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Bitcoin Dominance: A Key Indicator for Altcoin SeasonIn the intricate world of cryptocurrency, where trends shift rapidly and market dynamics are ever-evolving, Bitcoin dominance stands as a critical metric, offering insights into the broader sentiment and capital flow within the digital asset space. Recently, the narrative surrounding Bitcoin's dominance has taken a noteworthy turn, stirring discussions about potential shifts in market behavior and the rise of alternative cryptocurrencies, or altcoins. Since September 2022, Bitcoin dominance has been on a journey, reflecting both the resilience of the pioneer cryptocurrency and the growing interest in alternative digital assets. However, recent developments have caught the attention of traders and analysts alike, as Bitcoin dominance breaks free from its bullish channel, signaling potential changes on the horizon. The significance of Bitcoin dominance extends beyond mere numerical value; it serves as a barometer for investor sentiment and market trends. When Bitcoin dominance decreases, it often indicates a redistribution of capital within the cryptocurrency market, with funds flowing towards altcoins. This phenomenon, often referred to as "altcoin season," is characterized by heightened activity and enthusiasm surrounding alternative cryptocurrencies. As Bitcoin dominance breaks away from its bullish channel, traders are closely monitoring key support and resistance levels, seeking clues about the market's direction. Currently, the market is retesting old major support levels, forming a distinct range that could offer valuable insights into future price movements. At present, the focus lies on testing the upper boundary of this range to gauge potential resistance. Should the market experience a rejection near the red old support zone, it could serve as an additional signal of Bitcoin's waning dominance and the increasing appeal of altcoins to investors. The implications of these developments are significant, as they could herald a shift in market dynamics and trading strategies. Traders and investors are keenly observing the charts, recognizing the potential for a turning point in the market's trajectory. While Bitcoin remains the undisputed leader of the cryptocurrency space, its dominance is not static, and fluctuations in this metric can offer valuable insights into evolving market trends. The current scenario underscores the growing diversity within the cryptocurrency landscape, with altcoins emerging as formidable contenders for investor attention and capital allocation. As Bitcoin dominance continues to navigate uncharted territory, the cryptocurrency community remains vigilant, analyzing market data and chart patterns to decipher the next phase of this ongoing narrative. Whether the current trend signals a definitive shift towards altcoins or merely a temporary fluctuation remains to be seen, but one thing is certain: the era of digital assets is characterized by constant evolution and adaptation, and understanding Bitcoin dominance is paramount in navigating this ever-changing landscape.
CRYPTOCAP:BTC.D
by UnknownUnicorn2319099
[BTC] Bitcoin Historic Day : "To The Moon !" ?Today marks a historic milestone for Bitcoin ( CRYPTOCAP:BTC ), as the cryptocurrency surged to touch the $64,000 level for the first time since 2021. Notably, the trading volume skyrocketed, surpassing 11 times the daily mining output. The influx of buying activity was so overwhelming that it caused a temporary crash on major platforms like Coinbase, halting trading for approximately three hours due to the sheer volume of transactions. Adding to the fervor, the BlackRock ETF on Bitcoin ( NASDAQ:IBIT ) saw an astonishing $3.3 billion in transaction volume, marking a significant increase compared to the previous day's trading activity, underscoring growing institutional interest in cryptocurrencies. From a technical standpoint, Bitcoin has exploded past the Golden Zone as published in previous analyses, accompanied by an impressive surge in volume. However, as we approach the all-time high (ATH), caution is warranted. It's crucial to recognize that such rapid movements often necessitate a period of consolidation and recharging before attempting a sustained breakout. Failure to consolidate near the ATH could result in a mere fake-out, followed by a correction to the downside. Therefore, it's imperative to monitor Bitcoin's price action closely in the coming days, looking for signs of stabilization and accumulation to validate the potential for a genuine break above the ATH. In summary, while today's surge in Bitcoin's price is undeniably significant, prudent risk management and patience are essential as we await confirmation of a sustained upward trend beyond the ATH. Great Trade !
COINBASE:BTCUSD
by ArnoSG
BITCOIN SHATTERED Bull Market Doors! What NEXT??Welcome back! Let me know your thoughts in the comments! ** BTCUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
BITSTAMP:BTCUSDLong
by BKTradingAcademy
BITCOIN $BTCUSD - Feb. 13th, 2024BUY/LONG ZONE (GREEN): $46860 - $56275 DO NOT TRADE/DNT ZONE (WHITE): $42580 - $46860 SELL/SHORT ZONE (RED): $35550 - $42580 Overall the market has a bullish sentiment, price has recently broken above my previous buy zone so I decided to rechart new areas that I would look to enter at. Levels and zones are drawn from the daily and weekly timeframes. I threw a few of the recent events around structure that I would look directly towards for new information on where price is headed and around where to enter. There is a lot more ideas on a lot more timeframes, but this is what I immediately look towards. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
BITSTAMP:BTCUSDLong
by TonyAiello
BTC → Bitcoin Near Resistance! Should We Short? Let's Answer.Bitcoin is in a critical price zone as this bull run has taken us from $15,500 to $52,800. Is this a situation where we short? Or do we prepare for a long? How do we trade this? 🤔 Shorting may be an option for a lower timeframe such as the 15m or 1HR. I would not be shorting on the Daily or Weekly candles, but waiting for the price to pull back to enter a long. As outlined in my Bitcoin Lifetime Analysis, I believe Bitcoin is due for a major pullback ranging from 30-50% toward the $25,000-$30,000 price area: I would target a long entry in the $35,000 price area, set a stop loss either below the $15,500 low and target a 1:3 Risk/Reward, or a stop loss below the previous trading range at $25,000. Look for a double bottom around the Breakout Support area at $31,800 with a strong bull signal and confirmation bars. From there, reasonable take profit targets include 1:1 Risk/Reward at $42,300, just below the current price at $51,000, just below the previous all-time high at $65,000, and just below $100,000 which is a psychologically even number target. 💡 Trade Idea 💡 Long Entry: $35,575.00 🟥 Stop Loss: $22,900.00 ✅ Take Profit #1: $42,300 ✅ Take Profit #2: $65,000 ✅ Take Profit #3: $98,000 ⚖️ Risk/Reward Ratio: 1:5 🔑 Key Takeaways 🔑 1. Three pushes up toward a Resistance Area of $52,800 2. Resistance area is derived from the 2021 Head and Shoulders pattern 3. Wait for the price to pullback between 30-50%, and look for a double-bottom reversal pattern near $35,000 4. Long at 1:5 risk reward and take profit at three key levels 5. RSI is overbought at 78.00 which supports the pullback. 💰 Trading Tip 💰 Trends typically have 3 pushes in either direction before a trend change begins. Along with other market indicators, creates a situation to look for counter-trend trades because the probability of profit is high enough. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
INDEX:BTCUSDLong
by TraderEngineering
Say hello to $92KWhen the image becomes reality!! Search the entire trading view, see which trader can analyze like me and predict the price jump of Bitcoin to 61,000, with only one scenario!! So, this is a very good reason for you to follow me, if you want to be added to my special channel (monthly fee of 110 dollars) send me a private message. Well, as you can see in the new analysis, we are now at a major resistance, so we can consider that Bitcoin can move a little lower to the sema, but this should not cause you fear, because it is still at my target, which is $92. It will move (sooner or later) hopefully don't miss this great profit.
BITSTAMP:BTCUSDLong
by ALI_LAZGIPOUR
BTC Goes Higher - ☀️ & Bullish Potential for the next 7 days? A bullish sun will shine over Bitcoin in the next 24 hours and week, indicating additional upside potential. The cryptocurrency trend was positive over the past 24 hours, driven by the strong quarterly results released by the American chipmaker Nvidia yesterday evening. The institutional digital asset summit held by BlackRock later today may push the price of Bitcoin further up. The world’s largest asset manager is expected to promote its spot Bitcoin exchange traded fund (ETF), NASDAQ:IBIT , to institutional investors during this event. Assets under management in this ETF reached $6.3 billion five weeks after its launch in mid-January. The market capitalization of cryptocurrencies is now oscillating around $2 trillion, with that of Bitcoin representing half of it. The price of Bitcoin rose 0.1 percent to $51,839 over the past 24 hours. The Head of Research at Fundstrat, Tom Lee, expects this price to reach $150,000 during 2024, he said when interviewed by CNBC. Its price will be buoyed by the launched spot Bitcoin ETFs in the US, Bitcoin’s upcoming halving in April as well as upcoming rate cuts, Lee said. Follow us for more crypto weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
4
Bitcoin Prehalving TOPHello folks , hope you having exciting days . Last TA worked properly but i was expecting more than 20% dump , although i told you we are in a unpredictable situation and we wont sell we just wait for a buy situation , nothing can force me to fall for any traps tho . Red area is the prehalving top in my idea , usdt.D can goes down a bit but its on a strong support which will hold and its RSI is ridiculous. For some other reasons i think that BTC is on its top and will fall to approximately 0.5 to 0.61 fib levels wich are my previous targets , it will be sharp and it’ll cut so be careful, as i say its not a smart time to sell so I would be prepared to buy only , be careful about altcoins as btc.d is on strong support and any dump will smash alts . Stay safe fam .
BITSTAMP:BTCUSD
by mastershark
2
Bitcoin Bullish Continuation. to ATHsSup guys this is an update for the previous bitcoin chart analysis. following was on the previous analysis: Based on the chart, Bitcoin after sometime mooning, we needed a place to detour, correct and then continue mooning, so we can get to mars. So, we have been in a correction cycle where an WXY correction structure is seen, and once correction is complete, then a continuation bullish move is expected until 55k in Bitcoin. All important areas have been marked accordingly on the chart. Orders from the current price with a sl: @50K can be executed depending on how your portfolio or account is. CURRENTLY bitcoin is completing the correction, and from current price, Im expecting a bullish move. REMEMBER THIS IS NOT FINANCIAL ADVICE BUT A GAME I JUST LIKE TO PLAY WITH SOME OF MY FRIENDS. so if you blow your account or something then Im not gonna be liable.
COINBASE:BTCUSDLong
by Theofylrx
4
BITCOIN is creating a potential Cup & Handle formation.BTC is currently, potentially creating a smaller Cup & Handle formation. (In white) And, a potentially larger Cup & Handle formation. (In Blue) Bitcoin has been on an absolute tear the past few days, and these formations could come into play down the road if price action continues to fill them out. Whether it will be the smaller (White) Cup & Handle, the larger (Blue), or a Cup & Handle pattern at all remains to be seen, but will become clearer in the coming weeks/months. These formations are speculation at this point, but I just wanted to point out the potential for each to occur down the road if the current trend continues. Good luck, and always use a stop loss.
Long
by MetaShackle
BTC LONG Speculation, no major corrections until 75k-80k?Since the ETF, it seems to have been a sell the news, followed by buying the dip event at the 100D MA. Dips since the start of the bull run, even before the launch of the BTC ETF, have averaged ~20% followed by a continued massive bull run. Some, including myself, speculated a break of this trend of 20% dips (breaking 38k) followed by a continued sell-off into 34k or even 30k. The ETF launch was a perfect event to sell along with outflows from the GBTC takeover until recently. Assuming this pattern of 100% returns after a 20% dip, technically BTC can reach ~80k. Considering the shortened duration to reach such returns, we may reach 80k sooner than expected in this cycle. Note that we have recently (in the past few weeks) broken a multi-cycle trendline that acted as resistance roughly two months before the FTX collapse. So it could validate prices rising on top of ETF inflows increasing. Note that upon reaching 74k-80k, it is likely a significant pullback within 30k-40k will occur, given the lack of test of structure that BTC normally does pre-halving. This idea is invalidated with a daily close under 49.5k. Closing over 59k will likely have the rally continue toward 74k, with any price beyond it being risky to hold without selling, likely maxing out at 80k roughly the end of March. Closing under 44k would be bearish enough to consider going to 30k. Overall, this idea is very speculative and assumes a trend continuation that breaks BTC's normal patterns/expectations of price movement. Upward price movement is 34%-44% toward 74k and 80k, with a downward price movement of 42+% toward 31k, so entering now is dabbling more in the middle, slightly favoring bears in the long run. This is likely all that's left for BTC to continue the rally past ATHs assuming it can hold 50k before a significant correction. You could even argue of strong resistance ~57k-59k, but inflows are too strong, as is the narrative of RWA and the Tokenization of Financial Assets . Be weary that there are still other risks (cyber pandemic, bank runs, civil unrest, real estate, labor market participation/retraining, shipping routes in the Middle East, control of rare earth minerals/semiconductors) that have been deferred thanks to speculation/attention of tech around AI, and may conveniently come back. I'm not sure when, but I'd speculate starting the second half of 2025 to 2026. Trades: Long 55k SL 49.5k TP 74k (close or by the end of March) Short 77k SL 85k TP 60k, 45k, 35k (close)
CME:BTC1!Long
by linebands
Bitcoin bull cycle continuation to 55K??Hello guys, don't forget to like, subscribe, follow me on all socials and share with your mates, so they can make money like you want to as well 😆😆😆... anyways.. Based on the chart, Bitcoin after sometime mooning, we needed a place to detour, correct and then continue mooning, so we can get to mars. So, we have been in a correction cycle where an WXY correction structure is seen, and once correction is complete, then a continuation bullish move is expected until 55k in Bitcoin. All important areas have been marked accordingly on the chart. Orders from the current price with a sl: @50K can be executed depending on how your portfolio or account is. REMEMBER THIS IS NOT FINANCIAL ADVICE BUT A GAME I JUST LIKE TO PLAY WITH SOME OF MY FRIENDS. so if you blow your account or something then Im not gonna be liable.
COINBASE:BTCUSDLong
by Theofylrx
2
$Mubi #MubiI think this will end up being a BIG gainer once Alt season really begins. #Brc20 plays will continue to gain interest once normies arrive they will think they are SUPER SMART for clinching these types of ideas. Still no major #Cex IMO Speaking of @robinhood where you at with some NEW coins. I'm kind of surprised this came all the way back down in the 1st place with all the things that have gone parabolic recently. This kind of got treated like a pump and dump chump. However, I think it is a STRONG narrative going forward into this summer.
by rarebreed29