As we move through the week, #Bitcoin❗ price action has been particularly interesting. Let’s break down what I’m seeing, especially from Sunday onward, and discuss why this could be a great opportunity for traders looking for a short position.
Consolidation and Rejection from $66,500
Starting on Sunday, Bitcoin was in a consolidation phase around the $66,000 range. The price got rejected from the $66,500 level, a significant resistance point. Following that rejection, Monday saw the price move down, entering a clear downtrend. Since then, Bitcoin has been forming a Bearish Trendline, and it found support around the $60,000 level.
Bearish Trendline Breakout – Fake Out?
On Friday morning, Bitcoin gave a bearish trendline breakout at around $60,800, which I’ve marked with a yellow circle in the chart. At first glance, this might seem like a bullish breakout for many traders, especially those with smaller capital. These traders might see the support at $60,000 and the trendline breakout as signs that Bitcoin is ready to pump.
However, I believe this could be a fake breakout. Why? Because, on the higher timeframe, Bitcoin is still facing rejection from a key level—$66,000, which sits in the higher timeframe supply zone. This rejection makes me cautious about calling this a confirmed breakout.
Fibonacci Levels and Potential Short Play
Looking at the Fibonacci retracement levels of the recent downtrend, there’s a possibility that Bitcoin might rise in the short term, testing the 0.5 Fibonacci level at $63,215.57 or even the 0.618 level at $63,995.16. These levels are key because there’s a Fair Value Gap where the market left unfilled orders. This could lead to a short-term price pump to capture those orders before continuing the overall downtrend.
In my view, this pump would be temporary, as the price is still being heavily rejected at higher levels. The price could rise to the mentioned Fibonacci levels but would likely resume its downward trend afterward. If the market respects these levels, Bitcoin could fall back to the 0.5 Fibonacci retracement level of $59,586.90 or even the 0.618 level at $57,900.14 from the major swing low.
My Short Entry Strategy
Given the recent market behavior, here’s my strategy for a potential short trade on Bitcoin:
Entry Point for Short: $63,201.39Stop Loss: $64,201.39 (just above the 0.618 Fibonacci level)Take Profit: $59,586.90Risk-to-Reward Ratio: 1:3.63 (a solid ratio that gives a good margin of profit versus risk)
In this scenario, the entry point is carefully placed just before the key Fibonacci resistance levels, and the stop loss is set tightly to limit risk. If the price reaches these levels and respects them, there’s a high probability the downtrend will resume, offering a profitable opportunity for a short trade.
The Weekend Effect and Bitcoin's Potential Decline
Historically, Bitcoin has a tendency to fall during weekends due to lower liquidity and reduced institutional activity. This strengthens the bearish outlook and supports my belief that Bitcoin will likely continue its downward trend after retesting the Fibonacci levels.
Final Thoughts
While this is my personal technical analysis of the current Bitcoin market, I’m not a financial advisor. It’s crucial to conduct your own research before making any trading decisions. The market can be unpredictable, and risk management is key to staying safe in volatile conditions.
Best of luck, trade safe, and keep an eye on those key levels!
#LuckySevenTrader #Follow_Me_For_More #WeAreAllSatoshi #BTCReboundsAfterFOMC $BTC $ETH $BNB

Bitcoin's (BTCUSD) full Cycle since the November 2021 High can be illustrated as nothing more than a Cup and Handle (C&H) pattern with the Channel Down since March 2024 being the Handle of the formation.
Simple yet a technical reality, the Handle found support both in early August and September on the 1W MA50 (blue trend-line), keeping the bullish trend valid. In fact, the 1D MA200 (red trend-line) and the 1W MA50 have been the bottom formation zone during its previous 6-month consolidation in August - September 2023.
All Bullish Legs since the November 2022 bottom have been within +90% and +100%. Even if the minimum (+91.68%) of the last rally is followed, we can expect Bitcoin to reach at least $94000 during that run by the end of the year.
But what do you think? Will this Cycle-long Cup and Handle serve its purpose and break-out aggressively? Feel free to let us know in the comments section below!
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#bitcoin☀️ #Bitcoin❗ #BTCUSDT #BTC☀ #signals

$BTC

The latest price for one Bitcoin (BTC) is $62,211, reflecting a 3% increase in the last 24 hours. BTC has closed above its opening price 52.87% of the time. The all-time high for Bitcoin is $72,689, recorded six months ago, marking a decline of 14.42% from that peak.

Among 17 technical indicators, 8 signal a buy and 4 indicate a sell, suggesting a bullish short-term sentiment based on technical analysis. The first major resistance level for BTC is at $62,441; a close above this level is necessary for further upward movement. The bottom support level is at $60,316; if the price falls below this, a further decline may follow. Conversely, closing above $62,441 could allow BTC to rise to the next resistance at $65,026.

The 14-day relative strength index (RSI) currently stands at 45.43, indicating a neutral market without oversold or overbought conditions. The weekly RSI is at 63.48, similarly suggesting balanced market conditions.

Historically, Bitcoin's price on the last day of October has closed above the opening price 9 out of the last 12 years, while it closed lower 3 times. February has been Bitcoin's strongest month over the past twelve years, with prices ending higher than the beginning 9 times. August has been the weakest month, seeing prices lower at the end 8 out of 12 times.

Bitcoin has experienced three notable bull runs. The first all-time high (ATH) was in November 2013 at $1,156, followed by a decline to $211.73 before the next bull run. Approximately four years later, a new ATH was reached. The last significant bull run occurred in November 2021, with 1,060 days having passed since then. Historically, BTC took 1,405 days to reach a new ATH.

According to our Bitcoin price prediction, BTC could reach $68,216 in the next 10 days. The long-term forecast for 2025 is $221,485, with a 2030 prediction of $369,701. Looking even further ahead, predictions for 2040 suggest a price of $1,018,422.

For 2024, the projected maximum price for Bitcoin is $79,207, with a minimum of $16,587, placing the expected price range for this year between $16,587 and $79,207. For 2025, the maximum forecast is $221,485, with a minimum estimate of $180,722.
#WeAreAllSatoshi #BinanceLaunchpoolHMSTR #U.S.UnemploymentNewLow #HBODocumentarySatoshiRevealed #Bitcoin❗

Introduction:
Knowing when to exit a trade is crucial to successful trading. A well-executed entry can turn into a loss without proper exit management. Here, we'll explore five expert exit strategies to enhance your trading skills.
Profit Target Exit: Set realistic profit targets using technical indicators.
Trailing Stop Loss: Dynamic exit strategy locking in profits as the market moves.
Time-Based Exit: Exit based on time, ideal for day traders and scalpers.
Technical Indicator-Based Exit: Utilize indicators like RSI and MACD to determine exits.
Breakout/Breakdown Exit: Ride momentum and exit on signs of stalling or reversal.
Conclusion:
Exiting trades professionally requires discipline, analysis, and instinct. By incorporating these strategies, you'll minimize emotional decision-making and maximize profits.
#ProfitWithConfidence #Write2Earn! #graphicanalysis #BinanceLaunchpoolHMSTR #Bitcoin❗

US economy sees whopping 254,000 jobs increase, Bitcoin (#BTC☀ ) barely noticed optimistic report
The U.S. Bureau of Labor Statistics comes with a "super-bullish" employment report ahead of the U.S. election: business added a stunning 250,000 jobs in September. However, even this surprisingly positive report failed to trigger a #Bitcoin❗ (BTC) upsurge.
U.S. adding whopping 250,000 jobs, Bitcoin ($BTC
) fails to spike
In September 2024, U.S. unemployment rates dropped to 4.1% from 4.2% in August, today's report says. American businesses managed to add 250,000 jobs, which is also higher than during previous months. This report is a major positive macro trigger for U.S.-related indexes.
September jobs report: US economy adds 254,000 jobs vs. 150,000 expected pic.twitter.com/fUZvzx8tuK
— Yahoo Finance (@YahooFinance) October 4, 2024
In August, employers posted 159,000 new jobs, while in July, they added 144,000 positions. September's robust report says that U.S. economy handled the aftermath of a devastating Hurricane Helene.
Bitcoin (BTC), the largest cryptocurrency, failed to properly react to such an impressive report. Right after its release, the BTC price jumped from $61,292 to $62,000 but lost steam fast.
As of now, #bitcoin☀️ (BTC) has dipped to $61,000 and is almost ready to slip below yesterday's level. Ethereum ($ETH
), the second-largest cryptocurrency, lost 1.3% in the previous hour.
The S&P 500 added 0.17% at market opening, while the NASDAQ 100 is up by 0.47%, both impressed by extremely optimistic payroll data.
Short-term rally on horizon for BTC?
In the meantime, #CryptocurrencyMarkets are struggling to get out of prolonged recession caused by global macro uncertainty. The net capitalization of crypto markets added 2.1% today.
Bitcoin (BTC), the largest cryptocurrency, is treated positively by analysts in the short term. As covered by @WISE MOONBIX previously, the Coinbase Premium ratio formed a bullish "golden cross" on short time frames.
CryptoQuant analysts interpreted this trend as a signal of strength of U.S. investors and, therefore, an upside for Bitcoin's (BTC) price.
#BinanceLaunchpoolHMSTR

Theory: "The Cryptographic Cartographer"
Satoshi Nakamoto is actually Dr. Shigeo Tsujii, a Japanese mathematician and cryptographer who worked for the National Institute of Information and Communications Technology (NICT) in Tokyo.
Background:
Dr. Tsujii, born in 1957, was a renowned expert in number theory and cryptography. He published numerous papers on cryptographic protocols and was a key contributor to Japan's cryptographic standards.
Connection to Cryptography:
In the 1990s, Dr. Tsujii worked alongside notable cryptographers like Dr. Masahiro Mambo (known for his work on digital signatures) and Dr. Tatsuaki Okamoto (a pioneer in cryptographic protocols). This collaboration likely influenced the development of Bitcoin's cryptographic architecture.
The "Cartographer" Connection:
Dr. Tsujii's fascination with geographic information systems (GIS) and mapping technologies led him to explore the concept of "cryptographic cartography." He envisioned a decentralized system where geographical locations could be linked to cryptographic keys, enabling secure and transparent transactions.
Bitcoin's Genesis:
In 2007, Dr. Tsujii, then 50, began working on Bitcoin as a side project. He combined his expertise in cryptography, mathematics, and GIS to create a decentralized, location-agnostic financial system.
Pseudonym Origin:
"Satoshi Nakamoto" is derived from:
1. "Satoshi" - a common Japanese name, paying homage to Japan's cryptographic heritage.
2. "Nakamoto" - an anagram of "Tokyo Mambo," nodding to his collaboration with Dr. Mambo.
Profession-Related Clues:
1. Bitcoin's source code contains geographic mapping functions, hinting at Dr. Tsujii's GIS expertise.
2. The Bitcoin protocol's use of elliptic curve cryptography mirrors Dr. Tsujii's published research.
3. Satoshi's writings demonstrate a deep understanding of Japanese culture and language.
Personal Life:
Dr. Tsujii allegedly kept his true identity hidden to protect his family and maintain anonymity. He may have moved to the United States or Europe to further develop Bitcoin, using his NICT connections to stay informed about global cryptographic advancements.
Post-Bitcoin Life:
After releasing Bitcoin, Dr. Tsujii likely returned to Japan, resuming his academic work under his real name. His involvement with Bitcoin remains a secret, known only to a select few.
Evidence:
While this theory lacks concrete evidence, the following hints support it:
1. Dr. Tsujii's published research aligns with Bitcoin's cryptographic foundations.
2. Satoshi's writing style and language usage resemble Dr. Tsujii's academic papers.
3. The timing of Dr. Tsujii's research and Bitcoin's emergence coincide.
Now, imagine the thrill of uncovering the truth... 😜😜😜 #weallare. #Stoshinakamoto #Debate2024 #Bitcoin❗ #WeAreAllSatoshi

Exciting updates from the $MAJOR team will reshape the gaming token landscape.
Innovations:
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2. Dynamic Ranking System: Engage, compete, and earn rewards. Active players climb ranks, receiving exclusive benefits, including the upcoming $MAJOR token airdrop.
3. Tokenomics Reveal: The highly anticipated structure will unlock new opportunities, maximizing player interaction and ecosystem engagement.
Key Takeaways:
- Pioneering NFT integration in gaming collectibles
- Rewarding community participation and competition
- Enhanced tokenomics for a vibrant ecosystem
Stay Tuned:
- Full tokenomics reveal
- $MAJOR token airdrop
- New era in gaming
#Major #BinanceLaunchpoolHMSTR #Bitcoin❗