Bitcoin At Key Support But Very Weak!Bitcoin finally hit 25.3K very close to the Fibonacci golden picket which is 25.1 but I dont think the sell is over, We might see a touch at 24.8 before any meaninful upward move to maybe 27K.
Btcprice
BITCOIN Next Days/Weeks Happy Thursday Traders & Investors
Let's look at a couple of likely scenarios for Bitcoin and the key levels to keep an eye on:
Option A:
Bitcoin lays right on the riffled support line of the current downtrend, and could bounce to test the area around 28.500$ where the downtrend resistance lays in confluence with some major Fib. Levels of different retracements from the highs and lows of the overall uptrend.
A brake above that key resistance area would likely take #BTC to retest the uptrend support and bring new highs in the range between 34-35.000$
On the other hand, a rejection in the 28.5k area would take #Bitcoin back down to a crytical level where Bulls will want to see Bitcoin forming a higher low on the overall uptrend, ideally above the dotted trendline which is also supported by some important Fib. levels and the riffled support line of the current downtrend at around 25.000$
Option B:
If the bears take control and brake below the current riffled downtrend support line, we could see Bitcoin dropping straight down to about 23.800$ and the previously mentioned uptrend support in confluence with crytical Fib. Levels where Bitcoin will need to find a bounce in order to avoid a drop all the way down to the range of 22-21.500$
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys!
Happy Trading ✌🧡📈
Bitcoin 23/5 '23Hello Everyone,
Straigth to the business,
Right now, we in High Uncertainty market conditions,
related to Macro economy optics for Future..
with Several Big events in upcoming day which could provide
more Clarity into where market would like to move
BUT as Right Now..
Price is Lower then it was when Peaked mid March..
In that Time, we was Held in few Week consolidation, before we seen expansion.
Matter of Fact, it Holds Under that Purple line
which can be seen as Bottom of Sidewas range from March.
Because of that and above, I would favourite opening Short in this moment,
and expecting that next Expansion will be on Downside,
with sound Stop Loss above 25-35% of March sideways range.
( around 28k$ - depending on your own Risk Managment)
Having in Mind, that if Price is Able to Break above and Close there for
at least Few Days, it May be very possible to see Highier Price range upcoming Month(s) .
Joe
Will Bitcoin Crash or Blast Off? Watch This Video to Find Out! Bitcoin is forming a bear flag pattern right now, which indicates a potential continuation of the downtrend. However, there is also a strong support zone at the 25.1 Fibonacci retracement level which can bounce back up
If bitcoin can break above the flag resistance, it could rally to the 29K level, where there is a major down trend line that acted only as resistance
if bitcoin breaks below the flag support, it could drop to the 24.4 level, From there, it could bounce back to the 25.1 level and retest it as resistance
Bitcoin Came Down To 25.7K! Expect More Dump Or A Pull Back ?Bitcoin Went Down to 25.7 and bounced back up.These bounces usually have another leg down aiming to hit Longers StopLoss,If the SL hunt happens 25.1 could come.Otherwise we could retrace to ~26.3 then go to 28K supply zone( combined with our bold whiteline)
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Bitcoin Wants 28.8! Will the 3 wave pattern playout?Bitcoin Swept the lows yesterday and reached out target 26.8! I am not yet convinced that we are going lower WITHOUT sweeping the high ~28.8 ( our supply zone) so today with PPI data we could see the move coming.
SPX yet has to fill the upper gap, it could touch it today and that will get btc to our target as well then SPX could start bleeding till it gets to the lower gap
NQ1 Has bearish Div all over the place.And Ive talked about how to determind a supply or demand zone.
3 wave pattern = Dump,Pump,Dump . the first dump happend and we are wating for the two next move.
Thanks for all your support- means a lot to me.
BTC Facing Huge Sell Off This week.24.8K This week Is ImminentBitcoin touched 29K four times and we could tell big money is interested at that level because each time we touched that level big sell off happens.
I have incorporated Supply/Demand Into todays video . very interesting concept that has been playing out in the range that we are in (27.2-29k)
highly encourage you to watch this untill the end
Once we lose 26.8 then 24.8 will come
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Thank you for all the support and thanks again for watching.
Bitcoin Remains Below 30K: Is It a Buying Opportunity or a Trap?Bitcoin trying to breakout of 30K and goes into 31-32K.we could see a decoupling happeing between SPX and BTC.
If BTC loses 29K again then loses 26.8K we could say we are not going to 31K if not there is a slight possibility for us to reach there before a major move to the downside.
SPX at a key support level as same as NQ1
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BTC Analysis:What's Behind the Recent Drop and What to ExpectBitcoin Stopped at our pink trend line holding the bullish trend (27671).
it could bounce here to fill the FVG or it could consolidate and drop again to 24.8 on NY market open
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I have also shown a new tool.
Losing 24.8K could result in a capitulation.
Thank for watching
BTCUSDT Price PredictionAs we can see on the 4h chart a down spike that overshot the upper bollinger band has been followed by a deep correction which failed to reach the upper bollinger band.
A second sell off is expected to test the low of the spike and/or the lower bollinger band.
A conservative and safe target could be the level of structure along the way which has been shown by the yellow rectangle.
BTCUSDT Price PredictionAs we can see BTCUSDT on 4h timeframe has formed head and shoulders pattern with an impulsive break of its neckline.
A retest of the neckline and the structure level shown can be expected before a second leg down.
The target has been indicated via the arrow and dotted line.
BTC price $26K - $34K BTC broke out of the accumulation and showed an aggressive way up. This was to be expected.
Now I see three scenarios:
1. A further compression and reaching the range of 32-34 thousands, from which the sales can go and put BTC into accumulation, gain strength and continue moving up with the targets ~$40k.
2. A retest of the breakout level, where BTC showed growth and also formed an imbalance, somewhere near the end of the week (followed by a quick redemption).
3. Weakness of the buyer, uncertainty of the market, and everyone's favorite FUD. Unsuccessful upward breakout, leaving below $28.5k will confirm a (short-term) deep correction.
Incoming Drop Off on $BTCContinuing to test previous levels without getting a new high, as well as seeing several altcoins topping off & failing to pass resistance. Looking for correction & more collection of the moving averages under the price before continuing higher. Possibly consolidating within the lower portion of this channel and moving up, as marked. Also possible is just an all out flip to the downside of the channel, with it extending further out.
#Bitcoin next stop $32K It looks very nice, it is worth waiting for the POi test and to get a good reaction to keep moving up.
BTC $26K - $32KCame in POi but did not hit the order block, I do not rule out a test of this zone. So far the work is exclusively for long positions
Bitcoin is in a bull marketAccording to our free indicator, Fetch Trends, Bitcoin is in a bull market.
The weekly candle turned green for the first time in 60 weeks.
The last time this happened was in may 2019, kicking off the bull market of 2019-2021.
Before that one, Bitcoin turned green in Octobre 2015, which was at the start of the bull market of 2015- end of 2017. The first green candle was also found after 60 weeks.
Ofcourse this isn't the only reason why I believe Bitcoin is in a bull market. I've given my other reasons in previous posts.
Bitcoin Double Top or will fill the gap ?Bitcoin/4H trying to leave our rising broadening wedge pattern aiming for 28500 or 29300 before it crashes down.
Today we have two important news (Perlium UoM) that might shake the market.
Liquidity wise we have around 200M around ~24000 but to the upside is clear and can push it very easily
Thanks for all the support
Details in video
Important Event Today - Bitcoin Ready To Move On Both sidesBitcoin/4H In a bear flag pattern with low volume
With the pattern and volume bitcoin is doing tells us that a BIG move is comin which potentially we could touch the origin of the dump which is around 23.6 consolidate and build more longs , then K-Boom goes down around 20500 ( top of the CME gap)
A less potential move is because of more shorts we could legdown a little bit first ~ 22k or 21.7 then it goes all the way back up to 23.6 which in this case the upside should be very intense due to the liquidity to the upside
Reminder: As a Trader We should always have levels on both side so we dont miss any moves
Bitcoin wants it higher but bears dontBitcoin\1H consolidating after breaking the down wards parallel channel and making a new extreme to the upside ~23.6.It could go up to ~24.1 where a big liquidity cluster is and come back down after that.
**Next stop for bitcoin could be around 20500 where the CME Gap is**
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We yet have to see a flood down to around 20K or even 19K. With SPX testing the biggest resistant line as a support ,today after a retest it will lose it and flood down thus btc will follow .
BTC Bull Run 1.22-6.57% 02 14 2023If you love the spot-on analysis done so far, please boost, share, comment, and follow for more.
This strategy is also used Live by Green Lion Capital Social Trading on Zignaly.
As projected earlier, the market experienced a reversal after accumulating enough volume for liquidation. I anticipate that the market will witness another bull run to attract more volume this time since many investors believe that we are gearing up for a major bull run as we did not break the $21k-20k zone. However, this is not the case, and based on current market metrics, the ideal target is $23,500.
For this chart, the estimated entry zone roof is $22,056, and there is a potential upward movement of roughly 6% with a +/-1% tolerance. Confirmations have been made on the 5 minutes chart, 3 minutes chart, and through a private chart.
*** Disclaimer: a second non-public chart layout was used to officially confirm this oversold point.
Safe points to take profit:
T1: 1.22%
T2: 2.86%
T3: 4.82%
T4: 6.57%
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT, ETHUSDT, BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP, moving averages, and Fib charts.
Chart Count: 8
3min chart confirmation: white MA crossing up yellow while above lowed dotted white line.
5min chart confirmation: vwap greater than lower dotted white line while with three candle confirmations above the white ma.
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
