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Bitcoin - Big Brain Analysis 🧠What's up, traders! In today's market breakdown, we're mapping out our latest levels to watch for on the BTC 30m chart. Let's dive right in... Ticker: BTCUSDT Date: 05/23/23 Supply: 28,120-28,320 (red zone) Key zone: 27,415-27,600 (grey zone) Demand: 26,360-26,615 (1st green zone), 25,790-,26060 (2nd green zone) Commentary: BTCUSDT has been trading in a range between this key zone and demand for more than 10 days now and can't seem to break out of this range. We can target a lot of plays on both sides as long as these levels are respected. Currently it seems to be respecting this 26,360-26,615 demand again. There are a few trades we could target from here: ✅ Bullish Scenario 1: you want to see price pull back into the 1st demand zone ~26,360-26,615 and buyers to emerge again for an upside move, possibly into ~27,415-27,600 key zone or higher into supply at ~28,120-28,320. This is the safer upside play. ✅ Bullish Scenario 2: you want to see price break above ~27,415-27,600key (grey) zone, pull back to retest this zone and turn it into demand to catch a break and retest for a further upside move, potentially into supply at ~28,120-28,320. ✅ Bullish Scenario 3: you want to see price break 1st demand zone and retest 2nd demand zone at ~25,790-,26060, find strength again, and possibly catch a break and retest of this demand zone for a move back into 1st demand zone at ~26,360-26,615 or key zone at ~27,415-27,600. 🟥 Bearish Scenario 1: you want to see price approach this key (grey) zone at ~27,415-27,600, sellers to regain control as they have done through the last 10 days, and possibly catch a downside play, possibly into demand at ~26,360-26,615 again. This will be the safer downside play. 🟥 Bearish Scenario 2: you want to see price approach supply at ~28,120-28,320, show weakness, possibly retest this zone and reject again for a move down into the grey zone or further down into demand. 🟥 Bearish Scenario 3: you want to see price break below demand at ~26,360-26,615, pull back up to retest and turn this zone into supply for further downside. There is a demand zone at ~25,790-,26060 so be cautious of that in this scenario. That's all we got for you in this one. So what do you think? Are you bullish or bearish on BTC? Let us know in the comments below! We'll see you in the next one. -The AlgoBuddy Team
by QuantVue
4
BTC Bitcoin and the Debt Ceiling this week Debt Ceiling Explined: Bitcoin and other cryptocurrencies can be influenced by broader economic factors. In a scenario where a government default occurs or there is a significant economic downturn, it is likely that market uncertainties and investor sentiment could lead to a decline in Bitcoin's value. Bitcoin has formed a Head and Shoulders bearish chart pattern! The head and shoulders pattern is generally considered a bearish signal in traditional financial markets. It consists of three peaks, with the middle peak (the head) being higher than the other two (the shoulders). This pattern suggests a potential reversal in price direction, with a downward trend likely to follow. My Price Target for BTC Bitcoin is $23000. Looking forward to read your opinion about it!
Short
by TopgOptions
BITCOIN more correction to daily support then more gain ❌🧨Hello 🐋 based on the chart, the price is close to the descending channel resistance, resistance area and breakout of support to the downside completed 📖💡 for any other huge pump, we need more correction to the downside 💡📖 if the breakout of the first support area (25K) to the downside won't happen, we can see more gain from 25k 💡📖 but if breakout of the lower support zone(25k) be completed, we can see more correction to the downside at least close to 23k area and see more gain from 23k level 📖💡 and range candlesticks to the upside and downside before any other sharp movement is logical 📖💡 👌 Notice: pay attention to the price on shortcut chart (located under the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
14
BitcoinFor the first time in a long time, the price of Bitcoin has moved out of the channel range. In order for it to return to the channel, something significant and positive needs to happen in the market that would trigger a pump. Currently, we only see a potential interest rate increase, possible rise in the dollar index, and discussions about recession and ways to solve these issues. There is no talk yet about risk-on assets. These factors lead to the thought that there may be a final short squeeze before a downward movement or an immediate downward trend. If we look at previous summer months, they have often been associated with a decline. What are your thoughts on this?
INDEX:BTCUSD
by MarkMark1
BITCOIN still has not been overbought in the 1H timeframeFrom what the price action has shown me is that BTC is corresponding on the 15M and bullish on the 1H and from the use of the Fibonacci retracement tool from the last overbought close on the RSI and from the last oversold RSI, BTC seems to waver between 26867.95 and 26906.95, the 20MA seems to have flatten on the 1HR and the1H RSI seems to indicate that it has still not been overbought yet, these 3 confirmations tell me that it may breakout and go higher as the price is currently above the 1H MA and reach 27k+ BINANCE:BTCUSDT
Long
by JST2019
Bitcoin (BTC) - bears have the full controlHello, everyone! After today Powell's speech Bitcoin demonstrated the local volatility increase, but in mid-term picture it has not changed anything. As I told you many times events and news do not change the trend direction. It's just noise which makes the trading decisions more difficult. I have been waiting for almost a week how the waves will be formed and made a conclusion, that wave 3 of any order has been finished exactly at 1.61 Fibonacci extension level. Minimum Awesome Oscillator's value give us the precise answer where the wave 3 has been ended. The fact the AO crossed the zero line tells us that wave 4 is in progress and close to it's end. In my opinion, wave 4 has the shape of triangle correction, which is not obligatory has to retrace too high. Therefore, we can count the wave's 5 target. It's minimal target is located $25200 , maximum one - at $23500 (see my previous analysis). My plan now it looking for the short trade entry, I cannot see here any potential pumps. Best regards, Ivan _____________________________________ ❤️Follow me and never miss the update❤️
Short
by Skyrexio
3
Indicators Signal Short-Term Buying Opportunity for STX (Stacks)I aspire, and expect Bitcoin to recover and resume its upward movement, with $STX ultimately closing the weekly candle above $0.84. Nevertheless, in technical analysis and trading, wishful thinking is not enough and holds no weight. The key is to identify conditions with a high likelihood of success. Presently, $STX has fallen below $0.84 and is expected to continue its downward trend for the time being. Nonetheless, there is still hope for the short term. The 'ZigZag Fibonacci Tool' has automatically mapped out several Fibonacci levels that could potentially serve as support zones in the future (see my green arrows) Additionally, the Chris Moody Slingshot tool indicates a high probability of an upward tick around $0.77. The green candle colour suggests a conservative buying opportunity at present. Furthermore, the TD Sequential countdown to 9 on the daily chart indicates a buying opportunity as it identifies turning points in asset or index price trends, printing a TD9 after nine consecutive candles above/below the previous four candles' closing price. In conclusion, although Stacks has slipped through its support zone, favourable days are expected in the short term. The current undervaluation of $STX makes it an attractive bargain.
by joerivdpol
1
Bitcoin Trading Overview Hello! Today I would like to share my observations regarding the current situation with Bitcoin. Currently, Bitcoin is trading within an ascending channel, which is a positive signal. Its current position in the middle of the channel may indicate that we can expect price fluctuations in the near future. However, it is important to note that we need to closely monitor the further price movement in order to determine the direction. On the chart, I have marked several zones that may be significant. First and foremost, I anticipate that we may move towards the upper boundary of the ascending channel. If such a movement occurs, it could serve as a good signal to open positions in the direction of growth. However, we should not rule out the possibility of the price dropping to the level of $23,000. If this happens, it could create an excellent opportunity to enter the market at a favorable price. It is important to know your risks and always have a capital management strategy. Please note that these are just my thoughts and should not be considered as financial advice.
by CHOWTRADE
1
BITCOIN close to channel resistance and resistance area ❌🧨Hello 🐋 based on the chart, the price is close to the descending channel resistance and resistance area and breakout of support to the downside happened 📖💡 for any other huge pump, we need more correction to the downside 💡📖 if the breakout of the first support area (25K) to the downside won't happen, we can see more gain from 25k 💡📖 but if breakout of the lower support zone(25k) be completed, we can see more correction to the downside at least close to 23k area and see more gain from 23k level 📖💡 range candlesticks to the upside and downside before any other sharp movement is logical 📖💡 👌 Notice: pay attention to the price on shortcut chart (located under the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Short
by MadWhale
9
Bitcoin Head & Shoulders Activating!BITSTAMP:BTCUSD Head & Shoulders printed pattern. Watch for neckline break to confirm. Has busy support zone as highlighted. RSI oversold so you can enter on Bearish Retest or add to your positions. LONG: If the neckline fakes out then consider long opportunities. Plan A / Plan B - We move with price and prepare in advance. Always having Plan A and Plan B scenarios so we can react once the markets provide an opportunity to execute our edge. If you liked this idea or if you have your own opinion about it, write in the comments. The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
BITSTAMP:BTCUSDShort
by imr4nkh8n
Bitcoin -> The Turning PointHello Traders, welcome to this free and educational multi-timeframe technical analysis. On the weekly timeframe you can see that as we are speaking Bitcoin is approaching a quite strong previous weekly strcture area which is now turned support again at the $26.000 level. You can also see that market structure and moving averages are bullish, Bitcoin is also creating a bullish uptrend channel over the past couple of weeks so I still do expect more continuation towards the upside from the current levels. On the daily timeframe you can see that market structure is about to shift bearish, yesterday Bitcoin managed to once again reject a quite strong previous daily support zone at the $26.800 level so we could still see some upside potential from the current support zone. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
BITSTAMP:BTCUSDLong
by basictradingtv
43
BTC the most likely scenarios !BTC / USD Recently, BTC shows very little volatility Actually this always happens before a big move so be ready soon From my point of view BTC is likely to bounce from one of these structures in my chart : – Structure 1 : Triangle pattern price till now still holding above 27-26.5k local support which can make a bounce from current levels – Structure 2 : high TF support Price can drop to hit 24-25k which act as strong support in high time frames (my last analysis idea) – Structure 3 : CME gap CME gap is around 20k Which can be filled too Which structure do you think will happens and why Let me know in comments section below ⬇️
BITSTAMP:BTCUSD
by Babenski
84
BTCUSDT - has bull market really been started? Hello, dear friends! Bitcoin has approached to the critical price level where most of traders are struggling to define if now still the bear market or the bull market has been already strated. In today's article we will try to bring together many facts and make the conclusion about what is coming next. Let's go! BEAR MARKET STRUCTURE I have see many opinions that bear market has been started on November 2021, but I suppose it has started much earlier - in April 2021. My first evidence of this assumption is that maximum euphoria was in April, where we saw the largest altseason ever. Remember, many altcoins made 10-100x in those period. After OKX:BTCUSDT faced with the corrective move in wave A. The wave B was very tricky, it broke through the previous ATH which made a lot of traders confused. But in November 2021 only BTC and fundamental altcoins set the new ATH, like ETH, ATOM and DOT. So-called "shitcoins" demonstrated very weak pump and retraced only to 0.61 Fibonacci. To sum up this part of analysis, I consider now Bitcoin is finishing the wave C before the new bull market. WAVE C STRUCTURE Our main purpose now is to anticipate where the wave C could be ended to invest in crypto. Wave C should consists of 5 waves. Awesome oscillator is our best tool to identify the waves. The minimum AO value corresponds to the wave 3 bottom. Yes, It was at $17500, not at $15500. In my opinion, wave 4 has the shape of complex correction - very tricky one for all traders. I suppose that wave 4 has been finished in two reasons: BTC reached the 0.38-0.5 Fibonacci area and AO crossed the zero line. WHAT IS THE BEAR MARKET TARGET PRICE? I consider the wave 5 ahead. It's to fearfull that the potential target for this wave is located between $9k and $10k. There I plan to invest in Bitcoin and some fundamental altcoins. I suppose most of altcoins will disappear at such low price levels. Anyway we have the clear scenario invalidation level. If Bitcoin will break through the $32800 - wave 1 bottom level, my Elliott wave formation is gonna be failed. In updates I am going to add this idea with local scenarios which supports this scenario.
Short
by Skyrexio
45