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Bitcoin: Strong Bullish Momentum AheadBTCUSDT technical analysis update Currently, Bitcoin has been trading within a range for the past 200 days. From March 2023 to October 2023, the price fluctuated between GETTEX:25K and $32K for 224 days before breaking the range and bouncing over 130%. Now, we are observing a similar pattern, with Bitcoin trading inside a rectangle since February, between $53K and $73K. The price is approaching a potential breakout, which could occur within a month. Once the breakout happens, we may see a strong bullish move. Regards hexa
Long
by HexaTrades
Bitcoin (BTC/USDT) on daily chart - technical analysis+price preTechnical analysis Bitcoin (BTC/USDT) on daily chart by Blaž Fabjan Price Range: The chart shows a long-term descending channel with resistance at the upper trendline and support at the lower trendline. The price is oscillating between these two levels. Current Price: $63,532.74 as of the timestamp on the chart. Support and Resistance: Resistance is marked around $68,000 to $70,000. Support is marked around $55,000. Indicators Used: RSI (Relative Strength Index): The RSI is currently around 63.05, showing slight bullish momentum but nearing overbought conditions. Stochastic Oscillator: It shows an overbought condition with values above 80, indicating the potential for a pullback. VMC Cipher_B_Divergences: This is a volume momentum indicator, showing possible divergence signals, with some indications of bullish divergence. Patterns and Predictions Channel Pattern: The price has been respecting the descending channel with a number of touches on both resistance and support lines. Currently, the price is near the midline of this channel. Potential Move: In the short term, the price could follow the channel’s structure and retest the support around $60,000 or even $55,000. After touching support, a potential bounce is expected, which could lead the price to test the upper resistance of the channel at $68,000–$70,000. Trading Plan Short-term Bearish Scenario: Entry: Consider entering short positions if the price fails to break the mid-channel line (around $64,000) and shows signs of reversal, with targets around the $55,000 support. Stop-loss: Set a stop-loss just above the resistance line at $68,000. Take-profit: Look to take profits around $60,000–$55,000, depending on risk appetite. Long-term Bullish Scenario: Entry: If the price successfully tests support ($55,000) and shows bullish reversal signals, consider entering long positions. Stop-loss: Place a stop-loss slightly below the support zone ($52,000). Take-profit: Initial target could be the upper boundary of the channel at $68,000, with an extended target beyond $75,000 if the price breaks out from the descending channel. Breakout Scenario: A breakout above the $70,000 resistance with strong volume could indicate the start of a bullish trend reversal. Entry: Consider entering a long trade on the breakout above $70,000. Take-profit: Target $75,000 to $80,000. Risk Management: Given the overbought conditions on the stochastic indicator, caution should be taken with long positions unless a strong confirmation of support bounce occurs. Monitor volume and divergence signals from the VMC Cipher_B_Divergences indicator for additional confirmation. This analysis assumes a near-term continuation of the channel pattern, with a possible bullish breakout in the longer term if price action shows strength at key levels.
Long
by elfabiiani
BTC Bitcoin Technical Analysis and Trade Idea👀 👉 BTC has recently broken market structure to the upside, signalling a potential bullish opportunity. The breakout is evident on both the daily and 4-hour charts, suggesting a buying setup could be forming. In this video, we’ll analyse market structure, price action, and focus on the prevailing trend. We’ll also highlight a potential trade setup, contingent on the price action aligning with our outlined scenario. **Disclaimer:** This content is for educational purposes only and should not be interpreted as financial advice. 📊✅
Long
by fxtraderanthony
BTC: Still Under Pressure. Must Break above the 100 EMA!Hello Traders, I hope you are all doing well. If you have followed my previous BTC update, you'll know how strongly the 100 EMA is holding the price. This is the second attempt where BTC has tried to break above the 100 EMA ($60.7k), but it is still unable to do so. According to our analysis, BTC must break above this resistance on the daily chart to reach the $68k-$69k target. If not, a rejection is likely. Note: Expect volatility in the market over the next few hours. Be cautious and do your own research before investing. - Current Resistance: 100 EMA at $60.7k. - Bullish Scenario: A daily close above the 100 EMA. - Bearish Scenario: A rejection below the 100 EMA. Trade Safely.
by Dexter_The_Trader
More pain before we SoarHere in this chart, I have mapped out the price points to keep an eye on. I like the 53k-55k range and believe it is extremely bullish for us to stay above it but the longer we linger here... the more likely we are to break down. Down would be to 48k support which is not as strong as some may think. I am still keeping an open mind to the possibility of an event where we don't have a normal cycle that rallies into the next year post-cycle but instead a drastic dip back down to reality at 38k - this is also a worst-case scenario and possibly the disbelief phase of the cycle. Or I can always go with my gut and say that we already had a short-lived bull market these past few years.
COINBASE:BTCUSD
by RetiredNovice
Bitcoin (BTC) analysis | What will be the next move?Looking at the 4-hour chart of Bitcoin, we see upward fluctuations from the price of $52,000 to the price of $60,000. Bitcoin has now reached its dynamic range and is engaged with this resistance zone. As can be seen in the chart image, Bitcoin is expected to face an increase in supply from the specified resistance range at the price of $62000-$63000 and make a corrective movement towards the specified support areas and levels. What do you think? I would be happy to hear your opinion
by parhamnb
2
Bitcoin September 17th 20241. Price Action (Candlesticks): Current Price: The price is hovering around $60,141.67, as indicated by the highlighted value. Recent Trend: The candlesticks suggest that Bitcoin has been in a sideways trend for the past few weeks. The price seems to be bouncing between support at around $52,500 and resistance at $66,000. Downward Correction: After hitting the recent high around $66,000, a correction seems to have taken place, as indicated by multiple bearish candles. However, Bitcoin hasn't broken down into lower support levels, suggesting a consolidation phase. 2. Moving Averages (MAs): White Line: The white line appears to be a long-term moving average (likely a 200-week moving average), which is far above the current price. This implies that Bitcoin's price is still significantly below its all-time highs and could indicate a potential upward target if a bullish trend resumes. Yellow Line: The yellow line could be a shorter moving average (possibly 50-week), which is closer to the current price and appears to be acting as resistance in recent weeks. Interaction with MAs: The current price is struggling to stay above the shorter MA (yellow), which suggests that Bitcoin may face more selling pressure if it fails to hold support above it. 3. Indicators: MACD/RSI at the Bottom: The red and green indicator at the bottom seems to be either an RSI (Relative Strength Index) or MACD (Moving Average Convergence Divergence). The red shaded area indicates a bearish trend, while the green shows a bullish trend. Since the red is dominant and the indicator is trending downward, this points to a period of bearish momentum. The RSI, if that's what the indicator represents, looks to be below the midpoint (around 50), suggesting that Bitcoin is not in overbought territory, but also not deeply oversold. It signals weak momentum in the recent period. 4. Support and Resistance: Support: There is solid support around the $52,500 level, as seen in previous price action where Bitcoin bounced several times. Resistance: The $66,000 level seems to be a significant resistance, as price has failed to close above it in recent weeks. Breakout/Breakdown Potential: If the price breaks below $52,500, we could see a deeper correction, potentially testing lower support levels (around $40,000 or even lower). Conversely, if it breaks above $66,000 with strong volume, Bitcoin could head toward $74,000 or beyond. 5. Volume: The volume data is not visible in this screenshot, but low volume during this consolidation phase would indicate indecision or a lack of strong buying interest, while increasing volume on upward moves would signal potential breakouts. 6. Longer-Term Outlook: The long-term moving average (white line) remains above the current price, indicating that Bitcoin's overall long-term trend is still upward, even though there's short- to medium-term bearish pressure. If Bitcoin can hold the $60,000 range and break the $66,000 resistance, it could retest the highs and continue its uptrend. However, failing to do so might signal a longer consolidation period or even a deeper correction. Summary: Bitcoin is in a consolidation phase after a recent correction, with key support at $52,500 and resistance at $66,000. Momentum indicators suggest the trend is currently weak and slightly bearish. A breakout above $66,000 could lead to a continuation of the uptrend, while a breakdown below $52,500 would signal further bearish action. This chart presents a critical moment for Bitcoin, where the market is waiting for a decisive move in either direction.
INDEX:BTCUSD
by ILL_Midas
BTC/USD 4H Short Trade Setup: Anticipating a Momentum ShiftThe trade seems to be based on a potential rejection or weakness in the current price action, with targets likely set to take advantage of a downward movhart setup: Analysis: 1. Entry Point: The trade might have been triggered around the current price level, where the market shows signs of stalling or reversing. 2. Stop-Loss: Placing the stop-loss above the recent highs ensures protection against a false breakout or unexpected upward movement. 3. Take-Profit: The take-profit targets could be set at key support levels or based on Fibonacci retracement levels, considering the recent price action. 4. Risk Management: As always, managing risk properly is crucial, so partial profits can be taken along the way, and stop-loss levels can be adjusted to secure gains if the price moves in your favor. 5. Market Conditions: We may stay in a range before the anticipated move happens. This is going to be a short trade, aimed at catching some momentum for the start of the week. I might close it early depending on how the momentum develops, so it’s important to stay flexible and adapt to the market conditions. This trade anticipates a possible range-bound movement before a momentum-driven shift occurs. Given the nature of the setup, it may be a brief trade aimed at capturing the initial momentum of the week. The position might be closed early, depending on how the momentum unfolds. Stay vigilant and be ready to adjust based on market conditions. Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
BShort
by AR33_
1
BTC Bitcoin In-Depth Analysis and Trade Idea👀 👉 Navigating Key Market Levels with Bitcoin Bitcoin (BTC) has broken market structure to the upside. On both the daily and 4-hour charts, we see a pullback into equilibrium, offering a potential buying opportunity. In this video, we dive into market structure, price action, and, most importantly, the trend. We also discuss how smart money has been targeting stop losses recently. The goal is to set up a trade that minimizes the risk of a stop run without compromising our risk-to-reward ratio. *Disclaimer: The information shared in this video is for educational purposes only and does not constitute financial advice. Always perform your own analysis or consult a financial advisor before making trading decisions.* 📊✅
Long
by fxtraderanthony
2
BTC: Aiming for $67k-$68k!BTC Update: Bitcoin is moving as expected. Yesterday, it made a sudden drop but quickly recovered. The current price of $58.1k needs to move strongly to continue the rally. The RSI continues to gain bullish momentum and still has room to grow. The target of FWB:67K -$68k remains unchanged. I'll provide updates on the altcoins shortly, so stay tuned. If you have any requests for specific altcoins, let me know in the comments or via DM. Regards, Team Dexter #BTC #CryptoInvestor
Long
by Dexter_The_Trader