BTCUSD: Shocking Similarity From Last CycleHello all,
The market has been silent for nearly the past month. BTC & ETH broke out of their ranges over the last week. Many people were caught off guard from the break of 30k that occurred yesterday. This was heavily predicted and expected based on many indications.
Simply put, many indications pointed to the market being in a very similar spot as April 2019 (the month before BTC broke 6k and rallied to 14k). One of the main technical indications that led me to believe BTC was going to break 30k was the fact BTC was consolidating under a large resistance for nearly a month.
This was not a usual pattern based on BTC's price history. Essentially BTC printed 3 dojis on the 1 week chart (under a massive resistance). Many expected BTC to not be able to break that massive resistance level as it didn't have any large pullbacks since its swing low at 19.5k
However, I looked at this in terms of supply & demand. One of the most powerful ways to identify strong supply & demand zones are by looking for a strong price reaction from that level.
Example Chart:
The zone I have been referring to is from 28.5k - 30.1k. As seen above, this zone has been respected for a long time. Each time price bounced hard off this zone, it continued to trend higher for some time. When BTC came back down to this zone in May of 2022, price did not have any hard bounce off the zone, and fell -50%, proving the demand was lower.
Fast forward to today, and we can flip this logic and look at this area as a supply zone. When BTC reached this level last month, we never saw a hard rejection from this zone, proving the supply (liquidity is another way to look at it) was higher. Now after a month of consolidating below, BTC is above the zone.
Now we ask, what is next? Well, as seen in the posted chart, BTC is showing very similar price action as to April/May 2019.
A major level was respected each cycle (shown in gray). Both times, price broke this level, dropped -50%, bottomed, came back to the gray level, broke the 200MA, consolidating below the gray level for a few weeks and then broke it.
Along with a few other technical points, BTC seems to have more fuel in the tank to push price higher. If at anytime BTC falls back under this zone, we cannot consider any bullish thesis.
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1-XBTUSD
Bitcoin Analyze (Short Term,15-minute Time Frame,04/13/2023)🌊Bitcoin seems to have passed its fifth impulsive wave in the 🟡Price Reversal Zone(PRZ)🟡.
To confirm the count, we have to wait for the uptrend line to break down.
If the uptrend line breaks downward, Bitcoin can touch the support line.
Bitcoin Analyze ( OKX:BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,04/12/2023)!!!It seems Bitcoin was able to make a Head and Shoulders Pattern near the 🟡 Price Reversal Zone(PRZ) 🟡. So that there is a noticeable Regular Divergence(RD-) between the two shoulders.
I expect Bitcoin to drop to at least the support line.
Bitcoin Analyze ( OKX:BTCUSDT ), 15-minute time frame ⏰.
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What happens when Bitcoin touches $30,000❗️❓🤏Bitcoin is still moving in the 🔴resistance zone ($ 32,400-$ 28,120)🔴 also, several times, Bitcoin is attacking the Important Resistance line.
If you want to understand the importance of the important resistance line, look at the following post.👇
In addition, the Fibonacci cluster near the number of $ 30,000 is very compact.
Also, the growth of Bitcoin happens with the Regular Divergence(RD-) between the price and the RSI Indicator, and it is expected that the RSI will reach 70% in the daily time frame and fall again.👇
So, I expect Bitcoin to close to $ 30,000, which is also a round number, after a small correction and then move toward the resistance line. In general, I don't expect to break the heavy support zone with just one test on the daily time frame; at least a major pivot should be created on the heavy resistance zone, so Bitcoin needs to correct and attack the heavy resistance zone again.
We have to wait until Bitcoin fills the 🔵CME GAP($ 28,720-$ 28,265)🔵.🤔
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰.
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Bitcoin (BTCUSD): More Growth is Coming ₿
Bitcoin was accumulating for 3 weeks within an ascending triangle formation.
The price set multiple higher lows and equal highs.
The neckline of a triangle was finally broken yesterday.
The broken neckline and a trend line now compose the zone from where I would recommend
buying Bitcoin.
Taking into consideration that we are trading in a strong bullish trend, I believe that probabilities will be high
that the market will keep growing.
Next goal - 31300
❤️Please, support my work with like, thank you!❤️
60 thousand dollars.Good evening!
Our group reached a milestone of 70 members last night, and I'm excited to share a bullish idea with the world.
Bullish momentum continues to build as increasing pressure mounts on the financial world.
For many, Bitcoin appears to be "the way out," or so the simple narrative goes.
However, I'm not here to discuss narratives; I'm here to analyze market structure.
The market seems poised for a breakout, and I believe it could be massive.
While most people expect a 32k 🎯,
my target was 39k since last august.
I've raised my target to 60k as of this evening for this particular bull case.
It is only after reaching 60k that I predict Bitcoin will fall to revisit the November 2023 lows.
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Key levels:
🔨 60k (Target)
🔺 10k (Support)
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Stay vigilant and trade wisely!
Bitcoin Analyze (Short Term, 1-hour Time Frame,04/08/2023)!!!While Bitcoin seems to be completing Wave B, or even past it, there is a possibility that wave B may follow higher Fibonacci levels or even form a contracting triangle pattern.
At the same time, Bitcoin managed to form a symmetrical triangle pattern in the RSI indicator in the 4-hour time frame, which can be considered as a key for the next big move.👇
I expect Bitcoin to decline toward the 🟢support zone (26,980-26,580)🟢 after breaking the support line.
❗️ Note ❗️: If BTC goes over HKEX:29230 Scenario will change.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
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Bitcoin will fall by Contracting Triangle❗️❗️❗️As I said in the previous post, it seems that the corrective structure of wave B can be in the form of a contracting triangle.
Bitcoin managed to break the lower line of the contracting triangle, and it also seems to be the sign of the end of Bitcoin's pullback to the broken triangle of the evening star candlestick pattern.
After breaking the support line, I expect Bitcoin to go down toward the 🎯targets🎯 I have specified on the chart.
Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
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Bitcoin Analyze (Short Term, 30-minute Time Frame,04/05/2023)!!!Bitcoin seems to be forming a complex corrective structure, and a bearish scenario from the 🔴resistance zone($28,900-$28,480)🔴 is still possible.
Also, it seems that the new corrective structure that Bitcoin started yesterday will be the expanding flat(most common/3-3-5)corrective structure. So I expect Bitcoin to drop at least to the support line.
❗️ I shared the position ➡️ RR=7 with you, but please open a position according to your strategy and don't forget capital management.❗️
❗️ Note ❗️: If BTC goes over $29230 Scenario will change.
Bitcoin Analyze ( BTCUSDT ), 30-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,04/06/2023)!!!It seems that Bitcoin has managed to create a descending triangle.
I expect Bitcoin to fall at least to the support line after breaking the lower line of this triangle.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
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First big SHORT then big LONGBitcoin is doing the same as always, regardless of any news like mount gox selling thousands of btc or other fud news, however its forming a harmonic pattern right now, clear as the blue sky.
It would be risky to tell anyone to short it back into the right shoulder and then using their short profits to open a big long to finally close out at those juicy 30k+ targets, but this is where the money is at #HighRiskHighRewrard.
[Bitcoin] ready to rise againDespite the FTX affair wich caused a new low, I believe BTC is ready to rise again due to bullish technical factors:
- many bullish divergences in W, 3D, D, 4h
- end of the big falling wedge (throwback completed)
- new small falling wedge (dashed lines)
- historical technical supports (Price, MACD, Disparity index)
- blue pill (Hash Ribbons indicator)
- bottom found (Puell Multiple indicator)
- reversal signal (Network Value to Transactions ratio)
Of course, in the event of another major crisis, BTC will fall sharply again.
Bitcoin Analyze (Short Term, 15-minute Time Frame,04/03/2023)!!!Bitcoin is on its way to completing wave C of the zigzag corrective structure.
The end of wave C is most likely in the 🔴resistance zone($28,900-$28,480)🔴 and most likely in the $28,720-$28,890 range.
After confirming the end of wave C, Bitcoin is expected to finally fill the 🔵CME GAP($27,505-$27,465)🔵 and reach the 🟢support zone ($26,980-$26,580)🟢.
❗️ Note ❗️: If BTC goes over $29230 Scenario will change.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Bitcoin Analyze (Short Term, 15-minute Time Frame,04/02/2023)!!!Bitcoin was able to make a head and shoulders pattern on the 🔴resistance zone($28,900-$28,480)🔴.
I expect Bitcoin will fall to fill the CME GAP($27,505-$27,465)🔵(at least).
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Bitcoin 500-Day journeys before each Halving🚌🚌🚌!!!🔹Bitcoin's number of 500-day journeys has been four since the data was posted on the chart. Although the information about the first journey is incomplete, I tried to complete the candles of the first journey by using valid charts.
🔸In general, Bitcoin's 500-day journeys start when Bitcoin has experienced a new All Time High(ATH) before Halving and then started to fall (around -80%) and has formed a price floor. The price floor can follow Fibonacci levels.
🔹Another sign for the start of the 500-day Bitcoin journey is the crossing of the 6-Simple Moving Average (6-SMA) above the 12-Simple Moving Average (12-SMA) (Buy signal).
🔸In general, this signal is seen 274 days before each Halving, so if we want to confirm✅ the start of the fourth journey of Bitcoin, we must wait for the see of the Buy signal by these two simple moving averages. Currently, these two moving averages are very close to each other, and the candle of April can be of great importance. But there is still time to reach 274 days before the 2024 Halving, so if history is to repeat itself again, we will have to wait until June to see this signal.
❗️ Note ❗️: Another point is that at no time in the history of Bitcoin the price of Bitcoin before the Halving has reached its previous ATH price, so we should NOT expect strange prices for Bitcoin at least until the 2024 Halving.
Bitcoin Analyze ( BTCUSD ), Monthly time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
[Bitcoin] Christmas gift 🎁Despite the FTX affair which caused a new bottom, I believe BTC is ready to rise again due to bullish technical factors:
- many bullish divergences in W, 3D, D, 4h
- end of the big falling wedge (throwback completed)
- historical technical supports (Price, MACD , Disparity Index, RSI)
- blue pill (Hash Ribbons indicator)
- bottom found (Puell Multiple indicator)
- reversal signal (Network Value to Transactions ratio)
Of course, in the event of another major crisis, BTC will fall sharply again.
BITCOIN (BTCUSD) Will Keep Ranging ₿
Bitcoin is trading within a horizontal trading range.
Its resistance has been reached recently.
I will expect a bearish movement to the support of the range.
Due to the fact that the markets remain very weak, probabilities are high that Bitcoin will keep consolidating.
❤️Please, support my work with like, thank you!❤️
Bitcoin Analyze (Short Term, 15-minute Time Frame,03/30/2023)!!!It seems that this growth over the last two days was in the form of the wave 5 impulse of Bitcoin (see the post below for more information.)👇
The end of wave 5 on the Important Resistance line (Weekly TF) was placed and was accompanied by a bull trap; Bitcoin's strong reaction to this resistance line shows us the importance of this line.
🔔To confirm the wave counter, Bitcoin needs to break down support line 1.🔔
Probably, wave 3 will fill the 🔵CME GAP($27,505-$27,465)🔵 drop, and end on support line 2.
I expect Bitcoin to reach at least the 🟢support zone ($26,980-$26,580)🟢 again finally.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Bitcoin Analyze (Growth without Volume(RD-))!!!🤔In the last 24 hours, Bitcoin grew by about ➕7%, but this growth was accompanied by a small volume, and the regular divergence(rd-) between price and volume can be seen well in the volume indicator.
Also, the current 4-hour candle is in Price Reversal Zone(PRZ), Time Reversal Zone (TRZ), and 🔴heavy resistance zone ($32,400-$28,120)🔴; I expect this candle to become a ⭐️shooting star⭐️ candlestick pattern.
I shared with you the position with RR=5, but you must jump to the positions with your own strategy.
Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Bitcoin repeating the post-scam cycle MxGox=FTX 1 million bet Bitcoin has been relegated in the last market by a conjunction of events related to the large frauds that have permeated the cryptographic market driven by an insane level of credit available between 2020 to 2021. This has led to a hyperbubble of all kinds of assets, crypto had to go through a purge similar to that of 2014 and with events representatively similar, such as what was the annexation of Crimea by Russia curiously between the dates of February 20 and March 20, 2014, the curious thing about this is not something else that in 2022 the turns of war would start by February 24, 2022. On the other hand, scams like FTX and other scam funds that backed the rise and fall of the biggest scam in crypto history Luna. It was very similar to the fall of MTgox , probably will have an added impact of the same magnitude.
We have to understand one thing the amount of bitcoin out of circulation due to these scams, where bitcoins end up in custody of some government agency, has a strong impact on the circulating supply, because for example still not delivered assets associated with MTgox, after almost 10 years. The current rise is also explained by an ideological discourse framed in what I have given to call the Genesis block strategy, this strategy is really a puzzle and a proposal that is unfolding, that is when you look at the Genesis block, this block has a sentence that proposes a challenge , think about the categories that we conceive through the state, or the central entity and allow to think freely how to manage systems without biased supervision from "
Bitcoin has faced many challenges in the last market due to a series of events that shook the crypto world. These events include massive frauds, excessive credit availability, geopolitical tensions, and ideological debates. All these factors have created a huge bubble in all kinds of assets, which eventually burst like in 2014. Interestingly, some of these events have historical parallels, such as Russia’s annexation of Crimea in 2014 and the war that started in 2022. Another similarity is how some crypto platforms like FTX and Luna turned out to be scams, just like MTgox did in 2014. These scams have taken away many bitcoins from circulation, as they are now in government hands. Some of these bitcoins have been locked up for almost 10 years, like those from MTgox. Bitcoin’s current rise is also influenced by a philosophical vision that I call the Genesis block strategy. This vision is based on a message hidden in the first block of Bitcoin’s blockchain. The message invites us to question our assumptions about governance and to explore new ways of organizing systems without central authority or interference.
The universal basic income and the 15-minute cities are a currency of the same class, since they are complementary, these cities will be for those who are useless in the world of AI that we are entering.