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Btcanalysis

Bitcoin and 🚩Symmetrical Triangle🚩Hi everyone👋( I hope you had a great weekend ). As you know, trading volume is low on Saturdays and Sundays (generally). After breaking the 🟢 support zone($29,850-$29,480) 🟢, Bitcoin has started to form a Symmetrical Triangle Pattern this weekend. 📚The Symmetrical Triangle , which can also be referred to as a coil, usually forms during a trend as a Continuation Pattern . The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended, and the symmetrical triangle takes shape.📚 💡It is interesting to note that when Bitcoin hits the upper line of the symmetrical triangle pattern, the Volume of Trading is higher than when Bitcoin hits the lower line of the symmetrical triangle pattern. This happen shows us pressure of sellers is high. 🔔I expect Bitcoin to move towards the 🟢 support zone($28,450-$28,080) 🟢 ⚠️ after ⚠️ breaking the lower line of the symmetrical triangle . -------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Congressman Patrick McHenry: Bitcoin is a “Financial Revolution.” Robert Kennedy Jr. reveals buying 2 Bitcoin for each of his 7 children. 🌐➖ Negative News ➖🌐: A new law requiring USA citizens to report Cryptocurrency transactions above $10,000 is one step closer to being approved. -------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
64
BTC Pump Incoming?!?!With recent news of SEC telling Coinbase to halt ALT coin trading except BTC im thinking a BTC dominated pump is incoming as recent news lines up perfectly with BTC daily chart aswell as BTC Dom chart We can see that BTC Dom HTF's Daily and weekly are faily bottomed and look ready for a move up. While at the same time BTC daily chart is bottomed aswell and been stretching this range out which the timing of CB vs SEC couldnt of come at a more perfect time.. coincidence ? maybe or maybe not ;) hint hint.... (Phycology and reverse phycology are just as important as TA) - 1st key area to look for as BTC potential pump incoming 0.5 FIB ATH to Nov low + bottom on MS 32,675 - 32,990 - 2nd area to watch for Daily swing june 15-july 13 1st upside FIB target 34,0458 - 3rd area to watch for Red Line - current trend line were under Purple box = market structure at 35,880 Fib line 35,687 - 4th area to watch for Daily swing june 15-july 13 2nd upside FIB target + CME gap 37,163 - 37,684 - 5th area to watch for Weekly Swing Nov 21- July 13 1st upside FIB 38,671 and 0.618 FIB 38,978 from ATH to recent Nov low Definitely watch areas 1,3,4 for top out struggle bus areas I myself personally am thinking 35,687 with possible wick up on HTF to 37,684 for that CME gap as top but we will see as retail panic buying can cause one major pump or vice versa
INDEX:BTCUSD
by Wen2TradeOfficial
2
Beware of Relying on Dollar Price Moves to Predict Bitcoin's FutThe inverse relationship between the US dollar and Bitcoin has long been a reliable indicator for traders seeking to gauge the potential movement of the cryptocurrency market. Historically, when the dollar strengthened, Bitcoin tended to experience a decline, and vice versa. This relationship allowed us to make informed decisions and manage our portfolios effectively. However, it is essential to recognize that the dynamics of this correlation have started to shift, posing potential risks to our trading strategies. Over the past months, we have witnessed instances where the US dollar has weakened while Bitcoin continued to soar to new heights. This decoupling of the two assets challenges the reliability of the inverse correlation we have grown accustomed to. While it is tempting to continue relying on this relationship, doing so mindlessly may lead us astray and result in significant losses. Therefore, I strongly urge you to exercise caution and refrain from using dollar price moves to indicate Bitcoin's future direction. Instead, let us analyze the underlying factors that drive the cryptocurrency market, such as market sentiment, regulatory changes, technological advancements, and institutional adoption. By adopting a more holistic approach to our trading strategies, we can better position ourselves to successfully navigate the evolving landscape of digital currencies. In light of these developments, I encourage you to diversify your sources of information and stay updated with the latest market news and expert opinions. Engage in meaningful discussions with fellow traders, share insights, and challenge conventional wisdom. By fostering a community that embraces critical thinking and adaptability, we can collectively navigate the uncertainties of this ever-changing market. Remember, the cryptocurrency market is highly volatile and subject to various external influences. Relying solely on the inverse correlation between the US dollar and Bitcoin is no longer reliable. Let us be vigilant, open-minded, and proactive in our approach to trading. If you have any questions or concerns, please do not hesitate to comment. Together, we can navigate these challenging times and adapt our trading strategies to ensure long-term success.
TVC:DXY
by bryandowningqln
BTC to 41K Before Cool OffBTC On the Weekly time Frame. BTC has been in a strong Elliot 5 Wave Impulse Move since the start of 2023. Analyzing the Fibonacci Retracement of the first pull back (wave 2) which occurred in March of this year, we can see an almost perfect touch at the .618 level before wave 3 ensued. In Keeping with the laws of Fibonacci, Wave 3 was the most violent (so far) and ended at the 1.618 Fibonacci Extension - roughly 31KUSD per Bitcoin. Again further validating that this is a text book Elliot 5 Wave Impulse move, wave 3 was followed by a slow, drawn out Wave 4 which consolidated in a falling wedge formation and respected the top of Wave 1 before making a less violent but still respectable move back to 31K (our most recent push up). Now standing in the face of Cryptos greatest resistance level to ever exist, I am expecting further consolidation before eventually breaking 31K and stopping at our next and final Fibonacci Extension, the 2.618; Completing the 5th wave of this Macro Move. Once the target is achieved I anticipate that we will move into an ABC correction and Retrace back to Roughly 25K. Why 25K? When analyzing the structure as one move, a Fibonacci Retracement Tool can be pulled from the Bear Market Bottom, to the 2.618 Level. The .618 Retracement for this entire move lands Bitcoin roughly at 25KUSD per Bitcoin. This technical analysis is to price scale but not time scale. I cannot predict when 41K will be achieved and when 25K will be achieved. If this move plays out this will be the perfect set up as the first leg up into the new Bull Market. the pull back to 25K will be the last time to buy before new ATHs (with the exception of a black swan event of course). I have been tracking this move since March, since my related Ideas.
COINBASE:BTCUSDLong
by AlexSpicer94
2