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BTCUSDT. Here's where we we're headed tooIf the market momemtum/sentiments and fluctuating prices of the crypto market is confusing you, technicals analysis is your best friend. 1) Monthly: No explanation needed. We're on a clear path to 60,653, after a couple of retest on the month + week support/resist zone. 2) Weekly: Similar story on the monthly, with 2 minor resistance levels to clear. Scalpers zone right now, milking short term volatile gains. Good time to enter and hold TBH. #NFA #MyOwnOpinion 3) Day: Talking the month and weekl resistance zone, I forecasted an ascending triangle pattern for bullish momentum to continue, after completing its sideways trend *The longer the consolidation, the stronger the pump. My personal entries. - Entered long on 41,363, when resist turned supoort. - Buy limit on 46,700 (expecting retracements from 50,000 level
Long
by lesnermj
BitcoinMost Altcoins have been in the red since the weekend and the past 24 hours have been no different. Ethereum is currently down 2% and below $2,200. Binance Coin (-1.5%) has dropped below $240. Even larger daily drops come from Ripple, Dogecoin, Polkadot, and Polygon. Solana has lost 5% on the day and is down to just under $70. Cardano and Avalanche have dropped the most compared to larger-cap Altcoins. ADA is down 6%, while AVAX is down 9% and trading below $40. The cumulative market capitalization of all crypto assets has fallen by $50 billion since yesterday's peak of $1.6 trillion and dropped to $1,550 on CMC.
INDEX:BTCUSDShort
by D-Venn
3
Bitcoin Price Hovers Above $40,000 Ahead of FOMCBitcoin (BTC) is showing weakness ahead of the Federal Open Market Committee (FOMC) meeting scheduled for December 13. Federal Reserve Chairman Jerome Powell is expected to provide an economic forecast summary after the release of the Consumer Price Index (CPI) data, indicating that inflation in the U.S. has decreased to 3.1%, aligning with market expectations. Bitcoin Price Prepares for Increased Volatility Before FOMC Investors have shown caution and reduced risk ahead of the FOMC meeting, evident in a 40% decrease in trading volume over the past 24 hours. After the announcement of the U.S. CPI data for November, the Bitcoin price briefly surged to $42,000 before retracing. Looking ahead, the prevailing view is that the Fed will maintain interest rates at the target range of 5.25-5.50%. In the latest meeting in November, the FOMC kept interest rates steady, as in the September meeting, signaling that rates may remain unchanged in the near future but are still open to change based on economic conditions. The decision to pause interest rate hikes is widely anticipated, providing the Fed with additional time to determine whether the current interest rates effectively curb inflation's impact on economic growth. The range of 5.25% to 5.50% was raised in the July meeting, marking the 11th interest rate hike in the 2022/2023 cycle, all aimed at managing inflation. This explains the observed unease in the Bitcoin price. Implications for Bitcoin Price The increase in interest rates makes investors more cautious, negatively impacting risk-based assets like cryptocurrencies. According to the CME FedWatch tool, there is a 97.1% chance that the Fed will keep the Federal Funds Rate target at 5.25% to 5.50% in the upcoming FOMC meeting, while 2.9% of opinion polls predict a change to 5.50-5.75%.
BITSTAMP:BTCUSD
by Gwen_Humuna
#BTC/USDT #BTC Bitcoin is trading in an upward trend to the 37000 $ level. After the price broke the 27,800 $ level, which is a strong resistance level. Once it was breached, the price went up after the bearish flag breached the major one. We expect the price to rebound to test the 27,800 $ level to 31,000 $ again and proceed sideways at those levels until the beginning of 2024. It is expected to break the 37,000 $ level, heading to the 68,000 $ levels, in the period from April 2024 to June 2024. All of this is supported by significant momentum on Bitcoin. A lot of positive news in the coming period I hope the analysis helped you.
Long
by CryptoAnalystSignal
Bitcoin: "Gold on Steroids" with Institutional InfluxBitcoin has frequently been compared to Gold over the years. Initially deemed a "safe haven" similar to Gold, analysts are currently evaluating these two investments to determine if Bitcoin meets the criteria as "Gold on steroids." Relative returns are adjusted for the risk of Bitcoin compared to Gold. Over the past 5 years, up to November, Bitcoin's Sharpe Ratio has competed favorably when compared to Gold and other proven asset classes in the market. The Sharpe Ratio is defined as the difference between the return of an investment and the risk-free rate divided by the standard deviation of the investment. Simply put, the Sharpe Ratio adjusts performance for risk beyond what investors would bear for a specific asset. Jurrien Timmer, Global Macro Economic Director at Fidelity, notes that Bitcoin's correlation with the S&P 500 (+40%) is higher than that of Gold (+14%) over a 5-year period. However, the correlation between BTC and the US stock market has decreased over the years and is lower than most asset classes. Over the past 12 months, the correlation between BTC and the S&P 500 has decreased from 40% to 25%. Timmer argues that Bitcoin is more volatile than most other assets, but the volatility impacts both ways, and BTC investments have their own risk-reward characteristics, as seen in the past decade. According to a CoinShares report, institutional investors continue to pour money into Bitcoin funds, with a weekly inflow of $132.8 million as of December 4th. At the time of writing, the price of Bitcoin is $44,162 on Binance.
BITSTAMP:BTCUSD
by Gwen_Humuna
ETH Bullish Entry IdeaImportant Price Point to decide short-term movement, As ETH has broken the long-term resistance and trendline, the medium to long-term outlook is bullish and it would be wise to go long. If the price point breaks the trendline and crashes it would be a good point of entry. Long positions could be entered above the support zones with stop loss according to risk-reward ratio comforts. The Market Fundamentals and Overall Crypto Market Sentiment should also be considered before any action. Note: Not Investment/Trading Advice. Purely Personal Views. DYOR Before investing or trading. Not responsible for P&L arising out of this idea.
Long
by tradewidmufeeth