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BTC/USD – Cup and Handle Formation with Major Breakout PotentialBitcoin is showing a classic Cup and Handle formation on the daily chart, a bullish continuation pattern. After the completion of the cup, Bitcoin has formed a downward sloping handle, which suggests the market is consolidating before a potential breakout. Using technical analysis, the projected target after the breakout is around $112,000 , based on the height of the cup added to the breakout point. The breakout from the handle is expected to push BTC beyond the $70,000 range, aiming for the next significant resistance levels. As we wait for confirmation, a close above the handle's trendline would signal the start of a new bullish phase for Bitcoin. This setup follows the historical price pattern and could be a long-term opportunity for traders and investors watching BTC/USD.
Long
by yaronsb
Bitcoin BTC price trading plan to the end of 2024Last week was full of macroeconomic events, we write about it at previous idea The cryptocurrency market took them positively and grew on rumors. There is a legendary quote: “Buy on rumors, sell on facts.” Therefore, we do not rule out that this week OKX:BTCUSDT and the crypto market in general may plunge into correction. Still, we need BTC.D - 57.7% and USDT.D - 5.50% to fall significantly lower for the market to really “come to life” Fear and Greed Index (neutral) - 50 As long as CRYPTOCAP:BTC price is above $57,000 , it is globally in an upward trend and at the same time in a protracted consolidation since May 2024. Perhaps a confident exit from this consolidation will take place in November, after the US elections on 05.11 and the next Fed rate cut on 07.11 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
BTCUSDT Key Resistance ZoneBTCUSDT has recently reached a KEY RESISTANCE level on the 4 hour timeframe. We've seen multiple rejections from this zone in past data, showing strength in the SHORT trade, where it may look to initiate a BEARISH trend. The key to this movement is waiting for a definitive move via BIG VOLUME CANDLES, price could reject off the zone temporarily and retrace back to the resistance zone where it could break. We need undeniable big volume indicating a rejection or breakout.
by I3ig_Trades
The difficult path for Bitcoin: don’t Miss the Critical EntryGood morning and good afternoon, traders 🌅. Welcome back to Strategy Master, the only crypto newsletter that dissects market cycles and alerts you before major reversals 🔄. Quick summary before we dive in: ✍️ Bitcoin’s 60-day Cycle low hit on September 6th – what’s next? ✍️ Ideal entry points for 1D, 3D, and 1W Cycles explained 🕵️‍♂️ 🎯The 26-Week Cycle breakdown – what to watch for in 2024 📅 🔔 Why Bitcoin staying above $50k is key to the current cycle 💪 As anticipated, Bitcoin hit its 60-day cycle low on September 6th and has been climbing 📈 ever since. Interestingly, Bitcoin showed impressive resilience, starting its upward move even before reaching the expected bottom of the 1-week cycle. Ok, Strategy Master, this sounds great, but I missed the trade! Where are the best entry points according to Cycle theory? 🎯 No worries 😅—cycles give us the clearest signals for optimal entries. Here’s where to look: ⏳ 60-Day Cycle: The best entry comes near the cycle lows (see the pink box 📦 around early September). If you missed this one, your next chance will come in about 45 days. 📉 1-Day Cycle: Wait for the 1-day cycle to reverse from falling 📉 to rising 📈 (ideally when the indicator is below 20). The last time it flipped was on September 16th. Typically, after hitting 80, it takes ~7 days to return to 20 again. 📊 3-Day Cycle: The ideal time to enter is when the 3-day cycle indicator starts rising 📈, or when it’s below 20. However, the 1-day cycle must also be in the right position. If the 3-day indicator reverses upwards but the 1-day is still above 80 ⚖️, it’s better to wait for a cool-down. On September 17th, both the 1-day and 3-day cycles lined up perfectly. 🗓️ 1-Week Cycle: This cycle is more significant 🔑 than the 3-day because it reflects a longer trend (1-2 months 📅). You can enter once the 1-day condition is met—no need to wait for the 3-day confirmation. Again, September 17th presented a perfect setup (1-week reversal) 🎯. Strategy Master, you’ve previously mentioned Bitcoin’s 26-week cycles. How does that fit into this picture? 🤔 Bitcoin operates on 60-day cycles, with three such cycles typically making up one 26-week cycle. In bull markets 🐂, the first 60-day cycle is usually the strongest 💥 and tends to be “right-translated” (the peak occurs in the second half of the cycle). The final cycle, however, is often “left-translated,” with the top appearing in the first 30 days. In early 2024, we saw the 26-week cycle bottom in January 🏞️, followed by a strong rally from February to March 🏁. However, after that, two left-translated 60-day cycles led us to the 26-week cycle low in July. It’s important to remember that 26-week cycles don’t always last exactly 26 weeks ⏱️. Since 60-day cycles can vary from 45 to 68 days, 26-week cycles can stretch from 20 to 30 weeks 📅. Rarely, they can even deviate beyond that, as we saw in August 2023 when the 26-week cycle lasted just 13 days before kicking off the current bull run 🚀. To better time these cycles, use the 1W Cycle Indicator or the Weekly Stoch RSI (set RSI and Stoch Length to 9) to identify 26-week cycle bottoms 🔻. Ok, Master, what if the first 60-day cycle of the 26-week cycle is bearish 🐻, like it was this time? When the first 60-day cycle is bearish 😓, the odds lean heavily toward a bearish 26-week cycle. Look back at previous bear markets 📉 and their weekly cycles to see the pattern. If the start of the 26-week cycle doesn’t surge upward 🛫, it’s usually a signal of a bearish cycle ⚠️. In such cases, it’s often wiser to wait for the next 26-week cycle low before entering the market ⏳. So, is the current 26-week cycle starting bearish too? Correct! ✅ That’s why I’m not allocating heavily 💡 right now. Based on traditional weekly cycle patterns, it’s better to wait for the 26-week cycle bottom before making any major moves 📉. Bitcoin could reverse its trend by the end of 2024 The market is in an unusual state 🌀. Both the Stoch RSI and the 1-week cycle indicator aren’t giving clear signals ❓ for the next cycle, and Bitcoin has had two failed weekly cycles in a row 🚩 (when the cycle fails to hit 80 and reverses downward). This makes it a particularly risky time ⚠️ to enter the market for the short to medium term (1-2 months 📅). But wait … we can’t break the $50,000 level, right? 💵 We can, but if it happens, the break is likely to be brief 🌬️, making it a great buying opportunity 💼. Given the current conditions, it’s improbable that we’ll slide into a full-blown bear market 🐻 just yet. In the most likely scenario, Bitcoin will stay above $50,000 for the remainder of this 26-week cycle, showing just how resilient it is 💪.
BINANCE:BTCUSD
by TheStrategyMaster
FED CUTS RATES NOW WHAT?!?The FED has cut rates by .50bps and there are more cuts are expected so the meeting in OCT will be on to watch if we get another 50 or even a 25 we will be looking a pumptober. BTC went as high as 64,000 in the days after the decision, if we look at the volume profile we can see we are resting on the top of a big gaps that if broken we could see a drop to 59,000-60,000. I’m cautious here the combination of gold being at an ATH and the QQQ dipping at the end week with the FACT that historically rate cuts have lead to the ST declines plus the future have a negative lead on spot if we can hold this level though I will open of a position long but I will be very fast to take profits. Also options have been approved for IBIT now the OCC and CFTC have to approved them before they list but this is very very bullish. The big boys trade mainly in options due to the fact you can be non directional and well trad fi degens are the OG degens and they like leverage. Overall I’m bullish and I think 2025 will be the banana phase so prepare for opportunities now not that that anyone asked.
Long
by TradeBroInc
Federal Reserve Cuts Interest Rates by 50 BPS, Crypto RalliesMarket Update - September 20th, 2024 Takeaways The Federal Reserve cuts rates:  The Federal Reserve announced Wednesday it will cut the federal benchmark interest rate by a half-percentage point (50 basis points), lowering the range to between 4.75% and 5%. Crypto markets responded well to the move, with the price of bitcoin pushing past $63,000. US crypto legislation still possible this year:  US senator Cynthia Lummis (R-WY) said in an interview Tuesday she thinks crypto legislation could be passed during the lame-duck session of Congress. US spot bitcoin ETFs pull in $187 million in inflows:  US spot bitcoin ETFs drew $187 million in inflows Tuesday, marking the fourth consecutive day of inflows after a significant drawdown. Republicans ask for clarity on crypto airdrops:  US representative Patrick McHenry (R-NC) and other top Republican lawmakers sent a letter to SEC chair Gary Gensler asking for clarity on crypto airdrops. Federal Reserve Cuts Interest Rates by 50 BPS, Crypto Rallies The Federal Reserve announced Wednesday it is lowering the benchmark federal funds rate by a half-percentage point (50 basis points) to between 4.75% and 5%. It marked the first interest rate cut in more than four years and signaled the Federal Reserve is ready to ease up on its fight against inflation. The move marked the first time since 2008 the Federal Reserve had cut interest rates by 50 basis points at one meeting. Many analysts had expected a quarter-point percentage cut, but cooling inflation and a soft labor market allowed Federal Reserve chair Jerome Powell to be more aggressive. In August, the Consumer Price Index (CPI), a key inflation metric, dropped to 2.5% year-over-year, roughly hitting Powell’s 2% inflation target. The long-anticipated move sparked the broader markets. And crypto prices also rallied, with bitcoin pushing to roughly $63,500 and ether increasing to roughly $2,350 respectively. A low interest-rate environment is widely viewed as a greenshoot for risk assets including crypto, but it remains to be seen if a rate-cutting campaign will ultimately shoot bitcoin and other cryptocurrencies to all-time highs. 🌐 Topic of the week: Global Stablecoin Ecosystem 🫱 Read more here
GEMINI:BTCUSD
by Gemini
Federal Reserve Cut Sends Bitcoin UpThis week, the Federal Reserve delivered a highly anticipated 50 basis point interest rate cut, the first of its kind in over four years. Crypto markets, as expected, reacted swiftly, with Bitcoin jumping over 4% and breaking past the $62,000 level. The broader cryptocurrency market followed, with Ethereum, Solana, and others posting gains as investors recalibrated to the Fed’s more dovish stance. But while the headlines may paint a picture of optimism, market sentiment remains divided. For some, this rate cut signals the beginning of a new liquidity-driven rally. For others, it raises red flags about the health of the economy. At first glance, the Fed’s decision was a boon for risk assets. With the dollar weakening, Bitcoin benefitted as investors sought alternative stores of value. In just a day, Bitcoin crossed the $62K mark for the first time in weeks, while Ethereum hovered around $2,350. But traders are already questioning how long this rally can last. A significant portion of the crypto market remains unconvinced. Analysts are cautious, noting that the aggressive nature of the rate cut might signal deeper economic concerns. The 50 bps reduction, larger than initially predicted, seems to be an attempt to stay ahead of a potential economic slowdown, with rising unemployment and muted inflation indicating trouble on the horizon. Despite the positive price movement, questions remain. The $1.6 billion in Bitcoin and Ethereum options set to expire this week could lead to increased volatility, with a put-to-call ratio suggesting that traders are evenly split between bullish and bearish positions. Bitcoin’s maximum pain point sits around $58,500, raising the possibility of near-term price declines if the market takes a turn. Looking ahead, traders are already placing bets on further rate cuts. With the next Federal Open Market Committee (FOMC) meetings scheduled for November and December, expectations are building for an additional reduction by the end of the year. However, the size of the cut remains to be seen. Polymarket, a popular crypto prediction market, indicates high uncertaintly as to the size of the cut. Currently, traders see a 57% chance on a 25bps decrease. This has prompted speculation that Bitcoin could retest its all-time high, but there are also plenty of risks ahead. Additionally, the timing of the next rate cut is crucial. If the Fed’s easing aligns with the US presidential election in November, the market could experience heightened volatility. Although pro-crypto stances from candidates like Trump are seen as positive for Bitcoin, uncertainty around the election could still rattle investor confidence. For now, the market is cautiously optimistic. Bitcoin’s surge post-cut is encouraging, but it’s still too early to declare the start of a new bull run. Institutional inflows, buoyed by the growing popularity of Bitcoin and Ethereum ETFs, suggest that long-term sentiment remains positive. However, it’s clear that many investors are hedging their bets, bracing for potential market turbulence as the year progresses. Patience will be key in the weeks ahead. The crypto market has always been volatile, and while the Fed’s rate cut provides a temporary boost, the broader economic picture remains uncertain. Traders will need to keep a close eye on both the macroeconomic landscape and the internal dynamics of the crypto market as the year draws to a close. In the meantime, the Fed’s next move will be crucial. With more rate cuts likely on the horizon, the question is whether the crypto market can continue its upward momentum. Otherwise, another period of turbulence is in store.
Long
by Coinrule
“Bitcoin is rising."Cryptocurrency markets are going through a dynamic period with significant developments. In Germany, 47 cryptocurrency exchanges were shut down by the Federal Criminal Police Office and the Internet Crime Complaint Center as part of efforts to combat money laundering activities. However, following the Fed's decision to cut interest rates by 50 basis points, there is a decline in dollar-denominated assets. This situation is supporting upward movements in Bitcoin. From a technical perspective, if it surpasses the 63,300 resistance level, the 65,000 and then 68,500 resistance levels could be tested. On the downside, if Bitcoin breaks below the 60,000 level, a further decline toward the 57,330 and then 54,000 support levels could occur.
BITSTAMP:BTCUSD
by primequotes
Bitcoin's local perspective 16.09.24The current local trend, which started last week, is described by the EXP ascending pattern (orange) and as long as its trend is not broken, there are all chances to continue moving towards $61,700 and $64,186. At the same time, now we see the forming EXP pattern (turquoise), which is a corrective pattern to the previous one. If the price goes under the zone formed by the fourth points of the models - the zone around $58,100, we may see a decline under the level of $55,494, where we will try to catch a long on #BTC on the rebound. If the price is able to consolidate under the $55,494 level, the next target will be the levels of $53,472, $51,268 and $49,155.
INDEX:BTCUSD
by TSFC
More pain before we SoarHere in this chart, I have mapped out the price points to keep an eye on. I like the 53k-55k range and believe it is extremely bullish for us to stay above it but the longer we linger here... the more likely we are to break down. Down would be to 48k support which is not as strong as some may think. I am still keeping an open mind to the possibility of an event where we don't have a normal cycle that rallies into the next year post-cycle but instead a drastic dip back down to reality at 38k - this is also a worst-case scenario and possibly the disbelief phase of the cycle. Or I can always go with my gut and say that we already had a short-lived bull market these past few years.
COINBASE:BTCUSD
by RetiredNovice
Bitcoin BTC price is preparing for a “crazy” SeptemberIf we compare the stock market drops at August 05 and September 03, we can say that the crypto market is still holding up very well. But we shouldn't relax, because there are a lot of events coming up in September that will set the tone for the Autumn: 1️⃣ September 6 - data from the labor market. July 5 and August 5 were extremely volatile downward after the data release. Now the market interprets and considers the most important indicator of the health of the US economy to be not inflation but the number of jobs created. Based on this data, on August 5, the market plunged into a not so pleasant weekend when CRYPTOCAP:BTC went below $50K. 2️⃣11 September - publication of the CPI and inflation data in the United States. 3️⃣18 September - the results of the two-day Fed meeting, the announcement of a rate cut. It's elegant that this day is also a full moon, conspiracy theorists are on the base) 4️⃣20 September - a hat trick - a day when stock options, stock index futures, and stock index options expire on the same day. This happens only four times a year - on the third Friday of March, June, September, and December, which can lead to a sharp increase in trading volume and volatility. 🍿 Preparing popcorn and soothing valerian) And if you look closely, you can see how beautifully OKX:BTCUSDT price moves through white dynamic fibo channels, from border to border. So use this information to your advantage, with profit!)
by P_S_trade
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