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Bitcoinforecast

2 TradingView indicators for trading BitcoinThe indicators offered by TradingView extend beyond their usefulness for forex, commodities, and stock trading and into the world of cryptocurreny. In this article, I want to explore two TradingView indicators that Bitcoin traders may like to take a closer look at. Sentiment Indicators Cryptocurrency is an asset that can rely heavily on the sentiment of the market, perhaps more so than any other asset as its value is not so obviously tied to fundamental data like stocks and currencies. As such, paying attention to Bitcoin’s public and market sentiment can be vital in helping traders decipher the price action of this particular asset. A few Bitcoin sentiment indicators exist on TradingView, with two freely available versions being the Bitcoin Futures Market Sentiment and the Bitcoin Binance Sentiment Index. Bitcoin Futures Market Sentiment You can use this indicator to simply illustrate optimistic and pessimistic market sentiment in the Bitcoin futures market. The red bars are indicative of pessimistic sentiment and green bars indicative of positive sentiment. The size of the bars also implies the degree to which the market is in either of these conditions. Bitcoin Binance Sentiment Index. The Bitcoin Binance Sentiment Index suggests market sentiment by measuring the divergence between futures and spot Bitcoin prices (as pulled from Binance). The sentiment must be decoded a little more than the Bitcoin Futures Market Sentiment Indicator but can still be done quickly and easily. When the value of the indicator is above 100, the average price of futures is above the spot price for a designated period suggesting a bullish outlook. Conversely, when the indicator’s value is below 100, the opposite is true. Bitcoin Bullish Percent Index The Bitcoin Bullish Percent Index analyses a wider segment of the cryptocurrency market in an attempt to understand Bitcoin. This indicator is designed off the assumption that a strong relationship can exist between some cryptocurrencies, and that individual cryptocurrencies typically like to move in unison You can think of The Bitcoin Bullish Percent Index like a general RSI (Relative Strength Indicator). When the indicator is valued between 50.00 and 70.00, you might like to consider the cryptocurrency market as a whole (as well as Bitcoin) as overbought. When the Indicator is above the 70.00 level, you might like to consider it as extremely overbought. Conversely, when the indicator is valued between 50.00 and 30.00, you might like to consider Bitcoin as oversold. When the Indicator is below the 30.00 level, you might like to consider it as extremely oversold.
BLACKBULL:BTCUSD
by BlackBull_Markets
1
Bitcoin – HUGE CRASH is not over!Hello, everyone! Exactly! Exactly as was predicted. Bitcoin reached $21500 and crashed. I am proud that I finally learned a little bit about trading chaos approach and correctly anticipated the Elliott waves. In my last analysis I told you that that wave 5 of previous wave higher order will be finished at $21500. Today we saw the start of the wave 3 – the most impulsive wave. Let’s go! Let’s take a look at the BTCUSDT chart 1h timeframe of the WhiteBit exchange. Here we can see that after the wave 1 have been finished wave 2 reached exactly 0.61 Fibonacci retracement before showing us the crash in the wave 3. Let’s notice that wave 3 reached exactly the 1.61 Fibonacci level and now I am waiting for the local correction to 0.61 Fibonacci level, approximately to $19k. Here will be the nice short opprtunity. The dump have not finished, the bear market will continue to $12k. Of course I observe the market and can change my targets, but now I consider 1-2 months of dumping before the bear market end. I have been waiting for this dump 2 months earlier, but market decided to annoy me with the flat. Best regards, Ivan
by Skyrexio
9
BTCUSD WORST OF THE WORST CASE2-3 Months from now 1.) If BTCUSD doing Irregular flat, the last price target is around 9,080$ 2.) If BTCUSD doing C of Truncated Zigzag, Price should go at least 5,321$ or lower (From the theory, The price must not be lower than the lowest price which is 2.22$) 3.) If BTCUSD doesn't make a new low and the price goes sideways, It may make last wave C and then go down 4.) If BTCUSD doesn't make a new low and the price was reversed or changed trend, It may be making wave B or New Bull Run. These 4 things can happen or never happen, My wave analysis still needs practice, and I'm Never afraid of the mistake. BITSTAMP:BTCUSD
BITSTAMP:BTCUSD
by MANGDANA
2
Bitcoins Peculiar Elliot Waves! #2This chart is a second look at " Bitcoins Peculiar Elliot waves" In this analysis we are assuming that wave 3 has not finished yet, but should do so by summer next year. June @ 95 bars would mark a 2.5 lengthened cycle from the first first wave. The next look is into an a possible extended bear market with the bar length all clearly marked, at this point for me it's just an educated guess. I want to note that price is not the emphasis of this outlook, it is cycle and time line based...So please don't get caught up on price points. I have listed the original "bitcoins Peculiar Elliot Waves" in this chart as well. take a look and let me know what you think down below. The answer to this one is sooner than later so we'll know how valid this cycle analysis is by midpoint next year. Also please do not take any of this as investment advice, it's just an observation and should be taken as educational. Thank you for looking and stay blessed! WeAreSat0shi
BNC:BLX
by WeAreSat0shi
2
Bitcoin Today Next Target 30k ? Bitcoin MARKET UPDATE Bitcoin support levels - 19500$ and 19000$ strong Support (Buyers available at this position ) Bitcoin resistance - 20000$ and 20500$ strong resistance (Sellers available at this position ) Market depends upon Bitcoin movement so trade with risk management. We updated you about Bitcoin movement. ——————————————————————— Analysis - BTC Support is at 19500$ and 19000$ Resistance is at 20000$ and 20500$ Trade carefully and manage your risk according to mentioned support and resistance levels. Looking at 1 hour timeframe, currently Volume is low and BTC Price below EMA 10 20 50 100 200 Currently RSI is at 27.8 BTC dominance is at 40.57 and Total Crypto Marketcap is at 978Billion
Long
by Waqar212
Bitcoin Dump Big Move Why ? Bitcoin MARKET UPDATE BY Bitcoin support levels - 19,300 and $18,700 strong Support Bitcoin resistance - $20,000 and $20,800 strong resistance ——————————————————————— Analysis - Bitcoin price formed a swing high near the $21,469 level and recently started a downside correction. Fundemental Analysis ______________________________ As Sam Bankman-Fried's FTX witnesses an intensive selloff in its native token, FTT , Bitcoin , Ethereum , and Dogecoin saw $17.37 million in liquidations, or 45% of the total market liquidation, in the past hour. Binance topped the table for market liquidation accounting for $24.30 million in liquidations. Market is very volatile so be careful and trade Safe. Manage your trades according to Market update.
Short
by Waqar212
2
Bitcoin- Will it break down this time?Since June, Bitcoin is trading in a range and for 6 weeks now, the price evolution is annoying, to say the least. After a new dive under 20k in October, the price recovered but, looking at the posted chart we can see that bulls are lacking power and this rally is a dead cat rally. As I was writing this post, Bitcoin lost 500usd and is trading now under 20k. I expect more downside and this time we can have the break under the recent low. Rallies above 20k are to be sold and only a daily close above 22k would change this perspective.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
47
BTC Ascending Wedge BTC & ETH are both in rising wedge patterns, which coincides nicely with the VSA (volume spread) reads I've been getting for the last two weeks when analyzing them. As usual, rarely do we see a direct pullback or rally when these biases have been identified; that would be too easy. Instead count on BTC continuing to draw bull investors and pump riders into the game via micro-rallies, with the intention of trapping them within this geometric pattern when the supply floor suddenly gives way on the cusp of another so-called markup. Beware: the crypto ocean is teeming with sharks. *Be sure to subscribe for more easy-to-follow charts with high win ratios (80-85% average) in hitting the Fibonacci profit zones. I've been trading crypto fulltime since 2017 and handpick all the runners myself after conducting a series of volume-to-spread reads and Wyckoff schematic comparisons. Check out my past charts & see the wins for yourself. **Not financial advice. Always DYOR and trade at your own risk.
COINBASE:BTCUSDShort
by jalapablo
2
Can Bitcoin Hit 30,000$ in This Week ?Bitcoin MARKET UPDATE 1: Bitcoin support levels - $20500 and $20,000 strong Support (buyers available at this position). 2: Bitcoin resistance - $20,800 and $21050 strong resistance (sellers available at this point) Trade with risk management according to the market updates because market depends upon Bitcoin movement. ——————————————————————— Analysis - As we can see on chart BTC touched 20582 and now trades at 20680. Currently BTC dominance is 38.6 and RSI at 43 and the total market cap is 1.03T. And 1.92% decrease over the last day. So manage your trades according to Market update.
Long
by Waqar212
BTCUSD bottom may be in! Pi Cycle bottom !Every week chart presents a new data and there are more reasons to believe that we already saw a final capitulation. 1. By now, the support´s held and the double bottom is still valid (until it breaks). 2. As we can see in the chart, Pi Cycle bottom indicator suggests that the bottom is in. 3. Moreover, RSI hit its lows in June just before Pi Cycle bottom indicator signaled that the bottom is in and it was also the case in the 2018 when the price found its absolute bottom. 4. Bitcoin Rainbow Price Chart Indicator also shows that it´s a right time to buy now. www.lookintobitcoin.com We expect the price to consolidate for a few more weeks. If double bottom holds, we may not see lower prices and the Parabola will start. Sentiment on social media is still very bearish. Everyone expects lower prices. It would not be surprising if market does not give us a chance to buy cheaper and many people will be left behind waiting for lower prices. Below 20k may be a good price for a long term investment. DCA below 20k !
BITSTAMP:BTCUSDLong
by vf_investment
5
Bitcoin: Down the Rabbit HoleThe future of Bitcoin seems just as unknown as the adventure ahead of Alice in wonderland. It feels like we're currently falling down the rabbit hole and don't know for sure where it's stopping. Primarily, we expect the course to drop further below the support at $17 689. If it continues to drop into the blue target zone between $17 572 - $10 919, the yellow wave (2) should ideally be completed around $16 148 to move out of the blue zone. If Bitcoin finds its way out of the blue zone and heads above the support at $17 689, it should head towards the $22 802 resistance. Furthermore, after touching the $22 802 resistance, Bitcoin will continue to move above $25 200. In the secondary scenario with a chance of 40%, Bitcoin should continue to move upwards if it touches the $22 802 resistance and could climb its way back to the top if it reaches the $25 200 resistance. We'll specify the future of Bitcoin in our upcoming posts.
BINANCE:BTCUSDShort
by MarketIntel
3