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BTC Looking For A Recovery??!We've have been seeing a healthy correction over the past 2 weeks and i think we could see BTC start to recover a little bit soon. We have been riding the bottom bollinger band for the last 5 days or so and we could see a break of that after our daily close tonight! Looking for a break and hold of the 0.3 FIB level or aprx. 50.8K$. The Zero Lag MACD is showing a possible reverse with us getting a buy signal aswell as a strong reversal of the red MA. Our blue and orange look like they are about to swap and turn bullish! It is possible we get rejected at the 0.3 FIB and we very well could see a stronger pullbck i would say at the most bringing us to low 40s to 45k. We are still seeing money flowing out looking at the Chaiken Money Flow, we are starting to come back up hoping to see a nice curved bottom and some money flowing into BTC and the market. Not financial advice just my opinion! rarible.com check out my first NFT! leave some feedback and there is more in the makes right now!
BITSTAMP:BTCUSD
by JacobR905
Intracycle Top Idea (BTC)Today I have been going over the possibility of intracycle top playing out for bitcoin. In the past there has been one cycle that has had a intracycle top and that was the cycle of 2013 , price peaked and crashed only to come up later that year to put in a higher high. The Fibonacci Time Zones I have set on these dates have been working really well so far at pin pointing potential pivot points in this bull run. If price does peak at 125k on June 8th 2021 there is a possibility that it is a intracycle top, with another peak following on April 13th 2022 at 320k. The Genesis Line This red dotted line you see in the chart acting as resistance goes back to the very beginning of bitcoin it has acted as support and resistance through the years, its by far the line that has the most confluence points in bitcoins entre history. So from peak to peak in the cycle 2013 , it took bitcoin 235 days , the number I get using Fibonacci time zones is 298days if there is a intracycle top , also a 50% drop to the 0.5 fib would be in play since price has been dropping back to the 0.5fib the entire bull run I will link my previous TA showing exactly that. Since there has only been one cycle before with a intracycle peak there is no real strong data to go with , one data point doesn't hold much weight. One thing's for sure is that this red resistance line is no joke and I strongly believe that its going to play a big part in bitcoins future, i will link below a picture of the Genesis line. ibb.co
BITSTAMP:BTCUSD
by Sporia
8
Bitcoin scenarios 12 of April 2021 / 4h chartHi guys, If we watch the chart we can see a series of lower lows, higher lows & lower highs. This tells me we are consolidating before the next move. We notice the fact that since the 13th of March we didn't manage to make a new ATH. This day actually coincides with the big black swan drop we've seen in 2020 (Covid panic sell). Probably March the 13th is the "Friday" of the year ;) Bull : we consolidate towards the previous ATH and make a sustained 4h close breakout over the 63.000$ levels . Bear : we can see that all attempts in the last 6 to 8 weeks broke down. This shows me that maybe we are due for some serious correction. If this is the case I think we will revisit the lower 40.000$ levels. Everybody is focused on alt coins these days, but be careful, when the king moves, altcoins will follow. Trade safely my friends, this is not financial advice, only drawings on a chart.
by Robi_Nitu
2
Possible scenarios on bitcoinIt is very likey in my opinion that the price is developing an ascending triangle, but needs confirmation. Scenarios: 1. Price reaches a lower low in 53.5k, and breaks ath forming the ascending triangle pattern. 2. Price fails to make a lower low, but support in 51k helds and price retakes bullish force, probably enough to break ATH in the incoming test. 3. Support at 51k breaks, so very likely to reach MA200 at 38-40k. RSI is not showing strenght, we need also to break the downtrend. Otherwise is very likely that scenario 3 will take place and a great buy opportunity will come.
by PedroNegreiros
Bitcoin is going either to $65000 or $53000.Bitcoin is currently having some problems to break above $60000, as a break above this level could easily lead to new all time high, or at least reach the previous all time high at $61844. Bitcoin is still in a bull run phase and is currently located in a flag formation with resistance at $60000 and support at $57000. Still a break below $57000 will lead to a retest of 50 daily EMA which is located at $53000, this is where we expect the dips to be capped, an ideal buy position. So we are really looking at two scenarios only, depending on which level will be broken. Indicators, indicators where is the price of Bitcoin headed? Relative demand indicator RSI has failed to break above 60 few times. The 60 level is identical as $60000. It’s interesting how 60 and 40 usually represent some strong resistance or support levels. On the same page, a break below 50 EMA would mean a break below 40 RSI. Conclusion to RSI is that we’ve look for a move lower. MACD failed to give a buy signal twice and bearish wave is currently extending. We look for this selling wave to continue. Overall daily trend is a strong uptrend as the price of Bitcoin is still above 20 EMA. However a break below this 20 EMA will lead to extended losses to 50 EMA. So what’s next based on this analysis? Current price action is suggesting a drop below $57000 that would lead to extended losses to $53000 where a support will be found.
Long
by TiborVrbovsky
4