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BTCUSDT - UniverseMetta - Analysis#BTCUSDT - UniverseMetta - Analysis After reaching its all-time high (ATH) of $108,300, the price has remained in a prolonged bullish trend. Currently, there are signs that the 5th wave of the global trend may have completed its formation. The price exiting the ascending channel suggests the beginning of an ABC corrective structure. Key support levels are at $91,000 and $85,000, where portfolio allocation can potentially be increased. Target levels: $91,000 - $71,000
Short
by Trade-U-Metta
Technical Analysis: Aiming for the 140136.1 TargetWe still believe that the 90419.3 level on BINANCE:BTCUSDT.P serves as a strong support point that could drive the price toward the next target at 140136.1. The current technical analysis supports this scenario based on the following factors: Overall Trend: The uptrend remains intact, with prices holding above the 50-day and 200-day simple moving averages, reinforcing the potential for continued bullish momentum. Support and Resistance Levels: Key Support: 90419.3 (a pivotal level). First Resistance: 110000 (a psychological level likely to encounter selling pressure). Second Resistance: 140136.1 (the expected target). Technical Indicators: RSI (Relative Strength Index): Shows positive momentum and remains below overbought territory, leaving room for further upside. MACD: Displays bullish signals with a positive crossover above the zero line, indicating continued upward momentum. Volume: Suggests increased buying interest near the current support levels, strengthening the likelihood of a bounce. Chart Patterns: A potential "Bullish Flag" formation is observed on daily timeframes, supporting the case for achieving higher targets once the upper resistance line of the pattern is breached. Possible Scenarios: Bullish Scenario: If the price holds above 90419.3 and gains sufficient momentum, we may see a gradual rise toward 110000 initially, followed by a move toward 140136.1 in the medium term. Bearish Scenario: A break below 90419.3 could trigger a corrective move toward the next support level at 85000, delaying the upward targets. Recommendations: Closely monitor the 90419.3 level as a critical pivot point. Set stop-loss orders below this level to safeguard open trades. Consider adding long positions incrementally if strong support signals emerge on shorter timeframes.
Long
by luta_ksa
BTC took support from 97900, indicating strong weekly support Bitcoin's recent price action has showcased a significant level of support at **$97,900**, which many analysts and traders are closely monitoring. This level not only marks a psychological barrier but also aligns with key technical indicators that suggest a bullish outlook for the cryptocurrency. ### Current Market Context As of December 19, 2024, Bitcoin is trading around **$98,686.86**, having recently tested the **$97,900** support level. This price point has been reinforced by the **50-day moving average**, which adds credence to its strength as a support zone . The recent movement indicates that Bitcoin is attempting to consolidate above this critical threshold, potentially setting the stage for a rally towards the **$100,000** mark. ### Technical Indicators 1. **Fibonacci Levels**: Bitcoin has surpassed the **50% Fibonacci retracement level** at approximately **$83,592**, and is now eyeing the **78.6% level**, which exceeds **$100,000**. Analysts suggest that if Bitcoin can maintain its position above **$97,900**, it could catalyze further upward momentum towards these Fibonacci targets. 2. **Market Value-to-Realized Value (MVRV) Ratio**: The MVRV ratio currently stands at **2.56**, indicating that there is still room for growth before reaching historical peaks. This metric has historically been a reliable predictor of market tops and suggests that Bitcoin could continue to appreciate in value. 3. **Relative Strength Index (RSI)**: While the RSI indicates overbought conditions, suggesting a potential short-term pullback, it also reflects strong bullish sentiment as Bitcoin approaches significant resistance levels. Potential Outlook If Bitcoin successfully holds above the **$97,900** support level and breaks through the **$100,000** psychological barrier, it could trigger a broader market rally, potentially pushing prices towards **$110,000** as institutional interest and retail participation increase . However, traders should remain vigilant about potential corrections; some analysts predict a possible drop back to around **$85,000** if profit-taking occurs after hitting the $100K milestone
Long
by substantialTru300
Sentiment Cycle Indicator Performance (PAID)Performance Analysis of the Sentiment Cycle Indicator 1. Trend Identification: • The indicator has effectively highlighted bullish and bearish sentiment zones, as shown by the green (bullish) and red (bearish) background shading. This visual clarity makes it easy for traders to identify the prevailing market sentiment at a glance. 2. Buy and Sell Signals: • The Buy signals are well-timed, capturing upward price movements, especially during key reversal zones. • The Sell signals occur consistently in areas where bearish momentum starts to dominate, allowing traders to exit or short positions effectively. 3. Key Trades Observed: • Buy Example: Around the recent low near $100,000, the indicator generated a buy signal right before a significant upward move, aligning well with the trend shift. • Sell Example: Near $105,000, the indicator provided a sell signal ahead of a downward move, protecting traders from holding during the drop. 4. Market Choppiness Handling: • Even during sideways or choppy markets, the indicator avoids excessive false signals due to its clear sentiment zone shading, helping traders stay on the right side of the market. Why This Indicator Stands Out 1. Simplifies Complex Market Trends: • By combining sentiment analysis with buy/sell signals, the indicator provides traders with a comprehensive toolkit for decision-making. 2. Dynamic Market Adaptation: • The indicator adapts to real-time price movements, ensuring timely and accurate signals without lagging. 3. Perfect for Scalping and Swing Trading: • Traders can use the sentiment zones for scalping in smaller timeframes and for swing trading over longer horizons.
Short
by TradeTechanalysis
1
Bitcoin and altcoin overview (December 19-20)It's been about 2 weeks since our last analysis, and now we're returning with daily posts on weekdays, except for the New Year holidays of course.) During this time, Bitcoin traded within our two marked volume zones $100,000-$103,000(cluster anomalies) and $97,000-$94,400(braking volume) and has already managed to break out of this sideways movement, setting a new ATH again. At the moment, we have corrected to the buyer's zone of $102,000-$100,000(accumulated volume) and have already received a reaction. The main expectations are movement towards the local selling zone of $103,200-$104,200(maximum horizontal volume of the downward wave). In the near future, we should expect the formation of a full reversal structure and a retest of ATH, as we haven't seen any anomalous aggression or strong fixations from sellers yet. Selling zone: $103,200-$104,200(maximum horizontal volume of the downward wave). Buying zones: $102,000-$100,000(accumulated volume), level $94,200(buyer aggression), ~$80,000(volume anomaly), $77,000-$74,000(large volume zone). Interesting altcoins For SOL , we are in the buyer's zone and can now notice strong absorption of sales. We expect the formation of a reversal structure through the marked scenarios. If there's a complete breakthrough of $199, we'll cancel the quick recovery scenario.
by Crypto_robotics