Bitcoin predictions for the coming period

[BDLLTD]

Buying low and selling high is a profitable policy in the cryptocurrency world, but it's hard for anyone to do it in just four words, and it happens all the time that you can't buy to the bottom and sell to the top. History doesn't repeat itself, but it can be strikingly similar, and some statistics and key indicators can be used as appropriate references.

According to price tracking site CoinMarketCap, Bitcoin is trading at $20,090 at press time, down 4.40% in the last 24 hours. In fact, BTC is in danger of closing below its 200-week moving average for the first time ever. So far this month, Bitcoin has failed to close above its 200-week moving average for the third time in a row.
Analysis suggests that we are likely in the late stages of a bear market. However, it is likely that this trend will soon reverse. By using the rate of change of the Puell multiple, we are able to get a more optimized view than the indicator itself.

The Three Stages Leading to Bitcoin's Bottom

The Bitcoin market cycle is characterized by three cycles, which include a market top.
The middle cycle at the orange line indicates the early stages of a general euphoria. After this, the market peaks at the red line. The euphoric bull market area breaks the red line with high precision.

In the current phase, bear market entry and confirmation is shown along the green line at the bottom of Bitcoin. "When the indicator starts to rise again, it indicates that it is leaving the bear market area. We can assume that we are at the end of the bearish cycle and close to a complete reversal. We are in a bear market bottom pattern."

The rebound from the bear market lows is a welcome change, but slowing economic growth and the fact that the shorts have yet to surrender has left many skeptical about the durability of the rally. Overall, there are still two major uncertainties facing the crypto market, the insolvency of some trading platforms within the crypto market and the possibility of further aggressive interest rate hikes by the Federal Reserve due to inflation, which has a high potential to cause trading platforms to explode, thus triggering a second major explosion in the crypto market.

The bear market in 2011, 2014 and 2018, followed by the beginning of a long period of bottom consolidation and then the start of the bull market, has now fallen again to the area of the balance line, indicating that BTC may also have probed the bottom, and if no black swan appears, the probability of a sharp downward kill behind it is not great, but the probability of entering the bottom of the range oscillation is high, while the monthly long-term support line below is not broken, and the weekly line is not broken before the top 69000 descending channel support, so the back is still expected to build a bottom may, medium and long term can consider the layout of the low.

Transferred from Jereh Finance

 

 

[MongiIG]

Recession Fears Loom Dragging Stocks & Bitcoin (BTC/USD) Lower

Jun 29, 2022 
Tammy Da Costa, Analyst

EUROPEAN EQUITIES, INFLATION, CRYPTO TALKING POINTS

• ECB forum continues with the Fed, ECB and BoE maintaining a hawkish narrative
• CAC 40, IBEX 35 and EU Stoxx Index end in the red but DAX 40 leads the way
• Bitcoin (BTC/USD) trades side-ways, while Ethereum remains faithful to $1,100

Full article on DailyFX

[MongiIG]

Bitcoin Break Down May Continue after BTC/USD Breaks 19,000

Jul 1, 2022 | DailyFX | Thomas Westwater, Analyst

BITCOIN, BTC/USD, MARKET SENTIMENT, INFLATION, TECHNICAL OUTLOOK - TALKING POINTS

• Bitcoin plummets amid risk-off move triggered by recession fears
• US stock market closes quarter trailing Asian stock counterparts
• BTC/USD breaks key levels of support, with prices aiming lower

BTC/USD TECHNICAL FORECAST

Bitcoin closed out June with an astonishing 41.2% loss., its worst monthly performance on record. The overnight drop saw the psychologically important 20,000 and 19,000 levels taken out, with prices nearing the June low at 17592.78. A break below that would put prices at the lowest level since November 2020. The Relative Strength Index (RSI) slipped below its 30 mark, highlighting extreme weakness that may persist well into July.

BTC/USD DAILY CHART

Chart created with TradingView

[losi]

It’s been a rocky start to the year for Bitcoin, but experts still say it will hit $100,000 — and that it’s more a matter of when, not if.

Bitcoin on Thursday dipped below $20,000, falling down nearly 5% over the last 24 hours. This is the second time the largest crypto has fallen below $20,000 this month and it still remains under pressure, according to Edward Moya, a senior market analyst at OANDA.

“Bitcoin is struggling to hold onto the $20,000 level,” he says. “If Bitcoin breaks below the recent low around $17,500, there isn’t much support until the $14,500 level.”

The latest crypto market crash was spurred by momentary de-risking from Wall Street as many investors are feeling pessimistic about the economy amid surging inflation, a shaky stock market, and rising interest rates. The crypto market has increasingly tracked the stock market in recent months, which makes it even more intertwined with global economic factors.