By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    US-China talks resume as Trump hails ‘total reset’ in trade relations
    US-China talks resume as Trump hails ‘total reset’ in trade relations
    May 11, 2025
    UK plans to end ‘failed experiment’ in immigration
    UK plans to end ‘failed experiment’ in immigration
    May 11, 2025
    Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
    Vladimir Putin’s offer of direct talks with Ukraine is the latest attempt to avoid committing to a 30-day ceasefire | World News
    May 11, 2025
    Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
    Putin proposes direct Russia-Ukraine talks in Istanbul on May 15 | Russia-Ukraine war News
    May 11, 2025
    Why is Germany such a mess? — RT World News
    Why is Germany such a mess? — RT World News
    May 11, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Crypto Weekly Roundup: Ethereum Pectra Upgrade Goes Live, Meta Mulls Stablecoins, & More
    Crypto Weekly Roundup: Ethereum Pectra Upgrade Goes Live, Meta Mulls Stablecoins, & More
    May 11, 2025
    Analyst Tips Ethereum To Rival Bitcoin In The Long Run
    Analyst Tips Ethereum To Rival Bitcoin In The Long Run
    May 11, 2025
    Bitcoin Price (BTC) News: 5K in Play
    Bitcoin Price (BTC) News: $105K in Play
    May 11, 2025
    Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
    Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
    May 11, 2025
    Why is Ethereum (ETH) price up today?
    Why is Ethereum (ETH) price up today?
    May 11, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Bitcoin (BTC) next price surge is building – stock market allowing
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Cryptocurrency > Bitcoin (BTC) next price surge is building – stock market allowing
Bitcoin (BTC) next price surge is building – stock market allowing
Cryptocurrency

Bitcoin (BTC) next price surge is building – stock market allowing

Published July 31, 2024
Share
3 Min Read
SHARE

Contents
Nasdaq in channel correctionS&P 500 already at the bottom?$BTC short term time frame bounce expected

Following Bitcoin’s 6.6% dip, after the US government moved $2 billion in $BTC, the price has since stabilised, hovering around the $66,000 level. Momentum indicators are resetting, and the next upward price surge could be about to begin.

Nothing has really changed in the bullish case for Bitcoin’s next upward journey towards $100,000 and beyond. The US Spot Bitcoin ETFs did record a small 247 BTC outflow on Tuesday, but this is nothing compared to the $billions of inflow that have entered the ETFs over the last three weeks or so.

Nasdaq in channel correction

One of the other main reasons for the fall in the Bitcoin price just recently, besides the US government $2 billion BTC movement, is the ongoing correction in the traditional stock market.

- Advertisement -

Source: TradingView

The QQQ is the ETF for the Nasdaq technology stock market. As can be seen in the chart above, the QQQ has been following an upward channel since the very beginning of this year. Three decent corrections have taken place so far, with the biggest at around 11%. This current correction (at 9% so far) looks to be heading to the bottom of the channel, which should also find support at $448. A bounce from there might be expected. If a bounce isn’t forthcoming, a further dip to $408 could take place.

- Advertisement -

S&P 500 already at the bottom?

Source: TradingView

For the S&P 500 it is a similar story, with the exception that this index may well have already bottomed. The bottom of the channel has been reached, and the price has wicked through to touch the 0.382 fibonacci. Further support can be seen below at the 0.618 fibonacci, although this would be problematic, given that the price would have exited out the bottom of the channel, probably leading to a deeper correction, possibly to the 0.786 fibonacci level.

$BTC short term time frame bounce expected

Source: TradingView

Back to Bitcoin; in the short term 4-hour time frame, it should be noted that the $BTC price has settled just above the 0.618 fibonacci for this move. With the short term stochastic RSI’s mostly reset, it might be expected that a bounce takes place from here.

The top of the bull flag is just overhead, also corresponding with the previous 0.382 fibonacci level. It will be critical for $BTC to get above this level and hold this time. The pivot-low at $63,430 will also be a crucial level to hold above.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

- Advertisement -

#Bitcoin #BTC #price #surge #building #stock #market #allowing

TAGGED:allowingBitcoinBTCbuildingmarketpriceStocksurge
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Pensacola Mexican restaurant temporarily closed after restaurant inspection Pensacola Mexican restaurant temporarily closed after restaurant inspection
Next Article The Impact of Social Media on Modern Art – Insights Success The Impact of Social Media on Modern Art – Insights Success
- Advertisement -

Latest Post

Crypto Weekly Roundup: Ethereum Pectra Upgrade Goes Live, Meta Mulls Stablecoins, & More
Crypto Weekly Roundup: Ethereum Pectra Upgrade Goes Live, Meta Mulls Stablecoins, & More
Cryptocurrency
Analyst Tips Ethereum To Rival Bitcoin In The Long Run
Analyst Tips Ethereum To Rival Bitcoin In The Long Run
Cryptocurrency
US-China talks resume as Trump hails ‘total reset’ in trade relations
US-China talks resume as Trump hails ‘total reset’ in trade relations
World News
UK plans to end ‘failed experiment’ in immigration
UK plans to end ‘failed experiment’ in immigration
World News
Bitcoin Price (BTC) News: 5K in Play
Bitcoin Price (BTC) News: $105K in Play
Cryptocurrency
Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
Price analysis 3/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, PI
Cryptocurrency
- Advertisement -

You Might Also Like

ChatGPT Predicts Rise for Solana, is ScapesMania Also Bullish?
Cryptocurrency

ChatGPT Predicts Rise for Solana, is ScapesMania Also Bullish?

January 27, 2024
Base Again? DeFi Protocol Disappears With 0,000 In Rug Pull
Cryptocurrency

Base Again? DeFi Protocol Disappears With $460,000 In Rug Pull

August 17, 2023
Is Coinbase in the Crosshairs? The Multimillion-Dollar Dilemma It Faces as Bitcoin ETFs Surge in Popularity.
Business

Is Coinbase in the Crosshairs? The Multimillion-Dollar Dilemma It Faces as Bitcoin ETFs Surge in Popularity.

January 22, 2024
Ray Dalio’s Pure Alpha reportedly had bearish stance going into recent market pullback
Business

Ray Dalio’s Pure Alpha reportedly had bearish stance going into recent market pullback

August 16, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?