• Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt
No Result
View All Result
Card Bitcoin
Shop
Card Bitcoin
No Result
View All Result
Home Bitcoin

Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s What Happened Last Time

n70products by n70products
December 12, 2024
in Bitcoin
0
Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s What Happened Last Time
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter



Este artículo también está disponible en español.

A crypto analyst has unveiled uncanny similarities between Bitcoin’s Chicago Mercantile Trade (CME) chart from late This fall 2024 and 2023. In accordance with the analyst’s report, the 2024 Bitcoin CME chart replicates the worth motion seen in 2023, experiencing comparable technical patterns, wave constructions, value actions, and particular key indicators. 

Bitcoin CME Chart Mirrors 2023 Value Motion

A comparative evaluation of the Bitcoin CME charts from Nov/Dec 2023 and Nov/Dec 2024 reveals placing parallels. The charts, shared on X (previously Twitter) by crypto analyst and market technician Tony Severino, characteristic a near-identical Elliott Wave rely, showcasing 5 distinct waves that point out classical bullish patterns. 

Associated Studying

Bitcoin
Supply: X

The value motion in each charts highlights a big breakout from consolidation, with Bitcoin’s bullish momentum surging as November and December method. Furthermore, the Bollinger Bands for the Bitcoin CME charts are increasing equally, indicating a possible for an upward pattern continuation.

Bollinger Bands are distinctive technical evaluation instruments for figuring out sharp short-term value actions and potential entry and exit factors. Taking a look at Severino’s Bitcoin CME chart for 2023 and 2024, the worth is using the higher Bollinger Band for each years, suggesting a robust bullish pattern. 

Including weight to the evaluation of those parallel CME charts, the analyst has revealed that each charts showcase comparable Fibonacci extensions. In 2023, the 4.416 and 6 Fibonacci extension ranges served as essential markers, with BTC rallying to succeed in their equal value ranges at $39,265 and $45,250, respectively. These identical Fib extension ranges have additionally been highlighted on the 2024 Bitcoin CME chart, suggesting that Bitcoin may repeat historical past and hit new price targets of $105,465 and $124,125, respectively. 

One other key issue Severino recognized on each Bitcoin CME charts is the presence of gaps. A CME futures gap refers back to the variations between the closing and opening costs of BTC on the CME. In 2023, a CME gap was filled throughout Bitcoin’s value rally, with the 2024 chart additionally spotlighting a comparable hole close to the $124,125 mark.  

$120,000 BTC Value Goal In Sight

Whereas delving deep into the worth motion and key technical indicators of the Bitcoin CME charts of Nov/Dec 2023 and 2024, Severino predicted that Bitcoin may put together for a bullish move above $120,000. The analyst has based mostly this optimistic projection on the placing similarities between the Fibonacci extension ranges of each Bitcoin CME charts.

Associated Studying

Earlier final week, the price of BTC skilled a pointy surge above $104,000, marking a brand new all-time excessive. Nonetheless, the cryptocurrency rapidly corrected to $94,000, with many analysts describing this decline as a “Bitcoin flash crash.”

At the moment, Bitcoin is buying and selling at $97,638, experiencing a gradual value enhance from earlier lows. If the cryptocurrency can preserve a steady bullish place, it’s attainable that Bitcoin may rise again in direction of its $100,000 ATH. 

Bitcoin price chart from Tradingview.com
BTC value pushes towards $100,000 once more | Supply: BTCUSD on Tradingview.com

Featured picture created with Dall.E, chart from Tradingview.com



Source link

Tags: BitcoinChartCMEhappenedHeresShowsSimilaritiesStrikingTime
Previous Post

SEC Commissioner Hester Peirce Says Trump Adminstration Should Do Three Things To Boost Crypto Industry

Next Post

Analyst Says Dogecoin in Early Bull Market Stage, Sees DOGE Skyrocketing to Huge Target ‘If Things Go Wild’

Next Post
Analyst Says Dogecoin in Early Bull Market Stage, Sees DOGE Skyrocketing to Huge Target ‘If Things Go Wild’

Analyst Says Dogecoin in Early Bull Market Stage, Sees DOGE Skyrocketing to Huge Target ‘If Things Go Wild’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Product categories

  • Bitcoin Book
  • Bitcoin Coin
  • Bitcoin Hat
  • Bitcoin Merch
  • Bitcoin Miner
  • Bitcoin Miner Machine
  • Bitcoin Shirt
  • Bitcoin Standard
  • Bitcoin Wallet
  • Products
  • Uncategorized

Related News

Two Solana-Based Tokens Surge After Coinbase Announces Surprise Roadmap Listing

March 28, 2024
Dogecoin Must Hold This Support Or Risk Crashing To $0.015

Here’s Why Bitcoin Mirrors Summer 2024 And What’s Next

March 25, 2025
Analyst Tips Ethereum To Rival Bitcoin In The Long Run

Analyst Tips Ethereum To Rival Bitcoin In The Long Run

May 11, 2025

Recents

Ethereum Bulls Defend Support – Key Indicator Hints At Short-Term Rally

Ethereum Bulls Defend Support – Key Indicator Hints At Short-Term Rally

May 31, 2025
Newer BTC Treasury firms untested in bear market: Max Keiser

Newer BTC Treasury firms untested in bear market: Max Keiser

May 31, 2025
Bitcoin: Bank of England ‘on the brink’ on buying BTC, Michael Saylor claims

Bitcoin: Bank of England ‘on the brink’ on buying BTC, Michael Saylor claims

May 31, 2025

CATEGORIES

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

BROWSE BY TAG

Altcoin ALTCOINS Analyst Binance Bitcoin Bitcoins Blog Breakout BTC Bullish Bulls Coinbase Crash Crypto DOGE Dogecoin ETF ETH Ethereum Foundation Heres high hits Key Level Major Market Memecoin Move Outlook Predicts Price Rally Report SEC Solana Support Surge Target Top Trader Trump Updates Whales XRP

© 2024 Card Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • More
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Book
    • Bitcoin Miner
    • Bitcoin Standard
    • Bitcoin Miner Machine
    • Bitcoin Merch
    • Bitcoin Wallet
    • Bitcoin Shirt

© 2024 Card Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version