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Bull Flag/Broadening Triangle hints Bullish CaseThe latest chart you've shared illustrates the bullish flag and descending broadening triangle pattern within a larger uptrend. If the bullish scenario plays out, the targets can be anticipated as follows: 1. Bullish Target 1 at $85,643 : A breakout from the current flag could lead Bitcoin towards this first major resistance level. 2. Bullish Target 2 at $102,304 : If momentum continues, the next resistance would be around the psychological $100K mark. Bearish Scenario: - If Bitcoin fails to break out from the flag, there could be a retest of the lower trendline: - Bearish Target 1 at $55,567 : A drop to the 0.618 Fibonacci level. - Bearish Target 2 at $44,714 : Further decline towards the 0.382 Fibonacci level. - Bearish Target 3 at $38,000 : The lowest support in the broader descending channel. This setup reflects both potential upside and downside risks, with key levels to watch for directional confirmation. Bitcoin's current position at $60,800 shows resilience, but the next few moves will be critical for determining whether it breaks above or retraces towards the lower targets.
COINBASE:BTCUSDLong
by CryptoFallen
BTC/USDT IN THE CHANNEL AND BTC NOT FAR FROM 62K LEVELWe are checking the trend for the next target up 62K, we did an update before about the correction that is already done and BTC looks positive for the next increase target. With this update, we did expect before the correction and already it did gain BTC is in the channel zone and can make any time new volume up 62K With this update, we did add the possibility that BTC will enter 62K For now, we expect there is a high chance BTC will visit again the 62K level soon. BTC already opened an important new cycle trend. We saw that before cycle activation, BTC increased further. If we can meet a new strong volume coming time, then BTC will able to target up to 63K The volume of the moment is stable, but it is not the main volume. There is always a chance BTC will look for liquidity below the price actions, but the chance will stay high will target below liquidity or direct liquidity.
Long
by SatochiTrader
BITCOIN: Next Upward Movement May be ImminentBitcoin 61010 may have completed its approximately six-month consolidation phase. The next upward movement is likely imminent, and we could see the new all-time high within a few days. Signal: Green Background on high level time frames Waiting for Green on 1st Ribbon, or a valid breakout at 61860 DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make your own decisions and be responsible for your own investing and trading Activities.
Long
by go8686
AFTER THE CORRECTION BTC CAN REENTER FOR SECOND TIME 62KWe did add before about the expected correction for BTC Like the before 62K target, in the correction, there can come a high candle recovery trend as we have seen before to gain again 62K There is a good chance that BTC will retest the 62K level again with a new liquidity volume after this correction trend. know that correction always enters with panic and manipulation trends. In the zone where we are now, BTC can find new LONG liquidity also with the new coming weekly chart start. we will follow the back trend to 62K level with updates. the reversal does not always go directly, in more times the trend should become first stable before a new increase starts. Follow always only your plan and risk management we are not advisors or get paid for it. Trading is more than just a simple basic update.
Long
by SatochiTrader
NEO/USDT: Prime Buying Opportunity Amid Bullish Reversal SignalThe NEO/USDT pair is currently trading at 4.153, showing signs of a potential upward reversal after a recent downward correction. This retracement has brought the price to a critical support level, which is being closely watched by traders. The Relative Strength Index (RSI) has recently dipped into oversold territory, indicating that the selling pressure may be waning and a reversal could be imminent. Additionally, the Moving Average Convergence Divergence (MACD) is beginning to show a bullish crossover, which historically signals a shift in momentum from bearish to bullish. Moreover, the price action suggests that NEO has formed a bullish divergence, where the price is making lower lows while the RSI is making higher lows. This divergence is often a precursor to a strong upward move. The 50-day moving average is also flattening out, suggesting that the recent downtrend may be losing steam and that a base is being formed. Considering these technical indicators, the current level offers a strong buying opportunity for investors looking to capitalize on the potential medium-term upside. The combination of oversold conditions, bullish divergence, and a potential MACD crossover suggests that NEO could see significant gains from this point. With the price at 4.153, a well-timed entry could allow for substantial profits as the market reverses and begins to move higher. Therefore, this pullback should be viewed as a prime opportunity to buy, with the expectation of a strong rally in the coming weeks.
Long
by SafeCryptoSignals
6
Bitcoin(BTC/USD) Daily Chart Analysis For Week of Aug 9, 2024Technical Analysis and Outlook: Bitcoin encountered a substantial decline during this week's trading session, reaching Mean Support 55800 and Key Support 53800, and subsequently retesting completed Outer Coin Dip 54000. The considerable selling pressure finalized Outer Coin Dip 51000 and major Key Support 50700. The overall upward trend remains ongoing, leading to the establishment of a new Mean Resistance 61700 and the completion of the Interim Coin Rally 62600. The potential extension towards Mean Resistance 65500 and 68500 holds significant promise for the forthcoming week's sessions. The likelihood of temporary downward pressure toward the Mean Support at 57400 exists before the coin resumes its upward trajectory.
BITSTAMP:BTCUSD
by TradeSelecter
GTAU/USDT : Waiting for Consolidation ! (READ THE CAPTION)By examining the GT Protocol chart in the 4-hour timeframe, we observe that after the entire cryptocurrency market experienced a significant drop last week, this cryptocurrency was no exception and corrected down to $0.45. Currently, GT Protocol is trading around $0.51, and we need to see whether it can stabilize within the $0.45 to $0.49 range this week. This analysis will be updated. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
by ArmanShabanTrading
2
Bitcoin Rallies Back to $60K Despite Soft Economic Data & MoreTakeaways Bitcoin's value dropped below $50,000 early this week, marking its lowest point since mid-February: But prices quickly bounced back, briefly pushing near $60,000 on Thursday, as major indices regained their footing despite fears of a US recession. Amid global market turbulence, US spot Bitcoin ETFs saw $168.4 million in net outflows on Monday: Grayscale’s GBTC led the withdrawals, while macroeconomic issues and crypto-specific factors intensified the market selloff. Crypto coalition asks for clarity on digital assets: A group of more than 50 crypto asset firms, dubbed The Crypto Market Integrity Coalition, wrote a letter to President Joe Biden and Vice President Kamala Harris asking the White House for more regulatory clarity around digital assets. New Ethereum wallet addresses have fallen to their lowest level this year amid the launch of spot ether ETFs: Solana, however, saw an uptick in new addresses due to its growing DEX ecosystem and interest in memecoins. Ripple is advancing its stablecoin strategy with the upcoming launch of Ripple USD (RLUSD): Set to debut on XRP Ledger and Ethereum, RLUSD will reportedly help advance the company’s focus on cross-border transaction innovation. Bitcoin Drops Below the $50,000, then Pushes Back to $60,000 Amid Economic and Geopolitical Concerns Bitcoin saw its fourth consecutive day of decline during Asian trading on Monday, plummeting under $50,000 before recovering to around $60,000 at the midpoint of the week. The cryptocurrency's downturn is attributed to increasing geopolitical tensions in the Middle East and growing concerns about the global economy, both of which have shaken investor confidence. Many are also concerned the Federal Reserve has not been fast enough in responding to signs of a weakening US economy. Gemini data indicates that bitcoin hit a low of $49,540 before slightly rebounding. Meanwhile, ether fell to almost $2,000, its weakest point since early January this year. This sell-off resulted in more than $1 billion worth of liquidations in the crypto futures market, with ether accounting for more than $350 million. The sharp decline in cryptocurrency values was part of a broader market downturn fueled by fears of a global recession, turmoil in Japan’s market, and heightened tensions in the Middle East. The start of the week was not positive for global markets. Japan's Nikkei 225 Index tumbled by 12.4%, the Stoxx Europe 600 Index decreased by 2.8%, and S&P 500 micro futures lost 2.9%. The NASDAQ also tumbled by almost 2.5%. This panic selling reflects investor anxieties about potential economic instability and geopolitical unrest. 🏖️ Topic of the Week: Solana (SOL): Scaling Crypto to the Masses ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Bitcoin Ascending Regression Trend (Bullish) With the recent market dip, most indicators show an oversold to neutral range: Bollinger Bands: neutral CCI: oversold RSI: Neutral MACD: oversold Fear and Greed Index: fear In other words, the market does have room to grow, but it needs market drivers to do so. The FED rate decisions in September might just be the catalyst Bitcoin needs. If liquidity comes to the markets according to expectations, BTC might end the year in the $66k to $95k price range.
BITSTAMP:BTCUSDLong
by HenriqueCentieiro
5