$BTC Bitcoin's price has been falling rapidly recently due to several important factors. First, the sudden surge in long liquidations has increased selling pressure, especially when BTC hit a key resistance level near $70,000. When highly leveraged investors are liquidated, the price often corrects more sharply.

Second, although the US Federal Reserve has hinted at an interest rate cut, which is usually supportive of risk assets like Bitcoin, the market has recently been concerned about increased volatility and unfavorable short-term moves. Some analysts warn that a temporary correction may be necessary before Bitcoin continues its upward momentum.

In addition, uncertainty in the global economy and political factors, such as the upcoming US election, have also made investors hesitant, leading to this temporary price drop.

BTC Trend
Currently, Bitcoin price is showing strong volatility with prices around $66,000 to $68,000. Recent trends suggest that Bitcoin is likely to continue rising, with many analysts predicting that the price could reach $74,000 in the near future. The Bitcoin market is attracting great interest from investors, as open interest on derivatives exchanges has increased to near record levels, indicating an increase in trading volume.

However, traders remain divided on Bitcoin's short-term outlook, with the ratio of short orders (51%) to long orders (49%) being almost equal. This shows hesitation in predicting the direction of the market. However, many investors remain optimistic about the possibility of reaching new highs by the end of 2024.

This trend reflects Bitcoin's recovery after a period of low prices in the past, with many predicting further price increases due to factors such as growing support from major financial institutions and the development of blockchain technology.

From now until the end of 2024, the Bitcoin (BTC) price trend is expected to continue to fluctuate, with both positive and risky factors affecting the market.$BTC

Burst factors:

1. Halving event in April 2024: This event often leads to a reduction in supply and an increase in Bitcoin price after a few months. Many experts expect that BTC price will be able to reach new highs in the coming months.

2. Bitcoin ETF: The approval of Bitcoin ETFs in the US has created a large inflow of money from institutional investors, which is likely to maintain the upward trend of BTC price.

3. Monetary policy: The US Federal Reserve (Fed) is expected to cut interest rates in November, which could create a positive wave for the cryptocurrency market.

Bearish Factors:

1. Market Sentiment: Despite the positive expectations, some technical analysis indicates that BTC may decline slightly by the end of the year, with the possibility that BTC price may hit a low of around $60,783 in December.

2. Market Correction: After a strong rally, the market may face selling pressure from investors taking profits, which may cause short-term corrections.

Overall, experts predict that Bitcoin price will fluctuate between $60,000 and $90,000 between now and the end of the year, with the prospect of further price increases if favorable factors continue.

The current Bitcoin price is around $68,231, and technical analysis shows that the overall trend is bullish. Important indicators such as the short-term and long-term moving averages (MAs) are all showing buy signals, especially the MA50 and MA200 lines, indicating that the bullish momentum is still maintained.

However, other momentum indicators such as the relative strength index (RSI) are currently at neutral levels (53.45), indicating that Bitcoin is neither overbought nor oversold, and some other oscillators such as the Stochastic and MACD are also leaning towards neutral.

Currently, Bitcoin is trading in a range near the strong resistance level around $63,938 and has the potential to rise further if it breaks this level. Important support levels that investors should pay attention to are located at the $62,148 and $60,924 areas.

The overall trend shows an upward outlook, but the market is still subject to some volatility. Investors should closely monitor factors such as the “Fear & Greed” index and resistance/support levels in the coming time.

Cryptocurrency Policy and Regulation

• Global Regulatory Situation: Several major countries such as the United States, Europe, and China are considering cryptocurrency regulations, including taxation, exchange controls, and the use of blockchain. Any major change in regulatory policy could have a major impact on Bitcoin prices. For example, if the United States introduces a positive regulatory framework, this could boost Bitcoin prices as investors feel more confident about the future of the cryptocurrency market.
• Bitcoin as Legal Currency: After El Salvador, several other countries are also considering adopting Bitcoin as legal currency. Whenever a major or important country decides to adopt Bitcoin into its financial system, its price usually increases sharply.

Global Political and Economic Events

• US Elections and Monetary Policy: Political events such as the US presidential election can impact financial market trends, including cryptocurrencies. Policies related to interest rates, economic stimulus packages, and cryptocurrency regulations from new administrations can affect Bitcoin prices.

• Interest rates and inflation: Global economic conditions, including inflation and interest rates, have a strong impact on financial markets. When interest rates rise, investors often seek out value-preserving assets like Bitcoin. If inflation continues to rise, the demand for non-traditional assets like Bitcoin may increase.$BTC

$BTC
Currently, Bitcoin price is hovering around $68,213 with some notable factors to analyze to better understand the trend and forecast in the coming time:

1. Short-term growth

• Growth in the past 24 hours: Bitcoin has increased by about 1.51% in the past 24 hours. This slight increase shows some buying momentum from investors, but not a strong increase. This accumulation may signal that the market is waiting for a big push from external factors (such as politics, blockchain technology or new legal regulations).
• Growth in the week and month: Over the past week, Bitcoin price has increased by more than 13%, indicating a short-term uptrend. However, this rally could be related to the market starting to expect a global recovery, as well as the growth of blockchain-related technologies and DeFi (Decentralized Finance).

2. Technical Analysis

• Trading volume: The daily trading volume is around $34.69 billion. This is a relatively large number, showing that investor interest in Bitcoin is still high. Typically, high trading volume indicates strong participation, and when the price does not fluctuate too much, this could be a sign of an accumulation phase before a new trend emerges.
• Accumulation trend: Currently, the market is in an accumulation phase with small increases and decreases. This usually signals that the price may break out in the near future, potentially with a strong increase (if market conditions are favorable) or a deep decrease (if there is selling pressure or a sudden crash).

I warned you before that it's $BTC

$BTC

The current BTC/USDT chart shows a clear downtrend with signals from SuperTrend, MA, MACD and ADX all pointing towards the continuation of the trend. RSI, although showing mild oversold signs, is not enough to reverse the current trend. Traders should be cautious and may consider selling if there are no clear signs of recovery, while using stop-loss orders to minimize risk in case the trend continues to decline.

"Bitcoin Market Analysis August 6: Bearish Trend and Technical Forecast"


$BTC SuperTrend Indicator: The price is currently below the SuperTrend indicator, indicating a bearish trend in the market.

ADX (14): The ADX indicator is at 25.78, indicating that the current bearish trend is quite strong and is likely to continue.

$BTC : The MACD shows a bearish trend as the MACD line is below the signal line and both are below zero, confirming the bearish trend.

$BTC RSI (14): The RSI is at 32.68, indicating that Bitcoin is nearing the oversold zone, although there is still room for further downside before a recovery is seen.

* Bollinger Bands: Price is currently near or below the lower band of the Bollinger Bands, suggesting that price may be low relative to recent volatility.

Volume: Volume increases during bearish sessions, supporting the current bearish trend.

⭐Conclusion:
Bitcoin is currently in a strong downtrend, with technical indicators supporting continued downside. Investors should be cautious of further volatility, especially as the RSI shows potential for a rebound from oversold territory. However, the ideal entry point will depend on clearer signs of recovery from the market.

$BTC Recommended:
• Be careful: Currently the main trend is still down, so you should be cautious with buy orders.
• Closely monitor: Need to closely monitor technical indicators to keep up with changes in price trends.
• Trend confirmation: Wait for clearer uptrend confirmation before deciding to invest.
This report gives an overview of the current situation of BTC/USDT, providing key support levels and predicted trends, along with necessary recommendations for investors to make informed decisions. smart.

Trading Chart Analysis July 31, 2024

Market Overview:
Trading volume decreased slightly, indicating that investor interest is fading. Price is currently below the 10 EMA and 20 EMA, confirming the short-term downtrend. The key support level is located at 66802.4 ( EMA 20).
Indicator Analysis:
Ichimoku Cloud:
Price is below the Ichimoku cloud, confirming the downtrend. The Lagging Span and Conversion Line are close to each other, there may be a short-term reversal.
MACD:
The MACD line is below the signal line, the histogram is negative, the signal is strongly decreasing.
MFI:
At 26.54, near the oversold zone, there is a possibility of a slight increase in the short term.
Stoch RSI:
At 2.49, in oversold territory, upside is likely.
RSI:
At 40.34, in the neutral zone, there is no clear signal yet.
ADX:
At 25.69, it shows that the current trend is not strong, the market is in the accumulation phase.
Conclude:
Short-term trend: The market is in a period of fluctuation and accumulation with a downtrend. There may be a slight recovery. Long-term trend: If critical support level 66802.4 is not broken, the downtrend may continue.
Investment Tips:
Investors should closely monitor support levels and technical indicators to make accurate decisions. Be ready for short-term fluctuations but pay attention to long-term trends.

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Overall trend: Bearish, with price currently below the moving averages and below the Ichimoku cloud.
Momentum: Momentum is down, but there could be a short-term recovery due to positive MACD histogram and low trading volume.
Volatility: Low volatility according to BBW, but ATR indicates possible volatility.
The market is in a strong downtrend. There may be a short-term recovery, but selling pressure remains. Investors should be careful and monitor other technical signals before making trading decisions.

Downtrend prevails:
The short-term MA crosses below the long-term MA.
MACD is below the signal line.
Bollinger Bands widen and price approaches the lower band.
Strong sell signal:
Trading volume increased suddenly, selling pressure was strong.
OBV is falling, indicating money is leaving the asset.
Some indicators are in oversold state:
Stochastic and CCI are at oversold levels, which could lead to a short-term recovery.
Neutral RSI:
RSI is at a neutral level, the overbought or oversold zone has not been clearly identified.
Main conclusion: Currently the downtrend prevails. Investors should be careful, monitor other signals and consider carefully before making trading decisions. There may be a short-term recovery but selling pressure remains strong.

* Short-term trend: Indicators such as DEMA, EMA and MACD show that a short-term price uptrend is forming but not yet strong.
* Mid-term trend: Ichimoku and Bollinger Bands Width show that the market is accumulating and needs further signal confirmation to predict the mid-term trend.
* Recommendation: Currently, there are signs of recovery and a short-term uptrend, but need to be careful and monitor more signals to confirm the medium-term uptrend. Investors can review support and resistance levels from Ichimoku and act according to the actual market situation.

Currently the market is in the adjustment phase and there are no clear signals about the next trend.
The price is fluctuating around the Ichimoku cloud and the moving average, indicating instability and the need for further monitoring to determine the trend.
Indicators such as MFI and Stoch show no clear overbought or oversold conditions.
MACD is showing a slight bearish signal, but trading volume and other indicators need to be considered for confirmation.
To make investment decisions, it is necessary to further monitor further fluctuations and market news that may affect price trends.

Everyone, don't panic. $BTC will increase very quickly

2 days ago I warned everyone that $BTC would increase

Once again, I would like to reiterate that $BTC is stepping up to a new historical high...