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BTC Price Analysis: Isn't it time to book some profit? A driver should know when to drive faster and when to stop. Likewise, as a trader or investor, you should know when to cash your investment and reinvest. Since July 2021, bitcoin added almost 28kof its value. Who bought BTC in July nearly returned double. Once bitcoin is considered a safe haven asset, but it is too volatile. From July 2021, bitcoin follows a nice upward trend. Most of the time, BTC bounced from ascending channel support and retraced from descending channel resistance. Bitcoin's all-time high is nearly $65000. However, the market is a bit away from its historical high. Most of the cryptocurrencies have spiked up in the last three months. Several times 58k to 60k played as a profit-taking zone for the BTC. There is a word in the forex market that history repeat. Suppose you want to calculate BTC with fundamental analysis like gold, silver, or other currencies. I think you can't because Bitcoin doesn't follow any specific fundamental factors. As we trade BTC/USD, in 60/65% cases, you can use the U.S. economic reports as a fundamental divergence for the BTC, not more than that. Anyhow, we can explain BTC's price movement with technical analysis. That is more than enough for speculative investors or traders. All the cryptocurrencies, including bitcoin, have reached their profit-taking zone according to the pure price action chart that I usually follow. Bitcoin price closed below the rising trend line. since several hours, the market has been trying to break the rising trendline. But it couldn't. So, if the daily candle closes below the rising trendline, we may see a significant drop from the present rate. From the present rate, $58000/60000 is identified as a strong resistance. As long as below $60000, I recommend closing your buy order and waiting for any bearish chart or candlestick pattern. If BTC confirms a bearish pattern from the current situation, there is a big chance BTC will drop from this level. Chrismas is not far away. So, anytime the stock market and crypto market can drop massively just for profit-taking. I will recommend putting your stop loss above $65000 and taking a profit of nearly $50000. You want to survive in the investing market, and you have to know when to stop. I think it's time to cash your profit and wait for the next so that you can buy again at a low price.
Short
by Gold_Trading_Expert
1
BTC Trend AnalysisBefore BTC fell, I mentioned that it would fall in the analysis I published in another language. According to the analysis of the Shark pattern, I think that the targets have not been set yet. When we look at the now, we can see what has changed after the shark 2 pattern. When we look at the present, we see elliot waves and corrections. If you are one of those who think that the location of the 3rd wave is wrong, I respect your comment. If elliot 3rd wave lasts longer or is stronger than expected, it will shorten wave 5th. Comment with that in mind. If wave 5 moves beyond that trendline, it is called a throw over. When there are weak 5th waves like this, sharp decreases can be experienced. An example from 2019. The 3rd wave seems to have weakened the 5th wave here as well. The downtrend is just as fast and destructive. This is not our topic. I had to go into detail because some friends wanted me to explain. If anyone wants more information, I can add academic article suggestions to the comments. Whether this is a smooth elliot wave or not, let's continue to examine with current patterns and indicator data. These two patterns may have compatible Fibonacci levels. 1. model C leg ended at 1.13 and leg B is out of measurement limits. In the 2. model, the b leg is much higher than 0.618 and again outside the measurement limits. Taking these measurements as a reference, there is only a shark pattern that I know of, where the b legs are out of the measurement and the C legs are at the levels of 1.13 and 0.886. If I'm not mistaken and the measurements are correct, the 0.618 resistance of pattern 1 would correspond to the 1.13 level of pattern 2. if this happens, we can think of it as pattern shark 2. In this case, we can expect a decrease. Although not certain , shark patterns have always been accompanied by another harmonic pattern. In summary, I see an M after every W or a W after every M in general. I think these two models complement each other. After this, it is likely that there will be a decline instead of a new pattern. I wrote a support resistance script. When you look at it in sync with the sine waves, you feel there is a missing picture. This has nothing to do with technical analysis. A feeling that anyone familiar with reading graphs can have too. Let's look at the patterns that may appear when we try to simulate a pattern on this image. This is our 1st simulation In this case, the price will regress to 32K levels and go to 59K from there. I never think there will be this second scenario, but I still want to share it. and this is scenario 3 Finally, I want to share what I actually think; These are money indicators. When the red line cross under the green line prices have always risen. According to the Aroon indicator, sellers are still weak and buyers don't care much right now. If the aroon down continues to go up and the aroon up turns up, that means it's trending.( In the monthly time frame) Maybe I'm not seeing logically by thinking emotionally. But Tesla shares are up right now. And according to the analysis I shared last , I think Tesla shares are about to pull back down. Tesla and BTC are inversely proportional. So they arbitrage. BTC will experience another minor correction. I think ? I believe that after this retracement , the real trend that everyone has been waiting for will begin. This is a chart drawn by monthly time period. A downward harmonic pattern does not match my measurements. I can only match the data with a crab pattern you see in this graph.(indicator and candles) Maybe my emotional expectation subconsciously guided me like this. But at least the indicator data can support this expectation. There's usually a pullback every weekend. I guess next week everything will be clear. I do not think that names like Elon musk and michael saylor will allow the large amount of bitcoin in their hands to become garbage. Note: This is not investment advice.
by CryptoBrainn
1
Why BTC Dropped Hard and What Is The Next Destination? It was supposed to be a good day for Bitcoin as the El Salvador government "had to unplug a BTC with demand" as citizens registered for the wallets., but it has turned into a rout. In the open eyes, it shouldn't have happened. That is supposed to be a piece of good news for BTC But why BTC dropped then? There may have 3 reasons from my personal view. 1. Buy The Rumor Ans Sell The Fact. 2. BTC was already priced in on El Salvador. 3. The market is creating space for more upside pressure. El Salvador's government has spent approximately $20 million on Bitcoin and has installed 200 Bitcoin ATMs across the country. For citizens who register, government-run Bitcoin wallets will be loaded with $30 in Bitcoin. El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency. El Salvador's population is less than New York City's, so it's not a big number of people who will really use BTC. Maybe that's why the market didn't take it seriously. And the market was already priced in about El Salvador's yesterday's decision. so, it's not new. Normally, if any upcoming news used to price in already, we have seen before after releasing news market runs in the opposite way. that is call buy the rumor, sell the fact. What can happen in the future? This is the most prominent question. if other countries follow El Salvador, the demand for the BTC and other cryptos will increase there is no doubt. but, I don't think very soon any strong economical countries will follow El Salvador'. those countries that have hyperinflation like Zimbabwe may consider BTC as the national currency. SO, I don't think that is going to happen very soon. AS from the present situation, investors may be satisfied after dropping BTC, they will jump to buy again. as the market dropped a lot and it was not flash crashed. so, I think BTC will drop more next few days nearly 42000.00 to 38000.00 price zone hen BTC may go up again. Technical View Technically BTC dropped below the rising trend line. which means BTC has started its downward trend. From the present rate, the next target is a 42000.00 price zone. Breaking below 42000.00 will open the door for the 38000.00 price zone. on the other hand, 50600.00 is the strong resistance and break-out area. Breaking and stable above 50600.00BTC will the uptrend again. to the upside our first target is 52500/53000 and final target to the upside is 60000.
Short
by Gold_Trading_Expert
Bitcoin Updated Entries + Exits (Semi-Long Term)How To Play The Chart Entries/Exits: Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 30 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat.
BITSTAMP:BTCUSD
by ExclusivelyFX
3
MFTUSDT Would Go Higher After the Breakout Welcome back Traders, Investors, and Community! Hi Traders, MFTUSDT on H4 shows us a large green candle and after the rejection didn’t go far from the Resistance, so if it breaks above the resistance it could go higher. ⬆️Buy at resistance Breakout or Buy at 0.0064 ⭕️SL @ 0.0049 ✅TP1 @ 0.0105 ✅TP2 @ 0.0150 ✅TP3 @ 0.0200 We will have more FREE forecasts in TradingView soon ❤️ Your Support is really appreciated!❤️ Have a Profitable Day
MLong
by Fibonacci-Signals
2
FILUSDT Is Going up to the Reach the Resistance Line Welcome back Traders, Investors, and Community! Hi Traders, FILUSDT on H4 is in the Bearish channel after the rejection from the Support it may go back for another retest of the Support before it goes to upper line of the channel. If we get a breakout above the channel we can expect to reach 55.20 ⬆️Buy at Resistance Breakout or Buy at 43.5 ⭕️SL @ 39.0 ✅TP1 @ 55.20 ✅TP2 @ 73.55 We will have more FREE forecasts in TradingView soon ❤️ Your Support is really appreciated!❤️ Have a Profitable Day
Long
by Fibonacci-Signals
BAKEUSDT Has Broken Above a Major Resistance Welcome back Traders, Investors, and Community! Hi Traders, BAKEUSDT on H4 has broken above a major Resistance which indicates it could be the beginning of an uptrend. The price might go down 1.9183 before it goes up. In the lower TF you can look for potential entries. ⬆️Buy now or Buy at 1.9183 ⭕️SL @ 1.5179 ✅TP1 @ 3.4986 ✅TP2 @ 4.5710 ✅TP3 @ 7.5242 We will have more FREE forecasts in TradingView soon ❤️ Your Support is really appreciated!❤️ Have a Profitable Day
Long
by Fibonacci-Signals
22