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BITCOIN Short-term analysis on the Falling WedgeBitcoin (BTCUSD) has been trading within Falling Wedge pattern on the short-term ever since April 11. The pattern is close to exhaustion point as the upper (Lower Highs) and lower (Lower Lows) trend-lines are getting too narrow. The direction to which the price breaks, should determine the trend of the next 2 weeks. The MA periods on the 4H time-frame play a critical part to this as the 4H MA200 (orange trend-line) rejected the price on April 21, while the 4H MA100 (green trend-line) has done so on Apr 26 and 28. Right now the price broke above the 4H MA50 (blue trend-line) and is approaching the 4H MA100, which is the first Resistance and happens to be almost exactly on the Falling Wedge's Lower Highs (top) trend-line. A candle close above it, should be enough to extend the rise to the 4H MA200 even intra day but it is the potential break above the 4H MA200 that should really have our attention. In that case we may most likely see a strong rebound to the 1D MA200 (red trend-line) which caused the rejection on March 28 and practically started this correction, that could happen converge on the 0.786 Fibonacci retracement level. It is worth noting that while the price action was on Lower Lows (of the Falling Wedge naturally), the 4H RSI has been rising on Higher Lows, posting therefore a Bullish Divergence. That gives more probabilities to a break-out to the upside. If the Wedge breaks to the downside though, the next level of Support to look for should be the -0.236 Fibonacci extension at around 34900. So what do you think? Do you expect the Falling Wedge to break upwards or downwards? 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
37
Bitcoin And U.S. Interest Rates: A Historical Examination!Hello, Welcome to this analysis about Bitcoin and the comparison to the U.S. interest rates history. When looking at the current market situation it has to be marked that the global economy is shifting heavily and changes occur in a dramatic manner. These dynamics began since the Corona Pandemic shocked global financial markets, global supply chains, and global government policies in a manner bearly comparable to what has happened before. Since these devastating occurrences, Bitcoin and other assets managed to recover, for Bitcoin an accelerated technical and fundamental adoption has taken place with countries adopting Bitcoin as a legal tender and Bitcoin getting acceptance on a broader scale. All these factors drove the price of Bitcoin upwards till it now reached a high-base while in the stock market the floods of cheap money drove the prices simultaneously the real economy is still damaged by the disruptions and is long not at the point it has been before these historical alterations. Now the Federal Reserve Decided upon increasing the interest rates to tackle ongoing inflation, for the stock market the reaction, in this case, is historically given by a decline however for Bitcoin the story needs to be assessed differently, therefore I am explicating these dynamics. The FED Interest Rate Hikes Together With Bitcoins History: Since Bitcoin was founded in 2009 by the infamous Satoshi Nakamoto it has shown up with a massive expansion and disruption within financial markets creating a boom around Bitcoin and Cryptocurrency which formed the first initial wave. After that till November 2015 Bitcoin moved into a correctional phase till the FED decided upon moving forward with increasing the interest rates from zero upwards. This decision also simultaneously marked the Bitcoin bottom in 2015 as it is seen in my chart and from this point on Bitcoin showed up with its massive bull market. The Bitcoin bull market moved simultaneously with the interest rate increases as it is seen in my chart and from the beginning on Bitcoin printed a whooping 65X till it peaked in 2017. According to these factors now there is an indication given that Bitcoin does not react negatively to interest rates like it is the case in the stock market, in fact, the complete difference holds true. The interest rate hikes were positive for Bitcoin as Bitcoin served as a hedge against fiat depreciation and declines in the stock market. Gold In Interest Rate Hikes, Bitcoin In Interest Rate Hikes: When comparing Bitcoin to other assets it becomes clear that Bitcoin is a similar asset to precious metals, mainly Gold, not without reason Bitcoin is called the digital Gold and in fact, there are many similarities. As gold has a 5000+ years-long history it gives a good indication on what is likely to happen during rate hikes. As it is shown within the chart below this text Gold also reacted similarly during rate hikes like it is the case with Bitcoin. From 1954 to 1981 a massive bull-market showed up in Gold with a huge expansion and the exciting thing is that the interest rate increases moved exactly simultaneously with the Gold price action showing a clear correlation. After that when the rates decreased again Gold also decreased again. The same dynamic can be watched with the rate increases in 2004 and 2015, always when the rates increased Gold also increased. Therefore, when considering this second crucial indication it gives a sight on what is likely to happen with Bitcoin during this next rate hike period, according to the factors Bitcoin is also likely to increase with these determinations. 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.
BITSTAMP:BTCUSD
by VincePrince
14
BITCOIN This Falling Wedge decides the trend.Bitcoin (BTCUSD) has been trading within a Falling Wedge pattern since the March 28 High, always within the wider outlook of the 1 year Channel Up. The 1W MA100 (red trend-line) is right below as the long-term Support, and hasn't been that close since the COVID crash months. A similar Falling Wedge was formed when the price was bottoming on the previous Higher Low of the Channel Up. The OBV indicator between the two patterns are fairly similar. The Falling Wedge will most likely determine the trend of the next months, perhaps even for the rest of the year. A break upwards will most likely be a bullish signal for a price jump towards 55-60k similar to that of August 2021. On a different occasion, with break downwards, we need to wait for a weekly (1W) candle closing. Below the 1W MA100, opens the way for the low 30s even the higher 20s levels. Which scenario do you think will prevail? Will the Falling Wedge break upwards or downwards? 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
27
BITCOIN accumulation to June, then rally. 5 year cheat-sheet.Today I am presenting to you a hidden phase cheat-sheet on Bitcoin (BTCUSD) that I've been working on this week. The time-frame is the 1W (weekly). As you see, since the 2017 rally, Bitcoin has gone through three Phases of Rally - Accumulation - Bear. The astonishing fact is that time-wise all have been symmetrical to each other: * The Bear Phase lasts 44 weeks (308 days) while the Accumulation Phase lasts 15 weeks (105 days). Every time the Accumulation ends, the Rally Phase starts. * Approximately, we can estimate the peaks of the Rallies and end of the Bear Phases using the Fibonacci Time Extensions. Starting measuring from the Peak of the first Rally (0.0 Fib) and the end of the first Bear (1.0 Fib), we can see on the 1.5 Fib extension, the Rally roughly peaked (was just 2 weeks after the extension). The end of the Bear Phase was +1.0 Fib after, i.e. the 2.5 Fib extension. The peak of the next Rally was roughly on the 3.25 Fib ext and +1.0 Fib after was the end of the third Bear Phase. Based on this model, we have been within the third Accumulation Phase since the February 21 1W candle. Assuming that symmetry continues to hold, this phase should last again 15 weeks, which times its end on the June 06 1W candle. Then the fourth Rally Phase should start and it would be a good idea to sell around the 5.0 Fibonacci Time Extension, even though the model's progression suggests it can go as long as the 5.25 extension. Note that the RSI indicator on the 2W time-frame (below the chart price action), can offer an additional estimate with regards to when to have a confirmed buy. That will be when the RSI breaks above the MA line (yellow) again (for the 2nd time in the Cycle). Keep in mind that in Phase 2 that took place while the price was still within the Bear Phase, as the March 2020 COVID sell-off distorted the data short-term. That was a Black Swan event that is very unlikely to take place again at least that soon. Still, it gave a very accurate buy signal. So what do you think about this 5 year old model? Does it offer enough evidence to you that the market is accumulating, and is on the best buy levels before an upcoming Rally? 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
63
BITCOIN correlation with stock market volatility and Halvings.As Bitcoin (BTCUSD) adoption goes on and more institutional investors enter the market, the correlation of BTC and stocks becomes more and more tight. That is a paradigm that the cryptoworld struggled to come to terms with in the past but is now more real than ever. A healthy stock market is good for Bitcoin. The current analysis depicts exactly that notion in terms of Growth and Volatility while incorporating a key parameter of BTC, the Halvings. ** What is a Halving? ** First of all, in case you are a newcomer in the cryptospace, what is a Halving? It is the most pivotal events on Bitcoin's blockchain and is when the payout for mining a new block is halved. This induces inflation in the price, reducing the number of BTC in circulation, thus increasing demand. It happens after every 210,000 blocks (approximately four years). Because of increased demand, Halvings historically tend to create aggressive price rallies after the event. ** Stock market Growth and Volatility phases ** This chart is on the 1W time-frame and as mentioned displays Bitcoin (orange trend-line) against the stock market in the form of the S&P500 index (blue trend-line). The stock market since 2011 has gone through clear phases of Growth (green zone) and Volatility (blue zone). Out of the past three Bitcoin Cycles, two of them make almost exact matches: BTC's Bear Cycles with Stocks' Volatility Phases and BTC Bull Cycles/ Rally Phases with Stocks' Growth Phases. Slight exception was 2013/14, where BTC peaked in November 2013 but the stock market Growth Phase continued for another year. By the time the stock market volatility started, BTC had already made the bottom of its Bear Cycle. We may have a similar situation with the current BTC Cycle as well. Assuming that BTC's peak was in April 2021 and not November 2021 (slightly higher high), then as in 2013/14, the stock market Growth extended almost 1 year after BTC's peak. If that's the case and the correlation continues to hold, then BTC's bottom was priced early this year as the stock market volatility has started since the start of 2022. Another interesting element is that the middle of the Stock market volatility phase has always been very close to BTC's Bear Cycle bottom level. Technically, that appears the most optimal level overall historically to buy with confidence for the long-term. If the current Stock volatility phase lasts 84 weeks as in 2015, then its middle should be around October 2022. If however the volatility phase lasts as long as 2018/2019 (107 weeks), then its middle should be around January 2023. Note that a Volatility phase that long would match almost perfectly with the next Halving of March 2024, which as mentioned at the start of the analysis, kick-starts BTC's Parabolic Rally. Do you think this is a good correlation to time a solid buy entry on 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
31
BITCOIN A correlation with US10Y and EURUSD hints to a rallyThis is a simple yet very insightful correlation of Bitcoin (BTCUSD orange trend-line) with the US10Y (blue trend-line) and the EURUSD (green trend-line) pair. The analysis compares the 2014 - 2018 era with 2018 - 2022. As you see, when the EURUSD pair peaks, BTC tends to form (or be close to form) a top on its Bull Cycle, hence starting its Bear Cycle. Similarly, when the EURUSD pair bottoms and starts rallying, BTC tends to start the aggressive rally of its Bull Cycle (note that normally it is well past its bottom formation). At the same time, when the US10Y peaks, BTC makes (or is around) the bottom of its Bear Cycle and starts its Bull Cycle. Similarly, when the US10Y bottoms and starts rallying, BTC tends to start the aggressive part of its Bull Cycle (as in the case of the EURUSD). Currently, on this 1W chart, the US10Y is on a small pull-back. Based on the above, if this pull-back is sustained, we may see Bitcoin form the bottom of the Bear Cycle of the past 12 months and gradually start rising again. The final confirmation of an upcoming parabolic rally can be when the EURUSD bottoms out, but as mentioned EURUSD bottoms a bit later than BTC. How accurate do you think those correlations are? Do you also agree that if the US10Y reverses, BTC will start a new Bull Cycle? 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
15
BITCOIN A medium-term update on the Channel Up.This is a Bitcoin (BTCUSD) update on my April 06 analysis on the Channel Up structure: With the price getting rejected last Thursday on the 1D MA50 (blue trend-line) but holding and closing all 1D candles above the First Support of Higher Lows (green trend-line), Bitcoin has entered a strong consolidation phase on the short-term. The longer it goes, the more that looks as a bottom formation, even though the hard Higher Lows trend-line of the Channel Up is a bit lower. As the 1D RSI has formed Higher Lows, a 1D candle close above the 1D MA50 would translate into an immediate rise towards the 1D MA200 (orange trend-line) where the price got rejected on the last Channel Higher High on March 28. A closing above that level further opens the way for a technical new Higher High formation, which has an upside limit on the 1.236 Fibonacci extension, currently around 50650. This price action should continue to trade the Channel Up pattern until either the 52150 Resistance (December 27 High) or the 1W MA100 (red trend-line) break (long-term bullish and bearish break-out respectively). Which break-out do you think will come first? 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
25
BITCOIN 743% profit doneHow can you become a successful trader ? To be a successful trader , - you must enter from a valid entry point - you must set a correct stop loss - have to set a target to get out if you stick to these rules you will be super rich soon you must be patient and stay away from greed and you must have experience this market is not based on feelings this is a war and you have two choices win and make your life wonderful or lose and surrender So stay smart and patient and stick to the 3 rules above and Stop wasting your precious time ------------------------------------------ futures signals 5 scalping signals was enough to earn 743% profit ( leverage was between x5 - x12 )
by WHALE_SIGNALS_ALERT
16
Crypto Winter has begunIf this is indeed a major bear market, I think we can speculate about the returns for a potential fifth cycle. Cycle 2 was ~600x ($2 bottom / $1,200 top) Cycle 3 was ~100x ($200 bottom, $20,000 top) Cycle 4 would be ~20x ($3,000 bottom, $60,000 top) The returns seem to be diminished by a factor of 5-6, as the cycles move on. So if it turns out that that: a) We capitulate to the $20,000 region this year b) This becomes the new market cycle bottom Cycle 5 diminishing by the same factor would implicate ~4x returns, and the next major top could be around $80,000. Basically, volatility reducing and Bitcoin becoming just another traditional asset.
BITSTAMP:BTCUSDShort
by ViriyahLangkaviket
1
BITCOIN, Major BROADENING-WEDGE To APPOINT BREAKOUT!Hello, Welcome to this analysis about Bitcoin and the 4-hour timeframe perspective. In the recent times, important and crucial changes have occurred within the whole market and we can watch here institutional interest is increasing for Bitcoin, furthermore, there are countries such as Mexico looking to adopt Bitcoin as a legal tender, and institutions such as Micheal Saylor with MacroStrategy buying further Bitcoins. These factors indicate a continued increasing positive sentiment moving on for Bitcoin while adoption is still moving on. Nevertheless, it is also necessary to watch for the technical factors and see where Bitcoin is likely to heat within the upcoming times from a short-, middle-, as well as long-term-perspectives. In this case when watching on my chart we can see there that Bitcoin is building this main broadening-wedge-formation with the coherent wave-count within the formation almost already completed with the waves A to C and now as Bitcoin bounced within the lower boundary this is actually building the setup from where Bitcoin has the ability to build upon and continued to setup finally developing a breakout. Once the breakout happened above the upper boundary as marked in my chart this will be the setup from where Bitcoin has potentials to continue with and this will activate the target-zones within the $47,000 level marked in blue in my chart. Once this target-zone has been reached the situation needs to be elevated again and Bitcoin needs to show how it continues from there on and if a possible further formation can lead to a continuation, it will be an interesting development. In this manner, thank you for watching the analysis, all the best! "Good fortune is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
24
BITCOIN The USD is approaching a level of historic BTC rallies!Bitcoin (BTCUSD) turned again lower on the short-term following yesterday's pull-back on the stock markets due to Powell's remarks on a May 50 basis points hike. The long-term outlook however remains intact and is further enhanced by the U.S. Dollar Index (DXY), which is approaching a critical Resistance trend-line. As this 1W chart shows, every time the DXY (bottom chart) hits its 5 year Lower Highs trend-line, it gets rejected towards the 90.000 level or lower. At the same time, as the USD is devalued against major currencies, Bitcoin starts an aggressive (parabolic) rally. The last two times it was the 2017 rally and the post COVID crash 2020 rally. As you see, I've drawn BTC's own Higher Lows Zone that acts as a Support since 2017. In fact if we ignore the Black Swan event of the March 2020 COVID crash, we see that the Diverging Higher Lows trend-line offers an absolute Support since 2017 with multiple contact points that sustained the long-term logarithmic uptrend, and is now very close to the current price action. So what's your opinion about this potential rejection of DXY? Will it be enough to start a new parabolic rally on 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
50
BITCOIN Can it rise that fast that quickly?As Bitcoin (BTCUSD) is testing the 1D MA50 (blue trend-line) as a Resistance, following a Higher Low two days ago on the 2022 Channel Up, it is time to look into the bigger picture again and see where we are at on the long-term Channel Up that started after the April 14 2021 High, which is a pattern that I first introduced on this channel on January 25 2022: ** Is this a near perfect symmetry ** First of all let's start by pointing out that so far, the time period between the Channel's two Higher Highs and two Higher Lows has been almost the same (210 days against 216 respectively). Assuming the next Higher High has the same distance from the previous, that times it on June 08 2022. Even if we use the distance from the Higher Low to Higher High measurement (which however so far gives only one event), which is 140 days, that places the next Higher High on June 13. Can Bitcoin rise that high that quickly? ** Where are we in relation to the last bottom? Ichimoku, RSI and MACD approaches ** One way to answer this is to determine where we are based on the last bottom/ Higher Low of the Channel Up. The March 28 High got rejected on the 1D MA200 (orange trend-line). A similar but only near rejection was made on June 15 2021, so that is too soon on the previous fractal. On the other hand, the fact that since April 11, the price entered and stayed within the green Ichimoku Cloud, brings us to the similar September 20 - October 01 2021 stage. That is matched fairly well by the RSI of the two periods. Perhaps the most important is the MACD indicator, which is displayed on the 1W time-frame, in order to put emphasis on the Bullish Cross. That happened on March 30 2022 and August 19 2021, roughly when the Ichimoku Cloud turned green. That was just before the March 28 2022 High (1D MA200 rejection) and the September 06 2021 High. Now the MACD is about to cross again into a Bearish Cross, which needs to be avoid in order to keep the fractal intact. Same as it was avoided on September 26 2021, while the price was trading inside the green Ichimoku Cloud. ** What if we are still forming the bottom? ** If the above indicators are the case, then this suggests that this time the uptrend to a Higher High is much less aggressive than in 2021. That is to a big extend justified by the fact that the Ukraine - Russia war kept BTC and the whole market low in February - March, as the (highly correlated) stock market had a strong correction. As a result BTC may not be at its full potential right now and fairly underpriced in relation to the 2021 leg. However, since the 1D MA200 hasn't been broken (yet), we may assume that it is possible to still be forming the bottom and the recent pull-back be similar to that of August 01 - 05 2021, which was half-way through the first phase of the rally that got Bitcoin out of the bottom's consolidation. In that case, there is still enough potential to make a new Higher High (and All Time High as a matter of fact) but could take longer, roughly end of July. Bonus fact: See how important the Fibonacci retracement levels of the Channel Up are. The recent 1D MA200 rejection took place on the 0.382 Fib, the Sept 21 2021 low stopped on the 0.236 Fib, the Sept 06 2021 High on the 0.618 Fib and many other examples. Based on the above facts, do you think it is realistic to expect Bitcoin to rise this fast that quickly? Or are we just getting out of the new bottom formation of the Channel Up? 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:BTCUSDLong
by TradingShot
28
BITCOIN spot market bottoms and reversals using DOW's Stoch RSII've made countless analyses in the past pointing out the high correlation between Bitcoin (BTCUSD) and the stock markets. In that context, I was running a few regressions of BTC against Dow Jones (DJI) in particular and found an indicator that has spotted all of Bitcoin's historic market bottoms with 100% accuracy. That is the rather undervalued Stochastic RSI. As this chart on the 1W time-frame shows, the 1W Stoch RSI of Dow Jones is currently on a slight pull-back having made an absolute bottom on the 0.00 reading in late February. Notice how all Stoch RSI swings at or near 0.00 have been market bottoms for Bitcoin: September 11, August 2015, January 2016, December 2018 and March 2020. When the RSI broke above the 20.00 level again it started a consolidation phase, which never looked back and eventually led to a parabolic rally. As you may see, all initial breaks above the 20.00 Stoch RSI level, posted a pull-back soon after (red and green arrows). Once the pull-back was completed on the green arrow, the Parabolic Rally on Bitcoin started. This is strong evidence that the market has made its bottom on the current Cycle. What we need to pay attention to now is when Dow's Stoch RSI will reverse again. That will be the time that Bitcoin breaks upwards and won't look back. From a long-term investors perspective, Bitcoin's current price level is a good of a buy as it can get. Wouldn't you agree based on this correlation? Feel free to share your work and let me know in the comments section below! * NOTE: I don't know why Dow's price chart also shows up. Drag the Stoch RSI pane in order to maximize it over Dow's price and better see the correlation with Bitcoin. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSDLong
by TradingShot
31
DECRED, MASSIVE Volatility, SILVER LINING To 100% POTENTIAL!Hello, Welcome to this analysis about Decred on the 2-day timeframe perspectives. In recent times the Cryptocurrency Market moved to the south and many Cryptocurrencies developed critical bearish movements. In such phases where the future of the marker looks increasingly uncertain, it is necessary to spot the Cryptocurrencies within the market that are showing up with potential. Therefore in this case there are the anticyclical movers that are developing important formations which can convert into worthwhile setups to move forward with. In this case, I detected that Decred has recently completed the main Descending-Triangle-Formation with a Massive Breakout above the upper boundary and increasing volatility above the boundary as it is seen in my chart. Now that Decred has shown up with such an extraordinary decisive move this completed the whole formation and Decred is setting up to continue in the breakout direction. Also, Decred has this main Ascending-Trend-Line which is a crucial support and also has broken out above the 50- Moving Average which is great support now. With all these factors Decred has a great setup to continue further with and reach out to the target zones as marked in my chart. When Decred also manages to continue with a new formation in this target zone there is the possibility given that Decred continues in the Bullish-Continuation-Zone marked in green, it will be an interesting development. 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
10
BTC New Entries + Exits (Best Reverse Strat Ever)The 1on1 video is currently out, if you would like it in order to understand how to play my analysis FULLY, please let me know privately. All likes/comments and feedback are very much appreciated! How to play my chart: Buy at support, sell at resistance. When you open this chart you'll see a green entry and a red entry. When the candlestick hits the green entry, you place a buy. If however that support buy doesn't go into profit and goes negative -35 or -60 pips (depending if it was a fast break/or if the break landed on a minute 15 zone), if it breaks you would then exit your buy and immediately enter the sell. You would then ride that sell down to green TP1, or you could then repeat and play the buy/break there. The same exact thing goes for resistance sell/break plays!
BITSTAMP:BTCUSD
by ExclusivelyFX
1
BITCOIN A short-term set-upThis is Bitcoin (BTCUSD) on the 4H time-frame. A good short-term set-up is emerging as both the candle action and the 4H RSI are forming a sequence similar to the March 07 - March 12 pattern, which was a Higher Low on the 'First Support Higher Lows trend-line' that I introduced last Tuesday. As you see, the price is at the stage where it is below the 4H MA50 (blue trend-line) and the Red Ichimoku and is about to come outside of the consolidation pattern. When that happened in March, it took the price around 9 days to break above the previous Resistance, which on the current fractal is at 41590. When that broke, Bitcoin rallied and made a top on the 2.0 Fibonacci extension (roughly above 48000), which was the March 28 Higher High of the 1D Channel Up. The 2.0 Fib extension on the current pattern is at 43960. A break below the Support of 39200 could be enough to invalidate this trading set-up. Do you think it will play out or get invalidated? 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:BTCUSDLong
by TradingShot
18
BITCOIN, MASSIVE Channel, Possible FLAG-FORMATION!Hello, Welcome to this analysis about Bitcoin and the daily timeframe perspectives. In the recent times, important developments happened within the whole Bitcoin and Cryptocurrency Market Interface such as the Bitcoin Lightning Network is being implemented in several important entities, institutional interest in Bitcoin is growing and Elon Musk is looking to buy out all of Twitter which can have a crucial effect on the Bitcoin and Cryptocurrency Market as well. Taking these considerations into the conclusion it needs to be marked that these show a more Bullish Sentiment on a Middle-To-Long-Term-Basis however when considering the more Short-Term as well as the local perspective of Bitcoin it is necessary to also watch out for the technical factors and in this case I detected an important formational structure that can lead to a major decisive outcome for Bitcoin. Therefore I detected the important levels, formational structures, and upcoming determinations. When looking at my chart we can watch there how Bitcoin has moved on to form this major Ascending-Channel-Formation in which it several times bounced and continued with developing this Wave-Count within the formation with the waves A to D already completed. Now as Bitcoin approaches the lower boundary again this is likely to set up the wave E for this whole wave-count and when it moves into the upper boundary it will complete the whole Wave-Count and from there on show up with a pullback from where Bitcoin has a higher possibility to increase volatility again. In this case, it will be highly important how Bitcoin continues and especially when settling below the lower boundary of the whole formation this will complete the whole channel as a Bear-Flag-Formation and Bitcoin is likely to firstly increase Bearish Volatilites till the lower target zones have been reached which remain within the Descending-Trend-Line as marked in my chart. If Bitcoin manages to bounce in this area this can lead to a potential reversal however when this does not happen it will lead to a continuation if Bitcoin shows up with another such formation. In any case, it is necessary to not underestimate the bearish sights that can show up here and be prepared on potentially increased volatility, it will be a crucial development 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.
by VincePrince
29
BITCOIN is just getting out of this Cycle's bottom. Huge upside!In late February I posted the following analysis regarding Bitcoin's (BTCUSD) clear Bottom patterns on every Cycle, making valid arguments why January - February was a cyclical bottom formation for Bitcoin: The price has posted a new bullish leg since then, and it appears that we are on the right track to start a steady but strong rise again long-term. Notice how the price remains within the long-term Buy Zone, thus staying (in cyclical terms) still a solid long-term buy. On the current analysis, I am extending this chart a bit by adding a very interesting feature on a Cycle's horizon: The measurement from one bottom pattern to the next. As you see, on this 1W time-frame, the distance of the lowest level of the 1st Bottom pattern to the lowest level of the 2nd Bottom pattern was 183 weeks (1281 days). Similarly the measurement from the lowest level of the 2nd Bottom pattern to the the lowest level of the 3rd Bottom pattern was 171 weeks (1197 days). Finally (assuming January 2022 is indeed a bottom pattern), the distance from the lowest level of the 3rd Bottom pattern to the the lowest level of the 4th (current) Bottom pattern has been 165 weeks (1155 days). It is obvious that each sequence gets shorter in time by a factor of roughly 80 - 50 days. As a result in arithmetic progression terms we can claim that +/- some days, Bitcoin is coming out of this Cycle's bottom. The previous analysis of November shows that the price never hits the peak of the previous Cycle, so naturally 20k is out of the question. The big question is will it trend more or less aggressively this time? As mentioned above, as long as the price remains within the green zone, it remains a long-term buy. It is when it breaks above (usually on news/ strong fundamentals of adoption etc) that the real Parabolic Rally begins. I assume noone wants to be left behind. So what do you think about this Bottom fractal chart? Is BTC a good enough buy for you as it is on the current levels? 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
106
ETHEREUM, This FORMATION Can Indicate A CRUCIAL CONTINUATION!Hello, Welcome to this analysis about Ethereum and the daily timeframe perspectives. Since the Cryptocurrency Market recently has shown up with determining increased bearish volatilities the whole market interface has altered and now it will be decisive on how the market moves on further as a whole and especially in which direction it will move on. Therefore Ethereum is an important symbol as it is the second-largest Cryptocurrency within the market and in this case, I detected the pivotal determinations we need to consider here. As when looking at my chart now we can watch there how Ethereum together with these recent bearish declines and the previous price-action has begun to form this major ascending-channel formation in which it has a coherent wave-count with the waves A to C already completed. Now as Ethereum moves on further with the wave D in the structure there is a high likelihood given that Ethereum approaches the main remaining support-cluster within the lower boundary marked in blue in the next times. From there on Ethereum will basically complete the whole wave-count with the wave E moving into the upper boundary again, if Ethereum then pulls back heavily from there on this will lead to continuations and the whole formation will be completed with a breakout below the lower boundary from where Ethereum will activate the lower target-zones showed in my chart, once these zones have been reached the situation needs to be elevated again and Ethereum needs to show in which direction it heads, it will be an important development. In this manner, thank you for watching the analysis, all the best! "Good fortune is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
7