Bitcoin (BTC) forming bullish BAT for another price reversalHi dear friends, hope you are well and welcome to the new trade setup of Bitcoin (BTC)
Previously we caught a nice trade of BTC as below:
Now on a 4-hr time frame, BTC is about to complete a bullish BAT move for the bullish reversal move.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Bitcoinidea
Bitcoin Boom-Bust Cycle PatternsFrom a technical point of view, it is seen that Bitcoin making its 4th boom-bust cycle move.
The black line I drew on the logarithmic chart has been acting as support and resistance regularly since 2012.
The past 3 boom-bust cycle patterns have been applied to the cycle that we’re in right now.
The Yellow line is between 2012-2014; The blue line is between 2018-2021; The green line represents the boom-bust cycle from 2014-2021.
In my personal opinion and when I look at the support that Bitcoin found at the $16500 level, I think the scenario will be like the Blue line.
Bitcoin's Evident Drop Unveiling a Clear 2.9% DeclineTechnical Analysis :
>We have an important level (represented by the red line) that has been broken on the 15-minute timeframe. This indicates a shift in demand towards the next zones, as illustrated by the yellow line as the initial target and the blue lines as anticipated targets. Additionally, we should keep an eye on another key level(blue line) that will be tested by the upcoming 1-hour candle.
Bitcoin's Potential Short-term WeaknessBitcoin may have found its bottom at the $15,570 level. If this assessment holds true, it's possible that an impulsive leg upwards has completed the five-wave sequence characteristic of a bullish trend, indicating the first leg of this upward move.
Currently, Bitcoin appears to be in a corrective phase, which seems to be forming in a WXY pattern. The W and X legs of this pattern appear to be nearing completion, and I will be closely watching for signs of the Y leg's formation. This development could potentially propel Bitcoin to reach at least the $23,000 mark before embarking on another upward leg.
BTC Bitcoin Price PredictionThe political context is favorable for a small bull run to $30K for BTC Bitcoin.
After several weeks of tense negotiations, President Joe Biden and House Republicans have reached an agreement in principle to address the debt limit and cap spending.
To avoid contentious debates until after the next presidential election, the agreement suspends the debt limit until January 2025. This decision provides a temporary relief from potential conflicts surrounding the debt limit.
After a small rally, i believe BTC will retrace to $23000 to complete the Head and Shoulders Bearish Chart pattern.
Looking forward to read your opinion about it.
BTC 40K !!! Breakout is about to happen and BTC may fly soon!Hello Everyone,
As you can see on the 2h chart, BTC is all set to give a breakout! The rally may lead BTC towards 32000 in the short term, and 40000 in the medium term!! I won't get surprised if BTC kisses 50000 again before 2023 ends!! Downside weakness is seen below 26000!!! But the current week's NFP data won't give any space, I guess!!
Bitcoin 2 year road mapBased on Elliott Wave analysis, we clearly can observe that bitcoin has completed a wave 1 bullish impulsive wave and currently it forms a wave 2 correction wave, which can last most probably close to 200% the time of wave 1, which coincides close to the time of the halving. The correction will reach at least reach the 61.8% retrace and most probably the 71.8% to 88.7% area where the previous wave 2 of the impulsive wave 1 was formed.
BTC showing bullish signs targeting 35KHello, everyone.
Previously I've posted an idea with a bearish bitcoin outlook.
However SPX, has had a bullish reversal, and so it seems that BTC is having one also. Failure to reach the first bearish target of around 25k indicates, that this bullish reversal wants to take BTC to somewhere around 35k. If we reach the new target of 35k, I'll be looking to short somewhere up there.
Good luck
Stay safe, stay liquid.
BTC Long Term SetUpThe economy operates in cycles, and these cycles can be observed through various indicators such as the ADX Indicator and analysis of different assets. In my trading strategy, I prefer to keep things simple. Looking ahead at the next five years, I believe that the current market conditions present an opportune time to consider investing in Bitcoin. Based on my analysis, I anticipate that Bitcoin will experience significant growth, potentially surpassing its previous all-time high within the next two years, with an expected increase of over 200%.
Bitcoin 1D TF Bitcoin is undergoing a corrective phase following a significant 57% upward movement. I anticipate a decline in Bitcoin's value by at least 20%, as it currently resides within a bearish channel. However, once it reaches the range of my particular interest, which lies between 24836.98 and 25335.01, I expect Bitcoin to break out of the channel. Several factors contribute to this analysis, including the presence of a declining trend line, an inclining trend line, a rejection point, the bottom of the channel, and a bullish fib level of 0.5. After experiencing a 20% drop, I anticipate Bitcoin's momentum to shift towards a bullish swing.