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WILL BUY THE DIP SUPPORT BULLS & CAN BTC RECOVER TO 71K ?Earlier I discussed about double top pattern in making & captured the great free fall of more than 7,000 points. Now, Bitcoin can be seen taking support at important levels. Bitcoin is experiencing times of high fear, high volatility and negative sentiment among the traders. From a psychological point of view, this could end in a bullish momentum as I have seen in the past that such high volatility usually lead to trend reversal. For now, big buyers are actively holding back a possible fall amid transfers of the previously hacked crypto exchange to its debtors and BTC sell-offs by German authorities. In April, the average cost of BTC mining among the largest public miners was $53,000, technically, the level of average cost of BTC mining plays the role of an intermediate bottom. Judging by the growth of volumes and price entry into the area of the lower boundary of the "Flag or Megaphone" pattern, buyers appear on the market and at the moment stop the price fall, forming a sideways range of 53500-58500. Accordingly, a breakdown of one of the boundaries may trigger an impulse to one side or the other, based on the technical nuances there is a probability that there will be an attempt to break the resistance. Fundamentally, the environment is difficult due to news flow, but investors are waiting for the approval of ETH-ETF, which may bring back the bullish mood to the market (indirect impact on BTC). Technically, the emphasis is on the range. A break of 58500 will give bullish momentum, a break of 53500 may allow the price to decline to the 50500-51000 risk zone We can only analyze and make a trading decision but only the time will tell whether is it headed to 71K or below 50K.
OANDA:BTCUSDLong
by akshit_official
3
Retailers Exit, Big Money Enters: Time for a Bullish SurgeThe chart is looking bullish for several reasons. Firstly, the RSI (Relative Strength Index) is rising quickly, indicating increasing momentum. Secondly, there's a noticeable uptick in volume, which supports the price movement. The main reason for my bullish outlook is a simple price action pattern I've observed repeatedly. When the price hits a support level 3-4 times, it often indicates a very strong support. Retail investors typically place their stop-loss orders just below this support line. This pattern is evident in this crypto as well, as marked by the green circle on the chart. The price recently dipped below the support but is now rebounding, which is a bullish signal. With retail investors shaken out of their positions, they are likely to re-enter once the price moves above the previous support level. Initially, the price may rise slowly towards the support zone, but once it breaks above, significant buying pressure is expected. The large investors who entered at lower prices will drive the price up to the support level, then take profits as retail buying pushes the price higher.
BINANCE:SNXUSDLong
by princekumar909728
1
IS BITCOIN GOING TO CRASH ? BITCOIN LONGTERM VIEWIS BITCOIN GOING TO CRASH ? BITCOIN LONGTERM VIEW when we look in day chat bitcoin showing these thing. 1. first of all its break a trend line shown on chat 2. its not filled the 52.000 lable and created a gap thats mean it fall again and fill the gap 3. its also breaked the all support lines there is no resistance so it will fall a lot with out any doubt 4. here buyers are ready to buy but showing a huge downward pressure it gonna trap her and fall a lot 5. volumes are also showing far more fall overall mening is .. i want to ask you 2 question 1 ask youself Q1. is bitcoin time over Q2. what is your opinion in this longterm setup just comment below im waiting for your comment. and last JAY JAGANNATH . when we look in day chat bitcoin showing these thing. 1. first of all its break a trend line shown on chat 2. its not filled the 52.000 lable and created a gap thats mean it fall again and fill the gap 3. its also breaked the all support lines there is no resistance so it will fall a lot with out any doubt 4. here buyers are ready to buy but showing a huge downward pressure it gonna trap her and fall a lot 5. volumes are also showing far more fall overall mening is .. i want to ask you 2 question 1 ask youself Q1. is bitcoin time over Q2. what is your opinion in this longterm setup just comment below im waiting for your comment. and last JAY JAGANNATH
CRYPTO:BTCUSDShort
by tradergyan01
Why BTC is going down ? Follow up Today, BTCUSDT has reached one critical point. In the past analysis linked here, we were waiting for two left-behind point, one between 56k and 53k and another below 51k, around 45k. The price recovered the inefficiency, kept the lateral movement on the 60k resistance, consolidated by returning to the 63k level. I was looking for a probable BARR but, as said in the past analysis, the pair had few liquidity and interest point to reach before increase and start the post-halving bull run. The decreasing trend line fake out on the begin of the month can be mistaken for a break out, but the price did not draw a strong BOS and satisfying the fibonacci TP and level on the monthly inefficiency level (purple line). This new bearish movement of the last few days included all crypto pairs. Ethereum, Ripple, Solana, Dogecoin... everyone's price decreased. From a technical point of view, the price have reached our POI, point of interest zones. For Bitcoin we were waiting a recover around 56-53k, which were a inefficiency zone left behind from February 2024. It's impressive the reactivity of the price around our levels, snipers ! There are still areas to cover. On higher tf, the price is creating a M-pattern, indicator for an imminent bearish run. It would be in line with our analysis. The price would cover those missing areas, consolidating and the start a bull run. I am confident on a return around 42k before the long run. I have just a note, a little thing that does not make sense so far : the price in below the Halving-level and this happened just another time before. Anyways, from an historical and fundamental point of view, the price has always increased after the halving (that's the aim). Are there any fundamentals points which have to be essentially consider for a fair analysis ? Are institutions and big whales a turning player for this halving as never before ? Let's see..
Long
by itsmcasalinii
Why BTC is going down ? Follow up Today, BTCUSDT has reached one critical point. In the past analysis linked here, we were waiting for two left-behind point, one between 56k and 53k and another below 51k, around 45k. The price recovered the inefficiency, kept the lateral movement on the 60k resistance, consolidated by returning to the 63k level. I was looking for a probable BARR but, as said in the past analysis, the pair had few liquidity and interest point to reach before increase and start the post-halving bull run. The decreasing trend line fake out on the begin of the month can be mistaken for a break out, but the price did not draw a strong BOS and satisfying the fibonacci TP and level on the monthly inefficiency level (purple line). This new bearish movement of the last few days included all crypto pairs. Ethereum, Ripple, Solana, Dogecoin... everyone's price decreased. From a technical point of view, the price have reached our POI, point of interest zones. For Bitcoin we were waiting a recover around 56-53k, which were a inefficiency zone left behind from February 2024. It's impressive the reactivity of the price around our levels, snipers ! There are still areas to cover. On higher tf, the price is creating a M-pattern, indicator for an imminent bearish run. It would be in line with our analysis. The price would cover those missing areas, consolidating and the start a bull run. I am confident on a return around 42k before the long run. I have just a note, a little thing that does not make sense so far : the price in below the Halving-level and this happened just another time before. Anyways, from an historical and fundamental point of view, the price has always increased after the halving (that's the aim). Are there any fundamentals points which have to be essentially consider for a fair analysis ? Are institutions and big whales a turning player for this halving as never before ? Let's see..
Long
by itsmcasalinii
#AVAX Ready to Skyrocket: Massive Gains Ahead!Hi everyone! Today, I'd like to highlight another top altcoin: AVAX. It has found strong support at the anchored VWAP and is currently retesting a previous high area. Recently, $AVALANCHE surged to retest the previous support level from 2021, around the $65 zone, which acted as resistance. Now, it's finding support from previous highs. The VWAP is a highly regarded indicator, often used by institutional investors. Given this, it might be an excellent time to buy AVAX, as it appears ready to soar from its current range of $20 to $22. If it retests its all-time high of $148, we could potentially see returns of up to 500% from this point.
Long
by crypto_vulture_signals
2
Bitcoin Technical Analysis - Bitcoin is trying to take some support from the zone of 67,000$ - Bitcoin on a Daily TF looks different its trying to consolidate and find a support that can stop its further drawdown - The market from a technical perspective isn't portraying much bearish/bullish bias - One catalyst can bring down/up prices more - If you are looking for entries then I would highly recommend to wait for the weekends when you see prices filling back imbalances - 63,000-65,000$ WILL BE A VERY GOOD ZONE TO ACCUMULATE ALT/ETH/BTC
BITSTAMP:BTCUSDLong
by VKtradesimbalance
3