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BITCOIN 33k seems inevitable next. This pattern always delivers.We talked yesterday about how beautifully Bitcoin's (BTCUSD) Adam and Even (A&E) pattern delivered a textbook short-term target at 21650: We looked into such past occurrences more and discovered even more interesting clues for the immediate future. As this analysis shows, every Bear Cycle bottom has been formed on an A&E pattern (even the first Cycle in 2011 but on the current analysis we look into the 2014/15, 2018/19 and 2022/23 Cycles). Following the A&E pattern and break above the 1D MA200 (orange trend-line), if no unexpected black swan event takes place (such as the FTX crash in November or the Bitfinex crash in August 2015), BTC can start a relentless rally, the first of this Bull Cycle, and if supported by the 1D MA50 (blue trend-line) can reach at least as high as the 0.5 Fibonacci retracement level as in October 2015 and May 2019. Right now the 0.5 Fib is exactly at 32900. In 2015 it took the price 114 days and in 2019 82 days from the completion of the A&E pattern before reaching the 0.5 Fib. If we take the maximum 114 day extension as a projection, we can expect it to hit 33k by early May. Do you think that is a realistic immediate target? Feel free to let me 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
8
BITCOIN's Adam & Even was spot on! What to look for next.Bitcoin's (BTCUSD) rise last week took many by surprise but what few noticed is that it basically made the theory into practice. The application of the Adam and Even (A&E) pattern that started forming since the November FTX crash went under the radar but was spot on with its target. As you see Wednesday's peak wasn't just a consequence of the 21500 Resistance that was formed by the November 05 top but also completed a +18.00% rise from the December 14 High, which was a proportional rise (18%) from the November 21 Low. Like we said, the application couldn't have been more precise! So what to look for right now? Well BTC is now sideways and about to test the 4H MA50 (blue trend-line) for the first time since January 06. A break can seek the 4H MA200 as its last Support. You should look for confirmations that will either lead to that correction or the extension of the rally. First keep an eye on the 4H MACD. A Bullish Cross will be a signal to buy into round 2 of the rally. The 4H RSI has a clear Higher Lows trend-line as its Support and a Lower Highs trend-line is leading it there. A break above the Lower Highs earlier, will again be a buy signal. ------------------------------------------------------------------------------- ** 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
26
BITCOIN The Bollinger Bands delivered when no-one expected!Exactly 2 months ago right after the FTX aftermath, we posted an alternative analysis using a not so popular indicator, the Bollinger Bands Width (BBW): For a broader perspective, that was in combination with the Fib MAs as the MA350 (green trend-line) offered Support. As this held and the BBW rebounded, we mentioned then (which was a time of fear and panic in the market) that this was a sign of a bottom formation, similar to all prior Cycles (indicated by the circles). The BBW delivered this beautifully and now Bitcoin has broken all the Bear Cycle Resistances and has technically entered its new Bull Cycle. This time we add a few extra elements to the BBW. Number (2) is where the BBW starts to rise and picks, which officially starts the first rally of the Cycle. This means that you should keep an (very) close eye to the BBW in the next few weeks, as a potential surge will be the 2nd best buy entry that the new Bull Cycle will offer. Are you waiting for this or any other signal to buy or are have you already in? Feel free to let me 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
8
BITCOIN Three mega rally indicators flashing green all at once!This is not the first time we look at Bitcoin (BTCUSD) on the 3D chart , but it is the first time that three major trend indicators all give a big long-term buy signal at the same time: 1) The Super Trend indicator, which we have used extensively to maintain perspective during the Bear Cycle, just waved a green flag for the first time since December 2021. 2) The price broke inside the Ichimoku Cloud for the first time since December 27 2021. 3) The Mayer Multiple broke above its MA period for the first time since November 2021. The last times all those indicators aligned their buy parameters at the same time was at the end of Bear Cycle bottom sequences, right before the first rally of the new Bull Cycle started: January 04 2012, July 09 2015, April 04 2019 (note Mayer MA data don't data before September 2012)). This mix of green flashes make up a strong buy signal for the long-term and the real question now is how aggressive this new first rally of the new Bull Cycle will be. Will it be as aggressive as April - June 2019 or February - August 2012 or less aggressive as August - November 2015? Feel free to let me 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
40
BITCOIN rhymes perfectly with previous Cycle bottoms. 25k next!Bitcoin (BTCUSD) on Friday above its 1D MA200 (orange trend-line) for the first time since December 31 2021, which is the level we have rendered all this time as the one that will start the new Bull Cycle. On this analysis on the 1D time-frame, we compare BTC's current Cycle bottom to those of 2018/19 and 2014/15. As you see, during those Bottoms, when the price broke above the 1D MA200, it quickly hit the 1W MA50 (red trend-line) within 3-4 weeks, always having the 1D MA50 (blue trend-line) as Support. On the April 02 2019 1D MA200 break-out in particular, the 1D RSI hit the 89.00 level before retracing, just as it did today. These RSI retracements don't indicate trend reversals, just a re-balancing of the enormous buying pressure. It is interesting to add that on both previous bottoms, the 1W MA50 was hit on a Resistance level (red zone) made by a previous Lower High during the Bear Cycle. This time the strongest candidate for this level appears to be 25300 (August 15 2022 Lower High). What could happen after that? Well, as long as the 1D MA50 supports, Bitcoin can continue the rally past the 1W MA50, as it happened in May-June 2019. A break below the 1D MA50 though, could deliver one last major pull-back to the 19k-20k or even 17k supply zones, similar to what happened on August 2015. Feel free to let me 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
6
Bitcoin- New leg up- probable, FOMO- not advisableBitcoin reversed around 30% from November's low with more than 20% made this year, and I already see a lot of people calling for a bottom. Indeed, this is a strong reversal, but calling for a bottom is a little early and, in my opinion, the economy is not out of the woods, by far. Nevertheless, in short term, I'm strongly bullish and I expect a new leg up. Yesterday, Bitcoin had an intraday correction and this could be it and a break above 21 could again accelerate gains to 23k. However, from a speculator's point of view, a buy here is not making sense from a risk perspective In conclusion, dips under 20k should be considered good buying opportunities, with a stop loss under 18k and a take profit around 23k
BITSTAMP:BTCUSDLong
by Mihai_Iacob
18
Bitcoin- Traders should be careful with buy trades nowPretty quickly my target of 21k was reached and, as explained on Monday's post, my trade closed in TP with 1:4 R:R. My optimism from now on is very reserved though... Indeed, we have a higher low in place and Bitcoin is well above 18k support, however, the last 3 days are marked by an almost 20% rise and a correction could follow soon. Technically speaking, above 21k is the resistance zone and from this zone, a correction could start. Looking at a 1-hour chart we can see a small consolidation that resembles a small pennant, so a new high is not out of the question, but, as I said, if you are not scalping the market, in my opinion, is not worth the risk of a buy trade. In conclusion, I will look to buy around 19k and if is not dropping there it can go "to the moon" without me:)
BITSTAMP:BTCUSD
by Mihai_Iacob
23
BITCOIN Major 1WRSI bullish breakout but heavy Resistances aboveBitcoin (BTCUSD) broke above its 1W RSI Lower Highs trend-line that was holding since January 2021! As you realize this is a major bullish break-out on the long-term scale and as the price turned the 1D MA50 (blue trend-line) into a Support, it is staging a bull run. However there are still significant Resistance levels ahead. The first is the Lower Highs trend-line that started on the August 15 2022 High but perhaps the most critical one is the 1D MA200 (orange trend-line), currently at 19545, which is unbroken since December 31 2021. The Lower Highs trend-line of the November 10 2021 High may be the oldest Resistance running, but technically there is more weight on the 1D MA200. Finally, breaking above the 25200 August 15 High, would mean the first Higher High since the 2021 market top. There is still significant road to cover, as the Bullish Megaphone pattern that BTC is trading in since the November FTX crash could be another sell accumulation pattern, common within the 2021/22 Bear Cycle (see the dotted Rising Wedge, Channel Up patterns). As a result, a break below its bottom (Lower Lows) can lead to the 15500 Support again, even a new Low closer to 15000. But arguably the 1W RSI Lower Highs break-out after 2 years, is a signal that shouldn't go unnoticed but unfortunately such signals among extreme psychological states (greed/ fear) tend to go unnoticed near market tops of bottoms. Do you think this is an early sign of a market bottom and bullish reversal? Feel free to let me 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
9
BITCOIN Closed above 1D MA50 for the first time in 2 months!Bitcoin (BTCUSD) has closed a 1D candle and is now comfortably trading above its 1D MA50 (blue trend-line) for the first time in 2 months (since November 07 2022), turning it into a Support. The pattern since the August 15 High is a Channel Down, within a Falling Wedge (since the June 18 2022 Low). Having lasted for almost 6 months, this can be viewed as a huge accumulation zone. In any case, there are certain fully distinct formation within this pattern. The price action since the FTX crash started on November 06, is quite similar to that since the August 15 High. As you see both peaked on a (red) Channel, made their fist fake-out above the 1D MA50 on the (red) circle, second on the (red) Flag and the price is now back above it as it was on October 25/26, potentially forming the final Channel that will test the top (Lower Highs trend-line) of the Channel Down. There is also an inner Lower Highs trend-line involved (dashed). The 1D RSI is also repeating a similar pattern. So where do we stand now? Well a break below the 1D MA50, or even more accurately the Internal (dotted) Higher Lows trend-line) should be bearish targeting the 15500 Support (November 21 Low) or even a Lower Low on the Falling Wedge's bottom. On the upside, a break above the top of the Channel Down/ Wedge, is the first bullish sign but we won't consider it confirmed on its own. Ideally we want to see a closing above the 1D MA200 (orange trend-line), which has been unbroken since 2021 (December 31), in order to justify a long-term bullish reversal. In that case, potential targets in succession will be the Fibonacci retracement levels, which as you see since the June Low, align (almost) perfectly with Support and Resistance levels. What do you think will happen next? Do you expect BTC to break again below the 1D MA50 or hold it and finally test the 1D MA200 first? Feel free to let me 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
5
Bitcoin- Mini bull run in the first semester of 2023?The long-term trend for Bitcoin, in fact, for all the crypto market, is bearish, and there's no question about this, and, to be honest, I'm almost sure we will have new lows in the future( as sure you can be when it comes to markets). However, at this moment, I think we will have a rebound for a few months and, as there's no straight up in a bull trend, the same is no straight down in a bear one. In this post, I will explain my reasons for thinking this, both technically and using common sense, and share my current trade and risk management. Technically: At the beginning of November, Bitcoin has broken under important 18k support and reached 15500. After a retest of the broken support, BtcUsd fell again, but, instead of making a new low, made a higher low and started to consolidate again and even made a small double bottom in the past month or so. Now the neckline of this double bottom is broken (17k) and the target for this is towards 18k resistance. In the eventuality of a rise to 18k, 16300 is confirmed as a higher low and there is a high chance of a break back above 18k which would confirm a false break and a bear trap. This whole outcome could lead to further gains and my first target is 21k. Common sense: First of all, after the 18k break back in November, the drop lacked continuation, instead, we have consolidation and even a lot of bad news came from the crypto market Bitcoin stud still. Second... This "invitation" to sell on a stable market because all will drop is something I don't buy. Selling at 16-17k and rebuying it at 10k would be too simple. My Trade: I know there are a lot of "ifs" in my analysis, but if you traded long enough you know that, in fact, you should work with "ifs" and take a trade step by step. Only idiots have certainties(and know that Bitcoin will go to 1mil or 0, depending on the bias), intelligent people have doubts, I'm not an intelligent man, so I have stop loss...:) So.. here is my personal trade at this moment: Bought at 16700 in anticipation of a break above 17k (so far I'm correct) Stop loss is around 16k, but for the sake of round numbers, let's say 15700 Take profit, at this moment, is at 21k Considering a buy trade of 1Btc, the potential loss is 1000usd and the potential profit si 4k, this would mean 1:4 R: R which for me, as a speculator, is fabulous. As I said, a lot could happen, and if the price is breaking 18k and going towards 20k with buying power I even can aim for 25k and remove TP from 21k. Nevertheless, my potential loss for this trade is already counted for and now is the market's turn. Have a nice trading week! Mihai Iacob
BITSTAMP:BTCUSDLong
by Mihai_Iacob
21
BITCOIN Perfect symmetry with 2015 shows recovery is imminentBitcoin (BTCUSD) has been practically flat since the early November FTX crash, which was a big blow fundamentally for the market. On the 1W time-frame, this is not the first time though we see similar RSI and MACD behavior. On this chart we compare Bitcoin's price action since the April 2021 High to the Bear Cycle of 2014/15. ** The true Cycle High ** As you see there are certain striking similarities. First of all, as we've mentioned numerous times on Tradingshot , BTC's true technical top of the previous Bull Cycle was in April 2021. The October/ November 2021 rise was the extension at the peak of the tech bubble caused by trillions of 2020 rescue packages. ** Lower Highs, 1W MA50/100, RSI and MACD ** The first similarity is that the duration between each Cycle's High 1 and High 2, which is where the Lower Highs trend-line (dashed) started, was 30 weeks in 2021 and 27 weeks in 2014. During that time, the 1W MA50 (blue trend-line) was supporting. After the price broke below it, following the start of the Lower Highs trend-line, it hit the 1W MA100 (green trend-line). During that whole time, the 1W MACD was on a decreasing rate, as the red histogram shows, while the 1W RSI formed an identical print. After a rejection on the Lower Highs trend-line, Bitcoin broke below the 1W MA100 and dropped significantly, forming the lowest RSI level. That started a Higher Lows (RSI) trend-line, which is holding to this day. At the same time the MACD has flattened. It is also interesting to see that the duration from the RSI Low up until the Bearish Cross between the 1W MA50 and 1W MA100 was 12 weeks in 2022 and 13 weeks in 2015. Again almost perfect symmetry between the two fractals. ** Where are we today? ** Getting closer to today, this time BTC maintains a considerably distance from its 1W MA50 (roughly at 26700 now) that it was in May/ June 2015 after breaking above the Lower Highs (dashed) trend-line. A rejection on the 1W MA50 caused one last low before the recovery started with Bitcoin never looking back on Higher Highs and Higher Lows. This time however the MACD is already near the same distance as in July 2015. The last low in August 2015 was 18 weeks after the 1W MA50/100 Bearish Cross. Today, we are on the 17th week since the September 05 2022 1W MA50/100 Bearish Cross. Does this mean that the recovery is imminent? It looks like even with a few weeks of delay, Bitcoin may be close to starting the first rally of the next Bull Cycle and never look back. Do you agree? Feel free to let me 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
10
Will Bitcoin rise back above 20k in the start of 2023?In the past months, Bitcoin trading was boring, to say the least with the ranges becoming smaller and smaller. However, the recent low is above the previous one which could be an indication of some gains in store for the main crypto. More, since mid-December BtcUsd formed a double bottom with confirmation above 17k. A break above this pattern could lead to a rise at 18k resistance and in the longer term, would confirm 16k as a higher low and Bitcoin could rise even to 21k.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
25
BITCOIN The January effect. Bottom's in?January of 2023 finds Bitcoin (BTCUSD) on an interesting place. There is a recurring pattern on every BTC Cycle in relation to the January after a Bear Market. As this 1W chart shows, every time Bitcoin is sitting within the MA350 (green trend-line) and Multiple 2 (blue trend-line), the market has already formed its Bottom and the price either consolidates or starts rising almost immediately. This has previously happened on January 2019, January 2015 and January 2015. After the price broke above Multiple 2, it never looked back (exception COVID March 2020 Black Swan event) and rose for 1.5 - 2 years. At the time of the January bottoms, the PSO was historically oversold at -1.00. Same level it is now. Do you think we have a new "January effect" and the market has bottomed? Feel free to let me 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
17
BITCOIN Happy New Year! 2023 the Year of Recovery?First and foremost on this second trading day of 2023, the TradingShot team would like to wish everyone on this community a Happy New Year, may each and everyone's goals be achieved! 2022 ended, took a whole of negative fundamentals with it (war, LUNA, FTX) and closed the yearly candle in (deep) red. As you see on this 12M (12 month) time-frame, Bitcoin (BTCUSD) had another two red 12M candles throughout its history and naturally those were the Bear Cycle years. Three green yearly candles followed after 2014 just as another three after the 2018 Bear Cycle candle. Technically, the year that follows the red 12M candle is a recovery candle that hits and closes around the 1W MA100 (yellow trend-line). That level is currently at 37627.10 and running flat (sideways). Do you expect history to repeat itself following the 2022 Bear Cycle candle and close 2023 around $37k before the Bull Cycle really takes off? Feel free to let me know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
14