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Bitcoin-consolidation

HelenP. I Bitcoin can make retest and then continue to growHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price some days ago BTC dropped lower than support 2, which coincided with the support zone, but soon turned around and made a strong impulse up. BTC reached support 1 and then some time traded near, even entering to one more support zone. Later, when the price entered the support zone a third try, it broke support 1 and rose until to the trend line, after which turned around and dropped to support 2, breaking support 1 again. Also, the price started to trades inside consolidation, where it some time traded near support 2 and then rose to support 1. But then BTC at once dropped to the support zone, after which it turned around and made a strong impulse up, breaking support 1 and exiting from consolidation. Also, it broke the trend line recently, and now continues to move up, so, I expect that BTCUSDT will make a retest of the trend line and then continue to grow. For this case, I set my goal at 66400 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
11
HelenP. I Bitcoin will make correction and then start growHi folks today I'm prepared for you Bitcoin analytics. A few moments ago price traded near the support level, which coincided with the support zone, and later declined to the trend line, breaking the 66900 support level. But soon, BTC turned around and made a strong impulse up to the resistance level, breaking the 66900 level one more time and even soon entered to resistance zone, breaking the 70700 level too. After this, the price in a short time declined to the trend line, which coincided with the support level, breaking the resistance level again and also starting to trades inside consolidation. In range, the price rebounded from the trend line and moved up, after which made a small correction move. Then BTC reached a resistance level, which coincided with the top part of the consolidation, and rebounded down to the trend line. Recently price broke this line and now Bitcoin trades below the trend line inside consolidation. So, I expect that BTCUSDT will almost decline to the support level, after which turn around and start to rise to the trend line. When the price reaches this line, the price can break it and continue to move up, therefore I set my goal at 69300 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
1
HelenP. I Bitcoin can make little move up and then rebound downHi folks today I'm prepared for you Bitcoin analytics. If we look at the chart we can see how the price some days ago in a short time rose to the 61600 level, which coincided with the support zone and soon broke this level. After this, the price some time traded near this level and then rebounded up to the resistance level and even entered to resistance zone, after which BTC reached the trend line and turned around. Then, the price declined below the resistance level and started to trades in consolidation, where BTC first fell to the support level. After this movement, the price turned around again and made an impulse up back to the resistance level, breaking the trend line and trying to break the 71400 level, but failed. Price some time traded near the resistance level and later rebounded down to the trend line, after which a not long time ago BTC bounced from this line and started to rise. Just now, I think Bitcoin will rise a little more and then rebound down to the trend line. For this case, I set my target at 62800 points, which coincided with the trend line. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
2
Bitcoin Status: Biting our nails waiting for what's next?Everything feels and looks stagnant, what's going on? As mentioned before, it needs to correct a little bit, before it picks up again, which is (again as I said) .. fine. It does not mean that Bitcoin will retrace below the 25k. What I will do personally, is wait till tomorrow, I assume there will be a trigger over the weekend, that will move the markets. *Follow me to be able to receive updates like this (Of course, watch the video as I am explaining everything in detail).
BITSTAMP:BTCUSD
by ChemastroOfficial
4
The BIG Bitcoin Video Update!!! 25K or BUST!Conquerors! It has been a while since I made a tradingview update. I decided to make my newest video update here so everyone has the ability to see it. BTC has been in consolidation now for 9 FULL months (resistance 25k, support 16k). We have had the ability not to turn 25k into support, and we still have a chance too. Watch the video to find out why 25k is SO important. Crypto is in very interesting times and I am hoping for a new bull run but the economy and other markets give me reason to believe it will be difficult. Still, we have a chance for this, I want to keep us all updated. Have a great weekend everyone!
by ConqueringCrypto
6
Will Bitcoin Continue Upwards? A continuation of upwards momentum for Bitcoin is more likely than any capitulation to the downside. BTC is drawing support on the one hour timeframe from the 21500 resistance line, which developed in the aftermath of the FTX debacle and was confirmed upon this month's upwards price action. We saw the same resistance line rejecting Bitcoin's price on January 18th until Bitcoin finally broke past the line on the 20th. Moreover, February's slight depression in price has not been reflected in either cumulative volatility (which I measure as the reversion between the median and the mean) or the Accumulation/Distribution indicator. This tells that the price is consolidating significantly, despite the macroeconomic conditions or the recent resistance in other risk markets, such as equities. I hesitantly point to a combination of technical reversion to the mean and policy (such as Kraken's staking program in conflict with the U.S. government) for the fall. If the 21500 resistance does not hold, we can expect the next resistance at 20400, at the geometric median. After December began and Bitcoin began to consolidate from its plummet, we saw this median (denoted in yellow on-chart) reject the price twice (on Dec 14th and between the 20th-26th, respectfully), before Bitcoin finally broke through on Jan 10th, starting its current uptrend. Finally, I noticed a few ideas mentioning the RSI and Bitcoin as well as macroeconomic factors for reasons why this current rally could be a bull trap. I included the RSI on this chart because I am aware that, since Jan 23rd, the RSI has turned significantly bearish, producing lower highs and lower lows. I interpret this as the RSI is adjusting to the more muted volatility of the price action following the elevated volatility of the 35% rise over a month, which is just a factor of these indicators not calculating from dynamic lookback periods. As for macroeconomic conditions, we must remember that risk assets trade on forward-looking expectations. As the full effects of federal policy will take months to take effect, and as Bitcoin continues to decouple from a high correlation with the stock market, I expect further consolidation, instead of a lower low, especially given the strength of the rally produced this past month. Support below 20400: 18500, 17500, 16500. Resistance above current price: 22500, 23500, 24600. Strangely uniform levels. Regards, wbburgin
INDEX:BTCUSDLong
by wbburgin
3
The pullback hasn't ended, keep an eye on this!Firstly, I want to say I'm sorry because I didn't announce I was going to take a break from posting this week. But I'm back. Bitcoin broke the $46.2k nPoC (check previous Weekly Review post) right after I published my thoughts, and ww rallied until $48k. After that, we started to see a pullback to around $44k, which got bought up. The main thing I see on this week's price action is that price failed to set a higher high, and, to be even more bearish, it flipped the support level at $47k (0.618 fib, weekly PoC and anchored VWAP) to resistance. But this is not enough. We also see that, on the volume profile, that most of the volume traded is at the top, meaning that a consolidation is what whales are looking for. My targets stay the same (again, check the last Weekly Review): mainly the FVG sitting at $43k. I do expect some crabbing around these prices at the start of the week, to be honest. Lastly, I want to thank you again for reading my posts. Have a good trading!
Short
by config_json
BTCUSD - Wedge and consolidation areaCurrently BTCUSD is breaking down from a small ascending wedge inside a large ascending wedge. (impulse 4) If we continue this pattern we move to 53-54K High end of August , to break down to the 40K support zone in early-mid September. This would, if it holds up, have formed a beautiful consolidation after the past bullish move upwards. I'm crossing my fingers, looking at Alt's that have boomed on impulse 3, and hold up nicely during impulse 4, buying and holding them for this possibly spectacular run. XRP DOGE SOL TRX ADA , are looking good right now.
INDEX:BTCUSD
by MVPMC
5
DOGEUSD - Possibly set up for launchDOGE Looks like its setting up for another bullrun during Bitcoins 5'th impulse move from 45K to 52-54K inside its ascending wedge. Looking at bitcoin nearing its pattern's rising support line and losing downwards momentum, it does seem like it will bottom out here, and soon bounce. Target's for DOGE, kinda hard to predict, but i'll make a sketch, so here are my assumptions: It will pump less in % than last run it will be a slower pump it will have more stops as it meets levels it has gone through already unlike previous run. Comparing with BTCUSD for timing. Good luck with your trades.
Long
by MVPMC
7
BTC Consolidation... Then off to the moon! Bitcoin is consolidating at the same price range as it did back in January. Once we broke that STRONG Resistance, it flipped to Support while BTC Ranged up. Now that same critical level is back to being a Resistance Area. The longer a coin/token consolidates, the stronger the Breakout will be. Think of it as a wall, and the more times we hit it in a short period, the more likely it is to break. Right now, Bitcoin is coiling up, ready to strike. The bulls stepped in with force and held the line $29,500. If you are newer to crypto and just got into the market this year, then you've only experienced up, and this is your first significant drop. You won't ever forget this, I'm sure of it. Take the lessons presented during these events and forge them into your psyche as they will continue to benefit you over and over the longer, you stay in this market. Remember, the market must cause the most amount of people the maximum amount of pain. When you invest and pull a 2-3X, take your initial $ out of the position. Always cover your ass and manage your risk. For now, we stay range-bound from $30k-$42k. We are in no way out of the woods just yet, but we dodged a massive nuke in the market. Depending on what your strategy is, continue to DCA into BTC and strong adults. It's not about timing the market; it's about TIME IN THE MARKET.
INDEX:BTCUSDEducation
by PlanDeFi
BTC - Potential Weekend Breakout Targets & AnalysisThis was quite the week in Bitcoin world. After a very memorable dump, in part aided by Elon Musk, we find Bitcoin painting either a symmetrical triangle (continuation/bearish) or an ascending triangle (reversal/bullish). I posted potential breakout targets, either likely within the next 24 hours. Look for confirmation of breakout with a retest of the respective resistance/support it breaks through, before entering a trade, due to the high possibility of a fakeout or trap. Targets : Bullish: Up to a 10% breakout would be both extremely positive news for Bitcoin and, if I'm being honest, a little unexpected currently. I opted for a more conservative breakout target here, but in reality with how uninspiring Bitcoin's price action is, a bullish breakout could be much lower than 10%. This target would land Bitcoin around a solid point of control and inside the next strong value area from a price volume perspective. This move could posture Bitcoin to resume the consolidation pattern we saw between 55k and 60k. Bearish: Up to a 19% breakout below the current pattern is possible, but the support zone in the upper 40k range will be tested first. Once we drop under ~47k we don't have much support to fall to until the lower 40s, thanks to the Elon breakout in February leaving gaps between 40k and 45k. Overall I'm bullish for this cycle long term, but short term, especially in light of the unusually heavy inflow, sell volume and fud we saw in the past 48 hours, I think we are due for some sideways or bearish price action for Bitcoin in the coming days/possibly weeks. As long as Bitcoin price action moves slowly, altcoins have an opportunity to grow. I'd still set a safe stoploss since Bitcoin is known for sometimes unpredictable and aggressive breakouts of the type that can sink altcoin prices. Overall we continue to see healthy industry/MM investment, with 3 very large (over 10,000 BTC each) investments by industry, with two of those buying Bitcoin over 50k, and the third in the upper 40k range in the past two weeks alone- leading credebility to the theory that Bitcoin price action since March was primarily driven by a prolonged accumulation by MM and industry. Indicators : 4h Stoch RSI: approaching oversold but trending bullish for now 4h MACD: crossing bullish 4h EMA: trending bearish currently, closed under the 20MA on the 12 and haven't recovered over it yet
BINANCE:BTCUSD
by 1BigPapi
Bitcoin on the edge of something big! BTC has been consolidating quite a while in this bullish channel. If it breaks out and we see a close under the channel, we can expect to see a short-term downtrend. If it breaks above the channel, a long position can be made and we should look to retest a new ATH as our target. Here are my targets for a short-term bearish condition. I await a close on the 4 hr underneath the channel. Afterward, profits will be taken at previous support Will BTC remain in the channel? Only time will tell. NOTE: This is not financial advice. Enter any trade at your own risk.
COINBASE:BTCUSD
by Simple_Crypto
BTCUSD, Consolidation: Get Ready for A Breakout!Hello traders! Bitcoin has been a little silent lately. A symmetric triangle has formed in the intra-day chart. Of course, a breakout comes after consolidation. We have a breakout within the next 30 hours! But where will prices go? I will breakdown the analysis I made for Bitcoin. Let us see the key points: 1. Bitcoin has a possible Head and Shoulders Formation Bitcoin has a possible H&S formation. The left shoulder and head are already formed. We just need the right shoulder to break the neckline(green dashed line) for confirmation. If this happens, the price will dive below 30k. The red dashed line will be our trendline after. 2. Very Strong Bullish Trendline still Holds The green dashed line in the chart is still very strong, as the price never went below it since Christmas the last year. This trendline makes it hard for the awaiting H&S pattern to actually complete. 3. RSI is at somehow oversold levels The RSI touched oversold levels already. If the RSI trendline(see chart) breaks along with the symmetric triangle, we can see a good uptrend. 4. The 75 Period SMA, former support, is now a tough resistance The 75 MA formerly acted as support in the previous uptrend. After the price went below it and tested it for a pullback, the MA restricted any price movement from there. 5. Lower volume with the symmetric Triangle As the symmetric triangle develops, the volume keeps getting lower. This is saying that Bitcoin traders are undecided. This means that the breakout will be very strong. 6. The Elliott wave maybe a Correction wave or a Trend Wave If the green dashed line breaks down, we have a trend wave. If not, we have just a correction wave, meaning the steep dive form 41k was just a pullback. Now, we just wait for the symmetric Triangle to break in either direction. Good luck, thank you! Don't forget to like and follow for more
BITSTAMP:BTCUSD
by Trader_ph
4
Bitcoin: No Action At Range Low Good For Longs?U.S holiday price action appears to be playing it's part in Bitcoin's slow price action, but this doesn't change anything. Bitcoin is in a consolidation within a broader BULLISH trend since April. Price continues to probe range lows which does NOT provide any evidence of progress or TREND on our time frame of interest. Keep in mind weak markets BREAK supports, they don't maintain them for long periods. The 8500 area is the key support that we are referencing in order to anticipate the herd mentality and gauge risk. In this video I will further explain the probability and potential of the current price location and why we continue to manage our swing trade LONG. There is a lot of confusion around the concept of "trend". It is actually a very subjective idea which should be rooted by the TIME FRAME that your strategy utilizes. For example, if you are only interested in a higher frequency of trades, small targets and tighter stops, then a small time frame is appropriate. If you are trying to gauge risk and participate in broader market moves (as in 1000s of points) then small time frames (less than 8 Hrs) will only blind you. Many traders will argue that the "trend" is bearish because of some random structure on a 1 hour chart, but that information carries no weight within the scope of OUR long ONLY swing trade strategy. Testing the 8800 and 8900 areas is not even close to compromising the 8500 support. The fact that buyers continue to step in (tails on recent candles), can be interpreted as strength. As long as this entire range (8500 to 10,400) stays intact, it is likely to act a continuation pattern and since the larger trend is bullish, probability still favors a bullish move (higher lows lead to higher highs). Until this structure changes (like a break of 8500), judging it any other way on this time frame is just asking for lower probabilities. Slow markets like these require a LOT of PATIENCE, and a strong understanding of how price structure shapes expectations. The evidence that carries the most weight continues to point to a bullish outcome, but there is no way to know when this will unfold. A few minor pullbacks into the low of the range is nothing more than NOISE and should not be confused with a trend on this time frame. A surprise catalyst can come out of no where, and next thing you know everyone is "predicting" 20K again. If you want to win, you must be positioned ahead of the herd, not react with it. We will continue to hold our long from 9225 and if it gets stopped out, we will wait for a new signal to go long again (unless price breaks 8500).
BITSTAMP:BTCUSD
by MarcPMarkets
7
Everyone is so bullish on Bitcoin it hurtsBitcoin has had an incredible recovery from the liquidation cascade/fire-sale back on March 12 which drove the price from 9150 to 3850 in a matter of days. From the lows, we pumped over 160% - insane. But now that everyone is super bullish, a slow bleed downwards wouldn't surprise me, especially considering that the trend seems well and truly over-extended at this point. However there is no denying that we are in a local uptrend, or that the bulls have reclaimed an important level. There is a very real bullish case to still be made so I can't count that out. In either case I expect that we deviate from this range quickly, otherwise we risk spending a long time grinding sideways + lower. Max pain is usually the way with these markets now that I think about it. So what is the chart saying? The MACD is showing a massive bearish divergence. It was already over-extended at 7400, and now seems ridiculous to me. We are in a rising channel which seems likely to breakdown soon, though we may see a small bounce/scamwick upwards first. If we can break 10k convincingly on a bounce here I'll certainly be jumping in long but I'll be watching closely in case it is a trap and I need to pull out. Otherwise it looks like more pain on the downside will be in order. Bulls have completely failed to regain any control after the dip on Thursday and have been showing increasing weakness since we rejected the highs at 9900. 9300 has held great as an overhead resistance over the past 2 days, and until that changes, my bias is on the downside and I am positioned accordingly. Target of a swing long from 10,000 will be to close 50% at 11,600 and 50% at 13,000 and see what happens there (if we get there). Target of short trade will be 6,900 - will be very flexible depending how price reacts at certain levels. It's 1am I need to go to bed. Never over-leverage if you want to stay in this game. Stay wary.
BITSTAMP:BTCUSDShort
by Pillarstric
Trader/Investors must understand this process.......!Kindly comment with " Yes " for agree and "No" for disagree with this post: Before the break-out, I've informed that " Breakout will give truck of Money. ..!". Exactly, we seen this statement was TRUE, didn't it? (End of idea link is added about this idea) Let's talk step by step was happened here. The Width of congestion area was equal to height of the price surged. From my personal experience and the survey/observation I'm talking about this is almost the same area as price congestion in size of width and height after the price break. Let's try to explain in another words: Horizontal width of congestion size = Vertical price move after break-out. (Generally, i noted that price moved away so far after breakout whenever congestion area is much longer.) --> Let's talk little more deeper about CONGESTION area: In the congestion area, accumulation or distribution process process. We will talk about accumulation only because, this was happened here. Accumulation : smart money, money makers, huge fund-management, landlord of global investors whatever you called them they grab/connecting instrument(stocks, currency,etc) from retail investors in very slow motion because, they can smell insider upcoming news. After the completing this accumulation, news clear and price start to go away from the breakout area. later i will try to explain you more deeper about it practically. Yes, obviously we can smell the process accumulation/distribution.
BITSTAMP:BTCUSDEducation
by Jay_shree
159