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BTC Bullish Pattern on Oct 1st, 2023We can see a falling wedge pattern in daily chart. This is a bullish pattern for few days. 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.
INDEX:BTCUSDLong
by rukshan2102
1
Ten Reasons BTC Sould Hit $155k - $210k This Market Cycle But...Here's my revised "Potential Path To $150k+" chart, adding in 3 new factors that further point to the higher Fibonacci targets on this chart and potentially hitting $220k Bitcoin. As the 3.618 accurately predicted the exact market cycle top in 2021 (drawn from the 2018 Hi / Low cycle)... The same scenario could play out for the 2024 bull cycle, with each of these TEN factors potentially 'igniting' the other smoldering 'fires' into a giant bullish blaze. Kind of like a good ol California forest fire. When the smaller fires meet, the blaze begins. The following TEN factors show 3 potential levels for Bitcoin upside in 2024, which I've labeled as 3 scenarios described in more detail below (Likely, Probably and Possible). 1. BlackRock & Fidelity ETF's Approval - (Slated for this week by January 10th - 95% chance)). 2. QE Money Printing To Pay Down US Debt - (The US rising debt levels require easing soon). 3. Bank Failures, Bank Runs & Transfer Into BTC - (More bank failures are likely. BTFP ending). 4. Hyperinflation & De-Dollarization (BRICS) - (We haven't seen effects yet, but still brewing). 5. Corporate Accumulation - MSTR / Apple /Tesla - (MSTR raising 750M Common Stock for BTC). 6. Country Accumulation (New Reserve Currency) - (More will follow El Salvador this cycle). 7. Post-Halving Less Bitcoin Miner Selling ($12B) - (Miners will have less to sell > 2024 halving). 8. Less Available BTC On Exchanges - (More retail wallets will creasing demand / supply shock). 9. Increasing Political Support For Bitcoin - (Politicians joining the narrative will push in favor). 10. Bursting of the Sovereign Debt Bubble - ($35T of COVID money globally straining global economies). Any ONE of these and likely the ETF approvals could and will be the needed 'spark' that ignites this Bitcoin forest fire, which will never be put out and only grow. I've broken these down into 3 scenarios... Likely Target ($100k) - Bitcoin was widely 'expected' to hit $100k in the last cycle, and the math supports the reasons why. With $20T+ in investable assets in Gold + Silver + US Real Estate in 2023, just 10% of this moved over to Bitcoin gives BTC a $2T market cap alone. It's also the 1.618 Fib target for the next cycle as shown. Probable Target ($155k) - Looking at the bars pattern from the Oct 19th 2020 breakout, we can see a rapid rise in Bitcoin followed, driving price up to the April 2021 initial high for BTC. This also coincides with the 2.618 Fibonacci target on the charts. Possible Target ($210k) - Again looking at the last cycle drop starting in Dec 2017, to the low in Dec 2018, the 3.618 Fib target was exactly where the peak around 64K in April 2021. Many believe this to be true 'high' although later we had a Wyckoff 'Thrust' higher to $69k. In the near term, the bars patterns also shows confluence for a pause right at the Fib Golden Pocket between 48K and $50k. Since round numbers act as market magnets, I feel $50k is the next push higher before a meaningful profit taking pullback. Also notable is the 21 week MA which has been an excellent support / resistance barometer over the years, and price has just firmly broken above that in recent weeks. So this is looking very bullish to me here, and I'm expecting we go higher... Time will tell if one or more of these scenarios come to pass! But I've also added 3 potential negative scenarios (and may add a 4th) which may pour water on this fire from the start, and are unknowns worth noting. 1. It's the First Ever Macro Global Recession for Bitcoin (Could a US recession drag this down?) 2. Still Small Possibility of ETF Delay or Not Approved Yet (This would cause a massive sell-off) 3. Spot ETF's May Mark a Market Top Like in Previous Cycles (No way to know the ETF effect). And here's a notiable #4 not yet on the chart... 4. Issues With BTFP Expiration Causing Bank Failures (Forcing the Fed to start dropping rates). When the Fed actually starts Dropping Rates, markets usually go down initially... See the excellent article Arthur Hays recently put out detailing this scenario. What do you think will happen this week and into the Halving??
COINBASE:BTCUSDLong
by BrettFogle
4
SEC's Jan 10th BTC ETF deadline ("buy the rumor, sell the news")The adage "buy the rumor and sell the news" might apply to Bitcoin with BlackRock and Fidelity’s potential Bitcoin ETF approval on the horizon. In the event that the SEC denies the ETFs, market participants might eye downside targets below $41,500 and $41,250 if we get a wild swing to the downside. Conversely, approval from the SEC may pave the way for an immediate targets of $48,250 and $48,700, with a sustained bullish sentiment propelling trading into the 50-55K zone. However, lingering questions persist about the market's reaction, raising the possibility of countering recent optimism and lending credence to the "sell the news" adage. Bloomberg reports suggest that approval for Bitcoin Spot ETFs could materialize as early as this week, with the SEC's decision deadline set for January 10. Insiders speculate that the regulator might leverage this deadline to announce decisions on nearly a dozen Spot Bitcoin ETF applications simultaneously, including those by BlackRock and Fidelity.
BLACKBULL:BTCUSD
by BlackBull_Markets
BTC Bitcoin Potential ETF approval this week Some of the biggest asset managers on the entire planet are going to release a BTC ETF: Blackrock $9.3 Trillion Fidelity $4.5 Trillion Franklin Templeton $1.53 trillion Invesco $1.5 Trillion. BlackRock expects Bitcoin ETF approval on Wednesday, in-line with Bloomberg's January 10 deadline. I expect the approval to a buy the rumor, sell the news event. Employing the strategy of "buy the rumor, sell the news," traders strategically capitalize on market movements by entering positions based on speculative information. This approach involves opening positions on rumors and closing them when the anticipated news is officially announced, typically resulting in a profit. However, a retracement, probably to FWB:36K , would be a buying opportunity for a year-end rally, in my opinion.
by TopgOptions
1
Bruh! The SEC's is Cap! Let Bitcoin be great.Yo, for real! SEC's on that cap game, ain't no denying. They talk big, but we know it's just a front. Gotta keep our eyes peeled for what's really goin' down in these financial streets, bruh! On some real talk, let Bitcoin do its thing, but how it moves in the next few moves is crucial. Stay on point, no need for catchin' up if you stay ready. That's just how the game flows, my bad, but you know we gotta stay sharp to roll with the young ones. As a Washington, D.C. native, I have closely observed the gradual and deliberate turning of the wheels of the political bus. Progressing at a pace that gently murmurs 'slow, slow, slow,' this rhythm resonates profoundly among those who consider this city their home. It is noteworthy that the SEC is slated to render a decision on the spot Bitcoin ETF proposal put forth by ARK Invest and 21Shares on January 10. Vigilance is advised, anticipating a potential surge in volatility post the SEC's disclosure. Maintain stringent adherence to risk management protocols, uphold trading regulations, and safeguard against emotional influences. Wishing you the best of luck until our next update.
CRYPTO:BTCUSD
by Districtfx
BTCUSDT.3HBased on the provided market data, the current price of Bitcoin (BTC) is around $44,021. The Relative Strength Index (RSI) for the 4-hour, 1-day, and 7-day periods are 54.49, 58.83, and 82.46 respectively. The Moving Average Convergence Divergence (MACD) for the same periods are -20.68, 709.42, and 4194.00 respectively. The RSI values indicate that Bitcoin is neither overbought nor oversold in the short term (4-hour and 1-day), but it may be considered overbought in the longer term (7-day). The MACD values indicate a bearish trend in the short term (4-hour) but a bullish trend in the medium and long term (1-day and 7-day). The price is currently below the Bollinger Band (BB) for all three periods, which could suggest that the price is relatively low, though this alone should not be used to predict future price movements. The support levels, which represent potential 'floors' in the price, are at $42,081 (4-hour), $41,300 (1-day), and $40,200 (7-day). The resistance levels, or potential 'ceilings', are at $44,748 (4-hour), $45,950 (1-day), and $48,400 (7-day). These levels can be used to identify potential entry and exit points for trading. In conclusion, the market data suggests a mixed picture for Bitcoin. While the RSI and MACD suggest that Bitcoin may be overbought in the longer term, the BB and current price suggest that it may be undervalued in the short term. Furthermore, the support and resistance levels suggest that there may be opportunities for both buying and selling. Therefore, a potential strategy could be to buy Bitcoin if it dips towards the support levels, and sell if it rises towards the resistance levels. Of course, this analysis should be combined with other forms of analysis and individual risk tolerance before making any investment decisions.
by MarsSignals
BTC Bitcoin ETF "buy the rumor, sell the news"BTC Bitcoin Price fell today amid speculation of ETF rejection. Employing the strategy of "buy the rumor, sell the news," traders strategically capitalize on market movements by entering positions based on speculative information. This approach involves opening positions on rumors and closing them when the anticipated news is officially announced, typically resulting in a profit. However, it's crucial to note that this strategy is often driven by the fear of missing out (FOMO). The surge in buying activity prior to the news can lead to heightened selling pressure from market participants once the news is confirmed. Consequently, the price of the asset is susceptible to a decline as traders liquidate their positions, emphasizing the speculative nature of such market dynamics. My price target for BTC is about FWB:36K in this situation.
Short
by TopgOptions
1
3 Strong Reasons Why Today's Bitcoin Crash Was Predictable1. The previous monthly candle failed to close above the monthly ichimoku cloud. It is natural that it is very difficult to braek out the monthly kumo cloud. The price of Bitcoin had reached the ceiling of the ascending channel, where it was accompanied by a SHORT signal. Last week, in Daily timeframe the trendline had broken down, and yesterday the pullback was completed, and today it went down to the top of the komo cloud.
Short
by Bullishway1
5
🚀 #Bitcoin ETF Roadmap, $54k by January End??🚀 Our last 3 Roadmap charts have been spot-on and quite viral too, Thanks for your support so far! Let's get back to the chart! Analyzing the current market conditions, We're still on track to reach the top of the 5th wave, expected to be in the $47,000 to $54,000 range. Following that, we anticipate an ABC correction. This upcoming move will essentially confirm the accuracy of our Elliott Wave Theory, which has accurately predicted each wave precisely over the past two months. Other technical rationale behind this projection: 1. Fractals: Examination of fractal patterns on the charts reveals similar PA during the last 5 months before the halving! (Charts will be posted soon) 2. Multiple Indicators: Various technical indicators align, emphasizing the bullish sentiment including much anticipated ETF News! 3. Elliot Wave Theory: So far every single wave has been on track, the 5th wave will complete our 2-month-long EW Wave. Anticipate this movement within the coming week, but it's crucial to remain prepared for potential market shifts. Invalidation point: A close below $41,200 could signal a deviation from the anticipated trend. If you find this chart useful, please consider giving it a thumbs up and sharing it. Feel free to bookmark it to stay informed about any market shifts. DYOR, NFA Thank you PEACE
BINANCE:BTCUSDLong
by Cryptorphic
1
Bitcoin's key breakout levels and what's next! Jan 2nd 2024 Bitcoin just broke the key resistance level of the mid 44k's establishing a new high of 21 month since April 2022. The red circles on the chart indicate key breakout levels. 1) June 2023 the price rose above 26,800 with a daily candle close. 2) October 2023 the price rose above 31,400 with a daily candle close. 3) Jan 2024 the price rose above 44,700 with a daily candle close. The levels are key due to multiple tests to break above which failed every time, indicating price resistance. Once a resistance level is passed, the market searches for a new resistance. Next key technical levels to pass are - 45,800 50,800 54,400 The levels are based on horizontal support/resistance levels stretching back close to 2 years. Long-term connecting highs and lows show higher highs and higher lows since Jan 2023, With Bitcoin rising about 250% in the year passed. RSI shows the price action far from overbought and MACD shows convergence and momentum shift to upside that's fresh - Both indicators show clear "buy" signals as well as the technical breakout above 44,700. Speculations are that multiple BTC ETF's will be approved by SEC today. --------------------------------------------------------------------------------------------------- Do your own research! Trade with caution especially when trading leveraged products! This is not advice. This is pure market speculation. Thank you and happy new year everybody :)
BITSTAMP:BTCUSD
by Exactus
1
Important weekly update on Bitcoin.Hello folks, As we approach the end of 2023, and with the new year 2024 on the horizon, let's simplify our weekly chart discussion, focusing on key topics. 1. The Bitcoin Spot ETF: Amid the anticipation of traditional institutions entering crypto, concerns are widespread. A positive outcome from the ETF could propel a quick move toward FWB:52K , followed by a potential rejection. 2. The game of S&R (Support and Resistance): BTC has established a robust S&R range between $30k and $47k. While $47k hasn't been reached yet, a new resistance has formed at $44k in a lower timeframe. 3. The Correction: Despite expectations of a correction since October, BTC hasn't shown one. Eyes are on the $30k support for a potential final drop. 4. The RSI: Already in the overbought zone, signaling a potential major correction soon. Strategy: i) Keep the majority of your portfolio in USDT. ii) Consider selling 50% of BTC holdings only if it reaches FWB:52K ; otherwise, wait for accumulation. iii) Utilize leverage and futures trading with 10% of the entire portfolio. iv) Exit any recently acquired spot holdings. Conclusion: BTC may still have room to reach the $47k resistance level, especially with the potential positive impact of the BTC Spot ETF approval. Trade safely. Regards, Team Dexter.
INDEX:BTCUSD
by Dexter_The_Trader
Are you sure you want to long Bitcoin?I am in holidays and i will be back mid January, but i see lot of people that are entering long on BTC. On major timeframe (H4 and Daily) it has lost an important trendline. We can see it has also retested it and it started to drop. As soon as mid-term support will be lost (41.400) the fear will come and the price will drop fast and hard till $35.000 at least. I am not spreading fear, i am bullish long term on Bitcoin, i just think we will have a better chance to buy it lower.
Short
by SaliJournal
4
#BTC/USDT Will Bears take over?#BTC is currently trading around the $42.6k level, with the 100-day moving average (100 MA) acting as support. Breaking below this level could lead us to the $40,222 level, which is the lower support for Bitcoin. I anticipate a bounce from the same level. Keep an eye on the 100-day moving average for the next few 4-hour closes. Ensure you book profits on your leverage positions. For spot, I am just holding my positions. Do hit the like button if you like my content. hope you are riding the alts I've recommended earlier in my charts. DYOR, NFA #PEACE
by Cryptorphic
2
BTC Macro Cup & Handle Forming w/Golden Pocket Breakout?Bitcoin rejected at the $45.5k level as we forecast in prior weeks live classes and we can see the sell order block at this level as well. Right now it looks like BTC is forming a macro cup & handle pattern, which would be a good thing here -- for Bitcoin to retest recent support (the handle) and then bounce off of this. I'm targeting the FWB:48K - $50k level as the next resistance level before heading higher (which is the macro Fib Golden Pocket retracement zone). The next buy order blocks are around $38k but the likely support levels are the 21 and 50 week EMA's around $30k and $35k respectively. Hard to say what happens next, with all eyes on the BlackRock and other ETF expected approvals. If for any reason ETF's are NOT approved 1st week of January, we could see a 50% drop and the Bitcoin CME gap potentially filled around $20k and as a final shakeout of retail investors.
COINBASE:BTCUSDShort
by BrettFogle