#BTC Today Analysis & Prediction May 4'2024

After watching BTC chart, order book, trading data, greed index, usd value for some hours and getting Balinese Coffee + Yakult + Cigarettes to make my brain work properly for analyzing the data I had watch

I came to conclusion that my previous prediction about chance of Big Dip will be happen at $62k range became smaller because buying orders is still strong with excitement from Large & Medium Orders while Small Orders as you can see from trading data even it show positive but it seem most of them do profits taking and in waiting position to do re-entry

When this post being written BTC had moving between $62700-$63100 with profits taking actions mostly from Small Orders but Large & Medium Orders had filling the gap and with this behaviours there is high chance BTC movements will likely to climbing up to $64k or even higher where I suppose at $66k will facing high resistances from selling orders and we may see BIG DIP come from this range

For now I'm seeing BTC movements in positive ways but as we facing weekend which usually BIG DIP happened so I'm recommending you to watch trading data with cautions if there is signs of massive selling orders from Large & Medium Orders and you can take quick action if you think your entry point will get liquidated with this BIG DIP

Overall I still recommending you to HOLD and get more from the dip because there is positive news about Greyscale ETF, Blackrock ETF and Hongkong ETF also The FED last statements gave signal there will be interest cut in this year and will impacting money moving out from stock market to crypto market as USD value will get down too

With this price increase, BTC hash rate also got increase which mean miners getting interested too and starting their operational again

For coins in my watch list so far #PEPE still leading in price increase followed by #BOME while #FLOKI still a bit slow which I think Large orders may come in to FLOKI

Edit :

Adding forgotten info about FED interest cut signal as someone had reminding me about it

As always DYOR

God bless