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Everyone sees this pattern on BTC chart, but will it work out ?Today, we're going to look at several scenarios for possible Bitcoin price movements. Let's start with the fact that our previous trade for BTCUSDT hit the breakeven stop yesterday. Although this trade showed +7.5% at its maximum and 2.5% to take profit, we recorded a +0.7% result. We hope that someone else managed to make better use of this trade and record a higher profit. The triggering of a stop order makes it necessary to analyze the chart on a larger time frame and consider various possible scenarios in the future. Head and shoulders is a global trend reversal pattern. Probably, most people looking at the BTCUSDT chart now will be able to see something similar to the probability of H&S formation. However, there is an important note: the final confirmation of this pattern will come only after the price of BTCUSDT breaks through and fixes below the "neck of the pattern", i.e. below $24600-25300. Therefore, it is very important to wait for the confirmation of this pattern. Here's an example from 2020 when the same pattern was drawn twice, once it deceived, and the second time it worked: And it is very likely that the first time, novice traders did not wait for the pattern to be confirmed and open short position above the neckline and suffered a loss on the upside. And the second time, they suffered a loss by taking longs, because they thought that the pattern didn't work at all, as it had already happened a few weeks earlier, and the pattern worked out well after confirmation. As the BTC price drops, we will analyze the market situation at the moment and look for a range to enter longs. At the moment, this range starts from $25300 (if buyers do not allow the low to be updated) to $24600 (if sellers manage to break the stops that are hidden behind the two previous neckline lows). So, if you like the way we think, comment on this idea, like and subscribe to us. And you will receive a notification from Tradingview that we have updated this idea and published a "fresh" trade . If the price of BTCUSDT does consolidate below $25000, then there is a good chance that the pattern will work out. The target for this pattern is around $19700. But for now, at least for us, this is too obvious an option that everyone can see. But unfortunately or fortunately, "everyone" cannot make money in the market, can they?)
BITSTAMP:BTCUSD
by P_S_trade
37
BTC bullish vs bearish scenariosBTC / USDT After rumors of SEC approved Bitcoin ETF yesterday, price pumped hard and then most of the pump is absorbed … right now BTC at very decisive area : 1- The Bullish scenario: Since 2021 the key level (31-32k)is a very strong level, a breakout and stability above is a bull signal and will confirm double bottom pattern 2- The Bearish scenario: completing the head and shoulders pattern and dropping below 25k will lead to further correction “if happened I believe it will be the last correction” What is the most likely scenario for you and why ? All questions and opinions are welcomed Share with me below ⬇️
by Babenski
48
Market Symmetry show BTC dipping before pumping to 34kNOTE: Following is interesting stuff but don't take this seriously as this is just for fun. I love market symmetry and use it to make models that predict what certain assets may do next, it works as long as model and symmetry remains intact. Chart is self-explanatory, but still there is a lot going on so let me break it down. This story began on 12th September as you can see on the left most part of the chart. That is when the current uptrend began and BTC started moving symmetrically on several parameters which are described below. 1. Time spent at the lows before making move that breaks Market structure: From 12th September lows to the present lows at 26500 the time BTC consolidated at the lows kept on increasing but in a symmetrical fashion. As you can see in the chart on the 12th September lows it spent 7 bars , on the 24th September lows it spent 16 bars and on the 11th October Lows it spent 23 bars. So, we can deduce a pattern here. 7, 16 , 23 , the next number in the series should be 29. Each number in this series is derived by adding a number from another series 9,7,5,3 .... 2. Time taken from the previous lows to the next highs is constant, that is approx. 30 bars. 3. Percentage move between each low and the next high is also increasing in symmetrical fashion: First move was 6% highlighted in yellow vertical bars, second move was 10%, 3rd Move was 16% , so logically the next number in the series is 24. Each number in this series is derived by adding a number from another series 4,6,8,10 .... Notice the curve shown in cyan color which I have fitted as close as possible to the highs and the lows. So based on this data, we should get out next low on or around 25th Oct and we should spend around 4days consolidating there, then btc should give us an explosive PUMP to 33500 area which is 24% from the anticipated low at 27K on 25th Oct. We can also make following conclusion based on information presented by above parameters: Volatility on BTC has been expanding gradually over time, which is giving us bigger pumps, but we also notice that the time between each high and low remains constant while time spent at the lows increases every time, this tells us that each time the time it will take to pump to new highs will reduce hence giving us increasingly explosive pumps. The target 33500 is also in confluence with the Cyan Curve in the main chart. It is also the measured move of the following large Diamond BTC has been trading in for a long time.
BYBIT:BTCUSD.PLong
by zakoraio
₿itcoin will go | Trade Analysis BTCUSDHello Traders, here is the full analysis. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity BTCUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
BINANCE:BTCUSDLong
by TheGrove
16
BTC has positive signs- The BTC price increase scenario I presented yesterday was completely correct. However, due to the news, BTC price rose faster and stronger than I expected. Stay tuned for today's BTC commentary! * Image D1 above: Yesterday's candlestick D1 was a strong bullish candlestick with a long top shadow, which suddenly increased in volume and closed half of its amplitude. From a technical point of view, this candle shows strong selling forces on the upside, which have succeeded in pushing the price lower and closing half of the range. However, due to the influence of fake news related to the BlackRock Bitcoin Spot ETF, yesterday's D1 candlestick did not have much meaning in terms of technical analysis. - Overall, BTC's short-term uptrend is likely to continue as it is trading in a new price appreciation channel. * Total3 comments (total market capitalization of virtual currencies excluding BTC and ETH) - Total3 is accumulated in the last part of the symmetric triangular model, which is a bipolar model. However, this model was formed during a very long sideways phase, and the BTC trend is currently very positive. From a personal perspective, I'm leaning towards the scenario where his Total3 breaks the ascending triangle pattern. Therefore, I still believe that there will be a wave of altcoin recovery in the near future.
CRYPTO:BTCUSDLong
by Chart_MasterPro
BTC Hovers at $28,000 with Strong ResistanceAs you may already be aware, BTC has reached an astonishing value of $28,000 with an alarming level of resistance. It was due to a fake story of a Blackrock ETF approval story. It is during times like these when it becomes crucial for us to reassess our strategies and approach trading with caution. In light of the current situation, I strongly encourage each one of you to consider pausing your BTC trading activities momentarily. This is not a call to panic or to suggest that the market will crash, but rather an opportunity to reflect on the potential risks involved. As experienced traders, we understand that it is imperative to exercise prudence and vigilance as we navigate the ever-changing dynamics of the crypto market. By pausing our BTC trading momentarily, we can gain a better understanding of the developing patterns and indicators that may guide our future decisions. It grants us the chance to reassess our risk management strategies, conduct thorough analyses, and seek advice from trusted experts in the field. This brief pause can help us avoid impulsive decision-making and allow us to approach the market with a clear and calculated perspective. As we tread this uncharted territory, uncertainty can be overwhelming. However, it is in these challenging times that we have an opportunity to learn, adapt, and grow as traders. Pausing BTC trading now may potentially save us from unforeseen losses and provide us with a chance to regroup ourselves for the next profitable move. Let us remember that our success as traders is not measured solely by our ability to act swiftly, but also by the wisdom and prudence with which we approach the market. So, take a moment and pause your BTC trading activities, reassess your strategies, and embrace this opportunity to ensure the long-term success of your trading journey.
BITSTAMP:BTCUSD
by bryandowningqln
Long trade #14 for Bitcoin BTC price. FOMC Fed rate todayWe have found a very interesting fractal movement of the BTCUSDT price, which now has a chance to repeat itself at least partially. So, we'll try to take a long position. Entry = buy zone $26456-26681 with a potential average price of $26569 Stop = $25764 (-3%) TP = $29180 (+9.8%) P/L ratio = 3.25 We allocate $10,000 for this trade In the event of a mistake, we will lose $300 If the trade will be a success, we will receive a profit of $980 We also remind you that today, 20.09, is the announcement of the new Fed rate. Currently, the market expects the rate to remain unchanged at 5.50%. Therefore, we assume that there will be increased market volatility at 18:00-20:00 UTC, during Powell's speech. We plan to enter the trade on this volatility. We also have a few of our old ideas that "subtly hint" that growth is still possible in the coming weeks: Idea from 03/03/2023 "Inverted Head and Shoulders" The BTCUSDT price has tested the base twice. It's time for the BTC price to grow, the minimum target for this pattern is $40-41k. Idea from 04/28/2023 The BTCUSDT price has been skillfully moving with the green fractal for over six months. If it continues like this, then by the new year, $50-51k is real. Idea from 11/18/2022. The total capitalization of the crypto market. Almost a year ago, the crypto market bottomed out. Since then, the total capitalization has grown by +25-30%, which is not much, to be honest. But if the fractal movement continues, we can see +60-70% in the total capitalization of the crypto market by the end of the year. What do you think about this trade, and what is your vision? Write about it in the comments!
Long
by P_S_trade
37
BTC Bears Back in Control - An Opportunity to ShortI am reaching out to share a concerning development in the cryptocurrency market that has caught my attention, specifically regarding Bitcoin (BTC). As fellow traders who understand the volatility of this market, I believe it is crucial to stay informed and seize opportunities that arise. In recent days, BTC has shown signs of regaining control after a period of uncertainty. This resurgence brings both excitement and a sense of caution. While BTC's ascent may seem promising, it is important to approach it with a discerning eye. Considering the current market conditions, I would like to draw your attention to a potential opportunity: shorting BTC. By shorting, we can take advantage of the market's volatility and potentially profit from a potential decline in BTC's value. This strategy can be particularly beneficial during periods of uncertainty, such as the one we are currently experiencing. I encourage you to carefully analyze the market trends, conduct thorough research, and consult with your trusted sources before making any trading decisions. Shorting BTC can be a complex strategy, so it is crucial to approach it with caution and ensure you are well-informed. If you find this opportunity aligns with your trading goals and risk appetite, I suggest considering a short position on BTC. However, please remember that trading involves risks, and it is essential to make informed decisions based on your own analysis and risk management strategies. Let's stay connected and share our insights and experiences as we navigate through these dynamic market conditions. Feel free to comment below if you have any questions or if you'd like to discuss further.
BITSTAMP:BTCUSDShort
by bryandowningqln
Potential BTC Drop: Brace for a Decline to $20,000As you may be aware, the recent volatility in the cryptocurrency market, particularly Bitcoin (BTC), has raised concerns among traders and analysts alike. Based on our analysis and observations, it is crucial to address the potential risks associated with BTC's current price levels. While Bitcoin has experienced an impressive rally in recent months, surpassing all-time highs, there are indications that a correction may be on the horizon. Our conservative estimates suggest that if BTC falls below the critical support level of $25,000, it could potentially drop further to around $20,000. Considering these possibilities, it is essential to evaluate your investment strategies and assess the potential impact on your portfolio. We strongly advise traders to exercise caution and consider taking appropriate measures to protect their positions. One such strategy that may be worth exploring is shorting BTC. Shorting Bitcoin allows traders to profit from a declining market by borrowing BTC and selling it at the current price, with the intention of buying it back at a lower price in the future. This approach can help mitigate potential losses and even generate profits in a bearish market. While shorting BTC carries its own risks and requires careful consideration, it can serve as a hedge against a potential downturn. We encourage you to consult with your financial advisor or conduct thorough research before implementing any shorting strategies. As always, we appreciate your trust and loyalty. Stay vigilant and stay informed.
BITSTAMP:BTCUSDShort
by bryandowningqln