1-BTCUSD
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Bitcoin (BTC) • 25k Range UpdateHi gents.
Our sub 30k range quest still going with irregular volumes and a lot of shenanigans price action on the intraday as it trades closer to the 25k
In the video talk about a data point that is not yet looking great and why we should be cautious in being bullish on these lows when taking it in consideration.
Aa usual we go quickly through some useful data points I like to pay attention to in my weekly market commentary.
Bitoin Macro Look - turning pointMacro levels discussed: bearish scenario
1: wave 3 bottom at 15k, 4th wave 30k (where we are now) and looking for 10-13k for 5th wave/ A. -> wave B corrective move up and the C move below 10k
bearish scenario 2 and most likely imo at this time: 5th wave/A was the 15k B wave was the 30k (where we are now), and C wave down to 7-10k
Bullish scenario in the 3rd wave of 1st major move up from the 15k low and looking to hit atleast 50k.
30k,25k and 21.5k are my major resistance and support levels at this time
Other question I have right now is has bitcoin and the market broken away from each other? Bitcoin is floundering at this point while S&P still pumping. I personally still think they are correlated. If bitcoin has hit a top, I think S&P could be late to the game and is still in the range under 4550 to have a B top and continuation downwards. On flipside bitcoin can still pump here as SP is.
not financial advice
SEC's Cryptos Classification Impacts Binance & Triggers OutflowsHey all, finally back with a new video
Binance is facing hard times with SEC sues and by money outflow. According to our data, last 24 hours, Binance net outflow is about $392 mln, so let's keep an eye on the stability of cryptocurrencies.
There were BTC outflows from Binance following recent events, however, it's encouraging to note that the movement of Bitcoin to private wallets indicates that retail investors are choosing to hold onto their Bitcoin rather than keeping them on exchanges, potentially facilitating exchanges for fiat or alternative cryptocurrencies.
Keep in mind that SEC has classified 46 cryptocurrencies as securities, which has significant implications for investors, exchanges, and the crypto industry as a whole. Trading these securities without proper registration may result in penalties for selling unregistered securities, thats why Binance is facing legal actions
More importantly Bitcoin is not included in this list of 46 cryptocurrencies by the SEC. It focuses on the specific cryptocurrencies that have been classified as securities by the SEC, and Bitcoin is not among them. Bitcoin is often considered a decentralized digital currency rather than a security. Therefore, trading Bitcoin does not fall under the same regulatory requirements and potential penalties as trading securities. SO I think thats one of the reasons why BTC is doing quite well compared to alt coins.
However, it's important to note that regulations may vary across different countries.
From an Elliott wave perspective I bitcoin supports at 25k, followed by 22k. On ETH I see very important 1600 area.
Grega
BTC, some path idea rough draft.If you find this information inspiring/helpful, please consider a boost and follow!
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Still working this video thing out. Going to be using TV as a rough draft. So uploads on other places will have the corrections and will be cleaned and scrubbed.
Bitcoin -> Don't Miss The BullrunHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that as we are speaking Bitcoin is approaching a quite obvious previous weekly resistance area which is now turned support at the $25.000 level.
You can also see that overall market structure is still bullish, Bitcoin also created a long term inverted head and shoulders since June of 2022, so I am now just waiting for a retest of the neckline at the $25.000 level and then I do expect the next bullrun to start from there.
On the daily timeframe you can see that over the past couple of days, Bitcoin has been creating an obvious falling wedge formation which is always considered a bullish continuation pattern, so I am now just waiting for a breakout above the resistance trendline before I then also expect a daily rally to retest the $30.000 psychological resistance zone.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
BTC 0 or hero? 📈 Chart Analysis:
falling wedge: Top tip wait for breakout and retest of the AVWAP before taking a long, however we did get an engulfing candle on the reaction from the 150ema so i have gone long already trying to front run patterns is not the best thing to do so be cautious if you are to do the same!
We got the retest of the Head and Shoulders resistance in prep for the latest sec vs binance news which took us to out first target 150EMA: top tip play any SHORTS super carefully here as the reaction from the 150 was extremely bullish but know we could still see out lower avwap target currently at the 18k area 😉
additional info!
Currently in a Stage 3: where we look for Bullish continuation patterns (falling wedge) and/or topping patterns Head and shoulders
OBV still in a stage 1 and looking weak!
🔔 Risk Management:
Adjust your position size based on your risk tolerance and use proper risk management strategies, such as trailing stop losses, to lock in profits as the price moves in your favor.
⚠️ Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.
BTCUSD, D1 | Could we see a bounce?Today we're looking at BTCUSD on the D1 timeframe. We can see that there's a nice bit of bullish momentum with the ascending support, Ichimoku cloud and an overlap support. Along with that, there's a nice 50%Fiboancci retracement too.
A bounce from here could see prices head up to the recent swing high resistance of 30700.
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Bitcoin (BTC) • Chop with unfavourable funding rates Hope you had fantastic weekend guys.
Ok I managed to make a more shorter video.
So while we are trading under 27.2 things are not looking great specially with unfavourable funding rates as discussed.
In the video I walk through futures data, order-book data and price chart.
Remember is not about being right but about to use set of heuristics according to our time availability that allow us to define criterium set of rules to manage risk.
Don't forget to like and sub.
Bitcoin -> Look At The Daily PatternHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin recently perfectly retested and already rejected a quite nice previous weekly support zone which was now turned resistance at the $30.000 level.
You can also see that there is a next weekly support zone coming in at the $25.000 area, so I am now just waiting for Bitcoin to retest this next demand level before I then do expect another weekly rally towards the upside.
On the daily timeframe you can see that over the past couple of days Bitcoin has been forming a very obvious falling wedge formation which is normally a bullish (continuation) pattern, so I am now just waiting for a breakout above resistance trendline and then I do expect another daily push to retest the $30.000 area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
BTC USD SOONBTC USD Soon will drop to $25000, so basically it will be our Entry point I made a good video of showing you guys my prediction for it Thanks for watching my vid!
Black swan event or pump? $BTC update!📈 Chart Analysis:
Potential falling wedge: Top tip wait for breakout and retest of the AVWAP before taking a long
Are we retesting the Head and Shoulders resistance in prep for a "Black Swan" event that will take us to our low target?: top tip for an early SHORT position you could take the short now and place a stop above the highest high of this retest OR on the falling wedge break out area ;)
additional info!
Currently in a Stage 3: where we look for Bullish continuation patterns (falling wedge) and/or topping patterns Head and shoulders
OBV still in a stage 1 and looking weak!
🔔 Risk Management:
Adjust your position size based on your risk tolerance and use proper risk management strategies, such as trailing stop losses, to lock in profits as the price moves in your favor.
⚠️ Disclaimer:
This analysis is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions.