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#BTC Big Picture Update 04.05.2024#BTC Big Picture Update It was expecting around 74250k but the High was at 73k Area Now what happens next? I would say after this whole pump BTC should make a nice ABC correction and should this drop (which we saw on 01.05.2024) be our WAVE (A), we still have wave B and C ahead of us, where the B ending between 66k and 68k, and after the Resistance is confirmed comes wave C, which could cause a drop even to 48k and take as many with it as possible (liquidation). This was one variant, and the other is if BTC manages to hold above 68k and the 2nd weekly candle closes above it (or the first candle is seen with a massive pump) then I am sure the journey will continue where TP1 will be 88k. It is important that you keep referring back to my BTC Big Picture to understand where we are, I can tell you that my BTC charts are extremely useful. If we see a massive drop no matter when, please remember the 48k mark because there we have a Yearly support that was previously resistance but was broken on 05.02.2024 and has not yet been tested. Cheers
COINBASE:BTCUSDLong
by ML-Master
The Truth About Bitcoins Current SituationHello My Dear Traders Investors And Community, welcome to this middle-to-long-term-analysis about the BTCUSDs price movement. As we are still in uncertain terrain right now it is important to look at BITCOIN with a rational head, as it should always be the motto to trade what we see not what we think, many people call for the complete moon shot or the fall to zero the next months this is why I take a calm eye on the current situation facing BTCUSD to point out where we have to go with the bitcoin-adventure to succeed in the markets, the big question in the corona-crisis now for the cryptocurrency market is if bitcoin and other cryptocurrencies is an anticyclical investment like food-companies, armor or pharmaceutics. This is the big question now because BITCOIN is still trading between the lines with different bearish and bullish signals coming in as on the other side the economy of many countries of the world is in a confirmed recession and stocks in a confirmed bear market. Please read the whole analysis to have a full-depth perspective! Thank you. Halving-Cycles: First of all the third and next halving day will be the 2nd May 2020 this year, it is only one month to go and bitcoin is still stuck in consolidation, today this is the first difference to the last two halving cycles which you see in my chart, there was a clear accumulation before the halving cycles before BITCOIN exploded bullishly to the first halving-cycle target at 1162 and the second halving-cycle target at 19666, now as we have only one month to go and we aren't in a confirmed accumulation right now this is a bad sign that the next halving cycle may not confirm like the last two ones. But this date and the time after this date shouldn't be ignored because as the empirical approach to the last halving-dates shows is that it confirmed every time and BITCOIN made amazing 90.52 times more in price in the first halving cycle and in the second amazing 28.74 times more. Looking at this fact from a mathematical point of view the next confirmed halving-cycle would shoot bitcoin to the moon! But this is only half of the The 20- And 50- EMA: Now when we look at bitcoins past we saw two confirmed bear-markets at all, these two were confirmed with the 20-EMA and the 50-EMA, as you can see these changes in the trend in my chart, these where confirmed bear-markets. The situation now is whether in a bear nor a bull-market it is still consolidating. But what is important right now, as you can watch it in my chart, is that we are shortly before a bearish confirmation of the 20-EMA crossing the 50-EMA down, as we are trading below the EMAs this could be a possible bearish signal to the downside when we cant develop to trade above the EMAs again, as you can see this signal signaled the confirmed bear-markets in the past, there are also other bearish indications which signal a bearish continuation like the Thunder-CLoud-Suite which closed recently bearish on the weekly chart if the EMAs confirm it will add one more confirmed bearish indicator to the list! The Big Triangle And Where It Will Be Confirmed: In anticipation of bitcoins further price-movement we have to keep the big symmetrical triangle in the head, which is still developing and will show a break in either direction. You can see it developing in the middle of the red falling support line and the major rising black trend-line of the whole bitcoin-big-picture. There is a definite end-date where this triangle will end, it will be after the halving date, the triangle will definitely be confirmed at the 14th December this year. This is an important date because it is highly probable that the recession and bear-market decline will still progress at this time, so the outcome can be bearish when BTCUSD confirms to be procyclical going along with the stocks, indices and real estate market. Otherwise when we see bitcoin stabilizing above the 20 and 50 EMA, the thunder cloud suite and other factors at the local time-frame there is the possible breakout to the upside which has to be confirmed definitely with the full break-up of the huge falling red resistance line! So my friends thank you for watching my analysis, I hope everybody of you could get some important insight and where the journey will bring us the next time, feel free to support, thanks for everybody who is supporting, my friends. As I always say it is the motivation to transform opportunities into gold remains the most significant tool for a trader. this is why we should take the market seriously and make the best of every situation. ;) FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
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