Expired BTC.USD Weekly outlook. 2nd WK JUNE 2024Expired BTC.USD Weekly outlook. 2nd WK JUNE 2024 > BULLISH 📈 CORRECT Closed Price: 70,769 Target Price: 71,895 | Strike Price: 71,992 JUNE12 24' Upper Range: 87,841 Lower Range: 55,949 Longby putIQ1
A Bullish Outlook for BTCUSDIn the ever-evolving world of cryptocurrency trading, recent developments in global monetary policy have sparked renewed interest in the BTCUSD market. With the European Central Bank's (ECB) recent decision to trim interest rates and today's release of better-than-expected Consumer Price Index (CPI) data, coupled with ongoing speculation of potential interest rate cuts by the Federal Reserve (Fed), traders are eyeing long positions in Bitcoin (BTC) with a bullish outlook. Adding to the narrative, recent market dynamics reveal a pattern of range-bound trading in the BTCUSD market, with the $72,000 level serving as a key resistance level. As we anticipate a repetition of this pattern, informed traders are positioning themselves strategically to capitalize on potential price movements. Here's how traders are navigating these market conditions: Capitalizing on Central Bank Policies: The ECB's decision to lower interest rates underscores the prevailing sentiment of accommodative monetary policies aimed at stimulating economic growth. In response, traders are flocking to Bitcoin as a hedge against potential currency devaluation and inflationary pressures, driving demand and upward price momentum. Interpreting CPI Data and Market Expectations: Today's release of CPI data, slightly below expectations but still indicative of moderate inflationary pressures, has provided clarity on economic conditions. With the Fed expected to follow the ECB's lead and implement rate cuts, traders are anticipating a favorable environment for Bitcoin investments, as lower interest rates reduce the opportunity cost of holding cryptocurrencies. Technical Analysis and Strategic Positioning: Building on recent market trends, traders are employing technical analysis to identify key support and resistance levels. With the $72,000 level emerging as a significant resistance barrier, traders are setting profit-taking targets (TP) at this level, anticipating a potential retracement or consolidation. For risk management purposes, a stop-loss (SL) level at $67,000 is being widely utilized to mitigate downside risk. Market Sentiment and Long-Term Outlook: Despite short-term volatility, sentiment remains overwhelmingly bullish among long-term investors, driven by Bitcoin's growing adoption as a store of value and inflation hedge. Institutional interest, coupled with increasing retail participation, further validates Bitcoin's status as a viable investment asset, with the potential for substantial long-term gains. In conclusion, the convergence of central bank policies, economic data releases, and technical market analysis paints a compelling picture for traders seeking opportunities in the BTCUSD market. By leveraging strategic insights and risk management techniques, traders can position themselves to capitalize on potential price movements while navigating market volatility effectively. As always, traders are encouraged to conduct thorough research, stay informed of market developments, and adhere to disciplined trading strategies to achieve their financial objectives in the dynamic world of cryptocurrency trading.Longby exlux990
BTC local levels to watch out for You can see here the FVG below that was taken during the Asian Range, and there's an order block above. These are key levels to watch out for when we get the NY-AM open for the CPI release today. I suspect we'll see a trade setup form around that time. Right now, I'm just eyeballing these levels, with the REH (relatively equal highs) just above the Asian range. This could act as a reversal point if we get a displacement from this level or the order block above. It's a bit too early to tell what will happen, so let's wait for the setups to develop. #BTC #Crypto #Trading #CryptoTrading #SmartMoneyConcepts #TradingView by salamanka0
Short BTCUSD Now ! Bitcoin has already reached a resistance that is suitable for whales to sell. I am waiting for it to drop from 67000 to 63000 and because I think it will drop to 50000, so I have no idea about the right price for Long position. Shortby mrata70
correction It is expected that the upward trend will change in the resistance range and the resistance trend line and continue the downward trend. If the price crosses the 127% level, the downward trend will be canceledShortby STPFOREX0
$BTC Daily UpdateCRYPTOCAP:BTC #BTC broke below $68,546 support down to $66,323 support which tested and held on last dip, $67,716 being tested as of now, RSI on 4H and 1D getting better, $68,546 support to be regained to reattempt at $71,379-$72,162 resistance area. Watch given s/rby limitlessnash0
BTC DiscountsThis shows areas of Interest for discounts on BTC If trend breaks to the downsideby johnnyblaze10
Bitcoin ETF are strong, but the price Bitcoin remained below $70,000 despite news of substantial holdings by the BlackRock ETF. While ETF inflows continued last week, they failed to drive the price up. The presence of willing sellers, miners, and a lack of short liquidations have kept BTC within a narrow trading range. The Bitcoin ETF narrative has once again taken center stage, overshadowing altcoins and other protocols. In 2024, there were high hopes for new all-time highs driven by demand for physical coins. The introduction of various Bitcoin-based spot products sparked optimism for increased direct demand. However, despite indications of buying and holding, the BTC market price remains stagnant.Longby IPatrice1
BTCUSDThis Weekly FORECAST Opportunity for BTCUSD. This setup trading idea is for swing. >> TAYOR Risk Factors: 1. Market conditions, unexpected news, or external events could impact the trade. 2. Always use risk management strategies to protect your capital.Shortby TREND-TITAN0
Short BitcoinBitcoin failed to break above the resistance area at 70-72k area and is currently in a descending channel with a possible target to the lower channel and the major support demand zone at area 50-52K.Shortby WaelHaz1
BTC/USD Under Pressure After Failing to Test April HighBTC/USD trades to a fresh monthly low ($66561) following the failed attempt to test the April high ($72727). BTC/USD Outlook BTC/USD fails to defend the opening range for June as it extends the decline from last week, with a break/close below the $62780 (100% Fibonacci extension) to $64850 (23.6% Fibonacci extension) region raising the scope for a move towards $57590 (78.6% Fibonacci extension). Next area of interest comes in around the May low ($56,525), but BTC/USD may face range bound conditions amid the flattening slope in the 50-Day SMA ($65954), with a move above $70000 (38.2% Fibonacci extension) bringing the April high ($72727) back on the radar. --- Written by David Song, Strategist at FOREX.com by FOREXcom0
Short Bitcoin on Wave X Pullback Bitcoin appears to be forming a combination with one zigzag already complete. There exists a good shorting opportunity with the wave X pullback. Shortby epistemophiliac1
Cup and handle BTC USDwe can see a pattern that confirms a positive healthy grow trend which is known as cup and handle. Longby Wallstwizard100
BitcoinSeems we completed this correction phase with the Weekly oversold at the bottom. Looking for the cloud recovery to hold as we impulse higher. Prevailingnine 5/25/23Longby RaindropasUpdated 220
BTC to retest support at 67kAfter the completion of the 5th EW and then the immediate dump off of 72k resistance, I expect the pattern to continue and complete the final c off of 67k support. If it breaks this support I expect it to fall back down to the next support of 65k with a strong bounceby bwb100Updated 0
probably nothing...Short time ! Je pense que nous sommes en train d'aller vers les 54000$ avant de repartir à la longue hausse !Shortby min8t0
BTCBTC and potencial Bearish Retracement into D Discount / W FVG from there price can react and make All Time Highby andy4444_0
BTC 4 hr shortPotential head and shoulders forming. 618 retracement as a target and measured move.Short08:47by CryptoShabs0
BTC near term downsideI expect CRYPTOCAP:BTC to touch $68,300 before resuming uptrend and retesting $73K.by monsterelfUpdated 0
BTC forecast for JulyMost likely, a weak downward movement will continue to the border of the formed flag/wedge. And it makes sense to buy at its lower limit. If before this time its upper limit of 72-74 is broken, of course you can also buy BTCLongby strongJaguar350780
Jun.4-Jun.10(BTC)Weekly market recapEmployment data was released last Friday. Although the unemployment rate rose to 4%, the number of NFP exceeded expectations, reaching 272,000. The data performed average, but due to market expectations were too high, there was a correction after the data was released. Not only in crypto, gold has also seen a obvious correction. The market currently predicts that the number of interest rate cuts in 2024 will be reduced to two times, in September and December. The CPI and FOMC for May will be announced on Wednesday and Thursday this week. We believe this will determine the medium-term trend. Regardless, we are heading towards a rate cut. BTC is as we predicted last time, after rising and falling. It is slightly lower than last week’s price. Although the price has corrected, there has been no continuous decline for the time being. Trading volume is low. From the WTA indicator, after the last analysis released, a small number of blue columns representing whales appeared, but they quickly disappeared. The ME indicator continues to maintain a bullish trend. To sum up, we believe that the volatility of BTC will increase this week and continue to fluctuate, with the probability of rising higher than falling. We maintain our original resistance level 74000 and support level 61000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.by Sypool0
Bitcoin not due yet to go into full degen bull market modeIf history repeats itself - and so far history has repeated itself for Bitcoin every 4 years, we have not seen the true face of the Bitcoin bull market yet. Let's have a closer look at where and when things could really go ballistic to the upside by analysing its so-called logarithmic regression: You will see 3 different areas of importance on this chart: 1. A purple line showing the current "fair" price of Bitcoin according to the regression 2. A green channel marking the price area where Bitcoin should spend most of its time 3. A red channel marking the projected blow off tops for each bull run The pattern we usually see is that after a top somewhere within the red channel Bitcoin eventually falls back to the green channel (and sometimes below it) to then settle roughly around the purple line at the time of the halvings. What do these findings tell us about the current state of the bull market? Let's look at the price behaviour after the halving of 2016 and 2020.... It took Bitcoin around 300 days after the 2016 halving and 220 days after the 2020 halving to finally breach the green channel to the upside and go into, what I call, full degen frenzy bull market mode. This is the area between the green and red channel, where prices go ballistic and influencers on social media will talk about the how everything will be different this time and how everything is only going up from now on. As you can see Bitcoin currently is still quite far away from leaving the green channel to the upside. In fact if it would go into full frenzy bull market mode right now we would need to see prices well above 90,000 USD. If history repeats itself again and we can expect the price to leave the green channel to the north sometime 220 to 300 days after the halving. That would be sometime between November 2024 and February 2025 - the top of the green channel will then be around 100,000 USD. Price will then probably rise rather quickly to the red channel again where it will eventually top out and, once again, enter a bear market. Top prices should be somewhere between 200,000 USD and 300,000 USD in 2025. It is then time to get out of the market and go into hibernation once again to come back once the lower green band of the logarithmic regression is reached. The good news is....with prices currently around 67,500 USD there is still plenty of money to earn even until reaching the phase where the price of Bitcoin will really go ballistic. The bad news is... most people will be left behind and will probably fomo into Bitcoin (or the worse alternative: Altcoins) at prices between 150,000 USD and 200,000 USD. This, of course, is just my own opinion and no financial advise!Longby CryptoForMoney0
Volume is back ... BTC heading toward 67k supoort Volume on BTC has finally returned. Heading into FOMC on Wed, will we see a bounce off of 67k, or will we test lower ... RSI on the 4hr is tapping 30. On the daily its pushing below 50. Heat maps suggest a liquidation cascade below 67k. Bulls will need to wake up soon and put up a serious fight in order to retest the 72k level. As the saying goes, this will be the most important CPI and FOMC of our lives, until the next oneby bwb1000