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Bitcoin Possible Reversal Zone - Confirmation Below Zone NeededTrader, Bitcoin (BTCUSD) consolidated for some time and then showed a little strength. This strength can be deceiving just to create all time highs and completed an extended W pattern which usually is a bearish pattern if confirmed. This is not the right time to buy BTC1! as it is close to the reversal FCP zone and a psychological 70K round number. Better place to buy will be when it falls for a correction. This however can be a good set up to short if we get a confirmation below the zone on at least daily basis. Due to hype, it is better to get a confirmation on rather weekly basis. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
CME:BTC1!Short
by vikinsa
8
btc 12-8 update ~morning btc is sitting down here in the local golden zone after a 3 wave move down; currently at the bottom end of this little channel we've created the other day. our indicator looks decent for a little push up, but i think it'll be short lived. my upside target on this little swing will sit just above 53k, which will be a very high area of liquidity for shorts, as well as a vortex of confluence as talked about in yesterdays post. ---- wave C target = $53,482
by notoriousbids
8
btc 11\22 updatemorning, looking at btc miners, and the current wave setup + taking into account the cme futures max pain on december 31st which sits at 46k, i'm going to conclude my theory of this expanded flat scenario into the primary wave 4 going down to the low 30k's into jan \ february to fill the cme gap before we see any new highs on btc. i'm bearish until we get there, and will short every single pop. 100% bullish after we complete this expanded flat. i could very well be wrong about this, but i have to stick to my intuition on this one. ps. i made a video going over this scenario last week on my youtube channel, feel free to check it out if this theory catches your interest. 🥂
CME:BTC1!Short
by notoriousbids
4
Technical analysis update: BTCUSD (20th October 2021)BTCUSD reached new all time high today as Bitcoin ETF reached over 1 bn. USD in AUM within just two days since it started trading. We previously noted if new all time high was reached then it would force us to change our stance from bearish to bullish. We also noted that we expected price to continue rise in case of breakout above previous all time high. We continue to think that more upside awaits BTCUSD. However, we think investors should be cautious. Volume keeps decreasing while price reaches new highs and several indicators are overvalued which suggest that price should correct. Because of that we think it would be smart to wait for any pullback before entering long position in the market. Bitcoin currently provides interesting setup with possible long entry above short-term support or short entry below short-term support. Technical analysis RSI is extremely overvalued and we expect it to reverse soon. We expect such occurence to be accompanied by selling pressure. Stochastic remains bullish altogether with MACD. ADX contains high value which suggests that trend is strong or near its peak. We expect volatility of BTC to stay elevated in short-term. Support and resistance Short-term support coincides with previous all time high of 64 895.22 USD. Support 1 appears at 59 603 USD and Support 2 at 52 956.47 USD. Closest psychological resistance lies at 70 000 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
28
Technical analysis update: BTCUSD (15th October 2021)BTCUSD trades slightly below 60 000 USD pricetag. We will observe whether it manages to break above this price level and stay there. It would be particularly bullish for BTCUSD and in such scenario we would expect BTCUSD to try new all time high. However, there are several indicators that reached overbought condition already. Therefore, we are very cautious. Technical analysis Stochastic is bullish. MACD is also bullish. Trend continues to be bullish, however, RSI reached overbought condition which suggests that price might experience correction soon. Support and resistance Short-term support sits at 59 603 USD. Support 1 appears at 52 956 USD and Support 2 at 48 834 USD. Support 3 sits at 39 573 USD while major support lies at 28 600 USD. Major resistance coincides with all time high at 64 895 USD. Previous thought from 6th October 2021: Here we noted that we changed stance from neutral to bullish. Previous thought from 4th October 2021: Here we presented interesting and very clear setup for BTCUSD. After that price bursted into bullish direction. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
7
Technical analysis update: BTCUSD (6th October 2021)BTCUSD surprised us with its abrupt move up. We have changed our stance from neutral to bullish. We will observe whether short-term support at 52 956.47 USD will hold in case of a selling pressure (if short-term support is broken we will question whether this recent move is a bull trap). However, we have to note that while very bullish breakout above previous peak has taken place today we remain very cautious due to condition of several technical indicators. We will also look for second divergence forming on hourly time frame which would suggest that price rise is losing steam. Technical analysis RSI is bullish and nears overbought level. We will observe whether RSI manages to penetrate 70 points mark while we expect this to be accompanied by further price rise. However, we have to say that such phenomenon is often accompanied by peak in price and thus we remain cautious. MACD crossed into bullish zone and continues to build bullish structure. DM+ and DM- suggest bullish trend is prevailing at the moment. ADX continues to reset from previous trend and thus becoming neutral in value. Support and resistance Short-term support sits at 52 956.47 USD. Closest support below that is at 48344 USD. Another two support levels can be found at 39 573.21 USD and at 37 300 USD. Major support level is at recent low of 28 600 USD. Closest resistance appears at 59 603 USD and major resistance sits at all time high of 64 895.22 USD. Here is our previous thought from 4th October 2021: Here we noted that we were sceptical of recent price move up but we layed out two possible scenarios for setup that was taking place. Price has penetrated resistance at 48 834 USD and moved into bullish territory. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
11
Technical analysis update: BTCUSD (1st October 2021)Overnight BTCUSD jumped 10% up leaving many investors perplexed. We noted in our previous idea that we changed our stance to neutral. We think if price fails to break above resistance near 49 000 USD then downtrend will resume. In our opinion this area is very attractive for short re-entry if one took profits on a way down. But we think such position should be accompanied with tight stops due to rising volatility in BTC. Our stance is neutral (to bearish if resistance manages to hold further rise of price). Technical analysis On daily time frame RSI and Stochastic reversed to the upside. MACD is striving to turn bullish as well. ADX is declining with suggests that prevailing trend is losing momentum. However, hourly time frame is in extremely overbought condition. Because of that we are very sceptical of overnight rise. Support and resistance We are closely watching mentioned 49 000 USD price level as short-term resistance appears slightly below it. Next resistance sits around 53 000 USD and 60 000 USD respectively. Then major resistance sits at all time high near 65 000 USD. We also watch short-term support near 39 500 USD. Another support below that appears close to 37 500 USD. BTC1! (Bitcoin continuous futures) We also observe gap visible in the futures market as we think of it as important level. Breakout to the downside from this area would suggest that downtrend resumed. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
8