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Bitcoinlongtermanalysis

#Bitcoin - thoughts out loud #13!!! IT IS IMPORTANT TO READ THE DESCRIPTION !!! Good afternoon, dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. The previous goals were achieved, but under a different scenario. After the asset has been depreciated, we see a surge in volumes at the culmination of sales, followed by a false breakout of the level and the strength of the buyer. There is a setup that can be used to work with, I open a long and support the trade. Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn . #Bitcoin
Long
by WVitalievich
6
#Bitcoin - thoughts out loud #11.Good afternoon , dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. Over the weekend, I expect the cryptocurrency market to form a trading range and move into a phase of redistribution or re-accumulation. The formation is not ready for this period of time, I need confirmation. What are your thoughts on this asset? Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn .
by WVitalievich
#Bitcoin - thoughts out loud #12Good afternoon , dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. And in continuation... In this phase of the market, we have upthrust, which may indicate that we are witnessing a distribution, but there is no confirmation at this time. I expect the price to be in the range of 25300 - 25600 , after which the market will settle everything. Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn.
by WVitalievich
6
Will Bulls push bitcoin higher ??BTC/4H Ascending Triangle with yellow uptrend line and white horizental line Please Boost,Follow,Comment if you find this informative.it really motivates me to do more,really does!!! With the ascending triangle that btc formed and the consolidation at the high of its range showing the bulls might want to push it higher ~26849 then hopefully bears will enter and smack it down. Another possibility is to hit ~26849 then do another bull retest and fill the gap from ~27400 to ~28900. The fact that we are holding here indicates we could fill the gap tomorrow on FOMC we could consolidate today as well due to tomorrow FOMC meeting.Also Liquidity wise there are some high leverage liquidity to the downside Detailed explanation and more information on video Thanks for watching
BINANCE:BTCUSD.PShort
by pcmonk
LONG WINTERInvestor is back, so it´s Bears hibernation time. Guess what, my oldie bull divergence explanatory Bitcoin chart is still alive and ... I think that Bitcoin might be in the anomaly state where HIGH RSI doesnt mean a :poo: bear divergences are painted over higher time frames but yet its ignored and going higher and higher until a huge extended bear divergence smashes for a massive and fast correction and it can even continue growing higher. There is many reasons for this and if you will studdy the chart further and deeply then you might found the key in this work. Yet keep in mind, there is still chance to fail if the RED LINE resistance doesn´t get break threw in a short period of time. This short term chart might be a first confirmation for this theory Can history repeat itself ? Again & again ? Crypto TOTAL market cap to 10T ? s3.tradingview.com The time is NOW ---------------------------- BITCOIN HALVING (MAJOR EVENT) countdown at the time of writing 434days What is the Bitcoin Halving (Halvening)? New bitcoins are issued by the Bitcoin network every 10 minutes. For the first four years of Bitcoin's existence, the amount of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half. The day the amount halves is called a "halving" or "halvening". In 2012, the amount of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5. In the most recent May 11, 2020 halving, the reward dropped from 12.5 to 6.25 BTC per block. In the 2024 halving, the reward will drop from 6.25 BTC per block to 3.125 BTC. ---------------------------- R:R, money management, risk, reward, technique, style, trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond
COINBASE:BTCUSDLong
by Anoinvest
3
This could be your next huge buy opportunityHey everyone, Lets see if I can repeat the halving cycle forecast success as in Apr 2019 because I see very similar conditions no matter what people think of Bitcoin based on fundamentals. This is clearly a technical view. This chart is based on Fear/Greed mutliyear halving cycle ( Supply and demand + greed and fear = cycles) What is Halvening ? In Bitcoin , halving is when block rewards for mining are cut in half. Halving happens at regular intervals based on the Bitcoin protocol. In other words the code underlying the network dictates that X new coins minted as mining rewards for miners adding blocks of transactions to the blockchain will be cut in half every Y blocks until the reward reaches zero and no new coins are mined. Bitcoin halving occurs every 210,000 blocks. Since one block is added to the Bitcoin blockchain roughly every 10 minutes, each halving is about 210,000 blocks x 10 minutes = 2,100,000 minutes = 4 years apart. When is the next Bitcoin Halving: Assuming no major changes, the mining reward will drop from 6.25 BTC to 3.125 per block approx. in Apr 2024 --------------------------------------------------------- What happens when all the bitcoins are mined? The bitcoin inflation rate steadily trends downwards. At the time of writing, more than 3 out of every 4 bitcoins that will ever exist have already been mined, and the annual inflation rate is just 4%. The block reward given to miners is made up of newly-created bitcoins plus transaction fees. As inflation goes to zero miners will obtain an income only from transaction fees which will provide an incentive to keep mining to make transactions irreversible. Due to deep technical reasons, block space is a scarce commodity, getting a transaction mined can be seen as purchasing a portion of it. By analogy, on average every 10 minutes a fixed amount of land is created and no more, people wanting to make transactions bid for parcels of this land. The sale of this land is what supports the miners even in a zero-inflation regime. The price of this land is set by demand for transactions (because the supply is fixed and known) and the mining difficulty readjusts around this to keep the average interval at 10 minutes. ** This is attempt to predict future price movement & not a financial advice ** R:R, money management, risk, reward, technique, style, trading, bitcoin , bitcointrading, profitable trading, profittrading, profit trading, secret, divergence, bull divergence, bear divergence, divergencetrading, divergence trading, trading strategy, how to trade bitcoin , bitcoin trades, bitcoin trading, make profit, take profit, trading strategy, trading technique, successful, successful trader, successful technique, successful strategy, successful secret, how to trade, trend analysis, technical analysis , indicators, rsi , relative strenght index, let it rain, successful life, easy strategy, easy trading, easy technique, make money, crypto investing, investing, crypto, cryptocurrency, cryptocurrencies, mentoring, money, chartart, beyond
BNC:BLXLong
by Anoinvest
2
BTC Struggles Around $21KBitcoin’s price is currently consolidating above the $20K level. The $17K-$20K range is likely to provide significant support, as it is the 2017 all-time high range, and it could initiate a rally in the short-term towards the $30K area.The price would have to break the $24K resistance level and the 50-day moving average before a potential retest of the $30K supply zone. On the other hand, if BTC fails to gain sufficient bullish momentum and the $20K area gets broken to the downside, another rapid drop towards the $15K mark and even beyond could be expected.
by Trader_Needs
1
Bitcoin Update 29/03/22: Short-term Swing Opportunity 65% GainBitcoin on the way to low 80s 🚀 Bitcoin is currently 66% away from the 127.20 fib target @ $79,381. Strong buy Signals on the daily chart from both the Swing Call script for trend direction and the Bull market indicator for short-medium term trades based on momentum...going to be an interesting April/May remember to take profits on the way up! 🚀 Please see previous analysis below. Happy Trading :) Bitcoin Update 26/01/22: Bitcoin ( BTC ) potential bull trap, bouncing 15% before the FED announcement, currently BTC is -45% gain from the ATH reached in November 2021. We currently are in a downtrend, BTC has recovered fast before and we could get the same here. The current RSI on the weekly is close to that of the March 2020 crash (which was a little lower than the current level)..patience will be key, wait for confirmation & price action, large volume back in the market will be key for confirmation of a reversal of the current trend. The FED will be deciding whether they will be hiking the current interest rates, and whether the current quantitative easing will continue or if they will be quantitative tightening. I believe we have not yet reached full capitulation and the $32K level will be very key before finding a true bottom. See previous analysis below. Happy Trading :) Bitcoin Update 19/ 01 /22: BTC Death Cross on 14th January 2022, currently BTC is 63% away from the all time high price @ $69,004. A final capitulation may be in play before we can finally start climbing back up with a steady upward trend direction towards the previous ATH and the $79k target at the 127.20% fibonacci level. It is important to highlight that this final capitulation could occur at any time as long as there is high volume to confirm the bottom for us, a true bottom before a full trend reversal back to the ATH . One of the main aspects of the key capitulation from Dec 2018, March 2020 & May 2021 is that this has always signalled the bottom and the start of a new upward trend for BTC and alt-coins alike. Bitcoin ( BTC ) on the daily chart is showing strong signs of an oversold market and is currently sitting just above a key support level at $40k, currently priced @ $41k. If the $40k level fails to hold as support BTC is on its way back down to retest the 23.60% at $39,694 which is currently -6% from the current price level. This current downward trend we are experiencing may lead to another consolidation period similar to that after the May crash where we saw BTC struggling to get past the 23.60% fibs 3 times consecutively during a 3 month period before finally breaking out in early August. Our AI script signalled a strong Buy Signal on the 28th July confirming the start of the last bull run phase which saw Bitcoin setting a new ATH just under $70K, a 1671% gain for BTC from the March 13th 2020 Bottom @ $3.8k. As mentioned previously during the last year we believe the current cycle we are experiencing is something we have never experienced before (extended super cycle to foster the adoption cycle), old cycles have been broke and it is important to look at new information and data to better understand where we are going in terms of innovation. Technically, looking at the current structure of Bitcoin , we have a head and shoulders pattern, if this pattern plays out, which in a downtrend could see BTC below the bottom experienced in May. *Note this is just technically speaking, when looking at the market and on-chain analysis we can see that they are less and less Bitcoins available on exchanges, that coupled with the current inflation crisis & ongoing money printing are very strong fundamentals signals which are very bullish on the price of Bitcoin . 2022 promises to be yet another explosive year for the industry and like experienced in the past before, during these times you can really sniper in some great discounts for the next leg up 🎯
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
1
Probability shifts in favour of the bulls - but for how long?TLDR; Bitcoin is in the process of forming a higher low on the larger timeframes (Daily/Weekly) within the range that it has sat in since April 2021 (range boundaries are roughly 60-70k area and 30k area). This increases the probability that Bitcoin will make an attempt at the all-time high and potentially head on up to extended targets of 75k and 100k. These are my ultimate areas of interest for the completion of the major bull trend we are in, starting from the 3k low and confirmed with the breakout above 12k. This post looks at the possible scenario that has a favourable probability of evolving should bitcoin retain value above the local low of 33k-40k and dives into what is going on behind the scenes that makes this important. I will run through the logical steps traders make to contextualise the market condition in order to establish A) the rough probability of future price action B) the risk involved with trading. When professional traders look at a chart, they begin by zooming out entirely. They IGNORE the most recent candles (for the time being) and instead look at the overall picture the chart presents, attempting to contextualise what has been the overarching vibe behind price for this asset. Usually looking only at the daily or weekly chart (professional traders don't care about smaller timeframes unless day trading), the most simple way you can think of this is by asking "has price generally been going towards the top right of the screen, bottom right, or flat (otherwise known as bullish trending, bearish trending & ranging). So let's start here (follow along with the numbers listed on the chart): 1: Here we see extremely strong bullish trending by Bitcoin, reaching a high of 65k. Not only did price massively increase but there was only one small pullback in January 2021 where price paused for a relatively small amount of time. The short-lived length of this pullback, combined with the strength of the bullish impulse gives us a glimpse into the psychology of market participants and the market as a whole during this time. Simplicity is our best friend as a trader and, while it might sound extremely obvious, this price action tells us A) lots of people were very interested in buying bitcoin at any price. Rather than waiting for the January pullback to retest the 20k support or retrace any significant amount, buyers simply weren't keen on waiting. B) Market participants thought Bitcoin was so valuable that they did not want to sell in any significant amount until Bitcoin had reached the 65k area, a whooping 1000/1500% increase since the 3k March 2020 low. While the influences of market participants are different at the time of writing, the psychological behaviours/habits/rationals of participants back then that led to these two things casts a shadow on the current price and where it might go. In a technical sense, this is described as "giving bullish sentiment to current price action", but in normal speak this means "the chance of people buying again as before is higher than everyone suddenly changing their mind and selling." Even inexperienced traders subconsciously know this - ask yourself if you still think bitcoin is going to 100k like you did back then? Most of you will subconsciously still have the same hope/greed/bias EVEN THOUGH we have spent a year bouncing around between 30k-60/70k. The only difference between you and a professional trader is that they are able to realise, act and control this subconscious drive. As such, the pausing of the trend while Bitcoin ranges between 65-30k has a bullish taint to it. 2: The bullish trend paused itself in a bang at 65k. If you think of bullish price action as nothing more than more market participants wanting to buy than sell, eventually when an asset appreciates a lot in value it will reach a point where the number of people willing to buy that increasingly expensive asset dries up. Those looking to sell for a profit increase, shifting the majority of peoples actions away from buying and instead towards selling, ultimately making the price go down. As the price goes down, the exact same metrics apply - if more people are still willing to sell the asset for cheaper and cheaper than those willing to buy it for a discount compared to what it used to be, then price will continue down. Price pauses and stops dropping when enough people think "ah that's cheap now!" and enough sellers think "ah dam it's too cheap to sell so I won't bother" OR "I've sold everything I own and now it's cheaper than before so I will buy". This gives us some important information. IF Bitcoin had reached its high of 65k and then plummeted all the way back down to 20k or lower, this would tell us that A) there were a lot of people willing to sell for 30/40/50/60/70/80% what Bitcoins value had been B) there was no one willing to buy Bitcoin at a big discount. INSTEAD, buyers were found at 30k and this then sets our two range areas. From this, we can say: 65k is where participants thought it was too expensive to buy while sellers thought it was a good time to sell, and 30k was where participants found the discount attractive enough to step in and sellers had either sold all their inventory or it was too cheap in their minds to sell. With this, we can paint our range boundaries and say - if price goes beyond these two areas SOMETHING is changing compared to before. 3. This concept of "something" having changed is demonstrated when we broke the all-time high of 65k in Nov/Oct 2021. We don't need to know what changed (maybe institutions were buying / maybe technology in blockchain was getting lots more investment) all we need to note is that something made people think "I'm going to keep buying!" even when we hit that 60k resistances area were back in January 2021 those same participants thought price had become too expensive to buy and more people had been willing to sell. The importance of noting this is, combined with the "shadow" of the bullish trend of 2020, allows us to understand that there is an increased probability of Bitcoin eventually resuming its bullish trend and heading on up to our extended price targets of 75k-100k areas, or ATLEAST breaking the all-time high again RATHER than breaking the 30k resistance zone. 4. This same understanding of market psychology and comparing price action can also be used for the most recent low of 33k area and allows us to begin to understand what might be the most probable path for Bitcoin. I say "most probable" because you must ALWAYS remember trading is a game of probability and while things may seem certain because of XXX there is always the chance that a 1% black-swan event may come out of nowhere and mess everything up (Covid/ 2008 housing crash / Russia invading Ukraine). It is looking like Bitcoin has made its low and is primed for more bullish action. In a simple sense, this tells us that unlike back in May-July 2021 buyers were much quicker at stepping in and sellers less enthusiastic at selling at these current prices. Not only this but the relatively short-lived time spent below 41k also gives huge weight to this argument. Similar to the break of the all-time high, this tells us that buyers across the board since the 65k high in April 2021 have been keen to snap up bitcoin at increasingly more expensive prices and less keen to sell for cheaper prices. Combine this with the bullish taint of the previous bullish trend from 2020 and we can fully understand the probabilities that we are currently sat in - a bullish range breakout is more probable than not. For this to be even more true over the next few weeks/months, I would like to see a number of strong impulses with very little/flat retraces. This will tell us that sellers just aren't there and, if those retraces are small like that of January 2021, buyers are super keen to jump in whatever the price. The less of this kind of selling consolidation we see the more weight this gives to the bullish argument that is already strong considering the points made in this post. 5. Now we have established the rough probability of one path of action, we must consider that there is always the chance for that to not happen. As such, we need to know the risk involved in this market. The risk is basically "how much can I lose". I can't tell you how to do this step as only you know your entries, but what I can tell you is the conditions for the above scenario to fail, which would shift probability in favour of more downward selling and so the probability that "risk" to your positions will emerge. This can play out in two ways. A) We fail to maintain price above 41k over the coming weeks, with no strong impulses up. Instead, a retest of the 33-40k area occurs where price hesitates and remains for a few weeks. If this were to happen it would tell us that people are just not buying as the less time we spend at support = the more buyers that are there and so the stronger that support is / higher prices will bounce off of it due to bullish momentum. It is relatively common for a retest of the lows to occur so some kind of minor higher low, potentially of 38k has a high chance of evolving but to give more favour to the wider bullish scenario of breaking the all-time high I'd prefer not to see this. B) Bullish momentum from the lows carries us towards the middle of the range at 50k (remember the range is 60-70k range high and 30k range low), where we see sellers stepping in and pushing price down towards the lows again. This would tell us that UNLIKE in April 2021 and Oct/Nov 2021 where sellers waited for 60k+ to start selling properly, those same sellers are happy with selling at 50k. This would tell us that "something" has changed since those highs and so there is an increase in the probability that the buyers who have stepped in between 30k-40k two times in the last year may not be there to buy again. As such, this would shift probability in favour of the 30k area breaking and us truly entering into some kind of a bear market. To be completely clear, I do not think this will happen but we still must understand the paths Bitcoin could take in the future - we never try to predict, we only prepare. Conclusion: Bitcoin has created a bullish trend that has paused to range between 60-70k and 30k. The bullish trend preceding taints this range bullish (creating a bullish tainted range). More evidence that bullishness still remains below the surface has emerged over time with the slight break of the previous all-time high and buyers stepping in faster and slightly higher in the last month than the last time we hit the 30k area in May-July 2021. Strong impulses back towards the all-time high would indicate a bullish breakout of the 60-70k area is imminent, while risk is presented in the form of a faltering of bullish impulses and a strong bearish impulse somewhere between 50-55k bringing us back to below 41k. M.
Long
by MarcusAurelius161
Bitcoin Longterm Update 20/01/2022 $290k TargetFrom the current structure, it looks like Bitcoin (BTC) may be retesting the key support level @ $40k..a potential bleed incoming. If we fail to hold $40k as our key support level, BTC may fall further, retesting the 23.60% fibs @ $39,694 Further to this, the Sovereign A.I script has just triggered a Sell Signal on the Weekly timeframe (Not to be too alarmed, we are still bullish on BTC), it looks more than likely that we may experience a longer period of this downward trend (already 6 weeks in). I believe if BTC finishes above $46k-$47k this month then we may regain market sentiment. As it stands, we are just days away from a big breakout of this descending wedge towards $49k or the more gloomy scenario in the short-term which would see BTC retest the previous key support and may further to the May Bottom $20k. This is the capitulation which will fuel the next parabolic phase as we go into late Q2, Q3 and the road to $100k is still plausible after the climb back to retest the previous ATH @69,004. looking back at the past year BTC has been consolidating in a range between $28k-$70k, further capitulation will only fuel the next impulsive run for Bitcoin, have a look at this potential scenario.. 551% Gain for Bitcoin at the current price to the full fib extension @ $290,017, and from the lower price range if we fall further during this extended cycle, it is a 694% gain @ 50% fibs ($34,172) to the full fib extentsion
COINBASE:BTCUSDLong
by CryptocurrencyMagnet
Bitcoin Update 05/08/21: Support above $51k Key, Next Stop $57k Bitcoin has been in a steady accumulation range between $46k-$51k for the past 23 days. From this key level we can expect continued bullish momentum towards the upside to the next key level of resistance at $57k. Currently Bitcoin is 25% from its ATH price @ $64k. If we can have a clear break of this resistance and hold above $51k flipping it into support we can expect a bullish run towards the $57k resistance, this move might be met with some heavy resistance above this key level as $58k-$60k is a key psychological barrier for Bitcoin. The next few months are critical for BTC as bullish momentum could see the 127.20 fib target at $74k. Please see previous analysis below :) Happy Trading! $50K incoming again for the weekend 🚀, if we can break resistance and hold above $51k flipping it into support we can expect a bullish run towards $57k resistance. The next few months are critical for BTC as bullish momentum could see the 127.20 fib target at $74k. Please see previous analysis below :) Happy Trading! Bitcoin Update 21/08/21: Road to $74k is clear, but first Bitcoin has to break above $51,068 and flip this into support for the next leg up to the 78.60% Fibonacci level at $57,125. If Bitcoin can flip the 61.80% fibonacci level into support we could see bitcoin approaching the $60K region looking to push for a new ATH . The 61.80% fibonacci level is a key resistance level and a level where we previously saw large amount of whale accumulation in the previous run before the May crash. In another possible scenario we could see Bitcoin retracing and consolidating in the short term but when we look on the lower time frame 4H, the swing call script has just triggered a strong buy signal showing continued bullish momentum for Bitcoin . It is official the Bitcoin Bulls are back!! Please see previous analysis below. Happy Trading :) Bitcoin Update 14/08/21: Update: Currently 4% Gain from this Short-term Swing Opportunity, stops just below $43,812, TP @ $51,068 at the 61.80% Fibs, additional TP at the 78.60% @ $57,125 (19% Gain from current price level). Please see previous analysis below. Happy Trading :) The Bitcoin Bulls are Back! After setting a new ATH @ $64,841 in April, Bitcoin experienced its the first major sell (some may say manipulated) off in this Bull Run Cycle (-50% from the top). We have been closely watching the BTC chart for a strong trend reversal signal. From the ATH @ $64,841, Bitcoin formed a triple bottom in the $28-30k region, the last bottom experienced on the 21st July is confirmed as our bottom here. The Swing Call Script gave further confirmation of the strong trend reversal as a Buy signal was triggered on the 4H Chart on the 22 July and further on the 6th August showing strong signs of bullish momentum back into the market. From here we expect BTC to retest the current ATH @ $64k which is a 40% Gain from the current price @ $45k. Further to this, we can expect some heavy resistance between the 61.80% - 78.60% fibonacci level. A clear break past the 78.60% fibonacci level see BTC setting a new ATH at the 127.20% fibonacci level. Please see previous analysis below. Happy Trading :) BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below. Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. #Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from £BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 #BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
2
Bitcoin Update 21/08/21: Road to $74k, but first break $51,068Bitcoin Update 21/08/21: Road to $74k is clear, but first Bitcoin has to break above $51,068 and flip this into support for the next leg up to the 78.60% Fibonacci level at $57,125. If Bitcoin can flip the 61.80% fibonacci level into support we could see bitcoin approaching the $60K region looking to push for a new ATH. The 61.80% fibonacci level is a key resistance level and a level where we previously saw large amount of whale accumulation in the previous run before the May crash. In another possible scenario we could see Bitcoin retracing and consolidating in the short term but when we look on the lower time frame 4H, the swing call script has just triggered a strong buy signal showing continued bullish momentum for Bitcoin. It is official the Bitcoin Bulls are back!! Please see previous analysis below. Happy Trading :) Bitcoin Update 14/08/21: Update: Currently 4% Gain from this Short-term Swing Opportunity, stops just below $43,812, TP @ $51,068 at the 61.80% Fibs, additional TP at the 78.60% @ $57,125 (19% Gain from current price level). Please see previous analysis below. Happy Trading :) The Bitcoin Bulls are Back! After setting a new ATH @ $64,841 in April, Bitcoin experienced its the first major sell (some may say manipulated) off in this Bull Run Cycle (-50% from the top). We have been closely watching the BTC chart for a strong trend reversal signal. From the ATH @ $64,841, Bitcoin formed a triple bottom in the $28-30k region, the last bottom experienced on the 21st July is confirmed as our bottom here. The Swing Call Script gave further confirmation of the strong trend reversal as a Buy signal was triggered on the 4H Chart on the 22 July and further on the 6th August showing strong signs of bullish momentum back into the market. From here we expect BTC to retest the current ATH @ $64k which is a 40% Gain from the current price @ $45k. Further to this, we can expect some heavy resistance between the 61.80% - 78.60% fibonacci level. A clear break past the 78.60% fibonacci level see BTC setting a new ATH at the 127.20% fibonacci level. Please see previous analysis below. Happy Trading :) BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below. Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. #Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from £BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 #BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
3
Bitcoin Update 14/08/21: New ATH Target @ $77,335 The Bitcoin Bulls are Back! After setting a new ATH @ $64,841 in April, Bitcoin experienced its the first major sell (some may say manipulated) off in this Bull Run Cycle (-50% from the top). We have been closely watching the BTC chart for a strong trend reversal signal. From the ATH @ $64,841, Bitcoin formed a triple bottom in the $28-30k region, the last bottom experienced on the 21st July is confirmed as our bottom here. The Swing Call Script gave further confirmation of the strong trend reversal as a Buy signal was triggered on the 4H Chart on the 22 July and further on the 6th August showing strong signs of bullish momentum back into the market. From here we expect BTC to retest the current ATH @ $64k which is a 40% Gain from the current price @ $45k. Further to this, we can expect some heavy resistance between the 61.80% - 78.60% fibonacci level. A clear break past the 78.60% fibonacci level see BTC setting a new ATH at the 127.20% fibonacci level. Please see previous analysis below. Happy Trading :) BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below. Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. #Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from £BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 #BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
3
BTC/USD: Looking Bearish (short term)Overview: As many others might suggest, BTC's bull run and dominance has seemingly come to an end . Personally, I believe this was long over due. Its technology as a whole is fast, secure, and reliable; but when considering BTC relative to the thousands of other cryptocurrencies it is superior in popularity but not much else . Elon Musk recently commented on BTC's energy inefficiencies, as it is very costly to mine, and the negative effects it has on the environment. While he is a public figure, do not be so foolish as to think he is the one who is responsible for BTC's retracement... BTC has grown exponentially over the past year alone. It deserves a consolidation period and time for reconsidering its energy consumption. Elon is only pointing out what most of the experienced crypto traders already knew. Comparative Analysis: BTC's Dominance (shown in orange) you can see has peaked at the beginning of 2021, with a high of ~70%, and has gradually been tapering off to almost 40%, as of today. The Total Crypto Market Cap (shown in purple) has closely correlated with BTC's run. This was true until May 4th (highlighted in yellow) when BTC's dominance moved less than 50% and we see this correlation die off. Technical and Fundamental Analysis: Technical: BTC is started to look bearish on a decreasing monthly volume, reaching its March lows. BTC is starting to look bearish as it retests March lows. Could see lower lows if it fails to rebound on the retest. If we see a spike in volume without it rebounding back towards VWAP, BTC may be especially bearish short term. Looking at the Volume Profile (VP) the price level with highest volume is shown at ~$18,500 and this is where BTC might be headed Fundamental: Just looking at the energy efficiency of BTC, things look quite bearish. However, BTC adoption among investors, banks, the general public, and merchants is increasing rapidly. This is good news as BTC should start to stabilize and become less volatile. With the largest crypto market cap, ~$1 trillion, it likely wont see much growth in BTC until ETH, DeFi, and the other sectors within crypto catch up. Trading Discussion (NOT financial advice): Watch for lower lows and monthly volumes. If BTC gaps down in the coming weeks it may be wise to hold until it flushes back upwards and sell afterwards. There are many opportunities for growth even if BTC is bullish. For BTC lovers & HODLers continue holding as you please but do some research and see what developers are working on. If devs are working towards switching BTC from PoW to PoS or some other energy efficient protocol for validating the blockchain then see what that timeline looks like. If BTC does migrate to PoS then decide a good entry point right before the protocol is scheduled to migrate and you might find yourself in a great position for another bull run in the future. Chart Description: Symbol: BTCUSD Index (Bitcoin price in USD index) Comparing Symbols: CRYPTOCAP BTC.D (Bitcoin's % Dominance in Total Crypto Market Cap) CRYPTOCAP TOTAL (The total market cap of all cryptocurrencies) Indicators: Log scale Volume w/ 30d MA VWAP (anchored on the monthly) Volume Profile (180d)
INDEX:BTCUSDShort
by BowTiedJoe
Bitcoin's next move: Rise or Fall? Hello Everyone, I wanted to make a post about my current opinions of Bitcoin. Although I am a bull, I do believe bitcoin is overdue for at least one red month or two and we are starting to see signs of market exhaustion. With what seems as if every large financial institution and tech company is investing in bitcoin, why do I think this? Well, the market is still an algorithm. People are people and need to take home profit to support themselves. Some people have held since $20,000 and may want to take some profit. These types of things will trigger a sell off. Let's also not forget about the technicals: 1. Bitcoin's monthly, weekly, and daily charts are showing bearish price action with volume going down as price going higher. This could also be known as market exhaustion. 2. Bitcoin has failed to close a daily and weekly candle above $60,000. 3. Bitcoin continues to fail to close above our "Heart-line" which is the dotted line in the middle. Rejection could lead to another sell off. 4. Bitcoin has yet to bounce off the weekly 20MA or 50MA which it did several times in the 2017 bull market. 5. RSI is showing bearish "tops" as we are moving higher in price and lower in RSI. 6. MACD is showing clear waning buying momentum or possible exhaustion on the weekly and daily charts. Now, with all of this said, these are the technicals. Volume could come in and we could pump to considerably higher price points. We could just consolidate between $50,000-$60,000 for a while. But in my opinion, if volume does not start to come in, we will not hold above $60,000 and honestly a 15-25% correction would be very beneficial and healthy. I am personally waiting to DCA on a large dip. My buying targets are: $45,000, $50,000, and $55,000. Please leave a thumbs up if you liked the post and comment your opinion below. As always, be patient, use risk management, and good luck trading.
COINBASE:BTCUSD
by RomanXIV
2
Prediction for Bitcoins next top extrapolated from historic dataHello everyone. I saw a post about a prediction for Bitcoins next top that was just ghost candles from last bull run slapped on top of their expected next bull run with an expected high of roughly 300000. I didn't necessarily agree so I figured I'd give my perspective. Historically speaking, Bitcoin has grown logarithmically over the years in such a way that the percent growth of one bull run is half that of the proceeding bull run with a margin of error of about ~6%. If you take the percent growth from last bull run, 1578%, cut that in half and extrapolate that information to the next bull run using the historically accurate logarithmic growth curve as a guide for a stopping point you'll see Bitcoins next top ranging from $150000/BTC to $200000/BTC sometime in the next few years. This all assumes that Bitcoin will continue to grow and that the logarithmic growth curve will hold up. For all intents and purposes, the boundaries of this indicator could certainly be broken to the up or downside due to extenuating circumstances. Feel free to reach out with comments, questions or concerns.
BNC:BLXLong
by CombJelliesAreCool