Bitcoin is bullish HTF, but short TF correction inevitable
BTC closed last week above July weekly swing close 🔥 Multiple RSI on Month TF also shows bullishness, similar to what it had on March 2023 (after that BTC started it's bull run for ~278%). This chart is bullish, so whatever I write about pullbacks/dips, remember - I mean short term price action that is for buying.
Bitcoin dips to 65500-66500 and bounce back fast should be taken as a fast bullish scenario. That would allow to add more to longs in both BTC and alts. The zone for potential wicks is around 63.5-64.5k - not sure how high are the chances for such a dip, but since it will surely bring panic to the market, it is absolutely possible.
Btc-bitcoin
BTCUSDT short using proprietary multi-timeframe trend detectionBTC has rejected the short term trend (13D EMA) yesterday and again today on the H1 time frame. For the coming hours it will be quite interesting to gauge wether we see a reclaim of the H1 200D EMA or not.
We've had a candle close below it and look to be targeting 65.5k - 64.7k in the short term. Would be a great zone to look for swing longs into new highs in my opinion.
Entry: 66874
SL: 68007
TP: 64736
Short term I'd like to see the H4 close back below 66k for relative confidence that this leg is well underway. Will look to move the SL into BE when that happens.
$BTC - Key Resistance at 68.3k Late shorters are getting squeezed!
We got a deviation at ltf range low and a buy/long signal (green arrow) from our vwap indicator.
Weekly Equilibrium (wEQ) 68.3k remains to be a key resistance.
If CRYPTOCAP:BTC can hold Monday Low (monL) 66.8k, I'm expecting a retest of 68.5k (wEQ)
Any rejection we get at this level, we could see a move down to 62k region (mPOC)
$BTC Closed Outside 250D Range - PREPARE 4 BLAST OFF14 days until the next Rate Cut, and the following day is the Presidential election 🇺🇸
CRYPTOCAP:BTC just closed its Weekly Chart outside a 250 Day accumulation range.
You’ll never see $60k Bitcoin again.
You should be FULLY deployed by now.
Spot Only.
NO LEVERAGE.
Don’t be a trader.
Sit on your hands the next 12 months and just follow the charts for indicators on when to sell and the TL for euphoria.
CRYPTOCAP:USDT.D should be your main focus on when to exit the market completely.
BTCUSD hit the 1hour MA200. New rally if it holds.Bitcoin / BTCUSD hit the 1hour MA200 on today's strong correction.
So far it is holding and is on the 5th candle in a row of support.
As long as it holds, it is a bullish signal and can give a rally similar to the last 1hour MA200 hold (October 13th) or the one before (October 10th).
The 1hour RSI also got oversold and is rebounding. It crossed above its MA, a bullish signal.
Buy and target 71000 (+6.70% at least).
Previous chart:
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ETHEREUM SHORT TO $786!I still remain bearish on ETHUSD. This bear market will be further supported by the U.S. elections as Donald Trump comes into power & artificially strengthens the U.S. Dollar, which'll in turn push down Crypto.
🔴5 Wave Bullish Move Complete.
🔴Wave A & B Correction Complete.
🔴Minor Wave 3 Of Major Wave C Correction Yet Pending.
And from here WE PUMP!Total3, which tracks the market cap of all altcoins excluding BTC and ETH, is flashing strong signals that it's gearing up for another leg up within the next 1-3 days. Currently, the altcoin market cap is sitting at $625 billion, but projections indicate we could see it rise to $680 billion, adding an estimated $50-70 billion of fresh capital into the altcoin space.
This influx of capital could be a catalyst for significant price action across the board. Historically, when Total3 breaks to the upside, we see explosive moves in many altcoins. Smaller market cap coins could potentially surge 2-5x as liquidity flows into them, with traders seeking high-risk, high-reward opportunities. Meanwhile, larger altcoins and top-tier projects are likely to continue their upward trajectory, hitting key targets and executing their projected moves with ease.
For traders and investors, this upcoming wave could present a unique opportunity to ride the next big altcoin cycle. The altcoin market is poised for a boost, and understanding how to navigate this surge could be key to maximizing gains. Keep a close eye on price movements and be ready to act quickly as the market could move rapidly once the breakout occurs. This is a moment that could define the next phase of the bull cycle, with the potential for life-changing returns if timed correctly.
Be sure to manage your risk, follow your strategy, and stay updated as we approach this crucial moment in the altcoin market!
Getting Started with Forex Prop Trading: Intro Guide🔸Forex prop trading (short for foreign exchange proprietary trading) refers to a trading model where traders use capital provided by a proprietary trading firm to trade in the Forex (foreign exchange) market. Unlike traditional retail trading, where traders use their own funds, prop traders operate with the firm's capital, typically after passing a series of evaluations to prove their trading skills and risk management abilities. In return, the firm takes a percentage of the profits generated by the trader.
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Prop firms offer substantial capital to skilled traders, allowing them to trade with much larger account sizes than they might be able to on their own. For example, a trader might be funded with anywhere from $10,000 to $1,000,000 or more, depending on their experience and the firm's offerings.
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Most prop firms require traders to pass an evaluation or assessment phase before providing access to live capital. This involves trading on a demo account and meeting specific performance metrics like profit targets, drawdown limits, and risk management rules. If the trader successfully passes this phase, they are then given access to a live account with the firm's capital.
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Once a trader is funded, they enter into a profit-sharing agreement with the firm. Typically, the trader receives a percentage of the profits, often around 70-90%, while the firm keeps the rest as compensation for providing the capital and infrastructure. For example, if a trader makes $10,000 in profits and their profit split is 80/20, they would keep $8,000 while the firm takes $2,000.
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Prop firms are very strict about risk management because they are providing their own capital. They impose limits on the maximum drawdown (the amount a trader can lose), daily loss limits, and leverage. If these rules are violated, traders risk losing their funded status.
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Most prop firms charge traders an initial fee to cover the evaluation process. This fee can range from a few hundred to a couple of thousand dollars, depending on the account size. In many cases, this fee is refundable if the trader successfully completes the evaluation.
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Strict Rules: If traders fail to adhere to the firm's rules (such as daily loss limits or maximum drawdown), they can lose their funded account.
Pressure to Perform: Trading with someone else’s capital can create pressure, which can affect trading decisions and lead to mistakes if not handled well.
🔸Bot Algo Trading in Forex
Algorithmic trading (algo trading) involves using pre-programmed instructions (algorithms) that can automatically execute trades in the Forex market based on specific conditions. These conditions can be price, volume, time, or other market indicators. Algo trading has become increasingly popular in the Forex market due to its ability to:
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A bot algo expert is typically a professional who specializes in developing and optimizing trading algorithms (bots) for Forex markets. They possess skills in coding, often using languages like Python, MQL4/5 (MetaQuotes Language), and other programming languages tailored to financial markets.
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I see a bullish flag pattern in #BitcoinGet ready for a bullish rally in #Bitcoin (Weekly timeframe). Soon, this rally will start with the complete departure from the upper edge of the flag. The alligator indicator also shows us good conditions for buying this very important crypto. Buy some of this crypto every week.
BTC Diamond FormationMost everything is in the chart for now and anyone knows if BTC will push down 1 more time before a big rally or go up straight.
we can see that we could form a Diamond Figure (Pink) to 0.618fibo
i don't show indicators but i can say :
Monthly chart show clearly that we are still going down.
Weekly chart have indecision on indicators.
Daily chart have inverted indicators.
we have 3 clear resistances formed by EMAS to breakout :
EMA 50 ---- 7200
EMA 100 ---- 7600
EMA 200 ---- 8000
possibilities after breakout :
1. we could fly to 9000 (DIamond Finished + 0.618 FIBO )
2. we could fly to 8400
possibilities with Rejection :
3. we could retrace one more time to 3700 before a new push. ( Traditional Support )
My advice for now is to wait as spectator and wait for a dip or a breakout.
Happy Tr4Ding & Stay Safe !
BTC CME GAP- CME and cryptocurrency ETFs are important, but in different ways :
- The CME is more influential in terms of institutional trading, price discovery, and market structure, while ETFs play a crucial role in making cryptocurrencies accessible to a broader range of investors and driving market adoption.
- Don't focus on ETFs, they are still young and small in BTC/ETH market ( around 5% ).
- Chicago Mercantile Exchange are older.
- Wealthy investors are in BTC from 2017.
- This Gap have to be taken soon or later.
PS : the green line is EMA200
Happy Tr4Ding !
BTC TreysBTC to 33k for various reasons.
1. Since the beginning of Bitcoin, historical data shows BTC does yearly ATH and ATL's. What's interesting the pattern; every year since 2011 we have seen a correction of 60%-80% retracement from the ATH (followed by exponential gains) with the exception of 2024 which we have only seen a 20% retracement. 60-80% retracement for 2024 should put us at (BTC) 15k-30k.
2. Supreme Court grants US Government permission to sell (auction) 69k worth of BTC from Silk Road Case after legal win. Even if they do not sell, this will create a panic and fear and cause others to short therefore helping the price reach our target.
3. Monthly timeframe:
we can see ineverted head and shoulder pattern at the bottom between 2022 and 2024 never retested. This is the key to our target as it is slightly above the 60% retracement from last ATH.
BTC falling is also supported by the rejection/resistance on the Monthly supply zone which never broke and actually held pretty well.
Pattern wise I can see a double top pretty much formed, closing above neckline and retesting the high (bull trap) so in my books this is ready for a sell.
Candle wise we had a bearish engulfing followed by the retest of the high I just spoke about. However price failed to close above; still bearish.
4. Weekly timeframe:
Pattern - clear bearish pattern anyway you want to look at it; triple top, head and shoulder or double top.
Candle - beautiful price action, same as monthly with a bearish engulfing and retest of the high eventually closing under the neckline of bearish engulfing pattern.
SPOILER:
Bitcoin Roadmap!!!==>>Falling!!!Bitcoin ( BINANCE:BTCUSDT )is currently hovering near the Resistance zone($70,080-$68,250) , Potential Reversal Zone(PRZ) , the Upper line of the Ascending Channel , and Important Resistance lines(Bitcoin is attacking important resistance lines for the fifth time.) .
According to Elliott's wave theory, Bitcoin seems to be completing the main wave 5 . The structure of the main wave 5 can be Ending Diagonal .
Also, Regular Divergence (RD-) between Consecutive Peaks .
I expect Bitcoin to fail again on the 5th attack to the important resistance lines , and to break the lower line of the descending channel and decline to at least the first target on my chart. We should expect more Bitcoin dumps if Bitcoin loses the Support zone($66,500-$64,480) .
⚠️Note: Tension between Iran and Israel could increase in the coming days, causing a sharp drop in Bitcoin.⚠️
⚠️Note: Open interest in futures markets has reached its highest level in 2024, while Volume Trading has decreased.⚠️
⚠️Note: If Bitcoin can break the Resistance zone($70,080-$68,250) and Resistance lines, we should wait for a new All-Time High(ATH) for Bitcoin.⚠️
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
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Took some $BITX off the table, $BTC leveraged ETF.Why did we take "take" some AMEX:BITX off the table???
For years this area has been tough, CRYPTOCAP:BTC , as seen on chart.
Also, it's at the top part of downtrend.
If #BTC sees some weakness & the STOCK doesn't get called away we keep the premium & life goes on.
If it does, it's okay, we made an extra $1 compared to selling outright.
#Bitcoin
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