Get started

Btcbullish

Is Bitcoin due one final test before true uptrend resumes?Disclaimer: Not financial advice just my humble opinion, please do your own research before investing your money. Let's go. INTRO The main idea behind the Wyckoff Accumulation or Reaccumulation let's call it WAR for short is for "Smart money" (SM) or massive financial powerhouses to absorb the asset from "Dumb Money" (DM) or Small amateur investors (you and me). So how can us simple folks outsmart the big guns, we can learn their play book. Now the main mechanism behind the WAR is to maximize selling from DM so that SM can absorb it. The dumps at the bottom of the trading range are all from DM's panic selling. CHART OVERVIEW If we look at volume we can see their has been a drop off in selling supply from the first dump on the 19th.May.21 to the second dump on the 22nd.June.21, this represents a 42% drop in volume, however volume still remains high, if we look back in January 2021 we can see there were three significant dumps in the WAR at that time, the first was a 43% drop in volume (very similar to what we've just experienced) and the last was a 62% drop in volume (from the first dump). ANALYSIS The final test of the bottom is usually a low volume drop because this represents selling exhaustion, that most of the DM that would sell have finally sold, at this point the WAR reaches it's end point and price breaks through from it's manufactured box. CONCLUSION There's a 50% retracement from the upthrust to the second dump that occurred on the January 2021 WAR (See chart); this could be the point we see a final, low volume dump (lower than the first dump but higher than the second dump) before we take off skywards. What do you guys think? Please leave your comments below, appreciate you guys taking the time to read this.
Long
by cmpkpersonal
Is Bitcoin bullish right now?Hi Guys QUICK DISCLAIMER First off please do your own research before trading/investing, this is not professional advice. Let's crack on. CHART OVERVIEW Here is a weekly chart of the Bitcoin price (BTC/USDT); we are right now at this resting point, in the chart you'll see two Gann boxes placed side by side. The first Gann box extends from the major low to the major high, the second is copied and placed next to the box from the major low and high, creating one massive Gann box. There are many lines (support and resistance) but Gann expressed the 45 degree angle to be the most important line. I've placed two purple lines representing the two 45 degree angles, these can act as support and resistance depending on the price action. Also there are retracement points I have set in green, the .375 and .5 are Gann retracements and the .382 is a Fib. retracement. ANALYSIS *The 45 degree angles According to Gann the 45 degree angle is a perfect balance between price and time, price likes to gravitate towards this area. The further the price is above the ascending 45 degree angle the stronger the uptrend but also less sustainable the further away it climbs, the lower the price drops below 45 degree angle the stronger the downtrend but also less sustainable the lower it drops. You can see that we are at this "tipping point" caught between these two 45 degree angles, we have touched and pushed above the top ascending 45d. angle on 4 occasions but have failed to convincingly close above it. *The retracement points The 0.5 is a significant retracement point and you can see that this has given us major support, in fact in the last 4 week candles we have closed above it. This support will be very hard to break convincingly, we have dropped below but the support has remained firmly intact. The retracement points above (.375 and .382) show strong confluence with previous price action. Judging by past price we can see that once these levels were broken, together with the 45d. angle, the bullish momentum continued. CONCLUSSION In my opinion we are in a massive re-accumulation zone or "shakeout zone". These are purposely designed to take the asset away from the public and into the hands of the big players pulling the strings of this specific episode. This current week could be the final major "grab" before the major uptrend continues, I expect one last short shakeout (potentially next week) around 40k before we recontinue the bullish uptrend. This is a very bullish scenario and could very well be incorrect, especially time-wise as this could last a few weeks or even months, however if you believe in the fundamental value of bitcoin then the current price action is a distorted reflection of the true intrinsic value of Bitcoin and therefore must be broken. Would love to hear your thoughts and comments! Thank you for taking the time to read this!
Long
by cmpkpersonal
4
BTCUSDT Bearish Trendline 100%As per my analysis, BTC going same as I told you. It's time of market correction. And, it is the last stage of this. BTC will go down upto $19k. Next three five days most important because, in this five days BTC drop down up to $31K. After five days, I'll told your further in detail. These is my last analysis same as I told : June 12 Analysis (for detail visit profile and see my previous analysis on btc) June 04 Analysis (for detail visit profile and see my previous analysis on btc)
by Azeemazzi
6
BTC finally testing the 200 SMA BTC Bulls are Back! $74,647 🎯BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below. Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
2
Will the Bull Season Continue?Bitcoin made a serious correction, I'm glad. The price remained above the EMA50 over the week period. In this collapse, the price touched its upward trend; March 2020, October 2020 and May 2021. The price came in an uptrend 7 months apart. With this logic, it will rise towards the end of the year and will seek support from the rising trend again in December. If the bull season ends, I think it may be the result of the upward trend break at the end of the year. The price is currently around $36000 and moving up. There is significant resistance at $ 40,500. It would be nice if it closes above $ 40,500 weekly. Then we will continue with $50,000, $59,000, $70,000, $89,000 and $122,000. My Bitcoin target is 122,000 dollars at the end of the year.
Long
by KriptoneumAnaliz
🚀No Free LunchDid you hate the market crash this week? Don't blame Elon, either China or JPMorgan. The market was overheated, and newcomers needed to learn the most important lesson of investing. Nothing comes easy, and there is no free lunch. Those who survived this sharp price drop carefully managed their risk, maybe with a stop loss in place. But the best tip to get by the volatility of the market is to stay focused and stick with your original plan. Looking at the past for similar patterns may also be helpful. History never repeats but often rhymes. Bitcoin went through the same path last year, between July and September (shown at the bottom of the chart). A long sideways market anticipated a severe price correction that led to another month of price consolidation before picking up again with higher confidence. Patterns like these show clearly how the demand and supply of an asset redistribute around key levels. As a reminder, once Bitcoin broke above the previous high at $12,000, its price skyrocketed 250% in three months. If the same scenario unfolds, Altcoin may have a further upside for a while before Bitcoin gathers investors' and traders' full attention. Remember to manage the risk carefully until more signs of strength show up. A missed profit is worth more than a realized loss!
Long
by Coinrule
3
BTCUSDT Analysis UpdateHi, traders! Today we will tell you about the Bitcoin and give you our point of view with regards of this token. Well, we still bullish. We still believe that BTC is able to push the limits more and more and show the world the power of crypto. So, let’s go beyond words. Not so long ago Tesla sold 10% of the company’s BNC deposit. Some people found as an act of fear of Musk. However, let’s dig deeper. 10% is considered to be very small part of their BTC deposit. Moreover, we find it a way to gain money fast, because they need them to report to investors. As you see market has showed no reaction on it. Let’s have a look on the chart. At the first sight it seems to be choppy. However, we see a great support levels of previous price action demonstrated by Fiba Retracement levels and EMA. Thus, we are sure that probability of further growth is extremely high. Here are some scenarios of probable price action. Scenario A Short-term consolidation between 0.382 and 0.5 Fibonacci levels and further growth with mid-term consolidation in “golden pocket” (between 0.5 and 0.618 Fibonacci levels) with break out over the 0.618 and even higher. Scenario B Bears will have a small win and the price will go down to 0.382 and lower. On these levels lots of alerts are pointed, that’s why the price will anyway reject from these levels and pump. DISCLAMER : Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
BTC pro analysis without biasI do my best to look at every chart in a neutral stance. I hope you find my analysis true to that. By triangulating 2 spirals on wave patterns, 2 trends, and 2 PI circles (1 SRC PI cannot be shown due to clutter of chart) These are the high probabilities. The market will fall to the spiral and bounce up back into bull cycle, or it will make a decline to one of the 2 markers at about 49k or the last wave low at about 51.5k. Good news for the bulls as no matter the case, things are sure to be turning around, or turn around within 4 days maximum. these are dual scenarios for bull also incorporating the possibility of a little bear market within the next 2-4 days as a likely maximum bracket for return and this is great news for bulls. The low target fall is about 49k and it will look to climb immediately- this target may or may not transpire, however if it does, it will be very quick in all likelihood after penetrating the bottom of the spiral shown in chart. We have 2 paths shown labeled A and B. 'A' path seems steep, yet it shows it as a possibility. 'B' path looks more realistic and has a higher probability for a 100k target. We also have 2 respective dates in May and June where wave cycle allows in perfection to reach 100k by using the wave compass. *The above shouldn't be taken as financial advice* If this diagnosis serves you well, I take donations. Thanks and happy trading! <3
BITSTAMP:BTCUSDLong
by micdot7
28