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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
BTCUSDT RSI EMA VWMA Signals with Profit Target for CryptohopperThis strategy combines the Relative Strength Index (RSI), Exponential Moving Average (EMA), and Volume Weighted Moving Average (VWMA) to create buy and sell signals, along with a profit target, for cryptocurrency trading. It is specifically designed for use with Cryptohopper through webhook alerts. How It Works: Buy Signal: A buy signal is triggered when the RSI crosses above the lower threshold (user-defined) and the 9-period EMA is above the 20-period VWMA. Sell Signal: A sell signal is triggered when the RSI crosses below the upper threshold (user-defined). Profit Target: Once a position is opened, the strategy sets a profit target based on the user-defined percentage. When the target is reached, the position is closed. Indicators Used: RSI (Relative Strength Index): A momentum oscillator measuring the speed and change of price movements. EMA (Exponential Moving Average - 9 period): A moving average that gives more weight to recent price data. VWMA (Volume Weighted Moving Average - 20 period): A moving average that takes volume into account, giving more weight to periods with higher trading volume. Features: Generates buy and sell signals based on RSI and moving average conditions. Allows users to set a profit target percentage for each trade. Alerts can be sent via webhooks to integrate with platforms like Cryptohopper to automate trading. Alerts are provided for buy, sell, and when the profit target is reached. How to Set Up Alerts for Webhooks: Apply this script to your TradingView chart. Set up alerts for the buy and sell conditions. Enter your Cryptohopper webhook URL in the alert configuration to automate trade execution. Disclaimer: This strategy is for educational purposes only and should not be considered financial advice. Trading cryptocurrencies involves a high level of risk, and users should do their own research or consult a financial advisor before making any investment decisions.
Long
by PPonBIN
BTC/USDT 4HOUR CHART UPDATE !!The recent 4-hour BTC/USDT chart update shows that Bitcoin attempts to break the downward trendline resistance of around $64,000. However, the projection indicates a downward move, potentially pushing the price toward the support zone near $50,500, which aligns with the lower green trendline. This suggests that Bitcoin may face selling pressure after failing to break this resistance, which could lead to a broader correction. How does the price react to the $63,000-$64,000 range? A successful breakout could invalidate the downward projection, while failure to sustain above $64,000 could accelerate the decline toward the projected lower support levels. Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
by CryptoSanders9563
5
BITCOIN aiming straight at 80000 if this Resistance breaks.Since the March Top, Bitcoin hasn't broken any previous Lower High Resistance. Resistance A has rejected any breakout attempt each and every time. Bitcoin is at the moment testing the latest Resistance A level and if broken, we will have the first long term bullish break out signal in months. The August-September price action looks like the January-February fractal that broke upwards aggressively to form the March top. If Resistance A breaks, we expect a similar rally to reach at least 80000 (2.0 Fibonacci extension). Follow us, like the idea and leave a comment below!!
CRYPTO:BTCUSD
by TheCryptagon
3
9/23 Crypto Faces Gloomy October.Overview: The AMEX:SPY closed higher last week, but Thursday’s candlestick pattern resembles a bearish abandoned baby. What’s more concerning is the weekly chart showing a bearish MACD divergence—while the price keeps hitting all-time highs, both the MACD and signal lines are trending lower. Has this divergence played out already, as seen in the first week of August, or is it still ahead of us? You may have noticed that we only have two more rate cuts left for the year. Why not three, with three months remaining? The Federal Open Market Committee (FOMC) meets only eight times a year. There’s no meeting in October to give time for economic analysis and to avoid overreacting to short-term fluctuations. Conveniently (for bears), September and October are typically weak months for markets. Remember, FTX collapsed in November 2022, bottoming out the crypto market in November-December. The next FOMC rate cut is expected on November 7th, leaving BINANCE:BTCUSD bulls on their own for the next 44 days. However, this cut is not guaranteed. If inflation remains high or increases, the cut could be postponed. Rate cuts are a quantitative easing tool used to support a slowing economy—not one that’s running at full speed. This Friday, the FED will release the PCE index, which could influence their decision. The CME FedWatch Tool currently shows a 55.2% chance of a one-basis-point cut and a 44.8% chance of a two-basis-point cut. In recent letters, we suggested a price increase in late September. Now might be the time to take some profits and wait to see if we can break resistance and establish a new bull trend, or if this is the peak before a downturn. Weekly: BTC closed the week with a strong green candle, slightly above the Bollinger Band Moving Average (BB MA) but still below the highs of late August. The trend remains bearish. Daily: We’re overdue for a correction back to the BB MA, with targets at $61.4k and $60k. The price is hovering around the major resistance level of GETTEX:64K , which is also a key monthly level. The last three days have formed three consecutive dojis, indicating market indecision after 15 days of bullish momentum. Breaking this resistance without first testing the $61.4k support is unlikely. 4-Hour: Weekend price action shows BTC reaching its peak between Thursday and Friday night, pulling back by 2.6% before U.S. bulls prevented further losses. Despite pushing higher on Sunday, Asian bears applied pressure again. Bearish divergence between the price peaks and the MACD-signal line suggests a potential downturn. 1-Hour: At 10:00 a.m. NYC time, BTC posted a big green candle, supported by strong U.S. buying. However, since Monday midnight, the price has been dropping, while the Cumulative Volume Delta (CVD) line remains green and positive. This indicates that despite strong buying pressure, hidden sell orders are absorbing the demand, suggesting: Absorption by Sellers: Large sell orders are preventing the price from moving up. Distribution Phase: Larger market participants may be offloading positions while smaller traders buy, creating an illusion of demand. Potential Reversal: This could signal a potential reversal if the selling pressure eases. Altcoins Relative to BTC: ETH has outperformed BTC, along with NEAR, TAO, APT, AR, RNDR, and AAVE. SUI, BNB, and FTM showed weaker pumps, while SOL appeared the weakest. Bull Case: If the Fed’s two-basis-point cut doesn’t lead to higher inflation and jobless claims continue to rise, it could boost speculative assets. Other central banks around the world may follow suit, increasing global M2 money supply. Bear Case: Until the next Fed rate cut, there’s little to support BTC’s current price against bearish pressure. Fear and Greed Index: Currently at 50.64—neutral sentiment. Overall, the market remains in a delicate balance, while weekly trend is still bearish.
COINBASE:BTCUSD
by EvgenCapital
23/09/24 Weekly outlookLast weeks high: $64,141.61 Last weeks low: $57,492.86 Midpoint: $60,817.24 Pattern continuation for Bitcoin from the week that came before last, steady and constant move up +11.55% from week low to high. The FOMC was the big talking point of the week, would the FED cut 25bps or 50bps, the answer was 50bps with a view to stay ahead of the curve. Making the rate of borrowing cheaper incentivises risk-on investment and so we have seen the start of that with the recent move up from the midpoint/ Having said that, typically when the week starts by swing failing the previous weeks high that often leads to a sell off week historically. This would go against the larger macro narrative that the market is turning back bullish after 6 months of chop. If anything this is the perfect test for Bitcoins resolve, if it overcomes a swing fail and continues a move up then the sentiment and macro outlook will be very positive going into Q4. $65,000 is still major resistance and should be the bullish target to flip this week. The altcoin market is starting to wake up, should BTC accumulate around the $65,000 area I'd like to see alts/TOTAL3 playing catch-up. If BTC flips the $65,000 with strength we are off to the races.
by ProR35
BITCOIN chart update !!1D timeframe: The daily chart shows a broad downward trendline forming resistance around $64,000. There is also a projection going downwards to the $51,000-$52,000 support area, which aligns with the green trendline on the chart. This suggests that after this resistance, Bitcoin could experience a more significant correction towards lower support levels. These are possible scenarios based on existing technical patterns. Markets can behave differently depending on macroeconomic factors and other events, so it is important to stay updated. Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
by CryptoSanders9563
2
Trump or Harris?? For BITCOIN the elections only need to happen!Simplistic title over a matter as complicated and important as the upcoming U.S. Presidential Elections this November, but completely true in terms of pragmatism. As this straightforward 1W chart shows, Bitcoin (BTCUSD) isn't just bulletproof when it comes to the elections but in fact it gains extreme buying momentum irrespectively of the winner (Democrat or Republican). Obama in 2012, Trump in 2016, Biden in 2020 all those elections had in common the enormous Parabolic Rally that was initiated exactly after the result. That was on all Cycles the most aggressive phase, clearly showing that investors just need the elections to be over in order to buy risky assets confidently without this macro event in the way. Usually this comes with fresh presidential assurances that the 'market remains strong and we will do everything to keep it this way' etc, so it makes sense. What is equally interesting is that Bitcoin tends to top roughly a year after the elections: November 06 2021 = Bitcoin topped 385 days later November 08 2016 = Bitcoin topped 399 days later November 03 2020 = Bitcoin topped 371 days later This model indicates that even if we can't estimate accurately BTC's top in terms of price, we can time it. And based on the November 05 2024 elections, historically the minimum time it could time for BTC to reach a new Cycle top, would be 371 days, giving us a rough date around the week of November 10 2025! But what do you think? Is Bitcoin about to get the boost of its life after the U.S. elections? And if yes, is it realistic to expect a top around November 2025?? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
52
BITCOIN - Price can break resistance level and continue to growHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some time ago price entered to triangle, where at once made downward impulse from resistance line to support line. Price broke $63700 and $54900 levels, but soon turned around and rose higher than $54900 support level, breaking it again. Next, BTC continued to grow and later reached resistance line of triangle, after which started to decline. In a short time, price fell to support area, thereby exiting from triangle and starting to grow in rising channel. In channel, Bitcoin rose to $63700 resistance level, where at the moment continues to trades very close. Possibly, price can make a small movement below and then bounce up to $67600, breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
7
Rule of 160: History Predicts Start Of Bull-Run This Week!In this analysis I want to take a closer look at previous bull-cycles and Bitcoin's behaviour in the months following the halving. The vertical yellow line is the date of the halving. The purple rectangle is the price action of the 160 days following the halving. We can very clearly see a few interesting similarities between the last three cycles: - The price pumps prior to the halving. - The price trades sideways for 160 days after the halving. - The "real" bull-run starts after the sideways price action has ended. If we follow the Rule of 160, the start of the next big bull-run would be somewhere around 27 september, which is this week! I'm aware that market conditions are different now than they were back then. Still, BTC is a very cyclical asset and has historically followed calendar based trends. There's data to suggest that we have to come down (check my previous posts), but there's also data like this that suggests that the price will increase. Time will tell. Interested to hear your opinions!
INDEX:BTCUSDLong
by FieryTrading
10
Quality Wave Setup Elliott wave analysis, as a method and tool, advocates a bullish outlook as it is difficult to find a substantial bearish alternative within the 73777-49000 range. The Triple Three correction exhibits near-ideal ratios and alternation of wave patterns within. The Triangle in Wave can be considered either complete (minimum conditions are met) or incomplete as long as the price remains below 65000. The latter scenario would be more favorable, as it would provide an opportunity to re-enter the market for this year's final rally.
by Nickonomics
HelenP. I Bitcoin can make small move up and then rebound downHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price a not long time ago dropped to the trend line and at once turned around and rebounded up higher than support 2, breaking it. Next, the price started to trades inside consolidation, where it some time traded near the support level and then rose to the top part of the pattern. Later, BTC rebounded from this part and declined to support 2, breaking the trend line, but soon turned around and made impulse up, thereby breaking the trend line again and exiting from consolidation. After this, the price continued to increase and soon reached support 1, which broke too and started to trades another one consolidation. Bitcoin some time traded near support 1 and then rebounded up to the top part of a consolidation, but a not long time ago it started to decline. So, in my mind, BTCUSDT will rise to the top part again and then rebound down to the support zone, thereby breaking the trend line with the support level. That's why I set my goal at 62100 points, which is located in the support zone. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
3
Bitcoin (BTC/USDT) on daily chart - technical analysis+price preTechnical analysis Bitcoin (BTC/USDT) on daily chart by Blaž Fabjan Price Range: The chart shows a long-term descending channel with resistance at the upper trendline and support at the lower trendline. The price is oscillating between these two levels. Current Price: $63,532.74 as of the timestamp on the chart. Support and Resistance: Resistance is marked around $68,000 to $70,000. Support is marked around $55,000. Indicators Used: RSI (Relative Strength Index): The RSI is currently around 63.05, showing slight bullish momentum but nearing overbought conditions. Stochastic Oscillator: It shows an overbought condition with values above 80, indicating the potential for a pullback. VMC Cipher_B_Divergences: This is a volume momentum indicator, showing possible divergence signals, with some indications of bullish divergence. Patterns and Predictions Channel Pattern: The price has been respecting the descending channel with a number of touches on both resistance and support lines. Currently, the price is near the midline of this channel. Potential Move: In the short term, the price could follow the channel’s structure and retest the support around $60,000 or even $55,000. After touching support, a potential bounce is expected, which could lead the price to test the upper resistance of the channel at $68,000–$70,000. Trading Plan Short-term Bearish Scenario: Entry: Consider entering short positions if the price fails to break the mid-channel line (around $64,000) and shows signs of reversal, with targets around the $55,000 support. Stop-loss: Set a stop-loss just above the resistance line at $68,000. Take-profit: Look to take profits around $60,000–$55,000, depending on risk appetite. Long-term Bullish Scenario: Entry: If the price successfully tests support ($55,000) and shows bullish reversal signals, consider entering long positions. Stop-loss: Place a stop-loss slightly below the support zone ($52,000). Take-profit: Initial target could be the upper boundary of the channel at $68,000, with an extended target beyond $75,000 if the price breaks out from the descending channel. Breakout Scenario: A breakout above the $70,000 resistance with strong volume could indicate the start of a bullish trend reversal. Entry: Consider entering a long trade on the breakout above $70,000. Take-profit: Target $75,000 to $80,000. Risk Management: Given the overbought conditions on the stochastic indicator, caution should be taken with long positions unless a strong confirmation of support bounce occurs. Monitor volume and divergence signals from the VMC Cipher_B_Divergences indicator for additional confirmation. This analysis assumes a near-term continuation of the channel pattern, with a possible bullish breakout in the longer term if price action shows strength at key levels.
Long
by elfabiiani
Bitcoin BTC price trading plan to the end of 2024Last week was full of macroeconomic events, we write about it at previous idea The cryptocurrency market took them positively and grew on rumors. There is a legendary quote: “Buy on rumors, sell on facts.” Therefore, we do not rule out that this week OKX:BTCUSDT and the crypto market in general may plunge into correction. Still, we need BTC.D - 57.7% and USDT.D - 5.50% to fall significantly lower for the market to really “come to life” Fear and Greed Index (neutral) - 50 As long as CRYPTOCAP:BTC price is above $57,000 , it is globally in an upward trend and at the same time in a protracted consolidation since May 2024. Perhaps a confident exit from this consolidation will take place in November, after the US elections on 05.11 and the next Fed rate cut on 07.11 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
#202439 - priceactiontds - weekly updateGood Day and I hope you are well. bitcoin Quote from last week: comment: Doing the weekly chart this week. Clear contraction visible and there is no magic to see here. I won’t make up stuff where there is none. Market is clearly confused where it wants to go and no side has an advantage. The triangle will break out soon again and I can only see btc falling below 49000 if the broader markets weaken considerably. comment : Bulls still not managed to get above 65000 and unless that changes, we are in an ascending triangle now. Trading range, ascending triangle, it does not matter, you trade them the same. Clear support and resistance, buy low and sell high until it stops working. I favor the bears to touch the lower trend line around the daily ema but as of now they are not doing enough and market has formed 4 consecutive doji’s. You don’t have to trade this. Wait for a better pattern. current market cycle: trading range / ascending triangle key levels: 49000 - 65000 bull case: Bulls need prices above 64500. That has not changed since last week. If they fail again, market will likely test down below 55000 again. If they could get it, market is free to trade above 68000 to test the bear trend line from the ath. Invalidation is below 62400. bear case: Bears want a pullback to test the lower bull channel trend line and daily ema around 61000 where I expect more buyers than sellers to appear. Market then probably has to move more sideways before we can get a breakout below the bull channel. This is a clear trading range for 2 months and odds favor the bears to stay below 65000 and get a pullback. Don’t over analyze 4 consecutive doji’s. Look at a higher time frame and get a sense of what the market is trying to do. Right now it’s trying higher again but failing. It can only go on for so long until one side give’s up. Invalidation is above 64500. outlook last week: short term: Neutral. Under 60000 I slightly favor the bears to trade down to 55000 but need to see better selling than on Saturday/Sunday. → Last Sunday we traded around 59800 and now we are at 63400. Meh outlook. I changed it on Monday since bulls printed a strong bull bar above the pullback. short term: Neutral. I become a bear once bears print below 62400. Max bullish above 65000 with follow through. medium-long term - Update from 2024-09-08: If bears can close the bull gap for good, we could see 40000 this year. If not, more likely we will see 65000+ again. Right now we are in a 2 month trading range. current swing trade: None chart update: Added the bull channel, wave count and possible two legged correction.
CRYPTO:BTCUSD
by priceactiontds
Hellena | BITCOIN (4H): Long to resistance area 64879.Dear colleagues, after analyzing bitcoin I came to the conclusion that the price is in an upward impulse, but the correction “2” is not yet completed or almost completed. I believe that after reaching the area of 56398 the price will again rush in an upward movement with the goal of reaching the area of 64879 in wave “3”. Manage your capital correctly and competently! Only enter trades based on reliable patterns!
BINANCE:BTCUSDLong
by Hellena_Trade
12