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Crypto-trading

BTCUSD and DXY: Tales of two Megaphones.BTCUSD has managed to stay neutral on the 1D technical outlook (RSI = 53.222, MACD = 356.700, ADX = 24.282) despite the recent geopolitical turmoil, showing considerably buying strength after rebounding near the 1W MA50 at the bottom of the Megaphone. The same Megaphone can be seen on the DXY and last week the price formed a top and got rejected on the HH trendline. It is widely known that the USD is negatively correlated (moves opposite) to risky (and not only) assets, including Bitcoin. This correlation and especially the upcoming MA50-100 Bearish Cross for DXY and Bullish Cross for Bitcoin on the 1W timeframe, should send the latter even higher, considering that it is closer to the 1W MA100 and is the last Resistance standing from the bear market. It is obvious that (at the moment at least), Bitcoin is proportionally more bullish than DXY is bearish, but of course this can change depending on outside fundamental dynamics. Even the 1W MACD shares opposite but symmetric trends. A 34,000 target based on this doesn't seem far fetched for Bitcoin. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
8
Arthur Hayes’ Fresh Bitcoin Price Predictions In a recent Impact Theory interview, former BitMEX CEO said that Bitcoin could reach $750,000 to $1 million by 2026 and $70,000 by the end of 2024. Here are his key arguments: 1. Anticipated Financial Crisis: Hayes anticipates a financial crisis that could result in interest rates dropping to zero or rising, albeit not as swiftly as government spending rates. 2. ETF Launches: He envisions major asset managers in the U.S., Europe, and possibly Hong Kong launching multiple exchange-traded funds (ETFs) for Bitcoin. 3. Record Market Levels: Additionally, Hayes predicts that NASDAQ and the S&P 500 will attain record levels.
Long
by DEXWireNews
Bitcoin I KNOW i have not posted any charts in a while and you might be wanting (if you follow me) to know how to feel about this BTC breakout and recent pump. But in all honesty, all it has done is come right back into the rang and using the same S(support) and R (resistance) lines that I mapped out for you months ago. Only thing is now the lines you used to buy for support your now most likely better off watching as R (resistance). It even seems the yellow downward trendline even is still in play and recently gave you a great moment of info to either TP a recent long and or setup a new short at that time.
BITSTAMP:BTCUSD
by rarebreed29