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Bitcoin establishes new support level around previous ATH closeMany people have been losing sleep over the Bitcoin price action so I wanted to provide some technical analysis to show where we're possibly headed. I have a theory with data to back it up. If history repeats itself I believe Bitcoin has established a new baseline support level around $55k. If you take a look at the Bitcoin chart on an 8-week time interval going all the way back to 2015, you can see every new all time high has a similar period of around 3 years of retracing back to the same level, before breaking through it again. Then after breaking the previous all time high, a new support level is established and price doesn't drop below the newly established support level. On this 8-week chart the previous all time high candle didn't close above $55k in August 2021. So, we have had almost 3 years of retracing back to this level and finally broke through it in Feb 2024. If my theory is true and history repeats itself, I don't believe we will see Bitcoin fall below $55k as this has become the new baseline support level. *Of course, I could be wrong. Just a theory, not financial advice.
COINBASE:BTCUSDLong
by joyfuldad
1
#BTC/USDT Broke the support, Next move explained!Welcome to this Idea on Bitcoin. As speculated in my previous update, the price was unable to break the 100 EMA, resulting in a rejection and subsequent decline. Now, $56,452 appears to be the next significant level to monitor. The 200 SMA on the daily chart is also crucial, with the price currently trading around this level. Let's observe if this support holds. It's important that funds currently in meme coins shift to stronger assets, as they are siphoning liquidity from the market. Patience is key here. I've posted over 30 altcoin charts in the last 8 days, and prices are gradually moving towards accumulation levels. If this cycle mirrors previous ones, the current market depression will soon end. We just need to stay vigilant and look for opportunities. **BONUS:** Use the 245 EMA to plot market bottoms on lower time frames (LTF) in the daily chart. It's very useful—try some backtesting. If you like my content, please hit the like button and share your views in the comments section. Thank you. #PEACE
by Cryptorphic
3
BITCOIN ( UNDER BULLISH PRESSURE ) ( 4H )BITCOIN HELLO TRADER S Tendency the price it will trying to reach a resistance trendline , indicates the price is under bullish pressure TREDN ANALYSIS : yesterday the price closer resistance trendline after dropping to closer support trendline , today the price it will trying again to reach resistance trendline TURNING LEVEL : a black line around 58,985 , indicates if the price stabilizing above this level reach resistance level , if the breaking turning level reach a support level RESISTANCE LEVEL : there is a blue line around 62,475 , indicates selling have already increase this level , so if the price stable above turning level reach this level SUPPORT LEVEL : there is a red line below turning level around 57,363, indicates buying have already increase this level , so if the price breaking turning level reach this level PRICE MOVEMENT : as long as the price trade above turning level at 58,985 , reach a resistance level at 62,475 , then stable this level reach a 64,136 , if the price breaking turning level reach a support level at 57,363 , then stable below this level touch a 55,767 TARGET LEVEL : RESISTANCE LEVEL : 62,475 , 64,136 SUPPORT LEVEL : 57,363 , 55,767
BITSTAMP:BTCUSDLong
by ArinaKarayi
#BTC/USDT Critical point. Emergency Update!#BTC needs to break and close above the 100EMA on the daily chart. Keeping it straightforward: until this occurs, the price may target the liquidity below $60k. This is not an opinion, just what the charts indicate! The rejection in altcoins is concerning. While I'm not bearish, BTC is currently at a critical juncture. This is the right time for the bulls to step in! This indicator has been highly effective in identifying local bottoms and tops. Sooner or later, the market will rally for the final wave. Until that happens, be cautious with leverage and view these times as opportunistic for altcoins. dyor, nfa #Crypto Do hit the like button and share your views in the comments section. Thank you #PEACE
by Cryptorphic
BITCOIN Outlook for Q3 2024Hello everyone, Today is the beginning of the new fiscal quarter, so as usual that means Q3 outlook is here. I already know that with this one, I will most likely not make any new friends, but things have to be said even if the majority may be against "the Idea". So first, I would point out that my Base Case from Q2 is still relevant in my opinion : " My Base Expectation for now is that this MAY(June/Q2), MAY be the worst time to become a Buyer/Bull for a prolonged period of time as we potentially already reached our TOP. That is because, as I mentioned in Q1 outlook: "6. - !!! New REAL Bullmarket didn't Start until Interest Rates reached their bottom rate !!! Note, this time can be different due to inflation & elevated price levels, which cause more money in rotation, but IT SHOULD NOT change base line of reverse expectations when the correct time comes - 1.FED start cutting, 2.FED stop (is DONE) with cutting, 3.bottom Rate is found" " ______________________________________________________________________________ Secondly- Yes, my outlook is Based on Macroeconomy, since I am of the opinion that the Economy and decisions of Central Banks are closely correlated to the charts and prices on them. With that said, I am going to present a few charts which may bring some clarity to what I am expecting to happen in the next 3 months and Why I am NOT over-optimistic . Before I start posting these screens, I would like to say, that I believe we are in incredibly tough times to call shorts where price will go since we are in kind of unprecedented times - both chart-wise and macroeconomy-wise kinda too. So Why I am still more Bearish? These are just a few examples of Why I am still more bearish.. I am sure that I could add some more, but at this point my "reasons Why" should be clear to everyone and if not, I would suggest you read the Q1 & Q2 outlook too. Also, I would like to mention that this week we will get a lot of economic data which may provide a clearer view of what is coming next month/quarter. Anyway, I decided to do this TODAY so I am working with what we have "RIGHT NOW". If my opinion changes in the future based on these data I will let you know. As well, to not be viewed as "perma BEAR", I want to say, that I see possibility that BITCOIN keep going Higher in Q3 and reach new ATHs ( all economic data comes "bullish" and FED still not decided to cut rates), BUT it is not my Base Case for now. My Base Case as I said - staying the same as was in Q2, at least for now! Until next time good luck to everyone. Joe ________________________________________________________________________________ Hopefully, some of you found this post interesting and helpful in further market navigation. If YES, please consider liking or sharing this post, it would mean a lot to me. Thanks!
INDEX:BTCUSD
by cryptocapitaltrading
Is Bitcoin set for rebound?Over the past week, Bitcoin’s (BTC) price dropped below the $60,000 mark on two separate occasions, which was accompanied by a slight increase in the reserves held by exchanges.  Interestingly, alongside the increase in BTC on exchanges, there was a significant uptick in the creation of new addresses. On the 24th of June, BTC experienced a notable drop of 4.60%, with the day’s trading closing at approximately $60,263.  Despite this close, the price had dipped as low as $58,411 during the day. Similarly, on the 28th of June, BTC’s price again tested lower levels.  It declined to $59,868, and closed at around $60,313, marking a decline of over 2%. As of this writing, BTC was trading at around $63,215, showing a modest increase of less than 1%. The Relative Strength Index (RSI), a key indicator of price momentum, was around 43.  This suggested that BTC was in a strong bear trend.  The move might thus precede a potential price rebound. This week’s price movements have had an impact on broader market dynamics as well, including the creation of new Bitcoin addresses and changes in exchange reserves.  Typically, significant price declines can trigger increased activity on exchanges as traders move BTC to sell or buy at perceived key levels.  Also, new addresses may be created as new or existing participants enter the market to capitalize on the volatility.  Such a significant rise often reflects broader market movements or sentiment shifts, which could have various implications for BTC’s network activity and price dynamics.
WHITEBIT:BTCUSD
by paul_endeo
Bitcoin Dominance at key levelBitcoing dominance at a critical level now. If BTC.D break upper line with weekly candle, BTC will pump more and BTC will make a new ATH in 2024. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CRYPTOCAP:BTC.D
by rukshan2102
1
Bitcoin Halving: A Historical Look at Price and ScarcityThe Bitcoin halving cycle, a programmed event that roughly cuts the block reward for miners in half every four years, has become a focal point for investors and enthusiasts alike. Historically, these halvings have been followed by significant price increases for Bitcoin, leading many to believe they are a reliable indicator of future bull runs. However, the relationship between halvings and price is more nuanced than a simple cause-and-effect scenario. The core principle behind the price impact lies in scarcity. By reducing the rate at which new Bitcoins are created, halvings limit the overall supply. In a market driven by supply and demand, a decrease in supply can theoretically lead to an increase in price, as long as demand remains steady or increases. This anticipation of scarcity often fuels a price rise in the months leading up to the halving event. Investors see the limited supply as a bullish signal, prompting them to buy Bitcoin in hopes of future appreciation. However, the price doesn't always experience an immediate surge after the halving. The newly minted Bitcoins are a significant reward for miners, who contribute computing power to validate transactions on the Bitcoin network. The halving essentially cuts their income in half, which can lead to a temporary decline in mining activity, impacting the network's hashrate (total computing power). This initial drop in hashrate can cause a period of price consolidation, where the price trades sideways as the market adjusts to the new supply dynamics. The recovery from this consolidation phase is often described as "weak miners dying and hashrate recovering." Less efficient miners, who can no longer operate profitably with the reduced rewards, are forced to shut down their operations. This reduces the overall hashrate and makes the network more efficient as only the most powerful miners remain. As the hashrate recovers, typically within a few weeks or months, the price can experience a significant breakout, fueled by both the scarcity effect and renewed investor confidence. Looking at historical data, this pattern seems to hold true. Following the 2012 halving, the price of Bitcoin rose from around $11 to a peak of $1,100 in November 2013. Similarly, the 2016 halving was followed by a rise from $650 to nearly $20,000 by December 2017. The 2020 halving coincided with a bull run that saw Bitcoin reach an all-time high of over $69,000 in 2021. However, it's important to remember that these are just a few data points, and the cryptocurrency market is notoriously volatile. External factors such as economic conditions, regulatory changes, and broader market sentiment can also significantly impact Bitcoin's price. The most recent halving, which occurred in April 2024, presents an interesting case study. While the price did experience some pre-halving anticipation, it hasn't yet reached a new all-time high. Additionally, the hashrate recovery has been slower than in previous cycles, taking over 60 days compared to the 24 days observed in 2017. This could be due to a number of factors, including the ongoing global economic uncertainty and the increasing energy costs associated with Bitcoin mining. Only time will tell how the 2024 halving will ultimately impact the price of Bitcoin. However, by understanding the historical trends and the underlying economic principles at play, investors can make more informed decisions about their Bitcoin holdings. The halving cycle serves as a reminder that scarcity can be a powerful driver of price, but it's just one piece of the complex puzzle that shapes Bitcoin's value.
BITSTAMP:BTCUSDShort
by bryandowningqln
BITCOIN ( BULLISH ) ( 4H )BITCOIN HELLO TRADERS TODAY, the price stable turning level , price of the bitcoin will attempt to touch a support trendline Tendency the price is a bullish pressure in 60,195 TURNING LEVEL : the price turning level at 60,195 , price braking below this level it becomes reach a support level , but if stable above this level active bullish area RESISTANCE LEVEL: if the price stable above turning level at 60,195 , the price will rise to 62,677 and 64,089 , stable this level reach to 66,529 SUPPORT LEVEL : the price breaking turning level 60,979 , it will reach the support level of 57,390, stable this level reach to 55,740 CORRECTIVE LEVEL : price will 60,195 , correct itself before long ------------------------------ * Thank you , if you support this idea with your likes and comments , I hope you a profitable day🤍🤍🤍🤍🤍
BITSTAMP:BTCUSDLong
by ArinaKarayi
#Bitcoin Urgent Update!#Bitcoin just hit the yellow box, validating this chart with 100% accuracy. Lesson: Charts don't lie! $60k is a crucial support level, but there's significant liquidity around the $57k mark. I've been cautioning against leveraged trading for weeks. If you've dabbled in it, you know the struggle—pain and depression are part of every cycle. The market often reverses right after you give up on your altcoin bags and close leverage positions at a loss. It's a recurring pattern. So, I've been advising to stay away from leverage. Even my altcoin holdings are down, and I'm not buying yet. When I do, you'll be the first to know. Follow for more updates and don't forget to hit the like button if you find my insights valuable. Thank you. Stay strong. WAGMI #Crypto
by Cryptorphic
4
Bitcoin Entering A Large Demand Zone- Bounce or Break Down?Hey everyone! It's been a while since I have posted some technical analysis as I have been taking a bit of a break from the markets. But now I am back in the game, it's time to get back to some good ole charting! So now that I am back on that BTC trading grind, it's time to get back to some TA posts. Bitcoin has been getting pretty hammered for a while at this point. BTC's price is hitting into a large demand zone in the 58K-60K range. We haven't broken the 60K price range yet, and we are showing some oversold conditions with momentum pretty much in the toilet. The next big demand zone below where we are now is in the 40K range, but I highly doubt that we will break down that low. It's absolutely possible though, so if I were you, I would be safe guarding my stacks until we know for sure, but of course, this is not financial advice. My play is to day trade futures and then stack some cheaper on-chain BTC while the prices are low and lowering average DCA price. I will keep stacking like this until we break above 74K, then I will hold what I have until we top out for the cycle and trade into stablecoins to ride the wave down. Be watching for a bounce at or around this level, it could be a good chance to go long and make some good profits. Of course on the flip side, we need to be watching for a break down below this zone. If that happens, I am going to be looking at 40K for the next stop as there really isn't much market support below the level we are in now. Do you think the Wall Street players and their ETFs will let Bitcoin go below 58K? Would love to know your thoughts in the comments!
COINBASE:BTCUSD
by thelogicaldude
Bitcoin Market Update - June 24, 2024Bitcoin's Weekly Candle closed bearish, opening at $66,676.88 and closing at $63,210.01 - a decline of -5.20%. This is Bitcoin's second negative close in a row. Bitcoin Weekly Chart w/ Indicators Volume Profile Analysis shows that Bitcoin has reached the bottom zone of the High-Volume Node we have been ranging in since achieving a new All-Time High in March. A Low-Volume Node lies below us, stretching from approximately $60,823 to $52,581. As we have seen many times, price moves quickly through Low-Volume Nodes to seek liquidity in High-Volume Nodes. Thus, a descent into the LVN would shatter any expectations of support until the $52,000 zone. There are small bumps within the Volume Profile, giving potential Take Profit Targets for short positions or potential bounce zones for quick counter-trend Longs at $59,210 and $57,025. Price is currently testing the Weekly 21EMA, which served as Support on our last encounter with it the week of April 29th. Following that test, Bitcoin was able to rally approximately 27% to form a higher low within the range. The Weekly Volume Delta Indicator also shows that while Sell Volume has been and is still dominant, that Delta is decreasing, meaning that Buys were more prominent last week than the week prior. With a fresh weekly candle, this is a metric I will watch closely to gauge the potential for a reversal in price. Bitcoin 3D Chart Bitcoin's 3D chart gives us more clarity. Volume Delta has increased over the last three candles, culminating with the highest sell pressure we've seen in over a week. This occurs as we test the 3D 55EMA, which similar to the Weekly 21EMA, resulted in a 27% bounce the last time we came close. 3D Time Transformation is very close to the oversold level, and we are lower than the last registered low of TT on this timeframe back in January of 2024, which was the bottom of the Opening Year Slump. High sell volume coming into an area of Support often results in temporary reversal of price. Bitcoin Daily Chart The Daily Chart shows us in very close proximity to the 200 DEMA, a level that has not been tested at all this Bull Run. Volume Delta shows overwhelming sell pressure that we have not seen since the last "bottom" on May 01 of this year, which again, resulted in a 27% bounce. Time Transformation is oversold to a degree that we have not seen since the previous Market Cycle Bottom in August of 2023. Bitcoin 4H Chart Moving down to the 4H Chart, relevant points are that Time Transformation is oversold, and the previous 4H candle registered such high sell volume that we haven't seen since June 07, which was the Bearish Engulfing candle that began this current downwards trend. Tether Dominance Chart Moving to USDT Dominance, we can see that on the Weekly Chart, USDT Dominance is in the process of confirming a Double-Bottom (higher low) or W Pattern, if this Weekly Candle closes at the same price of higher, that will be a successful close above the neckline, and potentially a close back above the 200 WEMA as well. This successful completion would move USDT Dominance back up to 6.0-6.5% of the total crypto market cap, and serve as a much broader warning for a more-pronounced market correction. Bitcoin Exchange Flow cdn.prod.website-files.com Looking at Exchange Flow, we can see that last week Exchange Inflows dominated, however they decreased in strength as the downtrend progressed. Saturday witnessed a net outflow of Bitcoin, and Sunday saw a very mild inflow of Bitcoin to exchanges. Bitcoin Miner Net Position Change cdn.prod.website-files.com Miners are still selling, however they have begun to decrease their selling volume. This trend has historically led to short-term reversals in Bitcoin's price. Bitcoin HODLer Cohort Net Position Change cdn.prod.website-files.com The HODLer cohort is also selling, and this trend has not slowed. Conclusion In conclusion, although short-term price action indicates we have reached an important level of support where selling pressure seems to have reached a climax, there is insufficient buying pressure from the HODLer cohort or clear signs of bullish conviction to justify spot entries into Bitcoin at this point. Investors should continue to sit in cash, and await more lucrative buying opportunities, and traders should wait for more clear signs of a potential reversal before entering long positions.
CRYPTOCAP:USDT.D
by CrackingCryptocurrency
BTC retested main suport zone hello dear trader and investor CRYPTOCAP:BTC is currently at $61k Sitting at the lower end of its range If you haven't noticed It has been trading within a range for a while now This is known as consolidation. The top of this range is FWB:73K While the bottom is $60k my price action on this chart say : bitcoin retest supourt area and now ready for next move... my prediction on this chart 90,000 $ is next station ??? stop loss need for any position good luck mehdi
Long
by mehdi_kb
[LONG] Reputable news sites say BTC is 7 days away from going up**Technical Analysis: Bitcoin (BTC) Daily Chart** **Current Market Situation:** Bitcoin (BTC) is currently trading at a critical support level, with the daily chart indicating a high likelihood of a reversal in the near term. The Relative Strength Index (RSI) is hovering around 30, signaling that the cryptocurrency is approaching oversold territory. **Oversold Conditions:** The RSI, a popular technical indicator, measures the speed and change of price movements. A reading below 30 typically indicates that the asset is oversold, suggesting a potential rebound. With BTC's RSI hovering around this level, it's likely that the selling pressure will soon subside, paving the way for a potential rally. **Support Level:** The last lowest support level was $59,000. This level has been tested on multiple occasions, and a bounce from this $63,100 could propel the cryptocurrency higher. **Bullish Sentiment:** Reputable news websites are reporting that a BTC price surge is imminent, with some sources suggesting that the cryptocurrency is just 7 days away from a significant upward move. This bullish sentiment, combined with the oversold conditions on the daily chart, creates a compelling argument for buying BTC at current levels. **Buying Opportunity:** Given the confluence of oversold conditions, support at $63,100, and bullish sentiment, now is an attractive time to consider buying BTC. The cryptocurrency's price is likely to rebound from this level, and with the next potential low already established at $59,000, the risk-reward ratio is skewed in favor of buyers. **Conclusion:** In conclusion, the technical analysis suggests that BTC is on the cusp of a potential reversal, with oversold conditions and a robust support level at $59,000. The bullish sentiment and imminent price surge reported by reputable news sources further reinforce the case for buying BTC at current levels. With the stars aligning in favor of a potential rally, now may be an opportune time to enter the market.
Long
by Henrywaters
94K Bitcoin ?Looks like bitcoin is retesting the weekly bull flag structure right now. And this week it has touched Weekly, Daily, and 4 Hours support of the flag structure. This week BTC close above 64k will be good confirmation of the structure. And next week we might see a pullback to retest current lows and if the bulls take control and break the current channel at daily and H4 level. Then we could see the bull run to continue and reach the height of the flag poll around 94K. Always analyze BTC and take trades on every other crypto as well. Everything follows BTC.
PYTH:BTCUSDLong
by Shaappe
2
94K Bitcoin ?Looks like bitcoin is retesting the weekly bull flag structure right now. And this week it has touched Weekly, Daily, and 4 Hours support of the flag structure. This week BTC close above 64k will be good confirmation of the structure. And next week we might see a pullback to retest current lows and if the bulls take control and break the current channel at daily and H4 level. Then we could see the bull run to continue and reach the height of the flag poll around 94K. Always analyze BTC and take trades on every other crypto as well. Everything follows BTC.
PYTH:BTCUSDLong
by Shaappe