CRYPTOVINCE - CRYPTO ANALYSIS

#BTCUSDT - 1h TF

I had this small prediction on BTC I forgot to post. Bullish Pennant breakout + re-test and continuation towards 95k.

It did 94k to 98k in only 2 hours LOL

BITCOIN smashed 95k and it's heading towards 100k 😍... Mamma mia! I don't have too much data at the moment to make predictions so let's keep an eye on the smaller TFs to see how the Market Structure behaves. Indicators are becoming overbought (especially RSI on weekly) so a correction could happen, if FOMO doesn't kick in after 100k.

Almost there... 95k prediction in just 2 weeks after breaking 74k (old ATH) ✅

(ChatGPT smarter than me 😂)

"Bitcoin is currently exhibiting strong bullish momentum, trading near historical highs. As of now, Bitcoin's price hovers around $92,000 to $94,000, close to its record high of $93,700, achieved recently. Market sentiment remains positive, driven by increased institutional adoption and the launch of new Bitcoin ETFs like BlackRock's iShares Bitcoin Trust, which has fueled optimism for continued price growth​​​​.

Key Technical Indicators:

1. Moving Averages: Bitcoin is well above the 50-day, 100-day, and 200-day moving averages, suggesting sustained bullish momentum. A recent "golden cross" indicates potential for further upside​​.


2. Relative Strength Index (RSI): The RSI is at overbought levels (~79), which could lead to short-term corrections. However, strong buying pressure may sustain the uptrend​​.


3. Support and Resistance: Immediate support lies around $80,000, with resistance at $94,000. Breaking above this level could pave the way to the psychological milestone of $100,000​​.


4. MACD: Positive MACD readings reflect strong upward momentum, reinforcing the current bullish outlook​​.



Market Drivers:

Institutional Inflows: Increased participation from institutions and the popularity of Bitcoin ETFs have strengthened the market​​.

Adoption and Sentiment: Broader adoption for payments and extreme optimism in market sentiment (as indicated by the Crypto Fear & Greed Index) are boosting demand​​.


Risks:

Overbought Conditions: Current RSI levels warn of a potential pullback if demand weakens.

Geopolitical and Regulatory Risks: Geopolitical tensions and uncertainty around regulatory developments could introduce volatility​​.


Analysts are cautiously optimistic about Bitcoin reaching $100,000 by the end of November 2024. If the price breaks past resistance at $94,000 and maintains momentum, this target is achievable. However, given inherent market volatility, investors should remain vigilant and consider the potential for corrections​​."

Even fucking XRP and LTC broke out 😂

It looks like, out of the blue, every damn ALTCOIN is breaking Bullish from 50 to 100%... I don't think there's a rule to spot which one will be next, they just randomly explode...

62% bullish - Well most of you are bullish I guess seeing the overall situation. I'm with u all. 100k next target?

My ETH prediction.

https://www.instagram.com/reel/DA4HRUmNkvY/?igsh=MXZvaDU4c2VuM2FteQ==

I find it hard to trade it when it's traveling in un-charted territories but for now let's keep a Bullish Bias and keep following the Market Structure as we always do. It took a break here and for now bears didn't do too much damage. The overall situation seems positive (Halving, US Elections, rate cuts, breaking ATH), it should keep going. 🤞

#BTCUSDT - 1h TF

https://www.tradingview.com/x/BkI5SwrF/

BITCOIN ranging between 93k (ATH) and 86k (Swing Low). I'm not sure if it will keep going or drop here because I don't have too much data or PA to help me. I would consider a LONG if it breaks supply and SHORT if it breaks demand. Simple as that.

😁😁😁😁😁

Never remove your STOP-LOSS

https://www.instagram.com/reel/C8auPACgQEv/?igsh=ZGl5OXpmd3U5eDAy

😂😂😂😂😂

https://www.instagram.com/reel/DCVKB4GxI4c/?igsh=aGpvYTJsa3lvYTJ6

Soooo many ALTCOINs breaking out with huge dildos. Check ADA and XVG.

TOTALMARKETCAP: slightly broke ATH

BITCOIN: keep an eye on the 85k swing low if that gets taken out, we might go feel the GAP around 77/80k. We need to make a higher-low in order to keep the bullish momentum. I would trade a breakout of ATH tho.