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Bitcoin - Will Bitcoin continue to rise?!Bitcoin is above the EMA50 and EMA200 in the 4H time frame and is trading in its descending channel. Risk ON sentiment in the US stock market or investing in Bitcoin ETF funds will lead to its continued upward movement. which will cause the downtrend channel to fail. Capital withdrawals from Bitcoin ETFs or risk OFF sentiment in the US stock market will pave the way for Bitcoin to decline. This path will continue until the bottom of the channel and the specified support range. It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and compliance with capital management in the cryptocurrency market will be more important. According to a report by Fox Business, informed sources have indicated that the new U.S administration might grant the Commodity Futures Trading Commission (CFTC) authority to oversee certain digital assets. The CFTC’s expanded role could include regulating cryptocurrency exchanges and cash markets tied to digital assets such as Bitcoin (BTC) and Ethereum (ETH), which are categorized as commodities. These changes could diminish the Securities and Exchange Commission’s (SEC) influence in this sector. Gary Gensler, the current SEC chairman and a staunch crypto critic, has supported granting CFTC more authority over Bitcoin, deeming it a commercial commodity. In March, the CFTC filed a lawsuit against the crypto exchange KuCoin, also classifying Ethereum as a commodity. As of November 2024, MicroStrategy owns over 380,000 Bitcoin, valued at approximately $31.6 billion, accounting for nearly 2% of the total global supply. This Virginia-based software intelligence company first began purchasing Bitcoin in 2020 and has since expanded its holdings to 15 times those of its closest corporate competitor, Marathon Digital. Tesla, which invested $1.5 billion in Bitcoin in February 2024, ranks fourth among public companies in Bitcoin ownership. Around the same time, Tesla also started accepting Bitcoin as payment for its vehicles. El Salvador’s President Nayib Bukele has proposed leasing the country’s 170 volcanoes to Bitcoin miners, granting them access to the geothermal energy. Dan Morehead, CEO of Pantera Capital, has forecasted that Bitcoin’s price could reach $740,000 by April 2028 based on historical trends. Morehead tied this projection to the election of Donald Trump as a pro-crypto U.S. president and a Congress supportive of digital assets. He also highlighted that only 5% of the global financial wealth is invested in blockchain-related assets, suggesting significant growth potential for Bitcoin. In his letter, he wrote, “Even after 11 years, Bitcoin is still like a seed sprouting in the soil.” He added that the regulatory challenges faced by blockchain over the past 15 years have now transformed into golden opportunities. This optimistic outlook aligns with Pantera Capital’s Bitcoin fund, which has delivered strong performance. Launched in 2013, the fund has achieved a 131,000% return over 11 years, excluding fees, primarily due to Bitcoin’s 1,000-fold price increase since the fund purchased it at $74 per BTC. Morehead emphasized that “it’s not too late to buy Bitcoin.” He added, “Some investors may think that Bitcoin’s doubling this year means they missed the opportunity, but this is a flawed mindset.” Former Binance CEO Changpeng Zhao (CZ) sparked a debate about meme coins in the crypto space. In a tweet, he criticized meme coins, stating, “I’m not against memes, but meme coins have gotten a bit bizarre. Let’s build real applications using blockchain.” Meanwhile, Hong Kong has proposed tax exemptions for cryptocurrency activities, aiming to compete with Singapore as a leading financial hub and attract major investors and asset managers. According to the Financial Times, the exemptions cover profits from digital assets, private credits, overseas properties, and carbon credits. Patrick Yip from Deloitte China noted that this initiative could bolster Hong Kong’s financial industry as family offices in the city allocate up to 20% of their portfolios to digital assets. During the trading week of November 25–29, U.S. Bitcoin spot ETFs saw $138 million in capital outflows after seven consecutive weeks of inflows. Performance of the top-traded ETFs on Friday: • Total: $320 million • BlackRock: $137 million • Fidelity:
COINBASE:BTCUSDShort
by Ali_PSND
BTC (Y23.P1.Video4).What are the key levels ?Hi Traders, We have reassessed our position and now looking from a bullish perspective, more so. Is this a corrective wave for another big move to the down side or is this the bottom. We give this without looking at ONCHAIN data, like Realised Losses shrinking and the short squeeze is on, many liquidated. I'm sure when the LONGS are over extended, then the shorts will come in as well. We are seeing positive sentiment, and funding rates are even when it comes to longs vs shorts. All the best, S.Sari
INDEX:BTCUSDLong
by ssari
2
THE Sandbox (SAND) In Accumulation Again SAND has had an amazing pump and interestingly most of the price recognition is occurring at $2.65 cents since the pump. point of control is at Aside from Decentraland (MANA) The Sandbox is the premier Metaverse with many partnerships and even celebrity social recognition. Only a $2,344,562,929 Market Cap at the time writing. I believe SAND will continue to grow throughout this month. We're still in the very beginning of the gaming and metaverse trend. Especially since the Facebook announcement. Keep SAND on your radar throughout the rest of the year. Current local support at $2.50 and keep in mind we're in price discovery phase. Much peace, love, health, and wealth!
FTX:SANDUSDLong
by peacefuljustin
Bitcoin Price Analysis: October 24After recording a new all-time high on Wednesday, BTC has fallen into correction mode towards the $60K psychological support to ease out of overheated conditions. The benchmark cryptocurrency has remained in a sideways momentum between $62K and 61K for the past few days but temporarily dipped below the $60K support yesterday. That said, we expect a return to the $60K - $59K support in the coming days before posting a rebound to the $63K to $64K area. Meanwhile, our resistance levels are at $66,000, $67,000, and $68,000, and our key support levels are at $64,000, $63,000, and $62,000. Total Market Capitalization: $2.51 trillion Bitcoin Market Capitalization: $1.13 trillion Bitcoin Dominance: 45.3% Market Rank: #1
GEMINI:BTCUSDLong
by Mr_Wogbe_Alex
BITCOIN IS WHERE THE COINS AT! BTCUSDPLEASE READ BELOW! BTCUSD During my prediction, I’ve been adding words to the chart to explain my thought process. We are currently positioned where the blue box is on the screen. The blue box is the killzone point where price will take off. The red horizontal line is the previous support level where price reversed PREVIOUSLY in the market. Which a great indication that price will reverse in the blue killzone box.. if you look closely, the momentum is starting to slow down as well.
BITSTAMP:BTCUSD
by investwithk
Bitcoin - A Wyckoff Cycle Study (Update)With the resumption of the correction in the last few days, I thought it was a great time to provide an update to the previous analysis of the Wyckoff Cycle and to focus in on what appears to be Phase B of the Accumulation period. In this daily chart in the standard scale, you can see that I have adjusted the way-points of the accumulation template to fit with the price action, but I would note, that there is no timing predictability in this, as the implication is that this is the hallmark signature of market manipulation by larger money powers working to their own schedule. With that said, you can still appreciate that the price movement is still following the guidelines of the template reasonably well. - see www.wyckoffanalytics.com I have added two other features to this chart since the original posting, that I summarise for your consideration below: the Pitchfork Channel - adapted from @TradingShot, it provides an excellent guide for the previous and potentially future trading range, until there is a breakout from the channel that is; the Symmetric Triangle - defined the trading pattern for the prior period of consolidation; and the Ascending Wedge - conjecture on my part for a possible structure of price recovery [/list At this point it appears that we must fall below $30k for the Wyckoff pattern to be respected, and if you have seen my other BTC charts, you will know that I feel that this entire correction is an Elliott Wave 3-3-5 correction and that we are in the 5th wave of that final leg down, which also forecasts that BTC must (should) drop below $30k. Looking at the Fibonacci projections of this last leg down and they have not changed, but they do offer some interesting correspondences to the lines of the Pitchfork Channel that could suggest possible timings if the low is to touch on one of the lines. It will be interesting indeed, to watch how price moves after (if) it makes a lower low and at what level it drops to.
COINBASE:BTCUSDShort
by Crypto-Swing
20
🔥 FTT Channel ContinuationFTT has been trading inside this channel for over a month now. With the most recent BTC sell-off, FTT fell towards the lower support of the channel. This trade is based on the idea that the channel will hold in the near future. Obviously, this trade's success is highly correlated with Bitcoin's short term price action. In case BTC will fall further, FTT will fall through the channel. In case you are bullish on BTC, this might be a proper trade for you. Happy trading!
Long
by FieryTrading
10
Bitcoin Bulls Are Not Done! Get Ready for $60k - $66k Move But.. Bitcoin Hit $56k in real time huh? Hopefully you didn't miss this generous Val gift from Bitcoin and alts! You can feel the love Bitcoin shows when she is in the mood, the printer goes brrrraaaahhhhhh!🤣 Why do so many sound surprised? Oh yes! the Bulls season is in and far from over just yet. I know most of us expected the opposite to happen(dump🙄)as a result of the 40k rang challenge Bitcoin bulls faced during the ending of Jan, no doubt it was a rough time but the Bitcoin bulls were capable and desperate too, they were constantly leaving behind foot prints every where on the chart (the market structure of course). You see, Bitcoin love is too real for the banks to handle, so they labeled her SCAM, when its Feb? They got Served💸!! It's yet another weekend, where is bitcoin going? Let's take a closer look.... this view shows that we are already within the range of resistance(remember resistance is an area not a line)the upper trendline (sellers line) of the channel. Yes we could see some reactions from here but then the bull market structure shows that they won't let it go down that easily so they are likely to put up a good fight and if they succeed, then my white arrow pointing to $60k will get in play as they will completely destroy the sellers upper channel or if they fail😢.........Don't get emotional! my red arrow down will get in play, and we will see a pull back to $54k to $50k range but the pump will most likely continues afterwards as this will only serve as a retest of last broken resistance. Let's now look at the candles currently formations on higher timeframe (weekly chart) for back up confirmation of what to expect during the week of next week. Do you see the similarities in the three white soldiers formed at the beginning of each breakout since the start of this bul trend? this simply shows me that bitcoin will see one more green bg week at least before a strong pullback occur just like in the last previous two waves after sideways breakout. but after this Bitcoin could face a very strong pullback (this is the last move I see before the pull back dump to 20k to retest the Monthly breakout )
by MachiavelliTrader
2
🔥 COMP/BTC Bullish Trend OpportunityCOMP is one of the crypto's which is been absolutely killing it in the last couple of weeks, especially the USDT pair. However, the BTC pair has been lagging behind a bit. With today's decline there's appeared a good long opportunity on the COMP/BTC pair. As I'm seeing it, today's decline is merely some of the larger investors taking profits without interfering in the overall trend. On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence. Happy trading!
Long
by FieryTrading
18
Is BTC forming a huge channel? What will price do?BTC seems to be forming a huge upward channel. This is more evident on the weekly charts. If this is correct, then we are currently testing the upper bands. Will price be able to break through the channel? or will it go down? There are two possible scenarios if a channel is true. Scenario A - we consolidate a bit and pierce through the upper channel bands, reaching for higher highs and higher ATHs... Scenario B - we fail to break resistance and plunge back down to the middle of the channel - reaching for the 16k zone... Time will tell
COINBASE:BTCUSD
by Guzardus