$BTC #BITCOIN #longpositions The risk-to-reward ratio for | Alex Atashkar on Binance Square

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$BTC 
#BITCOIN #longpositions 
The risk-to-reward ratio for Bitcoin's rise in the 4-hour timeframe is highly positive.

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$BTC BTC has touched the daily 200 EMA before during a bull run. Many people think we're in a bear market again. Here's how it looked in 2016 and 2017. Imagine selling at those times.

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$BTC The DXY chart indicates potential signs of an impending bearish trend. Should this materialize, it could result in a significant uptrend for cryptos such as Bitcoin, Ethereum, and Solana. Historically, a weakening dollar has often led to an increase in the value of these digital assets, potentially creating favorable market conditions. $SOL $ETH

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$BTC Bitcoin has officially lost its main weekly support at 64,000 and has settled on a shaky weekly support at 62,300. After a long time, it touched the resistance of 60,500, quickly returning to 61,000. This suggests a potential monthly correction, where Bitcoin may gradually move toward monthly support, find support there, and then witness an upward return, potentially reaching a new all-time high. Importantly, the Smart Money indicator is now at 95%, indicating a suitable buying position. The last time this indicator was at this level was when Bitcoin was in the 15-16 thousand range, which preceded a tremendous growth to above 70,000. Current support: 60,500 Current resistance: 64,600

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$BTC The analysis of the proprietary Bitcoin blockchain reveals that miners are starting to capitulate. The sooner this miner capitulation occurs, the sooner we can resume the bull run. Stay in the game. With the recent decrease in Bitcoin's price and network hash rate, many miners are giving up. Following the recent halving, mining costs have risen while rewards have fallen, leading numerous miners to shut down their rigs. The Hash Ribbons index has issued a capitulation signal for miners. According to data from IntoTheBlock, Bitcoin miners have sold over 30,000 bitcoins (approximately $2 billion) since June, marking the fastest sale in more than a year. In the last two days, Bitcoin has hovered near the critical weekly support level of $64,000, indicating its importance. While $63,500 served as weekend support, $64,000 has prompted a stronger price rebound. As the CME remains closed today and tomorrow, the weekly candle close above $64,000 could signal a price rise. However, a sudden drop to $62,000 followed by a rebound above $64,000 is also possible. Key support: $64,000 Current resistance: $68,000

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$BTC Today, global markets have opened, and the CME chart shows a small gap around the 66,000 level. The price is pulling back to this area, which aligns with the daily trend and the first weekly support. Key Support: 66,000 Current Resistance: 68,500

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