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Bitcoinforecast

BTC/USD Daily Levels - December 13th, 2022Looking at Bitcoin on the daily time frame we see lower lows as compared to Ethereum that saw a double bottom on this most recent contagion event. Now, if Ethereum continues that path and general trend upwards from this event, Bitcoin should follow would and bottom out around the $16,889 level before making its way upwards towards $19,356 and testing out those levels seen before the FTX meltdown. SBF just got arrested, pretty big bottom signal in the markets, we’ll see how they like that news event tomorrow on NY open, but if this explosive move continues to the upside, I’m looking at ~$21,000 to pull profits (TP2) after shaving a bit off at $19.3k as we break these resistances. There is a possibility like always to come back and retest the origin candle of the breakout, however, in this case that would make for a great entry at $17,295. Anywhere in the range of $16-17k is a phenomenal entry for a target sell price of $19.3k, and an even better entry for a long term slurp. I entered at $16,889 and will keep you updated with more signals to follow. As always please do your own research, I am not a financial advisor and this chart is for educational purposes only.
BITSTAMP:BTCUSDLong
by kyer
BTCUSDT - Wyckoff Method Bottom FinderHi Traders, Investors and Speculators 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫 A quick look at BTCUSDT from a macro perspective. It seems likely that Bitcoin needs to find a lower bottom where the demand zone is strong enough to stabilize the price. Currently, the volatility in the market may seem like it's bullish, but if you zoom out you can clearly see lower highs which is a benchmark for a bearish cycle. The price action is currently trading in the distribution phase of the Wyckoff Method market cycles, and we still need to establish a clear bottom followed by a period of sideways/range trading. This was an earlier proposed bottom for BTC by using the Wyckoff Method: Although my timelines were off, we can clearly see that the price action has not yet entered the final phase of the cycle and is still in a downtrend. Remember, there are lots of other great opportunities in the markets during December that could make for a better trade setup as opposed to BTC. Interested in stock markets? Check out this idea on SPX where I cover Apple Inc. , MSFT and AMZN : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Short
by CryptoCheck-
41
Bitcoin Breakout! Big Support Resistance Levels to Watch!Bitcoin finally broke above the 4h 200 EMA and horizontal resistance at $17,300! This was a HUGE step for BTC since that level has acted as resistance for some time now. Now the question is, where do we go from here? The big levels to watch are the top of the channel at $18,000 and the MAJOR resistance at $18,700. I'm expecting Bitcoin to at least retest the support at $17,640 before continuing higher. If it breaks through that support, then the next MAJOR level is the 200 EMA and horizontal support combined with the bottom of the channel at $17,300. These would be great levels to DCA (dollar-cost average) if it gets there. If you enjoyed my TA or had any questions, please comment below or send me a DM :)
Long
by CryptoScripts
BTC Bulls Next Target is $17600-$18200 After This HappensBitcoin Bulls are ready for some good green Holidays in December, The current pullback after hitting $16800 could go further down to a more stronger support range at $15800 - $15450 range. This range will provide buyers with sufficient buy capital to attempt the $16800 resistance of which I so see them clearing through it to hit $17300, but here I see market makers targeting Sellers(Shorters) stop-hunt around the $17600 all the way up to $18300. I'm staying open minded on the support and a possible worst case scenario triple bottom could arise because for now the current Dojis on weekly support shows anything can still happen, What are the chances that the bulls will make it to above $18k in Dec? I say we have over 75% chances of bulls making it to $18k and over 65% above $20k The current pullback must not go below last low of $15433 range to be more open minded, I do see that from December 2022to January 2023 will give buyers the opportunity with the current accumulation on going to achieve a little more recovery to the upside before a major more dump coming from Mid 2023 to 2024.
by MachiavelliTrader
Bitcoin is on the edge of collapse!Hello, everyone! It’s time to refresh our global Bitcoin analysis because I have some evidences that the new impulsive wave to the downside is about to happen. Let’s take a look at the 1D time frame of the BTCUSDT chart of the WhiteBit exchange. When we analyzing the Elliott waves first of all we have to find the minimal Awesome Oscillator value. It corresponds to the wave 3. I consider wave 3 has been ended at the $15500. Now our purpose is to find the wave 4 top to short the market and catch the wave 5. I have already opened short position at the very top $17300 and told you it here 5 days ago. I suppose that the wave 4 has been already ended because of the AO zero line crossover, but I am ready if BTC will show us another one leg up. Maximal target is $17800 where I can wait the price to enhance short position – it’s 0.38 Fibonacci level. I want you to notice that the 0.5 and 0.61 Fibonacci levels are unreachable because it will violates the Elliott waves axiom about non-overlaping waves 1 and 4. Hence I am waiting for the crash in the nearest weeks. The probable target for the wave 5 is $13200. Best regards, Ivan
Short
by Skyrexio
7
#BTC/USDT Geopolitical Factors or Manipulation?Welcome to this Quick BTC Update. A close below $16588 will trigger a bearish rally toward $15k. I see a bullish rally in the charts with a target of $18k+. BTC is currently hitting the support with a demand zone from $16500 to $16800 level. The Russia-Ukraine war is back again, recently 100 missiles were fired again. This has been going on for a long time. The FTX saga is over, there's no more pain IMO which is bigger than the FTX. I AM ACCUMULATING. Good thing, we closed 75% of our 7 altcoin positions in massive profit when BTC was trading above $17.2k. 25% stopped out with a low profit. Only CHZ was stopped out with a small loss. You were warned on multiple platforms. Check out if you haven't yet. Not Financial advice, DYOR! Do hit the link button if you want to support my work as it motivates me to post more setups and updates like these. Thank you #PEACE
Long
by Cryptorphic
7
Can Bitcoin Break Above The 200 EMA?BTC recently climbed back into our upwards channel on the 4h chart but still remains below the 200 EMA ($17,300). This is such an important level because it's acted as resistance since Dec 5th and is now coupled with horizontal resistance (red line) near the same level. This is a big week with a lot of numbers from the government (CPI, FOMC, etc.) so expect a lot of volatility. If Bitcoin can break above the 200 EMA I can easily see us touching $17,640. If not, then my target is $16,700 (next major support). Since we broke out of the upwards channel yesterday, I don't see it as much of a support now. If we break $16,700 then $15,900 would be my next major resistance. If you enjoyed my TA or had any questions about the indicators I use, please comment below or send me a PM :)
Short
by CryptoScripts
1
BTC Daily TA Neutral BullishBTCUSD daily guidance is neutral with a bullish bias. Recommended ratio: 52% BTC, 48% Cash. *Markets rallied on hopes for a lower US November CPI tomorrow morning and if it's lower than in October expect for a continued rally in Cryptos and US Equities; however, if it's higher then a sharp downturn is likely. The last FOMC rate hike of 2022 will be following the day after on 12/14; if it's 50bps then a short-term rally is likely, whereas a 75bps rate hike would likely be bearish. SBF was reportedly finally arrested today in the Bahamas after pulling out from his agreement to testify to US Congress , he will be held in the Bahamas until a formal request for US extradition is made. The EU has placed sanctions on Iran for supplying Russia with drones for their attack on Ukraine in addition to their violent response to social protests . Cryptos, US Equities, Commodities, VIX, Short-Term US Treasurys, GBPUSD, EURUSD, JPYUSD and NI225 ended today's session up. DXY, Long-Term US Treasurys, US Equity Futures (aside from NASDAQ), CNYUSD, HSI and N100 finished down. Key Upcoming Dates: US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; Next GDPNow US Q4 GDP estimate 12/15; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. * Price is currently trending sideways at $17100 for a twelfth consecutive session as it approaches a retest of the 50MA at ~$17800 as resistance. Volume finished today's session Moderate (moderate) and broke a three day streak of seller dominance. Parabolic SAR flips bearish at $15700, this margin is neutral at the moment. RSI is currently trending down slightly at 50, the next resistance is the upper trendline of the descending channel from January 2021 at ~58 and the next support is at 42.41. Stochastic remains bearish and is currently on the verge of crossing over bearish at 88.29 support. MACD remains bullish and is currently trending sideways at -101, it's still technically testing -232.42 resistance. ADX is currently trending down slightly at 24 as Price continues to trend sideways, this is neutral at the moment. If Price is able to breakout then it will have to get above the 50MA at ~$17800 as resistance before it can potentially test $19417 resistance . However, if Price breaks down here, it will likely retest the local low of $16200 as support before potentially retesting the uptrend line from March 2017 at $15800 as support . Mental Stop Loss: (one close below) $16800.
COINBASE:BTCUSD
by dailytaguy
Epic Fail of Bitcoin in logarithmic Regression [Weekly]Hi everyone, There has been many references to the weekly logarithmic regression of Bitcoin that claimed it never failed from the time of its creation by Satoshi Nakamoto. it has been promoted on social media for a long time by serious advocates such as PlanB or many others on twitter. But as you can see on the chart, in November of 2022 the logarithmic regression failed to support the price for the first time in Bitcoin history. Bitcoin is relatively a new class of asset in comparison with Gold for instance and I believe one should be very cautious with it in regard to its short history, especially in times of a possible recession. FYI, Logarithmic regression is a type of regression used to model situations where growth or decay accelerates rapidly at first and then slows over time. more in-depth elaboration of its math and logic is available at : heartbeat.comet.ml Please manage your risk responsibly and make informed decisions. Good luck!
BITSTAMP:BTCUSD
by Shamshiri_Investments
6
Bitcoin is still bearish!Hello, everyone! First of all I have an announcement for haters and trolls. You can laugh on me that I was sure that the Bitcoin price is not going to break $17080, but it did. I admit my mistake and understand that need to continue study Trading Chaos or any other approach if this does not work. My purpose in this blog is to show you my trader’s way. I think most of you still remember my stupid opinion that $26k was the bottom based on absolutely nothing, then I have not been aware of Elliott wave analysis. Now I can correctly predict most of major moves, but on local time frames I am still the noob. Time to analyze the market. Let’s take a look at the 4h time frame BTCUSDT chart of the WhiteBit exchange. First of all let’s notice the supply and demand lines (or support and resistance trendlines if you want). Bitcoin has easily reached the demand line, but has not enough power to reach the supply one. It is the sign of weakness. If the price will not break through the local high at $17400 next couple of days I am going to use the Elliott waves scenario which is pointed out on the chart. The pump which sent me to the books again could be the tricky wave 2 and if it’s the case the impulsive dump is about to happen. If the price break $17400 I am going to recount waves again and think about my mistake. What about trades? I am in short from $17300 – nice entry that’s why I don’t want to close this position and is going to enhance it in case of the new pump. Best regards, Ivan
Short
by Skyrexio
25
Bitcoin Rejecting at Resistance! Will it Crash?The 4h chart for BTC is still playing out perfectly. You can see it rejected on the 200 EMA (pink line) and recently rejected at the horizontal resistance of $17,167. I'm expecting Bitcoin to at LEAST retest the bottom of our upwards channel at $17,000 and possibly falling to $16,736 (with a dip lower to form a bullish divergence) then bounce to retest the $17,167 resistance. If Bitcoin breaks above the 200 EMA, I'm FULLY expecting us to test the next MAJOR resistance of $17,640. If you enjoyed my TA or have any questions on the indicators used, please leave a comment below or send me a PM :)
Short
by CryptoScripts
8