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BTC When will the Bitcoin selloff end??I've previously mentioned in a BTC (Bitcoin) trading idea that the ETF approval would be a 'buy the rumor, sell the news' event: Now, we observe a continuation pattern with bearish divergences on the RSI. A bearish divergence is a term used in technical analysis to describe a situation where the price of an asset is moving in the opposite direction of a technical indicator. In particular, it occurs when the price of the asset is making higher highs, but a related indicator, such as the Relative Strength Index (RSI), is making lower highs. My current price target is FWB:39K , representing the next regional support.
Short
by TopgOptions
BTCUSD Bitcoin - Jan to Jan , what's next?! 22.1.24The common assumption is that Bitcoin is crazy and unpredictable. But if we look at the big picture - A technically perfect picture appears, predictable looking at roughly a year and a half of trading. Connecting the lowest and highest points creates an ascending (rising) tunnel with parallel lows and highs. The current floor of the long-term trend is around 32,000 per coin. The current roof of the long-term trend is around 50,000 per coin. A daily weekly candle close below 40,000 could mean 38,000 to 32,000 would be the next targets to come. A daily weekly candle close above 40,800 could mean immediate target would be back to 42,000 following with 44,000 and 48,000. ETF news provide turbulent movements which provide attractive entry points in the bigger picture view of up-trend since beginning of 2023. A weekly close below 32,000 would be the sign of the picture shifting, but until that happens bitcoin is overall expected to have a very bullish year.
BITSTAMP:BTCUSDLong
by Exactus
2
BTCUSDT.4HBased on the provided market data, BTC is currently priced at $41,270 against USDT. The 4-hour Relative Strength Index (RSI) is at 32.58, indicating an oversold condition and possibly an upcoming price rebound. However, the 4-hour Moving Average Convergence Divergence (MACD) is at -500.32, suggesting a bearish market scenario. The Bollinger Bands (BB) for 4 hours, 1 day and 7 days are at $43,860, $47,150 and $48,530 respectively. These values indicate that BTC is currently trading below its average price, suggesting a bearish trend. The support levels for 4 hours, 1 day and 7 days are $40,568, $40,500, and $35,400 respectively. If the price drops below these levels, it could potentially fall further to the next support levels at $40,100, $38,500, and $30,600 or even to the third support levels at $38,600, $37,300, and $24,700. The resistance levels for 4 hours, 1 day and 7 days are $43,937, $43,900, and $48,300 respectively. If the price breaks these levels, it could potentially rise further to the next resistance levels at $46,600, $47,500, and $51,910 or even to the third resistance levels at $47,500, $49,300, and $59,700. The 1-day and 7-day RSI are at 40.86 and 70.52, indicating a slightly oversold condition on a daily basis but an overbought condition on a weekly basis. The 1-day and 7-day MACD are at -145.30 and 3996.50 respectively, suggesting a bearish scenario in the short term but a bullish scenario in the long term. In conclusion, the market data suggests a bearish scenario in the short term with potential for a rebound due to the oversold condition. However, the long term trend appears to be bullish. As always, these indicators should not be used in isolation and other market factors should also be considered. Please use this analysis responsibly and conduct your own research before making any investment decisions.
by MarsSignals
2
Elaboration on BTC/USINTR for Q1 2024Hello everyone, in yesterday post I spoke about what do I expect for Q1 2024 moving further .. Today, I would like to elaborate in POINTS, WHY I think is necessarily to be VERY CAUTION in current Market conditions. Will be using 15D timeframe to capture as much data as possible. To get clearer picture of what is possible moving into future, we need to focus on what happend in past, even tho as ment before, market conditions are not EXTREMLY similar (due to highier inflation & interest rate!), but its closest we can get. Note, that current cutting cycle might be different for this exact reason, which could possibly mean that this process take longer and will have more pauses as in past. Aswell, bottom rate is expected to not be close to 0. For better visualisation I put cutting process into GREEN CYRCLES, marked 1-5. 1.Terminal rate 2.First cut 3.First cutting pause 4.Continuation of rate cuts 5.New Terminal rate (bottom rate) In the end of this process, PRICE came back very close to where it started Rallie and only then new Bullmarket occured. Today, I think and expect that we are only somewhere in middle between points 1 and 2 of this whole process, and that should be reason for EXTREME CAUTION. Especially if we take into account that we are in elevated price level compared to previous year. Having in mind that last time cut occured that was THE POINT when market flipped. And even tho ATHs right now are not that close, is very possible that we keep coming closer to them in next months, IF there is no change in FED policy next meeting. AND THAT WOULD BEEN A TIME FOR EXTREME CAUTION! This should stay relevant Until FED decide to Cut for the First Time. Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
#Bitcoin bearish breakout of very important trendline We can clearly see in this chart that the price has reached the upper boundary of a bullish channel, where it would encounter selling pressure. As a result of this selling pressure, the price on Friday, January 12th, formed a bearish impulsive candle. Following this candle, it managed to break below the short-term bullish trendline that the price had respected in the last few months. The bearish breakout of this trendline is a second signal, after the rejection from the bullish channel, that we might see further bearish movement in Bitcoin. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
BITSTAMP:BTCUSDShort
by mohemati
Warning! Bitcoin could correct further; even to 36kThe eagerly anticipated ETF has finally arrived, and as anticipated by many, its approval was followed by a correction. After reaching a peak of $49,000, BITSTAMP:BTCUSD experienced a decline to a low of $41,500 yesterday, marking a 20% correction overall. The question now arises: is the correction complete? In my view, Bitcoin could potentially undergo further correction. From a strictly technical standpoint, BtcUsd continues to exhibit a robust upward trend. However, despite the 41,500 support holding steady over the past month and a half, any surges above $44,000 were consistently met with selling pressure. The recent ascent beyond $45,000, which was, in fact, a false breakout, contributes to the likelihood of a more extended correction scenario. In summary, unless the price stabilizes above $45,000, the possibility of additional losses remains high. Sustained selling below the $41,500 zone could potentially lead to a drop to the $36,000 zone.
BITSTAMP:BTCUSD
by Mihai_Iacob
4
Bitcoin may be heading south for the winter!At least temporarily. When I look at this chart, I see imbalanced price action all over the place (purple boxes). And as we know with the smart money strategy, price will sooner or later make its way back into these areas. So, my thinking is, if we get a break of structure (dotted line) followed by a re-test somewhere close to the imbalance above that area, or the manipulation candle (solid red line), then we may be looking at a temporary change in direction. That said, Bitcoin has been in a strong bullish environment since Nov. 2022, so it’s riskier than a similar set up moving in the opposite direction. Manage your bankroll accordingly!
COINBASE:BTCUSDShort
by UnBearyBull
2
$BTC Analysis after Spot Bitcoin ETF Approval- The white resistance zone has been flipped into support - There is very strong resistance in the red resistance zone ($46,270 to $48,264) - The light blue trendline is my strongest resistance target around $49.1k - There has been a brief pump up to the light blue trendline and a strong rejection down that resulted in a long wick back down - Bitcoin is currently trying to flip the lower end of the red resistance zone into support at $46,270
BITSTAMP:BTCUSD
by realchartchamp
1
BTC (another bullish impulse?)BTC / USDT BTC just made a X3 from its bottom at 15k But it seems it is ready for another bullish impulse and here is why : We have unsloping channel target at 52k Also we have new ascening channel above it which targets 51k Also there is huge old weekly resistance between 48-52k So can easily touch this resistance easily We can also see that both bears and bulls got liquidated recently buy 2wicks this also means that BTC is ready for another big move The ETF decision: Weather it rejected or approved it will be bullish for BTC in long term But the impact on price will affect the short term price From my point of view : 1-if ETF approved: major breakout which can touch 52k or even go wild to ATH 2- if ETF rejected: we can see a harsh rejection in short term (it can drop like 20% in one candle )
Long
by Babenski
19
Will it hold?Bitcoin is retesting (again) my trendline. I see everyone calling for new highs, and last time that everyone was greedy... You know what happend. Now you are all greedy again, what could happen? I personally sold half of all my spot bags, and added more to the BTC shorts. I am short on BTC only. Of course my trendline can't hold forever, but i think we are closer to the drop. Big funds want to buy bitcoin, do you think they will buy it at this price when they can buy lower dropping it? Are you serious?
Short
by SaliJournal
Do you think Bitcoin ETF will be approved?Hello friends, Today I'm going to talk to you about an interesting and useful pattern in trading. This pattern is called QM or Quasimodo and it is one of the famous patterns in trading. This pattern consists of a high peak (Overbalance High), then a return to a lower point and finally a movement upwards that leads to a resistance point or supply zone. Note that the red area in the image is the supply zone for selling. After the price reached this area, my suggestion is to consider selling. Of course, it is still recommended that you test your trades with technical analysis and other strategies. I hope this text is useful for you and I'm looking forward to your comments and suggestions. Good luck.
CRYPTO:BTCUSDShort
by alusiuos1
BTCUSDT.4HBased on the market data provided, Bitcoin (BTC) is currently priced at $46,490.00. The Relative Strength Index (RSI) for 4 hours, 1 day, and 7 days are 59.59, 65.19, and 84.81 respectively. This suggests that the cryptocurrency is neither overbought nor oversold in the short term (4 hours) and medium term (1 day), but it is significantly overbought in the long term (7 days). The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day, and 7 days are 516.0, 1073.01, and 4620.01 respectively. This indicates a bullish signal as the MACD is above the signal line. The Bollinger Bands (BB) for 4 hours, 1 day, and 7 days are 47900.0, 46800.0, and 49000.0 respectively. The current price is below the upper band in all these periods which suggests that BTC is not overextended. The support levels for 4 hours, 1 day, and 7 days are $43,800.0, $43,800.0, and $40,120.0 respectively for the first support level and decrease further for the second and third support levels. The resistance levels for 4 hours, 1 day, and 7 days are $48,000.0, $48,800.0, and $51,800.0 respectively for the first resistance level and increase further for the second and third resistance levels. In conclusion, the technical analysis suggests a bullish trend for BTC in the short and medium term. However, the high RSI in the 7-day chart indicates that BTC is overbought in the long-term and may experience a price correction. As always, it's important to consider other market factors and your personal risk tolerance when making investment decisions.
by MarsSignals
BTC Bullish Pattern on Oct 1st, 2023We can see a falling wedge pattern in daily chart. This is a bullish pattern for few days. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
INDEX:BTCUSDLong
by rukshan2102
1
Ten Reasons BTC Sould Hit $155k - $210k This Market Cycle But...Here's my revised "Potential Path To $150k+" chart, adding in 3 new factors that further point to the higher Fibonacci targets on this chart and potentially hitting $220k Bitcoin. As the 3.618 accurately predicted the exact market cycle top in 2021 (drawn from the 2018 Hi / Low cycle)... The same scenario could play out for the 2024 bull cycle, with each of these TEN factors potentially 'igniting' the other smoldering 'fires' into a giant bullish blaze. Kind of like a good ol California forest fire. When the smaller fires meet, the blaze begins. The following TEN factors show 3 potential levels for Bitcoin upside in 2024, which I've labeled as 3 scenarios described in more detail below (Likely, Probably and Possible). 1. BlackRock & Fidelity ETF's Approval - (Slated for this week by January 10th - 95% chance)). 2. QE Money Printing To Pay Down US Debt - (The US rising debt levels require easing soon). 3. Bank Failures, Bank Runs & Transfer Into BTC - (More bank failures are likely. BTFP ending). 4. Hyperinflation & De-Dollarization (BRICS) - (We haven't seen effects yet, but still brewing). 5. Corporate Accumulation - MSTR / Apple /Tesla - (MSTR raising 750M Common Stock for BTC). 6. Country Accumulation (New Reserve Currency) - (More will follow El Salvador this cycle). 7. Post-Halving Less Bitcoin Miner Selling ($12B) - (Miners will have less to sell > 2024 halving). 8. Less Available BTC On Exchanges - (More retail wallets will creasing demand / supply shock). 9. Increasing Political Support For Bitcoin - (Politicians joining the narrative will push in favor). 10. Bursting of the Sovereign Debt Bubble - ($35T of COVID money globally straining global economies). Any ONE of these and likely the ETF approvals could and will be the needed 'spark' that ignites this Bitcoin forest fire, which will never be put out and only grow. I've broken these down into 3 scenarios... Likely Target ($100k) - Bitcoin was widely 'expected' to hit $100k in the last cycle, and the math supports the reasons why. With $20T+ in investable assets in Gold + Silver + US Real Estate in 2023, just 10% of this moved over to Bitcoin gives BTC a $2T market cap alone. It's also the 1.618 Fib target for the next cycle as shown. Probable Target ($155k) - Looking at the bars pattern from the Oct 19th 2020 breakout, we can see a rapid rise in Bitcoin followed, driving price up to the April 2021 initial high for BTC. This also coincides with the 2.618 Fibonacci target on the charts. Possible Target ($210k) - Again looking at the last cycle drop starting in Dec 2017, to the low in Dec 2018, the 3.618 Fib target was exactly where the peak around 64K in April 2021. Many believe this to be true 'high' although later we had a Wyckoff 'Thrust' higher to $69k. In the near term, the bars patterns also shows confluence for a pause right at the Fib Golden Pocket between 48K and $50k. Since round numbers act as market magnets, I feel $50k is the next push higher before a meaningful profit taking pullback. Also notable is the 21 week MA which has been an excellent support / resistance barometer over the years, and price has just firmly broken above that in recent weeks. So this is looking very bullish to me here, and I'm expecting we go higher... Time will tell if one or more of these scenarios come to pass! But I've also added 3 potential negative scenarios (and may add a 4th) which may pour water on this fire from the start, and are unknowns worth noting. 1. It's the First Ever Macro Global Recession for Bitcoin (Could a US recession drag this down?) 2. Still Small Possibility of ETF Delay or Not Approved Yet (This would cause a massive sell-off) 3. Spot ETF's May Mark a Market Top Like in Previous Cycles (No way to know the ETF effect). And here's a notiable #4 not yet on the chart... 4. Issues With BTFP Expiration Causing Bank Failures (Forcing the Fed to start dropping rates). When the Fed actually starts Dropping Rates, markets usually go down initially... See the excellent article Arthur Hays recently put out detailing this scenario. What do you think will happen this week and into the Halving??
COINBASE:BTCUSDLong
by BrettFogle
4
SEC's Jan 10th BTC ETF deadline ("buy the rumor, sell the news")The adage "buy the rumor and sell the news" might apply to Bitcoin with BlackRock and Fidelity’s potential Bitcoin ETF approval on the horizon. In the event that the SEC denies the ETFs, market participants might eye downside targets below $41,500 and $41,250 if we get a wild swing to the downside. Conversely, approval from the SEC may pave the way for an immediate targets of $48,250 and $48,700, with a sustained bullish sentiment propelling trading into the 50-55K zone. However, lingering questions persist about the market's reaction, raising the possibility of countering recent optimism and lending credence to the "sell the news" adage. Bloomberg reports suggest that approval for Bitcoin Spot ETFs could materialize as early as this week, with the SEC's decision deadline set for January 10. Insiders speculate that the regulator might leverage this deadline to announce decisions on nearly a dozen Spot Bitcoin ETF applications simultaneously, including those by BlackRock and Fidelity.
BLACKBULL:BTCUSD
by BlackBull_Markets