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BITCOIN DOUBLE BOTTOM BREAKOUT AT 33.6K!Bitcoin is at a critical level on the 15Min timeframe. It is testing the 200MAs, and actually just got a pinbar candle (which is bearish). At the same time, it is putting in a W pattern double bottom (which is bullish), so right now bulls are battling the bears. If price can close above the neckline of the double bottom at 33.6K, and especially if price can close above the 200MAs at 33750, then that would be very bullish, as it would also invalidate the bearish pinbar. Not only that, the bearish pinbar would be a bear trap, providing more fuel for the move to the upside. Be prepared, as this could happen within the next hour. Of course, we might not get the setup that we want, in which case I will just sit on the sidelines and wait for the next potential setup. As always, we wait for the confirmation before entering a trade and if we dont get the confirmation, we dont enter into a trade. Some people seem to not understand this concept and think a trade has failed when it was never triggered. Cheers Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below. Check out my daily videos for more in-depth technical analysis and trade setups for Bitcoin, Ethereum, and Altcoins. Why follow? 1. Community of Technical Analysts sharing analysis and trades 2. Live tracking of whale wallet movements 3. Live update of the latest important news 4. Live syncing of popular crypto tweets 5. Ebook covering how to be profitable in the cryptocurrency market As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
Long
by cryptotraderog
13
BTCUSDT bearish modeHuge head and shoulder formation for btc on daily time frame which we broke to the downside and capitulated quickly to 28k. However the fast recovery gave me indications that e might breakback above 42k and eventually bange between 42 and 46k. However , we failed to break 42k region. meaning there is further downside. If we break 35k, aim for 26k for short play. place buy orders at 25k - 25.5k. if gets filled, you might have potentially caught the bottom of this bull market as i still fell btc can go upto 70k atleast. Maybe not immediately but over the next few months but that remains to be seen as we progress with price action because we need higher highs before that happens.
Short
by Airion
Bitcoin CME futures painting a cleaner pictureBased on my previous idea which I just updated too, BTC was going to hit 42k sooner than later and the picture wasn't great. The fractal played out nicely and the current correction has been pretty large, potentially even the beginning of a bear market. However in my opinion there is a lot of support in the 38-42k zone which hasn't been fully retested yet. On several exchanges we haven't tested the previous ATH of 42k, but got very close. Now the fractal indicates consolidation, another leg lower and then bottom. A bottom that could lead to 53k before we can tell whether we go up or down. There are tons of negatives for BTC and a lot fewer negatives for alts, but the truth is that I can't tell whether we are in bear market or not... not yet. There have been a few indicators that showed that could have potentially been the top, but it seems very weird based on previous cycles for this to really be the top. Maybe Bitcoin is done as other altcoins are stealing the show like Ethereum, Cardano and so on... along with the fact that there are too many longs, Bitcoin is attacked left and right from the media, and Elon definitely doesn't help. Now on the CME it is much clearer what has happened. We got up too fast, we never had proper corrections, many weird moves happened during the weekends and we had tons of double bottoms so there were many longs that were never shaken out. Once trading started on CME today the market tanked after getting rejected at the double bottom (seriously 3 double bottoms without an SFP - meaning the second low wasn't lower than the first one at the same level). Link with the previous bounce after a very similar move, the double gap at 60k was filled very nicely and then we went lower. A similar level right now is 53k, but will probably come once we retested the breakout zone on CME and hit the S3 monthly and S3 weekly, which are slightly below the 200 DMA. That would be the perfect shakeout and we'd hit such strong support that the market could fly up to 53k to fill what is like a 'CME gap'. Currently the 46-49k zone is resistance and the gap might be filled soon, but I doubt the correction is fully over yet. BTC is in a no trade zone for me at 46 as I either want to go long lower or short higher (long 38-42k short 53-55k)
CME:BTC1!
by BitcoinMacro
Seems like BTC is heading towards next Impulsive Wave#Bitcoin has been on a road to recovery and going by the chart looks like BTC has already one impulsive and Correction wave. Next wave is supposed to be the longest of all. So going by the rules BTC should create new ATH at 69K zone, followed by new ATH at 73K at wave 5. On a smaller time frame, Bitcoin is currently moving in a symmetrical triangle. It has already touched point D and heading towards point E at around 53K zone. If it managed to bounce off point E, then next destination should be Point 3 marked on the chart. May be in couple of days we will have a clue as to where BTC is heading. If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks. Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
by Manjyot
#BTC to $58k if this level sustains!Bitcoin broke above the 21D MA in the smaller time frame (hourly) If the price sustains above this level it is highly likely to reach the $57k level. I am expecting the price to go up from here, market is still uncertain so I am not posting many setups and keeping you updated with these BTC Updates. Do appreciate these efforts with your likes and post your questions in the comment section. It motivates me to make more content for you all. #PEACE
Long
by Cryptorphic
24
Bitcoin (BTC/XBT) Daily Long&Short Trade Setups 2021/03/04Hi guys! I will be sharing the trades that I take in real time, follow to see how my trades work out! If you like this post, please support me by clicking the like and follow buttons. Also feel free to share your thoughts and analysis in the comments below! And don’t forget to check out my daily analysis on Bitcoin, Ethereum, and Altcoins! Market Overview Price Action: Bitcoin rallied to a high of $52.6K before retracing and bouncing off of the Support & Resistance Flip @ $50K. It looks like it might be on its way to retest the 200MAs. It will be critical for price to hold above and bounce off of the 200MAs as we've seen that price can fall quickly once it gets below the 200MAs. Patterns: N/A Areas of Interest: The area(s) of interest for me are the 200MAs @ $49.7K and the highs @ $52.6K. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time. Trade Setups Below are the potential trade setups that I would be interested in trading: Long Trade Setup #1: Retest and Continuation (200MAs) 1. Price Action: Price needs to move back down to the 200MAs, currently projected to be @ $49.7K by the time price reaches it, and bounce back up. 2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming Long Trade Setup #2: Breakout and Continuation 1. Price Action: Price breaks above and falls back down to $52.6K and bounce back up. 2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming Short Trade Setup #1: False Breakout 1. Price Action: Price breaks above and then falls below the high @ $52.6K, forming a bull trap 2. Trade Entry Confirmations: A breakout candlestick followed by a breakdown candlestick, above average volume on both breakout candle and breakdown candle, MACD topping out My Recent Trades 2021/ 03/01: I had a winning trade! I entered long @ $46,288.00, SL @ $45797.19, price reached a high of $49,470.0, giving a risk reward ratio of 6.5:1. 2021/ 02/28: I had a winning trade! I entered long @ $44,875.0, SL @ $43,800.0, price reached a high of $45,530.6, giving a risk reward ratio of 0.6:1. 2021/ 02/22: I had a winning trade! I entered long @ $56,850.0, SL @ $56,379.0, price reached a high of $57,274.0, giving a risk reward ratio of 0.7:1. About Me I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016. I have worked on Wall Street trading bonds, stocks, and options. I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward. Why Follow Me Daily analysis on the latest market movements and price zones for high probability trade setups. Sharing of live trades that I take. A great place to help each other, learn from each other, and grow together. Trading education including a comprehensive cryptocurrency trading eBook, personal advice, and other educational materials Constantly testing and adding new trading strategies and refining battle-tested ones. DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I will not be responsible for any actions you take based on the analysis and comments that I provide. I am simply sharing what I am doing, and is not meant to be investment or trading advice. What you choose to do with the information that I provide is your own sole responsibility! The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk! Please support me by liking and following, and sharing your ideas and analysis in the comments! Thanks!
by cryptotraderog
5
BTCUSD 28K or 44k? Here's what you need to know!Welcome to this quick update. BTC is currently trading at $35800. 3 conditions are needed for BTC to stay bullish. 1. We need a break and close above the black trendline channel resistance. 2. Price stays above 21D MA in 4 hour chart. 3. Price after the breakout of the black trenline should move back into the blue channel trendline. If we don't close above the channel as well as get back into the blue channel we BTC is bearish and we can certainly see a bloody week from tomorrow. BTC surprises everyone with it's move. If we could just break and close above 37k it would be very bullish for BTC. So the question is answered here break and close above 37k leads to 44k. Rejection will lead to lower price targets as shown in the chart. Hope it makes sense. Thanks to you, Enjoy the Sunday evening. Do hit the like button and share your views in the comment section. #PEACE
COINBASE:BTCUSD
by Cryptorphic
18