Regarding the price trend, using a parallel channel, we see that BTC has returned to the lower boundary and may receive strong support here. If BTC falls out of this uptrend channel, I'm afraid we'll have to face Fibo 0.382 around $40K or worse, Fibo 0.618 around $28K.I hope that BTC will fluctuate exactly according to this parallel channel, and we will welcome an impressive growth to 140K USD or at least reach 100K USD as expected for many years. The market fluctuations over the past time have been enough for weak-hands to sell off tokens, when the whales have accumulated enough, they will pump to take profit at a higher price.
Summary: I anticipate BTC to resume its upward trend immediately after the FED cuts interest rates, pulling the entire market into a bull run and triggering an altseason.
I hope that BTC will fluctuate exactly according to this parallel channel, and we will welcome an impressive growth to 140K USD or at least reach 100K USD as expected for many years. The market fluctuations over the past time have been enough for weak-hands to sell off tokens, when the whales have accumulated enough, they will pump to take profit at a higher price.Parallel channels are formed based on past observations and may not accurately predict future price fluctuations. Therefore, we can only continue to expect, rather than absolutely rely on, any suggestions from technical analysis. Regardless, the current parallel channel and its fluctuations are quite neat, providing us with a framework to easily track BTC price. If BTC price falls out of this parallel channel, we must also consider worse-case scenarios.
The BTC halving has already happened, so I don't think BTC price will continue to decline significantly, as this could negatively impact market sentiment and new investors will be hesitant to enter the market, and as a result, this season will end early or be extended abnormally, both scenarios will break the cycle of BTC.
I have never been too much for technical analysis (although I think they make sense), but it is logical that either a bull run will happen or, after a long stay at approximately the same levels, we will sink where the majority would not like. Of course, everyone is waiting for the FED's decision on interest rates, which honestly gets on my nerves a bit, considering that it turns out that the price of BTC is completely dependent on the US market, but on the other hand, all markets are deeply connected, as we saw in the recent case of the Japanese crash that shook the whole world.Yeah, I also hope that Trump success in this election can open a new era for BTC & crypto in the US. Trump plans for crypto are really attractive and can trigger a wave of crypto adoption on a global scale as many countries will be afraid of missing out on BTC.
It's no secret that we expect action in Q4 considering that we are in the halving year, but I would still be cautious and extend that period to approximately at least 1 year from today - because let's not forget that the presidential elections in the US will also have an impact on the market, especially the one in the US.
Yeah, I also hope that Trump success in this election can open a new era for BTC & crypto in the US. Trump plans for crypto are really attractive and can trigger a wave of crypto adoption on a global scale as many countries will be afraid of missing out on BTC.
I don't think BTC depends on the US, but the entire global economy because BTC is also a part of the financial market. Changes in politics and policies in the US economy will have an impact on a global scale because the US is still the largest economy, USD is the most popular fiat. Lower interest rates will make the economy have more money for investment, the new government will continue to print more money and BTC will definitely receive a portion of new capital to grow and create new ATH ^^
I am one of those who do not believe that this man has sincere intentions, and regardless of whether he even has them when it comes to Bitcoin, his choice would be disastrous for international politics considering that it would reopen the very likely trade wars with China, and would completely change the attitude towards the war in Ukraine and, accordingly, relations with the entire EU. In my personal opinion, the benefits of his victory would be far less than the damage that will occur globally.At the very least, I believe that Trump's win will have a positive impact on the development of crypto in the US and then on a global scale, and ultimately crypto investors will benefit from the widespread acceptance of crypto. Harris has not shared her views or specific plans for crypto, I do not put my trust in her.
Powell announced yesterday what was expected for months, in September we will see the first interest rate cut after 2020 in the US - and coincidentally or not the price of BTC reacted immediately after that because spot ETFs recorded an inflow of over 4000 BTC yesterday.
I really hate to say this, but it's a win-win for both us investors and the one that's using Bitcoin or crypto to be more popular and in this case, it's Trump. I hate most of politicians because of how they are campaigning themselves, but that's all that I can do.I am one of those who do not believe that this man has sincere intentions, and regardless of whether he even has them when it comes to Bitcoin, his choice would be disastrous for international politics considering that it would reopen the very likely trade wars with China, and would completely change the attitude towards the war in Ukraine and, accordingly, relations with the entire EU. In my personal opinion, the benefits of his victory would be far less than the damage that will occur globally.At the very least, I believe that Trump's win will have a positive impact on the development of crypto in the US and then on a global scale, and ultimately crypto investors will benefit from the widespread acceptance of crypto. Harris has not shared her views or specific plans for crypto, I do not put my trust in her.
Powell announced yesterday what was expected for months, in September we will see the first interest rate cut after 2020 in the US - and coincidentally or not the price of BTC reacted immediately after that because spot ETFs recorded an inflow of over 4000 BTC yesterday.
As I have stated, we only have one common economy and BTC/crypto is part of that economy, the crypto market is also nurtured by the common money flow and is subject to the common fluctuations of the economy. I think this is a positive event and the interest rate cut is considered a necessary condition for crypto to enter bullrun thanks to the abundant new money flow.
I really hate to say this, but it's a win-win for both us investors and the one that's using Bitcoin or crypto to be more popular and in this case, it's Trump. I hate most of politicians because of how they are campaigning themselves, but that's all that I can do.I am one of those who do not believe that this man has sincere intentions, and regardless of whether he even has them when it comes to Bitcoin, his choice would be disastrous for international politics considering that it would reopen the very likely trade wars with China, and would completely change the attitude towards the war in Ukraine and, accordingly, relations with the entire EU. In my personal opinion, the benefits of his victory would be far less than the damage that will occur globally.At the very least, I believe that Trump's win will have a positive impact on the development of crypto in the US and then on a global scale, and ultimately crypto investors will benefit from the widespread acceptance of crypto. Harris has not shared her views or specific plans for crypto, I do not put my trust in her.
Powell announced yesterday what was expected for months, in September we will see the first interest rate cut after 2020 in the US - and coincidentally or not the price of BTC reacted immediately after that because spot ETFs recorded an inflow of over 4000 BTC yesterday.
As I have stated, we only have one common economy and BTC/crypto is part of that economy, the crypto market is also nurtured by the common money flow and is subject to the common fluctuations of the economy. I think this is a positive event and the interest rate cut is considered a necessary condition for crypto to enter bullrun thanks to the abundant new money flow.
I agree with what you said that Trump winning the position as President will have an impact towards the price of crypto, but what are the chances for it to happen? There are no certainties when it comes to crypto, and there's always a chance that it might not have any effect at all. We might only see a significant impact towards the price of Bitcoin if Trump will make some policies that will be beneficial to crypto as a whole.
I'm leaning towards the fact that Trump might be the catalyst of this bull run that we are waiting for.
I really hate to say this, but it's a win-win for both us investors and the one that's using Bitcoin or crypto to be more popular and in this case, it's Trump. I hate most of politicians because of how they are campaigning themselves, but that's all that I can do.Trump has been deeply involved in the crypto market through NFTs and limited edition shoes ^^ so I believe that Trump really understands the value of BTC and crypto for the US economy. Trump has also shared his views on crypto and plans to accept BTC for the US, so if Trump really wins the election, he will need to fulfill those promises to protect his honor and his position as president. This is the reason why I support Trump and hope that Trump will win.
I agree with what you said that Trump winning the position as President will have an impact towards the price of crypto, but what are the chances for it to happen? There are no certainties when it comes to crypto, and there's always a chance that it might not have any effect at all. We might only see a significant impact towards the price of Bitcoin if Trump will make some policies that will be beneficial to crypto as a whole.
I'm leaning towards the fact that Trump might be the catalyst of this bull run that we are waiting for.
Wow, I didn't even noticed this one. This might be another analysis that adds probability to the price to continue to go up. However, my analysis is different from you, I usually focus on market structure through BOS and ChoCh. BOS is determined that price action is trending whether down trend or up trend, but if ChoCh the price is going for reversal. I also applied indicator in it to support my analysis. But the most important here is that we the same thoughts where the price will go, it gives me confidence that my analysis will going to materialize.Well, I hope you can share some screenshots to illustrate the signals from BOS and ChoCh. That would definitely be an interesting perspective for our discussion. I'm always interested in the market analysis of AltcoinsTalks members.
It was a good call, even had the potential risks involved, but thankfully that did not happen and we are doing fine right now, reaching around 65k at the very top, which is a huge relief for all of us because we really expected it to go up. To be fair its not there anymore, that's the 24 hourly peak, but at the same time it shows whats possible and what we achieved. I am guessing that its having a little trouble, look at the chart you will see that its not a direct go upwards movement, even at upwards movements there are some small downwards here and there, it must be that, we will see this continue to go higher for a while longer.It's good that BTC has recovered instead of continuing to decline and breaking the uptrend channel. According to the description of the oscillation, we are still only in the reaccumulation zone and can only witness a strong price increase in Q4 2024 and Q1 2025. Events related to the FED and the election could be the drivers for this growth, we'll follow together.