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Btcusdlong

"Bitcoin's 67% Value Surge Despite Regulatory Challenges"Even amidst regulatory crackdowns on cryptocurrency exchanges over the past year, Bitcoin has exhibited consistent growth throughout much of 2023, currently hovering around $43,610 - an increase of nearly $18,000 in value since September. Reaching its peak at around $68,000 in November 2021, Bitcoin faced a significant setback by November 2022, losing over 75% of that value following the collapse of FTX, a major crypto exchange at the time. Yet, it seems poised for a resurgence once again. This resilience underscores Bitcoin's ability to weather regulatory challenges and market upheavals, emphasizing its enduring appeal and potential for recovery amidst a rapidly evolving financial landscape.
BITSTAMP:BTCUSD
by AdmamTrade
BTC/USD Analysis Bitcoin surged past the $44,700 resistance on January 2, yet this breakthrough turned out to be a price trap as it plunged on January 3. Buyers stepped in as prices dipped to the 50-day simple moving average ($40,938), showcasing robust bullish defense around the $40,000 mark. The exponential 20-day moving average traded sideways at ($42,855), while the Relative Strength Index (RSI) hovered around neutral, indicating restrained price action ahead. The range boundaries could be $40,000 and $45,879. A significant drop below the $40,000 support would signal short-term bullish capitulation. This scenario might drive the BTC/USDT pair towards the next major support at $37,980. Buyers regain control upon pushing the price beyond $45,879. Subsequently, the pair could rally towards $50,000. The recent price movement indicates a delicate balance between bulls and bears, with $40,000 as a critical level to watch. Breaking below could see further downside, while surging past $45,879 could reignite bullish momentum towards the $50,000 mark.
BITSTAMP:BTCUSD
by AdmamTrade
8
Bitcoin Price Analysis Bitcoin surged above the $44,700 resistance on January 2, but this breakthrough turned out to be a price trap as it sharply declined on January 3. Buyers stepped in as prices dipped to the 50-day simple moving average ($40,938), indicating strong bullish defense around the $40,000 mark. The exponential 20-day moving average traded sideways ($42,855), and the Relative Strength Index (RSI) near neutral suggested restrained price action ahead, within a potential range between $40,000 and $45,879. A sharp drop below the $40,000 support might signal short-term bearish surrender, possibly pushing the BTC/USDT pair towards the next major support at $37,980. Buyers could regain control by pushing the price above $45,879. Subsequently, the pair could aim for $50,000. The recent price fluctuations indicate a tug-of-war between buyers and sellers, emphasizing critical support and resistance levels that will dictate the next market move. Breaking through resistance or succumbing to lower support thresholds will be pivotal in determining short-term market sentiment.
BITSTAMP:BTCUSD
by Larissa-Trader
Bitcoin → Broke Weekly Resistance! On to $46,000!? Let's Answer.Bitcoin has broken Weekly Resistance at $38,000 and raced to the top of the bull channel around $42,500. Now that the move seems to have played out, what is the next trade? How do we trade this? 🤔 If you're not already in a long, Do Not Enter the market. We're too close to the bull channel resistance, we haven't tested the previous Weekly Resistance as Support, RSI is over 76.00 and far above the Moving Average. We should remain bullish given the macro trend and that the top of the 2021 Trading Range at $46,000 is at the proposed Measured Move target. Best to wait for a pullback and find support again, likely around $40,000 at Bull Channel support. A bull signal bar and confirmation candle will give us the necessary probability to enter a 1:2 Risk/Reward Ratio Long. 💡 Trade Idea 💡 Long Entry: $40,700 🟥 Stop Loss: $38,500 ✅ Take Profit: $45,100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout from Previous High Support! 2. Bull Channel, Bias to Long. 3. Weekly Resistance Broken! Possible Measured Move Up. 4. $46,000 Measured Move Lines Up With Lifetime Resistance. 5. RSI over 76.00, Bias to Short for the short-term. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:BTCUSDLong
by TraderEngineering
2
Bitcoin Surpasses $45,000 Mark Amidst Altcoin MilestoneBitcoin surged over 6% in the first week of the new year, hitting $45,000 in 2024. This milestone holds significance for altcoins as it marks their highest level in 21 months. The last time BTC reached this level was in April 2022, during a bearish market peak that halted its ascent at $18,200. Despite the recovery, Bitcoin hasn't breached the $45,259 resistance. This level played a pivotal role as support and resistance in February, March, and April 2022 and continues to act as a barrier. Although BTC briefly surpassed it during trading hours, it retracted and closed below. The Relative Strength Index (RSI) remains significantly higher than the neutral line in the bullish zone, indicating cryptocurrency's continued momentum. This aligns with the anticipated approval of BTC ETF funds expected to launch in the coming week, likely acting as a catalyst.
BITSTAMP:BTCUSD
by AdmamTrade
Bitcoin's Surge and Jim Cramer's Impact on Market Sentiment Bitcoin (BTC) is on an upward trend, surpassing the weekly supply zone midpoint, signaling a possible continuation. However, recent remarks by CNBC's Jim Cramer added confusion. The market anticipates SEC approval, hinted by a Reuters report between January 2nd and 3rd. This, coupled with FOMO and speculative trading, boosted BTC by 7% on January 7th, breaking the $43,860 USD mark. The breach signifies a potential sustained uptrend, with resistance levels between $40,387 USD and $46,999 USD. The surge led to the liquidation of bearish positions worth $44.43 million USD, challenging the bearish outlook against the growing bullish sentiment.
BITSTAMP:BTCUSD
by Larissa-Trader
1
Bitcoin's key breakout levels and what's next! Jan 2nd 2024 Bitcoin just broke the key resistance level of the mid 44k's establishing a new high of 21 month since April 2022. The red circles on the chart indicate key breakout levels. 1) June 2023 the price rose above 26,800 with a daily candle close. 2) October 2023 the price rose above 31,400 with a daily candle close. 3) Jan 2024 the price rose above 44,700 with a daily candle close. The levels are key due to multiple tests to break above which failed every time, indicating price resistance. Once a resistance level is passed, the market searches for a new resistance. Next key technical levels to pass are - 45,800 50,800 54,400 The levels are based on horizontal support/resistance levels stretching back close to 2 years. Long-term connecting highs and lows show higher highs and higher lows since Jan 2023, With Bitcoin rising about 250% in the year passed. RSI shows the price action far from overbought and MACD shows convergence and momentum shift to upside that's fresh - Both indicators show clear "buy" signals as well as the technical breakout above 44,700. Speculations are that multiple BTC ETF's will be approved by SEC today. --------------------------------------------------------------------------------------------------- Do your own research! Trade with caution especially when trading leveraged products! This is not advice. This is pure market speculation. Thank you and happy new year everybody :)
BITSTAMP:BTCUSD
by Exactus
1
"Bitcoin Holds Strong Above $42,000 in 2024"As of now, Bitcoin trades at $42,376 on Binance, maintaining its position above $42,000 into 2024 despite signals of price dips in on-chain data. Recent data shows profit-taking by BTC traders from October to December 31, alongside a surge in BTC supply on exchanges by year-end. Despite mounting selling pressures, Bitcoin remains steady above $42,000 as of January 1. Anticipation around BTC ETF approval near the January 10 deadline continues, with Bitcoin providing consistent monthly gains of nearly 10% for holders amidst various market indicators.
BITSTAMP:BTCUSD
by AdmamTrade
Bitcoin's Consolidation Raises Investor CautionBitcoin's steady climb since early November peaked on December 4th, breaking through the weekly supply zone from $40,387 to $46,999. The pivotal point at $43,860 signals the need for a breakthrough to sustain the upward trend. However, technical indicators suggest a possible opportunity for investors to wait for a dip before buying, anticipating a 2024 price surge driven by ETF enthusiasm. Despite Bitcoin being overbought, the Relative Strength Index (RSI) remains weak, hinting at a potential corrective phase. If RSI breaches 70, confirming overselling, Bitcoin's support from the upward trendline could weaken. A downside move might push Bitcoin below the $40,387 support level, potentially testing $37,800 in more severe scenarios. Bitcoin's consolidation reflects investor caution, pondering entry points amid signs of a temporary retreat before a potential future surge linked to ETF speculation in 2024
BITSTAMP:BTCUSD
by AdmamTrade
3
BTC/USD Forecast: Cautiously Positive ConsolidationBitcoin's price gains support from evolving central bank policies globally, particularly the US hinting at looser monetary policies in 2024. Short-term price dips may present buying opportunities. Potential support lies around $40,000, with $38,000 as an additional level in case of a substantial downturn. Resistance is projected at $45,000, targeting $47,500 next, a historically influential level for Bitcoin. Recent Bitcoin fluctuations signal uncertainty despite factors like potential ETFs and policy changes influencing market sentiment. Traders closely watch key levels for the next moves in this volatile market.
BITSTAMP:BTCUSD
by Larissa-Trader
"Bitcoin in 2024: Unveiling Trends and Market Dynamics"As a part of Messari's 2024 Cryptocurrency Thesis, the platform highlights the growth and impact of BRC-20, Ordinals, and Inscriptions. These new transaction forms, along with Tem and Runes, have surged this year, flooding the Bitcoin mempool and causing a notable spike in transaction fees. According to the thesis, engravings alone accounted for approximately 21% of total transaction fees in 2023, based on data available as of December 10. Bitcoin's price remains relatively stagnant over the past month, currently trading at $42,598. At this juncture, BTC shows no clear signs of upward or downward movement, likely to sustain consolidation within the range of $42,069 to $44,006. If Bitcoin manages to breach the resistance at the upper end of the range, a bullish breakout could occur, pushing BTC beyond $45,000. However, should BTC fall below the support level of $42,000, a correction might lead it down to $40,000, testing the 100-day Exponential Moving Average (EMA) at $42,000. The market outlook for Bitcoin in 2024 is influenced not only by existing factors but also by emerging trends and transaction methods, as detailed in Messari's comprehensive thesis on the cryptocurrency landscape. Investors are keenly watching for potential breakthroughs and developments that could shape the trajectory of Bitcoin in the coming year.
BITSTAMP:BTCUSD
by Larissa-Trader
BTC Chart is a Masterpiece !! 39500 - 41800 is our targets nowHello Guys As u See on the BTC chart we had many beautiful patterns which were very accuracy by its targets up & down . last Pattern which its number is 4 had done its target exactly at 17500$ as u see (yellow rectangles). Now we are in Pattern Number 5 (Red Rectangles) which its Target after rocking 28800 are 39500- 41850 $ . Note : we should break the 28800 resistance to reach our targets our we can go first to the bottom of the falling wedge. Watch it and Decide Good Luck It is not a financial advice and plz DYOR
INDEX:BTCUSDLong
by KarimMohsen
1
Bitcoin Surpasses 50 Million Addresses, Reaches All-Time HighBitcoin continues its robust upward trend, recently reaching a significant milestone by exceeding 50 million unconfirmed addresses. This achievement reflects increasing user adoption and widespread acknowledgment of cryptocurrency as a legitimate asset. With an average holding of approximately $16,000 per user, the implications for future price performance are substantial. The recent all-time high underscores strong confidence among investors and users, signifying a maturing market transitioning from speculative trading to broader acceptance and usage. The impressive bullish trajectory in the price chart, marked by higher lows and a growing number of addresses, indicates a solid foundation for future growth. Bitcoin's ability to maintain strong support adds to its resilience and appeal as a store of value. As each user represents an average organization with the potential to multiply, the overall value of the network may continue to grow exponentially, solidifying Bitcoin's position as a leading cryptocurrency. The increase in addresses with non-zero balances is not just a numerical milestone but evidence of trust and value placed in Bitcoin by millions worldwide. This expanding user base serves as a powerful driver for sustained and stable price performance, hinting at a promising future for Bitcoin's price potential.
BITSTAMP:BTCUSD
by AdmamTrade
Bitcoin Loses Dominance as Altcoins Lead the Market SurgeThe impact of altcoins taking the lead over Bitcoin is not particularly positive. Bitcoin dominance represents the percentage of the total cryptocurrency market held by the world's largest digital asset. Whenever this dominance increases, altcoins tend to lose influence in the market, but the rising value of altcoins is causing Bitcoin to lose its dominance. This is later considered a signal of the altcoin season, which at this point is still a long way from happening soon. This indicates that Bitcoin's dominance was affected on Thursday as it dropped to 53% after failing to breach 54%. The total market capitalization of cryptocurrencies, excluding Bitcoin, has increased by 6.83% in the past 48 hours, reaching $48.66 billion. Digital assets, including Solana, Optimism, etc., recorded increases ranging from 14% to 31% in just one day. This is largely due to the observed accumulation over the past few weeks, leading to assets worth tens of millions of dollars moving out of exchanges. Ethereum, Shiba Inu, Fetch, and Dent emerged as the largest coin-exchange reducing wallets. In the last three months, ETH worth $778 million, SHIB worth $54.6 million, and FET worth about $48 million have exited the exchange wallets. This hints at a long-term bullish trend, which is significant given the current optimism in the market. The Fear and Greed Index for cryptocurrencies is showing greed prevailing in the market. In general, prolonged periods of greed tend to lead to corrections caused by profit-taking from investors. However, a closer look at the cryptocurrency market reveals that it is eagerly awaiting stronger bullish signals, and altcoins are not likely to experience any significant downturn soon.
BITSTAMP:BTCUSD
by AdmamTrade
Bitcoin Price Surge: Key Factors Driving the Upward TrendOn the macroeconomic front, the influence of fundamental principles such as interest rates and inflation on Bitcoin is gradually diminishing. Other fundamental factors boosting Bitcoin prices in 2023 include the resolution of the year-long FTX lawsuit and the admission of money laundering charges by Changpeng Zhao (CZ), the CEO of rival exchange Binance. While these events stir volatility in the cryptocurrency market and act as catalysts for price fluctuations, Bitcoin's bullish momentum is rooted in three major events shaping the BTC market before 2024. These are: Bitcoin's price history records the strongest gains in the fourth quarter, with October emerging as the most active month. According to experts, the narrative surrounding the Exchange-Traded Fund (ETF) transition continues to dominate discussions among traders and investors, with an expected approval date ranging from January 5 to January 10. Bitcoin halving, scheduled for April 2024, is anticipated to kickstart the next phase of the price surge. In summary, the Bitcoin price surge is influenced by a combination of historical trends, ETF anticipation, and the upcoming halving event, setting the tone for the cryptocurrency market leading into 2024.
by Larissa-Trader
2