btcupdates2024

- $Bitcoin just broke past $64K! 👀 👀 👀
- Where are we heading next?........ Let’s Go 🚀🚀🚀
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Bitcoin faces a volatile trip among shifting liquidity conditions, with bulls getting squeezed first, new BTC price analysis predicts.
Bitcoin threatens a trip to long-term range lows before “full bull” takes over BTC price action.
In his latest analysis on X, released on Oct. 10, analyst Cole Garner said that he sees “capitulation incoming” for Bitcoin BTC$60,965.95 markets.
BTC price “range lows” still on the table
Bitcoin still stands to gain from global liquidity trends, but what comes first might shock the average trader.
Investigating current onchain phenomena, Garner flagged liquidity declining in the short term, which could be reflected in BTC price performance.
“Liquidity onchain is tightening: I smell capitulation incoming,” he summarized.
“A common pre-requisite to full bull.”

BTC/USD 8-hour chart with Tether Ratio Channel
>Bitcoin kicks the can on “Uptober”
As Cointelegraph reported, some market participants still hope that BTC/USD will deliver a turnaround from its sideways moves before the end of October.
Related: Bitcoin traders don’t expect new highs until the 200-MA becomes support
One theory argues that even China’s stimulus rethink could spark a fresh wave of capital inflows toward crypto.
Zooming out, bullish BTC price predictions also remain in place. This week, longtime trader Peter Brandt said that he sees BTC/USD reaching $135,000 within the next year, provided that crucial support holds.
Bitcoin traded near $61,000 at the time of writing, down 4% month-to-date, per data from Cointelegraph Markets Pro and TradingView.

BTC/USD 1-hour chart. Source: TradingView
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Good afternoon my dear friend,

Looking at Bitcoin on the daily timeframe we now see a confirmation of MA200 as resistance. While in late September there was a fake breakout, this isn't the case this time around.

Yesterday we can see Bitcoin making an attempt to move higher —BTCUSD tried to move above MA200 but failed. The session ended with a long upper wick and closing at the sessions low, a very strong negative candle.

We have a short-term lower high and MA200 confirmed as resistance. These simple signals indicate that Bitcoin is ready to continue lower in the days, weeks and months to come.

Thank you for reading.

Remember to leave a comment with your thoughts, questions and opinions.
Insults and personal attacks are also welcome and tolerated, we are all adults.

Namaste.
$BTC

#WeAreAllSatoshi #btcupdates2024

🚀Institutional Adoption: Major institutions, including large investment firms and corporations, have embraced Bitcoin as part of their portfolios. With increasing institutional interest, particularly in Bitcoin ETFs, we’re seeing more capital flowing into BTC, helping to stabilize its value and foster long-term growth.
✅Scarcity and Halving Cycles: Bitcoin’s supply is capped at 21 million coins, making it scarce by design. Every four years, the Bitcoin halving event cuts the block reward in half, reducing new supply. This scarcity model tends to drive price appreciation, especially as demand continues to grow.
✅Hedge Against Inflation: Many investors see Bitcoin as a hedge against inflation, especially as traditional fiat currencies lose purchasing power. With its decentralized nature, Bitcoin is often seen as "digital gold" – a store of value that provides an alternative to traditional financial assets.
✅ Increased Global Adoption: Bitcoin's adoption is expanding worldwide, particularly in regions with limited banking access or unstable economies. Countries like El Salvador have even adopted Bitcoin as legal tender, setting a precedent for other nations to consider its benefits as a currency.
✅ Advances in Layer 2 Solutions: Technologies like the Lightning Network are enhancing Bitcoin's transaction speed and scalability. This improvement makes Bitcoin more practical for daily transactions, broadening its use cases beyond being just a store of value and making it a viable option for global transactions.
Share your thoughts in the comment section
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📊 Bitcoin's Price Movement: How to Make Sense of It! 📊
When looking at a Bitcoin chart, there are key indicators that help you understand the current trend and where the price might go. Let’s break down what these indicators mean, what to look for, and how long price action needs to stay above or below key levels for reliable signals.
Simple Moving Averages (SMA) 🟢
What is it? The SMA is the green line on the chart that shows the average price of Bitcoin over the last 9 months. It smooths out short-term price movements and shows the overall trend.What to look for? When Bitcoin’s price (the candles on the chart) moves above the green SMA line and stays there for several days or even weeks, it typically signals that the uptrend is strong. The longer the price remains above the SMA, the more reliable the uptrend.How long? If Bitcoin’s price closes above the SMA for a few daily or weekly closes, this confirms the upward trend. On the other hand, if the price closes below the SMA for a few consecutive days, it could suggest that the trend is weakening, and a downward movement might be ahead.
Relative Strength Index (RSI) 📈
What is it? The RSI appears as two colored lines: purple (RSI) and yellow (moving average of RSI) in the lower part of the chart. The RSI measures how strong Bitcoin's price movements are and whether it's overbought or oversold.What to look for? The purple RSI line is currently around 63.82. When the RSI approaches 70, it indicates Bitcoin might be overbought, and a pullback could happen. If it’s below 30, it signals oversold conditions, meaning the price could rise soon.How long? When the RSI stays above 70 for a few daily closes, it suggests that Bitcoin is potentially overbought, and caution is needed. If the RSI stays below 30 for multiple daily closes, it’s a sign the market might be ready for a recovery.
Stochastic RSI 🔄
What is it? You’ll notice two lines in the blue area at the bottom of the chart—one orange and one blue. This is the Stochastic RSI, which shows momentum in Bitcoin's price movement.What to look for? When both the orange and blue lines are high (above 80), it means the price might be overbought, and a drop could follow. If the lines are low (below 20), it could mean the price is oversold and an upward move might be near.How long? If both lines stay above 80 for a few closes, it signals strong momentum, but a reversal could be around the corner. If they remain below 20 for multiple closes, expect an upward correction soon.
Conclusion:
Is Bitcoin going down? Based on the indicators:The SMA suggests the trend is still upward, as the price is above the SMA line.The RSI shows that the price has room to grow but is approaching overbought levels, so you should watch for signs of a pullback if it reaches 70.The Stochastic RSI is neutral, showing no strong signal of immediate momentum, but it’s not yet in the overbought or oversold zones.
For now, Bitcoin is not strongly going down, but the indicators suggest you should be cautious as it nears higher levels, particularly if the RSI moves above 70 or if the price drops below the SMA line. If you are already in a position, you might want to hold and monitor closely, but if you're looking to enter, it might be wise to wait for stronger signals before making a decision.

#BTC☀ #bitcoin☀️ #Bitcoin❗ #btcupdates2024
$BTC

Greetings from a beautiful Saturday evening.
As we enter November, let's explore what lies ahead this month, what events we should anticipate, how we can prepare for them, and take a brief look back at October.

Yesterday, the market experienced some turbulence with the NFP data, and currently, the price is hovering around $69k. On November 5th, we have the highly anticipated US Elections, and while claims about Trump's victory are dominant, polls suggest the race is close. Right after, on November 7th, we have the Fed Interest Rate Decision. The market expects a 25 basis point reduction with 98% probability. There's a full moon on November 16th, and on various days in November, there will be meetings about AI Regulations, particularly in the UK and European Union. This could potentially affect AI products and coins.
Bitcoin
BTC, which fell 7% in the first week of October, subsequently began to rise, increasing by 16.2% and closed October with a 10.85% gain. While the implied volatility for October was 30%, the realized volatility was around 23%.

The price opened November at $70.2k. Monthly implied volatility for November is 37%, and we can expect 14% weekly. Monthly range could be $44k-96k. We're transitioning from times of decreased volatility to increased volatility. Yes, we're entering a month that could have quite high volatility, but high volatility hasn't arrived yet.

Therefore, we might expect 28-32% this month. This gives us a price band of $90-93k to $47-50k. We usually see initial selling pressure at monthly openings. I think the price will move around the $70k band until the election and could leave wicks both up and down.

Since 2013, it has closed red in only 4 out of 11 years. This could be quite a bullish month for us. My expectations are at least a rise to $80k, followed by a correction, and then progression up to the $90-93k range. Red months saw declines of more than 10%, and rises were similarly above 10%.
Ethereum
ETH, which spent October in the range formed after August's decline, closed below the monthly opening. It remained quite weak against BTC and broke important support levels. While October's implied volatility was 27.5%, realized volatility was 17.7%.

ETH entered November at $2515, with monthly implied volatility at 43% and weekly at around 16%. We can express this range as $1425-3600. Similarly, low volatility significantly affects ETH. Here too, with an average volatility expectation of 30-35%, we can consider upward movement to $3300-3400, and downward to $1750-1650.

I think ETH will lose some more strength against BTC and could retreat to 0.032-0.03 in the ETHBTC pair. The ETH weight can be increased with signs of reversal from that region. However, priority remains on the BTC side.

Since 2016, ETH has closed 4 red and 4 green in 8 years, typically making price movements of 10% up or down. I'm a bit worried since it's been moving in range since August and left its lows open. Therefore, it wouldn't surprise me if the price pulls back to $2300.
Overall, I'll look at November 29 contracts and make a plan expecting the price to move at least 10% up or down.

For BTC, the $63k contracts at 10% down are $1600, 10% up price is at $2100. Looking at contract prices, we can see the market expects upward movement. Call contracts are currently seeing more demand. The Put/Call Ratio at 0.59 supports our prediction. This is one of the indicators that the market has raised its expectations due to the possibility of Trump's election. With contrary expectations or news, the price reaction could be in the opposite direction.
Buying both these contracts brings our total cost to $3700. As a reminder, we can buy these contracts as 0.1, and in that case, the cost would be $370.

On the ETH side, things look less positive. The $2200 contract at 10% down is $56, while $2800 is trading at $71. Total cost here will be $127. Looking at the Put/Call Ratio at 0.73 supports our prediction. Call contracts aren't as dominant as in BTC. There's more of an in-between expectation.
This is my general outlook for November. What do you think, and which possibilities do you see as more dominant? Can you estimate how much profit and loss we could make from these contracts?
#btcupdates2024 #NovCryptoOutlook #FedRateDecisions #NovemberProfits #Elections2024