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Daily Bitcoin Update - March 5, 2024Yesterday CRYPTOCAP:BTC rose above the light blue resistance zone, and rallied towards previous all time highs around $69k. However, BTC stopped just short of reaching new all time highs at the orange trendline. There has been a pullback and retest of FWB:65K , and BTC is continuing to show some strength this morning with a bullish bounce. I think the price is likely to trade sideways below SWB:69K for now, and we'll see if BTC starts to break down over the next few days. CRYPTOCAP:BTC Attempting a Bullish Retest of $63.9K Here CRYPTOCAP:BTC has started dropping, but BTC is attempting to form a bullish retest of this $63.9k resistance line to flip it into support here. Looks like there will be a bounce and rebound here. I think BTC could continue trading between GETTEX:64K and SWB:69K for now.
BITSTAMP:BTCUSDShort
by realchartchamp
Bitcoin Technical Analysis: Key Resistance and Potential RetraceBitcoin (BTC) has recently encountered a crucial resistance level at its previous all-time highs. Given this development, we anticipate a substantial retracement in price. However, our outlook remains optimistic, with the potential for a continuation towards the $80,000.0 mark. Our trading strategy involves closely monitoring the 1-week timeframe. Specifically, we aim to enter the market during the 50% to 61.8% Fibonacci retracement zone. Our profit target is set at 2R, emphasizing risk management and reward-to-risk ratios. Disclaimer: This analysis serves as an opinion and should not be construed as financial advice. Traders and investors should conduct their due diligence and seek professional counsel before making any trading decisions.
OANDA:BTCUSDLong
by fxtraderanthony
Every Fair Value Gap & Volume Gap For Bitcoin {10/02/2024}Educational Analysis says BITCOIN BTCUSD may move in this range for some time according to my technical. Broker - Coinbase This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why this range? Because I think It's going to be short selling for Bitcoin this year or up to the end of this year, There is a lot of liquidity as fvg & volume gaps to the downside. Bitcoin Institutional traders have built a lot of liquidity when the price was very low, I think it's time to collect it and after that go for an all-time high. Let's see what this pair brings to the table in the future for us. Please check the Comment section on how it turned out for this trade. I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS, Happy Trading, Fx Dollars.
COINBASE:BTCUSD
by VishalBudhrani
1
BUY MORE BITCOIN IN THIS RANGE NEW ATH IS COMING!!!HELLO TRADERS As i can see BTC is going to make a new ATH in this session before halving a massive volume and greed will create a new ATH in bitcoins Friends it's still cheap peoples who was noy buying from 17K now greedy for bitcoin BLACK ROCK and other ETF,s are converting their assets in BITCOIN buy more and join the train before its will too late BTC is ready to trade in 6 DIGIT sooner than expected.... there are many other things can move more higher price of BTC Greed is exceeding around the world Its just an trade idea share you thoughts with us STAY TUNED for more updates
COINBASE:BTCUSDLong
by APEX_TRADING_ACADMEY
Shorting Bitcoin at $62,000Bitcoin bears have been getting wrecked for the past few months, but I think Bitcoin is finally forming a peak here. I'm willing to take my chances and will exit my trade if BTC continues to show bullishness above $64k. So far this week Bitcoin has increased by GETTEX:14K in just 3 days. I shorted at $62k, the price is now above my entry at around $62.9k. I'm comfortable leaving my shorts opened as long as Bitcoin doesn't continue climbing above $63.9k. Ideally I would like to see a strong move down over the next few days. For now I'm still leaving my shorts opened and will see how things are trending later BTC had a rejection near $63.9k and is starting to show some weakness here. I'll give another update later today to see how things are looking. Yesterday I emphasized that the the $61,561 price level is a key price level to monitor, and this remains as my key price level today as well. BTC is trying to find support here and ideally I would like to see a failed support that leads to a drop down lower.
BITSTAMP:BTCUSDShort
by realchartchamp
Was i wrong? BTCI wasn't posting updates on BTC for a reason: nothing is clear yet. Was i wrong? I am short with an avg entry of 53k actually, and yes, i am in loss. I am still holding it. I am holding because we are at major resistance ($51.800 is a major daily resistance) and Greed is Extreme. Honestly, i think this is a trap from ETF funds that are just showing potential profits to new, big clients. As soon as funds will take profits, we could see and massive correction. $50.000 is the first support zone, $42.000/$44.000 is the second main support zone.
Short
by SaliJournal
BTC → Bitcoin Near Resistance! Should We Short? Let's Answer.Bitcoin is in a critical price zone as this bull run has taken us from $15,500 to $52,800. Is this a situation where we short? Or do we prepare for a long? How do we trade this? 🤔 Shorting may be an option for a lower timeframe such as the 15m or 1HR. I would not be shorting on the Daily or Weekly candles, but waiting for the price to pull back to enter a long. As outlined in my Bitcoin Lifetime Analysis, I believe Bitcoin is due for a major pullback ranging from 30-50% toward the $25,000-$30,000 price area: I would target a long entry in the $35,000 price area, set a stop loss either below the $15,500 low and target a 1:3 Risk/Reward, or a stop loss below the previous trading range at $25,000. Look for a double bottom around the Breakout Support area at $31,800 with a strong bull signal and confirmation bars. From there, reasonable take profit targets include 1:1 Risk/Reward at $42,300, just below the current price at $51,000, just below the previous all-time high at $65,000, and just below $100,000 which is a psychologically even number target. 💡 Trade Idea 💡 Long Entry: $35,575.00 🟥 Stop Loss: $22,900.00 ✅ Take Profit #1: $42,300 ✅ Take Profit #2: $65,000 ✅ Take Profit #3: $98,000 ⚖️ Risk/Reward Ratio: 1:5 🔑 Key Takeaways 🔑 1. Three pushes up toward a Resistance Area of $52,800 2. Resistance area is derived from the 2021 Head and Shoulders pattern 3. Wait for the price to pullback between 30-50%, and look for a double-bottom reversal pattern near $35,000 4. Long at 1:5 risk reward and take profit at three key levels 5. RSI is overbought at 78.00 which supports the pullback. 💰 Trading Tip 💰 Trends typically have 3 pushes in either direction before a trend change begins. Along with other market indicators, creates a situation to look for counter-trend trades because the probability of profit is high enough. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
INDEX:BTCUSDLong
by TraderEngineering
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 fxtraderanthony