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BTCUSD trade ideas

$BTC Flipping Resistance to Support?! Based on the provided image and the context from the web results, here's a layered analysis: 🔍 Analyzing the #BTCUSD Weekly Chart at All-Time Resistance! We're currently witnessing Bitcoin testing an all-time resistance trendline, which is a significant milestone in its price history. Here's a detailed look: 1️⃣ Initial Growth: From late 2017 to early 2019, Bitcoin saw a significant rise, peaking at around $20,000 before correcting. 2️⃣ Bear Market: Post-2019, Bitcoin endured a prolonged bear market, hitting lows around $3,000. 3️⃣ Recovery Phase: The recovery began in 2020, with Bitcoin breaking through previous resistance levels. 4️⃣ Bull Run: The 2021 bull run pushed Bitcoin to new heights, surpassing $60,000. 5️⃣ Current Trends: Bitcoin has now reached an all-time resistance trendline, and according to Elliott Wave Theory, we still have the second half of the 3rd wave to complete. This suggests potential for further bullish movement. Possibly flipping the trendline from resistance to support. The chart also features: 🟣 Ascending trend lines showing the overall bullish trend. 🔴 Purple lines indicating potential resistance points. 🟢 Green lines highlighting support levels. Given Bitcoin's position at this critical resistance trendline, the question arises: Will this now flip resistance to support and begin the new age of Bitcoin? According to Elliott Wave Theory, if Bitcoin successfully breaks and sustains above this resistance, it could indeed flip it into support, signaling the start of a new bullish phase. This would align with the completion of the 3rd wave, which is often the strongest in the sequence, indicating a powerful continuation of the trend. However, this is contingent on several factors including market sentiment, regulatory news, and broader economic conditions. While the technical indicators are promising, the real-world impact of these factors cannot be underestimated. What do you think about Bitcoin's potential to break this resistance and enter a new era? Share your thoughts below! 🚀💹 Please note that this analysis is based on the provided chart and general knowledge from related web results. For specific predictions, always consider multiple sources and do your own research.
COINBASE:BTCUSDLong
by globulltrader
BTC BUY NOW BTCUSD (Bitcoin) Analysis: On the 2-hour chart, Bitcoin is approaching a key demand zone near the $94,000-$95,000 area. A potential bounce is anticipated from this support level, with bullish divergence forming. The outlined structure suggests a recovery towards the $98,000-$102,000 resistance levels if buyers regain control. Projection: Monitor for bullish momentum confirmation. If the price holds above the key support zone, the next leg up could target higher levels, with intermediate consolidation expected around $100,000. Keep an eye on lower timeframes for precise entry and exit points.
BITSTAMP:BTCUSD
by FOREXQUEEN_1
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
30% correction to 70k next for Bitcoin ?? — December 3rd, 2024** short term forecast, days and weeks ahead ** On the above weekly chart price action leaps up 40% since all of 30 days ago. A number of reasons now exist for a bearish outlook. The include: 1) Price action and RSI support breakouts. 2) Regular bearish divergence. Multiple oscillators now print lower highs with higher highs in price action. 3) Price action is outside Bollinger Band on the weekly. Remember 95% of all price action trades around the mean, which is currently $70.2k 4) Hanging man candle print. A perfect example of buyer exhaustion. What does this means for alt tokens? That depends. Overbought tokens (XRP, Dogecoin, XLM, etc… ) they will join the correction with Bitcoin. A select few will enjoy the liquidity that comes from them. Do you know which? Is it possible price action continues to rise? Sure. Is it probable? No. Ww
BITSTAMP:BTCUSDShort
by without_worries
42
Bitcoin Down to 3666?Bitcoin’s Bull Run: A Potential Correction Ahead Bitcoin has seen a remarkable bull run, but a correction to $3,666 may be imminent. Historical patterns show Bitcoin often retraces 70-90% after peaks (e.g., 2017-2018 and 2021-2022). Current overbought indicators, like RSI levels above 70, and declining buyer activity suggest cooling momentum. Affordability is also a concern, with high prices limiting participation by retail investors. Could Bitcoin Become the US Official Currency? With global trends like El Salvador adopting Bitcoin as legal tender, it's plausible the US could consider similar moves under specific leadership. Bitcoin's capped supply and decentralization align with economic policies that challenge traditional banking and inflationary pressures. Why Market Inclusivity Matters Most of Bitcoin’s wealth remains concentrated among early adopters and whales, mirroring the inequality seen in stock markets. Broader adoption by the general population is essential for Bitcoin’s long-term legitimacy and sustained bull runs. Be Prepared for Market Turbulence On-chain divergences (e.g., lower transaction volumes) and macroeconomic tightening hint at potential turbulence. Bitcoin corrections tend to be swift, often concluding within 1-2 years, as seen in past cycles. Observing these trends is vital for navigating the market ahead. A Word of Caution Average investors should be wary of opportunistic individuals or schemes promoting Bitcoin as a "guaranteed" investment at current levels. The market’s volatility could leave latecomers holding the bag during a downturn. Always conduct thorough research before investing.
CRYPTO:BTCUSD
by resurrector007
BTC possible 30% correction before real bull run in early 2025.BTC is looking quite ready for a correction down to previous ATH. A possible $69-72k wick down, I expect $75-79k to be the actual bottom once the bottom is in, there will be serious buy pressure at these ranges. Until the rising wedge breaks down, this is NOT confirmed, I personally don't want to see this for the holiday season. Would much rather see Green candles, BTC sideways and ALT's flying! Monitoring closely for a short. (Hedge)
BITSTAMP:BTCUSDShort
by Villy90
2
BTC/USD ANALYSIS BY DAVID JOSH BTC/USD H4 CHART ANALYSIS The BTC/USD chart on the 4-hour timeframe suggests a potential reversal pattern amid recent volatility. After reaching a peak near $109,551, Bitcoin has faced downward pressure, testing key support levels around $92,633. This reflects a corrective move following its upward trajectory. Fundamentally , the market is influenced by macroeconomic factors such as regulatory news and institutional investment trends in cryptocurrency. Market sentiment remains cautious with traders closely monitoring global economic cues. Key Levels: Resistance: Around $104,339 Support: Critical at $92,633 Trading Strategy Traders might consider buying opportunities if the price breaks above resistance at $101,158 with strong volume. Conversely, a break below current support could signal further downside risk to the lower support level. Risk management is crucial given Bitcoin's inherent volatility. Monitoring fundamental indicators alongside technical signals can help navigate this dynamic market environment effectively.
BINANCE:BTCUSDShort
by David_Josh_Trader
1
BTC SHORT TO $94,760Finally some clarity from BTC, well worth sitting on our hands for a short period. We created a short term down trend with multiple confirmations (SMA break and rejection, LL's & LH's etc) a retracement back to the golden ratio and a rejection from a major key level has resulted in some bearish momentum for BTC and all correlated markets. We'll se how this plays out as exhaustion will play some restriction in the momentum BTC can hold although i do think the target / 61.8% retracement level will be met of $94,760 Also currently waiting on BTC to produce a new LL on the 1H time frame so lets see how that pans out. I have moved stop to $11,065 to lock in 1.5% as we've been out the market for a few days. P.S, sorry slightly late on posting this idea
COINBASE:BTCUSDShort
by h77nry
1
BTC is approaching the 99,000 resistance zone,BITSTAMP:BTCUSD BTC is approaching the 99,000 resistance zone, where selling pressure could emerge. If this level holds, the downside target remains at 86,000, which aligns with a significant support level. Keep an eye on price action and momentum indicators for confirmation before entering a position. Entry Position: - **Sell Entry:** Around 98,900–99,100 (to account for potential resistance zone fluctuations). Stop Loss: - **Stop Loss:** 99,600 (above the resistance zone to manage risk). Target: - **Take Profit:** 86,000 (key support zone). Risk-Reward Ratio: - Ensure the risk-to-reward ratio is at least 1:2 to maintain a favorable trading setup. Adjust your position size accordingly. Keep monitoring for bearish confirmation signals (e.g., rejection wicks, bearish divergence, or a breakdown of intraday support).
BITSTAMP:BTCUSDShort
by TRADE_CENTER_1
When Bears Gather: A Confluence of Warning Signs for BTCBitcoin’s current price action has led me to adopt a bearish short-term outlook, supported by several technical indicators and analysis methods. Here’s why I believe we’re at a critical turning point and entering a Wave 4 correction based on Elliott Wave Theory. Stochastic RSI: Bearish Crossover The Weekly Stochastic RSI has entered the overbought zone, and a bearish crossover has formed. Historically, this has been a reliable signal of a downside correction. I’ve highlighted previous instances where a bearish crossover in the overbought region led to significant price corrections, and we’re now seeing a similar setup. A single indicator isn’t enough to make a strong prediction, but several additional factors strengthen the bearish outlook: 1.618 Fibonacci Extension: Bitcoins price price aligns with the 1.618 Fibonacci level, often a key resistance point. Whilst it has broken support on the daily/weekly time frames it wouldn't surprise me if it retraces back to the 1.618 Fibonacci, creating a bearish candle where the 1.618 is now resistance by the close of December. Loss of Momentum: Candlestick patterns and momentum indicators all show weakening momentum, including a hanging man candle on the weekly chart. Daily and 4-Hour Stochastic RSI: Both timeframes have also turned bearish, signaling further downside. Elliott Wave Analysis: Top of Wave 3 In my previous Bitcoin analysis, I discussed how we’ve likely reached the top of Wave 3, and are now entering a Wave 4 retracement. If this is indeed Wave 4, Elliott Wave Theory suggests that 70% of corrections retrace between the 0.382 and 0.618 Fibonacci levels, which I have marked out above. Based on this range: In 2021 Wave 4 corrected 31%. If we did a similar correction this would take us down to 0.618 Fibonacci level, conveniently near $71,859.67, which also serves as close proximity to the previous all-time high. Final Thoughts As traders, we can only work with the charts and data in front of us. My current bias remains bearish, and I’ll continue monitoring key levels and confluence points to adjust my outlook as needed.
BINANCE:BTCUSDShort
by heywippa
Market Correction: Key Support Levels and Strategic OpportunitieThe market has experienced a decline over the past few days, leading to the liquidation of leveraged long positions and the introduction of new liquidity. This may represent a healthy correction within the context of the broader market trend, which remains firmly upward. As such, the optimal strategy continues to be to buy on dips. Key levels to monitor include the strong support area around 84,500, with additional support at the 73,000 level. While these support levels may not be reached, it is wise to stay alert for potential buying opportunities if the market approaches them. Take care!
COINBASE:BTCUSD
by MCFractalStudies