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BTC - A wick up & A wick down!This scenario exemplifies a classic case of a bull trap, whereby the market deceives investors into believing that an upward trend is imminent before rapidly reversing course. In the current climate, the bear market is merciless, causing losses for both bullish and bearish investors alike. Thus, adopting a cautious approach and waiting for prices to decline before initiating long-term investments is advised to ensure security. And upon further examination, it is evident that the price got rejected from the bear market downtrend resistance! There is a possibility that the recent bear market rally has come to an end. The rejection from the downtrend resistance is indicating a potential move to the previous bottom of $15.5k. This notion is consistent with the concept of the price following a pattern reminiscent of the 2021 summer period! Furthermore It appears that the current market period is unfolding similarly to the one observed in 2021. If this trend continues, it is likely that the market will experience a downward movement, potentially leading to a decline in value to 13.5k. While it's true that history doesn't necessarily have to repeat itself, it is often observed that historical patterns tend to rhyme with the present. In conclusion, it is anticipated that the price will continue to exhibit a downward trend, with a likelihood of revisiting the 15k level in the future.
Short
by MBM_Crypto
2
btc bottoming at $12k. possibly $10k-$14k FTX has collapsed. Most of the big names on CT have lost everything. Bitcoin looks ripe for the capitulation to continue (not without some relief rallies though). I would like to be buying between the 10-14k level for that generational wealth entry. Don't think you can go wrong buying between those levels and waiting a year. Keep in mind though that btc has never existed in this macro environment (like USM2 contracting for the first time in history), so we may see lower like 8k ~ now that would really test peoples conviction in it, but those buying at those levels deserve to be rich. :)
BITSTAMP:BTCUSDShort
by navywhiskey
1
A huge drop for bitcoin. are you ready A huge head-to-shoulder pattern is being completed, and we will probably see a huge drop in early 2022, with prices dropping to around $ 14,000. So do not rush to buy because great opportunities are on the way. And the biggest and worst issue in the recent trend of selling whales and Maple companies is macro-strategy, and many other issues that prove to us that the uptrend is definitely over, so be sure to divide all your assets into dollars so that you can Take advantage of future opportunities. shoooooooooooooooooooooooooort !!!
Short
by saba007
2
BTC great support @ $8400, $5k downside, Market reversal in Dec?BTC was riding a 3 month descending channel and recently finally broke up out of channel but has since come back down to test support at the previous top of channel resistance. We are holding support right now and this pattern is also very much in line with what to expect on a break out, test support first, then run. This also could end up, yet again just being a new, slightly higher descending channel. There is a chance we could break back down into the old channel and bottom of that channel could be as low as $5k (improbably but possible) but we also see a lifeline of strong historic support at $7800. If we retain a descending channel or break downward to $7800, we are still facing a critical juncture in December around 12 or 19 December. The line you see intersecting the current trend line at this date is where we intersect with the overarching trend that started beginning of this year. If we come up off the trend line it could postpone that intersection. To go below that initial trend line is a strong signal of reversal of our nearly year long bull run. What we really need is for BTC to make it over $14k again so we can confirm the long term market overall as bull. Order books do not suggest we are in oversold territory yet which is usually accompanied by an increasingly positive MDR> vcdepth.io Overall I want to believe that BTC will hold this current support trend line but more so I want to believe we will not cross below the original trend line. I am bullish BTC though currently cautious. This is not investment advice, DYOR.
COINBASE:BTCUSD
by EncryptShawn
2
My above 10k long idea on the BitcoinBTC broke 10k and closed above. Following montly/weekly levels on BITMEX:XBTUSD - Will take significant profit at the 11.4-11.6k range and re-enter at the h4 50MA . Add to long at the 200MA if it gets there :) - Expecting dip to be fast buy back to be massive as well, i'd make sure to get those orders ready. - Expecting 14k after that dip, even tho it may be a little early to say and could get ugly pretty fast in case of failure sub 11.6 ... let's see hows the market going then Not talking about short ATM
BITMEX:BTCUSD.PLong
by RicoLaBrocante
1
BTC in 12,600–15,500 USD by CME adoption (December 11th)Trend predictions based on current market conditions as of November 29th. Using a logarithmic y-axis scale. Strong growth channel #2 (light green parallel channel) indicates that the price of bitcoin will be in the range of 12,600–15,500 USD by December 10th–11th right around the time of adoption into bitcoin futures trading on the CME. The average price of that range falls on ~14,000 USD for nearing that date. This is assuming no massive sell offs, and following the current strong bullish market growth channel. Growth channel #1 as the baseline trend that is overlaid (darker green channel) suggests a similar maximum price range, around 13,000 USD, and an absolute minimum dip around 8,000 USD. This is a counter prediction to the assumption above, because this suggests that a big sell off is actually possible, though from what I've seen is unlikely. It would likely rebound shortly after anyway back to the >10k range after the CME adoption. In short, this gives predictions for the price of bitcoin on December 10th-11th at between 12,600 and 15,500 USD. With a broader range of 8,000 to 15,500 at 95% confidence.
BITSTAMP:BTCUSDShort
by copa1079