Because there are so many incorrect charts floating around, I decided it was time to create a long-term chart.
I believe that the logarithmic chart's right fit is a square root function, which indicates that the growth is slowing over very long durations. BTC can't just keep expanding exponentially. In 2025, this would result in outrageous pricing in the millions.
I am a long-term bull on bitcoin, but one must maintain reality.
The halvings are what drive these growth cycles since they always result in a supply shock and a subsequent rally.
Of course, these are all just estimates, but I believe this chart to be accurate.
BTC's long-term target is, in my opinion, about 150K USD in 2025 or later. It can be considered the last asymptotic price because it won't increase any further after that.
After the halving, the market experienced a roughly 1000-day bull and bear run. Using historical data, we can determine that Bitcoin entered the subsequent halving at a point that was almost 50% below its peak. In light of this, the price of Bitcoin may reach close to $35,000 before the subsequent halving.
I hope this graph clarifies how BTC's long-term growth dynamics work.
Only in a probabilistic approach, this concept
I believe that the logarithmic chart's right fit is a square root function, which indicates that the growth is slowing over very long durations. BTC can't just keep expanding exponentially. In 2025, this would result in outrageous pricing in the millions.
I am a long-term bull on bitcoin, but one must maintain reality.
The halvings are what drive these growth cycles since they always result in a supply shock and a subsequent rally.
Of course, these are all just estimates, but I believe this chart to be accurate.
BTC's long-term target is, in my opinion, about 150K USD in 2025 or later. It can be considered the last asymptotic price because it won't increase any further after that.
After the halving, the market experienced a roughly 1000-day bull and bear run. Using historical data, we can determine that Bitcoin entered the subsequent halving at a point that was almost 50% below its peak. In light of this, the price of Bitcoin may reach close to $35,000 before the subsequent halving.
I hope this graph clarifies how BTC's long-term growth dynamics work.
Only in a probabilistic approach, this concept
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Are the Ethereum Bull Taking Control of the Market?
The provided chart showcases the Taker Buy Sell Ratio metric, complemented by a 30-day simple moving average, alongside Ethereum's price. This metric serves as a gauge for assessing whether buyers or sellers are executing their orders with more aggression. Positive values are typically associated with bullish sentiment, whereas negative values are seen as bearish indicators.
However, Ethereum's price has undergone a downtrend in recent weeks, facing multiple rejections around the $2,000 resistance level. It's evident that this metric has been consistently residing in negative territory over the past few months, reflecting a prevailing bearish sentiment in the futures market towards ETH.
Nevertheless, there has been a notable shift in this metric as it suddenly surged, bringing its value closer to the neutral 0 line. This surge suggests a potential change in sentiment among market participants, indicating a shift towards a more bullish stance.
Should this metric continue its upward trajectory and venture into positive territory, it could herald the onset of a new phase characterized by bullish price action. In such a scenario, Ethereum's price might experience an upsurge, potentially targeting higher resistance levels.
The provided chart showcases the Taker Buy Sell Ratio metric, complemented by a 30-day simple moving average, alongside Ethereum's price. This metric serves as a gauge for assessing whether buyers or sellers are executing their orders with more aggression. Positive values are typically associated with bullish sentiment, whereas negative values are seen as bearish indicators.
However, Ethereum's price has undergone a downtrend in recent weeks, facing multiple rejections around the $2,000 resistance level. It's evident that this metric has been consistently residing in negative territory over the past few months, reflecting a prevailing bearish sentiment in the futures market towards ETH.
Nevertheless, there has been a notable shift in this metric as it suddenly surged, bringing its value closer to the neutral 0 line. This surge suggests a potential change in sentiment among market participants, indicating a shift towards a more bullish stance.
Should this metric continue its upward trajectory and venture into positive territory, it could herald the onset of a new phase characterized by bullish price action. In such a scenario, Ethereum's price might experience an upsurge, potentially targeting higher resistance levels.
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What's your opinion about this chart, guys?
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Currently, #Bitcoin is at a crucial resistance; if we break it, $32,000 will be the next price to come.
It's intriguing to see how similar the current price behaviour of Bitcoin is to its prior movement.
It's intriguing to see how similar the current price behaviour of Bitcoin is to its prior movement.
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The 27,200K level is currently acting as an obstacle for BTC.
Let's see if it can surpass this threshold or if it will once again be denied and drop to the 25K level.
Let's see if it can surpass this threshold or if it will once again be denied and drop to the 25K level.
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On the chart, we've spotted an ascending channel and a wide $6,000 sideways range. On the W1 timeframe, a robust support line with multiple confirmations has emerged. Following a false break of the 25,401 support, the flagship cryptocurrency is surging towards the 26,700 resistance. This zone is a crucial divider between the classic flat price movement. Currently, the price is squeezed within the 26,700-25,400 range, and a breakout in either direction could spark a significant move. While the crypto market awaits key data from the US Federal Reserve and the SEC, uncertainty prevails.
Support: 25,401, 24,900
Resistance: 26,700
Anticipating a retest of the 26,700 level soon. Ideally, a breakout from this range, given the substantial accumulation, but market sentiment remains fragile. We're closely monitoring price reactions in these zones. 📈💥📉
On the chart, we've spotted an ascending channel and a wide $6,000 sideways range. On the W1 timeframe, a robust support line with multiple confirmations has emerged. Following a false break of the 25,401 support, the flagship cryptocurrency is surging towards the 26,700 resistance. This zone is a crucial divider between the classic flat price movement. Currently, the price is squeezed within the 26,700-25,400 range, and a breakout in either direction could spark a significant move. While the crypto market awaits key data from the US Federal Reserve and the SEC, uncertainty prevails.
Support: 25,401, 24,900
Resistance: 26,700
Anticipating a retest of the 26,700 level soon. Ideally, a breakout from this range, given the substantial accumulation, but market sentiment remains fragile. We're closely monitoring price reactions in these zones. 📈💥📉
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#BTC remains steadfast at the resistance line with no breakout in sight. Brace for a potential nosedive to the robust 25K support if it fails to breach this barrier. 📉💥📈
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🚨 Mt. Gox Bitcoin Refunds Delayed AGAIN, Sending Ripples Through Crypto World! 📅
What was supposed to be a ray of hope for Mt. Gox creditors, with the deadline set for October 31, 2023, has now been pushed further into the future, landing on October 31, 2024. Let's rewind the story a bit—Mt. Gox, once the reigning giant responsible for over 70% of all Bitcoin trades, came crashing down in 2014 after a devastating cyberattack in 2011.
In the aftermath, this exchange's catastrophic collapse left an astounding 850,000 BTC unaccounted for and a staggering 24,000 anxious creditors clamoring for answers for years on end.
Now, the plot thickens. Mt. Gox's vaults still hold a treasure trove of around 138,000 Bitcoin (BTC), commanding a jaw-dropping value of $3.7 billion at current prices. Additionally, they're sitting on a significant stash of Bitcoin Cash (BCH) valued at $29 million and a colossal 69 billion Japanese yen ($46.5 million).
Hold onto your seats, traders! The anticipation builds as these cryptocurrencies continue their wait in the wings, bound for an uncertain journey into the market. 🛣️💰 #CryptoNews #MtGox #BitcoinRefunds
What was supposed to be a ray of hope for Mt. Gox creditors, with the deadline set for October 31, 2023, has now been pushed further into the future, landing on October 31, 2024. Let's rewind the story a bit—Mt. Gox, once the reigning giant responsible for over 70% of all Bitcoin trades, came crashing down in 2014 after a devastating cyberattack in 2011.
In the aftermath, this exchange's catastrophic collapse left an astounding 850,000 BTC unaccounted for and a staggering 24,000 anxious creditors clamoring for answers for years on end.
Now, the plot thickens. Mt. Gox's vaults still hold a treasure trove of around 138,000 Bitcoin (BTC), commanding a jaw-dropping value of $3.7 billion at current prices. Additionally, they're sitting on a significant stash of Bitcoin Cash (BCH) valued at $29 million and a colossal 69 billion Japanese yen ($46.5 million).
Hold onto your seats, traders! The anticipation builds as these cryptocurrencies continue their wait in the wings, bound for an uncertain journey into the market. 🛣️💰 #CryptoNews #MtGox #BitcoinRefunds
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Bitcoin (BTC) has recently encountered a formidable challenge around the 27.5k level, but fear not, as it's now bouncing back from the reassuring embrace of a local support at 26.5k. The technical landscape paints a promising picture: the Ichimoku cloud and the trusty 200-day Moving Average (MA) have stepped in as stalwart support pillars.
Yet, the journey ahead is not without its hurdles. To truly reclaim the skies, we must conquer the upper resistance looming above, a pivotal level for a potential bullish resurgence. The RSI (Relative Strength Index) is currently in the neutral zone, hinting at a period of consolidation within the triangular confines.
🔄 The stage is set for an intriguing showdown between bulls and bears, with a tinge of uncertainty in the air. Will this consolidation ultimately pave the way for a resounding breakout or a nail-biting breakdown? Traders, keep your eyes peeled as the crypto arena holds its breath for the next exhilarating move! 🌐💥 #Bitcoin #CryptoAnalysis
Yet, the journey ahead is not without its hurdles. To truly reclaim the skies, we must conquer the upper resistance looming above, a pivotal level for a potential bullish resurgence. The RSI (Relative Strength Index) is currently in the neutral zone, hinting at a period of consolidation within the triangular confines.
🔄 The stage is set for an intriguing showdown between bulls and bears, with a tinge of uncertainty in the air. Will this consolidation ultimately pave the way for a resounding breakout or a nail-biting breakdown? Traders, keep your eyes peeled as the crypto arena holds its breath for the next exhilarating move! 🌐💥 #Bitcoin #CryptoAnalysis
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#BTC update
In the ever-volatile world of cryptocurrencies, BTC's recent journey has been nothing short of captivating. After a valiant charge at the descending trendline, it now stands resiliently above the MA 21, much like a seasoned acrobat in perfect balance. Meanwhile, the RSI maintains its enigmatic neutrality.
But hold onto your seats, because the real spectacle awaits—a dramatic breakout moment when BTC conquers the descending trendline. Think of it as the climax of an epic story, heralding the bullish trend's triumphant return.
However, we're not just dreamers; we're vigilant observers. Should BTC descend below the MA 21 support, consider it a plot twist. This move could trigger a fresh set of challenges, echoing our encounters with the ever-reliable horizontal support level.
So, crypto enthusiasts, fasten your seatbelts! BTC is a relentless thrill-seeker, and we're in for an exhilarating ride. Keep a keen eye on that breakout, for in the world of cryptocurrencies, every twist and turn is a chance for adventure. 🚀💰 #CryptoAdventure #BTCAnalysis
#BTC update
In the ever-volatile world of cryptocurrencies, BTC's recent journey has been nothing short of captivating. After a valiant charge at the descending trendline, it now stands resiliently above the MA 21, much like a seasoned acrobat in perfect balance. Meanwhile, the RSI maintains its enigmatic neutrality.
But hold onto your seats, because the real spectacle awaits—a dramatic breakout moment when BTC conquers the descending trendline. Think of it as the climax of an epic story, heralding the bullish trend's triumphant return.
However, we're not just dreamers; we're vigilant observers. Should BTC descend below the MA 21 support, consider it a plot twist. This move could trigger a fresh set of challenges, echoing our encounters with the ever-reliable horizontal support level.
So, crypto enthusiasts, fasten your seatbelts! BTC is a relentless thrill-seeker, and we're in for an exhilarating ride. Keep a keen eye on that breakout, for in the world of cryptocurrencies, every twist and turn is a chance for adventure. 🚀💰 #CryptoAdventure #BTCAnalysis
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IMPORTANT AND EXPLAINED UPDATE
Bitcoin's Resilience Amid Market Turmoil: What Lies Ahead?
In the midst of a stormy week for equities and a surging U.S. dollar, Bitcoin (BTC) has stood its ground above the $26,000 mark – a feat that deserves a nod, considering the ominous signals emanating from other financial corners.
As of Friday afternoon, Bitcoin, the reigning crypto heavyweight, was holding steady at around $26,500, marking a modest 0.3% increase since the week's outset. Meanwhile, the S&P 500 and Nasdaq Composite Index, the barometers of U.S. stocks, plummeted by 2.7% and 3.2%, respectively.
Amid this turbulence, analytics firm IntoTheBlock labeled Bitcoin's resilience as "remarkable." What makes this even more intriguing is the decoupling of BTC from the U.S. Dollar Index (DXY), with their correlation hitting a flat zero – an absence of any relationship.
Underpinning this steadfastness is the increasing number of long-term holders or "HODLers," nearing an all-time high. This could signify their reluctance to part with their holdings ahead of a potential approval of a spot BTC exchange-traded fund (ETF) in the U.S.
Historically, these HODLers have been the bedrock of Bitcoin's price support during bearish phases and reaped rewards during bullish surges. This, according to IntoTheBlock, hints at a forthcoming bullish cycle for Bitcoin, even in an uncertain macroeconomic climate.
Yet, challenges loom ahead. Bitcoin encountered strong selling pressure as it approached $27,400, notably, the level where both the 200-weekly and 200-daily moving averages converge at $27,800. These moving averages are poised to act as formidable resistance in the near term.
In the options market, $24,000 puts and $35,000 call options have garnered substantial open interest, offering further clues about potential price movements. As Bitcoin continues to chart its course, the crypto world watches with bated breath, eager to see how it weathers the financial storms on the horizon. 🌪️📈 #BitcoinResilience #CryptoMarketAnalysis
Bitcoin's Resilience Amid Market Turmoil: What Lies Ahead?
In the midst of a stormy week for equities and a surging U.S. dollar, Bitcoin (BTC) has stood its ground above the $26,000 mark – a feat that deserves a nod, considering the ominous signals emanating from other financial corners.
As of Friday afternoon, Bitcoin, the reigning crypto heavyweight, was holding steady at around $26,500, marking a modest 0.3% increase since the week's outset. Meanwhile, the S&P 500 and Nasdaq Composite Index, the barometers of U.S. stocks, plummeted by 2.7% and 3.2%, respectively.
Amid this turbulence, analytics firm IntoTheBlock labeled Bitcoin's resilience as "remarkable." What makes this even more intriguing is the decoupling of BTC from the U.S. Dollar Index (DXY), with their correlation hitting a flat zero – an absence of any relationship.
Underpinning this steadfastness is the increasing number of long-term holders or "HODLers," nearing an all-time high. This could signify their reluctance to part with their holdings ahead of a potential approval of a spot BTC exchange-traded fund (ETF) in the U.S.
Historically, these HODLers have been the bedrock of Bitcoin's price support during bearish phases and reaped rewards during bullish surges. This, according to IntoTheBlock, hints at a forthcoming bullish cycle for Bitcoin, even in an uncertain macroeconomic climate.
Yet, challenges loom ahead. Bitcoin encountered strong selling pressure as it approached $27,400, notably, the level where both the 200-weekly and 200-daily moving averages converge at $27,800. These moving averages are poised to act as formidable resistance in the near term.
In the options market, $24,000 puts and $35,000 call options have garnered substantial open interest, offering further clues about potential price movements. As Bitcoin continues to chart its course, the crypto world watches with bated breath, eager to see how it weathers the financial storms on the horizon. 🌪️📈 #BitcoinResilience #CryptoMarketAnalysis
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In the dynamic world of Bitcoin (BTC) trading, a recent development has garnered attention. BTC faced a formidable challenge with a rejection from a descending trendline resistance, signaling a potential loss of momentum.
Currently, BTC finds itself at a pivotal crossroads, approaching a crucial horizontal support level that has historically shaped its price action. This level represents a battleground where bulls and bears engage in a fierce struggle, determining the path ahead.
To gain deeper insights, let's turn to the Relative Strength Index (RSI), a trusted indicator in the crypto world. The RSI is trending towards the oversold region, suggesting a bearish sentiment. However, the crypto market is known for its unpredictability, making future moves uncertain.
The burning question remains: Can the bulls muster the strength to regain control, avoiding a retest of vital support? Alternatively, are we on the cusp of witnessing a scenario many traders are contemplating – a test of that critical support level, potentially shaping the next phase of Bitcoin's journey? Stay tuned for the exciting twists and turns in the crypto market.
Currently, BTC finds itself at a pivotal crossroads, approaching a crucial horizontal support level that has historically shaped its price action. This level represents a battleground where bulls and bears engage in a fierce struggle, determining the path ahead.
To gain deeper insights, let's turn to the Relative Strength Index (RSI), a trusted indicator in the crypto world. The RSI is trending towards the oversold region, suggesting a bearish sentiment. However, the crypto market is known for its unpredictability, making future moves uncertain.
The burning question remains: Can the bulls muster the strength to regain control, avoiding a retest of vital support? Alternatively, are we on the cusp of witnessing a scenario many traders are contemplating – a test of that critical support level, potentially shaping the next phase of Bitcoin's journey? Stay tuned for the exciting twists and turns in the crypto market.
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📉 Bitcoin spot trading volume hits a 6-year low! Daily transactions have dwindled from over 600K in March to just 8-15K recently, sparking questions.
🌐 One key factor is mounting macroeconomic uncertainty fueled by the U.S. Central Bank's actions, leaving investors wary of a potential recession.
💡 Interestingly, this decline signifies a shift towards the 'HODL' mentality. Rather than quick gains, more are embracing Bitcoin as a long-term investment, betting on its future value instead of short-term profit-taking. 🚀 #Bitcoin #CryptoTrends
🌐 One key factor is mounting macroeconomic uncertainty fueled by the U.S. Central Bank's actions, leaving investors wary of a potential recession.
💡 Interestingly, this decline signifies a shift towards the 'HODL' mentality. Rather than quick gains, more are embracing Bitcoin as a long-term investment, betting on its future value instead of short-term profit-taking. 🚀 #Bitcoin #CryptoTrends
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#BTC UPDATE
Picture this: Bitcoin (BTC) is locked in a high-stakes showdown, battling a formidable descending channel pattern in the daily timeframe. The key to victory? Clearing the formidable 27k Resistance.
The scene is set, tension in the air, as BTC readies itself for a make-or-break moment. The RSI, like a cryptic oracle, whispers good intentions, hinting at an impending breakout.
Yet, lurking on the battlefield is the mighty 200MA, a formidable foe stationed at around 28k. This is no ordinary resistance—it's a formidable fortress that must be breached to claim victory.
But here's the thrilling twist: Once BTC confirms its breakout, the stage is set for an electrifying +15% bullish rally in early October. Imagine the excitement as the crypto world holds its breath, awaiting the battle's thrilling conclusion.
Picture this: Bitcoin (BTC) is locked in a high-stakes showdown, battling a formidable descending channel pattern in the daily timeframe. The key to victory? Clearing the formidable 27k Resistance.
The scene is set, tension in the air, as BTC readies itself for a make-or-break moment. The RSI, like a cryptic oracle, whispers good intentions, hinting at an impending breakout.
Yet, lurking on the battlefield is the mighty 200MA, a formidable foe stationed at around 28k. This is no ordinary resistance—it's a formidable fortress that must be breached to claim victory.
But here's the thrilling twist: Once BTC confirms its breakout, the stage is set for an electrifying +15% bullish rally in early October. Imagine the excitement as the crypto world holds its breath, awaiting the battle's thrilling conclusion.
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Bitcoin has made a comeback, bouncing off its solid support level. But now, it's facing a tough challenge. Imagine it as a tug-of-war.
Bitcoin is trying to break through resistance, not just at one level but at three: the horizontal line, MA 100, and MA 200. It's like climbing a mountain.
Inside the Ichimoku cloud, it's a bit hazy. That means people aren't sure which way it'll go.
Here's the deal: For Bitcoin to keep going up, it needs to break through that resistance. But if it gets pushed back, it might head downwards.
It's like a game of "Will it or won't it?" Stay tuned to see what happens next in the world of crypto! 🚀💰📈
CLICK ONE THE LINK FOR MORE INFO
Bitcoin is trying to break through resistance, not just at one level but at three: the horizontal line, MA 100, and MA 200. It's like climbing a mountain.
Inside the Ichimoku cloud, it's a bit hazy. That means people aren't sure which way it'll go.
Here's the deal: For Bitcoin to keep going up, it needs to break through that resistance. But if it gets pushed back, it might head downwards.
It's like a game of "Will it or won't it?" Stay tuned to see what happens next in the world of crypto! 🚀💰📈
CLICK ONE THE LINK FOR MORE INFO
