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Patience

When to Look For A Bitcoin BottomI want to go on the record with what I will be looking for in the future with Bitcoin BITFINEX:BTCUSD . I have been consistent in my thesis since October 2021 that the bullish cycle of cryptocurrencies was ending upon the failed breakouts of the All Time Highs. Since November I have called the crypto winter and expected it to last through 2023. On an esoteric note I have observed much optimism among the Bitcoin Maximalists (Maxis) as they continue to "Dollar Cost Average". I have always been critical of this strategy as a Technical Analyst but many believe it is their best hope for acquiring an asset without concern for price. Bitcoin will always go up over a long enough timeline, right? I think that this lingering optimism is categorically not indicative of a bottom. A bottom is when the mainstream narrative is that an asset is a horrible investment and will never go back up. The way this narrative changes is with price decline over a sustained time to build frustration and boredom. It is for that reason I predicted that the crypto winter would need to last more than one full year following the November high or possibly into two years. From a Technical Analysis perspective using Ichimoku Cloud theory I have observed that price tends to be attracted to the most notable feature of Ichimoku, the Cloud, following a rapid price rise and then decline (otherwise known as a bubble and bust). Once the Kijun Sen (green line) is breached following a rapid advance price tends to be attracted to the Cloud and does very little meaningful movement until the Cloud is reached. This takes both price to move and time to pass for it to occur. We can study past examples of Bitcoin's history for examples: Bitcoin (Monthly) December 2019: There was a pump fake in Q1 2019 but price did not begin the next cycle until clearing the cloud following COVID Bitcoin (Monthly) November 2015: Price declined and lingered following the 2013 bull cycle until interacting with the monthly cloud Bitcoin (Weekly) September 2013: Dropping down to the Weekly as there is insufficient Monthly data this far back. The second leg of the 2013 cycle kicked off once price met the Weekly cloud. Bitcoin (Weekly) October 2011: Price continued to decline following the 2011 cycle until it met the cloud at which point a bottom was found. In these past examples a trader could have waited for enough time to pass that price would intersect the cloud and not miss the beginning of the next bull cycle. Technical Analysis is imperfect for predicting the future but it overlays an objective measure that encourages patience. That is what I hope to convey to those looking for a bottom during this bear cycle.
BITFINEX:BTCUSD
by norok
2
BTCUSDT : WHAT'S NEXT ??Hello !! Welcome to the quick update of BTCUSDT. After breaking the initial support of 28300, BTC took a deep dump. It tried to sustain at the 26k level but eventually fell off making a new low of 20100, which is down almost 70% from ATH. It took a pump from 20100 and is currently trading around 22K. In order for us to be bullish again, it needs to break the 28k level, below it we are still bearish. The various scenarios are mentioned in the chart, if BTC breaks the 20k level, we can see it dump to 17k followed by 10k in the worse case. Let's see how the market reacts and wait for the right moment to enter any trade. The market is still very uncertain, and unstable and I would suggest everyone hold their patience and wait for a clearer picture and trade only after confirmations. As of now, please take trades with caution and with STRICT STOPLOSS else you might end up blowing your trading account. This is not financial advice, please do your own research before investing and we are not responsible for any of your losses or profits. Please like and share and comment on this idea if you liked it.
by ScramblerG
4
BTC/USDWhy is this a buyer's market? 1. Moving averages in the past were bought (200MA, 300MA) 2. Everyone is looking at 200MA. This can break down also. 3. Great support at 13-16k if capitulation is not over at 24k levels. -------------------------------------------------------------------------------- Next will analyze RSI to spot rare occasions to DCA Bitcoin. This analysis is for long-term investors not for traders. -------------------------------------------------------------------------------- Have a plan and respect it until making profits. Emotions always will fool human beings. Mindset + Patience = Succes --------------------------------------------------------------------------------
INDEX:BTCUSDShort
by cryptoforevery1
BTCUSDT DUMPS : ALTCOINS BLEED BY MORE THAN 50 PERCENTHELLO !! Welcome to the quick update of BTCUSDT. in the last few days, we saw BTC dumped badly after it broke the immediate support of 33000 and 31000. As of now, it is trading at around 27600 and is down by almost 19% from last week. As of now, it needs to push the price above 29200 in order to move up in the weekly timeframe. If the weekly close is below 29200, we may see BTC dump more until 19200 and then take a U-turn. As of now, everything is uncertain, Altcoins are also taking a major hit and are down by almost 50%. As of now, I would suggest everyone stay calm and be a spectator in the market, let the market make the move and when the time is right, we may take entries but it is better we wait now and have patience and save our capital. As of now, please do not take any trades else you might end up losing your capital. This is not financial advice, please do your own research before investing and we are not responsible for any of your losses or profits. Please like and share and comment on this idea if you liked it.
by ScramblerG
BTC LONG TERM : IS IT READY TO PUMP ???Hello !! Welcome to the quick update of BTCUSDT. It was trading in the range of 37300 to 39800 for a long time. It is still in that channel and I can see a larger bear flag that was about to break but BTC managed to enter the channel again. I think we are still not bullish on BTC as it has a number of resistance that it needs to break before hitting 48000. The points we need to consider are if BTC breaks R1, R2, and R3 i.e. 40800, 42200, and 43400 respectively. If it manages to break these resistances, it will touch 48000 without any doubt. I think it's better we wait for the right moment to enter any trade. As of now, all altcoins are pumped around 5 % to 10 % and we may see some retests again. Please be safe with your positions and invest wisely. This is not financial advice, please do your own research before investing and we are not responsible for any of your losses or profits. Please like and share and comment on this idea if you liked it.
Long
by ScramblerG
Channel draw on btc still valid & ignore moving average crossesThe daily posters on Tradingview, Twitter, Coinbase and YouTube usually have a daily focus which is fine so long as it works for them. I am continuing to try and be a big picture guy and always zoom out or take a step back. And quite frankly, bitcoin is just consolidating in a channel at this point. I am likely to be more interested in bitcoin when I see it start to either break up out of the channel or break down out of the channel. I have a couple of monthly structure I am watching as well to help me steady my hands and likewise remain patient. When price action goes sideways for so long moving average indicators don't matter. Lots of people have taken notice that the whatever moving average has crossed some other moving average. Doesn't matter, moving averages don't count when price action is ranged bound like this. That advice is one of the first things you will read on any primer for a moving average strategy. They work best in impulsive markets, not sideways/consolidating markets. My idea is officially tagged neutral because this channel has been kind of neutral. Price could pump out the top from here, or it could go straight down. No telling. But whichever way it moves it will be very impulsive after going sideways for so long. Maybe later this formation will look like a double top. Maybe it resembles my bullish bias for bitcoin in the linked idea. Time will tell I think eventually the hard economic times will shake out everyone who bought more bitcoin than they should have given the circumstances and when enough of them sell part or all of their positions things will start to move as the buyers take over price action. The technical targets for the channel remain the Hight of the channel.
COINBASE:BTCUSD
by This_Guhy
1
SHORT AUDUSDHello Traders, This is just my personal opinion about his pair and what i see and anticipate happening. On the daily chart price broke the blue ascending trendline with an impulsive bearish move. price has since tapped into to a previous level of support around .71600. the overall market is bearish but is showing a bit of sluggish bearish momentum, which based on the volume could indicate a potential pullback 4hr showing a potential oversold status and long wicks on the bottom of several early candles and we could be seeing a double bottom in the making, couple that with the imbalance that needs to be filled above. In my opinion we will see a pullback into .73400 area before a move back down, target .7000, a key demand zone. I am looking for shorts but will enter a counter trend trade if the price breaks above double bottom neckline. Trade WELL not OFTEN
Short
by Red5FX
SPY: Update. Oversold Analysis was CorrectAnother successful analysis. The trading since December has been rather difficult as you can see by the many long long wicks each monthly candle has left behind. This means neither the bulls nor the bears were in complete control of the sentiment. But with the right analysis in conjunction with proper risk management we can profit in any situation. Most of my charts have been predicting correctly what is most likely to happen. Here I can not be certain what will happen because we do not have enough information. The daily time frame has SPY (and the general markets) already in slightly overbought territory. I expect a pullback somewhat like what happened in gold (another successful trading plan even though it has been choppy). We need for the daily to pullback and the monthly to signal a long term buy signal if the bulls want that higher all time high. For now we just wait with out a position. If the markets rally and take off with out us that is ok we will wait for a nice 1hr set up with hidden or positive divergence if so. If it pulls back we will do the same and wait the 1hr time frame for positive divergence or a buy signal to buy the markets.
AMEX:SPY
by Sinex
The Level is Good Until it's Not (A Lesson in Supply and Demand)G'day, Traders! Despite wars and rumors of wars there are always opportunities to be had in the financial markets, particularly the Energies markets.  The purpose of today's trade example is to demonstrate that once a level of Supply and Demand are created in the financial markets, the rule of thumb is that a level is "good" until they are not... that is, until all the unfilled orders inside them are processed. No matter how old a level may be, they do not go "stale".  Let's look at a trade which closed in the opening minutes of the market at 6PM EST on Sunday March 27, 2022: A long opportunity became available to us on the 4-hour chart on Crude Oil Futures in the wee morning hours of Wednesday, March 5 (2:36am to be exact!). That morning (after having the required coffee and bacon as part of one's trading routine) there was plenty of time to evaluate the trade setup using Supply and Demand analysis. When a trade like this appears and meets your rules-based qualification system, you can then give yourself permission to take the trade. The destination (a.k.a, Target) needs to be an opposing level of qualified Supply. The interesting part, and hence the jist of this article, is that no matter how old a level is, "a level is good until it is not." The level of Supply identified was from July of 2008 – almost 14 years ago! It is treasure chest full of sell orders that was created in 2008 and hasn't been touched since! As you can see from the chart, price entered that Target level and ricocheted right away like a cat on a hot stove! If you drill down to the 1-minute chart you can see that price stayed at that level for a full two minutes until all the Buy Orders were exhausted and the sellers were back in control, driving price back down. When trading via Supply and Demand, don't worry about how old a level is... if it meets your criteria of being a quality level, take it! As always, Trade Well!
NYMEX:CL1!Education
by ocaptain