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Bitcoin(BTC/USD) Daily Chart Analysis For Week of Feb 2, 2024Technical Analysis and Outlook: During this week's trading session, Bitcoin has been experiencing a very tight trading range. Its progress has been obstructed by our Mean Res 43200, which has been causing a significant block jam. However, the market is anticipating a strong push through the Inner Coin Rally 44200, propelling the prices towards Mean Res 47000. This move is expected to be followed by a retest of the completed Outer Coin Rally 47500, which would signify a noteworthy milestone for Bitcoin's upward momentum. In case of a downside, the coin may retest a Mean Sup 42000 before continuing its upward trend.
BITSTAMP:BTCUSD
by TradeSelecter
BITCOIN Cycle Phases like you've never seen them before!On today's post we are basically upgrading our previous analysis (see chart below) with the addition of actual circle shapes on Bitcoin's (BTCUSD) Cycles and pies on their phases: As you can see this reveals a groundbreaking illustration of the historic Cycles. We don't want to get you in the technical details of the trend, you can find everything by clicking on our previous publication. But as you can see, on top of the tradition measuring of the Cycle phases (Bear, Accumulation, Bull), we have place Wedges/ Pies that fit into the actual Circles. Those Circles (as well as the pies naturally) are all the same size/ symmetry, which just goes to show you how similar BTC's Cycles are despite the different news and fundamentals that take place during each Cycle. We use a Double Circle pattern to demonstrate more vividly the Cycles. Most of BTC's price action tends to be within that Zone that is made, even the 2018 - 2021 Cycle, despite the notable divergencies during the Accumulation (Libra euphoria) and Bull (Musk, Tesla adoption) phases, it eventually fell back within the Channel. The presentation also reveals Bitcoin's current position relative to the previous Cycles (black "We are HERE" arrow). That's near the end of the Accumulation Phase, only a few weeks before the Halving, above the 1W MA50 (blue trend-line) and within the 0.618 - 0.5 Fibonacci Zone. The upside is enormous and since the price is above the Circles Channel as during February 2020, who is to say we won't see another outperformance, especially if positive fundamentals hit the market (ETF approvals already, potential Rate Cuts, more news of adoption every day etc). But what do you think? Is this Cycle presentation accurate and if so are you expecting a massive rally as we approach the Halving? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
29
Make or break momentMultiple developments are catching our attention as Bitcoin trades near the lower bound of the upward-sloping channel. First, for the past twelve days, there has been one of the most aggressive increases in the number of Bitcoin addresses with balances exceeding 1,000 BTC; at the same time, the opposite has been happening among the addresses with balances exceeding 100 BTC, which have been falling (with the decline becoming more rapid in the past three or four days). Second, the RSI has failed to distort a bearish structure on the daily chart, and MACD has failed to break above the midpoint. Simultaneously, the ADX has kept declining, suggesting the trend is relatively weak (whether bullish or bearish). As a result of a relatively ambiguous picture, we think the current situation presents both bullish and bearish setups concentrated around the price action near the channel’s lower bound. Illustration 1.01 The picture above shows the daily chart of BTCUSD’s RSI. So far, it has not broken above the resistance and distorted the bearish structure. Illustration 1.02 The illustration above shows the bearish setup, which involves taking a short position with the breakout below the channel's lower bound and placing a stop-loss above it, targeting the recent lows near $38,500 (of course, the setup’s strategy can also be reversed into a bullish trade, with opposite conditions, targeting $48,000). However, it is important to note that this bearish setup is very risky, considering the recent rise in the number of big speculators. Technical analysis gauge Daily time frame = Neutral Weekly time frame = Neutral *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of multiple indicators. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
2
Bitcoin attempts to reenter the upward-sloping channelBitcoin edged higher over the weekend, briefly reentering the upward-sloping channel. At the same time, the number of Bitcoin addresses with balances exceeding 100 BTC and 1,000 BTC increased, suggesting big speculators might not be satisfied with the price yet to unload their newly acquired tokens during the dip. Therefore, our focus is on the lower bound of the upward-sloping channel. It will be positive if Bitcoin manages to break and stay above it. The same applies to technicals like RSI, MACD, and Stochastic if they continue reversing to the upside and growing. Nevertheless, a failure of the price to get back into the channel and a decline in the mentioned technicals will raise our concerns. We will update our thoughts as things progress. Illustration 1.01 Illustration 1.01 shows the daily graph of BTCUSD’s RSI. A breakout above resistance will bolster bullish odds for Bitcoin. Contrarily, a failure will strengthen a bearish case. Illustration 1.02 The image above displays the daily chart of BTCUSD’s MACD. A crossover above the midpoint will be bullish, while a failure will be bearish. Technical analysis gauge Daily time frame = Neutral Weekly time frame = Neutral *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of multiple indicators. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSD
by Tradersweekly
2
BITCOIN Weekly Outlook 29/01/24'Hello everyone, new week, new BITCOIN update. Hope everyone doing great! ____________________________________________________ This week should be lot of FUN, due to FED meeting at Wednesday, Im expecting increase in volatility so I suggest to everyone act accordingly. So as I ment in Last Update, there was increased chance of retracing back to Highier prices, due to expected News last week.. and we rallied aproximatly where I eyed between 44-42k$. In fact, we came back to almost exact Price, where I was firstly highly persuaded that we are in Great Odds for Short trade, thats why I suggested to use Trailing Stop Loss, to bag some of profits while we benefit from them. So everyone who did, good job guys. So, as for RIGHT NOW , I think, we came back to great SHORT area, BUT we need to remember, that there is still potentional of going to Highier prices (44k$ area). We cant forget that! So if you decide to Short market, YOU HAVE TO USE STOP LOSS!!! Especially, when there is most likly volatility spike coming, due to FED meeting mid-week.. So, IF I was opening Short right now, I would check Lower timeframes (15minutes/5min), to found Price where STOP LOSS WILL BE!! Reason behind that is, IF I expect Market to going Lower before Meeting is done, THEN price SHOULD NOT going back highier about price I picked. PRICE I would choose right now is around 42599,99$ .. which is around 1% from where Price is Right Now, and its Representing area around Weekend Highs.. and so IF we expecting Start of Week to going Lower, this Price range SHOULD NOT BE TOUCHED... IF IT IS, there is possibility of going to Highier price ment earlier.. So STOP LOSS protect us from unnecessarly damage and we can adjust with NEW trade in CORRECT time LATER! So again, BE CAREFULL with opening new trade right now, it can start moving real quick. Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSDShort
by cryptocapitaltrading
Bitcoin USD Dollar AnalysisIn the following chart on BTCUSD I'm trying to visually breakdown and identify certain emotional patterns that triggered break-outs. These patterns turn from resistance into support and seem to somewhat repeat. Could we see a similar H&S structure on this current local top? I'm no fortune teller, but with a good risk-management and strategically put positions we can trade the speculation in a high reward opportunities. May the trades be with you, TheTrex.
BITMEX:BTCUSD.P
by TheTrex
1
CFXUSD Fierce consolidation. Trade the break-out.Conflux (CFXUSD) has been consolidating around the 1D MA50 (blue trend-line) while holding the 1D MA200 (orange trend-line) as its Support. A simple break-out trading plan should be applied here. If the price closes a 1D candle below the 1D MA200, we will sell and target the top of Support Zone 1 at 0.1150. If it closes above Resistance Zone 1, we will buy and target the bottom of Resistance Zone 2 at 0.4000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:CFXUSD
by TradingShot
2
CFX/BTC - Conflux Network: Trend Reversal◳◱ On the $CFX/ CRYPTOCAP:BTC chart, the Trend Reversal pattern suggests indications that the trend may be gaining or losing strength. Traders might observe resistance around 0.00000526 | 0.000006 | 0.0000072 and support near 0.00000406 | 0.0000036 | 0.0000024. Entering trades at 0.00000495 could be strategic, aiming for the next resistance level. ◰◲ General info : ▣ Name: Conflux Network ▣ Rank: 94 ▣ Exchanges: Binance, Kucoin, Hitbtc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Conflux Network is a smart contract platform that features a Turing-complete state machine built atop a high-throughput consensus protocol. Conflux reaches an agreement on transaction validator based on the total order of blocks organized in a Tree-Graph, a novel consensus mechanism that scaling benefits relative to existing blockchains. It also uses Proof-of-Work (PoW) to supplement its Tree-Graph consensus protocol. Conflux has a native token called CFX that serves as the reward for network miners and as a means for paying transaction fees. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.00000495 ₿ ▣ 24HVol: 25.206 ₿ ▣ 24H Chng: 10.0% ▣ 7-Days Chng: 12.51% ▣ 1-Month Chng: 6.03% ▣ 3-Months Chng: 30.72% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.00000526 | 0.000006 | 0.0000072 ◢ Support: 0.00000406 | 0.0000036 | 0.0000024 ◱◳ Indicators recommendation : ▣ Oscillators: NEUTRAL ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: -0.73 ▣ Last 90D: 1.04 ▣ Last 1-Y: 1.70 ▣ Last 3-Y: 0.46 ◲◰ Volatility : ▣ Last 30D: 1.08 ▣ Last 90D: 1.18 ▣ Last 1-Y: 1.96 ▣ Last 3-Y: 1.81 ◳◰ Market Sentiment Index : ▣ News sentiment score is N/A ▣ Twitter sentiment score is N/A ▣ Reddit sentiment score is 0.62 - Bullish ▣ In-depth CFXBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
$40,000 is a crucial level to watchSince the plunge to $38,505 on Monday, Bitcoin has been trending mainly sideways around the critical level of $40,000. Meanwhile, the number of Bitcoin addresses with balances exceeding 1,000 BTC ticked slightly higher; the same applies to the addresses with balances exceeding 100 BTC. On the daily chart, the RSI began to flatten around 35 points, Stochastic reversed to the upside, and volume declined. All these signs are slightly positive and increase the chances of a rebound. On the other hand, there are also some negative developments, like the bearish crossover between moving averages, a continuation of the decline in the MACD, and growth in the ADX (suggesting the bearish trend has been gaining momentum for the past eleven trading sessions). As the short-term picture is not clear, it seems reasonable to keep targeting $37,000 for as long as Bitcoin stays below $40,000. Illustration 1.01 The picture above shows the daily chart of BTCUSD and two simple moving averages. The yellow arrow hints at the bearish crossover between these two SMAs. Technical analysis gauge Daily time frame = Bearish Weekly time frame = Bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of multiple indicators. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSD
by Tradersweekly
2
BITCOIN Every monthly pull-back is a BUY opportunity from now onOn this 1W analysis we see Bitcoin's (BTCUSD) amazing symmetry through its historic Cycles. A symmetry which upto this date, is holding and we will explain why right away. Before we begin, note that the current study can be used in combination with our legendary Golden 51%-49% Ratio publications shown below: ** Three Cycle Phases ** Now as to the cyclical symmetry. The chart classifies each grand Cycle into three phases: a) The Bear Phase (red), which starts at the top of the previous Cycle and ends on its bottom. The price breaks below the 1W MA50 during that phase. b) The Accumulation Phase (blue), which continues where Bear left off and is when investors buy for the long-term following the market bottom. The price breaks above the 1W MA50 during that phase. c) The Bull Phase (green), which starts after the Halving event (orange vertical line) and ends on the new Cycle top. The price never closes a 1W candle below the 1W MA50 during that phase. ** The Symmetry ** As you can realize just on first glance, the Phases along the Cycles are on an amazing symmetry. The Bear Phases has so far been 59 weeks (413 days), 52 weeks (364 days) and the most recent 58 weeks (406 days) respectively. The Accumulation Phases have been 77 weeks (539 days) and 73 weeks (511 days) respectively. The Bull Phases have been 75 weeks (525 days) and 79 weeks (553 days) respectively. The current Accumulation Phase will be 71 weeks (497 days) by the time of the Halving, which is remarkably along the lines of the previous 2. As for the new Bull Phase after the Halving, we could assume a minimum duration of 75 weeks (525 days) as in 2016 - 2017. ** Fibonacci role on the Halving date ** The key at the moment as we approach the upcoming Halving in April, are the Fibonacci retracement levels. During the previous two Halvings, BTC had already reached the 0.786 Fib once and at the time of the Halving was around the 0.618 Fib, which is basically the current price levels within 39000-40000. The 1W MA50 is about to touch the 0.5 Fib level which is around 33000 and technically, based on this model, is as low as the correction can extend to. Technically we should be expecting price levels around 40k as we enter April, which of course doesn't dismiss the possibility of another run to 50k earlier. In conclusion, assuming the 1W MA50 is the new long-term Support from now on, every monthly correction, should technically be a buy opportunity as we head into the Bull Phase. But what do you think about this Cycle mapping? Do you expect history to continue to repeat itself? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
18
BTCUSD Quickie 3hrHere we have the beginnings of a momentum shift on the 3 hr Here we are on the daily. In breakdown territory (rotation zone), while there is hope it bullish breaks on the daily, it could also, breakdown in a bad way. I call these inflection points. Signaled by momentum shifts. So there are a combination of mometnum shifts that create an inflection point. Looking for a quick boom, or disaster to strike. I think bitcoin will lead the market and crash, then the market after the equinox will crash. Else something crazy will happen, covid 2.0, taiwan invasion, ww3, middle-eastern war...
COINBASE:BTCUSDShort
by Mikhiavelli
1
SOL/USDT Market Correction OpportunitiesWe are considering a scenario involving the decline in the SOL's value and the initiation of asset purchases. It is worth noting that the current correction to the $79.60 level represents a deviation of more than 37% from the prevailing local peak at $126.21. The price movement chart within the descending channel during the correction indicates a reduction in investment activity and profit-taking. Given the anticipated continuation of the downward trend and considering the potential attainment of price levels around $70 and below, we are contemplating the possibility of strategically re-entering positions in SOL to optimize the portfolio and capitalize on market conditions in our favor.
Long
by Rick_SimpleSwap
2
BITCOIN mid week Update - 24/01/24Hello everyone, Im back with just quick update to Monday pre-Market idea __________________________________________________ So, as expected we went lower really close to our Sellside t1. Price didnt touch our t1 box, but if you trade with Trailing Take Profit, you should be taking some profit-% off the table at this point. Today and Tommorow, there should be volatility coming so I would be very carefull about Opening NEW trades. Remember, ITS NOT SHAME TO NOT BE IN TRADE! Its always better to wait for setup which is favourable FOR YOU! At this MOMENT, Im observing price on lower time frames to decide if there is highier possibility of REVERSING on Daily time frame... So we possible could run up to 42-44k$ IF news later today favour that move... OR we can not work above smaller time frame Buyside liquidity targets, and we keep going LOWER as we was expecting... In my opinion, RIGHT NOW, is very hard to make CALL if we go lower/highier TODAY, since we already went LOW enought on weekly basis without any liquidity drivers, so there is good chance for swept on other side. Thats why I suggest to be VERY CAREFULL and if you decide participate before news, you should use tight STOP LOSS for your own good. I'll make next update when I will be more certain about which way we keep moving further. Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
Many ominous signs are showing up on Bitcoin’s chartIn the previous article about Bitcoin, we discussed how there was no significant uptick in the number of Bitcoin addresses with large balances (particularly among wallets exceeding 100 BTC and 1,000 BTC), suggesting big speculators might not be interested in buying the dip this time. Nevertheless, despite a further drop in the price (since the last article), the number of Bitcoin addresses with balances exceeding 100 BTC fell almost to the level that preceded the rally’s start in mid-October 2023, which is odd considering how the Bitcoin Spot ETF’s approval was expected (by many, but not us) to cause massive money flow into the biggest cryptocurrency by market cap. Yet, here we are after the approval, and Bitcoin is trading down about 16% from its highs earlier this month. While this does not necessarily mean Bitcoin can not continue higher, it is definitely a cause for concern. Consequently, we are paying close attention to the 20-day and 50-day SMAs, which are likely to perform a bearish crossover in the following days. In addition to that, we are observing technical indicators like MACD, Stochastic, and RSI on a daily time frame, where they continue to develop bearish structures; on the weekly time frame, these indicators show signs of exhaustion and are starting to move flat (not particularly bullish). On top of these developments, Bitcoin tests the bounds of the upward-sloping channels shown in the previous ideas. With the breakout below the lower bound of the upper channel, our mechanism for setting the price target became triggered. As a result, we are back in the market, and our price target is $39,000 (we will reassess the situation on the go and set a new price target once the current one is reached or stopped out). Illustration 1.01 Illustration 1.01 portrays the daily graph of BTCUSD and two simple moving averages. The yellow arrow highlights an impending bearish crossover between these two averages; if successful, a crossover will slightly bolster a bearish case going forward. Illustration 1.02 In the previous article, we outlined how MACD was approaching the midpoint on the daily graph, raising the odds of a bearish crossover through it. Shortly after our warning, MACD broke into the bearish area. Technical analysis gauge Daily time frame = Neutral (turning increasingly bearish) Weekly time frame = Neutral *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of multiple indicators. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
18
RONUSD Pull-back expected.Ronin (RONUSD) hit the top (Higher Highs trend-line) of the 1-year Channel Up. This is the 2nd Bullish Leg of the pattern and is technically expected to peak at +635%, same as the April 10 2023 Higher High. We expect at least a -47.27% decline towards the 1D MA100 (red trend-line), targeting 1.5000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:RONUSDShort
by TradingShot