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Bitcointrading

BTC bear flagGM everyone, For those of you that like diagonals trendlines. There are two clear trendlines at work that provide strong resistance short term for BTC. I do not expect much from BTC right now. Clear downtrend with not strong bullish signs and volume gradually decreasing, which, although many will tell you, is a good thing. However, the reality is that the volume is dry because there is low demand and increased supply. We can see this on the few breakouts on the downside we had in the past few weeks. There is a spike of volume on the breakout due to the initial panic and then a gradual decrease suggesting lower demand. Also, as you can see from the chart, it looks like there is a clear bear pennant/flag in play at the moment. If BTC picks up some momentum on the upside, I do not see BTC going any further than 45500 unless strong volume push in and momentum start to turn. It looks to me bulls are scared right now. There is quite a firm conviction from some that BTC is bottoming out. The market is overleveraged, with many stop losses piling up on both sides. However, most of the shorts stop losses are above 46k, but the Longs stop losses are at 40k - 39k, making them highly vulnerable and bears will follow with conviction on a breakout. Although many are calling for different bullish patterns, the reality is that there is a lot of bias at this stage, and there is no clear bullish price pattern. There was a modest spring at 39500, which is bullish per see with good volume. However, the bulls follow-through was weak and with poor volume. BTC has just recently annihilated a cluster of strong supports for the uptrend, which are now all turned in resistances, and they are all sitting between 44 and 52k. I don't see much momentum, and considering the stochastic is almost overbought already, a strong push up is unlikely. Technically or you break them gradually step by step, or the asset has strong momentum behind and break through with strength... Hence in my head, I see continuation. I would reconsider my hypothesis when BTC breaks above 46k. Also, the Elliott Wave counting is not favouring an uptrend but rather a downtrend. Risk management is paramount, and you should know in advance invalidation points and your take profit, so do not copy and paste, follow your strategy as you don't know mine. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDShort
by CFcryptoTA
BITCOIN - Trading in its good support level🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock/Crypto coins to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
BITSTAMP:BTCUSDLong
by PrakWorld_Traders
AT A CRITICAL ZONEIf this support zone that is 42000 to 40000 breaks it can come down to 38000 that is the next support then the next strong support is around 30000. For now it can create volatility. Many trader are just waiting for the breakout as for now its in a no trading zone and its been eating many stop losses. However if it breaks the trend line and closes above 46000 that is BULL zone expect it to hit 50000k very soon. So its better to wait for a proper direction, i am bearish on bitcoin i think it may break the support zone very soon. However i dont trade bitcoin personally i am just sharing my view. Plan your trades!! Hit like & follow guys ;)
BITSTAMP:BTCUSD
by stalkstock
1
BTC bottom and top signalHello Everyone, One of the best Technical Analysts in the world in the book Technical Analysis Explained (Martin J. Pring) explained the use of KST and different moving averages to track reversal and enter when an asset is bottoming or exit when it is topping. In this two indicators system, I use the 12 MA for short term price action and the KST, which track four cycles at any time, giving more weight to long term cycles. This system is very useful as it provides reliable signals, bullish or bearish, by following five different cycles at any given time. As you can see from the chart, it has been very accurate for the past year. So are we bottoming yet? The system: BOTTOM: Price break above 12 MA (purple) with a bullish cross of KST, BOTTOM signal TOP: Price break below 12 MA with a bearish cross of KST, TOP signal. So following the system, I won't look for any long entry. Instead, I will look for a short position or exit on this rally. Can the system fail? Yes, it can. Likely to fail? 10-20% chance. So in trading, a system that gives you 80% reliability is an edge compared to the market. What will you do? (Comment below) FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA
3
BTC FLAT Hello Everyone, In August, I was already evaluating the possibility of a Zig-Zag correction for the 4th primary wave of Bitcoin. However, as things started to heat up and BTC broke above the 60k level, I abandoned the idea. However, back then, I failed to evaluate the possibility of a flat correction. This makes much more sense considering the alternation rule of corrections in Elliott Wave principles. This rule state that if wave 2 of a correction was a Zig-Zag (Check 2019 correction), then wave 4 of the cycle will be either a Flat, Triangle or complex (Double three, Triple three). It was then logical to discard the Zig Zag idea for this correction and embrace either a Flat, Triangle or complex correction. Considering that the possibility of a triangle has nearly failed with the break below the 50 week MA at 46k, I then moved to the idea that we are into a Flat formation. There is to say that the most common correction for wave 4 is usually a triangle. However, I believe the probability of this has now narrowed down considerably. The only possibility of a triangle here is a rising triangle. These are some of the rarest formations and usually, happen when the fundamentals and sentiments are so strong that the asset barely retrace. In my opinion, in the current financial situation, although the fundamentals of BTC are strong, the monetary policy, recession, inflation at its highest after four decades and interest rates hikes for 2022, I believe the flat formation is way more logical. If you look at the chart, I tried to show you visually the three different types of Flat formations and why I believe the regular flat is most likely. Many are hoping in the running flat. However, this is the rarest of the flat formations and similarly to the rising triangle due to high momentum wave B finishing well above the start of wave A and wave C end into the price action of wave B well above the end of wave A. Now wave B wasn't a great higher high well above A, but a fake-out that fully agree with the idea of a regular flat. In a regular flat wave, C is made of 5 waves and is usually a painful wave for the market participants. It usually retraces up until the end of wave A, and it usually finishes at 123% or 138% of the projection of wave A. Considering this, I expect wave C to end at around 29k. This also agrees with the Elliott Wave channel lower boundary, which I have drawn previously in other ideas. I can be wrong, and this correction unfolds in a complex correction with the first ABC being a ZIG ZAG, the second a ZIG ZAG, and now forming a small triangle. Nevertheless, rest assured that after this correction, BTC will hit my targets of 185K. The timeline has just been delayed. I would love to hear your ideas, so please feel free to comment below. FOLLOW ME, SHARE, LIKE AND COMMENT.
by CFcryptoTA
1
BTC Bitcoin: 1D Chart UpdateHello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Bitcoin (BTC). The chart is self-explanatory. The price has two potentials from the Support and Resistance Trend Line which is in confluence with the VPVR (Volume Profile). Volume overall is low and Ichimoku Cloud shows a red cloud upcoming (resistance). Lastly, zooming out, you can see a Double Top Pattern, which is a bearish pattern . The $39K-$41K area is a very important area to keep an eye on. Shown in the chart: Trend line, Ichimoku Cloud, Support and Resistance Line, Volume, Volume Profile, Rising Wedge Pattern, Double Top Pattern. 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
BITSTAMP:BTCUSD
by MillionaireEconomics
16
LAST CHANCE FOR BITCOIN!Bitcoin is at a large level of support. Price is having a short term recovery with poor volume which indicates that this support level is weak. If this support was valid BTC would have bounced to 45k. The MFI on the 2h chart is looking strong but could turn bearish very quickly. BTC is trading below the 200SMA which is a bearish signal. BTC is also trading below all of the EMA Ribbons. These EMA Ribbons were previously used as a strong level of support. BTC has held above the EMA Ribbons for a good period of time. BTC is looking to hold below these EMA Ribbons with a good amount of selling volume. On the 2h chart we are also seeing a one-body candlestick formation which is bearish due to the fact that the latest candle did not have the ability to close or wick above the previous candle. This candlestick formation is bearish once spotted on a strong level of support. BTC also doesn't have a large volume spike which would make this support valid. I would wait before going long on BTC. This support needs to be confirmed by a large amount of volume and a leg up in the price of BTC. TD Sequential is also looking bearish because we have a green 4 that is about to close below a green number 3. This indicates that we have an invalid uptrend. BTC made an attempt to break the downtrend but is looking to fail. BTC could bounce from here, or break the support and drop to around 29-35k. *WARNING* This thread and analysis is not financial advise. I am not a financial advisor. Thank you for reading.
COINBASE:BTCUSDShort
by Patriick2jz
BTC path laid outHello Everyone, Here is a closer look at the price action of BTC expected in the next month and a half. This is a follow up to this morning idea. In this chart, we look at the current bearish wave C. I tried to track a few different wave cycles to be as accurate as possible. The future will show us if I am correct. In the meantime, I will play accordingly to this blueprint until invalidated. The bottom is not in yet. We are still due for a painful 30% drawdown. So stay safe, and if you find it challenging to follow an Elliott Wave plan, play for a horizontal level. This will help you to stay safe and manage your risk correctly. I am now expecting a feeble push to 43500 with a rejection that will send BTC down to 37300. BTC will have the long waited for bounce relief up to 45k to then reach the bottom down to 29k. This should be over by the end of March. Stay safe. FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA
BTC Flat correction confirmedHello Everyone, The last two months have been intense in the crypto market. After touching 69k, the market dropped 40% from the All-Time High. Looking at the chart, it was logical to exit the market at around 70k. Although I called the top, I have re-entered the market at 55k, expecting the run to 100k like many others. That was a pure emotional mistake (that is why risk management with stop losses is essential) that I hope I will treasure and avoid in the future. Although the market looked strong in price, the volume told us something else. It was drying on the rally. This is typical of wave B, which is a fake run. You can see the difference between a legit run and a phoney in the chart. Nevertheless, there were other signs in the market structure. In the chart, I highlighted the primary and intermediate Elliott wave cycles. If we had to look closely at the chart, we could appreciate that BTC had a zigzag correction back at the end of 2019. By the rule of alternation of EW, we should have expected a Flat formation or complex formation developing sideways for the primary wave 4 (the one we are in now). Nevertheless, until we were holding above 46k, I was giving the benefit of the doubt to BTC and expecting a possible rising triangle. However, since we lost the 46k level, the market has confirmed the flat formation. BTC is now in wave C of intermediate degree, which is usually very painful for market participants. I expect BTC to have a bounce relief from 39-40k retesting the lost level at 46k. I expect a rejection that will create a cascade down to 30k, where BTC will conclude the correction. This aligns perfectly with the Elliott wave channel I have drawn on the chart, which is constructed by linking the top of wave 1 and wave 3 and drawing the parallel line starting at the bottom of wave 2. I have used the line chart as it is clean and blocks the swing's noise, which is best when wave counting. However, we can maybe expect a swing below 30k due to extreme emotional reaction at that level, touching 27-28k. Despite all this bad news, there is some good news. I see BTC bottoming out around middle March. I expect a slow start with wave 1 being steep, but due to the bearishness of market sentiment still deemed as bounce relief with people calling Nonsense levels such as 3-6 k for BTC. Wave 2 will feel like this with a lot of uncertainty. However, things will start to accelerate quickly after that. My final target hasn't changed, and I expect BTC to top at 185-195 k. Unfortunately, the market has to go through the pain of the correction before getting the sweet fruits of the next bull run. If BTC breaks above 54k, this hypothesis will be invalidated. Anything below 54k, then the flat is still in full force. I will start looking for shorts at around 46k expecting lower levels to 30k. If you have any questions, please feel free to comment below. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSD
by CFcryptoTA
11
BTC downtrendGM everyone, as promised, the continuation of the report HTF (Daily): The high timeframe shows a firm downtrend for BTC with a diagonal trendline resistance in full force A breakout of the diagonal resistance would be a positive sign indicating that the bears are losing their grip Nevertheless, let s analyse the move since July, focusing on the volume. Last year rally (2021) was a phoney rally. What do I mean by that? It was essentially a fake rally because it wasn't sustained by volume. We can see that in July as the volume dried up from the absence of sellers the price started to pick up on a small increase of volume. This is typical of local bottoms. However, the volume has failed to pick up strength suggesting less interest by the participant, not much conviction. Instead of any retracement, we could see there was a strong spike of volume which was suggesting that bears were still strong and working in the background. We could see an increase in volume on the topping process. this is typical of big players, institution unloading their shares/coins on the enthusiasm of retail traders. This was a clear suggestion that a local top was due. If we follow the volume then we can conclude that the November top was in fact a local top which doesn't mean this was a Macro top but I would see it as a short term top. Back at the beginning of December when we had the massive sell-off to 42k I was suggesting that if price and volume weren't going to pick up momentum and strong break above 52k BTC would have seen lower prices with my short term target of 39-40k and final target of 30k. Looking at the Bollinger Band (BB) we can see there was a squeeze recently indicating strong volatility imminent with also the price breaking above the 20 MA of the BB to just shortly after breaking back below with a tower top formation, a bearish pattern on the daily. This suggested that bears had an edge on the market and although BTC looked ready for a bounce bears were still in control. Nevertheless, the real blow came when BTC 2 days ago effectively lost the 45500 support which was in force for the last 4 weeks his as previously talked gave a downward target of 39-40K by measuring the price depth of the recent rectangle formation. The recent breakout holds strong significance because BTC has also lost the 52 week VWMA which was working as support for the last year and a half and at the same time has lost the 200 day MA which is also a worldwide indicator used to assess the strength of an asset (below downtrend above uptrend) On this breakout downwards we also had a volume confirmation with volume increasing significantly without any sign of climax which suggests this was a valid breakout with possible downwards continuation. The price has also closed outside the BB lower boundary which once again suggests a follow-through of the trend. A daily close back into the BB will signal a possible bounce back to the mean (20MA) back to 46-47 k. This is now expected However the magnitude of the bounce, volume and market behaviour will be an important indication of whether we found the local bottom. Now considering the Horizontal support and resistance, there are 4 main levels to pay attention to: the closest ones are the September low at 39500 for support and the 45500 support just recently turned resistance. A break below or above this level will create a down or up continuation to the next support and resistance. The 2 most important levels at the moment are the support at 30k and the resistance at 52k. In my opinion, the 52k resistance is the most important level to reclaim before calling any possible bull run. It is an important level signifying the high of September and the recent top of the local head n shoulder that has pushed us down to 40k. Right now I am looking for a reaction from BTC expecting a retest of the 45500 level short term. A possible violation and follow through to retest the 52k level won't be bullish in my opinion, I will still classify that as a bounce relief unless the 52k is reclaimed. There is a possibility BTC could be forming a Daily head n shoulder with the neckline sitting at 39 and invalidation point at 52k. If the HnS is completed then the downward target will be 24k. Although this is scary is still a possibility, but is far in the future right now. Lastly, the Stoch RSI and RSI are in oversold condition and due for relief. In the RSI a clear downtrend trendline can be drawn If the RSI manage to break above with a good volume follow through then this may suggest a new rally may be started. However, I will eye the 52k level before thinking about any serious long.
Long
by CFcryptoTA
More bad news for BitcoinElliott Wave Bitcoin analysis: Unfortunately more bad news for crypto holders I recognised the Impulse wave down. We are in Wave 5 down. Trend Based Fib Extension finding support 1.618 at $ 33, 700 possibly even going down to &30,300 previous support level from 21 July 2021. Disclaimer My content is intended to be used and must be used for informational purposes only.Do your own analysis before making an investment based on your own personal circumstances.
BITSTAMP:BTCUSDShort
by WavesInvesting
BTCUSD D1 - Long Setup (DCA #1)BTCUSD D1 DCA price number one has practically been seen, looking for entries around this $40k mark, we DCA because we want to dollar cost average our entries incase the entries we are looking for ultimate don't trigger. For example, $30k is another entry point for us to consider DCA'ing. If we don't see $30k and we are hoping to put all our eggs in one basket, we may miss the boat completely and the ship sails without us. Therefore missing out on all opportunity. DCA offer us the chance to manage our entries, risk and average the rewards whilst guaranteeing market positions.
BITSTAMP:BTCUSDLong
by Trade_Simple_FX
BTC Extrapolated Trend-Based Fib Extensions 2017-2022In this analysis, I was initially charting BTC's ascending triangle and finding the price target range. I went to confirm that we were truly at a bottom by using the Trend-Based Fib Extensions and also confirm the price target range, both have been confirmed. Then I began to question whether the previous cycle's Fib Extionsions had any implications on price levels of this cycle, and it appears they do. I had extrapolated the .618 fib (widely viewed as the most crucial level) all the way out to 7.618, through out this extrapolation, I was able to identify many of the key resistance and support levels that we have found throughout this cycle, and presumably into the future. The 6.618 Fib Extension from the previous cycle lies within a reasonable range of the 1.382 Fib Extension from this cycle, which also coincides within the price target of our current ascending triangle pattern. Hope this gives insight to those who are inquisitive and a nice dose of hopium to those who are fearful. 12 years ago BTC was below a dollar and it will continue to trend upward over the long term.
COINBASE:BTCUSDLong
by LordFarquad
BTC updateHello everyone, If you followed my idea yesterday, you should have been prepared for this. You knew that if BTC had lost the 45500 level, then we would have broken down. Unfortunately, this has been painful for many of you. Nevertheless, being prepared should bring you a bit of comfort. BTC has just confirmed us the worst. With the current monetary policy, risky assets are under pressure due to the spikes in rates and tapering. Nasdaq was one of the worst-hit, and BTC has followed. Previously I talked about three different scenarios using the Elliott Wave theory: - 1 Ascending triangle (my preferred count previously) - 2 Accumulation before the explosion - 3 Big Flat I have to update my idea now and confirm the flat. I know many of you will be demoralised, but the good news is that you will be able to buy your favourite crypto cheap and make more gains in the next cycle. You can see in the chart here presented that if you follow all the counting, it makes sense to believe that the final bottom will likely be at 30600. The end of the fourth wave of a smaller degree is the 100% extension of May's wave A, and it is in Fibonacci equilibrium with the previous waves. I am now looking mainly at shorting the market, and I will personally exit most of my cryptos. This is following my strategy and my view of the market. It doesn't need to be yours. The main resistance now sits at 45500, and soon there will be a test of it and failing to be reclaimed will be another confirmation of more downside potential. Just by using the extension target of the rectangle pattern, we have violated the target is 39k. Nevertheless, that will be the end of wave 3 in this downtrend. I will then expect a retest of 45500 and then one more leg down to 30k. In case the 45500 is reclaimed, then a possible uptrend may be starting, but it will need to be assessed then. For short term trading, I will always use more traditional tools like resistance and supports similar to the one used in the last few days as they have a better short term directional forecasting potential. The EW will be there in the background to highlight some of the long-term possibilities. So going for steps: BTC has lost the 52 week MA (2 years dynamic support) - retest of 45500 (52 week MA) - target 39k if 39k fail to provide support and BTC do not break above 45500 then will look at 30k. I am now focusing my trades on the shorting side. I hope this makes sense to you. FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA