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Bitcoin-btcusd-btc

BITCOIN starting a recovery similar to post COVID.Bitcoin (BTCUSD) has been trading within a very structured Channel Up following the June 19 Low. Both charts are on the 12H time-frame, which illustrates remarkable similarities between the current pattern of 2022 and that of late 2019/ early 2020 following the COVID bottom. As you see at the moment, the price has turned the 12H MA50 (blue trend-line) into a Support, with the 12H MA200 right above, posing as the Resistance. The 1W RSI has just crossed above its MA (yellow trend-line) putting us potentially in the exact same position as late April 2020. As you see, BTC was also within a Channel Up at the time that eventually broke above the 12H MA200. However due to the instant recovery on the March 13 2020 bottom and the price jump attributed to the expectation that the trillions of USD printed will keep the economy moving from the lockdowns, that Channel Up was formed much higher than the current one, which is technically a Bear Cycle bottom. Typically their transition is slower. I have plotted the 2020 recovery sequence on today's price action in order to make one possible projection. As you see, many aspects on the two patterns are similar: both had their MA50 and MA200 cross three times before the bottom, both got rejected on the 0.786 Fibonacci, their Lower Lows were roughly on a -35° angle and both rebounded on the 1W MA300 (red trend-line). Do you think we will have a similar recovery to that of post COVID? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSDLong
by TradingShot
17
Temporary bounce up to 24k and then back down again? Continuation of my idea from yesterday where I called the top of the rising channel. A small bounce up from the center of the channel is possible like we did last time, perhaps up to 24k before treading back down. Still overall bearish and expecting to break the channel maybe within a week or so to the downside. I think people have not fully appreciated the monetary tightened environment we're in. Nearly everyone, both retail and institutions and corporations were credit addicts for the past decade and more. Everyone was already overleveraged. People have not saved up money for higher interests or inflation events like this one. At least for now, money will not be flowing into crypto or equities. Nor have I really heard much talk about the absolutely unprecedented disaster coming for world food prices and security. 12% of the world's calories come from Ukraine and Russia's grain and oil seed exports. 25% of fertilizer as well (which increase yields 30-50%). Conservative estimate maybe around 28% of the world's calories will not make it into markets. Africa and Middle East will have famines while food prices everywhere else will skyrocket. This isn't even fear porn and calling it that and not doing something now about it will lead to a lot of needless suffering. 2023 looking grim if we don't do anything to reverse this, my guess is we'll try half-heartedly and fail. Stay safe and love one another. Not trading or financial advice.
BITSTAMP:BTCUSD
by kievanrusbazaar
1
BITCOIN correlation with Nasdaq on market bottoms.Rally imminentThis is a simple long-term analysis on the 1M (monthly) time-frame, comparing Bitcoin (BTCUSD) to Nasdaq (NDX), with a focus on their market bottoms. On the left chart I have Bitcoin's price action with Nasdaq on top of it (green candles) and on the right, Nasdaq alone. Both have their respective RSI sequences below them. As you see, BTC has been (naturally) following closely the tech index over its years, being a technological breakthrough itself. What's even more interesting, is that during every BTC Bear Cycle, Nasdaq only pulled back later (and some times much later) into the Cycle. This somewhat validates our belief that the true top during BTC's current Cycle has been in April 2021 and not November 2021, which coincidentally was when the Nasdaq topped and started correcting. On July's monthly candle, we saw a strong reaction on both assets. Note that this is the first 1M green candle after three straight monthly losses. Nasdaq in particular hadn't seen this since December 2018. So right now the two seem to be in sync and the positive news for Bitcoin come from the NDX's long-term behavior. As you see on the right chart, July's rebound came after June made a (near) bottom on the 1M MA50 (blue trend-line). Such rebounds following near hits on the 1M MA50 have been the ultimate buy entries on Nasdaq since the recovery started after the 2008/09 Housing Crisis (more specifically since July 2010). As a result it is much more likely that this is the start of a new long-term rally on the tech index. With its correlation with Bitcoin being so tight at the moment, this is more likely to be the start of the new Bull Cycle as well. Last but not least, notice that both on BTC's and NDX's 1M RSI sequences, the price is currently retesting the prior Support as a Resistance. A break above it is technically a very bullish sign. So do you think that the Nasdaq can now drag Bitcoin to a new powerful rally? Feel free to share your work and let me know in the comments section below! P.S. Because the chart on the left has two assets together, it may appear distorted based on your screen's/ browser dimensions. The original looks like this below, so if yours doesn't, adjust the vertical axis in order to make it look like this and better understand what is illustrated: -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSDLong
by TradingShot
6
Bitcoin PI Cycle Indicator - MAs with 195% distanceHow would you rate the entry points (yellow cycles) for Bitcoin when you look at the naked chart (see below in the comments)?? We got quite nice entry-points for Bitcoin with less or no more downside every time when the PI Cycle Indicator MAs had a distance of 195% Of course that is no guarantee for the future and the MAs distance was higher at some points... ...but the probability that Bitcoin is near a bottom is not small looking at these facts in the chart Tell me your opinion about that dear Crypto Nation 😎 *not financial advice do your own research before investing
INDEX:BTCUSDLong
by Crypto4Everybody
1
BITCOIN bottomed and prepares the post summer rallyAn increasing number of long-term indicators have been showing lately that Bitcoin (BTCUSD) is past its bottom for this Bear Cycle. On this analysis I am shifting to an even longer-term time-frame, the 4W, using an overlooked but often very powerful indicator: the Williams Alligator. During the past two Cycles, the bottom was formed when the green trend-line (lips) crossed below the red trend-line (teeth). On both of then that took 15 bars from the Top of the previous Bull Cycle. Then the green trend-line Bearish Cross below the blue trend-line (jaws) ushered the Accumulation Phase and it wasn't until the red trend-line crossing below the blue that we had the final signal of the first strong rally of the new Bull Cycle. This time the Green/ Red Bearish Cross took place on the current candle, 17 bars this time from the top. The Green/ Blue Bearish Cross has been formed on the September 12 candle, while the Red/ Blue on November 07 2022. As result this prints a quite reliable roadmap on how BTC's price action might trade in the coming months. It basically suggests that by late October, Bitcoin could be ready for a strong end-of-the-year rally. At the same time, we shouldn't ignore the, always reliable on long-term projections, RSI indicator. This shows that it hit the Support, which has formed the bottoms of 2014 and 2018, two candle's ago and is now rebounding. Additional strong information is that when the RSI broke above its MA (yellow trend-line), the rally started. Do you agree with the Williams Alligator that the bottom is behind us and we've entered the Accumulation Phase of the new Bull Cycle as BTC prepares for a Q4 rally? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
16
Bitcoin bull run when DXY tops out ??!!Bitcoin bull run when DXY tops out ??!! Look at the last BTC behavior when the US Dollar Index left the overbought area on the weekly RSI We had a 140 weeks bull run to the next cycle top - the BTC price distance to the long MA was ~222% (green line) These days DXY left the overbought area on the weekly RSI again - the distance to the long MA is ~222% Coincidence... sure!!! ;-) Tell me your thoughts on that possible BULL Scenario *not financial advice do your own research before investing
BITSTAMP:BTCUSDLong
by Crypto4Everybody
BTC market overview for July 28The market is in the uptrend on the Daily timeframe starting from July 19 after breaking through $21,955 - the upper border of the resistance. The correction came to an end yesterday, and the market is rising now. This correction formed another resistance with the borders of $24,280 - $23,390 This price zone is the target for the bullish movement after the correction is finished. And we see that the price has already hit this zone Scenario 1 : The market continues to go up, and breaks through the resistance. The next target is on the highs of June 7 - $31,965 - $31,400. Scenario 2 : The price bounces from the resistance and the correction starts Scenario 3 : The market reverses and the bearish trend begins. Signals to buy are relevant until the market is above the support . The nearest support was formed yesterday.
BITSTAMP:BTCUSDLong
by JIexa1701