Get started

Bitcoin-btcusd

Bitcoin 9/25/24Technical Analysis of Bitcoin Chart Using Fibonacci and RSI Fibonacci Retracement Analysis In this chart, Fibonacci retracement levels are clearly plotted from a low near $50,000 (around September 12th) to a high near $63,500 (around September 19th). These levels help us understand where support and resistance zones might form based on past price action: 1. 23.6% ($60,670): This level acted as a resistance before the price retraced to lower Fibonacci levels. It could still serve as a minor resistance level if the price moves upward again. 2. 38.2% ($58,300): The price has bounced around this level several times. It is a key support area, and if Bitcoin breaks below it convincingly, it could lead to further declines. 3. 50.0% ($56,750): Another critical psychological and technical level. The price briefly tested this level before bouncing back. A break below this would indicate a deeper retracement is in play. 4. 61.8% ($55,200): Known as the "golden ratio," this is a significant support level. If Bitcoin continues to fall, this level could be tested next. 5. 78.6% ($53,700): The final major retracement level before revisiting the previous lows near $50,000. RSI (Relative Strength Index) Analysis The RSI at the bottom of the chart: Currently hovering between 40 and 50, indicating neutral to slightly bearish sentiment. No clear oversold or overbought signals, as the RSI hasn't dipped below 30 (oversold) or risen above 70 (overbought) recently. This mid-range RSI suggests that Bitcoin is in a consolidation phase after the recent rally but has not yet reached exhaustion for a major reversal. Key Takeaways 1. Support Levels: The 38.2% retracement level at $58,300 is a crucial support area. If Bitcoin falls below this level, we could see it testing the 50% ($56,750) and eventually the 61.8% ($55,200) retracement. A further drop could bring the price to $53,700 (78.6% retracement), which would be a critical support zone before testing the lows of $50,000. 2. Resistance Levels: The 23.6% ($60,670) level has already acted as resistance and could be tested again if the price rallies. Breaking above this would shift focus towards retesting the highs near $63,500. 3. RSI Implications: Given that the RSI is neutral, there is no strong indication of either overbought or oversold conditions. However, a move below 40 could signal increased bearish momentum, whereas a move above 60 could indicate bullish momentum. In summary, Bitcoin is in a retracement phase after hitting highs around $63,500. The critical levels to watch are the 38.2% ($58,300) and 50.0% ($56,750) Fibonacci retracement levels. The RSI suggests a period of consolidation, and if the price continues to fall, it may find support around the 61.8% retracement ($55,200).
INDEX:BTCUSD
by ILL_Midas
1
BTCUSD Daily Update - Greed Zone, But No Correction Yet?GM crypto bro's, this morning, the Fear and Greed Index has finally entered the greed zone at 59. It seems BTC still isn’t ready to correct down to the 61K - 60K range. BTC is already quite overbought in terms of price action, and the Fear and Greed Index is also showing signs of a potential correction. However, our pump target remains the same as yesterday, around 65K - 66K. Keep in mind, the market is dynamic, don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
Bitcoin forecast 9/24/241. 111-Day EMA (Yellow) and 150-Day EMA (Green) Crossover The 111-day EMA (yellow line) is moving below the 150-day EMA (green line), which signals bearish momentum. This suggests that the market is currently in a downtrend or at least lacks strong bullish sentiment. The price of Bitcoin has been struggling to break above both the 111-day and 150-day EMAs in recent attempts. These EMAs are acting as resistance levels, making it hard for the price to sustain upward momentum. Historically, when shorter EMAs (like the 111-day) are below longer EMAs (like the 150-day), it suggests that the market could continue in a bearish trend until a reversal happens. 2. Price Action Bitcoin is currently priced at $63,268.88 (as indicated by the chart), which is below both EMAs. This reinforces the idea of bearish control at this moment. The price had been attempting to recover from earlier dips but failed to break through the resistance levels provided by the EMAs, suggesting that sellers are still dominating the market. 3. Relative Strength Index (RSI) The RSI indicator is shown at the bottom of the chart, currently pointing towards a slight bearish momentum as it hovers below 50. The RSI appears to be in a downward trajectory, suggesting increasing selling pressure. A break below 40 would further confirm the bearish sentiment and could indicate an oversold condition, where a short-term bounce might be possible. However, as the RSI hasn't reached oversold levels (below 30), there may still be room for more downside before any major reversal is expected. 4. Support and Resistance Immediate Resistance: The key resistance level is at the area between the 111-day and 150-day EMAs, roughly around $63,500 to $64,000. A clear breakout above this level would signal potential bullish momentum. Immediate Support: There appears to be a psychological support level at $60,000, which could act as a temporary floor for the price. If Bitcoin breaks below this, further downside towards $55,000 could be possible. 5. Summary Trend: Bearish, given that the 111-day EMA is below the 150-day EMA. Momentum: Weakening, as suggested by the RSI trending lower. Outlook: Bitcoin needs to reclaim the EMAs to resume bullish momentum. Until that happens, downside risk remains, particularly if RSI continues to trend lower. Traders should watch for any divergence in the RSI or a crossover of the 111-day EMA above the 150-day EMA as potential signals of trend reversal. For now, however, the bears are in control.
INDEX:BTCUSD
by ILL_Midas
BTCUSD Daily Outlook - Small Correction After the 64K Surge?GM crypto bro's, let’s start today’s market update with the Fear and Greed Index still in the neutral zone at 54, while the stoch RSI remains in the overbought area. BTC has risen quite high to the 64K range, so it's normal to expect a small correction today. The potential correction range is still the same as I mentioned in the previous updates, around 61K - 60K. In the crypto market, it's like sailing on the ocean—enjoy the beautiful waves and also brace for the storms. Keep in mind, the market is dynamic, don’t get FOMO. Be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
Bitcoin 9/23/241. 0 Fibonacci Level (support): The price has frequently touched the 0 level, indicating strong support. Notice that Bitcoin bounced off this level in late June and mid-August, showing resilience. This suggests that buyers step in heavily around these points, preventing further downward movement. 2. 1 Fibonacci Level (resistance): Similarly, Bitcoin hit the 1 Fibonacci level a few times, such as in mid-July and early September, where it faced resistance and failed to break through. This shows that sellers dominate when the price approaches these levels, which creates a ceiling for price action. 3. Range-bound movement: Between the 0 and 1 levels, Bitcoin has been mostly consolidating, swinging up and down without a clear breakout in either direction. This implies that the market is indecisive or accumulating, awaiting a trigger for the next big move. 4. Current price near resistance: As of now, Bitcoin is approaching the upper Fibonacci level (1), indicating the possibility of another pullback unless a breakout occurs. In conclusion, Bitcoin is trading within a defined range of 0 and 1 Fibonacci levels, with support near 0 and resistance at 1. If Bitcoin breaks above the 1 level, it could signal a bullish breakout; otherwise, a rejection could lead to a pullback.
INDEX:BTCUSD
by ILL_Midas
1
Trump or Harris?? For BITCOIN the elections only need to happen!Simplistic title over a matter as complicated and important as the upcoming U.S. Presidential Elections this November, but completely true in terms of pragmatism. As this straightforward 1W chart shows, Bitcoin (BTCUSD) isn't just bulletproof when it comes to the elections but in fact it gains extreme buying momentum irrespectively of the winner (Democrat or Republican). Obama in 2012, Trump in 2016, Biden in 2020 all those elections had in common the enormous Parabolic Rally that was initiated exactly after the result. That was on all Cycles the most aggressive phase, clearly showing that investors just need the elections to be over in order to buy risky assets confidently without this macro event in the way. Usually this comes with fresh presidential assurances that the 'market remains strong and we will do everything to keep it this way' etc, so it makes sense. What is equally interesting is that Bitcoin tends to top roughly a year after the elections: November 06 2021 = Bitcoin topped 385 days later November 08 2016 = Bitcoin topped 399 days later November 03 2020 = Bitcoin topped 371 days later This model indicates that even if we can't estimate accurately BTC's top in terms of price, we can time it. And based on the November 05 2024 elections, historically the minimum time it could time for BTC to reach a new Cycle top, would be 371 days, giving us a rough date around the week of November 10 2025! But what do you think? Is Bitcoin about to get the boost of its life after the U.S. elections? And if yes, is it realistic to expect a top around November 2025?? 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
53
Continue to buy BTCUSD in the short term?Hello everyone! What’s your take—should we be buying or selling BTCUSD right now? Currently, BTCUSD is seeing a slight pullback, but it remains on a short-term uptrend after breaking through the recent resistance at $63,800. My strategy: After careful observation, I’m leaning towards continuing to buy, as strong support has been established with price repeatedly bouncing from this key level. Wishing you all successful and profitable trading!
BITSTAMP:BTCUSDLong
by Suyouu
Bitcoin Pin Ball Back To 60K?Bitcoin rallied off the mid 50Ks as per my illustration in my previous article and has tested the 64K resistance area. Reacting to levels within a range is typical and in these cases it is important to pay close attention to the short term price structure and relative support/resistance levels. While NOTHING works 100% of the time, this technique is how I am able to ANTICIPATE price movements consistently. Until the short term structure changes, I am looking for a brief retrace back to 60K followed by a reversal to a higher high. This is this expectations UNTIL the market proves otherwise by changing its structure. For conservative swing traders this means WAITING for the retrace to place out and for an attractive support to be tested around 60K (see arrow). This level has been notable as a support and resistance for months and is likely to play a key role going forward. IF price can retest this level this week, I will be looking for CONFIRMATION in order to justify risk. This can come in the form of an inside bar or pin bar on this particular time frame. For smaller time frames, it is possible to find lower risk entries that still have similar profit potential. To attempt to synchronize with the larger time frame and effectively mange such signals is the whole purpose of my script (Trade Scanner Pro) but it does require some experience. Either way your goal as a trader should be to be able to make effective choices with the least amount of information (and confusion) as possible. If 60K is never tested (anything is possible), then the strength implied by such a scenario can carry price into the 66K area or higher and it can happen fast. The best way to capitalize on this is utilizing smaller time frames like 30 min or lower (day trades). Certainly not an area for beginners unless you trade on paper for learning purposes. It only looks EASY when it is a win AFTER THE FACT. IF 60K is compromised completely, that would cancel out the bullish scenario previously mentioned. You have to be prepared for both bullish and bearish outcome because getting married to a forecast is not optimal in an environment that is MOSTLY random. Focusing on RISK and adjusting to new information (changing levels/price action) is key. If you are having a hard time in this environment, stop and question the sources of information you are consuming. The error usually begins there. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
8
BTC 4hr Gartley support and resistance 9/22/24 Gartley Pattern: This updated chart seems to continue the earlier observed structure, resembling a Gartley pattern. The key points in the structure are: 1. X to A: The steep uptrend from February to the peak around April/May, marking the first major leg of the pattern. 2. A to B: A decline starting from May to around June, signifying the downward retracement of the first leg. 3. B to C: The rebound from June to around August/September, forming the second leg of the W-shape. 4. C to D: The final leg is projected upward, suggesting that the price could rise again towards the $70,000 level, completing the pattern. This structure implies a bullish Gartley pattern, where a final leg to the upside is expected if the key Fibonacci retracement levels hold. Fibonacci Levels: Using Fibonacci retracements and extensions helps confirm the strength and potential of this pattern. XA Retracement (A to B): In a Gartley, the retracement from X to A (the first decline) typically hits the 61.8% Fibonacci level. In this chart, the decline from May to June retraces a large portion of the previous uptrend, indicating a strong move. The sharp retracement aligns with the idea of a Gartley. AB Retracement (B to C): The retracement of the second leg (B to C) is commonly between 38.2% and 88.6% of the AB leg. Here, the move from June to August aligns with this, forming a significant bounce. CD Extension: The last leg (C to D) typically extends to 127.2% to 161.8% of the BC leg. The projected upward movement toward $70,000 fits within this Fibonacci extension zone, which would mark the completion of the Gartley. Support and Resistance Levels: Support: Key support levels are around $48,000 to $50,000, which has been a consolidation point before the projected upward leg. This is reinforced by both the Fibonacci retracement and previous price action. Resistance: The final target of the upward move aligns with $70,000, where a Fibonacci extension matches earlier highs. Conclusion: The chart suggests a bullish continuation in Bitcoin’s price action, following the pattern's upward projection toward $70,000. The Gartley pattern and Fibonacci levels reinforce the potential for this upward move, provided the key support levels hold above $48,000. Traders might look for buying opportunities near the current support zones, while watching for resistance around $70,000.
BITSTAMP:BTCUSD
by ILL_Midas
BTC Gartley 9/22/24Gartley Pattern Analysis: The structure on the chart resembles a bullish Gartley pattern, particularly the W-shape. A Gartley pattern generally starts with a sharp movement (X to A), followed by three price swings (A to B, B to C, C to D) which often retrace at specific Fibonacci levels. Here's how it lines up: 1. X to A: The first downward leg, where the price declines, seems to be from the April high to the May low, which marks the beginning of the pattern. 2. A to B: A sharp upward movement post the decline (May to July), forming the first leg of the W-shape. 3. B to C: The retracement downward from the July peak to the late July low. 4. C to D: This last leg seems to be heading upward, as suggested by the W-shape pattern, targeting higher levels near $68,000. Fibonacci Levels: In a bullish Gartley, key Fibonacci retracement levels are critical in determining reversals within the pattern. XA Retracement (A to B): Typically, in a Gartley, the B point should retrace about 61.8% of the XA leg. This aligns with the sharp rise seen post-May, where Bitcoin rebounds significantly. AB Retracement (B to C): The BC leg should retrace about 38.2% to 88.6% of the AB move. On this chart, the drop after July seems to retrace less than 50% of the prior upward movement, suggesting the typical behavior of a Gartley. CD Extension: The final leg from C to D usually extends around 127.2% to 161.8% of the BC move. The projected upward target around $68,000 could correspond to a 161.8% Fibonacci extension, which is a typical target for the completion of the pattern. Price Targets and Outlook: The chart shows a bullish bias, especially with the Gartley pattern nearing completion. The upward projection suggests a possible rally towards the $68,000 range. Key levels: Support around $59,000, which aligns with a previous consolidation area. Resistance at $68,000, which matches both the Fibonacci extension target and prior highs from earlier in the year. This suggests that Bitcoin may experience a bullish continuation if the current uptrend holds, with potential pullbacks near $59,000 offering key buying opportunities.
BITSTAMP:BTCUSD
by ILL_Midas
Bitcoin Fibonacci levels 9/22/24Key Observations: 1. Price Level: Bitcoin is currently trading at $62,913, according to the chart. 2. Fibonacci Levels: 0.236: Around the $65,000 range, which has acted as a minor resistance. The price failed to break above this level multiple times after touching it. 0.382: Located near $60,000, which appears to have served as support in recent movements. It has acted as a consolidation zone. 0.618 and 0.786: These levels, roughly around $57,000 and $54,000, represent strong areas of support. The price previously reversed after dipping near these points, indicating buying interest. 1.618 and 2.618: These extension levels are positioned at $44,000 and $30,000. The 1.618 extension shows potential support if there is a more significant drop. If Bitcoin breaks below $50,000, we could see a move toward these levels. Interpretation of Price Action: Current Position: The price appears to be testing key resistance at the 0.236 Fibonacci level. If Bitcoin breaks and closes above this level, it could signal further upside potential, possibly moving toward the $65,000-$70,000 range. Support Levels: If the price fails to maintain the current level, a retracement to the 0.382 Fibonacci level ($60,000) seems likely. Should the price break lower, it may test the 0.618 ($57,000) and 0.786 ($54,000) support levels, where buying pressure could help stabilize the market. Downside Risk: If the price continues declining and breaks through the 0.618 Fibonacci level, we could see a sharper drop toward the 1.618 extension at around $44,000. In extreme bearish cases, the price could head toward the 2.618 extension at $30,500. Possible Scenarios: 1. Bullish Case: If Bitcoin breaks through the 0.236 resistance and continues upward momentum, we might expect a rally toward the previous high levels around $68,000 or even beyond. A sustained break above 0.236 could indicate renewed bullish sentiment, potentially driving the price back into an upward trend. 2. Bearish Case: Failure to break above the 0.236 level could result in further consolidation or even a drop toward the 0.618 level. Breaking below the 0.618 could bring a bearish sentiment, leading to a steeper correction toward $44,000 or lower. In summary, Bitcoin is currently at a critical juncture between resistance at the 0.236 level and support at the 0.382 and 0.618 levels. How the price reacts at these Fibonacci levels in the coming days could determine whether we see a continued bull run or a more significant correction.
BITSTAMP:BTCUSD
by ILL_Midas
BTCUSD Weekend Outlook - Same Targets, Watch for CorrectionsGM crypto bro's, happy weekend! This morning, the Fear and Greed Index remains in the neutral zone, sitting at 54. Overall, today's market update is pretty much the same as yesterday. The next potential target for BTC is still 65K - 66K. Keep in mind, the market is dynamic—don’t get FOMO, and always be cautious of potential corrections because anything can happen. Always manage your risk. That’s it for today’s crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
BTCUSD Daily Outlook - Correction or Pump? Next MovesGM crypto bro's! This morning, BTC is back to the 62K range after previously hitting around 63K. The Fear and Greed Index is in the neutral zone, sitting exactly at 54, while the stoch RSI remains in the overbought zone. Today's market update shows potential for a small correction to the 61K range or maybe lower, but the potential pump target is still around 65K - 66K. Keep in mind, the market is dynamic, don't get FOMO. Anything can happen, so always manage your risk. That's it for today's crypto update, this is Akki signing off. One chart, one love. Have a nice day!
INDEX:BTCUSD
by x_Akki
Bitcoin September 19th 2024 This chart shows the weekly price action of Bitcoin (BTCUSD) from 2021 to 2024, with projections extending into mid-2025. The current price is approximately $63,458, and Bitcoin appears to be consolidating after a strong recovery from its 2022 lows. Let’s analyze the chart's key features and consider how recent Federal Reserve rate cuts may impact Bitcoin’s price in the future. Key Observations: 1. Price Level: Bitcoin is currently trading at $63,458.71, representing a significant recovery from its 2022 low near the $17,000 level. The chart shows a period of consolidation in the $60,000 to $65,000 range after a strong bullish run starting in 2023, suggesting that the market is pausing before its next move. 2. Moving Averages: The chart displays three key moving averages: A short-term moving average (yellow), A mid-term moving average (green), and A long-term moving average (white). The short-term and mid-term moving averages are trending upwards and have crossed above the long-term moving average. This "golden cross" is a bullish signal that typically indicates the continuation of an uptrend. Currently, the price is sitting slightly above these moving averages, suggesting they are acting as support levels for Bitcoin. 3. RSI (Relative Strength Index) at the Bottom: The indicator at the bottom is the RSI, The RSI measures momentum and potential overbought or oversold conditions. The RSI appears to have been hovering in a relatively neutral range, fluctuating around the midline (50). It does not show extreme overbought (above 70) or oversold (below 30) conditions, but there have been recent attempts to push above 70, which could indicate some bullish momentum. If the RSI continues to climb above 70, Bitcoin could enter an overbought zone, signaling a potential correction or consolidation. 4. Historical Context: In mid-2022, Bitcoin entered a bearish period, with a significant drop from previous highs. This was likely exacerbated by rising interest rates, which reduced liquidity and caused risk assets to underperform. The chart shows a strong recovery starting in early 2023, with Bitcoin steadily climbing back to the $60,000 level, likely fueled by improved macroeconomic conditions, including rate cuts and renewed investor interest. Impact of Federal Reserve Rate Cuts: 1. Increased Liquidity and Risk-On Sentiment: When the Federal Reserve cuts interest rates, it typically leads to more liquidity in the market, which benefits riskier assets like Bitcoin. Investors are more likely to seek higher returns in such assets when interest rates are low. The recovery and current consolidation around $63,000 may be a reflection of this dynamic. As money flows back into speculative markets, Bitcoin has benefited from increased buying pressure. 2. Bitcoin as an Inflation Hedge: Bitcoin is often viewed as a hedge against inflation. Lower interest rates can weaken the U.S. Dollar, leading investors to seek alternative stores of value, including Bitcoin. As the Federal Reserve cuts rates and potentially loosens its monetary policy, Bitcoin could see further upside due to this narrative. The RSI’s neutral reading suggests there is room for further price appreciation before reaching overbought levels. 3. RSI and Potential Overbought Conditions: The RSI is currently in a healthy range, with no signs of extreme overbought or oversold conditions. This suggests that Bitcoin’s recent price action is relatively stable and not subject to excessive speculation or panic selling. However, if the RSI moves above 70, it could indicate that Bitcoin is entering overbought territory, which might lead to a pullback or consolidation before the next leg up. This is especially important given the current price consolidation seen on the chart. 4. Outlook and Volatility: The chart shows that Bitcoin has recovered from its 2022 bear market lows, and the moving averages suggest the long-term trend remains bullish. However, volatility is always a concern in the cryptocurrency market. While the RSI does not indicate imminent overbought conditions, the potential for corrections remains, especially if the Federal Reserve changes its stance or if other macroeconomic factors come into play. The $65,000 level represents a key resistance point. If Bitcoin can break through this level convincingly, it may rally toward the $80,000 mark. On the other hand, failure to hold this range could see Bitcoin retesting support in the $40,000–$50,000 area. Conclusion: The recent rate cuts by the Federal Reserve have created a favorable environment for Bitcoin, as evidenced by its recovery and consolidation around $63,000. The technicals suggest that Bitcoin is in a stable uptrend, with moving averages providing strong support. The RSI is not yet signaling overbought conditions, indicating that there may still be room for upward movement. However, caution is warranted, as corrections are always possible, especially if Bitcoin enters overbought territory or if macroeconomic conditions change. The $65,000 resistance level is crucial, and a breakout could lead to new all-time highs, while a failure to maintain this level could see a retracement to lower support zones.
INDEX:BTCUSD
by ILL_Midas