retracement
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In crypto, a retracement is a normal pullback after a strong price move. It’s not a reason to panic. It’s an opportunity to buy or sell before the trend resumes. Use tools like Fibonacci retracements to spot key levels. Remember, the bull market is still in its early stages, so don’t panic during short-term drops. Retracements are temporary don’t let short-term dips distract you from the bigger picture. $BTC $ETH $SOL #retracement #BTCBreaks80KATH #fomo #panicselling
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Since the November 2022 Bear Market Bottom...
Bitcoin has experienced the following retraces:
• -23% (February 2023) lasting 21 days
• -21% (April/May 2023) lasting 63 days
• -22% (July/September 2023) lasting 63 days
• -21% (January 2023) lasting 14 days
This current pullback is only the 5th major retrace since the 2022 Bear Market Bottom
All of the pullbacks experienced just over -20% retracement depth
Bitcoin has pulled back -16% thus far
But the retrace began only last Thursday
The current retrace has therefore barely lasted a week
In sum, there are two key takeaways about retracements in this current cycle:
• The closer Bitcoin gets to a -20% retrace, the better the opportunity becomes
• Retraces need time to fully mature (at least 2-3 weeks, at most 2-months)
#BTC #retracement #OpportunityKnocks $BTC $ETH $BNB
Since the November 2022 Bear Market Bottom...
Bitcoin has experienced the following retraces:
• -23% (February 2023) lasting 21 days
• -21% (April/May 2023) lasting 63 days
• -22% (July/September 2023) lasting 63 days
• -21% (January 2023) lasting 14 days
This current pullback is only the 5th major retrace since the 2022 Bear Market Bottom
All of the pullbacks experienced just over -20% retracement depth
Bitcoin has pulled back -16% thus far
But the retrace began only last Thursday
The current retrace has therefore barely lasted a week
In sum, there are two key takeaways about retracements in this current cycle:
• The closer Bitcoin gets to a -20% retrace, the better the opportunity becomes
• Retraces need time to fully mature (at least 2-3 weeks, at most 2-months)
#BTC #retracement #OpportunityKnocks $BTC $ETH $BNB
$JTO major retracement will be bloody and this 2 long candles here are not selling yet.
Wait for the best price don't get Fomoed!
AIRDROP holders are still there waiting for a signal to sell. 1 good red candle is the key before correction
#JTO
#retracement
#BearishZone
#DontGetFomoed
#SolanaPriceSurge
Wait for the best price don't get Fomoed!
AIRDROP holders are still there waiting for a signal to sell. 1 good red candle is the key before correction
#JTO
#retracement
#BearishZone
#DontGetFomoed
#SolanaPriceSurge
$BTC
alert BTC is going to drop around 44600 to 44700 within 1 or 2 hours.
and there is further possiblity to drop more downside because yesterday fake news was circulated.
I specifically suggest traders to avoid long trades.
#BTC #dump #retracement #etf #2024withBinance
alert BTC is going to drop around 44600 to 44700 within 1 or 2 hours.
and there is further possiblity to drop more downside because yesterday fake news was circulated.
I specifically suggest traders to avoid long trades.
#BTC #dump #retracement #etf #2024withBinance
Could Bitcoin Continue to Surge? 🤔
Bitcoin is showing a rare #bullish pattern with a potential crossover between two key moving averages, not seen in eight years.
This last occurred before Bitcoin surged to $20,000 in 2017. The current excitement surrounding the first US Bitcoin #ETF is boosting the market, but some remain skeptical, predicting a price drop after the ETF decision.
Despite differing opinions, indicators suggest further upside potential for Bitcoin, while a notable trader predicts a temporary peak before a possible #retracement to around $30,000.
#Binance
#crypto2024
Bitcoin is showing a rare #bullish pattern with a potential crossover between two key moving averages, not seen in eight years.
This last occurred before Bitcoin surged to $20,000 in 2017. The current excitement surrounding the first US Bitcoin #ETF is boosting the market, but some remain skeptical, predicting a price drop after the ETF decision.
Despite differing opinions, indicators suggest further upside potential for Bitcoin, while a notable trader predicts a temporary peak before a possible #retracement to around $30,000.
#Binance
#crypto2024
Will Bitcoin's Price Decline Before the Halving Event? 📉
Amid #bitcoin 's recent surge to 17-month highs and anticipation of a Bitcoin halving event in 164 days, conflicting signals arise from supply metrics.
The stablecoin supply ratio is at an all-time high, suggesting strong appetite for Bitcoin accumulation. However, this also indicates weak stablecoin purchasing power, potentially leading to a #retracement before the #halving in April 2024.
On the other hand, the reserve risk indicator, which measures risk-reward incentives, remains at multiyear lows, signaling high confidence in Bitcoin's future price performance.
Long-term holders may be poised for significant gains, especially with potential inflows from a Bitcoin ETF.
#Binance
#crypto2023
Amid #bitcoin 's recent surge to 17-month highs and anticipation of a Bitcoin halving event in 164 days, conflicting signals arise from supply metrics.
The stablecoin supply ratio is at an all-time high, suggesting strong appetite for Bitcoin accumulation. However, this also indicates weak stablecoin purchasing power, potentially leading to a #retracement before the #halving in April 2024.
On the other hand, the reserve risk indicator, which measures risk-reward incentives, remains at multiyear lows, signaling high confidence in Bitcoin's future price performance.
Long-term holders may be poised for significant gains, especially with potential inflows from a Bitcoin ETF.
#Binance
#crypto2023
Technical Analysis of Bitcoin (BTC) and Ethereum (ETH) (as of April 16, 2024)
Market Sentiment:
The overall sentiment in the cryptocurrency market remains cautious. Recent price declines, particularly for Bitcoin, have dampened enthusiasm. Trading volumes remain subdued, reflecting investor hesitancy.
Bitcoin (BTC):
Current Price: $BTC
Trend: Short-term downtrend.
Fibonacci Levels: Using the most recent swing high of ~$70,000 and swing low of ~$50,000, key Fibonacci retracement levels sit at:
Support: ~$53,800 (38.2% retracement) & ~$46,200 (50% retracement)
Resistance (previously mentioned): ~$61,800 (23.6% retracement) & ~$67,600 (14.6% retracement)
Analysis: While $BTC has recovered slightly from its intraday lows, it's still trading below the crucial $64,000 level. A break below this level could trigger a test of the support zones mentioned above. A sustained move below $46,200 would indicate a steeper decline. Conversely, a daily close above $64,000 might suggest a short-term trend reversal.
Ethereum (ETH):
Current Price: $ETH
Trend: Similar to BTC, ETH is in a short-term downtrend.
Fibonacci Levels: Using the most recent swing high of ~$4,800 and swing low of ~$3,200, key Fibonacci retracement levels sit at:
Support: ~$3,700 (38.2% retracement) & ~$3,200 (50% retracement)
Resistance (previously mentioned): ~$4,200 (23.6% retracement) & ~$4,400 (14.6% retracement)
Analysis: ETH finds itself in a precarious position. The current price sits very close to the 50% retracement level, indicating a potential turning point. A breakdown below $3,200 could exacerbate the downtrend. Conversely, a daily close above $3,400 might signal a potential recovery towards the $3,700 support zone and eventually the previous highs.
#bitcoinhalving #BullorBear #Fibonacci #retracement
Market Sentiment:
The overall sentiment in the cryptocurrency market remains cautious. Recent price declines, particularly for Bitcoin, have dampened enthusiasm. Trading volumes remain subdued, reflecting investor hesitancy.
Bitcoin (BTC):
Current Price: $BTC
Trend: Short-term downtrend.
Fibonacci Levels: Using the most recent swing high of ~$70,000 and swing low of ~$50,000, key Fibonacci retracement levels sit at:
Support: ~$53,800 (38.2% retracement) & ~$46,200 (50% retracement)
Resistance (previously mentioned): ~$61,800 (23.6% retracement) & ~$67,600 (14.6% retracement)
Analysis: While $BTC has recovered slightly from its intraday lows, it's still trading below the crucial $64,000 level. A break below this level could trigger a test of the support zones mentioned above. A sustained move below $46,200 would indicate a steeper decline. Conversely, a daily close above $64,000 might suggest a short-term trend reversal.
Ethereum (ETH):
Current Price: $ETH
Trend: Similar to BTC, ETH is in a short-term downtrend.
Fibonacci Levels: Using the most recent swing high of ~$4,800 and swing low of ~$3,200, key Fibonacci retracement levels sit at:
Support: ~$3,700 (38.2% retracement) & ~$3,200 (50% retracement)
Resistance (previously mentioned): ~$4,200 (23.6% retracement) & ~$4,400 (14.6% retracement)
Analysis: ETH finds itself in a precarious position. The current price sits very close to the 50% retracement level, indicating a potential turning point. A breakdown below $3,200 could exacerbate the downtrend. Conversely, a daily close above $3,400 might signal a potential recovery towards the $3,700 support zone and eventually the previous highs.
#bitcoinhalving #BullorBear #Fibonacci #retracement