Maxwell

BTC update. The daily closing price of Bitcoin has consistently remained above $27,250, with ongoing support from (EMA) 100. For a potential test of the $28,500 region, it's crucial for the price to establish stability above this level.

The largest cryptocurrency by market value has experienced an 11% decline since June. Given the challenging macroeconomic conditions, the performance of BTC in Q4 2023 holds significant importance.

@thescalpingpro It will be interesting to see how Bitcoin's price action unfolds in the context of this support level.

#Bitcoin bouncing back from the 200 Weekly EMA $BTC has a track record of delivering strong returns when its price falls below the 200-Weekly EMA In March 2023, Bitcoin broke out above the 200 Weekly EMA, Price has already bounced off this support in June 2023 and what we are witnessing is the second strong reaction from this support zone. The 200 WEMA seems to be holding as solid support 🤝

@bitcoin__apex it will be interesting to see how Bitcoin's role in wealth preservation and financial planning further develops.

The power of #Bitcoin over time: Today, $2650 buys 0.1 Bitcoin. $2650 also buys the right to live in an apartment for a month in many places on earth (for some it's even too less). In 2044, the block subsidy will be 0.09765625 Bitcoin, after the original amount of 50 Bitcoin/block has been halved for the ninth time. If you use that $2650 to buy 0.1 Bitcoin, ~20 years later this amount is more than a full block subsidy that you would have to pay ~$165,000 for today. How many months of rent can you pay in 2044 if you save this one month's rent of $2650 in Bitcoin as of today? If we extrapolate the current ratios to 2044, one could divide the $165,000 for a full block subsidy today, by the $2650 per month rent and come up with ~62.25. The purchasing power would equal about 62 months, or over 5 years of housing. You can spend $2650 on a month's rent today, or you can instead save the amount of a month's rent in Bitcoin for 20 years and then pay your rent with it for the next ~5 years. This calculation is of course difficult to estimate because of the long time period and several other factors, but it definitely shows the direction of Bitcoin's value growth due to its unique combination of characteristics. It is the strength of Bitcoin over time. Bitcoin is the ultimate vessel for preserving wealth, energy and converted lifetime.

@DaanCrypto The stability in #Bitcoin's Spot Premium is an interesting observation.

#Bitcoin's Spot Premium has been relatively unchanged throughout the past few months. No extremes towards either side for a long duration of time. Spot Premium occurs when spot market prices are trading above that of the perpetuals prices. This causes a negative funding rate.

@tonythebullBTC Here's to a potentially bullish outlook for Bitcoin, and I look forward to seeing the charts that provide more context!

So many key levels have held in #Bitcoin that the bullish outlook has improved significantly Charts incoming later

@CryptoTony__ No one, no matter how experienced or skilled, can predict the market with 100% accuracy. Losses are a natural part of trading and investing.

Just remember that no one has a 100% strike rate as a trader / investor. It is ok to lose and to be honest, when you lose this is when you actually learn the most legends

@CryptoYoddha The crypto market is dynamic, and being adaptable to changing conditions is essential for success.

$BTC And we're back with another week. #BTC is still chilling above the neckline. Would like to see it breakout to either side for trend confirmation. Still has a higher low in play.

@Washigorira 🚀

#Bitcoin Net Unrealized Profit / Loss striking correlation💥 - In 2012, 2016 as NUPL was contracting between Optimism / Anxiety and Hope / Fear areas BTC price was consolidating before resuming its run up. - In 2019 as NUPL was shooting up Bitcoin price was rallying without a contraction period. ➡️ Currently NUPL is contracting as it did in 2012 & 2016 while BTC price is consolidating. I think we might witness a similar price action as Bitcoin had in the first 2 cycles.

@thescalpingpro Let's see how the months ahead unfold for Bitcoin!

September is usually a rough month for #Bitcoin, but surprisingly, it's currently up by +2.68% Conversely, October tends to be a great month for Bitcoin, with a history of Bullish performance.🚀

🔹@SushiSwap expanded to @Aptos_Network and integrated @chainlink's CCIP. 🔹@paradigm announced a massive $1 billion crypto fund. 🔹#FT earnings surged to $1 million, surpassing Ethereum and Tron. 🔹Worrying news for @Coinexcom, which lost ~$31M in ETH, TRON, and Polygon chains

Highlights of the past week in the #crypto world: 🔹$BANANA had a bumpy launch with a contract error but later successfully relaunched. 🔹Big news as @LayerZero_Labs and @zilliqa joined forces with Google Cloud! 🔹@MakerDAO increased its RWA assets by a staggering $200M.

🔹Exciting news for @MetaMask users: the Snaps function has been launched. 🔹@ethereum's Holesky test network faced a rocky start with failures. 🔹@PrismaFi introduced a Points System, attracting $50M TVL in just ~2 hours.

1/3 $BTC [1W] - Parabolic curve step-like formation: "From✖️ at B3 the price could double in the shortest period of time" EW-perspective: + W1: 1st impulse to B3 + W2: 1st correction, running flat type + W3: 2nd impulse to B4 + W4: 2nd correction, sharp + W5: 3rd impulse

The crypto industry had seen investment on the upswing until May, but it's been on a steady decline since then. A challenging month indeed. Stay tuned for insights on market recovery and trends. 💯🙏

August marked the gloomiest month for #crypto since Bitcoin (BTC) tumbled to its lowest at $26,556 back in November 2022. 👀

Adding salt to the wound, venture capital (VC) investment flows plummeted by a staggering 42.7% in August compared to July, netting just $401.9 million across 77 deals.

Even Grayscale's legal victory provided only fleeting relief, with prices reverting to their month-start levels. This triggered one of the largest liquidation events in crypto, with over $1 billion in losses when prices plummeted to $26,000. 😬

Initially seen as a mere summer slump, the market took a sharp nosedive as liquidations cascaded across the derivatives market, wiping out 7.3% of BTC's and 6.9% of Ether's (ETH) value.

@rektcapital Here's to an exciting period in the crypto world as we approach the next halving event! 🚀

#BTC Hang in there and make the most of any deeper downside in this Pre-Halving period You won't want to miss out on the Post-Halving parabola $BTC #Crypto #Bitcoin