Can #Bitcoin Sustain Its Parabolic Momentum?🧐
The price of #Bitcoin (
BTC
) has deviated from our initial projections but has adhered to the weekly forecast, notably breaking through a formidable resistance area and experiencing a significant surge. This upward movement appears to be catalyzed by the imminent news regarding a #BitcoinETF, suggesting a sustained price level until additional information is disclosed. We anticipate a probable retest at around $44,500, representing a healthy correction in the market.
According to the current chart analysis, Bitcoin is exhibiting parabolic growth. The formation of the third base is evident, and we anticipate a touch of the $52,000 level after the breakout of the fourth base.
Stay tuned for further quality updates.
#Crypto
BTC
) has deviated from our initial projections but has adhered to the weekly forecast, notably breaking through a formidable resistance area and experiencing a significant surge. This upward movement appears to be catalyzed by the imminent news regarding a #BitcoinETF, suggesting a sustained price level until additional information is disclosed. We anticipate a probable retest at around $44,500, representing a healthy correction in the market. According to the current chart analysis, Bitcoin is exhibiting parabolic growth. The formation of the third base is evident, and we anticipate a touch of the $52,000 level after the breakout of the fourth base.
Stay tuned for further quality updates.
#Crypto
Comment:
#BTC retraced to the Major Support zone as anticipated, triggered by a misleading tweet from #SEC's Official X account regarding #ETF. The market response exposed it as fake news, emphasizing the intertwining of events with technical analysis. Today, we eagerly await market-shaping news.
Comment:
Bitcoin, represented by
BTC
has undergone multiple retests within a specific zone, ultimately breaking through and retesting it. The price has consistently rejected the zone on numerous occasions, indicating a bullish sentiment at present. Additionally, the approval of multiple #ETFs is a positive development, contributing to the sustainability of the price above the zone. If Bitcoin continues to remain stable amidst these factors, it may pave the way for a significant rally in alternative cryptocurrencies soon. #BitcoinETFs #BTC #Crypto #BlackRock #SEC
BTC
has undergone multiple retests within a specific zone, ultimately breaking through and retesting it. The price has consistently rejected the zone on numerous occasions, indicating a bullish sentiment at present. Additionally, the approval of multiple #ETFs is a positive development, contributing to the sustainability of the price above the zone. If Bitcoin continues to remain stable amidst these factors, it may pave the way for a significant rally in alternative cryptocurrencies soon. #BitcoinETFs #BTC #Crypto #BlackRock #SEC
Comment:
#Bitcoin has consistently maintained its position within a certain range, although it has also faced rejection from a structural resistance area. It appears that a price range is forming, indicating a potential retest of the major support zone before any upward movement. Meanwhile, altcoins have shown strength, benefiting from the overall market momentum. Further gains in altcoins are anticipated once the price stabilizes, prompting a flow of funds into alternative cryptocurrencies.
#Crypto
#Crypto
Comment:
In the daily #Bitcoin is showing a bearish divergence. Should we be concerned?
The cryptocurrency exhibited a precise movement, navigating from one level to another, primarily influenced by recent ETF news. However, it encountered resistance at the $47,000 mark, leading to a subsequent decline. The price retraced to a critical level, the grey box region around $42,000, where a potential rejection could occur. The overall market structure has now shifted towards a bearish sentiment, urging caution for any new trades. It's crucial to observe Bitcoin's stability at the current level; in the event of consolidation, there is a likelihood of significant upward movement in altcoins.
The cryptocurrency exhibited a precise movement, navigating from one level to another, primarily influenced by recent ETF news. However, it encountered resistance at the $47,000 mark, leading to a subsequent decline. The price retraced to a critical level, the grey box region around $42,000, where a potential rejection could occur. The overall market structure has now shifted towards a bearish sentiment, urging caution for any new trades. It's crucial to observe Bitcoin's stability at the current level; in the event of consolidation, there is a likelihood of significant upward movement in altcoins.
Comment:
Bitcoin (BTC) is presently trading within a channel, accompanied by a deviation move. Currently, it is maintaining its position above the trendline, the 100-day moving average (MA), and Ichimoku cloud support.
Bulls need to demonstrate increased momentum to reclaim control from this point onward. Conversely, a sustained breakdown of the channel would serve as confirmation of a bearish trend.
Bulls need to demonstrate increased momentum to reclaim control from this point onward. Conversely, a sustained breakdown of the channel would serve as confirmation of a bearish trend.
Comment:
BTC
closed the week below the support area, indicating a bearish sentiment.
On the H4 timeframe, the price touched the major support area once again and is currently holding above it. There's a possibility of the price entering consolidation, given the neutral stance of the market.
Monitoring the range is crucial, as no decisive action can be taken until a breakout occurs on either side.
#Crypto
BTC
closed the week below the support area, indicating a bearish sentiment. On the H4 timeframe, the price touched the major support area once again and is currently holding above it. There's a possibility of the price entering consolidation, given the neutral stance of the market.
Monitoring the range is crucial, as no decisive action can be taken until a breakout occurs on either side.
#Crypto
The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection.