Bitcoin Is Rejecting A Strong Demand ZoneHi Traders,
Bitcoin has been a pretty dead market for investors in the past few months. However, the current market structure looks interesting as BTCUSD is building momentum for a big move.
The chart above shows that Bitcoin's recent decline unfolded as a triple zigzag pattern. Wave z retested the wedge support line + strong demand zone.
We might see huge buying activities at this zone and the breakout of the descending trendline could lead to a major trend reversal.
What's your view on Bitcoin? Let me know in the comment.
Thanks for reading!
Bitcoinbuy
Bitcoin & Ethereum Volatility ( 1 Month )Today we have seen Bitcoin and Ethereum come under selling pressure as Elon Musks and The Chinese Central Banks comments on Bitcoins caused investors to sell the Cryptocurrencies.
However, the pullbacks in price are actually within the average 1 Month Historical volatility of both coins!!
This is really important to understand so please watch, so now is actually a better time to buy if you believe in the long-term outlook for both Coins to go higher.
BTC got stuck in TRADING RANGE ZONEGreeting from IRAN to whole trading community 💙✔
BITCOIN started an uptrend since early 2021 , and managed to achieve new ATH in 14th April
But after that we witness a massive SELL-OFF in BITCOIN which affected whole market
Uptrend has broken and price dropped under 50K
Bitcoin dominant dropped under 50% as well that was the lowest spot since 2018
After that BULLS came back to the market and rose the price above its major resistance/support level 52K
At the moment price got stuck in a trading range zone (Yellow rectangle)
Breakout in each side (TOP or BOTTOM) could make us a great opportunity to long or short
Price lower than 52K ==> Short
Price upper than 58K ==> Long
Let see whats happen next , What's your opinion about BTC next movement BEARISH or BULLISH?
KEEP IT SIMPLE :)
[BTCUSD W1 Apr 2021]BTCUSD
Bitcoin
Long Setup
My only strategy on Bitcoin is to trade the breakouts. I mentioned this since the Year 2020 when the coin was most trending. I called $65,000 back in February 2021 when it was only at $47,000. Now $65,000 is inevitable, that is why I will be extending my 1st target to $72,500.
Next long term target is $100,000
BTC 50K possible. Await 4H closeIf 4H candle closes like this 4H long signal is given by L1000X offset.
Backtest results of this and MACD are misleading, you can get more profit by taking it into your own hands to take profit at the top or bottom so keep that in mind.
Also Max drawdown will be less if you are taking your own exits.
Other things to note: You will not take positions opposite of the trend
RUN UP is the important part of a signal given by two lines crossing indicator
As a baseline test with TV strategy tester L1000X Offset Strategy is 3.85X more profitable than MACD in BTC 4 Hour
BTC May Retest Weekly High!Good Morning!
Bitcoin has formed a double bottom pattern and may look to regain level of $23,250. If break and close happens at that level, I predict BTC to rise back to weekly high, because it would be the next strong level of influence. Price recently closed over 2 Weighted Moving Averages, that just so happened to also cross... That gives indication, that the bulls are still here and we could breakthrough our recently found ceiling. Price had a hard time closing under $22,850, so that would be the area I look out for. If close happened below that before trade initiation, then the setup would be mildly invalid.
Whats your ideas on BTC?
Like or Commen t if this analysis provided value to you
-Mr.Pipzz
BTCUSD - CRYPTO - 01. NOVE. 2020Welcome to our weekly trade setup ( BTCUSD )!
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1 HOUR
Break back into our range!
4 HOUR
Reaction to our level, expecting another push to the upside!
DAILY
Overall bullish market in a small pullback..
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CRYPTO SETUP
BUY BTCUSD
ENTRY LEVEL @ 13669 $
SL @ 13456 $
TP @ 13982 $
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN