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Bitcoin-btcusd

📈Bitcoin price correction / Targets for the Bearish market📉BINANCE:BTCUSDT COINBASE:BTCUSD Hello dear traders. Let's make it simple. Bitcoin will retest lower levels around 43K. (But the most important dynamic level is the Daily Bollinger midline.) If the price breaks below the specified area, Bitcoin can fall towards lower targets of $40,000 to around $37,500. Many analysts are predicting a sell-off after the approval of the Bitcoin ETF.("Sell the news") ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾
Short
by CrazyS
12
BITCOIN - BOOM! Caught The Top! ✅There we have it folks! Another top caught perfectly! In our last few analysis, we mentioned that we were in a 535 zigzag and we're approaching a reversal point. We hit the ascending channel perfectly before reversing. Those that were following our analysis closely would have caught it. Well done! We'll be holding our shorts and actively managing our positions as we move lower. There will be quite a few safe entry opportunities on the way down so we'll update once we see it. Again, well done to those that caught the top from our previous analysis! Goodluck and as always, trade safe! See our previous analysis below:
INDEX:BTCUSD
by WicktatorFX
15
My 2023 Bitcoin ShortSince September 2023 Bitcoin has been in a rally predicated on the Bitcoin ETF launch. The chart has setup in accordance with my technical rules to finally short (bet against) the price action. I am also going to use this post to expand upon my broader bearish outlook on Bitcoin at present and into the future. I was definitively Bullish on Bitcoin in Q1 if 2023 (see linked past Bitcoin posts here on Tradingview) but I am now of the opinion this rally has stalled and will reverse. -The Trade:- Bitcoin has hit a MAJOR Resistance of the 50% Retracement from the All Time High to the November 2021 low at 42235 (see chart below) which I have been noting in my Weekly Livestream all year. Price overshot the level but as we go into this weekend price will close above or below it to reject or confirm it as Resistance. This Sunday night Weekly bar close will affect my outlook. Within the "impulse" move off the recent high the 50% level is 42457 and is remarkably aligned with the wider 50% level. The first profit objective of my short it the 50% of the September onward bullish trend at 34800 but will be a partial take profit with some left on for more bearish action. If price closes back above the 50% Retracements this weekend and/or a new recent high is made then it is likely I will close my short and re-evaluate. To express this trade I am not "shorting Bitcoin" proper but rather buying Puts on AMEX:BITO with expirations in June 2024. Weekly 50% Retracement view: -Bitcoin ETF: "Buy the Rumor, Sell the News"- I remain of the opinion that the Bitcoin ETF Launch will be a "Buy the Rumor, Sell the News" type event. Much optimistic speculation has been placed upon the prospect of "Boomers Buying Bitcoin" because now they (retirees and institutions) can purchase Bitcoin in their retirement accounts. As I noted, I am expressing my trade using BITO which is a Bitcoin Trust instrument. There are already plenty of Bitcoin derivative products available for typical investors to use. Ergo, it is not obvious to me how an ETF launching will change the landscape significantly. Furthermore, I am reminded of a similar event in the past; the launching of CBOE Bitcoin Futures. Futures on Bitcoin launched on December 17th, 2017 literally marking that high and the end of that rally. -Price Outlook: Things are Different Now?- The bullish case for Bitcoin now even after the ETF launches is the coming Halving Cycle. Everyone note that it has created loosely bullish price action 3 out of 3 past times and will likely do so again. First, I do not thins 3/3 is statistically significant. Second, causation or correlation? Was it the Halving Cycle that made Bitcoin bullish or just the fact that it has been going up all this time anyway? One must acknowledge that Bitcoin was born and grew in a 0% interest rate environment which no longer exists. That fundamentally changes the amount of capital that is being infused into Bitcoin which created the 2021 rally. People like to share historical charts and then superimpose them to current price action. Most social media posts you will see are bullish because those are the ones that get the most engagement. No where else have I seen this glaringly obvious (to me) comparison of the current rally in context of the 2019 price action (below). I recall distinctly at that time that everyone was convinced the months prior were just a small hiccup and the new ATH rally was underway. Instead, we had a major economic event (COVID) to come that would push Bitcoin back down to close to the bear market lows again. 2019 versus 2023 -Future Outlook: What is Bitcoin?- The question, "what is Bitcoin?" has been asked for over a decade. I myself became interested in Bitcoin as a "tool for human freedom" that made sense to me from my Information Technology background and Libertarian political leanings. However, I have sadly watched as Bitcoin has been "normalized" in favor of "mainstream adoption" to the point we have reached now where large institutions buying Bitcoin is heralded as an accomplishment. That was never the point... as I see it nor as Satoshi's whitepaper wrote. Over the last few months I have consumed the mainstream (of Bitcoin Maximalist) social media posts and derived that the opinion of Bitcoin is NOT one of replacing the fiat dollar nor disrupting the traditional financial system. Instead the memes have been centered around some flavor or "Buy it now before the price goes higher!" Lost are the memes of yesteryear about Bitcoin combating inflation (due in part likely to the fact that the Fed's actions are actually yielding desired results). The memes around Bitcoin during this rally are frankly reminiscent of Dogecoin COINBASE:DOGEUSD TO THE MOON!!! When I attended the first Bitcoin conference in New York in 2011, we were all excited to do something never done before: buy lunch with Bitcoin. A shop down the street from the hotel venue (which at that time could only hold about 250 people) had setup a terminal to accept Bitcoin as payment. This was revolutionary at the time (there were no online payment apps such as Venmo, Zelle, or Apple pay yet invented). Two things happened: Confirmations were slow. A long queue began to develop as people waited for payments to go through. We got hungry. I sat at a table with Jesse Powell, the hitherto future founder of Kraken, who I estimated was sitting on 10s of thousands of Bitcoin... who paid for his lunch with US Dollars. What I learned in 2011 about Bitcoin was: The technology is slow and cumbersome for transaction volume People that own Bitcoin will not spend it Nothing has fundamentally changed on those points in 12 years despite the smartest of technical and economic experts' best efforts. If we look at the average confirmation time for Bitcoin it stands at 64 minutes and the average transaction fee is $25.11. That latter number has been increasing dramatically since the start of November. It is not because of the bullish rally (which began in September). It is because of the failure of Lightning Network. Lightning network was supposed to fix these technical limitations of speed and fees with Bitcoin by adding a layer on top of Bitcoin. Unfortunately, in late October experts discovered a major vulnerability in Lightning Network's programming that would allow nefarious actors to steal Lightning Network Bitcoin. Since then, over half a decade of work and hopes put into Lightning Network have been dashed as the developers now begin to look at a new implementation. The failure of Lightning Network in no way means "Bitcoin is dead." The Layer 1 Bitcoin network is robust as ever. Bitcoin just remains terribly unsuited to be the replacement for global currency. But as I noted above, it was never going to be because no will spend money today that they believe can buy more stuff tomorrow. It is great for the buyer to wait and buy two hamburgers next week for the price today... but bad for businesses that make hamburgers who will go out of business next week if no one buys hamburgers this week. So what is the "use case" of Bitcoin? If we cite that Al Gore invented the Internet in 1985, when the Internet was 13 years old (like Bitcoin) people were using it to send email, host databases, and order goods and services. We were unaware of the true future use cases of the Internet but many of these uses were already underway and people and businesses were using it to save money and/or sell more goods and services. The Internet was a wealth generation machine: it created value. So it pains me to acknowledge now that Bitcoin has settled on a single use case: "personal wealth generation" and rather than generate new wealth it instead acts as a vacuum of capital. TL;DR: The ETF launch will be a "Sell the News" event. I am now of the opinion that Bitcoin has lost its way to being a disruptive technology. I am of the opinion that this rally will not make a new All Time High.
Editors' picks
INDEX:BTCUSDShort
by norok
124
VECHAIN - Massive Drop Inbound!In our last analysis we identified that we were in wave 4 correction and were looking for one more move lower. We successfully remained below the wave 4 invalidation level, making our current scenario valid. We are expecting price to move lower to 0.013 to complete subwave 5 of wave C. Trade Idea: - look for shorting opportunities with stops above the wave 4 invalidation level (stops above 0.04) - Target: 0.013 and then taper as we move lower Goodluck and trade safe!
by WicktatorFX
2
BTC - Generational Bottom IdeaOk, maxis can start making fun of it because 10k is shown on the chart, but I'm a trader and I trade probabilities. Even if the idea is correct, it won't get there straight and it won't get there in one month. We have three untapped yearly vwaps since 2016, both identified on the chart. I think the first one (at 28k) will come between march and july. The second one is at 1:1 extension of the ATH-15k-48k move, as well as TR pocket - which gave me to the dollar low entries across all markets. It's extension aligns with 1.272 of ATH-15k-48k move, which gives us 7800-7055 area. Invalidation if this idea is above 125k so it doesn't really make sense in that regard, but a 2W close above 56k or a new ATH without a HTF bear divs will make it a very low probability. I'll share a lower time frame idea for long trades, but the areas I'm looking at right now is 38-35, 32-27, 20-16.
GEMINI:BTCUSDShort
by cryptokebab
Bitcoin H4 | Potential bearish breakoutBitcoin (BTC/USD) is falling towards a pullback support and could potentially break under this level to fall towards our take-profit target. Entry: 40,623.88 Why we like it: There is a potential breakout level Stop Loss: 42,102.10 Why we like it: There is a pullback resistance level Take Profit: 38,337.81 Why we like it: There is an overlap support that aligns close to the 127.2% Fibonacci extension level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:BTCUSDShort
by VantageMarkets
1
Testing Support Levels following 50/200 Week SMA CrossI like to consider bullish and bearish scenarios, this outlook would be bearish for at least a couple of months, or even into fall of this year before returning to bullish again. Pre-requisite is losing a daily support area between 36.5-40k This is the 2nd time the 50/200 week SMA has crossed. The first time was a little under a year ago around early to mid-February of last year. Crosses like this, whether bearish or bullish, often get tested, as it did when it saw the 50/200 week SMA death cross last February. We tested it, initially held below the 50 week, and then broke above both the 50 and 200 week SMA before riding along the 200 SMA and finally moving well above; causing the Golden Cross we are seeing now. There could be a possibility that we see another test of the 50/200 SMA following this new crossing, which lies around center of support. Hold support and the crossing to remain bullish above 30k. Lose support and the crossing and we might see a double bottom around ~15.5-17-5k instead. This would also be a re-test of the top of the channel drawn on the chart. A related older bullish channel break idea is linked in related ideas below.
INDEX:BTCUSDShort
by dudebruhwhoa
BTC PULLBACK Currently experiencing a 12-month BEARISH Stophunt on BTC. This pullback is apparently due to Greyscale selling its BTC shares I see we will AT LEAST drop down to 40k, but lower is more than likely necessary for capitulation and a move higher. I see approx areas of support being 39K,35k,32k,30k,26k Anything is possible. I personally would love another OPP to accumulate Alts and as much as possible before the BTC halving event. THANKS FOR YOUR TIME!! FOLLOW AND SHARE FOR MORE! NOT FINANCIAL ADVICE, JUST MY 2CENTS!
COINBASE:BTCUSD
by Cosmicbag
$BTCUSD Bitcoin Bear FlagIn technical analysis, a bear flag is a continuation pattern that can signal a potential downtrend continuation in the price of an asset. It consists of two main components: 1. **Flagpole:** The pattern begins with a sharp and steep downward price movement, known as the flagpole. This represents a significant and rapid decline in the asset's price. 2. **Flag:** Following the flagpole, there is a consolidation period marked by a rectangular-shaped pattern with parallel trendlines, known as the flag. The flag typically slopes upward slightly against the prevailing downtrend. The bearish implication of the bear flag pattern is that it suggests the possibility of further downward movement in the price after the consolidation phase. Traders often look for a breakout below the lower trendline of the flag as a potential confirmation of the continuation of the downtrend. It's important to note that while the bear flag pattern can provide insights into potential price movements, no pattern is foolproof. Traders often use additional technical indicators and analyses to complement their decision-making process and consider the broader market context. Additionally, risk management strategies are crucial when applying technical analysis in trading.
BITSTAMP:BTCUSD
by AlgoTradeAlert
SEC Greenlights ETF but Breakout failed! / Be Aware!!! 🎉 ETF Approval: A Cause for Celebration or Concern in Crypto? Hello, traders! Today's update comes with a blend of excitement and a touch of caution. 🎭 The long-awaited ETF has been approved, slicing through the SEC's comedy of errors. Yet, amidst the celebrations, a sentiment poll reveals a split view: 32% are elated 🚀, 42% content but expected more 😐, and I'm with the 19% feeling a twinge of disappointment 😔. Let's dissect the chart and today's happenings to understand why. 📉🚦🤔 The Missed Breakout: Bitcoin's Resistance Conundrum Despite the bullish news, Bitcoin failed to rally past the crucial support/resistance level. This yellow line isn't just any marker; it's the one I've been spotlighting since January 2023. 🎯 It's where Bitcoin's fate hangs in the balance. 🔍 Technical Analysis: Seeking Direction in the Crypto Winter Aftermath Our journey through the crypto winter revealed strong buy signals at $16K, $20K, with a confirmation dip at $24K, offering numerous chances to go long. However, with the ETF news failing to push us beyond the pivotal level, it's time to ponder – are we gearing up for a major breakout, or is it wise to 'sell the news'? 🤔 📈🚦 Strategic Outlook: Navigating the Crypto Seas Here's the strategy moving forward: Buy the Breakout: If Bitcoin ascends over $48,200, it's a green light. ✅🚀 Sell the News: If it lingers under FWB:48K , caution is your best ally. 🛑📉 🔁 Shifting Focus: Ethereum's Emerging Narrative Switching focus to Ethereum, the ETH/BTC chart hints at a shifting tide in altcoins, while Bitcoin dawdles at resistance. Whale psychology suggests that altcoins like Ethereum and Cardano could diverge from Bitcoin's path. 🔮 Anticipating the Halving: A Glance at Historical Patterns In anticipation of April's halving, historical patterns imply we could witness Bitcoin soar to the $100K-$300K range. Yet, for now, the prudent move is to wait for a decisive breakout above $48,200 or brace for potential retracements to $42,800 or even $40,000. 🧐 🌐 Macro Perspective: The Bigger Picture in Crypto Dynamics Keeping an eye on the macro scene, interest rates, and institutional moves post-ETF will be crucial. Remember, the market typically leads the news by six months. As we navigate these choppy waters, stay sharp and prepared to capitalize on both breakouts and pullbacks. 📊 🔔 Final Thoughts: Staying Ahead of the Curve Just how we did Here and Here and Here and Here One Love, The FXPROFESSOR 💙
Short
by FX_Professor
4
BITCOIN MACD bottom pattern shows when to Buy and when to Sell !Over the years we have discovered many historic patterns applicable to Bitcoin's (BTCUSD) Cycles. With a relative degree of volatility every time, since each Cycle has it's own distinct characteristics and fundamental events that shape it, those patterns can help traders/ investors construct strategies for buying and selling on a long-term scale. This time we have come across a very unique pattern on the 1M time-frame, which can identify where to Buy and where to Sell, near the Tops and Bottoms respectively, on a Cyclical scale. Starting from the November 2011 bottom onwards, each Cycle is measured at either 3.58 or 3.83 years to the point where the 1M MACD bottoms. The last MACD bottom and start of reversal was on February 2023, while BTC was trading around 23k on average. Still not as appealing as the November 2022 16000 but low enough to provide an excellent (and confirmed) long-term dip buy entry compared to the previous $69000 All Time High. At the moment the price is on the 0.236 Fibonacci level of the current Cycle and as you can see on the chart, this is the level where BTC makes a 1-2 month pull-back. The Tops are priced either on the 0.5 or 0.618 Fibonacci levels. This means that long-term investors could take their profits either on January 2025 or July 2025, if the current Cycle lasts again 3.58 years. And as for the next bottom based on the model, it is expected on December 2026, where we can take a (relatively) confirmed buy position again for the long-term. But what do you think about that MACD bottom model? Are you also expecting a new Cycle Top within January - July 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:BTCUSD
by TradingShot
2
Bitcoin Bullish Continuation to 50kCRYPTOCAP:BTC price has been consolidating at highs as we await the imminent ETF approval announcement. At this point a bullish pennant pattern has formed and the daily bollinger bands have tightened, signalling that we will soon see volatility that triggers a breakout. In terms of targets, the fib extension of the chart pattern says 47.3k to 49k. I am keeping in mind however that Bitcoin has never exceeded the 61.8% retracement of the previous drawdown pre-halving. Although the ETF approval announcement could make things different this time. If we exceed 50k, buckle up lads.
INDEX:BTCUSDLong
by HaydenOtto
Sell the News Today OR Buy the Breakout over 48k ?🎉 ETF Approval: A Cause for Celebration or Concern in Crypto? Hello, traders! Today's update comes with a blend of excitement and a touch of caution. 🎭 The long-awaited ETF has been approved, slicing through the SEC's comedy of errors. Yet, amidst the celebrations, a sentiment poll reveals a split view: 32% are elated 🚀, 42% content but expected more 😐, and I'm with the 19% feeling a twinge of disappointment 😔. Let's dissect the chart and today's happenings to understand why. 📉🚦🤔 The Missed Breakout: Bitcoin's Resistance Conundrum Despite the bullish news, Bitcoin failed to rally past the crucial support/resistance level. This yellow line isn't just any marker; it's the one I've been spotlighting since January 2023. 🎯 It's where Bitcoin's fate hangs in the balance. 🔍 Technical Analysis: Seeking Direction in the Crypto Winter Aftermath Our journey through the crypto winter revealed strong buy signals at $16K, $20K, with a confirmation dip at $24K, offering numerous chances to go long. However, with the ETF news failing to push us beyond the pivotal level, it's time to ponder – are we gearing up for a major breakout, or is it wise to 'sell the news'? 🤔 📈🚦 Strategic Outlook: Navigating the Crypto Seas Here's the strategy moving forward: Buy the Breakout: If Bitcoin ascends over $48,200, it's a green light. ✅🚀 Sell the News: If it lingers under FWB:48K , caution is your best ally. 🛑📉 🔁 Shifting Focus: Ethereum's Emerging Narrative Switching focus to Ethereum, the ETH/BTC chart hints at a shifting tide in altcoins, while Bitcoin dawdles at resistance. Whale psychology suggests that altcoins like Ethereum and Cardano could diverge from Bitcoin's path. 🔮 Anticipating the Halving: A Glance at Historical Patterns In anticipation of April's halving, historical patterns imply we could witness Bitcoin soar to the $100K-$300K range. Yet, for now, the prudent move is to wait for a decisive breakout above $48,200 or brace for potential retracements to $42,800 or even $40,000. 🧐 🌐 Macro Perspective: The Bigger Picture in Crypto Dynamics Keeping an eye on the macro scene, interest rates, and institutional moves post-ETF will be crucial. Remember, the market typically leads the news by six months. As we navigate these choppy waters, stay sharp and prepared to capitalize on both breakouts and pullbacks. 📊 🔔 Final Thoughts: Staying Ahead of the Curve Just how we did Here and Here and Here and Here One Love, The FXPROFESSOR 💙
by FX_Professor
3
Is 2024 Set to Be the Toughest Year for the Crypto Market ?Technical Analysis: Right now, the market's showing signs that might point to a 'cup and handle' pattern in the price charts. For those who aren't familiar, a cup and handle pattern looks a bit like a "U" with a slight dip at the end. Not to get too bogged down in details, but interestingly, in early January 2024, Bitcoin's price hit a ceiling around the same high it did back in March 2022, which was about $48,000. From what I can see, it looks like Bitcoin might be on a bit of a downward trajectory in the short term. I'm thinking we might see the price retract to around the $30K-$34K area in the next few weeks, which could be a point where more buyers jump in. However, this is something we need to watch closely because that range might just turn out to be a support level. If the price falls through that $30K-$34K range I mentioned, then I'm expecting it could drop even further, maybe hitting a new low (we could be talking as low as zero or around $10K). News: Switching gears to the news, there's something intriguing about the BRICS nations considering backing their currency with gold. My first reaction is, "Wow," because it's pretty common to want a currency backed by something as solid as gold. But the big question is how this move will affect the relationship between their currency and cryptocurrencies. If this really takes off, it could be a very tough year for the crypto market. Summary: For now, I'm just keeping an eye on the market's pulse and price movements. I haven't jumped into the market yet, but I'm patiently waiting for the right moment and Brics news.
BITSTAMP:BTCUSDShort
by GoldCartel
4