Consolidation Phase Before Breakout – Key Levels to Watch Bitcoin Technical Analysis: Consolidation Phase Before Breakout – Key Levels to Watch 📈💰
Market Overview: Bitcoin (BTC/USD) is currently navigating through a consolidation phase, forming a symmetrical triangle pattern on the 4-hour chart. The price action has been fluctuating between significant resistance at 86,594 and support at 78,725. As we approach the apex of the triangle, volatility is expected to rise, and a breakout from this range could set the direction for the next major move in Bitcoin's price.
Key Technical Levels:
Resistance: 86,594, 88,753
Support: 78,725, 75,102
Technical Indicators:
Bitcoin is holding above both the 50-day and 200-day moving averages (MA), confirming the overall bullish structure in the market. The price’s proximity to key resistance levels suggests that BTC is preparing for either a breakout or a pullback.
Currently, BTC is testing the upper trendline of the triangle, which means the market is gearing up for a potential decisive move. A break above the 86,594 level could send the price toward 88,753, and potentially higher, with 91,000 as a psychological target.
Chart Analysis:
Symmetrical Triangle Pattern: Bitcoin’s price movement has been restricted within the triangle’s boundaries. If the price breaks the 86,594 resistance, we could see BTC push to 88,753, and possibly even 91,000. However, if the breakout fails, BTC might retrace to the support levels at 78,725 or 75,102, which could provide better entry points for long positions.
The formation of the triangle indicates that the market is waiting for a clear direction. A breakout will likely be followed by a sharp movement either upwards or downwards, so traders should be prepared for a spike in volatility.
Macro Factors and Market Sentiment:
Geopolitical Tensions and Economic Uncertainty: The ongoing geopolitical tensions between major global economies, particularly the U.S. and China, have increased demand for safe-haven assets like Bitcoin. In addition, global inflation concerns continue to push investors toward digital gold as a store of value.
U.S. Federal Reserve Policies: The Fed’s actions regarding interest rates and monetary policy will have a direct impact on Bitcoin’s price. Any dovish stance or indications of more easing could benefit Bitcoin, as it is seen as a hedge against inflation and currency devaluation.
Market Outlook:
Bullish Scenario: A breakout above 86,594 could lead Bitcoin towards 88,753 and potentially 91,000. With Bitcoin’s bullish setup and safe-haven status, the next move might be strongly in favor of the bulls.
Bearish Scenario: If Bitcoin fails to break through resistance, we might see a retracement towards the support zones at 78,725 or 75,102, where buying opportunities may arise.
Trading Strategy:
BUY Zone: 78,725 - 75,102 (Look for a confirmation above support levels)
SELL Zone: 86,594 - 88,753 (Watch for a breakout above resistance for further upside)
Conclusion:
Bitcoin’s current consolidation phase has set the stage for a potential breakout. The price is testing crucial resistance levels, and the next few days could determine whether BTC will make a new push towards ATHs or pull back to retest lower levels. With the broader economic and geopolitical conditions favoring Bitcoin as a hedge, the long-term outlook remains bullish, but short-term volatility is expected.
Coin
BTC Bitcoin Sell-Off and COIN Coinbase potential HackIf you haven`t bought BTC before the rally:
Then you need to know that today Coinbase's trading engine experienced a disruption during ETF trading hours, causing a significant impact on individuals actively trading Bitcoin on the platform and leading to a substantial drop in its price.
The aftermath of the incident saw the price recovery after ETFs purchased actual Bitcoin for the next trading day (T+1). However, questions arose regarding the cause of the price decline. While Coinbase's outage played a role, suspicions arose about other exchanges possibly exerting considerable selling pressure. The speculation was whether Coinbase was the main stabilizing force and if there were other irregularities in play.
Concerns escalated, leading to speculation about a potential Hack on Coinbase.
Users reported missing assets, and both phone and chat support were inaccessible during a critical market moment.
The situation highlighted the vulnerability of relying on centralized exchanges, emphasizing the importance of having control over one's private keys to ensure ownership and security of crypto assets.
The overall consequence was a market downturn, signaling a potential local top.
My Price Target for Bitcoin is $51K.
COIN (Coinbase) Ready To Fly Amid Crypto Bull Run and BoomThis is US Listed Company
Due to Increasing in Demand and Upcoming
Big Bull Run in Crypto market their revenue must increasing and for future it can give
good amount of return to its holders
Coinbase chart Looking Good and it done breakout
first recommand at 96
CMp is 107
still Long Way to Go
Hold for big target
129
154
187
225
#NYFA #DYOR
WRX Coin Price Prediction and Technical AnalysisI'll go through WRX Coin Price Prediction. I Perform a technical analysis on wrx across several time frames with best intraday indicators using exponential moving average (EMA) and Relative strength index (RSI) Indicator.
WRX will breakout soon head and shoulder pattern.
COCOS ON HOURLY CHARTCocos has been trading below 200 MA and it also broke the 50% Fibonacci level. The next level to watch is 61.8%.
If cocos doesn’t sustain near given 61.8% zone we can see bears getting in control.
Trade safe
Buy siacoin at current price.Curently sia coin is very undervalued coin.
You can take position into this.
Buy siacoin between 98-103 satoshi.
First Target :- 114
Second Target :- 150
Stoploss :- 88
Long term holders can buy between 98-103
No stoploss will be given for this.
Just hold for 3-4 months.
Currently 20% of my portfolio is holding sia coins.
I am expecting 5-10x profit from this coin.
Invest at your own risk as it seems good profit from here but market manipulation can do opposite things as well so if you enter then do by using stop loss as well nd invest only what you can afford to hold/loose for long in crypto.
LTC/USD Critical Point SpottedHey folks!
No time to explain...straight to the chart:
LTCUSD is about to break its local resistance level (see previous structures that confirm this argument). Moreover, according to the Ichimoku (20/60/120/30 - perfect settings for crypto currently) the price is about to complete the breach and hence there is a strong indication for the price to go even higher. MACD - overcross spotted! RSI is steadily climbing higher. In general, if you look at Fibonacci retracement 38.2% - this is the next critical level which if breached opens the road to 61.8%. If you take a sharp look at the Fibonacci Extention line 38.2% you can notice that this line almost perfectly aligns with 38.2% of Fib.Retracement which combined is a strong price level for LTC.
The market is currently in favour of crypto and it looks like we are in a "recovery" stage. Though, not entirely.
Anyways, plz always do your own due diligence. I am waiting for the resistance level breach.
XRPBTC Price Analysis For Intraday TradingXRPBTC Price Analysis For Intraday Trading
2 Reasons to Price Up
1. DM+ & ADX Line goes towards up.
2. MACD Histogram size increases.
I think this is weak bullish trend.. the market should goes may be at 3945 Satoshi.
I Hope this is helpful to You.
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