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Bitcoin-btcusd-btc

BTC USD ideaWe find ourselves in a range-bound scenario at the moment. It's important to note that our weekly bias remains bullish. Now, the question arises: will it be supply or demand that propels us out of this range? A key factor to monitor is the movement of the Dollar Index (DXY), as a potential decline could provide us with a clearer direction for Bitcoin. As we navigate these waters, maintaining a vigilant eye on both supply and demand dynamics, coupled with the behavior of the DXY, will aid us in making informed decisions. This kind of professional vigilance allows us to position ourselves effectively in the ever-shifting tides of the market.
COINBASE:BTCUSDLong
by themarketknight
BITCOIN Can it hit $50000 by the end of the year?This Bitcoin (BTCUSD) study is centered around the MACD Bullish Cross that took place on the 1M time-frame two months ago. Since 2014, the 1M MACD has formed a Bullish Cross another 3 times. In all cases the 0.786 Fibonacci retracement level was hit either before (only time the June 2019 Libra hype) or after. At the same time, the Symmetrical Support level from the last Lower High of the Bear Cycle held and closed all 1M candles above it (exception of course is the Black Swan non-technical irregularity of the COVID flash crash on March 2020). This is the position that the recent price decline has brought us to, testing that Symmetrical Support, which has held twice already in June and May 2023. The situation is more like the December 2015 1M MACD Bullish Cross, which took 6 months until it reached the 0.786 Fibonacci level. This time range is completed in 4 months, which means that by December 2023 BTC can reach the 0.786 Fib, which is at $50000. So do you think that this Bullish Cross will have history repeated and make firstly the Symmetrical Support to close the month above it and secondly that the price will reach $50k by the end of the year? Is this the final red monthly candle before a relentless rally? 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
25
BITCOIN Not many opportunities to buy it at a better discount.Bitcoin (BTCUSD) had a noticeable correction recently, bringing the price back to mid-June levels and spreading fear across the market. This effect isn't however until we zoom out to the larger time-frames (1W on the current study) and the multi-year Cycles that we realize that this is a natural technical phenomenon, an early Bull Cycle correction after the first rally of the new Bull market. As you can see we compare today to where the price was in 2019, 2015 and 2012 all 238 days before the Halvings of their respective Cycles, which is how long away we are currently (238 days/ 34 weeks) from Halving 4 (estimated in April 2024). In 2012 and 2015, the price was within the 0.618 and 0.786 Fibonacci retracement level, same as today. The exception is 2019 when the price was considerably above that zone, mainly due to the sheer aggressive nature of the 2019 rally. However the correction that followed was equally strong as (even excluding the COVID crash), the price scratched the top of the 0.618 Fib. As a result, we can argue that BTC is exactly where it is supposed to be during that respective phase of the Cycle, based on its historic cyclical activity. This doesn't mean that it can't fall some more, but most likely there won't be many opportunities to buy it at a better discount. Do you think that's the case or are you waiting for a (much) lower price to buy? 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
15
BTC forming a bearish pennant but...I expect this to break down and reach the 24K area, should price break below that one we'll see again the 20K area. Right now we're ranging and it's waiting for some volume to move things. However considering the bullish DIV in formation we could see a breakout until the 28K where I think we'll see a rejection. Bottom line: good if you're doing DCA, I'm doing a "reasoned DCA" meaning I buy alts in certain period where I think it's convenient, however despite having bought a potential bottom it's likely we'll see new bottoms for altcoins. Keep up!
Short
by Shotokhan
Bitcoin: Adjusting To The 28K Support Break.Bitcoin news takes everyone by surprise and breaks 28K support. My swing trade from 29,600 got stopped out at 28,300. While stop outs are never expected, they SAVE money in the long run. This is a very valuable lesson for short term traders who don't respect stops. My max exposure was 1300 points, while price went lower by 5K points. I can only imagine all those who were liquidated as a result of following numerous instances of extremely optimistic analysis. First, understand that there is NO WAY to see something like this coming in terms of technical analysis. The only way to know is to know the news in advance. The only clues on the chart were the fact that we had a failed breakout at 31K and a couple of buy signals that lacked the follow through. During this time of consolidation, the broader structure still maintained a bullish bias (price staying above the 28K key support). When there are dramatic moves in the market, I don't REACT and instead ADJUST to the new information. THAT is the BEST We can do as traders/investors from a technical perspective. Here are the adjustments I am making: 1) Short term trend is now BEARISH (Trade Scanner is now looking for short setups). This means bullish signals carry a lower probability. It will be tempting to buy the bounce, especially off the 25K support, but probability of follow through is LOW. If taking longs, expectations must be small. 2) Key support is NOW 25K AREA. I am using the June low of 24,700 AREA as a key level to further shape mid term expectations. If that level is decisively compromised again, I will consider the mid term trend bearish. 3) Key resistance is now 28K. This is the metric I will use to measure potential for new swing trade longs IF the ideal scenario presents itself. Keep in mind at this point, the mid term trend can be going into a consolidation (similar to the multi year range in Gold). 4) A new bearish continuation signal will be in play if the low of the previous inside bar is taken out. 5) While it is tempting to go long in this situation, the bearish momentum must NOT be overlooked. In these situations I prefer to wait for the ideal setup (which may never appear). That is the failed low or double bottom off the 25K support (blue lines on chart). This type of setup would be considered for a swing trade long only. Keep in mind, if you were expecting BTC 50K or anything nonsensical like that, you really need to question the information you are consuming. The bond market has been warning for WEEKS that potential in these markets is very limited. While losing trades will always be a factor in this game, they can be MINIMIZED in terms of RISK and FREQUENCY. This is especially important in the type of market environment we are in. Instead of looking outward for the answers or to be "informed", it actually has to come from how YOU interpret information relative to the risk you are willing to take. This process begins with a set of SPECIFIC rules that define the type of setup, trade and risk that you are comfortable with. Then you WAIT for the market to meet the criteria, do NOT force or make up trades. WAITING is the hardest part for most beginners and that is why I developed a tool like the trade scanner. And now we can automatically track its results. As I explain to people often, most traders come to this game with the absolute WRONG expectations and beliefs. This is NOT a game of reward, it is a game of RISK. If you don't look at it purely from that perspective, you will simply get fleeced like everyone else. Thank you for considering my analysis and perspective.
EIGHTCAP:BTCUSD
by MarcPMarkets
11
BITCOIN First time on the 1D MA200 in 5 months. Disaster ahead?Bitcoin (BTCUSD) hit yesterday the 1D MA200 (orange trend-line) for the first time since the March 10 2023 Low and closed a 1D candle below it for the first time since January 12 2023. Can this be an early warning that the worse have yet to come? It certainly could, considering that the price also broke and closed below the Higher Low trend-line that started BTC's recovery from the Bear Cycle back in December 2022. However the (massive) decline is so far contained within the March Channel Up. As long as it stays above the Channel's bottom, we expect a short-term (at least) rebound to test the 1D MA50 (blue trend-line) at 28800. Below it, we expect the 1W MA50 (red trend-line) to be tested at 24000. In addition, the 1D RSI hit the 20.45 Support level (massively oversold) that was formed on the bottom of June 18 2022. But a weekly candle closing below the 1W MA50 could be catastrophic and reverse the long-term trend to bearish again. Do you think that's the case? 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
14
#Bitcoin - thoughts out loud #19Good evening, we are from Ukraine! Dear colleagues, I am glad to welcome you! Having familiarized myself with the market situation on the younger time frames, I can note several key points of the situation that need to be paid attention to. First of all, the current decline in volatility on the first cryptocurrency indicates that the "spring" is narrowing and should soon shoot. The false distribution phase is coming to an end, so I expect a successful spike test or the last point of resistance, as it happens, if one of the signals is present, this is a 90% long scenario and then we will see how easy it will be to stop this locomotive. Secondly, in the case of a true distribution, the price should break the local highs above 32000 and then we can safely talk about Bitcoin at 27000, possibly even cheaper. This is a short action plan in a few words, thank you for your attention, all the best. A like or a comment would be the best thank you from you. To those reading, I wish you all the best of luck! Thank you for your attention, and a special thanks for your likes and comments. Sometimes you win /sometimes you learn . #Bitcoin
Long
by WVitalievich
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