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Bitcoinanalysis

#Bitcoin Slips, May Break Below $27k Marking April 2023 LowsPast Performance of Bitcoin Bitcoin is down 4% on the last trading day, dropping below $28k, and inching closer to FWB:27K , an important support level. This reaction points marks April 2023 lows. If lost, BTC may break out, slipping towards FWB:25K in continuation of losses posted from April 19. #Bitcoin Technical Analysis In the daily chart, BTC is down 12% from April highs, dropping lower as the upside momentum fades. Even though buyers are in control from a top-down preview, a head-and-shoulder pattern has formed in the daily chart. Primary support is at FWB:27K , marking April 2023 lows. Therefore, with sellers pressing on, albeit with low volatility since BB are nearly horizontal, traders can watch out for how prices react at $27k. Ideally, a breakout with expanding volumes could see BTC drop to as low as $25k. Any upswing above $28.3k and $30k, reversing recent losses, will invalidate this bearish outlook. What to Expect from #BTC? Buyers are confident that prices will recover. Even so, losses have been steep, and the coin is at the cusp of breaking a critical, multi-month support level. Any drop below this line may mark the beginning of a leg down, pressurizing coin holders. Resistance level to watch out: $28.3k Support level to watch out: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
Bitcoin Price Analysis: Potential Volatility SpikeHello dear TradingView community, it's Vestinda back again with an insightful analysis of Bitcoin's price movement. Today, we will delve into the current market conditions and identify key signals that may lead to an upcoming volatility spike. As always, our analysis aims to provide you with a positive and professional perspective on Bitcoin's price action. Price Structure and Triangle Pattern: On the daily timeframe , we can observe a fascinating price structure taking the form of a triangle. This pattern has been gradually forming, with the price converging towards the apex. Triangles are widely regarded as neutral price patterns, indicating that a breakout can occur in either direction. As traders, we must acknowledge the balanced nature of this pattern, assigning an equal probability of around 50% for both upward and downward breakouts. MACD Indicator: To gain further insights, let's turn our attention to the monthly timeframe and examine the Moving Average Convergence Divergence ( MACD ) indicator. Remarkably, this indicator is on the verge of a bullish crossover this month. The imminent bullish signal boosts the likelihood of an upward breakout from the triangle pattern. Considering this development, we can assign a conservative estimate of a 20% chance for an upward breakout, emphasizing the potential for positive price movement. RSI Indicator: Additionally, we have analyzed the 8-hour timeframe and closely observed the Relative Strength Index ( RSI ) indicator. It is noteworthy that the RSI perfectly mirrors the triangular shape of the price pattern. Such synchronization between price action and the RSI strongly suggests an increased probability of a volatility spike in the near future. This alignment provides further evidence to support the notion of an imminent breakout. Risk Management: While the prospects of Bitcoin's price movement appear promising, it is crucial to approach trading with a cautious mindset and implement effective risk management strategies. By setting appropriate stop-loss protections and managing risk, you can safeguard your capital and navigate the market confidently. Target Zones: Identifying potential target zones is essential for devising effective trading strategies. Currently, the significant support and resistance zones are situated between $22,000 — $ 24,000, and $ 32,000 — $ 34,000, respectively. These zones have historically displayed notable price reactions, making them crucial areas to monitor closely. Bitcoin's price analysis reveals a compelling narrative of an impending volatility spike. The triangle pattern, coupled with the MACD indicator's potential bullish crossover on the monthly timeframe, provides a positive outlook for Bitcoin's price. Additionally, the RSI indicator's correlation with the triangular shape further strengthens the case for increased volatility. However, it is imperative to exercise caution, employ risk management measures, and monitor critical support and resistance zones. By combining a positive mindset, professional analysis, and prudent trading practices, we can get impressive results! Stay tuned for further updates, and happy trading!
INDEX:BTCUSD
by Vestinda
#Bitcoin in a Wedge, BTC Has Vital Support at $27kPast Performance of Bitcoin Over the weekend, Bitcoin prices moved lower. The sharp drop on May 6 wasn't confirmed on May 7. As such, the coin remains within a $4k trade range with resistance and support at FWB:31K and FWB:27K , respectively. Still, the uptrend holds, and prices are now inside a wedge after sharp gains from mid-March 2023. #Bitcoin Technical Analysis As it is, bulls are in control. With prices inside a bear flag, traders are watching out for how prices will react at FWB:27K on the lower end. On the upper end, the resistance trend line, coupled with immediate resistance levels at $30k and FWB:31K , is important. Unless there is a breakout, traders should watch from the sidelines. Since the primary trend from a top-down preview is bullish, gains above $30k and, ideally, FWB:31K could propel the coin toward $35k. Conversely, losses below FWB:27K may see BTC slip to FWB:25K in a bear continuation from the second half of April. What to Expect from #BTC? Traders are cautious, reading from decreasing participation levels. Even as prices move inside a wedge, trading volumes are relatively low. Traders can wait for trend definition with bulls with the upper hand considering gains of the past few months. Resistance level to watch: $30k Support level to watch: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Flat-Lining below $30k in a Possible DistributionPast Performance of Bitcoin Bitcoin is uneventful when writing. The coin is generally lower, trending below $30k. However, since it is above $28.3k and FWB:27K is still a valid reaction point, traders should wait until a convincing breakout. The spike, in either direction, should be with rising volumes. #Bitcoin Technical Analysis BTC prices are inside the Doji bar printed on April 26. In the short term, sellers from April 19 to 21 define the immediate trend. The resulting consolidation has capped the uptrend and prevented sellers from causing more damage to bulls. Therefore, while the upswing remains from a top-down preview, traders can wait for a clean breakout below FWB:27K or above $30k, and preferably FWB:31K , before engaging. What to Expect from #BTC? The consolidation is sapping momentum. In a possible distribution, sellers have the upper hand from an effort versus result preview considering losses from mid-April. FWB:27K is a critical buying zone that, if lost, could see BTC crater to FWB:25K in a bear continuation pattern. Resistance level to watch: $30k Support level to watch: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Accumulating, Upside Capped At $31kPast Performance of Bitcoin Bitcoin reacted to fundamental events in the United States and stayed above FWB:27K and $28.3k. When writing on May 4, the uptrend remains, but sellers have a chance since buyers didn't reverse recent losses. Immediate support is at $28.3k, while bulls must break above $30k before the uptrend resumes. #Bitcoin Technical Analysis In the daily chart, like in small time frames, BTC is in a tight trade range. In a bearish breakout formation, traders expect BTC to edge lower in sync with the May 1 bear bar, further confirming losses of April 19. Prices remain inside the bear flag, and $30k limits the uptrend. Conservative, risk-on traders can wait for a clean break below FWB:27K before riding the emerging trend. Conversely, until there is a convincing break above the current flag and later FWB:31K , the bear run from the second half of April is still valid. What to Expect from BTC? The sideways movement of the coin could be accumulation or distribution depending on the breakout direction. From a top-down preview, FWB:27K and FWB:31K are critical reaction levels. Resistance level to watch out for: FWB:31K Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
My Technical Analysis: Bitcoin; triangle; 2 levels; 3 rulesAnalytics provides a clear understanding of the market. Technical analysis works if applied according to the present rules. Many traders do not know technical analysis, do not understand its essence, and do not use large timeframes. The main problem is a lack of quality knowledge and a great desire to act. After studying my chart you will understand what to expect. My subjective opinion: 1) clear triangle. Exit and consolidation in one of the sides can be considered to open trades or to correct their own medium-term plans. 2) "need to break" levels. In case of a breakout and qualitative fixing you will expect the achievement of the mentioned zone with an increased probability. 3) study the chart, this is a demonstration of how technical analysis works. You should be able to do the same! 3 rules: 1) the market is understandable only when patterns and other phenomena are formed 2) Even after the formation of the pattern you cannot have a position because the conditions for trading on the basis of the pattern must be fulfilled in order to open a deal 3) Study big timeframes, in order not to lose your money
INDEX:BTCUSD
by Gor_Union
#Bitcoin Recovers but Remains Bearish Below $30kPast Performance of Bitcoin Bitcoin prices bounced back on May 2, reversing losses. Bulls are finding reprieve with the coin 2% higher in the past 24 hours. However, the path of least resistance remains southwards in the short term. As long as prices are inside the bear bar of May 1, every high is an unloading opportunity for aggressive sellers targeting FWB:27K and FWB:25K in short to medium term. #Bitcoin Technical Analysis BTC is pulling back after sharp gains in the past four months. There are signals of weakness, but price action remains in a breakout formation. For now, traders can watch out for how prices react in the short term. With the primary support marked at FWB:27K , any high-volume loss below this level might trigger a sell-off towards FWB:25K , an opportunity for conservative traders. Still, aggressive traders can look to unload on every attempt higher but within the bear bar of May 1. Targets remain at FWB:27K and later FWB:25K if sellers press on. Any expansion above $30k cancels this bearish outlook. What to Expect from #BTC? Buyers are confident, but the current trend favors sellers. Still, the bounce on May 2 doesn't mean sellers have the upper hand. If anything, sellers remain in charge if prices are below $30k. Further losses below FWB:27K would draw in more sellers. Resistance level to watch out for: $30k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Crashes, Are Sellers Targeting $25k?Past Performance of Bitcoin Bitcoin is fast dropping, looking at how prices performed at the start of May. Presently, the coin is down 7% and within a bear formation set in motion from April 19. Critical support and resistance levels in the current setup remain at FWB:27K and $30k, respectively, following the drop below $28.3k. Overall, sellers have the upper hand in the short term even though the path of least resistance from a top-down preview is still northwards. #Bitcoin Technical Analysis Bears are in the driving seat following yesterday's losses, and aggressive traders may look to sell. Since the May 1 bear bar is engulfing and wide-ranging, traders can look to hitch the downtrend on every attempt higher below $28.3k. Immediate support is now at FWB:27K , marking April 2023 lows. Even so, for a more precise trend definition, there must be a high-volume close below FWB:27K for confirmation of sellers. As such, conservative traders can wait for this to print out before engaging, targeting $25k. Any unexpected surge above $30k and April 26 highs would cancel this preview. What to Expect from #BTC? Overall, the uptrend is firm, and BTC surged over 50% from mid-March 2023. As it is, primary support lies at FWB:27K , while resistance is marked at $30k. Although yesterday's bar may anchor the unfolding bear trend, a comprehensive close below the current trade range is vital. Resistance level to watch out for: $30k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
CRYPTO:BTCUSDShort
by Bitcoin_Analyzer
Bitcoin Analysis: consolidation pattern or warning?Today's focus Bitcoin Pattern – LH - Descending Triangle Possible targets – 29,664 Support – 27,200 – 27,000 Resistance – 29,664 – 30,460 Indicator support – MA sloping down Today’s video analysis is on Bitcoin after yesterday’s drop. Are we seeing a new momentum shift with a new LH or has price started to consolidate in a new price pattern? We have set out a few scenarios and breakdown the levels we are watching. Is it just sheer coincidence or did JP Morgan’s rescue of First National pull the hedge rug out from under Bitcoins feet? Thanks for stopping by. Good trading, and have a great day.
EIGHTCAP:BTCUSD
by Eightcap
2
Bitcoin Bottom SoonFrom the start, I thought 27k was unlikely to be a real bottom. And with real bottom I mean the bottom that would kickstart a new uptrend that would take Bitcoin back to 30k. So knowing that Bitcoin takes roughly 65 days to complete a daily cycle, the bottom of April 23 was not the real bottom. However, I believe that the next one is near. I expect it will happen around mid of May. Now at what prices can we expect that bottom? I think the worst case would be 25k. Because we're so close to the new bottom, timing the market at this point seems unwise. Especially if you do not have any Bitcoin yet.
BITSTAMP:BTCUSD
by FetchTeam
#Bitcoin Dumps after an Inverted Hammer Formed, Support at $27kPast Performance of Bitcoin Volatility spiked on April 30, temporarily forcing prices higher. Of note, volumes rose. However, this wasn't enough to sustain bulls. The result was an inverted hammer with the long upper wick pointing to the rejection of higher prices. The dump down pushed BTC back into range and anchored today’s liquidation in the Asian session. With BTC fast falling, the coin may drop below FWB:27K if bears maintain this pace. #Bitcoin Technical Analysis While the path of least resistance is northwards, there are concerns about the bulls’ strength in the short-term. Resistance remains at $30k while primary support at $28.3k is being retested. With the inverted hammer of April 30, it capped a solid performance in April but only for bears to cancel out gains of the last week of April. For now, traders can stay away from the charts until there is a definitive breakout above the current consolidation at $30k or $28.3k, ideally, FWB:27K , in the coming sessions. If buyers come on top, rewinding today’s losses, BTC may float to as high as FWB:31K ; an opportunity for buyers to ride the trend. Conversely, any rejection below FWB:27K as bears add to the current losses disqualifies the current preview, possibly forming the base for a leg down toward $25k. What to Expect from #BTC? Buyers of April 25 through 27 shape the present trend, reinforcing the uptrend. However, whether buyers will drive through depends on if BTC will hold above $28.3k and ideally $27k. Resistance level to watch out for: FWB:31K Support level to watch out for: $28.3k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
BTC/USD Monthly Chart - Volume POC AnalysisBTC/USD Volume Analysis - Bitstamp 1 month chart. BTC is still in a massive Ichimoku Y-Wave Pattern, which is like a western Broadening Wedge Pattern. BTC is also in a massive Ichimoku P-Wave Pattern, which is like a western Symmetrical Triangle or Pennant. BTC is also in a massive Rising Wedge Pattern. I have also added in various Support and Resistance lines on this chart as highlighted by the thin dotted straight white lines. Here is a closer look at this Bitstamp monthly chart: At the moment of typing this, BTC is still being hampered by its Key Resistance Area located with the dotted straight white lines with yellow shading. Note that on the month of 1st Feb 2023, BTC broke out of its Falling Wedge Pattern and successfully re-tested it as support, 1st on the month staring 1st Feb 2023 and 2nd on the month starting 1st Mar 2023. Looking at the Bollinger Bands we can see that the price is still under its Bollinger Bands Middle Band Basis 20 Period SMA on this month chart. Note that the Lower Band has started to curve back around straight. I have added a few FRVP (Fixed Range Volume Profile) indicators to every group of 3 one month candles on this visible chart, you can clearly see the various Points of Control (POC) for all those 3x one month candles which are indicated by the straight white line on each 3 month FRVP indicators. Looking at the month starting 1st Feb 2021, we can see that our Point of Control (POC) for those 3x one month candles is located at our UPPER Resistance/Support line of our Key Area of Resistance. If we look at the month starting 1st May 2022, we can see that our Point of Control (POC) for those 3x one month candles is located at out LOWER Resistance/Support line of our Key Area of Resistance. Looking at the Visible Range Volume Profile (VRVP), we can see where the Point of Control (POC) is for this charts Visible Range as highlighted by the Dashed straight white line. Looking at the Volume on this Bitstamp 1 month chart, we can see that this month’s Volume Bar ended above its 20 Period Moving Average. If we take a look at the Moving Average Convergence Divergence (MACD) we can see that the Red Histograms have consistently degreased in size since Sept 2022. The MACD Line (Blue Line) is indicating momentum is upwards and the MACD Line looks very likely to cross back ABOVE the Signal Line (Orange Line) on this monthly chart. If/when the MACD Line (Blue Line) crosses back above the Signal Line (Orange Line) it will create a new Green Histograms and a buy signal on this monthly chart for this indicator. When that happens it will be the first new Green Histogram since the month of 1st Dec 2021. Looking at the Up/Down Volume Indicator for this Bitstamp chart, we can see the difference between the buyers and sellers as indicated by the Delta Line in the Volume Bars. Note that this useful indicator takes into account the whole Candle Wick so the full Open and Close price and not just the Body of the Candle. If we take a look at the Average Directional Index (ADX DI) we can see that the Trend Strength hasn’t turned upwards yet with the ADX (Yellow Line) at 21.11 and note the DAX Line is still under its 9 Period EMA (White Line) which is at 26.34. Positive Momentum is sideways at the moment with the +DI (Green Line) at 22.05 and Negative Momentum is also sideways at the moment with the -DI (Red Line) at 19.06. A good sign to look out for on this indicator is when the ADX (Yellow Line) starts moving upwards and an eventually cross back ABOVE its 9 Period EMA (White Line) as well as an upwards trajectory for the +DI (Green Line) and a downwards trajectory for the -DI (Red Line) diverging apart form each other on this 1 month chart. As stated in my previous BTC post, the Price needs to successfully CLOSE ABOVE its Key Resistance Area and turn that area into Strong Support. So it seems there might be very interesting times ahead for BTC and the whole Crypto market, especially if we get a Buy Signal on the MACD Indicator if/when the MACD Line (Blue Line) crossing back ABOVE the Signal Line (Orange Line) on this 1 month chart. I hope this post is helpful.
BITSTAMP:BTCUSD
by TradingThroughTheLens
3
Bitcoin is about to flash insane short tradeHello, everyone! Bitcoin continues it's sideways move. The market is low volatile in the weekend, I expect the big move on the next week. Now we can see that BTC is trying to recover, but I suppose that this pump has the restricted potential. I have already told you that I don't believe that Bitcoin will be able to break $30k. I made this brave conclusion when the price was $29800😨. After printing the wave 1 to the downside in my opinion it's just a corrective wave 2 which is represented as ABC zigzag. Now we are in wave C, it has the potential approximately at $29500. This target is not obligatory for reaching, we can see dump from current. If BTC will reach this price level and print there the bearish reversal bar. I am going to close my Cardano short trade which has risk to reward 1:5 and enter trade for BTC becuase here we have much better risk to reward. The potential for the dump in wave 3 is at least $28k. Best regards, Ivan _______________________________ Follow me and never miss update👍
Short
by Skyrexio
8
Bitcoin Strong Sell Signal:High Possibility It Will Break 27.2K Hello and welcome to another Bitcoin analysis video. In this video, we will take a look at the recent price movement of Bitcoin, which surged to $29.8 yesterday before having a sell-off and retracing back up to fill the fair value gap. We will also use some technical indicators and chart patterns to predict where the price could go next and what are some of the key zones and levels to watch out for. Please Consider Supporting Me By Booosting,Commenting, following and sharing means a lot
BINANCE:BTCUSD.PShort
by pcmonk
#Bitcoin Remain Firm, Path Back To $31k?Past Performance of Bitcoin For a brief moment on April 26, Bitcoin prices soared to as high as $30k before flash crashing back towards $28k in what turned out to be a volatile NY session. At this pace, the spike in trading volumes and a Doji bar printing capped an evening of indecision. BTC prices contracted but recovered strongly early today as traders doubled down on the undervaluation of April 26. Since prices are above the $28.3k level and trading above the recent consolidation defined by the April 21 bear bar, the odds of BTC rising to $30k and FWB:31K remain amplified. #Bitcoin Technical Analysis Bitcoin prices are volatile when writing. The flash crash that unwound most gains posted yesterday saw BTC lose over $2k in an hour. Buyers remain in control above $28.3k, an endorsement for optimistic traders. For sellers of April 19 through 21 to take charge, there must be a convincing close below FWB:27K with the same rapidity as of April 26. In that case, BTC may drop to FWB:25K in a bear trend continuation formation. As it is, provided BTC is above $28.3k, aggressive traders can look to load the dips, targeting $30k and FWB:31K in the near term. What to Expect from #BTC? A Doji bar in the daily chart at the back of high trading volumes points to a balanced ecosystem. Still, BTC ended up higher, above $28.3k, confirming gains of April 25. This development has also been confirmed today following gains above $29k. For bears to take charge, BTC prices must first unwind gains of the past two days and slip below $27k. Resistance level to watch out for: FWB:31K Support level to watch out for: $28.3k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Rejects Bears, Will Bulls Build On Gains?Past Performance of Bitcoin Bitcoin prices recovered slightly on April 25, bouncing from around the FWB:27K primary support. While the boost was positive, BTC is still not out of the woods, and prices might collapse if there is no follow-through in sessions ahead. For now, important reaction lines remain unchanged at around $28.3k and FWB:27K , defined by the bear candlestick of April 23. Because of this state of affairs, BTC is still bearish, with the bear bars of April 19 through 21 shaping the immediate to medium-term trend. Overall, from a top-down preview, buyers have a chance though only after there is a sharp reversal above $31k. #Bitcoin Technical Analysis Looking at the general trend of the last four months, the path of least resistance is northwards. BTC might be down roughly 8% from recent peaks. However, buyers remain in control. For upward trend resumption, there must be a convincing break above the local resistance line at $28.3k. This would unwind losses of April 23, setting the base for another leg up for FWB:31K , especially if the breakout is with high participation levels. If not, losses below FWB:27K with similar rapid movement would cancel out the bullish outlook as BTC drops closer to $25k. What to Expect from #BTC? Buyers are confident, but their optimism will be confirmed if there are price gains above $28.3k towards $30k. Any contraction reversing recent gains might see BTC drop to critical reaction levels, especially February 2023 highs. Resistance level to watch out for: $28.3k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
CRYPTO:BTCUSDShort
by Bitcoin_Analyzer
#Bitcoin bear market Bottom 2022if we go back by time between bottoms and top and halving this is what we got if you know what i mean!! µ we are already in the final first half of the bear market, and i think now we are in the seconde (last half) the same time of the last bear mrket the bitcoin Dominance was at the same levels i expect big pumpto 60/70% on the dominance and big dump on the Bitcoin price ... im already in accumulation phase right now already invest 10% of my wallet, lets get the party start.
INDEX:BTCUSDLong
by Yassine_Houd
#Bitcoin Consolidates, BTC Finds Support at $27kPast Performance of Bitcoin There is no reprieve for Bitcoin bulls, looking at the arrangement in the daily chart. BTC edged lower yesterday and could likely dip in the sessions ahead unless there is a sharp recovery above $28.3k, clearing the highs of April 21. Meanwhile, traders are bullish because sellers didn't push prices lower below the FWB:27K support level yesterday. Since the immediate trend is dictated by the bear bar of April 19, the failure of sellers to follow through on April 24 is welcomed, at least for now. Traders should closely monitor how price action prints out within the above-defined ranges in the sessions ahead. #Bitcoin Technical Analysis The April 19 bar dictates the current formation. Follow-throughs in subsequent sessions capped with the bear bar of April 21 that shapes the immediate state of price action. Notice that prices are in range, inside the bear bar of April 21, with caps at $28.3k and $27k. Although bulls might be in the driving seat from the top-down preview, sellers are in control now. Still, participation levels are low. Therefore, if BTC crumbles below FWB:27K , confirming losses of April 27, ideally with above-average volumes, the coin might drop to the FWB:25K region in a retest. What to Expect from #BTC? Buyers will have a chance if prices continue consolidating. A recovery above $28k will be welcomed. For now, BTC is in a precarious position. Losses below last week's low may trigger another wave of solid sell-offs. Resistance level to watch out for: $28.3k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
CRYPTO:BTCUSDShort
by Bitcoin_Analyzer