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Bitcoin Q2 2024 Outlook - ElaborationHello guys, today I am back with an Elaboration on my previous Q2 Outlook ↓↓↓ With halving in front of us and all the hype it brings in, I can see mostly people who think that after halving we have to go to ATHs no matter what. So I decided to bring counter points to their views with reasonings as to Why I am currently more bearish than bullish. If you are interested in Why, you should definitely keep reading. As I stated previously - " My Base Expectation for now is that this MAY(June/Q2), MAY be the worst time to become a Buyer/Bull for a prolonged period of time as we potentially already reached our TOP. That is because, as I mentioned in the Q1 Outlook: "6. - !!! New REAL Bullmarket didn't Start until Interest Rates reached their bottom rate !!! Note, this time can be different due to inflation & elevated price levels, which cause more money in rotation, but IT SHOULD NOT change base line of reverse expectations when the correct time comes -> 1. FED start cutting, 2. FED stop (is DONE) with cutting, 3. bottom Rate is found" " and to that statement, I would add today one more - 4. until FED start expanding their balance sheet/start printing money. and my position in that still has not changed - Why? Simply, nothing changed. Everything I was expecting to happen happened and Price is still doing exactly what I was expecting it to do. So no matter if there is halving or any other kind of narrative which may suggest that "if you don't jump in right now, you lose your opportunity", I will still stick with what in my opinion are real moving forces behind the markets - current economic environment and Central Banks agendas. So, this is what happend in our prior case: I believe the most important part of the whole process is the MONEY PRINTING PART (4b). Today we have not even reached the Cutting process (1) yet. Some may say, that it should be a point for bull case scenario and I would agree. As I said, we may see a price rally until Cutting starts. BUT I believe we need to pay attention as well to What happened before this process starts. If you break the chart down, you would see that the Price Topped & dropped Before Cutting started, in expectation of it happening. And that is exactly where we may be Today! I am not saying it has to happen the same as it did in our prior case, BUT I believe everyone should pay more attention to it. If you look closer at the chart, you can see that when Price starts to elevate, most of the time it takes Inflation with it. That is exactly opossum of what the is FED trying to achieve because it could bring even more pressure on the FED in their decision making. Potentially it could cause a scenario in which we have still High Interest Rates but FED is unable to print money due to High inflation. That could cause a fear of recession or recession scare which is terrible for markets price wise, but it is as well a great buying opportunity at the same time. So, until there is some significant development in the areas I mentioned, I would suggest to everyone to stay cautious! Hopefully, this elaboration was helpful for some of you in further market navigation. If YES, please consider liking or sharing this post, it would mean a lot to me. Also, if you are interested in more updates or you would like to receive more predictions with lower time frame updates daily, let me know in the comments or DM. Best Regards, Joe
INDEX:BTCUSD
by cryptocapitaltrading
Bitcoin Can Go Down by 🚨Classical Patterns🚨🚨Bitcoin started to fall again after the news of a possible War between Iran and Israel and reacted well to the 🟢 Heavy Support zone($61,100-$58,690) 🟢. 🏃‍♂️Bitcoin is currently moving near the 🔴 Resistance zone($66,100-$64,500) 🔴. 📈It also seems that Bitcoin has managed to break the lower line of the Symmetrical triangle , and at the same time, it is forming an Eve & Adam Double Top . 🔔I expect Bitcoin to continue falling again , at least to the Pitchfork line . ❗️⚠️Note⚠️❗️: If Bitcoin can go above the 🔴 Resistance zone($66,100-$64,500) 🔴, we can expect an increase in Bitcoin. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
9
Bitcoin is Ready to Attack to Support zone⚔️🏃‍♂️Bitcoin is moving near the 🔴 Resistance zone($71,350-$70,900) 🔴 and seems to have broken the Support line . 🌊According to the theory of Elliott waves , Bitcoin seems to have successfully completed the Zigzag Correction(ABC/5-3-5) . 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 📈If Bitcoin's downward momentum is high , there is a possibility of forming a classic Double Top Pattern . 🔔I expect Bitcoin to ⚔️ Attack ⚔️ the 🟢 Heavy Support zone($69,300-$67,500) 🟢 once again. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
34
🗺️Bitcoin Roadmap🗺️⏰(4_hour time frame)⏰✅Bitcoin broke the upper line of the classic Symmetrical Triangle Pattern a few hours ago. 🌊Regarding Elliott's wave theory , Bitcoin seems to have completed wave 4 with a Double Three Correction(WXY) in a symmetrical triangle. 🌊Currently, Bitcoin is completing microwave wave 3 of main wave 5 , which can complete around an All-Time High($73,777) ( or even a little higher ). 🔔I expect Bitcoin to start rising again to complete the main wave 5 after the pullback to the upper line of the symmetrical triangle and at least rise to the upper line of the Ascending Channel . ❗️⚠️Note⚠️❗️: If Bitcoin can break the 🟢Support zone($69,300-$67,800)🟢, the scenario will change and we have to wait for Bitcoin to fall further. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
13
BITCOIN My opinion on the current situationI have marked the zone between which I change my mind for the future. Until the price accepted the daily closing above 69k, I was looking for a short setup, now that the price has accepted, I already have an open long position with already taken profit and it is almost at break-even with the rest. As long as this zone shows support ,at the same time here I see the same Wyckoff view . I am of the opinion that like bitcoin, BTC.D has a similar chart where the decisive moment comes. I will show everything below. We have to understand that the ATH price was, let's say, 69k. If we manage to close one day or even a week below. This means that we are entering one of the corrections. At the same time, any long correction was good after the shake out. Because the day simply closed above and why not take the chance in your hands for a short-term trade. Studying psychology, I realized that we look at trade from different angles. Sometimes, even after half an hour, I think about why I entered at all, and I can't even remember the reason... That's why we look at it from two angles, because it can be either one or the other direction. We make analyzes in order to give ourselves a higher probability of success because, personally, I don't see trade as a gamble and if we fail, we will admit that we were wrong. You can't progress from success :) If we go by the logic that this is a wickoff and that we have determined the AR zone (automatic rally) and also that we are above the ATH, we get the certainty that the zone up to 68k can be caught as a long (wick), but only if the day before that it did not close below 69k!! ! I hope that is clear. If the day -week closes below 69k, then the distribution has happened, the prices go much lower, be aware of that On the other side, there is BTC.D which shows weakness, but as long as this zone holds, the Altcoin season will not start. Of course, don't forget that btc.d, as it shows when altcoin season, also shows when BTC.D is at its peak. Leave a like if you like this free content
by learnfromfailure
4
Bitcoin- Are new ATHs still on the horizon in the near term?Since reaching the recent all-time high (ATH) near 74k in mid-March, BITSTAMP:BTCUSD has corrected to the 61k zone support and has begun consolidating thereafter. Despite significant volatility over the past three weeks, the overall outlook remains predominantly bullish, offering reassurance to medium to long-term holders. Furthermore, upon examining the daily chart, it becomes evident that this consolidation is gradually narrowing, forming a symmetrical triangle, which typically signals continuation. Additionally, following the breach below the interim support at 68k on Tuesday, the subsequent reversal has resulted in a Morning Star candlestick formation, while yesterday's NFP report provided further evidence of bullish momentum with a Pin Bar candle. At the time of writing, the price has returned to the 68k median level, showing determination to retest the 70k mark once more. To confirm a new upward trend, bulls will require stabilization above 71k, at which point, the measured target for the triangle pattern around 80k comes into focus. My bullish stance persists as long as the price remains above the 62k zone.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
6
⚠️Bitcoin is Ready to Go Down again by Wedge Pattern⚠️🏃‍♂️ Bitcoin is moving near the 🔴 Resistance zone($69,000-$67,800) 🔴. 🌊According to Elliott's wave theory , Bitcoin seems to be completing wave 4 . 📈The Classic Ascending Broadening Wedge Pattern is also visible in the chart. 🔔I expect Bitcoin to fall to at least near the Support line after breaking the lower line of the Ascending Broadening Wedge Pattern . ❗️⚠️Note⚠️❗️: If Bitcoin can break the 🔴 Resistance zone($69,000-$67,800) 🔴, the scenario can be bullish, and Bitcoin will go to a new All-Time High(ATH). ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
5
BTCUSDT.2HLooking at this chart, I'm observing Bitcoin's price action against Tether (USDT) on the Binance exchange. We're using a combination of technical indicators and price levels to gauge potential future movements. Firstly, the chart shows a symmetrical triangle pattern forming, which indicates a period of consolidation. A symmetrical triangle is typically considered a continuation pattern, meaning that the previous trend is likely to continue once the price breaks out. However, the direction of the breakout (upward or downward) is not determined by the pattern itself but by other indicators and market sentiment. The Ichimoku Cloud is present here, which consists of several components. The cloud (Senkou Span A and B) acts as support and resistance levels. The price is currently below the cloud, suggesting a bearish sentiment. The Ichimoku Base Line (Kijun-sen) is above the Conversion Line (Tenkan-sen), which typically indicates bearish momentum. We've also got pivot point levels marked as R1, R2, R3, and S1, S2, S3. These levels are used to determine potential support and resistance levels based on previous highs, lows, and closing prices. Currently, the price is hovering just above the S1 pivot point level. If it breaks below S1, the next levels to watch would be S2 and potentially S3 for support. The Relative Strength Index (RSI) is just below 40, which is neither in the overbought nor oversold territory but is edging closer to oversold levels. This could indicate that there might be some buying pressure coming in soon, but it's not a guarantee. The Moving Average Convergence Divergence (MACD) shows the signal line above the MACD line, and the histogram is in the negative territory, which supports the bearish momentum seen in the price action and the Ichimoku Cloud indicators. In summary, the current setup is leaning more bearish, with the price below the Ichimoku Cloud and pivot point supports. The symmetrical triangle pattern suggests a breakout is imminent. If I were trading this setup, I would watch for a decisive breakout from the triangle pattern and confirm it with other indicators such as the RSI and MACD before making a trade. If the price breaks above the triangle and the cloud, that would be a bullish signal, while a break below could see further downside movement. It's important to keep an eye on the volume to confirm the breakout's strength and look out for any potential false breakouts.
by MarsSignals
🚨Bitcoin Analysis🚨✅As I shared with you in previous posts, Bitcoin attacked the 🟢 Support zone($69,000-$67,800) 🟢 two times. 🏃‍♂️Bitcoin is moving in the 🟢 Support zone($69,000-$67,800) 🟢 and near the Support line . 🔔Based on Market Cap USDT Dominance% (USDT.D%) conditions, I expect Bitcoin to rise to $70,200 at most and then attack the Support line . The Rising Wedge Pattern is still Valid . 💡Bitcoin also seems to be completing a pullback to the lower line of the symmetrical triangle . ❗️⚠️Note⚠️❗️ : If Bitcoin can break the Resistance lines , we can expect a new All-Time High(ATH) for Bitcoin. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
9
⚠️Bitcoin Can Dump By Rising Wedge Pattern⚠️🏃‍♂️Bitcoin is moving near the 🔴 Resistance zone($73,700-$71,800) 🔴. Above the 🔴 Resistance zone($73,700-$71,800) 🔴is also an important 🟡 Potential Reversal Zone(PRZ)($82,800-$73,700) 🟡. 📈From the point of view of Classic Technical Analysis , it seems that Bitcoin has succeeded in breaking the lower line of the Rising Wedge Pattern , and there is also the possibility of forming a Double Top Pattern . 📈We can also look at the Market Cap USDT Dominance% (USDT.D%) chart for a better analysis of Bitcoin. Yesterday, I analyzed USDT.D% for you. 📈 USDT.D% has succeeded in breaking the upper line of the Falling wedge, and this is good news, which confirms the breaking of the lower line of the Rising Wedge Pattern in the Bitcoin chart.👇 📈Also, the Market Cap BTC Dominance% (BTC.D%) chart will also be bearish and can help the fall of Bitcoin.👇 🔔I expect Bitcoin will Go Down at least to the 🟢 Support zone($69,000-$67,800) 🟢, and if it breaks, we can expect BTC will go down to the Support line and Fibonacci cluster. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
27
Are the BTC BULLS about to make history???BTC has been chopping sideway for the last few weeks, and its currently consolidating at its previous ATH. What does this mean for traders and investors? Well, as we take a look into the previous bull cycles, we saw some incredible gains; BTC was released in 2009 , and it's experienced a bull run in 2013, 2017, and 2021 respectively. An existing 4 year spread betweem the ATH's suggests that we could potentially see a new ATH for BTC in 2025 . The breakout of 2017's ATH is what started the 2021 bull run last cycle, where we saw a very rapid gain of close to 250%. A breakout of 2021's ATH means that we could potentailly be facing another large movement in the market. If this weeks candles closes above our previous 2021 ATH, it could be the determining factor if we will see another bullish price movement on BTC. I expect we could also run into some turblence in the 80-100k price range, when we will experience some Resistance from the existing Trend Line. We could potentialy form a local top here and see some real bearish pressure. If BTC breaks out of that trend line, and crosses over 100k, then it could go absolutely nuclear. We could potentaily see a northwards rise up to a 200k price range or more, going into 2025. If history repeats itself, a 245% gain from here would put us around the 240k mark.
OANDA:BTCUSD
by JKM_Trading
Bitcoin Halving Thesis - Cycle Top and Bottom w/ TargetsI’ve been tracking the Bitcoin Halving Cycle for many many moons, trying to analyze as many patterns as possible to give me confluence in a signal for this cycle’s top and bottom. There’s five that I will focus on in this thread: 1. Trough to Peak 2. Halving to Peak 3. Peak to Trough 4. Trough to Trough 5. Fibonacci Extension Note, I do not take the 1st Halving in 2012 into much consideration as it was a very immature market with a novel technology. There was obviously no market data prior to this Halving to base any TA on, so that’s another kicker. Technical Analysis is a self-fulfilling prophecy after-all. Evidence in this bias comes from the past two cycles being nearly identical in all of the aforementioned. The Halving Cycles I will focus on start in Jan. 2015 with the Trough to Peak being 1,068 Days. We then have a 363D Peak to Trough from Dec. 2017 to Dec. 2018. It is similarly 1,059D from Trough to Peak in Nov. 2021 (-9D difference), and 378 Days back down from the Peak to Trough (+15D difference). If we continue this Trough to Peak pattern of -9D difference adding 1,050D, that will put this Cycle Peak ~Oct. 6, 2025. The Peak to Trough pattern of +15D with 393D would put our Cycle Bottom ~Nov. 3, 2026. Now let’s look at the Halving to Peak. The last two Halving Cycles follow similar patterns again, while the first Halving does not. 2016-17 is 526D Halving to Peak, and 2020-21 is 546D, with a difference of +20D. For the upcoming 2024 Halving ~Apr 22, 566D puts this Cycle’s Peak at Nov. 9, 2025. This correlates with the Trough to Peak Oct. 6 date to give us a 1 month range. Next we’ll see the past two Halving Cycles Trough to Trough are highly correlated once again, whereas 2012 is not. 2015-18 it was 1,430D T to T. 2018-22 more closely resembles this cycle with 1,438D and a difference of 8D. Following this pattern for 2022-26, adding on 1,446D would confirm the cycle’s bottom ~Nov. 6, 2026. That’s a 3D difference that we discovered in the Peak to Trough pattern. The last thing I will cover is the Q3 2025 Price Target that I have found using the Trend-Based Fibonacci Extension. Using this Fib from the 2015 low to 2017 high gives us a 3.618 level that is almost spot on with the 2021 Cycle Peak! Using this again from the 2018 low to 2021 high, it would put the 3.618 ~240k. I’m not a fan of round numbers and would say $235k would be a bit more conservative to price the top. I’ll be following this cycle very closely to see how this plays out and will share my analysis if the market detours from my thesis. The point of this analysis is not to pick an exact date or price to sell, but to give a general range so you can be well prepared for when it happens. I’ll most likely be selling CRYPTOCAP:BTC around the $200k range or Aug. - Sept 2025, whatever comes first, just to get ahead of the market. I would rather miss out on those last gains on the way up than try to frantically exit on the way down. If you enjoyed this analysis make sure to give me a follow and turn on notifications so that you can stay up to date with it. Also Bookmark this thread so that you can come back for future reference Happy Trading! ~FIN~ JK 👑
BITSTAMP:BTCUSDLong
by jonnieking
6
Bullish Bitcoin Bounce? Key Support Levels to Watch!📈 With the current price of Bitcoin at $68,700, the marked levels can be analyzed with respect to this price: 💸 $64,081.71: This level is now acting as a support level since the price is above it. It could be a recent swing low or an area that previously had significant trading activity. If the price were to retract, this level might be where buyers could step in, maintaining the bullish momentum. 🚀 $65,731.31: Very close to the current price, this level might be an immediate support or pivot point. It could have been a resistance level that, after being breached, might now serve as support. 🔍 $60,569.41: Now below the current price, this level may have acted as a support during a recent pullback or consolidation phase. If the price retraces, this could be another area of interest for buyers. 🧲 $56,746.32: Further below, this level is positioned near the 61.8% Fibonacci retracement level of a previous move, often seen as the most crucial level by traders. Since the price is significantly above this level, it suggests that Bitcoin is currently maintaining a bullish stance. 🛡️ $53,032.31: Also below the current price and near a 61.8% Fibonacci retracement level, this area could offer substantial support if there were to be a deeper pullback. 🧐 $49,054.32: Near the 50% retracement level, it's a critical psychological and technical area. If the market were to turn bearish, this would be an important level to watch for potential stabilization. ⛓️ $44,614.32: This level is well below the current market price, positioned just above the 23.6% retracement level. It would only come into play in a significant market downturn and could represent a long-term support area. 💪 Considering the current price of $68,700, the market sentiment appears bullish, and the closest levels to watch would be $64,081.71 for immediate support and $65,731.31 for short-term retracements. The higher levels, such as $56,746.32 and $53,032.31, become relevant for more considerable pullbacks and could indicate areas to watch for potential buy opportunities. The levels well below the current price, like $49,054.32 and $44,614.32, would be relevant if the market sentiment changes drastically, signaling areas where the price could potentially stabilize
CRYPTO:BTCUSD
by Shibunacci
It's a Bird? It's a Plane? Nah, it's a Bat.This daily chart has me packing up my things and getting ready to run for the hills! If we do break down from here and start to form some sort of Bat harmonic formation then I will be asking the age old question, "How low can we go?" See my previous post below, which I think may end up reinforcing this on the weekly chart. Could I be wrong? Of course, I mean, I'm a werewolf...I spend most of my time chasing my own tail! Bark at me! Owhooooo!
COINBASE:BTCUSDShort
by Akamer-the-Werewolf
1
BTC → Bitcoin Back to $38,000? Or to $138,000? Let's Answer.Bitcoin has deviated from its historical price action tendencies and reached new all-time highs before the bitcoin halving and without touching lifetime support! Does that mean we will continue to go up? How do we trade this? 🤔 Bitcoin is clearly at a crucial moment in the market, breaking beyond the previous $69,500 all-time high and reaching just shy of $74,000. Without surprise, Bitcoin is facing some resistance in this area as the bulls take some profits and the bears lurk waiting for a solid sell candle. At this stage, we do not have a sell candle to justify a short. My previous analysis called for a 30% pullback or more between the $45,000 and $55,000 area if the proper sell candle and confirmation bars showed themselves, we never received those candles. I am still in the same mindset; be on the lookout for a major pullback, but wait for the proper sell and confirmation to short. Long scalp on the smaller timeframes, 5m or 15m until the price action no longer justifies it. I believe the more lucrative opportunity will show itself after a major pullback occurs to the $38,000 price area. This area provided great trade volume and has acted as support and resistance several times in the past few years. It's reasonable to believe this will be a solid floor for Bitcoin. The hard lifetime support floor is approximately $25,000 leading into 2025, but I think it's unlikely at this point to see such a pullback. $38,000 is the more likely support level as that should coincide with the Weekly 200EMA later this year/early next year if the price is to fall that far. We also have to consider that the price may not fall below the Weekly 30EMA or come near the Weekly 200EMA and should be looking for a buy signal at any of these support zones. For now, I would long trade the smaller timeframes and be on the lookout for the sell signal candle on the weekly chart. 💡 Trade Idea 💡 Long Entry: $42,000 🟥 Stop Loss: $25,000 ✅ Take Profit #1: $69,000 ✅ Take Profit #2: $110,000 ⚖️ Risk/Reward Ratio: 1:4 🔑 Key Takeaways 🔑 1. At previous all-time high resistance, not ideal long entry on Daily or Weekly timeframe. 2. Wait for sell signal on Daily or Weekly timeframes to enter a short. 3. Target Weekly 30EMA, 200EMA, and previous high volume area for support. 4. Long at $42,000 after a strong buy signal off of the high volume area, target 1:4 Risk/Reward and take half of the position off the table at $69,000, move stop loss up to entry and swing the latter half of the position to the $110,000 area. 5. RSI is overbought near 85.00 which supports a pullback and hesitation to long. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
INDEX:BTCUSDLong
by TraderEngineering
6
🚨Bitcoin Is Ready to Fall🚨🏃‍♂️Bitcoin is moving in 🟡 Potential Reversal Zone(PRZ)($66,120-$65,350) 🟡 and Resistance line . 🌊According to the Elliott wave theory , Bitcoin seems to be able to complete the Zigzag Correction(ABC/5-3-5) in PRZs (🟡 Potential Reversal Zone(PRZ) ($66,120-$65,350)🟡 has more chances). 💡Another sign that we can point to Bitcoin correction is the formation of the Head and Shoulders Pattern . 🔔I expect Bitcoin to fall at least to my Pitchfork lines on the chart. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
59
BTCUSDT.2HThis Bitcoin (BTC) chart against the US Dollar (Tether, USDT) on the 2-hour time frame provides a rich set of data for a technical analysis perspective: Ichimoku Cloud: Price is currently below the Ichimoku Cloud, which typically suggests a bearish trend. The cloud acts as a dynamic resistance area. Resistance Levels (R1, R2, R3): The chart shows multiple resistance levels. The closest one, R1, is significantly above the current price, indicating that there might be a strong move required for the price to reach these levels again. Support Levels (S1, S2): There are also two support levels identified. S1 is a short distance below the current price, indicating a potential area where the price might find support if it continues to decline. RSI (Relative Strength Index): The RSI is hovering around 45, which is somewhat neutral. It indicates there's neither a strong buying nor selling pressure currently driving the market. MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, and the histogram bars are red and growing, which points to increasing bearish momentum. Volume: The bars below the price chart depict trading volume, and a mix of red and green suggests a battle between buyers and sellers with no clear winner at the moment. Conclusion: The market sentiment for BTC/USDT, based on this chart, seems to be leaning toward the bearish side, as indicated by the price being below the Ichimoku Cloud and the MACD showing a bearish crossover. The RSI's neutral stance suggests that there could be potential for either direction, but current indicators lean more towards a bearish trend. If considering trading based on this chart, it might be prudent to watch for potential bounces off the support levels for buying opportunities or breaks below support as a signal for potential short positions. The resistance levels serve as targets for any bullish reversals or as potential exit points for short positions. However, a trader should use additional confirmation from other indicators, news, or market sentiments before making any trading decisions. Always remember to set appropriate risk management measures like stop losses, especially in the volatile cryptocurrency market.
by MarsSignals
2
Bitcoin Increase in the Coming Hours🧐🏃‍♂️Bitcoin is moving near the 🟡 Potential Reversal Zone(PRZ)($63,000-$61,800) 🟡,the lower line of the descending channel and 🟡 Time Reversal Zone(TRZ) 🟡. 🔔I expect Bitcoin to temporarily rise to at least the upper line of the descending channel and then the 🔴 Resistance zone($70,600-$68,400) 🔴. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
46
Bitcoin - On the way to 200,000?To what level can Bitcoin rise? There is an analyst that I respect a lot, from Standard Chartered, who has considered the most likely target for Bitcoin's rise, the price of 200,000. I am more of a chart person, and we are going to go level by level, seeing the evolution of the price on the chart. Financial advisors who have recommended their clients invest in cash Bitcoin ETFs have advised them to allocate 3.5% of their financial assets. It strikes me that the group of financial advisors who have made this investment recommendation to their clients is a small group. Institutions have not yet entered Bitcoin spot ETFs in large volume, because they have not had time to decide, and they will most likely do so now once a correction has begun. So there is money waiting to flow into spot Bitcoin ETFs. In such a way, that analyst's forecast can be fulfilled. Now, I prefer to look at the chart. What are we seeing in the short term? The day before yesterday, there was less money coming into the spot Bitcoin ETFs, and yesterday we had net outflows by funds from the spot Bitcoin ETFs. What does this reveal? It reveals that the bubble of optimism of people who believed that there were not going to be enough bitcoins for everyone is being punctured. We see that desire to buy Bitcoin has been reduced. And what do we see on the chart? The medium and long-term trend continues to be bullish, and what we are witnessing is a correction. It is an orderly, logical and normal correction. There is a bearish channel, and I have established first resistance at the 68.123 zone. In the short term, we are going to consider as the most likely scenario that Bitcoin continues to fall to that support zone that is around 61.000 And when it reaches that zone, or when we see some type of exhaustion pattern, we will think about whether it has made a bottom and can deploy another leg upwards. Guys, what do you think? Leave a comment with your thoughts.
BITSTAMP:BTCUSDLong
by tradingconmike
4
Should Bitcoin Bulls Be Concerned?In my previous analysis of BITSTAMP:BTCUSD , I expressed my expectation for Bitcoin to reach a new all-time high, which indeed occurred as the price broke above 70k and sustained that level for several days. However, following a brief test around 74k, the price began to decline and fell back below 70k. Now, a crucial question emerges: Is this a change in the bullish trend? In my view, it is not. Even though the current price of BTC sits at 65k, I interpret this as a normal correction rather than a reversal of the trend. Technically, the situation appears clear and uncomplicated: the trend remains strongly bullish. Even if the price were to drop to the 60-61k zone, I believe there should be no cause for concern, rather a good opportunity to buy. This zone represents a convergence of factors: the trendline, a horizontal level established after the initial ATH, and a psychological level. In conclusion, what we are witnessing is a typical correction. Even a drop to 60k, constituting a 20% decrease, should not unsettle anyone, given the robust bullish trajectory observed since November 2023. Best of luck! Mihai Iacob
BITSTAMP:BTCUSDLong
by Mihai_Iacob
18