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Just how bad is it for Bitcoin and the crypto market? - Bitcoin has experienced a significant drop below $60,000 for the first time in a while. - April has historically been a green month for Bitcoin in an election year, but this year it was red, showing a deviation from history. - May is also historically a green month for Bitcoin in election years. - Bitcoin has never played out more than two consecutive downside months in an overall bull market. - The accumulation distribution indicator shows a positive slope, indicating a long-term move to the upside. - The indicator's slope changes in the extreme zones can correlate with macro shifts in direction. - Bitcoin is currently testing prior all-time highs and there should be an opportunity for it to move up again. - The ideal scenario for bullish investors would be for Bitcoin to come down to the red moving average, find a low, and close the month up with a bullish signal. Bitcoin has experienced its first ever red April in an election year, deviating from historical trends. April saw a 15% move to the downside, which is significant. May historically has always printed a green month for Bitcoin in election years, but this may not be the case this year. Additionally, Bitcoin has never played out more than two consecutive downside months in a bull market. The accumulation distribution indicator shows that Bitcoin is likely to move to the upside long term. However, it is uncertain how far down Bitcoin can go before it bounces back up. The red moving average is where Bitcoin bulls should be hoping for a low to be put in before closing the month up, which would signal the market to continue to new all-time highs throughout the rest of the year. Bullet Summary: - Bitcoin experienced its first ever red April in an election year, deviating from historical trends - May has always historically printed a green month for Bitcoin in election years, but this may not be the case this year - Bitcoin has never played out more than two consecutive downside months in a bull market - The accumulation distribution indicator shows long term upside for Bitcoin, but it is uncertain how far down it can go before bouncing back up - Bulls should be hoping for a low near the red moving average before closing the month up to signal continued growth throughout the year.
by Henrywaters
BTCUSD after halvingHi, welcome to my analysis, Sorry it's been a while since I wrote an analysis due to the Eid al-Fitr holiday. this time BTC dropped and formed a down channel, but we have a Fibonacci support area between 63546 to 62608 and if this Fibonacci support is broken, then the following support will be at level 60211. The bullish target for BTC this time is in the range 70217 to 71625 or Fibonacci level 1,618 to channel resistance. I will update this analysis if I find new keylevels. Happy trading
BINANCE:BTCUSDLong
by AzrulAzir
IS BTC READY FOR NEW INCREASE TO 68KBitcoin seems the last day in a broken downtrend with here and there what stability. There are some important levels if BTC can hold them, we could see a new uptrend weekend, which weekends are known most of the time on their stability volume. The trend of now. BTC trying to find the right way to get out to new building volume, out of the playing trend. Can this weekend have a new change since we are by the key level that's exactly what we will follow if BTC can break the key level l of 65K with a high chance of 68K There is always a chance there will be manipulation volumes, it depends on building volume and that's hard to count. small changes can always be targeted, its BTC. For day traders, there change noting, since day traders trade depending on what the market shows, this can be short or long at any time. This is not trading advice, markets going on their way.
Long
by SatochiTrader
1
[SHORT] Bitcoin going down before it goes up As you can see on the USDT dominance chart using the pmarp indicator on the weekly time frame USDT dominance is on its way up. This is a great sign of capitulation within Bitcoin. There are is now many millions of dollars worth of outflows for Bitcoin ETFs. The IBIT ETF has not received any new inflows for two business days and other ETFs for Bitcoin have received outflows of millions. It's about time for this correction to play out.
CRYPTOCAP:USDT.DShort
by Henrywaters
DIPS ARE FOR BUYING ! Don't get SCAREDBitcoin (BTC) has been trading within a horizontal accumulation pattern on the 4-hour timeframe. This pattern is characterized by a period of price consolidation within a defined range, with multiple attempts to break out to the upside or downside but ultimately failing and returning within the range. This price action often indicates that there is significant liquidity built up on both sides of the range, waiting for a catalyst to break the pattern. Significant Liquidity Above and Below the Range: BTC has formed significant liquidity levels above and below the horizontal accumulation range. These liquidity levels represent areas where a large number of buy or sell orders are clustered. The supply of these orders at specific price points can act as support or resistance, influencing price movements. Large Imbalance Below the Range: On the 4-hour timeframe, BTC also exhibits a significant imbalance between $51,000 and $59,000. This imbalance suggests that there is a larger amount of sell orders than buy orders within this range. Imbalances can sometimes act as magnets, pulling the price towards them to fill the excess orders. Potential Breakout Scenario: Based on the horizontal accumulation pattern, liquidity levels, and imbalance, I anticipate a potential bullish breakout for BTC. Two possible scenarios could play out: 1. Retest of 0.5 Fibonacci Retracement: The price could retest the 0.5 Fibonacci retracement level of the imbalance, around $55,000. This retest could serve to shake out weak hands and further accumulate liquidity before a breakout. 2. Sweep of $59,000 Level and Breakout: In a more bullish scenario, the price could sweep through the $59,000 liquidity level, indicating strong buying pressure and potentially leading to a breakout towards $77,000, the next major resistance level. Overall Outlook: BTC's price action suggests a potential breakout from the horizontal accumulation pattern. The presence of significant liquidity levels and an imbalance below the range further supports this possibility. While a retest of the 0.5 Fibonacci retracement level is possible, an ideal scenario would be a sweep of the $59,000 level and a continuation of the uptrend towards $77,000.
Long
by Yaroslav_Krasko
2
BITCOIN USDBitcoin has been ranging between 60,000$ and 72,000$ for a month, in "Long" position (From now until the next three months) In the first scenario, if the $60,000 resistance is broken, it will fall to at least $40,000 to $44,000. In the second scenario, if the $73,000 support line is crossed, it will rise to at least $95,000 to $100,000. Currently, the best price to enter is $60,000 to $63,500 and in case of breaking the resistance line, the best price to enter is $40,000 to $44,000
BITSTAMP:BTCUSD
by WOLF_OK
2
Bitcoin on the Brink: Bollinger Bands Hint at Potential Price BrBitcoin, the world's most popular cryptocurrency, has been exhibiting some intriguing technical signals lately. The cryptocurrency's volatility indicator, the Bollinger Bands, has narrowed significantly, reaching levels last seen in mid-February 2024. This development has sparked speculation among analysts about a potential price breakout for Bitcoin (BTC) in the near future. Bollinger Bands Explained: The Bollinger Bands is a technical analysis tool that measures price volatility. It consists of three lines: a simple moving average (SMA) in the center, and an upper and lower band plotted at a specific standard deviation distance above and below the SMA, respectively. The wider the bands, the higher the volatility; conversely, narrower bands suggest a period of compressed price movement. What Does the Narrowing of Bands Indicate? When the Bollinger Bands contract, it typically signifies a period of low volatility or consolidation. This can be interpreted in two ways. One possibility is that a breakout is imminent, with the price poised for a significant move in either direction – up or down. The other possibility is that the current price range may hold for a while longer, with continued consolidation. The Mid-February Precedent: The current narrowing of the Bollinger Bands is particularly interesting because it mirrors the situation observed in mid-February 2024. Back then, the bands contracted to a similar degree, and it was subsequently followed by a price surge that saw Bitcoin climb above $50,000. This has led some analysts to believe that history might repeat itself, with another price breakout on the horizon. Is a Breakout Guaranteed? However, it's crucial to remember that technical indicators, like Bollinger Bands, are not crystal balls. While they can provide valuable insights into potential price movements, they don't guarantee future outcomes. Several factors beyond technical analysis can influence the price of Bitcoin, including: • Market sentiment: Overall investor confidence towards cryptocurrencies can significantly impact Bitcoin's price. Positive sentiment can fuel a breakout, while negative sentiment could lead to a downward price movement. • Regulatory landscape: Government regulations and policies aimed at cryptocurrencies can create uncertainty and impact investor decisions. • Major news events: Significant global events, such as economic downturns or geopolitical tensions, can influence the price of Bitcoin as investors seek alternative assets. What to Watch Out For: Given the inherent uncertainty, investors should closely monitor these additional factors to gauge the direction of a potential breakout. If positive market sentiment coincides with the Bollinger Band breakout, we could see a significant surge in Bitcoin's price. Conversely, if negative sentiment prevails, the breakout might be short-lived, or it could even lead to a price correction. Conclusion: The narrowing of the Bollinger Bands is a noteworthy development for Bitcoin, suggesting a potential breakout on the horizon. However, investors should exercise caution and consider broader market factors before making any investment decisions. By combining technical analysis with a well-rounded understanding of the cryptocurrency landscape, investors can position themselves to potentially capitalize on Bitcoin's next price move.
CME:BTC1!Long
by bryandowningqln
Bitcoin Rebound as War Fears Subside, Bullish Technicals EnsueBitcoin, the world's leading cryptocurrency, has embarked on a significant rally in recent weeks, defying predictions of a prolonged slump triggered by the Russia-Ukraine conflict. As war fears recede, investors appear to be regaining confidence in the digital asset, propelling its price upwards. Several factors are contributing to Bitcoin's resurgence: • Waning War Threat: The initial market panic triggered by the outbreak of the war has subsided somewhat. While the conflict remains a concern, hopes for a potential diplomatic resolution have bolstered investor sentiment. This has led to a broader risk-on environment, benefiting Bitcoin alongside other asset classes. • Technical Breakout: From a technical analysis perspective, Bitcoin appears to be breaking out of a bullish continuation pattern known as a bull flag. This pattern typically indicates a period of consolidation following a strong price increase, followed by another leg up. The recent price action suggests a potential breakout from this pattern, which could fuel further gains. • New Support Level: The recent price dip found support around $66,000, establishing a potentially new floor for Bitcoin. This level of support indicates increased buying pressure at that price point, which could prevent further significant declines. • Limited Downside Risk: Analysts point out that compared to its all-time high of over $69,000, Bitcoin's current price represents a relatively limited downside risk. This, coupled with the potential for further upside based on technical indicators, makes Bitcoin an attractive proposition for some investors. Is the Rally Sustainable? While the current momentum is positive, questions remain about the sustainability of Bitcoin's rally: • Macroeconomic Uncertainty: The broader macroeconomic environment remains uncertain. Rising inflation and potential interest rate hikes by the US Federal Reserve could dampen investor enthusiasm for riskier assets like Bitcoin. • Regulatory Scrutiny: Regulatory scrutiny surrounding cryptocurrencies continues to be a concern. Increased government oversight could potentially stifle innovation and adoption, impacting Bitcoin's long-term prospects. • Volatility Remains: The cryptocurrency market is inherently volatile. Despite the recent rally, Bitcoin's price could experience significant fluctuations in the future. Investors should be prepared for this volatility and maintain a risk-tolerant investment strategy. Looking Ahead The future trajectory of Bitcoin remains to be seen. While the recent breakout from the bull flag pattern suggests potential for further gains, several factors could impact its price movement. Investors should closely monitor geopolitical developments, macroeconomic data releases, and regulatory pronouncements related to cryptocurrencies. Despite the uncertainties, Bitcoin's recent rally demonstrates its potential as a volatile yet potentially high-reward asset class. As the cryptocurrency market matures and gains wider acceptance, Bitcoin's long-term prospects remain intriguing. However, careful consideration of the associated risks is essential before investing in this volatile digital asset.
BITSTAMP:BTCUSDLong
by bryandowningqln
Bitcoin Ready to $52000 Bitcoin recently reached an all-time high of $73,777 before dropping to a low of $59,050. It's currently hovering around $66,350, which is close to its mid-range of $66,400. The breaker point in the market is estimated to be between $69,000 and $70,000, which aligns with the Bull Rune's all-time high of around $69,000. The current market conditions are showing a higher low, which typically indicates a bearish trend. Taking all of this, the next significant point in the market is projected to be around $52,000. Did you find this crypto market analysis helpful? Stay updated about the latest crypto market update. Please continue to follow my analysis and feel free to ask any queries, you may have. I am here to assist you. TradingView: @frmnCapital
Short
by frmnCapital
3