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BTC Update leading diagonal 5-3-5-3-5The leading diagonal pattern is very similar to the ending one. It consists of five sub-waves, labeled 1-2-3-4-5. Its first wave is usually the longest, while the third wave cannot be the shortest among waves 1, 3 and 5, and waves 2 and 4 are always corrective. Waves 1 and 4 should overlap. There are, however, few notable exceptions. First, leading diagonals occur in the position of the first wave within a regular five-wave impulse or in the position of wave A of a simple zig-zag correction. Second, unlike ending diagonals, where each of the five waves is corrective in nature, the structure of the three motive waves of the leading diagonal – 1, 3 and 5 – can be corrective as well as impulsive.
by GuruWaveAnalysis
BTC – Weekly Perspective – 04/21 to 04/28BTC continues its saga. I believe this is a corrective saga. Being corrective, I believe that the end to this saga is the attempt to have a beautiful bullish rally soon. The FED could help with this "rally". What a thing, right? Monthly bias there is no change in strength, therefore the SETUP used still points to the bulls in the direction of this chart time. On the weekly basis, as I have been saying for some time, we are within a corrective bearish pivot. In principle, everything was normal. When faced with the daily bias, we have the situation in the image below, a bullish pivot, but with an arduous mission, to overcome the 68.4K region to continue with its upward trend without forming the C&H pattern. If you are unable to overcome this region, the correction may take place as shown in the image below. I would like to share a thought of mine with you: "Things should be measured in the long term, but never forget that they start in the short term! Do your analysis and good business. Be aware, if you buy, use stop loss. See other graphical analyzes below
INDEX:BTCUSD
by MacD_Bollinger
Just how bad is it for Bitcoin and the crypto market? - Bitcoin has experienced a significant drop below $60,000 for the first time in a while. - April has historically been a green month for Bitcoin in an election year, but this year it was red, showing a deviation from history. - May is also historically a green month for Bitcoin in election years. - Bitcoin has never played out more than two consecutive downside months in an overall bull market. - The accumulation distribution indicator shows a positive slope, indicating a long-term move to the upside. - The indicator's slope changes in the extreme zones can correlate with macro shifts in direction. - Bitcoin is currently testing prior all-time highs and there should be an opportunity for it to move up again. - The ideal scenario for bullish investors would be for Bitcoin to come down to the red moving average, find a low, and close the month up with a bullish signal. Bitcoin has experienced its first ever red April in an election year, deviating from historical trends. April saw a 15% move to the downside, which is significant. May historically has always printed a green month for Bitcoin in election years, but this may not be the case this year. Additionally, Bitcoin has never played out more than two consecutive downside months in a bull market. The accumulation distribution indicator shows that Bitcoin is likely to move to the upside long term. However, it is uncertain how far down Bitcoin can go before it bounces back up. The red moving average is where Bitcoin bulls should be hoping for a low to be put in before closing the month up, which would signal the market to continue to new all-time highs throughout the rest of the year. Bullet Summary: - Bitcoin experienced its first ever red April in an election year, deviating from historical trends - May has always historically printed a green month for Bitcoin in election years, but this may not be the case this year - Bitcoin has never played out more than two consecutive downside months in a bull market - The accumulation distribution indicator shows long term upside for Bitcoin, but it is uncertain how far down it can go before bouncing back up - Bulls should be hoping for a low near the red moving average before closing the month up to signal continued growth throughout the year.
by Henrywaters
BTCUSD: Targeting $53000 area! Bitcoin has been consolidating within the range of $65,000 to $80,000. There is a possibility that the price may experience a decline and reach levels between $50,000 and $53,000. This range represents a crucial support zone where the price could potentially find support and rebound. It is important to note that market conditions can be unpredictable, especially during holiday periods. Trading volume is likely to normalize after April 2nd. Please always maintain risk management the first priority; only take this idea as a educational purpose and not as a guaranteed success. Wishing everyone a joyous Easter!
BITSTAMP:BTCUSDShort
by Setupsfx_
33
BTC drops further in the next couple of days; rebound next weekThe cryptocurrency trend was mixed over the past 24 hours ahead of the Federal Reserve’s interest rate decision tomorrow. The benchmark interest rate is expected to be left unchanged at 5.25 percent; a 23-year high. Investors will instead carefully analyze the wording about its future path. Some analysts expect three rate cuts later this year, while others forecast one or none as inflation concerns have reemerged in recent weeks. High interest rates do not support risky assets such as cryptocurrencies. Meanwhile, the outflows from the largest spot Bitcoin exchange traded funds (ETFs) approved in the US continued for the fourth consecutive day. Last week, digital investment products (including the above-mentioned ETFs) saw outflows for a third consecutive week, the asset manager CoinShares reports. The majority of the outflows were recorded by the incumbent Grayscale ETF, GBTX, which was converted into an ETF in January. The price of Bitcoin has dropped almost 10 percent over the past month, Trading View’s Bitcoin chart shows but rose 1.3 percent to $63,128 over the past 24 hours. Bearish clouds linger over Bitcoin, Litecoin, Ripple’s XRP, Cardano, Avalanche and the other altcoins covered by ATTMO in the next 24 hours, signaling downside pressure. The sun will break through for Bitcoin not before the next week. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDShort
by ATTMO
BITCOIN DAILY UPDATE.Hello traders, It's the 10th day after the BTC halved, and there hasn't been a significant move in the market. We saw a 5% push right after the halving, but eventually, it dropped by -8%. The current scenario shows good support ranging between $60k to $62k, where we have the 100 EMA as strong support. Once BTC breaks below these levels, we will likely get a confirmation of correction, and the first level of support will be $52k. If BTC maintains the support levels, then we will likely witness a temporary bounce in BTC. The situation is still tight, and the market can lean in any direction. So be prepared. Regards, Team Dexter.
by Dexter_The_Trader
1
Bitcoin Price Prediction !!Bitcoin has been trading sideways within a broad range for an extended period, frustrating traders who have been eagerly anticipating a breakout. The current price action suggests that a significant move, either upwards or downwards, is imminent. In this analysis, we will explore two potential bearish scenarios and one bullish breakout scenario, along with key factors influencing price movements. Key Factors to Consider Declining Bitcoin Dominance: Bitcoin's dominance over the altcoin market is gradually decreasing, indicating a potential shift in investor sentiment. This could lead to a redistribution of funds across the cryptocurrency landscape. RSI Nearing Critical Zone: The Relative Strength Index (RSI) on the weekly timeframe is approaching the 70 level, which is considered a bearish zone. A break below 70, confirmed by a 4-hour candle close, could signal a significant decline in Bitcoin's price. Scenario 1: Bearish Breakdown In this scenario, Bitcoin fails to break above the current range and experiences a bearish breakdown. Rejection at 68,000: Bitcoin could face resistance at the 68,000 level, triggering a drop towards 60,000. This rejection could be due to profit-taking by traders who have accumulated at lower prices. Liquidity Vacuum at 60,000: The 60,000 zone has witnessed significant outflows, with many traders selling their Bitcoin holdings. This lack of liquidity could amplify the downward move. Further Decline to 56,700 and 52,000: If the selling pressure persists, Bitcoin could extend its decline to 56,700 and eventually reach 52,000, representing a significant bearish target. These levels have historical support and could act as potential buying zones. Scenario 2: Temporary Pullback Followed by Rebound In this alternative scenario, Bitcoin experiences a temporary pullback before resuming its upward trajectory. Retest and Consolidation at 73,800: Bitcoin could retrace to the 73,800 area, allowing whales (large cryptocurrency holders) to accumulate and prepare for a potential breakout. This consolidation phase could provide support for the price. Potential Sell-off at 73,800: Once the accumulation phase is complete, a sell-off could ensue, pushing the price back towards 60,000 and 52,000. This sell-off could be triggered by profit-taking from whales or a shift in market sentiment. Bullish Breakout: If Bitcoin manages to close a daily candle above 74,400, it could invalidate the bearish scenarios and potentially signal a breakout towards 81,000, marking the start of a new bullish cycle. This breakout could be driven by positive news, increased institutional adoption, or a surge in buying pressure. Conclusion The current price action of Bitcoin suggests a higher probability of a bearish move in the near term. The declining Bitcoin dominance, the RSI approaching the critical zone, and the historical support levels at 60,000 and 52,000 all point towards a potential downward trend. However, the possibility of a temporary pullback followed by a rebound or a bullish breakout cannot be entirely ruled out. Traders should exercise caution and carefully monitor market developments before making any trading decisions. Disclaimer: This analysis is based on technical indicators and market observations and should not be considered financial advice. Please conduct your own research and make informed trading decisions based on your risk tolerance. Which one do you like?
BINANCE:BTCUSD
by Crypto-Oracle1
BTC in ABC correction wave! Last short movement before new ATH?Hello guys! New trading week started, so finally we can see some clear picture at BTC chart. Seems like we moving in ABC Elliot Correction Wave, now in B wave and seems like we will see C wave this week. Plus we have descending volumes. The area to open position from current price till 67.500$. SL and TP marked at the chart. Important! Always follow RM strategy. Do not trade more than 2% of your deposit! What's your thoughts guys?
BINANCE:BTCUSDShort
by SheTradesHub
2
BTC - ☀️ & Bullish Potential For The Next Week A very strong sun shines over Bitcoin and Chainlink in the next 24 hours, indicating some upside potential lying ahead. Other altcoins, including Ether, Ripple’s XRP and Cardano will also profit from this bullish trend, while Litecoin and Uniswap face bearish clouds. These sunny bullish trading conditions should prevail over the cryptoverse the coming week, as leading tech companies will announce their quarterly results. Avalanche, Binance Coin and Uniswap won’t profit from this bullish mood and face bearish clouds, which signal downside risks. “A massive supply shock is coming. With the Bitcoin halving, miners can now only produce 450 BTC each day. The ETFs in the US have bought up around 3,214 BTC on average each day. This number could increase significantly when Hong Kong ETFs start trading,” the crypto profile Lark Davis said. Analysts at leading banks disagree on whether the price of Bitcoin will continue up following Friday’s halving. Deutsche Bank expects prices to “stay high due to expectations of future spot ether (ETH) ETF approvals; future central bank rate cuts; and regulatory changes” but do “not expect them to increase significantly,” Bitcoin.com reports. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDLong
by ATTMO