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Bitcoinanalysis

#Bitcoin under Pressure, BTC Drops 10% from December HighsPast Performance of Bitcoin Bitcoin prices continue to consolidate in lower and higher time frames, sliding 10% from December highs. Even though buyers were expecting a strong close of the year, the path of least resistance is southwards. To demonstrate how cautious market participants are, traders must look at trading volumes. BTC trading volumes are 20 percent lower at spot rates than in early November. Prices are wavy as a result, with no definite trend direction. #Bitcoin Technical Analysis From the daily chart, traders are hopeful. Their sentiment, however, diverges with the immediate trend. Bulls have failed to build on gains posted on December 20. The bar might be wide-ranging and trading volumes above average. Still, the failure of traders to follow through means bulls didn't sustain the upside momentum. Therefore, while traders are bullish, every high below $17.5k is an unloading opportunity. There could be more losses if BTC breaches $16.5k and the November 30 bar. On the reverse side, gains above $17k might reinvigorate aggressive, risk-off bulls. Conservative traders must wait for a complete reversal of December 15 and 16 losses above $18.5k before loading the dips. What to Expect from #BTC? Traders are cautious, and prices are suffering at spot rates. As sentiment influences price action, traders can practice caution. This means until there is a decisive close above $18.5k or $15.5k, conservative traders can initiate positions, posting orders with the emerging trend. Resistance level to watch out for: $17.5k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
#Bitcoin Consolidates Inside a $3k Range, BTC Traders ConfidentPast Performance of Bitcoin Bitcoin remains within a narrow trade range and barely added on December 21. As it is, buyers are in control in the short term. Accordingly, as long as prices are above $16.5k, aggressive traders can look to swing longs, aligning with gains of December 20. Even so, the primary trend remains southwards as long as BTC is below $17.5k. #Bitcoin Technical Analysis BTC prices are inside a broader $3k consolidation with caps at $18.5k and $15.5k on the lower end. Even though there are higher highs relative to the lower BB, buyers are yet to conclusively reverse the losses of earlier November. Therefore, the November 8 and 9 bearish engulfing bars define the current formation, placing sellers ahead. Aggressive may find entries, expecting more gains in the short term. However, losses below this week's lows may heap more pressure on BTC, triggering a sell-off back to $15.5k. What to Expect from #BTC? Traders are confident, expecting prices to recover after over 65 percent dips from November 2021 highs. In the days ahead, BTC may float towards November 9 highs at $18.5k if there is confirmation of gains posted on December 20. If not, BTC could crumble as the uncertain market offload the coin. Resistance level to watch out for: $17.5k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
Bitcoin could rise above 20k in medium termBack at the beginning of November, Bitcoin has broken under important 18k zone support and had 2 or 3 spikes under 16k. The drop was expected, considering that it was the fourth month of consolidation before the break. However, the main crypto didn't continue to drop as low as one would expect and instead bounced back up from 16k. This for me is a bullish sign and a relief rally could come next. Technically, 16k offers support, and 18k and slightly above zone is resistance. In the eventuality of a new rise and test of this resistance, I expect a break above, and bulls could look for a rise to the next important level at around 21k.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
4
Bitcoin TA from 2010 to 2022 - Based on previous Patterns/cyclesAs I said I will post an idea different from Elliott wave theory. Not a financial Advice, this is my personal opinion or idea. This Bitcoin Technical Analysis is purely based on studying its own previous trends/cycles and predicting the future cycle. This is not based on Elliotte wave Theory nor am comparing it with DXY or S&P or Dow, next time I will make an idea based on correlation with DXY/Dollar. Before proceeding I will tell an interesting story " The Story of Zombie and chickens". A lazy zombie maintains the chicken farm, since chickens grow and breed faster so the numbers are keep growing n growing. Throughout the year zombie keeps eating chickens and he keeps growing bigger n bigger. Since the zombie is very lazy, he needs help and maintains a dog to look after all the chickens. As per now for every 4 years or so zombie gets seasonal disease and to get recover himself, he eats chickens in a massive number, not all though. Dog also keeps eating for his survival, but after all its dog, so when the dog gets older and unable to handle the chickens, zombie appoints a new young dog to take his place. The conclusion of this story is "Zombie never dies and keeps growing n growing, chickens are born kill and the dog keeps replaced by a new dog". Ok let's proceed with our Analysis. Different traders visualize the charts in different ways based on their own perception. Chart is the emotions of all traders, it's like map of treasures. I see many people use trend lines, Fibonacci, moving averages, Ichimoko or other technical indicators and many other. Even I use many of these, but for this am not using averages or Fibonacci or Ichimoko. Am using RSI and money flow index indicators and triangle pattern for this. 1.Explaining the Patterns or drawings which I created: Chart patterns in longer time frames, price moves in waves or some kind of curves rather than straight lines/trendlines. I made some concentric circles where the price is respecting more (basically support n resistances), that doesn't mean the price goes in a circular fashion and goes back to its origin - zero. Always trend breaks (upside or downside) so may be at some point of time it may break out this circular channel and form a new trend of circles. I created the triangle pattern in this way --> (A)previous ATH-> to ->(B)current ATH-> to ->(C)lowest bearish Point-> to -> Highest counter move). For each Bull of Bitcoin (with in 2yrs or so), it is forming a kind of symmetrical triangle with ABCD waves inside it. (Symmetrical Triangle pattern --> Breaking out of the pattern --> new Bull or new Triangle pattern again). 2.Observation and conclusion taken from the patterns: After deeply observing the previous 3 symmetrical triangles of Bitcoin-Green, Blue and Purple. I was wandering how to make the current pattern. The information I have is (previous ATH 20k (point A) + current ATH 70k (point B) + I took 15500(point C) as temporary Bottom. The conclusion is Green + Blue + Purple triangles are symmetrical in shape. (Symmetrical triangles are mostly bullish and breakout upside not compulsory though). But for the current cycle, bitcoin is making is Descending triangle. Descending triangle patterns are generally bullish as well as bearish depend on where they are created. (At the Bottom OR At top of the cycle). As of now it is at the top (so this means there are chances it may breakdown from this Descending triangle). What I observed is cycle after cycle the width of the triangles are increasing and the height is getting decreased, technically what does this mean? what I concluded is the move of going sideways is increasing and the momentum or motive of going up is diminishing/normalizing. (So, this means there are high chances Bitcoin may move less upside and may go sideways or down). One more thing I observed is after massive move/action of correction of every cycle (Bitcoin Bottom) there is counter move/reaction (Point D of the Triangle). Generally, the point "D" of every cycle is laying above the top edge of previous symmetrical triangle (the sky-blue horizontal arrow lines). (So based on the above observation I took the "D" point at 50k as counter move/reaction for current cycle/Descending triangle, also, it is coinciding with the concentric circles which I made). 3.Final Conclusion, studying the current Descending triangle (Red)/Probabilities: After over all study, this is my Personal Opinion: 1.Current correction is so massive with in short period of time, considering previous counter rallies and currently bullish Divergences formed in RSI + MFI taking into account, so high possibilities that there can be a counter rally up to 50k or more than that. 2.I don't think current low 15495 is Bottom for Bitcoin. May be temporary Bottom or it may go little lower than now creating 2 layers of bullish divergences in RSI (for temp Bottom). (Technically current pattern is Descending triangle, so high possibilities that Bitcoin may make lower low (another low may be 13780) after the counter rally. to my guess Bitcoin may put its lower low after the Halving). 4.Probabilities of next Bull/cycle: case1: After Bitcoin making lower low (may be 13.7k), this is the situation DO/DIE for Bitcoin. If Bitcoin manages to break out of this Descending triangle similar to previous moves, it can put a new ATH (for another decade Bitcoin may trade between 19k to 160k). case2: Since current pattern is Descending triangle, if Bitcoin fails to breakout from this channel, there are high probabilities that it will break down. If Bitcoin Breaks Down, most likely it will reset itself from over all cycle right from 2010. (This scenario can be same as my previous Elliott wave theory which I already shared.) Am sorry my Technical Analysis looks little complex; I hope I explained well. Thank you.
BNC:BLX
by nmchary
2
#Bitcoin Remains Bullish, BTC Holds Above $16.5kPast Performance of Bitcoin Bitcoin prices are oscillating inside a $2k zone in a bull breakout formation following gains in late November. As it is, BTC bulls are confident and could build on the gains of December 20. Still, as long as BTC is below the $17.5k and $18.5k liquidation zone, sellers will remain in a prime position to shape the short to medium-term trajectory of the coin. #Bitcoin Technical Analysis The path of least resistance remains southwards. However, in the current formation, bulls can push prices higher. The rejection of lower lows is at around November 30 lows at $16.5k. This is bullish from an effort-versus-result perspective since bears didn't reverse the gains of November 30. At the same time, prices are inside the bull bar and within a bullish breakout formation above the bear bar. Aggressive traders can look to buy the dips with tight stop losses below $16.5k. Their target can be $17.5k and $18.5k. Meanwhile, conservative, risk-on traders can wait for a clean break above $18.5k before loading the dips, targeting $20k. What to Expect from #BTC? Bitcoin is sensitive to macroeconomic factors, judging from recent events. All the same, the near-term trajectory depends on the reaction at $18.5k. Any surge above this line could see BTC explode to November or Q3 2022 highs. Resistance level to watch out for: $17.5k Support level to watch out for $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
BTC Bitcoin - Weekly Chart Death CrossToday you can review the technical analysis idea on a 1W linear scale chart for Bitcoin (BTCUSD). Bitcoin price on the weekly chart shows some concerns as the 200 and 50 SMA looks like it will be crossing forming a Death Cross. This would be the first time a Death Cross happens on the weekly chart for BTC in its history. It is estimated to happen in between January-February 2023. There may be a chance the Death Cross may be avoided if the price moves much higher or lower quicker. I see price come down to $7K-$8K. I still don't think that will be the bottom, but it may be a temporary bottom. I have been calling drops on BTC since November and December of 2021. I am more concerned than before that more drops are coming. Be careful. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
BITFINEX:BTCUSD
by MillionaireEconomics
Bitcoin Dump 12000$ ? CRYPTO MARKET UPDATE Bitcoin support levels - $16,700 and $16,300 strong Support Bitcoin resistance - $17,300 and $17,800 strong resistance ——————————————————————— Analysis - BTC Support is at $16,700 and $16,300. Resistance is at $17,300 and $17,800. Trade carefully and manage risk according to mentioned support and resistance levels. BTC closed its daily candle green at 16895. Looking at the 1-hour timeframe, 50 MA has been able to provide support to BTC which is around $16,700. 200 MA resistance is around 17,100. BTC needs a high volume to successfully break out from 200 MA resistance. If BTC is unable to maintain 16700 support then there will be a higher probability towards testing of the next support which is at 16,300.
Short
by Waqar212
1
BITCOIN - CHRISMAS MOVES Usually, in the first moment Bitcoin will get a high retest of new range. First Range would be retest of 17600 - 17800 , where from that range we would see a nice decrease to retest 16950 - 17120 level, after which Bitcoin will take a second steep to retest 18120 - 18200 range. Somehow from there.. Bitcoin may retest lower range again at 17120 - 17300 level. This somehow will make Bitcoin to do an potential Double Bottom Pattern, and this somehow will result a nice increase in price towards 19200 - 19800 level.
BITSTAMP:BTCUSDLong
by DERYMEXCRYPTO
BTC Bitcoin Price Review - Short TermToday you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). The Bitcoin price looks like its forming a lower high as part of the downward market structure. There is a chance for the price to go higher as shown in the chart before heading down lower. Targets shown in the chart. To support the analysis, I have included the Ichimoku Cloud, RSI, Volume Profile (VPVR) and Fibonacci Retracement. I have been calling drops on BTC since November and December of 2021. I am more concerned than before that more drops are coming. Be careful. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
BITSTAMP:BTCUSD
by MillionaireEconomics
Bullish Divergence on Bitcoin Bitcoin has been in a downtrend a long time, last bear market i was here, i called the bottom, i longed 3,700 i will do the same this time too, bullish divergence on bitcoin 1 hour does not look great for bears. Currently bitcoin is stuck in a liquidity lock but over the new years period this liquidity will decline and the liquidity lock will become reduced. From a fundamental perspective many are expecting global markets to worsen, i think these people are negative parrots that refuse to understand the technology and the adoption of that tech. I am a Bitcoin bull right now, below $20,000 bitcoin is a bargain, people would have done anything to buy here just a few months back, bitcoin needs to fill the liquidity gaps around 25-30k so this would be my target for early next year heading into tax season as weird as that sounds. If you want to know more about my thoughts, follow me on YT.
Long
by thatmartiniguy
1
Bitcoin Will Hit 13000 ? Bitcoin MARKET UPDATE Bitcoin support levels - $16,300 and $16,000-$15800 strong Support (is Ka Matlab yahan buyers hain) Bitcoin resistance - $16,600 and $16,900 strong resistance (is Ka Matlab k yahan sell karney walay hain, sell hoga bitcoin) Bitcoin per market depend karti hain tu ap ko update de di hai - is k according plan apko khud karna hai AB kiya karna hai apna funds k sath. ——————————————————————— Analysis - BTC Support is at $16,300 and $16,000-$15800.Resistance is at $16,600 and $16,900. BTC broke its 16600 support and made a wick towards 16260. 16300 level has acted as support. Manage risk strictly as per mentioned support and resistance levels. BTC closed its daily candle red at 16438.Total Crypto Marketcap is at $795 billion down by 2.12% and BTC dominance is at 39.9%.
by Waqar212
1
BITCOIN COULD BOUNCE | 4-7% TARGET LONGSorry reupload, need to clean the chart from indicators. I'm not gonna explain the detail, just give you the scenes. Let's start it I was planning to change the setup but 17k level movement said "not yet", so here i'm still in long scenario. Scene 1 : if we have good close above 16.750 area it's possibly that we can go up to 17.400 Scene 2 : if we have good break below the mid channel (violet line) it's possibly we would bounce from support (white dot) to 17.500 Anyway i'm more concern with scene 2 This is not financial advice, this is an idea that could help you to see a possibility on another view. Always becarefull and keep on your own analysis. Lately i was thinking about Binance about you know.., i love Binance anyway. ~Sinn 17'/12/"22 9:10 (UTC +7)
Long
by mrsinn
3
Fulfilling projections expectations 2023On Wednesday 14th December, 2022 We’ve placed an order at $18 140 to SHORT Bitcoin following our projections and Biz plan towards 2030. Following our management plan; we expect to see more downside in Crypto Assets World. Last week, the FED gave us every reasons to believe that growth will be retained; till we are able to see a better Economic Landscape in projections to the mid-ending of 2023 to the beginning 2024. Carefully moving with wide eyes opened
Short
by JKAP-
1
Bitcoin – the bounce is possible!Hello, everyone! As you know I am in short position and I am sure that the new impulsive wave to the downside has been already started, but local picture told us that we can catch the pretty nice scalp long trade. Let’s take a look at the 1h timeframe of the BTCUSDT chart of the WhiteBit exchange. I decided to consider the waves 1 and 2 as it is shown of the chart. In this case the wave 3 reached exactly 1.61 Fibonacci retracement level – the natural target. Awesome oscillator minimum value also confirmed my idea that wave 3 has been finished. Oscillator has also crossed the zero line which is the minimal requirement for the wave 4 end. It means the we have to catch the wave 5 bottom to trade the potential bounce. Let’s wait for the divergence and the bullish reversal bar to enter the long trade. Watch out my updates I will tell you when I am going to execute this trade. Best regards, Ivan
by Skyrexio
10