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Bitcoinlongtermanalysis

BTC/USD: Looking Bearish (short term)Overview: As many others might suggest, BTC's bull run and dominance has seemingly come to an end . Personally, I believe this was long over due. Its technology as a whole is fast, secure, and reliable; but when considering BTC relative to the thousands of other cryptocurrencies it is superior in popularity but not much else . Elon Musk recently commented on BTC's energy inefficiencies, as it is very costly to mine, and the negative effects it has on the environment. While he is a public figure, do not be so foolish as to think he is the one who is responsible for BTC's retracement... BTC has grown exponentially over the past year alone. It deserves a consolidation period and time for reconsidering its energy consumption. Elon is only pointing out what most of the experienced crypto traders already knew. Comparative Analysis: BTC's Dominance (shown in orange) you can see has peaked at the beginning of 2021, with a high of ~70%, and has gradually been tapering off to almost 40%, as of today. The Total Crypto Market Cap (shown in purple) has closely correlated with BTC's run. This was true until May 4th (highlighted in yellow) when BTC's dominance moved less than 50% and we see this correlation die off. Technical and Fundamental Analysis: Technical: BTC is started to look bearish on a decreasing monthly volume, reaching its March lows. BTC is starting to look bearish as it retests March lows. Could see lower lows if it fails to rebound on the retest. If we see a spike in volume without it rebounding back towards VWAP, BTC may be especially bearish short term. Looking at the Volume Profile (VP) the price level with highest volume is shown at ~$18,500 and this is where BTC might be headed Fundamental: Just looking at the energy efficiency of BTC, things look quite bearish. However, BTC adoption among investors, banks, the general public, and merchants is increasing rapidly. This is good news as BTC should start to stabilize and become less volatile. With the largest crypto market cap, ~$1 trillion, it likely wont see much growth in BTC until ETH, DeFi, and the other sectors within crypto catch up. Trading Discussion (NOT financial advice): Watch for lower lows and monthly volumes. If BTC gaps down in the coming weeks it may be wise to hold until it flushes back upwards and sell afterwards. There are many opportunities for growth even if BTC is bullish. For BTC lovers & HODLers continue holding as you please but do some research and see what developers are working on. If devs are working towards switching BTC from PoW to PoS or some other energy efficient protocol for validating the blockchain then see what that timeline looks like. If BTC does migrate to PoS then decide a good entry point right before the protocol is scheduled to migrate and you might find yourself in a great position for another bull run in the future. Chart Description: Symbol: BTCUSD Index (Bitcoin price in USD index) Comparing Symbols: CRYPTOCAP BTC.D (Bitcoin's % Dominance in Total Crypto Market Cap) CRYPTOCAP TOTAL (The total market cap of all cryptocurrencies) Indicators: Log scale Volume w/ 30d MA VWAP (anchored on the monthly) Volume Profile (180d)
INDEX:BTCUSDShort
by BowTiedJoe
Bitcoin's next move: Rise or Fall? Hello Everyone, I wanted to make a post about my current opinions of Bitcoin. Although I am a bull, I do believe bitcoin is overdue for at least one red month or two and we are starting to see signs of market exhaustion. With what seems as if every large financial institution and tech company is investing in bitcoin, why do I think this? Well, the market is still an algorithm. People are people and need to take home profit to support themselves. Some people have held since $20,000 and may want to take some profit. These types of things will trigger a sell off. Let's also not forget about the technicals: 1. Bitcoin's monthly, weekly, and daily charts are showing bearish price action with volume going down as price going higher. This could also be known as market exhaustion. 2. Bitcoin has failed to close a daily and weekly candle above $60,000. 3. Bitcoin continues to fail to close above our "Heart-line" which is the dotted line in the middle. Rejection could lead to another sell off. 4. Bitcoin has yet to bounce off the weekly 20MA or 50MA which it did several times in the 2017 bull market. 5. RSI is showing bearish "tops" as we are moving higher in price and lower in RSI. 6. MACD is showing clear waning buying momentum or possible exhaustion on the weekly and daily charts. Now, with all of this said, these are the technicals. Volume could come in and we could pump to considerably higher price points. We could just consolidate between $50,000-$60,000 for a while. But in my opinion, if volume does not start to come in, we will not hold above $60,000 and honestly a 15-25% correction would be very beneficial and healthy. I am personally waiting to DCA on a large dip. My buying targets are: $45,000, $50,000, and $55,000. Please leave a thumbs up if you liked the post and comment your opinion below. As always, be patient, use risk management, and good luck trading.
COINBASE:BTCUSD
by RomanXIV
2
Prediction for Bitcoins next top extrapolated from historic dataHello everyone. I saw a post about a prediction for Bitcoins next top that was just ghost candles from last bull run slapped on top of their expected next bull run with an expected high of roughly 300000. I didn't necessarily agree so I figured I'd give my perspective. Historically speaking, Bitcoin has grown logarithmically over the years in such a way that the percent growth of one bull run is half that of the proceeding bull run with a margin of error of about ~6%. If you take the percent growth from last bull run, 1578%, cut that in half and extrapolate that information to the next bull run using the historically accurate logarithmic growth curve as a guide for a stopping point you'll see Bitcoins next top ranging from $150000/BTC to $200000/BTC sometime in the next few years. This all assumes that Bitcoin will continue to grow and that the logarithmic growth curve will hold up. For all intents and purposes, the boundaries of this indicator could certainly be broken to the up or downside due to extenuating circumstances. Feel free to reach out with comments, questions or concerns.
BNC:BLXLong
by CombJelliesAreCool
Bitcoin Halving Comparison, So Far So Good!History tends to repeat itself, and the bitcoin halving appears to be no exception to this particular rule. In 2016, during the second BTC halving, the BTC price experienced strong growth before the halving. A bear market followed, consisting of a 40% drop in price from the pre-halving high to the post-halving bottom. Afterward, a lengthy ranging period ensued. Before the third halving that took place in May 2020, Bitcoin also experienced strong growth of more than 150% from $3,800 to $10,000; just like in 2016, a fast crash followed just before the halving. However, the 2020 crash was truncated and nowhere near as severe as the bear market that traders saw in 2016. Based on this comparison, we can infer that a short correction may follow before the bull market commences. Bitcoin is currently experiencing a range. It took BTC around 160 days to break through the highest price before the halving. We currently sit at 67 days after the halving. While Bitcoin cycles are similar, they are not the same. While it would be impossible to predict accurately when the bullish market will start, based on past trends we can predict that it will most likely occur somewhere between 100-200 days after the halving (or 30 to 130 days from today).
BITSTAMP:BTCUSD
by cryptohopper
3
Covid19 vs Oil vs BTC (LONG)an Oil infected makes the rest infected. We can only reduce the risk in such crisis, more panic will never be a good choice. So its better to wait for the right frame! Candles predicted in red shows the possibility of a fall due to economical influence. However , we all know Crypto always maximizes the return in long if we enter the exact moment. Moreover candles in green are the possibility to reaching BTC around 20K once again :) Play safe, Invest Wisely. Good Luck!
COINBASE:BTCUSDLong
by Moiz96
10
Bitcoin 3 years historical logarithmic chartI made an example of bitcoin logarithmic chart, with the existing uptrend which never broke. Becides that in chart you can see, that every week that passes, there is a higher "lowest point", and it grows per ~100usd per week. Since this is historical chart and as we see that bitcoin never disobey following that trendline. So million dollar question. When ATH? Chart says by the end of 2020, without any significant parabolic ride. If there will be a parabolic rally, then Bitcoin could reach over 50,000$ by the end of 2020. Buckle up, buy all low levels and find your exit strategy :-)
BITSTAMP:BTCUSDLong
by bloodgood
2
BTCUSD - Let´s be realistic, it looks bearishSince the top of June we saw a clear correction to the previous bitcoin level. With the break of the 61,8 fib-level in the area of 7.200$ we confirmed a further downmove. Some people say it currently looks like a doublebottom but i don´t think so. It was definitely a new low and we jumped back into a boring sideways zone. If we want to confirm a bullrun we have to break the green resistance at the area of 7.850$ and later the falling resistance line (blue). I think the likelihood of more downside action is much bigger. The reaction rally yesterday could not create a new higher high, it was lower high. We have to be realistic this a bearish sign. I look for a second test of 6.420$ and the area of 5.800$ - 5.600$. If we reach this levels it is time to accumulate. Please leave a like or a comment!
COINBASE:BTCUSDShort
by nopenny
BTCUSD Daily Chart Long Term Analysis - Beautiful Potential BULLOn a daily Chart I am beginning to see a little bit more sense of which direction I think price might want to go. I see price pulling back a little, then get to the top of that channel and bounce right back to $6,500 if it doesn't break the resistance of that channel. OR Price of Bitcoin might fall a little more (and maybe back to $6,500 and maybe dip towards $5,500) before going to the top of that channel, breaking it and then flying off... OR ...maybe if it dips towards the $5,500 support, it'll break it, make it a resistance, and dive to $2,200. But for now, to me, I think it will finish this pullback and then we go full BULL...but we'll see. What do you think?
BITSTAMP:BTCUSD
by IMNAIJAYOUTH1
1
BITCOIN SHORT Bigger Overwiew Support 7200 and 6900 must hold.Hello to all watching my charts. No after the big fall yesterday i think we should have a closer look to the big picture, cause in shorttime its all Short , all of my channels show me "short" of cours. So have a look at the picture. Where are we now ? We had a break of the long lasting LONG trendline 4 weeks ago in September. That has ocurred the first big move down to 8800 and now the next step down to 7500. Here in these aerea we do have 3 major supports coming in from May and June 2019. Now we are sitting in the aerea of the first support at 7500 (folling down a little bit) Below that Bitcoin can get support at 7200 and around 6900. If both Levels dont hold i am afraid we will see much much lower prices. Thats to watch Good trades If you want to support my work please like them... and if you want to know more about my trading style please send my a boardmail. Renkotrade
BITSTAMP:BTCUSDShort
by Renkotrade
4
BTCUSD - 8k done and 7k still in playCorrection over? Maybe but i do not believe it. Here are my thoughts: In the daily consideration we can see a double bottom at 7.7k. That means the dump is temporarily over and we have to accept a consolidation for the next few days. My target area is 8.9k with a touch of the falling ema-ribbon. Even if it can continue to rise at the moment i don´t so see a high probability. The scenario is obsolete if we see prices over 10k. After this consolidation i expect a final move to 7.2k (worst case 5.4k) and the potential start of wave 3 of 3 in a elliott wave prospective. For this move i will observe the weekly ema-ribbon. I don´t see any contradictions if we shoot over to the downside but we should close above the weekly ema 55. Please leave a like or a comment!
COINBASE:BTCUSD
by nopenny
Bitcoin Long Position:BTC Getting Ready For a Big MOVE Upwards!Based on AB=CD pattern , Time Ratio & Gann Analysis, It's a potential long position to gain good profits. In a lower time-frame (4hrs) this long position has also been conformed. Target profits are mentioned in the chart. Adjust your Stop Loss according to your lot size, account equity ,strategy & money management. ***If you want to get in this trade from this point 7819, you can still make profit till TP1 is reached, however there is a very high probability that price may continue to move down towards my ideal entry point., It is recommended to enter with a smaller lot size if you want to go long right away & manage your stop loss accordingly. Good Luck.! * This is my personal view and analysis on this chart. If you follow this idea please plan your trade according to your lot size and account equity. Don't forget to like, If you like my analysis :)
Long
by Jaffery