Get started

Btcusdlong

BTC Bitcoin - is this the bottom?Today we take a look at the BTC long-term chart compared to the DXY - Dollar Index. Negative correlation The dollar index has a strong negative correlation against the BTC. A negative correlation of -1 means that when DXY makes +1%, BTC makes -1%. In other words, when the dollar rises, the BTC falls and vice versa. Top and Bottom Formations In the chart it is very easy to see when the dollar formed a bottom, BTC formed a top and when the dollar formed a top, BTC found a bottom. Current situation We are currently in a top formation of the dollar and as mentioned several times with BTC, we are also already assuming that BTC is starting to form a bottom. This chart and their history would confirm the bottoming. Further we see also in the lower blue chart the correlation coefficient (+1 to -1). Each time before or during which the bottoms and tops were formed, a positive correlation was found. We can see this right now as well, especially the last 2 weeks BTC was able to build a positive correlation with the Dollar Index. Forecast Even though the long-term indicators are all already bullish and set for a trend change, we are still waiting for now. As in the 2015-2016 BTC bottom, the TOP formation of the dollar took almost 2 years and thus the bottom formation of BTC also took more like 1 year. This could happen this time as well, especially since we expect a strong recession in 2023. Another low to $10,000 to $14,000 is still possible. For all Hodler, it already offers itself to carry out first small long-term entries. We will keep you updated!
INDEX:BTCUSD
by Consyder
BTC is getting ready for the Big moveHi guys, This is Martin, One of the most active trading view authors and fastest-growing communities. Consider following me for the latest updates and Long /Short calls on almost every exchange. I post short mid and long-term trade setups too. Let’s get to the chart! I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice. #BTC UPDATE BTC is forming this big falling wedge pattern what is falling wedge pattern The falling wedge is a bullish pattern . Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. In general, a falling wedge pattern is considered to be a reversal pattern, although there are examples when it facilitates a continuation of the same trend. *BTC Need to Clear the 18,500 Resistance to Confirm the Falling Wedge Breakout * RSI is also sowing some bullish divergences move *If it conform this pattern then according to the pattern we will see good bounce Stay tuned I will keep updating This chart is likely to help you make better trade decisions if it does consider upvoting it. I would also love to know your charts and views in the comment section. Thank you
by MartinTraderc
4
BTC BETWEEN THE RED AND GREEN LINE : 18K THE KEY LEVELBTC did know better times than this, and with the last time's trend, it was able to enter a new uptrend market. The market was looking great, and FTX news did change all where the markets did break down, but what next? BTC is at this moment still positive for a low time frame as long it hit not the red line. The red line means the first confirmation of a downtrend where BTC should not go below 14K, If BTC hit 14K it could break down much more. For now, there is no reason for this breakdown as the price of BTC is above the red zone. Price action to 18K would mean there will be more volume into BTC which could bring BTC back to 22K Until now the trend seems stable and goes between the 2 zones. I call it positive as it has a good chance to return. The study shows as long as the price action is 14k+ means a good chance for a return.
Long
by Goldenbreakout
3