As a seasoned researcher with over two decades of experience in financial markets, I find myself constantly intrigued by the dynamic nature of Bitcoin and its price movements. The latest developments in the BTC market are no exception.
Looking at the current situation, it appears that we’re witnessing a delicate balance between bullish and bearish forces. The tight range BTC is trading within offers little clarity on where the market might head next, making it challenging to predict with precision. However, the insights from resources like Material Indicators and Skew provide valuable perspectives that I always find thought-provoking.
The potential shift in buy liquidity on Binance is an interesting development, hinting at a possible move upwards if left unchanged. Yet, the cautionary signs from the Trend Precognition A1 algo and the expectation of more “games” to come as we approach the new year have me maintaining my neutral stance for now.
It’s worth noting that Bitcoin has managed to preserve competitive returns in Q4, with almost half of its gains for the year so far. This is a testament to its resilience and ability to adapt to market conditions. Despite various predictions pointing towards new lows, I remain optimistic about the potential for further gains as we move forward.
In terms of long-term projections, Titan of Crypto’s roadmap for 2025 offers an interesting take on Bitcoin’s price journey. If his analysis proves accurate, we could be in for an exciting ride!
Now, as I always say when it comes to predicting Bitcoin prices, “The only certainty about Bitcoin is its uncertainty!” So let’s see how the next few days unfold and if the market will surprise us yet again.
The price of Bitcoin (BTC) hovered around $95,000 during its weekly closing on December 29, with signs of trading manipulation or “liquidity games” appearing on cryptocurrency exchanges’ order books.
Analysis says BTC price needs to crack $97,300
During the weekend, the prices of Bitcoin remained steady as observed by data from CryptoMoon Markets Pro and TradingView, following a period of increased volatility that occurred during the last trading session on Wall Street earlier in the week.
In a narrow price band, the Bitcoin-to-U.S. Dollar exchange rate offered minimal enthusiasm for bullish traders, while analyzing market liquidity prompted onlookers to maintain a watchful, conservative stance.
In regards to quick price movements, the financial tool Material Indicators issued a caution, as two of its internal indicators displayed “warning” signs.
FireCharts indicates that a fresh $86M bidding ladder is propelling Bitcoin’s price upward from its recent lows. However, a fresh (red) signal from the Trend Precognition A1 algorithm on the D chart, which follows consecutive (red signals) from the A2+ algorithm, suggests that the price might not surpass yesterday’s high before the close of today’s D candle.
“A push above $97.3k would invalidate the new signal.”
The Binance BTC/USDT pair made popular trader Skew equally indecisive over what might happen next.
A graph posted on X revealed an increase in buy liquidity moving closer to the current market price, suggesting a possible upward trend if left unchanged by its proprietor.
As a researcher observing today’s market trends, I’ve noticed that the limit bids have been steadily creeping upwards and are now approaching the current price. This observation is part of my ongoing analysis.
“Often a signal for what’s to come as large market entities attempt to influence / control price.”
Skew added that he was “expecting more of these games to be played going into yearly open.”
Bitcoin preserves competitive Q4 returns
At around $95,000, Bitcoin remained down just 1.25% in December at the time of writing.
According to data from the monitoring system, CoinGlass, the potential increase for Q4 is estimated to be more than 50%. This is nearly equal to the total growth of the resource for the entire year of 2023.
Regardless of numerous Bitcoin price forecasts predicting further lows prior to the resumption of the bull market, seasoned investors remain optimistic that significant profits are still on the horizon.
One of the individuals was renowned crypto trader Titan, who posted a chart on platform X, which he referred to as Bitcoin’s projected “guideline” or “plan” for the year 2025.
The Wyckoff analysis indicated that the upward trend toward significant peaks would persist, followed by a period of redistribution.
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2024-12-29 17:39