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Bitcoindollar

BTC/USD: A Clear, Bullish TrendIn this post, I'll be analyzing Bitcoin's weekly chart, demonstrating why the overall trend is extremely bullish. Analysis - To begin with, it's important to note that we have broken out of the descending trend line resistance on the weekly chart (marked by the blue trend line) - This is a trend line resistance that valid for over 2 years - Now that we have broken out of this resistance, it is now a resistance-turned-support - We saw a pullback; a correction in the price to retest the support, before rallying further upwards - This was a pullback that I have anticipated, and also mentioned in my previous analysis: - Bitcoin broke out through the 0.5 Fibonacci retracement resistance, and hit the 0.618 levels yesterday - Overall, this has created a clear uptrend with higher lows and higher highs, and prices trading within an ascending parallel channel - We can also notice the signs of a bullish reversal, as prices have been painting a reverse head and shoulders pattern - While the Relative Strength Index (RSI) can be concerning, as it is reaching overbought territories, we can see from past technical indicators that the RSI entering overbought regions does not necessarily indicate the end of a bullish trend - We can also see that there is a lot of bullish momentum, as the Moving Average Convergence Divergence (MACD) has formed a golden cross, immediately after forming a death cross Conclusion In summary, Bitcoin's overall trend is very bullish. Since the trend is your friend, the best strategy is to buy the dip, until Bitcoin provides a clear confirmation of a trend reversal. Simplicity is key. If you like this analysis, please make sure to like the post, and follow for more quality content! I would also appreciate it if you could leave a comment below with some original insight.
BITSTAMP:BTCUSDLong
by Michael_Wang_Official
4
BTC 1D. The Double top and the Crusade to $7000.BTC price broke the weekly consolidation upward and buyers reached $12,300. But can we confidently claim that the growth trend from March 2020 will continue? We present to your attention fractal analysis done by us. If this scenario works out, it will be the main idea for the next months for us. We will make additions and updates based on it. Therefore, we recommend you subscribe to us and like us in order to receive updates on the idea in time. Most likely, Bitcoin is now forming a double top pattern. Possible development of this figure is reflected by red bars. It is very interesting that the fractal workout falls clearly at the leve l at which we focused our attention a few months ago. $11,385 - $10,760 - $10,350 are the levels at which buyers will impose a struggle on sellers and where price rebounds are possible. However, if sellers push the price below $9825 , then literally in 1-2 months the real target will be around $7000. Altcoins are likely to fall stronger than Bitcoin. Therefore, we need to closely monitor the strength of their rebounces and whether they have interest. Cancellation of this scenario is price fixing above $12,500.
Short
by P_S_trade
8
*THE TRADING REGIME #BITCOIN ANALYSIS - OCT 2020 TO JAN 2021*Hello Traders We’ve decided to add #BTCUSD to our watchlist for the end of the year. Cryptocurrency is still fairly new to the market and lack regulation We normally don’t trade it due to several factors however, here’s the complete analysis and price points marked out. It’s currently showing #bulls in charge But keep in mind the bearish engulfing also present from $13k Touch. Crypto trading tips: Be safe and take low risk(WHAT YOUR COMFORTABLE LOSING—-SCRATCH THE 1-2% theory 😂) ask me why in comments! Be patient and disciplined in your approach((TRADE YOUR PLAN/RULE BASED APPROACH) Don’t follow the “HERD”(HYPE/HERESAY) Always protect your capital(stop loss) Always only risk what can afford to lose. The Trading Regime COINBASE:BTCUSD
B
by EvaultFinancialGroup
1
Bitcoin - Repeating Pattern?I'm seeing a repeating pattern in bitcoins price action. This chart is the 4 hour time frame but I also see a similar pattern on the daily which spanned the whole month of August. The pattern consists of three peaks that form a sort of dome pattern with the highest peak in the middle. As this latest pattern completes I am wondering whether it will also conclude with a large pull back. Not earth shattering analysis but just a pattern that to me looks like bitcoin keeps repeating lately.
BITFINEX:BTCUSD
by Bigsky_Crypto
2
BTCUSD Consolidating As Friday Approaches - How To Play ItI apologize for typos in advance. If you read my prior analysis on BTC with the Daily chart you'll see that my current bias is Bearish as long as we are under September's high With that being said, we are starting to see some widening in price. (orange) The fact we made a slight low, the exploded up, only to trickle back down again could me there was a heavy unloading of profits. I'm look for one more high. I would like for that high to remain under August's liquidity spike that pulled peoples stop losses. If price breaks 11250 before making a new high we could be beginning a bearish move down. Target one is a 38.2% retrace but we could drop as low as $8k One more move up would complete a bearish bat pattern as well. STATUS : WATCHING.... Be Patient! The market moves at it's pace, not yours!
GEMINI:BTCUSD
by elevatedinvestor
4
Bitcoin Long Opportunity Looking at the 1H chart, the Bitcoin price is shaping a bullish flag pattern which might lead BTCUSD to $11,160 (target 1), then $11,647 (target 2), and $12,056 (Target 3). These are all strong resistance points that are supported by Fibonacci Retracement as shown on the chart. The longer-term also shows a bullish trend to be continued. But before we enter, we have to wait for the RSI to do some corrections as it has been above 80 for some time. Also, wait for an entry trigger like a candlestick pattern on the resistance area (10,808 and 10,830). 4H Chart: Your thoughts?
BITSTAMP:BTCUSDLong
by KurdEx
BTC/USD: Short Term Bullish Breakout AnalysisIn this post, I'll be providing my own technical analysis on Bitcoin (BTCUSD) using Elliott Wave counts, Fibonacci retracements, and insights provided by indicators. Analysis - To begin with, we can see that Bitcoin is consolidating within a triangle pattern - We can count an Elliott Triangle Wave (ABCDE) within the pattern - While a textbook wave count would suggest Wave E down to 10.3k, where the trend line support and 0.618 Fibonacci retracement support converge, that is not always necessarily the case - There are many cases in which the final wave doesn't fully test the support before breaking out - The Relative Strength Index (RSI) demonstrates a similar pattern in which it has been creating higher lows and lower highs - The Moving Average Convergence Divergence (MACD) has formed a golden cross - A break and close above the trend line resistance and 0.236 would provide confirmation to retest 11k regions Conclusion Technicals for Bitcoin demonstrate signs of cautious bullishness. While there is room for a potential drop, it seems that laddering positions for spot btc would be the most prudent for the time being. Don't predict the market. The future is all about preparation, not prediction. Take it by levels, and play by probabilities. -Michael Wang- If you like this analysis, please make sure to like the post, and follow for more quality content! I would also appreciate it if you could leave a comment below with some original insight.
BITSTAMP:BTCUSDLong
by Michael_Wang_Official
3
Don't miss the great buy opportunity in BTCUSDTTrading suggestion: ". There is a possibility of temporary retracement to suggested support line (10371). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . BTCUSDT is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 57. Take Profits: TP1= @ 10840 TP2= @ 11111 TP3= @ 11442 TP4= @ 11886 TP5= @ 12468 SL= Break below S3 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
12
BTC CORRECTION, BOUNCE INBOUND? $BTC/USDTSo it appears banks across the world have been included in a multi trillion dollar scheme which basically moves cash illegally (money-laundering). Attention has fallen on cryptos, metals, and markets as a whole as everything faces a red Monday. ~ So it appears banks across the world have been included in a multi trillion dollar scheme which basically moves cash illegally (money-laundering) . This has been going on for years but this should hit the wire hard this week if not this morning. We see futures gapped down 600 points, not the biggest move but still big. Banks will be a big move this week, will be a divergence maybe (some go down some go up). This could impact the entire market as a whole, cryptos and metals included. JPM is a great example of a bank with too much power. Let's see what happens at open, this is a decision point for the market especially before elections. (sent this morning in chat before open) Bitcoin currently sits above what has proven to be strong support @ $10355. Watching the orange trend line as support as well, it holds strong on the weekly timeframe . Possible long on a break and close on 4hr above $10355. Upside targets: $11173- $12050. Possible Short Entry: $10285 (short term), $9847 Caution needed in this stock as banks impact markets across the globe. DotcomJack | Michael Jordan of Stonks
by DotcomJack
1
BTC/USD: A Potential Trend Reversal Spotted Through PullbacksIf you like this analysis, please make sure to like the post, and follow for more quality content! I would also appreciate it if you could leave a comment below with some original insight. In this analysis, I'll be analyzing Bitcoin's daily chart, and providing an explanation on pullbacks. Pullbacks Explained - A pullback is a temporary reversal in the price action of an asset or security. - Pullbacks can provide an entry point for traders looking to enter a long position when other technical indicators remain bullish, and vice versa for shorts. - In this particular case, we have seen a bearish pullback, which was a good opportunity to take a short position, as Bitcoin failed to break through the trend line resistance. Analysis - To begin with, we can first see that Bitcoin has clearly deviated from its uptrend, marked by the blue trend line - The support has now become resistance. - This was due to the breakdown that led Bitcoin to sub 10k price ranges - Bitcoin is trading within a descending parallel channel, creating lower highs and lower lows - While this could sometimes be a bullish setup as an accumulation, the Relative Strength Index (RSI) suggests otherwise - The RSI has been forming lower highs as well, and while it has managed to break out of the trend line during Bitcoin's pullback, it seems as though Bitcoin's failure to break through the trend line resistance will drive the RSI further downwards - This indicates that any bullish move that Bitcoin might attempt, will lack the proper bullish strength to support it - After the breakdown, prices consolidated below the 0.236 Fibonacci retracement resistance - After the pullback, prices are now testing the 0.236 support. - Should we see further bearish confirmation, the next levels of support to have our eyes on are the channel support and 0.382 fibonacci support. - While Bitcoin has been showing mixed signals for the past few weeks, the daily chart now demonstrates a clearer picture of the overall trend - Also taking into consideration the fact that Bitcoin has been showing a paired movement with the stock market, the stock market's correction driven by the fall of tech stocks, lines up with Bitcoin's current price action Conclusion Bitcoin bulls will have to wait for further confirmation such as a potential formation of a divergence at key support levels, or indicators showing signs of the cryptocurrency being oversold. Don't predict the market. The future is all about preparation, not prediction. Take it by levels, and play by probabilities. -Michael Wang-
BITSTAMP:BTCUSDShort
by Michael_Wang_Official
12