Bitcoin bull flag joins MACD to tease new BTC price all-time high next

Bitcoin traders remain bullish over a BTC price breakout despite months of consolidation — and on-chain data supports them.

#Bitcoin❗

$BTC

$67,872 could be preparing to repeat its ascent to all-time highs from March, on-chain analysis shows.

In a post on X (formerly Twitter) on June 2, popular trader and commentator Alan Tardigrade drew a key comparison to BTC price action now and in mid-February.

Bitcoin on-chain metric echoes run-up to all-time high

Bitcoin needed less than a month to hit new all-time highs earlier this year when a classic on-chain indicator flashed green.

Now, the same setup is in the process of executing — with clear implications for BTC price strength.

“Coincidence or Price action??” Tardigrade queried while presenting the phenomenon.

“Bull Flag and MACD Bullish Cross at the same time. After a breakout to the Bull Flag, $BTC will surge higher.”

BTC/USD 3-day chart with MACD data. Source: Alan Tardigrade/X

Three-day MACD has long been on the radar for market observers tracking the current Bitcoin bull market.

In late December, data from Cointelegraph Markets Pro and TradingView confirms, a trip back into “red” territory preceded the turbulence around the debut of the United States’ spot Bitcoin exchange-traded funds, or ETFs.

BTC/USD 3-day chart with MACD data. Source: TradingView
Never mind the BTC price consolidation
Tardigrade adds to the varied opinions over the current sideways BTC price landscape.

Now consolidating below the March highs for nearly three months, Bitcoin, some warn, will continue to stay rangebound for weeks or more.

That has not stopped sky-high BTC price predictions from making a return, among them a $150,000 target for 2024 by research firm Fundstrat Global Advisors.

June, meanwhile, has traders eyeing $85,000 or more.

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🎯 “ After a breakout to the Bull Flag, $BTC will surge higher.” 💵

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✨ Daily Polka $DOT
Support and Resistance

Support 1: 7.22 Resistance 1: 7.59
Support 2: 7.07 Resistance 2: 7.80
Support 3: 6.85 Resistance 3: 7.96

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🛑 BREAKING 😲
Former FTX Exec Ryan Salame Sentenced to 7.5 Years Jail
Former FTX executive Ryan Salame has been sentenced to 7.5 years in prison, exceeding the government’s recommended sentence. This ruling marks a significant development in the legal aftermath of the FTX collapse.

#FTXTrial #Ftx❓ #Megadrop #BinanceLaunchpool

Former FTX executive Ryan Salame sentenced to seven and a half years in prison

Ryan Salame, the former co-CEO of FTX’s Bahamian subsidiary and a top lieutenant to the bankrupt cryptocurrency exchange’s founder, Sam Bankman-Fried, was sentenced on Tuesday to 90 months in prison, U.S. federal prosecutors said on Tuesday.

Salame pleaded guilty in September to making tens of millions of dollars in unlawful campaign donations to boost causes supported by his boss.

Bankman-Fried himself was sentenced earlier this year to 25 years in prison for stealing $8 billion from FTX customers. A jury found him guilty in November on seven fraud and conspiracy counts stemming from FTX’s 2022 collapse, which prosecutors have called one of the biggest financial frauds in U.S. history.

Prosecutors say Salame, Bankman-Fried and former FTX engineering chief Nishad Singh used FTX customer funds to donate to political candidates supporting crypto-friendly legislation.

In addition to the prison term, Salame, 30, was sentenced to three years of supervised release and ordered to pay more than $6 million in forfeiture and more than $5 million in restitution, prosecutors said in a statement on Tuesday.

“Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system,” said Damian Williams, U.S. Attorney for the Southern District of New York.

Salame, who could not immediately be reached for comment, gave more than $24 million to Republican candidates and causes in the 2022 election cycle, according to Federal Election Commision data, making him one of that year’s top donors.

He had pleaded guilty to one count of conspiracy to make unlawful political contributions and one count of conspiracy to operate an unlicensed money transmitting business.
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Daily $WIF Support and Resistance

Support 1: 3.0816 Resistance 1: 3.58
Support 2: 2.76 Resistance 2: 3.76
Support 3: 2.58 Resistance 3: 4.08
#wifhatdog #AltcoinGains #MemeWatch2024
#MemeCommunity #BinanceLaunchpool

🦸Which could be the next spot ETF candidate? 🤔
React with your choice below, and let's see which candidate comes out on top! 📈$SOL $DOGE $XRP

#SolanaUSTD #doge⚡ #XRPGoal #Write&Earn #MemeWatch2024

26-5-2024
🛑 Short ✨ Future Signal. Thanks me Later
Buy $LINK
In Future Trade only
💵 Short Buying zone
17.40
TP Targets
🎯 16.80
Stop Loss
🛑 17.65
leverage
🙏 10X

#LINK🔥🔥🔥 #FutureTarding #FuturestradingSignals #signalsfutures

26-5-2024
🛑 Short ✨ Future Signal. Thanks me Later
Buy $SOL
In Future Trade only
💵 Short Buying zone
167.34
TP Targets
🎯 163
Stop Loss
🛑 169.30
leverage
🙏 20X

#SolanaUSTD #ETHETFsApproved #FutureTarding #signalsfutures

JUST IN: CNBC discusses the possibility of a spot Solana ETF being approved after Ethereum. 🔥
$SOL #ETHETFsApproved #FIT21 #altcoins #BinanceLaunchpool #buythedip

$WIF My Favorite Meme Coin 🪙💵🎉
😎
#wifhatdog #WIF_Usdt #MemeWatch2024 #FIT21 #ETHETFsApproved

✨ Future Signal. Thanks me Later
Buy $OP
In Future Trade only
💵Buying zone
2.51
TP Targets
🎯 2.60
Stop Loss
🛑 2.25
leverage
🙏 10X
#FutureTarding #signalsfutures #ETHETFsApproved #altcoins #BinanceLaunchpool

7000$
$BTC #MarketSentimentToday
#btc70k #buythedip #ETHETFsApproved #BinanceLaunchpool

🛑💵 Spot Signal. Thanks me Later
Buy $VET
In spot only
Buying zone
0.03465
TP Targets
🎯0.03612
🎯0.03851
#VET: #VETUSDT #ETHETFsApproved #SPOTCALL🔥🔥🔥 #BinanceLaunchpool

💵 $BTC Analysis🛑

BTC Support is at $66,500 and $63,500. Resistance is at $70,000 and $72,000. Trade carefully and manage your risk according to mentioned support and resistance level.s

For BTC to remain bullish, it should avoid closing below $66,500 daily. A close below this level increases the probability of a retracement towards $63,500. BTC stays above $68,000 and makes daily candle closes above this level, the probability of testing $70,000 and $72,000 increases.
#btc70k #buythedip #EarnFreeCrypto2024 #BinanceLaunchpool

$WIF 💵 little Profits 🤠
#wifhatdog #MemeWatch2024 #BinanceLaunchpool

Not Big Profits But I m Happy 😊
$XRP $FTM $OP
#btc70k #ETHETFsApproved #buythedip #BinanceLaunchpool #XRPPredictions

Pepe not coming slow 😬$PEPE

U.Today - Long-term Bitcoin bull and MicroStrategy executive chairman Michael Saylor has published a Bitcoin message to the BTC community after the news spread about the U.S. Securities and Exchange issuing approval of spot Ethereum exchange-traded funds.

Saylor still expects Bitcoin to beat Ethereum and all other rivals on the market, according to his tweet.

Saylor's "Bitcoin Godzilla" message

Prominent Bitcoin maximalist Saylor posted a “BTC bullish” response to the rejoiced crypto community: “All your models are destroyed when Godzilla arrives. #Bitcoin,” along with an image of the movie-based monster crashing everything around itself.

The Godzilla image has a BTC mascot in the bottom right corner as if hinting at the immense power of Bitcoin that its followers believe in and the future impact on the market they expect to see.

Bitcoin maxi Samson Mow confirms bearish ETH outlook

Another Bitcoin maximalist, CEO of Jan3 Samson Mow, also responded to the Ethereum ETF approval negatively.

Mow believed that the odds of spot Ethereum ETFs getting approved had been always 50/50. He reckons that the only real reason that stands behind the approval is that the SEC had pushed themselves into a corner, so they “had no choice but to let it through.”

Mow reminded that, for him, ETF approval “does not change the bearish outlook for Ethereum at all.” Earlier this week, Mow tweeted that now is the last chance to sell ETH above 0.05 BTC.

On Thursday, the second-largest cryptocurrency, Ethereum, responded to the ETF news with an almost 5% increase, surging to the $3.937 level. However, a rebound followed, taking Ethereum down by 6.86%. At the time of this writing, ETH is changing hands at $3,664 per coin.

#Bitcoin❗ #ETHETFsApproved #buythedip #BinanceLaunchpool
$BTC $ETH

Daily $WIF Support and Resistance

Support 1: 2.75 Resistance 1: 3.07
Support 2: 2.57 Resistance 2: 3.22
Support 3: 2.43 Resistance 3: 3.39
#wifhatdog #altcoins #MemeWatch2024
#MemeCommunity #BinanceLaunchpool