After breaking out of the symmetrical triangle pattern, the bitcoin is currently facing rejection at the previous high, where the 200MA is also acting as a resistance barrier, while the 100MA is providing support. A retest of the pattern can be expected at this stage.
Furthermore, a breakout above the horizontal supply zone and the 200MA will signal a bullish trend. Keep a close watch on these movements.
$BTC VIP Analysis SEPTEMBER 22nd, 2024 - BIAS: Mid-Term: BULLISH Short-Term: BULLISH -- The price action of $BTC on the daily timeframe is consolidating within a descending triangle pattern.
It has broken out of its resistance level and is now consolidating above the support region.
Currently, $BTC is forming higher highs, and we can anticipate a higher low before another move to higher highs đ -- MAIN INTEREST LEVELS
âŹïžSHORTâŹïž $65,051
âŹïžLONGâŹïž $62,980
PREDICTED DAILY RANGE $60,391 to $65,132 -- ACTION PLAN
The price action is displaying holding momentum, indicating a potential bounce back toward the buy-side liquidity level, marked at $65,051. This could lead to further upward movement đđ„ ----
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The current price for 1 token is â$0.01, considering that it is not yet possible to sell coins. Thus, the average user will receive from $10 to $15 for 6 months of DAILY logging into the game.
Market Analysis SEPTEMBER 22nd, 2024 âââââ âȘïžTECHNICAL (H4) The price action of $BTC on the H4 timeframe is showing signs of compression, as it struggles to print further higher highs.
It is currently consolidating above its horizontal support level, while a double top structure is beginning to form. This pattern could indicate potential weakness and a short-term rejection đ
âȘïžWRAP-UP (VIP) The price action on the H1 timeframe is currently consolidating in a compression level đ. Additionally, it has left an H1 FVG gap marked between $61,706 and $60,490 đ.
We can expect this gap to potentially be filled during a retest, which could influence the next move of the price action đ
$BTC DAILY RANGE: đUpper Limit: $64,990 đLower Limit: $60,490 (+-6.01% based on moving average volatility open/endpoints)
âĄïž We've analyzed two key chartsâthe Daily and the Weekly. On the Daily chart, Bitcoin is forming a bullish W pattern and is on the verge of a breakout. Meanwhile, the Weekly chart shows Bitcoin nearing a crucial resistance level.
âĄïž Today marks an important weekly close, and itâs critical for Bitcoin to break through this resistance and open the new week above it. If this happens, the W pattern will also break its resistance, potentially leading to a major rally.
âĄïž However, if Bitcoin fails to break the weekly resistance and opens below it, we could see a correction in both Bitcoin and the broader crypto market, causing the W pattern to fail.
âĄïž The key resistance zone right now is between $63,500 and $64,000. This is why weâve seen bulls pushing Bitcoin up while bears fight to keep it down. The price action has been volatile, with quick sentiment changes. Because of this, we've had to open and close several trades quickly, so itâs wise to trade with low leverage and manage your risk carefully.
âĄïž This weekly candle close is crucial. If Bitcoin breaks through, we could see a shift from bearish to bullish sentiment, potentially kicking off a highly bullish quarter for the crypto market.
âĄïž To summarize: Watch the Weekly close, the W pattern, CZâs recent news, the U.S. election, and the start of a bullish quarter. The next few days could set the stage for an explosive Bitcoin rally. đžâïž$BTC
đș Over 350 million users conduct transactions with USDT, and Tether collaborates with 180 companies in 45 jurisdictions, according to Tether Limited.
đč The company described USDT as the "cornerstone of modern financial ecosystems."
đș According to the issuer, Tether is committed to protecting consumer rights and complying with regulatory requirements. This is reflected in quarterly attestations from BDO and in reports on the transparency of token reserves.
đč Additionally, the company highlighted its cooperation with law enforcement agencies in many countries to assist in investigations and freeze wallets belonging to malicious actors.
-- â Remember to have orders laddered along entire entry range with a larger order at OTE (Optimal Trade Entry), and be alert for volatility.
Take 30% off the table on first 1/2 targets and move stops to entries after Target 2/3 (depending on your risk tolerance), making it a free ride to further targets. Take equal profits on further targets, moving stop losses in profit.
Considering current market conditions and volatility, we donât recommended going above our recommended position size.
September 22, 2024 âââââââ MARKET ANALYSIS: Market Cap:Â $2.21 Trillion 24h Volume: $44.69 Billion BTC Dominance: 56.4% ETH Dominance: 14.2% đžBKÂź Health Standard: 5.2 (1 to 10) đžBKÂź Sentiment: 49% (-100% to 100%) âââââââ BINANCE ANALYSIS (USDT pairs): Top Gainers 1. PENDLE: +19% 2. NTRN:+7% 3. $AAVE :+5% Top Losers 1. $TIA : -7% 2. GAS: -6% 3. POWR: -5%
BINANCE FUTURES: Top Gainers 1. PENDLEUSDT: +20% 2. $IOTX USDT: +13% Top Losers 1. BONDUSDT: -22% 2. UXLINKUSDT: -10%
LARGEST VOLUME (24h) 1. BTC/USDT ($14B) 2. ETH/USDT ($10.56B)
DAILY OUTLOOK Pendle (PENDLE), Neutron (NTRN), and Aave (AAVE) are currently leading the market as top gainers, with Bitcoin (BTC) trading near $73K. It is strategically accumulating ahead of what could be the next major price movement. A breakout above the critical $65K resistance level will serve as a key confirmation for bullish momentum, signaling the potential for further continuation of the upward trend. âââââââ - Salman Khan WazirÂź