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1-BTC

ZEC/USDT 1D Zcash is a chart I like the look of quite a lot on the 1D timeframe. ZEC has outperformed the majority of the altcoin market since it flipped the 1D 200EMA downtrend into an uptrend. The 1D 200EMA has been I a downtrend for 2.5 years since the very beginning of 2022! Since then ZEC has bounded off the moving average once with a large wick and now it has just swept liquidity and reclaimed. Waiting for a confirmation of support with some clear closes above. The local double bottom can be seen using the 0.25 line as support. The next resistance level is the 0.5 range midpoint should the 1D 200EMA close above with strength. It's important to realise that ZEC is still -92% from its $371 ATH, so it has huge room to grow once price has broken the more local range (1.0 level). If the last few months are an indication of the kind of support it has then it's a very good sign IMO. The local range that is
by ProR35
2
Bitcoin - Time to buy again!Finally, Bitcoin broke the symmetrical triangle and the price can fall to the support zone. also 53k is a good price to buy again!!! ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
37
Bitcoin - Time to buy again!As I mentioned last year, Bitcoin could return to its peak, and it has. Now, as you can see, Bitcoin is in a cup and handle pattern on the weekly timeframe. This can be an incredibly strong signal for a price increase. If the breakout happens, Bitcoin's price could reach $125,000 in the new year, which is not far-fetched, just like the AB=CD pattern. previous Analysis ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard .💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
Chart for trading on time frame charts below 1D chart Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- This is an indicator created for trading on time frame charts below 1D charts. Therefore, there is nothing to explain. This is because trading should be conducted according to your own trading strategy or response strategy. However, I hope that it will be a reference material that allows you to create a trading strategy or response strategy that suits you by looking at the points where you can start trading or the points where you can respond. To use this chart, click the three dots below this idea and click Grab this chart. --------------------------------------------- The basic trading method is as follows. 1. The BW 0 line or BW 100 line is the standard line for trading. Therefore, to start trading for the first time, you will trade with a buy (LONG) or sell (SHORT) position depending on whether these two lines are supported. 2. The Mid (50) line is the position conversion line. Therefore, when trading with a sell (LONG) or sell (SHORT) position, if you touch the Mid (50) line, you should proceed with a split transaction or liquidate depending on the situation. 3. The High (80 Down), Low (20 UP) line plays the same role as the Mid (50) line, but it is a line for the main purpose of a split transaction. Therefore, in the case of a low time frame chart, it may be more helpful to deactivate the High (80 Down), Low (20 UP) lines. - The additional trading method is as follows. 1. If it falls below the BW 0 line, it is likely to lead to a stepwise downtrend. 2. If it rises above the BW 100 line, it is likely to lead to a stepwise uptrend. Therefore, if 1 and 2 occur, you should conduct split trading near the Mid (50), High (80 Down), and Low (20 UP) lines. To determine this, it is recommended to conduct trading by referring to the movement of the StochRSI indicator. If the StochRSI indicator has entered the overbought zone, it is highly likely to lead to an additional rise. Therefore, if it falls in the overbought zone and changes to a state where StochRSI < StochRSI EMA, the price is likely to continue to decline. Conversely, if the StochRSI indicator has entered the oversold zone, it is highly likely to lead to an additional decline. Therefore, if it rises in the oversold zone and changes to a state where StochRSI > StochRSI EMA, the price is likely to continue to rise. With this interpretation method, I recommend using it as a basis for judging how to proceed with a transaction when the price is located near the BW 0 line and the BW 100 line. - When trading, it is recommended to proceed based on the trend of the 1D chart. In other words, if the 1D chart maintains an upward trend, it is recommended to proceed with a transaction to maintain a long position. If you need to trade in the opposite direction of the 1D chart trend, remember that a short and quick response is required. In order to see the overall trend, the M-Signal indicators of the 1M, 1W, and 1D charts have been added. For scalping or day trading, the 5EMA indicator of the 1D chart has been added. - Have a good time. Thank you. --------------------------------------------------
by readCrypto
BTCUSDT (bitcoin): a perspectivehello guys. Price Action Overview: The chart shows Bitcoin within a rising wedge pattern, with the price nearing a key resistance level. A potential pullback is expected in the near term, as highlighted by the downward arrow, before the price potentially retests lower trendline support. Bearish Scenario: The price could see a correction from the current level back to the 58,600 - 57,800 USDT support zone. This is suggested by the wedge pattern, often signaling a potential reversal or pullback before a larger move. Bullish Scenario: If the price finds support at these levels, we could see a bounce, leading to a breakout above the wedge towards 68,000 USDT, as indicated by the larger upward arrow. Market Sentiment: In the short term, traders should be cautious of the possible pullback, but the larger trend remains bullish if the wedge holds and the price respects the lower trendline support.
by melikatrader94
19
BITCOIN → The rally is manipulation. U-turn and down to 52K?BINANCE:BTCUSDT confirms the bearish market structure. After the 59K retest, the price rallies 7%. There is no technical or fundamental explanation for this market manipulation: $6K down, $ 4K up, $5K down, $ 4K up within the last two weeks... Bitcoin is still trading within a sideways range of 65K - 52K. The last resistance retest ended in a false breakdown and a price drop of 11% to 59K. Also, the local change of the market character (price confirms the downtrend) to bearish and formation of the downtrend channel (I remind about the downtrend on D1-W1) plays an important role. Emphasis on resistance 63400, 64130, 65000, possible retest or false breakdown followed by downside realization as we still have not reached the key liquidity zones.... Resistance levels: 63400, 64130 Support levels: 61320, 59000 The price is testing the resistance zone as part of the rally. There is no accumulation or technical potential to overcome this area for further growth. Within the bearish trend, the buyer does not show dominant signs and with high probability it will be stopped in the key zone. A reversal and decline to the lower zone of the sideways range is possible... Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:BTCUSD ;) Regards R. Linda!
Short
by RLinda
120
Bitcoin Faces MA200 Resistance: Is a Deeper Downtrend Ahead?This analysis examines Bitcoin's recent price movements on a daily timeframe. The MA200 (200-day moving average) has now been established as resistance; this comes after a failed breakout attempt in September. Recently, Bitcoin tried to surge above the MA200, however, it fell short, concluding the session with a pronounced negative candle, which signifies bearish momentum. I wish to emphasize a short-term lower high (this could indicate) that Bitcoin will probably keep trending downward shortly. Although the market remains volatile, the current indicators suggest continuing this trend, because traders are wary.
INDEX:BTCUSDShort
by Elysian_Mind
Bitcoin Analysis==>> Short term!!!In the previous posts ✅, we found the Top and Bottom of the rally , which started at $59,830 and continued up to $64,470 . Bitcoin ( BINANCE:BTCUSDT ) is currently moving near the Support zone ($60,000-$59,100) and Potential Reversal Zone(PRZ) . I also expect Bitcoin to make Regular Divergence (RD+) after touching the Support zone ($60,000-$59,100) . According to Elliott's wave theory , Bitcoin seems to be completing wave 5 . I expect Bitcoin to rise above the Support zone ($60,000-$59,100) at least to my First target as shown on the chart( around $61,000 ). ⚠️Note: If Bitcoin breaks the Support zone($60,000-$59,100), we can expect Bitcoin to go down more=first step will be $58,000.⚠️ Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰. 🔔Be sure to follow the updated ideas.🔔 Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; 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
20
Next Volatility Period: Around November 4th Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- The next volatility period is around November 4th. At this time, the point to watch is in which direction it deviates from the range of (54.7K-56.1K) ~ (64.7K-66.6K). - This volatility period is about to end. We need to check if it can be supported around 62856.30. If it receives support near 62856.30, it will enter the box section of the HA-High indicator on the 1D chart, so it is expected to lead to an upward trend to break through the 64748.70-65920.71 section. Otherwise, if it falls, we should check whether there is support near 61099.25. In particular, if the price is maintained above 61759.99, it is expected to show an additional upward trend as it will maintain the state of M-Signal on the 1D chart > M-Signal on the 1W chart. In any case, in order for a full-fledged upward trend, a stepwise upward trend, to begin, the price must be maintained above 64748.70-65920.71. Since the BW indicator is expected to create a horizontal line at the lowest point (0), the point of observation is whether there is support at the BW line point that is created this time. - (Chart under test) (BTCUSDT.P 1D chart) This is a chart for use below 1D charts, but the trend of the 1D chart is important, so be sure to check it before starting a trade. The mandatory items in the BW+ indicator are BW 100, BW 0, and Mid (50). The High (80 Down), Low (20 UP) indicators are optional. The core interpretation method of the BW+ indicator is 1. Buy (LONG): Start trading at the BW 0 line and end trading at the BW 100 line. 2. Sell (SHORT): Start trading at the BW 100 line and end trading at the BW 0 line. 3. The Mid (50) line is the position conversion line. Therefore, since the current BW 100 line has been created, it is time to liquidate the long position entered at the BW 0 line. However, you can decide whether to completely close the transaction by selling 100% or to sell in parts and watch the situation. - Since the BW 100 line has been created, you can proceed with selling (SHORT) as the second key interpretation method. However, as I mentioned earlier, the trend of the 1D chart is important. Currently, the M-Signal indicator of the 1D chart has risen above the level and is showing signs of turning into an upward trend. Therefore, a short and quick response is required when entering a short (SHORT) position. This is because you will be trading against the trend of the 1D chart. - Since it is a futures transaction, you may think that you should trade on a low time frame chart, but that is not necessarily the case. The lower the time frame chart, the more frequent the fluctuations, making it difficult to maintain a position. Therefore, it is important to select an appropriate time frame chart according to the leverage and funds you have chosen. -------------------------------------- A gap down occurred in USDT. We need to check if the gap down occurs continuously. We need to check if USDC is maintained above 26.153B and if the gap downtrend stops. Although the coin market is trend-following, the volatility caused by the movement of funds has a great influence on forming a trend. Therefore, I think that chart analysis should not be done only with trends. ---------------------------------------- (NAS100USD 1D chart) BW line was created at 20287.1. Therefore, if it fails to rise above 20313.8, it is expected to fall. The important support and resistance area in the decline is around 19582.6. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture The full-scale uptrend is expected to start after rising above 29K. The area expected to be touched in the next bull market is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 134018.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points where resistance is likely to occur in the future. We need to check if these points can be broken upward. We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
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.
COINBASE:BTCUSDLong
by SynergyTradingSetups
SLF WYCKOFF WYCKOFF accumulation/distribution pattern on the SLF chart. Could this be the start of a reversal and a move up?? I think it could. My reason is as a fresh new coin this is good for a Bullrun, little to no selling pressure as price rises due to no bag holders selling at break even from previous bull cycles. A rounded bottom structure can provide a base for price to rally from, it proves a growing confidence from buyers, once the top of this mini range gets breached and accepted above it's a great breakout play. ATH is at +156% from current price, and as I stated before there is little to no selling pressure on the way up either which will help this to grow quickly once it gets going. A project that is in its first Bullrun in price discovery is a great combination!
by ProR35
Misconceptions and Truths about Paper Trading Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost". Have a nice day today. ------------------------------------- TradingView also supports Paper Trading. For more information, please click the link below. www.tradingview.com More flexibility: change your Paper Trading account currency : www.tradingview.com Even more seamless order design — directly on chart : www.tradingview.com --------------------------------------- Paper Trading is thought to support trading practice for beginners. However, this is a wrong idea. If you lack prior knowledge about trading or have no concept of trading strategy, you should not do paper trading. The reason is that the psychological burden is different. The success or failure of a trade is thought to be the result of trading strategy or response ability, but in reality, it can be said that it is determined by the battle with oneself and psychological state. This means that psychological state has a significant impact on trading. Therefore, paper trading should be considered as a transaction that is conducted to confirm one's trading strategy and response strategy after completing chart analysis. If you have completed some verification of your trading strategy or response strategy, you should continue to conduct actual trading even if you suffer a loss. The reason is that you should not forget that you can only gain know-how in trading through actual trading. Therefore, paper trading should not be used to practice mid- to long-term trading, but should be used to verify trading strategies or response strategies for short-term trading or day trading. In order to do so, you must close the transaction by selling or cutting your loss. ------------------------------------------- For more information on trading orders in paper trading, please refer to the explanation through the link above. - You can proceed with Paper Trading by clicking the Trading Panel at the bottom menu of the TradingView chart. If you connect to a Paper Trading account, you can start with an initial fund of 100,000. If the Buy/Sell button is not activated, activate the chart settings to activate the Buy/Sell button before proceeding with the trade. Right-click on the space in the price candle area to activate the window, and then hover your mouse over the Trade section to check the trading order or trading settings (when you click the Trading menu in the Chart Settings window). - In addition, TradingView is linked to a real exchange and supports real trading. It supports various exchanges, so I recommend you to check if there is an exchange that you are trading on. - Have a good time. Thank you. --------------------------------------------------
Education
by readCrypto
SEI FOLLOWING SUI??SUI has been on a great run in the last few months being a first mover in the altcoin space while BTC has been chopping for 6 months, now SUI is on the very edge of pushing above above the local high. The chart on the right is SEI and looks like the chart lines up perfectly just lagging behind by a month. This could be a great trade opportunity going into the end of the year/Q4. If the trajectory is the same as SUI we could look to expect a +218% move, and structurally even without a comparison to SUI the chart TA suggests a new higher high and higher low bullish structure which will naturally want to climb back up the chart. Bitcoin generally has a big part to play in the altcoin world, however SUI has made this rally on its own without the pulling power of BTC, could SEI do the same???
by ProR35
HelenP. I Bitcoin will small correct and then rise to trend lineHi folks today I'm prepared for you Bitcoin analytics. Some days ago, the price reached the trend line and at once rebounded and made a strong impulse down to the resistance level, which coincided with the resistance zone. BTC some time traded inside this area and then dropped to the support level, breaking the 63600 level. Then price some time traded near the support level, and later declined to the support area, after which turned around and started to grow to the resistance level. In a short time, BTC rose to the 63600 level and even rose to the trend line, but then at once turned around and dropped back to the support level, making a fake breakout of the 63600 level. After this movement, the price turned around and started to grow, and now I expect that BTCUSDT will make small correction to the support level. Then it can turn around and start to move up to the trend line, therefore I set my goal at 63000 points, which coincided with this line. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
8
BTC - Do You Remember This? Now What?Hello TradingView Family / Fellow Traders, 📍Following my last BTC Monthly log view analysis on November 11, 2022 , we anticipated the bulls taking control after rejecting the lower green trendline and horizontal support. Currently BTC is approaching its all-time high! What's Next? 📈 If the current all-time high (highlighted in red) is surpassed, we anticipate a 254% increase, mirroring the last bull cycle. This aligns with the upper boundary of the green channel and the 200k - 250k round numbers. ⚠️ However, the journey may encounter bumps, leading to sharp correction movements to shake out weak hands. This bearish scenario, would mean retesting the lower green trendline before surging! 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
BITSTAMP:BTCUSDLong
by TheSignalyst
22
BTC Market Analysis 27.09.2024📌BTC Market Analysis📌 Overview: The current BTC market is showing mixed signals, indicating potential for both bullish and bearish scenarios depending on key resistance and support levels. The analysis focuses on a WXY correction pattern on the larger timeframes and a potential bullish continuation on the shorter ones. Here’s a detailed breakdown of the potential paths BTC might take: 📌Bearish Outlook:📌 Scenario 1 - 1D Timeframe: Chart Reference: BTC 1D Analysis BTC is currently completing a WXY correction where each wave (W, X, Y) is composed of an ABC pattern: W = ABC X = ABC Y = ABC Currently, the price is at the top of the B wave of the Y correction, expected to end between $65,600 – $68,100. Key Levels: Invalidation Level: $73,770 — If the price closes above this level, the bearish scenario will be invalidated. Take Profit Area: $44,013 - $40,813 — This zone represents a reasonable target for shorts if the bearish move materializes. 📌Scenario 1 - 4H Timeframe:📌 Chart Reference: BTC 4H Analysis Zooming into the 4H interval, we can see a more detailed structure of the B wave of the Y correction. Bearish Divergence is forming on the 4H timeframe, which could signal a potential reversal. A key diagonal support trendline is visible (marked in aqua on the chart), and this line has been sustaining the bullish trend for the past 21 days. Strategy: It is crucial not to prematurely short this market. Instead, wait for a rejection from the box area and look for confirmation if BTC breaks below the trendline. If this happens, the bearish divergence would be confirmed, and a stronger downtrend could ensue. 📌 Scenario 2 - Alternative Bearish View: 📌 Chart Reference: BTC Bearish Scenario 2 This scenario is currently the least probable but still possible. The structure could either be a WXY or a simpler ABC correction. WXY: A complex corrective pattern with internal ABC formations. ABC: A simpler structure where Wave C must have 5 waves down, while Y has corrective ABC movements down. The flat correction pattern generally targets 0.786 - 0.886 Fib retracement levels, which in this case are between $68,602 - $71,015. Key Levels: Targets: $43,224 - $39,608 — Potential bottom areas for both WXY and ABC scenarios. Invalidation Level: $73,777 — If BTC breaks and closes above this, the bearish view will be negated. 📌 Bullish Outlook: 📌 📌Scenario 1 - 1D Timeframe:📌 📌Chart Reference: 📌 BTC Bullish Scenario 📌 Live Chart: 📌 BTC Bullish Scenario Live chart This is the only bullish scenario currently under consideration. The confirmation for this setup would be a breakout above the previous ATH (All-Time High), which stands at $73,835. 📌 Important Note: 📌 This wave represents the final leg of the entire bullish cycle. It’s characterized by increased volatility and risk, as the uptrend could end abruptly. 📌 How to Trade It: 📌 Regularly take profits as the price moves higher. Gradually exit positions instead of waiting for the absolute top. The moment BTC hits the actual cycle top, it could see a 20-30% drop in a single day. Recoveries can take months or even years if one gets caught in this position, as the market could transition into a prolonged bear phase until the next bullish cycle. 📌 Technical Details: 📌 The analysis shows clear wave structures. Wave 4 bottomed at $49,043, sitting on the 0.5 Fib level, a typical strong support for Wave 4 in Elliott Wave Theory. 📌 Targets: 📌 $85,406 – $92,679 — These are nominal targets based on current wave projections, without considering extended waves. Invalidation Level: $52,413 — If the price falls below this point, it would confirm one of the bearish scenarios instead. ⚠️Causion: ⚠️ BTC is currently at a critical juncture. While a bullish continuation is possible, it requires breaking the previous ATH to confirm. On the other hand, the bearish scenarios provide multiple levels of confirmation, including bearish divergences and trendline breaks, which could suggest a deeper correction if confirmed. Traders should maintain a cautious approach, utilize appropriate risk management, and stay nimble as the market reveals more information. ⚠️ Disclaimer: ⚠️ 🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
COINBASE:BTCUSD
by RhinoAkaBear
BTC/USDT NEXT 2-3 WEEKS GAME PLAN 30.09.2024Bitcoin/USD Analysis Update 🪙📉 In our previous outlook, we emphasized the importance of waiting for a clear directional move. Today, we witnessed a breakdown of the bullish trendline that had been holding for the last 24 days, signaling a potential start of a larger bearish structure. I took advantage of the initial breakdown with a quick short trade and am now focusing on positioning for the next major wave. Current Market Outlook: Bearish 📉 Based on the Elliott Wave Theory (EW) and additional confirmations, it is evident that the trend is bearish on the swing-term (7 days and beyond). Currently, we are in a mini wave 3 of the first larger wave from the recent top. While it's not yet certain whether this is wave 1 or wave A, the upcoming move should clarify the structure. In either scenario, we can expect a strong wave 3 or wave C to unfold, potentially offering lucrative short opportunities. The accompanying chart outlines my projected path for BTC over the next 14–18 days. The roadmap should help visualize the expected movements, showing key targets where I anticipate the price to reach. Wave Analysis & Strategy: Currently, the price is moving in what appears to be the first wave of a new downtrend. If this scenario holds, the initial target for this wave is set between $62,350 and $61,888, where I expect wave 1 to complete. Once this target zone is hit, I anticipate a pullback to the $64,000–$65,000 range. This pullback will form either wave 2 or wave B, presenting an opportunity to re-enter the short side. My strategy here is to look for short entries around this level, with the invalidation level set at $66,200. If the price reaches this point, it would signal a potential shift in structure, and I would re-evaluate my bearish bias. Projected Outcomes: Wave 3 Scenario: If we are in wave 3, the next major target would be around $59,000 or potentially much lower, depending on the momentum and overall strength of the sell-off. Wave C Scenario: If this structure turns out to be wave C, then the move might not go below $61,000–$60,000. The reaction at this level will be critical for determining whether we are in a corrective wave or a more aggressive decline. Impulsive Move Scenario: In case this is an impulsive move with a 5-wave structure, it could lead to a more extended downtrend. In this scenario, the main target for the entire downward move is between $57,800 and $56,000. After reaching this zone, I expect a 10-day consolidation period before a significant drop towards the $44,000–$40,000 range. This would mark the completion of a larger degree wave, setting up for a potential medium-term recovery. Key Levels to Monitor: Wave 1 Target: $62,350 – $61,888 Wave 2/B Pullback Zone: $64,000 – $65,000 Wave 3 Target: $59,000 Wave C Target: $61,000 – $60,000 Final Impulsive Target: $57,800 – $56,000 Long-term Target: $44,000 – $40,000 Invalidation Level: $66,200 ⚠️ Disclaimer: ⚠️ 🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
BITSTAMP:BTCUSD
by RhinoAkaBear
BTC/USDT Daily AnalysisCurrently, we are in a zone of uncertainty ⚠️. If BTC loses the blue horizontal line, it will signal a breakdown and likely lead to a drop into the 58,400 - 57,700 range 📉. 🔸 The main resistance is the light blue diagonal trendline, which has been acting as resistance since the drop from 66,100 USD. If this diagonal trendline is broken, the next target should be between 63,300 - 64,500 , which corresponds to the 0.5 - 0.65 Fibonacci retracement levels. 🔝 🔹 The bounce from the bottom (60,164) up to 61,928 USD was supported by a triple bull divergence 🐂📈, and the move was an impulsive wave upwards , indicating that another upward push is likely. However, after reaching 61,928 USD , a bearish divergence formed 🐻🔻, confirming a weakening trend on the lower timeframes. Following this, the light green diagonal trendline was broken, signaling the beginning of a pullback and a move towards a retest for a resistance/support fli p. 🔄 🔸 Currently, the price is undergoing a downward correction and testing the previous resistance to establish a support level. We are waiting for the creation of another bullish divergence on the lower timeframes—specifically a hidden bullish divergence 🔍🟢. This setup would indicate a potential push to at least the 0.5 Fib level , marking the end of the correction before resuming the new bearish trend 📉. ⚠️ Invalidation: If we break above 66,000 USD , it would confirm a reversal of the main trend, indicating that the market is now bullish 🐂💪 and we could be heading towards a new all-time high 📈🚀. ⚠️ Disclaimer: ⚠️ 🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
BITSTAMP:BTCUSD
by RhinoAkaBear