Bitcoin/USD H4 timeframe, Swing trade Idea.Bitcoin/USD H4 timeframe, Swing trade Idea. Wait for rally to Supply zone and confirmation to drop to Demand.
Risk ti Reward 1:12.
BTCUSD.PM trade ideas
BTC IS LATEPretty calm weekend for now but BTC should get back to HH levels before testing the blue line again ;
the red circle shows the average area where BTC could break back down and fall to the 68/9s again.
Recommended Books for a Trader from Beginner to ExpertHere is my subjective list of recommended books for traders. While there is some overlap in the material—especially regarding technical analysis and risk management—each book offers unique concepts and tools, enriching your learning path and expanding your skillset. I'm not sharing any links but all books are easily accessible on the internet.
Beginner Level:
1. “Trading the Trends” by Fred McAllen
This book introduces readers to the fundamentals of market operations, technical analysis, and option trading. McAllen, a retired stockbroker and active investor, emphasizes the importance of recognizing market trends early and provides strategies suitable for long-term investing. The book includes real-world examples to help readers understand and apply trend-trading techniques effectively.
2. “How to Swing Trade” by Brian Pezim & Andrew Aziz
Co-authored by experienced traders, this book focuses on swing trading strategies, which involve holding positions for several days to weeks. It covers topics such as identifying profitable trades, managing risk, and understanding market psychology. Additionally, the book introduces fundamental analysis concepts, aiding traders in making informed decisions. Andrew Aziz is the founder of Bear Bull Traders, a community of independent stock traders and analysts.
Intermediate Level:
3. “Charting and Technical Analysis” by Fred McAllen
In this comprehensive guide, McAllen delves deeper into technical analysis, teaching readers how to interpret price movements and market trends. The book covers various charting techniques, candlestick patterns, and indicators, providing readers with the tools needed to make informed trading decisions. It's designed to help traders recognize market tops and bottoms, entry and exit points, and understand the dynamics of buying and selling pressures.
4. “How to Day Trade for a Living” by Andrew Aziz
This book offers a comprehensive overview of day trading strategies, including risk management principles and the configuration of stock screeners. Aziz shares his personal experiences and insights, making complex concepts accessible to intermediate traders. The book also provides guidance on developing a trading plan and maintaining discipline in the fast-paced world of day trading. Andrew Aziz is the founder of Bear Bull Traders, a community of independent stock traders and analysts.
5. “The Wyckoff Methodology in Depth” by Rubén Villahermosa
Villahermosa provides an in-depth exploration of the Wyckoff methodology, focusing on principles such as accumulation/distribution, markup/markdown, cause-effect and other. The book includes numerous case studies that demonstrate the application of these techniques, making it suitable for both day and swing traders. Readers will gain a solid understanding of market cycles and the behavior of different market participants.
Expert Level:
6. “Wyckoff 2.0” by Rubén Villahermosa
Building upon his previous work, Villahermosa introduces Volume Profile analysis and integrates it with Wyckoff principles. This advanced material is designed for experienced traders looking to deepen their understanding of market dynamics and enhance their trading strategies. The book provides detailed explanations and practical examples to help traders apply these concepts effectively.
7. “Markets in Profile” by Jim Dalton
Authored by a renowned industry expert, this book explores Market Profile analysis, a tool used by many traders to understand market behavior. While it may not be highly practical for all readers, it offers substantial insights and encourages traders to think critically about market structure and participant behavior. The book emphasizes the importance of context in trading and provides a framework for understanding market movements.
All Levels:
8. “Trading in the Zone” by Mark Douglas
Focusing on trading psychology, this book addresses the mental aspects of trading, such as discipline, confidence, and risk perception. Douglas provides insights into developing a winning mindset and overcoming common psychological barriers that traders face. It's a valuable read for traders at any level seeking to improve their mental approach to trading.
Let me know what you think
BTCUSD 1H TIMEFRAME Analysis and Trade Setup for BTC/USD:
Overview:
In the 1-hour timeframe, Bitcoin is displaying signs of a triple bottom formation around the $68,773 - $69,342 zone, indicating strong buying interest at this level. This pattern is often considered a reversal signal, suggesting a potential upward move if BTC can hold above this support zone.
Key Levels:
Support Zone: $68,773 - $69,342
Take Profit (TP) Levels:
TP1: $69,878 (minor resistance level, initial target)
TP2: $70,166 (near key resistance, moderate target)
TP3: $71,333 (stronger resistance, swing target)
TP4: $72,657 (major resistance, extended target)
Indicators:
Ichimoku Cloud: BTC is trading within the cloud, signaling a potential trend change. If BTC breaks above the cloud, it could further confirm bullish momentum.
RSI: The RSI is moving towards the oversold region but has yet to show a reversal, suggesting that buyers may step in soon.
MACD: The MACD is below the signal line, but a potential crossover could occur if buying momentum increases.
Trade Idea:
Entry: Look for entries around the current support zone ($68,773 - $69,342) if Bitcoin shows further bullish candlestick patterns.
Targets:
TP1 at $69,878
TP2 at $70,166
TP3 at $71,333
TP4 at $72,657 if there is enough volume and momentum.
Stop-Loss: Place a stop-loss just below the support at $68,773 to protect against unexpected downside.
Potential Path:
If BTC holds the support zone and confirms the triple bottom pattern, a rally could follow. A breakout above each target level can pave the way for further gains. Watch for consolidation at each resistance level for signs of strength before BTC moves higher.
This setup combines technical analysis with Ichimoku, RSI, and MACD indicators, aiming to capture a potential bullish reversal if the support zone holds. Remember to adjust your position size and trade management based on your risk tolerance.
Good luck with your trade, and may the market be in your favor! 📈
BTCUSD: Local Correction Ahead! Sell!
Welcome to our daily BTCUSD prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 68,452$
Wish you good luck in trading to you all!
BTC 120k by Dec 30 2024 - Jan 5 2025Following previous highs taking into consideration all time highs will happen during or after election Nov 5.
BTCUSDMaybe I’m wrong, but i will trust my years of trading bitcoin, a similar pattern back in 2021, after a good bull run there a drop down off is gonna be less than that time but I’m sure maybe we will reach de 44k, i will share this trade idea and lets see how it goes, i will probably close this trade by the elections.
SHORT Head and Shoulders Pattern The hype of the new ATH has fallen. We have a new pattern for shorts. I think we will go to 58k. good luck hunting!
BTCUSDT - Bullish - Break of Parallel Channel BINANCE:BTCUSDT is looking bullish with the break of a parallel channel and looks set for creating all time highs in the coming weeks!
Bitcoin PerspectiveMany people have been confused by this Bitcoin cycle. Here I offer a different perspective taking into consideration both the halving dates and US Interest Rates.
Keep in mind that interest rates tend to have a lagging effect on the market.
Observations:
- Slightly lagging behind interest rates higher rates seem to suppress Bitcoin's upward movement. Cause consolidation.
- When interest rate hikes paused Bitcoin immediately started climbing.
- Interest rates did not start rising until after the 2nd halving.
- Interest rate hikes had already paused before the 4th halving.
- During times of low interest rates Bitcoin has seen large growth.
- (Outside this chart) The last 2 times the FED started cutting rates we reached 0.25 in less than 1 1/2 years.
- The average Bitcoin Bull Cycle lasted between 756 days and 826 days.
- We are currently 665 days into this cycle.
I'll let you decide what this all means. I just thought I would share my observations.
bitcoin is copying golds monthlymade this one for gold a couple years ago (click on it and look further back) and turns out its all coming true
for bitcoin, buy the handle.
BTC LOOKING GOODBitcoin came within a few hundred dollars of a new all time high - then flushed leverage and dropped back below $70K. Not unexpected.
Today’s candle looks potentially very bullish, with a long wick down below support. We need to see it close up here.
Things still look great.
11/1/2024 BTCUSD. Daily and hourly11/1/2024 BTCUSD.
Hourly Buy above 70,257
Hourly sell below 70,003
Daily is midrange between buy line and BKH point.
Bitcoin Approaches All-Time HighMarket Update - November 1 2024
Fueled by positive market sentiment, the price of bitcoin exceeded $73,100, just shy of its all-time high: The Fed’s decision on rate cuts could further fuel a price increase, but bitcoin pulled back Thursday toward $70,000 amid a broader tech sell-off.
US spot bitcoin ETFs recorded $870 million in inflows on Tuesday, led by BlackRock’s IBIT with $629 million: It’s believed that bitcoin’s swelling price might be contributing to investment in these funds.
Florida CFO Jimmy Patronis has requested an evaluation of the feasibility of adding bitcoin to the state’s public pension funds: The state of Florida has typically shown keen interest in crypto initiatives, with Governor DeSantis having made proposals to allow businesses to pay tax in bitcoin in 2022.
Hong Kong Exchanges and Clearing Ltd. (HKEX) will launch the “HKEX Virtual Asset Index Series” on November 15, providing reference prices for BTC and ETH during the Asian trading day: The indexes aim to offer transparency and support for virtual asset investment decisions in the region.
Weekly sales of NBA Top Shot NFTs have hit a six-month peak, with 43,600 NFTs sold as of October 27, marking a 94% jump from the previous week: Renewed excitement from the season opener is driving the surge in activity after a slow offseason.
Bitcoin Surges Past $73,000, Pulls Back on Thursday
Bitcoin climbed above $73,000 Tuesday, marking the first time it breached this level in over seven months. The renewed surge comes near the end of a strong year for bitcoin, partly driven by the SEC’s approval of spot bitcoin ETFs and anticipated rate cuts in the US. Tuesday was also reported to be bitcoin’s biggest trading day in months, as volumes skyrocketed. However, the price of bitcoin retreated Thursday, pulling back toward $70,000 as the broader tech market recorded mixed earnings results.
Federal Reserve decisions in particular have been playing a role in bitcoin’s recent rally, with bitcoin rising from around $54,000 in early September as expectations for a rate cut increased. A majority of analysts currently anticipate a 25 bps cut November 7, which could drop rates to the 4.5% to 4.75% range. If this comes to be, it would most likely add to the current bitcoin trading frenzy.
Some analysts are bitcoin to climb even higher before the end of the year as market conditions become more favorable. It could depend on numerous factors, and will most likely be influenced in some form by the results of the upcoming US presidential election.
💱 Topic of the Week: Traditional Lending vs. Crypto Lending
🫱 Read more here
bitcoin pull back and resurge to new all time high We are seeing a rising wedge pattern on the 4 hr and daily charts ,which the distance at the beginning of the rising wedge pattern indicates a drop to around $62,800.00 . I would put in a long position at $62,800.00 with a tight stop loss. And with the uncertainty of the up coming election pushing the stock market down crypto is following suit
LONG OPPORTUNITY FOR BTCUSD AND ETHUSDFor a while now BTC on the higher timeframe has been bullish. A similar opportunity is presenting itself today, off weekly order block and daily IRL towards Weekly external range liquidity. With SMT between BTC and ETH on the daily Chart and a 4H CISD, I'll be looking for longs especially if the 15min TF is able to shift market structure to the upside after 4H CISD is created and respected.
Bitcoin retraces - But I see a very bullish & profitable BULLS
BITCOIN is looking to turnaround very strongly to the long-side at any moment. The timing has to be right because they are to Wed.
Buying opportunity in Bitcoin1. BTCUSD retested previous resistance and bounced back with strong candle.
2. It also respected the trendline as drawn on the chart.
3. It is also showing signs of bouncing from 200 EMA.
Possibility of uptrend It is expected that the downward trend will end in the current support range and we will see the beginning of the upward trend. If the 78.6% level is broken, the continuation of the downward trend is likely
Scalp longPossibly can be pullback before attacking the all time highs of lower high at the .786 golden pocket 71200-71800
BTCUSD Potential Trend ContinuationBTCUSDT has established a triangle pattern on the daily chart, which typically suggests trend continuation. This formation is taking shape just below the key psychological level at 70,000, hinting that the market might be gearing up for a breakout. The last weekly candle—a long-tailed bar—signals potential buying interest, reinforcing a possible upside. As we approach the monthly candle close, a close above September’s high could provide further confirmation of upward momentum.
In the short term, a pullback or a fake breakout of the triangle pattern may occur, potentially leading to a retest of the all-time high. The target is the resistance zone around 72,000
