Bitcoin Elliott Wave Analysis – Key Breakout Levels to WatchBitcoin Elliott Wave Analysis – Key Levels to Watch
🚀 Bitcoin is currently at a critical decision point, and here’s my analysis based on Elliott Wave Theory and trend structures.
🔹 Wave Structure Analysis
The price appears to be following a five-wave impulse structure.
Wave (3) has extended well beyond Wave (1), confirming the impulse pattern.
Wave (4) has respected key support levels and has not overlapped with Wave (1), maintaining a valid Elliott Wave structure.
🔹 Key Scenarios to Watch
✅ Bullish Scenario (Wave 5 Expansion) 🟢
If Bitcoin breaks above the previous Wave (1) high, it could confirm Wave (5) continuation.
A breakout with strong volume could push BTC toward $109K - $130K levels.
⚠️ Bearish Scenario (Trend Break) 🔴
If the price fails to hold the trendline and breaks below $73,764, we could see a drop toward the $50K demand zone.
A confirmed trendline breakdown would indicate a deeper correction before any further bullish continuation.
🔹 What to Watch?
📌 Breakout confirmation above resistance
📌 Trendline support reaction
📌 Volume & momentum indicators (RSI, MACD)
💬 Let me know your thoughts! Do you think BTC will hit new highs or face a correction? 🚀🔥
This should be engaging and informative for the TradingView community! Let me know if you want any tweaks. 🚀📊
BTCUSD trade ideas
Could the Bitcoin bounce from here?The price is falling towards the pivot which lines up with the 50% Fibonacci retracement and could bounce to the 1st resistance.
Pivot: 83,509.64
1st Support: 81,260.77
1st Resistance: 88,031.16
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BTC/USD Expected to Rise: A Swing Trading Strategy AnalysisIntroduction
Swing trading is a popular trading approach that aims to capture short- to medium-term price movements in financial markets. For Bitcoin (BTC/USD), traders often rely on key technical indicators such as moving averages, the Relative Strength Index (RSI), Fibonacci retracements, and candlestick patterns to predict price swings. Based on a combination of these indicators, BTC/USD is showing strong signs of an upward move, making it an attractive opportunity for swing traders.
Technical Analysis Supporting BTC/USD’s Upward Move BITSTAMP:BTCUSD
1. Moving Averages Crossovers
One of the fundamental indicators used in swing trading is the moving average crossover strategy. If the short-term moving average (e.g., the 20-day EMA) crosses above a long-term moving average (e.g., the 50-day EMA), it signals bullish momentum.
Recent BTC/USD charts indicate a bullish crossover, suggesting an uptrend is likely to continue.
2. Relative Strength Index (RSI) Confirmation
The RSI measures momentum and identifies overbought or oversold conditions.
If RSI is above 50 and rising, it confirms strength in buying pressure.
If RSI was oversold (below 30) and starts moving upward, it signals a potential reversal.
BTC/USD recently bounced from an oversold region, indicating growing buying interest.
3. Fibonacci Retracement Levels Acting as Support
Swing traders use Fibonacci retracement levels to identify potential support and resistance zones.
BTC/USD recently retraced to the 0.618 Fibonacci level, which often acts as a strong support zone before an upward continuation.
4. Bullish Candlestick Formations
Candlestick patterns help traders predict price direction.
A bullish engulfing candle or hammer near key support levels reinforces an uptrend.
BTC/USD recently printed a bullish engulfing candle, a strong indication that buyers are in control.
5. Increasing Volume and Market Sentiment
Volume analysis is crucial in swing trading.
A rise in volume alongside bullish price action confirms genuine buying interest.
Current BTC/USD trading volume supports an upward movement, reinforcing positive market sentiment.
Fundamental Factors Supporting BTC/USD Upside
Beyond technical analysis, fundamental catalysts are contributing to Bitcoin’s expected rally:
Institutional Adoption: More firms are integrating Bitcoin into their portfolios.
Upcoming Halving Event: Historically, BTC rallies before and after halving cycles.
Macroeconomic Factors: Inflation and fiat currency devaluation increase demand for Bitcoin as a hedge.
Trading Plan for Swing Traders
For traders looking to capitalize on BTC/USD’s expected rise, here’s a suggested plan:
Entry Point: Around the 50-day EMA or Fibonacci support level.
Stop Loss: Below recent swing low to manage risk.
Target Price: Previous resistance levels or recent swing highs.
Trailing Stop: To lock in profits as the price moves upward.
Conclusion
Based on swing trading indicators, BTC/USD is showing strong bullish signals, making it an attractive trade opportunity. However, risk management remains crucial, and traders should continuously monitor market conditions. If BTC continues to hold key support levels while maintaining upward momentum, it could reach higher resistance zones in the near term.
Bitcoin Rejection from Resistance – Short Setup with Bullish PotBitcoin is currently testing a key resistance zone around $85,500, where previous price action showed strong selling pressure. A rejection from this level could lead to a short-term pullback towards $83,750 - $83,250 , aligning with a retest of the broken trendline before a potential bullish continuation.
🔹 Entry: $85,200 - $85,500
🔹 Stop-Loss (SL): $86,000
🔹 Take-Profit (TP): $83,750, with potential long re-entry from this zone targeting $86,000+
📊 Watch for price action confirmation within the resistance zone before entering. If BTC holds above $85,500, the bullish breakout could accelerate. 🚀
Bitcoin will have a breakthrough in the channel!Hello, traders
Bitcoin's wave ((4)) has successfully completed a W-X-Y corrective formation. If Bitcoin manages to decisively break above the key resistance level of 88,826, it could trigger a powerful impulsive rally, potentially driving prices toward the next major targets at 95,250 - 99,508 - 109,176.
Additionally, the parallel channel's lower trendline is offering substantial support, preventing further downside movement. A strong breakout above this channel could significantly enhance bullish momentum, increasing the probability of Bitcoin reaching new all-time highs.
Research: Interconnected Scalable ComplexitiesIntegrating another fibonacci channel into a formerly discovered interconnected structure:
Direction defined by HH's: Mar '24 & Dec '24; Mapping to LL Nov '22 Price breaking over this channel is a signal of continuation of bullrun in a bigger scale (like 2016 BR).
Interconnected Fractals in respect to Phi:
My work revolves around understanding and interconnecting scalable complexities, forming the foundation for a probabilistic framework that accurately models the underlying patterns and relationships driving price movements over time. Achieving this requires analyzing how price historically reacts to key levels and projecting this consistency for a future price coverage. This research will be used to build an indicator that automatically generates these levels in Pine Script.
Please, confirm in comment section if you would like me to do traditional subjective TA over objective Fractal Analysis. I highly appreciate your involvement!
BULLISH ON BTC This image illustrates the Bitcoin adoption curve, dividing the adoption process into four main phases:
1 . Early Adopters
2 . Early Majority
3 . Late Majority
4 . Laggards
The arrow in the image indicates that we are now at the beginning of the "Early Majority" phase. This means Bitcoin is no longer limited to a small group of enthusiasts and risk-takers but is starting to gain broader adoption among regular users and businesses.
The opportunity is still there, but we are gradually moving away from the early stages...
So, who will benefit from the next phase?
Bitcoin (BTC/USD) Short Trade Setup: Resistance Rejection & TargThis chart is a Bitcoin (BTC/USD) 15-minute price chart from TradingView, showing a potential short trade setup based on technical analysis. Here’s a breakdown of the key elements:
1. Resistance Zone & Short Setup
The purple highlighted area represents a resistance level around $85,358.
Price is consolidating within this resistance zone, suggesting a potential reversal.
The expected scenario involves a price rejection from this resistance, leading to a downward move.
2. Moving Averages
EMA (200, blue line) at $83,433: A long-term trend indicator suggesting a strong support zone.
EMA (30, red line) at $84,657: A short-term trend indicator, currently above the price, indicating a potential bearish setup if the price moves below it.
3. Target & Stop-Loss Le
BITCOIN Will it finally break the 2 month Resistance?Bitcoin / BTCUSD is having an impressive 1day candle,recovering the losses of the last 3 days and with the 1day RSI bouncing on its Rising Support.
Now it faces the most important Resistance of all, the Falling trend line that started on the January 20th ATH.
This is just under the 1day MA50 and this will be the 5th test.
If successful, it will be an early validation that the trend has finally shifted to long term bullish again.
The first technical target will be the 2.0 Fibonacci extension. Aim a little bit lower at the top of February's Resistance Zone at $100000.
Follow us, like the idea and leave a comment below!!
Is Bitcoin on the Verge of a Massive Breakout?Bitcoin's wave ((4)) has successfully completed a W-X-Y corrective formation. If Bitcoin manages to decisively break above the key resistance level of 88,826, it could trigger a powerful impulsive rally, potentially driving prices toward the next major targets at 95,250 - 99,508 - 109,176.
Additionally, the parallel channel's lower trendline is offering substantial support, preventing further downside movement. A strong breakout above this channel could significantly enhance bullish momentum, increasing the probability of Bitcoin reaching new all-time highs.
We will update you with further information.
BTCUSDT.. single supporting area , holds or not ??#BTCUSDT.. so market just reached at his most important area is around 81400 to 81600
And that is our in-between range area actually so keep close it and if market hold that area then again buying expected towards range upper line.
Note: below 81400 we will go for CUT n reverse on confirmation.
Good luck
Trade wisely
BTC/USD to 110K this quarter?In what scenario could BTC/USD reach 110,000 this quarter? To achieve this level, Bitcoin needs to stabilize within the 78,000 to 85,000 range while remaining above the crucial 75,000 to 76,000 support zone. A positive sign is that the recent downward movement from the peak of 109,000 has shown signs of exhaustion. Recent short-term price movements indicate that a bottoming process may be underway, suggesting that Bitcoin could start moving higher during the course of this quarter.
There is hope for BitcoinThere’s still hope for Bitcoin as long as it doesn’t break below the red line on the chart. That line represents a critical threshold; crossing it would push Bitcoin into a previous price zone where accumulation occurred, signaling the end of the current trend. Entering such a zone typically indicates a return to levels of prior consolidation.
As long as Bitcoin holds above the red line, optimism remains alive, and the first milestone will be breaking out of the downward trend that has been dominating Bitcoin recently.
Furthermore, Trump could end with the uncertainty and that would help BTC too.
Do you think BTC can move upwards in the upcoming days? Or do you think we will se the price breaking down the red line?
BTC - POSSIBLE LONG TERM SCENARIO (JAN 2024)This is my first post in 2024.
BTC - POSSIBLE LONG TERM SCENARIO (JAN 2024)
This is what I see BTC in a big picture at the moment. The lowest I anticipate (if happens) would be 36k. Moreover, BTC can correct when reaches around 48k. The top also can be around 150k in 2025. Let's see what will happen.