#Bitcoin Next move 60k$🚀

DUSK analysis:

The price broke the resistance area and is now trading above it. You can open long positions near the support area with tight stop loss. We may experience a continuation of the upward movement in the coming days.

Support Area: $0.291-$0.300

Resistance Area: $0.332-$0.339

Educational Post

What is Market Momentum?

The term market momentum refers to the ability of a particular market to maintain a continuous increase or decrease in price within a certain timeframe. Essentially, market momentum is what creates a market trend. Since the market momentum is a result of the variations in the market price of an asset, it also reflects the current market sentiment.

As such, market momentum can be used in technical analysis (TA), helping traders identify trading opportunities. These opportunities may arise during bullish or bearish trends (when market momentum is getting stronger) or during reversal points (when market momentum is getting weaker).

However, market momentum is not only related to the price changes but also to the trading volume. This means that high volumes of trading activity indicates a stronger market trend and, thus, a stronger and more reliable market momentum.

Many traders and chart analysts make use of TA indicators to measure market momentum and try to spot possible market trends. Some examples of these tools include the Relative Strength Index (RSI), the Stochastic RSI, the Volume Weighted Average Price (VWAP), and the Moving Average Convergence Divergence (MACD).

Bitcoin has seen a significant rise in value and has broken through its resistance level with high trading volume. As a result, many people are experiencing FOMO (fear of missing out) and there is a lot of hype in the market. If the price of Bitcoin can remain above the $55,000 level, we may see it move towards the key level of $60,000. It is recommended that open positions have a stop loss in place.

Daily dollar cost averaging bitcoin, stocks, bonds, and gold, starting from the day of the $69k $BTC all time high:

- Bitcoin: +107%
- Nasdaq: +31%
- S&P 500: +19%
- Gold: +9%
- Bonds: -9%

🇺🇸 Spot #Bitcoin ETFs bought over 9,000 #BTC yesterday, while miners only produced ~900 BTC.

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📈 $CTG/USDT Estimated Trading: 2024-02-29 06:00 (UTC)

Details: tamilbtc.com/mexc

According to bitinfocharts, Google Trends for #Bitcoin  is now back to 2015 levels (when Bitcoin was $200).

It’s over $50,000 now.

✅ 93.5% of all the #bitcoin has been mined successfully as of today.

BAL Analysis:

The price of BAL is currently attempting to surpass the resistance area. Confirmation of a breakout will be signalled by a candle closing above this resistance level. Conversely, a rejection from this area may lead to a downward movement towards the support zone.

Support Area: $3.50-$3.70

Resistance Area: $4.55-$5.00

After a week of remarkable price movements and substantial capital inflows, the Bitcoin Realized Cap has nearly fully recovered, reaching $467.2 billion. Our current value is only -0.22% shy of the all-time high of $468.3 billion.

DOT rebounded from the local support area and broke through the major resistance level. The price is surging after a retest. If you have opened long positions, consider increasing your stop loss and holding the positions. If the price can break the next resistance area, we see a continuation of the upward rally towards the $10 level.

Resistance Area: $8.70-$8.85

Bitcoin prices approach an all-time high, while Google search interest remains low.

New record for Bitcoin ETF trading volume is officially $7.69 billion. Previous record was $4.66 billion from launch day


Total Spot Bitcoin ETF trading volume surpasses $7.5 billion today, more than doubling its previous record:

• BlackRock: $3,291,107,443
• Grayscale: $1,836,035,297
• Fidelity: $1,422,191,705
• ARK Invest: $425,812,381
• Bitwise: $252,060,298
• Invesco: $162,039,559
• WisdomTree: $59,402,811
• VanEck: $52,142,656
• Franklin: $31,848,031
• Valkyrie: $14,560,139
• Hashdex: $1,005,824

US Government [Bitfinex Hacker Seized Fund] moved around $922 million #Bitcoin to a new address


The US Government transferred 15,085 $BTC ($921M) to 2 new wallets.

And #US Government currently holds 200.16K $BTC($12.3B).

UNFI analysis:

The price is currently attempting to break through a resistance area. If the candle closes above this area, it will be considered bullish and we can expect the price to move towards the next resistance area. However, if the price is rejected at this level, it will likely drop towards the support area. It is recommended to wait for a clear breakout or rejection before opening any new positions.

Support Area: $5.40-$5.85

Resistance Area: $7.20-$7.65

Next Resistance Area: $9.50-$9.75

February 2024 notched the biggest monthly candle in #Bitcoin history in dollar value.

It has been 29 months since BTC posted a monthly candle of this size in October 2021, the month before it made the current all-time high around $69,000.