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Bitcoin Price Nears 200-Day SMA: Bullish Signal on the Horizon? Bitcoin (BTC), the world's leading cryptocurrency, has been on a rollercoaster ride in 2024. After a strong start to the year, prices dipped below the crucial 200-day Simple Moving Average (SMA) in early July, sparking concerns about a potential bear market. However, recent price movements suggest a potential bullish reversal, with Bitcoin again hovering close to the 200-day SMA. The 200-Day SMA: A Key Indicator The 200-day SMA is a technical analysis tool investors use to gauge the long-term trend of an asset's price. It's calculated by averaging the closing price of Bitcoin over the past 200 days. This metric helps smooth out short-term price fluctuations and provides a clearer picture of the overall market direction. Historically, the 200-day SMA has played a pivotal role in identifying bull and bear markets for Bitcoin. When the price trades above the 200-day SMA, it's generally seen as a bullish signal, indicating an upward trend. Conversely, prices consistently falling below the SMA suggest a bearish market. Bitcoin's Recent Price Movements In early July, Bitcoin dipped below the 200-day SMA for the first time since August 2023. This triggered anxieties among some investors, questioning the sustainability of the current bull run. However, it's important to note that such temporary dips below the SMA have occurred during previous bull markets. For instance, in 2016, Bitcoin fell below the 200-day SMA for three months before embarking on a significant upward trajectory that culminated in the 2017 bull run. Similarly, in 2023, Bitcoin dipped below the SMA in August but recovered shortly after, continuing its bull run through the end of the year. Reclaiming the 200-Day SMA: A Potential Bullish Signal The current situation presents a critical juncture for Bitcoin. It could be a significant bullish signal if the price can successfully reclaim the 200-day SMA and maintain a position above it. This would suggest a continuation of the current bull run and potentially pave the way for further price increases. There's historical precedent for such a scenario. In early 2023, Bitcoin successfully reclaimed the 200-day SMA after a brief dip, marking the beginning of a strong bull run that lasted throughout most of the year. Factors Supporting a Bullish Outlook Several factors contribute to the potential for a bullish reversal. Firstly, Bitcoin's underlying fundamentals remain strong. The network continues to experience steady growth in hash rate, indicating strong miner participation and network security. Additionally, institutional adoption of Bitcoin is on the rise, with major investment firms and corporations increasingly recognizing its potential as a valuable asset class. Secondly, the recent price dip could be attributed to short-term market corrections and profit-taking by some investors. These temporary fluctuations are natural occurrences within any bull market and shouldn't necessarily be interpreted as a sign of a long-term bearish trend. Looking Ahead: Important Considerations While the current price movements suggest a potential bullish outlook, it's crucial to maintain a cautious and realistic perspective. The cryptocurrency market remains highly volatile, and unforeseen events can trigger significant price swings. Investors should closely monitor economic factors, regulations, and industry developments that could impact Bitcoin's price. Additionally, conducting thorough technical and fundamental analysis is essential before making any investment decisions. Conclusion Bitcoin's price hovering near the 200-day SMA presents a fascinating situation. While a successful reclaim of the SMA could signal an upcoming bullish phase, continued vigilance and comprehensive analysis are necessary. The cryptocurrency market is dynamic, and investors should be prepared for potential volatility. However, the underlying strength of Bitcoin's network and growing institutional adoption suggest that the long-term outlook remains promising.
BITSTAMP:BTCUSDLong
by bryandowningqln
Why are you panicking? 1 of this 2 will certenaly happendWhy are you stressing about COINBASE:BTCUSD bitcoin going down. is beening cleary manipulated. 1 of this 2 scenarios will occur, in their time. 1 scenario, bitcoin drop to 40k support. 2 scenario, bitocin drop to 30k support. If you check the MONTLY chart, you have clean range until 30k (Red Box). So you know what must certainly is gonna happend. Or do you think that WS guys, come to crypto cuz they love this sh!t!? No! They come to crash this sh!t, and try controll it. Simple as that. Be smart. This is a LONG TERM game.
BYBIT:BTCUSD.P
by brunodpferreira
PO3 possibilities on BTCUSDTGeneral Overview Time Frame: The chart displays price movements in a 1-hour (1h) timeframe. Current Price: The current price of Bitcoin is around 57,619.99 USDT. Previous Movements: There are two main downward trends followed by recovery movements evident on the chart. Technical Analysis Elements Descending Channels (Yellow Channels): The yellow descending channels indicate Bitcoin's downward trend.First Descending Channel: Represents a longer and broader downtrend. Second Descending Channel: A shorter-term downtrend, followed by an upward movement in price. Support and Resistance Levels (Horizontal Lines): Support Levels: Identified around 56,858.28 USDT and 53,400 USDT. Resistance Levels: Identified around 58,379.08 USDT and 61,997.53 USDT. Box Patterns: These indicate areas where the price has consolidated before breaking out. Each box shows that after a period of sideways movement, the price has broken either upwards or downwards. Trend Lines and Moving Averages (Blue Lines): These lines determine the average movement of the price and the general trend direction. The blue line indicates that the price is recovering following a decline. Potential Scenarios Upward Scenario: If the price breaks the 58,379.08 USDT resistance level, the next target could be 61,997.53 USDT. A movement toward 66,000 and 67,534.95 USDT levels may be observed if it holds above this level. Downward Scenario: If the price drops below the 56,858.28 USDT support level, the next support could be at 53,400 USDT. If this level is broken, a further decline to lower levels might occur. Conclusion This chart is used to analyze the short-term price movements of Bitcoin. Technical analysis attempts to predict future movements based on past price actions. Investors can use such charts to support their trading decisions. However, it's important to remember that cryptocurrency markets are highly volatile, and such analyses may not always yield accurate results.
by alemicihan
BITCOIN ( UNDER TURNING LEVEL ) ( 4H )BITCOIN HELLO TRADER S Tendency the price trade below turning level at 56,752 , indicates is under bearish pressure TURNING LEVEL : a blue line between resistance and support level around 56,752 , indicates if the price stabilizing below this level reach support level , if the breaking turning level reach a resistance level RESISTANCE LEVEL : there is a black line around 59,383 , indicates selling have already increase this level , so if the price breaking turning level reach this level SUPPORT LEVEL : there is a red line below turning level around 54,488 , indicates buying have already increase this level , so if the price stable below turning level reach this level PRICE MOVEMENT : first the price will trying to rising a turning level around 56,752 , after dropping to the support level around 54,488 , then stable below this level reach 52,454 , if the price breaking turning level reach a resistance level by 59,383 , then stabilizing above this level reach a 63,383 TARGET LEVEL : RESISTANCE LEVEL : 59,383 , 63,383 SUPPORT LEVEL : 54,488 , 52,454
BITSTAMP:BTCUSDShort
by ArinaKarayi
1
BITCOIN ( UNDER BULLISH PRESSURE ) ( 4H )BITCOIN HELLO TRADER S Tendency the price it will trying to reach a resistance trendline , indicates the price is under bullish pressure TREDN ANALYSIS : yesterday the price closer resistance trendline after dropping to closer support trendline , today the price it will trying again to reach resistance trendline TURNING LEVEL : a black line around 58,985 , indicates if the price stabilizing above this level reach resistance level , if the breaking turning level reach a support level RESISTANCE LEVEL : there is a blue line around 62,475 , indicates selling have already increase this level , so if the price stable above turning level reach this level SUPPORT LEVEL : there is a red line below turning level around 57,363, indicates buying have already increase this level , so if the price breaking turning level reach this level PRICE MOVEMENT : as long as the price trade above turning level at 58,985 , reach a resistance level at 62,475 , then stable this level reach a 64,136 , if the price breaking turning level reach a support level at 57,363 , then stable below this level touch a 55,767 TARGET LEVEL : RESISTANCE LEVEL : 62,475 , 64,136 SUPPORT LEVEL : 57,363 , 55,767
BITSTAMP:BTCUSDLong
by ArinaKarayi
BTCUSD Bitcoin Robbery Plan in Bullish DirectionMy Dear Robbers / Traders, This is our master plan to Heist BTCUSD Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Stop Loss: Recent Swing Low using 4h timeframe Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. support our robbery plan we can easily make money & take money 💰💵 Join your hands with US. Loot Everything in this market everyday
KRAKEN:BTCUSDLong
by Thief_Trader
Bitcoin Dominance at key levelBitcoing dominance at a critical level now. If BTC.D break upper line with weekly candle, BTC will pump more and BTC will make a new ATH in 2024. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CRYPTOCAP:BTC.D
by rukshan2102
1
Bitcoin Halving: A Historical Look at Price and ScarcityThe Bitcoin halving cycle, a programmed event that roughly cuts the block reward for miners in half every four years, has become a focal point for investors and enthusiasts alike. Historically, these halvings have been followed by significant price increases for Bitcoin, leading many to believe they are a reliable indicator of future bull runs. However, the relationship between halvings and price is more nuanced than a simple cause-and-effect scenario. The core principle behind the price impact lies in scarcity. By reducing the rate at which new Bitcoins are created, halvings limit the overall supply. In a market driven by supply and demand, a decrease in supply can theoretically lead to an increase in price, as long as demand remains steady or increases. This anticipation of scarcity often fuels a price rise in the months leading up to the halving event. Investors see the limited supply as a bullish signal, prompting them to buy Bitcoin in hopes of future appreciation. However, the price doesn't always experience an immediate surge after the halving. The newly minted Bitcoins are a significant reward for miners, who contribute computing power to validate transactions on the Bitcoin network. The halving essentially cuts their income in half, which can lead to a temporary decline in mining activity, impacting the network's hashrate (total computing power). This initial drop in hashrate can cause a period of price consolidation, where the price trades sideways as the market adjusts to the new supply dynamics. The recovery from this consolidation phase is often described as "weak miners dying and hashrate recovering." Less efficient miners, who can no longer operate profitably with the reduced rewards, are forced to shut down their operations. This reduces the overall hashrate and makes the network more efficient as only the most powerful miners remain. As the hashrate recovers, typically within a few weeks or months, the price can experience a significant breakout, fueled by both the scarcity effect and renewed investor confidence. Looking at historical data, this pattern seems to hold true. Following the 2012 halving, the price of Bitcoin rose from around $11 to a peak of $1,100 in November 2013. Similarly, the 2016 halving was followed by a rise from $650 to nearly $20,000 by December 2017. The 2020 halving coincided with a bull run that saw Bitcoin reach an all-time high of over $69,000 in 2021. However, it's important to remember that these are just a few data points, and the cryptocurrency market is notoriously volatile. External factors such as economic conditions, regulatory changes, and broader market sentiment can also significantly impact Bitcoin's price. The most recent halving, which occurred in April 2024, presents an interesting case study. While the price did experience some pre-halving anticipation, it hasn't yet reached a new all-time high. Additionally, the hashrate recovery has been slower than in previous cycles, taking over 60 days compared to the 24 days observed in 2017. This could be due to a number of factors, including the ongoing global economic uncertainty and the increasing energy costs associated with Bitcoin mining. Only time will tell how the 2024 halving will ultimately impact the price of Bitcoin. However, by understanding the historical trends and the underlying economic principles at play, investors can make more informed decisions about their Bitcoin holdings. The halving cycle serves as a reminder that scarcity can be a powerful driver of price, but it's just one piece of the complex puzzle that shapes Bitcoin's value.
BITSTAMP:BTCUSDShort
by bryandowningqln
Crypto Market Update - June 28, 2024Bitcoin Daily Chart On the Daily Timeframe, Bitcoin continues it's consolidation following the epic plunge back down to the bottom of it's range on Monday. The current and the last three Daily Candles can be considered Inside Bars, indicative of consolidation and tightening volatility. They herald a potential reversal, and a breakout - although the breakout could come in either direction. Bitcoin's price found support at the 200 Simple Moving Average, a strong area of support. Volume Profile Analysis also shows us that Monday's lows wicked down into a Low-Volume Node, an area of liquidity where buyers stepped in, and so far Bitcoin is maintaining itself back within the High-Volume Node of it's current range ($60,600 - $71,400). Volume Delta shows that buyers have been in control today and over the past two trading days, and the Time Transformation Momentum Oscillator is recovering from it's overbought condition after printing a Reversal Buy Signal. Bitcoin Mining Analysis Analyzing the profitability and incentives of Miners has been a strong edge in my trading strategy. We can see that Bitcoin's price is at a historical "Back the Truck Up" zone, where' Bitcoin's price has tested the Average Production Cost to mine a Bitcoin. In Bitcoin's history, we have never seen price sustain itself below this level, however we have seen several occasions where price has wicked below, with the most notable being the March Meltdown in March of 2020. The Hash Ribbons Indicator lets us know that Miners are still in capitulation, and I believe that Ordinals and Runes are the main cause of this, as the demand for blockspace remains high, allowing miners to earn significant revenues from fees rather than having to focus on block rewards, allowing them to continue to sell. The NVT Indicator is still in a downtrend. Simply put, we are at a critical area of support where historically, capital allocation into Bitcoin has been the correct play. There are significant macro headwinds that may alter Bitcoin's reaction moving forward, potentially pushing us into unchartered territory.
BITFINEX:BTCUSD
by CrackingCryptocurrency
#Bitcoin Urgent Update!#Bitcoin just hit the yellow box, validating this chart with 100% accuracy. Lesson: Charts don't lie! $60k is a crucial support level, but there's significant liquidity around the $57k mark. I've been cautioning against leveraged trading for weeks. If you've dabbled in it, you know the struggle—pain and depression are part of every cycle. The market often reverses right after you give up on your altcoin bags and close leverage positions at a loss. It's a recurring pattern. So, I've been advising to stay away from leverage. Even my altcoin holdings are down, and I'm not buying yet. When I do, you'll be the first to know. Follow for more updates and don't forget to hit the like button if you find my insights valuable. Thank you. Stay strong. WAGMI #Crypto
by Cryptorphic
4
Bitcoin Entering A Large Demand Zone- Bounce or Break Down?Hey everyone! It's been a while since I have posted some technical analysis as I have been taking a bit of a break from the markets. But now I am back in the game, it's time to get back to some good ole charting! So now that I am back on that BTC trading grind, it's time to get back to some TA posts. Bitcoin has been getting pretty hammered for a while at this point. BTC's price is hitting into a large demand zone in the 58K-60K range. We haven't broken the 60K price range yet, and we are showing some oversold conditions with momentum pretty much in the toilet. The next big demand zone below where we are now is in the 40K range, but I highly doubt that we will break down that low. It's absolutely possible though, so if I were you, I would be safe guarding my stacks until we know for sure, but of course, this is not financial advice. My play is to day trade futures and then stack some cheaper on-chain BTC while the prices are low and lowering average DCA price. I will keep stacking like this until we break above 74K, then I will hold what I have until we top out for the cycle and trade into stablecoins to ride the wave down. Be watching for a bounce at or around this level, it could be a good chance to go long and make some good profits. Of course on the flip side, we need to be watching for a break down below this zone. If that happens, I am going to be looking at 40K for the next stop as there really isn't much market support below the level we are in now. Do you think the Wall Street players and their ETFs will let Bitcoin go below 58K? Would love to know your thoughts in the comments!
COINBASE:BTCUSD
by thelogicaldude
Bitcoin Market Update - June 24, 2024Bitcoin's Weekly Candle closed bearish, opening at $66,676.88 and closing at $63,210.01 - a decline of -5.20%. This is Bitcoin's second negative close in a row. Bitcoin Weekly Chart w/ Indicators Volume Profile Analysis shows that Bitcoin has reached the bottom zone of the High-Volume Node we have been ranging in since achieving a new All-Time High in March. A Low-Volume Node lies below us, stretching from approximately $60,823 to $52,581. As we have seen many times, price moves quickly through Low-Volume Nodes to seek liquidity in High-Volume Nodes. Thus, a descent into the LVN would shatter any expectations of support until the $52,000 zone. There are small bumps within the Volume Profile, giving potential Take Profit Targets for short positions or potential bounce zones for quick counter-trend Longs at $59,210 and $57,025. Price is currently testing the Weekly 21EMA, which served as Support on our last encounter with it the week of April 29th. Following that test, Bitcoin was able to rally approximately 27% to form a higher low within the range. The Weekly Volume Delta Indicator also shows that while Sell Volume has been and is still dominant, that Delta is decreasing, meaning that Buys were more prominent last week than the week prior. With a fresh weekly candle, this is a metric I will watch closely to gauge the potential for a reversal in price. Bitcoin 3D Chart Bitcoin's 3D chart gives us more clarity. Volume Delta has increased over the last three candles, culminating with the highest sell pressure we've seen in over a week. This occurs as we test the 3D 55EMA, which similar to the Weekly 21EMA, resulted in a 27% bounce the last time we came close. 3D Time Transformation is very close to the oversold level, and we are lower than the last registered low of TT on this timeframe back in January of 2024, which was the bottom of the Opening Year Slump. High sell volume coming into an area of Support often results in temporary reversal of price. Bitcoin Daily Chart The Daily Chart shows us in very close proximity to the 200 DEMA, a level that has not been tested at all this Bull Run. Volume Delta shows overwhelming sell pressure that we have not seen since the last "bottom" on May 01 of this year, which again, resulted in a 27% bounce. Time Transformation is oversold to a degree that we have not seen since the previous Market Cycle Bottom in August of 2023. Bitcoin 4H Chart Moving down to the 4H Chart, relevant points are that Time Transformation is oversold, and the previous 4H candle registered such high sell volume that we haven't seen since June 07, which was the Bearish Engulfing candle that began this current downwards trend. Tether Dominance Chart Moving to USDT Dominance, we can see that on the Weekly Chart, USDT Dominance is in the process of confirming a Double-Bottom (higher low) or W Pattern, if this Weekly Candle closes at the same price of higher, that will be a successful close above the neckline, and potentially a close back above the 200 WEMA as well. This successful completion would move USDT Dominance back up to 6.0-6.5% of the total crypto market cap, and serve as a much broader warning for a more-pronounced market correction. Bitcoin Exchange Flow cdn.prod.website-files.com Looking at Exchange Flow, we can see that last week Exchange Inflows dominated, however they decreased in strength as the downtrend progressed. Saturday witnessed a net outflow of Bitcoin, and Sunday saw a very mild inflow of Bitcoin to exchanges. Bitcoin Miner Net Position Change cdn.prod.website-files.com Miners are still selling, however they have begun to decrease their selling volume. This trend has historically led to short-term reversals in Bitcoin's price. Bitcoin HODLer Cohort Net Position Change cdn.prod.website-files.com The HODLer cohort is also selling, and this trend has not slowed. Conclusion In conclusion, although short-term price action indicates we have reached an important level of support where selling pressure seems to have reached a climax, there is insufficient buying pressure from the HODLer cohort or clear signs of bullish conviction to justify spot entries into Bitcoin at this point. Investors should continue to sit in cash, and await more lucrative buying opportunities, and traders should wait for more clear signs of a potential reversal before entering long positions.
CRYPTOCAP:USDT.D
by CrackingCryptocurrency
[LONG] Reputable news sites say BTC is 7 days away from going up**Technical Analysis: Bitcoin (BTC) Daily Chart** **Current Market Situation:** Bitcoin (BTC) is currently trading at a critical support level, with the daily chart indicating a high likelihood of a reversal in the near term. The Relative Strength Index (RSI) is hovering around 30, signaling that the cryptocurrency is approaching oversold territory. **Oversold Conditions:** The RSI, a popular technical indicator, measures the speed and change of price movements. A reading below 30 typically indicates that the asset is oversold, suggesting a potential rebound. With BTC's RSI hovering around this level, it's likely that the selling pressure will soon subside, paving the way for a potential rally. **Support Level:** The last lowest support level was $59,000. This level has been tested on multiple occasions, and a bounce from this $63,100 could propel the cryptocurrency higher. **Bullish Sentiment:** Reputable news websites are reporting that a BTC price surge is imminent, with some sources suggesting that the cryptocurrency is just 7 days away from a significant upward move. This bullish sentiment, combined with the oversold conditions on the daily chart, creates a compelling argument for buying BTC at current levels. **Buying Opportunity:** Given the confluence of oversold conditions, support at $63,100, and bullish sentiment, now is an attractive time to consider buying BTC. The cryptocurrency's price is likely to rebound from this level, and with the next potential low already established at $59,000, the risk-reward ratio is skewed in favor of buyers. **Conclusion:** In conclusion, the technical analysis suggests that BTC is on the cusp of a potential reversal, with oversold conditions and a robust support level at $59,000. The bullish sentiment and imminent price surge reported by reputable news sources further reinforce the case for buying BTC at current levels. With the stars aligning in favor of a potential rally, now may be an opportune time to enter the market.
Long
by Henrywaters
Bitcoin and Global LiquidityWhenever global liquidity increases, this liquidity increase fuels Bitcoin and supports Bitcoin's rise. This pattern has been continuing in the form of a sine wave since 2009. Global liquidity falls at certain times and rises at certain times. Since 2011, global liquidity has been rising in a low-speed trend, exceeding the previous peak each time it rose. Global liquidity, which last peaked in 2022, returned to a slow increase at the beginning of 2023. I think there is currently at least a 100% gap for this rise to be completed. I think Bitcoin will also rise as this gap is filled. I think it is essential for at least a long-term cryptocurrency investor to follow global liquidity closely. While this global liquidity is not meaningful to explain the SP500 or Nasdaq indexes, it appears to be in full correlation with Bitcoin.
TVC:CN10YLong
by YavuzAkbay
Bitcoin Log Channels CRITICALIn the long term, Bitcoin is in a logarithmic channel. The levels of this channel indicate how cheap and how expensive Bitcoin is. The aqua-colored channel represents the exceptionally cheap region that Bitcoin has never entered in history. The yellow channel has always represented times in history when Bitcoin has been cheap. Therefore, if the 62k level is broken right now, Bitcoin will enter the cheap channel. If this happens, it will give Bitcoin one last buying opportunity before the next bull. The red area is the area that is usually seen in the bull market and where Bitcoin is relatively expensive. It is recommended to hold, not buy, in this area. The blue area is where Bitcoin peaks. It is usually advisable to sell within the blue channel.
INDEX:BTCUSD
by YavuzAkbay
Cautious Investment Strategies Amid Bitcoin Market VolatilityGiven the recent drop of Bitcoin below the $65,000 level, Bitcoin is currently experiencing downward pressure, with the price nearing critical support levels. In my view, these fluctuations suggest that the market may not be suitable for investors with a low risk tolerance. First Support Level: $63,000 – This level is an important point to monitor market reactions. If stabilization occurs at this level, buying interest that can be leveraged may appear. Should the price break through this first support and reach $60,000, the market should be carefully evaluated for entry as this area might be a potential turning point for recovery. This means that a gradual buying strategy can be implemented starting at $63,000 and increased if the price approaches $60,000, thereby enhancing the average entry price and reducing risks in the event of a sudden decline. Before buying, the anticipated risks should be identified and evaluated, and the market's readiness to receive lower price levels should be considered. External considerations such as economic developments, policy updates, and geopolitical conditions can significantly impact the market. These factors should be taken into account before making a purchase decision. Current analyses suggest a cautious approach to investing in Bitcoin. Investments should be carefully considered, focusing on support levels and using a gradual buying strategy to improve the average purchase price and minimize exposure to high volatility. If you prefer to avoid high risks, it may be wise to wait until the market shows stronger signs of stability and recovery.
COINBASE:BTCUSD
by bbitar