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Bitcoin — Bull Flag Scenario Still On The Table — Target 100k Bitcoin's latest crash reinforced the HTF bull flag scenario. BTC touched the flag's lower boundary precisely and rebounded strongly. A breakout to the top would provide an extremely bullish signal and bring 100k back on the table. However, we are not there yet. Nevertheless, besides the logical resistances at 60k and the previous ATH, the bull flag scenario is one of the most important setups to watch right now.
COINBASE:BTCUSDLong
by ben_walther
BTC Bearish Pattern in Weekly ChartAfter a long time, BTC has been dropped with weekly candle below bottom line of Pi cycle average line. This is a bearish pattern based on the history. Now resistance is around 65000. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
INDEX:BTCUSDShort
by rukshan2102
Bitcoin(BTC/USD) Daily Chart Analysis For Week of July 5, 2024Technical Analysis and Outlook: Bitcoin has retraced to our pre-established completed Inner Coin Dip level of 59000, Outer Coin Dip of 57000, and current Outer Coin level of 54000. We anticipate a recovery from this landmark move, with a target to attain the Mean Resistance at 57900 and extend to the Mean Resistance at 60400. Conversely, our principal downside objectives encompass a retest of the completed Outer Coin Dip 54000 and potentially the subsequent Outer Coin Dip 51000.
BITSTAMP:BTCUSD
by TradeSelecter
Bottom in zone , first target .Evening friends, mastershark here . Last ta i gave you two scenarios for bullrun start which we are hitting the lower surface one . Here’s my opinion about how we touch the bottom line and how we react, there’s two boxes as support which I drew them with fibo and timetrend assistance, I believe that the red blood will be finished in a short time and we enter up only pace . It might takes two weeks or less and i do believe that one of the supports I drew could be reversal levels . In the first scenario we already hit the bottom and nothing to worry a out , second scenario which is possible is to hit 48k lvl as the last shakeout . My first target would be close to 150k which is 4.236 fib level . Stay safe and dyor fam
INDEX:BTCUSD
by mastershark
2
BTC - RSI in TROUBLE for SHORT TERM Continuing this long standing analysis on Bitcoin since I first pointed out the danger of an M-Pattern forming: The Weekly RSI has dropped under 50 , which is bearish for the time being (until the RSI gets back above 50). However, this alone does NOT mean we're back in a bearish cycle. Watch the video to see the conditions. Previously, we were discussing the likelihood of a 20% retracement: To clarify - I still think it's likely for Bitcoin to see another ATH this year. But, as I pointed out in the fractal, it could be a multi-month playout. ___________________________ BINANCE:BTCUSDT
Short
by CryptoCheck-
BTC WILL RECOVERY BACK! 65K - BTC did always recovery back NEW BTC uptrend TREND ACTIVATION SINCE 30 MIN we have seen an unexpected breakdown in BTC in the last few days since there are many news trends. BTC has proof time by time that it can recover, and we expect that it will do so this time. We are looking for the next 8H so that BTC can hold the volume and start to make a new recovery. Since the history of BTC --> it has always recovered from halving to halving. $53400 can become an important DIP buying y trend whales with a return to 65K Don't follow news, follow only your study depending on data and TA. all that is going on BTC, shows on price action. 56K did show before to be an important return point for the trend.
Long
by SatochiTrader
Crypto Market Update July 5, 2024Bitcoin Trend Analysis Bitcoin's price declined -16% over the last four days. Following yesterday's open and close below the High-Volume Node Range, Bitcoin's price descended swiftly through the Low-Volume Node to reach a spot low of $53,219. As I have taught for years, price moves quickly through Low-Volume Nodes, either through them or away from them. Contrast that with how long Bitcoin's price ranged through it's High-Volume Node for comparison. Throughout last night's London Session, and today's early morning New York Session, buyers have stepped back in across the market, taking advantage of Bitcoin's discounted price and pushing our current price up 5% from its lows. We have now closed two Daily Candles below the Daily 200 Simple Moving Average. On all previous occurrences, we have "rallied" back upwards to re-test the breakdown point. Comparing this with price's behavior when falling below the Realized Price Cost Basis of the Short-Term Holder Cohort (3-6 months), the dynamic is the same. Although we see that more accurately, price rallies to re-test that Cohort's Cost Basis. That price is currently $60,500. That also aligns with the approximate breakdown level when Bitcoin's price began declining rapidly. There is discrepancy in these historical examples with how quickly this rally occurred. In most occurrences, it happened very quickly, within a few days or week. In two of the examples, price consolidated sideways in a tight price range for approximately two weeks before making such a move. In those latter two examples, the rally was weaker then when price made a more V-Bottom shaped recovery. However, one thing that is 100% accurate is that when price closes below the 200 Daily Simple Moving Average after reaching an All-Time High, it is a signal of the end of that current market cycle. During the last Market Cycle of 2021-2022, price did rally all the way to re-test the previous All-Time High and even made a slightly higher one. However, it failed to sustain a breakout and rejected, marking the Double Top end of that Bull Market. Therefore, my analysis would suggest that this does indeed mark the end of the 2023-2024 Market Cycle, and unlike all previous historical Bull Markets we were not able to successfully sustain a strong breakout above previous All-Time Highs. Each previous Bull Market ended with a sustained stay in the 'Euphoria Phase' of the market - the most critical time when prices appreciate rapidly. How quickly we bounce and how far, is dependent on current market factors. As I have advocated our Academy Members and our reading public to be sitting in cash for over two months now, I feel quite justified witnessing the carnage wrought on the market with the fear and uncertainty of the last few days. On a personal note, while I look back and see improvements on how I could have traded this (I didn't take large short positions that captured much of this bearish price movement past $60k) - my focus on Risk Management and Capital Preservation has allowed me to largely sit out this bloodbath. Living to fight another day is the key concept of Money & Risk Management - if you lose it all, you can no longer trade. If you preserve your bankroll, there's always another trade. Bitcoin Technical Analysis Bitcoin's Bearish Trend is confirmed by the Gann Swing & DPMO Indicators. We can see increasing sell-side Delta over the last four trading sessions, with Time Transformation marking the re-test of our Base Line with Hidden Bearish Divergence. Price is not oversold on the Daily Timeframe, and we have Descending Trendline Support at approximately $50,000 - which also aligns with a previous consolidation range during Bitcoin's ascent and a High-Volume Node. My current expectations are a re-tracement to approximately $60,500 - where we will evaluate the strength of a rejection if it occurs and consider targeting the $50,000 zone with short positions. Otherwise, if buyers are unable to create this rally immediately, we expect prices to fall to approximately $50,000 before a sideways consolidation and a weaker rally. Bitcoin Liquidation Heatmap cdn.prod.website-files.com Something very interesting about futures markets can be taken away from today's Liquidation Heatmap. As we can see, Long Liquidations were continually shattered as Bitcoin's price continued to decline. However, if you pay attention to the Liquidation Profile below the current lows, you can see it was very thin. Not many liquidations were there. This is a general rule of thumb I've noticed with trends. If price is trending down strongly, and buyers are still buying and setting limit orders below price, then price is much more likely to continue trending down, as there is liquidity there. Similar with liquidation levels, as long as buyers keep longing and setting liquidation stops in great density below price, price often continues lower to snatch that liquidity. However, once buying interest starts to dissolve, and buyers get exhausted, and liquidations stop appearing so densely, that's often when price stops and reverses. That's exactly what we see here. As we can see, on today's upthrust we've cleared most short liquidations. That would mark right now as a high-probability zone to consider short entries, because if price continues upwards the short squeeze might accelerate to $58 - $60k as expected in my retracement analysis.
BITFINEX:BTCUSD
by CrackingCryptocurrency
Well This Isn't A Good Look For BitcoinIt's been a hard couple of weeks in the crypto markets, and it is not looking much better when you zoom out to the weekly timeframe. The Logical Trading Indicator is flashing a sell signal on this week's candle which means that we have some serious downward momentum hitting the Bitcoin market. For you new guys, this means that there is way more selling pressure coming into the market than buying pressure. Trading is nothing but a game of supply and demand. My thought is that the Bitcoin ETF news event earlier in the year caused us to go into an early cycle that broke all time highs WAY too soon. Now we are paying the price for that, literally... Now that the big boys of Wall Street are manipulating the price, there is no telling what is going to happen. As retail traders, we just need to be able to catch and ride the waves because we don't have enough capital to move the price on our own anymore. What I see happening is that if this weekly candle closes with this sell signal, that will drive the price of Bitcoin down closer to the next somewhat level of market structure, which is around $50k. After that, the next solid level is around $37K-$40K. Not saying it's going to happen, we all want to be optimistic about the price, but we have to face reality that Wall Street wants cheaper Bitcoin so they are going to short futures until they get it to the price they want to buy it at. Once they get their fill, then we could see some real fire works when it comes to a pump in price, but we just have to be patient and ride their wake for a while until it happens. It's very important to not get caught up in the noise on social media and focus on the data in the charts. Fundamentally, Bitcoin is not making any changes. The only news is about regulations and on and off ramps, but nothing about the actual blockchain or it's mechanics. So based on that, BTC traders can really just focus on price movements for now. Don't let a small price pump fool you either, Wall Street wants cheaper Bitcoin, and they will get what they want. Now on the flip side of this, if we hold this level as support, which honestly is not looking like the case as of this post, but if buyers do hold this level, we look at this dump as a shake out and may start the next leg up. So again, we have to be ready for anything. This is really why I just let the Logical Trading Indicator tell me when it's time to pay attention and when to trade. Are you bears ready for another ride down? Or are you bulls gearing up for a moonshot? Be careful out there in these volatile markets and trade logically!
COINBASE:BTCUSD
by thelogicaldude
BITCOIN ( UNDER TURNING LEVEL ) ( 4H )BITCOIN HELLO TRADER S Tendency the price trade below turning level at 56,752 , indicates is under bearish pressure TURNING LEVEL : a blue line between resistance and support level around 56,752 , indicates if the price stabilizing below this level reach support level , if the breaking turning level reach a resistance level RESISTANCE LEVEL : there is a black line around 59,383 , indicates selling have already increase this level , so if the price breaking turning level reach this level SUPPORT LEVEL : there is a red line below turning level around 54,488 , indicates buying have already increase this level , so if the price stable below turning level reach this level PRICE MOVEMENT : first the price will trying to rising a turning level around 56,752 , after dropping to the support level around 54,488 , then stable below this level reach 52,454 , if the price breaking turning level reach a resistance level by 59,383 , then stabilizing above this level reach a 63,383 TARGET LEVEL : RESISTANCE LEVEL : 59,383 , 63,383 SUPPORT LEVEL : 54,488 , 52,454
BITSTAMP:BTCUSDShort
by ArinaKarayi
1