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As the crypto market monitors Bitcoin’s (BTC) next price trajectory and the possibility of breaching the $70,000 resistance, a trading expert has pointed out potential opportunities for investors to consider. In a TradingView post on June 7, the analyst TradingShot highlighted a medium-term pattern that aligns with Bitcoin’s long-term bullish trend but contradicts the short-term market euphoria of recent days. The Analysis revealed key insights into potential buying opportunities based on historical price patterns and technical indicators. Picks for you 'Other' cryptocurrencies dominate market liquidations, $100 million losses 17 hours ago 2 cryptocurrencies to reach $25 billion market cap in the second half of the...

As the geopolitical situation around the world tenses up, the markets respond, including the cryptocurrency sector, with its representative asset, Bitcoin (BTC), leading the bearish sentiment as it has lost nearly 3% this week, but hope for another rally remains. Specifically, the realized price indicator for BTC warm supply has suggested that Bitcoin needed to secure a sustained close above $28,233 in order to “reignite” the bull run, according to the observations shared by cryptocurrency trading expert Ali Martinez in an X post on October 12. Bitcoin price action technical analysis. Source: Ali Martinez/Glassnode It is worth noting that realized price refers to the average price weighted by the supply of what the crypto market participants paid for their digital assets, whereas ‘warm supply’ refers to the less active component of short-term holder supply. In this case, the warm supply realized price of the maiden cryptocurrency stands at $28,233, suggesting that this is the ...

Traders question whether the underperformance is due to the Shapella hard fork, while derivatives data indicates that ETH buyers lack conviction. The previous six months should have been extremely beneficial to Ether's (ETH) price , especially after the project's most significant upgrade ever in September 2022. However, the reality was the opposite: between September 15, 2022, and March 15, 2023, Ether underperformed Bitcoin (BTC) by 10%. Ether/Bitcoin price on Bitfinex, 2-day. Source: TradingView The price ratio of 0.068 ETH/BTC had been holding since October 2022, a support that was broken on March 15. Whatever the reason for the underperformance, traders currently have little confidence in placing leverage bets, according to ETH futures and options data. But first, one should consider why Ether's price was expected to rise in the previous six months . On September 15, 2022, the Merge, a Hard Fork that switched the network to a proof-of-stake consensus mechanism, occur...

Bitcoin does not look good when it comes to sustained BTC price upside, traders warn, as GBTC reaches a fresh record discount. Bitcoin (BTC) stayed rigid below $17,000 at the Dec. 19 Wall Street open as skeptical traders feared more downside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC traders call time on upside potential Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering around the $16,700 mark, practically unmoved over the weekend. The pair saw only fractional volatility at the open, as United States equities fell slightly. At the time of writing, the S&P 500 and Nasdaq Composite Index were down 0.5% and 1%, respectively. For Bitcoin traders, there was little to celebrate, with consensus forming around the potential for testing lower levels next. “Bearish as long as it stays below the $19k,” Crypto Poseidon summarized alongside a chart. BTC/USD annotated chart. Source: Crypto Poseidon/ Twitter Popular trader and analyst Rekt Capital...