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EconOptic| Is BITCOIN heading towards 90K?4-Hour Timeframe Analysis The ascending channel has been broken to the downside, followed by a pullback to the lower boundary of the channel. This movement allows us to use the Fibonacci Extension tool, which identifies the 0.618 level as a potential target for this wave. Simultaneously, I have drawn a Fibonacci Retracement tool on the daily timeframe, starting from the first low before the beginning of the previous upward wave (before breaking the daily box) to the recent high. This tool highlights the 0.382 level, which could indicate strong bullish momentum if it turns out to be Bitcoin’s bottom. Alongside these two tools, we also have a support zone in the same area. Lastly, the 1:1 risk-to-reward target of the ascending channel aligns with this support zone and the levels identified by the Fibonacci tools. Together, these factors form a Potential Reversal Zone (PRZ). However, despite these indications, I will not base my entry solely on them, as they are probabilities and do not guarantee a reversal. Bitcoin may still be inclined to decline further. I will only consider entering a long position if I see confirmed price support, stabilization, and the initiation of a new upward momentum. All of these remain probabilities for now.
by EconOptic
1
Bitcoin to the moon or doom?The BTC/USD monthly chart does appear to be forming a rising wedge pattern, which is often considered a bearish reversal signal.   What is a Rising Wedge? A rising wedge is a chart pattern characterized by two converging lines, with the upper line sloping upwards more steeply than the lower line.   This pattern suggests that buying pressure is weakening, and sellers are gaining control. A breakout below the lower trendline of the wedge is typically considered a bearish signal, potentially indicating a significant price decline.   Potential Implications: Market Top: If the rising wedge pattern plays out as expected, it could signal the end of the current uptrend and a potential market top. Price Correction: A breakout below the lower trendline could lead to a significant price correction, potentially wiping out a portion of recent gains. Black Swan Events: Unpredictable Nature: Black swan events are highly improbable and unexpected events that have a significant impact on the market.   Potential Impact: A positive black swan event, such as a major regulatory approval or a significant technological breakthrough, could potentially reverse the bearish trend and propel Bitcoin prices higher. Important Considerations: Chart Patterns are not Deterministic: Chart patterns are not foolproof predictions. They provide insights into potential market movements but should not be relied upon solely for investment decisions. Fundamental Analysis: It's crucial to consider fundamental factors, such as economic conditions, regulatory developments, and investor sentiment, alongside technical analysis.
BITSTAMP:BTCUSD
by ParabolicP
1
Optimism (OP):The Hidden Gem Poised for a 5x Rally—Don't Miss A tempting investment possibility, the OP/USDT chart shows a good potential for significant increase in the next bull run. This is a thorough analysis: ### **Main Points of Interest** 1. **Levels of Support and Resistance:** The present price of $1.804 indicates a good entry point because it is close to the strong support zone at $1.965. - The following key resistance levels—$2.10, $2.54, $2.97, and $3.43—indicate possible short-term price goals. - A far bigger rise could begin if the price breaks above $3.43. The price is closely interacting with the 200-day EMA ($1.969) and 50-day EMA ($2.102), as shown in **Moving Averages (EMA):**. A well-known bullish indication is the "Golden Cross" situation, which occurs when the shorter EMA crosses over the longer EMA. A breakout might be fueled by a robust rebound from these levels. Index of Relative Strength (RSI): Right now, the RSI is hovering close to the neutral zone at 47.24. This indicates that there is potential for substantial upside momentum as purchasing pressure increases because the asset is neither overbought nor oversold. Analysis of Volume: Growing investor interest is indicated by a recent increase in trading volume. Such volume spikes typically occur before price breakouts. Historical Trends: The OP/USDT saw tremendous increase from comparable levels during the previous bull cycle, swiftly hitting new highs. If this pattern continues, it might reach more than $10. Bullish Projections: OP/USDT might rise to $10 or higher in the event of a larger market bull run, which would be more than a five-fold return from current levels. The asset presents a great chance for long-term growth due to its technical positioning and solid fundamentals. Investment Plan: Short-Term Goal: $2.10–$3.43 (low resistance breakout levels) Target for the medium term: $5–$7.00 (strong resistance areas in prior rallies) Long-Term Goal: $10 or more (possible goal for the next bull market high) Appeal to Investors: OP/USDT is a high-upside investment because to its current undervaluation and track record of outperforming in bullish markets. It is a desirable asset for both short-term traders and long-term holders because of the possibility of exponential returns and the controllable downside risk brought about by solid support. Dollar Cost Averaging, or DCA, in a Strategic Investment Plan: Build a position gradually to reduce the risks associated with short-term volatility. During dips, increase your allocation to the $1.70–$1.80 area. Hold Long Term, or HODL: A long-term holding strategy might generate significant profits due to OP's solid fundamentals and alignment with upcoming market trends. Opportunities for Active Trading: For the long-term bull case, use swing trading around the resistance levels while maintaining a core position. Next Steps Monitor key metrics such as: On-chain activity (TVL, daily transactions) Exchange inflow/outflow data Social sentiment indicators Place alerts for breakout above $2.10 and $3.43. Review quarterly development updates from the Optimism Foundation for news on network upgrades or partnerships.
Long
by PROFITPULSE10X
Lingrid | BITCOIN End-of-Year Market CORRECTION PhaseThe price perfectly fulfilled my last idea. It hit the target level. BINANCE:BTCUSDT has dropped below the key level of 100,000, and the market is now moving sideways below this point. We might see some shakeouts in the market. It's possible that the sideways trend could continue until the middle of January next year. Currently, the price is slowly approaching the support level at 90,000, where it has bounced back several times before. I think the market may dip below this level to take liquidity before rising to higher levels. I expect a rebound from the support zone between 85,000 and 88,000. My goal is resistance zoen around 105,900 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
1
TOTAL is super bullish (1W)TOTAL also appears to have completed a large triangle and entered a bullish phase from the point where we placed the green arrow on the chart. The structure of this bullish phase is not yet clear, but it is evident that only the first wave of the bullish phase has been completed. Currently, the price is in the second corrective wave, which will likely conclude in the coming weeks. Afterward, TOTAL is expected to enter the third wave, which is a bullish wave. We have identified the upcoming targets for TOTAL. In this corrective wave we are currently in, the market will experience pumps and dumps aimed at liquidity hunting, so you should be cautious with your futures positions. For risk management, please don't forget stop loss and capital management Comment if you have any questions Thank You
CRYPTOCAP:TOTAL
by behdark
1
$SOL almost backCRYPTOCAP:SOL took a little longer to arrive. But now it seems that he actually wants to return to his channel. I also see this happening in RSI on the 4 hour chart. If this continues, we could easily go back to the bull side with our $SOLANA. For now I see it positively and I think if Bitcoin does not complete its correction or if I am just completely wrong, we may enter the bull market again. The more charts I see, the more positive I become. Be kind to the world and each other!
BINANCE:SOLUSDLong
by RidgerR
XRP Analysis – December 23, 2024Hello, this is Greedy All-Day. Today's chart analysis is on XRP. Daily Chart Overview: Looking at the daily chart of XRP, we can see that since December 1, 2024, the chart has been forming a pennant pattern. As per the pattern's characteristics, we should look for either a breakout above resistance or a breakdown below support. Until that happens, the general approach is to remain on the sidelines during the consolidation phase. Currently, the price is still within the pattern, so there is no clear direction yet. Although we’re seeing some correction, we cannot call this a full correction just yet, as the consolidation may simply be a brief pause before a potential continuation of the upward move. The concern is the red box area, where the Lagging Span (or Lagging Line) is about to break through the candles. If this occurs, the Lagging Span may face resistance from the candles above. For the trend to continue upwards, we need the price to stay above the middle of the pattern. If not, we might see a weakening of buying pressure. Risk of a Pennant Breakdown: If XRP breaks down below the pennant pattern, the next support level to watch is at 1.847. Should this level also be broken, it could complete a descending triangle, with a target around 58% lower. As you can see, this is close to a key resistance level from the previous upward movement. Therefore, breaking below 1.847 is critical. Further Historical Data Analysis: Looking at more historical data on the daily chart, we can see that XRP previously broke above a major resistance level (the red box) and tested it as support before rebounding. However, if XRP breaks below 1.847, it will likely enter a consolidation phase after completing a new pattern. In the past, the next frame showed a significant drop toward 0.766 after a similar strong rise. This suggests that a sharp decline is highly likely if the current breakout fails to hold. This analysis highlights the current critical levels for XRP. The next steps depend on whether the price can maintain its position above support or if a breakdown occurs, potentially leading to a more significant drop. Conclusion: In summary, XRP is currently in a pennant pattern, and we need to watch for a breakout above resistance or a breakdown below support. While there’s still potential for an upward move, the key levels to watch are 1.847 and the red box area. A breakdown below 1.847 could lead to a significant decline, potentially completing a descending triangle with a target lower than the current price. It’s crucial to wait for clear price action before taking action, as the market is still uncertain. If the price breaks lower, we could see a strong correction, but if it holds support and resumes the upward trend, it could be an opportunity for further gains.
by Greedy_allday
Bullish tendency is broken 101-102K for sellingMorning folks, So, BTC was not able to stay above predefined support area and drop right back to the daily 92-95K level. It means that existing bullish context on daily chart is done. In general, this is reasonable - we're going to the Xmas Holidays and inauguration. There are a lot of uncertainty with coming D. Trump policy. Especially when JPowell said that the Fed doesn't intend to own any BTC... so inner conflict is ready. So, retracement might be deeper in nearest month. Since BTC is overextended down a bit, the first thing we expect upside technical bounce, somewhere to 101-102K area. Then, if we're correct in our analysis, downside reversal should happen with potential H&S pattern.
COINBASE:BTCUSDShort
by Sive-Morten