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Bitcoinlongterm

Is the BTC Bull Market Still Intact?Key takeaway: Judging by the current events and data, the BTC bull market remains intact. The recent volatility is primarily due to a supply shock and does not reflect a fundamental change in market sentiment. The strong buy volumes, lack of panic selling, and coordinated efforts to stabilize the price all point to continued confidence in Bitcoin's long-term value. Mt. Gox's BTC Release and Exchange Activities In May 2024 , Mt. Gox made headlines by moving 147K BTC worth approximately $9.7 billion to a new wallet. This transfer was part of the preparation to repay creditors who have been waiting since the exchange collapsed in 2014. The repayment process was set to begin in early July 2024, causing significant concern over potential selling pressure​. The market reacted to the Mt. Gox announcement with noticeable inflows ibb.co The chart provided shows a significant spike in exchange inflows on May 28, 2024, suggesting that holders might have been preparing to sell their assets in anticipation of price volatility​. Coinciding with these events, major Bitcoin ETFs, including BlackRock’s Bitcoin ETF, recorded substantial outflows. On May 2024, BlackRock’s ETF experienced a record outflow of $563.7 million. Other ETFs, like Fidelity’s Wise Origin Bitcoin Fund, also saw significant outflows during this period, reflecting investor anxiety and a potential move to liquidate positions ahead of the expected market shock​. Binance’s Market Activity A closer examination of Binance's activities suggests a strategic accumulation of Bitcoin: Binance can use derivatives to artificially suppress the price of Bitcoin. By keeping the price low, Binance could accumulate Bitcoin at more favorable rates. Data shows that Binance's Bitcoin holdings have been increasing during this period, indicating that it was a net buyer while other exchanges were experiencing outflows. This suggests that Binance was strategically buying Bitcoin being sold on the market, including those from the Mt. Gox distribution. Binance is not only one of the largest holders of Bitcoin but also dominates the market in trading volume. A closer look at order books reveals patterns of coordinated behavior with OKX, indicating potential collaboration to influence Bitcoin's real price. Other Major Exchanges Coinbase, Kraken, and Bitflyer: These exchanges saw significant Bitcoin outflows, indicating that much of the Bitcoin released into the market was sold via these platforms without any significant increase in their net holdings. Bybit: Following Binance, Bybit was also a significant buyer, with its Bitcoin holdings increasing over the same period. This aligns with the observed pattern of accumulation among certain exchanges while others saw declines in their reserves The market's reaction to the Mt. Gox news is mixed. There was an initial dip in Bitcoin's price due to the anticipated increase in supply, but some analysts remain bullish. Predictions of Bitcoin reaching $150,000 post-distribution suggest that long-term sentiment might still be positive​ www.kitco.com Binance appears to have played a critical role in absorbing much of the Bitcoin sold on the market, potentially using derivatives to keep prices favorable for accumulation. Other exchanges like Coinbase, Kraken, and Bitflyer were primary venues for selling, while Bybit also increased its holdings. A closer look at order book shows the trading activity (Binance & OKX ps: other exchanges had insignificant order volume) displays a pattern of frequent and significant trades aimed at keeping the Bitcoin price within a very narrow range, specifically between $55,500 and $56,800. So the recent Bitcoin price movements appear to be primarily driven by a supply shock rather than reflecting normal market behavior where spot and derivative trading follow usual buy and sell dynamics. Before the sell-offs, there were booked sell orders in the $66,000 to $72,000 spot sell range, and even today, the amount of these orders has not decreased. This indicates there wasn't strong panic selling Most of the sell pressure was due to derivatives, with short sellers, shorting Bitcoin in anticipation of the supply shock. This does not reflect the real Bitcoin price. Despite the sell pressure, the buy volume has been substantial, with buy orders clustering at $55,000, $51,000, and $48,000 days before the sell pressure increased. Judging by the current events, this price movement is primarily due to a supply shock and does not reflect normal market behavior. The lack of significant spot sell orders and the substantial buy volumes at key price levels suggest a high probability of recovery. The market has shown resilience, with significant buy orders absorbing the sell pressures, particularly clustering at $55,000, $51,000, and $48,000. This behavior indicates strong market support and potential for price recovery after the supply shock stabilizes.
INDEX:BTCUSD
by Rzgar_
Bitcoin Road Map 2022-2024 Details Part 1I don't want to make this too long - So simply put - There is a precise repeating pattern related to the 2.414 & 2.618 FIBS when the retracement is pulled from the bottom of the last upward test in price move to the top of the price move before the fall to the bear market low that immediately follows. The bear market bottom has pivoted at it's lowest point exactly between the 2.414 & the 2.618. Hitting at least the 2.414 and sometimes coming close to the 2.618. In addition to this predictive anomaly, there is also the exact confluence with the extension FIBs pulled from each previous bull market ATH down to the bear market bottom - when this is done accurately, the 1.618 FIB falls dead between the 2.414 & 2.618. This anomaly has repeated since the inception of Bitcoin. The only deviation is in the current cycle - It is found in the fact that the FIBS have strangely inverted because the recent ATH only reached the 1.618 on a Logarithmic chart opposed to the bear market low target resting ON TOP of this same 1.618 FIB in the past 3 cycles..the current cycle is poised to LAND on top of the 0.618. Regardless, it is still confluent with a 618 mark. The current bear market cycle target when using this same predictive application puts the upcoming bear market bottom price around $10,000. I should note that depending on how you set your FIB levels (at the open of a candle or the close of another etc etc) this can change the price target by a small degree, but basically it will be in the same ballpark. Please ask if you have any questions at all - I am very happy to answer.
INDEX:BTCUSD
by WillTMoney
6
BITCOIN, Never again above 70,000 $ !!It all depends on how you look at things. I do not pretend to be alarmist, much less bearish, in the long term, I simply like to value all points of view, and this? is precisely a VALID point of view. NEVER forget it. During these years I have seen countless GRAPHICS and all of them are extremely bullish without any justification, even logarithmically. Well then. Today I would like to add to the market another option also possible. We can observe in the logarithmic graph a curvature in its growth. People think that we can not return to $3800 because there are logarithmic charts that do not contemplate that possibility. Well, here is an idea. Invest with knowledge. Do not forget that no matter what asset you work, the SECRET is in the management of capital. Good luck !
BITSTAMP:BTCUSDShort
by javieralcazarono
6
Bitcoin Price $160,000 by February 2022Bitcoin has had a relatively large uptrend in the last 32 weeks, just as it did in late 2017. However, the momentum seems to be slowing now, and the MACD and RSI are showing bearish divergence on the 1 week and 1 day log chart. Here I use a log chart to predict the price of Bitcoin turning down in the coming weeks based on these bearish indicators. Bearish Divergence on 1 week MACD, Bearish Divergence on 1 week RSI Max hype, max media attention seen in years. March is historically the worse performing month for Bitcoin, followed by September. The overall trend is still extremely bullish in the long term! But I expect a retracement to the middle of the log growth channel. Perhaps a bounce off of the 38.20% Fibonacci level near $36,000 as support in September 2021, then resume bullish trend until around $160,000 in February 2022. As new corporations adopt bitcoin as a store of value such as Square, Microstrategy, and Tesla, the price will most likely push higher. However, most companies probably also see that the price is at a relative high, and will most likely wait for a better price to buy. In order for bitcoin to continue it's latest trend upward, it would have to double in the next month or two. I just do not see where an additional $ trillion is coming from in such a short time. That being said, I also agree with PlanB's stock to flow model. The prediction in this chart is still in line with PlanB's model. Bitcoin will no doubt be near $100k-160k by late 2021/early 2022. But as we all know, Bitcoin is a very volatile asset, and drawing a straight line to those prices from this point doesn't make sense. Bitcoin is in a parabolic growth phase currently, and momentum is slowing. It wouldn't fit to draw the left half of the Eiffel tower without then drawing the right half.
BITSTAMP:BTCUSDLong
by bodeen88
My prediction for Bitcoin in 2021!!! The unique chart keyIn this tutorial, just I draw this chart for long term and I want to share you and review: 1. Bitcoin it's still into this re-accumulation zone, that it's very important to know~!!! 2. Bitcoin still bullish and right now, we are in the highly maximum price and then, we would need to check out this chart 3. And remember, I use this model for you to understand what cycle we are!!! All information it's here writing in this chart to identify each cycle meanwhile colors, arrow, and more.
BNC:BLX
by harisonhbn9718
Why do some traders believe in 30k - 60k by the end of 2021?Hello there, I'm finally back from my holidays and here is my view for BTCUSD . Enjoy! It's been a while and I've been missing this stuff, so I'll go straight to the point: I'm one of those who believe that Bitcoin is going to the moon very soon. Let me explain why... So basically this chart is made up of two patterns which state respectively a major and a minor uptrend. The bigger bull pennant is the dump and recicling time so that bulls take a rest or eventually sell some of their bags and make profit and is visible also on weekly and monthly timeframe, where uptrend is still intact both on relative strength index and moving average convergence divergence since 2016 (older data isn't available for this ticker); the smaller rising channel is a confirmation for the uptrend which started on April 16th on macd, on April 25th on rsi. The first one was suddenly and unforeseenly on July 27th causing a big pump towards 12k, then price action came back down and couldn't manage to re-break it until today; the other will be eventually broken out, the direction is upto traders by now. So now here we come, let's speak about some important levels. If you zoom out on higher timeframes you'll see, thanks to Fibonacci levels, that price action insisted between some particular values, which we can use to explain why there were so many buyers during last January: the movement is of a typical bearish Gartley pattern in which AC can vary between .382 - .618 - .883 levels. The only one point we miss now (textbook Gartley needs it to be .786, around 16.3k) is a key level, where also an important sell off area is located. This makes me think price will need a big retracement from those highs (maybe in the form of a wedge/pennant - as much down as 7k!), in order to take another rest before aiming for a new all-time-high. Here it comes what we're talking about: all those moves will take place faster than you expect and last lows before the rally restarts won't be seen later than April 2021. What then? A moonshot. Literally. And only greed can stop price from flying. Targets will be as high as 1.618 (30k) - 2.618 (47k) - 4.618 (81k) and their logarithmic big brothers (62k - 396k - 16M). Hope you liked this greedy comeback, see you on next prediction! Trade safe and be your own bank. Anlvis
COINBASE:BTCUSDLong
by Anlvis
2
BTCUSD - The halving is over an now it´s bullish! Really???The halving is done and we have seen a bit of volatility the last hours before. Now to the moon??? I wish for it but i don´t expect it. What is the initial situation: - We see lower highs along the falling purple line - At the Moment we see a lot of resistance in the area of 10.000 - 10.500 - Seven positive weeks in a row - The halving - A lot of hype on youtube and in other media What can we expect: I quote a song by QUEEN "Too much love will kill you" and change it. "Too much hype will kill you" . I wonder all the time why everyone is so euphoric. The fundamentals are one but i don't see any change in the chart. It doesn't change anything when billionaires enter the market or youtubers call out the moonshot. When everyone talks about it, it usually happens differently. Chart technology is always about probabilities. Basically anything is possible and we can see pumps in between. Based on the chart situation, i expect a continuous sideways phase with a tendency downward trend. In my opinion, this is healthy for the market. Interest and reporting will likely decrease and people start to doubt. That is what I want to see. In summary, i expect a longer sideways phase in a larger range. We will see little pumps and dumps. As long as we don´t see any new lows below 3.800 $ or any new highs above 10.500 $ or even 14.000$ we will form a longterm bottom and that is good for the long run. That can even take years. Please leave a like or a comment!
BITSTAMP:BTCUSD
by nopenny
BTCUSD Daily Chart Long Term Analysis - Beautiful Potential BULLOn a daily Chart I am beginning to see a little bit more sense of which direction I think price might want to go. I see price pulling back a little, then get to the top of that channel and bounce right back to $6,500 if it doesn't break the resistance of that channel. OR Price of Bitcoin might fall a little more (and maybe back to $6,500 and maybe dip towards $5,500) before going to the top of that channel, breaking it and then flying off... OR ...maybe if it dips towards the $5,500 support, it'll break it, make it a resistance, and dive to $2,200. But for now, to me, I think it will finish this pullback and then we go full BULL...but we'll see. What do you think?
BITSTAMP:BTCUSD
by IMNAIJAYOUTH1
1
Bitcoin BTCUSD still SHORT but possible trendchange LONG #Renkotrade Hello to all watching my charts. A nice situation we can check here in Bitcoin today. Botz of my channels are still short, but my shorttime channel is going more and more to the north AND Bitcoin has made a higher high and jump above the resistance (i had shown you the resistance as black line). So if we will have a going forward like that for tomorrrow i think we should think for a long jump. Good trades If you want to support my work and my charts please like them Renkotrade
BITFINEX:BTCUSDShort
by Renkotrade
POTENTIAL BITCOIN CHART ON THE LONG TERMThis chart has no relation at all with Bitcoin, but it has a similar trend looking at his first stages. Bitcoin had a first bubble in his past, hitting the 1100$ mark. Then it had a long term consolidation before the breakout of the all time high. On the second bubble it is gone straight to the 20000$ mark. Now we are in a corrective phase that can consist of a main impulsive drop an a potential sideways correction. What i'm expecting for the future is a scenario similar to this chart: a good consolidation before a breakout above the all time high. Let's see and good luck!
Long
by cantestogo