Bitcoin Analysis: Key price zones to watch.
Hello traders.
Bitcoin is showing a sideways momentum for now which is fine and was expected to do so. I've kind of already covered this expected side ways action in my Mar 17 analysis where I said it would clear all the buy and sell side liquidity in the zone of $27k-$32k.
Well we never actually reached $32k mark but were close to that.
Now before the Bitcoin price moves up, what I want to see is a nice retracement leg where I can find my entry points.
I've marked two areas to be my point of interest in Bitcoin. First area is between $23800-$24123. Reason is simple. It's the zone sitting at 50% fib levels of the recent expansion from $19k. So it's a bounce back area for me.
The second area where I have my eyes on is $21k-$22k price range, as it offers a discounted area to buy Bitcoin. The said zone is also an unmitigated zone and the chances are high for Bitcoin to tap into this area and bounce.
I'm using a 4h timeframe for my analysis and hence it may take time for Bitcoin to shape out the structure that I want to see.
Bitcoinmarkets
Bitcoin heading for the tread lineThis chart is inline with my previous charts, that bitcoin might pump in the short term to 40K+ range before an impending global recession
Look at my previous ideas which have detailed descriptions.
I am not hard set on higher 40s btc or the price touching the drawn trendline, since lines can be drawn in numerous ways.
Maybe, good idea to start taking profits 35k onwards until 48k
Note:
1) Not financial advice. Do you own research.
2) I am not buying now, the target range of this chart is my exit point
Bitcoin -> The Final DropHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Bitcoin just recently perfectly created and also already confirmed a quite nice inverted head and shoulders with the neckline being exactly at the $25000 area.
From a weekly perspective everything seems quite bullish overall so I am now just waiting for a retest of the neckline before I then do expect the next push towards the upside.
On the daily timeframe you can see that over the past couple of days Bitcoin has just been trading in a sideways range so I am also on the daily timeframe waiting for a retest of the $25000 area and then the next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Bitcoin Retraced Backup - Signaling The Next Move - Up Or Down ?Bitcoin/1H Doing a pennant
The pennant after a upside move indicates a bullish pattern that could go to 30K but dont forget the ascending triangle it formed before crashed down. so this could be a jebait too. Ive talked about this in details in video
Liquidation wise we have some around 27.3 (1000M) and some high leverage around 28800.
Some indicators are bearish which I mentioned in Video
Thank for watching and for you support
#BTC/USDT Important Update!#BTC: Closed above $27300. Expecting a short-term bounce here.
However, the price has finally made a new lower low in LTF indicating a change in the short-term trend.
A bounce around the $28k-$29k area will trigger a sell signal.
TBH, Things are still uncertain.
I will hold my BTC and sell on upper resistance levels if it gets there to get into Alts.
Also, to keep in mind, There's a possibility for BTC to hit $40k too but for that, it needs to sustain above the 30.5k level. This is another scenario that I will explain in upcoming updates.
Technically the price is looking to bounce here followed by some corrections.
NFA, DYOR.
Do hit the like button if you like it and share your views in the comment section.
Thank you
#PEACE
POSSIBLE INVERSE HEAD AND SHOULDERS ON BITCOIN $9,300 PUMP??How about you guys but I clearly see a inverse head and shoulders with a perfect neckline to perfection. Let me know what you guys think. It looks a lot better and different time frames as in smaller time frames, where it actually shows two smaller little shoulders on each side as well like those small appendixs on an inverted head and shoulders although this goes against my Elliot wave theory analysis, this still looks highly valid
Projecting Bitcoin to $6,400,000 million (10.496 trillion VOL)
Working on creating an accurate model to project Bitcoins future movement, this would not include a market-cap its irrelevant, almost like me giving you a map to the treasure with an X without the path? what would be the point.
To make this simply take the daily FX volume averages from reports saying this can hit $6 trillion per day of transactional volume
Bitcoin as of the last weeks does somewhere around $41 billion of volume in USD per day yes that is 146.34 x smaller than just the FX currency market, not including bonds, equities, other assets.
Take the network price of 1 Bitcoin giving us $11,679 at around just under half the 41 billion you start to see the volume of money on the network is what drives the Bitcoin price.
Next we take the model and expand you start to see even at 5.2 trillion of volume we would hit a Bitcoin pricing the network at 3.2 million, and this would be assuming that the same circulating supply is the same for the next 10 years. The supply will likely reduce and be held offline reducing the daily traded BTC volume on average in the last years adding a multiplier to the Bitcoin valuation, something impossible to try to predict a nation state could turn around today and purchase 500,000 and keep them offline at a moments notice.
Instead of looking at the value of 1 Bitcoin $25,000 is expensive because you're looking at $25,000 nobody who owns gold jewellery knows the price of a 1kg gold bar or cares about the value.
A Bitcoin price of 6.4 million seems too expensive ? when in reality if Bitcoin captures international trade in multiple assets its not even the start of where it could go.
458,495.00 USD is the price of a single Berkshire Hathaway share, yet a share of Nike is 121.10 USD many people can own a share of Nike not many can own a share of Berkshire.
Reference 1 share of Berkshire in 1984 was $1,280 - $1,280 in 1984 is worth $3,685.64 today.
Bitcoin PRE-FOMC Analysis - BTC Struggling to continue upBitcoin/1H is doing a parallel upward channel ( consolidating inside it )
We filled the gap ~28700 but with a doji candle - and has not yet touched it again . these two are sign of weakness for btc meaning down is more promenent
With FOMC tomorrow I think we gonna continue consolidate in that parallel channel today . Some High leverage around 28.4 to take (70M)
There are 3 stops if we start to go down wards that I have mentioned in the video
Some of the things I mentioned in this video will be repeated tomorrow I think,lol
Thanks for the support
Bitcoin Daily - Facing strong resistance now
As we can see from the chart, PA is coming to a point where it is going to get squeezed from a number of places
Still Stuck under the 2.618 Fib circle and with FED on Wed, we could see PA cool off for a bit BUT, this is BITCOIN, 24/7 trading, it may run up to that Long term Resistance.
If rejected from t here, a return to $25K is possible but that would be bullish, as it allows PA to recover some strength
If PA breaks through that line, then I would expect it to then test as support before continuing.
It is impossible to say whats about to happen but one thing I am sure of, the talk of the $1 Million BTC in 90 days is just STUPID. Don't get wrapped up in that. For me, near $40K is possible over the next few weeks IF and its a big IF, fundamentals work in favour. From there, we Will see whats happening
PA is Very overbought on lower timeframes, Daily is approaching that and FOMO may take it further but PA has to cool off at some point before it continues.
While Banks struggle, GOLD is Bitcoins on ly challenger for the title of SAFE HAVEN NUMBER ! but BTC does have a higher % of gain, and people are seeing this
Trade safe
Bitcoin new bull-trend is just begins!!#BTC Weekly Chart
Falling Wedge Breakout and Retested are done 👍✅
BTC is above the Both MA's( 21MA & 50MA) after 9- months and RSI at 65 is also giving us some momentum from here.
Now Bulls need to break the 31k level for confirmation the new bull-run!!
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Does LPT has enough potentialsI currently Bullish overall in this trend long term
But in the short term an accumulation could be playing out
So for the levels am watching the most and wish to see fill or accumulate
Manipulate enough liquidity
then expand to the Bias that should resume
This is not a trade advice or trade signals
DYOR
#Bitcoin - thoughts out loud #05Good evening , we are from Ukraine!
The price range has been reached. Next, I assess the weakness of the acquisition recovery. UT is fixed, UTAD is possible. I'm going to support the trade.
Thank you all for your attention, I wish you success .
Sometimes you win /sometimes you learn .
#Bitcoin
‼️ BITCOIN BULLISH ✅✅✅✳️‼️To update our last BTC idea,
We had two scenarios, as expected price chose the first scenario and it followed as we determined in the last analysis,
We have a strong supply zone around 28000, we expect the reaction to this zone, with a bit of corrective move,
For keep the position until 28000, but be careful try to manage your trades properly,
Any questions comment below,
@FxShzd
ACB CORRECTION | BITCOIN MARCH 17, 2023BITCOIN TA
There is a scenario where the 5th Wave is not complete and bitcoin could push up further to $28,400.
However, if it drops to the $25,600 level, there is a greater chance that we could be in the beginning of the ABC corrective wave.
Wave A will move down in 5 waves and a SHORT position may be available at the end of wave (iv).
TP level : $24,000
**Not Financial Advice** Please leave a LIKE and COMMENT and let me know your thoughts.
BITCOIN MOON
What do you think? We still early once Fed start printing $$. If only FED stop curving inflation then we FLy, If Fed still want to raise hike rates, then we go bottom next week. 25 or 50BPS?
But my theory would be rekt all banks because of their FEDNOW payments system or the CBDC? This year might be wild on CRypto Space and Stocks.
So stacking cash for the dipped weve been waiting.
This is not a financial advice, trade base on your own decissions.
Follow FOr more
Rejection from 50 weekly MA. If the price of Bitcoin is above the 50 MA and continues to rise, it may be seen as a good time to buy or hold onto Bitcoin as the trend is bullish. Conversely, if the price of Bitcoin is below the 50 MA and continues to fall, it may be a sign to sell or avoid Bitcoin as the trend is bearish.
Historically, 50 weeks MA played an important role in the last 2 cycles as well.
Bitcoin Weekly and regaining the 200As you can see from this long term chart on Bitcoin, it has the vast majority of its life ABOVE the 200 EMA ( Yellow)
In the week of 13th June 2022, the unthinkable happened and PA dropped below it and many believed that was it, BTC was Dead
For the last few Weeks, PA has been banging up against it and This week, PA has fully broken above. On the USDT chart, PA has remained positive above it while on this USD index chart, it has only Wicked up but the weekly candle is not closed yet.
Not only This but Bitcoin PA has slowly and Surely been taking back the losses incurred by the unprofessional in the space with the collapse of various organisations, like FTX.
Bitcoin is waking up but do not start running, this is just the start, we have a way to go yet and there are HUGE fundamentals that will continue to hammer recovery but World Wide Sentuiment is STRONG - Note the world WORLD WIDE - THAT is what makes Bitcoin Strong.