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BTC/USD Performance Review: December 16, 2024.BTC/USD Performance Review: December 16, 2024 Market Overview Bitcoin (BTC) has had a dynamic day, reaching a new all-time high of $106,648 in the early Asian session. However, it has since corrected to around $104,773. The main driver behind today's price action is the anticipation of the US Federal Reserve's decision on interest rates, expected on Wednesday. Key Events and Influences New All-Time High: BTC reached a new all-time high of $106,648 early today. This surge was driven by strong institutional demand and positive market sentiment. Federal Reserve Anticipation: The market is closely watching the Federal Reserve's upcoming decision on interest rates. A potential rate cut is seen as positive for risk assets like Bitcoin. Institutional Inflows: Bitcoin Spot ETFs recorded a net inflow of $2.17 billion last week, indicating strong institutional interest. Technical Indicators: Early signs of bearish divergence in the Relative Strength Index (RSI) and Awesome Oscillator (AO) suggest weakening bullish momentum. Price Movements Opening Price: BTC started the day at $105,000. High: Reached a high of $106,648 early in the Asian session. Low: Corrected to a low of $104,773 later in the day. Current Price: Trading around $104,773 at the time of writing. Technical Analysis Moving Averages: BTC is trading above its 50-day EMA but below its 200-day EMA, suggesting a potential bullish trend if it can reclaim the 200-day EMA. RSI: Currently at 68, approaching overbought territory. A break above 70 would typically generate a sell signal. MACD: The MACD line recently crossed above the signal line, indicating bullish momentum. Bollinger Bands: The price touched the lower Bollinger Band and is now moving upwards, indicating a possible reversal. Volume: OBV is rising, suggesting strong buying interest. Market Sentiment Fear and Greed Index: Currently reads 83, indicating "extreme greed" among traders. Analyst Predictions: Analysts remain bullish on BTC, with some setting a target of $110,000. Conclusion Bitcoin has had a volatile day, reaching a new all-time high before correcting slightly. The market is closely watching the Federal Reserve's upcoming decision on interest rates, which could significantly impact BTC's price. Despite the correction, the overall sentiment remains bullish, supported by strong institutional inflows and positive technical indicators..
FX:BTCUSDLong
by OakleyJM
(Spicy) December 12 Bitcoin Bybit chart analysisHello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. Above is the Nasdaq 30-minute chart. There will be an indicator announcement at 10:30 shortly. *Red finger long position strategy. The Nasdaq has touched the 30-minute resistance line, but the 2-hour chart MACD dead cross is in progress, so I judge that a vertical rise is difficult. Since it is breaking out of the 30+1 section, the short-term pattern is breaking a little bit, but I followed the trend for a strong rise. As a risk factor, there is a possibility of being swept away if the orange resistance line above No. 1 is broken, so you should be careful. Also, since there was no reversal after the vertical rise in CPI yesterday, an adjustment may come right away, so please take note. If we just maintain the green support line today, and move sideways, Bitcoin will be free. This is the 30-minute Tether Dominance chart. Since the downward trend is open due to yesterday's movement, and Bitcoin is in an upward trend, I tried to enter the short position operation method in reverse. If it fails to break through the pink resistance line, it will be a vertical decline, but if you look at the candle shape on the left, since a full candle is in place, the short position entry point is at 3.96% It is roughly the 30-minute resistance line + the 1-hour chart resistance line. Since the topmost point is a textbook-like position for a 3.99% short position, if it fails to break through the red resistance line today, it seems very likely to fall. This is the Bitcoin 30-minute chart. Nasdaq is renewing its all-time high, but Bitcoin has not yet broken through its all-time high. Therefore, the possibility of a sweep condition seems low, and based on the Nasdaq strategy and the Tether Dominance short position entry point, we proceeded with the strategy with a strong upward condition. For reference, Bitcoin also touched the center line of the 1-hour Bollinger Band chart alone, so the short-term pattern is broken, and the 2-hour MACD dead cross pressure is in progress, so the vertical rise looks low. Today, the 1+4 section looks dangerous, and the match was decided at the middle point, the 30-minute support + 1-hour support line of the Bollinger Band pattern. *Red finger movement path One-way long position strategy 1. $99780.5 long position entry section / When the green support line is broken Or when section 2 is touched, stop loss price 2. $103,718 long position 1st target -> Good 2nd target price If the strategy is successful, section 1 is the long position operation section. Since it can rise without adjustment, It seems advantageous to re-enter the long position without operating a short position. The stop loss price is The green parallel line support line at the bottom -> sky blue autonomous depending on the remaining drawing. Since there was no resistance line touch on the 30-minute chart today, You should be careful because it can end as a slight adjustment or sideways movement in section 1 at the top. The orange resistance line at the top and the sky blue support line at the bottom are sideways movement sections. Section 2 is a textbook short position <-> BIT can be a long position entry point compared to Tether Dominance, which moves in the opposite direction. If the green support line is maintained today, it seems that there will be no problem in the upward trend, and I have drawn the support line and checked the price from below Section 2. And, I have been giving you a hint recently. I explained that you don't need to worry too much about BIT movement. I wonder if you had fun with minor altcoins in the Bitcoin rebound yesterday. Depending on the movement today, the sideways movement may continue, so it would be good to aim for minor altcoins at the same time until the red resistance line top section is broken -> the new high price is updated. This was a very spicy hellfire analysis article. I don't know if you liked it. I am a person who does it if I have to. The quality can be adjusted as much as I can within my capabilities, so Please refer to it, and please use my analysis articles only for reference and use, and I hope you operate safely with the principle of trading and stop loss. Thank you always.
BYBIT:BTCUSD.PLong
by BitCoinGuide
BTC Surges on Signal of Trump's US Strategic ReserveWith market reactions trending very positive, COINBASE:BTCUSD saw a big surge today as investors were encouraged by Trump's signaled support for large investments in a US BTC Strategic Reserve fund to back up the Treasury Department and their indicators of a more supportive environment for crypto investors and holders in the United States of America. This comes as a welcome change for residents and businesses engaged with building the ever growing crypto economy which will empower free markets, free thinking, and free people. With over $200M USD positive BINANCE:BTCUSD inflows to Binance in the last 12hr, we can only guess what the total inflows look like right now on an hourly or even minute-by-minute basis across all exchanges worldwide. A large spike in trading volume during the day Sunday fueled traders excitement as many were attracted to the market over the weekend. Your reaction to this good news might depend on what kind of trader you are. Are you Microstrategy? Your stock just went up! Personal investors - "this is great! lets see more!". Well a lot of times people expect good and underestimate the downside. It is a great opportunity here to apply reverse psychology and short the market. This strategy is not right for everyone but there could definitely be opportunity for both long and short entry points when using the informative and actionable MACD Strategy indicator on your charting. Perhaps even learnings will come from this. Have a beautiful day, and remember Habibi, the desert tests your will, not your strength. messari.io
COINBASE:BTCUSDShort
by LawrenceOfCoinrabia
$BTC 4Hr Analyzing the CRYPTOCAP:BTC coin chart on the 4-hour timeframe: - **Symmetrical Triangle**: A well-structured symmetrical triangle is visible, with equal angles on both sides, indicating potential for an imminent breakout. The price is currently below the upper resistance line, suggesting a possible upward movement soon. A target around $113k has been discussed based on the pole of this pattern. - **Bullish Divergence**: There have been instances of bullish divergence with RSI on the 4-hour chart, particularly noted in May and July 2024, where the RSI was not confirming the price lows, suggesting underlying strength. - **Bearish Divergence**: Conversely, bearish divergences have also been observed, especially when the RSI was overbought, indicating potential short-term pullbacks or corrections. This was notably seen in November 2024, signaling a possible reset before further upward moves. - **Resistance and Support Levels**: - **Resistance**: Key resistance levels were noted around the psychological barrier of $100,000, with movements above this level suggesting strong bullish momentum. - **Support**: The price has found support at various levels, with significant attention being paid to where the 50 EMA and other moving averages lie, particularly after the price drops. - **Trendline Analysis**: The 4-hour chart often shows Bitcoin testing its trendlines, both as support and resistance. A bullish move is often confirmed when the price breaks and holds above these trendlines. - **Volume and Market Sentiment**: There's been discussion about distribution and HODL-ing behavior, with the Long/Short-Term Holder Supply Ratio dropping, suggesting less long-term holding and potentially more active trading or distribution. - **Price Targets**: Based on various analyses, especially around breakout scenarios from patterns like the symmetrical triangle, targets have been suggested around $113k, with some posts on X indicating this could be reached quickly in a lower timeframe setting. - **Current Sentiment**: The sentiment from X posts shows a mix of optimism for continued upward trends with cautions for potential corrections. The recent activity around $100,000 has sparked discussions on whether Bitcoin will continue its bullish run or face a significant correction. In summary, the 4-hour chart for CRYPTOCAP:BTC shows a battle between bullish and bearish forces, with technical patterns like symmetrical triangles indicating potential for significant price moves. The emphasis on divergences, especially with RSI, gives clues on momentum, while the community on X watches for breakouts from key levels to confirm trend directions. Always consider that crypto markets can be influenced by broader market sentiment, macroeconomic news, and regulatory changes, which can alter technical predictions.
COINBASE:BTCUSDLong
by One1D_Trader
1
Bears showing up !? 🚨 Bitcoin Bears Tighten Their Grip: What’s Next for the King of Crypto? 🚨 CRYPTOCAP:BTC The bears are back in full force, and Bitcoin is under pressure. Recent price drops have rattled the market, leaving traders wondering: what lies ahead for the world’s leading cryptocurrency? 🔍 Key Observations: Bearish Momentum: Bitcoin's recent performance signals a growing bearish sentiment among traders. Market Dynamics: Global economic uncertainty, interest rate speculation, and ongoing regulatory debates are adding weight to BTC's shoulders. Support Levels: Bitcoin is teetering on key support zones—will it hold firm, or are deeper corrections imminent? 💡 How to Navigate This Market: 1️⃣ Stay Informed: Keep a close eye on critical price levels and market updates. 2️⃣ Risk Management: Diversify your portfolio and set stop-loss orders to safeguard your investments. 3️⃣ Long-Term Perspective: Remember, Bitcoin has endured—and bounced back from—similar downturns in the past. The crypto market thrives on resilience. Is this dip a golden buying opportunity, or will the bears take full control? 💬 Drop your predictions and strategies in the comments below!
BINANCE:BTCUSDShort
by AlphaBull-Trading
El Salvador's Bitcoin ReserveElSalvadorBTCReserve : El Salvador's Bitcoin Reserve El Salvador’s bold decision to embrace Bitcoin as legal tender has captured global attention, and its Bitcoin Reserve is now making waves. Here’s the latest: 📈 Bitcoin Reserve Growth El Salvador continues to strategically accumulate Bitcoin for its national reserve, reinforcing its commitment to cryptocurrency and its long-term potential. 💡 A Strategic Economic Move By holding Bitcoin, the country aims to leverage potential price appreciation, a strategy that could transform its financial system and influence global crypto adoption. 🌍 Global Ripple Effect As a trailblazer in adopting Bitcoin as legal tender, El Salvador might inspire other nations to explore similar paths. --- 🚀 What’s Next? 🔄 Continued Accumulation: Will El Salvador keep adding Bitcoin during market fluctuations? 📊 Market Impact: How could this growing reserve influence Bitcoin's global price dynamics? As El Salvador’s Bitcoin journey evolves, the world watches to see how this bold experiment shapes the future of cryptocurrency adoption.
BINANCE:BTCUSD
by AlphaBull-Trading
Navigating the Current Market Turbulence: A Crypto and Stock MarBitcoin is currently trading at approximately $102,200, reflecting a decrease of 2.36% over the last week. Despite a brief rally reaching highs of $108,367.38, the digital currency has faced selling pressure. The Relative Strength Index (RSI) remains above 65, indicating that BTC might still be overbought, while the Moving Average Convergence Divergence (MACD) suggests bearish momentum could persist. Investors should be cautious as the market shows signs of volatility. For cryptocurrencies, monitoring RSI and MACD indicators can provide insights into potential buying opportunities.
CRYPTO:BTCUSDShort
by pBouDib