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.
Btcusdlong
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!
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.
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.
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.
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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 :)
"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.
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
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.
"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 $42,000.
The market outlook for Bitcoin in 2024 is influenced not only by existing factors but also by emerging trends and transaction methods, as detailed in Messari's comprehensive thesis on the cryptocurrency landscape. Investors are keenly watching for potential breakthroughs and developments that could shape the trajectory of Bitcoin in the coming year.
BTC Chart is a Masterpiece !! 39500 - 41800 is our targets nowHello Guys
As u See on the BTC chart we had many beautiful patterns which were very accuracy by its targets up & down .
last Pattern which its number is 4 had done its target exactly at 17500$ 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
BTC analysis and prospects in the new weekShort -term vision
Bitcoin seems to rise. The long -term trend is 100%increased, but we may see some obstacles in the near future. K is still my goal. This will be the strongest resistance area in front of the highest region of all time.💪
🎄🎄❤️❤️❤️🎄🎄
I wish you a peaceful Christmas
🎄🎄🎄🎄🎄🎄🎄🎄🎄🎄🎄🎄
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.
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.
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.
BTCUSD 19/12Pair : BTCUSD ( Bitcoin / U.S Dollar )
Description :
Impulse Correction in Long Time Frame, Completed Impulsive Waves " 12345 " and Corrective Waves " AB ". Symmetrical Triangle as an Correction in Short Time Frame and it has completed the Retracement for Break of Structure
Entry Precaution :
Wait until it Breaks UTL / LTL
BTC : RSI Macro-TREND Market Hack 😎Hi Traders, Investors and Speculators of Charts📈📉
As I've said before, I love the logarithmic view of BTC. It gives a clearer indication of price increases alongside growth. Although inflation and value factors aren't physically calculated into the price, seeing the upwards curve makes more sense from a "holistic view" that would include things such as growth and inflation.
A logarithmic chart view displays price changes as a percentage of the previous price. This means that equal vertical distances on the chart represent equal percentage changes, regardless of the absolute price level.
This is in contrast to a regular chart view, which displays price changes on an arithmetic scale. This means that equal vertical distances on the chart represent equal absolute price changes.
With help of technical indicator RSI, we can use the macro logarithmic together with the RSI as a sort of "roadmap" to identify the current dominant macro trend .
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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COINBASE:BTCUSD
BTC Soo Bearish that its bullish. Price Target of 600K by 2025?Please do your DD as this is not an investment advice.
This could be the most ridiculous price prediction considering current world events but before we dismiss it outright, lets go through it step by step together.
First looking at 2013 to 2015 bear market then comparing it with the 2021 to this present day we can see similarities with both correction (provided the current ABC seems to be a flat correct)
Second, if we look through the same time above, we see that A wave bounces on the 50 EMA, breaks below, back test then finds support on the 200 SMMA
Comparing the current bear market to what was discussed above, we can see so far we have done exactly the same (provided the current ABC seems to be a flat correct)
If we are to follow the path in the 2013 to 2015 we need to go test the 50 EMA, get rejected then test the 200 SMA for support one more time before we head higher. (We need to watch this carefully)
Another thing to consider is the time it took (for the 2013-2015) and currently taking for this current correction.
Now lets talk about fundamentals for why we could rally to new highs.
We can look to the current currency issues with the bank of England and Japan, with the BOE starting QE again. As Peter Schiff said in his tweet today, which country is next? You can rest assure if the British and Japanese economies are struggling then they are more shoes to drop
The fed has also printed ~40% of the US currency in the last few years, which is dilution and should cause the dollar to fall in the long run. Yet the dollar is acting like a meme stock (just looks at the chart), pumping after being diluted by almost 50%
Bitcoin was started during world financial chaos and it should thrive in this chaotic time as people start to see their purchasing powers reduce due to inflation and currency losing its value
But why the PT of about 500K? Well if you look at the fractal and Cathie wood has been screaming BTC is headed to 500k if institutional investors move into Bitcoin and allocate 5% of their portfolios,” the price of the cryptocurrency would soar to about $560,000 by 2026)? what better time for them to buy with all the chaos in the world right now (and maybe yet to come)
Bitcoin Cash Surges After Whale AccumulationWhile Bitcoin Cash may not be making headlines in 2023, this altcoin is demonstrating optimistic signs starting in 2024. The Bitcoin-named cryptocurrency is undergoing a recovery, currently grappling with a crucial resistance level that has acted as a barrier to its recovery since July. Ahead of the FOMC meeting, investors exhibit caution, reducing risk as evidenced by a 40% drop in trading volume over the past 24 hours. Following the release of U.S. CPI data in November, the price of Bitcoin briefly surged to $42,000 before retracing.
Looking ahead, the prevailing view is that the Fed will maintain interest rates at the target range of 5.25-5.50%. In the latest meeting in November, the FOMC held interest rates steady, consistent with the September meeting, signaling that rates may not change in the near future but remaining open to adjusting this stance based on economic conditions.
The temporary halt in rate hikes is an anticipated outcome, allowing the Fed more time to assess whether the current interest rates effectively curb inflation that poses a threat to economic growth.
The target range of 5.25% to 5.50% was raised during the July meeting, marking the 11th interest rate hike in the 2022/2023 cycle, all aimed at managing inflation. This explains the observed uncertainty in Bitcoin prices.