$BTC Analysis after Spot Bitcoin ETF Approval- The white resistance zone has been flipped into support
- There is very strong resistance in the red resistance zone ($46,270 to $48,264)
- The light blue trendline is my strongest resistance target around $49.1k
- There has been a brief pump up to the light blue trendline and a strong rejection down that resulted in a long wick back down
- Bitcoin is currently trying to flip the lower end of the red resistance zone into support at $46,270
Btctrend
$BTC Daily updateCRYPTOCAP:BTC #BTC $46,623 support in effect, $47,232 resistance holding. Previous 4h closed very good, current 1D looking good, if followed thru on previous daily close expect $47,786-$48,080 test,
Bitcoin ETF hype already pretty visible throughout the market, Jan 10 deadline approaching shortly.
Next key resistances $48,644, $49,734, $50,579, $51,630, $52,932.
Bitcoin #BTC 2024 HTF PlanI've been bullish the whole of 2023 on BTC and overall Crypto. Right now, I feel pretty uncomfortable posting an HTF #BTC chart exactly before the ETF decision.
Depending on how the market reacts this week, this plan may change completely
though,
"Show me the chart and I'll tell you the news".
This saying is deeply engraved in my trading
For the sake of the analysis, I will forget that there is major news incoming for Bitcoin and I'll analyze only the chart. This is not entirely correct though because the overall context always matters.
CRYPTOCAP:BTC looks solid right here and my bullish bias hasn't changed, yet. I think another push higher is due. At least I am expecting $48,000 near term as I've specified multiple times on my X profile. This will be a sweep of the March 22 High which led to the major sell-off that marked the bottom later on in Nov.
If after sweeping the high, the price loses the trend and starts breaking down, the only place where I'll be looking to start building HTF positions will be at the ~30,000 zone. There I'll be buying the 28/29,000 wicks.
LTF Bullish shift of structure will be a $32,000 reclaim, where I'll be looking to add to my position from lower.
The perfect scenario will be another push towards 38000 where the price needs to reclaim ~38,000, this will signal that the bulls are in full control of the trend and we may indeed see fresh highs.
Can't say what can happen next, though if the price start reclaiming 48,000 and holding the trend, I think new all-time highs are in the cards
BITCOIN (BTC) bearish short scenario After the report published by Matrixport about BTC ETF and they expected that BITCOIN SPOT ETF might not approve this month. Soon after the report came BITCOIN (BTC) slumped as below as 40k. Better to short here at 43k level.
targets are 40.8k, 38.6k, 36.6k, 35k, 33k & 29.8k
these expectations are for long terms.
NFA & DYOR.
Bitcoin Halving's Impact AnalysisBitcoin Halving Cycles Performance (Pre/Post 1 year performance)
Halving's Pre/Post year Performance:
1. 26th Nov 2012 - Pre 416% / Post 7715%
2. 9th July 2016 - Pre 110% / Post 283% (The full move including after the 24 month period was c.955%)
3. 11th May 2020 - Pre 76% / Post 423%
4. 27th April 2024 - Pre 50% / Post 200%
Pre Summary (from H2) - 110% - 76% - 50% prediction (reducing by c.25% each halving).
Post Summary (from H2) - 955% - 423% - 200% prediction (reduces by c. 50% each halving)
You can see the pattern in the reduced returns in each halving. The pre halving returns typically reduce by 25% a halving and the post halving returns reduce by 100% per halving. We ignore the first having as it was exponential introductory growth of the asset.
Important Dates are 27th April 2024 (halving date). Good place to skim or wait for a pullback). Also the date of 25th April 2025. This is a softer date, a take profit early date potentially, most cycles have ended in Q4 of the given year thus some chips should be left on the table post April 2025 depending on the continued performance up to that point.
Always a pleasure, I hope its been insightful
Puka
BTC RISKY SHORT SETUPHere's my Idea about Short term for BTC Short Position. Expecting an Dump
Entry Would be Around 43.6-43.7k
Stoploss Will be around 43868
Target will be 42.6k or 41.8k
The Trade is Risky So if you are degen then go for it or Use low levrage While Trading.
Follow For more Such good ideas & Don't Forget Share my ideas.
BitcoinMost Altcoins have been in the red since the weekend and the past 24 hours have been no different. Ethereum is currently down 2% and below $2,200. Binance Coin (-1.5%) has dropped below $240.
Even larger daily drops come from Ripple, Dogecoin, Polkadot, and Polygon. Solana has lost 5% on the day and is down to just under $70.
Cardano and Avalanche have dropped the most compared to larger-cap Altcoins. ADA is down 6%, while AVAX is down 9% and trading below $40.
The cumulative market capitalization of all crypto assets has fallen by $50 billion since yesterday's peak of $1.6 trillion and dropped to $1,550 on CMC.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC Testing $43,145 resistance at the top of the triangle, Amazing reversal followed by bullish pin bar 4h close at the bottom testing $40,583 support. Bullish engulfing on last 1D close, current daily moving for follow up. RSI on 4H and 1D looking good, Watch given S/R