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Uptrend

BTC Market Update 5th February In the latest analysis post, I've closely examined the performance of Grayscale Bitcoin Trust (GBTC) with a particular focus on recent liquidity movements. Over the past week, spanning five trading sessions, a noticeable deceleration in the rate of daily outflows from the trust has been observed. Specifically, the average daily outflow rate has contracted by +20%, indicating a substantial reduction in the volume of withdrawals. Since its inception, Grayscale's Bitcoin exposure has significantly diminished, registering a reduction of 127,000 BTC, equivalent to a 20.5% decrease in its holdings. This contraction can be attributed to various factors, including the liquidation of positions by discount buyers, the unwinding of assets by the FTX estate, and a notable shift by investors towards more cost-effective ETF options available in the market. Regarding Bitcoin's market direction, my analysis suggests a period of consolidation before any potential upward momentum. Currently, there are no discernible indicators hinting at an imminent downturn in Bitcoin's value; the market conditions appear stable and ready to grow. This stability holds significance for the crypto market, as historical patterns indicate that an increase in Bitcoin's price often precedes similar uptrends across the broader altcoin market. In essence, when Bitcoin's price rises, it tends to have a ripple effect, elevating the value of other coins. The intricate interplay between Bitcoin's liquidity movements and its price dynamics, coupled with the subsequent impact on the altcoin market, underscores the complexity of the cryptocurrency investment landscape. Having a long exposure in the consolidation range is considered a favorable entry point, especially for portfolios without existing long exposure.
Long
by TheArabianWhale
1
The Question is: How Far Bitcoin can Rise?Amidst prevalent market fears of a significant Bitcoin price drop, today's analysis aims to delve into the price perspective and probabilities for a substantial decline. Our focus on the 3D chart draws attention to the critical 30k psychological supply zone, convincingly breached by buyers amidst heavy buying pressure. This initial breakthrough presents an immensely bullish signal for the BTCUSDT pair. What's paramount is the observation since November 2022, with Bitcoin's movement confined within an ascending channel. This week witnessed a breakthrough above the channel's upper boundary, further validating positive price action for Bitcoin. As a result, we anticipate BTC to sustain its upside rally before a substantial corrective move downward. The immediate and robust resistance level to monitor lies around the $47.2k area, historically known as a significant supply and demand zone during 2021-2022. Presently, it stands as a double Fibonacci resistance zone, likely to magnetize the price. This analysis points to a persistently bullish outlook for the crypto market, especially favoring multiple altcoins poised to outperform Bitcoin significantly in the coming weeks.
Long
by CryptoPAMM
2
CMSB rebound soon?CMSB After this few days of minor crash on penny stock, CMSB also been affected. It also been affected by the news of Norges Bank ceased to be substantial share holder on 12 Jan 2024. However, personally I think it will not affect the fundamental of the company. Technical wise, it as mentioned earlier, RM1.18 is a key resistant level that had been tested 4 times since Apr 2023. The last really in the 1st week of Jan 2024 was the 4th attempt to test this level and follow with the major correction. Today, 3rd trading week of 2024, the price been supported the strong support level (RM1.02- 1.05). If next week, the price rebound stronger back and supported by stronger that to be released on end Feb, that's good chance to break RM1.18. If it continue the short term down trend to break below RM1.02 then need to be careful and prepare to take loss.
MYX:CMSB
by mtwwy
📈 AARTIIND: New Year, New Opportunities! Analyzing the UptrendHello traders! It's great to be back with my first post of the year. Today, let's dive into $NSE:AARTIIND. Here's the breakdown: 📉 Directional Shift: The stock is transitioning from a downward to an upward trajectory, signaling a potential change in trend. 📈 Retesting Support: After reaching its previous peak, AARTIIND is retracing to test the support before gearing up for another upward move. 📊 Chart Analysis: Check out the visual for my entry, exit, and profit target. These are the key levels I'm watching closely. 💹 Derivative Trading Strategy: For derivative traders eyeing January expiry, consider 580 or 600 CE for potential opportunities. 🔄 Dynamic Market: Keep in mind that the market is dynamic, and these are just my observations. Always conduct your analysis before making any trading decisions. 🤔 Your Thoughts: What's your take on AARTIIND? Share your insights and strategies in the comments. 🔗 Stay Connected: Let's navigate these markets together. Stay tuned for more posts and updates! Happy trading in the new year! Best regards, Alpha Trading Station
NSE:AARTIINDLong
by AlphaTradingStation
8