BITCOIN $BTCUSD - Feb. 13th, 2024BUY/LONG ZONE (GREEN): $46860 - $56275
DO NOT TRADE/DNT ZONE (WHITE): $42580 - $46860
SELL/SHORT ZONE (RED): $35550 - $42580
Overall the market has a bullish sentiment, price has recently broken above my previous buy zone so I decided to rechart new areas that I would look to enter at. Levels and zones are drawn from the daily and weekly timeframes. I threw a few of the recent events around structure that I would look directly towards for new information on where price is headed and around where to enter. There is a lot more ideas on a lot more timeframes, but this is what I immediately look towards.
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
Bitcoinlong
BTC → Bitcoin Near Resistance! Should We Short? Let's Answer.Bitcoin is in a critical price zone as this bull run has taken us from $15,500 to $52,800. Is this a situation where we short? Or do we prepare for a long?
How do we trade this? 🤔
Shorting may be an option for a lower timeframe such as the 15m or 1HR. I would not be shorting on the Daily or Weekly candles, but waiting for the price to pull back to enter a long.
As outlined in my Bitcoin Lifetime Analysis, I believe Bitcoin is due for a major pullback ranging from 30-50% toward the $25,000-$30,000 price area:
I would target a long entry in the $35,000 price area, set a stop loss either below the $15,500 low and target a 1:3 Risk/Reward, or a stop loss below the previous trading range at $25,000. Look for a double bottom around the Breakout Support area at $31,800 with a strong bull signal and confirmation bars. From there, reasonable take profit targets include 1:1 Risk/Reward at $42,300, just below the current price at $51,000, just below the previous all-time high at $65,000, and just below $100,000 which is a psychologically even number target.
💡 Trade Idea 💡
Long Entry: $35,575.00
🟥 Stop Loss: $22,900.00
✅ Take Profit #1: $42,300
✅ Take Profit #2: $65,000
✅ Take Profit #3: $98,000
⚖️ Risk/Reward Ratio: 1:5
🔑 Key Takeaways 🔑
1. Three pushes up toward a Resistance Area of $52,800
2. Resistance area is derived from the 2021 Head and Shoulders pattern
3. Wait for the price to pullback between 30-50%, and look for a double-bottom reversal pattern near $35,000
4. Long at 1:5 risk reward and take profit at three key levels
5. RSI is overbought at 78.00 which supports the pullback.
💰 Trading Tip 💰
Trends typically have 3 pushes in either direction before a trend change begins. Along with other market indicators, creates a situation to look for counter-trend trades because the probability of profit is high enough.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
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Well, as you can see in the new analysis, we are now at a major resistance, so we can consider that Bitcoin can move a little lower to the sema, but this should not cause you fear, because it is still at my target, which is $92. It will move (sooner or later) hopefully don't miss this great profit.
BTC Goes Higher - ☀️ & Bullish Potential for the next 7 days? A bullish sun will shine over Bitcoin in the next 24 hours and week, indicating additional upside potential.
The cryptocurrency trend was positive over the past 24 hours, driven by the strong quarterly results released by the American chipmaker Nvidia yesterday evening.
The institutional digital asset summit held by BlackRock later today may push the price of Bitcoin further up. The world’s largest asset manager is expected to promote its spot Bitcoin exchange traded fund (ETF), NASDAQ:IBIT , to institutional investors during this event. Assets under management in this ETF reached $6.3 billion five weeks after its launch in mid-January.
The market capitalization of cryptocurrencies is now oscillating around $2 trillion, with that of Bitcoin representing half of it. The price of Bitcoin rose 0.1 percent to $51,839 over the past 24 hours.
The Head of Research at Fundstrat, Tom Lee, expects this price to reach $150,000 during 2024, he said when interviewed by CNBC. Its price will be buoyed by the launched spot Bitcoin ETFs in the US, Bitcoin’s upcoming halving in April as well as upcoming rate cuts, Lee said.
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Bitcoin Prehalving TOPHello folks , hope you having exciting days .
Last TA worked properly but i was expecting more than 20% dump , although i told you we are in a unpredictable situation and we wont sell we just wait for a buy situation , nothing can force me to fall for any traps tho .
Red area is the prehalving top in my idea , usdt.D can goes down a bit but its on a strong support which will hold and its RSI is ridiculous.
For some other reasons i think that BTC is on its top and will fall to approximately 0.5 to 0.61 fib levels wich are my previous targets , it will be sharp and it’ll cut so be careful, as i say its not a smart time to sell so I would be prepared to buy only , be careful about altcoins as btc.d is on strong support and any dump will smash alts .
Stay safe fam .
Bitcoin Bullish Continuation. to ATHsSup guys this is an update for the previous bitcoin chart analysis.
following was on the previous analysis:
Based on the chart, Bitcoin after sometime mooning, we needed a place to detour, correct and then continue mooning, so we can get to mars.
So, we have been in a correction cycle where an WXY correction structure is seen, and once correction is complete, then a continuation bullish move is expected until 55k in Bitcoin.
All important areas have been marked accordingly on the chart.
Orders from the current price with a sl: @50K can be executed depending on how your portfolio or account is.
CURRENTLY bitcoin is completing the correction, and from current price, Im expecting a bullish move.
REMEMBER THIS IS NOT FINANCIAL ADVICE BUT A GAME I JUST LIKE TO PLAY WITH SOME OF MY FRIENDS. so if you blow your account or something then Im not gonna be liable.
BITCOIN is creating a potential Cup & Handle formation.BTC is currently, potentially creating a smaller Cup & Handle formation. (In white) And, a potentially larger Cup & Handle formation. (In Blue)
Bitcoin has been on an absolute tear the past few days, and these formations could come into play down the road if price action continues to fill them out. Whether it will be the smaller (White) Cup & Handle, the larger (Blue), or a Cup & Handle pattern at all remains to be seen, but will become clearer in the coming weeks/months.
These formations are speculation at this point, but I just wanted to point out the potential for each to occur down the road if the current trend continues.
Good luck, and always use a stop loss.
BTC LONG Speculation, no major corrections until 75k-80k?Since the ETF, it seems to have been a sell the news, followed by buying the dip event at the 100D MA.
Dips since the start of the bull run, even before the launch of the BTC ETF, have averaged ~20% followed by a continued massive bull run. Some, including myself, speculated a break of this trend of 20% dips (breaking 38k) followed by a continued sell-off into 34k or even 30k. The ETF launch was a perfect event to sell along with outflows from the GBTC takeover until recently.
Assuming this pattern of 100% returns after a 20% dip, technically BTC can reach ~80k. Considering the shortened duration to reach such returns, we may reach 80k sooner than expected in this cycle.
Note that we have recently (in the past few weeks) broken a multi-cycle trendline that acted as resistance roughly two months before the FTX collapse. So it could validate prices rising on top of ETF inflows increasing. Note that upon reaching 74k-80k, it is likely a significant pullback within 30k-40k will occur, given the lack of test of structure that BTC normally does pre-halving.
This idea is invalidated with a daily close under 49.5k. Closing over 59k will likely have the rally continue toward 74k, with any price beyond it being risky to hold without selling, likely maxing out at 80k roughly the end of March. Closing under 44k would be bearish enough to consider going to 30k.
Overall, this idea is very speculative and assumes a trend continuation that breaks BTC's normal patterns/expectations of price movement. Upward price movement is 34%-44% toward 74k and 80k, with a downward price movement of 42+% toward 31k, so entering now is dabbling more in the middle, slightly favoring bears in the long run. This is likely all that's left for BTC to continue the rally past ATHs assuming it can hold 50k before a significant correction. You could even argue of strong resistance ~57k-59k, but inflows are too strong, as is the narrative of RWA and the Tokenization of Financial Assets .
Be weary that there are still other risks (cyber pandemic, bank runs, civil unrest, real estate, labor market participation/retraining, shipping routes in the Middle East, control of rare earth minerals/semiconductors) that have been deferred thanks to speculation/attention of tech around AI, and may conveniently come back. I'm not sure when, but I'd speculate starting the second half of 2025 to 2026.
Trades:
Long 55k
SL 49.5k
TP 74k (close or by the end of March)
Short 77k
SL 85k
TP 60k, 45k, 35k (close)
APEUSD | ABC Pattern - Pullback Inv. Head&Shoulders TP +70%An inverted head & shoulders breakout in weekly timeframe, possible ABC wave pattern
Entry pullback trade position retracing at the inv. h&s neckline support - SMA20W
TP1 - 161.8% extension +70% @ downtrend triangle resistance
TP2 - 261.8%
SL - B wave lowest position
RRR: 3:1
Bitcoin bull cycle continuation to 55K??Hello guys, don't forget to like, subscribe, follow me on all socials and share with your mates, so they can make money like you want to as well 😆😆😆... anyways..
Based on the chart, Bitcoin after sometime mooning, we needed a place to detour, correct and then continue mooning, so we can get to mars.
So, we have been in a correction cycle where an WXY correction structure is seen, and once correction is complete, then a continuation bullish move is expected until 55k in Bitcoin.
All important areas have been marked accordingly on the chart.
Orders from the current price with a sl: @50K can be executed depending on how your portfolio or account is.
REMEMBER THIS IS NOT FINANCIAL ADVICE BUT A GAME I JUST LIKE TO PLAY WITH SOME OF MY FRIENDS. so if you blow your account or something then Im not gonna be liable.
GMXUSDT 30% PUMP INCOMING!??? Check it out!In my eyes, it seems like GMXUSDT is in for its own bull market. Follow me here on trading view if you want my entry FOR FREE on time. I will be posting analysis of all my other high conviction plays that will make me thousands in 2024 on my trading view profile.
$Mubi #MubiI think this will end up being a BIG gainer once Alt season really begins. #Brc20 plays will continue to gain interest once normies arrive they will think they are SUPER SMART for clinching these types of ideas. Still no major #Cex IMO
Speaking of @robinhood where you at with some NEW coins.
I'm kind of surprised this came all the way back down in the 1st place with all the things that have gone parabolic recently. This kind of got treated like a pump and dump chump. However, I think it is a STRONG narrative going forward into this summer.
Bitcoin dominance: Bull continuationCorrection from 54.40% to 52.8% looks like it has completed completed with a mini divergence in price and volume,
Based on the chart, you can see a 3 wave correction cycle which is WXY has completed, and from here Bull continuation cycle is expected to the new ATHs.
Expect Bitcoin and other tokens or crypto currencies to continue rising.
Pi Cycle Indicates The Bottom of Bitcoin.Pi cycle indicator has shown a bottom signal in July month, that’s the third time in the history of bitcoin.
This indicator accurately predicted the 2015 and 2018 bitcoin bottom.
If this indicator works for the third time then we are at the bottom of the bitcoin bear cycle.
Thanks
Hexa
BTC $57K Next? ATTMO Forecasts ☀️ Conditions for the Next Week Cryptocurrencies rose across the board over the past week and continued their upward trajectory over the weekend. Bitcoin rose 9 percent over the past seven days, with its up-coming halving at the end of April supporting demand.
“Bitcoin appears to target $57,000 as its next resistance, and considering Bitcoin’s performance in the previous pre-halvings, the odds for another leg being higher are increasing,” said the Head of Research at 10x Research, Markus Thielen in his daily newsletter. “This time will be no different as the perception within the crypto community is high that the halving is bullish. This perception is undoubtedly flowing into the TradFi community, which is aggressively buying these Bitcoin ETFs ahead of the halving.”
The price of Bitcoin strengthened 1.5 percent to roughly 52,500 US dollars over the past 24 hours. Read more about Bitcoin’s upcoming halving here.
The steady inflow of funds into the spot Bitcoin exchange traded funds (ETFs) launched in the US a month ago also supports the price of Bitcoin.
ATTMO’s sunny predictions for the next 24 hours and week confirm that bullish trading conditions lie ahead for the global crypto market.
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