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BTCUSDT.1DReviewing the BTC/USDT daily chart, I've identified key technical elements that provide insights into Bitcoin's current market dynamics and potential future movements. Current Situation: BTC/USDT is currently trading at approximately $68,775.98, reflecting a rise of about 1.28% for the day. The price action over recent months shows a somewhat volatile trend with a pattern of higher lows, suggesting an underlying bullish sentiment. Technical Analysis: Support and Resistance Levels: S1 (Support 1): Positioned at $62,733.44, this level has served as both support and resistance throughout 2024, indicating its significance. Holding above this level is crucial for maintaining the current bullish momentum. S2 (Support 2): At $57,013.57, this level represents a stronger psychological and technical support, marking a previous consolidation zone. R1 (Resistance 1): The immediate resistance is at $77,193.65. This level needs to be breached to confirm continuation of the upward trend towards historical highs. R3 (Resistance 3): At $83,778.60, approaching this level would likely require a significant bullish catalyst, such as positive regulatory news or macroeconomic factors favoring cryptocurrencies. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line and appears to be maintaining a bullish trajectory, although the histogram shows some decrease in momentum. This could suggest a potential consolidation or slight pullback before further upward movement. Relative Strength Index (RSI): The RSI at 61.12 suggests that Bitcoin is neither overbought nor oversold, operating within a healthy range. There's room for upward movement without immediate concerns of being overbought. Conclusion: As of now, the bullish signals dominate the chart with both MACD and RSI indicating positive momentum, albeit with a caution of potential consolidation due to the histogram's behavior. My strategy would involve closely watching the $62,733.44 support level. A hold above this level can be seen as a confirmation of continued bullish sentiment, potentially aiming for the $77,193.65 resistance. Conversely, a break below could signal a shift in market dynamics, necessitating a reassessment of the bullish outlook. For traders and investors, it's advisable to place stop losses just below key support levels to protect against unexpected downturns. Additionally, keeping an eye on global economic indicators and crypto-specific news will be crucial in navigating the volatility inherent in Bitcoin's market.
by MarsSignals
BTC.........Is it Accumulation or Distribution?????Price is with a range from 72k to 58k, with price pushing lower and trading within the 66k lvl. With the FED holding rates at 5.50% and signaling that it may hold rates at current lvls for longer, it is hitting the crypto market. There is a lot of self-fulling prophecy out there about when the FED will cut rates, with some looking at the timeframe being in September. There is a FED rate decision in July which could set the stage for the September Rate Decision. Before then, the FOMC Minutes will be coming out, along with another NFP and inflation rate reading. With traders and investors wanting to see some reprieve and a stronger FED Dot Plot pointing at 2 or more rate hikes for the year, a lower printing on the NFP and inflation and a slowing economy, will give some cheer to the market and push BTC higher. But on the other side, strong economic printing and inflation stagnating and staying where it is at or rising, will likely sweep the legs of crypto and cause price to fall. The US economy (whether you believe so or not) data is showing that there is no need to start reducing rates as of yet. GDP is around 3%, unemployment isn't to bad. Wage Growth is still up there near 5%. Inflation is still above 3% and the FED is reducing its balance sheet. The technicals are showing mixed data which could keep price from finding a trajectory until a solid catalyst comes out. The daily chart is showing price is form either a cup and handle or a double top. If the cup and handle pattern is correct then some type of strong catalyst came out (likely the NFP printed a extremely weak number, inflation dropped considerably, a string of bad US economy data) and had enough force to break out of the very strong 72k resistance. If that resistance is broken with enough force to push it up to 75k pretty quickly, there isn't much to stop it. But if the double top is correct, then price will likely push to the 62k and test the 60k a few times before breaking below it. If the 58k is broken and price is able to hold at the 57k for a few days to a week, then price will likely drop further, below the 55k. Data is going to be the driving point for what price will do. If data keeps printing good and bad, then it will likely cause confusion for traders and investors and they will likely take the course of exiting. There are some prominent players out there like Michael Saylor (MicroStrategy) and other advocates of BTC (Robert Kiyosaki) that are likely to stay in and potentially keep price from tumbling greatly; but it still depends when the masses and hedge funds want to start piling in. I am thinking that if BTC does drop and hits below the 55k, there is likely to be a huge spike in buying up BTC as the self-fulling prophecy will be strong. The catalyst is likely to be when the FED will start reducing rates as eventually the economy will need some assistance. But the real question, is if the economy does push into a recession, will there be another case of QE and Stimulus pushed out (bailouts) if inflation is still around 2.5%-3%? Either way, I am still building a position on BTC even if it pushes below the 50k lvl.
COINBASE:BTCUSDLong
by DollarSaenz
Bitcoin(BTC/USD) Daily Chart Analysis For Week of July 26, 2024Technical Analysis and Outlook: Bitcoin exhibited significant down movement by reaching our Mean Support level at 64000 and subsequently rebounded strongly to retest our Mean Resistance level at 68200, as outlined in the Weekly Chart Analysis for the Week of July 19. The overall trend indicates progression toward the Inner Coin Rally at 70400, a retest of the completed Main Inner Coin Rally at 73200, and striding on to the anticipated long-term target of the Outer Coin Rally at 92000. It's important to note the initial downward pressure on the primary support at 65400 as the coin moves upward.
BITSTAMP:BTCUSD
by TradeSelecter
1
Bitcoin Nears Crucial Test as Hashrate StrengthensBitcoin (BTC) is on the cusp of a critical test as it approaches a trendline resistance that proved formidable in May. Concurrently, a surge in Bitcoin mining hashrate, a bullish indicator, is adding fuel to the rally. The benchmark cryptocurrency has been on a consistent upward trajectory, fueled by a combination of factors including increased institutional interest, macroeconomic concerns, and the halving event. As BTC closes in on the May trendline, traders and analysts are closely watching for how the market will react. A decisive breakout could ignite a new leg up in the price, while a rejection could lead to a period of consolidation or even a temporary pullback. The recent strengthening of the Bitcoin mining hashrate is a positive development that underpins the bullish outlook. The hashrate, which measures the computational power dedicated to mining new Bitcoin blocks, is often seen as a leading indicator of price trends. A higher hashrate implies increased miner confidence in the future price of Bitcoin, as miners are willing to invest more resources into the network. This surge in hashrate can also be attributed to the ongoing Bitcoin halving cycle, which reduces the block reward and incentivizes miners to optimize their operations. While the technical and fundamental backdrop for Bitcoin appears constructive, it's essential to approach the market with caution. Cryptocurrencies remain highly volatile assets, and price movements can be influenced by a variety of factors, including regulatory developments, macroeconomic conditions, and investor sentiment. Moreover, the Bitcoin market has a history of false breakouts, where prices briefly pierce resistance levels before retracing. Therefore, traders must employ risk management strategies and avoid overexposure. The potential breakout from the May trendline will be a key event to watch. If Bitcoin successfully overcomes this hurdle, it could open the door for a more substantial rally towards higher price targets. However, a rejection at this level could lead to a period of consolidation or even a temporary pullback. Ultimately, the cryptocurrency market remains highly dynamic, and investors should conduct their own research and due diligence before making investment decisions. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments involve significant risks, and investors should be prepared for the possibility of losses.
BITSTAMP:BTCUSDLong
by bryandowningqln
XRP: Outperforming Bitcoin and EthereumThe cryptocurrency market is a volatile landscape, marked by sudden shifts in investor sentiment and regulatory uncertainty. Amidst this turbulence, XRP has emerged as a standout performer, outpacing both Bitcoin and Ethereum. This exceptional performance can be attributed to several key factors, including its unique value proposition, technological advancements, and the evolving regulatory landscape. Unlike Bitcoin, which primarily functions as a digital store of value, XRP is designed to facilitate fast, low-cost, and global payments. This focus on utility has made it particularly attractive to financial institutions and remittance services seeking to streamline cross-border transactions. Additionally, XRP's consensus mechanism, which is significantly faster and more energy-efficient than Bitcoin's proof-of-work, provides a compelling advantage. While offering smart contract functionality, Ethereum has faced scalability challenges that have impacted transaction speeds and costs. XRP, on the other hand, has been engineered to handle high transaction volumes efficiently. This superior scalability makes it a more viable option for real-world applications, such as payments and remittances. A crucial factor driving XRP's recent outperformance is the improving fundamental backdrop. The long-standing legal battle between Ripple and the SEC has cast a shadow over the cryptocurrency. However, with Ripple CEO Brad Garlinghouse expressing optimism about a resolution in the near future, investor confidence in XRP has been bolstered. A favorable outcome in the lawsuit could potentially unlock significant institutional investment and propel XRP to new heights. Furthermore, XRP's growing ecosystem of partnerships and integrations is solidifying its position as a leading player in the global payments landscape. By collaborating with financial institutions and payment providers, XRP is expanding its reach and demonstrating its practical utility. This expanding network effect is likely to attract more users and investors, further driving price appreciation. While XRP's performance has been impressive, it is essential to approach any investment with caution. The cryptocurrency market remains highly volatile, and regulatory risks persist. However, the confluence of XRP's unique value proposition, technological advantages, and improving fundamentals positions it favorably for continued outperformance in the long term. As the broader cryptocurrency market matures and institutional adoption accelerates, XRP's focus on utility and scalability could give it a significant competitive edge. Ultimately, the decision to invest in XRP should be based on thorough research, risk tolerance, and a long-term investment horizon. By carefully considering these factors and staying informed about market developments, investors can make informed decisions about whether XRP aligns with their investment goals.
by bryandowningqln
Which direction should Bitcoin Dominance take?#Bitcoin Dominance 1D chart; The white trendline starts from January 2015 and continues to the present day with a peak in January 2021. It managed to rise above the trendline with strong momentum. A decline will surely come, but it is too early for that. So why not now? In order for the decline to begin, the necessary infrastructures must first be formed. One of them is the RSI mismatch. There is no decline at the moment. Pay attention to the levels I have circled in red circles; the first one is a strong resistance level, the other is OB resistance. My opinion is that we can see a rise at least until the OB region.
CRYPTOCAP:BTC.D
by ugurtash
Bitcoin's Path: From Past Performance to 2025 ProspectsConsider the journey of Bitcoin: from its humble beginnings valued at mere pennies to surpassing $60,000 over the past fifteen years. While many foresee Bitcoin's continued ascent over the next decade and a half, what about its trajectory in the near future? Let's delve into some speculation about where Bitcoin might be headed by 2025. Despite its notorious price volatility, Bitcoin has followed a surprisingly consistent pattern since its inception in 2009, cycling through roughly four-year phases. These cycles align with Bitcoin's halving events, which occur every 210,000 blocks added to its blockchain. Each halving event reduces Bitcoin's inflation rate by half, creating a supply shock that historically drives its price upward, even if demand remains steady. Typically, this four-year cycle unfolds predictably. It begins with a bear market phase, as observed in 2022, marked by a sharp decline from a peak. The subsequent year often brings a recovery phase, akin to the upward trend seen in 2023. The third year, which includes the halving (as seen in April), usually witnesses significant price increases due to anticipation of reduced supply. If history repeats itself, the fourth year—2025 in this scenario—tends to see substantial gains for Bitcoin. While no outcome is guaranteed, Bitcoin appears to be adhering to its historical cycle. Assuming this pattern persists, we can speculate on its 2025 price based on past performance. Let's first consider 2024, given Bitcoin's recent halving in April. Halving events have a profound impact on Bitcoin's price. After the first halving in 2012, Bitcoin surged 119%. Four years later, in 2016, it climbed 93%. Following the 2020 halving, it soared by 174%. On average, Bitcoin has historically increased by approximately 125% during halving years. This historical context sets the stage for projecting Bitcoin's trajectory into 2025. If Bitcoin were to grow by 125%, starting from its price at the beginning of 2024, a $99,000 Bitcoin by the end of the year would be a reasonable expectation. Considering Bitcoin has already appreciated by approximately 60% this year, achieving another 60% increase to meet historical norms might seem significant. However, Bitcoin has demonstrated in the past that it can achieve such gains in a matter of months. If 2024 follows this trajectory, a near-$100,000 Bitcoin to start off 2025 would be impressive and present a compelling investment opportunity. Historical data suggests that the full impact of Bitcoin's halving event typically unfolds in the year following the halving. After Bitcoin's first halving in 2012, it surged by an extraordinary 840% in 2013. Following the 2016 halving, it saw a 331% increase in 2017. Then, after the 2020 halving, it rose by a solid 174%. On average, Bitcoin has historically gained around 400% during these post-halving years. Projecting from a starting point of $99,000 at the beginning of 2025, a 400% increase could potentially elevate Bitcoin's price to nearly $500,000 by the end of the year. It's essential to note that past performance does not guarantee future results. However, the continuation of Bitcoin's established four-year cycle remains compelling. The full impact of the halving typically takes at least a year to materialize. Even if Bitcoin falls short of the average gains seen in post-halving years in 2025 or if the cycle deviates, Bitcoin's unique attributes—such as its finite supply of 21 million coins, industry-leading decentralization, and robust security—suggest it holds significant long-term potential compared to other assets. Bitcoin has established itself as the quintessential cryptocurrency, poised to continue its journey of price appreciation for years to come.
BITSTAMP:BTCUSDLong
by FOREXN1
5
BTCUSDT Forms Bearish Head and Shoulders: 5% Downside Target in Bitcoin (BTCUSDT) is showing a classic bearish head and shoulders pattern, signaling a potential trend reversal. This technical formation, considered one of the most reliable trend reversal indicators, suggests that the current bullish trend may be nearing its end. The pattern consists of three peaks, with the middle peak (the head) being the highest, flanked by two lower peaks (the shoulders). As the price breaks below the neckline, it confirms the pattern and indicates a likely downward movement. Key points to consider: Pattern confirmation: Watch for a decisive break below the neckline. Entry point: Consider entering a short position upon neckline breakout. Stop loss: Place a stop loss just above the right shoulder for risk management. Profit target: Aim for a 5% downside move from the breakout point. Traders should exercise caution and use proper risk management techniques, as no pattern is guaranteed to work every time. Always conduct thorough analysis and consider multiple factors before making trading decisions. #Bitcoin #BTCUSDT #CryptoTrading #HeadAndShoulders #TechnicalAnalysis #BearishPattern #CryptoMarket #TradingStrategy #CryptoTrends #RiskManagement
BINANCE:BTCUSDShort
by XTradeSetup
BTCUSD: Dipping, first support reached- This is an update to the Jul 18 post/idea - Following an enthusiastic rally, the market has finally taken a breather, dipping to the ascending support level currently at of $64000. There's even more substantial support at the $61,800 level, where we can expect more buyers to jump in if prices dip that low. Looking at the bigger picture, the bullflag pattern that started in March seems to be nearing its end. After finding a bottom in early July, we may be ready to continue the upward trend and potentially surpass previous all-time highs. However, it's important to stay cautious as market conditions can change quickly. Our response should be guided by our well-thought-out plans. For those with a taste for calculated risks, the current levels or lower support levels could be attractive entry points. That being said, let's remember that we are still technically within the currently active bullflag/retrace (downwave) that began in March, so it's important to maintain a sense of caution. A clearer bullish signal will emerge once we break out of this range decisively, paving the way for more confident optimism. More to come..
COINBASE:BTCUSD
by MCFractalStudies
BTC upside potential for the next 24 hours The Bitcoin Conference 2024, the largest world’s Bitcoin conference, kicks off in Nashville later today. Republican presidential candidate Donald Trump will be its keynote speaker on Saturday. There are rumors that he will announce that Bitcoin will be transformed into a strategic reserve asset. Meanwhile, the organizer of the conference, Bitcoin Magazine, denied rumors that the Democrat presidential candidate Kamala Harris would be speaking. “No surprise. What can she say to us when she’s actively imprisoning developers, forcing our industry overseas, attacking PoW… it would have been a disaster for her,” the CEO of Bitcoin Magazine David Bailey said. “I gotta be honest, feels like Kamala should commute Ross Ulbricht’s sentence before addressing the Bitcoin community. That’s the tables stakes. Both Trump and RFK have promised to do that day 1,” Bailey said. Ulbricht was sentenced to life in prison without the possibility of parole under the Obama administration in 2015 for creating and operating the darknet market website Silk Road. This website sold drugs and other illegal goods. “All eyes on Trump now. Choice is simple really, Trump Pump or Biden Dump?,” Bailey added. Bitcoin may reach $100,000 “very soon” on expectations that the Republicans will win the US presidential elections in November, the CEO of CSOP Asset Management Ding Chen told Bloomberg earlier this week. The price of Bitcoin fell 2.5 percent to $64,190 over the past 24 hours, Trading View’s Bitcoin chart shows, while ATTMO forecasts strong sun for Bitcoin for the next 24 hours, indicating upside potential and a bullish trend. Follow us for more crypto news and weather reports!
Long
by ATTMO
The BTC in Dead Fall : Get Ready for the PUMPIf you have read my previous chart idea, I am sure you were ready for this. Now, there is nothing to see in the hourly chart, we have to move towards the daily chart. Here you can see we have touched the Major Support Zone, this is a very crucial barrier for BTC. All the MAs are sitting below it one by one. MACD shows the decrease in bull power. Under this support zone we have a fib level at $63,200. The biggest and most powerful MA, 200is sitting at $60,000. Most of the traders don't want to go there, because if that happens, it will be very difficult to come back as we were at $55,000 only a few days ago. Going back to these zones will break market confidence and it will take at least a month or minimum 15 days to recover this shock. I have another theory that I am not allowed to share here. What to do now? Accumulate btc if you can. Do not take futures trade as the market would be very unstable. Watch out for btc conference and the price will shoot around the conference, and especially when Trump reaches there, when he talks about bitcoin, when he talks to crypto pro big names - Expect multiple shoots tomorrow.
Long
by imvijaygir