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Bitcoin price loses correlation with the stock market On 17 MayOn 17 May, Bloomberg that the price of Bitcoin is at a high level of correlation with the shares of technology companies. At the time, it was suggested that the main cryptocurrency was perceived as a growth asset, fuelled by: → the launch of Bitcoin ETFs; → expectation of Fed rate cuts. But here was yesterday's Fed meeting, where the intention to cut the rate 1 or 2 (if inflation slows down more actively) times before the end of the year was announced. And with that, the Nasdaq 100 index of tech stocks rose to an all-time record of over 19,500 points. Bitcoin's price, on the other hand, is acting less confidently. As the BTC/USD chart shows: → amid yesterday's news of declining inflation, the Bitcoin exchange rate jumped about 3% in 2 hours; → and today the price has returned to the levels before the news was released. What's more - it's gone lower. This is a bearish sign. According to a technical analysis of the Bitcoin to US dollar chart: → the price has been oscillating for a long time along the median of the expanding fan, which originates back in November 2023; → each time the price deviated from the rising median, it returned to it (as indicated by the arrows) - thus showing that the consensus of market participants regarding the bullish outlook was stable. Now the situation is changing: → having deviated down from the median, the price is having trouble getting back up (as shown by today's decline under the start of yesterday's upswing); → the psychological level of $70k is providing resistance; → the descending channel (shown in yellow) is becoming more apparent. This could mean that the consensus is crumbling and there is a shortage of buyers in the market willing to pay more than $70k for the coin. The inability of the Bitcoin price to perform as strongly as the Nasdaq 100 index going forward will support this thesis. I expect a decline to the 1st support line below the median.
BINANCE:BTCUSDShort
by fintechzoom
1
Bitcoin touching 70000 and 80000 in coming monthsThe BTC/USD pair has been consolidating within a symmetrical triangle pattern for the past few weeks. Recent price action suggests a potential bullish breakout. Here are the key points: Symmetrical Triangle Formation: The price has been forming higher lows and lower highs, creating a symmetrical triangle. This pattern typically indicates an impending breakout, either to the upside or downside. Bullish Signals: The 50-day moving average (MA) has crossed above the 200-day MA, signaling a bullish trend reversal. Volume has been gradually increasing during the consolidation phase, suggesting accumulation. Potential Trade Setup: Entry Point: Buy on a daily close above the upper trendline of the symmetrical triangle (around $65,000). Stop Loss: Set a stop loss below the lower trendline (around $60,000). Take Profit: Target the previous swing high near $70,000. Risk Management: Ensure proper risk management by adjusting position size based on your risk tolerance. Monitor price action closely and be prepared to exit if the breakout fails. Remember to conduct your own analysis and consider other technical indicators before executing any trades. Happy trading! 🚀📈
BINANCE:BTCUSD
by EshanParekh
Bitcoin: Navigating the Waters of Accumulation "Unlocking the Potential: Dive into my comprehensive analysis of the BTC/USD market, anticipating a strategic entry point within the $17k-$15k range in the next 1-2 months, coinciding with the weekly accumulation zone. As we approach the halving, my analysis indicates a bullish surge beyond all-time highs, setting the stage for Bitcoin to reach an impressive $300k-$400k per coin. This meticulously crafted roadmap provides insights into potential profit opportunities, making it a must-read for investors seeking to capitalize on what could be the decade's most lucrative moment in the crypto space. Join the conversation and stay ahead of the curve by exploring the data-backed projections and strategic moves outlined in this analysis. Your financial future may just thank you for it."
BITSTAMP:BTCUSDLong
by yagyasheeshjoshi720
3
BITCOIN 2024 FUTURE PLANUnlocking the Potential: Dive into my comprehensive analysis of the BTC/USD market, anticipating a strategic entry point within the FWB:25K -$28k range in the next 12 months, coinciding with the weekly accumulation zone. As we approach the halving, my analysis indicates a bullish surge beyond all-time highs, setting the stage for Bitcoin to reach an impressive $70k-$75k per coin. This meticulously crafted roadmap provides insights into potential profit opportunities, making it a must-read for investors seeking to capitalize on what could be the decade's most lucrative moment in the crypto space. Join the conversation and stay ahead of the curve by exploring the data-backed projections and strategic moves outlined in this analysis. Your financial future may just thank you for it."
BITSTAMP:BTCUSDLong
by SMFINANCIALS
2
Market Reactions to Fed’s “Hawkish Pause” Market Reactions to Fed’s “Hawkish Pause” Today the Federal Reserve chose not to proceed with an 11th consecutive interest rate hike, opting instead to assess the effects of the previous 10 hikes. However, the Fed announced that it anticipates implementing two additional quarter percentage point increases before the year concludes. While the pause was largely expected, the fact that policy makers see rates at 5.6% at year-end was what caught the market off-guard. The combination of the pause with the suggestion of two more 25 basis points hikes has been dubbed the “hawkish pause”. Following the decision, stock market closing results were mixed. The Dow Jones closed more than 230 points lower, while the S&P 500 and the Nasdaq experienced gains of 0.1% and 0.4% respectively. The Nasdaq Composite was primarily bolstered by the gains made in AI-adjacent stocks of Nvidia and AMD. The day began with Bitcoin surpassing $26,000. However, it has since retraced to a 24-hour low of $25,791. Some analysts are predicting an inevitable drop to $25,000 based on recent cryptocurrency news that is dominated by discussions on regulation. Meanwhile, gold prices initially rose to touch $1959 per ounce in the session but later trimmed gains, trading around $1945. The dollar has weakened across the board, with the DXY down 0.32%. The NZD is the biggest mover, rising by more than one percent to a 3-week high of $0.6211. Gains in EUR and GBP were more modest, at +0.39% each.
BLACKBULL:XAUUSD
by BlackBull_Markets
💡Don't miss the great buy opportunity in BTCUSD @BitcoinTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (20913). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . BTCUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. Take Profits: TP1= @ 21469 TP2= @ 21813 TP3= @ 22667 TP4= @ 23577 TP5= @ 24436 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
2
NIFTY Pre Market Analysis 17/10/2022 E3Good Morning everyone, Keeping SGX Nifty in mind (17070 levels) Lets say Nifty will have a gap down of approx. 100 points -->Nifty will try to open @ 17060-70 levels -->We will be almost opening near support zone. --> Unless it breakdown 17000 level on stays there for min 15 mins there shouldn't be any shorting . -->After opening, --> If market shows bullishness like 5 Min range breakout/15 min narrow range breakout then we can go long with Stop losses below the range. -->Targets would be as mentioned on chart. -->After opening, --> If market goes to test 17000 level (good demand zone) ,Here wait with patience if market shows bullishness(forming bullish candles or breaking previous highs on 5m TF) then we can go long with SL placed below 16950 and the Targets would be same as mentioned on the chart. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES. If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly. Expecting as low as 10 follows for this work 🙏🙏🙏.
NSE:NIFTY
by Mo-Kri
Nifty Expiry Day Pre Market Episode 1Good Morning Everyone, If we observe the chart in 30 min time frame we can see a head&shoulder pattern followed by a beautiful breakdown and an excellent retest to😁. Retest is in the form of one of the triangular patterns. -->Look at the big red breakdown candles. So most people would have shorted CE's or bought PE's. -->If the price breakout of the pattern to the upside it will just go into a major supply zone . If any rejection from there it will move the market down. -->So don't be over excited about break out please look for levels where bulls/bears might get trapped and play accordingly otherwise we will get trapped. -->17035 levels is last swing low in smaller time frame ,breaking this level will make bulls to exit their longs. -->From my Side just want to give you two levels 17210-15 & 17035-40 When the price is near these two lines plan your trade. -->If the price is above the line BUY if the price is below the line SELL -->Don't curse me for giving all the directions its just that we should respect every possibility before market opening at least. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES. If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
NSE:NIFTY
by Mo-Kri
4
💡Don't miss the great buy opportunity in BTCUSD @BitcoinMidterm forecast: While the price is above the support 17600.00, beginning of uptrend is expected. We make sure when the resistance at 26700.00 breaks. If the support at 17600.00 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 18510.75 on 09/07/2022, so more gains to resistance(s) 21919.49, 23500.00, 25211.30 and maximum to Major Resistance (26700.00) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 54. Take Profits: 21919.49 23500.00 25211.30 26700.00 31765.00 37327.72 42500.00 48189.85 55590.00 64755.00 69000.00 75000.00 80000.00 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
2
💡Don't miss the great buy opportunity in BTCUSD @BitcoinTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (29906.37). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . BTCUSD is in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 74. Take Profits: TP1= @ 31457.46 TP2= @ 32673.24 TP3= @ 34344.46 TP4= @ 36193.81 TP5= @ 37583.56 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
4
💡Don't miss the great buy opportunity in BTCUSD @BitcoinTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (46542.43). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . BTCUSDT is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 79. Take Profits: TP1= @ 47596.07 TP2= @ 48654.08 TP3= @ 49497.94 TP4= @ 50140.78 TP5= @ 51311.16 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
1
💡Don't miss the great buy opportunity in BTCUSD @BitcoinTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (38504.76). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . BTCUSD is in a range bound, and the beginning of an uptrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 47. Take Profits: TP1= @ 39690.61 TP2= @ 40397.44 TP3= @ 41849.63 TP4= @ 43046.71 TP5= @ 44943.38 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
4