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Hash Ribbons Signal Potential Bitcoin Bull RunMiner Capitulation Ends, Igniting Bullish Outlook The cryptocurrency market is abuzz with excitement as a key indicator signals a potential turning point for Bitcoin. The Hash Ribbons indicator, a tool used to measure miner capitulation, has recently shifted into a bullish "buy" signal. This development, coupled with other positive market trends, is fueling speculation of an imminent Bitcoin rally. The Hash Ribbons indicator tracks Bitcoin's hashrate using two moving averages: a 30-day and a 60-day. When the shorter moving average dips below the longer one, it typically signals miner distress and potential market downturn. Conversely, when the 30-day average surpasses the 60-day, it historically marks a "buy" signal, often preceding significant price increases. The recent shift to a bullish signal indicates that miners may have weathered the storm, and Bitcoin could be poised for an upward trajectory. This positive development is further reinforced by evidence suggesting the end of miner capitulation. Miners often sell their Bitcoin holdings during periods of low profitability to cover operational costs. When this selling pressure subsides, it can lead to a price increase as the supply of Bitcoin available for sale decreases. Market Enthusiasm Amidst Uncertainties While the Hash Ribbons signal and the apparent end of miner capitulation are undoubtedly bullish indicators, it's essential to consider the broader market context. Several factors could potentially dampen Bitcoin's momentum. One significant concern is the impending payout of claims from the collapsed Mt. Gox exchange. A substantial amount of Bitcoin is expected to be released into the market, which could exert downward pressure on prices. Additionally, the potential approval of Ether ETFs in the United States has introduced a new element of uncertainty. While this development could benefit the broader cryptocurrency market, it may also lead to increased volatility in Bitcoin's price. Despite these potential headwinds, the overall sentiment among market participants appears to be optimistic. The Hash Ribbons signal has generated significant buzz, and many analysts believe that Bitcoin is primed for a substantial rally. However, as with any investment, it's crucial to approach the market with caution and conduct thorough research before making any decisions. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should carefully consider their risk tolerance and investment goals before allocating funds to Bitcoin or any other digital asset. While the Hash Ribbons indicator and other positive factors suggest a potential bullish trend, it's essential to remain vigilant and monitor market developments closely. Ultimately, the future of Bitcoin's price is difficult to predict with certainty. However, the recent bullish signals provide a glimmer of hope for investors who have weathered the cryptocurrency market's ups and downs. As the market continues to evolve, it will be fascinating to see how Bitcoin responds to the challenges and opportunities ahead.
BITSTAMP:BTCUSDLong
by bryandowningqln
Insider Knowledge: Exploiting the House Money EffectIntroduction In trading and investing, psychological biases significantly influence decision-making. One such bias is the "House Money Effect." Understanding this effect can help traders avoid common pitfalls and take advantage of this phenomenon. What is the House Money Effect? The House Money Effect is a psychological phenomenon where individuals are more likely to take risks with money they have won rather than their initial capital. In trading, this means traders become more risk-tolerant after experiencing gains, treating profits as "house money" and taking on higher risks than they would with their own capital. Why Does It Happen? The House Money Effect occurs due to several psychological factors: Mental Accounting : People tend to treat money differently based on its source. Profits are often seen as less valuable than initial capital. Overconfidence : After a winning streak, traders may become overconfident in their abilities, leading to riskier trades. Loss Aversion : Gains are perceived as a buffer, reducing the fear of losses and encouraging riskier behavior. Example of the House Money Effect on Crypto In the 2021 Crypto Bull Market, we saw Bitcoin soar to all time highs. This subsequently caused many altcoins to rally really hard resulting in some 100-500x and numerous 2-3x tokens. If you observed at what point in the timeline this happened, this happened towards the end of the bull run, when everyone already knew about crypto and everybody was seemingly getting rich by buying cryptocurrencies. This was the peak of retail activity, which includes newcomers as well as those who got rich from holding tokens earlier. This is a perfect example of the phenomenon with several key characteristics Was after a period of extreme gains Was causing risk assets to outperform, suggesting a higher risk tolerance in the market Immediately after the markets tanked, clearly indicating this was a massive retail loss By understanding and spotting the House Money Effect, traders can better manage their emotions and make more rational trading decisions. Recognizing this bias is the first step toward mitigating its impact and maintaining a disciplined trading strategy. We hope you enjoyed reading this idea.
INDEX:BTCUSDEducation
by AlgoAlpha
2
BTC 24-hour upside potential; downside over the 7-day horizonBitcoin reached a five-week high over the weekend supported by hopes of a Republican victory in November. These were slightly dashed on Sunday when the Democratic presidential candidate Joe Biden dropped out of the race, increasing the chances of a Democratic victory. A Republican victory is seen as much more favorable for the cryptosphere. The SEC has extended its deadline for comments on the potential listing and trading of options on trusts or ETFs holding Bitcoin to between Sept 21 and Nov 20, the US regulator said. The price of Bitcoin dropped 1.4 percent to $66,838 over the past 24 hours, Trading View’s Bitcoin chart shows. ATTMO forecasts a sunny day ahead for Bitcoin, indicating a potential upside, yet, drizzle within 3 days, extending to the next week, which could announce a bearish trend and downside for the biggest crypto. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSD
by ATTMO
A little Bear Cycle for BITCOINThe market went up and got rejected from the upper resistance level. Even though we have 100 MA but I don't think it would be enough to hold the price fall because data shows a large number of shorts are ebing opened. If traders believe market gonna go down, it will. Some people will make profit but rest they will get liquidated when the price will take a sudden rise. The same thing happened last night and this will happen again. More than $100M dollar of short trades were liquidated and the long. When people think market is gonna go deep, it takes sudden shift in the movement. At current point, the lower level of support zone MIGHT be able to hold but if fails it will go down to the 0.786 Fib mark for support. Going under it will be another dip story. But if any of these twi succeed in holding and pushing back, the market will come up to recreate the support level at point 2 and will try to stay in the zone to make the support stronger, or better get a ittle up so the zone soidifies, making a way to upside and try to break the red zone above it. And this time it should succeed and touch the $70k mark. We are looking at another over $100k in liquidations.
by imvijaygir
BEWARE : Bitcoin Price in an UNCERTAIN zone In the last 2 days, Bitcoin has received support from the $66,000 zone four times, and the rejection from $67,800 twice and from $68,700 one time. A simple rule, the more the hit the weaken the support or resistance becomes. As discussed in the previous post, Bitcoin price came down to take support from level 2, and bounced back. Now the previous support level 1 has become the resistance. {When price crosses its support and goes under it, the support turns into a resistance, and vice-versa} As of the current chart, btc is taking rejection from Level 1. Once it over comes, this level will again become a support and hence helping the btc in its rise again. In case it receives high resistance from this elvel, the next support would be the fib level around $65,800. The enxt few hours are very crutial. Perpentul data shows that as compared to long positions at this range, traders have more short positions. This can cause the btc price to get struck in this zone for a while before taking any side. Trade should be avoided as this would be veru risky in an uncertain environment. In the next 10 hours, btc should have chosen a side. In such situations, the market liquidates both sides by playing double side. a sudden price movement to one side first and then taking a U-turn. Traders were advised to remain cautious
by imvijaygir
2
Is the Bitcoin Bull Run on Fumes? Bullish Wedge?Bitcoin (BTC), the enigmatic pioneer of cryptocurrencies, has captivated investors with its volatile price swings and potential for massive returns. After a strong incline in recent months, questions are swirling about the sustainability of this bullish trend. One technical analysis pattern catching attention is the bullish wedge, and its potential to signal a reversal. The Bullish Wedge: A Double-Edged Sword The bullish wedge is a chart pattern formed by two converging trendlines, one acting as resistance and the other as support. While it initially suggests a continuation of the uptrend, a breakout from the lower trendline can indicate a potential price decline. Here's why the bullish wedge is a double-edged sword for BTC investors: • Continuation Pattern: If the price breaks above the resistance line with increasing trading volume, it can be interpreted as a confirmation of the bullish trend. This would suggest that buyers are accumulating BTC at higher prices, potentially pushing the price further upwards. • Reversal Pattern: A breakdown below the support line, particularly with significant selling volume, could signal a trend reversal. This would indicate that sellers are overpowering buyers, potentially leading to a price decline. Is This the End of the Bull Run? Whether we're witnessing the tail end of the BTC incline depends on several factors: • Price Action at the Wedge: Closely monitoring the price action at the wedge's apex (the point where the trendlines converge) is crucial. A clean breakout above resistance with strong volume suggests a continuation of the uptrend. Conversely, a forceful breakdown below support with high selling pressure indicates a potential reversal. • Technical Indicators: While the bullish wedge is a valuable tool, it shouldn't be used in isolation. Combining it with other technical indicators like the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD) can provide a more comprehensive picture. Overbought readings on the RSI or bearish divergences on the MACD could signal a potential reversal despite the wedge pattern. • Fundamental Factors: External factors like regulatory changes, institutional adoption, and broader economic conditions heavily influence the cryptocurrency market. Positive news on these fronts can bolster the bullish momentum, while negative developments can trigger a sell-off. Beyond the Bullish Wedge: Other Considerations Predicting the future of Bitcoin is notoriously difficult. Here are some additional factors to consider: • Market Sentiment: Bullish sentiment can fuel upward price movements, while bearish sentiment can lead to a decline. Gauging investor sentiment through social media analysis or news outlets can provide valuable insights. • On-chain Analysis: Analyzing on-chain data, such as active addresses or exchange inflows/outflows, can reveal investor behavior and potential buying or selling pressure. Navigating the Uncertainty: What Investors Can Do While the bullish wedge presents a potential turning point, it's not a guaranteed indicator. Here's what investors can do: • Employ Risk Management: Always implement stop-loss orders to mitigate potential losses if the price falls below a certain level. • Diversify Your Portfolio: Don't put all your eggs in one basket. Diversify your crypto holdings and consider other asset classes to manage overall portfolio risk. • Stay Informed: Keep yourself updated on the latest developments in the cryptocurrency space, including technical analysis, market sentiment, and regulatory changes. Conclusion The bullish wedge presents an intriguing scenario for Bitcoin's price trajectory. While it raises the possibility of a trend reversal, a confirmation requires a breakdown below support with significant selling pressure. By combining technical analysis with other factors like market sentiment and fundamental analysis, investors can make informed decisions. Remember, the cryptocurrency market remains highly volatile, and a healthy dose of caution is always advisable.
BITSTAMP:BTCUSD
by bryandowningqln
BTC - Local perspectiveOver the weekend INDEX:BTCUSD re-contested the $66,141 level and now we see consolidation above this level. If the consolidation continues and the price can successfully consolidate above this level during this week, there are all chances for the price to rise towards the next model level - to the price of $73,518, the resistance zone, very close to the historical maximum. If the price returns under the level of $66,141, it is reasonable to expect a move towards $61,083, $59,505 and the unclosed GAP at the CME:BTC1! at $57,805:
INDEX:BTCUSD
by TSFC
BTC continues to ClimbSo we are back with a new monday and if you have been keeping an eye on the chart, you know it played out exactly as we wanted. We had a weekly close above the resistance and the btc has created 2 small supports about the resistance. Be warned, these supports can be tested multiple times and there might come a time if the bear volume rises that price comes down to the second support. Once tested, it will bounch back and will try to break the next resistance. The current price is supported of 20MA and MA50 is waiting between the two supports to provide additional support in case of a bear run over. Above the current zone we have a slight resistance that can halt us for a while but it is easily breakable. During the weekend, the change in US politics caused the price to take a jump (within the prevision 12 hours). This week is going to be very crutial for us. Watch out for the Bitcoin conference being held as Nashville. We have a big concern for now and that is the zone around $69,000 however I believe during the conference the price is going to shoot like a rocket. It should touch atleast FWB:73K if not $75k. Make sure to be alert if you are going to take trades as the market has a tendency to try and capture big leverage people. For sure millions of worth of shorts are going to get liquidated, but there will be many long positions as well who will become victim to the market. Let's check in the evening how the market plays off.
Long
by imvijaygir
Major BTC Bulltrap? Another leg downwards! BTCUSD Index Analysis OF Very Probable reversal and new downtrend continuation Reasoning goes by the points I've made below DOUBLE-TOP that happened at May 20th and June 24th AT 71940 BITSTAMP:BTCUSD Further major and strong Order Block (4H OB) at 67700-68400 BITSTAMP:BTCUSD level This recent move, that has been happening since July 19th, has sweeped old Liqudity area that previously formed mid-trend and formed DOUBLE TOP that happened at June 14th & 17th Additionally, June 20th Liqudity Run, that formed a Lower Timeframe Breaker Block, which was recently used as support for last liqudity area, just got swept (at the time of writing 20:52 utc +3). All of above coinsides with 0.236 Fibonaci retracement of last major downtrend that started at June 24th and ended on July 5th. Exuberant market sentiment about recent market uptrend and additionally too many optimistic mainstream media news regarding $BTCUSD. For last few confirmation would like to see 66300 Level - Break and Close of LTF Breaker block area 62400 Level - Another imporant level, if we break and close below, then it will only confirm all of the above. 53500 Level - future level that I watch, when we get closer to it I will do another analysis.
INDEX:BTCUSDShort
by WhaleHunter_KJ
1
Will #Bitcoin repeat its past moves?#Bitcoin 1W chart; Let's try to look at the Bitcoin picture from a more distant and different angle; First of all, the positive divergence of the MVRV indicator with the breakout of the rising top in October 2020 signaled the beginning of a movement in the market. MVRV is an indicator used to determine the overbought or oversold conditions of the market. In May 2021, we see that the first top began to decline (2nd vertical yellow line), again with negative divergence. Subsequently, the 1/RSI divergence at the second top signaled that the downward start of the cycle was now possible. We can say that the manipulation area here was the foam of the 2021 cycle. We can say that those who read this place well left the market with good gains in time. With the start of the bear cycle, the next first positive signal came in April 2023. With the 2/RSI giving a positive divergence, it showed us that the direction of the market was about to change. With the test of the Ath level in March 2024, the 4/RSI divergence formed with the 2021 top showed us that the rise was over for now. Subsequently, the 3/RSI divergence formed at this level showed us the direction of the market a little. I tried to warn you as much as I could in this regard. The area indicated by the orange arrow below shows us that an extreme buying period has not yet started in the market and therefore we have not yet entered the cycle we call mega bull. Let's talk about the target... According to my estimates, I foresee that this cycle may be between 102k and 120k. I hope this was useful information for you. If you like it, I would be very happy if you can share it to support.
by ugurtash
3
Will #Bitcoin repeat its past moves?#Bitcoin 1W chart; Let's try to look at the Bitcoin picture from a more distant and different angle; First of all, the positive divergence of the MVRV indicator with the breakout of the rising top in October 2020 signaled the beginning of a movement in the market. MVRV is an indicator used to determine the overbought or oversold conditions of the market. In May 2021, we see that the first top began to decline (2nd vertical yellow line), again with negative divergence. Subsequently, the 1/RSI divergence at the second top signaled that the downward start of the cycle was now possible. We can say that the manipulation area here was the foam of the 2021 cycle. We can say that those who read this place well left the market with good gains in time. With the start of the bear cycle, the next first positive signal came in April 2023. With the 2/RSI giving a positive divergence, it showed us that the direction of the market was about to change. With the test of the Ath level in March 2024, the 4/RSI divergence formed with the 2021 top showed us that the rise was over for now. Subsequently, the 3/RSI divergence formed at this level showed us the direction of the market a little. I tried to warn you as much as I could in this regard. The area indicated by the orange arrow below shows us that an extreme buying period has not yet started in the market and therefore we have not yet entered the cycle we call mega bull. Let's talk about the target... According to my estimates, I foresee that this cycle may be between 102k and 120k. I hope this was useful information for you. If you like it, I would be very happy if you can share it to support.
by ugurtash
#Bitcoin geçmişte yaptığı hamlelerini tekrar eder mi?#Bitcoin 1W grafik; Bitcoin resmine daha uzaktan ve daha farklı bir açıdan bakmayı deneyelim; Öncelikle Ekim 2020’deki yükselen tepenin kırılımı ile birlikte MVRV indikatörünün pozitif yönlü ayrışması bize markette bir hareketliliğin başlangıcı olduğu sinyallerini vermişti. MVRV, piyasanın aşırı alım veya aşırı satım durumlarını belirlemek için kullanılılan bir indikatördür. Mayıs 2021’de yine negatif yönlü ayrışmayla birlikte ilk tepenin düşüşünün başladığını görüyoruz (2. dikey sarı çizgi). Akabinde gördüğümüz ikinci tepede ise oluşan 1/RSI uyuşmazlığı artık döngünün aşağı yönlü başlangıcının olabileceğinin sinyallerini vermişti. Buradaki manipülasyon alanı da 2021 döngüsünün köpüğüydü diyebiliriz. Burayı iyi okuyanlar piyasadan vaktinde iyi kazançlarla ayrıldı diyebiliriz. Ayı döngüsünün başlamasıyla birlikte bir sonraki ilk pozitif sinyal Nisan 2023’de geldi. 2/RSI’ın pozitif uyumsuzluk vermesiyle birlikte piyasanın yönünün değişmek üzere olduğunu bize göstermişti. Mart 2024’de Ath seviyesinin test edilmesiyle birlikte 2021 tepesiyle birlikte oluşturduğu 4/RSI uyumsuzluğu bize yükselişin şimdilik buraya kadar olduğunu göstermişti. Akabinde de bu seviyede oluşan 3/RSI uyumsuzluğu bize marketin yönünü az da olsa göstermişti. Bu konuda elimden geldiğince sizleri çokça uyarmaya çalıştım. Aşağıda turuncu ok ile belirtili bölge bize aslında markette aşırı bir alım döneminin henüz başlamadığını ve bu nedenle de mega boğa dediğimiz döngüye henüz girmediğimizi gösteriyor. Gelelim hedefe.. Bu döngünün tahminlerime göre 102k ile 120k arasında bir seviyede olabileceğini ön görüyorum. Umarım sizler için faydalı bir bilgi olmuştur. Beğendiyseniz, destek olmak adına paylaşabilirseniz çok sevinirim.
by ugurtash
2
Bitcoin(BTC/USD) Daily Chart Analysis For Week of July 19, 2024Technical Analysis and Outlook: Bitcoin has consistently demonstrated an upward trend in the current week's trading, aligning with the projections outlined in the Daily Chart Analysis for the Week of July 12. Both the Mean Resistance level at 60400 and the subsequent Mean Resistance level at 62800 were not only reached but surpassed greatly. The overall trajectory is progressing towards the long-anticipated target of the Outer Coin Rally at 92000. Concurrently, two significant interim milestones have emerged: the Inner Coin Rally at 70400 and a retest of the completed Main Inner Coin Rally at 73300. It is imperative to underscore the substantial downward primary squeeze pressure toward 64000, prevalent across all specified upper target levels.
BITSTAMP:BTCUSD
by TradeSelecter
Is the bull market over? Ultimate Bitcoin (BTC) analysisHello, Skyrexians! Last month was bloody for the crypto market. BINANCE:BTCUSDT dumped from $70k to $63k, altcoins have completely dead and broke the belief for the altseason. We suppose that now nobody wants to hear anything about altseason and crypto. Most of traders has -50-60% portfolio loss and even cryptocurrency trading platforms which are using the automated trading bot faced with the huge losses. Will this dump continue or now is the reversal point and the forbidden word "altseason" can be said again in the nearest future? Let's try to understand! Bitcoin weekly time frame analysis First of all let's take a look at the 1W BTC time frame using our cryptocurrency trading strategy. This timeframe is good to describe current bull run with the Elliott waves. The first we shall do is to find the highest high on the Awesome oscillator. This top corresponds to the recent top at $73k. Therefore, there is a high probability that now price is printing the wave 4. We have the minimal requirement to finish this wave is the cross of the zero line by Awesome oscillator. We need to see much more candles for this crossover. It means that wave 4 will be finished at least in September. The good news that target price has been already reached or almost reached, that's why we don't expect the significant drop from here. 0.38-0.5 Fibonacci retracement from wave 3 is enough to finish this correction. It means that max drop is possible to $49k. When the reversal bar will be printed there correction is gonna be over. After that the major wave 5 is expected which can reach 85-107k depends on if it's gonna be extended or not. We will have more precise target when this wave be in progress. Then the bull run is gonna be finished and the next bear market can potentially be huge, but now it's too early to talk about it.
Long
by Skyrexio
10
BTC – Weekly Inside Bar and Wychoff AccummulationWhile the world plunges into a complex array of issues that threaten social destabilization across multiple fronts, Bitcoin has shown an unexpected level of resiliency. Through the past two weeks is has climbed from $53.4k to $67.4k and in so doing has confirmed a large Inside Bar in the weekly timeframe (orange circle). This is a bullish formation, typically demonstrating a trend reversal and in this case, comes after 16 weeks of a 3-3-5 Flat Correction. What’s more, when we look at the daily chart, one can see a pretty clear impulsive 5-wave pattern to the upside from the low, demonstrating a notable change in sentiment. However, through the corrective period a well defined Head and Shoulders pattern has completed, with confirmed resistance of the neckline through July 6-12. That projects a deeper correction down below the $45.4k level, or towards the 1.618 projection of the A-wave from B (the top of the H&S pattern), which target also happens to be coincident with the S3 support level of the weekly pivot. The inside bar is strong though, and price moved quickly back to test the 0.236 level of the declining channel. In doing so, BTC has reclaimed many critical levels including the 1W 12MA, the 1W 20MA, and the weekly Pivot point all now offering support. And as I’ve pointed out in my last post, historically, between a Halving and the next market top, the BTC price has never closed below the lower level of the weekly Bollinger Band, which now currently sits at $58.4k and has only dipped below 52.85 on the RSI once before (from which it launched strongly to a new market top). In fact, even when one looks at the Wychoff model for Accummulation/Distribution, we can make a strong case that we are only just completing the Accumulation stage in preparation for significant price appreciation, with Distribution phases still well into the future. So, what do you think? Was the break of the neckline a false signal and we are about to take a moon shot, or is this rally just a bull-trap and a deeper correction will follow?
INDEX:BTCUSDLong
by Crypto-Swing
5