BTC - 1H fall possibilityBitcoin's challenge with the resistance zone is evident; it's yet to muster the strength to break through.
Presently, I'm anticipating a potential decline. Keep an eye on this space for updates.
Bitcoin-btcusd
$BTC bearish continuation#bitcoin price is declined hard from the top of the falling channel and 66600 #usd (getting more interesting) resistance zone. Now, #btc has weakened structure in short term.
Chart formed bearish head and shoulder pattern. I expect bearish continuation with choppy moves , dead cat bounces etc. The target may the bottom of the channel 57 - 58K zone. Also there' s nice liquidations there.
If #btcusd price follows this path, #altcoins will surely suffer more. When most of #altcoin prices retraces to their retest zone of 2023 October - 2024 march bull run, then i expect very favorable bounces from #alts there. We may see a minor #altseason when this happens. But i say "minor".
Not financial advice. DYOR.
✏️ Weekly Report: Weak Bounce & Weak $META MARKET OVERVIEW
A weak bounce in the market this week, which lifted stocks modestly off their lows though most stocks are struggling to recover a significant portion of their recent losses.
Tonight, Meta Platforms ( NASDAQ:META ) is adding more downside pressure on growth stocks after it announced weak guidance numbers and the stock collapsed $75 lower in afterhours trading.
Let’s start the charts with Nasdaq-100 above (QQQ)
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NASDAQ:META
NASDAQ:SMTC
Constructive pattern. Closed just above the $33 buy point, however I would like to see more volume pick up from here.
NASDAQ:MSFT
The stock needs strong earnings today to get past $431 would be a place to open a position. However, slicing through the support level at $395 is a sell short point for aggressive traders
GOOGL
Massive weekly Cup with Handle base. Earnings are coming today. Technical buy place is $160.25 if earnings are good and we have good volume.
NASDAQ:KLAC
This company reports earnings tomorrow. A move above the $687 is a buy point. However, weak earnings below $680 is a logical short.
NASDAQ:NVDA
Bounced to the 50D SMA (red) and turned down. Aggressive play for the intraday traders is a move over the $880 on a strong volume.
NYSE:GS
GS is just a little bit extended over the proper buy point. If the market starts rallying this could be a good short trade. I would be extra tight with stops here (around $414 level) if I was to play this.
BINANCE:BTCUSD
Bitcoin is performing a tight pivot. Over the blue line is a technical buy point (if we have good volume too)
BITCOIN This is where historically the fun begins.Bitcoin (BTCUSD) has successfully tested and held the Mayer Multiple (MM) Mean (red trend-line) and is now consolidating. As you can see by the green arrows, this is the point where historically the most aggressive part of the Bull Cycle begins, as even in the occasions where the MM Mean broke marginally (July 2013), the rebound that followed was even more impressive and strong.
We can actually get a progression out of those sequences as if we measure the Fibonacci extensions from the MM Mean's Low and the High before it, we can see that Cycle 1 peaked marginally above Fib 2.0, Cycle 2 was +2 Cycle 1's Fib i.e. 4.0 and Cycle 3 was +2 Cycle 2's Fib i.e. 6.0. We can assume, of course always with the relative degree of uncertainty that Cycle 4 might be +2 Fib more of Cycle 3's Fib i.e. 6.0 + 2.0 = 8.0.
Unrealistic or not, that gives us a $300000 projection and is undeniably technical as those are the exact High-to-Low measurements at the time it touched the MM Mean.
But what do you think? Is it possible for BTC to peak at such a high level on this Cycle? Feel free to let us know in the comments section below!
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ETHEREUM → Consolidation continues. The market is waiting for...BINANCE:ETHUSD is declining following BTC on the back of the crisis in the Middle East, but the price still has not left the sideways range and even more so has not passed through the risk zones, which still leaves the coin in a favorable prospective area
Ethereum is trading in a bullish plane, above the previously broken resistance of the upward range, which tells us that the market is in a bullish trend phase forming a retest of support as part of a counter-trend correction.
The entire cryptocurrency market is standing still in anticipation of a bitcoin halving, which could happen in 3 days. How the market will react is unknown, there is a high probability to see a long-slide before further growth or growth at once.
Resistance levels: 3200, 3730
Support levels: 2910, 2850, Channel Border
Technically, another retest of the support is possible, but we should wait for the formation of a reversal pattern relative to the lower levels in order to catch the growth. Or we should pay attention to 3200 and wait for the formation of a pre-breakout setup and trade the breakdown of resistance.
Regards R. Linda!
BITCOIN → Continued consolidation before a strong move BINANCE:BTCUSD is testing 71572 and forming a false breakout, I have emphasized our attention to liquidity above this level in a separate idea. Trading inside the range after capturing liquidity continues and the market appears to be preparing for a halving.
(April 6 idea: BITCOIN → Trading inside a sideways flat. ↑ 75K or ↓ 60K?)
The false break of resistance and 8.5% retracement indicates that the coin is not ready to go up yet, but at the same time it is not ready to go down, as indicated by the MA-50 retest and the candlestick pattern, which can be interpreted as the activity of strong buyers protecting the market from falling. On W1 we see a strong growth, which gradually turns into consolidation and does not give any correction or technical pullbacks - this indicates the strength of the market, the bulls are watching the price and continue to stand in their bullish stand in order to throw the price even higher.
Resistance levels: 71572, 73679
Support levels: 0.236 fibo, 64545, 61447
After the resistance retest, the market may be interested in the lower zones from the liquidity point of view. Bulls are actively defending them and holding the price, but before halving the price may try to drive it lower in order to liquidate traders and accumulate potential before further strong price movement
CME:BTC1! BINANCE:BTCUSDT CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2
Regards R. Linda!
Rising Wedge on 4 HourAs BTC trends up these past few days, it has formed this bearish ascending wedge on the 4 hour. It is something we should be tracking as we get nearer to a break down.
Stew
Approaching resistance at 61.8% Fibonacci retracementBitcoin (BTC/USD) is rising towards the pivot which has been identified as a pullback resistance. Could this crypto-currency stall around this level before potentially reversing to drop towards the 1st support?
Pivot: 67,959.86
1st Support: 64,549.56
1st Resistance: 71,123.59
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
BITCOIN BUY TO $77,500 (UPDATE)📉Bitcoin buy position running 220 PIPS in profit since I posted this analysis. Nice move up so far, with much more expected towards a new all time high!
$BITCOIN' s fate#bitcoin price now testing the 1D ichimoku cloud resistance and also newly claimed 4H cloud. With 59K dip, #btc surged a bullish inverted head and shoulder pattern and bounced well.
Now, upper orange box is the deadly resistance zone. Why? Because, #btcusd formed a wedge for 2 months, price breakdown the triangle and now hanging below the triangle. If CRYPTOCAP:BTC will continue this bull, it must reclaim the triangle and then breakout the wedge. Upper orange box is the test zone if it goes to reclaim the trend.
If price declines from the upper orange box, then #btcusdt price will confirm the bearish retest and the lower orange boxes will be the support zones and probable targets.
Not financial advice.
BTC Support off 60K? : 62250 Confirmation needed30 Min Supertrend / Ehlers VIDYA Stragety.
Significant touch back to 60K price level.
BTC failed to make a NEW all time high after the 73.6k new all time high was achieved.
Upon failure, new lows have continued to 60k.
30m Stragety signal shows support @ 60k touch.
Stragety signal and NEW UPtrend will confirm the 60k BASE, with a Heikinashi close @ or above the trailing cloud line (Ehlers VIDYA) - currently at the inception of the signal at 62250.
62250 confirms 60k BASE.
Bitcoin could have finished correctingLast week, BITSTAMP:BTCUSD tested the waters at the important 62k support level and even dipped below it momentarily, driven by news regarding tensions in the Middle East. However, after touching the significant 60k mark twice, the price swiftly reversed, signaling a false breakdown.
The price quickly rebounded above both the horizontal support and the descending trend line of the wedge pattern. Currently, it is trading comfortably around the 66k zone, which serves as short-term resistance. In my opinion, this resistance level will also be breached, paving the way for a rise to 69k.
I maintain a bullish outlook as long as the 63k support level remains intact, and I'm actively looking to buy during any dips in the market.
Bullish rebound for crypto?Bitcoin (BTC/USD) has made a bullish reaction off the pivot that has been identified as a pullback support. Could this crypto-currency potentially bounce higher towards the 1st resistance?
Pivot: 61,137.02
1st Support: 52,090.03
1st Resistance: 71,810.70
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
$BTC formed a bearish structure in short term#bitcoin #btc minor retracements are necessary for short term. Not financial advice.
Is this $BTC bounce is a bull trap?Can't figure out this bounce as a start of megabull, rocket etc. #bitcoin #btc is now hanging in ascending channel and declination from this channel may trigger #btcusd price to take liquidations around 58 - 60K. It's a probability.
Invalidation: If BTC reclaims 71K.
Not financial advice.
When Will "Real" Bullish Run Is Starting?This parameters basically shows you the cash money investors holding in their pockets right now.
Currently, Total Blockchain market has 2.28 Trillions of dollars inside.
USDT and USDC are most commonly used stable coins if we don't include FUSD which is not going to be mentioned in this section.
Let's assume that all Bitcoin investors and traders holding their dollars and whatever currency they're using in stable coins.
According to this hypothesis, all USDT Dominance level (approximately) currently is; %4.81
Also approximately all USDC Dominance Level currently is; %1.45
When you check the major addresses on chain data that holding bitcoin right now, you'll notice that their breakeven levels is coming closer. So it's basically means that they are buying more and more whenever the price goes lower. Especially, Coinbase whales and major addresses helped us to recover on Bitcoin after the last crash. Historically, it's a good idea to follow this guys before invest. They are the ones who simply runs the market.
Let's go back to the chart and examine the Red Key Levels on the chart.
First Key Level that broke below through %8 gave us a minor bullish run. Not all coins that you trade all day maybe but Bitcoin consumed most of the money that comes with the benefits of ETF's. It will happen again, Bitcoin will dominate the entire market ones more. Bitcoin mostly will rise all alone and the other altcoins (especially top 100) will watch from behind. It's simply because of ETF's. EMA 100 is about the broke (Daily) while I'm writing this which is an important indicator that I'm using in parameters like this.
All short term price action basics and indicators simply telling me that Bitcoin may see another drop for a week or more but it won't matter if you can resist against it. Just hold on for a couple of more days and wait.
Hong Kong and London are about to start an ETF' run (London is a little bit different but doesn't matter).
Halving is about to come within a few hours which is the most bullish thing this market will ever see in its entire life.
When the Red Key Level is broken (Let's say closing a week below %3.74) you will see Bitcoin in a level which you probably never expected. I expect Bitcoin to reach at least 200.000 $ until this real bullish run ends. When the 3.74 broke, Bitcoin will rise but ALTs may not due to ETF's and Bitcoin Dominance. If you are a trader, just focus on the chart, if you are an investor read below carefully.
Basically, it doesn't matter if the price goes low or lower anymore. When you see the price is dropping, DO NOT be the ones who scare and run away. They are the ones we need to keep this market alive. Do not be market's liquidity, be the one who consumes it.
If you see the price low, you BUY.
If you see the price is going lower, you BUY AGAIN, and again, and again, and again.
This is where the real bullish run begins.
Good Luck to us all.
🟠 BITCOIN MULTI TIMEFRAME: ZERO MOMENTUM IN PLAY 🟣🟣 Hey there, @TradingView fam! Ready for some fresh Bitcoin analysis? We've got a juicy update for you, covering multiple timeframes and packed with insights from key indicators.
If you're diving into this post right now, show us some love with a thumbs up! And don't forget to jump into the comments section for some lively discussion. We'd love to hear your thoughts! Let's dive in! 💜
Let's kick things off with a look at the daily perspective. We've plotted the EMA 20, EMA 100, and a Triangle Pattern.
Triangles are interesting because they often signal a temporary pause in the prevailing trend. This happens as buyers and sellers push against each other, causing momentum to dissipate. While triangles are fairly easy to spot, trading them can be tricky. Prices can get stuck for a while without any significant breakouts, and when a breakout finally happens, it can sometimes be a false signal, leaving traders scratching their heads.
Now, let's talk about the exponential moving averages (EMAs). They're great for tracking trends because they give more weight to recent price action. Currently, the EMA 20 is above the EMA 100, indicating a clear uptrend. In this scenario, these EMAs act as dynamic support and resistance levels. The EMA 20 offers short-term support, while the EMA 100 serves as a long-term support line.
Check out our tutorial on trading triangles to learn more about how to navigate these patterns:
So now, let's talk about RSI - it's a pretty handy momentum indicator that's all about spotting when the market's either feeling overbought or oversold. When RSI drops below 30, we're talking oversold territory, and when it shoots past 70, we're looking at overbought conditions.
Funny thing is, lots of folks get it wrong, selling when RSI's high and buying when it's low. But you know what? Sometimes the market keeps on climbing even with RSI above 70, and it can still drop lower when RSI's below 30.
Now, here's a neat trick with RSI: instead of just using those standard 30 and 70 marks, we tweak it a bit. Push the upper band to 60 and lower it to 40. So, when RSI's cruising above 60, it's telling us the market's got some solid upward momentum, and when it's below 40, well, things are getting bearish momentum.
Taking a peek at Bitcoin's charts, both on the daily and 4-hour timeframes, RSI seems stuck in the middle, indicating there's not much momentum swinging either way. But hey, Bitcoin can flip on a dime, right? That's why it's crucial to keep an eye on RSI, especially with the halving on the horizon.
By the way, don't forget to check out our RSI tutorial! It's packed with valuable insights to help you master this powerful momentum indicator:
Now, onto the SuperTrend indicator - another nifty tool for tracking trends and spotting reversals. We've fine-tuned the settings for Bitcoin, setting ATR to 5 and the multiplier to 2, based on some solid backtesting data.
Looking at the daily timeframe, SuperTrend 's giving us sell signals, but hop over to the 4-hour chart, and suddenly it's flashing a buy opportunity.
Thing is, though, the EMA combo still looks bullish, and RSI's not showing much oomph. So, that early SuperTrend buy signal? Might be a bit premature, you know?
And here's something fascinating on the monthly timeframe: Bitcoin's showing seven straight green candles. That's unheard of! Last time we saw anything close was back in 2021, with six greens in a row during a post-halving bull market.
In conclusion, April 2024 poses challenges for both buyers and sellers of Bitcoin, potentially resulting in false entries. The market likely needs to recalibrate following 7 months of growth, presenting an opportunity for early investors to capitalize on this shift. Stay informed and explore our other educational resources and posts.
Strifor || GOLD-19/04/2024Preferred direction: BUY
Comment: The drop in tensions in the Middle East may have a negative impact on gold , but the technical part indicates the next surge upward. The US dollar is expected to continue to weaken, which could also strengthen gold's position. We are considering two long scenarios, where the most likely scenario №1 indicates a fall first before growth towards the level of 2450 . The unlikely scenario №2 assumes an increase from current prices.
In the future, we can consider a target near the 2500 level.
Additional comments on this trade will be provided as situation changes. Follow us!
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Strifor || GBPUSD-19/04/2024Preferred direction: BUY
Comment: The British currency also remains on the long sheet. Here, too, at the beginning of the week, as with the euro, we gave priority to purchases. Unlike the euro , this currency pair updated its local minimum, which made it possible to collect additional liquidity and liquidate “extra” buyers before potential growth.
The growth target remains at 1.25346 , growth to 1.26000 can also be considered. Both scenarios are activated.
Additional comments on this trade will be provided as situation changes. Follow us!
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My Formula for BTC price at halving calls for $58,990 on 4/20
My formula I works out for the previous three halvings accurately within 1% or 2% and I believe could and should continue to work for every event in the future. It called for a price of around $58,990 on day of 2024 halving. I wrote the formula in March 2022, If you want more details and proof then send me an email, my address is my profile name at G mail.
#btc is testing the local trend resistanceIf #btc #bitcoin succeeds in breaking out this trend line and ichi cloud with daily close, #cryto and #altcoins will be more optimistic for a while.
Intraday, Swing Opportunity in BITCOINOANDA:BTCUSD
Entry: 61096.3
Target: 62400
Indicators like MACD and RSI also show bullish signals.
Elliott wave theory also indicates that wave c of flat correction is completed. If the analysis is correct 61096.3 can break.
An update on the bitcoin dominance charts double bottom patternWe can see that Bitcoin dominance is still on its way to the full breakout target from the double bottom pattern it broke up from a couple months ago. After breaking up from the neckline of the double bottom pattern it formed a bullflag and seems to have just recently broken upward from that bull flag. The target of the bullflag breakout lines up nicely with the double bottom breakout target giving us some nice bullish confluence to increase the probability of hitting the full target of about 57.18%. Once bitcoin reaches this level, it would not surprise me if thats when alt really start to pump afterwards. We shall see soon enough if that will hold true. *not financial advice*
