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BTC trendlines to watchPlease 1st of all smash the boost 🚀 button to support my work if you like it! It's absolutely for free. I would expect ₿itcoin to move between the lines inside the rising wedge at least for a while. The wedge upper edge should act as dynamic resistance, while the lower edge should act as dynamic support. Let see how it goes... 🍿 Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
BITSTAMP:BTCUSD
by bizmark
10
Bitcoin Bull Runs Mapped Out - $250,000 Next Potential TopTaking a look at Bitcoin's price history, I noticed a repeating 9-step pattern that the current price action has been following since it peaked in 2017. The key points to take away from this is that the final point 9 ends around the height of the previous bull run (point 1). If BTC maintains a rate of growth decay (-5.5x its previous run) for its next bull run, Bitcoin has the potential to hit $250,000 which also coincides with the top of the channel. The pattern timeline was following to the previous run precisely up to (point 7 June 2022), but I believe the FTX collapse which caused us to dip below previous channel support (yellow) delayed us some. I think we will have one more leg down if we haven't completed our 9th leg. But once we do, it's off to the races! Let me know your thoughts below. Cheers!
BITSTAMP:BTCUSDLong
by jpbrown1023
Bitcoin - The Price Action Doesn't Reflect the Hype (BEWARE!)This is the second bullish fed announcement we have received within a week and yet, the price is exactly where it was before the first announcement. Having consolidated above $22k for almost 3 weeks now, I would have expected us to be much higher than exactly where we started. To make matters worse, you can see where the price action has not broken out of the blue descending channel yet, and is also now below the previous orange ascending channel. We have a very big bearish Head and Shoulders set up if the price gets rejected to the downside. PROCEED WITH CAUTION: With the news we have received in these last two announcements, I would think we would be much higher than where we are. Not to mention we spiked on the news and were rejected hard at channel resistance. Something doesn't seem right to me. And given the current bearish setup we have before us, be prepared in the event that we move downward and break the neckline around $22,600. I probably won't go long until we solidly break into the channel. I will also be watching the DXY. There's good reason to think it may have a little rally of its own after correcting 14% from it's high in September which would conversely push the DJIA and Bitcoin/crypto down.
by jpbrown1023
4
BITCOIN - Greed Is In the Air With Bearish Signs of ReversalI'm watching the market cautiously at the moment. BTC is up almost 50% since its last low in December without even a 6% correction. We have had 5 consecutive higher highs, but the MACD has conversely made all consecutive lower highs. Taking a look a previous times this has happened in 2022, we had precipitous drops. Volume is also decreasing despite making higher highs. I am not sure how much more this run has left, but the risk reward favors the downside to me. Given the Fed's announcement, there is a lot of excitement in the air. With BTC pumping and holding over $20k for 2 weeks now (on bearish news of increased US regulation on crypto and the Genesis bankruptcy announcement no less), it's seems ripe for a rug pull. $21k is the first support level I would look to see how the bulls respond if we dip. But that is only the .382 Fib retracement level and BTC loves the .618 which would be $19,300. That is quite the correction. This run may hit $25,000, but it may not. Erring on the side of caution and history, I think BTC will likely test $20k-$21k before it moves on to $30k, so I'll be waiting for the correction. Trade cautiously.
COINBASE:BTCUSDShort
by jpbrown1023
BITCOIN - Head and Shoulders Targeting $21000BTC is in a good setup for a head and shoulders to the downside. The head and shoulders is a bearish pattern where the price bounces and returns to the "Neckline" support level the 3 times with the final return resulting in a break of neckline support. How to spot The easiest way to spot a head and shoulders is to find a support level that the price is bouncing off of. Look for a moderate bounce that returns to support followed by a larger bounce that also returns to support. This is the left shoulder, head setup. In this case, you can see a possible right shoulder forming around $23120. This price area has proven to be strong resistance. It has kept the price at bay for weeks now with all breakouts retreating back below it. As a result, it's the perfect set up for a head and shoulders. How to set your target price To determine your target price, measure the distance between the top of the head and the neckline. In this case, $1500. Subtract this amount from the neckline and you will get your target price. Make the bearish case How is the price action looking? Is the price action bearish? Is there a lot of buy or sell volume? By making a bearish case prior to your head and shoulders call, you will have more success in your trades. BTC BEARISH CASE -Broke the red channel -Returned back below strong resistance -Bear flag setup for right shoulder How to Trade Some traders like to enter their short at the top of what they perceive to be the right shoulder. The weaker (lower) the right shoulder in comparison to the left shoulder, the better. This shoulder is still early so its difficult to say whether we've topped yet, but the strong resistance would make me feel better about entering here. Other traders like to enter their short once the price has broken the neckline, which would be a more definite bearish move. Technical patterns are never 100% for certain. However, if you can spot them and trade them in the right circumstances, you will find a lot of success. Best of luck! I hope this helps improve your trading and your PnL!
COINBASE:BTCUSDEducation
by jpbrown1023
1
BTC Head & ShouldersPlease 1st of all click the boost🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free. ₿itcoin broke the yellow uptrendline, backtested it and got rejected. Now it just formed Head and Shoulders 🤷 pattern. IF price definitely breaks the Neckline at 18905 I think there is chance for drop to 12680 and even lower, but I expect some pullback up first. Setting 3 SELL LIMIT orders each at different price, but all the positions will have the same STOPLOSS and same TARGET. Obviously each will have different Reward Risk Ratio (RRR). Zoom in to see the gray Callouts better. ENTRIES : ---------- SELL LIMIT1 @ 19330.00 ---------- SELL LIMIT2 @ 20790.00 ---------- SELL LIMIT3 @ 22200.00 STOPLOSS (SL) : Right Shoulder @ 22781 TARGET (TP) : H&S target projection @ 12680 REWARD RISK RATIO (RRR) : ----------- SELL LIMIT1 - RRR 1.9 ----------- SELL LIMIT2 - RRR 4.0 ----------- SELL LIMIT3 - RRR 16.2 INVALIDATION : when SL level hit Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
BITSTAMP:BTCUSDShort
by bizmark
17
BITCOIN - Using the CCI and RSI Indicators to Predict DumpsThis was a cool trick I learned a while back and I thought I would share. The Commodity Channel Index (CCI) is very similar to the Relative Strength Index (RSI), but the CCI tends to be more sensitive. As a result, the CCI tends to drop when there is weakness in comparison to the RSI and the divergence in the two indicators becomes evident. I've highlighted to previous instances when the CCI dropped significantly in comparison to the RSI. Had you seen this, you could have exited your position and saved yourself a lot of money. The CCI is currently showing a strong bearish divergence to the RSI, which may very well be a foreshadowing of a coming BTC dump. As a result, I'm going to be in USD to be safe until I see the direction the market decides to go. I hope this trick helps you as much as it has helped me.
Education
by jpbrown1023
2
BTCUSD: The bottom is in! 🚀The Indicator Pi Cycle was been very accurate in the past. It has been quite effective in determining tops and bottoms. About Pi Cycle Indikator TOP: It uses the cross of 111 day SMA and 350x2 day SMA. About Pi Cycle Indikator BOTTOM: It uses the cross of 150 day SMA and 471x0.745 day EMA. And the RSI is below 50, which is also a clear bottom signal imo. My recommendation as always: Buy the dips and hodl. 😀 -- Let's see what happens. Happy trading. BTCINVESTING -- -- My Post Apr 17, 2021 "BTCUSD: Whats about PiCycle? A bearish signal?" My Post Dec 15, 2021 "BTCUSD: Difference - Bearish Downtrend | Bullish Accumulation" My Post Apr 15, 2019 (3 year ago!). I was one of the first btw. ;-) --
INDEX:BTCUSDLong
by BTCINVESTING
61
A clearer trading pattern than Satoshi VisionContemplating Bitcoin's next big move I predict that the next significant move will be lower. I have a few reasons for this view, among which are technical, macro and sentiment. The first being the most visual, are the technical patterns which I have highlighted. As Bitcoin has traded rather different in this bear market, I have found that looking for specific support ranges and trend lines hasn't been particularly helpful. The solution I found, that has benefited my trading, is watching the daily moving averages. Combining this with the added benefit of watching the RSI can give a significant edge in timing this uncertain market. Watching the 200 Daily moving average, which had formed a major confirmation signal for this bear market in March 2022. Since then the 200 SMA has become untouchable and therefore not very relevant the last few months. We must focus on the 50 and more importantly the 100 SMA which has formed a barrier like two south poles of a magnet. Looking at the Red circles highlighting some of the major pivot points in Bitcoin's price before heading lower, we can see how the 100 SMA has two types of resistance. The first being when the Candles press against the 100 day before getting rejected. The FTX bankruptcy ruining the chance for a more significant breakout to the upside, highlighted by the purple triangle. The second form of resistance is when Bitcoin's price achieves a break above the 50 SMA but fails to climb towards the 100 SMA. This, in my opinion really shows how fragile and out numbered the market's bulls have been. We are currently seeing the second situation with price action running up rather quickly to the middle of the 50 & 100 SMA but losing momentum. We are seeing such positive prices, mainly due to the related positive price action in traditional markets, such as European and US indices. The S&P 500, being my go to indicator for general market sentiment, is currently entangled with the 50 & 100 SMA and might even have one final push towards the 200 Daily SMA but will be rejected again. This is an almost identical moving average pattern as seen in October 2007 - June 2008. A period before the last bulls woke to smell the coffee. Only to find what smelled a lot like excrement in their collective coffee cups (Portfolios). Assuming with a high degree of certainty, that positive traditional market sentiment is waning. As we enter the first acknowledged year of this Great Inflationary Central Bank Recession, caused by a combination of negative interest rates and a supply chain bullwhip effect even the Russian military's logistic department might have been able to spot. We are going to lose the last bit of positive buying sentiment, likely leading to Bitcoin's next strong rejection lower. When also considering the Yellow circles positioned on the RSI chart at the bottom, we can see a fairly predictable pattern. By watching for when BTC's RSI level for when it nears 60 and above. While combining the SMA pattern described above. We can use this to prepare for the next leg lower. I believe we are witnessing a prime example of this, at the time of writing. Hopefully leading to another similar result over the next few days or weeks. From a macro point of view, Central banks are all engaging on further tightening measures. While Inflation is running rampant and significantly raising prices for all goods, particularly in terms of rental properties, food and living expenses. Aspects that are not proportionally represented in official government reports. Combined with this is wave of lowering company earnings and a swathe of high paying lay offs in the financial, tech and manufacturing sectors. These factors have not been factored into price yet and the likelihood of the Central bankers holding higher rates for these next two years, has not be accounted for. The final aspect in this analysis/rant is the slow selling that has occurred. With each slow rally against the downtrend, each sideways accumulation is being held up by a "Buy the Dip" mentality. Retail is buying the dip the same way as in every bear cycle. The dumbest of funds are buying the dip, when a likely larger 25% sell off is coming down the river to Niagara Falls. This is just one Investor's opinion, best of luck out there. Hope to see you at $12k buying a few Bitcoin too.
BITSTAMP:BTCUSDShort
by FortunaAlgoAnalytics
10
Bitcoin: the most probable scenario 2018-2022, boring but likelyThis is assuming the market psychology is the same now as it was after the 2014 bubble/crash. If the market cycles in bitcoin work like this - bubbles of speculative exuberance followed by crashes and long reversals - then this is what we'll see going forward. And, in all probability, this is the single most likely scenario. It won't be exact but it is the most likely at this point. I saw someone claim that bitcoin has had 9 bubbles in total and i think that's just the way this market works! It's prone to bubbles! So, in all likelihood, this is what we'll see going forward. I've just drawn roughly what happened between 2014-2018 onto the end of where we are now, 2018-2022 There's plenty of space for bitcoin to grow: ETFs, institutional involvement, infrastructure developments, regulation hurdles, and when all of this affects the price, the next wave of retail investors see it going up, get FOMO, and then it gets out of hand and that could easily be the next bubble. It took 3 years from the end of the 2014 bear market to get to the bubble we saw in december 2017. So, i'd advise against predicting 50k by the end of the year. I'd love it, but in all likelihood, it will probably be another 3 years until we see the next top, and that will probably be 250-300k in late 2021/early 2022. Sorry to be slow and boring, i know we all want 20k in the next 2 months but let's be honest, we have to consider the most likely scenarios here and having a huge upwards spike now would be strange. Possible, but not the most likely scenario. I'd also advice AGAINST thinking that the market has bottomed already. It's possible, but that would be a comparatively short bear market. In 2014, it lasted for about a year before it hit the bottom. That means we could well see one more move down to 5k (or a bit less) in around october. It could be over now, and it could be just a very short bear market, but again, that's not the most likely scenario. So be careful not to get too cocky too soon! In short; it's probably best to ignore those that say we're retesting 20k in the next few months. Unfortunately it's likely to be slow and boring for the next year. And the year after that. But if you take your time there's still plenty of opportunity ahead. It's possible that the market has sped up and we've bottomed already and we'll see the next peak earlier, but that will still be at least 2 years away. Dull and uneventful for the next year, but that's how markets work.
BITFINEX:BTCUSDLong
by milobowman
9
can bitcoin reach 400k?hello traders, I haven't seen anyone talk about this subject technically, today I will reveal a maneuver that I have been observing in detail and encouraging me to publish. * This is not a recommendation to buy or sell, but a vision that I have been observing since 2020. I see the possibility of the market playing a C leg (of the abc pattern) inside wave 3, closing the target between 300k to 400k, but it is necessary that the top of the 30k confirm the support, say that ellon musk is looking to buy right? : D NOTE: at the same time, I see the possibility of bitcoin going up to 1.8k in this case I do a complete analysis if you help me reach 500 subscribers on t3L3gram :) I know the graph is polluted, but I put some images below for you to compare;) 1: 2
BITSTAMP:BTCUSDLong
by ftjr20
2
Rising too high, too quickly?Recently, Bitcoin broke above the narrow range we showed in previous articles. Subsequently, it gained bullish momentum, rising to $21 456. Interestingly, the cryptocurrency paused its climb slightly below the resistance at $21 473. If Bitcoin breaks above this level, it will further bolster the bullish case in the short term. However, the inability to break above the resistance might suggest a faltering bullish momentum. Therefore, we will pay close attention to volume levels. To support a bullish case, we want to see a pick-up in volume accompanying a (further) price increase. Contrarily, to support a bearish case, we want to see low volume near high price tags (and then, ideally, a pick-up in volume accompanying a price drop). Overall, the price of Bitcoin is rising too quickly (and too high), which is more reminiscent of the FOMO (fear of missing out) behavior among market participants rather than a genuine primary trend reversal. Due to that, we are very cautious about this recent move and think it is still too premature to call the market bottom. We expect the U.S. earnings season to reveal more underlying economic problems and enforce the notion of the market progressing deeper into recession. As the cryptocurrency market stays highly correlated to the stock market, we expect this to weigh on it down the road. Accordingly, we maintain our price targets for Bitcoin at $15 000 and $13 000 (though, in the short-term, we do not rule out continuation higher). Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD. Bullish volume accompanying the price rise can be seen on a decline, which is worrisome. Technical analysis Daily time frame = Bullish Weekly time frame = Slightly bullish Illustration 1.02 Illustration 1.02 displays the hourly chart of BTCUSD. Volume can be seen dropping near high price tags, casting a sign of weakness. However, low liquidity may allow for volatile movement to either side. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Editors' picks
BITSTAMP:BTCUSD
by Tradersweekly
95
BTCUSD breaks above $19 000; has a new bull market begun?In our last post on Bitcoin, we reiterated our bearish stance (beyond the short-term). However, we also allowed for the possibility of BTCUSD moving higher after breaking above $17 250 (the upper bound of a narrow range). Since then, the volume has seen gradual growth accompanying a price increase of more than 10%. Furthermore, the daily time frame has managed to turn bullish. At the same time, the stock market has been enjoying gains, providing support for the cryptocurrencies, which stay highly correlated to it. As we stated in our last idea, we expect this combination of bullish factors to have no impact on the primary bearish trend. As a result, we will pay close attention to market developments and technical factors (especially volume). We expect earning season in the stock market to reveal more underlying economic problems, eventually leading to lower prices and also affecting cryptocurrencies. Conclusively, we expect the bear market to unravel further in the coming months, taking Bitcoin to new lows. Accordingly, we maintain our price targets at $15 000 and $13 000. *As the answer to the question "has a new bull market begun?" - No, that is very unlikely.* Illustration 1.01 Illustration 1.01 displays the daily chart of BTCUSD and the narrow range formation with the breakout above its upper bound. Green arrows indicate growing volume accompanying an increasing price, which is bullish. However, after the breakout, the price rose approximately 10% (only within three days). We will observe volume (area of interest) and look for a decline, indicating the rally's exhaustion; contrarily, no decline in volume will suggest a continuation of the rally (for the short term.) Technical analysis Daily time frame = Bullish Weekly time frame = Neutral Illustration 1.02 Illustration 1.02 shows the daily chart of BTCUSD and two simple moving averages. The yellow arrow indicates the bullish breakout above the alternative resistance level. Interestingly, SMAs are in a bullish constellation. Although, the recent lack of trend can cause them to produce misleading signals due to whipsaws. Currently, the price is too far from its SMAs, which might foreshadow a retracement. Therefore, we raise a word of caution over the recent move up. Illustration 1.03 Illustration 1.03 portrays the daily chart of BTCUSD and several previous downtrend corrections. As a matter of fact, these corrections often ranged between 20% and 40%, which means the current rally might turn out to be nothing out of the ordinary (only another fake rally). In our opinion, the current price is very attractive for the short position. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
39
Narrative of growing interest in BTC is nonsenseOver the past two months, Bitcoin’s volatility and volume have diminished significantly, which hardly supports the bullish narrative about the growing interest in Bitcoin. At the same time, active addresses holding Bitcoin dropped from 5 165 158 on 7th November 2022 to only 4 585 372 on 26th December 2022 (based on the information obtained from Glassnode), suggesting that people are holding their coins rather than buying more of them. In addition to that, attempts by several countries like Brazil and Nigeria to move closer toward designating cryptocurrencies as legal tender had no impact on the market whatsoever. That brings us to one rudimentary question in the highly speculative market (the one we already asked before) “If everyone is holding their Bitcoin and waiting for the price to go up so they can sell, who will push the market higher?”. This question is very troubling, considering that the global economy is poised to dive deeper into recession in 2023, and average investors are set to run out of savings due to growing prices of consumer goods and services (due to high inflation, which is here to stay). In fact, we expect many of these people to be forced to sell their holdings later. Furthermore, with no stimulus check handed to people from the U.S. government, we do not expect Bitcoin to repeat its success between 2020 and 2021 (at least not so soon, if ever). Contrarily, we expect much more pain for the overall cryptocurrency market and new lows to be formed in Bitcoin within the next month or two. With that said, we will pay close attention to the FED’s narrative and efforts of central banks (globally) to take on their own CBDC (Central bank digital currencies), which may threaten Bitcoin down the road. Accordingly, we stay bearish on the cryptocurrency market and maintain our price targets of 15 000$ and 13 000$. *See attached articles to view our calls since proposing the idea of a double top in November 2021.* Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD and the active setup. Yellow arrows indicate breakouts above and below the narrow range. Technical analysis Daily time frame = Slightly bearish Weekly time frame = Neutral Illustration 1.02 The picture above illustrates the weekly chart of BTCUSD. The red arrow shows declining volume since early November 2022, which hardly supports the bullish narrative and growing interest in Bitcoin. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
54
Bearish breakout, increasing volume, and no capitulation yetBitcoin dropped below the lower bound of the narrow range, bolstering the bearish odds. Simultaneously, volume started to pick up, hinting at increasing selling pressure. In addition to that, the price dropped below 20-day SMA and 50-day SMA; ideally, we would like to see a crossover between these two moving averages, which would further confirm the downtrend. As for our stance, we remain bearish and maintain our price targets at 15 000$ and 13 000$. Our views are based on a combination of technical and fundamental factors. We expect the persistence of tight monetary policy to weigh on the stock market, which is highly correlated with cryptocurrencies. As a result, more stock market weakness will negatively affect Bitcoin and drag it lower over time. This thesis is also supported by the market sentiment, which does not show signs of capitulation. Contrarily, too many market participants still try to catch the bottom and leverage up in this so-called “lifetime” opportunity. However, we think these investors are making their moves prematurely and will likely get washed out in the next wave of selling, enforcing even stronger selling pressure down the road. Furthermore, as if it was not enough, cryptocurrency-related institutions continue to experience issues, opening the question of what company will fall victim to the bear market next. Because of that, we voice a caution to the market participants and dismiss an overly bullish narrative in the cryptocurrency market. Illustration 1.01 Illustration 1.01 displays the daily chart of BTCUSD. Yellow arrows indicate breakouts above and below the narrow range. Technical analysis Daily time frame = Slightly bearish Weekly time frame = Neutral Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
33
BTCEUR 'D' - One Level of Support left Before 30% Cliff EdgeHey guys - There's a few things going on here: We've got a strong Sell signal from Crypto Tipster v2, combined with a descending trend line which the price has touched quite a few times historically and rebounded on the downside each time so far. This combined with several layers of resistance above and only one (albeit quite strong) level of support on the underside could mean the potential for a further fall in Bitcoin price. Seems unlikely, or at least unwanted - but the reality is if this level of support gets broken, there's not to stop the price free-falling 30% or more to around the $10,000 mark. Let's all keep watch on this one! What do you guys think?
Short
by theCrypster
2
BTCUSDT - Wyckoff Method Bottom FinderHi Traders, Investors and Speculators 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫 A quick look at BTCUSDT from a macro perspective. It seems likely that Bitcoin needs to find a lower bottom where the demand zone is strong enough to stabilize the price. Currently, the volatility in the market may seem like it's bullish, but if you zoom out you can clearly see lower highs which is a benchmark for a bearish cycle. The price action is currently trading in the distribution phase of the Wyckoff Method market cycles, and we still need to establish a clear bottom followed by a period of sideways/range trading. This was an earlier proposed bottom for BTC by using the Wyckoff Method: Although my timelines were off, we can clearly see that the price action has not yet entered the final phase of the cycle and is still in a downtrend. Remember, there are lots of other great opportunities in the markets during December that could make for a better trade setup as opposed to BTC. Interested in stock markets? Check out this idea on SPX where I cover Apple Inc. , MSFT and AMZN : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Short
by CryptoCheck-
41