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BITCOIN This is the Bullish Cross that will take it to $33kBitcoin (BTCUSD) just made a hugely important and unique Bullish Cross on its LMACD. Those who follow us regularly over the years, know that we like looking into assets (and Bitcoin in particular) from different time-frames that provide a more spherical overview of the market and the direction. This time we analyze the 15D chart as it just formed a Bullish Cross on its LMACD indicator. This is a very rare pattern which below the 0.00 (LMACD) level has always formed straight after a Bear Cycle Bottom. Even during Bitcoin's first Cycle (2011/12) and the March 2020 COVID crash, the Bullish Cross was formed marginally above the 0.00 level. Now the 1W MA50 (red trend-line) comes into the spotlight, as it is the Resistance to beat. Every 1W MA50 break following a 15D LMACD Bullish Cross, hit at least the 0.5 Fibonacci retracement level in a maximum of two weeks. We can make a case about the 0.618 Fib as well, which failed to get hit only marginally on October 28 2015. As a result, with the 1W MA50 currently at 25615, we can expect another sharp 2-4 week rally once BTC breaks it, that will target at least the 0.5 Fib at $32900 with a riskier extension being the 0.618 Fib at $38900. What do you think? Has this 15D LMACD Bullish Cross shaken your last bearish bias and if so, will you buy the 1W MA50 break-out confirmation? 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
14
BITCOIN Transition from a Wedge to an Inverse H&S showing 33.5k?Bitcoin (BTCUSD) is up +40% since the start of the year and did so by breaking above its former Falling Wedge pattern that was holding since the June 18 2022 Low. On this 1D time-frame, we see that there is a high probability of the Wedge break-out to transition BTC into the next pattern that could be an Inverse Head and Shoulders (IH&S). Such patterns are technically market bottom formations and initiate sharp recoveries. Right now the price is forming the Right Shoulder and could range within it as it did on the Left Shoulder. The rise after the completion of the Head until Saturday's High is around +44%. After BTC breaks above its Right Shoulder, we can measure another +44% to find out the target of the IH&S pattern. At the moment that is a little over $33500. By the time it reaches that level, it may coincide with a test of the all important 1W MA100 (green trend-line), which has been the last long-term Support that Bitcoin broke on May 06 2022. If you are looking for confirmation of this move, keep an eye on the potential 1D Golden Cross (blue 1D MA50 crossing above the orange 1D MA200) and a break above the 1W MA50 (red trend-line), which has been untouched since April 05 2022. So what do you think? Will we hit $33.5k that fast after the Inverse Head and Shoulders break? 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
13
BITCOIN ahead of 1st 1W Death Cross in history! End of rally?Bitcoin (BTCUSD) has started 2023 with a relentless +40% rally, completing a +50% rise from the November Low. But perhaps the biggest technical development of the upcoming days is the emergence of the Death Cross formation on the 1W time-frame. This is when the 1W MA50 (blue trend-line) crosses below the 1W MA200 (orange trend-line) and on Bitcoin in particular this will be the first such pattern in history. It is inevitable and it will be formed in the next or 2 weeks maximum. Being a technically bearish formation, will it affect the price negatively and restore the bearish trend long-term? Well we need a examine a few more parameters in order to determine this. ** Up by 50% ** Like we said, BTC is up +50% from its November Low. Throughout in history, every time the price rose by +50% or more after hitting the 1W MA200, it was a Cycle bottom, with the exception of the January - March 2015 rise. ** The RSI > 60.000 factor ** The one condition however that when fulfilled, always indicates that the Cycle bottom is in, is when the 1W RSI breaks above 60.000 after hitting the 1W MA50. We can see that typically, those take place at the same time. The January 2020 break doesn't fall into that category as, not only did it take a once in 100 years event to crash the price (COVID lockdowns March 2020) but also BTC wasn't on a rally rebounding on the 1W MA200 (previous condition we set). As a result, the RSI > 60.000 is a Market Bottom rule. ** Where are we now? ** At the moment, the 1W RSI is at 56.520 and the 1W MA50 around 25620. As mentioned, we are in a peculiar spot, largely uncharted territory for Bitcoin ahead of this inevitable 1W Death Cross, as in addition this time the rebound is being done way below the 1W MA200 and not on it. However, a simultaneous RSI 60.000/ 1W MA50 break, being at more than +50% from the Low, checks all the boxes for being past a Cycle Bottom, effectively starting the 1st rally of the new Bull Cycle. Do you think the 1W Death Cross has the power to eventually invalidate the Bull Cycle? 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
25
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