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šø #MicroStrategyOrange Expands Bitcoin Holdings to $14.14 Billion with Latest Purchase $BTC
š¼ MicroStrategy, the business intelligence firm led by CEO #MichaelSaylorBTC Saylor, has significantly increased its Bitcoin holdings, adding approximately 18,300 $BTC to its portfolio between August 6 and September 12, 2024. This latest acquisition, valued at $1.11 billion, was made at an average price of $60,408 per Bitcoin, including fees and expenses. The purchase brings MicroStrategy's total #bitcoinetfdaynewsupdate holdings to around 244,800 BTC, currently worth an estimated $14.14 billion.
ā¹ļø To fund this substantial Bitcoin purchase, MicroStrategy sold over 8 million company shares through a sales agreement with various financial institutions, raising approximately $1.11 billion. This move underscores the company's continued commitment to its Bitcoin-focused strategy, which has seen its stock value rise by about 1,000% since August 2020, outperforming the S&P 500 index by more than 16 times over the same period.
Despite ongoing debates about this aggressive approach, MicroStrategy's average purchase price for Bitcoin since 2020 stands at $38,585 per BTC, representing a significant unrealized profit given current market prices.
š¼ MicroStrategy, the business intelligence firm led by CEO #MichaelSaylorBTC Saylor, has significantly increased its Bitcoin holdings, adding approximately 18,300 $BTC to its portfolio between August 6 and September 12, 2024. This latest acquisition, valued at $1.11 billion, was made at an average price of $60,408 per Bitcoin, including fees and expenses. The purchase brings MicroStrategy's total #bitcoinetfdaynewsupdate holdings to around 244,800 BTC, currently worth an estimated $14.14 billion.
ā¹ļø To fund this substantial Bitcoin purchase, MicroStrategy sold over 8 million company shares through a sales agreement with various financial institutions, raising approximately $1.11 billion. This move underscores the company's continued commitment to its Bitcoin-focused strategy, which has seen its stock value rise by about 1,000% since August 2020, outperforming the S&P 500 index by more than 16 times over the same period.
Despite ongoing debates about this aggressive approach, MicroStrategy's average purchase price for Bitcoin since 2020 stands at $38,585 per BTC, representing a significant unrealized profit given current market prices.
Spot Bitcoin ETFs Gaining Momentum: Bitcoin ETFs continue to see robust inflows, highlighting increasing mainstream adoption. BlackRock's IBIT is leading with $870 million in daily inflows, marking a historic milestone for spot Bitcoin ETFs#bitcoinetfdaynewsupdate
$BTC > #bitcoin modernize
All the supply will be griped sooner rather than later
it's an opportunity to pile up #btc for long and mid term.
#BitcoinTherapist #bitcoināļø #bitcoinetfdaynewsupdate
All the supply will be griped sooner rather than later
it's an opportunity to pile up #btc for long and mid term.
#BitcoinTherapist #bitcoināļø #bitcoinetfdaynewsupdate
The growth of derivatives markets is significantly enhancing Bitcoinās trading landscape, bringing new levels of depth and liquidity. This weekās surge in Open Interest, reaching a record $32.9 billion across perpetual and fixed-term futures contracts, marks a substantial increase in leverage and demonstrates heightened activity in advanced trading and hedging strategies. Such an uptrend indicates that more investors are willing to engage in leveraged positions, reflecting both increased confidence in the assets potential and an appetite for sophisticated market exposure. This expansion not only contributes to Bitcoinās maturation but also introduces additional volatility and complexity, necessitating careful risk management from market participants.
#bitcoinetfdaynewsupdate
#bitcoinlowmarket
#ETHBTCNewLow
#EthereumPectraUpgrade
#TeslaBTCQ3HoldingsStable
š“ BREAKING NEWS:
ā¢ The People's Bank of China's gold reserves hit a record high of 73.6 million fine troy ounces in February.
ā¢ China purchased approximately 160,000 ounces of gold last month, marking its fourth consecutive month of purchases.
ā¬ ļø Central banks continue to hoard gold as if we were in a crisis.
#CryptoAMA #GOLD_UPDATE #StocksDown #bitcoinetfdaynewsupdate #MicroStrategyAcquiresBTC
ā¢ The People's Bank of China's gold reserves hit a record high of 73.6 million fine troy ounces in February.
ā¢ China purchased approximately 160,000 ounces of gold last month, marking its fourth consecutive month of purchases.
ā¬ ļø Central banks continue to hoard gold as if we were in a crisis.
#CryptoAMA #GOLD_UPDATE #StocksDown #bitcoinetfdaynewsupdate #MicroStrategyAcquiresBTC
š„ Bitcoin spot #ETF saw a net inflow of $397 million š last week. Led by Fidelity ETF FBTC with $138 million and ARK 21Shares Bitcoin ETF AKRB with $102 million.
#bitcoinangles #bitcoinetfdaynewsupdate #BitcoinBeliever #BitcoinCyclePeak #Bitcoinarena
#bitcoinangles #bitcoinetfdaynewsupdate #BitcoinBeliever #BitcoinCyclePeak #Bitcoinarena
šØšØ JUST IN : Forbes is reporting leaked clips from an upcoming HBO Bitcoinš° documentary that Peter Todd as Satoshi Nakamoto.
#Bitcoin #BitcoinTherapist #bitcoinangles #bitcoinetfdaynewsupdate #BitcoinBeliever
#Bitcoin #BitcoinTherapist #bitcoinangles #bitcoinetfdaynewsupdate #BitcoinBeliever
šŗšø **US Spot Bitcoin ETF Balances Surge!** š
Spot Bitcoin ETF balances have reached a new all-time high, surpassing **900,636 BTC**! š° This milestone reflects growing institutional interest and confidence in Bitcoin.
**What This Means:**
- **Increased Institutional Adoption**: The record high indicates significant investment from institutional players.
- **Market Confidence**: A higher ETF balance often suggests strong market confidence in Bitcoin's long-term value.
- **Potential Price Impact**: Increased ETF holdings can influence Bitcoin's price and liquidity.
Stay tuned and keep an eye on market trends as Bitcoin continues to gain traction in traditional finance! š
#Write2Earn! #BTC #CryptoNewsšš„ #bitcoinetfdaynewsupdate
$BTC
Spot Bitcoin ETF balances have reached a new all-time high, surpassing **900,636 BTC**! š° This milestone reflects growing institutional interest and confidence in Bitcoin.
**What This Means:**
- **Increased Institutional Adoption**: The record high indicates significant investment from institutional players.
- **Market Confidence**: A higher ETF balance often suggests strong market confidence in Bitcoin's long-term value.
- **Potential Price Impact**: Increased ETF holdings can influence Bitcoin's price and liquidity.
Stay tuned and keep an eye on market trends as Bitcoin continues to gain traction in traditional finance! š
#Write2Earn! #BTC #CryptoNewsšš„ #bitcoinetfdaynewsupdate
$BTC
On October 4, Bitcoin spot ETF had a net inflow of $25.5859 million, Grayscale ETF GBTC had an outflow of $13.9096 million, Bitwise ETF BITB had an inflow of $15.2854 million, and Fidelity ETF FBTC had an inflow of $13.6262 million. Ethereum spot ETF had a total net outflow of $3.1955 million.
#bitcoinetfdaynewsupdate #BitcoinBeliever #BitcoinCyclePeak #Bitcoinarena #Bitcoinā
#bitcoinetfdaynewsupdate #BitcoinBeliever #BitcoinCyclePeak #Bitcoinarena #Bitcoinā
Bitcoin Weekly Report šŖ
Bitcoin / USDT
Weekly Report
š¹Price is expected to move inside the range now.
Upper range ā”ļø 60300$
Lower range ā”ļø 59400$
š¹Once Price breaks this range a big move will come.
š¹The most expected move is 61000$ā
š¹So we will try to find a good long position so that price can hit our 61000$ target.
How to take longĀ ????
š¹If price breaks 60300$ level we can open long position.
š¹If price test 59500$ level and bounce we can take a long.
š¹In both cases target can be 61000$ā
Liqudity Present at 61300$.
š¹There is a hug chunk liquidity present at 61300$ that is going to be the next target.
š¹Wednesday we have FOMC where fed will announce rate cut.
š¹This is first time FED is going to rate cut a since nov 2021.
š¹0.25% rate cut is expected which is a bullish news for market.
š¹But marketmaker can still play with us.
š¹So our ultimate target for this week is 61000$ā
$BTC
Bearish scenario
š¹This is less likely to follow but If price breaks the range below 59k level we can see a fall upto 56500$ā
Staty Tuned.
#btc #bitcoin #bitcoinetfdaynewsupdate #bitcoin #Write2Earn! #Cryptowithvirat
Weekly Report
š¹Price is expected to move inside the range now.
Upper range ā”ļø 60300$
Lower range ā”ļø 59400$
š¹Once Price breaks this range a big move will come.
š¹The most expected move is 61000$ā
š¹So we will try to find a good long position so that price can hit our 61000$ target.
How to take longĀ ????
š¹If price breaks 60300$ level we can open long position.
š¹If price test 59500$ level and bounce we can take a long.
š¹In both cases target can be 61000$ā
Liqudity Present at 61300$.
š¹There is a hug chunk liquidity present at 61300$ that is going to be the next target.
š¹Wednesday we have FOMC where fed will announce rate cut.
š¹This is first time FED is going to rate cut a since nov 2021.
š¹0.25% rate cut is expected which is a bullish news for market.
š¹But marketmaker can still play with us.
š¹So our ultimate target for this week is 61000$ā
$BTC
Bearish scenario
š¹This is less likely to follow but If price breaks the range below 59k level we can see a fall upto 56500$ā
Staty Tuned.
#btc #bitcoin #bitcoinetfdaynewsupdate #bitcoin #Write2Earn! #Cryptowithvirat
Why Bitcoin is Up Today
The current price of Bitcoin stands at $66,000, and there are several key factors contributing to this bullish momentum. Investors remain optimistic about Chinaās economic policies, particularly their stimulus measures. While China is increasing debt to bolster its economy, there is no significant shift of capital from cryptocurrencies to Chinese equities. Instead, investors continue to see Bitcoin as a hedge against economic uncertainty, which strengthens confidence in the cryptocurrency market.
Institutional and retail interest in Bitcoin has surged with the approval of spot Bitcoin ETFs in the U.S. These ETFs provide a more secure and regulated way for traditional investors to gain exposure to Bitcoin, leading to a steady inflow of capital into the market. The broader accessibility of Bitcoin has helped push its price higher, attracting investors who were previously cautious due to the complexities of directly owning cryptocurrencies.
Market sentiment also plays a significant role in Bitcoinās current price trajectory. Speculation about Bitcoinās value as a store of value and discussions around it being digital gold have contributed to positive momentum. Additionally, large movements by whales and shifts in stablecoin liquidity have influenced price trends, while short liquidations have led to temporary price spikes as traders cover their positions.
Lastly, broader global economic factors, such as potential Federal Reserve rate cuts and inflation concerns, further boost Bitcoinās appeal as an alternative investment. These conditions foster a favorable environment for Bitcoinās continued growth, but its inherent volatility means that market dynamics can shift swiftly.
$BTC #BTCBreaks66K #BTCUptober #Bitcoin #bitcoinetfdaynewsupdate #bitcoinnewsupdate
Institutional and retail interest in Bitcoin has surged with the approval of spot Bitcoin ETFs in the U.S. These ETFs provide a more secure and regulated way for traditional investors to gain exposure to Bitcoin, leading to a steady inflow of capital into the market. The broader accessibility of Bitcoin has helped push its price higher, attracting investors who were previously cautious due to the complexities of directly owning cryptocurrencies.
Market sentiment also plays a significant role in Bitcoinās current price trajectory. Speculation about Bitcoinās value as a store of value and discussions around it being digital gold have contributed to positive momentum. Additionally, large movements by whales and shifts in stablecoin liquidity have influenced price trends, while short liquidations have led to temporary price spikes as traders cover their positions.
Lastly, broader global economic factors, such as potential Federal Reserve rate cuts and inflation concerns, further boost Bitcoinās appeal as an alternative investment. These conditions foster a favorable environment for Bitcoinās continued growth, but its inherent volatility means that market dynamics can shift swiftly.
$BTC #BTCBreaks66K #BTCUptober #Bitcoin #bitcoinetfdaynewsupdate #bitcoinnewsupdate
Bitcoin preparing for that $100k mark
#BTC100k #bitcoināļø #BTC100K! #bitcoinnewsupdate #bitcoinetfdaynewsupdate
#BTC100k #bitcoināļø #BTC100K! #bitcoinnewsupdate #bitcoinetfdaynewsupdate
šØ Bloomberg Strategist Warns: Bitcoin Could Collapse to $10,000! šš„
$BTC
#CryptoAMA #BTCčµ°åæåę #bitcoinetfdaynewsupdate #BitcoinBeliever #BitcoinCyclePeak
$BTC
#CryptoAMA #BTCčµ°åæåę #bitcoinetfdaynewsupdate #BitcoinBeliever #BitcoinCyclePeak
š Urgent:
āŖļøBitcoin resumes its decline during Wednesday's session, falling 3% or more than $2.5 thousand to levels below $86 thousand
āŖļøBitcoin's losses coincide with a state of trade uncertainty amid Trump's threats of tariffs.
#Bitcoin #BitcoinTherapist #bitcoinangles #bitcoinetfdaynewsupdate #BitcoinBeliever
āŖļøBitcoin resumes its decline during Wednesday's session, falling 3% or more than $2.5 thousand to levels below $86 thousand
āŖļøBitcoin's losses coincide with a state of trade uncertainty amid Trump's threats of tariffs.
#Bitcoin #BitcoinTherapist #bitcoinangles #bitcoinetfdaynewsupdate #BitcoinBeliever
Stocks, gold and Bitcoin indices fell collectively today as markets opened this week, with investors avoiding risk awaiting Trump's new foreign policy decisions, in addition to waiting for the US Federal Reserve's interest rate decision this week.
#CryptoAMA #GOLD_UPDATE #StocksDown #bitcoinetfdaynewsupdate #BitcoinBeliever
#CryptoAMA #GOLD_UPDATE #StocksDown #bitcoinetfdaynewsupdate #BitcoinBeliever
Satoshi No Longer Leading Bitcoin Holder
According to data provided by Eric Balchunas, one of the leading ETF analysts, US-based spot Bitcoin ETFs have now surpassed Satoshi Nakamoto as the top holders of the largest cryptocurrency.
After the most recent update, these products hold a total of 1.104 million BTC. For comparison, Satoshi's Bitcoin holdings stand at an estimated 1.1 million. Blachunas described the milestone as "mindblowing," noting that these products were launched less than a year ago. BlackRock's IBIT alone has now surpassed $50 billion in total assets, substantially outperforming other ETFs. As reported by U.Today, Balchunas has predicted that IBIT could become the sole biggest holder of Bitcoin in 2025. Cryptocurrency giant Binance, business intelligence firm MicroStrategy, and the US government are also among the top five biggest Bitcoin holders. While Satoshi remains in second place, it should be noted that their total Bitcoin holdings are hard to ascertain. Chainalysis, the most prominent blockchain sleuth, estimated that Satoshi owns 1.124 million BTC across a total of 36,000 wallets. If this estimate is accurate, this means that Satoshi remains the latest Bitcoin holder (at least for now). Moreover, there could be additional wallets that were not taken into account by Chainalysis. That said, it is unlikely that Satoshi is going to touch their wallets again. As reported by U.Today, Galaxy Digital CEO Mike Novogratz recently argued that the Bitcoin founder is no longer alive.
There is also some speculation about whether the Bitcoin creator has a dead manās switch that could possibly allow transferring their vast fortune to their loved ones. Despite not being active online for over a decade, this mysterious figure continues to have significant influence within the community, and Satoshi's sudden reappearance could have dramatic impact on the price of Bitcoin.
#ETHCrosses4K #bitcoinetfdaynewsupdate #TrendingBinance
After the most recent update, these products hold a total of 1.104 million BTC. For comparison, Satoshi's Bitcoin holdings stand at an estimated 1.1 million. Blachunas described the milestone as "mindblowing," noting that these products were launched less than a year ago. BlackRock's IBIT alone has now surpassed $50 billion in total assets, substantially outperforming other ETFs. As reported by U.Today, Balchunas has predicted that IBIT could become the sole biggest holder of Bitcoin in 2025. Cryptocurrency giant Binance, business intelligence firm MicroStrategy, and the US government are also among the top five biggest Bitcoin holders. While Satoshi remains in second place, it should be noted that their total Bitcoin holdings are hard to ascertain. Chainalysis, the most prominent blockchain sleuth, estimated that Satoshi owns 1.124 million BTC across a total of 36,000 wallets. If this estimate is accurate, this means that Satoshi remains the latest Bitcoin holder (at least for now). Moreover, there could be additional wallets that were not taken into account by Chainalysis. That said, it is unlikely that Satoshi is going to touch their wallets again. As reported by U.Today, Galaxy Digital CEO Mike Novogratz recently argued that the Bitcoin founder is no longer alive.
There is also some speculation about whether the Bitcoin creator has a dead manās switch that could possibly allow transferring their vast fortune to their loved ones. Despite not being active online for over a decade, this mysterious figure continues to have significant influence within the community, and Satoshi's sudden reappearance could have dramatic impact on the price of Bitcoin.
#ETHCrosses4K #bitcoinetfdaynewsupdate #TrendingBinance
šØBitcoin up or down ? šØ
There are some factors that i would consider .
Bitcoin dominance
Usdt dominance
Dollar index
Spx
Overall sentiments
Bitcoin dominance is not that important as what matters is the overall market cap.
Currenctly the usdt dominance is very close to the higher time frame support area.
Which means if it moves up to touch the resistance there will be a blood bath.
Dolar index is at highs if it drops we will see crypto market rising .
Spx is also rising
Psychological point :
Market at top , there would be alot of people selling at the highs again
And the buyers are super greedy now.
Technical stuff :
Btc create a new high at 74k areas and was rejected
Which means a newly made resistance for the bitcoin.
I think it will touch the highs again and then we will see if it goes side ways or creates a top wick and come back down.
Right now bitcoin holding 60k areas which is a good sign but considering the other factors that i mentioned on top this is not a good time to trade with over leverage, secondly not a good time to hold coins in spot thinking of a start of bulll market .
Please give me your valuable suggestions too. $BTC $ETH #bitcoināļø #Bitcoinā #bitcoinetfdaynewsupdate
There are some factors that i would consider .
Bitcoin dominance
Usdt dominance
Dollar index
Spx
Overall sentiments
Bitcoin dominance is not that important as what matters is the overall market cap.
Currenctly the usdt dominance is very close to the higher time frame support area.
Which means if it moves up to touch the resistance there will be a blood bath.
Dolar index is at highs if it drops we will see crypto market rising .
Spx is also rising
Psychological point :
Market at top , there would be alot of people selling at the highs again
And the buyers are super greedy now.
Technical stuff :
Btc create a new high at 74k areas and was rejected
Which means a newly made resistance for the bitcoin.
I think it will touch the highs again and then we will see if it goes side ways or creates a top wick and come back down.
Right now bitcoin holding 60k areas which is a good sign but considering the other factors that i mentioned on top this is not a good time to trade with over leverage, secondly not a good time to hold coins in spot thinking of a start of bulll market .
Please give me your valuable suggestions too. $BTC $ETH #bitcoināļø #Bitcoinā #bitcoinetfdaynewsupdate
$BTC
#bitcoinetfdaynewsupdate
Introduction to Bitcoin's Recent Price Surge
Bitcoin is making waves again within the cryptocurrency world with its recent charge surge. Investors and enthusiasts are excited to see the virtual foreign money again at the rise after a length of fluctuation.
Factors Driving Bitcoin's Price Increase
There are numerous key factors at the back of Bitcoin's modern day price surge which can be really worth thinking about. From increased institutional interest to marketplace speculation, numerous factors are influencing the cryptocurrency's value.
Increased Institutional Interest
Big gamers in the financial global are beginning to take be aware of Bitcoin, with establishments like Tesla and PayPal embracing the virtual currency. This newfound interest is boosting confidence in Bitcoin's potential as a mainstream asset.
Diversification and Risk Management
Diversifying your funding portfolio beyond Bitcoin and implementing hazard management strategies can assist cushion the effect of market fluctuations and defend your capital in turbulent instances
Long-Term Investment Approaches
Taking an extended-time period view of your investment in Bitcoin can assist journey out brief-term volatility and consciousness on the asset's boom ability over time. Strategic making plans and patience are critical for traders navigating the rollercoaster trip of the crypto market.As Bitcoin continues to raise once more, it stays a dynamic and evolving asset that sparks both excitement and warning in the economic world. Whether it is the institutional interest propelling its fee or the regulatory panorama shaping its future, one aspect is positive - the adventure of Bitcoin's resurgence is full of opportunities and challenges. By staying knowledgeable, navigating risks accurately, and adopting strategic procedures, buyers can function themselves to trip the waves of Bitcoin's volatility and doubtlessly reap the rewards of its ongoing .....
Disclaimer: dont listen to anyone, find the real expert then get his opinions
#LikeShareFollow
#bitcoinetfdaynewsupdate
Introduction to Bitcoin's Recent Price Surge
Bitcoin is making waves again within the cryptocurrency world with its recent charge surge. Investors and enthusiasts are excited to see the virtual foreign money again at the rise after a length of fluctuation.
Factors Driving Bitcoin's Price Increase
There are numerous key factors at the back of Bitcoin's modern day price surge which can be really worth thinking about. From increased institutional interest to marketplace speculation, numerous factors are influencing the cryptocurrency's value.
Increased Institutional Interest
Big gamers in the financial global are beginning to take be aware of Bitcoin, with establishments like Tesla and PayPal embracing the virtual currency. This newfound interest is boosting confidence in Bitcoin's potential as a mainstream asset.
Diversification and Risk Management
Diversifying your funding portfolio beyond Bitcoin and implementing hazard management strategies can assist cushion the effect of market fluctuations and defend your capital in turbulent instances
Long-Term Investment Approaches
Taking an extended-time period view of your investment in Bitcoin can assist journey out brief-term volatility and consciousness on the asset's boom ability over time. Strategic making plans and patience are critical for traders navigating the rollercoaster trip of the crypto market.As Bitcoin continues to raise once more, it stays a dynamic and evolving asset that sparks both excitement and warning in the economic world. Whether it is the institutional interest propelling its fee or the regulatory panorama shaping its future, one aspect is positive - the adventure of Bitcoin's resurgence is full of opportunities and challenges. By staying knowledgeable, navigating risks accurately, and adopting strategic procedures, buyers can function themselves to trip the waves of Bitcoin's volatility and doubtlessly reap the rewards of its ongoing .....
Disclaimer: dont listen to anyone, find the real expert then get his opinions
#LikeShareFollow
Bitcoin (BTC) to Skyrocket If This
'Cup and Handle' Pattern Plays Out
$BTC $BTC #
As of right now, Bitcoin is forming a
bullish technical pattern known as the cup
and handle, which has historically been
a sign of major price increases. Bitcoin
might be about to see a huge surge that
could push its price well over $100,000 if
this pattern holds true.
The cup and handle pattern is widely
acknowledged for its consistent ability to
indicate positive trends. A smaller period
of consolidation forms the handle after
the price first declines and then gradually
recovers to form a cup shape. The price
usually experiences a significant upward
movement after breaking out above the
resistance level at the top of the handle.
8 BTCUSDT Chart by TradingView
As of now, it seems that Bitcoin is
finishing up the handle formation. Traders
are waiting for a breakout that could
validate the pattern, as the price has
been accumulating just below a sizable
resistance zone. The measured move
indicates a potential target well above
$100,000 for Bitcoin if it can break above
this resistance.
Notably, though, a fundamental increase
in the price of Bitcoin is probably required
for this pattern to fully materialize.
Although strong signals can be obtained
from technical patterns, they are
frequently triggered by other factors like
market sentiment, macroeconomic events or noteworthy news in the cryptocurrency world.
The next big bull run for Bitcoin might
need to be sparked by a post-halving
boost, which has historically given
the cryptocurrency significant upward
momentum. Historically, there have
been notable price increases during the
post-halving period, which is currently
the case with Bitcoin. The scarcity that
results from fewer new Bitcoins coming
onto the market frequently pushes prices
higher. This could pave the way for an
enormous increase in the price of Bitcoin
when combined with the bullish cup and
handle pattern.
#MtGoxRepayments #BinanceLaunchpoolDOGS #bitcoināļø #bitcoinetfdaynewsupdate
'Cup and Handle' Pattern Plays Out
$BTC $BTC #
As of right now, Bitcoin is forming a
bullish technical pattern known as the cup
and handle, which has historically been
a sign of major price increases. Bitcoin
might be about to see a huge surge that
could push its price well over $100,000 if
this pattern holds true.
The cup and handle pattern is widely
acknowledged for its consistent ability to
indicate positive trends. A smaller period
of consolidation forms the handle after
the price first declines and then gradually
recovers to form a cup shape. The price
usually experiences a significant upward
movement after breaking out above the
resistance level at the top of the handle.
8 BTCUSDT Chart by TradingView
As of now, it seems that Bitcoin is
finishing up the handle formation. Traders
are waiting for a breakout that could
validate the pattern, as the price has
been accumulating just below a sizable
resistance zone. The measured move
indicates a potential target well above
$100,000 for Bitcoin if it can break above
this resistance.
Notably, though, a fundamental increase
in the price of Bitcoin is probably required
for this pattern to fully materialize.
Although strong signals can be obtained
from technical patterns, they are
frequently triggered by other factors like
market sentiment, macroeconomic events or noteworthy news in the cryptocurrency world.
The next big bull run for Bitcoin might
need to be sparked by a post-halving
boost, which has historically given
the cryptocurrency significant upward
momentum. Historically, there have
been notable price increases during the
post-halving period, which is currently
the case with Bitcoin. The scarcity that
results from fewer new Bitcoins coming
onto the market frequently pushes prices
higher. This could pave the way for an
enormous increase in the price of Bitcoin
when combined with the bullish cup and
handle pattern.
#MtGoxRepayments #BinanceLaunchpoolDOGS #bitcoināļø #bitcoinetfdaynewsupdate
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