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Bitcoinforecast

Adam and Eve on the BITCOIN chart. Start of rise of cryptomarketToday we will consider many interesting aspects: - BTCUSDT price behavior - price behavior of altcoins - actions and decisions of The FED - total capitalization of the crypto market What are the prospects in the future in our opinion for all of the above? Let's try to figure it out! Let's start with the fact that we described in detail the possible options for the BTCUSD price movement in our previous ideas, in particular here: Please re-read it to better understand what we will write about next We assumed that altcoins will start to come to life when the BTCUSDT price starts to move from the first liquidity zone of $20300-20600 to the next one around $23000-23400 . But as we all can see and feel on our deposits, in the last 2-3 days altcoins began to "shoot up" perfectly. Some "heavy" altcoins rise +10-30%, and there were "unicums", the value of which increased by +50-300%. So far, strong "shoot up" were made by cryptocurrencies with low capitalization, which before that only fell and were not interesting to anyone. The pumping of such coins can be organized for relatively ridiculous money. The bottom line is that globally, nothing has changed in the crypto market, but a note of positivity has appeared in the minds of many participants. Positive closing of the October candle and the first important target of $23,000-23,400 In general, October closed with an increase in the BTCUSDT price, which consolidated the status of the "greenest month" in the cryptocurrency market, if you look at the history since 2013. Also, if you look at the chart above, you will see that November and December have quite good chances to become "green" months. Now the Bitcoin price is trying to gain a foothold above the liquidity zone of $20300-20600 , so that during the next week it can move further to the next liquidity and critical zone around $23000-23400 . It is very likely that altcoins will follow the main cryptocurrency upwards. Fed rate hike, inflation, and the reaction of the cryptocurrency market 02.11 during The Fed meeting (FOMC) raised the rate by the projected +0.75%. Thus, during the announcement of information, and Mr. Powell's answers to questions, there was increased volatility in the market, but the market is not falling, but growing. This can be explained by several of our guesses: - the market has already "digested" the information that the rate will be raised by +0.75% and was psychologically ready for it. If it had been raised by +1%, that is, above the forecast, there is no doubt that the market would have fallen. - There were also talks about buying gold as a protective asset. By the way, more than a year ago, we made an idea where we described how the XAU price behaved during crises in world history. And now, we have already waited that the XAUUSD price fell into the buying zone. Is it possible to wait out the global crisis in cryptocurrency and is it safe? The crisis is high inflation - it is the depreciation of your monetary assets. Inflation in the US is about 8%, in Europe +/- 10%, and in economically weaker countries it is much, much higher. At such times, ordinary people suffer. Raising the federal funds rate aims to reduce inflation, but is it worth sitting and waiting for someone to solve the situation at the global level? There is a less popular and more risky option to protect your savings from being "eaten" by inflation - it is an investment in projects that can potentially bring more %% than "eaten" inflation in the economy. Large funds operate according to the "classical" scheme: "dump" risky assets - stocks, etc. index SP500 - falls, and buy, for example, gold. Capitalization of assets as of November 2022: - SP500 - $32 trillion - Gold - $11 trillion - Silver - $1 trillion - Cryptocurrencies - $1 trillion And now imagine the following: in addition to large funds, state regulators of large world economies also buy protective assets. Their "buy powers" are measured not in billions, but in trillions of dollars. At an adequate price, "protective assets" may not be enough for everyone. If we take into account the fact that states cannot yet buy cryptocurrencies, because this is a conditionally unregulated market by the states themselves, then companies can afford it. There have already been precedents in previous years: Tesla, MicroStrategy, etc.. Analysis of the cryptocurrency market capitalization Let's try to project what can happen to the total capitalization of cryptocurrencies if the "Big money" buys a "little bit" of high-risk assets - cryptocurrencies to at least partially cover the losses from high inflation. Now the behavior and pricing of the total capitalization of cryptocurrencies are very similar to the situation in late 2018 - early 2019. The difference is that 4 years ago the capitalization was +/- $100 billion, and now it is 10 times more - $1 trillion According to this fractal, by the beginning of summer 2023, the capitalization of the crypto market may reach $3.3 trillion, which is only 10% higher than the recorded maximum of the end of 2021. But, if you look at the chart of this idea, then according to the white fractal in mid-May 2023, the BTC price can be $44 thousand, and at the end of 2021, the Bitcoin price at the maximum was $69 thousand. It turns out that the price gap is +50% and altcoins will have to fill it with their crazy price growth and, accordingly, the total capitalization. This assumption fits well into the concept of the alt-season, which we depicted on the chart of this idea. _____________________ Did you likeour analysis? 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by P_S_trade
34
Bitcoin Bitcoin MARKET UPDATE Bitcoin support levels - 20500$ and 20000$ strong Support Bitcoin resistance - $20700 and 21000$ strong resistance Market depends upon Bitcoin movement so trade with risk management I updated you about Bitcoin next movement. ——————————————————————— Analysis - BTC Support is at 20500$ and 20000$ Resistance is at $20700 and $21000 Trade carefully and manage your risk according to mentioned support and resistance levels. Looking at 1 hour timeframe, Volume is good and BTC Price above EMA 10 20 50 100 200 Currently RSI is at 68.26 BTC dominance is at 40.23 and Total Crypto Marketcap is at 1.03T
by Waqar212
3
Weekly Analyze of the Crypto Investing in November, 2022Date: Oct 31,2022-Nov 04,2022 This week, the crypto market has been differentiated. After a wave of rebounds, the mainstream coins entered a stage of decline and adjustment this week. On the contrary, some hot coins showed a good increase in rotation. BTC closed out the effective physical K line last week, got rid of the previous consecutive doji disk, and the market started. The daily line fell, finishing in the range of 20000–21000. At present, from the perspective of the Fibonacci retracement range and the K-line pattern, it is inclined to trend retracement. The upward trend remains unchanged. The support range is 19600–19800, and the resistance range is 21500–22000. The weekly line of ETH breaks the high point connection and suppresses it. If it breaks above the wave high point of 1780, it will officially start the weekly upward trend. The daily line maintains an upward rhythm, and MA120 has turned its head upwards. The market is expected to rely on its volatility to move higher. The support range is 1450–1480, and the resistance range is 1720–1780. Vtrading is a crypto trading platform providing smart coin trading strategies for every trader. If you are using Vtrading smart crypto trading bots, the Grid and Martin strategy are suggested for spot market, and the SMT strategy for futures market. (All for reference only, plz invest rationally)
by VtradingGlobal
Bitcoin Bitcoin MARKET UPDATE Bitcoin support levels - $20,000 and $19,500 strong Support Bitcoin resistance - $20,500 and $21,000 strong resistance Market depends upon Bitcoin movement so we updated you about Bitcoin now trade with risk management accordingly to bitcoin update. ——————————————————————— Analysis - BTC support is at $20,000 and Resistance is at $20,500. BTC daily candle closing was green at $20,207. Looking at the 1-hour chart, there is low volume and BTC has tested $20,000 support again which is an important level that BTC must hold, or else the possibilities of dropping towards $19,500 and $19,000 price range can become high. 200 EMA has acted as resistance. Trade carefully and manage your risk according to mentioned support and resistance levels. Today's Cryptocurrency Prices by Market Cap The global crypto market cap is $1.01T, a 0.64% increase over the last day. The total crypto market volume over the last 24 hours is $80.30B, which makes a 20.58% decrease. The total volume in DeFi is currently $5.58B, 6.95% of the total crypto market 24-hour volume. The volume of all stable coins is now $73.37B, which is 91.36% of the total crypto market 24-hour volume. Bitcoin dominance is currently 38.66%, a decrease of 0.14% over the day.
by Waqar212
BTC Daily TA Cautiously BearishBTCUSD daily guidance is cautiously bearish. Recommended ratio: 35% BTC, 65% Cash. *Cryptos are up after briefly dipping during Fed Chair Powell's press conference speech yesterday. DXY and US Treasuries are up on the Fed announcement that they still have a "ways to go" in raising the funds rate to sufficiently restrictive levels. This positive correlation is likely to continue to put more downward pressure on Cryptos and Equities. Agriculture is mixed. Equities, Equity Futures, Metals, Energy, CNYUSD, JPYUSD, GBPUSD, EURUSD and VIX are down. The third GDPNow US Q4 GDP estimate is 3.6%, up from 2.6% on 11/01 . This estimate is almost solely based off of September M3 Manufacturing (Shipments, Inventories and Orders) with New Orders coming in higher than in August, which signals a still strong US consumer. What the estimate ignores is ISM Nonmanufacturing PMI missing expectations (hinting at slower growth in the service sector which comprises 70% of US economy) and the widening trade deficit (more imports than exports) in the International Trade Report . Today Japan issued evacuation warnings in certain regions (again) when North Korea allegedly fired an ICBM along with several short range ballistic missiles into the Sea of Japan as part of their "military drills" before their planned 7th nuclear missile test. In early October 2022 NK tested more ballistic missiles in the Sea of Japan, this prompted the US to call an emergency UN Security Council meeting where they accused China and Russia of protecting NK from international sanctions . Key Upcoming Dates: October Employment Situation at 830am (EST) 11/04 ; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30.* Price is currently trending down at ~$20200 as it attempts to defend $20k psychological support to avoid retesting the 50MA as support at $19417 support. Volume is currently High (low) and on track to favor buyers if it can close today's session in the green, if this happens it would break a four day streak of seller dominance. Price continues to hover around the VP Point of Control at $20300 for the eighth consecutive session, a clear sign of consolidation before a breakout or breakdown. Parabolic SAR flips bearish at $19323, this margin is mildly bearish at the moment. RSI is currently trending up at 54.26 after bouncing off of 52.5, the next resistance is at 57.34. Stochastic remains bearish and is currently testing 55.55 support. MACD remains bullish but is trending down at 258 as it approaches a test of the weak uptrend line from May 2021 at ~210 as support, if it breaks below this level it would be a bearish crossover. ADX is currently trending down slightly at 17 as Price continues to trade sideways around $20k, this is neutral at the moment. If Price is able to breakout from here (above $21k ) then it will likely aim to retest $24181 resistance . However, if Price breaks down here, it will likely test the 50 MA as support at $19417 support . Mental Stop Loss: (two consecutive closes above) $21k.
COINBASE:BTCUSD
by dailytaguy
Bitcoin Btcusdt Bitcoin, BTCUSDT MARKET UPDATE Bitcoin support levels - 20000$ and 19500$ strong Support Bitcoin resistance - $20600 and 21000$ strong resistance Market depends upon Bitcoin movement so trade carefully with risk management. We updated about btcusdt Bitcoin. ——————————————————————— Analysis - Bitcoin price struggled to gain pace for a move above the $20,650 resistance. BTC reacted to the downside and traded below the $20,400 level after the fed rate hike of 0.75 bps. The price declined below the $20,250 support level and traded close to the $20,000 level. Bitcoin also forming a double bottom which is Bullish pattern Bitcoin Fear and Greed Index is 30 Breaking 20,000 support is not good for Alts manage your risk accordingly to support and resistance levels Looking at 1 hour timeframe, Volume is low and BTC Hold support of EMA 10 Currently RSI is at 47.7
by Waqar212
Bitcoin Bitcoin MARKET UPDATE Bitcoin support levels - 20000$ and 19500$ strong Support Bitcoin resistance - $20500 and 21000$ strong resistance Market depends upon Bitcoin movement so trade with risk management accordingly to our Bitcoin update. We updated you about Bitcoin and now do risk management. ——————————————————————— Analysis - BTC Support is at 20000$ and 19500$ Resistance is at $20500 and $21000 Trade carefully and manage your risk according to mentioned support and resistance levels. Looking at 1 hour timeframe, Volume is low and BTC Hold support of EMA 10 Currently RSI is at 47.7 BTC dominance is at 40.31 and Total Crypto Marketcap is at 1.01T.
by Waqar212
Bitcoin Bitcoin MARKET UPDATE Bitcoin support levels - $20,000 $19,800 and $19,200 strong Support Bitcoin resistance - $20,800 and $21,000 strong resistance Trade with risk management accordingly to this bitcoin updated because market depends upon Bitcoin movement. ——————————————————————— Analysis: BTC daily candle closing was red at $20,151. BTC Support is at $20,000 and Resistance is at $20,500. BTC experienced high volatility during Federal Funds Rate decision and FOMC press conference. BTC price pumped and tried to break $20,800 resistance following 75 BPS interest rate hike decision but as soon as market got confirmation of no positive statement of lower interest rate hikes in future during FOMC press conference, BTC dropped towards $20,000 support level. Looking at 4 hour chart,200 EMA support is at $19,800-900. Today's Cryptocurrency Prices by Market Cap The global crypto market cap is $1.00T, a 1.72% decrease over the last day. The total crypto market volume over the last 24 hours is $100.87B, which makes a 34.74% increase. The total volume in DeFi is currently $4.31B, 4.27% of the total crypto market 24-hour volume. The volume of all stable coins is now $91.67B, which is 90.88% of the total crypto market 24-hour volume. Bitcoin dominance is currently 38.81%, an increase of 0.13% over the day.
by Waqar212