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Bitcoin Correction Phases for 2024: A Comprehensive AnalysisIn this article, I present a detailed analysis of the potential correction phases for Bitcoin throughout the year 2024. Using advanced technical analysis tools and historical data, I've identified key levels and patterns that could indicate significant market movements. Key Highlights: Early 2024 Trends: Insights into the expected price movements in Q1, including potential support and resistance levels. Mid-Year Corrections: Analysis of mid-2024, focusing on possible correction phases and market consolidation periods. Year-End Projections: Predictions for Bitcoin's performance towards the end of 2024, highlighting crucial pivot points and long-term trends. This analysis aims to provide traders and investors with valuable insights to make informed decisions in the dynamic cryptocurrency market. By understanding these potential correction phases, you can better prepare for market volatility and capitalize on strategic opportunities. Feel free to share your thoughts and feedback in the comments section. Let's navigate the Bitcoin market together in 2024!
Short
by Radionov_Crypto
🔥 Predicting Bitcoin's 2024 Surge: Accumulation InsightsIf you enjoy this analysis, please give it a like and a follow In this analysis I want to take a look at the BTC accumulation phases of the current, the last, and the bear-market before that. I took the lowest weekly close as my anchor. As seen on the chart, Bitcoin is trading exactly where it should be - in a longer term period of accumulation. The square accumulation periods that I drew on the chart are just lines I quickly drew and are not set in stone. Nevertheless, it's clear that Bitcoin needs a period of relative sideways price action after the bottom is in. Naturally, we're assuming that the November 2022 lows are the bottom. In my view, we can go up and down for the next ~6 months. Most important will be the months after the halving took place. I think we're going to fly again by July/August 2024. Share your thoughts in the comment section 🙏
INDEX:BTCUSDLong
by FieryTrading
57
NASDAQ Index - monthly view The chart is pretty interesting here, on a monthly view.  During the covid crash in 2020, the total down move was around 32%. Today, in 2022, the correction move from the top is 33.85%, and it already made a nice bounce in June with the bullish engulfing candle.  So, there is a pretty good possibility, that the bottom was already set and we could enter the accumulation phase here. However, in case the current support is lost, we could easily drop to the prices before the covid crash. 
FOREXCOM:NAS100
by CryptoDrakkar
BTC forming Head and Shouldersif H&S forms and plays out, then BTC could drop down to support around 21.5 - 22k and see a bounce heading into New Moon on the 28th which reliably the time frame where local highs are made and price is generally bullish. We just exited the 5 days after the full moon where we reliably see local lows print, so I don't anticipate sustained bearish action, maybe some dips but should turn into a spring and have us hit higher highs than previous two seeks, maybe reaching up to 24k range
BITSTAMP:BTCUSDLong
by bitcalib
Another Wyckoff Accumulation Phase testing 40k?As institutional investors have started to get involved in crypto, we have been seeing more and more similarities to the stock markets and as such, we saw our first Wyckoffian patterns February to April in 2021. Followed by a very obvious accumulation pattern. As we have recently had two distributions to follow, it looks like we might enter another accumulation phase. While I do believe there is a chance we could see a strong V-shaped recovery and continue this bull market, we have to account for the possible play that is at hand. IF we fail to get over the bull market support band on a weekly timeframe as shown in this chart by a 20w sma and 21w ema, we might enter such an accumulation phase. What are my price levels based on? Since 2011, if we held the bull market support band at a certain point, we have never again went below it. As you can see, we did test the Band for 10 days at the end of September. We have seen previous accumulations and distributions which have formed significant points of support and resistance If we do get into accumulation, it would be wise to DCA throughout and hold some cash in stablecoins for a possible spring event (orange path). Should there be none, at least you DCA'd through the accumulation. I still believe we will see higher prices by Q1 or Q2 of 2022, as the cycles do seem to lenghten. 69k is unlikely to have been the top.
BITSTAMP:BTCUSD
by AlexWasTaken
7
Bitcoin, Baseball, & the Lunar CyclesBitcoin, Baseball Superstitions, and the Lunar Cycles: Using the Moon Phase Indicator to Enhance Your Trading Success It is rather well known amongst the trading community that J.P. Morgan once stated, “millionaires don’t need astrologists, but billionaires do”. I wonder though… Do most traders know that Evangeline Adams, the financial astrologist he chose to consult prior to big plays, was also the same woman sought after by other high ranking executives and famous magnates of the time such as Charles Schwab? Not a bad coach to have on your team even if others might question her methods. When I first began learning about and living the trading life, it reminded me of baseball fandom and superstitions. I always felt a little bewildered that a community that prioritized statistics, analytics, and logic could have a magical underbelly of inexplicable traditions amongst its players and spectators alike. There are so many infamous rituals in baseball that are—often unintentionally—mirrored in trading. 

 Baseball: Never talk about a no-hitter while it’s in progress
 Trading: Never brag about a trade until you’ve secured profit 

 Baseball: Refusing to wash hats, uniforms or clothes during a winning streak
 Trading: Often not washing yourself, the loungewear you’ve putzed around in for a few days, or the coffee mug you are consistently refilling during a trading bender Whether you don’t believe in superstitions or you’ve never missed Sweet Caroline with the Sox, everyone can agree that there are always matters unseen at play. Some things in life, baseball, or trading are just left up to chance. While some players blame poor performance on their lack of ritual follow through others will credit their rally to a stinky, inside out cap. In this classic “chicken vs. the egg” scenario; there are no concrete, analytical methods to prove correlation nor causation, yet people believe in them anyway. Similar to the argument over the validity of superstitions is the classic trader argument over the validity of indicators. Some claim price action is king and all indicators lag while others claim that price action is largely driven or influenced by these same indicators. Chicken: meet egg. To quell the civil war in every classic sitcom, sport, or hobby there always has to be one outlier that seems to be universally despised, questioned, or teased, and in trading that *coveted* role belongs to the moon phase indicator. Does it deserve all of the hate that it gets? Well, of the many natural patterns integrated into trading, one of the most well-regarded is the Fibonacci sequence. Although some may argue fibs are more technical due to their mathematical nature, others may counter that fibs essentially provide broader, more general intervals that price simply likes to range between. Uniquely enough, the moon is not a lagging indicator as its cycles and intervals are all predetermined based on previous compiled data, much like fibs. For how much the market preaches about cycles, theoretically, I am surprised there has not been more interest or research devoted to the astrological relations to trading. Conceptually, and scientifically, I can understand the doubt since little to no data has been quantified into a validated format. Much easier to study seashells than planets. Last, but not least, there is a lack of uniformity over application; mostly due to its lack of use. The moon phase indicator used here correlates local bottoms with full moons and local tops with new moons. The swings between cycles seem obvious, and I believe they are more easily seen on assets that trade 24-7 such as crypto in comparison to other markets with designated trading hours because, like the moon, the market is constantly in motion. The moon phases are like playoff beards. Everyone can grow one.. but it doesn't "look right" on every face. If you are willing to believe in superstitions, and you can't call the chicken or the egg.. why not open your mind to the moon phases? After all, part of the reason why we're drawn to the moon is its mystery. Like many trading indicators you use, you may not know the logic behind it but, "hey, if it works!".... ;-) Whether you are bullish, bearish, or anti-goat (Go Cubs Go!), Bitcoin finds its spectators singing in the 7th inning stretch, wondering where the next 2 innings will take us. Will the the August 8th New Moon follow trend and print a local top, swinging us down to the 22nd Full Moon time where we will see a local bottom? Or, will the momentum from the July bottom (Full Moon) carry us up and into extra innings of a bull market for crypto? Unless you’re a billionaire like J.P. Morgan, whom happened to have an astrological consultant at his ready, I guess the Moon Phases indicator in Trading View will have to do. My technical opinions on BTC are as follows: I do not believe that BTC will surpass 50K (or hold any brief break into it) due to the primary factor of psychological resistance. In addition, the point of control within the 49s really limits a break into the upper trading range “block”. Due to certain cycles, I believe the end of March marked the high for BTC. Statistically, I am firm in my belief that trading with the moon phases have demonstrated the best r/r opportunities for trading Bitcoin thus far. **NOTE: The tops/bottoms are not often occurring on the exact day of a new or full moon; rather, it provides a nice 3-4 day range, providing you with GREAT opportunity to scale in.** Cross reference with confluence and setups are a cake walk. I do believe that the new moon continues to show local tops and full moons continue to show local bottoms, though sizes of the swings on previous blocks or fractals may vary. Uptrending swings (from the full moon leading up to the new moon) measure as larger movements while downward swings (from new moons to full moons) have been more mild in comparison. 

 Bullish Scenario: 
 From Jan 21 BTC has completed a pagoda pattern and has consolidated in this high 20’s/low 40’s range. You could consider the May ’21 to Aug ’21 patterns on the daily as a bullish megaphone, which would suggest that as of this weekend (PA from Aug 7-8) price has broken towards the upside. BTC is likely to retest the break, and if it can flip the low/mid range 40s as a support, I believe we see 47 or 48K with deviations into the high 49s—maybe a kiss at 50 if we turn out the rally caps. 

 Bearish Scenario: 
 BTC has been making higher highs but until recently was printing lower lows with the bodies. Untested old levels remain, but like many growth stocks (looking at you, Proctor & Gamble) it is entirely possible those levels get retested. Nonetheless, I could be wrong about the pagoda pattern being finished, with BTC wanting more retracement to the downside. Pending regulations re: crypto, the 20s may be revisited where—*SHOCKER*—like a veteran pitcher that still throws heat, big bankrolls were able to scoop it up at a bargain price. Neutral Scenario: 
 BTC makes it to some conference games through the Fall (pushing the ceiling at 50K) but can’t seem to make it to October. Price ranges, slowly consolidating until the off season comes. BTC can crush some brewskis, let its figure go and hibernate for the crypto winter, maybe making one or two appearances on TV or TikTok before revisiting us in the Spring. Blame it on the GOAT.
by amizzle
10
BTC;Criticality &Phase Transition; Thermodynamics of SpeculationThis is just a quick take on how markets , and more specifically Speculation - in it's most general, universal sense -, is informed by similar critical dynamics as those found underlying other social interactions. (The math is hidden. You're welcome.) What this is Not , is a ready-to-use model since the specific parameters or the full model description are not part of the proceeding. The following "As is ..." ; This statistical–mechanical model is based on the Boltzmann–Lotka–Volterra (BLV) method. BLV models involve two components: a fast equilibration, Boltzmann , component and a slow dynamic, Lotka–Volterra , component. The Boltzmann component applies maximum entropy principle to derive the static flow patterns of instruments (or their utility , as is the case). The Lotka–Volterra component evolves the spatial distribution (Price & Time; i.e.the chart) and the flow pattern of a information according to generalized Lotka–Volterra equations for distributed information. The resultant dynamics exhibit critical regimes, interpreted as phase transitions , where a small variation in suitably chosen (control) parameters changes the global outcomes measured via specific aggregated quantities (order parameters). The main take-away here is that this is in line with the idea that, despite the complexity of such a system (as depicted) only few parameters may be necessary to understand drastic macroscopic changes. The maximum entropy method has been applied to a variety of collective phenomena (E.g., Speculation; Yours Truly) suggesting a formal analogy between complex, socio-economic systems and thermodynamic systems. We use a clear thermodynamic interpretation of the Fisher information as the second derivative of free entropy. Specifically, we investigate the minimum work required to vary a control parameter and trace configuration entropy and internal energy, according with the first law of thermodynamics. The thermodynamic work is defined via Fisher information and thus can be computed solely based on probability distributions estimated from available data. Once we introduce the concept of thermodynamic efficiency as the ratio of the order gained during a change to the required work (information transmission), it can be rather easily demonstrated that it is maximized at criticality . Note; The above further illustrates the common observation that Technical Analysis fails, in most cases, to capture (forecast) Finite-time Singularities - i.e the sudden appearance of exponential price increases or price collapses ( crashes ).
Education
by Nemo_Confidat
7
ACCUMULATION PHASE A : BTC 1D Timeframe 2021/06/07BITBAY:BTCUSD This chart analysis is simplified and gamed by previous success methods by yours truly. DYOR, take it with a grain of salt if matters of analysis conflict with yours. Wycoff Phase A Fundamentals Widening spread on chart and selling pressure due to lack in news affected price action (1 of many catalysts) followed by AR (automatic rally); price will test supply and demand levels at SC level. Institutional demand ensuing. Manipulators by large stopping downtrend after fake out. Bubbles of distribution meeting a center in price action. Short-coverings included. Summary PS - Preliminary Support holds support in channel. SC - Selling Climax too follow. Key Notes: Williams R% has aided in effectively predicted trend projections 10/10 times this quarter on daily time frames for me personally chart is not focused on this momentum oscillator but I do implore onlookers to gather reflections. Gaining effective trend lines are merely encouraged by simple level tests. Manipulators are neither conspiratorial nor fictitious. They vary in size, however institutional demand has existed since 2009. Concentration of manipulators are as natural as retail, some say slowly gaining equal and collective boundaries. Thanks, be easy.
BLong
by BeEasyCapital
Bitcoin Breaking BarriersThis analysis is based on Wyckoff ideas. We can see a clear trading channel, that was broken during February 10 and 11, to form a new, but smaller and more detailed channel, where prices managed to rise strong up to a new high. That new high was made by a large green candle, closing about a fifth of its length, showing some weakness; and since then volume has dropped drastically, but with some clear signs of demand strength. A spring in Wyckoff terminology; SMAs crossed, supporting prices up; a clear spring to the smaller support line, and now forming what is looking like a test on the all time highs resistance line. But the key question is, is volume high enough to keep pushing prices up? Have a great day!
BITSTAMP:BTCUSD
by Fernando_132