Bitcoin $BTCUSD entry PT 50,800 PT 64,900Previous equence 5-7-5-1 and projected sequence 7-5//5-1
Currently in a downtrend but will make new higher soon after...
Bitcoinbullcycle
Bitcoin $BTCUSDC Target PTs 80,000-95,000Market Wrap: Bitcoin Near $60K as Coinbase Listing Stirs Fresh Crypto Hype
Bitcoin (BTC) trading around $60,120.82 as of 20:00 UTC (4 p.m. ET). Climbing 0.68% over the previous 24 hours.
Bitcoin’s 24-hour range: $59,428.21-$61,219.72 (CoinDesk 20)
BTC trades between its 10-hour and 50-hour averages on the hourly chart, a sideways signal for market technicians.
Bitcoin surged early Monday to a four-week high of $61,219.72. Analysts said the largest cryptocurrency might have gotten a boost from the hoopla surrounding U.S. exchange giant Coinbase’s coming direct stock listing Wednesday.
In cryptocurrency circles, the “Coinbase effect” is when a digital token gets a price pump after getting listed on the cryptocurrency exchange. But bitcoin might get the benefit of a different type of “Coinbase effect” – if newbie investors, spurred by mainstream press coverage of the stock listing, decide to put money into cryptocurrencies.
“The Coinbase hype within crypto, in terms of valuation and its domino effect on other markets” means Wednesday’s direct listing might become “a key catalyst event,” Singapore-based crypto quant firm QCP Capital wrote Monday on its Telegram channel.
Bitcoin Psycology Cheat Sheet "Popped The Bubble"Traders should print this cheat sheet out and keep it by their desks!
You can save this cheat sheet using Like and Bookmark features!
Reason why I wrote this post, is tremendous amounts of Bullish signals in @TradingView community, just take a look at front page and first pages of Ideas tab.
IMHO this is signal of "Back to Normal" phase and we are appoaching big crash event during 2021/22.
Stay safe and be humble!
Best regards
Artem Shevelev
Bitcoin: The Bull Cycle pattern to $100,000.What we should mostly focus on in this chart is the pattern of Bitcoin's Bull Cycles. Those have started with very sharp bull runs but decrease each time as BTC becomes asymptotic (diminishing returns). As for the Bear Cycles, although they started as sharply as the bull runs, they tend to stabilize and follow an identical structure.
Applying the decelerating parameters on the next Bull Cycle, we come up with an even less aggressive but longer pattern. Surprisingly the peak of that run is roughly $100,000. We have also incorporated the estimated date for the next 3rd Halving and as seen the projected bull run takes off shortly after, an effect that Halvings historically and naturally have on the price of BTCUSD.
If you want to combine this chart with a more analytical perspective on Bitcoin's Halvings, Reward phases and cycles, click on the chart below:
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BITCOIN Market Cap shows the wayA Total Crypto Market Cap chart with the 1W MA20 showing the points of pressure/ contact and the subsequent action.
Three contact attempts (red arrows) with the MA20 resulted into a rejection but the third has been the key as it took place after the bottom. This signals the start of the consolidation period that lasted 31 weeks. The next contact resulted into a spike that didn't last but the second was the signal of the start of the bull market.
My strategy remains buying every dip up to December's bottom.
Bitcoin targets 11000This pattern shows that BTCUSD is trading on its new long term support zone. Using the Ichimoku Cloud as a prime leading indicator, we can identify key trend signals and many similarities between Bitcoin's last two bear cycles (2014/15 and 2018/19).
First of all the cloud's squeeze (October - December 2014 and September - November 2018) was a Sell Signal to the strong decline that led to the 1st cycle's (2014/15) bottom and what could be the current cycle's (2018/19) bottom. As the cloud widened in 2015 it gave two Buy Signals, one that signified the bottom and the next that signified the start of the next bull market.
The channel's support lines show where these pressure points can be found. The resistance line shows where the next target is and that is at 11000 (on a 15 month period). This is the first bullish target of the Distribution Period. The peak of the next bullish market is according to those indicators well above 40000.
Bitcoin: Is it possible that we are just consolidating?What this chart shows is the potential emergence of a symmetrical candle sequence that will drive Bitcoin to a sideways consolidation phase for the next 6 months. The same pattern was developed after the ATH with a strong Channel Down towards the 6,000 low followed by a sequence of successive Lower Highs that narrowed down the price action so much leading to the November - December sharp decline and the recent Lower High. So far this is the common factor between the two patterns and the similarities lead us to believe that an identical Lower High sequence can be followed.
This is aligned to the general long term outlook of BTCUSD based on its historical volatility within the parabolic curve. Most models suggest that if the recent low was the long term bottom, Bitcoin will consolidate for an average period of 6 months in preparation/ accumulation of the next bull cycle. See our long term studies below and tell us what you think:
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