Btcshortsetup
Elliot Formation Inside An Ascending Wedge The BTC price has increased significantly since reaching a low on March 13. The increase has taken the form of an ascending wedge, which is considered a bearish reversal pattern.
It is possible that the price continues to trade inside this wedge until it reaches the next resistance level at $7750. If so, we can outline a five wave Elliott formation that would take the price all the way to this resistance line. The price is currently at the top of the third wave, after which a decrease towards the support line is expected. Afterwards, the price is likely to create the final upward move before breaking down. This possibility is supported by the slight bearish divergence that has been developing in the RSI, which is even more visible in short-term time-frames.
If the price breaks down, the closest support areas are found at $6700 and $5800.
THIS IS WHERE I SHORT THE PONZIIf i go by the previous few times, BTC shouldn't survive over this range.
BTC.DCleaned up the BTC.D chart, as I feel now that bitcoin dominance is in a consolidation phase along side BTC price action. The D1 BTC.D chart has a falling wedge that is right below the 200 ema.
I am almost 99% certain it will break up leading to another pump in dom & price of bitcoin.
68% will most likely take a few attempts B4 finally failing as BTC breaks up along with dom & heading towards the 200 ema weekly chart.
There is some room for downside here to $5,500 level but thats really all I see and will probably be a great buy for a TP of $9600 next major area of resistance.
$btc short unless we get some good newsrising wedges usually break down, for now least target is ....2500-3000
I'm sorry bitcoin I thought u where the one.....I will not be entering this short blind. will be waiting to see an hourly rejection of 6k before jumping in,.
I'ts very important to see whats going to happen at 6k, that's the liquidity pool to shake off shorters and early bulls, a fib level, and a big round number. That's a good amount of confluence. Painful to short something I love so much...im sorry bitcoin please don't hate me...maybe later when the economy stops collapsing we can get back together
Bitcoin at CRITICAL resistance level!We are now at a major resistance for BTC. This is the level which held for months while BTC ran up from 14k and began its drop in June. This is a very important level to break. If we are unable to break it then I believe we have completed this EW count and will start another ABC down to 8500-8600 (estimate).
BTC SHORT TRADEGive a like, if you want to get notification, when i post an update on trade
* RSI confirmed breakout of important trend line from beginning of pump
* on last leg up volume was lower
* BTC forming descending triangle
* momentum is good
Target 1: 8820 close 20%
Target 2: 8680 close 20%
Target 3: 8580 close 20%
Target 4: 8460 close 20%
Contact me for my discord, where I share more calls
BTC/USD SHORT SET UP TO $7,000/ AT $7,000 GO LONG TO $10,480Sell BTC/USD
Entry 1 8680
Entry 2 8568
Sl 8900
Tp.1 8,180
Tp.2 7,775
Tp.3 7,520
Tp.4 7,186
BTC/USD’s ability to remain above the 7473.42 area will be closely scrutinised by traders intent on assessing the sustainability of the recent move, as this area represents the 23.6% retracement of the 10540.49 – 6526.00 range. Likewise, a move back above the 8059.54 area will be seen as a bullish development as this represents the 38.2% retracement of the same range. Below current price activity, traders anticipate Bids around the 7597, 7473, 7313, and 7117 areas. Above current price activity, traders anticipate Offers around the 8177, 8340, 8585, and 8799 areas.
ONCE SHORT ends
BUY limit set up
entry 1 $7,080
entry 2 $ 6,680
sl 6300
Tp.1 7,600
Tp.2 8,100
Tp.3 8,600
Tp.4 9,600
Tp.5 10,240
BTC getting weak, downside to 5300-6000 based on candlesticksBTC has been on a solid downtrend over the past 6 months, ever since the top out just shy of the $14,000 level BTC has been creating lower highs and lower lows and looks to continue based on the technical analysis.
In order for BTC to break the downside trend it has to break above the previous impulse start of the downtrend and hold it as support, which means breaking above 8000 and holding the 7500-7600 level as support. This is not the case.
So far the cryptocurrency printed a double top at the 7500 area and a recent lower high with extended bear candle wicks holding some downside pressure. From here we have to see a break below 7000 into the end of this week on strong volume. The ultimate level to break is 6700 in order for price to create a lower low.
Disclaimer: This idea is for educational purposes only, this does not constitute trading or investment advice. TRADEPRO Academy is not responsible for any market activity.
BTC PRICE VOLUME ANALYSIS BY MR.WIZARDThis chart looks bearish, because it sure doesnt look bullish. There is very little bullish volume on the bounce with the lower support, there is very strong volume right after the bounce which is always a sign of a upcoming breakout, then we have some lower highs followed by lower lows, but it is respecting a Resistance coming from the previouse bounce, a lower time frame channel, we see very recently a very big upper tweezer with wick with strong volume indicating bearish, this is going to keep falling.
- MRWIZARD -
possible short entry in bitcoinif BTC/USD closes under $7187 we could possibly see a 17% drop to $6134
Sorry HODLRS
Is bitcoin ready for another drop?Btc is in another bearish rising wedge and also at resistance of bigger bullish falling wedge, which i doubt it will break, so im getting into another short
BTC is NOT in a bullish flagWe are no longer in a bullish flag. Since the last post it has changed.
This structure is showing these 2 road maps.
If that impulse broke ABOVE 10,000 with a close on daily... then YES it would be a bullish flag...but it didn't!
Wait for price to get to spike. then begin looking for your "patterns."
You're welcome.
Marked it with the eyes.
BITCOIN DAILY ANALYSIS - BEARS IN CONTROL?Hey traders,
Bitcoin has retested the descending triangle pattern it formed the last couple of months.
Bulls failed to push the price higher, and now price is consolidating.
I have labeled an area of S/R where if bears can push price past this level, wait for the retrace to go short.
In my previous analysis Bulls made a strong move off of S/R. However Bears seem to be in control now.
As always you have to trade what you see, and price is struggling to push up right now.
Daily trade analysis and ideas:
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Bitcoin still in a dead zone, I am not tradingey guys, I think am going to use this page us my trading journal and put content whenever there’s something going on.
Going back to the chart, it’s really boring here and we are still lacking clear signs of an upcoming movement. With that being said, I am still out of trades and wait for better signals.
Some people say that BTC is bottoming – Well, maybe they are right but who knows. I stick to the rule that if I don’t see clear picture to open a position I am just an observer. No position is still a position.
Happy trading !
BTC Breached: Are you scared?Called Sell Pressure last Month or so, check Link to Related Ideas which I Published
BTC Breached 9400 down to 8100 then to 7400
Could Bound back to 8700 in the short term, with a continue sell pressure, this week.
However, Volume Weighted Moving Average (20) 8874.99 Sell for 1H
Hull Moving Average (9) 8022.11 Sell for 15Min
Worst case: 6700-5800
Don't be afraid, in life we have to fall in order for our max potential to be intact
Bitcoin Long Looking for a pullback or consolidation in the current region on the 1 hr to take my buy set up.
Reason: daily is green 4 hr is green as well. iam seeing alot of v formations so I kno the buyers and sellers have equal power and the market is getting ready to make a turn.
we need to take out the 10500 10600 region to test up to 11k
Nailed BTC Top - Short continuation of C Wave 30% DROP!Take a look at the charts for better direction. on the 4h chart we have lots of indecision happening. With one hour left on the closing of the candle, it can go both ways. There is hanging man fighting the bears for its life.
This can go both ways, I am not shorting here just yet, however I see a high probability that we are going to zig zag down to my final target. If it breaks down to my first target down, I will open my short. For now play safe & keep an eye out for this crazy monster.
My tops and bottom indicator has signal the end of the up movement.
Happy trading & stay safu!
