Bitcoin Trends: Identifying Bullish and Bearish Signal.
Updated
Hello Trading View Community,
From soaring to record highs to suddenly dropping over 10%, Bitcoin (BTC) has been full of surprises. Today, let's dive into this rollercoaster ride, exploring the twists and turns of Bitcoin's recent price movements and what might lie ahead.
Bear Divergence in RSI and Price Action 📉
Our journey starts with a notable bear divergence on BTC's daily chart. Here's the scene: Bitcoin prices reaching for the stars while the RSI, our trusty sidekick, decides it's not quite ready to leave the ground. This divergence signals a potential cooldown or reversal on the horizon, suggesting the latest rally might need to catch its breath.
What Does the Trend Say? 🔄
Rewind to October, when our trend-finding indicator flashed a bright Long signal, setting the stage for the rally that led to January's highs. This beacon was a trader's dream, but like all dreams, a wakeup call—marked by today's shift, as spotted by our dot plotter—suggests a moment of pause or a plot twist in Bitcoin's saga.
Plotting the Dots... 📍
Our dot plotter, straightforward yet insightful, has begun signaling a change in momentum, suggesting the party might be winding down. It's like the DJ switching from high-energy beats to a slow jam, hinting it's time to pay attention to the changing vibes.
EMA's to the Rescue? 🛡️
Zooming into the EMAs, we see Bitcoin comfortably above our 21 EMA (the one in pink), keeping the bullish spirit alive. However, it's a delicate balance; staying above this line could mean this is just another one of Bitcoin's famed quick corrections.
Wrapping It Up... 🎬
Considering the bear divergence in RSI and the signals from our custom indicators, a bit of caution could go a long way. The journey since October has been lucrative for those who followed the Long signals, but the road ahead seems uncertain. The convergence of our analysis suggests it might be time to brace for a potential short-term shift.
For enthusiasts hoping to see Bitcoin's ascent resume, the key is to stay vigilant with the charts in the coming days, with a keen eye on the weekly close. This current dip may very well be one of Bitcoin's classic corrections that prelude a continued upward trajectory. Yet, caution remains the word of the day.
As we navigate this uncertain terrain, the descent of Bitcoin will have us closely monitoring for a close below the 21 EMA, signaling a potential shift in strategy. A new Short signal could then emerge as our beacon, guiding our next moves in this ever-evolving saga of Bitcoin trading.
Thank you for joining me on this analysis. If you've found it helpful or entertaining, a "Like" or "Follow" would be much appreciated.
Trade wisely, and remember, these insights are here to aid your journey, not dictate it. These are just ideas, not trading advise...
From soaring to record highs to suddenly dropping over 10%, Bitcoin (BTC) has been full of surprises. Today, let's dive into this rollercoaster ride, exploring the twists and turns of Bitcoin's recent price movements and what might lie ahead.
Bear Divergence in RSI and Price Action 📉
Our journey starts with a notable bear divergence on BTC's daily chart. Here's the scene: Bitcoin prices reaching for the stars while the RSI, our trusty sidekick, decides it's not quite ready to leave the ground. This divergence signals a potential cooldown or reversal on the horizon, suggesting the latest rally might need to catch its breath.
What Does the Trend Say? 🔄
Rewind to October, when our trend-finding indicator flashed a bright Long signal, setting the stage for the rally that led to January's highs. This beacon was a trader's dream, but like all dreams, a wakeup call—marked by today's shift, as spotted by our dot plotter—suggests a moment of pause or a plot twist in Bitcoin's saga.
Plotting the Dots... 📍
Our dot plotter, straightforward yet insightful, has begun signaling a change in momentum, suggesting the party might be winding down. It's like the DJ switching from high-energy beats to a slow jam, hinting it's time to pay attention to the changing vibes.
EMA's to the Rescue? 🛡️
Zooming into the EMAs, we see Bitcoin comfortably above our 21 EMA (the one in pink), keeping the bullish spirit alive. However, it's a delicate balance; staying above this line could mean this is just another one of Bitcoin's famed quick corrections.
Wrapping It Up... 🎬
Considering the bear divergence in RSI and the signals from our custom indicators, a bit of caution could go a long way. The journey since October has been lucrative for those who followed the Long signals, but the road ahead seems uncertain. The convergence of our analysis suggests it might be time to brace for a potential short-term shift.
For enthusiasts hoping to see Bitcoin's ascent resume, the key is to stay vigilant with the charts in the coming days, with a keen eye on the weekly close. This current dip may very well be one of Bitcoin's classic corrections that prelude a continued upward trajectory. Yet, caution remains the word of the day.
As we navigate this uncertain terrain, the descent of Bitcoin will have us closely monitoring for a close below the 21 EMA, signaling a potential shift in strategy. A new Short signal could then emerge as our beacon, guiding our next moves in this ever-evolving saga of Bitcoin trading.
Thank you for joining me on this analysis. If you've found it helpful or entertaining, a "Like" or "Follow" would be much appreciated.
Trade wisely, and remember, these insights are here to aid your journey, not dictate it. These are just ideas, not trading advise...
Note
Waking up today, we see Bitcoin (BTC) trying to reclaim its upside momentum. However if we drilldown to the 4HR timeframe, we see a bit of weakness as it tries to create a Higher High. If BTC fails to make a higher high, it could signal some sideways action and perhaps a continuation of a much needed correction. Another important point, is the liquidity left behind on both sides of the isle. These liquidity or "stop hunt" levels usually get filled at some point or another as there are plenty of orders needing to be filled at those levels.
No need for panic if you are long but caution is warranted. For those bears out there, keep in mind BTC has not yet entered bear territory and Bulls are still very much in control.
Trade safe and don't FOMO into trades. Let the trades come to you!
Note
As we mentioned previously, Bitcoin (BTC) has ran into a bit of wall momentarily stopping its upside momentum. This has lead to a consolidation range between💲68k-💲65K area. If we drill down even further into the smaller timeframe we can clearly see this consolidation using the 30min 📈.So what do we do here? Nothing, we wait till a new trend is established and we trade accordingly. If you are long on higher timeframes, we continue to exercise a bit a caution. At this time we are not opening any short positions but rather waiting on new direction.
As always, trade safe and don't FOMO into trades. Let the trades come to you!
If you have any questions feel free to reach out.
Please note, these are just ideas, not trading advise...
Note
A quick update on Bitcoin (BTC): our trend-finding script has identified a new long signal on the 30-minute chart, hinting at a possible upward continuation. However, it's essential to keep in mind that this signal, coming from a shorter timeframe, carries less weight than those from 4-hour or daily charts.The critical piece to watch now is Bitcoin's ability to demonstrate upside momentum out of its current range box. This movement is necessary to validate the long signal we've observed. Without this confirmation, the signal's reliability remains in question for those looking to make significant trading decisions.
Remember, while the new signal presents a potential short-term trading opportunity, its shorter timeframe means higher volatility and less predictive power. Traders should use this signal as one of many tools in their strategy, always considering the bigger picture and waiting for additional confirmation before acting.
Stay cautious, and happy trading!
Disclaimer: This post is for informational purposes only and should not be taken as financial advice. Trading in cryptocurrencies involves risk and could lead to the loss of your investment. Always conduct your own research and consult with a professional advisor.
Note
Just a quick heads-up following our recent long signal on BTC's 30-min chart, which led to a nice 3.51% bump. However, the market quickly flipped, sending BTC back down. This is a classic example of why we said it was a solid play for those quick on their feet, like short-term traders and scalpers.30min Chart (Great signal entry for scalpers)
This turnaround might be hinting at a double top forming for Bitcoin, signaling we could be heading into a larger correction or consolidation on the bigger time frames. But, it's too early to call. Keep a close eye on how today and this week wrap up to get a clearer picture.
As always, stay sharp and flexible in your trading. Catch you later with more updates!
4hr Chart (Potential weakness showing with RSI)
Disclaimer: This post is for informational purposes only and should not be taken as financial advice. Trading in cryptocurrencies involves risk and could lead to the loss of your investment. Always conduct your own research and consult with a professional advisor.
Note
Bitcoin (BTCUSD) has been on a bit of a rollercoaster ride lately! After a sudden drop last Tuesday, March 5th, it's been clawing its way back up, albeit in a bit of a zigzag fashion. Last Friday, our trend-spotting tool gave us a thumbs up for a Long position, and sure enough, Bitcoin's value nudged up by a little over 5.5%. But now, it's having a tough time breaking past the 74K mark, throwing up some shaky signals like shooting stars and hanging man candles. While these could hint at a potential shift or a breather in the trend, it's still early days to call a major turnaround. Keep an eye on the 21 EMA (that's the pink line) – a dip below that could be our red flag for a momentum switch to the downside. But for the moment, it's a waiting game to see what the latest 4HR candle unveils.Disclaimer: This post is for informational purposes only and should not be taken as financial advice. Trading in cryptocurrencies involves risk and could lead to the loss of your investment. Always conduct your own research and consult with a professional advisor.
Note
Quick heads up – BTC just did a quick dip to our support zone and bounced right back up. If this current 4-hour candle can outshine the last one, it's looking like we're in for more upward action. That bounce was a solid move by the bulls, pretty much wiping out what could have been a big red flag from the bears. The next 4-hour candle is going to be a big deal and will show us if the bulls can keep their grip on the game.Disclaimer: This post is for informational purposes only and should not be taken as financial advice. Trading in cryptocurrencies involves risk and could lead to the loss of your investment. Always conduct your own research and consult with a professional advisor.
Note
Just wanted to give you the latest on BTCUSD—looks like it's been a bit of a roller coaster! After our last update where we saw BTCUSD take a dive to our support zone and then bounce back, it's now dipped back to that very same spot, clearing out any leftover liquidity from the previous drop. This time, it's even slipped below the 21EMA (that's the pink line, for anyone keeping track), hinting at a potential shift to bear territory on the 4-hour chart.But, hey, it's not all doom and gloom! We're seeing another bounce in the action right where we expected, in our trusty support zone. It's super important for BTCUSD to cling on here because if it doesn't, we might just see it slide down to the next support box waiting below.
Right now, we're all eyes on the charts, waiting to see if our trend-finding script signals a short. Till then, we'll keep watching how BTCUSD handles these ups and downs within these key zones.
Current Drop and Bounce:
Disclaimer: This post is for informational purposes only and should not be taken as financial advice. Trading in cryptocurrencies involves risk and could lead to the loss of your investment. Always conduct your own research and consult with a professional advisor.
Note
Hey everyone! Quick update on BTCUSD for you traders out there. Looks like Bitcoin just couldn't muscle its way past that stubborn resistance zone. Not only that, it's taken a couple of swings at the 21EMA and missed both times. Our trusty trend-spotting script has flashed a new short signal, hinting that we might be in for a bit of a tumble down to the next support zone. Seems like the bears might be taking the wheel on the 4hr chart.For those eyeing a short position, here's a heads up: the Daily chart is still flaunting its bull market colors. This means the current downtrend could flip on us faster than a pancake on Sunday morning, especially since we're not seeing eye to eye with the larger timeframes just yet.
Stay sharp and trade smart!
Disclaimer: This post is for informational purposes only and should not be taken as financial advice. Trading in cryptocurrencies involves risk and could lead to the loss of your investment. Always conduct your own research and consult with a professional advisor.
Note
Here we go again! Our trend-spotting script has nailed it once more 🎯. Just last Friday (3/15), we chatted about a fresh short signal for BTCUSD 🔍. Since then, the price has dipped around 8%, landing smack dab in our support zone 📉. As of this post, BTC is on a bit of a slide, inching closer to the 200 EMA (that red line 🔴) on the 4-hour chart. This spot might give BTCUSD a bit of a breather, but let's not forget about the two liquidity levels lurking just below our main support area 🛑. We kinda saw this move coming on the 4-hour chart, especially after BTCUSD got the cold shoulder at our resistance zone, followed by those relentless 21EMA snubs 🔄.Here's another thing to chew on: our daily chart now shows BTCUSD below the 21 EMA, which could mean the price might take another hit 📊. But, with the expected halving in 2024 ⏳, this could all be part of the setup for a big bullish run 📈.
For now, we're sitting tight, waiting for a clear sign of a turnaround before jumping into any new long positions. Stay tuned! 💡💰
Disclaimer: This post is for informational purposes only and should not be taken as financial advice. Trading in cryptocurrencies involves risk and could lead to the loss of your investment. Always conduct your own research and consult with a professional advisor.
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