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Bitcoinidea

Bitcoin: One Person's Fear is Another Person's GreedFirst off, what the f*ck? I believe Bitcoin should correct back to at least the 50% Fib Level -- if not the 38.2% -- so that we can see a healthy rally upwards. Years of trading crypto has taught me that every rally has a near equal correction. But emotions and bias will be the death of your portfolio so here's my unbiased analysis of the world's greatest cryptocurrency: - Bitcoin is forming an ascending triangle on multiple charts which is a bullish sentiment on its own. - On-Balance Volume (OBV) shows a steady increase in buying pressure since the start of the recent rally. Layman's terms: buying pressure is outcompeting selling pressure. - Money Flow Index (MFI) has an inverse slope that favors oversold and is currently relaxing in neutral territory safely away from overbought. These three indicators lead me to believe that Bitcoin may experience another breakout in the coming weeks and, potentially, without a dip back to $30.5K as I previously forecasted. At risk of stating the obvious, news can shake the markets enough to reverse any trajectory but yesterday's Binance update hardly rattled Bitcoin like it did for altcoins. It's my personal opinion that the Bitcoin ETF decision is the closest catalyst in determining the next major rally or drop. However, we can't forget about the highly anticipated Bitcoin halving which is expected around April 2024. If the ETF does get rejected, this may provide a very lucrative buying opportunity. COINBASE:BTCUSD
COINBASE:BTCUSDLong
by Shepherd_Investor
BTC BITCOIN Technical Analysis and Trade IdeaBTC BITCOIN has been exhibiting a robust bullish trend, prominently visible on a 1W weekly chart. Our focus zeroes in on the 1W and 1D time frames, strategically seeking the best entry points amidst a significant price swing with an anticipated retracement phase. Our focus lies in identifying retracement levels between 50% to 61.8% fibo zone, an area we favor for optimal entry. This video explores price action, market structure, and overarching trends, revealing crucial insights into technical analysis. Throughout this breakdown, we delve into pivotal aspects: market structure dynamics, price action nuances, trend patterns, and essential technical analysis components. It's pivotal to note that this content is intended for educational purposes only. As such it's essential to avoid interpreting it as financial advice. Keywords: BTC, Bitcoin, cryptocurrency, trading, technical analysis, market trends, price action, Fibonacci retracement, entry points, bullish trends
OANDA:BTCUSD
by fxtraderanthony
Will Bitcoin Price Drop to $34,000?BTC needs to close above the $36,800 level for a 4-hour candle to signal a potential move. If it manages to close above $36,800, the target will be $38,500. However, if it fails to reclaim $36,800, the movement will likely start from the current level ($36,400), initially targeting the $34,200 zone and then potentially dropping to $33,400. In the previous analysis, we achieved an 8% gain. You can view the analysis in our profile. NFA.
Short
by wagmitraders
#BTCUSDT Bitcoin chart with a triple bearish divergence patternBitcoin bulls beware, we are seeing a triple bearish divergence pattern on bitcoin where price has made 3 consecutive new highs, not confirmed by the RSI indicator which has made 3 lower highs. These sort of patterns usually result in a correction from over-extended price action. My larger target from this would be the 0.236% fib retracement level at approximately $32691 should this play out. If playing for this larger move you'd likely need a bigger stop at around $38100. For the shorter more aggressive time frame traders, we are seeing a Head & Shoulders formation developing on the 30 min so if you get in around current levels, stop loss is a close above $37200. We need a convincing close below the neckline at $36960 in order for this head and shoulders to confirm which should take this to approximately $36500. Larger term though a healthy correction for the price of crypto would be back to its 0.236% fib as mentioned, although the breakout area for bitcoin occurred recently around 30500-31500 and a retest of this zone and a reversal from there, might give an opportunity to catch the cryptocurrency for a much larger move. Bullish on medium and long term time frames but short term I think a correction would be healthy for the sector. Good luck!
INDEX:BTCUSDShort
by MarcoOlevano
The Bitcoin Bull MarketThe probability of the bull market continuation is evident in the chart with higher highs and higher lows. The path to all time highs isn’t always clear and the demand for a COVID esque capitulation grows but I believe it is possible that we may go higher before we go lower. Upside target resistance around 50-52.1k with a 2024 low boundary around 28.6k range. We may be forming a very large inverse head and shoulders structure that targets 170k, should it play out. A bullish perspective for some to consider. No guarantees.
Long
by TheCheartBreaker
Quick BTC update. It's Important.Hello traders, I hope you guys are doing well with your trades. BTC has made a sudden change in the recent price action but this was something that I already talked about in my previous analysis. After a good 7.5% gain from the lower support, BTC failed to break above the $37.9k resistance. It got rejected all the way to $36.4k where we have the 21 MA ($36.5k) support. We can expect a bounce back from this level where BTC will possibly try to break the $37.9k resistance once again but if the 21 MA support fails then $35.7k is the next expected support. That's it for now. I hope you find this update informative. Regards, Team Dexter.
KRAKEN:BTCUSD
by Dexter_The_Trader
BTCUSDT.1DBased on the provided market data, the current price of Bitcoin (BTC) is $36,095. The Relative Strength Index (RSI) for 4 hours, 1 day and 7 days are 50.06, 68.12 and 74.52 respectively. RSI value above 70 usually indicates that the market is overbought and may be primed for a trend reversal or experience correction, so BTC is nearing that condition on the 1 day and 7 days charts. The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day and 7 days are -221.37, 1475.98 and 2014.21 respectively. The negative MACD on the 4-hour chart suggests the market is bearish in the short term, while positive MACD on the 1 day and 7 days charts indicates bullish in the longer term. The Bollinger Bands (Bb) for 4 hours, 1 day and 7 days are 37836.0, 37582.0 and 36840.0 respectively. The price is currently below the upper band in all three periods, indicating it's not overbought. The supports for 4 hours are $35,380, $34,128, and $33,355, while the resistances are at $37,960, $38,936 and $40,000. For the 1 day period, the supports are at $33,400, $32,158 and $30,000, with resistances at $38,000, $42,880 and $40,500. For the 7 days period, the supports are at $29,630, $25,177 and $22,860, with resistances at $40,500, $44,800 and $48,000. In conclusion, the market data suggests a mixed signal with short term bearish and long term bullish trends. The market is nearing overbought conditions which could lead to a price correction. Traders should exercise caution and consider their risk tolerance and investment objectives before making a decision.
by MarsSignals
Bitcoin Idea - BTCUSDT and BTCUSDHey, fellow traders, Let's delve into the intricacies of the Bitcoin price chart, dissecting the recent market movements with a keen eye on technical analysis. Here's a comprehensive overview: 1. Preceding the ascent to the $40,000 threshold, the market witnessed a corrective phase, experiencing a pull-back to the $34,000 level. 2. Post the retreat to $34,000, there exists a conceivable scenario where the price undergoes a neutral fluctuation within the $33,500 to $34,500 area, persisting for a duration of either 24 or 48 hours. This is attributed to two key factors: A. Fundamentally, the market's trajectory is influenced by multiple factors, from US news and developments these days to Black Friday 2023. B. In a speculative sense, this could serve as a respite for bullish traders, paving the way for a robust upward movement, aiming to breach the resistance at $38,000 and achieve a historic milestone at the psychologically significant round number of $40,000. In the realm of technical analysis, terms such as " pull-back" and " neutral fluctuation " are indicative of corrective phases and consolidation, respectively. Traders should remain attuned to these dynamics, incorporating them into their strategy to navigate the evolving market conditions. Stay vigilant and trade wisely . Arash COINBASE:BTCUSD BINANCE:BTCUSD BINANCE:BTCUSDT COINBASE:BTCUSDT 🚨 Heads up! what you're about to read is my take on the market. It's a mix of my own experiences, some real trades, and general observations based on what's out there in the public domain and historical data. The disclaimer: I'm no financial guru, so whatever moves you make in the trading world are totally on you, my friends. ✅ Got queries or suggestions? I'm more than happy to chat about any currency pair or index in Crypto Market or Forex that's tickling your fancy. Let's decode these markets together! 📈✨
by Arash-RK
Bitcoin - A Small Or Big Pullback?Bitcoin has had an explosive month of price discovery, as over the course of the last four weeks we've climbed above our previous consolidation range and reached new yearly highs. Data from Glassnode indicates that we are still in the third wave of investor accumulation. Research has shown that in all previous market cycles, there was a pattern of Bitcoin accumulation. 1. The first wave occurs shortly after the All-Time High of Bitcoin in a Market Cycle, when price rapidly moves away (down) from that high level. 2. The second wave occurs during the depths of the Bear Market, when the price floor for that cycle is being discovered and tested. 3. Third third wave occurs after the cycle bottom, when prices begin ticking up in anticipation of the Bitcoin halving. It's important to note that in the last market cycle, there was a significant correction following the third wave of accumulation, which ultimately led to prices trending down until March of that year of the halving. Bitcoin has currently reached a High-Volume Node on our Volume Profile, indicating that this is an area of heavy potential supply or selling pressure. Our Senior Analyst Alexander had originally called for a $35,000 top for Bitcoin prices in 2023. Putting this together, we notice that a large gap was created in Bitcoin's price movement over the last four weeks. We anticipate a good chance for a short-term reversal to re-visit those price levels. This will give us an opportunity to gauge whether: 1. Bitcoin establishes previous resistance as support, and ranges in anticipation of a further breakout. 2. Bitcoin fails to establish previous resistance as support, and decisively breaks back down into a previous trading range. Conservative traders can consider taking profits on BTC long positions, and waiting for confirmation of flipped resistance before establishing a new tranche of long interest. Should Bitocin break previous resistance, we reccomend short-selling positions into the end of the year and potentially much of Q1 '24. Aggressive traders can also consider taking profits on BTC long positions, and establishing short-positions early, whether just for the re-test of the Fair-Value Gap, or to attempt to time the big swing of Bitcoin's correction.
BITSTAMP:BTCUSD
by CrackingCryptocurrency
27
3 Scenario Outcome for BitcoinSpeculation is just that, only speculation. Ideas to guide your trading and/or investing journey. I put a good amount of time in researching and charting over the last year to specifically develop this thesis. I hope you enjoy and please like and share, even if it's to ridicule my analysis! With that said, it looks like there are three scenarios that are 'most' likely to play out over the next 2 years: Scenario 1: Worst case (Red Path). Bitcoin ETF's are denied and/or a major market crash happens beginning Dec '23 or Q1/Q2 '24. Targets are the lower channel back at bear market bottom, the Value area low (Blue) & nPOC (naked point of control sitting above VAL) or below, to include CME gaps of a. 20.3k b. 9.7k & c. 3k at the very worst. 12k bears will rejoice. I for one will be selling the farm and my first born at 9k or below. Scenario 2. Bitcoin ETF delays (Orange Path). The range continues with a top off near the Macro VAH at about where price stands as of today, 11/11/23 @ 37k-39k. Price would most likely seek to validate back to fair value at 32k, and then retest down to 20.3k for the CME gap fill creating one of the most powerful patterns as an inverse head and shoulders. Given the channels, this seems the most likely with an upside target to the VAH again near dump of April/May '22 and now resistance at 48k. Target is summer of '24. Scenario 3. Moon boy status (Green Path). This means the Bitcoin ETF was approved prior to any fundamental problems (ie FTX 2.0, WW3, declared depression, etc) and no need to wait for price to come down past 32k, possibly ever. B. There is the possibility of a priced in ETF scenario that allows for the channel to stay valid. In this case, if price action does not moon over 48k up to ATH's, it likely sets a re-accumulation zone above 48k, playing within the upper channel, with a last dip into the 30k's before we see ATH's. Either way, Bitcoin is ready to rock and roll. Now to the less juicy part of this bull run. Give the diminishing returns as most assets have as they age, it looks like 100k is going to be the biggest and baddest of all resistance from a percentage standpoint. Gone are the days of 33k% gains. From the top of each market cycle to the next top we go from over 1k% to now 250-ish% last cycle. Here's where I 'm at from a charting and fundamental stance: Bitcoin gets a 44-54% blow off top (Shown in price range) from previous ATH's up to 100k-ish. If it's more, great, sell because you've been stacking or you're long. Buy your lambo, more power to you. However, given the current M2 issue, loan maturations (refinancing in '25 from 2.9% to almost 5%) as well as the overall credit and savings crisis, Bitcoin's blow off top could be in the 80-88k range. That would put the total market crypto cap at ATH's of 3.5-4 Trillion range. If Chairman Powell decides to turn the printers on for 2025, then some of the moon boi's out there may see 150k, so we all win anyway from a plebs perspective. #Stackon
INDEX:BTCUSDLong
by Zseries33
2
Important Bitcoin Update: Must read.Hello Traders, BTC has experienced some recent volatile movements, causing concern among many in the trading community. In this update, I'll provide an analysis of the possible BTC scenarios. 1. The breakout above the resistance trendline, marked by a substantial green candle, appeared unsettling. This was followed by a significant red candle, as illustrated in the chart. 2. A correction seems imminent, not just for Bitcoin, but for the entire market. I continue to anticipate this correction. 3. Currently, BTC finds support at $35k and $36k. If it drops below the $35k support level, it may necessitate a reevaluation of the chart using a different timeframe. 4. If BTC exhibits a positive movement from these support levels (a bounce), it could present an attractive opportunity for buybacks or re-entry. Note: It's essential not to succumb to FOMO (Fear of Missing Out) while trading. Prior to investing, comprehensive research is crucial. Please refrain from regarding this as financial advice, and don't rely solely on this update. Equip yourself with a solid understanding of trading to ensure a safer journey. We appreciate your valuable time. Warm regards, Team Dexter.
KRAKEN:BTCUSD
by Dexter_The_Trader
Important analysis of Bitcoin price in daily timeBitcoin is gathering liquidity to capture the momentum of the big drop. Price is completing its reversal pattern and pulling back to its broken $40,000 support. Bitcoin gives its support at $15,000 and the eng DP on the left side of the price confirms this. But at the moment, no turning signal has been issued to me and I am waiting for confirmations for the price to return from the dangerous red range. Whales are on sale. Not financial advice
BINANCE:BTCUSDShort
by fiftytwohertzwhale
2