[Bitcoin] next steps (update)Latest update of my Bitcoin predictive model: in the coming months, BTC will make one last rise followed by a fall to the major pivot.
Xbt
Bitcoin is entering the sell-zoneBitcoin's price is hovering at a critical level, and the potential for a deeper bearish move looms large. Historically, when Bitcoin dips below key support levels (56999 and 49999), it can trigger algorithmic trading bots to initiate aggressive sell-offs, accelerating price declines faster than manual traders can react. This phenomenon has occurred in previous bear markets, where sharp drops activated cascades of sell orders, pushing prices down rapidly.
Currently, BITGET:BTCUSDT.P Bitcoin is flirting with the $55,000 support zone, and failure to hold this level could signal the beginning of a deeper decline. A break below FWB:42K may lead to a swift drop toward $20K, as bearish sentiment is dominating the market, particularly with futures traders leaning heavily toward short positions. The broader market is likely to interpret this breach as a confirmation of sustained downward pressure, which could drive Bitcoin to revisit the $15,000 level—similar to the 2022 bear market.
For those who purchased BINANCE:BTCUSDT.P Bitcoin around the $50,000 mark, the risk of a significant drawdown looms large, with potential losses of 50% or more if Bitcoin plunges toward $25,000 or lower. Further downside could see Bitcoin retrace all the way to $15,000, reflecting the magnitude of the correction experienced during the last major crash in 2022.
Given the current technical outlook, the absence of bullish momentum combined with major resistance levels at $60K and $70K suggests that a rebound might be unlikely without strong buying pressure. A breakdown in the $40K area could accelerate bearish moves as algorithmic bots kick in, potentially leading to a rapid sell-off and testing lower levels.
Investors and traders should stay vigilant, as any further breach of support could lead to a prolonged bear market, reminiscent of Bitcoin’s previous crashes and so a sell-off could happen quicker than you can open a short position.
Bitcoin , What happened to Him! ? Based on Elliott's theoryIn The Name Of God, Who created the pen
THE BEAR RETURN TO THE CAVE
next target about 40000$
i think if power of correction wave in the primary cycle between 70% to 80%
then
In the future, buy bitcoin as close as possible to the double horizontal black lines .
double black lines = BIG-TICKET in Investing Long-Term
thank u 4 notice
Bitcoin - Where It Should Be Is Correct.
Bitcoin - Where It Should Be Is Correct
Bitcoin hovering around this price range in a sideways channel for a long period of time is exactly where it should be in cycle where weak hands get bored and sell to strong hands.
Z-Score showing no signs of anywhere near an overheated market, Spot ETF's are still very underallocated, the RSI Halving 100, Weekly repeating the same sideways "boring" market we have always seen.
When this trend eventually ends the price flips to the upside in a very short period of time catching most of the market off guard. Until the flip happens which looks like it will happen before year end, any Bitcoin price under $100,000 is a gift.
Eyes on Bitcoin. its looking more and more like 2017 as the weeks go on.
Bitcoin - COVID vs RECESSION fear comparison#BTC #Analysis
Description
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The monthly chart for Bitcoin is displaying a pattern reminiscent of the 2020 COVID crash chart. In 2020, Bitcoin experienced a similar crash, leading to a significant wick in the monthly chart. We are currently observing a similar pattern in 2024, attributed to the market crash caused by recession fears. I anticipate a recovery in the price similar to what was witnessed in 2020. Such a recovery would confirm the presence of a bull market.
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Enhance, Trade, Grow
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Best Regards,
VectorAlgo
Bitcoin - A clear reversal is needed for bullish trendBitcoin is currently trading in the support zone around the $58,000 range. This support level has been tested multiple times and has held strong each time.
For the bullish trend to continue, we need to see a clear reversal from this $58,000 zone. However, a breakdown from this support could push the price further down to the $54,000 range.
At this moment, it’s uncertain which direction the price will move, but I’m optimistic that it will trend upward since the support has held strong multiple times.
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Cheers,
GreenCrypto
Bitcoin - A short term overviewBINANCE:BTCUSD (1H CHART) Technical Analysis Update
BTC is currently trading at $58593 and currently trading at the support zone. Looks like price is consolidating around 58K range. A break out or break down from this consolidation will result in price reaching the next target.
- If price breaks down then the next support for bitcoin is around 55K range.
- If bounces back from this range then next resistance is around 61K range.
Let's see how this plays out.
It looks like price will mostly bounce back from this range. This gives us a long opportunity
Entry: 58K range
StopLoss: 56500
TP1: 59000
TP2: 60000
TP2: 61000
Don't forget to keep stoploss.
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Cheers
GreenCrypto
BTC / BITCOINBTC/USDT Analysis: High Time Frame Insight
The thick line on the chart represents a higher time frame, likely a weekly or monthly level. This indicates that the marked levels or events around this line could have a significant impact on the long-term price movements of Bitcoin.
Current Price Action:
The chart shows a gradual downtrend, which might continue until around August 18th, potentially marking a local bottom. Red dotted lines suggest periods where the market could reach local peaks, followed by possible corrections.
Strategic Entry Points:
Green lines represent optimal periods for considering long-term entry points, especially if the trend shows signs of reversal. The thick line, drawn from a higher time frame, suggests that current price action is occurring within the context of a broader trend, possibly leading to either a major correction or a substantial move.
These time frames are crucial for strategic investment planning, as they indicate potential turning points in market sentiment.
BTC - Price is still retesting#BTC/USDT #Analysis
Description
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+ It's fascinating to observe that this retest remains in progress, consistently holding up as a support level over an extended period. This resilience suggests a strong underlying foundation, even as market conditions fluctuate.
+ As the downtrend continues to unfold, it indicates that future retest attempts may push to even lower price levels while still maintaining their effectiveness. This pattern underscores the importance of carefully monitoring these price movements, as they could provide valuable insights into market behavior.
+ The key element to focus on here is the continuation of the trend. For Bitcoin to reverse this downtrend, it must demonstrate robust buy-side volume during these retests. A strong influx of buying interest at these critical junctures could signal a potential shift in market sentiment, paving the way for a possible upward momentum.
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Enhance, Trade, Grow
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Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Bitcoin Cup and Handle Pattern - Last Leg BINANCE:BTCUSDT (1W CHART) Technical Analysis Update
Bitcoin has recently formed a well-defined cup and handle pattern, with the price currently in the final stage of the handle. A recent market dip, fueled by recession fears, briefly pushed Bitcoin's price below $50,000. However, it quickly rebounded and is now trading at around $59,000.
If this reversal trend continues, we could see Bitcoin's price reach the resistance level of $65,000 to $67,000, marking the top of the handle. A breakout from this resistance zone would confirm the continuation of the bull run. The upcoming weeks will be critical in determining whether the bull run will persist or if a bear market is on the horizon.
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GreenCrypto
Bitcoin (BTC) - Comparing 2020 vs 2024#BTC/USDT #Analysis
Description
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+ After the Bitcoin halving, the expected price correction began in late 2019 and continued through the first quarter of 2020.
+ In 2020, BTC was anticipated to break out from resistance after 35 weeks of correction. However, due to the unexpected COVID-19 black swan event, the price experienced an even further decline.
+ Currently, we are observing a similar pattern following the 2024 Bitcoin halving. The price correction began as expected, and last week, there was an additional 33% drop from the peak (compared to a 53% drop in 2020).
+ If the recovery follows a normal pattern, the price is expected to break out from resistance after 35 weeks of correction, which would occur in November 2024.
+ If another black swan event were to occur, the price could potentially crash further, dropping to the 37K-40K range. However, this is unlikely unless such an event happens.
+ Let’s see how this situation unfolds.
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Enhance, Trade, Grow
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Best Regards,
VectorAlgo
Bitcoin - Weekly chart Update - Bears will lose#BTC/USDT #Analysis
Description
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+ Bitcoin has bounced back with a 15% recovery from the recent market low, a positive sign indicating resilience. The price is currently holding above a critical support level, which is crucial for maintaining bullish momentum.
+ While the price is trading above support, a major drop below this level would be concerning for Bitcoin’s long-term outlook. The next significant support is at $45K, a crucial trend line. A break below $45K could signal the onset of a bear market.
+ Despite the recent recovery, August and September are expected to be challenging months for Bitcoin. The market is likely to range with multiple spikes and drops, potentially leading to liquidations for both bulls and bears. This period of volatility requires careful risk management.
+ I remain optimistic that Bitcoin will hold above the $50K level, with a gradual recovery likely from this area. Maintaining support above $50K is essential for avoiding a deeper downturn and sustaining the long-term bullish trend.
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Enhance, Trade, Grow
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Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
Bitcoin - Reversal is imminent - CME Future Gaps#BTC/USDT #Analysis
Description
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+ It's unusual to see consecutive unfilled CME futures gaps, but recent market volatility has created just that scenario. Historically, CME gaps tend to be filled sooner or later, and current market conditions suggest that prices may be heading directly towards these gaps.
+ The appearance of two consecutive unfilled gaps is a rare occurrence. Given the strong historical tendency for these gaps to be filled, it’s likely that the market will attempt to revisit these levels.
+ The recent bounce from support has been robust, indicating strong upward momentum. This move bolsters confidence that the gaps will be filled in the coming weeks, especially as traders and investors often target these areas.
+ With the current price action showing strength after the bounce, it seems increasingly probable that the price is headed towards the gaps. If this momentum continues, we could see these gaps filled relatively soon.
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VectorAlgo Trade Details
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Entry Price: 57000
Stop Loss: 50000
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Target 1: 59900
Target 2: 61000
Target 3: 65000
Target 4: 70000
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Timeframe: 1D
Capital Risk: 1-2% of trading amount
Leverage: 5-10x
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Enhance, Trade, Grow
---------------------------------------------------------------
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
What's next for bitcoin ?Crypto market had one of the worst days in the history with sudden market crash. From the peak market had crashed 29%, this is the major correction since the halving. This market crash fuelled by the recession fears.
47-48K range acted as a support during this crash and it held strong, looking the current bounce back, i'm assuming this support will hold, if the this support breaks then next target for bitcoin is at the support level around 37-39K.
current recovery of the market is showing a strong upward momentum and looking similar to COVID Crash.
August and September month is gonna be difficult month for crypto holders, we can expect continued consolidation and and drop while holding 48K range. If the we have a bull run as everyone expecting then it's gonna be starting around October.
Let's see how it plays out.
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Cheers
GreenCrypto
Bitcoin update 29.07.24After several weeks of correction. No one doubts Trump's victory in the next US presidential election, so we see a positive trend in the market. The fact that Trump is positive about cryptocurrencies and his proposal to appoint Larry Fink (head of BlackRock) to the post of US Treasury Secretary, of course, causes a big stir in the sphere, as I wrote in previous posts about RWA Larry Fink () has taken tokenization and this sphere into his hands and if he becomes in this post then, the US license for RWA blockchain will be with a company with people from BlackRock I do not doubt that I will say more if he is not even in an office as Treasury Secretary, the blockchain with US license will still be with a company from BlackRock.
About bitcoin.
We are now near the upper level and ATH of Bitcoin. With the news of unlocking a large amount of BTC from MTGox, many people started shorting with stop losses above ATH. So stop losses will be liquidated, liquidity will be reached (red box), and soon, we will see a new top.
We still have a bull market, and according to my forecasts below, it will continue until September 2025. ()
The cryptocurrency market is a market of expectations, and the number one expectation is President Trump. Buy-on rumors and sell-on facts are the only things that can be said with certainty, and early November may already be a fact and a minor correction. Although the last time Trump was elected, the market reacted with a strong upward rally.
Best regards EXCAVO
What's next for BTC ? Two ScenariosScenario 1:
If the current bearish correction ends at this support zone, the price will hold here. Further consolidation will occur for a couple of hours, followed by a slow bounce back. We might see minor resistance during this reversal, with the next target around 69K.
Scenario 2:
If the current support zone fails to hold, the next support is around the 63K zone. This is a stronger support compared to the current one and is likely to hold as the overall sentiment is bullish. We can expect the price to consolidate around this zone, then bounce back and consolidate around the 65K resistance, and finally hit the target of 69K.
Feel free to share your thoughts and insights.
Don't forget to like and follow us for more trading ideas and discussions.
Best Regards,
VectorAlgo
BTC - Navigating the Recent Decline and Key Technical IndicatorsDear Traders, today I want to provide you with a trading analysis of Bitcoin's recent decline from $70,000 to $66,000, we will utilize several technical analysis tools, including Fibonacci retracement levels, Bollinger Bands, Ichimoku Cloud, Exponential Moving Averages (EMAs), and other moving averages. This analysis will explore key price movements, support and resistance levels, and potential future trends.
1. Fibonacci Retracement Analysis
Fibonacci retracement levels are commonly used to identify potential support and resistance levels based on the key Fibonacci ratios (23.6%, 38.2%, 50%, 61.8%, and 78.6%). In this scenario:
- Retracement Levels:
- From the high of $70,000 to the low of $66,000, key Fibonacci levels are:
- 23.6% retracement: Approximately $66,950
- 38.2% retracement: Approximately $67,520
- 50% retracement: Approximately $68,000
- 61.8% retracement: Approximately $68,480
- 78.6% retracement: Approximately $69,090
The recent decline saw Bitcoin retracing to the 61.8% level, suggesting a strong support area. A failure to maintain this level could indicate further downside potential.
2. Bollinger Bands Analysis
Bollinger Bands consist of a middle band (usually a 20-period SMA) and two outer bands set at a standard deviation away from the middle band. They help identify volatility and potential overbought or oversold conditions.
- Observations:
- As Bitcoin declined, it approached the lower Bollinger Band, suggesting a potential oversold condition.
- A rebound from this level might indicate a short-term relief rally, while a close below could signal continued bearish momentum.
3. Ichimoku Cloud Analysis
The Ichimoku Cloud, or Ichimoku Kinko Hyo, provides insight into trend direction, momentum, and support/resistance levels.
- Components:
- Tenkan-sen (Conversion Line): A shorter-term moving average, usually set at 9 periods.
- Kijun-sen (Base Line): A longer-term moving average, typically 26 periods.
- Senkou Span A & B (Leading Span A & B): Form the cloud, representing potential support/resistance.
- Current Status:
- Bitcoin's price fell below the Ichimoku Cloud, suggesting a bearish trend.
- The Tenkan-sen and Kijun-sen have made a bearish crossover, indicating potential continued downside.
- The Senkou Span A has crossed below Senkou Span B, reinforcing the bearish sentiment.
4. Exponential Moving Averages (EMAs) and Other Moving Averages
EMAs give more weight to recent prices, making them responsive to new information. Key EMAs to watch include the 21-day, 50-day, and 200-day.
- EMA Observations:
- 21-day EMA: Has turned downwards, signaling short-term bearishness.
- 50-day EMA: Positioned above the current price, acting as resistance. A failure to reclaim this level could confirm the bearish trend.
- 200-day EMA: Often considered a long-term trend indicator. Currently below the 200-day EMA suggests a longer-term bearish outlook.
- Other Moving Averages:
- The 100-day SMA is also crucial, currently providing a near-term resistance level. A breakdown below this moving average may lead to increased selling pressure.
5. Momentum Indicators
Additional indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) can provide further insights:
- RSI: Nearing oversold levels, indicating that a short-term reversal could be on the horizon.
- MACD: The MACD line has crossed below the signal line, suggesting bearish momentum.
Conclusion and Future Outlook
The technical analysis indicates that Bitcoin is currently in a bearish phase, as evidenced by the price's position relative to key moving averages, the Ichimoku Cloud, and other indicators. The 61.8% Fibonacci retracement level around $68,480 serves as a crucial resistance point. A sustained move above this level, along with reclaiming the 50-day EMA, could signal a potential recovery.
Conversely, continued weakness below the 200-day EMA and the lower Bollinger Band suggests further downside risk, with potential support around the $66,000 mark. Traders should closely monitor these levels and indicators for signs of either a reversal or continuation of the current trend.
Bitcoin correction scenarioAs I promised in the previous post, I am doing a more detailed analysis and positive variant and completion of the correction.
Having selected a lot of fractals, about 20% of the low after the previous high made a deep correction (more than 50%) and these movements were impulsive with a quick return. In our case it will be a break of the channel support line and it will be logical to reach the liquidity zones (which are marked with a green box).
We can see on the chart 100k I am actually still skeptical about these numbers and now it is still hard to believe that in this bullish move we will see it, but this is a cryptocurrency and here the best and worst scenarios can happen. That's why we need to be more careful - less leverage or no leverage, risk management, patience, reserch.
Lastly, a market like this will not always be like this, and now until September 2025 with full immersion and maximum concentration you can make a good result.
That's why I propose to do it together.
Best regards EXCAVO
Bitcoin - A Long Term Analysis - Cup and Handle PatternBitcoin has formed a promising cup and handle pattern on the weekly chart. Currently, the price is trading within the handle and appears poised for a breakout. A confirmed breakout from the handle could propel Bitcoin's price above $100K.
The handle formed during the correction period following the Bitcoin halving, which was anticipated. Fundamentally, a bull run is expected during the last quarter of 2024 and the first quarter of 2025, which suggests a natural price increase. Breaking the previous all-time high around FWB:73K would further drive the price upward, with my target for this bull run set at $140K.
For a safer trade, consider entering after a breakout above $73K. For those seeking an early entry, you can buy at the current price and hold until the peak of the bull run.
Stay tuned for more updates.
Cheers,
GreenCrypto
Bitcoin - Next Resistance is Previous ATHAfter price has consolidated around the 200 EMA range price has bounced back from the 200 EMA.
Also price has broken local resistance around 65K which was crucial to for the bullish trend to continue. Currently price is around 67K and heading towards the resistance which is around the previous ATH 73K (overall resistance zone is around 70-73K range)
I'm expecting price to easily breach the 75K barriers and we have decent trade opportunity here.
We can enter a long trade at the current price with local support of 65K as the SL
Entry Price: 67K
Stoploss: 64K
Target 1: 68K
Target 2: 69K
Target 3: 70K
Target 4: 72K
Don't forget to keep stoploss.
Cheers!
GreenCrypto
#BTCUSDT #1h (ByBit) Descending trendline breakoutBitcoin seems to have found bottom and is forming a local uptrend, looks good for bullish continuation after regaining 100EMA support.
⚡️⚡️ #BTC/USDT ⚡️⚡️
Exchanges: ByBit USDT
Signal Type: Regular (Long)
Leverage: Isolated (13.0X)
Amount: 4.9%
Current Price:
57720.9
Entry Targets:
1) 57411.4
Take-Profit Targets:
1) 60987.5
Stop Targets:
1) 55618.9
Published By: @Zblaba
CRYPTOCAP:BTC BYBIT:BTCUSDT #1h #Bitcoin #PoW bitcoin.org
Risk/Reward= 1:2.0
Expected Profit= +81.0%
Possible Loss= -40.6%
Estimated Gaintime= 2-3 days
#BTCUSDT #4h (ByBit) Falling broadening wedge breakout & retestBitcoin regained 50MA support and is pulling back to it, seems ready to pump towards 200MA resistance after.
⚡️⚡️ #BTC/USDT ⚡️⚡️
Exchanges: ByBit USDT
Signal Type: Regular (Long)
Leverage: Isolated (12.0X)
Amount: 5.1%
Current Price:
62917.6
Entry Targets:
1) 61920.3
Take-Profit Targets:
1) 65955.6
Stop Targets:
1) 59897.6
Published By: @Zblaba
CRYPTOCAP:BTC BYBIT:BTCUSDT.P #Bitcoin #PoW bitcoin.org
Risk/Reward= 1:2.0
Expected Profit= +78.2%
Possible Loss= -39.2%
Estimated Gaintime= 1 week
