Bitcoin looks set to rally above 60kWe all know of the strong rally that catapulted to a fresh record high in March. Yet price action since appears to be corrective. Whilst we do not yet know if this is simply the first leg lower of a complex correction, or it is set to break to new highs - only time will tell. However, it appears set for a leg higher over the near term.
Volume retreated with prices since the March high, which is a typical characteristic of a retracement. Yet a final stab lower found support at the 100-day EMA, 38.2% and 50% retracement levels before a mini V-bottom formed. This also coincided with RSI (14) hitting oversold, which I define as below 40 during an uptrend.
The prices have since retreated lower from the rally back above 65k, and showing signs of stability above 60k. The retracement held above the 61.8% Fibonacci level and are now holding above the 50% level.
Bulls could enter live at market with a stop below 60k (or recent swing low) with an initial target at 65.5, a break above which brings 68k into focus - or the highs near the high-volume node.
Bitcoinidea
BITCOIN Comprehensive Technical AnalysisHello everyone.
First of all I should say happy new year (Nowrooz) to all iranian people around
the world specially iranian traders community.
Im going to explain how will BTC behave in coming months according to
Elliot wave principles.
As you know wave analysis act better in higher timeframes like Weekly.
So I want to take a look at BTC price action from Nov 2022 that new Elliot Motive wave starts.
You can see the end of wave 3 of a 5 wave move in picture below:
so we are now in the end of a wave 3 in 161.8% fibonacci projection level from the end of wave 2.
furthermore we will have price correction as wave 4.
this wave 4 can be end in 57000 level that is a strong support level and most Fibo retracement levels compress here.
there are a lot of reasons that we will have a bullrun in coming months :
The most important one is Bitcoin Halving and the second one is inflows from approved ETFs
and last one is expected Federal rate cuts.
In chart below you see the overlay levels of Fibo that price will target soon.
Overall in my opinion after a correction to 57000 level as wave 4 , price will go forward to 3 targets ahead as wave 5 (100% level of wave 1) : 85000 , 100000 and 115000.
the most probable target level is 115000 (100% Fibo projection of wave 1)
after that price will correct till the range of wave 4 means 57000 again.
this level (I mean 57000 to 60000) will convert to a strong support level after the price correction.
Hope you like this opinion.
you should make decision on your own opinion but I will be happy if you share your views in comments with me.
Thank you for reading this analysis.
Have good trades
BTC Bitcoin Technical Analysis and Trade IdeaBTC Bitcoin exhibits a robust bullish trend on the daily timeframe. Our primary objective is to pinpoint a buying opportunity that aligns with this trend. Assuming price action unfolds as outlined in the video analysis, favorable trading conditions are expected. The video delves into essential elements such as trend analysis, price action insights, market structure, and a potential trade setup. Always practice prudent risk management when trading, and remember that this information serves purely educational purposes and is not financial advice. 🚀📊
BITCOIN Looking Bullish But Could it Fake Out?BYBIT:BTCUSDT.P
Interesting Bull Flag on $BTC. A Build Up at Rectangle would be an interesting play to Capture Target to ATH and Possible 96K CRYPTOCAP:BTC as a measured move. Looking for Candlestick Formation to decode price. Price takes time but it's such a great signal. Patience is such a big habit in Trading - let price come to you!
Should CRYPTOCAP:BTC pullback, possible short ideas on Altcoins and then a possibility to get in on them at discounted levels. I watch a few Alts so that I have a clear plan to Execute.
When planning moves we must consider the possibility of failure and you must manage risk and remember that CRYPTOCAP:BTC rules the show. Currently, CRYPTOCAP:BTC is sitting in a Bull Flag but price is in the pattern until it isn't so in the event of a pullback, we would look for a discounted entry on CRYPTOCAP:BTC and/or Alts.
If you liked this idea or if you have your own opinion about it, write in the comments.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
AOV - Area of Value
LTF - Lower Time Frame
Bitcoin rallys , bullish trend about to developBINANCE:BTCUSDM2024
My last post on may 16th where bitcoin pulled out itself from regression trend and hit almost 67000 breaking the market structure , i have noticed several shifts indicating a bullish run as long as btc shows above 63000
So if you want to go long prepare for a good position around 63350-63450 range
Bitcoin Eyes Resistance at $71K or $73K?"www.tradingview.com
Bitcoin has finally exceeded 65,000, giving rise to the resumption of the upward trend in accordance with the pattern formed this year on the daily chart.
we can see bitcoin at the level of 74,000 in the coming weeks.
Bitcoin appears to be exhibiting strong bullish signals. Increased interest and a favorable fundamental backdrop could contribute to price strengthening. It's prudent to monitor specific levels closely, as breaking through them may signal further movement, with corresponding targets outlined on the chart.
Bitcoin Range Theory - BTC thoughtsIf BTC rejects from range high here, it is plausible to look for lower time frame logical structural longs from the daily fvg level indicated. Mondays high could get retested as well so this is confluence to that point of interest.
There is the chance that pull back never occurs. If the supply above range high is flipped then I am looking to get a nice continuation long off range high. Nothing is stopping price from moving up until at least 70.5k (imo)
Bitcoin Channel AnalysisBullish scenario: $64000 is broken and run to $72000. If $72000 is broken, a bull flag formation occurs and 100k is reached.
Bearish scenario: Rejection at $64000 and break of both price action support and moving average level at $60000. It drops up to $52000.
Since it recovered quickly after the decline below 60k at the beginning of May, I think the bear scenario is not possible except in an extraordinary situation. But we should not forget to put our stops just in case. On the contrary, apart from these two scenarios, it is also possible for Bitcoin to fluctuate in the parallel channel between 73k - 60k.
Bitcoin Soars After Testing $60,240! Will it Break $63,250?Following CRYPOTLEAN projections to the point, BTC tested the top of $60,239 zone and we saw a bullish rejection leading the price to $63,245 resistance.
1. A dip to $61,742 followed by a strong bullish rejection can lead to a long scalp opportunity towards $63,245 and higher to $66,786.
2. A bullish break-out of $63,245 will lead to more upside towards $66,786.
3. A sustained price action below $63,245 results in a slow and choopy move towards $60,239.
Bitcoin makes good profit. Now is just the beginning!!! UPDATE I am confident in my analysis because it is a fact. If you think otherwise, you don't know what you're doing or you believe those who don't know what they're doing.
See you at the top, my friends.
PS Don't forget to SUPPORT and FOLLOW the analysis if you like MoralDisciple more.
LAST BUYING OPPORTUNITY IN THIS BULL MARKET !Here i show two years after my last post on Bitcoin where my Minds where spot on - backed up by trades. I'm buying here, def focusing on Alts. Bitcoin will peak at around 130k-165k. 2017'esque BR. This is the last ATH for the next eight years. I stand by my words.
BITCOIN - Bearish bias - Bitcoin is currently trading at $63,600. The trend on the daily chart appears Bearish, indicating a downward movement. Sellers are gaining strength, and the chart is forming higher lows and lower highs, suggesting continued downward pressure. My initial target for selling in this scenario is $59,000.
#BTC/USDT Urgent Update!#BTC closed around $62,800, defying CT's expectations for a drop to $52,000.
Now, we'll see if it can close above the blue moving average and confirm this whole move as a deviation, a pattern Bitcoin often follows.
Otherwise, the doors to GETTEX:52K remain open, with this current move possibly being just a retest.
So we wait, patience is key!
Keep an eye on the weekly close!
Have a wonderful weekend!
#Crypto #Bitcoin
Do share your views in the comments section and hit the like button if you like it.
It keeps us motivated!
Thank you
#PEACE
Bitcoin trend for Cycle-Top prediction.I noticed a trend that kept repeating in every cycle with high accuracy.
There seems to be a support trend-line during bull markets, and if we extend this line to the next cycle, it always predicts where Bitcoin will top (By the end of the cycle).
Assuming this cycle ends in November 2025, Bitcoin peak between $250,000 and $270.000.
I also acknowledge that the Bitcoin ETFs might affect this trend and Bitcoin could top at a much higher price level.
IS IT TIME FOR THE RISE BACK TO $70K?As I said before, I believe we're in an exciting time. We're seeing our first sign of early growth following post halving. BTC has broken the 1HR Trend Resistance and it may soon retest it as support. If it does test and hold we can be poised for a continued run to the upside. It's already broken a Key Weekly Level on Friday and it's possible that it could surpass $65,000 on its march back to $70k. If the 4HR Trend Line fails to hold as support, then I believe we will head back to $60k and test from there. Theirs always two sides of a coin, I create ideas for both. My sentiment is overall bullish, but the bears are just as easy to track & trade.
I am going to continue to chart BTC alongside ApeWifHat Weekly. The Memecoin market is not my favorite, but you can't deny the volume of Money being poured into multiple projects. I believe that #ApeWifHat is the next Meme Coin to1000x. It's very early and I'm super bullish. apewifhat.net
What's your thoughts on Bitcoins Future? Like, Share, & Comment below!
Bitcoin Dump: 54K next support?54K seems to be the most likely support level on the 4-hour chart for Bitcoin/USD.
After that 52K .
A drop to 48K seems unlikely . But possible.
A reminder that this is the 4-Hour Chart. If you zoom out, you will notice that Bitcoin is not yet in a bear market.
Technical Analysis tools used:
Volume, Ichimoku Clouds, Fibonnaci Retracement, Volume Delta, Support Lines.
The Fibonacci Retracement show the next likely support levels which correlates closely with the (orange) support lines.
Price action below the Ichimoku Cloud signals the continuation of a bearish trend.
The new Volume Delta Indicator shows a divergence of sell volume domination over market price, which leads me to believe a trend reversal is coming soon. (around 52-54k)
up-to-date Fundamental Analysis:
Good news to consider:
Possible ETF unbanning and adoption in China (unconfirmed)
World's largest custodian bank, BNY Mellon reports exposure to BTC ETF
Halvening in effect
First Bitcoin ETF's launched in Asia (Hong Kong)
Bad news to consider:
CEO of Binance sentencing (30. April 24)
Prominent Bitcoin Figures arrested
Government crackdowns in US/UK/EU on centralized elements of the cryptocurrency ecosystem (CEX, Custodial Wallets, etc.).
Asian Bitcoin ETF's flopped due to low volumes on opening day.
Psychological Considerations:
must-reach-100k mentality of the Bitcoin community
Community psychological barrier against centralization and regulation
50k support
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
Alt season is about to begin, inflation 2.0 pre 80s stagflationWatchout for inflation 2.0 as the markets remain irrational longer than retail can stay solvent highly addicted on debt and leverage.
If we follow the first wave of inflation around September 2020, Bitcoin is doing a massive cup and handle just like Gold and Silver now.
Alts will follow. While Bitcoin ranges, Alts will explode starting June as QE restarts, may continue in July and August until September end followed by a big bloody correction.
Will the party continue until Bitcoin is 200k mid December?
May have to see US election debates and results.
Will Bitcoin's 4th cycle continue until next year till it hits 240k? Not likely, the party could be interrupted by a sudden rate hike.
Multiple rate hikes you mean? Everyone's expecting a rate cut.
If inflation spirals out of control with a historic come back like a strong 80s style tsunami, you can bet the fed will pump the dollar and interest rates will moon, those include mortage rates of course.
However, see the newspapers back in the 80s, If I were I wouldn't expect property prices to go down at all. Biden is an 80s guy and this seems to be a climate change agenda to reduce the middle class.
Welcome to 2030, I own nothing have no privacy and we will all eat ze bugs farmed by Bayer/Monsanto.
Humans don't apply anymore if AI continues moving as fast as it is. Say hello to UBI available for the chipped that decide to live inside the smart and connected cities.
NzdUsd continue down on retracement!Looking for Impulse Down.
Nzdusd will start to move down soon on retracement. Make sure you have your own rules on RR and follow them. This is just a trading idea to help you gain better knowledge. If you have any question ask me in comments.
Learn & Earn!
Wave Trader Pro
DXY bearish or bullish ? lets see (#BTC , #Stock)The Dollar Index (DXY) is once again moving towards the critical level of 105. If it does not find support at this level, it could lead to a bearish trend on the daily timeframe. In this case, the stock market and Bitcoin would return to a bullish trend after a slight delay.