BitCoin BTC/USD (Is $40K the good resistant?)Updated View on BitCoin BTC/USD (26 July 2021)
Follow our analysis that was written ont he early July.
BTC price goes the level of 38K that we expected.
Now 40K will be the strong resistant but soon or later, it shall break UP stronger.
DYODD, all the best and read the disclaimer too.
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Bicoin
BTC breakdown targetsBTC price action along descending channel. Self explanatory... bull trap bear trap bull trap bear trap... don't get trapped... Although it really just a liquidity grab long term holders buying up supply just wait for momentum reversal if long. If short top red line has been a great place to short....Price action has been getting less volatile and trading within a tighter range... looks to be a big move coming..... Check funding rates on perpetual contracts and pricing compared to spot to get a better idea of reversal..This is not investing advice... don't get rekt.. I am guessing at least a bounce to 50 ema around the 46k-48k range.... but who knows?? haha only the market is correct just try to be correct with it. Happy trading...
BTC: Where is the base: UpdateThis is an interesting confluence.
I've been trying to narrow down where exactly BTC will land as the next local bottom comes in.
In my view, BTC is currently printing a second seven-wave crash structure, completing an ABC correction in what, for me, is Wave 6 down in a seven-wave ascent to its blow-off top at 80k.
$41,496 has been emerging for me as a key line of confluence (see linked analysis).
But here I thought I would reverse engineer the Fibonacci sequence and see what $41,496 reveals if I place it both on the 0.786 in a downside direction, and the 0.618 in an upside direction.
We know where the last local top is, at $64,977, so where is 0 and 1 in these Fibonacci sequences?
Interestingly enough, 0 in the upside direction for the 0.618 is precisely on the low of 11 March 2020. So this moment marks a return to the golden pocket of the entire bull run to date.
1 for the downside direction is on $35,182, right in the middle of the bull flags of the January correction, and aligning with the 34 EMA on the weekly.
If BTC does in fact bottom on $41,500, the April-May correction would have come in at -36%. This would align, for me, with the seven-wave structure, as Wave 6 down should be deeper than Wave 1 or Wave 3. BTC should then embark on Wave 7, within which the seven-wave structure is repeated.
Wave 7 should be most parabolic of the seven-wave structure.
NOTE: None this assures that 41.5k will be met. I could be wrong, and BTC may go deeper, or not get there at all. It's just the level I'll be looking out for.
Feel free to comment.
comingsoon bitcoin 10/000 $
w is known as bat movement, but the wing of this bird is the starting point. The second wing does not have the weight of this wing, so the letters M will be formed, but this bird can not fly.
As a result, the unprecedented fall of Bitcoin will soon be on its way to the 10,000 channel
Elliott Wave Analysis Bitcoin 30 March 2021 #2If BTC stays below its previos ATH, it could form a very clear and complete bull cycle Elliott Wave pattern.
Maybe as fractal of bigger wave pattern (purple).
Crossing the 50 day EMA the coming days, would be a confirmation of the pattern and we see maybe a test of the 200 day EMA.
Let`s see what going on tonight.
Bitcoin - Long - Set to Challenge All Time HighsBitcoin is set to challenge all time highs above $60,000 once again on the announcement that Visa will enable payments to be settled in cryptocurrency. We believe the cryptocurrency will continue it's strong upward momentum and has an RSI of 61 indicating it is not yet in overbought territory so could potentially reach the psychological $100,000 level at some stage this year.
Bitcoin Important Zones: It Can Rise But Must Over Come TheseTraders, These are the zones and levels which can be important in bitcoin's journey upwards. If these zones and levels are not broken then it can fall further down.
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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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