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Bitcoin Price Analysis: Can BTC Bounce Back After 8% Crash?Bitcoin ( CRYPTOCAP:BTC ) has recently taken a significant hit, with the price crashing by 8% from its all-time high of $99,690. As of the latest data, Bitcoin ( CRYPTOCAP:BTC ) is trading around $92,373, after a 7.09% correction that has left many traders wondering whether BTC will recover or continue its downward trend. This article takes a deep dive into both the fundamental and technical aspects of Bitcoin's current performance and explores what might lie ahead for the leading cryptocurrency. Bitcoin's Recent Price Action: A Brief Overview Bitcoin's impressive ascent towards the $100,000 mark was temporarily halted with the most recent crash, which occurred in the wake of the asset approaching its all-time high on November 22. The drop has led to the formation of a potential swing low at $92,620 on Monday, with Bitcoin showing early signs of a recovery. Despite the correction, Bitcoin ( CRYPTOCAP:BTC ) remains up by more than 130% year-to-date, reflecting the continued bullish sentiment surrounding the cryptocurrency. Many analysts have speculated that the fourth quarter of 2024 could see Bitcoin ( CRYPTOCAP:BTC ) pushing towards a six-digit price point, and this recent drop may be part of a healthy consolidation before another leg up. Bullish Long-Term Outlook Bitcoin's dominance in the cryptocurrency market remains unparalleled. The digital asset’s market capitalization hovers around $1.93 trillion, representing over 40% of the entire cryptocurrency market. Bitcoin’s resilience is fueled by its status as the first decentralized digital currency and its wide acceptance as "digital gold" and a store of value. The network’s security, scalability, and decentralized nature have kept Bitcoin at the forefront of the crypto market since its inception in 2009. In addition, Bitcoin continues to be a preferred hedge against inflation, a narrative that remains relevant as inflation concerns persist globally. Furthermore, Bitcoin’s role as an uncorrelated asset has also contributed to its growing reputation as a safe haven. As Bitcoin’s popularity expands and its network upgrades continue to improve its efficiency and functionality, the long-term outlook remains highly positive. Upcoming Key Developments: The Bitcoin network has seen several crucial upgrades in the past few years, including the Taproot upgrade, which significantly improved Bitcoin’s smart contract functionality and privacy features. Upgrades like these are key to ensuring that Bitcoin remains secure, decentralized, and scalable, with more improvements planned for the future. As more institutional investors and major companies embrace Bitcoin ( CRYPTOCAP:BTC ), the demand for the cryptocurrency is expected to continue growing. Technical Analysis From a technical perspective, Bitcoin’s recent price action reveals both bearish and bullish signals. As the price hit a local low of $92,620, the market is at a crucial juncture. A failure to hold above the $92,000-$93,000 support zone could see Bitcoin testing lower levels, with potential downside targets near the $87,000 region. If Bitcoin breaks below $87,000, a further decline towards the $70,000-$75,000 range could follow. However, there are also significant bullish signs in Bitcoin’s current price structure. Despite the recent drop, Bitcoin is holding above key support levels, and the RSI (Relative Strength Index) remains above 50, which suggests that there is still potential for upward momentum. A bounce from current levels could push Bitcoin back towards the $95,000 level, with a crucial resistance at $95,666. If Bitcoin clears this hurdle, it could set the stage for a recovery to $100,000 and beyond. Will Bitcoin Recover or Face Further Declines? Bitcoin’s price movements have been volatile, and this recent crash may simply be part of a healthy consolidation phase before the next major rally. Given that Bitcoin is holding well above support zones and has maintained significant year-to-date gains, it is likely that the cryptocurrency will make another attempt to reach $100,000 in the near future. However, this will depend heavily on broader market conditions and investor sentiment. If Bitcoin breaks the $95,666 resistance level, there is a strong chance that it could set new all-time highs by the end of the year, pushing closer to $100,000. On the other hand, if Bitcoin fails to reclaim bullish momentum and breaks below the $87,000 support, it could face a deeper pullback, with $70,000 being a possible target.
BINANCE:BTCUSD
by DEXWireNews
1
Structure broken! How much can BTC go?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 After breaking the minor low marked in red at $95,000, the bears have already taken over in the short term. However, BTC will remain bullish in the medium term as long as the last major low in blue at $85,000 holds. Thus, as BTC approaches the $85,000 zone, I will be looking for bullish reversal setups to form at the rejection. If and only if $85,000 is broken downward, a bigger bearish correction towards the $75,000 demand zone would be expected. Which scenario do you think is more likely to happen and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
Bitcoin can rebound up from support area to 101K pointsHello traders, I want share with you my opinion about Bitcoin. By observing the chart, we can see that the price some time ago rebounded from the support level, which coincided with the buyer zone and dropped to 85000 points. After this, the price turned around and started to trades inside the wedge, where it later rose to 89400 level and broke this level. Next, BTC rose to the resistance line of the wedge, after which it turned around and made a correction to the support line of the wedge, after which it continued to grow. Soon, the price broke the 89400 support level one more time, made a retest, and later made a correction to this level again and then bounced up. Price rose to the resistance line of the wedge and soon exited from this pattern. Then the price reached the current support level, which coincided with the support area and broke this level. After this, BTC started to trades inside the wedge, where it reached the top part of the range, but a not long time ago, BTC made a correction to the 97300 support level. So, in my opinion, Bitcoin will fall to the support area and then start to grow to the top part of the range. Then it can exit from this pattern and continue to move up next, therefore I set my TP at 101000 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
9
Another Outstanding Performanc | sentiment Indicator (PAID)Trend Identification: The indicator accurately marks bullish (green) and bearish (red) trends, providing clear zones for potential entries and exits. Signal Clarity: Buy and sell signals are strategically placed and align well with the directional momentum, capturing significant price movements, especially during the sharp downturns highlighted by the arrows. It was able provide two 3000+ points signal which is amazing. Choppy Market Management: The indicator also handles choppy or sideways markets reasonably well by displaying a mix of green and red areas, signaling caution during indecisive price action. Dynamic Zones: The green and red sentiment zones are dynamically plotted, offering traders visual guidance on market trends and sentiment shifts. The indicator is reliable for short- to medium-term trading
Short
by TradeTechanalysis
HelenP. I Bitcoin will rebound up from trend line to $104KHi folks today I'm prepared for you Bitcoin analytics. A few moments ago, the price bounced from support 2, which coincided with the support zone and declined to the trend line. Then BTC turned around and bounced higher than support 2, breaking it, after which continued to move up inside the pennant. Inside this pattern, the price rose to support 1, which coincided with one more support zone, but at once rebounded and made a small correction. After this, the price some time trades below support 1 and later reached this level again and broke it. Then, BTC made a retest and after this, it rose to the resistance line of the pennant pattern, after which turned around and made a correction to the support line, which is the trend line as well. But a not long time ago, BTC turned around and continues to move up next, so, I expect that BTCUSDT will all to trend line and then rebound up to 104K points, thereby exiting from a pennant pattern. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
8
Is Bitcoin (BTC) Setting Up for a Pullback and An Opportunity?👀 👉 Bitcoin (BTC) has recently dipped from a key liquidity area and is now revisiting previous highs. This movement has traders watching closely for what could come next. I'm eyeing a possible buying setup, but only if it retraces to a balanced price level and confirms with a bullish structural shift. 🛠️ Disclaimer: This video is for educational purposes only and does not serve as financial advice. Always do your own due diligence and trade responsibly. 📢
Long
by fxtraderanthony
10
BITCOIN WEEKLY CHART UPDATE !!This BTC/USDT chart shows a potential inverted head and shoulders pattern on the weekly timeframe, indicating a significant bullish reversal. The chart clearly shows an inverted head and shoulders formation, with a bullish left shoulder, a bearish head, and a bullish right shoulder. The neckline has been broken upwards, confirming the bullish breakout of the pattern. The neckline, located around $83,000-$85,000, now acts as a strong support level. The measured move indicates a potential target range of $130,000-$150,000, depending on the height of the pattern. Although BTC has seen some retracement after breaking the neckline, it remains above the critical support levels. The consolidation above the neckline further strengthens the breakout. The green path indicates higher highs, indicating the next potential wave towards $110,000+. Any pullback should ideally find support at or above $85,000 to maintain the bullish structure. For volume confirmation, an increase in weekly volumes will validate the breakout and support continued upward movement. Small update: Monitor price sustainability above $94,000-$96,000 to confirm ongoing bullish momentum. Stop-loss: A drop below the neckline ($83,000) could invalidate the pattern. This chart presents a long-term bullish outlook with higher targets. Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed. You can DM us for information on any other coin. @Peter_CSAdmin
Long
by CryptoSanders9563
BITCOIN rejected on the 1st real Resistance of the Bull Cycle.Yesterday's brutal Bitcoin (BTCUSD) rejection caught the majority of the market off guard. There are a few fundamental reasons, there is the exhaustion of the post-election euphoria, there is the psychological weight of the $100000 barrier. However there is one major technical reason that has gone under the radar and we'll explain it to you below. ** The Fibonacci Channel and the 0.236 Fib ** As you can see on this chart, the underlying pattern has been a Fibonacci Channel going through the last 3 Cycles (including the current one). The pattern started with a strong rebound on its bottom (green circle) that formed the December 2013 Top. That Cycle Top was on the 0.236 Fibonacci level of the Cycle and that is a level that rejected rallies during Bull Cycles on June 24 2019 and May 11 2024. ** The '1st Real Resistance of the Bull Cycle' ** That is the Fib trend-line that (more recently) rejected the uptrend on November 22. We can call this the '1st Real Resistance of the Bull Cycle' as this is the first major rejection level that a Bull Cycle faces before the eventual Top. That high during the last 2 Cycles has been on the 0.0 Fibonacci level, technically the top of the Channel (red circles). The red spot on the current Cycle in late 2025 doesn't represent a projection but is an illustration for comparison purposes. ** Top timing and the 1W MA50 ** On a side-note, it is interesting to observe that the duration of each of the past Bull Cycles has been roughly 150 weeks (1050 days) so a repeat of this pattern would give us a High towards the end of September/ early October. It is much better to try to time the High and sell that put an actual price tag on it. Equally interesting is the fact that even though BTC is on a technical rejection, the current rally started on the August 05 2024 Low, exactly on the 1W MA50 (blue trend-line). Technically, as long as this trend-line holds, the cyclical bullish wave should stay intact. But what do you think? Do you think the 0.236 Fib i.e. the '1st Real Resistance of the Bull Cycle' will extend the correction? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
34
We are preparing for an attempt to reverse the monthAs we approach the end of the month, the probability of correction increases, and therefore I want to once again consider the prospects for the coming week. Bitcoin successfully pierced the key level of 100k, which was the main goal of the bulls, leaving a signal for further market growth. However, this movement occurred against the rapidly growing dollar and closer to the closing of the monthly candle, there is a possibility of the crypto leveling off under the foreign exchange market with an attempt to turn the monthly candle into a bearish one. For bitcoin, this could threaten a retest of 75-77.5K. This movement will occur against the established trend, which is highly likely to lead to a quick buy-off and pinbar on a daily or weekly chart with continued growth in the new month with targets of 110-115 for bitcoin. Ether, against the background of a calm trend in bitcoin, worked out the planned scenario with the 3500 test. In the new week, I expect continued growth in the first half of the week on the inertia of the formed trend with an attempt to break through 3600-3750. But from Tuesday evening or Wednesday, the probability of an attempt to reverse the month will prevail until the retest of 3000 to collect previously left volumes of sellers with further payback. The opening level of the new month will be important at the end of the year, but at the moment the probability of growth in the first half of December prevails due to the positive opening of the second half of the quarter. The first impulse to sell on the eve of a major correction is likely today, which may lead to a retest of 3250 and the beginning of a reversal for many overbought coins, which will continue until the end of the month. In connection with this picture, it is worth being careful about coins that have shown significant growth, since there is a high probability of a transition to a prolonged decline. The more oversold coins, which have not yet shown significant growth due to the bearish trend that has remained on the indicators, still have the opportunity to show good growth against the background of continued market growth until the beginning of December at least. For vib, I still expect a fairly stable continuation of growth with an attempt to consolidate above 0.1 and a further breakdown at 0.15-25, since the token remains heavily oversold on large charts. But on the indicators of the weekly chart, a trend change is already acceptable before the end of the month, which will lead to more confident growth. This token often grows against a falling cue ball. The gft is also starting to increase its growth rate, which has also finished extinguishing the bearish trend on the weekly chart and there has been a trend change on the daily chart. In this regard, we can expect a movement against falling tops. I continue to use these tokens to store funds in the medium term due to the high growth potential. According to akro, there is also a growth potential up to 5X, but the dampening of the bearish trend is not over yet. In addition, incomplete emission exerts significant pressure, and therefore a rollback to a retest of 0.00375-400 with further growth above 0.005+ can be expected. Riskier assets like oax and vite, although they have unclosed goals at the end of last week, they are not in a hurry to work out. Apparently, market participants are afraid of delisting in the coming week, where these assets may fall. There has been no delisting so far this month and the last week remains. If these assets do not get into the next announcement, I will take them to work on an ongoing basis in order to move.
BITSTAMP:ETHUSD
by Strateg_
4
Bitcoin is cementing its place in the annals of history! TA+TPThe current price of Bitcoin is at 93,278.71 USD. The chart indicates that it is in a phase of consolidation after reaching a high of 93,751.08 USD. Bitcoin is showing some resistance around the 95,000 USD mark, as reflected by the upper blue horizontal lines at 96,000 USD and 99,889.79 USD. Immediate support levels are visible at 88,000 USD and 86,721.16 USD, which are key for any potential pullback scenarios. VMC Cipher B Divergences: The indicator below the price chart shows divergences, with several red and green signals. The recent trend indicates potential bullish momentum but with some caution as the negative divergences (highlighted by the red bars) suggest a weakening of bullish momentum in the short term. The price is consolidating at the 93,278.71 USD level, and the indicator below indicates caution as some weakness is apparent in the buying pressure. RSI (Relative Strength Index): The RSI is at 38.90, indicating that Bitcoin is currently in an oversold condition, signaling a potential buying opportunity if the price remains above 30. However, this is still below the typical neutral level of 50, suggesting the price may continue to struggle to break resistance levels. A move above 50 would indicate more upward momentum, but the current RSI reading suggests caution in the short term. Money Flow Index (MFI): The MFI is at 40, which indicates neutral flow. It suggests that there isn’t significant accumulation or distribution happening, implying market indecision. We would look for this indicator to trend upwards for confirmation of bullish sentiment or downward for further bearish movement. Stochastic Oscillator: The Stochastic Oscillator shows a reading of 23.07, which is considered an oversold level. This could indicate that Bitcoin is due for a potential reversal upward if the oscillator starts to turn higher. However, the overall trend still suggests caution as the price has not yet decisively moved out of consolidation. Key Resistance Levels: 95,000 USD: Strong resistance near recent highs. 96,000 USD and 99,889.79 USD: Major resistance levels to watch for potential breakouts. Key Support Levels: 88,000 USD and 86,721.16 USD: Immediate support levels. 73,654.77 USD: A deeper support level in case of significant pullback. Trading Plan: Bullish Scenario: Entry: A breakout above the 95,000 USD resistance with an RSI showing upward momentum (above 50) could provide a bullish entry point. Target: Initial target at 96,000 USD, with secondary targets at 99,889.79 USD. Stop-Loss: Place a stop-loss below 88,000 USD to mitigate risk. Bearish Scenario: Entry: If the price breaks below the 88,000 USD support level with confirmation from the RSI dropping below 30 and negative momentum on the MFI, consider shorting Bitcoin. Target: Set targets at 73,654.77 USD and 71,532.73 USD. Stop-Loss: Place a stop-loss above 95,000 USD to protect against a reversal. Neutral/Consolidation Play: Range Trading: If Bitcoin continues to consolidate between 86,000 USD and 95,000 USD, consider trading the range, buying near the lower support and selling near the resistance, with proper risk management. Conclusion: Bitcoin is currently in a consolidation phase with some weakness in momentum indicators. The next moves will depend on how the price reacts at key resistance levels around 95,000 USD and support around 88,000 USD. A breakout could offer bullish opportunities, while a breakdown could lead to further downside potential. Carefully monitor RSI, MFI, and the Stochastic Oscillator for early signs of reversal or continuation. Use proper risk management strategies to navigate volatility.
CRYPTO:BTCUSDLong
by elfabiiani
What will happen to Bitcoin?Bitcoin is in a post-pattern movement. In these movements, the price rises in an IFC manner and shows no inclination to fill the IFCs, while many FVGs form along the way, but none are filled. Bitcoin is now close to the psychological resistance of 100K. There is a possibility that Bitcoin might experience some correction between the 100K to 105K range, and we could witness an X wave. If a correction occurs, you can rebuy in the green zone. Those who are out of the market can't stay out forever; they must form a setup! If Bitcoin consolidates or experiences a mild correction, altcoins could pump during this period. The next target step for Bitcoin could be in the range of 118K - 125K. If a daily candle closes below the invalidation level, this setup will expire For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
by behdark
2
PENDLE Long Spot Trade (Bullish Continuation) Market Context: PENDLE, a standout in the Ethereum ecosystem, is maintaining bullish momentum, printing higher lows while holding above the 200-day EMA. These signals point toward a continuation of the uptrend, with a likely retest of prior highs. Trade Setup: Entry Zone: Around $4.50 Take Profit Targets: First target: $6.80 Second target: $9.40 Stop Loss: Daily close below $4.00 This trade focuses on strength in a trending market, with well-defined support and upside targets. Monitor for volume confirmation and any deviations below the 200-day EMA.
Long
by Richtv_official
The key is whether the box section and pull back can be created Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a good day today. ------------------------------------- (BTCUSDT 1D chart) The HA-High indicator, which showed signs of being created yesterday, is expected to be created for sure this time. Accordingly, the key is whether it can be supported near 96372.40 and rise above 98892.0. - Since the creation of the HA-High indicator means that a high section has been created, I think that whether there is support near the HA-HIgh indicator can be an important criterion for predicting future trends. First, we need to check how the box section is formed after the HA-High indicator is created. Since the box section is usually formed above and below the HA-High indicator, it also means a section that moves sideways to the HA-High indicator section. However, there are cases where a trend is formed right away without forming a box section, but since such cases are extremely rare, I think you don't need to worry about this. - What we need to consider is whether the MS-Signal (M-Signal on the 1D chart) indicator can be touched and risen. In other words, if the MS-Signal (M-Signal on the 1D chart) indicator is touched and rises while creating a box section of the HA-High indicator, a pull back pattern will be created and an upward price adjustment will be experienced. - If not, and it falls below the MS-Signal indicator, there is a possibility that it will touch around 79.9K-80.9K. This section was explained yesterday with the 1W chart. Therefore, you can see how important the MS-Signal (M-Signal on the 1D chart) indicator area is. - The next volatility period is around December 3rd. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture I used TradingView's INDEX chart to check the entire section of BTC. (BTCUSD 12M chart) Looking at the big picture, it seems to have been maintaining an upward trend following a pattern since 2015. In other words, it is a pattern that maintains a 3-year upward trend and faces a 1-year downward trend. Accordingly, the upward trend is expected to continue until 2025. - (LOG chart) Looking at the LOG chart, you can see that the upward trend is decreasing. Accordingly, the 46K-48K range is expected to be a very important support and resistance range from a long-term perspective. Therefore, it is expected that prices below 44K-48K will not be seen in the future. - The Fibonacci ratio on the left is the Fibonacci ratio of the uptrend that started in 2015. In other words, it is the Fibonacci ratio of the first wave of the uptrend. The Fibonacci ratio on the right is the Fibonacci ratio of the uptrend that started in 2019. Therefore, it is expected that this Fibonacci ratio will be used until 2026. - No matter what anyone says, the chart has already been created and is already moving. It is up to you how to view and respond to this. If the ATH is renewed, there are no support and resistance points, so the Fibonacci ratio can be appropriately utilized. However, although the Fibonacci ratio is useful for chart analysis, it is ambiguous to use it as support and resistance. The reason is that the user must directly select the important selection points required to generate Fibonacci. Therefore, since it is expressed differently depending on how the user specifies the selection points, it can be useful for chart analysis, but it can be seen as ambiguous to use it for trading strategies. 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 134018.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 -----------------
by readCrypto
1
ALT SENSATIONAL Everyone is watching this 60% level on CRYPTOCAP:BTC.D for the potential reversal from bitcoin dominance into alts. And I agree based on the order block and golden zone confluence. The next step I take if I believe an alt season is soon, which is around the corner sooner than one would think, is to hawk the btc and ratio pair charts. Here are a few that have piqued my interest as of now. This does not mean they immediately pump but rather offer some decent risk reward trade opportunities. I have no idea if these are the generational bottom but frankly they could be. MEXC:TAOUSDT TAO BINANCE:BNBUSDT BNB OKX:OPUSDT OP BINANCE:NEARUSDT NEAR BINANCE:AVAXUSDT AVAX BINANCE:JUPUSDT JUP CRYPTO:WIFUSD WIF - Robinhood + Coinbase wombo combo listing Always be pitting your favorite altcoin vs btc or vs the native chain token the coin is on. Like PEPEETH or BONKSOL etc. Oftentimes the true bottom or the major turning points present themselves once the ratio pair charts begin to reach key levels of support or resistance. Study and track diligently. Some alts have already had an initial push up probably taking out some short liquidations. The key is looking for the laggards and the bull divergences.
CRYPTOCAP:BTC.D
by bhx10
BTC/USDT - Rising Wedge Breakout - H4 ChartThe BTC/USDT pair on the H4 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Rising Wedge Pattern. This suggests a shift in momentum towards the downside in the coming Days. BINANCE:BTCUSD Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 93,400 Target Levels: 1st Support – 84,600 2nd Support - 78,210 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
8