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Btcusdidea

BTCUSD: Feb 3 update & Feb 4th + 5th ProjectionI am an amateur technical analyst. This is not financial advice. You should always do your own research. Consider this post as entertainment. I'm simply sharing what I see in the charts and always welcome collaboration and feedback. Updating my previous post of Feb 3rd. BTCUSD stayed within the fractal and yesterday went the full depth of the fractal bar. So far, the fractal remains intact as the market continues to work within the pattern of the May '21 fractal. Based on the fractal pattern, today and tomorrow should be up days. There's a possibility that we reach as high as 41,250, which is the upper trend line above the pattern, and would be slightly above tomorrow's daily bar. After tomorrow, the pattern indicates a gradual decline until Feb 21st. Feb 21st then offers the opportunity for a reversal and potentially the launch pad for ALT season.
BITSTAMP:BTCUSD
by CryptoWarrior9869
Time to short bitcoin before a massive dump- Weakness so clear to break 40k. - Will visit 33k first or below before any upside move. - Not able to break EMA 100 after testing on 4hr time frame. - Downtrend still valid since 69k peak. - lower highs & higher lows ( 4hr - 1D timeframes) - Stock market is not good and crypto will follow. - Fear & greed index went slightly higher since last massive dump to go down again. - Therefore, ready for a big short. short:✅ 38.5k - 37.7k ✅ 🎯TARGETS: 1- 36,700 2- 35,800 3- 33,000 💵 Leverage: 3x - 5x 🚫Invalidation(SL): 39,480
Short
by BTC-fire
BTC TO CHOOSE A DIRECTION!As I said previously on my idea, btc dropped correctly at the 35-36k level and kept it to bounce back to new highs, However we are still looking at a rising wedge pattern in the 4h chart and coordinated with a strong resistance which indicates reversal point on the daily chart that needs to be broken but it has not been broken in a while. I remain kind of neutral in the market but I expect 2 scenarios playing out. First Scenario- As seen in the chart, I expect Head and shoulders pattern forming, indicating that BTC will probably fall out of the wedge and bounce at 37.1k support up to 38k before falling again to the 35k, which may be a strong area to bounce back and trap the bears not going down. Personally I think this will happen and then we need to watch out the 35k level because if it does not hold, 30k is the target. Second Scenario- Be careful with the breakout! If it breaks the level of 40k, it may be a trap for the bulls as it has happened before and this pattern looks perfect to do that, especially on the daily. Volume is declining and an upward movement could be the perfect trap for the bulls and also shaken the shorts. Trade with SL, trade smart and don't FOMO. If you can not choose a side, better watch firstly.
by UnknownUnicorn17670525
Bitcoin- will it finally break up?As I said yesterday, a sell at 40k is too obvious and as I don't believe in "buy here, is the bottom", some I don't believe in "sell here, is the top". Technically, from the 33k recent low, BtcUsd is trading upwards and is drawing an ascending triangle on our chart and we can clearly see that the dips are bought. A break above 39k should accelerate gaines and the target for the pattern is 44k. To buy on a break can be a good strategy for short term traders
BITSTAMP:BTCUSDLong
by Mihai_Iacob
38
Can Bitcoin rise above 40k?After a short-lived drop under 34, Bitcoin has reversed and now is a correction mode, and, considering 3 consecutive red months, this is pretty normal. Although dips are bought, and we can clearly see this, I'm not convinced that this is the start of a new bull leg. At this moment BtcUsd is trading around 38k and a run above 40k would mean only 5%, which is nothing if we look at its usual volatility. Also, such a run would be a perfect bull trap, giving the impression that what was worst is behind us. Technical resistances are at 41 and 45k and, ONLY above 45k I would start question my bearish outlook
BITSTAMP:BTCUSDShort
by Mihai_Iacob
19