BITCOIN trade ideas
SPY/QQQ Plan Your Trade for 4-24 : Carryover PatternToday's Carryover pattern suggests we'll see similar price action today to what we saw yesterday.
We will very likely see a little support in early trading today, followed by a moderate meltdown-type trend.
I'm not expecting much to happen today - but we could get some news or other data that may prompt some type of bigger move in the markets.
Yesterday evening, I shared an "Update" video with everyone. In that video, I highlighted some of my active trades.
I've gotten a few messages from followers asking if I can share more data related to my trades. I'm sorry, but that won't happen in these FREE Plan Your Trade videos.
I shared some of my trades yesterday to highlight how I had moved into a moderate Short/PUT position, trying to stay ahead of the bigger market trend.
In other words, I'm not chasing the nickels. I'm setup to try to profit from the DOLLARS.
Gold and Silver may stay somewhat muted over the next 48 hours. But, I do expect them to try to melt upward.
BTCUSD appears to be setting up a BULL TRAP. I, personally, don't trust this upward price move because it is counter to the EPP price structure. I could be wrong.
But right now, I just don't trust the upside move in BTCUSD, knowing the SPY/QQQ should move into a deeper MAJOR LOW in early May.
Again, these videos are designed to help you build your skills and find your own style of trading.
I really do hope all of you are benefiting from my continued work to deliver these videos.
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Big Pop Could Come Here Where we're most likely to be in the general trend structure now is fairly subjective. We came up off the butterfly support mentioned previous which is a great start for the bull move but we're also still well inside of bull trap territory.
If we have a low or a bull trap forming, should be a big spike here.
BITCOIN BEST PLACE TO SELL FROM|SHORT
BITCOIN SIGNAL
Trade Direction: short
Entry Level: 92,665.30
Target Level: 86,001.16
Stop Loss: 97,096.62
RISK PROFILE
Risk level: medium
Suggested risk: 1%
Timeframe: 9h
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Bitcoin Elliott Wave Macro Update – Wave (5) 🟢 Macro Structure Since November 2022
Since the bottom in November 2022 (~15.5K), Bitcoin has been unfolding a clean impulsive structure, counted as:
(1) – strong breakout from the bear market lows
(2) – corrective pullback as a base
(3) – major impulsive rally with clear volume expansion
(4) – textbook correction right into the white Fibonacci zone, perfectly respected
Now, we are in Wave (5) – the final leg of this larger impulse!
🔄 Internal Structure of (4) → (5)
From the low of wave (4), the price action is developing in a classic 1-2-3-4-5 formation, where:
Wave 1 initiated the breakout
Wave 2 formed a shallow pullback
Wave 3 surged with momentum and volume
Wave 4 seems to have completed (or is finalizing now)
COINBASE:BTCUSD
Wave 5 is upcoming, potentially unfolding as an ABC structure (rather than a straight-line spike), showing a more measured grind toward the top
🔁 Cycle-Level Perspective
This entire impulse from (1) to (5) forms a macro Wave ③ in the larger Elliott Wave cycle.
Given the structure of Wave (5) so far, we may not see a vertical blow-off top but rather a controlled ABC move into the top zone.
🎯 Target Zone for Wave ③
$127,000 – $136,000
Based on Fibonacci projections of waves (1)–(3)
Strong psychological levels
Likely confluence with macro channel resistance and long-term projections
✅ Conclusion
Bitcoin is currently progressing through Wave (5) of the macro impulse that started in late 2022. The structure from Wave (4) suggests a well-organized path forward – possibly forming an ABC structure into the final high of macro Wave ③, with targets in the $127K–$136K zone. This level could mark a major turning point before a deeper corrective phase begins.
BTC IMPRESSESBitcoin continues to impress on the daily chart.
After breaking through both the long-term descending trendline and the key resistance at $88,804, price has now clearly confirmed a higher high – officially shifting the market structure back to bullish. It’s also holding well above both the 50-day and 200-day moving averages, showing strong momentum behind the move.
The breakout came on a surge of volume, validating the move and signaling genuine interest from buyers. While we could see a short-term pause or retest of the $88,804 level, the current strength suggests bulls are back in control – at least for now.
BTC → 𝐁𝐮𝐥𝐥𝐢𝐬𝐡 𝐏𝐫𝐞𝐬𝐬𝐮𝐫𝐞 !!!Bitcoin has completed and broken the ascending triangle in the monthly timeframe, The price is currently supported well, which can increase the price. I expect the price to rise to around 600k .
Give me some energy !!
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Pullback to 87-88KMorning folks,
So, our 2-week journey successfully over, market hits 93K targets and even overcome them a bit, completing H&S AB=CD extension. Now what?
In general we expect very good 1-3 months for BTC based on our recent fundamental report. Speaking about short-term situation. Market is obviously overbought a bit. So we prefer to wait for pullback somewhere to ~87-88K area before considering any new longs.
BTC on the verge of another accumulation range breakoutMorning all! So its time for a proper set of markups having spent the last few months breaking down the charts in video format for you all.
The last BTC update I gave was on 24/03, in the 4 year cycle analysis breakdown. In that video i was expecting lower pricing into SSL and the range lows once more, forming a bottoming structure before seeing a HTF bullish reversal come through, aligning with the 4 year cycle where we have time to continue higher based on past cycle data and where we are in the current cycle.
A month later and we have seen that come through wonderfully after the sweep of the range lows and its time to reanalyse now the direction is changing....
BTC has formed another accumulation range down in these discounted levels over the last couple months and there was nothing really interesting taking shape until the last couple of days thats give us some real confirmation of a trend change in this accumulation range that we can now work with. Unlike the August 2024 bottom, there isnt a massive influx of volume on the sweep event. I was able to call the bottom after such a sweep and high volume event back then just days after but in this most recent range we havent seen volume like back in August 2024, so ive had to be more cautious of further downside until we get some market shift confirmations to confirm intent and be on the safer side here whilst still holding my HTF bias of new ATHs before cycle end.
As shown on the charts, ive marked up the range and stages. We have carried out the sellers climax event, forming the range low, into the automatic rally (AR) forming the range high, moving into the secondary test (ST) with a failure swing back to the lows which forms the secondary test in phase B. From there we continued to range before putting in another range low deviation in the Spring event, with tests of the range low before seeing this explosive move come through from the spring event back to the range highs.
Volume also supports price action with a high influx of volume on the sellers climax low, stopping the prior trend, decreasing volume in the range into supply with a further increase in buyer volume as we deviate the lows in the spring event.
We have also broke structure bullish in the range and formed a HH, with a HL yet to be formed....
**So whats next? **
It seems a lot more clear now after the last couple days, and also confirms intent behind the range and i think its safe to say we have formed a bottom here and my focus is now on the upside on BTC from here. After this range high deviation into supply, in this new HH, i wouldn't be surprised to see BTC pull back to the midpoint of the range between $84,000 - $76,500, back into demand and form a last point of support/demand in the accumulation range forming a HL, before another leg higher as shown.
With how price has set up, with the demand left behind in the range and the bullish intent, my focus is on BTC forming a HL from demand before a continuation higher in line with my HTF bias that we will see new ATHs again before the cycle end. This is also supported in what im seeing on USDT.D and USDC.D where they are distributing in their ranges in supply with breakdowns in both and moving to a bearish trend.
Therefore, when price corrects into these levels i will be looking to allocate risk into the market during the discount of the HL and I will be looking for my buys on DOGE and any other opportunities, where im expecting higher lows in the market before continuations higher across the board. This doesnt mean everything though as many alts are yet to catch up and flip bullish, so my focus will be on the higher quality, stronger coins such as DOGE, but i expect the rest of the market to catch up eventually as BTC runs higher from these lows.
1D:
3D:
1W:
1M:
btc . bullish tp HIT . no more LONGS . rather SHORTthe bullish progression went well. now out of the LONG trade.
we're on SELL for the DAY. NO LONGS, risk/reward is crap.
we're on LONG once we see a decline and support holding, preferably during session timing confluence.
looking to SHORT with confluence and Session timing. towards 87k or lower.
looking to LONG with confluence from 87k if holds.
Bitcoin Cycle Update – Are We Nearing the Peak?Check out this BTCUSDT chart – we’re at GETTEX:92K today, and seems like things are heating up!
▸We’ve seen a Cycle Bottom in late 2022 - early 2023, followed by strong Bull runs in 2023 and 2024.
▸Those Consolidation phases (sideways channels) gave us the perfect setup for massive pumps!
▸Right now, we’re in a Pause Triangle after a big rally – but the Cycle Top could be just around the corner in mid-2025.
▸After that? A potential Bear phase – time to plan your moves!
💡 What’s your strategy? Are you riding this wave to the top, or preparing for the next dip? Let’s discuss 📨
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Embedded finance market to hit $7.2 trillion by 2030.
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The future belongs to agile stakeholders navigating a landscape shaped by AI, blockchain, tokenization, and smart finance connectivity.
Best regards, EXCAVO
_____________________
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Real Success Rates of the Falling Wedge in TradingReal Success Rates of the Falling Wedge in Trading
The falling wedge is a chart pattern highly valued by traders for its potential for bullish reversals after a bearish or consolidation phase. Its effectiveness has been extensively studied and documented by various technical analysts and leading authors.
Key Statistics
Bullish Exit: In 82% of cases, the exit from the falling wedge is upward, making it one of the most reliable patterns for anticipating a positive reversal.
Price Target Achieved: The pattern's theoretical target (calculated by plotting the height of the wedge at the breakout point) is achieved in approximately 63% to 88% of cases, depending on the source, demonstrating a high success rate for profit-taking.
Trend Reversal: In 55% to 68% of cases, the falling wedge acts as a reversal pattern, signaling the end of a downtrend and the beginning of a new bullish phase.
Pullback: After the breakout, a pullback (return to the resistance line) occurs in approximately 53% to 56% of cases, which can provide a second entry opportunity but tends to reduce the pattern's overall performance.
False Breakouts: False exits represent between 10% and 27% of cases. However, a false bullish breakout only results in a true bearish breakout in 3% of cases, making the bullish signal particularly robust.
Performance and Context
Bull Market: The pattern performs particularly well when it appears during a corrective phase of an uptrend, with a profit target reached in 70% of cases within three months.
Gain Potential: The maximum gain potential can reach 32% in half of cases during a bullish breakout, according to statistical studies on equity markets.
Formation Time: The wider the wedge and the steeper the trend lines, the faster and more violent the post-breakout upward movement will be.
Comparative Summary of Success Rates:
Criteria Rate Observed Frequency
Bullish Exit 82%
Price Target Achieved 63% to 88%
Reversal Pattern 55% to 68%
Pullback After Breakout 53% to 56%
False Breakouts (False Exits) 10% to 27%
Bullish False Breakouts Leading to a Downside 3%
Points of Attention
The falling wedge is a rare and difficult pattern to correctly identify, requiring at least five contact points to be valid.
Performance is best when the breakout occurs around 60% of the pattern's length and when volume increases at the time of the breakout.
Pullbacks, although frequent, tend to weaken the initial bullish momentum.
Conclusion
The falling wedge has a remarkable success rate, with more than 8 out of 10 cases resulting in a bullish exit and a price target being reached in the majority of cases. However, it remains essential to validate the pattern with other technical signals (volume, momentum) and to remain vigilant against false breakouts, even if their rate is relatively low. When mastered, this pattern proves to be a valuable tool for traders looking for optimized entry points on bullish reversals.
BTCUSD...15m chart patternlooking at a BTC/USD long trade setup:
Entry: 92,550
Stop Loss (SL): 92,000
Take Profit (TP): 93,000
Here's a quick breakdown:
Risk: 550 points
Reward: 450 points
Risk-Reward Ratio (RRR): ~0.82
This is a bit below the ideal 1:1 RRR. You might want to:
Tighten your SL slightly (if structure allows), or
Aim for a higher TP to improve the RRR
BTC Breakout!??Btc breakout after a long consolidation, back down to the 88k-90k or to a 618 long term support level.Bouncing off 75k.
Looks like BTC is having a nice breakout. First wave to the first major resistance $94k. Are we going to get a small pull back consolidation and a second wave to $96 or $111k?