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BTC shall continue be bearish to below $90K
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Donald Trump's recent rhetoric around cryptocurrency and decentralization suggests a more favorable stance than during his presidency, where he expressed skepticism toward Bitcoin and other digital assets. His current ambitions, if reelected, include:
1. Regulatory Reforms: Trump has vowed to dismantle initiatives like "Operation Chokepoint 2.0," appoint a crypto advisory council, and introduce frameworks for stablecoins. He also plans to block the development of a U.S. central bank digital currency (CBDC) and streamline regulations favorable to the crypto industry.
2. Focus on Domestic Bitcoin Mining: Trump has expressed a desire for all Bitcoin mining to occur in the United States, emphasizing self-reliance. However, experts note the impracticality of this idea due to the global nature of Bitcoin mining.
3. Personnel Changes: He has pledged to replace SEC Chair Gary Gensler, citing dissatisfaction with the current regulatory crackdown on crypto firms. This promise aligns with broader industry calls for regulatory clarity and support.
4. Potential Influence from Allies: Some experts speculate that figures like Vivek Ramaswamy, a pro-crypto advocate and potential running mate, may influence Trump’s crypto policies. Ramaswamy's understanding and support for digital assets could shape a more favorable environment.
Despite these promises, Trump's actions during his previous term did not prioritize crypto, and critics caution that his rhetoric might not align with actionable policy. Many of these goals would require Congressional support, and achieving them could face significant legal and logistical hurdles.
1. Regulatory Reforms: Trump has vowed to dismantle initiatives like "Operation Chokepoint 2.0," appoint a crypto advisory council, and introduce frameworks for stablecoins. He also plans to block the development of a U.S. central bank digital currency (CBDC) and streamline regulations favorable to the crypto industry.
2. Focus on Domestic Bitcoin Mining: Trump has expressed a desire for all Bitcoin mining to occur in the United States, emphasizing self-reliance. However, experts note the impracticality of this idea due to the global nature of Bitcoin mining.
3. Personnel Changes: He has pledged to replace SEC Chair Gary Gensler, citing dissatisfaction with the current regulatory crackdown on crypto firms. This promise aligns with broader industry calls for regulatory clarity and support.
4. Potential Influence from Allies: Some experts speculate that figures like Vivek Ramaswamy, a pro-crypto advocate and potential running mate, may influence Trump’s crypto policies. Ramaswamy's understanding and support for digital assets could shape a more favorable environment.
Despite these promises, Trump's actions during his previous term did not prioritize crypto, and critics caution that his rhetoric might not align with actionable policy. Many of these goals would require Congressional support, and achieving them could face significant legal and logistical hurdles.
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if you understand the formula 📈📉
We still have a bit drop of $BTC to $91K before it goes up so those who are buying now or bought after hitting 99K were liquidated
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In my BTC/USD analysis:
1. Weak High: This indicates a high probability of the market breaking the highlighted weak high, as weak highs are often targeted for liquidity grabs.
2. Order Block: The yellow zone represents an order block, marking a potential entry point. The price has approached this area and shows signs of rejection, signaling a possible bullish continuation.
3. BOS (Break of Structure): The BOS confirms a shift in market structure to bullish momentum, suggesting further upside potential.
4. Target: The level at $103,538 is marked as the initial target for this bullish setup, with further moves possibly aiming for higher levels, such as $106,000 or $108,000.
Message for the Binance Community: For those monitoring the markets, this analysis highlights bullish momentum in BTC/USD. Follow Richard Patrick, a skilled trader providing in-depth market insights. Check out his TradingView profile for more updates and trading strategies.
Keep up the great work with regular updates!
1. Weak High: This indicates a high probability of the market breaking the highlighted weak high, as weak highs are often targeted for liquidity grabs.
2. Order Block: The yellow zone represents an order block, marking a potential entry point. The price has approached this area and shows signs of rejection, signaling a possible bullish continuation.
3. BOS (Break of Structure): The BOS confirms a shift in market structure to bullish momentum, suggesting further upside potential.
4. Target: The level at $103,538 is marked as the initial target for this bullish setup, with further moves possibly aiming for higher levels, such as $106,000 or $108,000.
Message for the Binance Community: For those monitoring the markets, this analysis highlights bullish momentum in BTC/USD. Follow Richard Patrick, a skilled trader providing in-depth market insights. Check out his TradingView profile for more updates and trading strategies.
Keep up the great work with regular updates!
The BTC/USDT chart highlights strong bullish momentum, signaling a possible continuation of the current uptrend. Here's the detailed analysis and projection:
1. Price Movement and Trend:
Current Price: 99,100.17 USDT, showing a +4.49% increase in the last 24 hours.
24H High/Low: The price has reached 99,190.00, just below its intraday high, suggesting continued upward pressure.
Moving Averages:
MA(7): 76,860.84
MA(25): 66,249.17
MA(99): 45,069.12
These moving averages indicate a solid uptrend, with the price significantly above all key levels.
2. RSI:
RSI(6): 90.50: This shows overbought conditions, but in strong bull markets, such levels can persist, signaling continued buying interest.
3. Volume:
Substantial 24H volume of 69,426.65 BTC, confirming strong market activity and trader confidence in the rally.
4. Bullish Sentiment:
The recent breakout and strong momentum suggest BTC could extend its rally. If the current pace continues, the price might test $120,000 before January 2024, driven by high market enthusiasm and increased institutional participation.
5. Projection:
The psychological resistance at $100,000 is key. Once surpassed, the next target could be $110,000, followed by $120,000, supported by strong momentum and high trading volumes.
Call to Action: If you're excited about the BTC bull run and want more insights, make sure to follow Richard Patrick, one of Tanzania's top traders, for expert market analysis and strategies!
1. Price Movement and Trend:
Current Price: 99,100.17 USDT, showing a +4.49% increase in the last 24 hours.
24H High/Low: The price has reached 99,190.00, just below its intraday high, suggesting continued upward pressure.
Moving Averages:
MA(7): 76,860.84
MA(25): 66,249.17
MA(99): 45,069.12
These moving averages indicate a solid uptrend, with the price significantly above all key levels.
2. RSI:
RSI(6): 90.50: This shows overbought conditions, but in strong bull markets, such levels can persist, signaling continued buying interest.
3. Volume:
Substantial 24H volume of 69,426.65 BTC, confirming strong market activity and trader confidence in the rally.
4. Bullish Sentiment:
The recent breakout and strong momentum suggest BTC could extend its rally. If the current pace continues, the price might test $120,000 before January 2024, driven by high market enthusiasm and increased institutional participation.
5. Projection:
The psychological resistance at $100,000 is key. Once surpassed, the next target could be $110,000, followed by $120,000, supported by strong momentum and high trading volumes.
Call to Action: If you're excited about the BTC bull run and want more insights, make sure to follow Richard Patrick, one of Tanzania's top traders, for expert market analysis and strategies!
1. Current Price and Trend:
Price: BTC is trading at 98,372.03 USDT, showing a +5.57% increase in the last 24 hours.
24H High/Low: The high is 98,384.86, and the low is 92,808.00, indicating significant volatility.
The price is near the 24H high, suggesting bullish momentum.
2. Indicators:
Moving Averages (MA):
MA(7): 97,441.32 - Price is above this short-term average, confirming a strong uptrend.
MA(25): 95,309.12 - Price is also above this medium-term average, reinforcing bullish sentiment.
MA(99): 92,370.88 - The long-term average is significantly below the current price, supporting a long-term upward trajectory.
Relative Strength Index (RSI):
RSI(6): 85.38 - Indicates overbought conditions, suggesting that a short-term correction could occur.
3. Volume:
High trading volume of 59,906.65 BTC and 5.71 billion USDT in the last 24 hours. This aligns with the bullish momentum and confirms strong market participation.
4. Technical Signals:
Candlestick Pattern: Recent candles are predominantly green, with strong upward wicks, indicating buying pressure.
Support and Resistance:
Support: Around 96,147.65 (previous consolidation area).
Resistance: The price is testing the 98,384.86 level. A breakout above this could signal further upward movement.
5. Potential Strategy:
For Buyers: If the price breaks above the 24H high with strong volume, it could indicate further bullish continuation. A pullback to support near MA(7) could also be an entry point.
For Sellers: Given the overbought RSI, a reversal or correction is possible. Setting a stop-loss just above the resistance level is advisable.
Conclusion:
The chart suggests strong bullish momentum in the short term, supported by high volume and upward-moving averages. However, caution is advised due to the overbought RSI, which signals a potential short-term pullback.
Price: BTC is trading at 98,372.03 USDT, showing a +5.57% increase in the last 24 hours.
24H High/Low: The high is 98,384.86, and the low is 92,808.00, indicating significant volatility.
The price is near the 24H high, suggesting bullish momentum.
2. Indicators:
Moving Averages (MA):
MA(7): 97,441.32 - Price is above this short-term average, confirming a strong uptrend.
MA(25): 95,309.12 - Price is also above this medium-term average, reinforcing bullish sentiment.
MA(99): 92,370.88 - The long-term average is significantly below the current price, supporting a long-term upward trajectory.
Relative Strength Index (RSI):
RSI(6): 85.38 - Indicates overbought conditions, suggesting that a short-term correction could occur.
3. Volume:
High trading volume of 59,906.65 BTC and 5.71 billion USDT in the last 24 hours. This aligns with the bullish momentum and confirms strong market participation.
4. Technical Signals:
Candlestick Pattern: Recent candles are predominantly green, with strong upward wicks, indicating buying pressure.
Support and Resistance:
Support: Around 96,147.65 (previous consolidation area).
Resistance: The price is testing the 98,384.86 level. A breakout above this could signal further upward movement.
5. Potential Strategy:
For Buyers: If the price breaks above the 24H high with strong volume, it could indicate further bullish continuation. A pullback to support near MA(7) could also be an entry point.
For Sellers: Given the overbought RSI, a reversal or correction is possible. Setting a stop-loss just above the resistance level is advisable.
Conclusion:
The chart suggests strong bullish momentum in the short term, supported by high volume and upward-moving averages. However, caution is advised due to the overbought RSI, which signals a potential short-term pullback.