Greetings to you on the crypto site. My name is Viktor and today I will share my opinion about #bitcoin, #btc-usdt, using the TradingView service, here Bitcoin Forecast for the Week of 09-09-2024
Bitcoin Forecast
Weekly Review: What’s Happening to Bitcoin?
During the last week, the Bitcoin market was marked by a number of important events that significantly affected its dynamics. In this review, we will consider the main points shaping the current situation, as well as possible scenarios for the development of events in the near future.
Key Events of the Week
One of the main news was the successful testing of the new Bitcoin network update. This event caused increased interest from investors, especially from Asia. In addition, the statements of the European Central Bank, which also influenced the market, became important.
The fear and greed indicator is currently at 26, indicating that the market is still in a state of fear. This means that many investors are cautious about any decision to buy or sell assets.
Bitcoin Technical Analysis
When switching to the TradingView service, we can see the general technical picture. Oscillators are now tuned for a possible trend change, which may indicate the beginning of a reversal phase. Moving averages so far show “strong selling”, but oscillators remain neutral, which often indicates an impending trend reversal.
An analysis of the opinions of traders on the platform shows that most of them expect a reversal of the market. The first trending idea on TradingView, which has received many likes, suggests that Bitcoin is likely to rise in the near future.
Analysis from Social Networks
YouTube and Twitter are also full of analytical material supporting the idea of a market reversal. For example, one YouTube video that received a lot of positive feedback explains why, despite the current downtrend, there are signs that Bitcoin could reach new highs.
Twitter is also dominated by market reversal ideas, supported by numerous comments and chart analysis.
Forecast for the Future
Taking into account all factors, we can conclude that the current situation on the Bitcoin market has every chance of positive development. It is expected that this week we will see the price rise to $59,000. However, you should be careful, because another decline is possible before the beginning of the growth phase.
Overall, the next month could be a turning point for Bitcoin, and as early as October we may see the beginning of a new phase of growth.
Tips for Traders
If you plan to trade this week, pay attention to market signals. In the reversal phase, there can be unexpected fluctuations, so you should be careful. Monitor indicators and market reactions to key levels to make informed decisions.
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Біткоїн — Прогноз на Тиждень, 09-09-2024, #CryptoViktor
