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Bitcoin -> Please Don't PanicHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that Bitcoin just retested and already rejected a quite obvious previous weekly support zone which was now turned resistance exactly at the HKEX:30 ,000 area. As mentioned in my last analysis linked below, after a 90% pump over the past couple of weeks a short term correction was quite likely and maybe Bitcoin will also retest the $24,000 level from which I then do expect a next rally towards the upside. On the daily timeframe you can see that Bitcoin is currently already retesting a previous daily support zone at the HKEX:27 ,000 area so after we get some bullish confirmation, we could already see a short term rally towards the upside from here. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
BITSTAMP:BTCUSDLong
by basictradingtv
33
Liquidity Grab Towards Relative Equal Lows and Equilibrium PriceBTC is correcting towards its relative equal lows. In trading, relative equal lows refer to the occurrence of two or more lows in the price of a security that are approximately at the same level. These lows are considered "relative" because they are compared to other lows that have occurred in the recent past. If a security has formed two or more lows at roughly the same level, it suggests that there is a level of support at that price point, and traders may see this as an opportunity to buy the security at a potentially favourable price. However, it's important to note that just because a security has formed relative equal lows does not necessarily mean that the price will continue to rise, and traders should always consider other factors such as market trends, news, and economic indicators before making a trading decision. The Fibonacci 0.5 level is often considered as a midpoint or equilibrium point in price movements. However, it is important to note that it is not a fixed or absolute level and should not be relied upon solely as a trading signal. The Fibonacci retracement levels are used in conjunction with other technical analysis tools and indicators to identify potential support and resistance levels, as well as entry and exit points for trades. Therefore, while the Fibonacci 0.5 level may provide some information about price equilibrium, it is only one factor to consider in a comprehensive analysis of market conditions.
BINANCE:BTCUSD.P
by Fondera
Bitcoin to continue in a selloff? Bitcoin - 24h expiry - We look to Sell at 28997 (stop at 29697) We are trading at overbought extremes. Prices have reacted from 30987. A Doji style candle has been posted from the high. A break of the recent low at 29020 should result in a further move lower. We look for losses to be extended today. Our profit targets will be 27247 and 26847 Resistance: 29500 / 30000 / 30450 Support: 29020 / 28400 / 28000 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
VANTAGE:BTCUSDShort
by VantageMarkets
#Bitcoin - thoughts out loud #18!!! IT IS IMPORTANT TO READ THE DESCRIPTION !!! Good evening, we are from Ukraine ! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this asset. After the false breakout and liquidity withdrawal, I would like to draw special attention to the increased volumes and the price's rapid return to trading margin. At the moment, this is not enough, there is no confirmation. At this stage of the situation, we can partially open a position (5-10%). Then monitor the situation and add the rest of the volume if the buyer's test is successful and there is activity from professional operators, i.e., the asset needs a force to move the price to the next liquidity (price range 23300 - 24300 ). The mood is long, that's the only way. If the current situation does not meet the current criteria, I expect the asset to depreciate to 19000 . Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn . #Bitcoin
Long
by WVitalievich
Sideways Movement is Here!I think we will go a little bit sideways in a very tight range because last time we spend too much time in the 27.5K - 28.5K range. In financial markets, sideways movement refers to a period when the price of an asset remains within a relatively narrow range, moving up and down without a clear trend in either direction. Sideways movement can last for a few days to several months, and it can occur in any asset class, including stocks, bonds, and cryptocurrencies. There are several factors that can cause sideways movement in financial markets: Lack of new information: Markets often react to news and information, such as economic data releases, corporate earnings reports, or geopolitical events. When there is a lack of new information or no significant news that affects the asset's value, the price may remain stable, resulting in sideways movement. Uncertainty: Uncertainty is a significant driver of sideways movement. Investors may hesitate to take action or commit capital when there is uncertainty about the future direction of an asset. This uncertainty can be due to a variety of factors, including geopolitical tensions, economic policy uncertainty, or market volatility. Technical factors: Technical factors, such as support and resistance levels, can also contribute to sideways movement. When an asset approaches a key technical level, such as a moving average or a trendline, it may bounce off the level, causing the price to move sideways for a period. Market consolidation: After a period of significant price movements, an asset may consolidate, moving sideways as traders and investors digest the recent developments and reassess their positions. Lack of trading volume: Trading volume is an essential factor in financial markets. When trading volume is low, the price may move sideways as there is not enough market participation to drive significant price movements. Sideways movement can be frustrating for traders and investors who are looking for clear trends and opportunities for profits. However, it is also a natural part of the market cycle, and it can offer opportunities for patient investors who are willing to wait for the right moment to take action. Also Dominance chart looks so good for altcoins. If Bitcoin's sudden movement means a rise for dominance. However, as far as I have observed, the BTC dominance graph is not suitable for this. I have positive feelings about a short-lived altseason.
by xuk1
BTC SHORT! | Publishing Ideas is my new addiction Alright folks, buckle up for a wild ride on the Bitcoin express! We're going to take a 15-minute trip through the price movements of everyone's favorite cryptocurrency. Think of it like a roller coaster: you've got your ups and downs, twists and turns, and of course, a few stomach-churning drops. But don't worry, we'll hold your hand the whole way and help you make sense of it all. So, what do we see on this chart? Well, it's a bit like a high-speed chase, with the price of Bitcoin zooming up and down like a race car on a track. But fear not, we have our trusty technical indicators and tools to help us navigate the twists and turns. We'll be on the lookout for those key levels of support and resistance like a hawk hunting its prey. And when we spot a breakout or reversal, it'll be like hitting the jackpot at the casino (but without all the noise and flashing lights). So, hang on tight and let's ride this Bitcoin coaster together. Who knows, we might even have some fun along the way!
Short
by xuk1
Bitcoin, Crypto, and The Virus of Greed Alrighty, now that Bitcoin is flirting with thirty-one thousand, it's time for a real TA / FA update. (Tradingview's got some weird glitches recently so I have to write out some of the prices). I did suggest back in November that Bitcoin seemed due for a rally towards $30k. I even suggested that a quick test of the $19.8k level was necessary for a break of the pesky twenty-five thousand resistance: Here were my "best-case scenario" options, posted back in Summer 2022: Even though I have been heavily biased to the downside, I have considered the $30k possibility for many months. We're finally here. Now what? Spring has arrived where I live, and work has been pleasantly slower the last couple weeks. So, I have some time to write. At this point, many of you already know my fundamental analysis on Bitcoin really soured during the last bull run. So if you don't want to read what I have to say or simply do not believe it to be valid, you are of course free to skip over this post. Though one does not need to believe something to be valid in order to listen. Someone posted on Reddit earlier this week about "the most hated bull run" - I think they'd be correct, particularly if Bitcoin continues significantly up from here to make new all time highs. I think this is because a lot more people now really don’t like Bitcoin, due to the media, due to personal experience, or due to simple reasoning. Crypto is coming off the most widespread bull run since its inception, and the ensuing crash, exchange failures, scams, etc. got a ton of negative media attention. And it has also impacted the lives of many - for the worse. Not only financially, but in terms of the sheer amount of time and attention spent on the market. I feel incredibly lucky to have gotten out with significant profit, but most did not have such fortitude to both hold through the 2018 bear and make timely sells in 2021/2022, as evidenced by the minuscule number of people who reported crypto gains on their taxes this year. I got all my crypto out when Bitcoin was at least $40k, with a theoretical average purchase price of sub- $6k (theoretical, since I held mostly alts). So, it would take a lot for me to really feel like I've missed out on gains this time around. I suppose if Bitcoin continues up, the people who didn’t buy sub $20k would watch it go up and scream “WHYYYY?” Because they’re confused. Maybe they also sold the lows, believing that Bitcoin was finished for good. Even “better” yet, they had their funds trapped in an exchange or service that failed. Now they have to watch as everyone who held on and were fortunate enough to avoid all the fraud, scams, etc. get rich and become their new feudal overlords. Still, I maintain my position that Bitcoin is and will likely continue to be a net negative for society. Sort of like a human-engineered, greed-driven virus that inevitably spreads but has systemic, insidious consequences (such as 2nd millennium feudalism and wasted time/energy). Just think about our cultivation of wheat, and how it caused a major shift into a sedentary, feudal lifestyle rather than cooperative hunter-gathering. Was this ultimately good for humanity? Higher prices tend to attract new investors, who then tend to be dumped on. The average person seems to only like Bitcoin when it’s expensive. This tells you a lot about its utility and its viral nature. So, I am against further price appreciation. And I will be one of the haters if it continues into another bull market. If I were still fundamentally bullish, I'd need to find evidence that the reasons why Bitcoin could be moving up are in fact authentic. I'm really not seeing it. Are There Any Positives? I remain very dubious. I want to see what the space looks like once CZ, Stablecoins, and Justin Sun are no longer such significant factors. I guess we’re already seeing the market after a big purge - so that’s a positive (?). We’re also seeing that Bitcoin is rallying along with gold as people run from the banks. Nevertheless, liquidity has truly dried up, and volume shows it. Still more liquid than gold or real estate, so there's that. Given this, I think Bitcoin can appear to be a short term safety valve for some. This is the only short term bullish narrative that makes sense to me. But I wonder how bitcoin would have faired had the banks NOT been bailed out recently. The perfect test of $19.8k (important as the 2017 all time high on some exchanges) occurred as the bad news caused panic....though price headed back up once CZ bailed out crypto (publicly stated on Twitter) and the U.S. all but bailed out the banks yet again. As Bitcoin has moved up, BNB and TRX have faired especially poorly. Meanwhile, the USDT supply has ballooned, as regulators have come knocking at BUSD and confidence in USDC has declined. USDT supply chart, showing a major spike that correlates with the 2018 bottom: messari.io There is some evidence showing that crypto itself is also bailed out by money printing, just like traditional markets. TRX and BNB Charts: Of course, we all know alts sell into Bitcoin at the beginning of a new bull market. So at least there's that. But even now, #2 is starting to outperform again. I do not think this will last, as ETH/BTC has broken a long term uptrend (I wrote about this in my most recent post). And if ETH/BTC does get back above the broken trend, well I think it becomes even more likely that Bitcoin will see new lows. Let's Look at The Technicals Longer term MA’s are still looking a bit precarious, so any drop back below twenty-five thousand and the weekly 200 again is likely to quickly instill some fear in the market. The 9 week EMA (orange) is also important, as you can see from the previous bull run. Currently, that's in the mid- $26k area. Below $19.8K and I think we’re more likely headed to new lows. The 100 week MA (yellow) has been on a constant decline for 21 weeks now. It only makes sense that price would correct up towards it, which is something I've been speculating about for a while. Maybe there's a little more gas in the tank for a test of the mid-$30k range...though as you can see on the chart, weekly volume is starting to drop and the oscillator is hitting the overbought zone (though it can stay in that zone for some time). Usually however, this is a sign that things are starting to get a little overheated, and even the futures market is starting to wake up, with open interest skyrocketing over the last couple days. Source: www.coinglass.com The last time the 100 week MA declined consistently week-over-week was at the end of 2019 - beginning of 2020 for about 10 weeks. Then it flatlined. The 50 week MA has been declining now for 66 weeks so far, also the longest in Bitcoin's history. In 2018, it only declined for 28 weeks. This still shows us that this has been an aggressive bear market. In 2018, the 100% bounce from the initial $6k low occurred almost immediately. This time, it took many months to produce a significant bounce from the lows. This is why the MA's have curved down so much. Bitcoin arguably needs to get back above its last all-time high quickly to avoid longer term stagnation and decline. This is also because fundamentally this is a time where Bitcoin needs to prove utility. Now, already people are saying new lows are extremely unlikely, and that this is the start of a new bull run. Meanwhile, funding has flipped very positive and OI has spiked. Source: www.coinglass.com Indeed, what about that utility? Just think about it - there are still ONLY ABOUT 1 MILLION Bitcoin active addresses. This means individual, self-custodial adoption has stagnated over the last 5 years. Source: studio.glassnode.com This implies that much of the growth is on exchanges. And we all know how that's played out. Although the average person is using an exchange like Coinbase to hold their coins, exchange balance is historically low. Source: www.coinglass.com This means it's being hoarded by just a few people who bought early enough and simply refuse to sell. Now, let's say Bitcoin becomes a global reserve asset or we end up in a scenario where everyone "needs" Bitcoin. BILLIONS of people (meaning THOUSANDS of times more than the number of people who already use it) will need to purchase it from people who already own it, or the people who own it will need to hand it out. Exponential growth would need to occur over the coming years. Bitcoiners still hold out for this magical moment. Nevertheless, there is not enough evidence yet to suggest Bitcoin can flow freely through an economy in a healthy manner. Logistically, Bitcoin adoption it seems extremely flawed to me. But....humans are not logical or rational, so I suppose if you can make money trading Bitcoin (as long as you are not attached to a narrative) it can be extremely lucrative. That's why I'm still on this sub - it's about trading, at the end of the day. Even though I lean towards the bearish narrative, that clearly does not mean price will go down. As I stated above, individual, self-custodial adoption has essentially flatlined. We've seen a very slight increase due to the recent price action attracting some new buyers. Overall, the trend has significantly slowed since 2017. With only 1 Million active addresses, this is peanuts when compared to global economic activity. This number would really need to exceed the 2018 and 2022 ATH of roughly 1.2M, and the number would also need to increase as price drops, showing authentic, non-price driven demand. Hate to break it to the bulls, but this is not promising so far. Let's see though! As always, things can change on a dime. If the global situation shifts abruptly for the worse, I have a feeling there will be much more to worry about than digital assets. And if it shifts for the better, the doomer bitcoin hoarding narrative may simply fade away, since Bitcoin is regressive in concept (hard money) but futuristic in its medium (code). To me, an optimistic society seems unlikely to want to regress or set limits on how we may transact. If society continues down the route of pessimism and distrust, I can see Bitcoin becoming more popular. As I look at RKF Jr and the fact that he's endorsed by Steve Bannon, I worry that Bitcoin's dangerous flirtation with fascism will become more than just simple flirtation. Bannon has outwardly said in interviews and documentaries that he is working to build fascist governments in the U.S. and Europe in order to cause broader, violent conflict. His endorsement for a Bitcoin-backing democratic candidate should give anyone pause. How awful would it be for people to be siphoned away from their real economic means through Bitcoin, only to be commanded to give it all up to the government? Remember, addresses are public, especially if self-custodied. Populist movements can quickly become authoritarian and fascist. Bannon wants disorder and distrust so him and a select few puppets can take control. He loves this stuff. He lives and breathes manipulation on a mass scale. The virus of greed. Looking Forward I think this is a time where people should be investing in their communities, and sharing their gripes with their neighbors. "Protesting with your wallet" is passive, and it won't do much good if you're so over-invested that you lack the means to get yourself through the week or save for an emergency. Looking at the ballooning credit bubble, this seems to be a terrible time to leverage any bets. My current speculation is that we can see this bubble pop some time over the next 2 years, resulting in market chaos and a return to community, with mass-disillusionment and distrust of governments, finance, and institutions. Bitcoin may seem attractive, but in the end I think adopting it would be counter-intuitive as mentioned above. Future-building takes action, and strong social/material infrastructure. Bitcoin does not offer this. I think we should be weary of the true implications of Bitcoin, it's hold on the mind and its diversion away from intentional, productive investing. The alternative is not just stocks or the traditional financial system. There are plenty of other options. Greed is really fear in disguise. I apologize if any of this is difficult to parse out. Just sharing my thoughts as we continue through this fascinating times. Best of luck trading to everyone! Any hate/disrespect will likely be met with humor, as I just don't have the energy to respond in kind. -Victor Cobra
COINBASE:BTCUSDShort
by VictorCobra
5
BitCoin In Bullish Sentiment, More Highs Expected!Bitcoin has been experiencing a bullish trend over the past few weeks. This week, more accumulation is expected at target levels 1 and 2 acting as potential resistance points. At these 2 levels, prices are expected to face rejection upon reaching them. This consolidation phase could pave the way for future growth in the cryptocurrency. Market conditions can be unpredictable, so caution and due diligence are advised for those considering to invest in Bitcoin. N.B! - BTCUSD price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use Proper Risk Management In Your Trades #bitcoin #btcusd #BTC
COINBASE:BTCUSDLong
by BullBearMkt