BITCOIN // primary expansion

Key Chart (H4)

The weekly is mixed, but the daily is bullish, and there was only one H4 breakdown that kept the market off from the primary long trend’s expansion phase.

Targets are the H4, daily and weekly fibo levels on the chart.

Short only below the red level.

Key Fundamentals

Summary

Bitcoin has recently experienced a notable price increase, trading at approximately $105,376, reflecting a 2.7% gain. This surge is influenced by the Federal Reserve’s decision to maintain interest rates and growing optimism within the cryptocurrency market. Additionally, significant corporate investments and evolving regulatory perspectives are shaping Bitcoin’s market dynamics.

Key Factors

Federal Reserve’s Interest Rate Decision:
The Federal Reserve’s choice to keep interest rates steady at 4.25% to 4.5% has contributed to Bitcoin’s recent price appreciation. Investors appear optimistic despite the central bank’s acknowledgment of persistent inflation. 

Corporate Adoption and Investment:
Companies like MicroStrategy have significantly increased their Bitcoin holdings, viewing it as a strategic asset. Analysts have noted that MicroStrategy’s valuation is now closely tied to its Bitcoin investments, reflecting broader corporate adoption trends. 

Regulatory Developments:
Discussions are underway regarding governmental involvement in cryptocurrency holdings. For instance, the UK’s Crown Prosecution Service is seeking legal ownership of seized Bitcoin, which could influence future regulatory frameworks. 

Market Sentiment and Speculation:
Speculation surrounding political developments, such as potential policy changes under different administrations, has also impacted Bitcoin’s price movements. The market is responding to anticipated shifts in regulatory approaches and their potential effects on cryptocurrency adoption. 

Actionable Insights

Bullish Case:

Institutional Adoption: Continued corporate investments and endorsements could drive further price appreciation.

Regulatory Clarity: Clear and supportive regulatory frameworks may enhance investor confidence and market stability.

Bearish Case:

Regulatory Crackdowns: Potential restrictive regulations could hinder market growth and reduce investor participation.

Market Volatility: High volatility and speculative trading may lead to sharp corrections, posing risks to investors.

———

Orange lines represent impulse bases on major timeframes, signaling the direction and validity of the prevailing trend by acting as key levels where significant momentum originated.

Level colors:
Daily - blue
Weekly - purple
Monthly - magenta
H4 - aqua
Long trigger - green
Short trigger - red
Clean (not yet tested) breakdown - dashed green
Clean (not yet tested) breakout - dashed red

———

Stay grounded, stay present.🏄🏼‍♂️

<<please boost 🚀 if you enjoy💚