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Bitcoin can rebound from buyer zone to the top part of rangeHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price a few days ago traded in the seller zone, which coincided with the 29000 resistance level, but after it rose to 29650 point, the price started to decline and in a short time fell to 29000 level. Then BTC broke it and made a strong downward impulse below the 25600 support level, which coincided with the buyer zone, but at once it rebounded up, thereby making a fake breakout. Also then price entered to big range, where Bitcoin traded near the buyer zone. Later price declined to the 25600 support level and even fell below again, but soon bounced back and later rose to the top part of the range. After this movement, BTC declined to the buyer zone and started to trade nearby. At the moment price continues to trade very close to the buyer zone inside the range and I think that Bitcoin can make a correction to the support level, which coincides with the buyer zone, and then the price can bounce and start to rise to top part of the range. For this reason, I set up my target at the 26800 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
12
BTC/USD and its crucial support and resistance areaLooking at this Daily BTC/USD Bitstamp chart from around Oct 2020 to 29th July 2023 (today) we can see a few obvious chart patterns that BTC is still in on this daily chart. 1) Ichimoku Y-Wave Pattern AKA a Broadening Wedge Pattern/Megaphone Pattern 2) Ascending Channel Pattern 3) Descending Channel Pattern 4) Rising Wedge Pattern We can clearly see the crucial range that BTC must break ABOVE and turn into strong support, which is around $28,709 to $32,360 as highlighted by the channel with horizontal dotted lines with yellow shading. This area has been both strong support and resistance quite a few times over the years. As a Strong Support range: Sat 2nd Jan 2021 to Mon 1st Feb 2021 Wed 19th May 2021 to Fri 23rd Jul 2021 As a Strong Resistance range: Mon 9th May 2022 to Sun 12th Jun 2022 Monday 20th Mar 2023 to Monday 8th May 2023 Mon 29th May 2023 (1day) Wednesday 21st Jun 2023 to 29th Just 2023 (as of typing this) Using @LuxAlgo Buyside & Sellside Liquidity indicator, we can see that BTC is slowly filling up its Liquidity Void from around $29,611 to its bottom at $27,051. As we can see from the history of the chart, quite a few of Liquidity Voids do end up getting filled back up even after a long period of year and a half. We can also see that a Buyside Liquidity line is located almost exactly on the top of our important support/resistance area. Using the Visible Range Volume Profile (VRVP) in its Delta mode, we can see what the Traded Volume difference was on each of the Volume Profile Bars for this entire charts visible range. Note that the Volume Area Up is Blue and Volume Area Down is Yellow. Here is a closer look at this 1 day chart. Note that BTC is still below its Bollinger Bands Middle Band Basis, the Lower Band is still pointing downwards and the Upper Band looks like it may curve downwards. I have added a Fixed Range Volume Profile (FRVP) indicator from Thur 15th Jun 2023 to Sat 29th July 2023 (as of typing this). The FRVP is also in its Delta mode and you can clearly see the Traded Volume differences for each Bar. Note that again the Volume Area Up is Blue and Volume Area Down is Yellow. Looking at the Chaikin Money Flow Indicator (CMF) we can see that the CMF Line is still in the Distribution Zone under its 0.00 Base Line and note that it is still Below its Least Squares Moving Average (LSMA) indicator. Note that the LSMA has curved upwards at the moment. Looking at the Relative Strength Index (RSI) we can see that momentum has dropped and the RSI Line is still below its 9 Period EMA line. Using the Bollinger Bands on the RSI we can see that the RSI now has little bit of room to move downwards and a lot of room to move upwards before becoming over extended/overbought/oversold. It really is good practice to be on the lookout for any Convergence and Divergence with the RSI and the Price. The key takeaway from this post, the Resistance Area from around $28,709 to $32,360 is very, very important! Note we also have a Buyside Liquidity Line located almost directly on $32,360. For the Upside: A successful Daily Candle CLOSE above the $32,360 level and any successful re-test as strong support will be a good sign of continued positive momentum to come. For the Downside: Failure to CLOSE a Daily Candle above the $32,360 level will be a good sign of continued sideways to eventual negative momentum. Anyway, i hope this post is helpful.
BITSTAMP:BTCUSD
by entertheroach
🎁sell GBPAUD at the supply and earn +250 pips🔥You can see the analysis of the pound to Australian dollar currency pair in the one-hour time frame (GBPAUD_ 1H)🔎 ✍🏻Considering that the price has been able to break its upward trend line and make a pullback to it, if the price can reach the supply zone, it can fall to the specified targets🔻 🛎» Sell Limit GBPAUD«🛎 🔷The entry range and profit and loss limits are specified below: 💢Entry range: 1.92800 - 1.93040 ❌SL: 1.93100 ✅TP1: 1.90300 ✅TP2: 1.87800 ✅TP3: 1.85800 ⚠️❗️Please follow the capital management❗️⚠️ ----------💎TRADERSTREET💎--------
Short
by TRADER_STREET
Bitcoin long setup hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below. Entry: 27404.68 Profit: 29404.81 (7.3%) Stop: 26150.82 (4.58%) Risk-To-Reward: 1.6 Expected duration: 3 - 7 days Status: Waiting 🕑
Long
by bullstraders7
Commitments of Traders (COT) report for Bitcoin futures Commitments of Traders (COT) report for Bitcoin futures on the Chicago Mercantile Exchange (CME) as of June 13, 2023. Here's a breakdown of the data: Bitcoin Futures (Code-133741): Total Open Interest: 13,251 contracts Non-Commercial Traders (Speculators): Long Positions: 10,086 contracts Short Positions: 9,343 contracts Spreading Positions: 1,875 contracts Commercial Traders: Long Positions: 122 contracts Short Positions: 1,309 contracts Total Reportable Long Positions: 12,083 contracts Total Reportable Short Positions: 12,527 contracts Total Nonreportable Long Positions: 1,168 contracts Total Nonreportable Short Positions: 724 contracts Changes from the previous report (June 6, 2023): Long Positions: Decreased by 20 contracts Short Positions: Increased by 6 contracts Spreading Positions: Increased by 314 contracts Commercial Long Positions: Decreased by 65 contracts Commercial Short Positions: Decreased by 74 contracts Total Reportable Long Positions: Increased by 229 contracts Total Reportable Short Positions: Increased by 246 contracts Total Nonreportable Long Positions: Decreased by 4 contracts Total Nonreportable Short Positions: Decreased by 21 contracts Percentage of Open Interest Held by Each Category of Trader: Non-Commercial Long Positions: 76.1% of open interest Non-Commercial Short Positions: 70.5% of open interest Commercial Long Positions: 0.9% of open interest Commercial Short Positions: 9.9% of open interest Number of Traders in Each Category: Non-Commercial Traders: 38 traders Commercial Traders: 54 traders Percentage of Open Interest Held by the Largest Traders: Long Positions: 66.5% (4 or less traders) and 73.6% (8 or less traders) Short Positions: 33.9% (4 or less traders) and 48.9% (8 or less traders) Micro Bitcoin Futures (Code-133742): Total Open Interest: 7,915 contracts Non-Commercial Traders (Speculators): Long Positions: 4,685 contracts Short Positions: 6,160 contracts Spreading Positions: 593 contracts Commercial Traders: Long Positions: 188 contracts Short Positions: 0 contracts Total Reportable Long Positions: 5,466 contracts Total Reportable Short Positions: 6,753 contracts Total Nonreportable Long Positions: 2,449 contracts Total Nonreportable Short Positions: 1,162 contracts Changes from the previous report (June 6, 2023): Long Positions: Increased by 178 contracts Short Positions: Increased by 95 contracts Spreading Positions: Increased by 139 contracts Commercial Long Positions: Increased by 16 contracts Total Reportable Long Positions: Increased by 333 contracts Total Reportable Short Positions: Increased by 234 contracts Total Nonreportable Long Positions: Decreased by 18 contracts Total Nonreportable Short Positions: Increased by 81 contracts Percentage of Open Interest Held by Each Category of Trader: Non-Commercial Long Positions: 59.2% of open interest Non-Commercial Short Positions: 77.8% For Bitcoin Futures: Total open interest: 13,251 contracts Non-Commercial Traders (Speculators) hold the majority of the open interest, with 76.1% of the long positions and 70.5% of the short positions. Commercial Traders hold a smaller portion of the open interest, with 0.9% of the long positions and 9.9% of the short positions. The number of Non-Commercial Traders is 38, while there are 54 Commercial Traders. The largest traders (4 or less) hold 66.5% of the long positions and 33.9% of the short positions, while the largest 8 or less traders hold 73.6% of the long positions and 48.9% of the short positions. For Micro Bitcoin Futures: Total open interest: 7,915 contracts Non-Commercial Traders (Speculators) hold 59.2% of the long positions and 77.8% of the short positions, making them the dominant group. Commercial Traders hold a smaller portion of the open interest, with 2.4% of the long positions and no short positions. The number of Non-Commercial Traders is 50, while there are 34 Commercial Traders. The largest traders (4 or less) hold 26.5% of the long positions and 52.4% of the short positions, while the largest 8 or less traders hold 35.4% of the long positions and 68.2% of the short positions. Key Points to note: Speculators (Non-Commercial Traders) hold the majority of the open interest in both Bitcoin Futures and Micro Bitcoin Futures. Commercial Traders have a smaller presence in terms of open interest. The number of traders is higher for Bitcoin Futures compared to Micro Bitcoin Futures. The largest traders have a significant influence on the market, holding a considerable portion of the positions. Please note that the COT report provides insights into the positions held by different types of traders but does not indicate future price direction or market trends. It is one of the tools used to analyze market sentiment and positioning.
INDEX:BTCUSD
by Wakandian
Bitcoin Forecast Sunny🌞 (Clear: 100.0 %)🌤️ Bitcoin Weather Report: Sunny Forecast! 🌤️ According to the latest Bitcoin chart index for the past hour, I'm happy to announce that the weather in the Bitcoin world is expected to be sunny ☀️. With a confidence level of 1.0, I have high certainty in this forecast. Let's take a closer look at the key indicators: 📈 Open: 25019 🔼 High: 25063 🔽 Low: 24890 📊 Volume: 18820 📉 Close: 24918 The recent price movement indicates a potential for a dead cat bounce 🐱 following a sharp drop. This means that after a significant decline, there might be a short-lived upward movement before the downward trend resumes. However, it's important to approach this with caution as dead cat bounces are typically temporary and may not signal a sustained recovery. Moving on to the moving averages, we observe the following values: 📈 EMA9: 25101 📈 EMA21: 25355 📈 EMA50: 25621 📈 EMA100: 25781 📈 EMA200: 25909 The exponential moving averages show a gradual increase over time, which indicates a potential upward trend in the Bitcoin market. However, it's crucial to consider other factors and not solely rely on moving averages for investment decisions. Additional indicators include: 📉 RSI: 27 The relative strength index (RSI) is on the lower side, suggesting that Bitcoin may be oversold. This could potentially lead to a buying opportunity for investors, but it's crucial to assess other factors before making investment decisions. 📉 Fast %K: 9 📉 Slow %K: 16 📉 Slow %D: 20 The stochastic oscillator values indicate a bearish sentiment, as the %K values are lower than the %D value. This suggests that selling pressure may be prevalent in the market. 📉 MACD: -279 The Moving Average Convergence Divergence (MACD) is negative, indicating a bearish trend. However, it's important to note that this is just one piece of the puzzle, and other factors should be considered. In conclusion, while the Bitcoin weather forecast appears to be sunny, it's crucial to exercise caution and not solely rely on a single hour's data. The potential for a dead cat bounce after a sharp drop introduces some uncertainty to the market. Remember to consider various indicators, market trends, and perform comprehensive analysis before making investment decisions. Happy trading! 💰📈
BINANCE:BTCUSDLong
by ChatGPT_Bitcoin_Forecaster
Bullish Breakout Imminent for Bitcoin Amidst Falling WedgeBitcoin is currently forming a falling wedge pattern, a bullish chart pattern that is typically seen during downward trends. This pattern is characterized by a narrowing range with lower highs and lower lows. The falling wedge suggests that the selling pressure is starting to weaken and a breakout to the upside is likely. Over the past 24 hours, it has seen a change of approximately 4.6%, indicating a positive momentum. The volume over the past 24 hours has been substantial, further supporting the potential for a breakout. The falling wedge pattern is nearing its apex where the upper and lower trendlines converge. This is typically where a breakout occurs. If BTC touches the higher level of the wedge, we could see a bullish breakout. However, it's important to note that while the technical analysis suggests a bullish scenario, the future of the market is never certain. In terms of news sentiment, the overall outlook for Bitcoin remains positive. Recent news highlights include the launch of Bitcoin NFTs on the Binance NFT Marketplace, and the price of Bitcoin breaking the $26,000 mark. However, there are also regulatory concerns, with Coinbase facing scrutiny from U.S. State Securities Regulators and the SEC suing Coinbase for alleged securities law violations. These developments could have an impact on the broader crypto market, including Bitcoin. In terms of trading strategy, traders should watch for a breakout above the upper trendline of the falling wedge pattern. If this occurs, it could be a good opportunity to enter a long position. However, it's also important to set a stop loss to manage risk. A stop loss could be set below the lower trendline of the wedge. Traders should be aware of the technical resistance levels at 29048, 29143, and 29813, which might experience selling pressure. On the upside, if the bullish momentum continues, price objectives could be around the 30420.74, 31237.11, and 31477.37 levels, and potentially as high as 38403.97. On the downside, support is expected around 25604.51, 24440.41, and 22769.39, with stop losses suggested below these levels​. In conclusion, while the technical analysis and current trends suggest a bullish outlook for Bitcoin, traders should always be prepared for different scenarios. Always remember to manage your risk and trade responsibly. Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Always do your own research and consult with a professional before making any financial decisions.
Long
by bonsai_trade
3
BTC forming a triangle 📊 #BTCUSD (BTC) 💹 Time Frame: 4H ➖➖➖➖➖➖➖➖ 🟢 Buy Breaker Block:25400$ - 25850$ 🔴 Sell Breaker Block :28200$ 29000$ we saw that the price was rejected again from the range I specified and fell to $26370, as I mentioned as long as the price is trading below this level, this analysis is valid, and we have to see if the price will finally succeed in hitting the 25K target in the next 2 days or not! ▪️Trend: EMA Direction Down Price Crossed over HMA ▪️Momentum: Stoch Crossed Signal Down ▪️Volatility: RVI Volatility decreasing ▪️POC: 24800$-24500$ ➖➖➖➖➖➖➖➖ 📝Analysis By Jack_Of_Alll_Trades 📅 05.20.2023
Short
by Trader_Needs
BTC Trading Signal: Go Long In the opinion released last Saturday, I clearly told everyone that if you break the trend line, you can go short, support 28600-28200, and go long near the support, with a target of 29000. Both transactions are perfectly completed. Today, Bitcoin fell below the 28600-28200 support, which has turned into resistance, and the support moved down to around 27200. After a continuous decline, the 30m chart pattern has a rebound demand, so the next transaction is mainly to do more at low levels, and the upper resistance focuses on 28200-28600.
Long
by EagleEyeStrategy