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BTC Bitcoin Technical Analysis and Trade Idea 👉🔍 In this video, we conduct a thorough analysis of Bitcoin (BTC). Recent data suggests that BTC has exhibited significant bearish momentum. Given this trend, I anticipate a potential retracement, particularly as the price has approached a critical support level. My strategy involves closely monitoring the 15-minute chart for signs of consolidation or sideways movement, which could signal a potential breakout. This scenario might present an intraday trading opportunity, targeting previous resistance and support levels. It’s crucial to understand that these insights are speculative and should not be interpreted as definitive predictions. Accurate confirmation of specific price movements is essential before making any trading decisions, as detailed in the video. The content provides an in-depth examination of the current trend, market structure, and price dynamics, aimed at enhancing your understanding. However, trading carries significant risks, so it is imperative to implement rigorous risk management strategies to mitigate potential losses. 📈🔔
FOREXCOM:BTCUSD
by fxtraderanthony
5
BTC vs VIX A combined chart between the VIX indicator with Bitcoin and a separate Bitcoin chart (below) and the resulting in front of you: - The built-in BTC/VIX top section shows that yesterday its movement reached the bottom of the trend. - The arrival of the BTC/VIX indicator for the trend every time means that Bitcoin has achieved a bottom. - The strange thing is that this time it is equivalent to major lows: the bottom of 2015-2020 (Corona)-2022. Although the break is monthly and volatility and pressure may continue, it makes clear that this month is August the lowest number that Bitcoin will record before the main high.
BITSTAMP:BTCUSDLong
by NaiF_CHarT
$BTC supply crash: fairy tale, the untold story."Bitcoin price is set to skyrocket in the near future, claims an analyst on X. The analyst pointed out that the supply of BTC on exchanges has crashed." There is this common misconception that because the number of Bitcoins held on exchanges is getting lower every passing day, this will create a supply crash and push Bitcoin to the moon! Actually, if you scratch the surface, the opposite is likely to happen. Historically, after the halving, the division by two of the number of Bitcoins mined has done exactly that. After a period of time, the demand exceeds the supply, creating a massive bull run. But this cycle in 2024, everything is different. Most people only see the superficial aspect: yes, there are fewer Bitcoins available for trading. But what they forget to mention is that in this cycle, a lot of the supply is held by governments and agencies, outside of the market. Let's summarize the situation. As I am writing, there are 2.8M Bitcoins on the exchanges. However, outside the market: - 210,000 CRYPTOCAP:BTC are held by the US government. - 200,000 CRYPTOCAP:BTC are held by Mt. Gox litigators. - 136,295 CRYPTOCAP:BTC are held by an unknown wallet. - 285,105 CRYPTOCAP:BTC are held by GBTC, and many anonymous addresses who can sell at any time. That means at least 700,000 BTC are held by institutions and government agencies and are about to be sold. The big difference with this 2024 cycle is that: - The ones who own these BTC do not care about the price. They are not traders but rather employees with obligations to sell when required. - About 40% of the available supply is not in the market and therefore will have to be sold. Today, CRYPTOCAP:BTC dropped 2%, with about 2,000 CRYPTOCAP:BTC sold on Binance. Imagine if one of these entities sold 10,000 CRYPTOCAP:BTC at once? My point is that the normal CRYPTOCAP:BTC cycle is totally invalidated by this supply of $BTC. Their sale will affect the price of CRYPTOCAP:BTC negatively, at least until the demand catches up. The sale of these BTC might create a panic sell from the ETF issuers, which would wreck the whole crypto space for a while. Conclusion: the supply crunch will not happen. Instead, these institutions will increase the supply by selling their holdings on the market, negatively affecting the price of Bitcoin. It is even possible that the bull market could be canceled if too many of these CRYPTOCAP:BTC are sold, nullifying the halving effect and creating a never-before-seen early bear market.
BINANCE:BTCUSD
by CryptoNikkoid
3
Mercury in Retrograde VS Bitcoin Btc price for 10 years🪐 The Mercury in Retrograde cycle has begun today and will last until 28/08/2024 What astrologers "recommend" to do during this period, and what not, as well as to believe in it or not, is an individual matter) But the coincidence of the night market drain with the beginning of this period is very conspiratorial!) Another interesting "coincidence": 🔴 4 cycles of Mercury Retrograde - correction continues 🟢 9 cycles of Mercury Retrograde - the growth trend continues The 5th cycle has started today. Well, here's a chart with OKX:BTCUSDT price and all the Mercury in Retrograde cycles 🪐 that have been and will be. Look for coincidences and write your thoughts in the comments
INDEX:BTCUSD
by P_S_trade
10
Is Bitcoin ($BTC) heading toward a -50% correction Armageddon?Is Bitcoin ( CRYPTOCAP:BTC ) heading toward a -50% correction Armageddon? That is what the weekly chart seems to suggest. I hate to be the pessimistic guy, but you don't need to be a trading and charting expert to see the similarities between 2021 and 2024. What could trigger this massive correction is the incredible pump that the ETF has created. Imagine, for the first time in its history, Bitcoin has reached a new all-time high BEFORE the halving! That proves how much excitement and overheating the market experienced. Unfortunately, the stronger the pump is, the harder the correction will be. We can compare the 2021 chart on a weekly basis, and there are too many similarities for them to be coincidences. Because of the huge ETF pump, the MACD has gone ballistic, and now Bitcoin is way overbought. The main concern is that it is on the weekly chart, so resetting this indicator will take about 2-3 months, which gives a lot of time for the price to move down and up until we finally reach a reversal, likely after an estimated 50% dump. In this scenario, the bull run would have a double peak, like the one in 2021, with another bullish phase once the correction is finished, reaching the final goal of this bull run approximately at the end of 2024. The RSI and volume are also confirming this scenario. The EMAs are positioned at the same distance from the action price. This scenario is scary. We could see a -80% correction in altcoins. I hope to read your comments invalidating this idea, because if this happen, I am definitively going back to work at McDonald!
Short
by CryptoNikkoid
8
BTC is going to do something interesting...CRYPTOCAP:BTC update As I mentioned, the $63.8k level is very important, and we are currently at this point. We should either bounce from here or stay around this level for a few days before rallying to $72k. The high of July 1st ($63.8k) is crucial to hold. If we trade below it for several days, we may see a deeper pullback, which I am not expecting. A prolonged dip below $63.8k could be the first sign that we are heading towards a new macro low (below $53k), potentially leading to a bear market for the rest of the year. In that case, the next significant opportunity might not come until 2025. For now, I am holding everything tightly. This is a consolidation phase, not a bear market, although altcoins might take a hit due to BTC dominance being very bullish. Only strong coins are likely to move with BTC.
by GoldenTrades_
#BTCUSD/H4. What opportunities are there for BTCUSD and Bitcoin?BTCUSD long-term analysis: After establishing a new peak at 70000; BTCUSD has dropped sharply to the previous support area of 63500, where a correction towards 64800-65000 is occurring before continuing the downward trend. There is a high possibility that BTCUSD will form a bottom around 61000-61500 and move back up. Recommended orders: Plan 1: SELL BTCUSD zone 64800-65000 SL 65300 TP 63300-62300-61000. Plan 2: BUY BTCUSD zone 60900-61100 SL 60600 TP 62000-65000-69000.
COINBASE:BTCUSD
by wetdyerap