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BTCUSD.P trade ideas

BTCUSD Bitcoin (BTC) trades slightly down at around $67,500 on Friday after finding support around the $66,000 level on Wednesday, following three consecutive days of decline earlier in the week. While prices are down around 2% this week until Friday, the technical outlook suggests a bullish bias for BTC, projecting a new all-time high of $78,900 in the short-termThis bullish outlook is further supported by the rising institutional demand via ETFs, which recorded inflows of more than $500 million this week. Some analysts suggest that the upcoming US presidential election on November 5 will be one of the main drivers for crypto markets in the short term, while others highlight that institutional investors’ rise in digital assets could fuel the rise in Bitcoin prices.On Tuesday, Bitcoin stabilized at around $67,000 as Institutional demand for Bitcoin declined slightly. According to Coinglass ETF data, ETFs experienced a minor outflow of $87.90 million, ending a streak of seven consecutive days of inflows
BITSTAMP:BTCUSD
by KingForex078
BTCUSD Fundamental FactorsAbsolutely! Here's a breakdown of the fundamental factors that influence the price of BTCUSD: 1. Network Fundamentals: Hash Rate: This measures the computing power used to secure the Bitcoin network. A higher hash rate generally indicates a more secure and resilient network. Difficulty: This adjusts the mining difficulty to maintain a consistent block generation time. Increasing difficulty can suggest growing network security. Transaction Volume: Higher transaction volume signals increased demand and adoption for Bitcoin. 2. Macroeconomic Factors: Inflation: High inflation can drive investors towards Bitcoin as a potential hedge against currency devaluation. Interest Rates: Rising interest rates can reduce the appeal of riskier assets like Bitcoin. Economic Uncertainty: In times of economic turmoil, Bitcoin can be seen as a safe-haven asset. 3. Regulatory Environment: Government Regulations: Positive regulatory developments can increase institutional investor confidence and adoption. Conversely, negative regulations can dampen market sentiment. Legal Status: The legal status of Bitcoin in different countries can impact its accessibility and usability. 4. Market Sentiment and Investor Behavior: Media Coverage: Positive media coverage can fuel investor interest and drive demand. Institutional Adoption: Increased adoption by institutional investors like hedge funds and corporations can legitimize Bitcoin and boost its price. Retail Investor Demand: Retail investor sentiment and buying/selling activity can significantly impact short-term price fluctuations. 5. Technological Developments: Network Upgrades: Upgrades to the Bitcoin network, such as the Lightning Network, can improve scalability and transaction speed. New Use Cases: The emergence of new use cases for Bitcoin, like decentralized finance (DeFi) or tokenization, can drive demand. Important Considerations: Market Volatility: Bitcoin is known for its high volatility, making it a risky investment. Lack of Intrinsic Value: Unlike traditional assets, Bitcoin doesn't have intrinsic value. Its value is derived from its network and perceived utility. Long-Term Perspective: Fundamental analysis is more relevant for long-term investment strategies rather than short-term trading. For a more in-depth analysis, consider checking out these resources: River Financial's Guide to Bitcoin Fundamental Analysis: river.com Bitcoin (BTC) News, Analysis and Forecast - FXStreet: www.binance.com Let me know if you have any other questions!
BITSTAMP:BTCUSD
by ITManager_US
Bitcoin Going to Zero ? The End of Bitcoin ?Before you all feel any trauma or alarm from the title, I urge you to stay calm and read this idea carefully to understand the broader perspective. History of Bitcoin: The Rise of Decentralization Bitcoin's journey began in 2008, when an anonymous figure under the pseudonym Satoshi Nakamoto introduced it through a white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. Nakamoto’s vision was to create a decentralized currency, free from government or central bank control, using blockchain technology. The first block, called the genesis block, was mined in January 2009, marking the birth of Bitcoin. Despite Nakamoto's critical role in Bitcoin's inception, his true identity remains a mystery, leading to much speculation over the years. Some have theorized that he could be a single individual, while others suggest that Nakamoto could be a group of people or even a government agency. After releasing the software and participating in the early days of the network, Nakamoto gradually withdrew from public involvement, leaving the Bitcoin community to grow independently. This disappearance into the shadows has only added to the intrigue and mystique surrounding the cryptocurrency's origins. While Nakamoto remains a key figure in Bitcoin's history, he has remained silent since 2011, with no clear explanation as to why he stepped back. 1. BIS: The Puppet Master of Global Finance The Bank for International Settlements (BIS) is often referred to as the "central bank of central banks" due to its unique role in fostering international monetary and financial cooperation. Established in 1930, it serves as an umbrella organization for central banks worldwide, providing a platform for collaboration and offering banking services to them. The BIS is headquartered in Basel, Switzerland, and its primary objectives are to promote financial stability, monitor economic trends, and facilitate communication between global central banks, such as the Federal Reserve, European Central Bank, and others. Over time, the BIS has played a crucial role in shaping global monetary policies, overseeing financial markets, and fostering agreements between the world's leading financial institutions. It is instrumental in setting regulatory standards and guidelines that many countries' central banks follow. This level of control and influence positions the BIS at the centre of international financial governance, which is critical when discussing the future of currencies, including Bitcoin and the potential shift to Central Bank Digital Currencies (CBDCs). As a body that influences the direction of global banking, the BIS has been actively involved in discussing and exploring the future of digital currencies. Given the growing interest in decentralized cryptocurrencies, such as Bitcoin, the BIS has expressed concerns over the stability of decentralized systems and has advocated for centralized digital currencies to ensure that monetary policy can remain under control, furthering the possibility of a CBDC rollout in the future. 3. Why Bitcoin’s Fall to Zero Could Be a Strategic Move Now, with global economies struggling under record-high debt levels, central banks might see Bitcoin as a bubble ready to pop. The BIS could leverage its influence to push for a CBDC revolution, positioning these centralized digital currencies as “safer” and more reliable alternatives to Bitcoin. By orchestrating a dramatic collapse in Bitcoin, the narrative could shift, convincing the public that decentralized currencies are unstable and unsustainable. CBDCs are fundamentally different from Bitcoin: - Fully controlled by central banks. - Allow tracking and surveillance of every transaction. - Provide central banks the ability to impose negative interest rates or freeze funds. This shift would mark a return to centralized control, with individuals losing the financial freedom Bitcoin promised. 4. Was This the Plan All Along? It’s not far-fetched to believe that Bitcoin’s rise and fall have been part of a larger test. During the pandemic, Bitcoin surged on the back of mass media promotions and institutional FOMO. Billionaires like Elon Musk promoted Dogecoin and Bitcoin, fuelling speculative buying. Yet, when the dust settled, the same institutions that promoted Bitcoin quietly accumulated it during crashes. With Bitcoin at $100,000 now, the euphoric belief in its unstoppable rise mirrors past market bubbles. Could this be the final phase of Bitcoin’s journey before an engineered collapse leads to the introduction of CBDCs as the “solution”? 5. What’s Next? If Bitcoin does crash to zero, it will be a defining moment for cryptocurrencies and global finance. CBDCs would emerge as the dominant narrative, backed by the BIS and central banks, with promises of stability, security, and control. However, it would come at the cost of financial freedom and decentralization. Disclaimer: The post explores possibilities based on historical trends, institutional behaviours, and emerging global financial strategies. While I am not claiming that Bitcoin will inevitably fall to zero, we cannot ignore the potential for this to occur, especially as major players like the Bank for International Settlements (BIS) push for a centralized currency system under the guise of Central Bank Digital Currencies (CBDCs). The BIS, as the central bank of central banks, is focused on pushing for a centralized, controlled financial system, and this has implications for decentralized systems like Bitcoin. They are aiming to promote their agenda of centralization, and in doing so, they seek to control the masses through monetary power, which is in direct opposition to the fundamental principles behind Bitcoin’s decentralized nature. This is not final financial advice, nor am I claiming Bitcoin will necessarily collapse to zero. However, the possibility cannot be ignored, especially when considering the global financial forces at play. I urge you to think critically and keep an open mind regarding these dynamics. What we are witnessing may just be the beginning of a new chapter in the future of money and its control. Let’s keep a close eye on how this unfolds. What Do You Think? Could Bitcoin's journey be part of a larger plan to usher in CBDCs? Are we witnessing the twilight of decentralized finance? Share your thoughts and perspectives below, and share this to make people aware :)
CRYPTO:BTCUSDShort
by GannAstroTrader
147
Could Bitcoin Fall to Zero ? A Closer Look at CBDCs.Bitcoin's journey began in 2008, when an anonymous figure under the pseudonym Satoshi Nakamoto introduced it through a white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. Nakamoto’s vision was to create a decentralized currency, free from government or central bank control, using blockchain technology. The first block, called the genesis block, was mined in January 2009, marking the birth of Bitcoin. Despite Nakamoto's critical role in Bitcoin's inception, his true identity remains a mystery, leading to much speculation over the years. Some have theorized that he could be a single individual, while others suggest that Nakamoto could be a group of people or even a government agency. After releasing the software and participating in the early days of the network, Nakamoto gradually withdrew from public involvement, leaving the Bitcoin community to grow independently. This disappearance into the shadows has only added to the intrigue and mystique surrounding the cryptocurrency's origins. While Nakamoto remains a key figure in Bitcoin's history, he has remained silent since 2011, with no clear explanation as to why he stepped back. 1. BIS: The Puppet Master of Global Finance The Bank for International Settlements (BIS) is often referred to as the "central bank of central banks" due to its unique role in fostering international monetary and financial cooperation. Established in 1930, it serves as an umbrella organization for central banks worldwide, providing a platform for collaboration and offering banking services to them. The BIS is headquartered in Basel, Switzerland, and its primary objectives are to promote financial stability, monitor economic trends, and facilitate communication between global central banks, such as the Federal Reserve, European Central Bank, and others. Over time, the BIS has played a crucial role in shaping global monetary policies, overseeing financial markets, and fostering agreements between the world's leading financial institutions. It is instrumental in setting regulatory standards and guidelines that many countries' central banks follow. This level of control and influence positions the BIS at the centre of international financial governance, which is critical when discussing the future of currencies, including Bitcoin and the potential shift to Central Bank Digital Currencies (CBDCs). As a body that influences the direction of global banking, the BIS has been actively involved in discussing and exploring the future of digital currencies. Given the growing interest in decentralized cryptocurrencies, such as Bitcoin, the BIS has expressed concerns over the stability of decentralized systems and has advocated for centralized digital currencies to ensure that monetary policy can remain under control, furthering the possibility of a CBDC rollout in the future. 3. Why Bitcoin’s Fall to Zero Could Be a Strategic Move Now, with global economies struggling under record-high debt levels, central banks might see Bitcoin as a bubble ready to pop. The BIS could leverage its influence to push for a CBDC revolution, positioning these centralized digital currencies as “safer” and more reliable alternatives to Bitcoin. By orchestrating a dramatic collapse in Bitcoin, the narrative could shift, convincing the public that decentralized currencies are unstable and unsustainable. CBDCs are fundamentally different from Bitcoin: - Fully controlled by central banks. - Allow tracking and surveillance of every transaction. - Provide central banks the ability to impose negative interest rates or freeze funds. This shift would mark a return to centralized control, with individuals losing the financial freedom Bitcoin promised. 4. Was This the Plan All Along? It’s not far-fetched to believe that Bitcoin’s rise and fall have been part of a larger test. During the pandemic, Bitcoin surged on the back of mass media promotions and institutional FOMO. Billionaires like Elon Musk promoted Dogecoin and Bitcoin, fuelling speculative buying. Yet, when the dust settled, the same institutions that promoted Bitcoin quietly accumulated it during crashes. With Bitcoin at $100,000 now, the euphoric belief in its unstoppable rise mirrors past market bubbles. Could this be the final phase of Bitcoin’s journey before an engineered collapse leads to the introduction of CBDCs as the “solution”? 5. What’s Next? If Bitcoin does crash to zero, it will be a defining moment for cryptocurrencies and global finance. CBDCs would emerge as the dominant narrative, backed by the BIS and central banks, with promises of stability, security, and control. However, it would come at the cost of financial freedom and decentralization. Disclaimer: The post explores possibilities based on historical trends, institutional behaviours, and emerging global financial strategies. While I am not claiming that Bitcoin will inevitably fall to zero, we cannot ignore the potential for this to occur, especially as major players like the Bank for International Settlements (BIS) push for a centralized currency system under the guise of Central Bank Digital Currencies (CBDCs). The BIS, as the central bank of central banks, is focused on pushing for a centralized, controlled financial system, and this has implications for decentralized systems like Bitcoin. They are aiming to promote their agenda of centralization, and in doing so, they seek to control the masses through monetary power, which is in direct opposition to the fundamental principles behind Bitcoin’s decentralized nature. This is not final financial advice, nor am I claiming Bitcoin will necessarily collapse to zero. However, the possibility cannot be ignored, especially when considering the global financial forces at play. I urge you to think critically and keep an open mind regarding these dynamics. What we are witnessing may just be the beginning of a new chapter in the future of money and its control. Let’s keep a close eye on how this unfolds. What Do You Think? Could Bitcoin's journey be part of a larger plan to usher in CBDCs? Are we witnessing the twilight of decentralized finance? Share your thoughts and perspectives below, and share this to make people aware :)
CRYPTO:BTCUSDShort
by GannAstroTrader
2
BITCOIN Holding the level - 98000Let's not discard the rally just yet. I see the buyers are still present but the overhead supply is a matter of concern. So, here is my view: Support level - 98000 As long as the price does not close below 97500 on the hourly chart, this is still a buyers' controlled setup. Supply zone - All time high is the only and a very strong rejection zone. BTC will find it very hard to hold and break above ATH. So I am not very convinced about the upside momentum. Possibility: BTC could slowly further move up here and should form a base. The consolidation around the drawn levels could be a nice place to play long or wait for the base breakout above ATH. This is not a recommendation.
CRYPTO:BTCUSD
by NandanChaturvediTrade
Bitcoin Pushed Past $100kMarket Update - December 6, 2024 Bitcoin breaks contain:  The price of bitcoin surged past the $100,000 mark on Wednesday night, setting off celebrations within the digital asset ecosystem. XRP surpasses Tether’s USDT to claim the third spot in market cap:  A new regulatory regime in the United States has boosted the coin’s prospects. Trump chooses crypto advocate for next SEC chair:  President-elect Donald Trump has selected Paul Atkins, a long-time crypto industry advocate, to lead the Securities and Exchange Commission. Alex Mashinsky pleaded guilty to fraud related to Celsius’ collapse:  Facing up to 30 years in prison, his plea represents a broader reckoning after the 2022 crypto winter. DMM Bitcoin will cease operations after a $305M hack, transferring accounts and assets to SBI VC Trade next year:  The hack, linked to suspected Lazarus Group activity, caused widespread service disruptions and financial losses. Bitcoin Surges Past $100K Mark As Momentum Continues The price of bitcoin surged past $100,000 on Wednesday night, breaking through significant selling resistance to reach an all-time high around $104,000 before dipping back below $100,000 Thursday afternoon. Still, the price of bitcoin has risen nearly 50% over the past 30 days, driven by steady spot bitcoin ETF inflows, continued buying from Michael Saylor’s MicroStrategy, and anticipation of a crypto-friendly administration from president-elect Donald Trump. Bitcoin’s push past $100,000 set off a series of celebrations in the crypto community and served as a victory lap for bulls that endured a 2022 crypto winter that saw the price of bitcoin drop below $17,000. Now just two years later, traditional financial actors have increasingly embraced crypto, with analysts setting a $120,000 near-term price target. Analysts at Bernstein said the price could reach $200,000 by the end of 2025. During an interview at the DealBook Summit on Wednesday, Federal Reserve chair Jerome Powell added more legitimacy to the asset class by comparing it to digital gold. The market price of bitcoin measured in gold has hit 39 ounces, an all-time high. “It’s just like gold, only it’s virtual, it’s digital,” Powell said. “ People are not using it as a form of payment or as a store of value. It’s highly volatile. It’s not a competitor for the dollar, it’s really a competitor for gold.” ➕Topic of the Week: Polymarket: A Decentralized Prediction Market 🫱 Read more here
GEMINI:BTCUSD
by Gemini
The Silent Cost of FOMO Trades: What Your Anxiety Is SayingLast Thursday, I watched my 8-year-old nephew at a birthday party, desperately trying to play with every toy, eat every snack, and join every game simultaneously. He ended up in tears, overwhelmed and exhausted, having fully enjoyed none of them. Looking at my trading journal that evening, I had to laugh - I'd done exactly the same thing in the markets that day. The FOMO Frenzy You know that feeling - EUR/USD is climbing, GBP/JPY is breaking out, and USD/CAD is testing support. Your heart races. Your palms sweat. Suddenly you've got positions in all three pairs, and your mind is spinning like a circus juggler with too many balls in the air. What Your Anxiety Is Really Saying That knot in your stomach? It's not just stress - it's your internal risk manager throwing up red flags. Think of anxiety like your car's check engine light. Most people try to ignore it or put tape over it. But what if that warning light is actually your most valuable trading tool? The Real Cost (It's Not Just Money) Last month, I lost 4% of my account in a single day chasing trades. But the real cost wasn't the money - it was: Three sleepless nights Snapping at my wife over breakfast Missing my kid's soccer game because I was glued to charts Taking twice as long to recover my confidence The Birthday Party Strategy Now I treat my trading like I wish my nephew had handled that birthday party. Pick one game. Enjoy it fully. Then, if it makes sense, move to the next one. In trading terms: One trade at a time Full focus on that setup Clear exit plan ]No peeking at other pairs until this trade is managed Your Brain on FOMO Here's what happens when FOMO kicks in - your brain floods with dopamine, the same chemical that makes my nephew grab three cupcakes at once. Your prefrontal cortex (the rational part) gets overwhelmed by your limbic system (the emotional part). Suddenly you're trading like a sugar-rushed 8-year-old. The Solution: Your Personal FOMO Filter I've taped a note to my monitor that asks: "If this were the only trade you could take this month, would you take it?" It's amazing how quickly FOMO evaporates when you frame it that way. I went from taking 15-20 trades per week to 2-5, and my profit has doubled. Your Next Step FIf you find yourself battling FOMO, try this: Each time you feel the urge to place a trade, wait 5 minutes. Just 5 minutes. Write down what you're feeling. You'll be amazed at how many FOMO trades never make it past this 5-minute filter. Remember, the market is like an endless birthday party - it'll be there tomorrow, next week, and next year. You don't have to play every game or eat every cupcake today. Cheers to your success, Gio
BINANCE:BTCUSD
by elevatedinvestor
2
Bitcoin Is SavageAre you not entertained? For those who doubted that Bitcoin would remain volatile, I think we have our answer. Yesterday’s candle had roughly a $12,000 spread on Coinbase - almost $14,000 on leveraged exchanges. This represents roughly 12% - 14% of movement in a matter of hours. At these prices, those are huge moves. Apparently over $2.5B was liquidated from the market, proving once again that using leverage is a very dangerous game. Things still look good - just a huge leverage flush.
COINBASE:BTCUSD
by ScottMelker
Bitcoin Plummet Back to $97K After Surging Pass $100kThe cryptocurrency market witnessed turbulent activity as Bitcoin ( CRYPTOCAP:BTC ) faced a significant flash crash, exacerbated by Mt. Gox’s recent transfer of 3,620 BTC. Combined with over $1 billion in liquidations and strategic market movements, these events painted a complex picture for the world's largest cryptocurrency. Mt. Gox: The Catalyst of Market Jitters Bankrupt crypto exchange Mt. Gox has once again entered the limelight by transferring 3,620 BTC worth millions to two undisclosed wallets. According to Arkham Intelligence, these transactions—3,493 BTC to wallet address 1MAXy6…Ez3NQ9 and 126.577 BTC to bc1qkf…ffm7sf—sparked speculations of creditor reimbursements. While the transfers might prepare the groundwork for creditors to reclaim their funds, they introduce a looming threat of heightened selling pressure, causing widespread concerns in the crypto space. This move follows a recent transfer of 24,000 BTC by the same exchange, intensifying market apprehension. Technical Outlook: Bitcoin’s price dropped to an intraday low of $87,859 before rebounding to near $98,000, following a broader market crash that wiped out over $1 billion in positions. Key levels to watch include: - Resistance: $100,000 psychological barrier. - Support: $94,800 and $92,500, critical to sustaining bullish momentum. The abrupt dip can be attributed to the liquidation frenzy and external triggers such as Meitu's sale of 940 BTC and 31,000 ETH, which realized $80 million in profits. BTC's Resilience Despite recent volatility, Bitcoin’s fundamentals remain robust: Market Cap: $1.93 trillion, with potential to breach $2 trillion by 2025. Trading Volume: $159.5 billion in the past 24 hours, bolstered by Binance and other major exchanges. Key Developments Supporting Long-Term Growth Bitcoin’s resilience and adoption have been fueled by continuous upgrades enhancing its network security, scalability, and decentralization. Broader Sentiment: Mixed Yet Optimistic Despite recent hurdles, bullish sentiment prevails among investors. Marathon Digital’s $850 million convertible note offering for BTC purchases signifies institutional confidence in Bitcoin's long-term potential. However, the interplay between Mt. Gox’s creditor payouts, liquidation volumes, and evolving market conditions requires vigilant observation. Conclusion Bitcoin's journey remains a rollercoaster, shaped by historical milestones and ongoing market dynamics. While the short-term outlook might be turbulent, its robust fundamentals, coupled with consistent upgrades and institutional interest, fortify Bitcoin's position as a leading digital asset poised for a promising future. As the year closes, market participants should remain cautious, leveraging informed strategies to navigate potential volatility while staying optimistic about Bitcoin's long-term trajectory.
COINBASE:BTCUSDLong
by DEXWireNews
BITCOIN $250K - Get Ready to Get RichHello everyone! Today, I’m excited to dive into my latest analysis of the Bitcoin cycle, showcased through a weekly view chart that breaks away from conventional wisdom. Rather than adhering to the often-disputed parabolic curves that have been a staple in crypto charts since 2017—curves which have consistently either underperformed or overshot the mark—I'm bringing something different. My analysis is based on a trend line that I've meticulously tracked since 2013. This line has proven incredibly resilient, never once being undercut as of now in 2024. This steadfast pattern leads me to an ambitious yet attainable target: Bitcoin reaching USD 250,000. This projection suggests more than a doubling from our current position within this cycle’s parabolic phase. Interestingly, the duration of these parabolic phases has been extending with each cycle: 427 days in 2013, 525 days in 2017, 567 days in 2021. Based on this pattern, I anticipate the current cycle will span approximately 600 days, concluding around the end of 2025. I’d love to hear your thoughts and predictions. Where do you see Bitcoin heading in this cycle? Let’s discuss below!
BITSTAMP:BTCUSDLong
by LGNDRY-Capital
Bitcoin Near $100K: Consolidation or Correction?Hello Intrepid Traders, We have here the 1 Hour Chart of BTC/USD pair on Coinbase. Analysis of Bitcoin 1-Hour Chart 1. Support and Resistance Levels Support Levels: $93,000 - $94,000: This level aligns with a previous consolidation zone and the 200 EMA (red). It's a significant support level where the price has previously bounced. $96,000: This is a near-term support zone where the price consolidated before the recent breakout. Resistance Levels: $100,000: A key psychological resistance level that the price briefly touched before pulling back. Breaking above this level would likely attract further buying momentum. $108,000: The next likely resistance zone if $100,000 is broken, based on the height of the previous breakout. 2. RSI (Relative Strength Index) Current RSI: The RSI has fallen sharply below 50, suggesting bearish momentum in the short term. This indicates a cooling off after the recent rally. Overbought and Oversold Conditions: The RSI was previously in overbought territory above 70 during the rally to $100,000. If the RSI approaches the oversold region near 30, it could signal a potential reversal or bounce from support. 3. Price Action Consolidation: The price formed a symmetrical triangle before breaking out strongly upward. The recent pullback suggests a potential retest of the breakout zone (around $96,000). Consolidation between $96,000 and $100,000 is possible before a clear direction is established. Retracement: The price is retracing after the sharp move upward. It is currently near the 50 EMA (green), which could act as short-term support. If this retracement deepens, the next target would be the 200 EMA (red) at around $94,000. 4. EMA Analysis The 50 EMA (green) is above the 200 EMA (red), confirming a bullish trend on the 1-hour chart. A pullback to the 50 EMA or 200 EMA could provide potential buying opportunities if the price rebounds. Possibilities Bullish Scenario: If the price holds above the 50 EMA (green) and consolidates around $96,000, a bounce back toward $100,000 is likely. A breakout above $100,000 with strong volume could target the next resistance at $108,000. Confirmation of a bullish move would include the RSI moving back above 50. Bearish Scenario: If the price breaks below the 50 EMA, it could test the $93,000 - $94,000 support zone near the 200 EMA (red). A break below $93,000 would signal further downside, with the next support likely around $90,000. Disclaimer: This analysis is for educational purposes only and should not be considered financial or investment advice. Trading cryptocurrencies involves significant risk. Always conduct your research or consult a professional advisor before making trading decisions. Final Thoughts The Bitcoin 1-hour chart is at a critical juncture, with the price consolidating after a strong rally toward the key psychological resistance of $100,000. The symmetrical triangle breakout suggests bullish potential, but the current retracement and falling RSI indicate short-term weakness. Key Levels to Watch: Support: $96,000 (short-term), $93,000 (major support with the 200 EMA). Resistance: $100,000 (psychological) and $108,000 (measured breakout target). What to Look For: If the price holds above the 50 EMA and RSI moves back above 50, it could indicate renewed bullish momentum, potentially leading to another breakout attempt. A break below $93,000, however, would signal a deeper correction and a possible trend shift. Trading Strategy: For Bulls: Look for confirmation of support at $96,000 or $93,000 before entering. Watch for a breakout above $100,000 to ride the next leg up. For Bears: Wait for a clear breakdown below $93,000 with RSI staying below 50 to target lower support levels like $90,000. This is a time for patience and disciplined observation. Both scenarios—continued bullish breakout or deeper retracement—are plausible, so managing risk and waiting for confirmation are essential for any trade decision. Leave your questions and comments below. More power to all your trades! Intrepid Trader
COINBASE:BTCUSD
by RSibayan