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BITCOIN, MASSIVE Triangle-Formation, MAIN POSSIBILITIES!Hello, Welcome to this analysis about Bitcoin and the daily timeframe perspectives. Bitcoin in recent times has moved into a pivotal determination zone from where further developments will show its upcoming destinies. In this case, we need to see the changing dynamics in Bitcoins fundamental landscape as on the one side technological developments are moving forward while new regulatory movements are set in the such as the U.S. as well as the E.U. implementing a regulatory framework that is looking for several diverging developments to be implemented in Bitcoin and Cryptocurrency as an asset-class. On a more Long-Term-Perspective these establishments are likely to have an increased positive impact as Bitcoin and Cryptocurrency are becoming increasingly mainstream however on the more Middle-Term-Perspectives it is also of high importance to look at the technical factors as well. Therefore I detected the major formation Bitcoin is forming here and what we can derive from it for the upcoming destinies. Determining Developments: As when looking at my chart now we can watch there how Bitcoin moved into a huge range between 33.000 and 46.000 USD level, these two levels are the momentous boundaries in this whole range. Besides that Bitcoin is now building this paramount triangle formation where the lower boundary is steeper than the upper boundary. Within this triangle formation Bitcoin has the coherent wave-count with the waves A to C almost completed and now we can see that Bitcoin is setting up to form the wave D and the wave E. In the upcoming times, with the completion of the wave count, it is likely that the wave E finalizes within the main Decision-Zone marked in my chart in orange, from this level the final decisive movements will setup and Bitcoin will either conclude scenario A with breaking out above the Upper-Boundary as seen in my chart or the scenario B with breaking out below the lower boundary and also below the Decision-Zone. Upcoming Destinies: Taking all these factors into the consideration now it will be highly pivotal to await the final confirmations before moving to further conclusions. Nevertheless, as the factors are showing us now the bullish scenario A has with 65% a higher possibility to emerge than the bearish scenario with a possibility of 35%. This is given due to the fact that Bitcoin still has substantial support within the Point-Of-Control marked with the red line in my chart and also by past price action. Therefore when the scenario finalizes it will activate the upper Target-Zone as shown in my chart between the 50.700 and the 52.200 USD level. The objected possibilities can also change if Bitcoin shows up with increased bearish pressure and volume while completing the wave-count and in this case when Bitcoin does so and scenario B gets more likely the range between 29.700 and 30.200 USD will be activated as the Target-Zone if Bitcoin should complete the Triangle into this direction. In this manner, thank you for watching the analysis, all the best! "There are many roads to prosperity, but one must be taken." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
15
BITCOIN Ultimate historic Fibonacci extensions cheat-sheetOn this analysis I am taking Bitcoin's price action since it first started trading. I've used the Fibonacci Channel extensions to identify any possible correlations with how its Logarithmic Growth curve (the parabola that fuels BTC's growth on each Cycle) is shaped over the years. I've made several publications on why the +.382 Fibonacci extension roughly calculates the Highs. I've plotted that on this chart again and as you see so far the 2.382 Fibonacci extension has roughly predicted the December 2013 High while the 3.382 extension, the December 2017 High. The 4.383 Fib extension roughly sits at $350k. But let's circle back to how the Fibonacci Channel extensions can relate to these patterns. As you see, the first two Cycle Highs have been (naturally for the first) on the 0.0 Fib with bottoms outside of the 0.5 Fib. The High of the next Cycle was on the 0.5 Fib with the Low outside of the 1.0 Fib. The High of April 2021 was outside of Fib 1.0 and the current Low of 2022 exactly on the 1.5 Fibonacci extension of the Channel. This pattern, though not perfect, it shapes fairly well Bitcoin's parabolic path over the years. Based on that, the next High should be either on or on the left of Fibonacci Channel extension 1.5 and the Low either on or left of extension 2.0. Regarding the High that projection fits well with the 4.382 horizontal Fib extension of $350000 and could be achieved by the end of 2023. Is this a wild projection to make? What do you think? Can those Fibonacci Channel extension identify the logarithmic path of Bitcoin and if so is $350k a reasonable estimate? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
69
BITCOIN Is this Triangle a bottom formation?Another fractal analysis on Bitcoin. This time I compare today's price action on the 1D time-frame versus the February - April 2020 price action on the 12H time-frame. The reason for the difference between time-frames is the rate of variability. Due to the COVID flash crash of March 2020 and the equally fast and impressive recovery of the global markets due to the enormous money printing in the form of economic rescue packages, things evolved much faster in 2020. As you see, both in RSI terms and other indicators (MA50, MA200, Golden and Death Crosses), the two fractals are very similar. If we ignore the irregularity of the 1 week meltdown in mid-March, the 2020 Triangle was a market bottom formation. The market accumulated after the economic reassurances by the Fed and U.S. government in the form of this Triangle and after a break above the MA50 (blue trend-line), BTC broke above the Lower Highs (top) of the pattern. After it re-tested the top and the MA50 as a Support and held, the Ichimoku Cloud turned green and then entered an aggressive multi-month parabolic rally, which never looked back. Right now Bitcoin is still (accumulating?) within the Triangle, around the 1D MA50, but with the Ichimoku Cloud just turning green. Do you think this is a sign of bottoming? Will a break above the Triangle set in motion a rally similar to April-May 2020? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
42
BITCOIN Ascending Triangle and break-out targetsBitcoin has completed 2 months of side-ways consolidation and as this chart on the 1D time-frame shows, it has done so within an Ascending Triangle pattern. Its last top came with a rejection on the 1D MA100 (green trend-line), which is quite important but if this manages to break soon on the next Resistance test, then most likely the Triangle will break to the upside. Note that as long as the 1D CCI is within its neutral zone, most likely trading will be sustained within the Triangle. A break of the Triangle to the upside, still has to overcome the 1D MA200 (orange trend-line) which is the final barrier of turning bullish on the long-term, but technically the Fibonacci extensions will come into play: 1.5 at 50880, 2.0 at 56370 2.5 at 61850 and 3.0 at 67350. Notice that all of them match fairly well with previous Lower Highs during the down-trend. Similarly, a break of the Triangle to the downside, could target the -0.5 Fib at 28900 and -1.0 Fib extensions at 23450. So which way do you think this Ascending Triangle will break to and how high/ low can it get? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
38
BITCOIN Consolidation until the 1D MA200 breaks.Weekend fractal fun time for Bitcoin fans. Will keep it as short as possible. On the left we have BTC on the 1D time-frame today and on the right BTC on the 6H time-frame in July - September 2021. Not exact copies of each other, but with striking similarities nonetheless, especially on the CCI indicator. In 2021, a break above the MA200 (orange trend-line), was enough to initiate the massive end-of-the-year rally. Can a break above the 1D MA200 this time kick-start a similar one? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
38
BITCOIN, Ability Present To Complete Pivotal Triangle-Formation!Hi Community, Since Bitcoin in recent times increased with bullish volatility and initially pulled back to test previous ranges it is forming an interesting formational structure here that is likely to be worthwhile for the incoming price-action-events. Mainly we can watch an increased demand coming into Bitcoin and the whole Cryptocurrency market as geopolitical events paired with Inflation point to people increasing their trust in Bitcoin and Cryptocurrency, we can see this manifested in real volume and trading activity which increased over recent times. Also from a technological-adoption- and mainstream-adoption- perspective there is an acceleration of adoption moving forward, such as Mexico as the second official country after El Salvador considers making Bitcoin a legal tender. Besides that eBay as a main established e-commerce platform is looking to adopt Bitcoin and Cryptocurrency as a payment method. These developments are positive indications for a long-term bullish perspective and are likely to contribute as such if there are no regulatory, restrictionary, economic, technological or environmental events that can alter this bullish long-term sentiment again, as Traders it is necessary to consider these determinations to have a rounded approach to the market. Looking at my chart now we can watch there how Bitcoin is forming a central formation here which is a descending-triangle-formation, such a descending-triangle-formation is an efficient indication for concluding a reversal when the right price-action settles. Therefore as Bitcoin already completed the coherent wave-count reaching from A to C within the formation and is now approaching the lower boundary of the formation in which it has appropriate support determined by the lower boundary of Bitcoins main ascending-channel together with the 300-EMA marked in blue, there is a solid potential given that Bitcoin has the ability to form the decisive bounce above the upper-boundary of the formation in this range. Once such a bounce has emerged it will be the technical confirmation and completion of the descending-triangle-formation and it will point to the final setup from where Bitcoin has the right fundament to build upon, besides that this will also validate the target-zones seen in my chart. Once the target-zone of 44.500 USD has been reached Bitcoin has to show how it moves into this zone and if Bitcoin manages to form a continuation-formation in this area because when this happens Bitcoin has the potential for forming a wave-C-extension when it manages to breakout into the bullish-continuation-zone. In this manner, thank you for watching the analysis, all the best! "The day of fortune is like a harvest day, We must be present when the corn is ripe." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
13
BITCOIN / NASDAQ ratio. Time to cut from tech & go heavy on BTC?I present to you a very interesting symbol combo, the Bitcoin/ Nasdaq ratio. In recent years one has outperformed the other and vice versa, which those interchanges being caused by the market fundamentals and macro-economics at the time such as Musk and China ban favoring Nasdaq over Bitcoin last year. In recent days however we see the current war climate in Ukraine favoring Bitcoin over the tech index. In fact, the ratio hit its 1W MA50 (blue trend-line) this week for the first time since late November 2021. Currently we are within a Triangle pattern. The last two times the ratio broke above the 1W MA50 after the Sine-wave bottom, a buy signal was triggered. In fact it was a massive one in both cases. Check also the RSI sequences, all three periods look very similar. Currently the RSI is testing its Lower Highs trend-line. A break, most likely tells us that the bottom is in. So will a break above the 1W MA50 mean we should cut from our Nasdaq portfolios and go heavier into Bitcoin? What do you think? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
11
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 started a new Bull Cycle last time the Dollar did this.On this chart I've plotted Bitcoin against the U.S. Dollar Index (DXY) on the 1W time-frame. It is a simple comparison of time phases. As you see, the DXY (black line) has reached in recent weeks a symmetrical level which during 2019 it started forming a Channel Up. At the same time Bitcoin (orange line) made the bottom of its 2018 Bear Cycle and started the new Bull Cycle. Right now the pattern formed on Bitcoin is very similar to that of the December 2018 - January 2019 Bear Cycle bottom. I have made a case in previous publications that Bitcoin may be in a mini (I called it in fact the 'smoothest' ever) Bear Cycle since the April 2021 High. Now that seems to be very consistent with that fractal comparison on DXY. Do you think the symmetrical pattern that DXY is forming may be an indication that BTC has bottomed? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
49
Bear Market RoadmapThe bear market has been underway for a while now ever since the top in April 12th 2021 I believe we have been in a bear market and in a distribution phase, even though we did make a higher high later on the year I still have come to the conclusion that we are indeed in a bear market. The TA i posted a while back “The satoshi Prophecy” while still not technically invailded because in that TA my thesis is that May 2022 is the top for the cycle based on a Fibannaci time sequence of Chain Link, I still think it will eventually it will be invalided coming May 2022 as not the cycle top but as the bottom of the bear market ,you can check that out below. As soon as we lost the 8/1 Gann on Bitcoin I new things were about to get rocky but I still pushed and thought we were in a bull market because I kept finding things that backed my May 2022 cycle top case for example I posted the blue fibonacci log theory which you can check below . Weeks later we would break the blue fib log after that there was no case for the bulls anymore , historically breaking the blue fibonacci log confirms a bear market. In reality breaking the 8/1 Gann and not holding as support should have been the line but I was so focused on the Chain Link Fibonacci count that I did not see things coming, check out below on how we broke support the week of new year. Normally to trigger a Bull market or continue an uptrend we hold 8/1 as support and break higher like below in 2020. So what comes next, well looking at the golden multiplier trend lines we can see whenever Bitcoin follows below the last orange line we enter a bear market , right now we have been under it for a while now. Once below Bitcoin normally bottoms on an average of about 120days and breaks above the orange line in an average of 270 days which would put us in September to break out and amazingly May 2022 for a bottom , amazing that it lines up with May 2022 So what can we expect is a retest of the orange line at one point that ends up in a failed rally happens every time in history in a bear market 2011 2015 2018 Present Day Showing a possible outcome for this year 2022 So now we come to the most important piece of evidence that we are in a bear market and that would be the June 2018 bear market fractal that has played out 1:1 almost perfectly . Present Day with June 2018 Fractal June 2018 pattern Also cover this in the TA below It is a mirror pattern , mind blowing stuff and during June 2018 we also had a MACD bearish cross on the monthly which has happened now as well! So if the June 2018 bear market fractal plays out we retest 33k and create a double bottom sometime in the next 10days maybe and then have a rally to the orange line we talked about before which more or less lines with the 0.618 you can see that in the main chart above . There is this 3/1 Gann which I have been following for a while that Bitcoin can’t seem to break take a look at the TA below . I believe Bitcoin will most likely fail to break this gann line until we form that double bottom and finally to finish off volume , we had no capitulation volume come in , every time we have a major bottom or top there is a huge spike in volume. So how I think 2022 plays out 1- Revisit 33k form double bottom 2- Rally to 0.618 or orange line(Golden Multiplier) anywhere from 45k-56k to Mid-late March 2022 3-Get nuked down into May maybe capitulation wick down to 25/27k before closing at 30k 4- Come out of Bear market September 2022 5-Cycle Top June 2023
BITMEX:BTCUSD.P
by Sporia
1
BITCOIN closed 1st green month after 3straight red! Buy or sell?So Bitcoin closed yesterday its 1st green month after a series of 3 red monthly closings since the November All Time High (ATH). Is this bullish or bearish on the long-term? One way to answer this is to see how the price moved after a similar monthly pattern. This chart is obviously on the 1M time-frame with the blue trend-line being the 1M MA50 but with the red being the MA50on a different time-frame, the 1W. To have a larger sample, I've included the cases where a green 1M candle appeared after 3 or more straight red. Other than the current, these parameters return 7 other such patterns: * The most recent being the July 2021 1M green candle, which formed after 3 straight red. The price made a new High after that with the 1W MA50 supporting. * The October 2019 1M green candle was also formed after 3 straight red. The price made a new Low after that as the 1W MA50 failed to support. * The February 2019 1M green candle was formed after 6 straight red. This was slightly after the bottom of the 2019 Bear Cycle and the price made a new High, effectively kickstarting the start of the new Bull Cycle with the 1M MA50 (blue trend-line) supporting. * The June 2015 1M green candle was formed after 3 straight red. This was also slightly after the bottom of the 2014/15 Bear Cycle and the price made a new High, effectively kickstarting next Bull Cycle with the 1M MA50 (blue trend-line) supporting. * The November 2014 1M green candle was formed after 4 straight red. The price made a new Low after that as it failed to break above the 1W MA50. * The May 2014 1M green candle was formed after 3 straight red. The price made a new Low after that as the 1W MA50 failed to support. * Finally, the December 2011 1M green candle was formed after 5 straight red. This was slightly after the bottom of the 2011 Bear Cycle and the price made a new High, effectively kickstarting the start of the new Bull Cycle, which came after BTC broke above the 1W MA50. Check this series on the snapshot below, if you don't want to scroll the main chart to the left: So as you can calculate based on the sample above, historically when a green 1M candle has formed after 3 or more straight red, BTCUSD moved on to a new High more times (4) than a new Low (3). The key here seems to be the 1W MA50 (red trend-line), which every time it broke to the upside after such a pattern, it always delivered a new High (3 times) relative to when the red streak started. Basically all of those 3 times it did, Bitcoin had just priced the bottom of a Bear Cycle and was at the start of a Bull Cycle. I've included the 1M RSI indicator on this chart to show that, based on this, with it being on Lower Highs and currently below its (RSI based) MA (yellow trend-line), the price action since the April 2021 High looks more like a Bear Cycle. That is a subject I've touched in more detail in previous analyses of mine, one of which you can find below. So how do you think BTC will trade following this 1st green monthly candle after 3 straight red? Is this buy or sell signal? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
18
Bitcoin/USDT - Russia/UkrainFebruary ended with a very bullish closure which was surprising for many with the current economic climate and uncertainty surrounding humanitarian risk coming out of Eastern Europe. Last week majority of the globe imposed sanctions on Russia including the ban of Swift payments but it doesn't appear this was something which caught Russia off guard as they had already moved towards making Bitcoin legal tender two weeks previously. These sanctions pushed Russia into a position where buying Bitcoin was their best and possibly only way of being able to continue with any possible trade deals. Additional to this millions of $'s were ploughed into Bitcoin and used to provide donations towards those affected in Ukraine. Now we understand what caused Bitcoin to gain great momentum in the latter part of February we can now enter March with a clearer picture of what is most likely to lie ahead, at least in the short term. Bitcoin closed on 28th February finding resistance on the daily and monthly level circa to $43,400, leaving the most likely outcome to be a reversal over the coming days back down towards $36,000 with the strong possibility of breaking through to head towards $30,000, wicking as low as $28.000. The market is being held afloat by the potential of peace talks between Russia and Ukraine but any positive outcome from this is very unlikely after the damage which has already been caused. In other news, Ebay are rumoured to be considering the possibility of integrating cryptocurrency payments into their platform. So whilst we have a short term bearish play in mind, the bigger picture is very bullish and considering how government bodies naturally moved towards Bitcoin as their economy was collapsing it shows that the consideration for Bitcoin to become an underlying store of value for GBDC's in the future is highly possible. Short trade signal - BTC/USDT Entry: $43,800 Stop Loss: $46,200 Take profit levels (50/50 split): $36,700 and $30,680
Short
by ZeroGravityGB
1
BITCOIN Will 20k happen?A lot of talk has been happening lately, whether Bitcoin has found a bottom or if the June 2021 breaks will see even lower prices such as 20k. Well, we can never rule out anything in the investing world, everything is open as a possibility. Based on BTC's historic price action though, we can get a fair understanding of the probabilities involved. ** The Green Zone and the Black Swan that broke it ** As you see, this is BTC on the 1W time-frame from 2012 to 2022. Since mid January 2022, the price entered the long-term Buy Zone (green area) and immediately reacted with a rebound. However, due to the recent events in Ukraine, we've been seeing a pull-back, which is still a Higher Low though. Wars are considered a Black Swan event, similar to the COVID flash crash in March 2020. As shown on the chart, that event was enough to make the price break below its multi-year Buy Zone and only find Support one Fib extension lower (2.0 Fib). As a result we can assume that if the current conflict between Ukraine and Russia escalates more aggressively into a war involving more countries, it could turn into another Black Swan event. The probabilities for that though depend on each person's understanding of reality. ** Previous Peak never re-tested ** Realistically that event doesn't have the highest probability to happen. As a result, it is most likely that the current levels are the new bottom of the long-term price action. At the same time historically, Bitcoin has never hit the Peak of the previous Cycle. Anything can happen of course, but it is a fact that the $32.00 peak "never happened", the $1250 peak "never happened", so most likely we won't see BTC hitting the $20000 peak of the previous Cycle either. In fact, the 1W candle action since the November High, and in particular that since the mid January low, resembles the price action of every single Bear Cycle bottom: November 2018 - January 2019, July - October 2015 and January - May 2012 (Circle inside Blue Pattern). So what do you think? Will 20k happen for Bitcoin? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
38
BITCOIN Inverse Head & Shoulders short-termI rarely publish a short-term analysis on Bitcoin but a very structured pattern is being formed on the 4H time-frame and thought it'd best to share it with you. As you see this is an Inverse Head & Shoulders (IH&S) pattern, which is a structure technically formed on market bottoms, with the trend changing from bearish to bullish. However there are several other dynamic parameters to consider: * The price got rejected yesterday on the 4H MA200 (orange trend-line) and today on the 4H MA50 (blue trend-line). This means we have a successive double MA rejection in a few hours. * Those rejections come straight after the formation of a 4H Death Cross, which is a technical bearish pattern. However such crosses haven't been that accurate lately as the 4H Golden Cross (the opposite of a Death Cross) on February 08, was formed on a short-term Top. We have to acknowledge however that this is the first 4H Death Cross since November 19 2021. * There are three Lower Highs trend-lines involved. The latter 2 have already been broken but Trend-line 1 remains (which happens to be perfectly aligned at the moment with the 4H MA100 (green trend-line)) and is the one that started after the February 15 High. * On the positive side though, the 4H RSI has been on a Higher Highs and Higher Lows Megaphone since for the past 5 days, indicating buying pressure. As you realize, even though the IH&S pattern and the RSI point towards a recovery, BTC has to get past and close above the 4H MA50 and MA200 first and then the final Lower Highs trend-line 1, which at the moment apply selling pressure. The technical target of the IH&S pattern typically is the 2.0 Fibonacci extension, which is currently at 44350. This aligns almost perfectly with the 44800 Resistance of the February 15 High. Which formation do you think will prevail? Let me know in the comments section below! -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
24
BITCOIN, CRUCIAL FORMATION Can Be Catalyst For NEXT IMPULSE!Hello Cryptocurrency Community, Welcome to this pivotal crucial Bitcoin analysis about the 12-hour timeframe perspectives, the recent events, the current formational structure, and what we should expect in the upcoming times. The main potential inverse head-shoulder-formation that I mentioned in my previous analysis has now been invalidated to the downside and activated scenario 2 for Bitcoin, if you did not see this analysis already I highly recommend watching it as this analysis is coherently building upon it. Therefore as Bitcoin now invalidated this bearish scenario due to the volatility that recently increased the paradigm has shifted and in this case, I detected important formational factors that are important to take into account right now. Structural Formation And Incoming Determinations: Looking at my chart we can watch there how Bitcoin since recently increased with bearish volatilities has moved into the crucial 34.400 USD support marked in my chart in blue and has now tested this support, this support was already tested previously and the more often Bitcoin tests this support the weaker it gets. Nevertheless currently on the more local timeframes Bitcoin is also building this broadening-wedge-formation that I will link here, when this formation completes Bitcoin has the ability to breakout and initially move into the remaining resistances where Bitcoin has strong resistances within the 38.600 to 40.000 USD area that is marked in my chart in red, therefore, when Bitcoin reaches out there it will be a highly likely origin of a bearish pullback to the downside. Upcoming Destinies To Consider: Taking all these factors into the consideration now when Bitcoin pulls back off the massive bearish-resistance-cluster as marked in my chart this is just one step forward for completing the huge massive bearish indicated descending-triangle-formation that Bitcoin forms here marked in my chart with the coherent wave-count within which will complete when Bitcoin finalizes the wave-E in the triangle and once this happened with Bitcoin breaking below the lower boundary it will activate the bearish continuations and Bitcoin reaching out lower levels, therefore, the 24.500 USD zone as marked in my chart will be a likely target to be reached once this whole formation has been completed, therefore it is highly necessary that we keep patient and prepare on such increased volatilities upcoming. Local Broadening-Wedge-Formation With The Resistance-Pullback-Scenario Indicated: In this manner, thank you for watching the analysis, all the best! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
20
BITCOIN The OBV indicator says we're still accumulating.This is a simple yet very effective projection provided by the On Balance Volume (OBV) indicator. I've charted Bitcoin on the 1W time-frame on this one in order to include all of its historic price action. This one year sideways (though the margin is wide, it is still sideways for BTC's standard volatility) price action based on the OBV is nothing more than an Accumulation Phase. This is similar to June 2016 - April 2017 on the previous Cycle and with July 2012 - December 2012 on the one before. As you see, the OBV also provides clear patterns for the Cycle's final rally towards the Peak and the Bottom. Right now the closest pattern this past year looks like is the Accumulation. This approach indicates that by the end of this year or beginning of the next, we should see the current Cycle making a peak. Where that can be? Well since each of the past two Cycles peaked on a +.382 Fibonacci progression (2.382 in Dec 2013 and 3.382 in Dec 2017), then the 4.382 Fib should be the next candidate for a peak, which is around $280000. So what do you think about this OBV approach? Is it reliable in suggesting which part of the Cycle we're currently at? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSDLong
by TradingShot
33
BITCOIN is exactly where 3 tech giants have been in the past!Bitcoin has been consolidating for almost 1 year within a wide range that many market participants consider nothing more than a long-term Accumulation Phase. Well there is nothing better to strengthen this notion than this new analysis I present to you, based on how three tech giants (Amazon, Google, Apple) traded during a similar pattern. First of all, in order to make the sample as diverse as possible, I've included fractals during time periods that are very different from each other. Amazon in 2009/2010 just after the subprime mortgage crisis, Google in 2014/2015 during the first major consolidation of the post crisis recover and Apple in 1998/1999 during the last years of the build up of the DotCom Bubble. This is a diverse enough sample to provide as an unbiased evaluation as possible. So as you see, all tech giants made a bottom after the price broke below their respective 1W MA50 (blue trend-line) period and the Ichimoku Cloud. Then they started a rise, which evolved into a very aggressive rally. Even though all 4 fractals are similar, Bitcoin looks a little bit more like the Apple late 90s pattern, while Amazon and Google are more similar as the bottom below the 1W MA50s was a Lower Low. Bitcoin's (so far) and Apple's second corrective waves are Higher Lows and not Lower Lows. On the other hand though, Bitcoin and Google are the only fractals whose second waves broke below the Ichimoku Cloud, with that turning red for a short while, and the 1W MA50 turning sideways. Due to that, Google consolidated for around 4 months more around the 1W MA50 before rallying into a new All Time High. What do you think will be the case for Bitcoin? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
58
BITCOIN, Develops CRUCIAL BEAR-FLAG, Determining Objections Now!Good Day Cryptocurrency Community, Welcome to this pivotal analysis about the Bitcoin situation on the 2-hour timeframe perspectives. Since Bitcoin recently managed to hold the $42,000 area we have seen an initial bounce of $2,600 here with Bitcoin moving into the $44,600 level and confirming as at an important resistance, in fact, Bitcoin still had resistance in this area developed by past price actions. While Bitcoins technological adoption goes forward with the institutional interest growing exponentially since the beginning of 2022 as the SEC filings that mention "Bitcoin" accelerated heavily and other old economy investors such as Warren Buffet investing into Bitcoin-friendly startups there are still increasing regulatory and restrictionary pressures that burden Bitcoin such as governments freezing Bitcoin wallets. In such environment it is necessary to distinguish between the short and long term perspectives. As I already mentioned in posts and on my YouTube channel Bitcoin has still solid fundaments for a bullish destiny on the more long term perspectives however from a short term and trading perspectives it is necessary to zoom in and see where Bitcoin is heading to have a proper trading lineup in the market, in this case I detected the central factors and upcoming determinations that are pivotal now. As when looking at my chart we can watch there how Bitcoin since bouncing off the $42,000 area Bitcoin moved on into this highly crucial descending resistance line which is marked in red in my chart, besides that Bitcoin has formed this main ascending channel and in this channel tested the $46,600 area from where it now several times pulled back and confirmed this area as a respected resistance. In this case now there is a increased likelihood that Bitcoin completes the ascending channel as a bear flag below the lower boundary as it is seen in my chart from there on a continuation to the $42,055 level is indicated, it is also possible that Bitcoin firstly bounces and makes a new structure high above the $44,750 level before moving into this initial bear flag target zone. Once the initial target zone has been reached it will be highly determining on if Bitcoin holds this level substantially or just sets up for a bearish continuation, in this case, when Bitcoin moves below the $42,200 area this will lead to the wave C extension and Bitcoin reaching out the final bear flag target zone. In any case it is necessary that we keep prepared on upcoming volatilities and shifting dynamics to do not overspeculate the market in this critical phase, it will be an important dynamic ahead. In this manner, thank you for watching the analysis, all the best! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
12
BITCOIN The correction is coming to an end. Fractal with 2019/20A month ago I first suggested the idea that the current correction may be another Bear Cycle and that as Bitcoin gets more institutionalized and achieves further adoption, these 'smoother' Bear Cycles may be the norm from now on: This time I take it a step further and compare the 2021/22 correction with that of 2019/20. Now, I need to state the obvious before we begin, that 2020 had the Black Swan of the COVID outbreak, an (anomaly) event that only happens once in 100 years and can't be comparable to anything we have in our samples. However even if we filter this out, we find interesting similarities between the two periods. Using the Gaussian Channel, we get a better sense of the cyclical behavior of phases and the net volume indicator on the stages. Both fractals initially made a slight break below the 1W MA50 (red trend-line), recovered but later broke again below it significantly. Only when the price recovered both the 1W MA50 and the 1D MA200 (orange trend-line), was the recovery confirmed and the new parabolic rally of 2020 could begin. At the moment it seems BTC is in that stage of attempting to break above this MA zone. Notice also the importance of Net Volume in all of this. Even before they reached their respective peaks, the volume started to descend. In 2020, the big volume spike started around the time Bitcoin broke about that MA zone I mentioned (1W MA50 - 1D MA200). It seems like such a big volume spike is needed in order to say with some degree of certainty that Bitcoin has resumed the bullish trend towards new All Time High. So what do you think about this analysis? Are such corrections the new norm of a Bear Cycle and if so can 2020 be a guide for 2022? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
26