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BITCOIN Megaphone breached! How high can the price go?Bitcoin (BTCUSD) broke yesterday above the Bullish Megaphone pattern that kept it at bay since the October 24 High. The previous Bullish Megaphone of September - October technically served as a consolidation belt before the price broke upwards to deliver a +31.86% peak from the Megaphone's last Higher Low and +40.50% from its first Low. The ROC shows a similar behavioral structure between the two patterns. If it continues this way, then a new +31.50% leg will make a perfect contact on 48220, which is the March 28 2022 High, essentially the Bear Cycle's first Lower High and a key Resistance level of the current Bull Cycle. Technically, as long as the 1D MA50 (blue trend-line) holds (has been doing so since Sep 28), that is a realistic end target for this bullish wave. But what do you think? Do you agree that this is a likely extension for this rally before the price pulls back or you expect a pull back now? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
19
BITCOIN Hello April 2022! 40k cleared!Bitcoin (BTCUSD) broke above the psychological 40000 mark, trading now even above 41k. Those are levels that we haven't seen since the week of April 18 2022! And we don't know yet where this euphoric (on Fed, ETF anticipation) candle will stop. Technically, the next Resistance level is the 48220 High that was the first Lower High made after the November 2021 All Time High, on the week of March 28 2022. With the current trend structure it is not unrealistic to hit this zone as the pattern remains a Channel Up since the November 2022 market bottom. The current bullish leg resembles that of March 2023 and the price action now is on a course to price the new Higher High near the 48220 Resistance. Beyond that it is high speculation but if it continues to repeat the waves of the Channel Up and the sequence after the April 10 2023 High, we could see a Falling Wedge bottoming close to Halving 4 (expected in April 2024) and as you are all aware of, the supply shock that the Halving causes to BTC, should gradually set in motion the Parabolic Rally of the Bull Cycle. In addition to the above, BTC is about to complete in the next 2-3 weeks the first ever Golden Cross on the 1W time-frame, which is when the 1W MA50 (blue trend-line) crosses above the 1W MA200 (orange trend-line). It will be really interesting to see how the market will react for the first time to such a bullish technical pattern. But what do you think? Do you think that Channel Up is too scripted to be true? If not, can Bitcoin test 48k next straight away or a pull-back to test the middle/ bottom of the Demand Zone would be more realistic? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
🚨Bitcoin is Ready for Correction🚨✅Bitcoin moved as I expected in previous posts and was able to touch the upper line of the Ending Diagonal again ( MicroStrategy helped in this movement by buying $600 million of Bitcoin). 📚The Ending Diagonal Pattern ( Elliot's point of view) is the same as the Rising Wedge Pattern ( Classical Analysis point of view). 🌊According to the theory of Elliott waves , Bitcoin is at the end of the main wave 3, so to complete this wave, microwave 5 of the main wave 3 had an Ending Diagonal structure. 💡In my opinion, the Ending Diagonal Pattern is standard so that the Fibonacci ratios are consistent with this pattern, as well as Regular Divergence(RD-) between Consecutive Peaks . 🔔I expect Bitcoin to start falling after breaking the lower line of the Ending Diagonal Pattern and Support lines and at least fall to 🟢 Support zone($36,000_$35,280) 🟢 or maybe Fill the lower 🔵 CME Gaps 🔵. ❗️⚠️Note⚠️❗️: If BTC can break the 🟡PRZ🟡, the Scenario will change. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
208
🗺️Bitcoin Roadmap🗺️⏰(1-hour time frame)⏰💡Bitcoin tried many times to break the 🟡 Price Reversal Zone(PRZ) 🟡 but failed every time. 🌊In terms of Elliott wave theory , Bitcoin seems to have found microwave 5 of the main wave C at the 🟡Price Reversal Zone(PRZ)🟡 and the upper line of the Rising Wedge Pattern . 💡One of the confirmation signs of our wave counting can be the presence of Regular Divergence(RD-) between two micro waves 3 and 5 of the main wave C. 🔔I expect Bitcoin to attack the Support lines and the lower Rising Wedge Pattern line after breaking the 🟢 Support zone($38,000_$37,650) 🟢. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
26
BITCOIN on the verge of a global money supply rally.On today's study we plot Bitcoin (BTCUSD) against two unique formulae that encompass the basic essence of the global money supply. The formula in blue has a differentiation towards Chinese bond yields while the orange on the Chinese Yuan. Both are regressed against the U.S. Dollar and the batch of the U.S. Balance Sheet, Chinese Central Bank Balance Sheet and the ECB's Assets. BTC bottoms exactly when the orange trend-line bottoms and it starts the parabolic rally of its Bull Cycle when the blue trend-line bottoms on a Lower Low. Right now blue has started to rise after just bottoming on a Lower Low. This is contrary to common belief and traditional Halving theory, but according to the above monetary metrics BTC may just be starting a new parabolic rally much earlier than anticipated. Do you agree or it's too soon and you'll wait for the Halving? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
3
BITCOIN Monthly RSI tells you where the Cycle Top will be!Following our recent Bitcoin (BTCUSD) Thanksgiving study on the trend-line angles, we decided to expand it a bit further and apply a similar reasoning on the RSI, this time on the 1M (monthly) time-frame. The result is more than informative as, with the additional use of the Fibonacci Channel levels for better display, we see that from bottom to top, every Cycle displays an RSI trend-line on a 40° angle (approximately). Applying the same measurement on the current Cycle, we get a rough date for the next Top at around March 2025. This doesn't of course give a dollar figure of BTC's price at that time but rather tells you to (at least) start considering taking (some) profits on your holdings. Do you agree with that model? Are going to sell around that date? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
20
HAPPY THANKSGIVING! Let's see Bitcoin's price on this date!Let me begin by wishing everyone in the TradingView community a Happy Thanksgiving! A day of joy, gathering and happy family moments! Aren't you curious to see where the price of Bitcoin (BTCUSD) was trading on this day in the previous years? If so, have a look: 2010: $0.28 2011: $2.49 2012: $12.51 2013: $813 2014: $376 2015: $328 2016: $739 2017: $8,771 2018: $4,015 2019: $7,150 2020: $18,764 2021: $58,927 2022: $16,353 2023: $37,000 So the obvious question is this. Do you see the pattern?? Since 2009 there have been 10 Thanksgiving dates where the price of BTC was higher than the previous year and only 4 where it was lower. Only once we've seen two straight red Thanksgivings and at least two green Thanksgiving dates follow. This year we have a green one, more than double the price of 2022 and in fact this is the first time BTC doubled coming from a red Thanksgiving since 2016. An interesting pattern that arises on this chart is that when measuring the line that connects the Thanksgiving closer to the Cycle Top back to years, we can see that its angle is lower (naturally) by a certain rate. From 2015 to 2017 it measured the previous angle x 0.64. From 2019 to 2021 it was the previous angle x 0.68. From 2022 to 2024 based on this progressive pattern, is should be the previous angle x 0.72 (0.68 + 0.04). That gives us a rough value just under $80000 for the next Thanksgiving (November 28 2024). It is very possible that the Cycle top will be priced higher a few weeks after on an aggressive spike above $100k, as BTC often does (only the June 2011 Cycle Top was way off, being in the middle of two Thanksgivings). But what do you think about this model and its projection? Are you expecting a BTC price around 80k on the next Thanksgiving and if not, what is your estimate? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
32
Bitcoin is Ready to ⚔️Attack⚔️ to Support zone⏰(1-Hour)⏰✅As I expected, Bitcoin could NOT break the previous Top and important 🟡Price Reversal Zone(PRZ) 🟡. 🏃‍♂️Bitcoin has been moving in an Ascending Channel near the 🟡Price Reversal Zone(PRZ) 🟡for the past few days but managed to break the ascending channel and Support line(1) a few hours ago. 🌊According to Elliott's wave theory , all the waves inside the ascending channel formed a Double Three Correction(WXY) . 💡As in my previous post, Bitcoin still has a chance to fill the first 🔵CME Gaps🔵. 🔔I expect Bitcoin to gradually approach the 🟢 Support zone($36,000_$35,560) 🟢 and Support line(2) and eventually break them. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
64
Bitcoin- Back at resistance. Will it break this time?In my previous BtcUsd analysis, I said that 35k-35.5k is strong support for bitcoin and the main cryptocurrency remains bullish as long as this level is intact. As we can see from the chart, BtcUsd touched and reversed from this zone 3 times in the past month suggesting there is a strong demand under 36k. Yesterday the price rose back to resistance and I'm looking for a break. In this instance, Bitcoin could pass above the important 40k level. I remain bullish as long as support is intact.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
BITCOIN ETF what?? This is a cyclical USD-fueled rally!Bitcoin (BTCUSD) is seeing in the past 30 days the first legitimate medium-term rally since March - April. The ETF acceptance anticipation has been cited as one of the reasons but after the SEC's latest delay, we see that it hasn't affected BTC's price as much and the reason is something else. Perhaps the strongest technical reason why Bitcoin has been rallying, is the sharp decline of the U.S. Dollar Index (DXY). Displayed by the green trend-line, we can see that its October 09 peak coincided with Bitcoin's rally. DXY tends to peak first and after it starts to decline, Bitcoin (also a general observation for commodities too, not limited to digital assets) catches as a few days later. As you can see on this chart (1W time-frame), it is a cyclical behavioral pattern where an initial decline on the DXY (red Flag) fuels BTC's last pre-Halving rally. When this DXY pattern (blue Arc) ends, it makes a Higher High peak outside the pattern and gets hammered aggressively (red hammer). This starts BTC parabalic rally, what we call at Tradingshot "Post Halving expansion". We are expecting that the following summer. Do you think however that a SEC ETF approval earlier in 2024 will dramatically increase the chances of such a rally happening earlier or it's more tied to the DXY? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
BITCOIN First 1W MA50/100 Bullish Cross since December 2019!!Bitcoin (BTCUSD) will complete this week or the next the first 1W MA50 (blue trend-line) - MA100 (green trend-line) Bullish Cross since the week of December 02 2019! Such a bullish pattern, exactly 4 years after, is a Cyclical buy signal which technically is the last we are going to get during this Cycle. With the Halving being a fundamental signal, this Bullish Cross is the early signal of a pre-Halving buy, which sets the stage for the Bull Cycle's final parabolic rally. Time-wise it takes place almost during the same time period (Time Fib 2.236 in 2016 while today and 2019 it took place on the 2.0 Time Fib). As you can see, following this formation, BTC tends to rally to the 0.786 Fibonacci retracement level (if it hasn't done so before as in 2019), while the 0.5 Fib turns into the Support (it wouldn't have broken in 2020 if it weren't for the COVID crash). Observe the similarities on the 1W MACD also around the time of the 1W MA50/100 Bullish Cross. It rises on a Bullish Cross and forms a Bearish Cross a few weeks after, which delivers a low price level we won't break again during the rest of the Bull Cycle. So to sum it up, moving forward, Bitcoin targets the 0.786 Fibonacci at $50000, while the 0.5 or at most the 0.382 Fib (32000 - 27000) will support. But what do you think as we move towards the April Halving? Will 30k hold and more importantly are we on the path to hit 50k soon? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
9
BITCOIN has entered the Halving Phase and targets 50k.Bitcoin (BTCUSD) is under heavy volatility lately due to the ETF development and in times like this, we tend to zoom out into the longer term time-frames such as the 1W to get a better perspective of where we might be at with relation to past Cycles, in an attempt to filter out the short/ medium-term volatility of such news. ** Cycle classification ** On this chart we compare the current to the 2018 - 2021 and 2014 - 2017 Cycles. To get an insightful understanding of time and levels, we have categorized the Phases into Bear (red), 1st Rally (orange), Pre & Post Halving (blue) and Parabolic Rally (green). Based on that classification, BTC has just entered the Pre & Post Halving phase, with Halving 4 expected to take place in April 2024. During that phase, the price reaches or has already reached (in the case of 2020) the 0.786 Fibonacci retracement level, while keeping the 0.382 Fibonacci intact as a Support (notable exception of course March 2020 with the COVID crash, which was however an irregularity due to its once in 100 years occurrence). The 1W MA50 (blue trend-line) also poses as a loose Support. ** Now and new All Time High ** On the current Cycle, the 0.786 Fib is at $50000, so based on our model, either now or 3-4 months after the Halving it should be reached. At the same time, we shouldn't drop below 27000 (0.382 Fibonacci). Once the 0.786 Fib breaks, BTC should test the 69000 All Time High (ATH) in a matter of weeks, which will be the start of the Parabolic Rally phase. Beyond that, it is a matter of how high the current Cycle can extend to in pricing the next ATH. The 2017 Cycle peaked on the 2.382 Fib extension and the 2021 on the 1.618 Fib extension. That is the Theory of Diminishing returns on every Cycle, as adoption gets greater. Technically it is natural to expect no more than 1.382 Fib, which is a little over $120000. Perhaps the worst case scenario might be 100k but of course much depends on the fundamentals at the time, e.g. how adoption evolves, how much capital will flow in case of an ETF approval etc. But what do you think? Do you agree that 50k will be reached within our designated Pre & Post Halving phase? Or it is too high too soon? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
11
BITCOIN This'll be the last pullback before the parabolic rally** ETF anticipation ** Bitcoin (BTCUSD) is rising against the majority's sentiment, which is something it does more often than not, fueled of course on a large degree by the heavy speculation over the SEC's Bitcoin ETF decision. Fundamentally, an approval can certainly cause another leg upwards based on euphoria, before the effect recedes as we move towards Halving 4 in April 2024. ** The RSI's Fibonacci Channel motion ** Based on certain technical data on the 3W time-frame, we can technically see only a minor uptick and then a multi-week pull-back before the bullish trend is resumed. This is based on the 3W RSI, which is trading inside a Fibonacci Channel Down since its inception, testament that despite BTC's enormous long-term growth, each Cycle shows diminishing returns (as adoption gets higher). The RSI is almost on the 0.5 Fibonacci retracement level, which in the past has delivered a pull-back to at least the 0.382 Fib (exception September 2019 when it dropped lower as it corrected the huge Libra hype). The 0.5 Fib rejection is shown by the red arrows. When a rebound took place on the 0.382 Fib (green arrows) Bitcoin started a rally that never looked back. The whole price action is displayed by the blue circles. On top of that, see how beautifully the overall motion is depicted by the Sine Waves. ** Last correction before the rally ** Of course much depend on the upcoming ETF decision, but even in the event of a considerable new price surge, BTC should technically give one last pull-back at least to the 0.382 3W RSI Fib, that will most likely be the last opportunity to buy before the Bull Cycle's parabolic rally starts. Do you agree with this RSI Fibonacci projection? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
4
BITCOIN Is this the temporary Top before the Halving?Bitcoin (BTCUSD) has almost hit 37k today, and is getting closed to the 0.618 Fibonacci retracement level (39300), which is a key level for the Bull Cycle. We may be seeing a temporary Top for the market on what can be the start of a few months of sideways trading/ consolidation before the price starts rising again towards Halving 4 (April 2024). The reasoning behind this assumption is that the Higher Lows trend-line that starts at the bottom of every Cycle, formed medium-term Tops (green circles) in the past two Cycles on February 15 2016 and February 10 2020, as it turned into a Higher Highs Resistance. The price has been at or marginally below the 0.618 Fibonacci level on those occasions. At the same time, the dashed Higher Lows trend-line always supported, with the exception of March 2020 and the COVID crash, which was a market extreme. Every Cycle has so far had its own extreme event below the dashed Higher Lows, whether that was the Bitfinex crash in August 2015 or more recently the FTX crash in November 2022. Needless to mention that after a certain point, the 1W MA50 (blue trend-line) always becomes the Bull Cycle's long-term Support, and it appears that we are once more past this level as it successfully held from August until September. It is therefore very encouraging for long-term investors that both the 1W MA50 and the dashed trend-line have most likely turned into the Support levels that will lead to the point that the Parabolic Rally will take off but at the same time, we may be entering a phase where for a few weeks, BTC will trade sideways in a potential new accumulation phase. So what do you think? Is Bitcoin about to price a temporary top or will it march past the 0.618 towards 45k-50k? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
3
BITCOIN Closer to the Parabolic Rally than we think!Bitcoin (BTCUSD) typically starts the (final and most aggressive) Parabolic Rally sequence of the Bull Cycle straight after each Halving event. The next one (Halving 4) is expected in April 2024. Not too far away but the Vortex Indicator (VI) and Bollinger Bands Width (BBW) on the 2M time-frame show, we may be on the verge of starting it before the Halving. As you can see, the BBW historically bottoms after the Halving and may have as a Support a (dotted) Lower Lows trend-line. It is on course to bottom there in March 2024. But it is the VI, which may only be max 2 months away from making a Bullish Cross, which is a formation it has historically done right before BTC starts a long-term sequence of straight green candles (Parabolic Rally) straight to the Bull Cycle's peak. As a result, we may see this cross taking place on the next 2M candle (Jan 2024). What do you think? Can it be that we are that closer to the start or a "green only candle rally" than we think? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
50
BITCOIN Will a BTC ETF mirror Gold's post approval +350% rise?Undoubtedly it's been the talk of the year. We are talking of course about a potential Bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC). Many analysts believe that BTC's recent rise has been due to euphoria on a potential positive result. Expectations certainly are not always met but this time, they are higher than ever. ** Are Bitcoin and Gold comparable? ** So, do we have any historic framework to relate to and work on? Possibly. Bitcoin (BTCUSD) has been dubbed as the digital Gold due to its store of value (theoretical) attribute. Even though they are different markets and two assets that certainly have different volatilities, it is understandably so, as Bitcoin (portrayed on the chart by orange trend-line) is relatively new (compared to Gold's traditional monetary backing), on much lower capitalization and is natural to be so volatile in its early stages until mass adoption happens and the market matures. ** Gold's ETF approval pattern ** As a result, Gold's ETF introduction back in March 28 2003 may be the perfect (and perhaps only dependable) comparison we can make if we want to put a potential Bitcoin ETF approval into context. As you can see, Gold (portrayed on the chart by the candles) rose massively by +350% since its ETF approval. The rise from the previous peak (January 1980) to the post ETF one (August 2011), has been +124%. Even though they are on different time-frames (but understandably so as Bitcoin is digital and moves on a much faster pace), we have adjusted BTC's last Bear Cycle and the subsequent first Bull Cycle rally, on Gold's price action from the 1980 peak to the March 2003 ETF approval. Of course this assumes that Bitcoin's ETF will be approved and even more so now, but this is the only basis for comparison we can make. When/ if approved, the width (and price ranges) can be adjusted. ** Bitcoin's projection based on Gold's ETD pattern ** So on the right chart we can see a post ETF approval projection for Bitcoin based on Gold's pattern. As +350% rise would push the price near $160000. The symmetry is astonishing as the peak-to-peak trend-line from BTC's November 2021 High to that potential +350% one (160k) would also be +124%, exactly like Gold's! Amazing coincidence indeed but certainly shows us just how pattern recognition and comparison can give interesting results. Especially on identical fundamentals. But what do you think? Will a SEC approved Bitcoin ETF follow into Gold's footsteps? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
3
BITCOIN Get ready for $36.5k. One opportunity only to buy lower.Bitcoin (BTCUSD) is on the rise again following a late Sunday pull-back. This is a short-term analysis on the 4H time-frame where we point out the similarities of the current fractal with October 02 - 06 and September 19 - 23. As you can see the blue circle indicates that BTC already priced the first Low on the 0.236 Fibonacci level when the descending (Channel Down) RSI pattern that hit the Arc shape, and there is one possibility to make a Lower Low when the 4H RSI hits the 30.00 oversold mark. That will be the most optimal buy entry for those who missed the rally. If however the price breaks above the 35150 High (Fib 1.0) then we will have a standard bullish break-out signal in our hand. In both cases our (short-term) target is the 1.618 Fibonacci extension at $36500. Do you think Bitcoin will give that pull-back opportunity before 36.5k? Feel free to let us know in the comments section below! BONUS MATERIAL: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
1
BITCOIN When 100k Sir? Pick your poison..Bitcoin (BTCUSD) has started yet another of its impressive rallies and it's not even its final year parabolic one as we aren't yet past the next Halving! However as you can see on this 1M chart, +300% (310 in our particular example) rallies aren't all that uncommon for BTC even in the stages before the final parabolic rally, which is historically the most aggressive of the Bull Cycle. In fact, since 2015, Bitcoin had 2 such +310% rallies on each Cycle (4 in total), before the parabolic one. The most aggressive took 4 months (120 days) to reach +310%, the next one 8 months (244 days), then 10 months (305 days) and the longest one took 13 months (395 days). It's worth noting here that so far we haven't had any such rally during the current Cycle. Based on these ranges we can expect a +310% rally on Bitcoin, which would make a direct hit on the psychological and highly anticipated macro level of $100k, either on January 2024, May 2024, July 2024 or October 2024. Rallies of such magnitude don't happen without a reason and with the high anticipation of the Bitcoin ETF, the market may have the catalyst it needs to really boost this rally. Depending on its magnitude, media awareness and pure demand, pick you expected date! So do you think we will reach 100k sooner or later based on this model? Or we will need the final parabolic rally to do so? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
7
BITCOIN Fueled by sellers! There is no going back from this!Bitcoin (BTCUSD) had yet another great fractal signal last time we looked (October 13) that caught this whole $8000 rally from the 1D MA50 (see chart below): Many still argue that fractal analysis doesn't work, but for BTC in particular it has proved that time and time again, helps at providing timely entries and exits, especially on the long-term time-frames. Such is the 1W time-frame, where we want to shift our attention to today. The price broke above the 0.5 Fibonacci retracement level (top to bottom Cycle), while the 1W MACD formed a Bullish Cross. Remarkably, when those parameters were fulfilled, while BTC was supported by the 1W MA50 (blue trend-line), the market 'never looked back' from this. Exception and slight delay to this sequence was the March 2020 COVID crash (black swan event), as the price wouldn't have broken below the 1W MA50 or the 0.5 Fib as a matter of fact, if this 'irregularity' hasn't happened. Also, the 1W MACD wouldn't have broken below its Higher Lows trend-line, a line taken from the 2015 - 2017 Bull Cycle. If we apply it again on the current Cycle, we can see how well it has been holding. Every 1W MACD Bullish Cross is a buy opportunity from now on. Technically we should see new All Time Highs within 8-10 month from now. But what about you? Do you agree with this historical correlation and that 'there is no going back from this' for the price now? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
19
BITCOIN H&S close to being invalidated.Bullish move of the year?Bitcoin (BTCUSD) almost hit today 31050, which is the Shoulder level from the April 14 High that formed the Left Shoulder of the Head and Shoulders (H&S) pattern of the last 6 months. As long as this holds, it will be the Right Shoulder of the pattern, which translates into a Sell Signal, targeting the 28150 Support and potential contact with the 1D MA50 (blue trend-line). If on the other hand the price closes above the Shoulder level or better yet the Head level (31830), it could be perhaps the bullish break-out move of the year. A H&S pattern typically targets the 2.0 Fibonacci extension from Head to neckline. We could assume that the 2.0 Fib invalidation target could be from neckline to Shoulder level. That would give us a buy target slightly above 37000. Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
1
BITCOIN Overbought but it doesn't matter!Bitcoin (BTCUSD) is rising strongly today, against the majority's sentiment which after the ETF fake news earlier, was calling for (much) lower prices. We are almost on Monday's High, with the 1D RSI overbought above the 70.00 territory, but that may not matter at all, in case you are expecting a technical correction. Assuming the 1 year pattern is a Channel Up, the current rise is the technical bullish leg towards a new Higher High. It is supported by the 1D MA50 (blue trend-line) and now by the 1D MA100 (green trend-line) as well. The previous bullish leg was also confirmed after breaking above the Lower Highs trend-line but didn't stop despite turning overbought on the 1D RSI. On the contrary it needed to form a Bearish Divergence of Lower Highs, before the first pull-back took place. As a result, we don't expect a correction now, despite the overbought RSI but rather will wait for at least 3 Lower Highs, in order to take profit and wait for a 1D MA100 correction. That will be the buy with which we will target a symmetrical Higher High at 35500 on the 1.5 Fibonacci extension. But what do you think? Does it matter that BTC is overbought or not and we will see much higher prices now? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
7
BITCOIN 7 months of PAIN coming to an end??Bitcoin (BTCUSD) broke this week above the 1W MA100 (green trend-line) for the first time since the weekly candle of May 02 2022. The weekly candle closing is of particular interest as the price has quickly pulled back so far below the 1W MA100 (cointelegraph's fake news tweet). If it closes above it, then we may finally see an end to BTC's painful 7-month consolidation that is loosely supported by the 1W MA50 (blue trend-line). Along with the 1W MA100, we may also get a huge bullish signal from the 1W RSI, which broke above its Lower Highs trend-line (that is in effect throughout the whole consolidation), and if the week closes above it, will give the early buy. An emerging Bullish Cross on the 1W MACD, will come as the icing on the cake to confirm the bullish break-out. But what do you think? Do you think this 7-month agony is about to end on this week's closing? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
3