Bitcoinmarkets
Cardano Simple price action of cardano. Price made head and shoulder and break its neckline. Price taking retest at it’s resistance. Wait for bearish engulfing or evening star at 1/4H time frame then go short And always manage your risk.
Post BTC Halving Price Prediction, DXY, $IBIT, and May ForecastAs I've been saying, we really just need a breather after the huge runup in Bitcoin and the altcoins pre-halving and with 7 consequetive up months and Green candles.
So it's no surprise April is selling off, and the halving was a 'sell the news' event. It's good news, because all markets need to rest and re-gain their strength to push higher.
Watch the video for details, but the TLDR is I think we'll drift sideways and even down to re-test the $60k region where we can see strong buy blocks until we get into May, and then we'll start to push higher and hopefully into bull-mania.
However, IF Bitcoin can get back above $66k - $68k on a daily closing basis, effectively washing out the Red block of sellers and back above both the 21 and 50 day EMA's (Exponential Moving Averages) then I would start buying BTC.
Bitcoin Weekly Analysis Here's the corrected version:
BTC continues to lead in this bullish market, reaching a new all-time high. Initially, we anticipated the price to target $75,000 as an algorithmic prediction, but it fell short and stopped at $73,800, likely trapping buyers who had set psychological targets for $75,000 and $80,000. The drop in BTC is healthy after the significant gains we've witnessed in this bullish trend. It seems BTC is taking a breather, with buyers who entered around $15,000 and $30,000 now taking profits to accumulate at better prices.
Following the halving, predicting BTC's behavior becomes more uncertain, but historical data suggests BTC tends to reach new highs after halving events. From a technical analysis standpoint, we identify a sweet spot for accumulating BTC between $47,000 and $39,000. Breaking above $52,000 and closing above it on a weekly basis would likely propel the price to $47,000 and $42,000.
In terms of market dynamics, we have significant funds from the USA, and now China is also getting involved. This suggests that BTC is unlikely to drop to low prices like last time. Best of luck to everyone, and I'll provide updates if I observe any changes in the analysis.
BTC Cycles - Bull Run Phase 2 Starts HereCheck this out. BTC cycles. This is the monthly RSI. Every time it hits that 82 line, where we are right now, it's right around the previous all-time high and right before the subsequent bull run
Could 50K Bitcoin Be In The Cards?Hear me out... I know it's just a couple of days before the halving, but the selling pressure is still strong on BTC and has hit the 60K level without showing signs of slowing the pace to the downside. This makes me think that 50K-52K is possibly in the cards because there really isn't much support until that zone as the order blocks are showing on the 4hr timeframe. Other timeframes are looking very similar.
We may have some ups, we may have some more downs, and guess what, we will have some sideways time too. What is important is that you make sure you are following the trend for your time frame. If you are trading short term like myself, you are hopefully capitalizing on the short side. But you may be in the camp that you are buying the perpetual dip. If so, then you are just hopefully dollar cost averaging into the market on these drops to the downside.
With global tensions high in the past week, the markets haven't been very favorable for the number-go-up crowd, but for those that know how to trade the volatility, you should have been doing pretty well either way.
Are you buying the dip bullish or are you shorting with the bears?
Would love to know in the comments!
BTC Flips Bearish, Price Plummets Below $70.5KPanic gripped the cryptocurrency market this week as Bitcoin, the world's leading digital asset, tumbled below the crucial $70,500 mark. This sharp decline was accompanied by a disheartening shift in a key technical indicator, signaling a potential bear market on the horizon.
The CoinDesk Bitcoin Trend Indicator (BTI), long a trusted gauge of Bitcoin's price momentum, has delivered a devastating blow to investor confidence. After a period of bullish dominance since late February 2024, the BTI has decisively flipped into bearish territory. This shift indicates a fundamental change in market sentiment, suggesting a potential reversal of the uptrend that had propelled Bitcoin to record highs earlier this year.
While the price plunge and the BTI's bearish turn are undoubtedly concerning developments, some analysts caution against hitting the panic button just yet. Intriguingly, trading volume for Bitcoin remains relatively stable, indicating that some level of investor interest persists despite the selloff. This ongoing activity suggests that the market might be undergoing a period of aggressive correction rather than a complete collapse.
Several factors are likely contributing to the current bloodbath in the cryptocurrency market. Mounting regulatory concerns continue to cast a shadow over the industry, with government agencies around the world scrutinizing cryptocurrency transactions and exchanges. This heightened scrutiny is creating uncertainty and deterring some institutional investors from entering the market.
Geopolitical tensions and rising inflation are also playing a role in dampening investor sentiment. As traditional markets experience volatility, investors tend to seek safer havens for their assets, and cryptocurrency often gets sidelined during these periods. Furthermore, profit-taking by short-term investors who entered the market during the recent upswing could be exacerbating the price decline.
The BTI's plunge into bearish territory serves as a stark warning for Bitcoin bulls. While the indicator doesn't guarantee a prolonged downturn, it suggests a significant shift in the balance of power between buyers and sellers. The coming weeks and months will be critical in determining whether Bitcoin can reverse this bearish trend.
If Bitcoin can find support and stabilize above key price points, it could potentially restore some investor confidence and pave the way for a recovery. However, if the price continues its descent and the BTI remains in bearish territory, it could signal a more extended period of decline. This scenario could lead to a significant shakeout in the cryptocurrency market, potentially weeding out weaker players and fundamentally altering the landscape.
Looking beyond the immediate turmoil, some analysts believe that Bitcoin's long-term prospects remain promising. They point to the continued development of blockchain technology and the potential for wider institutional adoption as reasons for optimism. These believers argue that the current downturn presents a buying opportunity for investors with a long-term outlook, allowing them to accumulate Bitcoin at a discount.
The coming weeks and months will be a test of resilience for the entire cryptocurrency market. Bitcoin, as the bellwether of the industry, will be closely watched as it navigates these turbulent waters. Whether Bitcoin can weather the storm and emerge stronger, or succumb to the pressures of the bear market, remains to be seen. One thing is certain: the cryptocurrency market is in for a wild ride.
Bitcoin Double Bottom & Falling WedgeBitcoin is forming a double bottom and a falling wedge formation
this could indicate an extremely bullish scenario where we see bitcoin fly past $73,000
Take caution when executing the trade
as a Triple top formation can also lead to a bearish case leading us straight to $58,000 or $59,000 on the low end
Bullish Case is 90% Scenario
Bearish Case is at 10%
I've opened a long position on ByBit we'll see in the coming weeks but i do see us in extremely bullish territory!
Using Technical Indicators i was able to spot a Double Bottom and a falling Wedge Pattern
Bitcoin Looks for ONE MORE Possible Chance to BUY THE DIP!! Remember to Like, Comment, & Follow for more in-depth analysis! Share with your friends!
The greatest compliment one can give is a referral
I've seen too many doom and gloom posts for Bitcoin, and there are macro and micro bullish patterns being layered with more bullish patterns as we get closer to the Havening.
Bitcoin is in a descending parallel channel, but it is not a bearish distribution. The distribution is bullish due to the top of the channel being tested already 4 different times, and the bottom side of the channel has only been tested once. The more times a support or resistance level is tested, the weaker it becomes.
Bitcoin has also created a macro inverse head and shoulders pattern, and each shoulder and the head of that inverse head and shoulders pattern is its own inverse head and shoulders pattern. The most bullish bottoming pattern in trading was just created 4 times to create the bullish support in the 60k - 73K range. This range includes the bullish double top that was made in 2021, plus now, this inverse head and shoulders pattern is made up of an inverse head and shoulder pattern in each of the shoulders and the head. We are now
Even though we did not break out off the inverse head and shoulders pattern, we will continue to cool off indicators with another drop down to the 65K level, or potentially the 59.7k level. The only reason that we would drop down that far again after creating the bullish pattern we just made would be the fetish Bitcoin has with needing to hit the .618 Fib retracement level.
The .618 Fib retracement level sits at 59.7k. The head of the inverse head and shoulders wicks down under the .55 fib retracement but never reaches the .618 fib retracement level. Since we are in a descending parallel channel, it would allow it to hit that .618 Fib retracement level now while staying within this parallel channel.
Another bullish pattern bitcoin has made, is the macro bull flag. We had a major run-up, from 38.5k, where volume increase was consistent and noticeable, and we topped out at 73.5k (about +93% upward).
Just by extrapolating the percentage move and estimating where the second pole moves from the bull flag would finish. More importantly, it would be important to know where the starting point for the next runup is. It would be starting from the 59.7k (.618 fib retracement level) and then extrapolating +93% upward would put us at about $115k (which also is the 1.618 Fib Extension Level).
Another pattern I see that can occur is, as I said previously, we technically have not bounced off the .618 Fib Retracement level ($59.7k), which is the bounce point Bitcoin has a fetish for to be able to start another bullish move upward.
Currently, we sit in a position where we are 2 weeks away from the Bitcoin Halvening, which is the catalyst that starts the new Bitcoin Bull Market, where we make a parabolic move. There are at least 10 different bullish confluences of support within the range of $60k- FWB:73K , and the only bearish confluence is that the top side of the descending parallel channel we have has held any breakout above it from happening.
The move that I am possibly watching for would be one that lands us just shy of the $100k milestone.
The move would look possibly something like this, where the only way I could see this bullish confluence zone could become more BULLISH would be to make an eve & eve double bottom and create the second bottom with another inverse head and shoulders pattern. We would then break out to $73.5k peak and then around the same time as the halvening, we would look to break the peak and then use the .55 Fib Ext.Level and .5 FIb Ext Level to create a Bullish W-Breakout Pattern with making both bottoms re-test the previous peak of $73.5k. After re-testing both times, holding support above that previous peak, We would launch to the .618 Fib Ext Level, possibly re-test the top of the W breakout we just made, and then after, we would take a launch at the 1 Fib Ext. Level that sits at $93.8k.
Major key points would be:
-Drop to the .618 Fib Retracement level ($59.7k)
-Breakout bounce up to the .5 Fib Extension ($76.1k) or the .55 Fib Extension ($77.9k) of which breaks out $73.5k peak
-Minor Correction from the .55 Fib Ext and the .5 Fib Ext level down to re-test the $73.5k peak to create a Bullish W breakout pattern
-Breakout to either .618 Fib Ext ($80.3k) or the 1 Fib Ext ($93.5K)
Let me know what you think in the comments below! Which pattern do you see playing out?
1. Run-up to $115k
2. Run-up to $94k
Bitcoin Cools Off After Flirting with Overheated Futures MarketThe Bitcoin market appears to be taking a breather after a period of intense activity in the futures market. Recent data indicates a decline in Bitcoin's open interest, a metric that reflects the total amount of outstanding futures contracts. This development comes after concerns arose about the futures market potentially overheating, which could lead to increased volatility.
Open Interest and the Overheating Signal
Open interest essentially measures the level of leverage traders are using in the Bitcoin futures market. When open interest rises significantly, it suggests that traders are placing more bets on the future price of Bitcoin, often using borrowed capital to magnify potential returns (and losses). This increased leverage can amplify price movements, leading to sharp swings in both directions.
Analysts observed a surge in Bitcoin's open interest in recent weeks, raising concerns about the market overheating. This situation has historically been a precursor to increased volatility, as seen in the lead-up to the FTX crash in November 2022 and the price correction in June-August 2022. Both instances coincided with periods of elevated open interest.
The Recent Cool Down
Fortunately, recent data shows a notable decrease in Bitcoin's open interest. This suggests that traders might be unwinding their leveraged positions, potentially reducing the risk of a sudden and dramatic price movement. This development is seen as a positive sign for the current Bitcoin rally, particularly by bulls (investors who believe the price will continue to rise).
The Battle for $65,000
Despite the cooling off in the futures market, the price of Bitcoin itself remains locked in a battle for the crucial $65,000 resistance level. Breaking above this level could signal a continuation of the current uptrend. However, bulls still face challenges.
Technical Indicators: EMAs and RSI
Analysts like Skew emphasize the importance of Bitcoin price action maintaining certain technical indicators. These indicators provide clues about potential future price movements based on historical price trends.
Two key indicators to watch are the exponential moving averages (EMAs) on both the 4-hour and daily timeframes. EMAs smooth out price fluctuations and highlight the underlying trend. If the price can stay above these key EMAs, it bolsters the bullish case.
Another indicator to monitor is the Relative Strength Index (RSI). The RSI measures the momentum behind price movements and indicates potential overbought or oversold conditions. For the current uptrend to continue, the RSI needs to return above the central level of 50, suggesting a return to positive momentum.
Conclusion
The decline in Bitcoin's open interest offers a sigh of relief for those concerned about excessive leverage in the futures market. However, the price battle for $65,000 continues. Keeping an eye on technical indicators like EMAs and RSI will be crucial in gauging the strength of the current rally and potential future price movements.
Bitcoin ETF: Sideways Action to Pattern Out Excessive GainsProbably the most popular Stock Exchange Traded Bitcoin Trust at this time, AMEX:GBTC has started a consolidation that may turn into a small triangle formation. Triangles are a form of a consolidation that can work to pattern out excessive price gains without a run or correction down.
This is the weekly chart where we can see that GBTC is now above its previous all-time highs. It is still affordable and poses less risk than the actual Bitcoin, which is very expensive.
BTC / ETH - another alt if you like the idea, please "Like" it. This is the best "Thanks!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and please yourself and your friends.
Bigtime & OP I see crazy potentialBoth Bigtime and OP are crazy oversold and IF we see a rotation as BTC falls I AM READY!!
I think we could see $2 but I will be selling at $1.75
LOW RISK HIGH REWARD!!
NOT FINANCIAL ADVICE!!!!!
Waiting for the Bitcoin Bull Run: A Look at MDIAThe recent sideways movement in the Bitcoin market has many investors wondering when the next bull run will begin. Blockchain intelligence firm Santiment suggests a specific metric to watch: the Mean Dollar Invested Age (MDIA).
Understanding MDIA:
The MDIA tracks the average age of investments in Bitcoin held within the same wallet addresses. When the MDIA rises, it signifies that coins are being held for longer periods, with less movement or trading activity. This could indicate:
• Investor Stagnation: Existing holders are content with their positions and not actively buying or selling.
• Whales Holding: Large investors, often nicknamed "whales," might be accumulating or holding onto their Bitcoin, reducing overall market circulation.
MDIA and Bull Run Continuation:
According to Santiment, a falling MDIA suggests renewed movement from long-held coins. This could signal:
• Increased Investor Confidence: A drop in MDIA might indicate that major stakeholders (whales) are returning their Bitcoin to active circulation, potentially fueling a price increase.
• Fresh Investment: New investors entering the market with fresh capital could also contribute to a decline in MDIA.
Current Market Situation (as of April 13, 2024):
• Bitcoin is experiencing a price decline, potentially reflecting investor uncertainty.
• It's important to note that MDIA is just one indicator, and other factors can influence market movements.
Additional Considerations:
• Market Sentiment: Broader market sentiment and external factors can significantly impact Bitcoin's price. Analyzing news and economic data alongside MDIA can provide a more holistic view.
• Technical Analysis: Technical indicators like price charts and trading volume can offer further insights into potential price movements.
Beyond MDIA: Implied Volatility
The recent rise in implied volatility for Bitcoin options suggests increased market uncertainty. Implied volatility reflects the market's expectation of price fluctuations within a specific timeframe. A rise indicates:
• Investor Hesitation: Investors might be unsure about the future direction of Bitcoin's price.
• Increased Risk Premium: Option traders are demanding a higher premium to account for the perceived volatility.
Conclusion
The MDIA is a valuable tool for gauging investor behavior and potential shifts in the Bitcoin market. While a falling MDIA can be a bullish sign, it's crucial to consider other factors like implied volatility and broader market sentiment for a comprehensive understanding. By combining MDIA analysis with other technical and fundamental indicators, investors can make more informed decisions in the dynamic world of cryptocurrency.
Further Research:
• Santiment: santiment.net
• Implied Volatility: www.investopedia.com
Bitcoin Cash Halving Jitters: A Cautionary Tale for Bitcoin?
With Bitcoin's fourth mining reward halving just days away, all eyes are on the leading cryptocurrency. However, a recent price slump in Bitcoin Cash (BCH), a derivative of Bitcoin, is sending a potential warning sign to Bitcoin traders.
Understanding the Halving
Bitcoin's mining reward halving is a pre-programmed event that occurs roughly every four years. It cuts the number of new bitcoins awarded to miners for verifying transactions on the blockchain in half. This economic model is designed to control the overall supply of Bitcoin, theoretically leading to price appreciation in the long run due to scarcity.
Bitcoin Cash: A Proxy for Bitcoin's Halving?
Bitcoin Cash (BCH) emerged from a hard fork of the Bitcoin blockchain in 2017. While sharing similar core functionalities, BCH has a larger block size, allowing for faster transaction processing compared to Bitcoin.
Historically, the price movements of Bitcoin Cash have often mirrored those of Bitcoin, making it a potential indicator for Bitcoin's future performance. This is why the recent post-halving price drop in BCH has some analysts worried about the potential impact on Bitcoin after its upcoming halving on April 20th.
BCH's Cautionary Tale: A 15% Slide
Following its own halving on April 4th, 2024, Bitcoin Cash experienced a significant price drop of around 15%. This decline suggests that the anticipated rise in value post-halving might not materialize immediately.
Furthermore, BCH futures markets also witnessed a significant drop in open interest, indicating a potential decrease in bullish sentiment among traders. Negative funding rates on BCH perpetual futures contracts further highlight a shift towards a bearish outlook.
Why BCH Might Not Be a Perfect Proxy
While BCH offers some insights, it's important to acknowledge key differences between the two cryptocurrencies:
• Market Capitalization: Bitcoin dwarfs Bitcoin Cash in terms of market capitalization. This vast difference means that Bitcoin's halving will likely have a more muted impact on its price compared to BCH.
• Adoption Rate: Bitcoin enjoys a wider user base and higher adoption rate compared to BCH. This translates to a potentially more robust and resilient market for Bitcoin.
What to Expect for Bitcoin's Halving
Despite BCH's recent price slump, predicting the exact impact of Bitcoin's halving remains a challenge. Here are some factors that could influence Bitcoin's post-halving performance:
• Institutional Investment: Increased institutional investment in Bitcoin could provide significant support for the price post-halving.
• Regulatory Landscape: Evolving regulations surrounding cryptocurrencies can significantly impact investor sentiment and market stability.
• Overall Market Conditions: Broader economic factors and the prevailing risk appetite in the market will also influence Bitcoin's post-halving trajectory.
A Measured Approach: Long-Term Perspective
While the BCH price movement post-halving is a cause for some concern, it shouldn't be the sole indicator for Bitcoin's future. Investors should approach the upcoming halving with a well-rounded perspective, considering the unique fundamentals of Bitcoin and the broader market environment.
Historically, Bitcoin has demonstrated a tendency for price appreciation in the long term after halving events. However, short-term volatility is inevitable. Investors should exercise caution and adopt a long-term investment horizon when navigating the complexities of the cryptocurrency market.
The Bottom Line: A Learning Experience
The recent price behavior of Bitcoin Cash serves as a valuable learning experience for Bitcoin traders. It highlights the inherent volatility in the cryptocurrency market and the potential for short-term setbacks even after anticipated positive events like a halving. While BCH might not be a perfect proxy, its performance offers a glimpse into the potential psychological impact of a halving on investor sentiment.
BITCOIN CME GAP FILLEDBitcoin cme gap gets filled with bullish triangle pattern indicating futher price push in price of bitcoin
Bitcoin RSI Hints at Short-Term Bounce, But Long-Term Top Looms?The ever-volatile world of Bitcoin is once again presenting a perplexing puzzle. While the price seems to be taking a breather, technical indicators are flashing conflicting signals, leaving investors scratching their heads. The Relative Strength Index (RSI), a mainstay in technical analysis, sits at the heart of this debate.
RSI: A Gauge of Momentum
The RSI measures the momentum of a price movement by comparing the average gain of closing prices to the average loss of closing prices over a specific period. It's typically displayed on a scale of 0 to 100, with higher values indicating stronger upward momentum and lower values signifying stronger downward momentum.
Traditionally, an RSI reading above 70 is considered "overbought," suggesting the asset might be due for a correction. Conversely, readings below 30 are considered "oversold," potentially indicating a buying opportunity.
Current RSI Reading: A Neutral Zone
As of April 10, 2024, Bitcoin's daily RSI hovers around 53, according to data from Cointelegraph Markets Pro and TradingView. This positions it comfortably within the neutral zone, neither screaming "buy" nor "sell."
Short-Term Bounce or Long-Term Top?
This seemingly neutral RSI reading is being interpreted in two distinct ways by analysts, creating a fascinating dichotomy:
• Short-Term Bounce: Analysts like Jelle, a prominent crypto trader, believe a retest of the 50 mark on the RSI often precedes a price bounce in a strong uptrend. With Bitcoin currently hovering around 50, this could signal an imminent short-term rise in price. This interpretation finds support in historical data, where similar RSI behavior has been followed by price corrections and subsequent rebounds.
• Long-Term Top: However, another factor, the Value Days Destroyed multiple, throws a curveball. This indicator, which measures the intensity of price movements, is hinting at a possible long-term peak for Bitcoin. In simpler terms, it suggests the current bull run might be nearing its end, and the RSI's current reading could be a sign of exhaustion in the uptrend.
The Value Days Destroyed Conundrum:
The Value Days Destroyed multiple considers both the magnitude and duration of price movements. A high value suggests an intense bull run, potentially unsustainable in the long term. While the specific calculations of this indicator are beyond the scope of this article, its current reading for Bitcoin is raising concerns about a potential long-term price correction.
Beyond the RSI: Unveiling Other Clues
While the RSI is a valuable tool, it shouldn't be the sole factor guiding investment decisions. Here's what investors should consider alongside the RSI:
• Confirmation of Hidden Bullish Divergence: Trader Alan Tardigrade identified a promising sign on the 4-hour RSI charts - a hidden bullish divergence. This pattern suggests a potential disconnect between price and momentum, where the price makes a lower low but the RSI doesn't, indicating underlying buying pressure. If confirmed, this divergence could bolster the short-term bounce theory.
• Moving Averages: Moving averages smooth out price fluctuations, revealing the underlying trend. Investors should analyze key moving averages (like the 50-day and 200-day) to understand the overall direction and potential support/resistance levels.
• Trading Volume: Trading volume often rises alongside strong price movements, both up and down. Analyzing volume alongside price action can help confirm the strength of a trend.
• Macroeconomic Factors: Global economic conditions, interest rate policies, and major news events can significantly impact the cryptocurrency market. Staying informed about these external factors is crucial.
The Final Word: Navigating Uncertainty
The cryptocurrency market is inherently volatile, and technical analysis should not be used as the sole basis for investment decisions. Diversification, risk management, and a long-term perspective are essential for navigating this dynamic landscape.
Beyond the Technicalities: A Look at Market Sentiment
The current market sentiment surrounding Bitcoin also plays a crucial role. Are major institutions still entering the space, or is there a sense of FOMO (fear of missing out) subsiding? Are regulatory hurdles creating uncertainty? Gauging the overall mood of the market can provide valuable context for interpreting technical indicators.
Conclusion: A Balancing Act
While the RSI reading suggests a potential short-term bounce for Bitcoin, the Value Days Destroyed multiple raises concerns about a long-term top. Investors should carefully consider other technical indicators, trading volume, and broader market sentiment before making any investment decisions. Remember, the cryptocurrency market thrives on volatility, and navigating its complexities requires a measured and informed approach.
Bitcoin Analysts Eye Downtrend as Halving LoomsBitcoin, the world's most popular cryptocurrency, is facing a wave of uncertainty. While some investors eagerly await the upcoming halving event, anticipating a price surge, analysts warn of a potential downdrift.
The Halving Shadow
The Bitcoin halving, scheduled to occur in 10 days, is a pre-programmed event that cuts the rewards for mining new Bitcoins in half. This scarcity is often theorized to drive up the price due to increased competition for a limited supply. However, some analysts, like Benjamin Cowen, believe historical data suggests a possible price decline around the halving period.
Mirroring the Past?
Cowen highlights a potential trend where Bitcoin's price movement during previous halving events might be repeated. According to his analysis, there's a chance Bitcoin might see a downward correction leading up to the halving. It's important to remember, however, that past performance is not necessarily indicative of future results.
Beyond the Halving
Several other factors could influence Bitcoin's price trajectory:
• Regulations: Regulatory scrutiny from governments around the world could dampen investor enthusiasm.
• Institutional Adoption: Increased mainstream adoption by financial institutions could provide a significant price boost.
• Market Sentiment: Broader market sentiment and risk appetite can significantly impact Bitcoin's volatile price movements.
Is a Crash Imminent?
While a significant crash can't be entirely ruled out, expert opinions are divided. The upcoming halving remains a source of debate, with some predicting a price surge and others a potential correction.
Navigating the Cryptoverse
For investors considering entering the Bitcoin market, careful research and a strong understanding of the inherent risks associated with cryptocurrency are crucial.
Disclaimer
This article is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial professional before making any investment decisions.
I was hacked. Possible many others have been alsoFound multiple random connections that trace back to Japanese companies(the web shows they had been hacked & Alps alpine has government contracts possibly????). The devices didn't have any information besides Mac addresses. A couple unknown devices, a couple phones, an Gen 1 Honda and I would bet others I don't know about.
I bet they have ransomware in my firmware. I sold it all pulled my money out of the exchanges and have ordered a new phone already. On tradingview an random chart showing EGLD shorts had shown up.... Wtf
Be safe if they get a hold of your stuff it can be terrible. Wasn't worried about anything but now with mutiple ships hitting bridges... It is time to risk off and or to use the ETF trading I feel.
This sucks but it would suck more to have it all taken from me.
Be safe PROTECT YOURSELF!!
NOT FINANCIAL ADVICE!!
Bitcoin could be closer to the new top then we thinkIf the fear in these market intensify. The new top for 2024 could be behind us. I sure hope I'm wrong and it keeps going up so I make money, But, we are running out of gas, the halving could be a sell the news event. Never forget the most important rule, Always keep some change in case of emergency, to buy the dip. And never be all in forever past the past top.
INDEX:BTCUSD
BTCUSD 1HBTC ~ 1H 📉
#BTC I hate to say this, But this is the truth. we found a Bear Pattern at a smaller time. Let's see how this pattern works in a shorter time. This is only for a smaller time period, in the long term, we are still Bullish.
Has Bitcoin already reached its peak, or just a Shakeout?Let's address the common question here:- Has Bitcoin already reached its peak, or is there still more potential for growth?
Taking a look at the chart, Bitcoin (BTC) is presently trading near the 35-day Exponential Moving Average (EMA), a level that often serves as a short-term support for price bounces. The subsequent support level could be around the .382 Fibonacci retracement level, approximately at the $60.2k mark. Interestingly, this level coincides with the 65-day EMA, suggesting a robust support zone. Therefore, it's plausible to anticipate price consolidation between these EMAs, influenced by both lower time frame (LTF) and higher time frame (HTF) support levels.
Moreover, a potential catalyst for a breakout could be the upcoming halving event. Historically, Bitcoin has experienced price rallies following halving events due to decreased supply issuance. This suggests a possibility of upward momentum post-halving.
However, it's important to remember that no one knows with full certainty what will happen; this is all speculation. In summary, considering these factors, two plausible short-term scenarios have been outlined in the chart which I think can play out in the next few weeks!
DYOR, NFA
Please hit the like button to show your support.
I will keep this chart updated and will post more this week.
Thank you
#PEACE
Whale Watching: Can whale accumulation signal price moves?The activity of large Bitcoin holders (those owning more than 0.1% of the total supply) is a telling indicator for market movements. A positive net flow means they're buying (accumulation), and a negative net flow indicates selling (distribution). Understanding these dynamics can give us a leg up in predicting market trends.
On March 23rd, an intriguing development occurred: large Bitcoin holders increased their holdings by nearly 80,000 CRYPTOCAP:BTC as prices lingered around $64K. This aggressive accumulation likely played a pivotal role in nudging Bitcoin back into the $70K territory.
We observed a similar pattern on March 6th, where a significant increase in holdings by these large holders preceded a notable rise in Bitcoin's price.
This indicator is not just a number—it's a snapshot of market sentiment and behavior. By keeping an eye on these large holder activities, we can better anticipate future price movements.
