BTC Holding Steady in Fear ZoneGM crypto bro's! This morning, the Fear and Greed Index is at 29, still in the fear zone. The Stochastic RSI remains in the oversold area, same as yesterday.
In terms of price action, BTC's outlook today is similar to yesterday's market update. The closest potential pump target is between 60K - 61K, but be cautious—this doesn’t mean the dump is over.
So always keep in mind the market is dynamic—don’t get FOMO, stay safe, stay calm. Remember, anything can happen in the crypto market. Manage your risks, and that's all for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
Bitcoin-btcusd
BTCUSDT / TRADING BELOW TURNING LEVEL - 4HBTCUSDT
HELLO TRADERS
The overall trend remains downward as long as trading stays below the turning level of 60.838 .
Currently, prices are below this level, suggesting a potential decline towards the first support level at 57.147 . If a 4-hour candle closes below this support, further declines are expected, targeting the second support level at 54.727 .
For prices to increase, the turning level must be broken and stabilized above, which could lead to a rise towards the first resistance level at 63.586 , and potentially further to 65.727 .
KEY LEVELS :
Turning Level : 60.838 .
Resistance Levels : 63.586 , 65.760
Support Levels : 57.147 , 54.727
Bitcoin is at support, set for a short-term ascent!As Bitcoin travels through the descending parallel channel, it looks like it has finally secured support near 56k, a level it has relied on multiple times in the past.
We foresee a bullish movement from this point in the short term.
1st target - 65k
2nd target - 70k.
BTC Hits 55K: What's Next?GM crypto bro's! This morning, the Fear and Greed Index remains in the fear zone at 27, while the Stochastic RSI is showing signs of exiting the oversold area.
BTC has dropped to the 55K area, as I mentioned a few days ago. Where is it headed next? The current price action suggests a probability of reclaiming the 60K - 61K range as the nearest target.
Like always, keep in mind that the market is dynamic—don’t get FOMO, stay safe, stay calm. Remember, anything can happen in the crypto market. Manage your risks, and that's all for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
BTC Shows Signs of Recovery!GM crypto bro's! This morning, BTC finally turned green and is back in the 59K area. Fear and Greed Index is at 26 (fear), and the Stochastic RSI is starting to show signs of a potential upward move.
Does this mean the 55K drop is off the table? Unfortunately, no—just that the probability has decreased. For now, the closest potential area for BTC to visit is the 60K - 61K range.
Remember, the market is dynamic; don't get FOMO, stay safe, stay calm—anything can happen in the crypto market. Manage your risks, and that's it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
BTC USD IdeaI'm unsure which direction BTC/USD will trend, but I've been analyzing order flow software in the live auction. Since last week, the 4-hour candles have shown volume in the millions, and the trend is extremely bullish. However, the market maker has been giving 8-hour rallies and then taking out buyers' stops. This pattern has been consistent since Thursday.
I haven’t opened any swing trades yet; instead, I've been scalping in and out. If the price remains bullish and I consider buying, I need to see a significant move down followed by a strong move up. This would indicate that traders have been trapped, and only then might I consider a swing trade. For now, there's no way I'm entering, as the price hasn't dropped to those discounted daily lows to offer a clean trade—this isn't a business where they just hand you easy trades like it's your birthday. They're in the brutal business of making serious money.
So, I'm waiting to see big moves after the holiday, and then we can make a plan. Enjoy Labor Day, and let’s keep hunting!
Bitcoin - Where It Should Be Is Correct.
Bitcoin - Where It Should Be Is Correct
Bitcoin hovering around this price range in a sideways channel for a long period of time is exactly where it should be in cycle where weak hands get bored and sell to strong hands.
Z-Score showing no signs of anywhere near an overheated market, Spot ETF's are still very underallocated, the RSI Halving 100, Weekly repeating the same sideways "boring" market we have always seen.
When this trend eventually ends the price flips to the upside in a very short period of time catching most of the market off guard. Until the flip happens which looks like it will happen before year end, any Bitcoin price under $100,000 is a gift.
Eyes on Bitcoin. its looking more and more like 2017 as the weeks go on.
BTC Heading Towards 55K?GM crypto bro's! Back to the grind of corporate life, and BTC isn’t making it any easier this morning, dropping to the 57K range. Fear and Greed Index is at 26 (fear), while Stochastic RSI remains in the oversold area, but no signs of a bounce yet.
Given this morning's drop to 57K, it's just a matter of time before BTC revisits the 55K area, as mentioned in my updates a few days ago. We might even see a wick down to 54K.
Remember, the market is dynamic; don’t get FOMO, stay safe, stay calm. Anything can happen in the crypto market. Manage your risks, and that's it for today's crypto update. This is Akki, signing off with one chart. Have a nice day!
Bitcoin: Watch Reversal Confirmation 56K.Bitcoin broke 60K but is showing signs of buying activity in the form of pin bars just above the 56K major support (see arrow). This retrace should come as no surprise if you read my previous article where I anticipated this scenario a week earlier. While current momentum is still bearish, this market is in a consolidation on this time frame which means the support/resistance levels are where the opportunities are more likely to develop. This means the 56K area is a key level where a high probability and high potential bullish reversal can appear over the coming week.
Now just because a reversal can be anticipated does NOT mean to jump in early which is a very common mistake. Confirmation IS the key to mitigating risk and aligning with the probabilities. If price does NOT confirm a reversal, it will then be "saying" that IT wants to continue the bearish momentum which can lead to a test of the 53 to 50K support. Again this is NOT about what you or I "think", its all about what the MARKET demonstrates through price action.
What does confirmation look like? On this time frame, a pin bar or inside bar followed by the break of the high of that bar. At this time, IF the current candle closes in the form of a pin bar and takes out the 59K high, we can argue a new buy signal is in effect. The thing is, a trade idea is NOT just a buy signal, it must also consider the accompanying RISK. Using this method, the candle low is one point of reference for risk which can be any where from 2 to 3K points (on this time frame). Once you figure out the risk, you can then calculate a profit objective or you can reference the next resistance level around 64 to 66K area.
Not everyone has the same tolerance for risk. Only you can determine how much risk is appropriate. This is where smaller time frames offer more flexibility. For example, if 2 to 3K+ points of risk is too much, you can consider a smaller time frame such as a 4 hour or 1 hour. Your profit objectives will be proportionally lower but so will your risk. If price reaches 56K (blue box) and confirmations appear on a 4H or lower time frame, you can enter with more confidence because your risk will likely be in the 1K range while your probability of a positive outcome will be much greater (56K is a historical location).
You can calculate all of these factors yourself or use a tool (like my Trade Scanner Pro). Before you even get to that point, you must first know what you are looking for (anticipate). As I tell my followers there are two types of trades: continuations and reversals. An example of a continuation is when a break out occurs, while a reversal is when a support/resistance level holds. Considering components like trend and support/resistance levels in relation to each other (context) is how you can formulate your anticipated idea BEFORE expecting a confirmation. Without this important step, you are essentially playing a RANDOM game.
With this in mind, for the coming week I am anticipating a REVERSAL around the 56K area. IF price confirms sooner, that is okay too, but the question becomes how does this change the risk. Also it is important to remember that we are still in holiday mode which means movements can be muted and erratic. If you are going to play, be selective and specific while keeping risk tightly controlled. Careful attention to smaller time frames can help in this area.
Listen to the market, it is ALWAYS right.
Thank you for considering my analysis and perspective.
BTCUSD Market Update: Possible Continuation to 55K?Good morning Crypto Bro's! Happy weekend and payday! 🌞 This morning, the fear and greed index is at 29 (fear), and the stochastic RSI is starting to enter the oversold area.
Yesterday’s candle dropped as I mentioned, hitting the 58K level, but it even went further down to 57K. Today’s market outlook remains similar to yesterday’s update. There is still a possibility for another drop to 55K with a 60% probability, while there is a 40% chance for BTC to go sideways between the 57K - 61K range.
Always keep in mind that the market is dynamic—don't FOMO, stay safe, keep calm, and remember, in the crypto market, anything can happen. Always maintain your risk, and as always, that's all for today's crypto update. This is Akki, one chart, and have a nice day! 😊
Even if This Isn't Distribution, Consolidation Could Take MonthsJust popping in for a quick Bitcoin update. Though cycle proponents will be quick to point out that Bitcoin is way ahead of where it "should" be, price wise compared with previous cycles, it's still struggling to maintain a new all-time high despite supposed institutional interest. People who have been in the market for years are starting to want out, expressing the sentiment that this is going to be their "last cycle." Meanwhile, stocks are significantly up since their last all-time high and some high-performers like Nvidia have well outperformed Bitcoin over the last few years. Bitcoin's price currently looks like consolidation after an explosive move up from the bear market lows near $15.5k. It's taking so long that price is beginning to drift below all the major daily moving averages. Ethereum is really looking quite weak, having retraced all of this year's gains and broken below a major long term trendline.
On my Bitcoin chart, price is hanging out below the large broadening support, dating back to fall 2022, now almost two years ago. It's below all the major daily moving averages, representing current weakness. Seller volume remains generally high in this range.
I drew a secondary trendline and another broadening pattern, this one pointing down. Historically, this can be a bullish pattern. Even if it is, there appears to be plenty of room structurally for more sideways movement into the fall. The pattern comes to completion by the end of the year. This is an example of what I'm thinking, for bullish and bearish options:
Bulls hope that consolidation this long produces a major move up, perhaps all the way to $300K + and to the top of the broadening pattern. This sounds crazy, but it's roughly the same magnitude of price increase as the last bull marker. Though, due to diminishing returns, this does really seem unlikely. Of course, this is a lot of foo-foo guesswork, but understanding charts visually has always been how I like to roll. Fundamentals are then also important.
On the bearish side, a breakdown from these patterns could easily send prices back below $40k. Let's see how things play out! I'm still betting on crypto largely becoming a forgotten "industry" due to lack of authentic utility and therefore little fundamental value. Even though ETFs exist, ETFs exist for many things. I don't think investors are necessarily prepared for the slow fade, where Bitcoin and other cryptocurrencies remain niche and their value starts to decline over time. I'll easily be proven wrong if prices sustain new all-time highs.
Thanks for reading! I'll provide updates when I can. This is clearly speculative and not meant as financial advice.
-Victor Cobra
BTC USD UpdateOn BTCUSD, I'm still looking at this channel, and we have 1-2-3 swing points. But we're also building liquidity under us, so it's a very tricky situation. I want to add more to bullish trades, but it's hovering and tricking in buyers, so I'm standing on the side at the moment. If I see a move, I go in on 15-minute scalps and get my stop break-even in the first logical moment. So, not much to share today. Stay safe, friends. There are millions of assets on the market. I always stick with one that's clear to trade. My style is so simple and clear. All I need is a safe place for my stop loss. Other than that, I don't care about pushing trades. I've learned my lesson the hard way in the past.
BTC at Crossroads: Price Action Hints at Further Downside?Good morning Crypto Bro's! This morning, the fear and greed index is at 34 (fear), and the stochastic RSI is starting to enter the oversold area. Yesterday's candle briefly pumped to around 61K before dumping back down to the current range at 59K.
In terms of price action, BTC has two possibilities for further dumping: first, to the 58K range, and second, to 55K. Hopefully, the second scenario won't happen, but if it does, make sure to secure your portfolio positions and have enough ammunition to accumulate more Bitcoin at better prices.
Keep in mind, the market is dynamic—don't FOMO, stay calm, and always be prepared for uncertainty in the crypto market. Anything can happen. Always maintain your risk, and that's all for today's update. This is Akki, one chart, and have a nice day!
BITCOIN - Catch Wave Y In our last analysis, we have observed a WXY correction that is still in play. Price made a nice bounce off channel making a running flat.
Can we buy from here?
TOO Risky..
What we want to see?
BITCOIN 1H - Wait for the break of structure, 50 EMA and trendline. Entry will be at the retest
Good Luck and Trade Safe!
BTC’s Downtrend Nears End? Stoch RSI Signals Possible ReboundGM Crypto Bro's, this morning the fear and greed index is at 29 (fear), and the stoch RSI is starting to enter the oversold area, which could indicate that the significant downturn might be coming to an end.
Overall market outlook today remains similar to yesterday’s update, with a personal outlook suggesting that we might see the month closing around the 60K-62K range.
But as always, keep in mind that the market is dynamic—don’t fall into FOMO, stay safe, keep calm, and remember that anything can happen in the crypto market. Always manage your risks, and that’s all for today’s crypto update. I’m Akki, signing off. Have a nice day.
BITCOIN The 'March-October' effect..Bitcoin (BTCUSD) is taking a hit on a weekly basis as, despite last week's green candle that extended the rebound on the 1W MA50 (blue trend-line) and hyped hopes for a new 70k test, the last two days are resetting the momentum.
Still, there is no cause for alarm as BTC has been practically consolidating since the March All Time High (ATH). And in fact, the market is no stranger to such consolidations as just as recently as last year, it was also ranged from March until October 2023, before starting the massive rally that led to the ATH.
Even in the previous Cycle, we can somewhat see a rough consolidation pattern, which if it weren't for the COVID crash 'anomaly' of February 2020, the market would again be ranged from March to October 2020. As a side-note, check also how similar the 1W RSI sequences of those fractals are, trading around the same price levels as well.
For title catchers, we can call this 'The March - October effect' and if it plays out again the exact same way it has historically, then as soon as September ends, we can be expecting one of Bitcoin's brutal Bull Cycle rallies (green Channels).
Practically we are only a month away and as you can see in the previous Bull Cycle, the main two rallies have been fairly symmetric. If the one that might start in October is proportionally as strong as the October 2023 - February 2024 one, we might be looking for at least a $150000 Target.
But what do you think? Is a massive rally only a month away and if so, could it reach $150k? Feel free to let us know in the comments section below!
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BTC USD UpdateSo We have Low Of 56120.00 what makes still price bullish, considering bearish price slap down for 2 days , it pretty good idea to start to trade higher in discount, but not exactly sure , we made 2% last week on this range, i do not want to give back to the market , and do swing trade at this point. I ll reduce risk into 0.1 % and scalp in 5 minute chart , maybe i get lucky and get runner, higher if not, i stand on side and trade it when clearity comes.
BTC Faces Deep Drop: Sideways Action Ahead GM Crypto Bro's, the market is heating up again this morning! The fear and greed index is at 30 (fear), while the stoch RSI has dropped significantly from its overbought area.
BTC’s correction followed exactly as predicted in my market update from two days ago, but the drop was deeper than expected, even touching the 58K-57K range. So, what’s next?
In terms of price action, BTC may now move sideways with some pump and dump within the 60K-62K range. However, based on current data, there’s a significant potential for a strong rise next month.
But as always, keep in mind that the market is dynamic—don’t fall into FOMO, stay safe, keep calm, and remember that anything can happen in the crypto market. Always manage your risks, and that’s all for today’s crypto update. I’m Akki, signing off. Have a nice day.
BTCUSDT🔍 BTC/USDT Analysis: 1-Hour Timeframe 📉
The BTC/USDT chart on a 1-hour timeframe reveals significant upcoming dates where price movements may present trading opportunities. As always, it’s crucial to analyze these signals in conjunction with higher timeframes for a more comprehensive understanding of the market.
• August 31, 2024, 16:00 - Red Line: This time marks a potential local peak. Traders might consider this as a moment to take profits or reduce exposure, as the price could encounter resistance or a downturn.
• August 27, 2024, 22:00, and September 2, 2024, 07:00 - Green Lines: These times suggest potential local lows. Traders may find favorable conditions to accumulate BTC or consider entering long positions.
When working within this 1-hour timeframe, remember that these movements should be evaluated with a global perspective, incorporating insights from higher timeframes to better understand the overall market trend.
Note: The exact timing of these phases can vary by +/- a few hours. All times are based on UTC-7 (Los Angeles).