fibs tell the storythe fibs have aligned we are ready to ascend to the moon Longby jabailey8053Published 116
BTC New ATH by Nov18 2024?BTC likes to stick to cycles. We do need to remember that the cycles so far, while consistent, are still only a small sample size. 217 days from previous all time high has been the previous cycle key point to break ATH. Technically BTC has already made a new ATH, but the level was unsustained. Lets see if the cycle plays true and we get new ATH by November 18. Longby Adroit_OwlPublished 2211
Breaking Down Winning Trades on USOIL and UKOILBreaking Down Winning Trades on USOIL and UKOIL: A Renko and Double Bottom Analysis Today, we delve into a powerful trading strategy that combines the Renko charting technique with the classic double bottom pattern, specifically focusing on trades executed on USOIL and UKOIL. By understanding these concepts, you can refine your trading approach and potentially enhance your profitability in the oil market. Understanding the Basics: Renko Charts Renko charts are unique in that they focus solely on price movement rather than time. This allows traders to filter out market noise, making it easier to identify significant price trends and patterns. In our analysis today, we utilized Renko charts to visualize price movements for both USOIL and UKOIL, helping us identify critical entry and exit points. Key Features of Renko Charts: Price Focused: Renko blocks are created only when the price moves a predetermined amount, meaning fluctuations within that range do not affect the chart. Trend Clarity: By eliminating time-based noise, Renko charts offer a clearer picture of market trends, making it easier to spot potential reversals and continuations. Identifying the Double Bottom Pattern The double bottom is a bullish reversal pattern that typically signifies a potential trend change from bearish to bullish. It forms when the price creates two distinct lows at approximately the same level, separated by a peak. Traders often view this pattern as a strong indication to enter long positions. Characteristics of a Double Bottom: Formation: Two consecutive troughs at similar price levels, indicating support. Confirmation: A breakout above the peak between the two lows serves as confirmation of the pattern. Today’s Winning Trades on USOIL and UKOIL Trade Breakdown for USOIL Analysis Setup: Using Renko charts, we identified a significant double bottom pattern on the USOIL chart. The first bottom formed at approximately $72.00, followed by a peak around $74.00, and then the second bottom retraced back to $72.00. Entry Point: We entered a long position at $73.596 upon the breakout above the $74.00 level, signaling a bullish reversal. Trade Outcome: The price surged to around $75.75, providing a solid profit margin. The clarity of the Renko chart allowed us to set our stop-loss orders below the second bottom, minimizing risk while maximizing potential reward. Trade Breakdown for UKOIL Analysis Setup: Similarly, Renko charts revealed a double bottom formation in UKOIL, with the first low around $77.00 and the second low also near $77.00, separated by a peak at $78.50. Entry Point: We confirmed the pattern when the price broke above $78.48, signaling another opportunity to go long. Trade Outcome: This trade yielded excellent results as UKOIL climbed to approximately $79.25, providing a favorable risk-to-reward ratio. The strategic use of Renko charts aided in managing the trade effectively. Today’s successful trades on USOIL and UKOIL exemplify the effectiveness of combining Renko charts with double bottom patterns for technical analysis. By focusing on price movement and clear patterns, traders can make informed decisions and enhance their trading strategies. Key Takeaways: Utilize Renko charts to filter out noise and identify trends effectively. Recognize double bottom patterns as powerful reversal signals. Always confirm patterns with breakouts to increase the likelihood of successful tradesLong06:09by TLTurnerTVUpdated 3
BTCUSD: October is the countdown to the Cycle's Top.Bitcoin is having a strong pullback today, turning the 1D technical outlook bearish (RSI = 40.457, MACD = -31.100, ADX = 28.196). This is no cause for concern as long as the 1W MA50 holds. In addition, every October after a Halving event has been the start of the Cycle rally and interestingly enough the top has always been formed 13-14 months after! This indicates that we still have more than a year of bullish trend ahead of us with the top projected inside November - December 2025. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##Longby InvestingScopePublished 10
Bitcoin ($BTC) to Dip Below $60K Amid Hotter US CPI DataBitcoin’s price could soon slip below the $60,000 mark following the latest U.S. Consumer Price Index (CPI) data, which showed inflation at 2.4% for September, slightly higher than market expectations of 2.3%. The hotter-than-anticipated inflation report has sparked concerns among investors, weighing on the broader crypto market and pushing Bitcoin ( CRYPTOCAP:BTC ) into a bearish outlook. Combined with growing macroeconomic uncertainties, including Federal Reserve rate decisions and geopolitical tensions, Bitcoin could face further downside pressure. Impact of US CPI Data The latest inflation data revealed that the US CPI held steady at 0.2% on a monthly basis, while annual inflation cooled to 2.4%, down from the 2.5% recorded in August. Despite this cooling, the figure surpassed market expectations, triggering concern among investors who now anticipate a more hawkish stance from the Federal Reserve. With inflation running higher than anticipated, fears of tighter monetary policy have intensified, particularly as the Fed is widely expected to implement a smaller 25 basis point (bps) rate cut in November, down from an earlier prediction of 50 bps. These developments are contributing to widespread risk aversion in the market, with investors turning cautious ahead of the Fed’s next move. A more restrictive monetary policy could reduce liquidity in the market, further pressuring risk assets like Bitcoin. Adding to this, the release of gloomy U.S. job data and the rising US 10-year bond yield, which hit 4.073%, have intensified negative sentiment. The crypto market has not been immune, with Bitcoin down 1.3% following the CPI data release. BTC briefly crossed below the $61K mark, touching a low of $60,314, and is currently trading at $60,449 as of this writing. Macro Factors at Play: Global Concerns Weigh on Sentiment Bitcoin’s downward trajectory is not just a result of inflationary pressures but also a broader set of macroeconomic uncertainties that continue to weigh on sentiment. Several key factors are contributing to this cautious outlook: 1. Geopolitical Tensions: Ongoing tensions in the Middle East are creating volatility in global financial markets, which in turn is impacting the crypto market. Any escalation could lead to further risk aversion, potentially dragging Bitcoin lower. 2. US Presidential Election: With the upcoming 2024 presidential election in the United States between Kamala Harris and Donald Trump, markets are bracing for increased political volatility. The uncertainty surrounding the election outcome could add another layer of risk for investors, keeping Bitcoin under pressure. 3. Federal Reserve’s Stance: As inflationary concerns remain, the market is now pricing in an 84% probability of a 25 bps rate cut by the Fed in November. Any hawkish surprises from the Fed could exacerbate the already fragile market sentiment, potentially leading to further selloffs in Bitcoin. Technical Outlook On the technical front, Bitcoin ( CRYPTOCAP:BTC ) is showing signs of weakness following the CPI data release. The daily chart reveals that Bitcoin is trading within a falling wedge pattern, a bearish formation that could signal further downside unless there is a breakout to the upside. Key Technical Indicators: The Relative Strength Index (RSI) is currently in an anomalous zone, indicating that Bitcoin ( CRYPTOCAP:BTC ) may not yet be oversold, but downward pressure is mounting. Bitcoin is trading within a falling wedge, which often indicates further downside unless there is a strong breakout. A break below $60,000 could send Bitcoin ( CRYPTOCAP:BTC ) towards the ceiling of the trendline at $50,000 which will be very bad for $BTC. Immediate support lies at the $60,000 psychological level. If broken, the next key support level is the $50,000 mark, which coincides with the lower trendline of the falling wedge. On the upside, Bitcoin ( CRYPTOCAP:BTC ) would need to clear resistance around the $61,500 mark to attempt a reversal. If negative news continues to dominate the macro landscape, such as additional inflationary pressures, escalating geopolitical tensions, or unexpected hawkish moves from the Fed, Bitcoin ( CRYPTOCAP:BTC ) could see a sharper decline, possibly dipping toward the $50,000 level. On the flip side, favorable developments like easing inflation, de-escalation in global conflicts, or a more dovish stance from the Fed could provide Bitcoin ( CRYPTOCAP:BTC ) with the momentum needed to break out of the falling wedge and move higher. If Bitcoin manages to clear $61,500, it could attempt a surge back toward the $65,000 resistance level.Longby DEXWireNewsPublished 3
Bitcoin Weekly MACD Cross: Bullish Momentum BuildingBTCUSDT technical analysis update. In the weekly Bitcoin chart above, we can see that the price has been consolidating after a strong bullish rally. The key point to note here is the potential MACD crossover, which could signify a shift in momentum. The blue MACD line is approaching the red signal line from below, indicating that a bullish crossover might be imminent. This could suggest that the bearish phase is weakening and that Bitcoin is preparing for an upward move. The histogram has been decreasing in negative territory, which typically points to diminishing bearish momentum. A shift to positive values could confirm a trend reversal. The price is currently trading near key resistance levels, and if the MACD crossover happens, we could expect Bitcoin to break through these resistance zones, possibly leading to a significant upward move. Wee should closely monitor the MACD for confirmation of the crossover on the weekly chart, as this signal has historically been a strong indicator for trend reversals in Bitcoin. If the crossover happens, it could lead to a sustained bullish move. Regards HexaLongby HexaTradesPublished 3
KnallerScientific Approved Approach Accelerating to the path of least resistance once again. It is what it is. Not sorry at all.00:08by Hhan44Published 552
Distribution pump , back to 66-68kThis drop consist of 2 major event that caught some whales offguard , 1_ Crash in japanese stock after election ( New prime minister wants more rate cut ) 2_ Surprising Iran missile attack on Israel What happens next is obvious in my opinion since whales are in a big loss which cause by events outside of their control ,they will accumulate heaviliy and pump it back up to sell and get out of their losses . Next target can be as high as 68k but the minimum expected pump is 63k . Dont get in their way , they will crush short sellers soon . Also from TA point of view , It's in a very oversold area we have 5 red days in a row, this usually is a reversal sign and many algorithms and traders will start buying heavilly Longby uchar1Updated 2214
BTCUSD downside target 56000On the daily chart, BTCUSD encountered resistance and fell back after rebounding to 0.618 ratio in the previous band, and the short-term bears have the upper hand. At present, we can pay attention to the resistance near 63500. If the rebound encounters resistance, we can consider shorting. Pay attention to the support near 60000 below. After breaking through, it will go to the support near 58000.Shortby XTrendSpeedPublished 4
BTCUSD october bulls price swept sell side liquidity and previous day low, price displaced and formed a 4H Breaker block...so I'm waiting for a retest to he zone before I offset my long positionsLongby tejiriagbatutu14Published 8
BTC Cycles & TA: 10/7/24More updates on the projected drop going into the next 24-48 hours.... Charts are warning that something is coming in the next 24-48 hours and also found a few more patterns in the charts. 24:28by MajorcyclesPublished 3
Btc/usd LongHello everyone, Btc is so long, Because the technical shows this, enjoy that.Longby shilarezaeiPublished 2
Bitcoin Down Trend: Time to sell? My proprietary indicator predicted the last two bitcoin crashes and is history repeating? It appears likely so. Both previous Bitcoin crashes were preceding by the price of Bitcoin closing below support. Each time price went back up and channeled without making a new high and then crash back down. This chart shows the last two crashes and the info on the chart reveals exactly when price action indicated the statistically probability of a coming crash. And yes, history is repeating as the same price action happened again on Bitcoin. Time to get out in my opinion. Shortby DFauvrePublished 113
BTC to find new highs - Final Wave 3 Largest ImpulseNearly half a year after BTC's Halving we have completed consolidation and are ready to go. Currently have 6 different TA styles confirming this, some below: - Monthly BOS , Cup and Handle - Bull Flag Handle -Weekly ABC completion and VWAP, NWOG retest washout complete - Weekly Momentum, RSI, and MACD upside shift -Daily Inverse H & S , MACD divergence on all hours 10+ - 4 HR duel ABC correction leading to transition to Wave 3 Expect the most growth from solid innovative alts falling in top 50 market cap with a focus on data, interopability, & AI/Computing. TOTAL3 will more than double in size and we wiill see all time lows on BTC dominance.Longby richgraphPublished 2
Bitcoin Situation - BullishYesterdays fake breakdown is the final sign before a real bullish run in our view. Bitcoin seemed to break below our 60k zone support before springing right back above and closing within the zone, after the close we looked for 4h continuation which we got and entered at the average shown. If you're out of the market and want to enter we'd recommend a dca approach on the lower timeframes down the fib retracement levels. We expect a small pullback from here before continuing up, even if it's just to 62ish. This is an opportunity that doesn't come very often in our view and could well be the start to ATH. The stoploss is set and should we break below we would look to the next support at 57.5k and then the 886 pcz of a bullish bat at 54k, but really we are not looking to break below the current support. Longby SynergyTradingSetupsPublished 1
BRIEFING Week #40: Money Starts to MoveHere's your weekly update ! Brought to you each weekend with years of track-record history.. Don't forget to hit the like/follow button if you feel like this post deserves it ;) That's the best way to support me and help pushing this content to other users. Kindly, Phil16:52by PRO_IndicatorsPublished 7
BITCOIN SMALL CORRECTION TO GOING UPThis week, Bitcoin (BTC) reached a peak of $64,000 before slipping below $62,000, sparking speculation about its potential for further gains. Based on Wyckoff patterns, Bitcoin currently sits at a "critical psychological turning point," where market sentiment could drive its direction. Historically, investors tend to be pessimistic when facing losses but turn optimistic when their holdings are profitable. Keeping Bitcoin within the "zone of optimism" is crucial, and metrics like "Supply in Profit" indicate that investor confidence grows when a significant portion of Bitcoin’s supply is in profit. However, external factors may impact this optimistic outlook. The U.S. government is reportedly planning to sell 69,370 BTC, worth about $4.3 billion, seized from Silk Road. A sale of this magnitude could trigger a bearish trend, as seen with Germany’s BTC sales earlier this year. Stockbroker Peter Schiff even suggested that Michael Saylor of MicroStrategy step in to purchase the seized BTC to stabilize the price. As a result, Bitcoin’s future remains uncertain, balanced between bullish hopes and potential sell-offs that could drive a market downturn.Longby herrylistonhutapeaUpdated 3
btc buy side liquiditylets see next week profile ..........................................Longby LethalityTraderPublished 2
BTC - Wyckoff Reaccumulation Cycle stages **The Wyckoff Reaccumulation Cycle Within an Uptrend: A Comprehensive Guide** The Wyckoff Method is a technical analysis framework developed by Richard D. Wyckoff in the early 20th century. This approach helps traders and investors identify market patterns and trends, providing valuable insights for buying and selling decisions. One essential component of the Wyckoff Method is the reaccumulation cycle, which occurs within an uptrend. In this article, we'll explore the stages of the Wyckoff reaccumulation cycle within an uptrend, providing a comprehensive guide for traders and investors. Preliminary Support The reaccumulation cycle within an uptrend begins with preliminary support. This phase marks the consolidation of the uptrend, as prices bounce off a support level. Preliminary support indicates that buying interest is present and that the market is stabilizing. During this phase, traders and investors should look for signs of accumulation, such as increasing demand and decreasing supply. Buying Climax After preliminary support, the buying climax phase occurs. This phase is characterized by a sharp increase in prices, often accompanied by high trading volume. The buying climax is a sign of strong buying demand and marks the beginning of the reaccumulation cycle within the uptrend. Automatic Rally Following the buying climax, the automatic rally phase begins. Prices continue to rise, but at a slower pace than the initial uptrend. This automatic rally is a natural response to the buying pressure and provides an opportunity for traders and investors to buy or add to their positions at lower prices. Secondary Test In the secondary test phase, prices reach the high but then experience a minor decline. This decline tests the preliminary support level, providing an opportunity for traders and investors to assess the market's strength and identify potential buying opportunities. Sign of Weakness After the secondary test, the sign of weakness phase occurs. Prices decline further, indicating that selling pressure is increasing. This sign of weakness can be a warning that the uptrend is losing momentum, and traders and investors should be cautious. Up Thrust Following the sign of weakness, the up thrust phase begins. Prices experience another sharp increase, often accompanied by high trading volume. This up thrust is a bullish signal, indicating that buying demand is strong and that the market is regaining its upward momentum. Up Thrust After Distribution In the up thrust after distribution phase, prices continue to rise but then experience a minor decline, testing the preliminary support level again. This up thrust after distribution is a sign of strength and potential for further advance. Test After the up thrust after distribution, the test phase occurs. Prices decline further, testing the preliminary support level once more. This test is a normal part of the reaccumulation cycle and provides an opportunity for traders and investors to assess the market's strength. Spring Following the test, the spring phase begins. Prices experience a sharp increase, often accompanied by high trading volume. This spring is a bullish signal, indicating that buying demand is strong and that the uptrend is regaining its momentum. Test Again In the test again phase, prices decline again, testing the preliminary support level for the third time. This test again is a normal part of the reaccumulation cycle and provides a final opportunity for traders and investors to assess the market's strength. Jump Across Creek After the test again phase, the jump across creek phase occurs. Prices experience a sharp increase, breaking through the previous high and confirming the new primary advance. This jump across creek signals the end of the reaccumulation cycle and the beginning of a new phase in the uptrend. Last Point of Support The last point of support phase marks the final support level before the new primary advance. Prices may test this level one more time before moving higher, providing a final opportunity for traders and investors to buy or add to their positions. Conclusion The Wyckoff reaccumulation cycle within an uptrend is a natural part of the market's evolution. Understanding these stages can help traders and investors identify potential buying and selling opportunities, manage risk more effectively, and make informed trading and investment decisions. As always, it's essential to use this information in conjunction with other indicators and market analysis to achieve success.by TraderE9Updated 114
BTC - Weekly Bull Market ConfirmationWe just had a massive signal flash on the weekly. The 21 MA on the weekly that historically acts as a major resistance/support line was just held by this weekly candle. We also formed a doji which could signal a reversal back to the upside is likely. Looking back at this post from the future, I predict this will be a key pivotal point in the trend where the next leg of the bull market began. Will keep this post updated as the week progresses. by VIAQUANTPublished 2
btcusdbitcoin targets could be down or up keep it simple guys dont break ur backby Code-breadPublished 2
BTCUSD TRADE SETUPPAIR : BTCUSD ✔ Classic BULLISH formation BTCUSD is holding continuous UP Trend so after market retracement I can take BUY entry . If your analysis matches it take a trade otherwise skip the trade. "💖 Show your love by liking & leaving a comment! Your support means the world to us! 💖" Shortby Forex_bank_LiquidityPublished 1
Elliott Wave Analysis with Fibonacci Extensions - Potential BullIn this chart, we observe a clear Elliott Wave structure with five impulsive waves, indicating a potential bullish continuation. The Fibonacci extensions are plotted, highlighting possible Take Profit (TP) levels based on the wave projections. Wave 1 to 5 completed, with Wave 5 potentially leading to significant price growth. The Fibonacci retracement levels show key support areas, while the Fibonacci extensions suggest potential upside targets. Key Targets: TP0: MAX 81,738.0 (168% - 200% Fibonacci) TP1: MAX 98,157.0 (261% - 300% Fibonacci) TP2: MAX 114,576.0 (361% - 400% Fibonacci) TP3: MAX 130,995.0 (461% - 500% Fibonacci) The current price action is in consolidation, suggesting a breakout may occur soon. A strong move past TP0 could accelerate the upward momentum towards the higher TP levels. Keep an eye on support levels around 63,068.0 and potential correction zones before a breakout occurs. Disclaimer: This is just my personal view based on technical analysis, and it is not financial advice. Please conduct your own research and trade responsibly!Longby CryptoTracesPublished 3