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Bitcoinbullish

BTC → Bitcoin to $40,000? Or to $80,000? Let's Answer.Hello everyone, I am back! I spent the last couple of months finishing the trading course, which is now live. With that project complete, I am back to the analysis! My Bitcoin Weekly analysis has not dramatically changed since March 25th. Bitcoin is now staring at the $65,000 to $74,000 resistance zone. A double top has formed after three pushes up, and we have closed below the Weekly 30EMA. How do we trade this? 🤔 We ought to be looking for a long entry since Bitcoin is bullish on this timeframe. We now have three completed pushes toward the upside ending with a double-top in the resistance zone, we need to at least wait for a two-legged pullback toward the Support Zone between $40,000 and $45,000. Once successful signal and confirmation candles close above the Weekly 200EMA, it's reasonable to enter a long position at a 1:2 Risk/Reward ratio. Stop loss should be set below the Weekly 200EMA at $32,350, the first take profit at 1:1 Risk/Reward at $51,600 where the stop loss is moved to your entry price, then the final take profit at $61,300 before the Resistance Zone at $65,000. 💡 Trade Idea 💡 Long Entry: $42,000 🟥 Stop Loss: $32,350 ✅ Take Profit #1: $51,600 ✅ Take Profit #2: $61,300 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three pushes up into the Resistance Zone at $65,000 - $74,000 2. Double-top reversal pattern completed inside Resistance Zone 3. Weekly close below the 30EMA, more confirmation of a pullback 4. Wait for a two-legged pullback toward the 200EMA in the Support Zone between $40,000 and $45,000 5. RSI is near 49.00 and below the Moving Average. Wait for contact and a final drop toward 40.00 in concurrence with the price action to enter. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
INDEX:BTCUSDLong
by TraderEngineering
1
Bitcoin → Broke Weekly Resistance! On to $46,000!? Let's Answer.Bitcoin has broken Weekly Resistance at $38,000 and raced to the top of the bull channel around $42,500. Now that the move seems to have played out, what is the next trade? How do we trade this? 🤔 If you're not already in a long, Do Not Enter the market. We're too close to the bull channel resistance, we haven't tested the previous Weekly Resistance as Support, RSI is over 76.00 and far above the Moving Average. We should remain bullish given the macro trend and that the top of the 2021 Trading Range at $46,000 is at the proposed Measured Move target. Best to wait for a pullback and find support again, likely around $40,000 at Bull Channel support. A bull signal bar and confirmation candle will give us the necessary probability to enter a 1:2 Risk/Reward Ratio Long. 💡 Trade Idea 💡 Long Entry: $40,700 🟥 Stop Loss: $38,500 ✅ Take Profit: $45,100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout from Previous High Support! 2. Bull Channel, Bias to Long. 3. Weekly Resistance Broken! Possible Measured Move Up. 4. $46,000 Measured Move Lines Up With Lifetime Resistance. 5. RSI over 76.00, Bias to Short for the short-term. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:BTCUSDLong
by TraderEngineering
2
$BTCUSD Approaching Monthly Liquidity level - LONGMonthly Liquidity Level (MLL) : BTCUSD is currently approaching a critical Monthly Liquidity level at 39965, historically significant for its role as support or resistance. Anticipated Increase : An expected 5.6% surge within one candle is predicted. This surge is considered a precursor to the initiation of a long-awaited Bull Cycle. Long-Term Target: The analysis sets a bullish target at 131k, suggesting a sustained upward trend beyond the immediate surge. Probability Indicator : Recent market activity indicates a substantial inflow of capital over the past few days. This positive money flow is a bullish signal. Volatility Assessment : Volatility has remained stable leading up to the critical level. However, anticipation is for a spike in volatility, especially with the liquidation of short positions at 39965. Risk Factor : Traders should exercise caution as predicting price movements, especially in cryptocurrency markets, involves inherent risks. It's crucial to monitor the situation closely and be prepared for unexpected market reactions. This analysis combines key technical elements, emphasizing the significance of the Monthly Liquidity level, anticipated price movements, and the interplay of volatility and market sentiment. Always consider risk management strategies when acting on technical analyses.
COINBASE:BTCUSDLong
by wikitrades
1
BTC SCENARIO 3 BUY HERE IS WHYDear ZTraders, The price of Bitcoin (BTC) BITSTAMP:BTCUSD often increases as a Bitcoin halving event approaches, and the expectation of a recession can contribute to this price increase, although it's important to note that the cryptocurrency market is influenced by a complex interplay of factors, and these are just some of the dynamics at play. Here's an explanation of these two phenomena: Bitcoin Halving: Bitcoin halving, also known as "halvening," is a pre-programmed event that occurs approximately every four years as part of the Bitcoin protocol. During a halving, the number of new Bitcoins created with each mined block is cut in half. This reduces the rate at which new Bitcoins are introduced into the market. The reduction in the supply of newly created Bitcoins can lead to a decrease in the selling pressure from miners. Miners play a crucial role in securing the network by validating and adding transactions to the blockchain, and they are rewarded with newly created Bitcoins. When their rewards are halved, they may be inclined to hold onto their Bitcoins rather than selling them immediately. This reduction in the supply of newly mined Bitcoins, combined with ongoing demand, can create a supply-demand imbalance that can potentially drive up the price of Bitcoin. Expectation of a Recession: Bitcoin is often seen as a "store of value" or a "digital gold" by some investors. During times of economic uncertainty or the expectation of a recession, traditional assets like stocks and bonds can become less attractive due to their vulnerability to economic downturns. In such situations, investors may look for alternative assets that are less correlated with traditional financial markets and may act as a hedge against economic instability. Bitcoin is one such asset that is seen as a potential hedge against inflation and economic instability. The expectation of a recession can drive more investors to allocate their funds into Bitcoin as they seek to protect their wealth from the potential devaluation of fiat currencies or the decline of traditional assets. It's important to note that while these factors can contribute to an increase in Bitcoin's price, the cryptocurrency market is highly speculative and subject to significant volatility. Many other factors, such as market sentiment, regulatory changes, and external events, also play a role in determining the price of Bitcoin. Additionally, the relationship between Bitcoin and recessions is not always straightforward, as market dynamics can change over time. Therefore, investors should exercise caution and conduct thorough research before making investment decisions related to Bitcoin or any other asset. Greetings, ZTRADES
INDEX:BTCUSDLong
by ZILATRADES
Bitcoin 28000 in August. And when we find the bottom? BINANCE:BTCUSDT The problem with technical analysis - we have a so much indicators and technics which showed us different numbers. On candles chart youll see another numbers, with lines totally different, and also on different timeframes either will show one more side of chart, so we dont know which one is correct. BUT Daily timeframe chart on BTC in Line chart look like this now. Possible Targets ➡️Downtrend line with 2 perfect touches, waiting third touch, most likely with rejection again around 28000 ➡️Between 28000 - 32000 now very strong sellers zone, which I dont think we break in August. ➡️ After test 28000-30000K we can slowly going down but over downtrend line to buyers zone again 19000 by end of September/October ➡️19100 Previews ATH 2017 and around 13100 in 2018 by line chart so I think we will hold the line and dont break this levels ➡️ The crowd is waiting 10-5K the same like Crowd waited 100K - huge trap! ➡️ My most negative scenario is around 15300 in November - test global yearly support line so everyone open short and waiting 10K sure ➡️ After October Im expecting sideways move and total disbelieve on market, so in November we slowly start new cycle. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Long
by Crypto4light
BTCUSDT - pending Inflation. The expectation of a short- Came to the area I marked in the video here -https://www.tradingview.com/chart/BTCUSDT/g0HMDQc6-bitcoin-nachalo-bychbego-trenda-2023/ here- here- I started longing since January 22 The markets are coming alive because of the injection of money into the economy through military companies that produce weapons and so on. written here money injection Now it's more likely to see a correction than an acceleration. A big sign of this: a friend I wrote to 2 months ago who I told to buy crypto and invest in the market. But he only matured today. He says he wants to buy (haha, bitcoin is up against resistance, I am waiting for a pullback price, but he wants to gain a position). What else to add: Broke through the trending orange. But there was no test. So we wait for the retest a trendline. If it confirms the breakthrough. Then we will see in the near future 30k prices on the Father *BTC* . What are your thoughts?
by Artem_Dishel
2
Bitcoin Bullish Perspective Analysiscurrently, we are seeing the bitcoin price breakout, and respecting the falling wedge pattern, the support trendline held the price nicely with bullish divergence on MACD as additional evidence for a reversal signal. personally, I only conclude that bitcoin in a bullish phase when it's successfully breakout the 22500 resistance level. good luck! **Disclaimer** the content of this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
Weekly MACD BTC flashes Bullish SignalLooking back the the last three cycle bottoms (assuming we had put in our all-time-low recently) it appear the MACD is showing a repeating cycle pattern. Crossing down into the ATH then flashing a false bullish signal only to then cross up over and initiating a bullish period. However the all-time-low seems to get retested so a second possible entry point to buy was given the last two time, while you would have missed out on a 2-3x set. And we have a MACD divergence (MACD showing upward trend while BTC is tracking down) [I did not mark that on the chart explicitly. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
INDEX:BTCUSDLong
by CarpeMomentum
This Is How Professional Traders Figures Out BTCs Next Move!The title is misleading - I am not a professional trader BUT I know how professional traders act. TL;DR - Bitcoin is at a range low with the break of 30k potentially being a fakeout. Probability still favours bullish extraction of the range especially if the weekly candle closes as a hammer candle. The three patterns (marked 1 / 2 / 3) are potentially patterns that may emerge which will give more probability towards certain paths for future price action. Probability is the priority of the professional trader. They will NEVER care about catching the "top" or the "bottom" of a move or getting a x100000 home run if it was not done with an understanding of the probability (and risk) behind your trade. Translating this to laymen terms - if you are buying when bitcoin is in the process of selling off and UST is blowing everything up without more thought than "It can't sell off much more!" you are not trading you are gambling and you WILL lose more money than you earn over the course of your life. That is not an opinion - it is a statistical fact. Professional traders are professional because over the course of their lifetime/thousands of trades, they are able to consistently win. Just like a casino, it doesn't matter how much they win in each trade but if they are consistent in returning profits and can make a regular income from trading. That is it. There is no difference between you and them other than their understanding of when to take a trade because the probability is on their side and when to not get involved. (and ofcourse thier understanding of risk but I will touch on that in a post about risk in the future). But how do they figure out probability? A mix of experience, technical analysis and macro-economic sense all combined under the roof of emotional control. So lets work through these factors in relation to Bitcoin above. 1: We are in a range (when price oscillates between two distinct areas - with the range highs being set in January 2021 & Oct/Nov 2021 (60k), and range lows set in June/July 2021 & now (30k)) that has followed a bullish range (when price oscillates upwards, with pronounced higher lows and higher highs). With experience, you learn that more often than not trends continue - I am sure you have heard the term "the trend is your friend". Because of this statistical fact, if you trade on the side of a trend you have a higher probability of winning than losing. As we trended bullish prior to this range forming, regardless of what shape this range takes we already know that there is a statistical probability in favour of the range being broken to the upside. This flavours our buying within the range, favouring buying opportunities rather than shorting. 2: Looking at the pattern of the range we can see an important element that weights bullish probability - a slight break of the all-time high in Oct/Nov. This adds more weight to the probability of bullish extraction because it simply means there were more buyers than sells EVEN AFTER 6 months of Bitcoin "crashing". Ontop of this, sellers took longer to gain control of price than back in January 2021. As time has passed, bullishness has remained or even grown. This tells us value is increasing over time. 3: While the most probable outcome following the break of the all-time-high was a test of a minor pullback support (47k/41k/37k) followed by a reactivation of bullish price action and a break up of the range, we are now back at the range low. This is where emotion comes in. How scary was that sell off?! The whole crypto space died! Yet we are set to close the weekly candle above 30k and that wick below doesn't actually seem too bad when looking at it from such a large timeframe (weekly - ignore the 15min/1h/4h/1D - those timeframes are much more chaotic/random and are superseded by the superiority of weekly and monthly trends (macro-trends)). Given all of the above the professional trader is able to understand the wider picture and look beyond the emotions and news of the last few days. There is a statistical probability of us breaking the range to the upside AND we are sat in a buy area (as we are at the range low). Despite the massive sell off, we are failing to make significant candle closes below range supports and so now the professional trader (having established the overall theme/context they are trading in (bullish tainTed range with bullish elements and a potential range fakeout / stoploss hunt) will zoom in and look at candlestick patterns to determine probability further: Check out the "Area of Interest". We are about to close the weekly candle in a shape that is referred to as "A Hammer Candle". Understanding what happened during the course of this candle lets us understand how probable future price action is as a point of entry rather than in the wider bullish range context. A Hammer candle is formed when the candle opens high, sellers push price lower, buyers step in and push price back up, and then the candle closes near its opening price. When this candlestick appears around a support area, it means that buyers have bought the support, fending off a bearish attack where sellers were too weak to break down the support. While it does not tell us the future, it does give us an understanding of price action and a favourable probability to buy as it is evidence that buyers are active and the support has a strong chance of not breaking. A hammer candle is nothing without a confirmation candle. This is needed to either undermine the bullish argument or confirm it as we can not trade simply on the hammer candle (it alone is not enough information to accurately gauge probability). I have listed 3 potential candles that might emerge next week and listed them in terms of what probability they will apply to the bullish/neutral/bearish arguments (NOTE there can be an infinite number of candles following this weeks close - while many people think trading strategies are extremely complex, they can be just as simple as identifying a favourable context and waiting for one of these very simple patterns to emerge). 1: Bullish - This artistically drawn picture of a candle following our hammer is called 'A bullish engulfing candle'. Here, price opening low and closing above the head of the hammer candlestick gives more weight to further bullish price action. It shows that sellers were unable to take over price again, and bulls were able to push price higher than that of the "sell-off" candle and retain price up there. Combined with a hammer AND the bullish nature of this range we would be able to understand that there is a pretty significant probability of ATLEAST the middle of the range if not range highs being tested. 2: Neutral - Doji / Spinning Top. This candlestick shows us that at some point during the candlestick, buyers tried to push price higher and sellers beat them back, but also sellers tried to push price lower and buyers bought them out. Buyers and sellers are evenly matched and so price is hesitating. While this is neutral, price should not linger too long at supports (ideally you want to see lots of buyers coming in and pushing price away quickly) and so a neutral candle here would have a slightly bearish taint to it. If this appears, it is likely that price will continue to hesitate around the 30k mark, with a small but favourable probability of further selling. Try and spot the Doji candlesticks in the consolidation back in May/June 2021. NOTE: I have specifically drawn this candle with a wick that goes ABOVE the high of the hammer candlestick. A common trading strategy for a hammer is to wait for the high to be broken by the next candle, then enter long as a breakout trade (in the hopes that a bullish engulfing will emerge). This is correct BUT an emotional mature trader often waits (especially when macro-economic risk is so high as it is right now), for the candle to close as a failed break out above the hammer high can often occur before sellers come down and push price down nearer the close of the candle. When that happenes, we wick above the high and then close in something like this doji, trapping all those breakout traders in their long positions and adding more weight to any selling pressure if the support were to then be broken and they needed to close thier long. 3: Bearish - Reverse hammer. This says it on the tin - it is the opposite of a hammer candlestick. Buyers tried to push price higher but sellers took over, closing the candle at the lows. This would tell us that there is still lots of sellers keep to get out and undermine the bullishness that the hammer candlestick presents. Notice how one appeared back in May/June 2021 (the week of the 24th of May)? This shows us that after the big drop, buyers tried to catch the bounce but sellers were still present. This indicates sustained selling pressure is more likely to continue, and so there is a statistical probability of further attempts at the lows made over the next few weeks. Lastly - let's pull EVERYTHING together. 1: We are in a range with a bullish trend beforehand, tainting the range to the bull side. 2: We have a bullish element within the range of a slightly higher high. This means that any attempt at the range low has a statistical probability of being bought, and the range has a statistical probability of the bullish trend seen prior to the range re-emerging. This then means any time we are at the range low, it should be seen as a buying opportunity. 1: Wait for appropriate support (30k is extremely strong major support and prior range low). 2: Wait for an appropriate candlestick pattern (hammer in this case) 3: Wait for confirmation to favour bullish price action. That's it. It's that simple - This is an opportunity for inventory add or a swing trade with a stop below the wick of the hammer candle, and take profit targets at 37k, 47k & between 51-56k. Trading strategies do not need to be complex (in fact the simpler the better). When I first learnt this I looked down on the lack of complexity - I thought trading was extremely hard and you needed as much information and indicators and colours as possible to eliminate all doubt! But truth is: That market will go where it wants to. You can not know where that is. You are not an all-knowing being and sadly - all your information is information everyone else knows. Your ego and sense of needing to control are exactly the reason why most people can not trade. The market is the collective knowledge of all participants. Understanding it is akin to understanding the complexity of the human condition (as ultimately participants' wants, fears, greed, knowledge is baked into where they think price should be bought or sold.) Letting go allows you to see the simplicity in chaos, objectively plan for the most probable course of action, then sit back and watch the fireworks! P.
Long
by MarcusAurelius161
13
THE Bullish Bitcoin Scenario!Welcome Traders, Investors & Gamblers 😃 The 200 week SMA the most logical target for Bitcoin on a weekly closing basis all along. I've been talking about it here on @TradingView since at least February. Now we have perfect alignement with this falling wedge and the 200 week SMA. Im looking for a wick down to about 20k or even aslow as 17-18k (see 78.6 of Fibonacci Retracement) and then a weekly close above the 200 week SMA and the support of the falling wedge . The technical breakout target of the bullish pattern would be right around 66k ! I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise. As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏 Happy Trading ✌♥📈
BITSTAMP:BTCUSDLong
by DeFeye
4