regulatory standpoint. This newfound legitimacy fosters trust among institutional investors who were previously hesitant due to the perceived risk associated with the unregulated nature of the crypto market. Increased trust paves the way for long-term, reliable investment. Building the Infrastructure: Spot Bitcoin ETFs represent a critical step in building a robust infrastructure for Bitcoin trading. These investment vehicles offer a familiar and regulated framework for institutions accustomed to traditional markets. This improved infrastructure will attract a wider pool of investors over time, driving long-term price appreciation. These factors highlight the importance of looking beyond the short-term price fluctuations. Spot Bitcoin ETFs offer a secure, regulated entry point for institutional investors, fostering trust and laying the groundwork for sustained growth. Beyond the Hype: A Long-Term Play The crypto market is known for its volatility, and short-term price movements can be unpredictable. Focusing solely on immediate gains can lead to impulsive decisions and missed opportunities. Investors should instead focus on the long-term implications of spot Bitcoin ETFs. These instruments represent a crucial piece of the puzzle for mainstream adoption. They provide a gateway for institutional capital, leading to a more mature and robust cryptocurrency market. The true impact of these ETFs will likely unfold over a longer timeframe. As the infrastructure matures and institutional adoption broadens, we can expect to see a more stable and potentially significant price appreciation in the years to come. Spot Bitcoin ETFs represent a marathon, not a sprint, for investors seeking long-term value in the cryptocurrency market. Remember: Don't chase quick gains based solely on the launch of spot Bitcoin ETFs. This is a long-term play with the potential to reshape the future of the cryptocurrency landscape.
BITSTAMP:BTCUSD
by bryandowningqln
Bitcoin Intraday Shake-Up: Crucial Levels to Watch!Intraday Chart: The intraday chart could save Bitcoin as long as it is trading above $60,239. 1. A bearish break-out and a sustained price action below $60,239 results in dip towards $58,624 and, if broken to the downside, lower to $56,698. Re-claiming $61,742 will be ideal, as it will decrease risk of downside and likely to lead to $63,245. A slow and choppy consolidation in the tight range above $60,239 is also a possibility due to a thin weekend liquidity. Daily Chart: Yesterday, Bitcoin gave up all gains from Thursday and closed strongly bearish below $61,671, key support zone, and below 100MA. A sustained price action in this location is bad for BTC and it has to recover to above $61,671, as soon as possible. Below $61,671 is the bearish territory and a re-test of $61,671 today followed by a strong rejection will lead to a downward move towards $58,947 and, if broken to the downside, to $54,000-$55,000 zone. A price recovery to above $61,671 is needed today or tomorrow for BTC to move towards $63,245. Find more details in signature!
by Trade-Lean
Important Bitcoin UpdateBTC Update in Shorter Timeframe: BTC is currently facing resistance at FWB:65K in both shorter and higher timeframes. As mentioned earlier, BTC must close above FWB:65K in a daily timeframe to sustain the rally. In this 8-hour TF chart, we can observe the significance of this resistance. If BTC manages to break and close above FWB:65K , then $70k is likely, where another resistance awaits. A rejection, on the other hand, especially in the daily TF, would be damaging to BTC and the market. Keep an eye on the FWB:65K resistance and let's see how it unfolds. Do your own research before making any decisions. Trade safely. #Cryptocurency #BTC
by Dexter_The_Trader
#BTC/USDT#BTC Bitcoin price is moving in an upward trend over a 2-day frame The highest price of Bitcoin reached $72,000 and the lowest price could reach $58,000. The price moves between them, corresponding to the halving date set for 3 weeks from It is expected that all models will be broken upward after the halving to see new levels of highs. Until that time, you must maintain your stability in the market and look at the big picture with a modest initial target of $88,000.
Long
by CryptoAnalystSignal
2
#BTC/USDT Urgent Update!#BTC closed around $62,800, defying CT's expectations for a drop to $52,000. Now, we'll see if it can close above the blue moving average and confirm this whole move as a deviation, a pattern Bitcoin often follows. Otherwise, the doors to GETTEX:52K remain open, with this current move possibly being just a retest. So we wait, patience is key! Keep an eye on the weekly close! Have a wonderful weekend! #Crypto #Bitcoin Do share your views in the comments section and hit the like button if you like it. It keeps us motivated! Thank you #PEACE
by Cryptorphic
2
Bitcoin BTC price global view for next few monthsOn the #Bitcoin chart, you can see a combination of horizontal and dynamic fibo levels. It took us a long time to see something new.... But here's our summary: ️ ↪️ right now, the #BTCUSDT price is at a critical point. If buyers manage to keep the price above $57000-57300 until Monday, there will be a chance for a good price increase via the blue route 🟦 ↩️ fixing the CRYPTOCAP:BTC price below $57000 is the way for a sharp drop in the price to the $49-50k range. There are still many longers whose positions can be liquidated, and their assets can be taken into "stronger hands" Which scenario do you prefer: ❤️red or 💙blue? Because in our opinion, the #BTCUSD price should go into a protracted sideways consolidation for the summer of 2024. In this consolidation, the large capital that entered the cryptocurrency market through BTC ETFs may start flowing into less liquid altcoins, which could lead to local and selective bull runs. So, in our opinion, the most important task for the coming months is to track which altcoins or sectors of the crypto market capital is flowing into and buy on corrections. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
4