Bitcoin Update 29/03/22: Short-term Swing Opportunity 65% GainBitcoin on the way to low 80s 🚀 Bitcoin is currently 66% away from the 127.20 fib target @ $79,381. Strong buy Signals on the daily chart from both the Swing Call script for trend direction and the Bull market indicator for short-medium term trades based on momentum...going to be an interesting April/May remember to take profits on the way up! 🚀 Please see previous analysis below. Happy Trading :)
Bitcoin Update 26/01/22: Bitcoin ( BTC ) potential bull trap, bouncing 15% before the FED announcement, currently BTC is -45% gain from the ATH reached in November 2021. We currently are in a downtrend, BTC has recovered fast before and we could get the same here. The current RSI on the weekly is close to that of the March 2020 crash (which was a little lower than the current level)..patience will be key, wait for confirmation & price action, large volume back in the market will be key for confirmation of a reversal of the current trend. The FED will be deciding whether they will be hiking the current interest rates, and whether the current quantitative easing will continue or if they will be quantitative tightening. I believe we have not yet reached full capitulation and the $32K level will be very key before finding a true bottom. See previous analysis below. Happy Trading :)
Bitcoin Update 19/ 01 /22: BTC Death Cross on 14th January 2022, currently BTC is 63% away from the all time high price @ $69,004. A final capitulation may be in play before we can finally start climbing back up with a steady upward trend direction towards the previous ATH and the $79k target at the 127.20% fibonacci level. It is important to highlight that this final capitulation could occur at any time as long as there is high volume to confirm the bottom for us, a true bottom before a full trend reversal back to the ATH . One of the main aspects of the key capitulation from Dec 2018, March 2020 & May 2021 is that this has always signalled the bottom and the start of a new upward trend for BTC and alt-coins alike.
Bitcoin ( BTC ) on the daily chart is showing strong signs of an oversold market and is currently sitting just above a key support level at $40k, currently priced @ $41k. If the $40k level fails to hold as support BTC is on its way back down to retest the 23.60% at $39,694 which is currently -6% from the current price level. This current downward trend we are experiencing may lead to another consolidation period similar to that after the May crash where we saw BTC struggling to get past the 23.60% fibs 3 times consecutively during a 3 month period before finally breaking out in early August. Our AI script signalled a strong Buy Signal on the 28th July confirming the start of the last bull run phase which saw Bitcoin setting a new ATH just under $70K, a 1671% gain for BTC from the March 13th 2020 Bottom @ $3.8k.
As mentioned previously during the last year we believe the current cycle we are experiencing is something we have never experienced before (extended super cycle to foster the adoption cycle), old cycles have been broke and it is important to look at new information and data to better understand where we are going in terms of innovation. Technically, looking at the current structure of Bitcoin , we have a head and shoulders pattern, if this pattern plays out, which in a downtrend could see BTC below the bottom experienced in May. *Note this is just technically speaking, when looking at the market and on-chain analysis we can see that they are less and less Bitcoins available on exchanges, that coupled with the current inflation crisis & ongoing money printing are very strong fundamentals signals which are very bullish on the price of Bitcoin . 2022 promises to be yet another explosive year for the industry and like experienced in the past before, during these times you can really sniper in some great discounts for the next leg up 🎯
Btclongsetup
BTC/USD SHORT TERM!!!The price in general is extremely bullish
I will be discussing the different situations of the price starting in the monthly time frame all the way down to daily
Monthly
The price is in the process of creating a new higher high. The price base in the monthly can easily reach the 75000. If you take the fibonacci from the low of the correction to the hight. You will see that the -0.272 is exactly on 75000. We price can easily reach that target.
Weekly
The price broke above monthly structure. Also , the price is creating higher highs and higher lows. We can definitely expect more continuation to the up side.
Daily
We have an impulse and correction. If we take the fibonacci from the low of the impulse to the high of the impulse we can see that the price is respecting .618 fibonacci level. The price can easily reach in short term 70,829.
Targets
short term:70,829
long term: 75,000
We can easily see the price reaching this targets. Remembers this is for educational purposes only.
Thank you for the support
BTC. Laying the plan out for the long trade!Greetings traders! It looks like there is a good case for BTC to have finished it's initial run up from the support zone around $40k. Whilst I do have another count that has us only at sub-wave 3 of the 1st wave, the balance of evidence points to the first wave completed. Now we can look for the wave 2 pullback and getting set for the true rally that should take us a lot further than the current ATH's! Plan your trade and trade the plan! Good luck!
BTC/USDTBINANCE:BTCUSDT
Friends who intend to enter, I must say that after the defeat
You can see the blue line that I considered as the ceiling
Enter by following the stop loss and after defeating this
Price resistance can fall and if with strength
You could break it for a pullback on the price of 37120
Count to the Fibonacci level
BTC longTrade idea
BTC 1H ABCD pattern.
Pattern takes us to 28138.76. Can go down to 25977.75
Expect support at the 1.272 because it is next to the 2.618 of a larger butterfly pattern and just below strong support at 30k.
Can set stop loss below 1.618 for high risk as technically the ABCD pattern can take us down to here. Can set just below the 2.618 for low risk.
If all levels break then expect next support near 22k.
Targets would be B, C, and A points.
This is just an idea and not financial advice.