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Bitcoin's - not so - Unexpected Rally: Two Patterns, Two TradesDear Esteemed TV Members, B efore diving into the Bitcoin price analysis, it's crucial to emphasize that price alone doesn't tell the whole story. A bullish price forecast doesn't automatically translate into a secure investment. I want to clarify that I recently sold most of my BTC holdings due to liquidity concerns. The crypto market can be unpredictable, and a substantial increase in demand, which we witnessed, can lead to liquidity challenges. It's essential to consider various factors when making investment decisions. Let me share my insights into BTC's price and what indicators hinted at the recent developments on the chart. T he two positions on the chart are the pattern indications we'll focus on in this tutorial. I'll highlight two patterns that foretold BTC's bullish trajectory, but please note that other patterns and indicators could have pointed in the same direction. These are just two examples that caught my attention. Rounding Bottom L et's start with the first position, a trade from October 14th to October 24th, aptly named the Rounding Bottom. As the name suggests, this pattern resembles the lower half of a circle or an oval. Rounding Bottoms typically emerge after extended bearish trends. In bearish trends, bearish candles tend to outweigh the bullish ones, leading to increased volatility. The heightened volatility often results in corrective bullish candles that might surprise inexperienced investors. Many people mistake these bullish candles for a full reversal or overextend their positions. However, it's essential to remember that strong trends, whether bullish or bearish, can be quite volatile. S trong trends also tend to form bottom formations. While these bottoms can take various shapes, the Rounding Bottom is the focus here. One insight to observe is the decreasing candle sizes. After October 11th, the volatility decreased, leading to both smaller bearish and bullish candles. It indicates a change in the trend, though not necessarily a bullish one. A nother critical aspect to consider is decreasing volume. Reduced volume doesn't automatically signify a reversal. Bottom formations can include scenarios where the volume spikes before a sharp price increase. However, the decreasing volume in this context indicated a shift. I n addition to reduced volatility and volume, the candles started to form the characteristic oval structure. The price also stabilized on multiple Exponential Moving Averages (EMAs). To identify the pattern as a Rounding Bottom, I had to monitor the candles for a few more days, relying on not only their appearance but also considering volatility, volume, liquidation data, and EMA analytics. T he Rounding Bottom aligning with these indicators provided a degree of confidence in its bullish nature. However, the job was far from done. My initial target price was set based on a resistance trendline drawn from previous local tops, depicted on the chart in purple. AI analysis indicated that the price was likely to reach at least this level. Indeed, it did, and while the rally could have concluded there, the absence of clear top formations and the price stabilizing above EMAs 20, 50, 100, and 200 prompted me to keep the long position until October 24th. Broadening Wedge D uring this period, my pattern recognition algorithm identified a signal of a different formation between October 24th and 27th, a Broadening Wedge. Now, a different formation doesn't necessarily signify a reversal. Broadening Wedges often indicate an escalation of the existing trend, which, after the Rounding Bottom, had been bullish. This aligns with the general behavior expected in textbook examples. B etween these two long positions, there's a notable period where I refrained from taking a position. I also closed any existing positions due to the limited number of candles to identify any pattern with confidence. It's important to note that the more time you can observe a pattern forming, the higher the probability of getting it right. Jumping to conclusions based on just a few candles might lead to incorrect assessments. I n both the Rounding Bottom and Broadening Wedge, I excluded numerous other patterns. When analyzing the market, it's vital to exclude multiple possibilities before settling on a particular pattern. This increases the chances of accurately identifying the pattern in question. T his tutorial offers insights into pattern recognition, target price setting, and stop loss selection. However, remember that these are potential approaches to expand your understanding. Historical results don't guarantee future results. While these patterns proved helpful in this instance, other investors might have identified different patterns leading to similar or even better outcomes. "Too long to read, but I want to learn" tl;dr I found a Rounding Bottom, then a Broadening Wedge. Rounding Bottom shifted the trend from bearish to bullish, and Broadening Wedge continued the bullish trend. It's only a short-term insight from the past and doesn't necessarily reflect my long-term view about the asset or any future view. Kind Regards, Ely
BITSTAMP:BTCUSD
by Elysian_Mind
BITCOIN.DOMINANCE 2DAY UPDATE!!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys. BTC .D UPDATE:-BTC.D bounced from the horizontal support, currently facing local resistance and trying to break it. An upward direction is expected if it successfully breaks out the local resistance. If it happens then we've to be cautious with ALTS. Another possible scenario is a continuous rejection that would lead to the formation of a double top pattern, which would give a relief rally in ALTS. This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade. Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits. THANK YOU.
CRYPTOCAP:BTC.D
by CryptoSanders9563
2
#BTC/USDT 4Hr UPDATE !!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys. BITCOIN UPDATE: -Looking at the 4-hour timeframe, the price is consolidating between the tight range of $18K and $20K. The $20K level recently rejected the price to the downside and appears to be targeting the $18K low again in the near future. The RSI, which demonstrated an overbought signal while the market was testing the $20K resistance level, is now showing neutral values, indicating that the market is in equilibrium in terms of momentum. Considering the higher timeframe downtrend, a breakout below the $18K support remains the most probable scenario, and a continuation of the bear market seems likely. Sorry for my English it is not my native language. Hit the like button if you like it and share your charts in the comments section. Thank you
by CryptoSanders9563
2
BTCDOM | ON THE RISEBTCDOM on the rise? what does it mean? Let's understand what BTCDOM means Binance BTCDOM Index is a cryptocurrency price index reflecting the market dominance performance of Bitcoin. The BTCDOM Index is a metric that traders can use to quickly get a sense of Bitcoin's value relative to that of the broader cryptocurrency market. The BTCDOM Index provides insights into the market and can be used as a tool to speculate on Bitcoin’s relative strength against altcoins. Essentially, the index measures the demand for Bitcoin relative to altcoins. In short, When altcoins gain market share relative to Bitcoin, the BTCDOM index loses value. Conversely, when Bitcoin gains market share relative to altcoins, the BTCDOM index will gain value. Technically speaking, the BTCDOM is looking bullish after forming inverse head n shoulder pattern and likely to move upside. What do you think of the idea?
Long
by JustTradeSignals
4
#BITCOIN DOMINANCE 2DAY UPFDATE !!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys. BTC.D UPDATE:- BTC dominance breakdown horizontal resistance retested successfully and currently moving towards its demand zone. As BTC.D is bearish and BTC is showing sideways behavior, that would be a bullish sign for ALTS, if BTC moves sideways or move upward. This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade. Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits. THANK YOU.
CRYPTOCAP:BTC.D
by CryptoSanders9563
2
#BTC.DOMINANCE 1Hour CHART UPDATE !!Hello dear traders, we are new here so we ask you to support your ideas with your LIKE and COMMENT, feel free to ask any questions in the comments, and we will try to answer for all, thanks, Friends. I have tried my best to get the best possible results in this chart. Hello, dear traders welcome to this BTC.DOMINANCE 1Hr chart analysis. Now Rejected from resistance and Holding 47.11% support. We can see more Blood baths in #Altcoins Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. Thank you...
CRYPTOCAP:BTC.D
by CryptoSanders9563
2
#BTC.DOMINANCE 1DAY UPDATE !!Hello dear traders, we are new here so we ask you to support your ideas with your LIKE and COMMENT, feel free to ask any questions in the comments, and we will try to answer for all, thanks, Friends. I have tried my best to get the best possible results in this chart. Hello, dear traders welcome to this BTC.DOMINANCE 1DAY chart analysis. Dominance is getting rejection by the resistance. The reason we see some green in many Alts across the market. ALT/ BTC Pairs are likely to continue the rally unless broken upside. The trend for alts looks strong for now but keep in mind this will only stay this way as long as BTC holds the $28k level. That is the key level we need to keep an eye on. Thank you for your time, we hope that our work is good for you, and you are satisfied, we wish you a good day and big profits. Sorry for my English it is not my native language. Thanks.
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTC.DOMINANCE UPDATE BY CRYPTOSANDERS !Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys. Hello, dear traders welcome you to this BTC.DOMINANCE 1hr chart analysis. Dominance is getting rejection by the resistance. The reason we see some green in many Alts across the market. ALT/ BTC Pairs are likely to continue the rally unless broken upside. The trend for alts looks strong for now but keep in mind this will only stay this way as long as BTC holds the $28k level. That is the key level we need to keep an eye on. THANK YOU.Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits. THANK YOU.
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTC.DOMINANCE 1HOUR UPDATE BY CRYPTOSANDERS !! Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys. Hello, dear traders welcome you to this BTC.DOMINANCE 1hr chart analysis. CHART ANALYSIS:-As we can see in the chart above BTC.D was trading inside the parallel channel pattern and broke above the 45% level. Now, BTC.D is retesting the upper trend line, and here BTC.D can put towards the 49% level which is 8.5% from the retesting level. It indicates that BTC can also pump at any time and we can witness short-term bull rallies in upcoming hours. Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits. THANK YOU.
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTC.DOMINANCE 2HOUR UPDATE BY CRYPTOSANDRS !!Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys. Hello, dear traders welcome you to this BTC .DOMINANCE 2hr chart analysis. CHART ANALYSIS:-BTC.DOMINANCE is flag brake out and the retest uper trand line and BTC pair altcoin is bearish. Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits. THANK YOU.
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTC.DOMINANCE 8HOUR UPDATE BY SANDERS!Hello, welcome to this BTC.D 8hr chart update by CRYPTOSANDERS. I have tried my best to bring the best possible outcome to this chart. Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on regular basis. CHART ANALYSIS:- In the above-mentioned chart, it is evident that BTC.D was moving inside the channel pattern on a support line and broke the channel and bounced. In the current scenario, BTC.D got a rejection from the upper trend line resistance. Now it can move down up to 41.40% which is the lower support zone This is not a piece of financial advice. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTC.DOMINANCE 6HOUR UPDATE BY CRYPTOSANDERS Hello, welcome to this BTC.D chart update by CRYPTOSANDERS. I have tried my best to bring the best possible outcome to this chart. Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on regular basis. CHART ANALYSIS : As we can see in the above-mentioned chart that BTC.D is trading inside the triangle pattern on a support level after a rejection from the red resistance zone, whenever BTC.D rejects from the red resistance zone it moves down towards the lower support zone which is 39.40%. Here I am expecting that BTC.D will brake the green support and move down to the White ray support area which is 39.40%. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. THANK YOU...
CRYPTOCAP:BTC.D
by CryptoSanders9563
BTC/USDT 1DAY UPDATE BY CRYPTOSANDERSHello members welcome to this BTC/USDT 1D chart update by CRYPTOSANDERS. I have tried my best to bring the best possible outcome in this chart. Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on regular basis. CHART ANALYSIS : As we can see at the above mentioned chart that BTC bounced right from the lower trend line and trading on a support of the green MA. Here BTC just need to hold the MA support for upcoming green days or bull rally. Its highly likely that btc will move upside beacause it bounce just making a bullish divergence at the bottom If BTC unable to hold the MA support then it can move down to lower trend line one more time. This is not a piece of financial advice. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
#BTC.DOMINAMNCE DAILY UPDATE BY CRYPTOSANDRES Welcome to this BTC .DOMINANCE analysis in the chart I have tried my best to bring the best possible outcome in this chart. Hello members welcome to BTC.D 1DAY update by CRYPTOSANDERS In the above mentioned chart we can see that BTC.D dominance is trading inside the Chanel pattern and rejected from the yellow MA In daily chart. So just line the previous two moves inside the channel so here we are expecting that BTC DOMINANCE can fall all the way to the lower trend line. Which will be the bull trend for btc. This is not a piece of financial advice. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTC.DOMINANCE 4HOUR UPDATE BY CRYPTOSANDERS Welcome to this BTC.DOMINANCE analysis in the chart I have tried my best to bring the best possible outcome in this chart. Hello members, welcome to BTC.D 4 hour update by CRYPTOSANDERS. If you have gone through with our yesterday's BTC.D 3 day chart then you will remember, in that chart we mentioned that BTC.D is looking bearish in long term. In the current scenario, in 4hr chart, BTC.D is currently trading inside the falling channel pattern. As we told in our last update that we can take a position in ALTCOINS in btc pair this chart is confirming in the shorter time frame that we will be able to earn some good profit in long run. If BTC.D broke the upper trend line then this chart will be invalidated. This is not a piece of financial advice. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTCDOMINANCE 3DAY UPDATE BY CRYPTOSANDERS Welcome to this quick BTCDOMINANCE analysis. I have tried my best to bring the best possible outcome in this chart. Hello members, welcome to our BTC.D 3-day update As we can see here that BTC.D is on a support of yellow MA, inside a falling wedge pattern. If BTC.D rejects from yellow MA then that will be the confirmation that BTC.D can come down to 39% mark. If it moves as we expect then we will see an uptrend in ALTCOINS until BTC.D changes its movement direction. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. THANK YOU...
CRYPTOCAP:BTC.D
by CryptoSanders9563
#BTC.DOMINANCE 4HOUR UPDATE BY CRYPTOSANDERS Hello members, welcome to the BTCDOMINANC Quick update by CRYPTOSANDERS. I have tried my best to bring the best possible outcome in this chart. In the current scenario, BTC.D broke the Chanel downside and retested the lower trend line. We are expecting here that we will see some downfall which means that BTC will form some green candle because as we know that BTC and BTC.D both work inversely proportional. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. THANK YOU...
CRYPTOCAP:BTC.D
by CryptoSanders9563
bitcoinusdt_btcusdt_btcHello my friends I'm Amir and I came up with another analysis of bitcoin Bitcoin is currently trading at $ 38,800 and the news of the war did not have much effect on the price of bitcoin and we moved up again. We currently have 2 price scenarios Scenario 1: Bitcoin breaks $ 40,000 resistance upwards and after pullback and 4-hour candle stabilization you can buy and its target is $ 41800 $ 43,900 $ 45,840 Probability of occurrence: 60% Scenario two: Support break and black trend line and correction up to $ 36,374 area and after that if you support, you can buy again and take a long position. In-network data and whale mobility, in short, tell us the signs of a reversal and an uptrend in the market. Thanks for posting and goodbye until the next analysis
Long
by Amirrezapaya
BTC.DOMINANCE 1HOUR UPDATE BY CRYPTOSANDERSWelcome to this quick BTC .D analysis. I have tried my best to bring the best possible outcome in this chart. BTC.DOMINANCE is the You all know the reason for the sudden loss of BTC, because of which people are selling every coin due to which BTC dominance is mounting and BTC dominance I think the bad rejection of 43.45% is a force Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section.
CRYPTOCAP:BTC.D
by CryptoSanders9563