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BTC Fractal - 3 Reasons why ATH is still COMINGI've been saying for some time now that the real ATH is still ahead of us. I base this on a few points of observation. First, the Elliot Wave Theory: Then we're taking a look at an inverse H&S pattern observed on the daily: Another bullish point to consider is that we have been able to hold above 60k successfully, showing that buyers are scooping up lower entries and putting pressure on bears. Historically, it is considered bullish for the price to consolidate under a resistance zone. Our technical indicator is also overwhelmingly bullish. After a cooldown from being "Overbought", we're now ready for another impulse wave up. And lastly, from a logarithmic view, BTC still has room for growth considering we haven't "peaked" out yet: Note that here, I'm not intending to say we're going straight to 400K with the next impulse wave. Rater, it is a multi-year outlook on how BTC could grow to much higher prices. In terms of the correction, we're seeing bullish indicators on the price and so it SEEMS that the pullback may be over and we're ready for another impulse wave up (3 steps). I used WXY to demonstrate how it legs up in three unique phases, on top of the normal Elliot 5 waves. And so it is important to note that even if we do fall lower to continue down with a correction, as long as we do not fall LOWER than the previous point X (as seen on the fractal in green) we are still very much in a macro bullish cycle. ___________________________ BINANCE:BTCUSDT MEXC:BTCUSDT
Long
by CryptoCheck-
5
Bitcoin Rebounds To 65K As Correction May Be OverBitcoin rebounds strongly to 65k area, which can be signal that correction may be over from technical perspective and by Elliott wave theory. We have been talking a lot about a corrective decline in the Crypto market in the past weeks. We also talked about Bitcoin ahead of the halving and we also shared a free chart back on April 15th, where we mentioned and highlighted a higher degree wave 4 correction within ongoing bullish cycle. As you can see today, after a slightly deeper corrective decline, Bitcoin is bouncing strongly which indicates that wave 4 correction may be over at the ideal 38,2% Fibo. retracement near 56k support. So, be aware of a bullish continuation within wave 5 of III that can send the price back to all-time highs towards 75k-80k area, just watch out on short-term pullbacks.
BITSTAMP:BTCUSDLong
by ew-forecast
ATTENTION !! WE ARE ENTERING A LONG-TERM BEAR MARKET !!A beautiful example of cup&handle pattern. I think the bottom expected by the market will be around 58k. (If it fall, i will buy the dip) While everyone is afraid, the brave ones usually win more. My Bitcoin target for 2025 is 150k. What i share here is not an investment advice. Please do your own research before investing in any digital asset. Never take my personal opinions as investment advice, you may lose all your money.
by traderisso
2
BITCOIN: A Volatile Journey Towards New HeightsBitcoin (BTC) has always been synonymous with volatility, and recent market conditions are no exception. Currently priced at $67,700, Bitcoin is capturing significant attention as it hovers around this pivotal point. The market sentiment is mixed, with expectations of potential pumps, possible rejections, and opportunities for buying at lower prices. As we stand a few weeks post-halving, the anticipation of new all-time highs is palpable among investors and analysts alike. Historically, Bitcoin has shown a tendency to reach record prices following a halving event. This pattern fuels optimism that another bull run could be on the horizon. However, caution is warranted. Should a price drop occur, it is unlikely to last long. The underlying fundamentals and increasing institutional interest provide strong support for Bitcoin’s value, suggesting that any dips could be temporary and present attractive entry points for both new and seasoned investors. In summary, Bitcoin's journey remains as thrilling as ever. With the current price point being a critical juncture, the market could see significant movements in either direction. Investors are advised to stay vigilant and consider both the opportunities and risks in this dynamic environment.
BYBIT:BTCUSD.PLong
by Gokic
Spotting the REAL Bitcoin ATHLet's talk about an ambiguously overlooked elephant in the crypto room, THE MINERS . Bitcoin miners hold the most influence over the crypto market, despite the humble spotlight casted on them compared to other players like the exchanges and the ETF distributors. What people really miss is the fact that miners HAVE to make the most raw profit , there is no ATH, no bull-run, no real surge unless Bitcoin miners make more profit than us! So let's get right into how Bitcoin miners and the costs involved in the mining process could and has affected the price of Bitcoin during previous cycles. Based on my research, Bitcoin surprisingly NEVER has dipped below the average mining cost during a bull-run. During mid April 2021 , Bitcoin printed a new ~65000 ATH before starting a correction period that terrified investors. And if you were there back then, you'd remember how this correction was brutal to new traders. However, after two weeks of shaking the hands, Bitcoin started forming a descending channel week after week, until the price touched the golden FIBONACCI level (61.8%) at ~28600 , which happened to be only ~2000 Dollars away from the average mining cost at that time, which was ~26500. Briefly after, Bitcoin broke out of the descending channel and started surging towards its REAL ATH, ~69000 . Now, you might ask what does that have to do with the current cycle? Well, you're absolutely right! This cycle is completely different , because the average cost of mining Bitcoin is at RIDICULOUSLY crazy ~57000 level ! And such extremely high production cost begs for a serious consideration of the validity of ~73000 as a REAL cycle ATH. Do we really think that the current ATH is making miners enough profit? I personally don't think so, especially after the price retested the ~57000 level (which happens to be the current average production cost of Bitcoin) days ago and rebounded from it. It only makes sense to expect Bitcoin to print at least 70% profit for miners who produce Bitcoin at this point in time, especially after the halving event. And predicting a deeper correction where miners would print LOSSES instead of profit during the BULL MARKET wouldn't be a sensible preposition. It's extremely important to also mention that during the last cycle, Bitcoin NEVER dropped below its average production cost level until the bear market started . In fact, dropping below that level might have been one of the most significant causes of the bear market to begin with. Conclusion: The bull market is exactly when Bitcoin NEEDS to make miners profit, it's why mining is functional, especially for small mining businesses that can't afford to keep their gear running without cyclic profit. Bitcoin is currently rebounding from a price matching its current average mining cost after its post-halving correction. And based on the info in this brief research, this level should be where Bitcoin starts surging towards a new ATH. During previous cycles, miners printed at least 100% profit after the halving events. Will history repeat itself? Will the ~57000 price level be the final rebounding level before making a new ATH of at least 100000? Let's see! Note: This was an exploration of a potential scenario based on the current context and state of the market, not financial advice.
by OmarsMess
2
BTCUSDT - 1H Sell is ready!This 1-hour chart for BTC/USDT shows that Bitcoin recently entered a significant liquidity zone, where it hunted stops and captured liquidity above the bearish resistance zone. Despite these efforts, the price action reveals a noticeable weakness among buyers, as indicated by the lack of follow-through to the upside. This suggests that the upward momentum may be waning. Given the current setup, Bitcoin appears poised for a potential downward move. The price has repeatedly tested the resistance zone without success, indicating strong selling pressure. Traders should watch for a break below the lower trend line of the ascending channel, which could signal a further decline towards lower support levels. This chart highlights a critical juncture where the price action could reverse, providing a potential shorting opportunity for traders if the bearish momentum takes hold.
Short
by Sober_Trading
Two divergences at the same time in #BTCUSD chart#bitcoin has been proceeding in ascending channel. 2 divergences occured while #btc moves in LTF: 1- Hidden bullish RSI divergence (Green) 2- Regular bearish RSI divergence (Red) Hidden divergence has been playing out after the bounce from ichimoku cloud and continuation is expected till the price reaches 69K or may be even 71K. Also there're great liquidations in these levels. If CRYPTOCAP:BTC claims 69 - 71K and liquidate shorts, then it's likely to be expected that bearish divergence may take the play with minor correction wave or even a dump. If price breakouts above 74K, bearish divergence will be postponed or invalidated, but ascending channel pattern will be secretly on the play. NOT FINANCIAL ADVICE. DYOR.
by naphyse
Bitcoin: 64K Test For New Longs.Bitcoin has followed my anticipated scenario nicely over the recent two weeks (it doesn't always agree). As I have written in my previous two articles, the 64K and 68K resistance areas are potential take profit zones, NOT locations to put on more risk. Price action appears to be confirming that and is attempting to retrace off the 66K area minor resistance (See upper arrow). While this price action appears to be bearish it must be considered in light of the broader structure. Since the March peak, Bitcoin has been in consolidation mode (upon completion of 5 waves). This structure represents a broader HIGHER LOW with 56K established as the bottom of the range. This implies that the broader trend continues to be BULLISH even though recent price action has yet to push major resistances. This is a key piece of context because it helps to shape risk and profit potential for the near future. How you navigate this will depend on your risk tolerance and trade style but no matter how you look at it, current prices are unattractive for longs on most time horizons in my opinion. The scenario I anticipate this week (see illustration) is a minor retrace to 64K (old resistance/new support) followed by a momentum continuation into the 70K resistance. If a long confirmation appears (Trade Scanner Pro), this can play out well for traders on shorter time horizons. While I am optimistic in this regard, I also consider that price CAN break 64K and test 60K again. There is NO way to forecast how the market will behave, ESPECIALLY the longer the time horizon. Managing risk and capitalizing on movements EFFECTIVELY requires knowing how to evaluate market structure in order to stack probabilities. Based on this context if I can determine the trend is bullish for example, I can estimate that supports have a greater than 50% chance of staying intact. I can also expect long signals to have greater than 50% chance of generating some amount of profit, but there is no way to anticipate how much exactly (markets are MOSTLY RANDOM). Adjusting to price action and looking for signal conflicts or using a trailing stop helps to improve decision making in such an environment. If you get stuck on ideas, cling to hope or consume too much internet, you will soon learn how ineffective this is. The market is a great teacher but the lessons are often VERY EXPENSIVE. Thank you for considering my analysis and perspective.
BITSTAMP:BTCUSD
by MarcPMarkets
32
$BTC price may do something like this in LTF#bitcoin #btc formed both ascending wedge and bearish RSI divergence. A deviation to 68 - 69K is expected. Hard declination from ~69K region will cause this bearish patterns to play out. If bearish patterns play out, the target will likely be the retest zone of the #btcusd breakout price. The invalidation: If #btcusdt price breaks out above 70K region and 2 3 daily closings happen then will likely aim liquidation levels at 73 - 75K and new ATH. Not financial advice. DYOR with your own knowledge and strategy.
by naphyse
#Bitcoin [ Inverted Head And Shoulders - Short Squeeze Combo ] BTCUSD has printed an allbeit slanted yet very nice inverted head and shoulders that has retested and played out perfectly so far. The measured move coincides with multiple high time frame short liquidation levels (Not marked on this chart) with the biggest level being a 6 MONTH high volume liquidation level at $74,045. This strong of a #shortsqueeze could easily amplify the measured move, which I have extended, using the 150%-161.8% fib levels. The extension also lines right up with where all short liquidation levels end on the Coinglass heat map.
COINBASE:BTCUSDLong
by DoozerInvest
BTC possible scenarios#BTC had a nice run up and currently facing a resistance at 66676$ 1. For bullish trend continuation we should see BTC breaking up above the resistance at H4 , in this case the price will pump until next resistance zone at 70887$ . 2. Otherwise, high chances to see BTC testing support zone at around 64482 - 63474, where we can look for long position. 3. Bearish scenario would be if BTC closes below 63400$ on H4 TF, in this case BTC may test one of lower levels again: 60508, 59026, 57246
by vazitrades