2023/03/22 (196.059) Technical Analysis

BTC1! Reached The Price Target Of 27365$, On Monday
– I Except Further Price Increases, That`s Why A New 4XSetUp This Week

Fed hikes rates by 25 basis points, So BTC1! targeting $29,000
As expected, the Fed is raising interest rates by only 25 basis points.
Against this background, the Bitcoin course is flirting with the $29,000 mark.

Bitcoin price: Investors target $29,000 mark
Bitcoin (USD) is flirting with $29,000 post Fed meeting. The bull market is being fueled in particular by investors’ fantasies that the monetary policy headwinds across the Atlantic could ease. Even against the background of the recent banking turmoil, stockbrokers continue to target crypto assets in order to park liquidity. A Bitcoin unit costs around $28,700 in the evening, almost 18 percent more than a week ago.

Rate move of 25 basis points expected – Investors are likely to scrutinize FOMC press conference for monetary policy clues
Investors had expected in advance that the US Federal Reserve would tighten interest rates by 25 basis points and thus raise interest rates to a level of 4.75-5.00 percent. Markets are also watching Jerome Powell. A rate hike of 25 basis points seemed likely. Stockbrokers are also hoping for an interest rate break and interest rate cuts towards the end of the year. All in all, it remains of great importance that the difficult balancing act of fighting inflation on the one hand without initiating new unrest in the banking sector is still of great importance.

Between hopes of fighting inflation and fears of further unrest in the banking sector
Despite the recent bailout and/or „takingover“ of the financially troubled “Credit Suisse” by the Swiss UBS Group AG, the markets remain nervous.
The fear of another bank earthquake is and remains acute. If the upside momentum continues, investors could target the $30,000 level. Profit-taking also remains possible given the recent stock market rally. Against this background, market players should be prepared for sensitive price setbacks.

These are the 3 most bullish BTC predictions right now! Bitcoin forecast update – from $60,000 to $1 million

Bitcoin (BTC) is up more than $8,000 in the last 2 weeks, forecasts are turning increasingly bullish. How high can bitcoin go? Is $60,000 the goal, as one forecastassumes – or is there more? A renowned macro analyst even speaks of a “super cycle” – i.e. a bull run of unprecedented proportions that is driving BTC to new record prices. But: will BTC really explode to $1 million by June 2023? That should also be possible. So let me present you the most bullish Bitcoin predictions.

The digital asset has been pumping for weeks,
effortlessly compensating for even deeper corrections.
Now the forecasts are getting increasingly optimistic for Bitcoin (BTC): the new uptrend is confirmed, the bulls are trampling. Altcoins are also leaving the key crypto currency behind at the moment. Ethereum, for example, the second most valuable cryptocurrency by market capitalization, is lame: the smart contract platform has not even made half the percentage of profits within the last seven days. Although the BTC price is currently on the spot, it does not move beyond $ 28,426. However, analysts expect further gains in the short and medium term. Bearish forecasts are rarely found in the current market environment. The pseudonymous top analyst CryptoCapo, for example, is still expecting new lows, describing the rally as a “highly manipulated movement”.

Apart from that, the record forecasts of these days are overturning.
So: What development do the experts expect? Chart guru Kevin Svenson, for example, is promising a parabolic jump that will let Bitcoin go through the roof by 100 percent: According to the American, BTC has created two support bases and is now working on the third. With the corresponding consequences for the price – which usually goes through the roof in a timely manner following such formations, explains Svenson: “This means that we have a possible base that is created around $30,000 and then doubles to $60,000, like described in the textbook.” The question remains: what will happen next? Profit-taking should put the asset at its all-time high under severe pressure. However, Bloomberg’s senior macro strategist Mike McGlone points out: Bitcoin has even overtaken gold in terms of performance in recent weeks – BTC is outperforming the precious metal by almost 10 times. This could be an indication of a so-called super cycle. What is meant by this is a sustained upward trend that has allowed Bitcoin to parabolically rise over an extended period of time, sometimes decades, while at the same time solidifying its mass adoption – comparable to the internet and internet stocks after the dot-com bubble. McGlone does not contribute a Bitcoin price forecast to his thesis. This comes from top analyst Balaji Srinivasan, the ex-CTO of Coinbase, the largest US crypto exchange. His prediction is currently keeping the crypto community in suspense – it says: Bitcoin will explode to $1 million by June 2023! But that’s not all: The popular industry commentator even officially bets $2 million on his prediction. In the face of hyperinflation and the banking crisis, the world is converting to Bitcoin as digital gold, says Srinivasan – those who do not act now will be left behind. The Stanford graduate warns: Everything will happen very quickly. It remains to be seen whether he is right – many also accuse the bestselling author of advertising on his own behalf in order to generate attention for an upcoming project. The million-dollar forecast should still be a boon for long-term investors who have watched the asset fall since it hit its last all-time high (late 2021).However, let`s get an overview about 10Y Yields price action on this monday,
because the fixed income securities are the historical counterpart of the BITCOIN!
And the BITCOIN Future only makes sense on financial narkets because of low interest rates! Or?

The yield on the US 10-year Treasury note fell past the 3.5% mark, approaching the six-month low of 3.3% touched on Monday as investors digested the dovish rhetoric from the Federal Reserve along with the loosely-expected 25bps hike in its funds rate. The Fed indicated that it was on the verge of pausing its tightening campaign to address recent risks to financial stability, as bank failures this month threatened the health of systemic banks. Concerns that high interest rates may increase the risk of a crisis drove the FOMC to keep year-end forecasts of the funds rate unchanged at 5.1% despite a sharp increase in inflation expectations and downward revisions to the unemployment rate forecast. In the meantime, the yield on the 2-year note fell 20bps to under 4%, narrowing the inversion on the yield curve.

Bitcoin is still in the running on Wednesday.
Cryptocurrency holding above key $28,000 mark,
which makes our 4XSetUp profits more than impressive!

Like many other cryptocurrencies, BTC has benefited greatly from the banking crisis and its impact on the Fed’s interest rate expectations and the loss of confidence in the traditional financial world. Ark Invest CEO Cathie Wood echoed this view yesterday on Bloomberg, saying that Bitcoin’s rise during the banking crisis will prompt more institutional investors to take an interest in the sector. “The fact that bitcoin performed completely differently than stock markets was very instructive,” Ms. Wood said. She also pointed out that “so far, bitcoin has not featured on corporate balance sheets because regulators have spoken out against it.” Against this background, the renowned asset manager advises investors to diversify their portfolios more in favor of cryptocurrencies. In particular, she recommends institutional investors invest between 2.5 and 6.5 percent of their portfolio in cryptocurrencies “if they value this new asset class diversifying their portfolios”. Earlier in the week, Ark Invest argued that Bitcoin and other cryptocurrencies were behaving like “safe havens”.

A trading legend is also convinced that the new all-time high is coming!

When the Bitcoin bulls trample, they usually do it loudly. BTC has gained a whopping 16% in the last seven days, more than it has in months. Industry observers are therefore now looking forward to the Bitcoin price with joyful anticipation: When will the push over 30,000 follow, when will Bitcoin break 32,000 dollars? Hardly any other cryptocurrency can keep up with this speed: For weeks, the coin has defied gravity, effortlessly leaving one resistance after the other behind. However, many investors do not yet trust the bullish momentum – battered by the recent bear market, there is a lack of confidence. Wrongly so, believes trading legend Peter L. Brandt. The American is a trading veteran and is considered the longest-serving crypto strategist in the industry – the commodity trader can look back on more than 40 years of professional experience. As a result, Brandt has been through all the ups and downs – he predicts bull runs and warns of corrections. Now the chart guru is certain: Bitcoin is heading for a new all-time high at full throttle! The previous record high is from November 10, 2021, at $68,789 per BTC (data from Coinmarketcap.com). After that came a long valley of sadness with new lows for the number 1 cryptocurrency – but according to Brandt, Bitcoin is now optimally positioned to soar to new record prices. And soon.

Bitcoin: when is the all-time high coming?

Brandt drops the bomb on Twitter – and writes to his almost 700,000 followers what he now expects from BTC. Brandt:
So the trading legend expects Bitcoin to be worth more than $68,789 by April 2024 at the latest. That, according to Brandt, would also “come very close to the past cycles”. In them, Bitcoin has shot up similarly fast and similarly high – after all, the coin is known for price explosions that attract public interest.
What exactly will trigger the price jump? Brandt does not reveal that – users speculate on inflation and the ongoing banking crisis. However, he adds that it has nothing to do with the upcoming halving. Many consider them to be a massive price driver – Brandt, on the other hand, describes the halving as “much too overvalued”, it is a “non-event”. Bitcoin is currently trading at $28,114 after rising +1.42% in the last 24 hours.