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BTC Elliott Wave count flatHello Everyone. Many of you are aware that I am a fan of Elliott Wave Theory. Although I use various conventional tools, I always incorporate EW to point me in the right direction. I have highlighted my belief that BTC is in a regular flat correction in past posts. This simple correction can be found either at Wave two or wave 4. Considering that wave 2 of this cycle was a Zig-Zag for the rule of alternation, it is plausible that Wave four will be a flat formation or a triangle. Unfortunately, I excluded the triangle formation when BTC broke the 46k, and I am now firmly convinced that it is a flat correction. To sustain this Hypothesis, I have subdivided the various rallies and dips into subwaves. The flat correction subdivides in 3-3-5 waves (Wave A= 3 waves, Wave B = 3 waves, Wave C = 5 waves). I have labelled on the chart the various waves (ABC) and the subdivision of Wave C for your understanding. Furtherly we can see that the current wave C can be subdivided into 2 and 1/2 waves. Therefore we are missing the end of Wave three, the corrective wave 4, and the last leg down, wave 5, which would complete Wave C. How is the personality of wave C? Wave C is a steep painful correction, increasing in volume and very bearish sentiment. So far, the description checks all the boxes. What do we also know? That Wave three usually retrace to wave 4 of minor degree or often 0.382 of its length. The current 0.382 of wave 3 of primary degree (2020 rally) sit at $22123. Even more interesting is that regular flat EW explains they retrace 120-130% of the length of Wave A starting from the end of wave B to a maximum of 160%. The targets considering the above would then be between 24k and 26k. However, considering the projection of the completed wave C following the EW proportion, the target would be $21099. I have also drawn the EW channel connecting the peak of wave 1 and wave 3 and drawn the parallel line starting from the bottom of wave 2, confirming a possible target of $22500. Lastly, to conclude my Hypothesis, the 200W MA projection will be sitting at around 21k. The 200 MA have played as a support in the last correction and bear market of 2018. Hence my prediction is that the bottom will settle between 21k -24k. That will be a magnificent opportunity. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDShort
by CFcryptoTA
2
URGENT-Does Wkyoff history repeat itself? Big Shot & Big PictureHello Guys, Yesterday night and today, we saw a lil pump on BTC pair.Short team looks like nice , everything settling down. I saw already comments that says BTC new Ath is on the way and etc. But let's take a look in another point of view. I been noticing this chart since last high and huge drop. I pointed last spring season fall and how Wkyoff played in chart. We all know that exact analysis worked well. But we can clearly say , we are experiencing little Wkyoff season right now. Don't you think this purple and blue seasons look like mom and daughter? Even tho short term looks promising , there are lots of suspicious act on BTC. First , We clearly can see there is another Wkyoff distribution playing on. Second , there is negative divergence and low volume every highs( exactly like last huge drop blue circle) Third , As We all know September month is called bloody BTC month. Since years , there is no any big positive movements in BTC in September specifically. In my opinion , We will experience another Wkyoff formation. And unfortunately , it will lead another big drop to 37-38k range just exactly like how we saw in last spring. Price moving exactly same. Of course we can witness another scenario at the moment. But I will be on my side believing there will be big drop to 38k until end of September before we see big Rally. There are so many similarity , so volume in BTC for every high , negative divergence and more on is supporting this idea. I don't think BTC will make another high. We will see big drop. Tell me What you think in the comments. Like and comment your ideas with me. Would love to hear! Don't hate me because I am showing you another point of view :) Share this with your crypto friends to be careful. If we dont see another high from BTC , It will be blood lake all over here.
Short
by BeastofWallStreet
17
BTC preparing for next leg downHello everyone, There is not much to say here. In my previous idea, I highlighted how BTC has started a clear intermediate beartrend and I was expecting a break of 42k to reach 35-36k. That's happened. Now what I am eyeing although we saw an increase in volume at this level with a spring at 33k it looks like bulls are not following through and bears are clearly in control. This was more profit-taking and break-even point for some (in my opinion) rather then a buying zone. Although we have the recurring buy the dip narrative, this is mainly driven by retail investors who do not understand markets dynamics and macroeconomy. With the current FOMC meeting, high inflation, end of tapering in March and rates hikes BTC like other risks on assets are suffering a bear trend. Who had to de-risk has likely already done so and we have now retail money and Long-term investor in the markets. Rule number one of trading, NEVER TRADE COUNTER TREND. Although there are people that are able to make money counter-trend, I would like to ask you something: Are you able to row counter stream? Maybe... a lot of energy and likely to fail. Then my suggestion is to try to long in a bear trend and wait for a clear reversal before entering the market. Nevertheless, BTC is creating a clear pattern in which the 20MA and 50 MA are currently dynamic resistances and is trading in a channel. BTC is now approaching for the 4th time the 20 MA and I do not have reason to believe BTC will have a reversal her. Although many will argue that RSI and other indicators are oversold. Well, I suggest you stop using them or learn to use them because in a bear trend the RSI and Stoch RSI migrate to the south portion of the scale and trade there for an extensive period of time, which indicates that bears are in control and there is low momentum for bulls. Nevertheless, I believe BTC after this leg down to 29k will enjoy a small relief rally back to 34-35 before continuing down to set the bottom at 22k. If BTC manages to break the resistance at 41k then I will change my mind and start to possibly look for longs. However, now the picture is clear and anything below 41k is a short opportunity. FOLLOW ME, SHARE, LIKE AND COMMENT
Short
by CFcryptoTA
9
BTC Bitcoin: 1W Chart DiscussionHello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Bitcoin (BTCUSD). The chart is self-explanatory. The price recently formed a bear flag and now it has been breaking down. Also, the price broke below the Support and Resistance Line with an attempt to go back above it however it failed. Since that point, the price has been falling on the weekly scale. The bear flag target is around $22K, however the price may get supported around the $30K region as there is significant support. RSI is headed down and MFI (Money Flow Index) is also falling. Volume has been consistent. The VPVR (Volume Profile Visible Range) shows areas of heavy trading. This analysis is only showing a downside case. If price moves back above the S/R line, the analysis may be invalidated. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
5
Bitcoin can rise to 40k zone, but don't get too excitedAs I said yesterday, after finding strong bids under 34k, Bitcoin has started to rebound and now we are in a correction is underway. At the time of writing, the price is 37400, just under a short-term resistance. A break up to this resistance looks very likely and this can lead to further gains to the important 40k resistance. Although I'm bullish on crypto and BTC in short term, I expect more losses after this correction.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
19
Bitcoin(BTC) LONG TO $40KBTC going on an A-B-C correction which is very common after a good 5 wave impulse Blue 5 wave Elliot wave from 2017 to 2021 ABC corrective wave in RED Wave C is an irregular correction(Wave B ended above start of wave A) and is of 5 wave series in PURPLE Wave C has two more waves to go sub wave (4) and sub wave (5) I believe there will be a more complex sub wave 4 in bigger Wave(C) which might go up temporarily to 40K before the final sub wave 5 ends around 26K The retracement of the subwave 3 of Wave (C) and the fib extension of subwave 2 have a great resistance 40K, so I believe in short term BTC might go to 40K with wave 5 before it goes on final subwave 5 and then reverses Happy trading and please leave feedback
BITFINEX:BTCUSDLong
by JAN360
Bitcoin retrace to $35k then $15k once Apex of Triangle breaks Based on 2 series of elliott waves I've calculated. I have listed the Daily and the Weekly. We are currently selling down on the C wave of the Daily Elliott Wave. There is a hidden Bearish cypher pattern, that initially bounced off of B leg, but we are showing a Triangle and its holding. The failed breakout will result in a retrace back below B leg and break $50, which leads us to my 1st target of $35k,,, More updates will follow once we retrace to the $35k level
COINBASE:BTCUSDShort
by moneyflow_trader
6
Bitcoin has reversed strongly, how bullish is this?Yesterday we had another strong sell-off for Bitcoin in the first part of the day and the cryptocurrency dropped under 34k floor. However, after reaching 33k, bulls totally took control and Bitcoin has finished the day into the green. Considering the almost straight line fall from 43k a deeper correction is not only normal but also healthy. From a technical point of view, 34-34.500 zone should act as strong support and the first clear resistance is slightly above 38k Speculators can look to buy dips under 35k with the mentioned target A new low under 33k would negate this scenario. Best regards Mihai Iacob
BITSTAMP:BTCUSDLong
by Mihai_Iacob
10
Bitcoin Analysis 23.01.2022Hello Traders, welcome to this free and educational analysis. I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities. If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below. I will personally reply to every single comment! If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel. Thank you for watching and I will see you tomorrow!
COINBASE:BTCUSD
by basictradingtv
3
Bitcoin / BTC - Where is it going next?The fibo there is critical and as you can tell the 50% fibo didn't hold and hit my POC - point of control level in aqua blue. The red horizontal lines are daily support / resistance while aqua blue are POC levels. Do note the dotted trend line is a weekly TL and a hit on that would be a third bounce if it holds. With FOMC coming next week this weekend and next week for crypto will be interesting. So be cautious and patient while managing your risk wisely. Original chart post -
COINBASE:BTCUSD
by TradersParadigm
BTC Bitcoin: 1W Chart In depthHello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Bitcoin ( BTCUSD ). The chart is self-explanatory. The Bitcoin price has been heading down since the all time high and now below a major Support/Resistance Line around the $40K-$44K area. The price may get supported by the $30K area, however if it falls below that area and keeps falling, expect the price to get supported by the Extreme Danger Zone Support Line I drew in the chart. Below that is the previous all time high support area. The RSI (Relative Strength Index) and MFI (Money Flow Index) charts show the major support and resistance lines showing historical trends. Volume has been consistent. Lastly, VPVR (Volume Profile Visible Range) shows areas where there is heavy trading. Since the RSI and MFI are coming close to major support areas, the Bitcoin price has potential to rebound but keep an eye on the Volume and traditional markets as there may be a very good chance it may complete a Dead Cat Bounce and come back down again. Lastly, the chart shows a Bear Flag formation which has a target at the Extreme Danger Zone Support Line. This is also a very important line to consider since the Bear Flag formation target is at the same area. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
4
BTC Elliott wave counting N2GM Everyone, I shared before my favourite count. However, this is also a valid EW count at the moment, which I keep as an alternative. The current correction has strong bearish momentum. Hence there is a chance we revisit the 24k. I had this count for a while. However, I was resistant to share it because of internal bias. Nevertheless, we know that bias is not very good in trading. Hence this is a possibility. In Elliott Wave, you always have your preferred counting and then two alternative counts, which are constantly updated as the price unfold itself. 24k is a concrete possibility. My suggestion right now is to play either level by level or stay completely on the sideline and wait for the trend to reverse clearly, or my preferred option is to STAY IN STABLECOINS AND EARN INTEREST ON IT IN DIFFERENT PLATFORMS (anchor, Nexo, kucoin etc.) up to 14% per year. This option will earn you money while doing nothing and counteracting the capital erosion due to inflation. The counting above is getting more and more my preferred one as a drop to 24k would mean a perfect touch of the 200MA (happened in the covid crush). It is also where the long term VWAP since March 2020 is resting, and also it's the 130% of the projection of wave A which is the usual target for wave C of a regular Flat correction. However, I will look into entering at 30 k with tight stop loss, and if I am stopped out because the 29 k level is violated, I will re-accumulate at 24k. This is once in a lifetime opportunity that I won't miss. The last time this happened, Bitcoin increased by 1500% in the year after, and some altcoins, as you know, have increased 100x (ADA 18211%, SOL 136391 + %, ETH 5558%, Doge 68000%). If I were you, I would be dancing right now at the idea of this opportunity. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDShort
by CFcryptoTA
Bitcoin heading towards 30000As I mentioned in previous analysis Bitcoin has some support near 40000 Bitcoin respected the support and bounce about 10%. Now in previous trading session it closed below 40000 and stated trading below the same. Based on current price action 30000 level should be target of this fall. Getting any pull back signal near 30000 will be good for long term investment. On the flip side further breakdown below 30000 will crash bitcoin and you will see 20% to 30% correction near future. 30000 level is the key now.
by nmcapital44