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🔥 Bitcoin Bearish Head & Shoulders Pattern: Time To Watch Out?Preface: I'm still bullish on the crypto market as a whole. I still think it's likely we're going to make new highs in the near future. This is a more short-term oriented trade and will only be activated under certain conditions. In this analysis I want to shed some light on a pattern that one of my commenters recently informed me about. Although it's not the best H&S pattern ever, it's still a valid pattern in my view, especially with the recent reversal from 68.000$. I'm going to wait for BTC to pierce through the dotted yellow support and retest the 61.500 area before considering a short entry. Target placed at 51.000, but will likely take partial profits around 57k. This reversal is in line with another analysis I made a couple of weeks back. BTC has entered a major area of resistance and could see a decent correction before moving back up.
Short
by FieryTrading
111
🔥 Bitcoin: The Most Accurate Cycle Top Forecast To Date! 🚨Preface This analysis is based on historical price action. Since BTC only had a couple of cycles before, the data presented is based on just a few observations. Furthermore, this analysis will use calculations based on a mathematical model based on these few observations. TLDR/Summary at the bottom. Goal of this analysis In this analysis I'm going to take an attempt at making an educated guesss at when Bitcoin will top, and around which value it will top. With the information at hand, I'm reasonably certain that this is one of the best forecasts currently on the market. Indicators and Assumptions The first indicator on the chart is the Bitcoin Logarithmic Bands indicator, a personally made indicator which tries to calculate a Bitcoin top during a certain time frame by calculating a bottom and top band within BTC will top. More information below: The second indicator (or better said, assumption) that we use is the fact that Bitcoin has previously always topped between 34 - 47 weeks AFTER closing a weekly candle above the previous all-time high. I came to this conclusion after making this analysis below: Making the calculation 34 weeks after the 4th of March = 28th of October. 47 weeks after the 4th of March = 27th January. If the above will remain true for this cycle, we can expect Bitcoin to top between October 28th 2024 and 27th of January 2025. Now that we know the dates, we can also easily calculate the values. Naturally, we assume that the Bitcoin Logarithmic bands indicator will hold. (rounded for readability) 28-10-2024 lower band: 135.000$ 28-10-2024 top band: 195.000$ 27-01-2025 lower band: 144.000$ 27-01-2025 top band: 208.000$ Summary Based on the "New ATH to Top" model and the "Bitcoin Logarithmic Bands" model, we calculated that Bitcoin will top between 28-10-2024 and 27-01-2025, with a value between 135.000$ and 208.000$. Enjoy this analysis? Leave a like and a comment 🙏
INDEX:BTCUSDLong
by FieryTrading
21
BTCUSDT.4HAs I review the 4-hour chart for BTC/USDT, my focus is immediately drawn to the Ichimoku Cloud. The price action is currently above the cloud, indicating that the market is in a bullish phase in this time frame. The cloud is expanding, which suggests increasing volatility and potential trend strength. Looking at the Ichimoku components, the conversion line (blue) is above the baseline (red), reinforcing the bullish sentiment. However, the lagging span is within the price action, which typically calls for caution as it may suggest potential resistance or a lack of clear trend. The RSI is around 63, which is on the higher side but not yet in the overbought region. This implies there could be more room for upside before the market becomes overheated. The MACD indicator shows the MACD line above the signal line but both are converging towards the zero line, indicating that the bullish momentum may be slowing down. The histogram is small and fluctuating above and below the zero line, reflecting the current market indecision. Key resistance (R1) lies at 73071.70 USDT, which has not been breached recently. Key supports are identified at 67238.06 USDT (S1) and 60665.16 USDT (S2). The presence of another support level (S3) at 59020.15 USDT suggests significant downside protection. As a trader, I would be watching for the price to stay above the cloud, and a push above R1 could offer a potential entry point for a long position with a target near the recent high around 73777 USDT. Conversely, a drop below the baseline of the Ichimoku cloud could signify a short-term bearish reversal, and I would then consider a short position with targets at S1 and potentially S2 if the downtrend persists. Given the current chart configuration and my belief in Bitcoin's long-term value, I would favor a bullish stance but would remain vigilant for any signs of a trend reversal, and keep an eye on market news and global economic factors that could influence Bitcoin's price.
by MarsSignals
1
SOLUSDT.1WReviewing the SOL/USDT chart, I'm looking at a 1-WEEK timeframe capturing SOL's price action against USDT. The use of the Ichimoku Cloud, RSI, and MACD provides a comprehensive view for technical analysis. The Ichimoku Cloud presents a bullish outlook as the price is positioned above the cloud, and the cloud itself appears to be expanding, which may indicate increasing bullish momentum. The conversion line is above the base line and the price, reinforcing this bullish sentiment. However, the lagging span is intersecting with the price action, which sometimes can precede a consolidation or a change in direction. The RSI reads above 70, hinting at overbought conditions. While this doesn't necessarily predict a reversal, it does suggest that some traders might start to consider taking profits, which could lead to a pullback. MACD shows a bullish crossover with the MACD line above the signal line, and the histogram reflects growing bullish momentum. However, I notice a decrease in the histogram's bars, which could signal that the momentum might be waning. Key resistance (R1) stands at 201.72 USDT, with a significant peak (R2) at 265.09 USDT. These levels might act as upside targets in the event of continued bullish behavior. On the downside, the first support (S1) is at 129.01 USDT, and a further substantial support (S2) is at 63.93 USDT. These would be areas where I would consider buying opportunities on dips, as long as the overall bullish structure remains intact. In my trading plan, given the current overbought RSI, I would be cautious about entering new long positions at these levels. Instead, I might look for a retest of S1 for a better risk-reward entry point. If the price sustains above R1, I would monitor for a potential breakout towards R2, keeping in mind the potential for a short-term retracement due to the overbought RSI. I would remain vigilant for any bearish signals, such as a break below the Ichimoku Cloud or a bearish MACD crossover, which could indicate a deeper correction or trend reversal. It's essential to keep an eye on the broader market sentiment and any fundamental developments that could impact SOL's price.
by MarsSignals
1
UTKUSDT.4HAs I examine the UTK/USDT 4-hour chart, my attention is drawn first to the Ichimoku Cloud, which provides a multifaceted view of the market's momentum and potential support and resistance levels. The price is currently positioned above the Cloud, indicating that the overall trend is bullish in the mid-term. However, the recent price action has been consolidating, with the Tenkan-sen and Kijun-sen lines moving close to each other, suggesting a lack of strong momentum. Moving to oscillators, the RSI sits just below the 60 level, neither in overbought nor oversold territory, which supports the notion of consolidation. A movement above 60 would signal increasing bullish momentum, whereas a dip below 40 might suggest bearish momentum is taking hold. The MACD histogram shows a relatively flat momentum with both the MACD line and the signal line hugging the zero line. This also confirms the market's indecision at the current stage. In terms of support and resistance levels, I note three primary zones as marked on the chart: Resistance 1 (R1) at 0.1512 USDT, Support 1 (S1) at 0.1154 USDT, and Support 2 (S2) at 0.1006 USDT. The highest priority for traders will be to watch if the price challenges and surpasses R1, which could open the door for a further climb, or if it breaks down below S1, potentially signaling a more significant bearish reversal. Given the current setup, my strategy would be to wait for a decisive move out of this consolidation phase. A break above the Ichimoku Cloud and R1 would prompt me to consider a long position, while a fall below the Cloud and S1 might lead me to a short position, keeping S2 as the next potential target. With the market not showing a strong directional bias, I'll be on the lookout for further confirmations before committing to any trades
by MarsSignals
DIAUSDT.4H For the DIA/USDT chart you've provided, here's what stands out in the analysis: Timeframe: The chart is set to a 4-hour timeframe, which gives insights into medium-term trends and potential inflection points. Ichimoku Cloud: Since the price appears to be trading within the Ichimoku Cloud, this usually suggests a lack of a strong trend and a potential consolidation phase. Support and Resistance Levels: R1 (Resistance 1) is around 0.6880 USDT, which might act as a ceiling for price action. S1 (Support 1) marked at 0.6471 and lower, potentially offering floors where price bounces could occur. MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and hovering around the zero line, indicating a neutral to slightly bearish momentum. The histogram being close to zero confirms this neutrality. RSI (Relative Strength Index): The RSI is at 56.12, which is relatively neutral. It indicates neither overbought nor oversold conditions. Price Action: The price has experienced volatility with several spikes up and down. It appears to be moving sideways currently, within a range marked by the support and resistance levels. Overall Interpretation: The DIA/USDT pair is showing signs of consolidation with no clear directional trend in the medium term as indicated by the Ichimoku Cloud and MACD. It’s trading between established support and resistance levels, which could be used for range-bound strategies unless a breakout occurs. The lack of a strong trend suggests traders might wait for clearer signals such as a breakout above R1 or a drop below S2 for directional trades. Remember, it’s important to consider updates in the market that might affect the sentiment and to apply proper risk management strategies in trading.
by MarsSignals
HelenP. I Ethereum can make upward move, after which starts fallHi folks today I'm prepared for you Ethereum analytics. A not long time ago price in a short time rose to the 3820 resistance level, which coincided with the resistance zone, but at once rebounded and declined to the 3250 support level. But then, ETH backed up to the resistance level and even broke it, after which some time traded in the resistance zone, after which rebounded and rose to the trend line. Then price turned around and firstty declined to the resistance level, after which ETH soon broke it, thereby exiting from the resistance zone and later in a short time declined lower even the support zone. After this movement, Ethereum turned around and rose higher support level, making a fake breakout and then making a retest, after which ETH rebounded to the trend line, where at the moment it trades near. For my mind, Ethereum will rise a little higher than the trend line, after which ETH turns around and starts to decline, therefore I set my target at the 3385 level. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
2
🔥 Bitcoin's Next Macro Target: What To Expect SoonIn my last bullish BTC analysis I wrote about the idea that a short-term bottom had been formed and that were likely to bounce from said area. As of today, this signal appears to be a great success. I also made a bearish signal recently, but that entry target had not been hit, so nothing lost. In this analysis I want to take a look at Bitcoin's next macro target. The resistance is drawn from connecting the 2021 tops with each other and extrapolating said line. In my eyes, this will likely be Bitcoin's next target and can potentially be a long-term resistance from which we bounce. Expect heavy selling around this resistance area. For now, it's looking like BTC will continue the uptrend. Happy to hear your thoughts!
Long
by FieryTrading
5
Need to check in which direction it deviates based on 66.4K-69KHello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (BTCUSDT 1M chart) Since the 67K-69K section is located as shown in the picture, I believe it corresponds to the psychological resistance section. Therefore, if support is reached around 67K-69K, it is expected to lead to a further rise. If not, and it falls, you should check for support around 56K-61K. The HA RSI indicator is an indicator created based on the closing price of Heikin Ashi. Therefore, when the price falls, the HA RSI indicator may fall from the overbought range and a new HA-HIgh indicator may be created. If a new HA-High indicator is created, the important thing is whether it can be supported around it. (1W chart) The key is whether the price can be maintained by rising above 69K. If that happens, it is expected to rise to the next target of 1.618 (88913.24). (1D chart) In order to continue the upward trend, it must eventually rise above 70231.38. Accordingly, the key is whether it can receive support and rise around 69K-70.2K. Because the MS-Signal indicator was touching and rising, the area around 66.4K was the first buying period. The second buying time is when it shows support around 70.2K, as mentioned above. It was expected that we would be able to find out what direction the trend would take from March 16th to 18th. Accordingly, you need to check in which direction it deviates based on the 66.4K-69K section. The next period of volatility is around March 31st. Therefore, it is expected that the trend created will accelerate or a major reversal will occur around March 17th. -------------------------------------------------- -------------- I think it is risky to forecast the coin market trend only through BTC charts. Therefore, I think we should also know the movement of coin market funds. As an individual trader, it is quite difficult to know the financial situation of the coin market. I think you can refer to the USDT and USDC charts to understand the trend of funds, even if it is limited. (USDT chart) (USDC chart) Funds flow into or out of the coin market through USDT or USDC. This is because in order to trade in the coin market, you need funds to form a trading pair. I think most trading is taking place in the USDT market. Therefore, it can be said that USDT's movement has a great influence on the coin market. If you interpret the USDT chart or USDC chart considering this situation, - The occurrence of a gap can be seen as the basis for funds flowing into or out of the coin market. - Candlesticks on the USDT chart or USDC chart can be seen as expressing increases and decreases due to trading. Therefore, if USDT does not show a downward trend in the gap, it is highly likely that the coin market will maintain an upward trend due to the funds flowing into the coin market. (USDT.D chart) In that sense, I think the movement of USDT dominance is a chart that shows the funding trend in the actual coin market. As long as USDT dominance does not rise above 4.97, I think the coin market is likely to remain bullish. Therefore, if USDT dominance rises above 4.97 and USDT begins to show a downward trend, I think it is highly likely that the coin market is in a downward trend. If you think you have found such an important point or section, you need a trading strategy that matches the current trend until you break away from that point or section. (BTC.D chart) I think this bull market is centered around BTC or ETH. Accordingly, I believe that most altcoins are not showing a significant increase. Although, I believe that BTC dominance is currently maintained at the current level due to the rise of several coins (tokens). If BTC dominance does not fall below 50, there is a high possibility that there will be a large decline due to the decline of BTC, so caution is required when trading. ----------------------------------- In summary, the decline in BTC provides a buying opportunity until USDT switches to a gap decline. Have a good time. thank you -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 13401.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are points that are likely to encounter resistance in the future. We need to see if we can break through these points upward. Since it is thought that a new trend can be created in the overshooting area, you should check the movement when this area is touched. If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
5
🔥 BONK: Huge Cup & Handle For Massive Profits!In this analysis I want to take a closer look at BONK's cup and handle pattern and the potential massive trade we can make based on it. I'm aware that the handle is not perfect because of the wick, but I still deem the pattern valid enough for a trade. The 2000 area seems to be holding on two separate occasions now, which makes me believe we can use it as a decently strong area of support. Target at 10.000 based on the idea that the pattern will break out and make new highs in the future. Combined, we can create a huge signal with a RR of over 25.
Long
by FieryTrading
9
Binance Coin can exit from pennant and decline to 515 levelHello traders, I want share with you my opinion about Binance Coin. Looking at the chart, we can see how the price some time ago declined to 515 support level, which coincided with the buyer zone and at once rebounded and started to move up. Soon, the price reached a resistance level, which coincided with the seller zone and broke it, after which BNB rose a little and then made a correction below this level. Next, the price broke the 587 level again and later rose to 645 points, after which it turned around and started to decline in a downward pennant, where soon broke the resistance level one more time. After this movement, BNB made a retest of the resistance level and in a short time declined to the buyer zone, which later reached the support line of the pennant. Then price rebounded from the support line and rose to the resistance line, which coincided with the resistance level, but a not long time ago BNB rebounded and fell to the support line, which continues to rise near to this day. So, I think Binance Coin can reach the resistance line, after which turns around and starts to decline to the support level, thereby exiting from the pennant. For this case, I set my target at the 515 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
2
LTOUSDT.4HFor the LTO/USDT chart provided, here’s a technical analysis: Timeframe: The 4-hour chart is a good timeframe for spotting short to mid-term trend patterns and potential reversals or continuations. Ichimoku Cloud: The price is below the Ichimoku Cloud, suggesting a bearish trend. For a bullish reversal, price would need to break above the cloud. Trendlines: A descending trendline could be drawn connecting the highs, which, if broken, could indicate a potential reversal to the upside. Resistance Levels (R1): There’s a resistance level marked at around 0.2303 USDT. This level may act as a barrier for price increases, and a breakout above this could suggest bullish momentum. Support Levels (S1, S2): Support levels are indicated at 0.14177 and 0.1153 USDT. If the price drops, these levels could serve as areas where buying interest might come in to push prices higher. Relative Strength Index (RSI): The RSI is around 59.93, which is neutral and does not indicate overbought or oversold conditions. MACD (Moving Average Convergence Divergence): The MACD is slightly below the signal line, indicating bearish momentum. However, the histogram shows reduced negative momentum, suggesting the potential for a bullish crossover. Price Action: The price appears to be consolidating after a recent uptrend, with a possible bullish flag pattern forming, which could indicate a continuation to the upside if confirmed with a breakout. Conclusion: The LTO/USDT pair is in a consolidation phase below key resistance. A bullish flag pattern is potentially forming, which, if confirmed with increased volume and a breakout, could lead to a continuation of the upward trend. The Ichimoku Cloud suggests a bearish bias in the short term, but the MACD hints at possible upward momentum building. Traders should look for a breakout above the descending trendline or the Ichimoku Cloud as a bullish signal, while a drop below support could indicate further declines. Always consider external factors and news that could affect the market and employ risk management in your trading.
by MarsSignals
DOGEUSDT.2HFor the DOGE/USDT chart provided, here’s a professional technical analysis: Timeframe: The 2-hour timeframe depicted is useful for assessing short to medium-term trends and identifying intraday trading opportunities. Ichimoku Cloud: The price is currently within the Ichimoku Cloud, indicating a potential zone of indecision or consolidation. A breakout above the cloud could suggest a bullish trend, while a break below could indicate a bearish trend. Trendlines: The chart does not clearly show any trendlines, but typically, these would help identify the direction of the price movement. The absence of clear trendlines suggests the market might not have a strong directional bias at the moment. Resistance Levels (R1, R2, R3): There are multiple resistance levels marked on the chart. The price is nearing the first resistance level (R1). A break above this level could suggest bullish momentum, potentially leading to a test of higher resistance levels (R2 and possibly R3). Support Level (S1, S2): The support levels are well below the current price. If the price were to fall, these levels could serve as potential areas where the price might find a floor and potentially rebound. Relative Strength Index (RSI): The RSI is around 57.3, which is neutral, indicating neither overbought nor oversold conditions. This suggests there is room for the price to move in either direction without immediate pressure from RSI extremes. MACD (Moving Average Convergence Divergence): The MACD line is very close to the signal line and near the zero level, indicating a lack of strong momentum in either direction. Traders would watch for the MACD line to cross above the signal line as a bullish indicator or below it as a bearish indicator. Conclusion: The DOGE/USDT pair appears to be in a state of equilibrium, trading within the Ichimoku Cloud without clear direction on the MACD or strong sentiment from the RSI. The proximity to the R1 resistance level suggests that this could be an area of interest for both bulls and bears. A breakout or breakdown from this zone, confirmed by volume and other indicators, would provide a clearer directional bias. As always, it is crucial to consider the broader market context and news that may impact the asset's price and to employ risk management strategies when trading.
by MarsSignals