Bitcoin Roadmap!!!Bitcoin started to rise again after Failing(Fake Break) to break the Support zone($58,000-$56,600) .
From the point of view of Classical Technical Analysis , it seems that Bitcoin has formed a Falling Wedge Reversal Pattern , and if the upper line of this pattern breaks, we can expect a further increase in Bitcoin .
From the point of view of Elliott wave theory , Bitcoin's correction waves seem to be continuing. The last corrective wave was the Zigzag Correction(ABC/5-3-5) , which was the end of wave C , $55,600 .
Also, we can see Regular Divergence(RD+) between Consecutive Valleys.
A head and shoulders pattern could form , causing Bitcoin to decline again to nearly $50,000==Two scenarios are possible 👇
I expect Bitcoin to move according to the movements I have outlined in the chart .
Note: If Bitcoin loses the Support zone($58,000-$56,600), we should expect Bitcoin to fall to $51,000(at least).
Bitcoin Analyze (BTCUSDT), 4-hour time frame⏰.
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Btcsignal
BTC Swing Long to 65k & 70kTrade Idea: Bottom for Bitcoin Might Be In
This chart suggests that Bitcoin may have found its bottom, with the potential for a bullish reversal. The following elements highlight this outlook:
1. Liquidity Zones:
- Liquidity/TP1: The chart highlights a take-profit zone (TP1) near the $64,000 level, where liquidity is expected to reside. This is the target area for the long trade.
- Prev. Monthly High: This is noted above the $70,000 level, potentially acting as a higher resistance level and extended target if momentum continues after TP1.
2. Entry Zone:
- The gray shaded area near the $55,000 level represents the entry zone, with liquidity around this price. This suggests that the price may have tapped into an important liquidity pool before starting its upward movement.
- External Liquidity: This region below the current price might have acted as a liquidity sweep, further confirming the bottoming pattern.
3. Fair Value Gap (FVG):
- The chart identifies a FVG (Fair Value Gap) around the $56,000 level, which could act as an area of interest. Price has filled this gap, possibly signaling the completion of its downward move.
4. Market Structure:
- The market appears to have tested lower liquidity levels and rejected them, potentially signaling that a local bottom has been established. The price action shows consolidation in the entry area, indicating accumulation before a potential upward move.
This trade idea would be well-suited for traders anticipating a medium-term bounce after Bitcoin’s recent downward movement.
Bitcoin Analysis==>> Pumping Again==>>Short termBitcoin moved towards the Support zone($58,520-$57,100) as I expected .
Bitcoin is moving in the Support zone($58,520-$57,100) .
According to Elliott's wave theory , Bitcoin seems to have completed another Zigzag corrective wave .
I expect Bitcoin to start rising again from the Fibonacci levels to my targets .
Note: If Bitcoin loses the Support zone($58,520-$57,100), we should expect Bitcoin to fall to $55,000(at least).
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>Bearish Deep Crab Harmonic PatternAs I expected yesterday , Bitcoin went towards filling the CME Gap($61,855-$60,485) , although the structure of the trend was slightly different .
Bitcoin is currently moving near the Resistane zone($62,920-$61,460) , Resistance line , Daily Resistance(2) and 50_SMA(Daily) .
Also, the 🦀 Bearish Deep Crab Harmonic Pattern 🦀 can be formed near the Resistance line and the Resistance zone .
According to Elliott's wave theory , Bitcoin is completing corrective waves after completing five bearish waves .
I expect Bitcoin to drop to at least $59,400 after breaking the Support line , and if this level breaks, we should expect an attack on the Support zone($63,630-$63,200) .
Note: If Bitcoin can break the Resistance zone($62,920-$61,460) again, we should wait for Bitcoin to attack $65,000-$66,000.
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>> Attack to Resistance zoneBitcoin is currently moving near the Support zone($63,630-$63,200) , Support lines and 200_SMA(Daily) .
According to the Elliott wave theory , Bitcoin seems to have completed the correction structure of the Double Three Correction(WXY) .
One sign of Bitcoin's increase is the Hammer Candlestick Pattern with a long shadow, which adds to its validity.
Also, we can see Regular Divergence(RD+) between Consecutive Valleys.
I expect Bitcoin to attack again the Resistance zone($58,500-$57,000) .
Note: Bitcoin can attack the Resistance zone($58,500-$57,000) from around $62,600.
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>> Bearish Flag PatternBitcoin pulled back to the broken Support zone($60,520-$60,120) , as I expected ( in yesterday's post ).
According to Elliott's wave theory , Bitcoin seems to have completed the Zigzag correction(ABC/5-3-5) .
Regarding Classic Technical Analysis , Bitcoin seems to have formed a Bearish Flag Continuation Pattern .
I expect Bitcoin to fall again after breaking the Ascending Channel's lower line and the Support zone($58,500-$57,000) .
Bad News: Since yesterday, 785 million dollars of Bitcoin and 75 million dollars of Bitcoin have been moved by the Mt.Gox exchange, which is a significant volume.
Note: If Bitcoin goes over $60,700, the Scenario will change.
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>>FallingBitcoin was rejected from the Resistance zone($58,500-$57,000) , 50_SMA(Daily) , Upper line of the Ascending channel , and Potential Reversal Zone(PRZ) .
I expect Bitcoin to Go down to at least the lower line of the ascending channel , and maybe Bitcoin will break the support zones .
Note: If Bitcoin goes over $63,000, we should wait for Bitcoin to pump to $65,000 (at least).
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
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Bitcoin Analysis==>> Attack to Downtrend line==>>Short-termBitcoin is moving in the Support zone($58,500-$57,000) near the Downtrend line .
According to the Elliott wave theory , Bitcoin seems to have completed its 5-wave downtrend in the 15-minute time frame .
Also, we can see Regular Divergence(RD+) between Consecutive Valleys .
I expect Bitcoin to rise again to at least $59,200 .
Note: If Bitcoin goes below $57,000, we should wait for Bitcoin to fall to $55,000 (at least).
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>> Breaking Downtrend lineBitcoin is currently moving in the Support zone($58,500-$57,000) and near the Potential Reversal Zone(PRZ) .
I expect Bitcoin to rise to at least the First Target after the Downtrend line breaks .
Note: If Bitcoin goes below $57,000 , we should wait for Bitcoin to fall to $55,000 (at least).
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>> Reversal Patterns==>>(Short term)Bitcoin moved as I expected in the previous post .
Bitcoin is currently moving in the Support zone($60,800-$56,700) and near the Support lines .
In terms of Classic Technical Analysis , Bitcoin seems to have succeeded in forming a Falling Wedge Pattern , and an Inverse head-and-shoulders Pattern is possible .
Also, we can see Regular Divergence(RD+) between Consecutive Valleys.
I expect Bitcoin to rise to at least near $60,000 .
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>> Death Cross HappenedBitcoin is moving near the Resistance zone($63,000-$61,450) and the upper line of the Ascending Channel .
Finally, the Death Cross Sell Signal was seen yesterday.
Death Cross Signal : The death cross appears on a chart when an asset's short-term Moving Average(MA) , usually the 50-day, crosses below its long-term moving average, usually the 200-day .
Also, we can see the Regular Divergence(RD-) between Price and Volume .
I expect that Bitcoin will NOT be able to break the Resistance zone($63,000-$61,450) in this attack and at least fall to the lower line of the ascending channel and the Support zone($58,500-$57,140) .
Note: If the Resistance zone($63,000-$61,450) is broken, Bitcoin can rise to $65,000.
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
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Bitcoin Analysis==>>Short-termBitcoin is moving near the Resistance zone($60,800-$56,700) and the Downtrend line .
According to the theory of Elliott Waves , Bitcoin seems to have completed the Double Three Correction(WXY) near the Resistance zone.
From a Classic Technical point of view, Bitcoin seems to have formed a Double Top Pattern .
Also, we can see Regular Divergence(RD-) between Consecutive Peaks .
I expect Bitcoin to drop to at least $52,600 .
Bitcoin analysis on the daily time frame 👇
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>>Death Cross!?The fall of Bitcoin in the last 3-4 days has shocked everyone, first, let's take a look at the reasons for this fall :
The publication of the US employment report and the increase in the unemployment rate to the highest level in the last 3 years .
Tensions in the Middle East , the possibility of a confrontation between Iran and Israel in the coming days.
Rumors of selling Jump Trading's assets .
The Nikkei index of the Japanese stock market today fell 3,595.30 units , equivalent to -10.01% , to experience the heaviest daily decline in its history since October 1987 .
The Cryptocurrency Fear and Greed Index hit its lowest level since early July , indicating panic in the market. However, I think the Fear and Greed index will enter the Extreme Fear zone in the coming days.
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Now, let's take a look at the Bitcoin chart on the daily time frame .
Bitcoin managed to break the Support zone($60,800-$56,700) which is shown on the chart with the Resistance zone. Also, Bitcoin has broken 200_SMA(Daily) , 100_SMA(Daily) , 200_SMA(Daily) and 21_SMA(Weekly) , which is NOT a good sign for BTC.
Most likely, the Death Cross Sell signal by Bitcoin will happen.
Death Cross Signal : The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day , crosses below its long-term moving average, usually the 200-day .
From the point of view of Classic Technical Analysis , it seems that according to the momentum of Bitcoin's fall in the last 3-4 days, the continuing Descending Broadening Wedge pattern will fail, which could be a sign of the further fall of Bitcoin .
Looking at the USDT.D% chart , we can see that USDT.D% will probably increase again after a correction and attack the Resistance lines .👇
According to the explanation above, I expect Bitcoin to attack the Heavy Support zone($49,000-$38,500) again after the correction , probably near $59,000-$60,000. If the Support line is broken, we should expect Bitcoin to fall to $42,000-$43,000 .
Note: If Bitcoin can stabilize above the resistance zone, we can expect Bitcoin to rise again, but due to possible tensions that will happen in the Middle East in the coming days, this scenario is less likely to happen.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
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Annual Bitcoin Conference 2024==>>ExpectationsBitcoin moved as I expected in previous posts . The question here is whether the upward trend of Bitcoin continues or not!?
I apologize for the that the chart is a bit busy. I think all was needed😊.
🌐 Breaking News : As I was writing this post, the breaking news was that Joe Biden withdrew from the US presidential election, which can shock financial markets. 🌐
Bitcoin is currently moving in the Resistance zone($68,000-$66,170) and Ascending Channel .
According to the theory of Elliott waves , Bitcoin seems to have completed the main wave 3 in the resistance zone , and now we have to wait for corrective waves .
Also, we can see Regular Divergence(RD-) between Consecutive Peaks .
In addition, if we look at the USDT.D% chart , we will notice that USDT.D% is near the Lower line of the Ascending Channel and the Support zone , which I expect USDT.D% to have a little upward trend in the coming days, which will also correct the cryptocurrency market.
As a result, corrective waves can continue until the start of the annual Bitcoin conference 2024 , and if Bitcoin breaks the Support lines , the Support zone($64,000-$62,280) , 100_SMA(Daily) and 21_SMA(Weekly) , we can wait for the CME Gap($60,845-$57,895) to be filled.
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Now, let's get some information about the Annual Bitcoin Conference .
The Bitcoin Conference(started in 2011) is an annual event where industry leaders, developers, and enthusiasts gather to discuss the latest advancements in Bitcoin and blockchain technology. The conference features keynote speakers, panel discussions, and networking opportunities, providing insights into the future of cryptocurrency, regulatory issues, and innovations in the space. It's a key platform for sharing knowledge, exploring new ideas, and connecting with others in the Bitcoin community.
My review from 2017 is that the market cap of the cryptocurrency is considerably higher than in the years before 2017.
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The year 2017:
Date: May 22-24
The main market trend: Bullish
Bitcoin changes during the conference(%): +7.66%
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The year 2018:
Date: May 14-16
The main market trend: Bearish
Bitcoin changes during the conference(%): -4.27%
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The year 2019:
Date: May 13-15
The main market trend: Bullish
Bitcoin changes during the conference(%): +11.87%
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The year 2020:Covid
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The year 2021:
Date: June 4-5
The main market trend: Bearish
Bitcoin changes during the conference(%): -5.6%
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The year 2022:
Date: April 6-9
The main market trend: Bearish
Bitcoin changes during the conference(%): -6.89%
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The year 2023:
Date: May 18-19
The main market trend: Bullish(in correction)
Bitcoin changes during the conference(%): +2.00 %
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The year 2024:
Date: July 25-27
The main market trend: Bullish(in correction)
Bitcoin changes during the conference(%): ❗️❓ %
What do you think about the annual Bitcoin conference in 2024? Will Bitcoin continue to rise?
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It can be concluded that when the general trend of the market is bullish , Bitcoin has increased during the annual Bitcoin Conference, this review is only based on past data. Another point is that Donald Trump will probably speak at this conference this year, so Bitcoin probably increase in the two days of the annual Bitcoin conference 2024.
But before holding the annual Bitcoin conference in 2024, we can wait for Bitcoin correction.
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Bitcoin Analyze (BTCUSDT), 4-hour time frame⏰.
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Bitcoin Analysis==>>Bat PatternBitcoin is currently moving in an Important Resistance zone($68,000-$66,170) , which it has tried to break several times.
It also seems that Bitcoin has succeeded in forming a 🦇 Bearish Bat Harmonic Pattern 🦇.
I expect Bitcoin to drop to at least the Lower line of the Ascending Channel .
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin will go up again==>>Short termBitcoin made the corrections I had expected in previous posts .
Bitcoin is moving near the Heavy Support zone($63,410-$62,280) and Support lines .
I expect Bitcoin to rise by touching the Support lines and Support zone($63,520-$63,240) .
Bitcoin Analyze (BTCUSDT), 15-minute frame⏰.
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Bitcoin is Ready to Attack to Heavy Resistance zoneBitcoin moved as I expected in yesterday's post and managed to break the descending channel and Resistance zone($65,500-$64,850) .
According to Elliott's wave theory, Bitcoin is completing the main wave 5 .
I expect Bitcoin to start rising again after the minor correction and attack the Heavy Resistance zone($67,930-$66,160) .
Do you think Bitcoin will break the Heavy Resistance zone($67,930-$66,160)❗️❓
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Roadmap==>>4-hour Time FrameBitcoin made the corrections I had expected in previous posts .
Bitcoin is currently moving in the Support zone($63,410-$62,280) .
According to the good news from the crypto market , we should expect an increase in Bitcoin at least until the end of July, when the annual Bitcoin conference is in a few days.
According to the Elliott wave theory , Bitcoin seems to be completing wave 4 . If the upper line of the descending channel breaks, we can confirm its end .
I expect Bitcoin to rise to at least the Resistance zone($68,000-$66,170) .
Bitcoin Analyze (BTCUSDT), 4-hour time frame⏰.
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Bitcoin Need Correction!!!==>>15-min time frameBitcoin started to rise after the German government finished selling Bitcoin , and what happened to Trump .
Bitcoin is currently in the Resistance zone($64,420-$62,700) and near the 21_SMA(Weekly) .
According to the theory of Elliot waves , it seems that five waves have been completed and we should wait for corrective waves .
I expect Bitcoin to fall to at least $61,780 .
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>>15-minute time frameAfter breaking the lower line of the Leading Diagonal , Bitcoin confirmed the completion of this pattern yesterday.
Today, I analyzed Bitcoin for you in 15-minute time frame .
According to the Elliott wave theory , Bitcoin seems to have completed the Zigzag Correction near the lower line of the Leading Diagonal ( pullback completion ).
I expect Bitcoin to go DOWN to the Targets specified in the chart in the coming hours.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>>RoadmapAfter the announcement of the Consumer Price Index(CPI) Indexes , it seems that Bitcoin's correction structure has changed a little, but I still DO NOT expect an increase in its price.
In terms of Elliott wave theory , Bitcoin seems to be completing the Leading Diagonal .
Also, we can see Regular Divergence(RD-) between Consecutive Peaks .
I expect Bitcoin to start falling again after entering the Potential Reversal Zone(PRZ) and at least fall to the Target I have specified on the chart.
Note: If Bitcoin can go above $62,000, the scenario will change.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 1-hour time frame ⏰.
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Bitcoin Roadmap==>>1-hour time frameThese past few days, the cryptocurrency market has been affected by news about the Mt.Gox exchange and the German government's manipulations .
Bitcoin has managed to break the Heavy Support zone($61,100_$58,700) and 200_SMA(Daily) and is currently completing a pullback .
In terms of Classical Technical Analysis , it seems that Bitcoin has succeeded in forming a Symmetrical Triangle Pattern ( A symmetrical triangle is usually a continuation pattern ).
Regarding Elliott's wave theory , Bitcoin seems to have finished the Double Three Correction(WXY) .
I expect Bitcoin to fall at least to the Lower line of the Symmetrical Triangle Pattern and Cumulative Long Liquidation Leverage .
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
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