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$WTC Performing Falling wedge in 1DFalling Wedge The falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. Unlike the rising wedge, the falling wedge is a bullish chart pattern. In this example, the falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows. Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows. If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and caught some pips! A good upside target would be the height of the wedge formation. If you want to go for more pips, you can lock in some profits at the target by closing down a portion of your position, then letting the rest of your position ride.
WLong
by Crypto-Adda_Official
Starting to buy bitcoin again on a possible diamond bottomStarting to re-add to bitcoin here around 25700 in what could be the beginnings of a diamond bottom formation on the hourly charts (which is a reversal patten bottom indicator after a bear downtrend). The larger technicals are showing a higher low on the weekly chart here still so its worth adding here and see what happens, stop loss is nice and tight at the bottom of the diamond. Weekly nice and oversold so its worth trying to go long here imo
COINBASE:BTCUSDLong
by breakoutfakeout
7
🔴 The Weekly EMA 200 Line: A Vital Support for Bitcoin's FutureIn the world of Bitcoin, there are certain indicators and lines that hold significant importance for traders and investors. One such line that has repeatedly proven its relevance is the Weekly Exponential Moving Average (EMA) 200 line. It has acted as a crucial support level for Bitcoin in various instances, notably in 2015, 2019, 2020, and 2022. As we approach this level once again, the big question arises: Will history repeat itself and provide support for Bitcoin, or are we on the verge of a potential breakdown this time? The Weekly EMA 200 line represents the average price over the past 200 weeks, providing a long-term perspective on Bitcoin's price action. It serves as a key indicator for identifying trends and key support levels. Traders and analysts closely monitor this line for potential price reactions and market sentiment. Looking back at previous instances when Bitcoin's price neared the Weekly EMA 200 line, it becomes evident that it played a significant role in determining the direction of the market. In 2015, Bitcoin found strong support at this level, leading to a subsequent price surge. A similar pattern occurred in 2019, 2020, and 2022, with the Weekly EMA 200 line acting as a reliable floor for Bitcoin's price. Now, as we stand on the brink of testing this critical support level once again, market participants are contemplating the potential outcomes. Will history repeat itself and provide support for Bitcoin, leading to another upward rally? Or will market dynamics change this time around, resulting in a breakdown below this crucial support level? One cannot underestimate the influence of market makers and their ability to unsettle traders. Their actions can create temporary volatility and uncertainty in the market. However, it is important to approach such situations with caution and not let short-term manipulations cloud the overall market trend. As investors speculate on the future of Bitcoin, keeping a close eye on the Weekly EMA 200 line is crucial. It serves as a litmus test for Bitcoin's overall strength and market sentiment. If history is any indication, this support level may once again play a vital role in determining the next major move for Bitcoin. In conclusion, the Weekly EMA 200 line stands as a significant support level and has demonstrated its importance in previous years. Whether we see a continuation of historical trends or a break from the pattern remains to be seen. As always, it is essential to remain vigilant, consider the broader market context, and not let short-term market manipulations overshadow the long-term growth potential of Bitcoin.
INDEX:BTCUSD
by sailortrades
Bitcoin ; Solid support zone.1-Volume Matters One of the key indicators we always keep an eye on as traders is trading volume. It's no secret that strong buying volume often precedes significant price increases. In the context of Bitcoin, a surge in buyer interest can fuel a bullish rally. Currently, Bitcoin is experiencing a period of consolidation, and trading volume has been relatively moderate. As traders, we should remain vigilant and monitor trading volume closely. A sudden spike in volume, especially on the buying side, could indicate a shift in market sentiment, potentially signaling a bullish trend reversal. 2-Solid Support Zones Another crucial aspect to consider when assessing Bitcoin's potential for a bullish move is the existence of solid support zones. In the price range between $24,000 and $26,000, Bitcoin has historically found strong support. This level has acted as a reliable base during previous market cycles. As traders, it's essential to acknowledge the significance of historical price levels. The $24,000 to $26,000 range has consistently demonstrated its ability to attract buyers and provide a cushion against downward pressure. However, it's important to remember that past performance is not indicative of future results, so caution is warranted.
COINBASE:BTCUSDLong
by Gassem_futures
BTC Price Drops Below SMAs with Negative with Negative BTC MinerOver the past few days, we have witnessed a significant drop in the price of BTC, which is now trading below its Simple Moving Averages (SMA) of 50, 100, and 200. This downward trend indicates a potential bearish market sentiment and raises serious concerns for BTC miners. Furthermore, the BTC miner netflow remains persistently negative, indicating a continued outflow of BTC from mining pools. This negative flow suggests that miners are increasingly selling their BTC holdings, possibly due to growing concerns over the profitability of mining operations in the current market conditions. Considering these factors, all traders must exercise caution and evaluate their trading strategies accordingly. The potential risks associated with continuing BTC trading at this time cannot be overlooked. It is advisable to pause and reassess your positions, considering the prevailing market sentiment and the potential impact on BTC miners. In light of this situation, we strongly encourage you to consider the following actions: 1. Evaluate your trading positions: Take a moment to review your current BTC positions and assess their potential risks. Consider whether reducing exposure or adjusting your trading strategies to mitigate potential losses may be prudent. 2. Stay informed: Stay updated with the latest market news and analysis to make informed decisions. Keep a close eye on BTC price movements, SMA trends, and BTC miner netflow data. This will help you gauge the market sentiment and adjust your strategies accordingly. 3. Seek expert advice: If you are uncertain about the best course of action to take during these uncertain times, do not hesitate to consult with trusted investment advisors or seek guidance from experienced traders. Their insights and expertise can provide valuable perspectives to navigate challenging market conditions. Remember, while the crypto market can be advantageous, it is also inherently volatile. It is crucial to exercise caution and make informed decisions to protect your investments.
BITSTAMP:BTCUSDShort
by bryandowningqln
$ZEN Performed Bullish peanutLSE:ZEN Performed Bullish peanut What Is a Pennant? In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. Pennants are continuation patterns where a period of consolidation is followed by a breakout used in technical analysis. It's important to look at the volume in a pennant—the period of consolidation should have lower volume and the breakouts should occur on higher volume. Most traders use pennants in conjunction with other forms of technical analysis that act as confirmation.
Long
by Crypto-Adda_Official
BTC FAKEOUT As Grayscale Wins SECBuy the rumor, sell the news... Hi Traders, Investors and Speculators of Charts📈📉 Grayscale Investments, the world's largest digital asset manager, sued the U.S. Securities and Exchange Commission (SEC) in July 2022 after the SEC rejected its application to convert its Grayscale Bitcoin Trust (GBTC) into a spot bitcoin exchange-traded fund (ETF). Grayscale argued that the SEC's decision was arbitrary and capricious, and that it violated the Administrative Procedure Act. The SEC had previously approved bitcoin futures ETFs, which track agreements to buy or sell bitcoin at a pre-agreed price, but had rejected spot bitcoin ETFs, which track the actual price of bitcoin. On August 29, 2023, the U.S. Court of Appeals for the Second Circuit ruled in favor of Grayscale, saying that the SEC had failed to adequately explain its decision to reject the application. The court said that the SEC had not shown that there was a "material difference" between spot bitcoin ETFs and bitcoin futures ETFs, and that the SEC's concerns about fraud and manipulation were "speculative." The court's decision is a major victory for Grayscale and the broader cryptocurrency industry. It could pave the way for the approval of the first spot bitcoin ETF in the United States, which would be a major milestone for the industry. Unsurprisingly, the price of BTC reacted to the news. But when we consider technical analysis, it seems more like a fakeout / bulltrap. 👉 Perfect rejection at 200d Moving Averages 👉 The price was already oversold on the RSI, upside was to be expected regardless 👉 "Event" price action is usually bad price action (remember how the price of XRP jumped after SEC victory ruling just to fall all the way back down again) For now, the best course of action seems to be observing from the sideline and look for other trading opportunities with better risk/reward setups across the altcoin market. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck BINANCE:BTCUSD BITSTAMP:BTCUSD BINANCE:BTCUSDT
by CryptoCheck-
27
BTC Bullish - HTF Ascending ChannelCRYPTOCAP:BTC IMO, most likely scenario for #BTC Am not seeing this discussed by anyone I follow, but we are in a HTF (5+ years) Ascending Channel. Target ~$250k in 2024-2025. In the end, it will all look so obvious. Don't get distracted by the LTF's. Eyes on the Prize. #Bitcoin Check out bitcoin's price history, it loves bouncing in HTF ascending channels. One that particularly comes to mind is the 2014-2017 channel (when it broke out to the upside en route to $20k). Bitcoin is a fascinating price chart, will never see anything like it in my lifetime. Just sit back and enjoy the show. -@CryptoCurb
BNC:BLXLong
by CryptoCurb
Warning to Those Bullish on Bitcoin's AscentI have previously shared numerous ideas explaining my perspective on the BTC daily timeframe, making it evident why I adopted a bearish stance on BTC. Today, as BTC reached $25,400, a crucial question arises: what is the appropriate course of action and what lies ahead in terms of price movements? To answer this, let's pick up where I left off in my last analysis. I can assure my fellow traders that fixed range and anchored volume profiles are potent tools for those who possess the knowledge to leverage them effectively. As illustrated in the chart above, I have established three fixed range volume profiles and one anchored profile, enabling me to construct a comprehensive roadmap and trading strategy for the near future. Bearish Scenario: In my previous prediction, I anticipated BTC to reach a target of $26,400, which materialized today. I foresee BTC retracing to the broken uptrend line around $28,000 before resuming its downward trajectory towards $23,000. There's even a possibility of further decline to the substantial volume zone of $16,500 to $17,500. You can validate this using the anchored volume profile tool by modifying the start dates to November 10th and January 10th. If such a scenario unfolds, I anticipate the formation of a double bottom pattern with potential implications for the long term. Bullish Scenario: BTC initiated an uptrend characterized by three cycles and four distinct price zones: $16,500, $23,000, $28,000, and $30,000. These zones exhibit a specific price spacing as follows: Difference between $23,000 and $16,500: $6,500 Difference between $28,000 and $23,000: $5,000 (5/6.5 ≈ 77%) Difference between $30,000 and $28,000: $2,000 (2/5 ≈ 40%) Have you noticed the pattern? It resembles a sine wave, and it appears that we've reached its peak. If BTC were to surge once more to $32,000, it would signal a potential selling point (resembling a triple top pattern). However, a strong weekly bar breaking through the $32,000 mark would prompt me to reconsider my analysis.
INDEX:BTCUSDShort
by Eymen-GUVEN
XAUUSD(GOLD): More Fall?! Well, as you can see the price penetrates below 1893 yesterday. Now I am still bearish on the Gold chart and I expect the price to fall more to fill FVG. We have two different scenarios: The first scenario is the price starting the downward movement from 1902- 1906. The second scenario is the price starting a downward movement from 1910-1920. For these bearish scenarios, we can define 1880 and 1870 as TP. 💡Wait for the update! 🗓️17/08/2023 🔎 DYOR 💌It is my honor to share your comments with me💌
OANDA:XAUUSDShort
by VahidTradingCR
1
Bitcoin has too much liquidity aboveHello, Community! In today's anlysis we enhance the Elliott waves approach for CRYPTOCAP:BTC with the liquidity analysis to understand the likely move. Let's take a look at the 4h time frame BTCUSDT price chart. Here we can see that price has likely finished it's corrective wave 4 which was represented as the ABC zigzag. Wave B was the triangle correction. Moreover, at the very bottom Bitcoin has formed bullish reversal bar. Even if correction has not been finished we have only two local liquidity pool below, which are market with the red circles. At the same time we have a lot of liquidity above which can be easy collected and it's the magnet for the market maker. 5 circles can be collected too easy. After that we have imbalance at the $31k. Here is nothing changed, we assume that price should fill this imbalance at least before dump. But we can also see another one green circle at the top. It wouls be too easy to liquidate all short traders and set the new higher high. Moreover wave 5 is anticipated. Of course, it can be shortened, but in case of normal wave 5 $32500 is gonna be the nice target for this local bull run and the potential reversal. Best regards, Skyrex team __________________________________________________________ 🔥Please, follow us and smash the rocket🚀 button to support us🔥
Long
by Skyrexio
3
TheKing Still Bullish- Despite the silvergate mini Fud, BTC still on his consolidation trend. - this Fud just caused a faster mini retracement but it would have happened anyway. - Next Fud could concern Stables Coins, They are trying hard, no smoke, no fire. - Whatever, at one point BTC will go his natural way. up! ----------------------------------------------------------------------------------------------------------------- - For now look at the Graph : -- BTC still evolving and bouncing on Tenkansen (Yellow Line) -- Senkou Span is making a flat line around 32k ( Violin Line) -- can notice a first support around 21.3K (Tenkan) ( Fibo 38.2% Retracement ) -- can notice a second support around 19.2K (trend) ( Fibo 61.8% Retracement ) (CME GAP 20.9k -19.9k) ----------------------------------------------------------------------------------------------------------------- - imo not a time for trading for a long term investor, just watch. - if you are a Scalper, that's fine, just use a tight SL. - Any Fuds coming and any lower prices are fire buy at the good zones. - i will comment this post with some older analysis so you will get the scheme more clearly. Happy Tr4Ding !
COINBASE:BTCUSD
by thecryer
17