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Bitcoinlong

technical analysis and trading plan for Bitcoin (BTC/USDT)Technical analysis and trading plan for Bitcoin (BTC/USDT) by Blaž Fabjan Bullish Pennant Formation: The chart shows a bullish pennant pattern, which typically indicates a continuation of the prior upward trend. This suggests that once the consolidation within the pennant breaks to the upside, there could be a further rally. Support and Resistance Levels: Support Level: Around $61,758.48, which is holding the price within the consolidation. Resistance Level: The next significant resistance is around $64,591.15. If the price breaks the resistance of the pennant, it could target higher levels, potentially leading toward $68,556.87 as a bullish target. Volume: There’s a moderate amount of volume, but a volume breakout would be needed to confirm the movement in either direction. Indicators: VMC Cipher B Divergences is showing some green dots indicating bullish divergence, which further supports the potential for an upward breakout. RSI (Relative Strength Index): The RSI value is around 53.94, suggesting that the market is in a neutral zone. It's neither overbought nor oversold, giving room for movement in either direction. Stochastic Oscillator: Around 36.45, slightly on the lower end, signaling that Bitcoin might be in an oversold position on the short-term, indicating a potential upward reversal. Trendline Projection: The image also indicates an upward price projection beyond $67,000 if the pennant breaks to the upside, aligning with the bullish sentiment. Trading Plan: Buy Scenario (Bullish Breakout): Entry Point: Consider entering a long position if Bitcoin breaks above the upper trendline of the pennant and surpasses the $64,000 resistance level with strong volume confirmation. Take Profit Levels: First target: $64,591.15 (immediate resistance). Second target: $68,000. Final target: $68,556.87 (upper resistance). Stop Loss: Place a stop loss just below the $61,758.48 support level or just below the lower trendline of the pennant. Sell Scenario (Bearish Breakdown): Entry Point: If Bitcoin breaks below the lower trendline of the pennant and the $61,758.48 support level, it might indicate a bearish reversal. Consider entering a short position. Take Profit Levels: Look for a price drop toward $60,301.68 or lower. Stop Loss: Place a stop loss just above the pennant resistance level around $63,000 to limit risk. Conservative Strategy: Wait for a clear breakout from the pennant either way before entering any trade. Watch for confirmation through volume increase, as this would validate the direction of the breakout. Final Notes: The chart leans toward a bullish continuation, but confirmation from volume and a breakout from the pennant are key before making any trades. Always manage risk carefully by setting stop losses and taking partial profits along the way. I hope this information assists you in making more informed decisions during your trading activities. Enjoy! Blaž Fabjan
Long
by elfabiiani
BTC Short Term Long Trade Idea [Playing with profits]Trying a long trade here with BTC. I think it is forming a base here based on previous high, and might bounce from here. This is a risky trade which is why Stop-Loss is very tight and aiming for a Risk-Reward of at least 1:3 Entry Price: 63814.4 SL: 63663 TP1: 63997.40 TP2: 64219.11 TP3: 64662.34 Will be trailing my SL according to the price movement. I don't think I'll be following the trade, since it's late here, but this will also be a hedge to my SOL short trade that I still have open. Good luck and let me know what you think of the idea.
Long
by MoneyChartz
The difficult path for Bitcoin: don’t Miss the Critical EntryGood morning and good afternoon, traders 🌅. Welcome back to Strategy Master, the only crypto newsletter that dissects market cycles and alerts you before major reversals 🔄. Quick summary before we dive in: ✍️ Bitcoin’s 60-day Cycle low hit on September 6th – what’s next? ✍️ Ideal entry points for 1D, 3D, and 1W Cycles explained 🕵️‍♂️ 🎯The 26-Week Cycle breakdown – what to watch for in 2024 📅 🔔 Why Bitcoin staying above $50k is key to the current cycle 💪 As anticipated, Bitcoin hit its 60-day cycle low on September 6th and has been climbing 📈 ever since. Interestingly, Bitcoin showed impressive resilience, starting its upward move even before reaching the expected bottom of the 1-week cycle. Ok, Strategy Master, this sounds great, but I missed the trade! Where are the best entry points according to Cycle theory? 🎯 No worries 😅—cycles give us the clearest signals for optimal entries. Here’s where to look: ⏳ 60-Day Cycle: The best entry comes near the cycle lows (see the pink box 📦 around early September). If you missed this one, your next chance will come in about 45 days. 📉 1-Day Cycle: Wait for the 1-day cycle to reverse from falling 📉 to rising 📈 (ideally when the indicator is below 20). The last time it flipped was on September 16th. Typically, after hitting 80, it takes ~7 days to return to 20 again. 📊 3-Day Cycle: The ideal time to enter is when the 3-day cycle indicator starts rising 📈, or when it’s below 20. However, the 1-day cycle must also be in the right position. If the 3-day indicator reverses upwards but the 1-day is still above 80 ⚖️, it’s better to wait for a cool-down. On September 17th, both the 1-day and 3-day cycles lined up perfectly. 🗓️ 1-Week Cycle: This cycle is more significant 🔑 than the 3-day because it reflects a longer trend (1-2 months 📅). You can enter once the 1-day condition is met—no need to wait for the 3-day confirmation. Again, September 17th presented a perfect setup (1-week reversal) 🎯. Strategy Master, you’ve previously mentioned Bitcoin’s 26-week cycles. How does that fit into this picture? 🤔 Bitcoin operates on 60-day cycles, with three such cycles typically making up one 26-week cycle. In bull markets 🐂, the first 60-day cycle is usually the strongest 💥 and tends to be “right-translated” (the peak occurs in the second half of the cycle). The final cycle, however, is often “left-translated,” with the top appearing in the first 30 days. In early 2024, we saw the 26-week cycle bottom in January 🏞️, followed by a strong rally from February to March 🏁. However, after that, two left-translated 60-day cycles led us to the 26-week cycle low in July. It’s important to remember that 26-week cycles don’t always last exactly 26 weeks ⏱️. Since 60-day cycles can vary from 45 to 68 days, 26-week cycles can stretch from 20 to 30 weeks 📅. Rarely, they can even deviate beyond that, as we saw in August 2023 when the 26-week cycle lasted just 13 days before kicking off the current bull run 🚀. To better time these cycles, use the 1W Cycle Indicator or the Weekly Stoch RSI (set RSI and Stoch Length to 9) to identify 26-week cycle bottoms 🔻. Ok, Master, what if the first 60-day cycle of the 26-week cycle is bearish 🐻, like it was this time? When the first 60-day cycle is bearish 😓, the odds lean heavily toward a bearish 26-week cycle. Look back at previous bear markets 📉 and their weekly cycles to see the pattern. If the start of the 26-week cycle doesn’t surge upward 🛫, it’s usually a signal of a bearish cycle ⚠️. In such cases, it’s often wiser to wait for the next 26-week cycle low before entering the market ⏳. So, is the current 26-week cycle starting bearish too? Correct! ✅ That’s why I’m not allocating heavily 💡 right now. Based on traditional weekly cycle patterns, it’s better to wait for the 26-week cycle bottom before making any major moves 📉. Bitcoin could reverse its trend by the end of 2024 The market is in an unusual state 🌀. Both the Stoch RSI and the 1-week cycle indicator aren’t giving clear signals ❓ for the next cycle, and Bitcoin has had two failed weekly cycles in a row 🚩 (when the cycle fails to hit 80 and reverses downward). This makes it a particularly risky time ⚠️ to enter the market for the short to medium term (1-2 months 📅). But wait … we can’t break the $50,000 level, right? 💵 We can, but if it happens, the break is likely to be brief 🌬️, making it a great buying opportunity 💼. Given the current conditions, it’s improbable that we’ll slide into a full-blown bear market 🐻 just yet. In the most likely scenario, Bitcoin will stay above $50,000 for the remainder of this 26-week cycle, showing just how resilient it is 💪.
BINANCE:BTCUSD
by TheStrategyMaster
BTC back to Bullish Flag top at 67kWith the 9/18 rate decision already behind us, its time to consider the alternative to the "Rate Decision will crash Bitcoin" narrative and look to the alternative: Bitcoin will trade higher towards the top of its descending flag at 67K with the real chance to crack 70 and head back to a new ATH over the coming weeks. A series of positive articles throughout the market seem to be lifting BTC as well, and the fear and greed index is perfectly poised as well. www.tradingview.com www.tradingview.com From a technical perspective, we also have VWAP support around 58K with a lot of volume behind it. It will be very interesting to see if BTC can start to pick up steam and finally break out of this flag pattern that has been building since March.
BITSTAMP:BTCUSDLong
by CrossTradeTeam
1
#Bitcoin's long-term road plan!-396 days Processed Between 2013 High and 2015 Bottom! -365 days Processed Between 2017 High and 2018 Bottom! -365 days Processed Between 2021 High and 2022 Bottom! -1065 days processed between 2015 Bottom and 2017 Peak! -1065 days processed between 2018 Bottom and 2021 Peak! -1430 days Processed Between 2015 Bottom and 2018 Bottom! -1430 days Processed Between 2018 Bottom and 2022 Bottom! If the 1065 model is processed between 2022 Bottom and 2025 Peak, I think we will see a local peak in October. If the 365 days Model is processed, I think we will see a 2025 Peak in October and a 2026 October Bottom. I will be grateful if you appreciate...
CRYPTO:BTCUSD
by EtherNasyonaL
1
I am ALL IN BITCOIN BTCUSDTSignal: Green on 1st Ribbon for the second time Green on Background Ribbons High Probability to see New High of all time, so I have invested all of available fund - I am ALL IN. As expected on my last post - 1ST signal, #BTCUSDT has done the 1st wave, now the 2nd signal appears. DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make your own decisions and be responsible for your own investing and trading Activities.
Long
by go8686
2
You might be too optimistic about #BTC!Investors are hopeful that risk assets like Bitcoin could see strong gains if the Federal Reserve cuts interest rates by 50 basis points instead of the previously anticipated 25 basis points. However, Bank of America (BofA) urges caution. They recommend not overreacting to any initial market reaction after the Federal Reserve's September meeting. According to BofA, the real focus should be on the Fed’s dot plot, which could have a bigger impact than the actual rate cut. BofA expects the Fed’s dot plot to show higher interest rate expectations than what the market is currently predicting. Despite this, they believe Fed Chair Jerome Powell will maintain a more cautious, or "dovish," tone in his comments. What is the dot plot? The dot plot is a chart that shows where each Federal Reserve member thinks interest rates will be in the coming years. Each dot represents one member’s view. It's a useful guide for understanding where the Fed members sees interest rates in the future.
BLACKBULL:BTCUSD
by BlackBull_Markets