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BTC Bitcoin Technical Analysis and Trade Idea👉🔍We can observe that Bitcoin (BTC) has been in a bullish trend recently and has retraced to a key support level. In the video, we discuss market structure, price action, and the trend. I'm expecting to see a potential reaction and an opportunity to go long if the price action unfolds as described in the video. As always, this is for educational purposes only and should not be considered financial advice. 📊✅
FOREXCOM:BTCUSDLong
by fxtraderanthony
BITCOIN Potential SkyrocketIn the monthly time frame, Bitcoin looks bullish. The price of BTC is consolidating between the resistance zone (Blue) at $71,225.18 - $73,849.29 and the support zone (Green) at $58,694.30 - $60,594.35 for the last 5 months. If you look at the chart, the price of BTC did not close under the support zone (Green) not a single time. On the chart, a bull flag pattern is forming. This pattern is a continuation that typically indicates a bullish trend. The pattern is characterized by a steep price increase (flagpole) followed by a declining-trending consolidation phase (flag). According to the chart, Bitcoin had a strong upward movement that resulted in the formation of the flagpole. After that, it entered a consolidation phase, where many monthly candles moved horizontally and then slightly downward to form the flag. If BTC breaks out above the resistance zone (Blue), it could lead to a significant upward movement, continuing its previous uptrend. This is supported by the red arrow projecting upwards on the chart, indicating the potential for a breakout. A successful breakout would likely be accompanied by increased trading volume, reinforcing the bullish trend. However, a bearish scenario is also possible. If BTC fails to break out of the consolidation phase and drops below the support zone (Green), the bull flag pattern could be invalidated. This could lead to further downward movement, testing lower support levels. If the bull flag pattern is completed, the chart indicates a bullish view for Bitcoin, with the possibility of a breakout above the resistance zone (Blue). To confirm a breakout, traders should keep a close eye on the price activity near the resistance zone (Blue) and watch for higher volume.
Long
by TheCryptoCity
BTCUSD Bearish Flag Pattern Bearish Flag Pattern in BTCUSD The BTCUSD chart is currently forming a bearish flag pattern, indicating a potential continuation of the downtrend. With Bitcoin's price hovering around $64,300, this pattern suggests that the market is likely to break out below the lower boundary of the flag, potentially targeting $62,000 or lower. Key Characteristics: Flagpole: A sharp decline from $66,500 to $64,500, marking the beginning of the pattern. Flag: A consolidation period that slopes upward, against the prevailing downtrend, currently bound by $64,000 and $64,500. Parallel lines: The flag is bound by two parallel lines, creating a channel-like structure. Bearish bias: The pattern has a bearish bias, indicating a potential continuation of the downtrend. Interpretation: The bearish flag pattern in BTCUSD suggests that the market is likely to continue its downtrend, potentially leading to a breakout below $64,000. This breakout is often accompanied by increased volume and momentum, confirming the continuation of the bearish trend. Trading Strategy: Sell signal: Enter a short position when the price breaks out below $64,000. Stop-loss: Set a stop-loss above $64,500. Target: Set a target based on the height of the flagpole, projected from the breakout point, potentially targeting $62,000 or lower. Risk Management: Set a stop-loss to limit potential losses if the breakout fails. Adjust position size based on market volatility and risk tolerance. Consider scaling out of the position as the target approaches to lock in profits.
BINANCE:BTCUSDShort
by Pipsview_Analysis
Ether's BTC-Denominated Price Flirts With 9-Year-Long Trendline Ether's and bitcoin-denominated market price, the ETH/BTC ratio, is flirting with a bullish trendline drawn from 2016 and 2017 lows, offering hope to bulls on the second-largest cryptocurrency by market cap. Since January, the trendline has consistently restricted the pair's downside in a pattern reminiscent of 2019-20. Back then, it served as an accumulation zone, eventually leading to a renewed bull market in the first half of 2021, as shown by a chart sourced from TradingView. A monthly chart of moving average convergence divergence (MACD) histogram, an indicator used to gauge trend strength and changes, favors
BINANCE:BTCUSDShort
by ShumbaFx07
Ether's BTC-Denominated Price Flirts With 9-Year-Long Trendline Ether's and bitcoin-denominated market price, the ETH/BTC ratio, is flirting with a bullish trendline drawn from 2016 and 2017 lows, offering hope to bulls on the second-largest cryptocurrency by market cap. Since January, the trendline has consistently restricted the pair's downside in a pattern reminiscent of 2019-20. Back then, it served as an accumulation zone, eventually leading to a renewed bull market in the first half of 2021, as shown by a chart sourced from TradingView. A monthly chart of moving average convergence divergence (MACD) histogram, an indicator used to gauge trend strength and changes, favors
BINANCE:BTCUSDShort
by ShumbaFx07
Hash Ribbons Signal Potential Bitcoin Bull RunMiner Capitulation Ends, Igniting Bullish Outlook The cryptocurrency market is abuzz with excitement as a key indicator signals a potential turning point for Bitcoin. The Hash Ribbons indicator, a tool used to measure miner capitulation, has recently shifted into a bullish "buy" signal. This development, coupled with other positive market trends, is fueling speculation of an imminent Bitcoin rally. The Hash Ribbons indicator tracks Bitcoin's hashrate using two moving averages: a 30-day and a 60-day. When the shorter moving average dips below the longer one, it typically signals miner distress and potential market downturn. Conversely, when the 30-day average surpasses the 60-day, it historically marks a "buy" signal, often preceding significant price increases. The recent shift to a bullish signal indicates that miners may have weathered the storm, and Bitcoin could be poised for an upward trajectory. This positive development is further reinforced by evidence suggesting the end of miner capitulation. Miners often sell their Bitcoin holdings during periods of low profitability to cover operational costs. When this selling pressure subsides, it can lead to a price increase as the supply of Bitcoin available for sale decreases. Market Enthusiasm Amidst Uncertainties While the Hash Ribbons signal and the apparent end of miner capitulation are undoubtedly bullish indicators, it's essential to consider the broader market context. Several factors could potentially dampen Bitcoin's momentum. One significant concern is the impending payout of claims from the collapsed Mt. Gox exchange. A substantial amount of Bitcoin is expected to be released into the market, which could exert downward pressure on prices. Additionally, the potential approval of Ether ETFs in the United States has introduced a new element of uncertainty. While this development could benefit the broader cryptocurrency market, it may also lead to increased volatility in Bitcoin's price. Despite these potential headwinds, the overall sentiment among market participants appears to be optimistic. The Hash Ribbons signal has generated significant buzz, and many analysts believe that Bitcoin is primed for a substantial rally. However, as with any investment, it's crucial to approach the market with caution and conduct thorough research before making any decisions. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should carefully consider their risk tolerance and investment goals before allocating funds to Bitcoin or any other digital asset. While the Hash Ribbons indicator and other positive factors suggest a potential bullish trend, it's essential to remain vigilant and monitor market developments closely. Ultimately, the future of Bitcoin's price is difficult to predict with certainty. However, the recent bullish signals provide a glimmer of hope for investors who have weathered the cryptocurrency market's ups and downs. As the market continues to evolve, it will be fascinating to see how Bitcoin responds to the challenges and opportunities ahead.
BITSTAMP:BTCUSDLong
by bryandowningqln
Is the Bitcoin Bull Run on Fumes? Bullish Wedge?Bitcoin (BTC), the enigmatic pioneer of cryptocurrencies, has captivated investors with its volatile price swings and potential for massive returns. After a strong incline in recent months, questions are swirling about the sustainability of this bullish trend. One technical analysis pattern catching attention is the bullish wedge, and its potential to signal a reversal. The Bullish Wedge: A Double-Edged Sword The bullish wedge is a chart pattern formed by two converging trendlines, one acting as resistance and the other as support. While it initially suggests a continuation of the uptrend, a breakout from the lower trendline can indicate a potential price decline. Here's why the bullish wedge is a double-edged sword for BTC investors: • Continuation Pattern: If the price breaks above the resistance line with increasing trading volume, it can be interpreted as a confirmation of the bullish trend. This would suggest that buyers are accumulating BTC at higher prices, potentially pushing the price further upwards. • Reversal Pattern: A breakdown below the support line, particularly with significant selling volume, could signal a trend reversal. This would indicate that sellers are overpowering buyers, potentially leading to a price decline. Is This the End of the Bull Run? Whether we're witnessing the tail end of the BTC incline depends on several factors: • Price Action at the Wedge: Closely monitoring the price action at the wedge's apex (the point where the trendlines converge) is crucial. A clean breakout above resistance with strong volume suggests a continuation of the uptrend. Conversely, a forceful breakdown below support with high selling pressure indicates a potential reversal. • Technical Indicators: While the bullish wedge is a valuable tool, it shouldn't be used in isolation. Combining it with other technical indicators like the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD) can provide a more comprehensive picture. Overbought readings on the RSI or bearish divergences on the MACD could signal a potential reversal despite the wedge pattern. • Fundamental Factors: External factors like regulatory changes, institutional adoption, and broader economic conditions heavily influence the cryptocurrency market. Positive news on these fronts can bolster the bullish momentum, while negative developments can trigger a sell-off. Beyond the Bullish Wedge: Other Considerations Predicting the future of Bitcoin is notoriously difficult. Here are some additional factors to consider: • Market Sentiment: Bullish sentiment can fuel upward price movements, while bearish sentiment can lead to a decline. Gauging investor sentiment through social media analysis or news outlets can provide valuable insights. • On-chain Analysis: Analyzing on-chain data, such as active addresses or exchange inflows/outflows, can reveal investor behavior and potential buying or selling pressure. Navigating the Uncertainty: What Investors Can Do While the bullish wedge presents a potential turning point, it's not a guaranteed indicator. Here's what investors can do: • Employ Risk Management: Always implement stop-loss orders to mitigate potential losses if the price falls below a certain level. • Diversify Your Portfolio: Don't put all your eggs in one basket. Diversify your crypto holdings and consider other asset classes to manage overall portfolio risk. • Stay Informed: Keep yourself updated on the latest developments in the cryptocurrency space, including technical analysis, market sentiment, and regulatory changes. Conclusion The bullish wedge presents an intriguing scenario for Bitcoin's price trajectory. While it raises the possibility of a trend reversal, a confirmation requires a breakdown below support with significant selling pressure. By combining technical analysis with other factors like market sentiment and fundamental analysis, investors can make informed decisions. Remember, the cryptocurrency market remains highly volatile, and a healthy dose of caution is always advisable.
BITSTAMP:BTCUSD
by bryandowningqln
BTCUSDT ⚡ Channel Pattern SpottedHey guys! At this very moment, we are in the middle of almost everything so you don't want to get caught on the wrong side of the trade. Better be safe than sorry. Having said that, here's my idea about what we are looking at right now. 1) There's a channel marked by green lines as shown in the chart. If you can see this, you'll notice whenever price touches the upper line it gets rejected and whenever it touches the lower band it bounces back inside the range. We can buy when price hits there and sell whenever it touches the upper resistance channel range. A deal breaker would be either a breakdown of the channel or breakout of the channel. 2) TARGETS if price keeps respecting the channel pattern, would be at the top resistance line to take profits as a buyer and viceversa as a buyer taking entry trigger a candlestick pattern on the lower band of the channel. This idea is to spot for the long term. This asset is still in balanced mode, there hasn't been a breakout of the range yet. However, it's worth to note that there's a channel pattern playing out, right now. Hope you find it useful and be able to take advantage of this idea. Kina Tip of the Day: Take profits partially even when they don't seem much because in the long run they will grow in a balanced way with the rest of the portfolio. Keep it shiny ⭐ Kina, The Girly Trader
Long
by KinaStar
4
BITCOIN more gain According to the chart, And Considering that there has been significant volume in the price over the past few days, And important resistance levels have been broken on the daily timeframe, We can expect further upward movement towards higher prices. 🚀 On the other hand, We might also witness the formation of a new parallel channel and consider a ranging market too 📚💡 📖💡 Feel free to express your perspective by commenting below. Thanks! 🐋
Long
by MadWhale
8
BTC: Gearing up to hit the All-Time High#Bitcoin has formed an inverse head and shoulders pattern. The breakout is on the upside, and the price is currently testing the trendline. If BTC manages to stay above the $66.5k support level, we are likely to see a rally attempting to break the all-time high level at $63.7k. Trading Strategy: Entry: $66.3k to CMP. SL: $65.4k. Leverage: 5x to 10x. Targets: $69.6k, $71.4k, $72.5k, $73.7k. Not financial advice. Trade safely. Regards, Team Dexter. #BTC
Long
by Dexter_The_Trader
BTC: The struggle is real.#BTC is unable to break above the FWB:65K resistance. Yesterday, we saw BTC reaching as high as $66k, but eventually, the daily close happened below $65k. As I mentioned earlier, if BTC fails to break and close above the FWB:65K resistance, we are likely to see a rejection soon. On the other hand, a successful break and close will once again test the $70k resistance trendline. Be cautious and trade safely. Not financial advice. Regards, Team Dexter. #Crypto
Short
by Dexter_The_Trader
2