BTC Testing Bull Flag Resistance at $68,000Market Overview:
Bitcoin (BTC) is currently testing the upper resistance level of its bull flag formation around $68,000.
Recent price action shows a higher high compared to the previous highs from late September and August, confirming a bullish trend on higher time frames.
Key Levels to Watch:
Resistance: $68,000 (bull flag top)
Target: $70,000 (next psychological level)
Outlook:
Given the upward momentum, BTC is likely to consolidate in the $68,000 range for a few days before attempting a breakout.
A successful move above this resistance could pave the way for a test of the $70,000 level.
#BTC #Bitcoin #PriceAnalysis #BullFlag #CryptoMarket
Btcsud
Bitcoin (BTC) - October 23Hello?
Welcome, traders.
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(USDT 1D Chart)
(USDC 1D Chart)
You need to be careful when trading as there is an ongoing outflow of funds through USDC.
If the outflow of funds does not stop, the rise of the coin market is bound to be limited.
(USDT.D 1D Chart)
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(BTCUSDTPERP 1D Chart)
The key is whether the price can sustain above 19216.3 to break out of the downtrend channel.
It is necessary to check if there is any movement outside the 0.786 (19076.8) - 19424.9 range due to the volatility between October 22-24.
To transition to an uptrend, it needs to rise above the HA-Low indicator and be supported.
Therefore, it should rise more than the 19355.6-19607.9 section.
A decline below 0.786 (79076.8) is expected to trigger a move towards the downtrend line (1).
Below 19424.9, the main position is the 'SHORT' position.
(1h chart)
If it succeeds in breaking above the 19216.3 ~ 0.382 (19260.9) section, then section 1 is the resistance section.
If it fails to rise above 19216.3, you need to touch the downtrend line (1) passing through section 2 and see if it rises.
This is because if it falls below the downtrend line (1), there is a possibility that it will fall back to section 3.
However, you need to be cautious as it touches the 18895.1-18947.7 zone and is moving upwards above the downtrend line (1).
Therefore, in order to take a new position, it is recommended to decide by looking at the movement when attempting to break through the range of 19216.3 ~ 0.382 (19260.9).
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- big picture
I think you need to be supported in the 13K-15K section to gain the strength to rise.
So, whether it rises or falls from its current position, both require a short-term response.
A full-fledged uptrend is expected to begin when it rises above 29K.
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** All descriptions are for reference only and do not guarantee a profit or loss in investment.
** If you share this chart, you can use the indicators normally.
** The MRHAB-T indicator contains indicators that indicate support and resistance points.
** SR_R_C indicators are displayed as StochRSI(line), RSI(columns), CCI(bgcolor).
** CCI indicator is expressed as overbought range (CCI > +100) and oversold range (CCI < -100).
(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)
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BTCUSD💲Sideways movement?📉BTC. The price underwent extreme retesting after the breakout of the pattern. Now we can make another leg next week. There is little resistance around $ 64,000. BTC needs to close above the mark to get some bullish momentum.
Follow our forecasts to keep abreast of developments!
Have a nice trade!
Your Solldy.
SHORT BTCUSD - Short TermBitcoin has formed a steep trendline and is currently forming a bullish flag.
2 Trades Here:
1. Buy BTCUSD with target at the resistance level which will complete the bullish flag setup.
2. Sell when price retests the previous high which is a indication that the bullish flag setup have been completed. Target will be the next support level.
PPPDirhams.
Disclaimer: This is just my idea. Am not liable for the end results if adapted by anyone. Trade cautiously as there are chances that you will lose your investment..
COINBASE:BTCUSD
Birds eye view of BitcoinBitcoin has a lot of momentum but some divergences are apparent.
It has had a long run already and is ready for a correction.
Unless the correction happens soon, it will continue to possibly 100k for a more substantial correction, that will last for months or even years.
Personally I think BTC will get a nice correction, possibly up to 50 or 60%, but more likely 30 or 40%, then continue up.
If BTC goes up too fast it will hit resistance in the trend-channels quicker, so the price for this bullrun will be lower than if it takes its time.
Check out Switcheo Tradehub's exchange dem.exchange; it has almost no transaction-fees, is fully decentralised (connect Metamask or ledger), layer 2 dex.
THE PAMP IS REALIs this the beginning of the candle we've been waiting for, or is this just another fakeout before we touch support again?
Hard to tell, but the long term play remains. Sometime between now and November we are going to see the big boom up.
At this point I should probably start a paid group but instead I'll just say Join twetch and that is all.
BITCOIN Triangle Pattern Signaling Exhaustion of The BullsBitcoin bulls are doing great but this triangle pattern is indicating that the strength is almost over.
According to Elliot Wave theory, triangle pattern always preceded the last move of a sequence.
In Bitcoin's case, price is making a five-wave impulsive move, so once the last impulse move in wave v is completed we can see a sizeable decline on BTCUSD.
What's your opinion on Bitcoin?
BITCOIN all possibles scenariosHello Traders,
Here is a overall view about BITCOIN and all the things you have to see before making your decision.
The first scenario is a possible Head n Shoulders pattern at 1hr time frame if we loose this neckline we can have a stronger correction moviment.
The second scenario is that we can test this two support levels bellow and still be on bullish trend.
In the big picture we can see that the price feel it the long Term Resistance line, and can have significant correction moviment from this level.
We do not descart out the possibility of starting an accumulation pattern at that level and breaking uptrend moviment in a few days and broke the long term resitance line and go above 10k zone.
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BTC broke 200 SMA to the upside & forming inside bar.1 Daily
We did not manage to make a lower low from 6.5k but got a runup to 9.2k instead this past month. After hitting 9.2k we got a bounce from .618 of our white retracement also where our 26 EMA was (purple). We managed to break above 200 SMA (red) with that thus making us bullish . We managed to break through our 50,100 and 200 SMA altogether. A weak bearish divergence is starting to form on the Daily and we can find strong bearish divergences in hourly time frames so we could be cooling off from here short term. On the Daily an inside bar is also forming. This could be a nice inside bar trade, cause a break past 9.5k and we could be going up to test our 10k resistance. Then we will have to wait and see how 10k test. So as long as we stay above our 200 SMA on the daily, I believe BTC will continue to be bullish .
1 Weekly
On the weekly we are getting 2 bullish crossovers, a bullish MACD crossover and a bullish EMA (yellow/purple) crossover. As long as we hold above 8.3k-8.5k, we are bullish .
BTC Parabolic realized with Sinus Function Midtime Target 7000$Idea from Peter Brandt, the Bitcoin -1.05% (BTC/XBT) is rising in parabolic function, so i try to use the sinus function and fit the parabolic gradient to the chart.
Maybe this Experiment works, otherwise i have hopefully found a way to save my chart´s in public without to must buy the Pro Version of Tradingview.
@Tradingview Creator, maybe it is possible to sell in the future a student version, would be great.
Every feedback is welcome, i see every advice as a possibility to get better.
Twitter:
Dipl_Ing2k17
PeterLBrandt
WHAT DID YOU LEARN FROM DOTCOM BUBBLE ? BTCINVESTMENT VERSUSES SPECULATION
What is an investor?
An investment operation is one which upon thorough analysis promises safety of principle and an adequate return. Operations not meeting these requirements are speculative.
The DOTCOM bubble started around 1997, peaked around 2000 and ultimately burst in 2002. The bubble revolved around speculative investment in internet companies. In that time investors were so excited about new tech that they invested in almost any tech company without even caring if that company is profitable or not. COMMONSENSE BEGAN RARITY. After the bubble burst only some companies survived example amazon.com.
THE CONCLUSION IS SIMPLE: THE DOTCOM BUBBLE IS A FACINATING HUMAN NATURE LESSON.
Every nonprofessional who buys a “hot” common stock issue, or make purchase in any way similar thereto, is either speculating or gambling. Speculation is always fascinating, and it can be a lot fun while you are ahead of game. If you want to try your luck at it, put aside a portion, the smaller the better.
So what I am trying to say is, if you understand bitcoin by core, you know how it works, how it’s made, what are it’s competitors, is the price too high for me to buy, why it has any value and why this value will keep growing then you are an investor, however if you are buying or selling it because others are doing then it’s pure gambling.
As Warren buffet Says: www.youtube.com
“Stay away from it”
From my point of view, I will not invest in bitcoin as I do not understand it and I do not want to be a speculator. I find MCD a better investment for long term than BTC.
References: An intelligent investor Benjamin graham www.booktopia.com.au