Two scenarios for $BTCThe price could not touch its previous high and also broke the trendline
Considering the stronger downward momentum, I consider scenario 2 more reliable
BTCUSDC.P trade ideas
Bitcoin on Brink of Breakout: Bulls Eye $68,700 as Support HoldsBitcoin (BTC) is currently finding support at $64,500 on the 4-hour time frame. The price is facing resistance at $66,100, and a breakout above this level could lead to a further rise towards $67,400.
If the market shows strength, this breakout could reach a target price of $68,700. Bitcoin's recent price action suggests a potential bullish continuation and a break above $66,300 would be a positive sign for the bulls.
However, it is important to note that the cryptocurrency market remains volatile, and unexpected events could cause the price to reverse course. Traders should carefully manage their risk and consider using stop-loss orders to protect their capital.
BTC/USDT 4HInterval Chart ReviewHello everyone, let's take a look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price came out of the local upward trend line.
Let's start by determining the support line and as you can see, the first support in the near future is $64,988, when the price comes out the bottom, the next one is at $63,198 and then at $60,780. Looking further, we can see two important support zones from $59,393 to $57,736 and the other from $55,543 to $53,976.
Looking the other way, you can see resistance at the level of $68,928 and another one at $71,390, then the resistance zone from $73,225 to $75,642 is important, where the recently formed price peak is located, only when the price leaves it the top can move towards the resistance at level of $82,402.
Looking at the RSI indicator, you can see the moment of breaking from the support line, while the STOCH indicator can be seen falling below the lower limit, which confirms the current decline.
Bitcoin Finds Support After Rejection at $71,200In a recent price movement, Bitcoin encountered resistance at $71,200 on a 4-hour chart timeframe. This rejection indicates that there were more sellers than buyers at that price point, preventing Bitcoin from breaking through.
However, there's some positive news for bulls. The world's leading cryptocurrency appears to have found support at $65,200 . This suggests that buyers emerged at this level, preventing a steeper decline. Analysts are now expecting Bitcoin to potentially touch $68,755 in the near future. It's important to note that this is just a prediction, and the market could move in either direction.
It will be interesting to see if Bitcoin can build on this support and make another attempt to break through the $71,200 resistance level. If successful, this could signal a continuation of the uptrend. Conversely, a drop below $65,200 could indicate further weakness in the short term.
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Think BTC can't go higher? NVDA move from Oct '22 lows overlaidA lot of people want to call tops on powerful moves. Bitcoin is approaching ATHs and up significantly over the last year. Yet NVDA, a stock with a market cap twice the size of BTC has already moved much more in the same time period.
BITCOIN is creating a potential Cup & Handle formation.BTC is currently, potentially creating a smaller Cup & Handle formation. (In white) And, a potentially larger Cup & Handle formation. (In Blue)
Bitcoin has been on an absolute tear the past few days, and these formations could come into play down the road if price action continues to fill them out. Whether it will be the smaller (White) Cup & Handle, the larger (Blue), or a Cup & Handle pattern at all remains to be seen, but will become clearer in the coming weeks/months.
These formations are speculation at this point, but I just wanted to point out the potential for each to occur down the road if the current trend continues.
Good luck, and always use a stop loss.
Price did push through the 50% and violated the inducement oder
Price did push through the 50% and violated the inducement oder block and now I'm expecting it to drop from this supply zone. Low time frames change of character and retracment is what to wait for,for a confirmation for short orders.
Bitcoin Inverse Head & ShouldersTraditionally bitcoin has a hot month in February, so I think this "Inverse Head & Shoulders" pattern could possibly play out with confluence at $50,780 as a topping target around 2oth February 2024.
Bulkowski's Inverse Head & Shoulder:-
thepatternsite.com
BTC b-c Elliot Waves, Wickoff, Fib (Prepare Limit orders)It is always hard to tell what the future is bringing but if we follow few theories we can find this;
1- Elliot Waves are saying we have completed wave 5. It means A-B-C should start. Hence we should be able to make good entries at 36 and 32k.
2- We can cross with theory with Wickoff Distribution theory were we can find the BC and UT, UTH is not required but it could happen. In any case most likely this is again telling us that Wave b and c might happen
3- If we study the passed BTC cycles there is always a retracement before and after the halving, what it confirms Elliot and Wickoff.
4- Both Fibonacci retracement and extension are matching the same levels in this occasion 36k (23.60%) and 32k (38.20%).
I hope this helps to see where we are at the moment.
The retracement already happened so it wight take a while but having said that I found something interesting;
Many indicators are giving bullish signals BUT, we can find bit RED candles on the;
13/11 then
11/12, then
10/01, and then also 22/01…,
Almost every 10th of the month.
Will the same happen between the 10-13/02 or we will have to wait until 10-13/03?
Prepare your limit orders so you do not miss your good entries
Have a happy trading
Rafa
BTC/USDC Short-TermHello everyone, let's take a look at the BTC to USDT chart on a one hour time frame. As you can see, the price has dropped significantly and remains below the downtrend line.
After unfolding the trend based fib extension grid, you can see support at $40,602, and then strong support at $39,217.
Looking the other way, we have resistance at $41,476, the second at $41,936, and the third strong resistance at $42,664.
The RSI shows room for the price to go lower, while the STOCH indicator is approaching the lower limit, which stopped the price decline.
Bitcoin Big W?For this "Big W" pattern to be valid we have to assume the swing high, swing low pivot levels are valid in the context of Bulkowski's formula?
Bulkowski's Big W Pattern :-
thepatternsite.com
Will there be a correction, or is the growth not over yet?Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information there.✅
I decided to take a small short position on BTC by 20% of the deposit.
Technical: The price received a good rebound from the countertrend line, and there are thoughts that we may see a transition from this rebound. Therefore, I will act with a grid of orders with a higher order.
Deal plan:
▪️Entrance - $44,230/44,555/44,950
▪️Stop - $46,520
▪️Take - I will update.
I enter with the first order for 10% of the deposit, leaving 10% for additional additions. A slight correction has already begun on the ETH chart - perhaps this will be the direction vector for BTC. P.S: I could be wrong)
Bitcoin Pennant TiltIts seems my previous post may have been premature but this possibility is still on the cards given the bullish trending nature!
Bulkowski Pennant @ Tilt :-
thepatternsite.com
Is Bitcoin Ready to Rise in December?Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information there.✅
Let's welcome the month of December green?
I’m trying to get a scalp-long with a small gain below 10% of the deposit
Deal plan:
▪️Entrance - $37,510/37,050
▪️Stop - $36,500
▪️Take - I will update.
Guys, on one of the exchanges there is now strong pressure towards 37,000-36.***$, perhaps they will send us there, so I’ll leave one limit for adding positions. With stop averaging you get -2% without leverage, calculate the risks in advance.
Bitcoin Head & Shoulders?As the pattern is still forming I cannot affirm categorically that it will play out but on probabilities there is a good chance to test recent strong lows?
Bitcoin when will there be a correction???Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information there.✅
Bitcoin continues to consolidate above $35,000 yesterday's descent into the $34,500 zone and the quick buyback was a simple withdrawal of liquidity. I think that the next descent, if it happens, will be at the breakdown of the lower border of the wedge, because the buyer was given the $34,500 zone almost without a fight, but everything will happen soon)
For now, the previous scenario with a short position, the current stop from $35,000 at 1000-1250 points will not be too high, try it friends. Euphoria is already coming to an end...
Bitcoin Big WAs we have broken the confirmation line I feel it is necessary to post this chart right now, I hope you have already noticed the potential pattern!
Bulkowski's Big W :-
thepatternsite.com
Big W, up breakout B + ((H - L) * 74%)
Where B = D, H = A & L = B
Bitcoin local correction is coming!Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information there.✅
I’m trying a scalp short with a little extra.
Bitcoin price continues to consolidate near the $34,800-$35,000 range and it looks like we will be in this zone all weekend. I decided to take the position in advance, because... I think that a local correction is already close. The indicator is slowly starting to collect information into shorts on local timeframes.
Transaction plan:
Entrance – $34,800/35,250
Stop – $36,250
Take – I will update.
Friends, the most important thing is to keep an eye on your risk management and money management. In this trade you can take from 10% to 20% of the deposit with a leverage of 3-5X. Be careful!
Bitcoin Bullish PennantI believe this pattern to be in play a "Bullish Continuation Pennant" with targets accordingly as set out on my chart!
Bitcoin Running Triangle Elliott WaveThis is the way I see it playing out but with triangles there is always the element of surprise!
Bulkowski's "Running Triangle Elliott Wave" :-
thepatternsite.com
Bitcoin Double BottomAs you can see from the chart the "Double Bottom" target was reached and breached!
Bulkowski Adam & Adam Double Bottom :-
thepatternsite.com
Bitcoin is drawing a bearish pattern! What will happen next?Hello trader! Today I have a new idea for you. Like and subscribe to the channel, there is a lot of useful information there.✅
Friends, another BTC chart only with the “Rising Wedge” pattern, it may not look so sexy, but there are clearly boundaries here and it can work out for a correction.
No, don’t think that now if I’m holding shorts, then I’m providing you with options that suit only me, no, that’s not true at all. Look at yesterday's BTC chart in my forecast, there I threw a chart with bullish signs and by the way they worked out well :)
Guys, the arrows on the chart are just my sketches, don’t take them to heart, because the price could go in a completely different scenario)
