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BITCOIN, Breakout 200-EMA, MASSIVE Double-Bottom VALIDATED!Hello, Welcome to this analysis about Bitcoin and the daily timeframe perspectives. In recent times important changes occurred in the whole Cryptocurrency Market Interface and this has been reflected in the Bitcoin Real Price-Action with Bitcoin again establishing a major underlying paradigm-shift to break through key levels within the last establishments. From a Fundamental News Perspective, we have seen important institutional developments such as Exchanges like Binance or Coinbase moving forward with their expansion in the Cryptocurrency field as well as classical economy sectors, we have also seen the CME group launching its Micro-Sized Bitcoin- and Ethereum Options as well as other Countries speculating about the adoption of Bitcoin and Crypto as a legal tender. All these developments showing a fundamental demand still present and in this case I detected the major underlying formational structure to consider now, Bitcoin also showed up with the more likely bullish breakout off the main triangle-formation that I mentioned, if you did not see it already I highly recommend to watch it to have a full-depth-overview. As when looking at my chart now we can watch there how Bitcoin greatly formed the breakout above the 200-EMA resistance, the 200-EMA in this whole development is a highly crucial EMA because it served as support- and resistance several times in Bitcoins developed price-actions. Now Bitcoin managed to heavily breakout above this EMA also matching with the main $44,300 resistance determined by the neckline of Bitcoins massive double bottom formation. The fact that Bitcoin now exploded above this critical intersection-point has confirmed the completion of the whole double bottom formation as seen in my chart and activated the target zone. In the near future a validation formation above the neckline is likely from where Bitcoin will have the abilities to build upon and continue to the target-zones in the $52,500 level seen in my chart. Once Bitcoin will have reached out to these zones it will be determining on how Bitcoin continues from there and if Bitcoin manages to move forward with a continuation formation or firstly pulls back, if Bitcoin then finally manages to breakout above the $52,500 level this will lead to the continuation within the Bullish-Paradigm-Continuation-Zone, it will be an interesting development ahead. 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
19
BITCOIN puts the conditions of previous market bottoms to testBitcoin is yet again approaching the Resistance under which it's been trading since January 05. Practically the whole year so far has been a consolidation within a Triangle pattern, which technically resembles accumulation phases of the past. More specifically, those accumulation phases are seen in market bottom structures and in this analysis I quickly present the two most recent: the March/ April 2020 (following the COVID meltdown) and the December 2018 - March 2019 (following the bottom of the 2018 Bear Cycle). As you see, the similarities between the three are so far remarkable. All three Triangles show an ascending 1D RSI reading. The 2020 and 2019 ones both formed a 1D Golden Cross, after the price broke above the Triangle's Resistance and the 1D MA200 (orange trend-line). Before doing the Resistance break-out, the 1D MA50 (blue trend-line) had turned into a Support. Right now, the 2022 sequence, is very close to its Triangle's Resistance and the 1D MA50 has turned into a Support for the past 10 days. The 1D MA50 and MA200 are again converging and this may be an early sign that the Golden Cross will be formed within 3 - 4 weeks, which as per the previous bottom fractals, will be well above the Triangle. As a result, breaking the Resistance is the ultimate market bottom buy signal. Do you think that if it breaks, while the 1D MA50 is supporting, we'll have already priced the new market bottom? Feel free to share your work and 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
13
BITCOIN Can it ever reach the magic Fib 3.0 extension of 1m USD?Since its inception and after it started trading, Bitcoin (BTCUSD) has been making (much) higher tops on each of its market cycles. Everyone reading this knows that is growth rate is tremendous and has been supported by its Parabolic Growth Curve (the black trend-line on this chart) over the years. The last two Cycle Tops have come close (but didn't hit) to the Fibonacci 2.5 extension. The previous Highs made contact with the lower Fibs of 2.0 and 1.5. Naturally, the question that comes to mind is will it ever reach the next Fib extension in line, the 3.0, and if yes, when could that be? Well based on its historic pattern performance, it is a question of when and not if. The when is hard to answer, as Bitcoin may very well continue trading the next Cycles within the Fib 2.0 - 2.5 extensions, as it has been doing for more than a year (from Dec 2020 until now) and even fulfil the parameter of touching the Growth Curve at the bottom of the next Cycle, without breaking out of range. The longer it goes, the more the market will mature and as Bitcoin receives mass adoption, the extraordinary gains of the past will become less and less realistic. It can be argued even that if the Support Growth Curve dictates the lows, there should be a Resistance Growth Curve that sustains the Highs of the Cycles. That is the mathematical logic behind logarithms that Parabolas turn asymptotic and that suggests that at some point this Growth Channel (of Support and Resistance) may turn asymptotic and stabilize the prices, neutralizing the massive volatility of BTC as we've known so far, as massive adoption of the technology is achieved. Apart from this theory, and to answer the question of this idea, I believe that it certainly can reach the 3.0 Fibonacci extension level, and most likely when it does, it will reach the $1m mark, making Bitcoin a million dollar asset! Technically that is any time after October 2023. Perhaps that would be one of the next times that the 1W RSI hits its historic Resistance Zone (as this matches the hits or near hits of BTC on the Fib extensions). So what's your view on this? Can Bitcoin reach the 3.0 Fib extension and turn into a 1 million USD asset? 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
BITCOIN Perhaps the most critical week of allWe are seeing Bitcoin recovering since last week and so far into the current, we sit on the 2nd straight green 1W candle. This is perhaps the most important week that may show if BTC will restart the long-term bullish trend, or will dip and make a new bottom much lower that the 2022 low. The key here is the 1W MA50 (blue trend-line), which will most likely be tested by the end of this week. The price has failed to close a 1W candle above it, for 12 straight weeks. It is obvious that a break above the 1W MA50 will be a major buy signal. What may be even more important that this, is the 1W RSI, which is forming a pattern that was previously seen in the bottom sequences of December 2018 - January 2019, November 2019 - December 2019 and May 2021 - July 2021. A common feature on all of those sequences is that the break-out came with the LMACD making a Bullish Cross, while at the same time the price broke above the consolidation's Resistance. Right now Bitcoin is very close to the LMACD Bullish Cross, while the RSI is on Higher Highs and is starting to break to the upside. The consolidation's (bottom sequence) Resistance is just below the 46k mark. Coincidentally, this is exactly where the 1W MA50 currently is. Has the time finally come for BTC to break above it? 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
46
TOTAL CRYPTO-CAP, Bullish Perspectives As Bull-Flag Builds Up!Hello Cryptocurrency Community, Welcome to this new analysis of mine about the Total Cryptocurrency Market-Cap displayed as the market-cap valuation in US-Dollar on the 4-hour timeframe perspectives. In recent times many mixed signals have hit the market however what is a prevailing imperative in this market environment is that the Bitcoin and Cryptocurrency technological mainstream adoption is actually moving forward, this is also why we did not have seen a devastating breakdown to the downside yet. There are further mainstreams adoptions markable such as Rio de Janeiro saving a part of its GDP to hedge against inflation, old economic investment bank Goldman Sachs completing its first Bitcoin Over-The-Counter trade or Malaysia considers to make Bitcoin a legal tender which would be the second country to move on with this fundamental action. These establishments show that the demand to adopt Bitcoin and Cryptocurrency is not decreasing however, in this case, it is also necessary to watch on the actual Price-Action-Determinations therefore I detected important signs, formations, and what to expect in the upcoming times. As when looking on my chart now we can watch there that the Total Cryptocurrency Market-Cap Price-Action recently managed to breakout above the 710 Billion US-Dollar valuation mark and increased bullishness above this region to form a higher high in this zone. Besides that, we can watch a main ascending-channel-formation developing in the range marked in my chart with the orange channel. In this channel the Total Cryptocurrency Market-Cap is developing a wave-count of which the waves A and B are already completed. Now as the Total Cryptocurrency Market-Cap is approaching the main local resistance this is indicative for a pullback to the downside which will complete the wave-count with the wave C. When this happens the Total Cryptocurrency Market-Cap has substantial support within the major Structure-Support marked in my chart in blue, when the Total Cryptocurrency Market-Cap manages to bounce in this zone it will be the appropriate origin of the completion of the whole channel as a bull-flag once the price-action settles above the upper boundary it activates the main target-zone seen in my chart. 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.
CRYPTOCAP:TOTAL3
by VincePrince
2
BITCOIN The Vortex Indicator shows the bottomThis is Bitcoin on the 1M (monthly) time-frame where the short/medium-term noise is filtered out and cyclical behavior can be better illustrated. A rather 'unappreciated' indicator is the VI (Vortex Indicator), which on this long-term chart, gives a clear signal on where the bottom might be in. As you see, every time the red line of the VI crosses above the blue line (Bearish Cross) on the 1M chart, then by the next 1M candle, the market bottom is priced in. Basically in a total of 4 occurrences since 2011, all bottoms have already be in by the time of the VI Cross, and only the January 2015 candle priced the bottom straight after the Cross. Right now, the VI is on course to form a new Bearish Cross, probably by April or May. If this sequence continues to play out, then by the May or June monthly candle, Bitcoin should price the bottom (if not already in). Note that on the August 2012 and September 2020 monthly candles, BTC was above the 1M MA20 (green trend-line), while on the January 2015 and December 2018, it was below. Do you think the price will break below the 1M MA20 by May/ June or the bottom is already in? 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
33
BITCOIN close to a LMACD Bullish Cross. What does the past show?The LMACD (MACD on the logarithmic scale), is a very useful indicator when trying to identify trend shifts, especially on the long-term time-frames. It is particulary fit to Bitcoin when analyzing its historic Cycles on the 1W chart. It appears that the LMACD is only 2-3 weeks away from forming a Bullish Cross (blue line crossing above the orange line) on the 1W time-frame. As the specification suggests, it is a bullish formation technically, and history certainly agrees with it as in a total of 16 LMACD Bullish Crosses only 2 failed to deliver a Higher High. In fact, both of those where the first Bullish Cross in the last two Bear Cycles (red Rectangles). Assuming that since April 2020, BTC is running on a new Bear Cycle (the smoothest as I've called it in past analyses), we see that it has already made one Bullish Cross that delivered a rally and not a new Low. If the upcoming Bullish Cross fails to post a new rally, it will historically be the first time to do so as a 2nd Bullish Cross within a Bear Cycle. It is obvious that odds are vastly against this scenario and most likely the next LMACD Bullish Cross on the 1W time-frame will deliver a rally that will leave behind the Cycle's market bottom. Would you agree or you think this time is different and the next Bullish Cross will deliver a new Low (likely the market bottom)? 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
12
💥UPDATE - HERE IS WHY BITCOIN WILL DROP TO $15,000😬Please support this idea with a LIKE👍 Not a financial advice🙅🏼‍♂️ My bias is based on the fact that after a particular region has been serving as a reliable support for a very long time as seen here, it will become weak and price will eventually break it and hit a low. Extreme fear will set in, then price will take off for a new high. This idea is based on historical price movement on the chart. This idea is a speculation, not an affirmation. Before you criticize, read my reasons here👇👇 If you study the chart closely, you will notice that in DEC’2017 , Bitcoin price hit an all time high at $19,000 . Then it started to drop. Price was falling from DEC’2017 - OCT’2018 with $6,000 price serving as a reliable support. Unfortunately, the controversies between Bitcoin Cash developers in 2018 and some other factors made Bitcoin break the major support level at $6,000 in November'2018 . Then price dropped from this support level breakout from $6,000 to $3,200 Then Bitcoin price spiked from $3200 to another high at $14,000 in JUN’2017 Then price kept falling from this high in a descending channel pattern. Then later broke the support region which made Bitcoin price crash from $7,400 to $3,800 in March’2018 . This Bitcoin crash was caused by the COVID’19 outbreak. Then surprisingly, Bitcoin spiked from $3800 to a new ATH at $64,700 in APRIL’2021 Then price dropped to a new region which became a reliable support for Bitcoin at $29,000 - $31,000. Price has tested this zone 3-4 times. Therefore, I expect Bitcoin to test this region again and break it. As indicated on the chart, each time bitcoin break the support region, it falls by 47% - 49%. Therefore, I expect a crash by 47% from the $29,000 - $31,000 support region to $15,000 - $16,000 region. Also, a major/global crisis is always the determinant factor that influence the support region breakout. In 2018, it was influenced by the Bitcoin Cash developers disagreement. In 2020, it was influenced by the coronavirus outbreak. For 2022, the support region is yet to break . Which crisis did you think will break this support region? Share your opinion in the comment section✍️ You can also demand for analysis of your preferred coin Follow me stay updated about this coin and more helpful projects like this🎁 Happy Trading💰🥳🤗
Short
by PetrockFxTrading
14
BITCOIN $100k or $25k? Comparing today and 2015.Two fractals of now (2021/22) and then (2015/16), two different time-frames (3D and 2D respectively). It is evident that price-wise the two sequences look the same. The MA50 (blue trend-line) is the Resistance, when it broke in 2015, the rally of the recovery started. A Higher Highs trend-line on both. However, the RSI in 2015 has been on Higher Highs too but currently, since 2021, it is on Lower Highs. Potentially that indicates a hidden Bearish Divergence. So far the MA200 (orange trend-line) is supporting but if we close below it, this RSI Bearish Divergence could develop into a price bearish trend. A break above the MA50 invalidates that and should be enough to kick-start the rally towards $100k. Which of the two will prevail? The RSI Bearish Divergence or the MA50 will break? 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
53
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