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Technical Analysis for Bitcoin (BTC/USDT) with trade plan Technical Analysis for Bitcoin (BTC/USDT) Overview: The chart indicates that Bitcoin (BTC/USDT) has formed a falling wedge pattern, which is typically a bullish reversal pattern. The price has recently hit a second bottom within the wedge and is showing signs of a potential breakout. Key Levels: Support Levels: Immediate support around $58,000. Stronger support at the lower boundary of the wedge around $55,000. Resistance Levels: Immediate resistance around $60,000. Major resistance at $62,500. Target resistance levels at $67,500 and $72,500 after a confirmed breakout. Indicators: Volume: Volume is relatively steady, with potential for an increase during breakout attempts. Market Cipher B (MCB): The MCB indicator shows a potential divergence and has bottomed out, suggesting a potential reversal. Relative Strength Index (RSI): RSI is currently around 29.65, indicating oversold conditions and a potential for upward movement. Stochastic RSI: Stochastic RSI is showing a bullish crossover, indicating a potential for upward price movement. Trading Plan: Intraday Trading: Entry: Look for a bounce from the immediate support around $58,000 or a confirmed break above $60,000. Stop-Loss: Place a stop-loss slightly below the support at $57,500. Targets: First target at $60,000. Second target at $62,500. Scalping: Entry: Enter long positions on small pullbacks or breakouts above key resistance levels (e.g., $58,500 and $60,000). Stop-Loss: Tight stop-loss around $57,800. Targets: First target at $59,500. Second target at $60,500. Exit positions quickly if momentum slows. Swing Trading: Entry: Wait for a confirmed breakout above the falling wedge, ideally above $60,000. Stop-Loss: Place a stop-loss below the recent swing low at $55,000. Targets: First target at $67,500 (mid-term resistance). Second target at $72,500 (long-term resistance). Conclusion: The current technical setup for Bitcoin suggests a potential bullish reversal with a possible breakout from the falling wedge pattern. Intraday and scalping strategies should focus on key support and resistance levels with tight stop-losses. Swing trading offers a more significant upside potential if the breakout above $60,000 is confirmed. Monitoring volume and price action closely around these levels will be crucial for making informed trading decisions. Advice for Long Position: Confirmation: Ensure a confirmed breakout above $60,000 before entering long positions. Risk Management: Use appropriate stop-losses to manage risk effectively. Targets: Aim for targets at $67,500 and $72,500 for swing trades, adjusting stops as the trade progresses. By following this plan and keeping an eye on market conditions, traders can capitalize on the potential bullish reversal in Bitcoin.
Long
by elfabiiani
Bitcoin Bearish MACD Cross: Is The Cycle OVER?In this analysis I want to shed some light on the fact that the 2-week Bitcoin MACD is likely going to make a bearish cross soon. Historically, a bearish MACD cross has ALWAYS signaled the end of the bull market (first two cycles are not on the chart, you can scroll back and look for yourself). I'm aware that 2021 was an outlier, but don't forget that all technicals peaked in 2020. I've been bullish in the short- and mid-term, but there's more and more long-term indicators that are flashing red at the moment, this being one of them. Not calling for a huge drop yet, but this signal is definitely one for the bearish. Interested to hear your thoughts about this!
INDEX:BTCUSDShort
by FieryTrading
10
XRP → Rally to 0.730 ↑ The fundamental denouement is comingBINANCE:XRPUSDT is approaching a possible decoupling, both technically and fundamentally. Positive signs of life could lead to a rally, first stop could be around 0.73. On W1, the coin is trying to live, but there is a huge fundamental reason that keeps the price from going beyond resistance and flat: The SEC v. Ripple litigation. The Ripple vs. SEC case is a pivotal moment for cryptocurrency regulation, as a final victory would be a strong green sign for the entire cryptocurrency community amidst the SEC getting a number of restrictions on its activities lately due to overstepping its authority. Ripple's CEO believes that the final verdict could come at the end of the summer. Everyone is counting on a positive outcome for XRP: The court found that Ripple violated federal securities laws by making institutional sales of XRP, but dismissed other charges brought by the SEC. Ripple Labs opposed the SEC's proposal to fine the company nearly $2 billion. Ripple Labs said the court should impose a civil penalty of no more than $10 million Technically: Price continues to test the wedge resistance with the aim of breaking it, volatility decreases and consolidation continues. Below 0.4637 buyers are not letting the price in yet, which may lead to another retest of the resistance, which will only increase the chances of a breakout. Price consolidation above 0.4962 will be the root cause of market character change and possible rally to 0.6265 - 0.73. Support levels: 0.4637 Resistance levels: 0.4962, 0.5720 I expect that the buyers will still be able to break through the resistance of the bearish figure in the near future and ride the rally to the mentioned targets. Regards R. Linda!
Long
by RLinda
57
UNFI → Resistance Retest. Ready for a breakthroughBINANCE:UNFIUSDT is showing positive dynamics amid the red cryptocurrency market. The coin is approaching strong resistance and we have the potential to catch a breakout with subsequent growth. On the weekly timeframe, the coin is still in consolidation (range 16.0 - 2.5). But, against the background of the general neutral trend we have a downward resistance, which is once again being retested. A pre-breakout consolidation is formed against the wedge resistance, due to which an attempt to break the line and further strengthening can be formed. An initial test of resistance may lead to a small bounce, but a quick retest will increase the chances of a breakout. Support levels: 3.281 Resistance levels: 5.716 I expect the formation of a local consolidation with a gradual push to the resistance of the wedge and further breakout. Regards R. Linda!
ULong
by RLinda
13
Bitcoin is currently in a strong downtrendBitcoin is currently in a strong downtrend on the 4-hour timeframe, consistently declining over the mid-term. It's positioned within a robust and long-term descending channel, continuing its downward movement. As long as Bitcoin stays within this channel without breaking upwards, the market sentiment remains bearish. A trend reversal is only likely if Bitcoin breaks out above this channel. Currently, Bitcoin is near the upper boundary of the channel, suggesting a potential drop towards the lower boundary. After hitting the bottom, there might be an opportunity for an upward move.
by MonoCoinSignal
2
Bitcoin's Inverse Head & Shoulders Playing Out As ForecastedFive weeks ago I made my first analysis on this pattern where I argued that the dotted purple support was my ideal target for an inverse H&S reversal pattern. Once we were there it was a moment of truth for the bulls. My initial trade had a stop that was too tight. Nevertheless the overall idea was a success since we've now successfully reversed from my purple support area. The daily RSI hitting oversold for the first time in almost a year was a great entry signal for crypto as a whole. I'm expecting the bullish trend to continue at least for the next few weeks towards the top resistance (neckline) of the H&S. Keep in mind, the inverse H&S is not completed yet. Once we hit the neckline (and ideally break through it) we can see a new all-time high coming soon. Are you bullish or bearish? Share your thoughts.
Long
by FieryTrading
12
Short-term Bitcoin Analysis - Don't looking for long-term!!!Hello friends, I always provide short-term analysis in my trades and the analyses I conduct because market conditions are variable and can change rapidly. The longer the analysis timeframe, the fewer factors and conditions it incorporates for potential changes. So Don't looking for long-term analysis! Let's start with the Bitcoin analysis: After hitting a new high, the price experienced a drop, but we cannot call this drop the end of the bull run or a trend reversal. We are simply observing the formation of a base. This base could potentially rally on the weekly timeframe, or maybe not. As long as Bitcoin remains above the 58,200 to 59,100 level (the green zone from which the price bounced back), it can continue its upward movement. However, if this support zone is broken, the price could drop to a lower green level. If you are a holder, you might consider lightening your portfolio if there is a sustained break below the support zone. Keep your trading simple.
Long
by Thisis_crypto
Short-term Bitcoin Analysis - Don't looking for long-term!!!Hello friends, I always provide short-term analysis in my trades and the analyses I conduct because market conditions are variable and can change rapidly. The longer the analysis timeframe, the fewer factors and conditions it incorporates for potential changes. So Don't looking for long-term analysis! Let's start with the Bitcoin analysis: After hitting a new high, the price experienced a drop, but we cannot call this drop the end of the bull run or a trend reversal. We are simply observing the formation of a base. This base could potentially rally on the weekly timeframe, or maybe not. As long as Bitcoin remains above the 58,200 to 59,100 level (the green zone from which the price bounced back), it can continue its upward movement. However, if this support zone is broken, the price could drop to a lower green level. If you are a holder, you might consider lightening your portfolio if there is a sustained break below the support zone. Keep your trading simple.
Long
by Thisis_crypto
So...Against popular belief, it is what it is. unfortunately, it's not where people want it to be. People want to think I am anti Bitcoin, or negative to the cause. Again, this could not be further from the truth. I'm just one of the lucky ones in early and care very little what it does at the moment. It's clear people try to find bullish narratives especially when gone all in, but you have to remain a realist to make good money. Well at least over and over again. I've shared various posts and stream over these last couple of years and still not likely to win popularity contests or crypto influencer of the year when you don't have rhyme nor reason to scream for 100k with a silly face on each thumbnail. COT data still shows a negative LF sentiment - this is not big boys getting REKT, it's big players profiting at a premium (whose selling to the retail crowd?). I have spoken to some level headed players in the space; one of which was Ryan at Uncomplication and we spoke about why the options would be good or bad for the short-term. Kind of kike an "if this, then that outcome". As you can see from these options; option 1 and the preferred move would have been an extended accumulation phase. Thus giving enough fuel to take a real shot at the moon. I also shared posts about the interesting movements down low, prior to this move up. Now the issue for option 2 or 3 playing out was the limitations to the upside without a run on lower liquidity. So again, not needing to visit 12k or 9k - just to grab stops and cause serious doubt is enough in situations like this. You might have already seen the Wall Street Cheat Sheet; These things are as old as time. As option 1 didn't play itself (we did not accumulate enough) the move up has all the hallmarks of a larger degree corrective. Hence, in the ideal scenario; we would have seen a pullback allowing "fair value" to be accumulated, instead the CVD showed an existing positive position meaning profit taking up high. Thank you by the way. This move would have been on the cards & the chances are we could be. However, the concern and issue is this caps the upside on a colossal scale to a little over 100k before a very, very long term corrective kicks in. Still waiting on $135k as every influencer and their dog screamed for. Yup, still waiting from Nov 21, 22, 23 and nearing 24. The question you need to ask, is after 12 ETF approvals and retail screaming MASSIVE Net-inflows, we just had a halving and of course the golden price multiplier. So the question is; what's pinning it down? where is the lead balloon? Option 2 we talked about was if the price had created a classic ZIG-ZAG corrective move; 48-52k would have been optimal. The reason this was worse than option 1 was it means a longer time in limbo. Now option 3 paints a combo of the two as you technically have either a weak move impulsive up leading to a long corrective or a corrective B giving a running flat B hence another slow burner down before some real momentum can be had. I covered every major move over the last couple of years, now it's becoming more institutional it's only time. Just because retail wants 100k tomorrow, doesn't mean it has to play ball - especially not in the timeframe majority of retail want it to happen. I think the move needs a natural play both ways here; now we have massive liquidity sitting lower and of course a lot of eager, anxious buyers higher. COT is a big telltale sign for me. I also covered and published the move options in the book' So when I say, nothing has changed. It means since talking about this the first time - we are still playing out the worst of the 3 options so it seems. I'll finish with - 12 ETF's x Price Multiplier + Halving = WHY NOT $1 million yet? Take it easy and see you on the next post. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
15
Bitcoin Dominance at key levelBitcoing dominance at a critical level now. If BTC.D break upper line with weekly candle, BTC will pump more and BTC will make a new ATH in 2024. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
CRYPTOCAP:BTC.D
by rukshan2102
1
Ethereum Waiting For A Great EntryAs seen on the chart, ETH has been trading alongside two strong bullish supports over the course of the last two years. Personally, I'm waiting for a better entry before considering a near-term long swing entry, trade is on the chart. These supports have historically held strong, so chances are that they will continue to do so. Keeping the TP close to reduce risk. A riskier bet would be to put the TP at 5.000, higher risk and also higher reward.
Long
by FieryTrading
2
ETHFI Trade Analysis Trade Overview: ETHFI is at a critical support level, having tested this support line multiple times. Despite showing relative strength on the 24-hour and 7-day timeframes, the token has not moved up. A clear invalidation is a prominent close below this major support. Trade Setup: Entry: Enter a trade at $2.9. Take Profit: Set profit targets at $3.6 and $4.3. Stop Loss: Place the stop loss just below $2.7 to minimize potential losses. 📊🔍 Watch ETHFI's price action carefully, and be ready to adjust the strategy if it breaks below the support! #ETHFI #CryptoTrading #RiskManagement 🌐🔒
Long
by Richtv_official
BITCOIN'S ULTIMATE PARABOLIC CURVE — EYEING $181,267.00The Parabolic Curve often emerges near the culmination of a major market surge, marking the end result of numerous base formation breaks. Your support means the world, so smash that like button to keep the motivation flowing! 💙💛 The Parabolic Curve patterns are commonly observed in growth stocks with innovative products, groundbreaking technology, novel business models, or visionary leadership. Typically, these assets represent market leaders — like Bitcoin for crypto. 💡 At the pivotal point of Base 3, symbolized by the "X" on the chart and situated at $25,700, Bitcoin is poised for a potential doubling in the shortest timeframe. This pattern's hallmark is its staircase-like formation, creating short-term price range bases before catapulting to new highs, repeating the cycle multiple times in its ascent. I've conducted a detailed analysis using Fibonacci tools and Elliott Waves, projecting Base 4's estimated range between the $60,000 resistance and $46,700 support. Additionally, considering Fibonacci extensions and channels, the SELL POINT for the parabolic move is anticipated at range between $149,175 and $181,267.00 This parabolic curve, reminiscent of a rocket's trajectory, can endure for weeks or even months. However, caution is warranted as the pattern nears completion. The culmination of the rapid upward momentum often concludes abruptly, plunging in price even faster than its ascent.
Long
by ArShevelev
20
PEPE → The end of the correction may take us back to an uptrend BINANCE:PEPEUSDT - the meme coin is showing signs of a possible end to the correction and a return of price to the bullish trend continuation phase. On the local timeframe, the price forms an exit beyond the resistance of the descending channel, characteristic of the correction against the background of the bullish trend. Against the background of bitcoin capitulation and the general mass of altcoins, the meme coin PEPE looks quite cheerful. The price can move into the phase of the 5th wave realization if the bulls can keep the defense above 0.0000114. The next boundary is the range resistance. The breakout of this area will be a green traffic light signal for the buyers, the potential of which could strengthen the price towards ATH Resistance levels: 0.0000125 Support levels: 0.0000114, 0.00001084 I expect that the bulls will do their job and will soon be able to bring the price to the nearest resistance, where a fierce struggle for further space between buyers and sellers may take place. Regards R. Linda!
Long
by RLinda
7