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Bitcoinanalysis

Bitcoin StrugglingHello traders, here is my view for btc at the moment : Bitcoin was in bearish move since May 5th with increasing volume + open interest and convergence with RSI momentum in daily timeframe, this is a confirmation for strong bearish move. What I expect : BTC weekly closed below 26900 next stop is 25k area BTC weekly closed above 27250 next resistance is 28k area But BTC would not go above 29k IMO since there is a strong channel resistance. I personally bearish for BTC since the abc correction target is on 25k area which is psychological number + fibonacci retrace confluences.
Short
by PakRT
#Bitcoin Slips Below Critical Support, BTC Traders Targeting $25Past Performance of Bitcoin On May 11, Bitcoin prices fell lower, dropping below the FWB:27K level. BTC is below the primary trade range, distributing and under pressure at spot rates. Bears have the upper hand, and sellers can look for entries, riding the emerging trend with targets at crucial support levels in the short term. #Bitcoin Technical Analysis The path of least resistance is southwards, reading from the performance in the daily chart. BTC prices are trending below the wedge and April 2023 lows in a breakout formation. Moreover, bear bars are beginning to band along the lower BB, suggesting that momentum is shifting to support sellers. Based on this, traders might start looking for entries on any attempt higher toward $28.3k and the April 2023 lows. Targets will be FWB:25K and $21.5k in the days ahead. Any reversal, pushing prices above $28.3k and $30k, will nullify this preview. What to Expect from #BTC? After a 56% rally from mid-March, BTC is cooling off. This retracement precedes a consolidation from late March through April when the coin soared toward $31k. Still, as BTC falls, whether sellers will double down in the days ahead will shape the medium-term trend. Resistance level to watch: $28.3k Support level to watch: FWB:25K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
Bitcoin Wants 28.8! Will the 3 wave pattern playout?Bitcoin Swept the lows yesterday and reached out target 26.8! I am not yet convinced that we are going lower WITHOUT sweeping the high ~28.8 ( our supply zone) so today with PPI data we could see the move coming. SPX yet has to fill the upper gap, it could touch it today and that will get btc to our target as well then SPX could start bleeding till it gets to the lower gap NQ1 Has bearish Div all over the place.And Ive talked about how to determind a supply or demand zone. 3 wave pattern = Dump,Pump,Dump . the first dump happend and we are wating for the two next move. Thanks for all your support- means a lot to me.
Short
by pcmonk
#Bitcoin Dumps, Breakout below $27k Highly LikelyPast Performance of Bitcoin On May 10, Bitcoin prices crashed to as low as $26,900. However, prices recovered with a Doji bar forming. Still, the coin is lower when writing, within a bearish formation, with a high probability of even more losses in the sessions ahead. For now, traders should watch out for how prices react at the immediate support of $27k. #Bitcoin Technical Analysis There are a series of lower lows at spot rates, and Bitcoin is no exception. Specifically, in the 1hr chart, prices are within a bear bar of yesterday's NY session. Therefore, sellers have the upper hand unless there is a sharp expansion above $28.3k. For this reason, traders can look for shorts in lower time frames However, a breakout below yesterday's lows and FWB:27K would provide better entries for risk-averse traders. In that case, BTC may slip to as low as FWB:25K in the coming sessions. What to Expect from #BTC? As mentioned earlier, Bitcoin is fragile, and sellers are pressing on. While aggressive traders can look to dump on any attempt higher towards $28.3k or May 10 highs, there are better entries once there is a comprehensive close below April lows. Resistance level to watch: $28.3k Support level to watch: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Volatility Drops, Will April Support Line Hold?Past Performance of Bitcoin Bitcoin prices are drab, trading inside a narrow range in a predominantly bearish formation. Although the bears of May 8 weren't confirmed, the failure of bulls to push higher points to weakness. As it is, the immediate support line remains at $27k. Conversely, how prices react at $28.3k and $30k may shape the short-term trend. #Bitcoin Technical Analysis Overall, the trend is bullish from a top-down preview. Sellers are pressing lower but have failed to break below the multi-week support at $27k. This line also flashes with April 2023 lows. If broken, the coin could drop to as low as FWB:25K in a bear continuation formation. All the same, this breakout should be with expanding volumes. Notice that prices are generally in range after the expansion of mid-March which also had high trading volumes. The current consolidation has low participation levels, pointing to possible cautious traders. What to Expect from #BTC? The upside momentum remains, but it is vital to see how prices react at FWB:27K and $28.3k. Though prices dropped on May 8, the failure of follow-through at the back of generally lower trading volumes is a concern. A breakout below the immediate support line would break the bulls' resilience, allowing for the next leg down. Resistance to watch out: $28.3k Support to watch out: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#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