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Bitcoin - Will BTC See $10K By The End Of This Bear Cycle?Hello traders, here is my analysis for BTCUSD. Without a doubt these market conditions are extremely difficult not only from a trade execution perspective but also from a mental perspective. - You have to stay strong and take each day as an opportunity to learn and grow as a trader. BTC Makes History - BTC hit the lowest level in it's history on the weekly RSI. What does this mean? - Basically it means BTC is extremely oversold and is overdue for a bounce. Where could BTC end up by the end of this Bear cycle? - One of the first posts that i made stated that BTC could hit $20K by the end of the cycle and possibly lower.... - I wasn't expecting BTC to hit this level as quick as it did. - Being as we are still early in on the bear cycle, this tells me that BTC still has much further downside to go. - So here are the levels I think BTC will hit. 1) $20K - High Probability 2) $12K - High Probability 3) $10K - Medium Probability 4) Below $10K - Low probability I think BTC will most likely hit $12K by the end of the bear cycle ad possibly even $10K. - In my opinion there is a low probability of price trading below $10K but it's very possibly given the current economic conditions. - Keep this in mind... This is the worst economy in the USA in over 40 years. - Meaning since Bitcoin's inception, this is the worst economy it has ever faced by far. - We don't know what kind of effect that will have on BTC after all is said and done, so don't under estimate how low BTC can go. Hang in there and don't give up. I've seen thousands of retail traders throwing in the towel, you have to stay strong and be patient. This is what separates the winners from the losers, if you can make it through the worst bear cycle in the history of crypto you can make it through anything in the future. Eventually this will end and BTC will probably have the best rally in its history after this bear cycle is over and it hits the $12K low or whatever it will be. Thanks everyone and best of luck trading!
by natef1
4
Ethereum Breaking Down? Major Support Broken - Next Level?Hello traders, here is my analysis for ETHUSD. - If you read my post yesterday, I mentioned that today was a very important day for the markets being as the CPI data was scheduled to be released today. - This morning we got that data... it was not good news for the markets. - Basically inflation increased and was worse than expected. BTC held up very well considering the massive sell off in the stock market. - However ETH did not fare so well. - As you can see ETH had a large sell off today, breaking below the major support level at $1,700. **The reason that this level is significant is because it is a major support level last hit in 2021. - This is not a surprise, ETH has been looking weak for several weeks now compared to most other top 20 cryptos. Here are the Levels and Signals to watch for... What's next for ETH? 1) I do not officially consider this a breakdown until price CONFIRMS below the $1,700 major support level. 2) If price confirms below, the breakdown is official and ETH will most likely continue lower down to the next support at $1,550. 3) If price does not confirm below and instead breaks back above the $1,700 support level, the Major support level is still intact. Note** We are heading into a weekend. Most likely volume will be light however be prepared for Monday when the stock market re-opens. - Will the stock market continue to sell off? Or will it stabilize eventually giving us a relief rally which will give BTC the chance to finally breakout? Thanks everyone and best of luck trading!
by natef1
ADA Trade SetupIt's awesome right, from past few hours market moving pretty upside !! Hey Welcome back - I have something to say First let me start with overbought condition, after good rally most of the crypto's are reflecting overbought conditions. How bad it is ? Let's just say for short term may be it's better if we look for shorts and so MACD added much more confirmation to those overbought conditions, Not only me no one knows how far this trend change will go but one thing for in trading we need to focus each and every key price points, no one knows when market sentiment gonna change. So my advice is stop predicting start reading the market. THIS IS MY ADA TRADE SETUP : Entry Range : 0.6581 - 0.6470 Target : 0.6192 Stop Loss : 0.6707 Note : My trade conditions hasn't triggered yet even it's in my entry range, I'll update when the conditions triggered in update section. Disclaimer : Anything provided here is not a financial advice.
Short
by Livermore_Jr
Matic Trade Setup - Bullish Formation Ready To Breakout?Hello traders, here is a trade setup for MATICUSD. Matic is looking Bullish and may be setting up for a breakout and continuation to the target levels. - Price has been trading in a Bullish consolidation formation - Price has traded between the parallel channel and recently has been trending near the top. ** Be prepared for a breakout** - Ideally you should wait for a breakout and retest of the prior high before you enter the trade. - Aggressive traders can enter now if they are willing to take the risks. ** Tomorrow the CPI data will be released. If the news is positive Matic will most likely breakout and rally so keep a close eye on price action tomorrow. ** Thanks everyone and best of luck trading!
MLong
by natef1
2
BTC - CPI Data Released Tomorrow! Will It Mean Doom Or Gloom?!Hello Traders, here is my analysis for BTCUSD. Bad new on a Friday is like Kryptonite to the stock market... - Well what does this have to do with Bitcoin!? Tomorrow the CPI data will be released at 8:30 a.m. - This will most likely have a rather large impact on the markets tomorrow depending on whether the info is good or bad. - If you remember over a month ago BTC had a massive Rally immediately after the FED spoke during a press conference and gave somewhat good news on the economy. ( This is the effect news can have on the markets ) - On the flip side if the data is negative it could cause the stock market to have a massive sell off being as it's a Friday in which case BTC will follow. Now of course that's the worst case scenario, but we have to be prepared for all scenarios. - On the chart I drew 3 different scenario's that are possible depending on whether the news is good, bad, or average. - I have no insider information on what the CPI data is going to say so it's anyones guess as of right now, but overall BTC looks more Bullish than Bearish. Well didn't you just say that if the news is bad it could cause BTC to tank?! - Yes I did... however, being as BTC is slightly more Bullish at the moment I think that if the CPI is negative then the downside will be limited for BTC even if the stock market tanks. - This means that even if the stock market dumps BTC will still have a good chance of holding support at $28.6K and not dropping lower. - Now if the news is positive then BTC is in an excellent position to be able and re-test resistance at $31.4K and possibly even break out. - Lastly if the news is neither good or bad then BTC could just continue to trade in it's current range for the next week or so before making it's next move. Tomorrow could potentially be a very big day for Bitcoin and the markets. - Nobody truly knows what the outcome will be but if you are a new trader, watch very closely tomorrow... you may get to witness the impact of news on the markets which could be a valuable learning lesson. Thanks everyone and best of luck trading!
BITSTAMP:BTCUSD
by natef1
XLM - Target ReachedWelcome Back, As we discussed XLM trade setup earlier, Target - 1 has been triggered. Start booking profits and also adjust your stop loss. And don't forget that from target-1 to final target in this range manage your trade actively and reduce your position accordingly. New StopLoss : 0.14458 ( around breakeven point ) Conclusion : Observing current market condition yea it's perfect trade. But currently many oscillators like RSI show undervalue so i think there might be small upward moment before going to final target and not a trend change for sure but keep on reading market everything changes within no time. Be active. Disclaimer : Anything Provided here is not a financial advice
Short
by Livermore_Jr
Bitcoin Analysis - Key Levels To Watch For!Hello traders, here is my analysis for BTCUSD. *Unfortunately it just so happened that as I was creating this post BTC started to dump.* I was hoping that BTC would hold around $31K into tomorrow to put price in a good position to rally, but once again BTC has been rejected from the above $31K region. So what does this mean for BTC?? - I know everyone is sick of BTC and crypto at this point (As am I) but you just have to push through and stick it out. Eventually BTC will have it's next bull run and you need to be ready. You can still learn valuable lessons during a bear market... - The dump today does not mean that BTC still won't rally. It does put BTC on the back foot going into tomorrow, but this has been the story for nearly the past month. - On the chart I've labeled the key level that BTC needs to hold ($28.5K), as long as BTC holds that level the probabilities still favor BTC getting a bounce. - I've also labeled the "Key Resistance" level that BTC needs to break and CONFIRM above ($31.4K) for price to be "set free" to Rally. - BTC is essentially still just trading in range which for the moment is slightly more Bullish than Bearish. **Also another thing to note is that over the past week price action has been more Bullish than at any time over the past month. - In fact BTC finally had its first green weekly candle in 10 weeks! So crazy to think that pretty much the past 2&1/2 months have been completely red the entire time. - So this green weekly candle will be a sigh of relief for a lot of trader's and could potentially be the catalyst for BTC to get a rally. **I mentioned this in my post a couple days ago but to re-iterate, I expect BTC to make it's move this week. Like I said the probabilities still favor a move to the upside but all the signs are pointing to BTC becoming more volatile so it would make since for a move to occur this week. That's it for today's post, thank you everyone and best of luck trading!
BITSTAMP:BTCUSD
by natef1
XLM Trade Setup As discussed earlier here this is my trade setup for XLM ! Trade report : Strategy - Pattern Trading ( Symmetrical Triangle ) Breakout - Downward Entry Range : 0.14503 - 0.14420 Target - 1 : 0.13693 Final Target : 0.12700 Stop Loss : 0.14841 Conclusion : After a relief rally market is going down again.... I'm entering into trade when my entry price range got trigger , and make sure that reaching upon first target start booking profits and also manage your trade position accordingly.
Short
by Livermore_Jr
Pattern trade setup - XLMWelcome Back, New day - New trade setup , After a huge downward rally cryptocurrencies are up on an average 4% to 5% today , something like a relief rally !! Ok but here I'm gonna share my trade setup for XLMUSDTPERP , It's forming symmetrical triangle pattern which is also a continuation pattern , no one know in which direction the breakout occurs but according to current market sentiment it is likely to break upwards. I'm gonna enter once it test the breakout successfully. Key Levels to watch : Upward Breakout entry range : 0.14945 - 0.15029 Target - 1 : 0.15598 Final Target : 0.16948 ( consider below this level ) Profit booking range : 0.15598 - 0.16948 For Downward breakout I'll update if the current scenario changes. Disclaimer : Any information provided here is not a financial advice, trade at your own risk!
by Livermore_Jr
Bitcoin - Trend Line Flips From Support To ResistanceHello traders, here is my analysis for BTCUSD. BTC has broken below the trend line which it was previously using as support. - If you remember in my last post I stated that if BTC was to break below it's possible that this trend line could become resistance. - This is exactly what happened, as you can see BTC is now using the trend line as resistance and is following it precisely. - This doesn't really change much in the overall analysis for BTC, however it does add an extra step if price was to break out. *Here are the Bullish signals to watch if price is going to break out. 1) Price will need to break above the trend line and remain above. (It's okay if it dips below just as long as it doesn't close below on the daily TF.) 2) Price will need to break and confirm above resistance at $31.4K. (Previously price did break above however it did not confirm, hence why it dipped back into the "Grey Box Zone" after a couple days.) 3) Once those 2 requirements are met, BTC will be in a great position to head up to $33K (Take Profit #1) and above. ***Important note*** - This week I believe will be the week that BTC makes it's move whether to the upside or downside. (Probabilities still favor the upside.) The FED will be speaking about inflation this week and if I remember correctly some economic data is scheduled to be released as well. Based off prior events it would stand to reason that this could be the catalyst that BTC needs to finally make a move. - If the data is positive BTC should pump. - If the data is negative BTC should dump. This is an important week for crypto and stocks,, keep a close eye on the news and be ready for a move in crypto. Thanks everyone and best of luck trading!
BYBIT:BTCUSD.P
by natef1
2
BTC Analysis - Keep An Eye On The Ascending Trend LineHello Traders, here is my analysis for BTCUSD. Tonights post is going to be short again, there really haven't been any new major developments so my technical analysis from my prior posts are still applicable. The only change from yesterdays analysis is that BTC is now trading on an ascending trend line. As you can see price has bounced from the trend line 3 times which is a good indicator that traders are playing this trend line. - As long as BTC bounces from this trend line the trend is intact. - If price drops below the trend line then the trend is no longer valid and we will need to re-asses for the next trend. - If price did drop below, this trend line could potentially act as resistance later on so keep that in mind. That's it for tonight's analysis, thanks everyone and best of luck trading!
BYBIT:BTCUSD.P
by natef1
XPRT Persistence Token Showing Inverse H&S Pattern FT 1.97Persistence Token XPRT is showing an inverse head and shoulders pattern on the 4hr. right now. With Bitcoin dominance BTC.D almost precisely tagging resistance at 47%, I believe the alts now have a small opening in the clouds to rise. That being said wait for this candle to close in 3+ hours on your 4hr chart for entry confirmation. Entry = Price upon candle close on the 4hr. Stop = Somewhere below neckline. I chose 1.53 Target = 1.97 but taking profits along the way. Risk/Reward = 3.33 Best to you! Stew Here's the BTC.D chart showing resistance:
XLong
by stewdamus
ADA Trade Setup - Breakout Of Trend Line = Bullish MomentumHello Traders, here is a trade Setup for ADAUSD. I'm going to keep this one short today... ADA has had an incredible run over the past several days. So well in fact that it broke through a local descending trend line which acted as resistance. This is a very positive signal for Bullish momentum. - Price is currently re-testing support which is also an ideal buy zone. - The trade setup is shown on the chart. - Keep in mind that we are in a Bear Market. Keep your position sizes small to protect your capitol and don't over leverage yourself. Thanks everyone and best of luck trading!
Long
by natef1
2
ETH Analysis - Trade Setup & Target Levels!Hello Traders, here is my analysis for ETHUSD. To start, if you follow my posts you may notice that the TA for ETH looks somewhat similar to BTC... However there is one major difference. - BTC is currently trading within the "Parallel Channel" while ETH broke below and has yet to break above it's "Parallel Channel". - The reason this matters is because this mean ETH will have an extra level of resistance to break through than BTC. - We will have to keep an eye on this, aside from that the price action and TA will be similar, but it's important to take note of that. Price Action Summary - ETH looks short term Bullish, following BTC after the massive green daily candle yesterday. Today price is consolidating and is holding support. The probabilities favor further upside continuation in the short term. Target Levels - As you can see ETH has many levels of resistance to contend with, despite that ETH should still be able to make some decent gains when BTC rallies. - Once ETH breaks above the Parallel Channel, buyer's will be more enthusiastic and ETH should reach "Take Profit #1 & Take Profit #2" - The probabilities favor ETH reaching at least $2,300 by the end of it's rally. - Beyond that the next levels are at $2,500 and $2,600. There is a much lower probability that ETH reaches the last 2 "Take Profit" levels. ***Enter a long below $2,000. Any higher and the risks are to high for a swing trade. - I will be taking 1/2 profits at TP#1 and the other 1/2 at TP#2. Invalidation - If ETH drops and confirms below $1,700 then this swing trade setup is invalidated. If ETH confirms below $1,700 then I would expect further downside continuation beyond that point. ***Also if ETH was to drop below $1,700 that would mean BTC broke below the its "Parallel Channel" and would be highly Bearish for BTC and the majority of Crypto's would dump. **Note on taking profits in a Bear Market** - We are in a Bear Market... you trade a Bear and Bull market differently. In a Bull Market it might make sense to wait till "Take Profit #4" to be hit before taking profits, however in a Bear Market we know that at some point the Rally will end and price will continue lower. We have to be reasonable with our take profit levels and not get to greedy. So even if I was to think that ETH could easily hit "Take Profit #3" for example, I would still close the trade at "Take Profit #2" to lock in profits. Otherwise if you were to hold out for too long you could be in a situation where price drops sharply down and continues lower while you are still holding out in hopes that it goes back up. That is a losing mentality and will get you in trouble in trading. Thanks everyone and best of luck trading!
by natef1
Bitcoin - Breakout or Fakeout?Hello Traders, here is my analysis for BTCUSD. Finally BTC broke out of the sideways formation that it has been trading in for the past several weeks. I didn't bother making a post over the past few days being as there hadn't been any change, but now that we've got some action it's time to prepare for our take profit levels... One question we need to answer is... is this a breakout or a fake out? - If BTC can close above the previous high and hold the resistance turned support at $31.4K, then this is a confirmed breakout. - However if BTC breaks back below over the next couple days, price may consolidate for longer before trying again. - The probabilities favor BTC holding this level and trending higher being as BTC spent several weeks consolidating first. - As long as BTC holds $31.4K, expect further upside continuation to the next resistance levels. ***I've labeled the "Potential Path's" for BTC on the chart. These are the possible price action scenario's for BTC, just to be prepared for all situations. If BTC Can Hold Support How What Are The Next Target Levels? - BTC has a few resistance levels ahead of it. One at $33K, $34.4K, $37.5, and the major one around $38.5K. - If you opened a position recently I would take partial profits at each level that is hit. Remember, the higher BTC goes the lower the probability that it will go higher. - For example you could take 1/3 profits at each level between take profit #1 - #3 and raise your stop loss each time. - The max upside for BTC in the short term would be around $38K in my opinion. Is This Price Action A Correction Or A Reversal? - It's important to try and understand whether BTC has pt in a bottom and will only trend up from here, or if this is just a short term rally and BTC will eventually trend lower. - Looking at the chart it's quite clear to me that this is just a short term correction and is not a reversal. - The probability of BTC heading much lower are very high according to the chart. - If the structure of the chart changes we can re-asses but for now the chart looks overall Bearish. Invalidation - If BTC were to fall back into the prior formation but hold support at $28.6K, the trend is not invalidated. However if BTC were to fall below and confirm below the trend would be invalidated and we could expect bearish price action for a while longer. Thanks everyone and best of luck trading. Also take a look at the last few posts I put out for a more detailed chart of the take profit levels and trade setup for BTC.
BITSTAMP:BTCUSD
by natef1
5