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Bitcoin-btcusd-btc

BITCOIN This is the last barrier standing before going parabolicBack in May we first showed on this channel the unique Bullish Cross that the KST indicator was about to make and how the previous three clear (July 2020, January 2016 and June 2013), all have kickstarted major Parabolic Rallies. The Bullish Cross was completed in late May, BTC rose again in June on a new yearly High but failed again to break above its 3W MA50 (blue trend-line). This is the last Resistance standing on a Cyclical basis as in the previous Cycles once the 3W MA50 broke, it turned into Support (exception of course the COVID flash crash in March 2020) that guided the price into the Bull Cycle's final parabolic rally. But what do you think? Is the MA50 the last barrier for Bitcoin before turning it into Support and breaking out parabolically? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸
INDEX:BTCUSDLong
by TradingShot
23
Bitcoin: Waiting For Higher High.Bitcoin is in the process of establishing a higher low formation around the 29,300 area on the daily chart. Higher lows often lead to higher highs. In this seasonally slow time of the year, a major catalyst will have to come along in order to create enough momentum for a higher high to be realized. In this context, a reasonable level to expect for a higher high is the 32 to 33K area. I have not made any adjustments to the swing trade signal that I shared from 29,600 recently. The adjustment I anticipate is moving the stop to break even at the appropriate reward/risk ratio. As the month continues, I am anticipating the next two weeks to be the PEAK of SLOW season. Again this is a function of average volume. If you must trade in such an environment, it is imperative to follow a strict set of rules. Even this will not fully protect you from the noise, but if you can minimize mistakes or stop outs, you are more likely to preserve your capital and CONFIDENCE. This alone will put your in a better position to capitalize on the opportunities that will appear when the markets get back to normal volume. Profit for the retail trader comes from the MISTAKES of other traders. The less experience, the more of a chance of mistakes. Who do you think you are up against in this current environment? Mistake making Tik Tok content consumers or pros/algos? Pro poker players know to avoid tight tables, and know that highest probability of profit comes from prime time (drunken tourists). I realized a long time ago that sitting in front of a computer for hours WAITING for criteria to lines up is not productive. Human nature in terms of boredom, confirmation bias, and other psychological factors can hinder overall performance, ESPECIALLY in low volume environments. With the technology that is available today, I figured there had to be a better way and that is what lead to the development of my trade scanner. The thing is, if you don't know what specific market inefficiency you are looking for, a screener or automation won't help anyway. The scanner waits for MY criteria to be met and then produces a raw idea. The more advanced version even generates stop loss and take profit prices at the time of notification. While it doesn't produce a 100% win rate (nothing can) it certainly helps me to be much more selective without having to spend time evaluating charts. Less trades is MORE in this game, especially for the next two weeks. Like I wrote earlier, profit comes from mistakes. These mistakes are rooted in human nature. Human nature is our great obstacle to success in this game. If you can't get over yourself, you will only serve as a profit source for others. The first step is to stop consuming the information EVERYONE else consumes. Stop assigning value to the WRONG information as a consequence of conventional logic. Learn how the game works from a not so obvious level, like micro structure, price action, momentum, market efficiency, etc. If "news" is your source for decisions, let me know because I will be more than happy to do the opposite. Thank you for considering my analysis and perspective.
EIGHTCAP:BTCUSDLong
by MarcPMarkets
5
BITCOIN rally starting and next Top expected at least $200k!Bitcoin (BTCUSD) has made a 1D Double Bottom and seems to have priced the final low before a new rally that will take it to a new yearly high. The price is already on a 15 day high and it is an excellent time now to look at potential highs for this Cycle. As we've done in the past, we will rely on the long-term time-frames for a more meaningful illustration of BTC's historic Cycles. Those are patterns that have repeated themselves over and over again, with some variations of course based on the current market conditions. ** The Fibonacci Channels ** Right now the price is above the 1W MA50 (blue trend-line), on a 8-month rally that hasn't been anything like short-term Bear Cycle rallies. The previous Cycles topped near Fibonacci trend-lines of prior Cycle Channels. For example the December 2017 Cycle Top was formed just below the bottom (Fib 0.0) of the orange Fibonacci Channel that started from the previous Cycle bottom. The November 2021 Top was formed just below the middle (Fib 0.5) of the blue Fibonacci Channel. This could be a +0.5 Fib progression and in that case the Top of the current Cycle might be just below the top (Fib 1.0) of the black Fibonacci Channel that started on the December 2018 bottom. ** The Halvings and $200k ** The 1.0 Fib at the time of (the next) Halving 4 (April 2024) will be above $200000, and as we know after each Halving, Bitcoin posts the most aggressive (parabolic) rally of the Bull Cycle. So that leads us to assume that the Top of the current Bull Cycle will be at least $200k. To give a relative sense of pathing, we have plotted the 'post Halving rallies' of the previous three Cycles on the current Channel starting on Halving 4. Do you think that we will see $200k by 2025 Q3? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
30
BITCOIN 3D Golden Cross just formed! Road to ATH begins!Bitcoin (BTCUSD) just completed a new Golden Cross pattern, this time on the 3D chart. Naturally the price is trading above both the 3D MA50 (blue trend-line) and 3D MA200 (orange trend-line). In the previous 2 Cycles, once the Cross took place, the 3D MA200 turned into a Support (technical exception of course is March 2020 and the COVID crash, which is though a Black Swan event, the price would have continued upwards if it wasn't for that). With the 3D MA50 guiding the price, the next stop for the uptrend that started was the All Time High (ATH). Due to the Libra euphoria and other positive fundamentals regarding adoption that delivered the 2019 3D Golden Cross faster, it took BTC around 100 days more to reach the ATH in 2020. It could be a fair estimate that Bitcoin would have reached the current ATH ($69000) by around this time next year. But what do you think? Is this final Golden Cross the ticket to a new ATH? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
23
BITCOIN Amazing historic symmetry targeting $49000 in NovemberThis is a break-through analysis on Bitcoin (BTCUSD) on the 1W time-frame that we posted a while ago but couldn't look more relevant today and can accurately explain the low consolidation of the last few weeks. It compares the current Cycle with that of 2014 - 2017. ** Amazing Cycle symmetry justifies current consolidation ** As you see there is so far an astonishing symmetry between the two, with the current price consolidation, after almost hitting the 0.5 Fibonacci retracement level, resembling that of late February - early April 2016. For the Fibonacci calculations we have used the price top and bottom as suggested by the 1W RSI, which is the backbone of the analysis. This indicates that the Cycle Top (on RSI terms) was on the week of April 12 2021 (and not Nov 08 2021) while the Cycle Bottom was on the week of June 13 2022 (and not in November 2022, which was in the aftermath of the FTX crash). ** The Phases of the Cycle ** So far the three Phases have lasted almost the same time. We are now half-way through Phase 4 (green), which in 2016 lasted for 28 weeks and on its end hit the 0.786 Fibonacci level. As a result, this is a highly probable target, with the 0.786 Fib being at $49000 and the 28 week span ends on November 13 2023. See how similar the 1W RSI fractals are between the two, forming a Triangle pattern with top and bottom on the exact same values. ** Halving, 1W MA50 and conclusion ** Basically Phase 4 is the first bullish attempt of BTC within the new Bull Cycle, after Phase 3 (yellow) which is the bottom of the Bear Cycle and the first Accumulation period. Phase 4 is essentially the prologue of the market before the parabolic rally and the introduction to the Halving event. The next Halving is expected in April 2024. Based on this symmetry that is holding very strongly so far, BTC should have hit at least $49000 by then. We need to point out that from Phase 4 onwards, the 1W MA50 (blue trend-line) has turned into the Bull Cycles absolute Support level. Pull-backs near it are technically strong buy opportunities. With the price having almost filled the 0.5 Fibonacci gap, do you think BTC will finish Phase 4 in a strong fashion and hit $49000 and the 0.786 level? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
14
BITCOIN Holding key Cycle Support, preparing for 35k and 43k!Bitcoin (BTCUSD) is above the 0.5 Fibonacci Lower Lows trend-line that provided Support numerous times during the previous Cycle but when it finally closed a 1W candle below it (June 06 2022) it started the final bearish sequence. Currently this is very positive for the upside's chances as the price has cleared the 0.5 Fib for more than a month and is currently on the 0 Fib level that closed all 1W candles above it from May 17 2021 to June 28 2021. BTC has managed to close above that for 5 straight week and if it repeats that again, we can see the final two bullish waves to 35000 and 43000 taking place. The key factor for such a price rally is the Higher Lows trend-line since the market bottom which is holding, while the 1W MA50 (blue trend-line) hasn't been re-tested in more than 4 months. In fact, trading below the 1W MA50 was the majority of the Bear Cycle's price action (red arc). Since the closing above it 4 months ago we can argue that this is how the Bull Cycle's price action will unfold (green arc). So do you think that the 0.0 Fib will give Bitcoin the necessary push for the 35k and 43k levels? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
10
BITCOIN On the 1D MA50 again after 5 weeks!Bitcoin (BTCUSD) hit today the 1D MA50 (blue trend-line) for the first time since the June 20 bullish break-out. This is the first level of Support and potential buy entry for medium-term traders. Our condition is that the 1D candle has to close above the 1D MA50 as on the April 24 and February 13 similar bottoms. Those delivered a +11.44% and +18.18% rise respectively. As a result, if the candles keep closing above the 1D MA50 we can see an immediate upside on BTC ranging from 32200 to 34200. Notice also that the 1D RSI hit the bottom of the Symmetrical Support Zone, formed by the lows mentioned above. An additional buy signal, as long as the 1D MA50 is holding. Do you expect that it will hold and pushed BTC to a rebound or a candle close below it can pull the price as low as the 1D MA200 (orange trend-line), which is untested since March 10? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
4
Bitcoin: No Where Fast.Bitcoin continues in its consolidation to no where. Key support is between 29,500 and 28,000. Key resistance 31k. As far as swing trades go, there is NOTHING to do here except WAIT for a relevant test and confirmation within the key support area (see blue rectangle). Maybe that test presents itself this week, maybe not. Most importantly, do NOT waste your time and attention with seasonally uneventful markets. Here are some suggestions and things to consider for times like this. Volume is SEASONAL. That means it generally follows the yearly calendar. Why? Very LARGE groups of PEOPLE follow the yearly calendar in a similar way. This is not an exact science, BUT during the summer months in the countries with the most advanced economies, schools close and what do people do in large numbers? Go on vacation. This trend PEAKS in August typically. Not every summer is the same in terms of magnitude (some may be busier than others in terms of market action) but the general idea is the same. I remember this type of price action as far back as the early 2000s. As a trader, ESPECIALLY day trader, operating during PEAK volume times is important. And I am NOT referring to using a volume histogram which is generally useless. Peak volume can typically be estimated by time. Time of day, time of month, time of year, etc. Low volume environments mean: LACK of follow through, slow grind markets, tight ranges, loose correlations, etc. This is NOT a time to be aggressive. Also ANYONE that uses overly dramatic language during these times either expose their extreme lack of experience OR are just looking to attract attention and convert it to their local currency (MOST frauds do this) or BOTH. People who use words like "pumping" in their titles or analysis are perfect examples. The probabilities (something you can't see) do NOT favor any SIGNIFICANT movements in the current environment. While anything CAN happen, the chances are LOW. That alone is what should SHAPE your expectations and help you to better utilize your attention during these slow environments. So here is what I suggest: if you want to trade, BE EXTREMELY selective. There should be no fear of missing out because there is NOTHING to miss and it is going to get even SLOWER next month (my trade scanner is good at being selective because it WAITS for specific criteria). Also paper trade. Sure it has its limitations, but there is nothing wrong with practicing to observe the robustness of a strategy (or lack thereof). Spend LESS time in front of charts, take time off, especially NEXT month. This is a time to review your strategy, to develop long term investment plans, etc. Familiarize yourself with concepts like efficient markets, how interest rates shape the business cycle and how that affects particular asset classes (sector rotation). What? You're only interested in pressing buttons and making money? If that's you, then the only purpose you will ever serve in this business is as a potential source of profit for those who are passionate about the business, not the money. Thank you for considering my analysis and perspective.
EIGHTCAP:BTCUSD
by MarcPMarkets
12
BITCOIN: Initiating a rally to 34,300 based on the STOCHRSI.Bitcoin keeps the 1D MA50 intact as Support inside the Channel Up since the start of the year. The 1D technicals turned neutral (RSI = 51.000, MACD = 329.200, ADX = 26.387) therefore starting to build up the conditions for buying again. The 1D STOCHRSI formed an LL pattern and the previous three such formations inside the Channel, ended up with rallies of at least +16%. Buy and target this minimum rally projection (TP = 34,300). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
6
BITCOIN Early August will trigger a massive rally!Bitcoin (BTCUSD) has established itself above the 1W MA50 (blue trend-line) making steady Higher Highs since the start of the year and on the week of August 07 2023 is about to complete 60 weeks since the 1W RSI bottom (the Bear Cycle's technical bottom if it wasn't for November's FTX crash). In the last two Cycles, the 60 week mark from the RSI bottom, triggered the start of a strong rally (green Channel Up) that reached +359% from the Cycle's bottom. Every Cycle can be viewed as an Ascending Triangle with the Top/ Resistance starting from the Bear Cycle's first Lower High. On the 2014/ 2015 Cycle the Resistance was at +300%. In 2019 the +359% mark was reached much earlier due to the Libra euphoria. Also the sudden collapse exactly after the 60 week completion was due to the March 2020 COVID crash, a non-technical irregularity. The Channel Up started shortly after regardless, harmonizing the patterns, right when the 1W MA50 was regained. Notice how even the 1W RSI sequences look similar with each other, with the Lower Highs trend-line standing out. In any case on the current Cycle, the +359% mark matches exactly the $69800 All Time High (ATH), while a +300% rise sets a Target at $63000. One thing looks certain based on this model, that the 60 week count is almost up and in August we can see the start of a new rally towards this target zone. Scale your buys accordingly! Buy what do you think? Are you expecting BTC to follow this pattern of the previous Cycles or have a different projection in mind? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
9
BITCOIN Near the 1D MA50, ready for a pump to $34000Bitcoin (BTCUSD) has been consolidating for nearly a full month (since the June 23rd High) and the 1D MA50 (blue trend-line) is only 1000 points away. Since the bullish break-out exactly at the start of the year, BTC has used the 1D MA50 as the short-term Support and more specifically the bounce level before each Higher High. As you see on this chart, the movement since the start of 2023 has been fairly Cyclical, a Higher Highs rejection starts a correction, which when the 1D MA50 breaks (1D candle closes below it), extends towards the 1D MA200 (orange trend-line). This sequence current has the last Higher High to give and we expect to start any time. Our target is $34000. Do you think the 1D MA50 will hold or break? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:BTCUSDLong
by TradingShot
10
BITCOIN Consolidation above the Gaussian starts parabolic rally.Bitcoin (BTCUSD) is establishing a consolidating position above the Gaussian Channel on the 1W time-frame for the 4th straight week. On all of previous Cycles, such break and consolidation above the Gaussian was the start of a parabolic rally. As far as targets are concerned, on the first 2 Cycles, the rally reached at least the 3.0 Fibonacci extension level measuring from the previous Cycle High and the Gaussian break-out level. The last Cycle (no3) reached (and exceeded) the 2.0 Fibonacci extension. Taking this 2.0 Fib 'worst' case scenario, we should be expecting this new rally to reach at least the $160000 mark. Would you agree? Is your expected top higher or lower than 160k? 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! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
2
Bitcoin: Finally time to break 31k? Bitcoin appears to be showing signs of retesting the 31k level once again. Should it successfully surpass this level, there is a possibility of a swift surge towards 31.5k. The current price action is displaying constructive patterns, indicating a potentially bullish momentum. However, in the event that the price falls back below the 30,250 level, it would be advisable to adopt a more cautious approach and wait for further market developments. NFA
COINBASE:BTCUSDLong
by RF_Trading
Bitcoin: Lingering Strength.Bitcoin has been in tight range between the 29.5K support and 31K resistance for about a week. This can be a confusing area for some, especially those who think this is the "top". In this analysis I am going to lay out a couple of points to consider. Again this game is about interpreting and adjusting to new information as the market provides it, NOT to get stuck on irrelevant opinions. Interestingly enough my Trade Scanner has generated 4 long signals for Bitcoin which have all offered some amount of profit, while at the same time, it is generating sell signals for some of the popular alt coins like MATIC, BNB, etc. What is going on here? This is a typical sign of relative weakness. It means that IF Bitcoin retraces further and takes out the 29.5 to 28K support zone (see blue square on chart), then these alts are likely to outperform on the short side. IF Bitcoin breaks the 31K resistance on the other hand, the shorts are not likely to perform. Since Bitcoin is still in a broader bullish trend, it is makes more sense to bet on the bullish break out until it proves otherwise. I often remind followers that counter trend signals or conflicting situations like these should be considered with LOW expectations or not at all. Bitcoin is the leader, like the S&P500 is for stocks. What about the Bitcoin hesitation at 31K? Isn't this a bearish sign? Not in the context of a broader bullish structure. Weakness is often asserted QUICKLY around resistance levels. When price lingers around a resistance level, it is often a sign of strength. In terms of order flow, what typically happens in these situations is lots of shorts pile in, mistaking price hesitation for weakness. IF there is any bullish catalyst that comes out of no where, these shorts are going to contribute significantly to the bullish break out since they will get squeezed out of their positions. I'm not biased, I am just describing the situation that probability tends to favor based on other structural factors such as trend and levels. How am I going to trade around this situation? For one, I am not interested in swing trades in the 31K area long or short. On the swing trade time frame and for Bitcoin in particular I prefer high probability signals on the side of the broader trend (and I still don't short Bitcoin). This means I have to WAIT for a test of the 28K support zone. If the market breaks out without such a test, then I miss the swing trade. I'm okay with that. As far as smaller time frames, I am open to day trades if I see signals in the 30K area (like the trade scanner has been generating). The thing is, expectations have to be VERY low. That means if I can get away with 200 to 400 points, that is a win. Whether the market breaks out or not is irrelevant when I work with smaller time frames. Having an objective mindset improves your chances of a consistently positive performance NOT a GREED mindset. One of the most common beginner mistakes I see is trying to maximize profits. To play this game successfully, you have to learn how to maximize PROBABILITIES for the LEAST amount of RISK. By letting greed shape your decisions, you only set yourself up as profit potential for someone else. Thank you for considering my analysis and perspective.
EIGHTCAP:BTCUSD
by MarcPMarkets
21
Crypto Analysis - Bitcoin Monthly Price Action FVGWith so much indecision in the market the sentiment has been forked with Bulls and Bears ... the highest since 2003 according to bloomberg's analysis on the S&P targets for analysts High vs Low targets - This general sentiment goes thru out markets that just follow an ebb and flow till something happens in that particular sector. A good example of this is Nasdaq bullish movement due to mostly AI boosting tech into new highs. Or the banking industry affecting the Dow. With that said , Crypto looms with much uncertainty as nations adopt digital currency formed by legislations in their respective localities. My personal standpoint is from a thesis that price action moves to liquidity and inefficiency. Crypto bull runs left much inefficiency and liquidity sits at key areas on the Monthly Timeframe: The Annual Range midpoint for 2022 is noted at 31850 Orderblocks from June 2021 Mean threshold for Open to Close - 36168 Range midpoint 35061 A Fair Value Gap is formed for the month of May 2022 Quad levels for this area: High - 37590 upper quad - June 2021 OB mean Threshold Consequent Encroachement - Near June Close 2021 Lower Quad - 33370 Low, IOFED = ’22 Annual Range Midpoint COINBASE:BTCUSD BINANCE:BTCUSDT BINANCE:BTCUSD
COINBASE:BTCUSD
by ThisIsJA
BTCUSD Is accumulating buyers for the next jump to 40k.BTCUSD has been trading sideways for nearly the last 2 weeks. The long term pattern is a Channle Up since the start of the year and this appears to be the accumulation phase that technically precedes the Higher Highs. Trading Plan: 1. Buy on the current market price. Targets: 1. 40000 (Gap 3 from the Bear Cycle). Tips: 1. Every Higher High on this Channel Up has filled a Lower High gap from the 2022 Bear Cycle. The next one is marginally over the 40000 level. Please like, follow and comment!!
INDEX:BTCUSDLong
by TradingBrokersView
12
Bitcoin - Possible paths to 31k3 days ago BTC hit 200 weekly MA @ 25k I'm concentrating now my view on the 31k mark, which represents the 1.618 fib of this precedent move AND a big support zone from the retracement from May-July 2021 From here we can see 2 possible ways : - A breakout of the weekly 200 MA (25K) and a move up as fast as the precedent one to 31k, to maybe meets the line of the channel we are actually in since 2 years - Some retracement from here between 17k5 and 20k5 before, following the fib retracement lines. After this we should see some struggle at 25k because the line of the channel will have moved to this area therefore the weekly 200MA will constitute an even bigger resistance 16k MUST HOLDS
BITSTAMP:BTCUSDLong
by Investwine
BITCOIN is showing the way to Gold. Lift-off soon.For a little over a year (since April 2022), Gold and Bitcoin have been on a remarkably tight positive correlation as when one rose or declined, the other followed. We see an incredible surge in the price on Bitcoin in the past week with Gold however failing to follow, declining instead, breaking for now this long term correlation. As the market lacks the fundamental reasons for Gold to decline more on the long term (the Dollar is on a downtrend while the US10Y has hit an 8 month Resistance), we expect the correlation to return and for Gold to follow Bitcoin's lead higher. Trading Plan: 1. Buy Gold on the current price. Targets: 1. 1975 short term (first Resistance). 2. 2050 long term (final Resistance). Tips: 1. The RSI (1d) on Gold is on a Rising Support dating from July 20th 2022, almost 1 year. We can't display this on this chart, but if it holds, it empowers the buy signal given. Please like, follow and comment!! Notes: Past trading plan:
INDEX:BTCUSDLong
by TradingBrokersView
7
Bitcoin (BTCUSD) Has Started the Next Bullish LegShort term view in Bitcoin (BTCUSD) from November 21, 2022 low is in progress as a 5 waves impulse with extension (nesting). Up from November 21, 2022 low, wave (1) ended at 25270 and dips in wave (2) ended at 19569 as the chart below shows. The crypto-currency has extended higher in wave (3) with internal subdivision as a 5 waves impulse. Up from wave (2), wave ((i)) ended at 26533 and pullback in wave ((ii)) ended at 23940. Bitcoin has extended higher in wave ((iii)) towards 29380, pullback in wave ((iv)) ended at 27833. Final leg wave ((v)) ended at 31035 which completed wave 1. Pullback in wave 2 ended at 24756 with internal subdivision as a double three Elliott Wave structure. Down from wave 1, wave (a) ended at 26981, wave (b) ended at 29851, and wave (c) ended at 25800. This completed wave ((w)) in higher degree. Wave ((x)) rally ended at 28452 with internal subdivision as a zigzag. Up from wave ((w)), wave (a) ended at 27666, pullback in wave (b) ended at 25878, and wave (c) ended at 28452. This completed wave ((x)) in higher degree. The crypto currency extends lower in wave ((y)) with internal subdivision as a double three. Down from wave ((x)), wave (w) ended at 25350, wave (x) ended at 27388, and wave (y) ended at 24756. Near term, as far as pivot at 19553 low stays intact, expect Bitcoin to extend higher.
BITSTAMP:BTCUSD
by Elliottwave-Forecast
1