Will Bitcoin Reach $84,000 in September? Renowned Analyst Shares Insights with Charts!
#Bitcoin surged to $65,000 in futures trading, marking a high not seen in a long time, and later stabilized above $64,000 in the spot market. This price movement was heavily influenced by recent statements from the Federal Reserve, which hinted at a potential rate cut, driving the BTC price upward. This rally also positively impacted the broader market. So, what are market analysts saying now?
Bluntz, a well-known analyst, shared with his thousands of followers on X (formerly Twitter) that Bitcoin's recent breakthrough of the $62,000 resistance could signal the start of a new five-wave rally, potentially leading BTC to a new all-time high.
Using Elliott Wave theory, which predicts that bullish trends often follow a five-wave upward pattern before significant corrections, Bluntz expressed confidence: "Weâve broken out; now, we're quite certain weâll reach a new all-time high."
According to Bluntz's analysis, #Bitcoin could hit $84,000 by mid-September if the predicted movements continue. At the time of writing, Bitcoin remains strong around the $64,000 mark, having gained over 5% in the last 24 hours, a rise thought to be largely driven by Fed Chair Powell's announcement of a possible rate cut.
The analyst also commented on Solanaâs (SOL) competitor Sei, predicting a significant rise for SEI against both Bitcoin and the US dollar. "I believe #SEI is on the brink of a major breakout. The SEI/BTC pair shows a bullish trend on the weekly chart. SEI/USD has completed a clear five-wave rally from its lows and has already seen a solid pullback alongside heavy negative funding.
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đš In the past 48 hours, the market experienced a classic case of panic selling, where retail investors fell into a well-planned trap. It began with a sudden and steep market decline, fueled by fear-inducing headlines and rumors spreading rapidly across social media. Many retail investors, fearing a major market crash, rushed to sell their assets to avoid further losses.
However, what they didnât realize was that this downturn was part of a broader strategy. Institutional investors and market whales had been patiently waiting for this moment. By creating an atmosphere of fear and uncertainty, they successfully triggered a wave of panic selling among retail investors. As prices plummeted, these institutional players moved in, buying assets at a significant discount.
The outcome? While retail investors took losses by selling at the bottom, institutional investors and whales profited by acquiring valuable assets at a fraction of their true value. The market rebounded quickly after the sell-off, leaving retail investors sidelined, regretting their hasty decisions.
This event serves as a powerful reminder to stay calm and not let emotions drive trading decisions. In investing, patience and strategy are crucial, and those who maintain composure during market turbulence often emerge ahead.
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Should You Buy Bitcoin While It's Less Than $65,000?
Neil Patel, The Motley Fool
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In the five years leading up to its all-time high, Bitcoin (CRYPTO: BTC) soared 1,760% in value. But since that peak was reached in March 2024, the price has come down about 13%.
A quick 13% move might be a big deal for many stocks, but it looks kind of slow in the twitchy cryptocurrency market. Bitcoin has essentially been trading sideways for the past six or so months, as investors anxiously wait for a break-out move to happen.
Does the current setup mean you should buy Bitcoin while it's trading below $65,000?
Recent developments
To say that 2024 has so far been an eventful year for Bitcoin would be putting it lightly. Things kicked off shortly after the calendar turned to January, when the Securities and Exchange Commission approved the trading of spot Bitcoin exchange-traded funds (ETFs) in a highly anticipated move. Industry observers viewed this as the event that legitimized Bitcoin, both on Wall Street and in Washington
The ETFs provide individual and institutional investors with a convenient and regulatory-compliant method of gaining exposure to Bitcoin's price. To date, over $17 billion has flowed to the various ETF products on the market
Then, on April 19, Bitcoin underwent a halving, which cut in half the amount of Bitcoin that miners receive as a reward for securing the network and process transactions. This event happens about every four years, and it shines a spotlight on Bitcoin's pre-determined inflation rate.
In the 12 to 18 months after a halving occurs, Bitcoin has historically experienced a major bull run. Based on past performance, we are in the early stages of what could be another sizable upward trajectory
As this is a year when a presidential election takes place, Bitcoin has also received attention from a political perspective. Investors are encouraged by the possibility of either presidential candidate adopting favorable policies that further support the advancement of Bitcoin and the cryptocurrency industry
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$PEPE
PEPE/USDT: A Bullish Outlook
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Technical Analysis
The PEPE/USDT chart showcases a bullish trend, supported by several indicators:
* Price Action: The price has consistently risen, forming higher highs and higher lows, a classic sign of an uptrend.
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* Bollinger Bands: The price is currently above the upper Bollinger Band, indicating strong bullish momentum.
* RSI: The RSI is above 70, suggesting overbought conditions. However, in a strong uptrend, this can signal continued bullishness.
* Moving Averages: While not shown here, aligned moving averages (e.g., 50-day and 200-day) would further confirm the uptrend.
Price Prediction
Based on the technical analysis, PEPE/USDT has potential for further price appreciation. However, caution and risk management are essential.
* Potential Targets: Identify previous resistance levels or psychological round numbers (e.g., 0.000010, 0.000015) as potential targets.
* Fibonacci Retracements: Use Fibonacci retracements to identify potential support and resistance levels based on past price movements.
Risk Management
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* Stop-Loss Orders: Implement stop-loss orders to limit potential losses if the price reverses.
* Position Sizing: Carefully manage your position size to avoid excessive risk.
* Diversification: Consider diversifying your portfolio to reduce overall risk.
Conclusion
The PEPE/USDT chart presents a bullish outlook. However, cryptocurrency investments involve risks. By considering both technical and fundamental factors, you can make informed decisions and manage your risk effectively.
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$SUI đŽ Trade Urgent Update:
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BUY Signal
Coin: SUI
Entry Zone: 0.90 - 0.95
The price is currently in a strong demand zone, indicating a potential reversal or bullish momentum.
đŽ Stop-Loss 0.81 (10% below entry zone)
Set your stop-loss below the demand zone to limit potential losses.
Immediate Profit Target
Target 1: 1.05
This is the next resistance level where you might consider taking some profit. A breakout above this level could signal a stronger upward trend.
Additional Profit Targets
Target 2: 1.20
For long-term holders, this is an additional profit zone based on wave structure predictions. Patience is key.
Chart Insights
This chart follows an Elliot Wave structure, signaling a potential bullish continuation.
The price has tapped into a Fair Value Gap (FVG), offering a strong entry point.
â ïž Risk Management
Always use proper risk management, setting stop-losses according to your risk tolerance.
Potential pullbacks may occur, especially at major support zones.
Time Frame: 1 Hour
â ïž Not Financial Advice
This trade signal is for informational purposes only and should not be considered as investment advice. Always do your own research (DYOR) and consult with a financial advisor before making investment decisions.
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$PEPE $SUN
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BNB, the native cryptocurrency of Binance, has shown a modest increase, surpassing 590 USDT with a 0.43% gain over the past 24 hours. This upward movement reflects positive sentiment around the token, which has been experiencing fluctuations in response to broader market conditions.The slight uptick in BNB's price can be attributed to ongoing developments within the Binance ecosystem, including new product launches, partnerships, and regulatory updates. As one of the top cryptocurrencies by market capitalization, BNB's performance is closely watched by traders and investors.Despite the modest increase, BNB remains sensitive to market volatility. The token's price has seen significant movements in recent weeks, reflecting the overall uncertain sentiment in the cryptocurrency market. However, surpassing the 590 USDT mark could indicate renewed interest and confidence in BNB as Binance continues to expand its influence in the crypto space.#BNBAnalysis #BNB_Market_Update
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**Whatâs Keeping Bitcoin Stuck Between $57.5K and $62K?
**Bitcoinâs price oscillation within the $57.5K to $62K range has intrigued investors and analysts alike. Several factors contribute to this consolidation, balancing bullish optimism with cautious selling.
**1. **Support and Resistance Levels:** Technical analysis plays a crucial role in Bitcoinâs price movements. The $57.5K mark acts as a strong support level where buying interest intensifies, preventing the price from falling further. Conversely, $62K serves as a resistance level where selling pressure mounts, limiting upward movement. These psychological price points often attract traders who anticipate price reactions, reinforcing the range-bound behavior.*
*2. **Market Sentiment:** Investor sentiment oscillates between optimism and caution. Positive news, such as institutional adoption or favorable regulations, can drive prices toward the upper boundary. However, concerns over regulatory crackdowns, macroeconomic uncertainties, or market corrections trigger profit-taking and selling, capping ...
**3. **Technical Indicators:** Indicators like moving averages, Relative Strength Index (RSI), and Fibonacci retracements contribute to the price dynamics. For instance, if Bitcoin approaches a key moving average within this range, it might experience support or resistance, prompting traders to act based on these signals. Such technical cues reinforce the consolidation between $57.5K and $62K.
*4. **Trading Volume and Liquidity:** The trading volume within this range suggests a balance between buyers and sellers. High liquidity at these levels means that significant buy or sell orders are absorbed without causing drastic price movements. This equilibrium sustains the sideways trading pattern, as neither side dominates significantly.
**5. **Macro-Economic Factors:** Global economic conditions, including interest rates, inflation concerns, and geopolitical events, influence Bitcoinâs appeal as a store of value. #CryptoDecision #BitcoinTherapist #TechnicalAnalysis_Tickeron
Ethereum Foundation's $100M ETH Move: What's the Buzz? đ
The Ethereum Foundation just sent a jaw-dropping 35,000 ETH (thatâs nearly $100M) to Kraken, and the crypto world is buzzing! People are wondering what this massive transfer is all about.
Aya Miyaguchi, the foundationâs executive director, stepped in to clear the air: itâs all for annual expenses like grants and salaries. But hereâs the twistâdue to some legal hurdles, they couldnât spill the details ahead of time. And no, this isnât a fire sale; itâs all part of a carefully planned strategy.
Stay tuned, crypto fam, because this is just the beginning!
#Ethereum #CryptoNews #Binance #Blockchain #CryptoFam
đš URGENT REALITY CHECK: IT'S TIME TO REASSESS YOUR PORTFOLIO đšIn the ever-changing world of crypto, holding onto hope can sometimes be more dangerous than letting go. On Binance Square, we often see people urging others to "HODL on! This token will bounce back!"âespecially when it comes to crowd-favorites like $SHIB and $FLOKI.But hereâs the hard truth: not every crypto is destined to rebound. The voices telling you to "wait it out" often belong to those who are trying to convince themselves that their investments arenât sinking ships. They jumped in during hype-fueled rallies and are now struggling to keep afloat.The belief that "If I havenât sold, I havenât lost" can be a financial trap. If you notice one of your investments heading south with no sign of recovery, itâs time to reconsider your strategy. The crypto market is overflowing with new opportunities. Holding onto a failing asset could mean missing out on the next big wave.Think of it this way: If you had a property yielding 10% annually but were offered a new one promising 30%, would you really stick with the underperformer? Stubbornly clinging to a poor investment isn't just unwiseâit's a missed opportunity for bigger gains. Itâs okay to make mistakes. What matters is learning from them and moving forward.đĄ Pro Tip: Donât let sentimentality drain your portfolio. Keep your eyes open for fresh opportunities, and donât be afraid to cut your losses when needed.If this resonates with you, please give it a like, comment, and share with your fellow Binance users. Your support is what keeps these insights coming! And if youâre feeling generous, tips are always appreciated to help sustain these efforts. Thanks to everyone who contributes!#BinanceBlockchainWeek #CryptoWisdom #MarketInsights #PowellAtJacksonHole #BlackRockETHOptions
đ LĂN NHANH THĂ CĆšNG XUá»NG NHANH đ
Dá»± ĂĄn $ALPACA khĂŽng cĂł lá» trĂŹnh phĂĄt triá»n nĂ o má»i, hoáșĄt Äá»ng cáș§m cá»± nhiá»u nÄm qua, ngoĂ i viá»c cĂł thá» Ăąm tháș§m Äi ÄĂȘm vá»i sĂ n list giao dá»ch futures máș„y ngĂ y qua. NhĂŹn biá»u Äá» giĂĄ cĂł thá» tháș„y ALPACA ÄĂŁ chia khĂĄ nhiá»u láș§n từ Äá»nh, ÄĂĄy trÆ°á»c ÄĂł lĂ 0.1x vĂ pháșŁi máș„t nhiá»u thĂĄng má»i há»i vá» 0.3x. Tuy nhiĂȘn nay chá» cáș§n 1 tuáș§n Äá» táșĄo ÄĂĄy tháș„p nháș„t má»i thá»i ÄáșĄi 0.07x vĂ Äiá»u Äáș·c biá»t cĆ©ng chá» trong 1 tuáș§n ÄĂł Äá» báșt tÄng trá» láșĄi vĂčng 0.3x, vĂčng giĂĄ #ALPACA ÄĂŁ pháșŁi cá» gáșŻng nhiá»u thĂĄng trÆ°á»c ÄĂł má»i lĂ m ÄÆ°á»Łc. CĂąu há»i liá»u cĂł pháșŁi ÄĂąy lĂ cĂĄch lĂ m dá»n kho của team dá»± ĂĄn vĂ cĂĄc quá»č Äá» láș„y thanh khoáșŁn lĂ m dá»± ĂĄn má»i hay khĂŽng?
Náșżu nghi váș„n trĂȘn lĂ ÄĂșng thĂŹ kháșŁ nÄng ráș„t cao ALPACA lĂȘn nhanh rá»i cĆ©ng xuá»ng nhanh trong thá»i gian tá»i. Má»i ngÆ°á»i hĂŁy cĂąn nháșŻc vĂ phĂąn tĂch ká»č trÆ°á»c khi Äáș§u tÆ° Äá» trĂĄnh Äu Äá»nh trong giai ÄoáșĄn thá» trÆ°á»ng giáșŁm giĂĄ.
ChĂș Ăœ: BĂ i viáșżt lĂ gĂłc nhĂŹn cĂĄ nhĂąn, khĂŽng pháșŁi lá»i khuyĂȘn Äáș§u tÆ°. #BecomeCreator #HotTrends #MarketDownturn
Tonight, VeChain ambassador Caio Borralho (@BorralhoCaio) steps into the Octagon against Jared Cannonier at @UFC Apex in Las Vegas!
Fresh off a KO victory over Paul Craig at UFC301, @BorralhoCaio is ready for action. The VeFam is behind you, Caio!
He will also be sporting the new tokenized UFC gloves, powered by VeChain NFC chips. These blockchain-integrated gloves let fighters create exclusive content, immutably record key moments, and strengthen their bond with fans.
Let's go, Caio!
â ïž DOGE Surpasses SHIB and Rest of Meme Coins in Key Metric: Details
According to recently published data, the original meme cryptocurrency Dogecoin remains ahead of the rest of the meme coinsâ market. The key metric in which it continues to surpass them is the activity of the loyal #DOGE community on various social media platforms.
SHIB now again comes second after Dogecoin here. On Friday, the official Shiba Inu marketing lead, who prefers to call herself Lucie, shared a diagram. It shows that SHIB has regained the second place in social activity among meme cryptocurrencies. DOGE remains on the first place unsurpassed.
SHIB back to second place â đđđđđ
đž #SHIB burn rate down in red
Popular Shibburn blockchain tracker has shared that during the last 24 hours, the SHIB community has continued to transfer Shiba Inu meme coins to dead-end digital wallets. However, their activity has not been high enough to keep the daily burn rate in the green zone.
As of this writing, the burn rate reading shows minus 83.19%, while the number of meme coins destroyed during the last 24 hours comprises 4,800,831 SHIB.
So far, Shibburn has spotted seven transfers that moved nearly 5 million SHIB to unspendable blockchain addresses. The most recent of them have carried the largest amounts of SHIB out of circulation so far: 1,474,062 and 1,023,604 Shiba Inu.
Recently, the SHIB team performed a hard fork on Shibarium. As part of it, a new burn mechanism was integrated. It allows the team to automatically convert part of the gas fees on Shibarium from BONE tokens into SHIB and then burn them.
đž SHIB team shares important statement
On Friday, Lucie published a tweet to share with the community how the SHIB team evaluates projects for providing them with support or offering a partnership. The main factor here, according to the tweet, is how much value they bring onto the Shibarium chaini.e, liquidity.
Next comes respect for the Shiba Inu brand, as well as burning SHIB coins or using them in dApps to enhance adoption.
{spot}(SHIBUSDT)
{spot}(DOGEUSDT)
BREAKING UPDATE REGARDING $CRV $ORDI $MEME
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CRV (Curve) is showing strong bullish momentum. The upward trend is supported by positive alignment across the moving averages. The immediate resistance level is at $0.37. A breakout above this level could lead to continued upward momentum. Immediate support is observed at $0.35. Falling below this level could trigger a short-term correction. Consider entering a long trade above $0.37, targeting $0.39 and $0.41. For a short trade, consider entering below $0.35, targeting $0.33 and $0.31.
ORDI (Ordinals) is showing strong bullish momentum. The upward trend is supported by positive alignment across the moving averages. The immediate resistance level is at $36.00. A breakout above this level could lead to continued upward momentum. Immediate support is observed at $35.00. Falling below this level could trigger a short-term correction. Consider entering a long trade above $36.00, targeting $37.00 and $38.00. For a short trade, consider entering below $35.00, targeting $34.00 and $33.00.
MEME (Memecoin) is showing strong bullish momentum. The upward trend is supported by positive alignment across the moving averages. The immediate resistance level is at $0.013. A breakout above this level could lead to continued upward momentum. Immediate support is observed at $0.012. Falling below this level could trigger a short-term correction. Consider entering a long trade above $0.013, targeting $0.014 and $0.015. For a short trade, consider entering below $0.012, targeting $0.011 and $0.010.
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URGENT ALERT EVERYONE
đ ITâS TIME TO FACE REALITY AND CUT YOUR LOSSES
In the world of investing and trading, one of the hardest things to do is to acknowledge your losses. On Binance Square, I often come across posts urging people to "Hold on! This crypto will rebound! Just wait, itâll rise again!"âespecially regarding popular tokens like $SHIB and $FLOKI ...
Though some may not agree with me, it's essential to hear this truth: stop listening to those who tell you to hold indefinitelyâthey donât have any more insight than you do. These voices often belong to individuals trying to convince themselves that their investments arenât a lost cause, having bought into these cryptos during hype-driven rallies and are now facing the consequences.
The belief that "If I havenât sold, I havenât lost" is a dangerous misconception. If you recognize that one of your investments is failing and likely to continue declining, itâs unwise to hold onto it just because itâs currently at a loss. The market is full of new opportunities, and holding onto a sinking asset can cause you to miss out on more promising ones.
Consider this analogy: If you own a property yielding 10% annually, but are offered another property with a 30% return, would you turn down the new opportunity simply because your current investment is underperforming? Holding onto a poor investment out of stubbornness is both unproductive and a missed opportunity for greater gains. Acknowledge your mistake, learn from it, and move forward.This post reflects my personal opinion.
Thank you for taking the time to read. If you found this advice helpful, please like, comment, and share this post. Your support means a lot, and it helps me continue to educate others about the crypto market. Tips are also appreciated as they help sustain these efforts. Many thanks to those who contribute.
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