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BITCOIN The path to All Time Highs is scripted.It has been 14 months (November 14 2022) since we published our first (and to this date most important) Bitcoin (BTCUSD) Cycle comparison between 2022/ 2023 and 2014/ 2015: www.tradingview.com As you can see the main driver behind this comparison was the FTX crash in November 2022 and the Bitfinex crash in August 2015, which both acted as catalysts for the bottom. Following the FTX crash/ bottom, the price action has so far followed quite closely the 2015/ 2016 recovery. On today's analysis, also on the 1W time-frame, we focus on the Rising Wedge that funneled the price action from the Cycle bottom to the bullish recovery. The similarities between the two Cycles are remarkable: 1. Bounce on the Lower Highs and 1W MA50 (blue trend-line) break-out, which basically confirmed the transition into the Bull Cycle. 2. Immediate Channel Down after the 1W MA50 break-out on the Rising Wedge's first Higher High. 3. 1W MA50 supporting since the break-out. Right now we are in the stage where the price has broken above the Rising Wedge. In June 2016 this caused a short-term correction back inside the Wedge towards the 1W MA50, which as mentioned held. If BTC continues to replicate that Cycle, does it mean that such a technical correction is due? The 1W MA50 is currently above 30000 and rising aggressively. But what do you think? Are you expecting a 1 - 1.5 month pull-back from here and then a new All Time High after April's Halving? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
3
BTC/USD Dynamics and Concerns over Attraction ForcesReaching the $48,000.00 mark earlier this week, some speculators may view this value as an upcoming attraction point for Bitcoin. However, traders in the BTC/USD market must maintain a realistic perspective, acknowledging the potential for Bitcoin prices to decline, and a one-way upward trend could pose a risky gamble, given the likelihood of lower reversals. Risk management remains crucial for BTC/USD, and short-term volatility is expected to increase in the near future. Attraction forces persist for BTC/USD, and its value may decrease if Bitcoin holders decide to withdraw profits as financial institutions begin to engage in Bitcoin ETFs. The upcoming trading days in the BTC/USD market will garner attention, urging traders to exercise caution. Short-term prospects for Bitcoin: Current Resistance Level: $46,375.00 Current Support Level: $46,150.00 High Target: $47,200.00 Low Target: $45,540.00 This analysis underscores the importance of a balanced approach in the BTC/USD market, recognizing both attraction forces and potential risks. It provides a forward-looking perspective for traders, emphasizing the need for careful consideration in the face of evolving market dynamics.
BITSTAMP:BTCUSD
by AdmamTrade
BITCOIN ETF APPROVED!! Aggressive rally to $120k possible?Exactly a year ago (January 18 2023) we posted our last Fibonacci MAs study and called for a calculated rally while the rice was still at 20k: It is now time to expand on our original idea and update it using the Mayer Multiple Bands. Basically, as you can see on the chart below, the Mayer MA helped us on June 17 2022 identify the Bottom Phase on the 1W MA300: On the current analysis the 1W MA300 is portrayed by the blue trend-line but our focus has shifted to the black trend-line (Mayer Multiple Mean), which just broke emphatically this week. As you can see, when BTC has broken above this level since November 2015 (green circles), it starts aggressive rallies (lowest of those 3 has been the April - June 2019 of +180%). The dashed curve represents the Bull Cycle Rally phases and if the +180% mininum black trend-line rise is repeated, expect at least $120000 as the current Cycle High. It might be less aggressive than the previous ones (Theory of Diminishing Returns and Cycle lengthening) but it should hit at least the orange trend-line (2nd upper SD) as it has always done in the past. But what do you think? Are we going to see such a strong rally now that the Mayer Multiple Mean has been broken? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
7
Bitcoin Trades Sideways After SEC Greenlights Spot Bitcoin ETFBitcoin was hovering around an elevated flatline on late Wednesday after the Securities and Exchange Commission gave the go-ahead for the first spot bitcoin exchange-traded funds (ETF) to be traded in the U.S., as expected. According to Coin Metrics, the cryptocurrency pared earlier losses and was most recently trading around $46,671. Meanwhile, the price of ether shot up as much as 15.5% to $2,606, the highest since May 2022. Most recently it was up 14.5% at $2,586.54. The ETF approval is a milestone for the crypto industry, which first sought to launch a bitcoin ETF more than 10 years ago. Optimism has been building since Grayscale's major legal victory over the SEC in August regarding the regulator's refusal to allow them to convert their popular Bitcoin Trust (GBTC) into an ETF. The price of the leading cryptocurrency has risen 80% since then.
BITSTAMP:BTCUSD
by AdmamTrade
Bitcoin's Jubilee Upgrade ImpactBitcoin is preparing for a significant "Jubilee Upgrade" at block height 824,544. This upgrade briefly suspends deposit and withdrawal services for certain BRC20 tokens on January 5, 2024. The update aims to address inconsistencies in engravings on BTC denominations within the BRC-20 network. UniSat will monitor functionality, and a scheduled network update from January 5 to 6 will temporarily close the BRC20 market while other services continue uninterrupted.
by AdmamTrade
4
Bitcoin Eyes $50,000 amid ETF SpeculationBitcoin's price continues to oscillate around the weekly supply zone midpoint of $43,860, poised for an early breakout as imminent ETF launches draw closer. The flagship cryptocurrency finds robust support from the 25-day and 50-day Exponential Moving Averages (EMAs) at $43,130 and $41,391, respectively. The upward slope of these EMAs indicates minimal resistance ahead. The Relative Strength Index (RSI) also trends north, signaling upward momentum. Increased buying pressure at current levels might drive Bitcoin to decisively breach the pivotal $43,860 level, paving the way for the next crucial range expansion toward $48,000. Once surpassing the $48,000 threshold, Bitcoin could swiftly surge towards the psychological level of $50,000 before profit-taking ensues. Traders exercising profit control might set the pace for BTC to achieve the ambitious target of $60,000. Conversely, premature profit-taking prompted by SEC rejections or delayed decisions could trigger a downturn. Such action might break below the 25-day and 50-day EMAs before testing the convergence between the 100-day EMA and horizontal support near $37,800. However, to nullify the current bullish outlook, Bitcoin would need to close below the psychological level of $30,000.
BITSTAMP:BTCUSD
by AdmamTrade
5
BITCOIN Formed the first 1W Golden Cross in history!Bitcoin (BTCUSD) completed with last week's candle a Golden Cross on the 1W time-frame, its first ever in history! That alone is a monumental development, as the Golden Cross pattern is a powerful technical formation, especially on stable long-term time-frames such as the 1W. Apart from the technicalities, this pattern becomes even more important considering the fact that it was formed only three days before the all important decision of the U.S. Securities and Exchange Commission regarding the approval of a Bitcoin ETF. On the current analysis we decide it would be productive to maintain a long-term perspective on BTC and interpret the Golden Cross and the potential ETF approval on a macro Cyclical scale. As you can see, we are on that certain level during each Cycle when the Parabolic Rally is about to take off. Principally, there is nothing that can hold BTC back, especially after Halving 4 this April and every pull-back on the dotted trend-line is technically a long-term buy entry. But what do you think? Is this first ever 1W Golden Cross along with a potential ETF approval really what Bitcoin needs to take off and approach the All Time High? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
10
"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 Is a potential ETF approval already priced in?It has been almost 3 months since Cointelegraph's fake ETF approval tweet (October 16 2023), which was basically the start of a medium-term mid-Cycle parabolic rally for Bitcoin (BTCUSD) that saw it grow by +69.10% this week. Yesterday we got the first serious signs of exhaustion as the 1D candle made contact with the 1D MA50 (blue trend-line) for the first time since October 12 2023. That was also at the bottom (Higher Lows trend-line) of the long-term Channel Up pattern. Both (1D MA50 and Channel Up) held, which keeps the trend bullish for now. ** Is the ETF priced in ahead of SEC? ** Only days before the Securities and Exchange Commission's (SEC) deadline regarding its decision, the real question is, has a potential Bitcoin ETF approval already priced in on this enormous mid-Cycle rally? ** Buy the rumor, sell the news? ** Indeed that was a significant move, especially considering the fact that it took place months before the next Halving (number 4, expected this April), which is the fundamentals event that provides a supply shock in the market. Nobody knows for sure how the market will react to a potential ETF approval next week but we have seen the old 'Buy the rumor, sell the news' approach one too many times happening in situations like this. ** Next Halving is the benchmark ** It wouldn't be surprising to see a correction towards April's Halving and then accumulation towards the Bull Cycle's 1 year rally. Purely from a technical point of view, which is the only hard data we have at hand to work with, a 1D MA50/ Channel Down break downwards can start a technical correction towards the lower Fibonacci retracement levels and the long-term Moving Averages. ** Fibonacci targets and the 1W MA50 ** The first level to test would be the 0.382 Fibonacci around 37500 and then the 0.5 Fib around 35350. If the correction takes place gradually in a controlled manner and not aggressively, we can see a 1D MA200 (orange trend-line) contact by then. A more aggressive possibility can see BTC test the 0.618 Fib and the 1W MA50 (red trend-line) a little lower, which is the natural long-term Support during Bull Cycles and is currently intact (the 1W MA50) since March 13 2023. ** Bearish Divergence ** In addition to the above technical realities, we shouldn't ignore the 1D RSI, which has been on Lower Highs since October 25 2023, i.e. peaked 9 days after Cointelegraph's fake ETF tweet, trading within a Falling Wedge pattern, which with regards to the price's Channel Up, is a Bearish Divergence. But what do you think? Is a potential ETF approval already priced in, and if yes how low do you expect the price to fall? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
10
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 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
BTCUSD: US dollar strengthens as US bond yields rise pending relInvestors are bracing for a busy week ahead of key economic data, including European inflation data and U.S. employment and non-farm payrolls. These numbers will go a long way in shaping the Federal Reserve and European Central Bank's expectations for monetary policy decisions. Details of the Fed's discussions are expected to be revealed on Wednesday when the minutes of the December Federal Open Market Committee meeting are released. According to the CME FedWatch tool, market sentiment reflects an 82% chance that the Fed will start cutting interest rates in March, with more than 150 basis points of easing expected by the end of the year. Traders are also keeping an eye on volatile oil prices due to concerns about potential supply disruptions in the Middle East following recent attacks on container ships in the Red Sea. In the crypto market, Bitcoin has risen 3.25% since the beginning of the year, reaching its highest level since April 2022, on expectations that the U.S. Securities and Exchange Commission will soon approve Bitcoin spot fund trading. did.
BINANCE:BTCUSDLong
by Chart_MasterPro
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
Happy New Year with BITCOIN breaking 45k!First and foremost allow me to wish everyone here in the TradingView community a Happy New Year and a prosperous 2024! What a better way to start the year than Bitcoin (BTCUSD) breaking above 45000 mark, a level it last visited on April 06 2022. Every Cycle can be seen trading within a Megaphone pattern with the parabolic rally illustrated by the dotted curves. Note that every time the price breaks above the 1W MA50 (blue trend-line), it holds it as Support (exception of course was the COVID crash). The 1W MA50 is now 30000, which means that technically any pull-back/ correction that takes place until the peak of this Cycle, shouldn't break below this level and practically dip buyers have a benchmark to work with. But what do you think? Are we about to witness an even more aggressive part of this new rally? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
9
"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 The Ultimate Pitchfan Cycle AnalysisBitcoin (BTCUSD) has seen a significant mid-Cycle growth in the past 2 months, approaching the pivotal 50k level. Technically a break above the 48.5k Resistance, constitutes the beginning of the Parabolic Phase of the Bull Cycle. There isn't a better way to illustrate this transition than the use of the Pitchfan tool. Rarely used on BTC analysis and even more so on the long-term Cyclical patterns, it displays as you can see a very accurate illustration of the Cycles and specifically the stage we are currently at. Every Resistance break-out usually takes place around the Halving event, which is the fundamental that typically signals the start of the rally to a new All Time High (ATH). The market is only 4 months away from this event and based on this every pull-back to the 1D MA50 is a buy opportunity to Dollar Cost Average (DCA). So what do you think? Do you expect a Bullish Break-out into the new Parabolic Rally soon? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
9
"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