empty
02.01.2024 02:56 PM
Bitcoin made a bullish breakout of the $45k level: what to expect next?

Bitcoin begins 2024 by reaching a new local high above the $45k level. Recall that at the end of 2023, the cryptocurrency established a local high near the $44.9k mark, after which a correction began. As of January 1st, Bitcoin has made a bullish exit beyond the fluctuation range of $40.5k–$43.4k. The second day of the new year started with a bullish momentum for BTC, thanks to Asian markets.

This image is no longer relevant

The cryptocurrency continues its confident upward movement above $45k and has every chance to firmly establish itself above this psychological mark. The trend of increased growth in BTC/USD quotes may continue after the opening of the American trading session. Therefore, it is logical to assume that the $50k level will become the new major target for Bitcoin.

Bullish Sentiments are Growing

It's no secret that this week could decide the fate of several applications for the approval of a spot BTC-ETF. The deadline for the U.S. Securities and Exchange Commission to approve the first batch of applications is approaching, and according to Bloomberg reports, such approval is expected. Against this backdrop, there is a positive sentiment in the market after the opening of the trading session following the holidays, especially among large investors.

It is reported that institutional investors are opening long positions on BTC with a significant premium on the CME, which is a rare occurrence and indicates high interest from large capital in the asset. The last time "whales" opened positions with a significant premium, BTC/USD quotes increased by more than 25%. Glassnode also reports that on December 30th, investors withdrew more than 28,000 BTC ($1.1 billion) from cryptocurrency exchanges, which is the maximum for the year.

This image is no longer relevant

Such activity from large capital is undoubtedly linked to the upcoming approval of one or more BTC-ETF applications. The head of VanEck stated that the cryptocurrency market will become the most interesting segment for investment, and Bitcoin is awaiting a powerful bullish rally. At the same time, Goldman Sachs notes that the approval of a BTC-ETF could become a "sell the news" event. However, analysts are confident that the approval of BTC-ETFs will attract more institutional investors to the cryptocurrency space.

BTC/USD Analysis

Bitcoin ended 2023 in a state of uncertainty due to the potential formation of several technical analysis figures—double top and triangle. As a result of a strong bullish impulse on the first and second of January, we witnessed the execution of the "triangle" figure. Bitcoin made an upward breakout of the $43.4k resistance level, and subsequently the $44.9k level. The "double top" figure lost its relevance, but there is still a possibility of forming a "triple top" pattern.

This image is no longer relevant

However, the chances of such a figure forming in this situation are minimal, as after a local consolidation within the range of $40.5k$–43.4k, an upward trend formed. Each subsequent low was higher than the previous one, indicating an increase in buying activity, and as a result, a minimal probability of forming a "triple top" pattern.

Summary

Bitcoin kicks off the new trading year powerfully, and events such as the approval of a spot BTC-ETF, the halving, and the reduction of Federal Reserve interest rates will allow the asset to update its all-time high. As for short-term targets, the final consolidation above $45k and creating a foundation for further growth will be the main objective for the bulls. A breakout and consolidation above $50k can be considered the main medium-term target for the bulls, which will become much more feasible after establishing a foundation at $45k.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Análisis el par BTC/USD. El19 de junio. La reunión de la Fed no afectó al Bitcoin

El esquema de ondas del gráfico de 4 horas para el par BTC/USD se ha vuelto más complejo en los últimos meses. Hemos visto una estructura correctiva bajista que finalizó

Chin Zhao 11:04 2025-06-19 UTC+2

Recomendaciones para operar el Ethereum (Ethereum) para el 18 de junio según el sistema ICT.

El Ethereum, mientras tanto, continúa sin moverse del sitio junto con el Bitcoin. Hemos visto toda una serie de desviaciones en el marco temporal de 4 horas, pero ninguna

Paolo Greco 08:08 2025-06-18 UTC+2

Recomendaciones para operar el Bitcoin (Bitcoin) para el 18 de junio según el sistema ICT.

El Bitcoin aún no puede superar la zona de $110 000 - $112 000, pero parece que se dispone a hacer otro intento de superar esta zona. En nuestros últimos

Paolo Greco 08:08 2025-06-18 UTC+2

Recomendaciones para operar con el Bitcoin el 17 de junio según el sistema ICT.

El Bitcoin no logró superar la zona de $110 000 - $112 000, pero parece que está a punto de intentar nuevamente superar esta zona. En nuestros últimos artículos hemos

Paolo Greco 08:31 2025-06-17 UTC+2

La SEC da luz verde para la compra de el Bitcoin por parte de Trump Media

El Bitcoin y el Ether subieron considerablemente al comienzo de la semana, recuperando casi por completo las pérdidas que sufrieron el pasado viernes en el momento del inicio del conflicto

Jakub Novak 10:54 2025-06-16 UTC+2

Recomendaciones para operar con el Bitcoin el 16 de junio según el sistema ICT

El Bitcoin no logró superar la zona de $110 000 - $112 000. Durante ambos días del fin de semana, el Bitcoin se mantuvo en el mismo lugar, sin mostrar

Paolo Greco 07:11 2025-06-16 UTC+2

El mercado de criptomonedas se desplomó, y esta es la razón

El Bitcoin y el Ethereum se desplomaron. El Bitcoin perdió alrededor del 3,5% solo en las operaciones matutinas, mientras que el Ethereum cayó más del 10%, recuperándose ligeramente después

Jakub Novak 08:52 2025-06-13 UTC+2

Recomendaciones para operar con el Bitcoin el 13 de junio según el sistema ICT.

La corrección terminó prácticamente sin comenzar, pero el Bitcoin sigue sin poder superar el área de $110 000 - $112 000. Para nosotros esto no es sorprendente

Paolo Greco 08:52 2025-06-13 UTC+2

La Ley sobre los stablecoins GENIUS cobra nueva vida

Mientras el Bitcoin corrige sin lograr actualizar su máximo histórico, el Senado de EE.UU. votó con 68 votos a favor y 30 en contra la adopción

Jakub Novak 12:11 2025-06-12 UTC+2

Recomendaciones para operar con el Bitcoin para el 11 de junio según el sistema ICT.

La corrección terminó sin apenas comenzar. El Bitcoin lleva seis días consecutivos creciendo vertiginosamente y ha vuelto a sus máximos históricos. Este movimiento estuvo precedido por al menos dos patrones

Paolo Greco 07:53 2025-06-11 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.