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Bitcoin-btcusd-btc

ATCryptoScan : BTCUSD at that time before launch againLooking back at the BTCUSD weekly charts, there appears to be similar, if not the same, technical conditions before the start of a massive BTCUSD rally. This comes with both MACD and VolDiv crossovers and a breakout of a trendline after a period of consolidation. Marked out by time lines, the Green lines are the most similar to current (yellow), and the orange has only a differing VolDiv. All are breakout points and appears to be great accumulation start points for the next year or two. Just weeks ago, a similar technical set up was made, and today is a couple of weeks after... Clear correlation here, so we know what the most probable for the next year going forward... Seriously Bullish BTC PS. this is the repeat post... the amended version.
BITSTAMP:BTCUSDLong
by Auguraltrader
Bitcoin: Hasn't Reached Optimal Price.Bitcoin showing a higher low consolidation just above the 64K area support. Relative to the previous bullish structure, this signifies a higher likelihood that a higher high will follow, it's just a matter of catalyst. In the mean time, price can fluctuate either way from the current point (random). While the trend may be obvious in this situation, timing it effectively has everything to do with recognizing high probability price locations, setups etc. Otherwise you can make the mistake of assuming greater risk than you realize. In this article, I will describe the high probability, lower risk scenario that the market MAY OR MAY NOT present in the coming week. One thing I recognize is that price continues to flirt with a resistance zone which makes this a tricky play for swing trades (at the time of writing current candle is inside bar). The 67K to 70K area is still a resistance zone (blue rectangle) and a higher risk location for long swing trades. In such scenarios when location is high risk but buy signals appear (break of inside bar high for example), it is more effective to assume risk on smaller time frames like 4H or 1H, and attempting to participate for a smaller bite. The risk that you are minimizing in this situation is the possibility that the 65K minor support is tested again and/or broken (see arrow). The higher probability and lower risk scenario would be IF price can test the 64K support, followed by a reversal confirmation. The location is much more attractive since the potential profit is greater (3K+ points) coupled with much lower RISK (1 to 1.5 max) compared to 3K+ points of risk at the moment relative to this time frame. The illustration on the chart summarizes the ideal scenario that IF the market shows, would be a high probability swing trade long opportunity (which requires entry confirmation). These scenarios that I present are dependent on the price action confirmation otherwise risk cannot be justified. Even having a confirmation process (like the Trade Scanner Pro) does NOT guarantee the trade idea will produce a positive outcome. After all, markets are HIGHLY random and outcomes are often the result of unexpected information being priced in. This is why technical analysis cannot be relied upon over longer time horizons, but can be helpful for quantifying risk. Managing a position effectively no matter the time frame has everything to do with having properly aligned market expectations. First you uncover an idea, LET the market confirm the idea, from there it goes the right way or the wrong way. Your expectations will then shape how you manage the position as it fluctuates. The key to effective management is having an open enough mind to let the market pay you more when IT wants to, while being decisive enough to get out the moment you recognize what "wrong" looks like (or using other risk control methods like a stop). All of this information can be acquired from price charts or tools developed to simplify this process. Without any "process" you are most susceptible to relying on intuition and "hope" which will result in the typical retail trader experience: win sometimes but the account never grows for some reason. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
9
BITCOIN This 1D Golden Cross can push it to the ATH ($73800).Bitcoin (BTCUSD) is ahead of a major bullish formation as most likely by next Monday, it will form a Golden Cross on the 1D time-frame, the first such formation since October 29 2023. As we've analyzed before, it is no coincidence that exactly 1 year later a new 1D Golden Cross emerges as seasonality and long-term Cycles play a pivotal role for BTC. On top of that, the price made a major re-test (and so far bounce) at the top of the former Channel Down that broke upwards last week. If this re-test holds, it is the best short-term signal for a new High. In fact the price has been making Higher Highs since the August 05 bottom, forming a double Channel Up pattern, and those Higher Highs are the reason why the market got behind this rally and supported it to break above the 7-month Channel Down. So the Higher Highs along with the 1D Golden Cross are the bullish combination that the market needs to look (much) higher. The first technical target now is naturally the 73800 All Time High (ATH). It is very possible to see it get tested by the election day. But what do you think? Do you expect the ATH to break aggressively after the elections, just like the October 2023 1D Golden Cross did? 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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
3
BITCOIN When the 4 year Cycles do the talking..It's been some time since we last used the Mayer Multiple Bands (MMB) on Bitcoin (BTCUSD) but the timing is just right to bring you an update, only 2 weeks before the U.S. Presidential Elections with the market ahead on an imminent bullish break-out. This time we look into how the price was trading on this date every 4 years. As you know BTC is trading roughly within 4 year Cycles that keep a high degree of symmetry and tend to repeat a lot of dynamics each time. Right now, towards the end of October (2024), the price is trading within the Mean MM (black trend-line) and the 1st SD above (grey trend-line). It has already started rising off the Mean MM. Based on the 4-year Cycle Theory, it is no surprise then that the price was within the exact same range in October 2020, October 2016 and October 2012. The degree of symmetry is remarkable and is yet again showcased by this indicator. We can also see that by this time every 4 years, the price had already started rising off the Mean MM, just as it is doing now. With the green Rectangles we display the date range between these 4-year intervals and the peak of the Bull Cycle. For October 2012 it took 58 weeks (406 days) until it topped, October 2016 was 60 weeks (420 days) while October 2020 was 55 days (385 days). So time-wise the Cycle tends to peak roughly the same period. As a result, if we take the minimum scenario of 55 weeks, we can expect the Cycle to top by mid November 2025. As far as targets are concerned, the first two Cycles hit (and broke) the 3 SD above (red trend-line), while the last one the 2 SD above (orange trend-line). Again assuming a 'worst case scenario' hitting 'just' the 2 SD trend-line, we can set a Target Range of 190k - 250k, depending on whether the price hits it halfway through the 55 week range or towards its end. Nevertheless, an exciting rally appears to be starting for Bitcoin. So what do you think? Is this October MMB fractal about to break to a parabolic rally? And if so, will it hit the orange trend-line? 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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
4
BTCUSD: Broke above the 7 month pattern and turned bullish on 1WBitcoin just turned bullish on its 1W technical outlook (RSI = 56.534, MACD = 2298.400, ADX = 20.606) as it crossed over the top (LH) of the 7 month Bearish Megaphone. This is a major bullish breakout and the only one remaining is the R1 level (70,000). This is practically the reason of today's pullback because the price is being rejected just under the R1 level. Still, there is no cause for concern as since Sep 20th, Bitcoin has crossed and sustained trading above its MA trendlind, a sign of a trend reversal. Furthermore, the Bullish Megaphone that started on the November 2022 bottom just formed a Bullish Cross on the 1W MACD and with the support of the 1W MA50 is now looking to establish the new bullish wave. If similar rallies like the previous waves take place, then Bitcoin can target 100k at least (TP = 100,000), even as early as January 2025. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
1
Bitcoin: Bullish Into Range Resistance?Bitcoin over the recent week has blown through the 64K resistance and now hesitating at 68K. The blue square on my chart highlights the resistance zone that price fluctuates within. Is Bitcoin more likely to continue higher or retrace back to 64K from here? In this article I will evaluate the possibilities of both outcomes and how to better align your decision making with market intent. First I will address my previous week's scenario. If you read the article, my conclusion was that Bitcoin was more likely to retrace and test the 60K support area. Boy was I wrong about that one, but the question is: could I have anticipated that resistance break? The blue arrow on the chart points to a sharp move higher as a result of China surprising the market with a stimulus package (which translates into rising global inflation). Gold, silver and Bitcoin were pushing highs the whole week which serves as a valuable lesson when it comes to how a news events can change the a market outlook in an instant. This is why NO ONE can accurately forecast a market far in advance (unless you have REAL inside information). Any trade or investment can GO WRONG for any reason at any time. Effective RISK management is the key to this game for this precise reason. You have to be prepared to get out of something that is showing the wrong look so to speak and be able to adjust your mindset to the new information at hand. That is the market, you either accept that or simply donate all of your capital to someone who is more flexible than you. That brings me to Bitcoin now. This week I am anticipating a bearish retrace (see illustration) back to the 64K support (old resistance). The sell signal is confirmed when the inside bar low is compromised (previous candle). Even in the face of the inflationary news, I am bearish at these levels for one simple reason: previous tests of this range have attracted selling activity (look backwards on chart). Since "history repeats itself", I believe probability favors selling activity at least for a week or so. Also what adds even more to the short term bearish argument is the fact that Bitcoin continues to respect the broader consolidation which it has been within since March. Until 73K breaks, I will expect the range to stay intact which means both supports and resistances are more likely to HOLD not break. What can go wrong here? IF the current momentum persists, and the inside bar high is compromised instead, it will cancel out my bearish scenario. In this instance, the 70 to 73K zone can be tested. Again this is about ADJUSTING to market action, not getting married to an idea. How you navigate opportunities that are derived from price momentum depends on having clear objectives and being aligned with respective time frames. Before you even pull up a chart, you must know if you are looking for day trade or swing trade setups. From that point you can better utilize what I share here by incorporating my levels, price structure along with my confirmation references. Respect the price, simplify your decision making process as much as possible and learn to recognize "wrong" quickly. It is easier said than done but this at least should put you on the right path. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
26
BITCOIN 'Angle Theory' unlocking this Cycle. Is $140k the top?Exactly 1 year ago (October 02 2023, see chart below), we published a renewed approach on Bitcoin (BTCUSD) historic Cycles, using the 'Angles Theory' on the logarithmic curve to make a more accurate roadmap of the current Cycle: Back then, the price was 'just' $28000 and a few months later it catapulted to almost $74000. Below we present again the basics of that analysis, in order to refresh your memory. ** Cycle Peaks and angles ** BTC's Cycle peaks in historical order have been $32, $1250, $19800, $69800. They all made contact with the Logarithmic top Growth Curve, a historic pattern that is holding since BTC's inception. Every peak-to-peak measurement appears to be roughly half of the previous peak. The automatic angle measurements on the (red) dotted lines may differ based on the screen's display and how the horizontal/ vertical axis move but on ours (and the screenshot of the idea) goes like this: 42°, 22°, 11°. We estimate a 7° angle for the new Cycle peak on the log Growth Curve. ** Next Cycle peak? ** If we take all previous Cycles and apply them to fit the new price action towards the top of the Log Growth Curve, that 7° line gives a projected Cycle peak within $140000 - 160000 (slightly updated from our study a year ago). It is also interesting to apply the same angle principle to the Cycle bottoms. We can see that those (green dotted lines) can also roughly be half of what the previous bottom was (though the variations are higher). The new bottom is estimated to be on a 8° angle. Remarkably the angles of the tops and bottoms of each Cycle have approximately the same measurements, indicating that despite being logarithmic within a curve, they can be viewed separately in Channels. ** Last year compared to now ** So how has this Theory worked out compared to last year? Well beyond doubt, the Cycle was much more aggressive that the previous two (blue and orange) due to mainly the Bitcoin ETF launch, and is certainly more similar to the first Cycle (black). That suggests that it will top by January 2025 but the Sine Waves Tops, which have caught Bitcoin's cyclical peaks with incredible accuracy, indicate it will be around November 2025. As you can see, this is exactly where the projection of the blue and orange fractals show. But what do you think? Will the current Cycle peak at the end of 2025 and if show will it be at a minimum of $140000 and a maximum of $1600000, as the 7° angle on the Log Curve suggests? 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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
2
BITCOIN One year later, the pattern is repeated and leads to 88kThis is not the first time we make a case for October being the start of an aggressive rally for Bitcoin (BTCUSD) and lately we have presented you the evidence on the long-term 1W time-frame. This time we want to focus on the 1D chart, where a more detailed analysis can be made on the fractals that lead to this rally. It was the very same pattern that helped us catch last year the amazing October 2023 - March 2024 rally, as you can see on our September 28 2023 post (see chart below): As you can see both fractals (2023 and 2024) traded initially within a Triangle pattern that bottomed on an Inverse Head and Shoulders (IH&S). The bottom took place at the same time of the 1D Death Cross formation. Throughout the whole process, they were supported by the 1W MA50 (red trend-line). Right now on the October 2024 fractal we are at the point where BTC just broke above the top (Lower Highs trend-line) of the Triangle. On the 2023 fractal that led to a brutal rise that only took a 'break' after reaching the 2.0 Fibonacci extension, right after forming a 1D Golden Cross. As a result, it is possible to see $88000 (Fib 2.0 ext) in December, before the market 'cools' again. Much of course will depend upon how the markets will digest the November U.S. elections but as we've shown you in analytical charts here, the result of event tends to make little difference. So what do you think? Can this break-out lead to 88k? 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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
Bitcoin: Sell Signal Watch For 58K.Bitcoin continues to respect the support/resistance levels within the broader consolidation. These price areas have been relevant for months and will continue to be relevant UNTIL the market proves otherwise. To navigate this environment effectively requires the ability to anticipate price behavior at these key levels, confirm a reversal AND quantify the risk associated with the time frame you intend to operate within. With this in mind, 64K is a CLEAR resistance and it is within reason to anticipate bearish activity across higher and lower time frames. As of now the low of an inside bar has been broken (see arrow). This CONFIRMS a sell signal off the 64K key resistance which means this is NOT the time to be long (swing trades) and aggressive shorts are reasonable for smaller time frame (day trade) strategies. The illustration on the chart refers to the scenario that I believe has a greater probability to unfold compared to a narrow range of scenarios over the coming week (see previous articles for outcomes of previous illustrations). While this can change at any time, the point here is to recognize the next probability location (58K AREA) for a swing trade long. IF Bitcoin presents such a test, the pattern to watch for is a bullish pin bar or inside bar between 56 and 58K. Such an outcome can be characterized as a failed low formation which is very typical within price consolidations. If you are interested in the short side potential, following the illustration is most effective on smaller time frames and using a tool like my Trade Scanner Pro in trend mode. This setting is specifically for momentum continuation patterns which are likely to unfold in price regions that are not in close proximity to key levels (like 62L to 60K for example.) The idea is to follow the momentum on the smaller time frame while also accounting for the smaller magnitude profit objective and risk. Playing the price action game totally relies on a strong grasp of HOW price moves, NOT WHY. One of the biggest obstacles for retail traders is the relentless amount of misinformation that is then mixed with personal emotional baggage. Yet, even though I repeat this often, it is no match for the power the drives human nature. People would rather react to and put their trust into an exciting story rather than a bunch of seemingly abstract lines on a chart. What the typical trader fails to realize is that a chart is a historical record of human behavior expressed in the form of buy/sell orders. The problem we are trying to solve (where is price going next?) is a BEHAVIORAL one, and nothing more (even in the age of algos). One of the universal truths that make technical analysis worthwhile is that "history repeats itself". Why else do you think support/resistance levels have any future opportunity value? Thanks you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
20
BITCOIN below the 60k again! Is this alarming??Bitcoin (BTCUSD) broke today below the $60000 market again for the first time since September 18. The first headlines are already hitting the market calling for more downside. We highly doubt that as no only has the priced formed the first Higher High on September 27 in 6 months, but more importantly the uptrend since the August 05 bottom is supported by a Higher Lows trend-line. Also, the 1D MA50 (blue trend-line) may have been broken, but as long as the price holds the 1W MA50 (red trend-line), which has held twice already on August 05 and September 06, the chances of a break-out above the 7-month Lower Highs trend-line are high. In fact, the pattern since the August 05 bottom appears to be an Inverse Head and Shoulders (IH&S). The standard technical target on such occasions is the 2.0 Fibonacci extension, which gives us a $80000 price tag. As long as the 1W MA50 holds, this is the most likely scenario in our opinion. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
4
BTCUSD: October is the countdown to the Cycle's Top.Bitcoin is having a strong pullback today, turning the 1D technical outlook bearish (RSI = 40.457, MACD = -31.100, ADX = 28.196). This is no cause for concern as long as the 1W MA50 holds. In addition, every October after a Halving event has been the start of the Cycle rally and interestingly enough the top has always been formed 13-14 months after! This indicates that we still have more than a year of bullish trend ahead of us with the top projected inside November - December 2025. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
BITCOIN fractal alert! Happening exactly like last October!We talked a while ago regarding the 'October effect' (August 28, see chart below) on Bitcoin (BTCUSD). But today we need to make an urgent analysis as it appears that the market is repeating almost the exact sequence of a year ago (October 2023). The similarities are more obvious on the 1D time-frame where the price is currently ranged within the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line). The most recent time it traded like this was exactly one year ago, back in the first two weeks of October 2023. As you can see, during that time BTC also made a marginal break above the 1D MA200 before quickly pulling back below it. After it tested and held the 1D MA50 (as it did no on October 01 2024), is started the long-term aggressive rally of the Channel Up that peaked on March 14 2024. As long as the 1W MA50 continues to hold as the long-term Support, there are high probabilities of seeing 100k, even before the end of 2024. But what do you think? Do you see realistic the scenario of repeating the post October 2023 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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
16
Bitcoin: Avoid Getting Caught In This.Bitcoin has retraced further than anticipated from my previous analysis (went to 60K instead of 64K support). There was never any price confirmation to go long on this time frame so you should have been able to avoid getting caught on the wrong side of such a move. While there appears to be a bullish correction of that move in progress now, it is important to prepare for the coming resistance where a lower high may unfold over the coming week (64K previous support/new resistance). The arrow on my chart points to the 64K resistance area. This location is notable for two important reasons: price can present a bearish reversal there on this time frame, and retest the level again as a profit objective in the near future. The illustration on my chart shows how I am anticipating the price action will play out in this regard. Keep in mind, this is NOT any kind of guarantee, it is what I believe has a greater possibility compared to a narrow range of scenarios over a short time horizon (click on previous articles to see how my illustrations play out). The whole point of sharing this analysis is to help you prepare for what the market can throw at you over the coming week. The key to using this information effectively is evaluating price action around these levels in search of CONFIRMATION (Trade Scanner Pro was made of this purpose). For example, over the previous week, Bitcoin broke the 64K anticipated support without ever confirming. There was never a reason to justify risk here, and every reason to step aside. Having a decision making model of this nature not only helps you to adjust to unexpected changes, but also avoid unnecessary losing positions. In terms of current momentum, there was an inside bar breakout at 62,300 (previous high) and a long signal in play. This type of opportunity is best managed by smaller time frame strategies (day/swing trades). This is far from an attractive investment level, especially since there is only about 1K points before first resistance (64K). I consider this location as one of elevated risk, especially compared to the possibility of retesting 60K support again to be followed by a bullish signal. The second bullish signal (off 60K) would be the lower risk/higher probability play. This is just a possible scenario that I will be prepared for IF Bitcoin presents and confirms it, this is NOT a forecast. Whether you are an investor or trader, you must have a way to objectively make decisions. A set of criteria to identify an opportunity, confirm entries, project exits and define risk. The time horizon that you choose will be an important factor that will shape how you process this information. As complex as all of this may sound, the goal is to accomplish this all while using as little information as possible. This is the LEAST you can do in a market environment where we as the retail trader/investor have NO advantage whatsoever. Otherwise you are simply stuffing your money into a glorified slot machine. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
13
BTCUSD: An insane rally is starting courtesy of the USDT Dom.Bitcoin is rebounding today aggressively on the 1D MA50, being only neutral on its 1D technical outlook (RSI = 52.075, MACD = 23.455, ADX = 23.455), indicating that the upside potential is tremendous. One correlating asset in particular is showing that an insane rally is about to start, and that's the USDT Dominance. It is about to make a bearish reversal which on October 12th 2023, kickstarted the last strong rally of Bitcoin. We expect 100k to be met on this one. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
BITCOIN Cup and Handle on full motion looking for the break-out.Bitcoin's (BTCUSD) full Cycle since the November 2021 High can be illustrated as nothing more than a Cup and Handle (C&H) pattern with the Channel Down since March 2024 being the Handle of the formation. Simple yet a technical reality, the Handle found support both in early August and September on the 1W MA50 (blue trend-line), keeping the bullish trend valid. In fact, the 1D MA200 (red trend-line) and the 1W MA50 have been the bottom formation zone during its previous 6-month consolidation in August - September 2023. All Bullish Legs since the November 2022 bottom have been within +90% and +100%. Even if the minimum (+91.68%) of the last rally is followed, we can expect Bitcoin to reach at least $94000 during that run by the end of the year. But what do you think? Will this Cycle-long Cup and Handle serve its purpose and break-out aggressively? 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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
BITCOIN The 'March-October' effect kickstarting an insane rally.Back in August we were first to discover and bring to you the 'March - October' effect (see chart below) on Bitcoin (BTCUSD), which is what every one is talking about now as we've started the month of October yesterday and the final quarter (Q4) of the year: As you can see, this is nothing more than a consolidation that the market tends to make within this 6-month range that ends on October, which kick starts an aggressive rally. That was the case in 2020 (would be more flawless if the COVID crash hadn't distorted the chart) and more recently in 2023. Note that historically October shows gains of around +21.00%. What we can additionally keep from this chart is that the 1W MA50 (blue trend-line) held on three 1W candle tests since the August 05 Low and that provides the base for a potential October 2024 - March 2025 rally. March 2025 has high chances of forming the peak of the rally as it historically tends to tops such Bullish Legs and then starts consolidation phases. That was the case on March 2024, March 2023, March 2021 and (as mentioned) if it weren't for the COVID flash crash, would have been most likely the case for March 2020. All in all, even though the first two days haven't been ideal, we expect October to prepare the foundation for an incredible rally, especially on its last 2 weeks, a rally that might very well reach as high as $150000 before it enters a correction again. But what do you think? Will October start such a 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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
8
Bitcoin: 70K Objective Within Range.Bitcoin has pushed beyond the 64K resistance but is now hesitating with the appearance of an inside bar. If the high of the inside bar is cleared, that would be a momentum continuation signal which can see price push into the 67 to 69K resistance. If the low of the inside bar is cleared, a retrace can unfold which can take price back into the 63 to 64K area (old resistance/new support). The key to navigating this is WAITING for confirmation and having your parameters and expectations predefined. Reacting to market events is typical retail behavior most often a mistake. The illustration on my chart shows the scenario that I am anticipating over the coming week. (See my previous articles to see these play out). While there is NO way to know if price will follow this path, IF price action confirms, this scenario has a greater probability. I am able to identify these opportunities from carefully evaluating TREND and SUPPORT/RESISTANCE levels. I am simply FOLLOWING what the market is implying through price. I don't have to get overwhelmed with "fundamentals", and "news" and other propaganda because price factors in ALL the known information in the world in a given moment (Efficient Markets). If you understand this concept, it then becomes much easier to recognize opportunities and most importantly measure the associated RISK. The arrow on my chart points to a predetermined price area (63 to 64K) to watch for If reached. This would be the lowest risk/highest probability point if confirmation appears. Ideal for swing trades especially where reward/risk can reasonably be 2:1 or greater. The reward/risk component depends on how you define risk at the time of the signal (this is what I use Trade Scanner Pro for). You can also use the next support level or candle stick low which is better than nothing. What is also compelling about this situation is the changing interest rate environment. While the change will not have an instant to the moon effect, it will offer a more supportive environment over time. This will be ESPECIALLY important during pullbacks when support levels are tested. This charge also calls for a closer look at low priced small caps/alt coins because they are poised to benefit from the increasing money supply resulting from lower rates. NOW is the time to be looking to invest, NOT at all time highs. I will be talking more about this soon as well. How you use this information will mostly depend on your decision making structure. A seemingly more bullish environment does not guarantee trades/investments will work out. Although it does provide for a more forgiving market. Know your RISK before you enter any type of position and this can be defined by using information straight from your chart. For example if Bitcoin confirms a long at 64K, I automatically know risk on this time frame can be at least 1 to 2K points. From there, a profit objective and sizing regime can be worked out. If you are not this organized, do NOT risk real money until you have some kind of management or decision making structure in place. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
21