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BTC/USD H4 Update BTC is finding support on the .382 level of the most recent impulse on the H4 timeframe. The price action is also finding support on the H4 100 simple moving average. RSI is 44 at time of publishing. Price is also near a local rising support. I think anything at or above the .382 retracement level is a good buy for the weeks to come. We might have a few days of sideways as the bull flag forms. Not financial advice. Do your own DD. Thanks for viewing the idea.
BITSTAMP:BTCUSDLong
by BallsOfSteel32
Will the US Elections Cause Bitcoin's Price to Fluctuate? Bitcoin, the world's largest cryptocurrency, has experienced a recent price dip amidst rising geopolitical tensions and investor uncertainty. The cryptocurrency market is bracing for potential volatility as the United States gears up for its upcoming presidential elections. Recent Price Dip and Market Sentiment The recent decline in Bitcoin's price can be attributed to several factors. Firstly, the ongoing geopolitical tensions, particularly between the US and China, have created uncertainty in global markets. Secondly, concerns about a potential global economic slowdown have also contributed to the bearish sentiment. However, despite the recent price dip, many analysts remain bullish on Bitcoin's long-term prospects. They believe that the cryptocurrency's underlying technology, blockchain, has the potential to revolutionize various industries. Moreover, Bitcoin's limited supply and decentralized nature make it an attractive investment for those seeking to hedge against inflation and economic instability. US Elections and Market Impact The upcoming US presidential elections are expected to significantly impact the cryptocurrency market. A change in administration could lead to shifts in regulatory policies, which could, in turn, affect the price of Bitcoin and other cryptocurrencies. Historically, the cryptocurrency market has exhibited heightened volatility during election years. Investors are advised to closely monitor political developments and their potential impact on the market. Diversification Strategy for Navigating Market Uncertainty To mitigate the risks associated with market volatility, analysts suggest diversifying investments across various asset classes. This includes Bitcoin, gold, commodities, and tech stocks. • Bitcoin: As a decentralized and digital asset, Bitcoin offers potential for long-term growth and diversification benefits. • Gold: Traditionally considered a safe-haven asset, gold can provide stability during times of economic uncertainty. • Commodities: Investing in commodities like oil, natural gas, and agricultural products can help hedge against inflation and economic fluctuations. • Tech Stocks: The technology sector has been a major driver of market growth in recent years. Investing in tech stocks can provide exposure to innovative companies and potential high returns. By diversifying their portfolios, investors can reduce their exposure to specific risks and increase their chances of achieving long-term financial goals. Technical Analysis: Short-Term Outlook From a technical analysis perspective, Bitcoin's recent price action suggests a potential period of consolidation. The cryptocurrency is currently trading below key resistance levels, and a break above these levels could signal a bullish trend. However, if Bitcoin fails to break above these resistance levels, it may experience further downside. Conclusion While the recent price dip and upcoming US elections have created uncertainty in the cryptocurrency market, Bitcoin's long-term potential remains strong. By adopting a diversified investment strategy and staying informed about market developments, investors can navigate the volatile market and capitalize on potential opportunities. Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Please consult with a qualified financial advisor before making any investment decisions.
BITSTAMP:BTCUSD
by bryandowningqln
BTC/USD on the daily timeframe - Potential Golden CrossPotential Scenarios: Bullish Continuation: If the price successfully retests the $64,000-$65,000 level and holds, there could be a strong continuation to the upside. In this case, the price could target $69,000-$70,000 initially, with a longer-term target of $75,000. False Breakout and Consolidation : If the price fails to hold the $64,000-$65,000 level, we might see a false breakout scenario, leading to a consolidation back within the old descending channel. This could open the door for a retest of lower supports around $58,000 or even lower. Bearish Reversal: The newly established rising channel could also act as a bear trap if Bitcoin fails to break the $69,000 resistance. In this case, a break below the rising channel support would indicate a potential reversal back into the descending trend. Final Summary: Overall this leans towards a bullish breakout, but it’s essential to keep an eye on the potential retest at $64,000-$65,000. A solid bounce off this support would reinforce the bullish trend, while a break below could suggest caution. Watch the RSI and MACD for any emerging divergences or momentum shifts that might indicate a change in trend. Stay aware of the market’s behavior as we approach Election Day, as geopolitical or macroeconomic events could significantly impact market sentiment.
GEMINI:BTCUSDLong
by Stoxello
Weekly cup and handle showing its true face1. Cup and Handle Pattern The large white arc indicates a potential Cup and Handle formation, a bullish continuation pattern. This pattern usually suggests a potential breakout if confirmed. The cup forms after a rounded bottom, while the handle forms as a consolidation after the initial rise, often before a breakout. The price action to the right, after the cup, suggests the handle formation with consolidation occurring between $60,000 - $70,000. 2. Support and Resistance Levels Multiple horizontal lines of different colors (green, yellow, red) highlight key support and resistance levels: Support levels seem to be around $59,000, $60,000, $61,000, and $62,000. Resistance levels around $66,000, $67,000, and higher, with the current price at $66,770. The chart shows a clustering of price activity around these levels, indicating significant market reactions (buying and selling) at these points. 3. Trendlines The blue descending lines indicate a downtrend or correction after the local high above $66,000. However, the price has broken above this trendline, which might suggest a potential reversal or continuation of the bullish trend. This breakout from the downward trendline supports the bullish case for a further price rise. 4. Indicators Moving Averages (MAs): The chart includes what looks like a moving average (green line), which seems to be supporting price action. The moving average is following the general uptrend, which could indicate a bullish momentum. There are blue dots placed on key points along the price chart, possibly indicating buy signals or moments when the price crossed significant thresholds, such as moving averages or support/resistance levels. 5. Volume and Momentum Although the volume is not directly visible in this screenshot, the pattern’s significance, combined with breaking key resistance levels, suggests increasing buying momentum. 6. Price Targets If the Cup and Handle pattern plays out, the price target could be significantly higher than the resistance at $67,000. Typical cup and handle breakouts measure the height of the cup and project that upwards, which could push BTCUSD toward new all-time highs. 7. General Sentiment The overall sentiment appears bullish, as indicated by the potential Cup and Handle formation, breakout of the downtrend, and the strong support levels holding up the price. In summary, this analysis suggests that BTCUSD is testing significant resistance at $66,770. If the Cup and Handle pattern is confirmed and the price breaks above $67,000 with strong volume, it could signal a continuation of the bullish trend toward higher price targets. However, if the price is rejected at these resistance levels, a retest of support around $61,000–$62,000 is possible.
BITSTAMP:BTCUSDLong
by Btuqamachi7
Bitcoin (BTC/USD) on a 4-hour timeframeBearish Scenario : If the price fails to break the upper boundary of the descending channel and the small triangle pattern breaks to the downside, we could see a retracement toward the mid-channel area of $64,000, with further downside potentially extending toward the lower channel boundary around $53,000. This move would align with the weakening indicators, such as the RSI and MACD, which are showing signs of bearish momentum. Bullish Scenario: On the other hand, if the triangle pattern breaks to the upside, Bitcoin could retest the upper boundary of the channel around $68,500 - $69,000. A decisive breakout above this channel would invalidate the bearish channel pattern and could set up a potential move toward the $70,000 - $73,000 levels, provided that buying volume supports the move.
GEMINI:BTCUSD
by Stoxello
BTC&ETH Oct. 25 Options Data63,000 BTC options expired with a Put Call Ratio of 0.66, a Maxpain point of $64,000 and a notional value of $4.26 billion. 403,000 ETH options expired with a Put Call Ratio of 0.97, a Maxpain point of $2,600 and a notional value of $1.02 billion. Today is the monthly cryptocurrency delivery, with Bitcoin oscillating high and one step away from new highs, while Ether is instead struggling near new lows for the year, with the rate already at a new low since 2021. This year's October market is less than expected, the next main line of the market is the U.S. election, and now the BTC flat IV on November 8 is stabilized at 55%, which is perfect for building a position against the U.S. election.
BITSTAMP:BTCUSDLong
by Greeks_live