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Btctechnicalanalysis

Bitcoin Update in Daily Timeframe.BTC Daily Update: It's already day 5 since BTC hit GETTEX:64K , and it is still trending above $60k, making a sideways move. BTC did something unexpected last week, and the expectation bar is set high among traders. Some expect BTC to reach a new high before the halving, while others anticipate a significant correction. Well, no one can see the future, but we can analyze the chart and create scenarios for better probabilities. If you view the chart carefully, you'll notice that right before the previous pump, BTC went sideways, and then there was a nice 20% pump. The same action can be expected here, but only if BTC maintains these levels. A breakdown and close below $60k in daily TF will create higher chances of correction. On the other hand, maintaining the sideways trend between $60k to GETTEX:64K could help BTC make another parabolic move toward the ATH. That's it for now. We will keep you all updated, so stay tuned. Have a blessed weekend. Regards, Team Dexter.
by Dexter_The_Trader
2
Bitcoin to hit the All Time High.Hello Traders, Welcome to the latest update on Bitcoin in the daily timeframe. From $50k, BTC has surged to GETTEX:64K , marking a 27% rally over the past 6 days. The daily close at $62.4k indicates a step forward towards the possibility of BTC hitting its all-time high (ATH). Moving forward, BTC faces the first layer of resistance between $64.8k and $65k. A successful break and close above this level, whether in the daily or weekly timeframe, could pave the way for BTC to target its ATH at $69k. While many have been anticipating a market correction, it has yet to materialize. Does this mean we are at the peak of the correction? It's uncertain. However, whether BTC reaches its ATH or establishes a new one, a correction appears imminent. It could occur either before or after the halving, but it's on the horizon. That's all for now. Thank you for reading. Regards, Team Dexter
by Dexter_The_Trader
Is Bitcoin Getting Ready for $60k?To answer this, I have divided it into two scenarios: Positive Scenario: BTC has closed at $52,137 daily, and the chart shows a nice BRB pattern (Breakout, Retest, & Bounce). This suggests the possibility of another parabolic move toward the $60k target. Negative Scenario: BTC has again closed below the GETTEX:52K range in the weekly timeframe. This increases the chances of rejection. Additionally, the RSI shows an overbought crisis, indicating an impending correction. Conclusion: In the daily timeframe, if BTC closes below $50k, it will strongly indicate a correction in the market. Until then, I am expecting BTC to reach $60k. #BTC
Long
by Dexter_The_Trader
7
BTC BITCOIN Technical Analysis and Trade Idea#BTC's recent bullish run has been noteworthy. However, I'm watching for a potential buying opportunity if we see a decisive retracement down to the 61.8 Fibonacci level. A subsequent retest and failure of a range at the low around the current support level formed during that pullback would provide a strong entry signal for #Bitcoin. As always, it's crucial to remember the inherent risks of trading. Conduct your own thorough research, factoring in fundamental market drivers and the broader macroeconomic landscape alongside your technical analysis. Never neglect sound risk management strategies to protect your capital. Disclaimer: This analysis offers a technical perspective on BTC and should not be taken as investment advice. Tailor your trading decisions to your specific risk tolerance, informed by comprehensive market research and a holistic assessment of all relevant factors.
OANDA:BTCUSDLong
by tradingwithanthony
BTC BITCOIN Technical Analysis & Trade IdeaBitcoin (BTC) has enjoyed a robust bullish run, but recent price action on the four-hour 4H chart indicates potential weakness. Since February 13th, BTC has entered a sideways consolidation phase. I'm anticipating a sell opportunity should we observe a decisive break below the current range low, followed by a retest and failure of that level. Potential targets for this trade would align with prior swing lows. It's imperative to emphasize that trading carries inherent risk. Before executing any trades, it's vital to conduct your own extensive research. Consider both fundamental market drivers and global macroeconomic conditions alongside your technical analysis. Always implement sound risk management practices to safeguard your investment. Disclaimer: This analysis presents a technical viewpoint on Bitcoin. It should not be interpreted as investment advice. Base your trading decisions on your own risk profile, comprehensive market research, and a thorough assessment of all relevant variables.
OANDA:BTCUSDShort
by tradingwithanthony
2
BTC BITCOIN Technical Analysis and Trade IdeaMarket Observations: BTC/Bitcoin has experienced a remarkable bullish surge. However, the monthly timeframe indicates potential overextension. Moreover, recent price action pushing into previous highs on both the monthly and weekly charts suggests a possible retracement towards the 50-61.8% Fibonacci zone. This area typically attracts increased liquidity, potentially encouraging long positions from institutional investors. Trading Considerations: Counter-Trend Short: Explore a short entry near the current price level, strategically placing a stop-loss above the recent highs. Maintain a 1:1 risk-reward ratio for this trade. Fibonacci Buy: Target a potential buy opportunity close to the 61.8% Fibonacci retracement level. This aligns with the possible accumulation of long positions by larger market players. Utilize a stop-loss below the recent swing low, and define target levels as shown on the screenshot. Disclaimer: This analysis offers my personal market interpretation for educational purposes and should not be considered direct financial advice. Always prioritize your own independent research and thorough risk assessment before making any trading decisions.
OANDA:BTCUSDLong
by tradingwithanthony
#Bitcoin Weekly UpdateHello folks, the Bitcoin weekly close is here, and this week's close was at $48.3k. Is it positive? Maybe. There's no doubt that BTC performed quite well by remaining consistent with the rally since September 2023. With the current price at $48.1k, BTC might touch the $50k range within this week, but we also need to consider the negative parameters. As I mentioned earlier, on a weekly timeframe, once BTC makes this jump, the RSI will lose its momentum and eventually form a bearish divergence. Well, we can see it happening; the RSI is forming a bearish divergence whereas the price is increasing. This rejection may take place from the current price level or possibly after we see BTC in the $50k range, but eventually, a correction/rejection will follow. I was expecting a daily close in the $50k range for better confirmation, but BTC struggled at $48k. Anyways, more updates on BTC and the market as it unveils the next chapter. Trade safely. Regards, Team Dexter
INDEX:BTCUSD
by Dexter_The_Trader
BTC quick update.Hello folks, we finally have the daily close on #BTC at $44.3k, but the danger is not over yet. After yesterday's sudden bounce in BTC, the price took a pause close to $44.8k. This is the exact spot where in the past we had the shadows. If it is too good to be true, then BTC is likely to face rejection again. I would love to see Bitcoin breaking out all barriers and reaching higher levels, but I can't be biased. I am simply analyzing the best possible scenario and presenting it in front of you. Here's my conclusion: in this 8-hour TF, BTC must break above the blue box to reach the initial $47k resistance and then continue its higher rally. Failing to do so will show rejection, with $43.4k serving as the initial support. Note: Other timeframes may not show the same information as this chart. Therefore, it is advisable to analyze charts on different timeframes. This post is only for educational purposes. Regards, Dexter.
by Dexter_The_Trader
BITCOIN IS FULL OF SURPRISES.After two bearish candles, Bitcoin indicated a possible rejection. While we observed rejection in the lower time frames (LTF), the weekly chart reversed the entire scenario. Bitcoin transformed the bearish red candle into a green one, leaving a long lower shadow, and opening a new candle above $42k. This indicates some positivity in the market and the potential for BTC to bounce back to $47k. The support and resistance levels will remain the same for both the weekly and daily charts. It is always better to keep the worst-case scenario in mind; in this case, $30k is the worst-case scenario, and a breakdown below $37k will likely be a red alert. Note: A correction still awaits before the halving. Do your own research before investing because this isn't financial advice. Thanks, Team Dexter.
INDEX:BTCUSDLong
by Dexter_The_Trader
3
BTCUSD Trading Plan - 31/Jan/2024Hello Traders, Hope you all are doing good!! I expect BTC to go Up if it gives correction here. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
EIGHTCAP:BTCUSDLong
by For3xScalper
Bitcoin: The Daily Close Below $40k.BTC's daily close was at $39.5k, which is not a good sign, to be honest. BTC was expected to hold this level to remain bullish, but the weekly chart tells a different story. Now, the next move is anticipated to be a further drop toward the $37k level. How I wish BTC could turn this daily close into a fakedown and bounce back to $44k, LOL! Our strategy remains the same: stay in USDT, consider every dip as a buying opportunity, and avoid leverage trades. Turn on notifications for more updates. Regards, Team Dexter.
Short
by Dexter_The_Trader