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Btcusdbullish

Bitcoin Sells Off For Demand To Re-Enter:Next Move-Up Likely BIG I noticed on Friday at the NY close when Gold/Silver/Stocks, practically everything sold off as the VIX Index threatened it's climb & got to around 13% on the day. But as NY wound down around 4pm local time, I saw all the Crypto's starting to hammer into green zones. The main reason my feeling is that they had been beaten down severely in price & when price get beaten down, demand starts to increase and buyers swarm in. This is also supported on the higher time frame Stochastic's which I follow - call me old-skool but they tell me a lot. What the Oscillators are telling me about Bitcoin presently is that a further oversold condition needs to occur (only a tad tiny bit more) which is more than likely playing out right now. The demand which enters Bitcoin on this leg down when price gets too hard to turn up, will be a massive turn up in price for Bitcoin. Because of the laws of supply & demand and given that Bitcoin and Crypto are brutally oversold causing buyers to flood in commencing right now, it will be Bitcoin and Crypto that breakout in price way ahead of Silver and Gold in reference to the likelihood of an interest rate cut in just over 10 days time.
EIGHTCAP:BTCUSDLong
by Easy_Explosive_Trading
Don't listen to the doubters on Bitcoin! Daily trend-lines below I don't use trend-lines a great deal, because they are objective and what I mean is that traders have different ideas on where to place them. So I constructed several trend lines on the Daily-chart for BTC USD above 3 lines & below 2 lines. Well guess what? Current price is sitting on the 200 EMA (which looks to be sloping up soon, note that 200 EMA is dead-set horizontal at current price. But there's more guys....... About a week or so on the Daily chart there was a bullish cross up on the MACD. Weekly & Daily RSI levels are sloping upwards and the Stochastics which I mostly follow are doing the same thing. You see, I am a contrarian trader & I think to myself why would traders bid-up the Gold Price a shit-load more this coming week when my Stochastics on the weekly and daily shows its very overbought. Sure, it might run up a bit more at the start of the week. After all it is in breakout territory. I think precious metals investors & banks, market makers will turn their focus to bidding up bitcoin this coming week. Do I know, 100% that it will be Bitcoins turn, of course not. But I will be watching the BTCUSD chart with interest. Also see my other Bitcoin weekly chart which shows the 2024 M-TOP sell-off. The M-TOP bearish pattern played out to an exact 18.8% approx to the downside from the top of system. So, why the hell would price be taken down again. I don't see a bearish H&S or another M_TOP forming. Trade smart guys. Don't be fooled by the so-called experts with their complicated trading styles & busy chart. (I keep it simple & trade the patterns mostly & I watch out for divergences & overbought and oversold areas). I made so much money on gold and silver the last several weeks & mostly this past week, that my broker in a very veiled way (Fusion Markets) showed me the door, here in Australia. I am now with Eightcap. Cheers, Chris. Cheers, Chris
EIGHTCAP:BTCUSDLong
by Easy_Explosive_Trading
1
BTCUSD Bullish Momentum Anticipated from Key Support LevelBTCUSD is currently exhibiting a Harmonic Pattern (XABCD) on the 4-hour time frame. This pattern is characterized by distinct price swings that form geometric structures. As per our analysis, the pattern is nearing completion, with Point D aligning with a crucial support level. Trendline Analysis: In conjunction with the Harmonic Pattern, a trendline has been identified, further reinforcing our bullish outlook. The convergence of the Harmonic Pattern and the trendline at Point D enhances the significance of this level as a potential entry point. Trade Setup: Entry: Long position entry is recommended at 64690, reflecting our anticipation of a bullish momentum shift from Point D. Stop Loss: To mitigate downside risk, a stop loss is advised at 59600, safeguarding against unexpected market fluctuations. Profit Targets: We have identified multiple profit-taking levels to capitalize on potential upward price movements: TP-1: 69760 TP-2: 74834 TP-3: 79870 Rationale: The technical setup indicates a favorable risk-reward ratio, with Point D coinciding with a key support level and the formation of a Harmonic Pattern. This, coupled with the establishment of a trendline, strengthens the bullish bias. Conclusion: In summary, based on the analysis of the Harmonic Pattern formation and trendline dynamics, we advocate for a long position in BTCUSD with an entry at 64690 and stop loss at 59600. Profit targets are set at 69760, 74834, and 79870, reflecting our expectation of a bullish trend continuation from Point D. As always, prudent risk management is advised to navigate market volatility effectively.
BINANCE:BTCUSDLong
by trading_jupiter
#BTCUSDT Long#BTCUSDT We have the cup model configured perfectly. The cup hand was formed and the breakout to the upside occurred We have upward momentum and there are target areas that can act as a resistance area as well as a rebound point if we fail to break through it. We have the 49,000 level as an initial target and resistance area at the same time If we succeed in breaching it, we have a target for the previous peak, level 68,000. In the event of a rebound from the 49,000 level, it is expected to touch the rising trend You must pay attention to the retracement areas to benefit from the best retracements. As well as exploiting the penetration of those levels
Long
by CryptoAnalystSignal