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Bitcoin Rebound as War Fears Subside, Bullish Technicals EnsueBitcoin, the world's leading cryptocurrency, has embarked on a significant rally in recent weeks, defying predictions of a prolonged slump triggered by the Russia-Ukraine conflict. As war fears recede, investors appear to be regaining confidence in the digital asset, propelling its price upwards. Several factors are contributing to Bitcoin's resurgence: • Waning War Threat: The initial market panic triggered by the outbreak of the war has subsided somewhat. While the conflict remains a concern, hopes for a potential diplomatic resolution have bolstered investor sentiment. This has led to a broader risk-on environment, benefiting Bitcoin alongside other asset classes. • Technical Breakout: From a technical analysis perspective, Bitcoin appears to be breaking out of a bullish continuation pattern known as a bull flag. This pattern typically indicates a period of consolidation following a strong price increase, followed by another leg up. The recent price action suggests a potential breakout from this pattern, which could fuel further gains. • New Support Level: The recent price dip found support around $66,000, establishing a potentially new floor for Bitcoin. This level of support indicates increased buying pressure at that price point, which could prevent further significant declines. • Limited Downside Risk: Analysts point out that compared to its all-time high of over $69,000, Bitcoin's current price represents a relatively limited downside risk. This, coupled with the potential for further upside based on technical indicators, makes Bitcoin an attractive proposition for some investors. Is the Rally Sustainable? While the current momentum is positive, questions remain about the sustainability of Bitcoin's rally: • Macroeconomic Uncertainty: The broader macroeconomic environment remains uncertain. Rising inflation and potential interest rate hikes by the US Federal Reserve could dampen investor enthusiasm for riskier assets like Bitcoin. • Regulatory Scrutiny: Regulatory scrutiny surrounding cryptocurrencies continues to be a concern. Increased government oversight could potentially stifle innovation and adoption, impacting Bitcoin's long-term prospects. • Volatility Remains: The cryptocurrency market is inherently volatile. Despite the recent rally, Bitcoin's price could experience significant fluctuations in the future. Investors should be prepared for this volatility and maintain a risk-tolerant investment strategy. Looking Ahead The future trajectory of Bitcoin remains to be seen. While the recent breakout from the bull flag pattern suggests potential for further gains, several factors could impact its price movement. Investors should closely monitor geopolitical developments, macroeconomic data releases, and regulatory pronouncements related to cryptocurrencies. Despite the uncertainties, Bitcoin's recent rally demonstrates its potential as a volatile yet potentially high-reward asset class. As the cryptocurrency market matures and gains wider acceptance, Bitcoin's long-term prospects remain intriguing. However, careful consideration of the associated risks is essential before investing in this volatile digital asset.
BITSTAMP:BTCUSDLong
by bryandowningqln
BTC - ☀️ & Bullish Potential For The Next Week A very strong sun shines over Bitcoin and Chainlink in the next 24 hours, indicating some upside potential lying ahead. Other altcoins, including Ether, Ripple’s XRP and Cardano will also profit from this bullish trend, while Litecoin and Uniswap face bearish clouds. These sunny bullish trading conditions should prevail over the cryptoverse the coming week, as leading tech companies will announce their quarterly results. Avalanche, Binance Coin and Uniswap won’t profit from this bullish mood and face bearish clouds, which signal downside risks. “A massive supply shock is coming. With the Bitcoin halving, miners can now only produce 450 BTC each day. The ETFs in the US have bought up around 3,214 BTC on average each day. This number could increase significantly when Hong Kong ETFs start trading,” the crypto profile Lark Davis said. Analysts at leading banks disagree on whether the price of Bitcoin will continue up following Friday’s halving. Deutsche Bank expects prices to “stay high due to expectations of future spot ether (ETH) ETF approvals; future central bank rate cuts; and regulatory changes” but do “not expect them to increase significantly,” Bitcoin.com reports. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDLong
by ATTMO
$NFP Breakout Double Bottom Trading the double bottom pattern involves identifying a bullish reversal pattern on a price chart and making trading decisions based on the pattern's confirmation. Here's a step-by-step guide on how to trade the double bottom pattern: 1. **Identify the Double Bottom Pattern**: A double bottom pattern appears on a price chart after a downtrend and consists of two consecutive troughs (lows) with a peak (high) between them. The lows are approximately equal and signify a possible reversal in the downward trend. 2. **Confirm the Pattern**: Before initiating a trade based on the double bottom pattern, it's essential to confirm its validity. Look for several signs to confirm the pattern: - Volume: Ideally, the volume should decline as the pattern forms and increase when the price breaks above the confirmation level. - Symmetry: The two troughs should be roughly equal in depth and width, forming a "W" shape. - Price Breakout: Wait for the price to break above the peak (high) between the two troughs, confirming the pattern. 3. **Entry Point**: Enter a long position (buy) once the price breaks above the peak (high) that separates the two bottoms. Some traders prefer to wait for a slight pullback after the breakout for a better entry point. 4. **Stop Loss Placement**: Place a stop-loss order below the lowest point of the double bottom pattern or slightly below the breakout level. This helps to limit potential losses if the pattern fails to hold, and the price resumes its downtrend. 5. **Take Profit Target**: Calculate the distance between the lowest point of the pattern (the bottom of the "W") and the peak (high) that separates the two bottoms. Then, project this distance upwards from the breakout point. This distance can serve as a potential target for taking profits.
Long
by Crypto-Adda_Official
1
$RLC looks amazing for a midterm Trading the double bottom pattern involves identifying a bullish reversal pattern on a price chart and making trading decisions based on the pattern's confirmation. Here's a step-by-step guide on how to trade the double bottom pattern: **Identify the Double Bottom Pattern**: A double bottom pattern appears on a price chart after a downtrend and consists of two consecutive troughs (lows) with a peak (high) between them. The lows are approximately equal and signify a possible reversal in the downward trend. **Confirm the Pattern**: Before initiating a trade based on the double bottom pattern, it's essential to confirm its validity. Look for several signs to confirm the pattern: ` - Volume: Ideally, the volume should decline as the pattern forms and increase when the price breaks above the confirmation level. - Symmetry: The two troughs should be roughly equal in depth and width, forming a "W" shape. - Price Breakout: Wait for the price to break above the peak (high) between the two troughs, confirming the pattern. ` **Entry Point**: Enter a long position (buy) once the price breaks above the peak (high) that separates the two bottoms. Some traders prefer to wait for a slight pullback after the breakout for a better entry point. **Stop Loss Placement**: Place a stop-loss order below the lowest point of the double bottom pattern or slightly below the breakout level. This helps to limit potential losses if the pattern fails to hold, and the price resumes its downtrend. **Take Profit Target**: Calculate the distance between the lowest point of the pattern (the bottom of the "W") and the peak (high) that separates the two bottoms. Then, project this distance upwards from the breakout point. This distance can serve as a potential target for taking profits.
Long
by Crypto-Adda_Official
BITCOIN BUYBitcoin, the pioneering cryptocurrency, has been a subject of fascination and speculation since its inception. As of April 20, 2024, several factors are converging to potentially drive its value higher, making it an enticing investment opportunity for many. (1) Adoption by Institutions: Over the past few years, there has been a significant increase in institutional adoption of Bitcoin. Major financial institutions, including banks and investment firms, have started offering Bitcoin-related services to their clients. This trend is expected to continue as more institutions recognize Bitcoin's potential as a store of value and hedge against inflation. (2) Regulatory Clarity: Regulatory uncertainty has long been a concern for cryptocurrency investors. However, as governments around the world develop clearer regulations for cryptocurrencies, it provides a sense of legitimacy and stability to the market. Investors are more likely to feel confident in investing in Bitcoin when regulatory risks are mitigated. (3) Technological Innovations: The Bitcoin network continues to evolve, with developers constantly working on improving its scalability, privacy, and security. Layer 2 solutions like the Lightning Network enable faster and cheaper transactions, making Bitcoin more practical for everyday use. These technological advancements enhance Bitcoin's utility and attractiveness to both investors and users. (4) Global Economic Uncertainty: Economic uncertainty, fueled by factors such as geopolitical tensions, inflationary pressures, and volatile stock markets, often drives investors towards alternative assets like Bitcoin. As a decentralized digital currency, Bitcoin is immune to the whims of any single government or central bank, making it an attractive hedge against economic instability. (5) Halving Events: Bitcoin's supply is capped at 21 million coins, and its issuance rate decreases over time through a process called "halving." Approximately every four years, the reward for Bitcoin miners is halved, reducing the rate at which new coins are introduced into circulation. Historically, these halving events have been associated with significant increases in Bitcoin's price, as they reduce the rate of supply growth, leading to increased scarcity. (6) Market Sentiment: Market sentiment plays a crucial role in determining the price of Bitcoin. Positive news developments, increased media coverage, and growing interest from retail and institutional investors can create a bullish sentiment in the market, driving prices higher. As Bitcoin becomes more mainstream and accepted, positive sentiment is likely to continue fueling its upward trajectory. In conclusion, the landscape for Bitcoin appears promising as we approach April 20, 2024, with a confluence of factors pointing towards a potential increase in its value. However, it's essential for investors to approach cryptocurrency investment with caution and diligence.
BITSTAMP:BTCUSDEducation
by Pro-Trading-Africa
$CKB performing Falling wedge in 4hr TF Keep eyes on it Sure, here are three key points on how to trade in a falling wedge pattern: 1. **Identify the Falling Wedge:** Look for a downward sloping trendline connecting the lower highs and a second trendline connecting the lower lows, creating a wedge shape. The price should be gradually narrowing within this pattern, indicating a potential reversal. 2. **Wait for Confirmation:* * Wait for confirmation of a bullish reversal. This can be signaled by a breakout above the upper trendline of the falling wedge pattern, accompanied by increased volume. This breakout validates the pattern and suggests that buying pressure may be overcoming selling pressure. 3. **Set Stop Loss and Target:** Set a stop-loss order below the lower trendline to limit potential losses in case the trade fails. Determine a target price based on the height of the wedge pattern, measured from the initial high to the low within the wedge, and project that distance upward from the breakout point. This provides a potential profit target. Remember to always manage risk and be cautious of false breakouts by waiting for confirmation signals before entering a trade.
Long
by Crypto-Adda_Official
2
$ENA Breakout Falling wedge in 2hr TF ** XETR:ENA Breakout Falling wedge in 2hr TF ** Trading a falling wedge breakout involves identifying a chart pattern called a falling wedge and executing trades when the price breaks out of this pattern. Here are the steps you can follow: 1. **Identify the Falling Wedge:** - Look for a downtrend in the price movement. - Identify converging trendlines where the upper trendline (resistance) slopes down at a steeper angle than the lower trendline (support). - The pattern resembles a wedge pointing downwards. 2. **Confirm the Falling Wedge:** - Confirm the pattern using other technical indicators like volume. Ideally, during the formation of a falling wedge, the trading volume should decrease. 3. **Wait for Breakout:** - Patiently wait for a breakout to occur. Breakout refers to the point where the price moves above the upper trendline of the falling wedge. - The breakout should ideally be accompanied by a noticeable increase in trading volume, confirming the strength of the breakout. 4. **Entry Point:** - Enter a long (buy) position as soon as the price breaks above the upper trendline. - Some traders prefer to wait for a confirmed close above the upper trendline to reduce the risk of false breakouts. 5. **Stop-Loss Placement:** - Set a stop-loss order below the lower trendline or a recent swing low. This helps limit potential losses in case the breakout fails and the price moves back into the wedge. 6. **Target Price:** - Determine a target price based on the height of the wedge. Measure the distance from the widest part of the wedge to the starting point of the wedge and project that distance upwards from the breakout point. Remember that trading always involves risks, and it's crucial to have a well-thought-out strategy, risk management plan, and the discipline to stick to your plan.
Long
by Crypto-Adda_Official
Bitcoin - Dont Fear The Dip MartyBoots here. I have been trading for 17 years and I am here to share my ideas with you to help the Crypto space. The Bull market is here Even tho the bull market is here BTC has not fully mooned yet there is still time to buy on DIPS . The market has just hit a critical level but should go lower when ready. This is a bullish structure and dips are buys, when these dips happen BTC can start its move higher . This needs to be watched carefully. BTC To The MOON Please watch the video for more information
COINBASE:BTCUSDLong
by MartyBoots
BTCUSD | MT Long H4 | Continuing The Run-Up?Pair: HTX:BTCUSDT Timeframe: H4 - Medium Term (MT) Direction: Long Technical Confluences for Trade: - Stochastics are in Oversold Conditions on D1 and H1 time-frames - Price action may face resistances from being at the bottom of a parallel channel, there is a support trendline going through and there is a demand zone area as shown with the horizontal trendline - Price is close to 32.8% Fib retracement Level - Targeting to trade this position between the Supply-Demand zones as shown with the Horizontal Trendlines Fundamental Confluences for Trade: - Market stabilization from geopolitcal risks and US's strong economic data is happening and may bring back risk appetite - Fiscal dominance concern on the USD may see people try to buy BTC as a store of value (IMO, still not a store of value but as long as the market feels so, I'll go with it first) - Further war escalation from the Israel-Iran tension may bring on risk-off moves and see the BTC fall Suggested Trade: Entry @ Area of Interest 61,500 - 63,500 SL @ 59,843 TP 1 @ 62,648 (Close Half-Position & move SL to Entry level once TP1 is achieved) TP 2 @ 68,838 Risk-to-Reward @ Approx. 2.20 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
BINANCE:BTCUSDLong
by weekendanalyst
BTC UPDATE ✅The daily structure on CRYPTOCAP:BTC is still bullish as long as we don't break and close below $59,200. My average entry for spot buy is at $61,900 after all three fills. This could be the best possible opportunity to buy since the RR would be great because of invalidation just daily close below $59K. Daily also seems to be forming this bullish AB = CD structure and there are two equal lows on daily aswell. But the smaller timeframe structure (4H, 1H) is definitely bearish, although the last night's low was not able to close below previous $59,652 low so there is no valid BOS but in any case we need a break and solid close above FWB:67K to be bullish back again imo or atleast a close above $64.5K to make that move. The only reason I emphasize upon buying right here is because the invalidation for bulls on daily is just too close, a small $1000 drop and the whole structure would be bearish on daily but at the same time, a great buying opportunity too if this happens to be the low ✅
Long
by GeorgeZoros
Bitcoin Short Term Bottom FormedBTC is expected to halve in these few days. Everyone observing BTC price reaction to the halving. While we have historical data showing BTC price surge higher after 1 year in the previous 3 times halving. However, many investors are not so sure about the current halving will bring the same effect. Due to BTC wasn't in high demand in 2012, while 2020 BTC's price was mainly driven by Central Banks flooding the market with cash & causing the BTC's price surge to new high. With BTC ETF legalization, this could increase the BTC volatility due to more demand than ever. Let's get back to reality, the present moment of BTC is showing sign of bottoming with high volumes generated at yesterday price low & causing the price recover slightly. Based on our analysis, this is a sign of the BTC's "Big Boys" are supporting the price. Which could lead to rebound in the short term. Could be a good chance to long BTC for any short term gains. Any further gains after that, we would need to watch again until then.
INDEX:BTCUSDLong
by ROUNDnSURGE89
BTCUSDT OUTLOOKThe $59000-$61.000 range is a very good entry area before halving, but this price depends on Bitcoin Price Action (BTC) and depending on news from the war taking place in the Middle East. Here are some factors to consider: 1. BTC price action: Keep an eye on BTC price action. If BTC starts to drop, then MANTA is likely to follow. 2. Volume: Look for increased volume on MANTA. This could indicate that buyers are entering the market. This is not Financial Advise!. It is important to do your own research before making any trading decisions.
Long
by mrskyzo
BTC Bull Flag Potential Target $110,000 Bitcoin (BTC) has been consolidating recently, but analysts see this as a potential launchpad for a significant upswing. A technical chart pattern known as a "bull flag" is emerging, suggesting a bullish continuation could be in the cards. Bullish Flag in Play The bull flag pattern is characterized by a sharp price increase (the pole) followed by a period of consolidation within a narrowing price range (the flag). A breakout above the flag's upper trendline is typically seen as a bullish signal, indicating a continuation of the uptrend that preceded the consolidation. Analysts at Fairlead Strategies point to this formation on Bitcoin's chart, with the price consolidating above $30,000. A decisive break above the resistance level around $31,900, which coincides with the Ichimoku cloud indicator, could be the catalyst for a breakout. Targetting $110,000? If the bullish flag pattern plays out, technical analysis suggests a potential price target of $110,000. This target is derived by measuring the height of the flagpole (the initial price increase) and adding it to the breakout point. Not a Guaranteed Upswing However, it's crucial to remember that technical analysis is not a foolproof prediction method. The cryptocurrency market remains volatile, and unforeseen events can disrupt any predicted trajectory. Downside Risk also Present A breakdown below the bull flag's support level, currently around $51,000, would negate the bullish signal and could indicate a potential price decline. Cautious Optimism While the bull flag pattern offers a glimmer of optimism for Bitcoin bulls, investors should maintain a cautious approach. Close monitoring of price movements and adherence to sound risk management principles are essential when navigating the cryptocurrency market.
BITSTAMP:BTCUSD
by bryandowningqln
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
BITSTAMP:BTCUSDLong
by aironwinds
1
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
CRYPTO:BTCUSDLong
by Gamblers_Paradise