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Btccorrection

BTCUSD, Are we going to face 35% Correction ?!If we take a look at previous 2 notable cycles we easily notice similarities. From these 2, 2022-2024 looks more similar to 2016-2017, as long as we had - Breakout of downtrend line. ✅ Reaccumulation zone. ✅ Testing major bear market impulse (Which in all cases became strong resistance). ✅ What we didn't experience is correction after these 3 moves. In 2016 it was around 40% (Tested reaccumulation zone) In 2019 it was around 53% (Tested major support / resistance zone). As long as current market structure somewhat repeats 2016 move, have possibility to retest top of after trend line breakout reaccumulation zone, which sits around 33-32k. Percentage wise it's around 35% from ETF top and 23% from current price. What you think ?
CRYPTO:BTCUSDShort
by Zazuna
2
BTC Reversal Anyday Now!!?BTC is still pushing down with big bearish pressure, we are currently sitting at 33.5K and i personally believe a reversal is in sight anyday now for Bitcoin! I am looking at our current area all the way down to the 30K mark where a reversal could be likely, 30K is a strong and established level that is also held up by the underlying 1 FIB at 28.6K. We have current downtrend support which was resistance coming from our ATH so we got a stronger level here aswell, we don't want to see a break below here and especially not below 30k, personally i think the 28.6k 1 FIB level will be the final level before reversal if we did see a push that far. Checking out the RSI we are very oversold and we have been for a little bit now, this usually gives hope of a reversal coming soon. We will definitely have levels of resistance to break along the way back to the upside but the most important thing is regaining that midline, if we do we can confirm a new uptrend and if we don't well you guys know, confirmed downtrend until we do. Now looking at the mean reversion channel, first thing that we notice is the yellow and red bands, this represents very oversold, just like we see with the RSI, now if you go back in time and check out the dips we had into this oversold band you will notice that we rebounded very strongly out of this area, now this could be a matter of time of course, sometimes we spend multiple days in this zone and other times we just spend a couple days in here but overall at some point we have to reverse. Ultimately we should be looking at a comeback to the mean, which is the yellow line in the middle around 52.6K, at some point price tends to revert back to its mean over a gradual timeframe. Like i said before i believe we are in the final stages of this massive flush, we either have a short period left of downside or we are going to reverse very soon, both ways this provides very nice entries and buying opportunities that i am taking advantage of! Not financial advice just my opinion!
BITSTAMP:BTCUSD
by JacobR905
Bitcoin (BTC) - November 22Hello? Welcome, traders. If you "follow", you can always get new information quickly. Please also click "Like". Have a nice day. ------------------------------------- (XBTUSD 1W Chart) - Mid-Long-Term Perspective Above the 27650.0-29350.0 section: The upward trend is expected to continue. Above 47010.0 point: Expected to create a new wave. As the green width of the OBV in the volume indicator increases, it is necessary to check if there is an upward movement in the center line. On the wRSI_SR indicator, we need to see if the RS line can hold above 80 until the SR line rises above 80. In the CCI-RC indicator, it is necessary to check whether the CCI line can be maintained above the +100 point. In particular, it is necessary to check whether the flow can be seen rising above the EMA line. However, the same movement as in section A may occur, so it is recommended to check that there is an upward movement. However, as it is a 1W chart, it is reflected too late, so we need to make sure that the price stays above the 58464.0 point. If it goes down in section a, it is expected to touch the uptrend line passing through section b. In fact, I think that's unlikely. Please refer to the explanation of the Market Cap chart for the reason. (1D chart) First resistance section: 60811.0-63634.5 Second resistance section: near the 72104.0 point First support section: near 55164.5 point Second support section: 46695.0-49518.0 We need to see if we can sustain the price by moving up to the first resistance zone. If the price fails to hold in the first resistance zone and goes down, it is expected to touch the second support zone. However, if the USDT and USDC charts continue their uptrend, the coin market is expected to continue the uptrend, so I think the downtrend is likely to be short-term. Rather than how far the price will fall or how far will it rise, it is better to check where the average purchase price of the assets you own belongs to and whether there is a way to lower the average purchase price and increase the number of holdings. I think it's important. A short-term Stop Loss is required if the first resistance section is unsupported and falls. These short-term Stop Loss should be made from a short-term perspective. Also, it will be a new buying point. You should see if the red width of the OBV in the volume indicator is decreasing. A shift from the red width to the green width is expected to increase the buying force. On the wRSI_SR indicator, we need to see if the RS line can rise above 80 points. If the RS line rises above the 80 point and is maintained, the BTC price is expected to maintain an uptrend. On the CCI-RC indicator, we need to see if the CCI line can rise above the +100 point and the EMA line. If the CCI line is maintained in the range of -100 to +100, I think it is highly likely that the BTC price will gradually undergo a price correction. The next volatility period is around December 3rd. (ETHUSDT 1D Chart) It is believed that ETH has led the rise of the coin market since October 28th. In this flow, for BTC to lead the rise of the coin market again, the BTC price must rise above the 66059.5 point (based on the XBTUSD chart). It is necessary to check if the dominance of the coin market shifts from ETH to BTC due to the volatility between around November 15-24 (up to November 14-25). An important point on the ETH chart is the 4220.37 point. The decline from the 4220.37 point, I believe, is encouraging a concomitant decline in BTC price. However, it is necessary to check whether these movements are converted into rapid movements in the section 3582.10-3885.52. ---------------------------------- (BTCUSDTPERP 1D Chart) First resistance section: 62697.4-65574.9 Second resistance section: near point 74207.2 First support section: near 56942.5 point Second support section: near the 48310.2-51187.6 point We need to see if we can move up above the 60042.8 point and follow the uptrend line. As you get closer to the 54987.2-56942.5 section, you need to check whether there is a sharp movement. The sharp move should see if we can move towards the first resistance area between 24-30 Nov. The next volatility period is around November 29 (up to November 24-30). ------------------------------------ (Market Cap Chart) You should see how the flow of money changes rather than changes in the price chart. So, you should check the trend of USDT chart and USDC chart. When the prices of BTC and ETH fall, funds are rather coming into the coin market. A harbinger of a transition to a downtrend in the coin market - BTC price drop - BTC Dominance Rise - USDT dominance rise In that sense BTC Dominance (BTC,D): Should rise above the 47.64-48.81 section. USDT Dominance (USDT.D): It should rise above 3.374 points. A phenomenon that can be seen as a change in the coin market to a downtrend - USDT Chart: Falling below 58.376B - USDC Chart: Falling below 23.858B - BTC.D chart: rise above 56.78 points - USDT.D chart: rise above 4.158 point BTC and ETH are taking turns leading to an upward trend in the coin market. As I said in my previous post, we need to see if we can lead the upward trend from ETH-led to BTC-led during this period of volatility. ----------------------------------------------------- (XBTUSD 1M Chart) - Big Trend All patterns and waves can be known when they are completed, so it is best to conduct a trade that matches your average unit price rather than a trade based on prediction. Looking at the big picture, I think 4-5 waves are going on. Depending on how you interpret section A, the wave may be different. Likewise, you need to be more careful in your trading, because the parts that have not yet been created may have the same flow as the A section. The expected ascent section is near the 80574.0-83397.0 section. This is an estimated value considering the fluctuation range that has risen from the 1st section to the 2nd section. There are two large resistance zones to move up to the expected zone. The two large resistance sections are section a and section b. If it fails to break through section a upward, I think it can represent the same flow as section A. If it rises above the 72104.0 point with this rise, it is expected that it will not fall below the 26K-29K section (maximum 21K section) even if a bear market continues. If the 38K section is touched, it is expected to lead to a sharp rise. ------------------------------------------ We recommend that you trade with your average unit price. This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden. The center of all trading starts with the average unit price at which you start trading. If you ignore this, you may be trading in the wrong direction. Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator moves accordingly as price and volume move. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The MRHAB-O and MRHAB-B indicators used in the chart are indicators of our channel that have not yet been released. (Since it was not disclosed, you can use this chart without any restrictions by sharing this chart and copying and pasting the indicators.) ** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator. Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line) ** The OBV indicator was re-created by applying the formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) ---------------------------------
BITMEX:BTCUSD.P
by readCrypto
1
Where will BTC end up? | Market outlookThe BTC/USD pair grows supported by two key fundamental factors: the potential integration of the Twitter coin as a means of payment for Tip Jar and the official launch of BTC as legal tender in El Salvador on September 7. The wider distribution of cryptocurrencies in the world and the stabilization and development of the main competitor to "digital gold" – ETH coins – contribute to the adoption of digital assets by an increasing number of investors. Due to the positive news, BTC now trading around 52K where the price may stop while large buyers are closing profitable positions. To renew new highs, traders are likely to need new liquidity, the search for which a correction will help. It's recommended to to open new long positions on the correction around 45-42K
COINBASE:BTCUSDShort
by DCFX-TA
1
BTC Bottomed out?? we saw a huge correction across the entire crypto market today, and even a week ago we had a smaller correction. I think corrections can vary in timeframes from a short one to a longer one like we are seeing now over the course of a week. We almost perfectly bounced off the 0.6 FIB level or 30K and now have recovered even above the 0.5 FIB/ 38K. These are both very strong levels and i would really like to see a close tonight above 38K. For the first time since March 2020 we are actually in the oversold zone of the RSI, we should be able to get some momentum back soon. 1 other thing that we need to do is regain the 200 day MA, this is very very key guys remember that, if we don't get back above the 200 day (purple) MA we could see some more downside. Not financial advice it is really difficult to say where we are headed but with the technical standpoint i say we recover. No one knows for sure but that is the most likely move, Just my opinion!
BITSTAMP:BTCUSDLong
by JacobR905
BTCUSD - Bitcoin Elliott Wave ForecastHello Bitcoiners, If you're still holding BTC, stay strong, we may have a recovery phase soon before breaking out. Key points - Fibonacci Extension level was tested twice and buyers came in, possible signs of bottom. - Next Fibonacci Extension level is acting as resistance now, once we cross ~46K, short sellers will probably not take chances to be greedy. - Stock Market Vix index has calm down, even though it rose little bit it didn't rise enough to be scary. - BTC fanboys and Elon Musk needs to cool off, don't get personal with Elon, it'll hurt BTC, remember he hasn't sold his BTC and he still maintains he's a crypto bull. Happy Trading.
BITSTAMP:BTCUSDLong
by ActorBay
BTC/USDT - optimistic 29% setupHello, Traders! At the moment, the market has the strongest correction movement during the current Bitcoin rally. The asset lost 35% from its maximum and 29% from the local peak. The market is under constant selling pressure, which is restrained by the liquidity buffer of buyers in the range of $41600-$44200. The RSI indicator value on the daily timeframe is at the outsold zone entry. We must understand that the sellers' pressure will not be infinite and after the market supply (sales) will be satisfied, then follow shortage of supply, which will create a demand for the asset (activation of buyers). Entry to buy can be sought in the range of $42 600 - $44 200 Stop-loss shall be placed under $39800 Bounce targets will be : $47200 $49700 $52400 $55000 Good luck and watch out for the market! P.S. This is an educational analysis that shall not be considered financial advice
BITSTAMP:BTCUSDLong
by UnknownUnicorn10064030
2
Very important close for Bitcoin!Bitcoin and the whole market has seen a pretty major dip recently and now we're looking at a potential close underneath of our 0.2 FIB Level! If we do see a close below here BTC might drag itself and the market down further. Something to definitely watch is the RSI, This is very very important, If we don't see a recovery above the 50. point and drag down further we will be in a confirmed downtrend and this would be very bearish for the whole market, not necessarily for a long time we could just see another correction which I consider healthy in this type of cycle. Our EMA ribbons are squeezing together and beginning to point down slightly, the key for these is to watch for that flip of the bands from green ontop to on the bottom (bearish). We could be seeing some bearish momentum. The Zero Lag MACD is important aswell we see that our Red MACD Lead is starting to curve upwards but nothing is certain right now, same with our currently bearish MA's, we will need to see a full flip to blue ontop to have a confirmed upswing. A possible scenario for this is we could be seeing the market as of now and bitcoin going onna bit of a correction but if BTC dominance falls along with BTC like it has been we would really be seeing the start of the altseason BOOM! If this plays out After the correction happens BTC will stay pretty stagnent and Altcoins will go absolutely insane! This is a very possible scenario as it has been the case in the past cycles, so for sure keep an eye on it. Not financial advice just my opinion!
BITSTAMP:BTCUSDLong
by JacobR905
BTC/USDT - Potential replay of the February scenario - 22% setupHello, Traders! The buyers failed to break through the resistance level at $63700 and active sellers entered the market. In the range of $57600 - $59600, the price met a strong seller's reaction, after which the buyers made an attempt to stop the selling and continue the upward movement. The buyers' efforts were not enough and the sellers began to dominate the market producing a fall towards the range of $47,000-$48,000. At the moment, the buyers are holding the sales in the control zone at $47200-$49700. The price is testing the MA100 on the daily timeframe. The RSI indicator value on the daily timeframe is near the 30 level, showing that the asset is oversold. There was a similar situation in February this year when Bitcoin lost 26% in price. Despite the fear in the market, the global trend is upward, the price value of BTC is in the gap from MA200 on the daily timeframe. Therefore, it is possible to try to continue working from the purchases. We may open the position in the range of $48700 - $49700 Stop-loss can be set under $45200 Target price levels will be $52400 $55000 $57600 $59600 Good luck and watch out for the market. P.S. This is an educational analysis that shall not be considered as the financial advice
BITSTAMP:BTCUSDLong
by UnknownUnicorn10064030
Buy Bitcoin; Just Not Right Now! Let The Bears Eat.Based on Elliott Wave analysis and what's determined to be the most likely outcome for Wave 4, I suspect that we're currently in the 1st of 3 phases for the total completion of the Wave 4 correction. Typically, a primary Wave 4 will retrace down towards the zone of the previous sub-wave 4 (aka Wave 4 of primary Wave 3). In Bitcoin's case, Wave 4 of Primary 3 is near or slightly under $40K. With Primary Wave 2 being a sharp correction, Wave 4 will be what's called a 'sideways' type of move. As in, the correction takes plenty of time and does not make sudden, descending moves; not at all once anyway. A flat correction consists of a 3-3-5 wave sequence. We're likely in the first 3 wave sequence with (A) being a running flat. Should B wave not break the highest point of Wave A, we can fully expect more correction down to the C Wave target range, near or directly below $40K. Stay woke :)
BITFINEX:BTCUSDShort
by DigitalSurfTrading
7