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BITCOIN: STILL UNDER PRESSURE.Hello traders, I hope you guys are enjoying your weekend. Here's a quick update on BTC in a lower timeframe. Timeframe: 6 hours. Update: In my previous daily TF update, I mentioned $23150 as a slight resistance that BTC has already crossed and so far it is still above it. Current scenario: In this 6-hour TF, BTC has not yet broken above the resistance trendline. It showed some small fakeout but the daily close dropped the price inside the trendline. According to this chart, a bullish rally towards $28k won't get approved unless BTC breaks and closes above the trendline. Until then, the chances of breaking down still continue. Key level: $24k resistance level. Conclusion: To continue a bullish rally BTC must stay above the $23k level after the weekly close. Let me know what you guys think about the market. I would like to know your opinion. Thank you and have a great hour ahead.
COINBASE:BTCUSD
by Dexter_The_Trader
10
Revised Bitcoin Trend analysis on Weekly Time frame If BTC consolidate between 28643 to 32485 and it breaks upside will lead to Target of 37900 to 38000 If BTC consolidate between 28643 to 32485 and it breaks downside 28600 It will lead to downward Journey very fast. below are downside Targets 1st 25475 2nd 19300 3rd 12900 (In case drastic changes in global environment) Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any trading decision. Leave a comment that is helpful or encouraging. Let's master the markets together.
BYBIT:BTCUSD.P
by sbkurandwad77
BTC Flat correction confirmedHello Everyone, The last two months have been intense in the crypto market. After touching 69k, the market dropped 40% from the All-Time High. Looking at the chart, it was logical to exit the market at around 70k. Although I called the top, I have re-entered the market at 55k, expecting the run to 100k like many others. That was a pure emotional mistake (that is why risk management with stop losses is essential) that I hope I will treasure and avoid in the future. Although the market looked strong in price, the volume told us something else. It was drying on the rally. This is typical of wave B, which is a fake run. You can see the difference between a legit run and a phoney in the chart. Nevertheless, there were other signs in the market structure. In the chart, I highlighted the primary and intermediate Elliott wave cycles. If we had to look closely at the chart, we could appreciate that BTC had a zigzag correction back at the end of 2019. By the rule of alternation of EW, we should have expected a Flat formation or complex formation developing sideways for the primary wave 4 (the one we are in now). Nevertheless, until we were holding above 46k, I was giving the benefit of the doubt to BTC and expecting a possible rising triangle. However, since we lost the 46k level, the market has confirmed the flat formation. BTC is now in wave C of intermediate degree, which is usually very painful for market participants. I expect BTC to have a bounce relief from 39-40k retesting the lost level at 46k. I expect a rejection that will create a cascade down to 30k, where BTC will conclude the correction. This aligns perfectly with the Elliott wave channel I have drawn on the chart, which is constructed by linking the top of wave 1 and wave 3 and drawing the parallel line starting at the bottom of wave 2. I have used the line chart as it is clean and blocks the swing's noise, which is best when wave counting. However, we can maybe expect a swing below 30k due to extreme emotional reaction at that level, touching 27-28k. Despite all this bad news, there is some good news. I see BTC bottoming out around middle March. I expect a slow start with wave 1 being steep, but due to the bearishness of market sentiment still deemed as bounce relief with people calling Nonsense levels such as 3-6 k for BTC. Wave 2 will feel like this with a lot of uncertainty. However, things will start to accelerate quickly after that. My final target hasn't changed, and I expect BTC to top at 185-195 k. Unfortunately, the market has to go through the pain of the correction before getting the sweet fruits of the next bull run. If BTC breaks above 54k, this hypothesis will be invalidated. Anything below 54k, then the flat is still in full force. I will start looking for shorts at around 46k expecting lower levels to 30k. If you have any questions, please feel free to comment below. FOLLOW ME, SHARE, LIKE AND COMMENT
B
by CFcryptoTA
11
Which support zone does BTC have to reach on to recover up?On 5th of may bitcoin was trading at $39600.Decreasing from that point,it had fallen to the lowest of $25600 on 12th of may.this all happend between just 7 days.then,bitcoin surged a bit next day and since then bitcoin is trading between $29000 and $31000 till now.it has been seven days so far. I am not a professional trader,but according to my perspective,if bitcoin breakes the resistence of $31000 it can go back to the price of $40000.
BITSTAMP:BTCUSD
by aashumaan
1
#Bitcoin has reached 46K and even 47K. What now? #BTC is now trying to close its first full candle above bull market support band, which is now at 44.7K and also matches the 200 day EMA and the 50% Fib. Retracement traced from July 2021. We're even close to the 200 day SMA at 48.2K, which is the last moving average to conquer and just 2 days away from our yellow box, where we pointed out now weeks ago those were the dates where we could see a potential trend reversal (March 30th - April 3rd). We have multiple levels to conquer to the upside, but 2 of the most important are 50% Fib. Retracement and 50% Fib. Extension. The first one would imply an upside continuation to the prices we know from last cycle. The second one, could imply a potential new all time high coming. Now, this won't happen without corrections or retracements and that's healthy for the market. So, what do we have to watch closely now? First of all, volume. Volume Oscillator shows volume going down in the last few days, while price is going up. And that's not good, because the volume should always rise in a rallying market. If it doesn't, the chances of a bull trap increases. MACD, Stochastic and RSI: an Stochastic and RSI rise is expected during a rally, but it's much healthier if the rally occurs with these indicators outside the overbought range. Stochastic is already overbought, RSI is almost there and MACD is climbing to a potential bearish cross. Short term price action (4H and 2H charts): if we take a look at both charts we can see volume is going down pretty fast, which is no good at all. Remember: volume is the blood of the market, without enough volume, no rally is sustainable. Also, Open Interest (Cryptoquant) is now at 14.5B with a huge spike in the last days. It's not something to be concerned yet because certain rise in OI is expected, but remember: last 3 bull cycles started with OI between 5-8B and last 3 big corrections (30/50% dips) started with OI between 14-16B. Nasdaq is also something to watch, because crypto markets and tech stocks have shown a really strong correlation during the years. The thing is Nasdaq is not yet above 20W SMA or 21W EMA (bull support), but is getting there. It has a strong resistance about 14871, and bull support band is around 15000. MACD, Stochastic and RSI on Nasdaq look much better than Bitcoin's, with the RSI even in normal levels. So, what all this could mean? 1 | Although bitcoin has surpassed 46K, it's still too early to say that the bull market is back. 2 | I think it's prudent to wait at least 2/3 days to see if #BTC continues to close candles above 46K. 3 | We will likely see a correction after this "rally" today, since the volume is not following and Nasdaq still has some barriers to overcome. LAST | I think the bull market is going to arrive and maybe even on the dates indicated (yellow box) but I would wait a few more days before diving into the market. If you enjoyed this, just show your appreciation following/retweeting on Twitter, here, leaving and comment or just a like. Have a nice week,
by BlackTieCrypto
4
💥$20k BTC Is Coming...The Chart NO ONE Is Looking At💥 (Part 2)Hi everyone, This is The Unbounded. One of the newest and most active trading view authors and fastest-growing communities. Please consider following me for the latest market updates and mid and long-term Long / Short calls. Let's get to the chart! In this Part 2 of the price of Bitcoin potentially reaching the $20,000 range, I am using previous historical drops from high to low. My point here is not to say that Bitcoin will definitely reach this range, but that if historical patterns are used as a reference point, then we can see that the $20,000 range is within a realm of possibility. In case you thought you have missed the Crypto Boat, history shows you may get ONE last chance to buy Bitcoin in the low $20k range over the next several months. Patience and strategic planning will be critical to catch the opportunity. In this chart, the setup is Bitcoin on the Weekly time frame with no indicators. Of course within this downtrend, Bitcoin may have rallies to $50k or something but the strong historical evidence is that there could be a continued downtrend to the $20,000 range. The smartest way to use this potential downtrend to your advantage is to Dollar Cost Average into the market with your near term buys being smaller than your later buys. The Bitcoin price might only briefly touch these $20,000 levels as so many people would be trying to jump into the market trying to get $20,000 Bitcoin that $23,000 or $25,000 is as low as you'll see it for sale on major exchanges. What are your thoughts and opinions on this forecast? The more we all chat about this, the stronger and more profitable we can all become.
BITSTAMP:BTCUSDShort
by TheUnbounded
13
Bitcoin Prices = the $42900-$43500 range.Will It Be Respected ? We still have all day tomorrow March 10 to respect the convergence zone between published last February 28, despite the high volatility of the markets. Prices are now returning to the lower bounds of the long term and short Term of the blue moderate Flow-Lines calculated according to econophysical principles. Following the respect or not of the convergence zone calculated at the end of the last month we will then be able to establish new targets for the future. Tomorrow will be an exciting day ! What is your opinion ? Xavier
COINBASE:BTCUSDLong
by TheoKalia
Bitcoin - Important Levels :$41100-$41500 for The Next Rise...Hello, We respected the forecast made at the beginning of the week. The next important levels are those between $41170 and $41600. This area needs to hold in order to resume a sustained rise with prices hovering around the red Max flow-lines during this early March. (the slopes of these Flow-lines are calculated according to the mathematical principles of econophysics). If we break these levels and explore the time-price matrix of the red rectangle, the pace of the rise could be reduced to the long-term and short-term channels of the blue Moderate Flow lines. For the moment the time-price relationship is excellent. To be continued... Xavier
COINBASE:BTCUSDLong
by TheoKalia
bitcoin btc btcusdt Hello, dear friends. Today I will give you a very simple but practical analysis of bitcoin. Bitcoin has formed a rising flag pattern in weekly and monthly timeframes We have all seen the ups and downs of this market and we all know that bitcoin has always been bullish in the long run. Do not worry about rising US bank interest rates or a possible war between Russia and Ukraine Because even if it wants to affect the market, it is short-term and in the end no one can stop the growth of bitcoin. The current price is suitable for entry and in the view of one year, the price of Bitcoin can form an A` wave and reach a price above $ 400,000. In the next analysis, we will examine bitcoin and other digital currencies at lower times and introduce you to signals with high growth potential. If you liked the analysis, thank you for sending it to your friends as well.
Long
by Amirrezapaya
2
BTC preparing for next leg downHello everyone, There is not much to say here. In my previous idea, I highlighted how BTC has started a clear intermediate beartrend and I was expecting a break of 42k to reach 35-36k. That's happened. Now what I am eyeing although we saw an increase in volume at this level with a spring at 33k it looks like bulls are not following through and bears are clearly in control. This was more profit-taking and break-even point for some (in my opinion) rather then a buying zone. Although we have the recurring buy the dip narrative, this is mainly driven by retail investors who do not understand markets dynamics and macroeconomy. With the current FOMC meeting, high inflation, end of tapering in March and rates hikes BTC like other risks on assets are suffering a bear trend. Who had to de-risk has likely already done so and we have now retail money and Long-term investor in the markets. Rule number one of trading, NEVER TRADE COUNTER TREND. Although there are people that are able to make money counter-trend, I would like to ask you something: Are you able to row counter stream? Maybe... a lot of energy and likely to fail. Then my suggestion is to try to long in a bear trend and wait for a clear reversal before entering the market. Nevertheless, BTC is creating a clear pattern in which the 20MA and 50 MA are currently dynamic resistances and is trading in a channel. BTC is now approaching for the 4th time the 20 MA and I do not have reason to believe BTC will have a reversal her. Although many will argue that RSI and other indicators are oversold. Well, I suggest you stop using them or learn to use them because in a bear trend the RSI and Stoch RSI migrate to the south portion of the scale and trade there for an extensive period of time, which indicates that bears are in control and there is low momentum for bulls. Nevertheless, I believe BTC after this leg down to 29k will enjoy a small relief rally back to 34-35 before continuing down to set the bottom at 22k. If BTC manages to break the resistance at 41k then I will change my mind and start to possibly look for longs. However, now the picture is clear and anything below 41k is a short opportunity. FOLLOW ME, SHARE, LIKE AND COMMENT
Short
by CFcryptoTA
9
Bitcoin heading towards 30000As I mentioned in previous analysis Bitcoin has some support near 40000 Bitcoin respected the support and bounce about 10%. Now in previous trading session it closed below 40000 and stated trading below the same. Based on current price action 30000 level should be target of this fall. Getting any pull back signal near 30000 will be good for long term investment. On the flip side further breakdown below 30000 will crash bitcoin and you will see 20% to 30% correction near future. 30000 level is the key now.
by nmcapital44
BTC bear flagGM everyone, For those of you that like diagonals trendlines. There are two clear trendlines at work that provide strong resistance short term for BTC. I do not expect much from BTC right now. Clear downtrend with not strong bullish signs and volume gradually decreasing, which, although many will tell you, is a good thing. However, the reality is that the volume is dry because there is low demand and increased supply. We can see this on the few breakouts on the downside we had in the past few weeks. There is a spike of volume on the breakout due to the initial panic and then a gradual decrease suggesting lower demand. Also, as you can see from the chart, it looks like there is a clear bear pennant/flag in play at the moment. If BTC picks up some momentum on the upside, I do not see BTC going any further than 45500 unless strong volume push in and momentum start to turn. It looks to me bulls are scared right now. There is quite a firm conviction from some that BTC is bottoming out. The market is overleveraged, with many stop losses piling up on both sides. However, most of the shorts stop losses are above 46k, but the Longs stop losses are at 40k - 39k, making them highly vulnerable and bears will follow with conviction on a breakout. Although many are calling for different bullish patterns, the reality is that there is a lot of bias at this stage, and there is no clear bullish price pattern. There was a modest spring at 39500, which is bullish per see with good volume. However, the bulls follow-through was weak and with poor volume. BTC has just recently annihilated a cluster of strong supports for the uptrend, which are now all turned in resistances, and they are all sitting between 44 and 52k. I don't see much momentum, and considering the stochastic is almost overbought already, a strong push up is unlikely. Technically or you break them gradually step by step, or the asset has strong momentum behind and break through with strength... Hence in my head, I see continuation. I would reconsider my hypothesis when BTC breaks above 46k. Also, the Elliott Wave counting is not favouring an uptrend but rather a downtrend. Risk management is paramount, and you should know in advance invalidation points and your take profit, so do not copy and paste, follow your strategy as you don't know mine. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDShort
by CFcryptoTA
BTC bottom and top signalHello Everyone, One of the best Technical Analysts in the world in the book Technical Analysis Explained (Martin J. Pring) explained the use of KST and different moving averages to track reversal and enter when an asset is bottoming or exit when it is topping. In this two indicators system, I use the 12 MA for short term price action and the KST, which track four cycles at any time, giving more weight to long term cycles. This system is very useful as it provides reliable signals, bullish or bearish, by following five different cycles at any given time. As you can see from the chart, it has been very accurate for the past year. So are we bottoming yet? The system: BOTTOM: Price break above 12 MA (purple) with a bullish cross of KST, BOTTOM signal TOP: Price break below 12 MA with a bearish cross of KST, TOP signal. So following the system, I won't look for any long entry. Instead, I will look for a short position or exit on this rally. Can the system fail? Yes, it can. Likely to fail? 10-20% chance. So in trading, a system that gives you 80% reliability is an edge compared to the market. What will you do? (Comment below) FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA
3
BTC FLAT Hello Everyone, In August, I was already evaluating the possibility of a Zig-Zag correction for the 4th primary wave of Bitcoin. However, as things started to heat up and BTC broke above the 60k level, I abandoned the idea. However, back then, I failed to evaluate the possibility of a flat correction. This makes much more sense considering the alternation rule of corrections in Elliott Wave principles. This rule state that if wave 2 of a correction was a Zig-Zag (Check 2019 correction), then wave 4 of the cycle will be either a Flat, Triangle or complex (Double three, Triple three). It was then logical to discard the Zig Zag idea for this correction and embrace either a Flat, Triangle or complex correction. Considering that the possibility of a triangle has nearly failed with the break below the 50 week MA at 46k, I then moved to the idea that we are into a Flat formation. There is to say that the most common correction for wave 4 is usually a triangle. However, I believe the probability of this has now narrowed down considerably. The only possibility of a triangle here is a rising triangle. These are some of the rarest formations and usually, happen when the fundamentals and sentiments are so strong that the asset barely retrace. In my opinion, in the current financial situation, although the fundamentals of BTC are strong, the monetary policy, recession, inflation at its highest after four decades and interest rates hikes for 2022, I believe the flat formation is way more logical. If you look at the chart, I tried to show you visually the three different types of Flat formations and why I believe the regular flat is most likely. Many are hoping in the running flat. However, this is the rarest of the flat formations and similarly to the rising triangle due to high momentum wave B finishing well above the start of wave A and wave C end into the price action of wave B well above the end of wave A. Now wave B wasn't a great higher high well above A, but a fake-out that fully agree with the idea of a regular flat. In a regular flat wave, C is made of 5 waves and is usually a painful wave for the market participants. It usually retraces up until the end of wave A, and it usually finishes at 123% or 138% of the projection of wave A. Considering this, I expect wave C to end at around 29k. This also agrees with the Elliott Wave channel lower boundary, which I have drawn previously in other ideas. I can be wrong, and this correction unfolds in a complex correction with the first ABC being a ZIG ZAG, the second a ZIG ZAG, and now forming a small triangle. Nevertheless, rest assured that after this correction, BTC will hit my targets of 185K. The timeline has just been delayed. I would love to hear your ideas, so please feel free to comment below. FOLLOW ME, SHARE, LIKE AND COMMENT.
by CFcryptoTA
1