Bitcoin doji candle signals potential reversal - time to enter?A doji candlestick pattern is a type of candlestick formation that occurs when the opening and closing price of an asset are very close to each other, resulting in a candlestick with a very small real body. This pattern indicates indecision in the market, where buyers and sellers are equally matched and neither side is able to take control.
When a doji candlestick appears on a weekly Bitcoin chart, it can signal a potential reversal in the current trend. This means that the current trend may be losing momentum and a new trend may be emerging. Traders who use technical analysis may interpret this pattern as a signal to enter a trade, depending on their trading strategy.
However, it's important to note that the doji candlestick pattern should not be used in isolation when making trading decisions. It should be used in conjunction with other technical indicators and analysis to confirm the potential reversal and to determine the best entry and exit points for the trade.
Therefore, a trader may consider entering a trade based on a weekly doji Bitcoin candlestick pattern, but should also take into account other factors such as support and resistance levels, trend lines, moving averages, volume, and other technical indicators to make an informed trading decision.
Bitcoinmarkets
Will Bitcoin continue to fall?BTC: Judging from the daily chart, the market was super negative yesterday, which seems to mean that its direction is chosen. Even if there is a rebound trend after the plunge, both in terms of the strength of the rebound and the time of the rebound, the bulls are basically defenseless at present, and as the rebound trend gradually consumes the rebound momentum, the height of the rebound will also decrease.
On the 4-hour chart, the market has returned to the structure of the third wave again, and the decline has been strengthened and confirmed. Now that the third wave is not in place, the probability of continuing to fall is relatively high.
And on the fundamentals, the risks still tend to be downside due to the ongoing concerns about the ongoing cryptocurrency crackdown by US regulators.
Therefore, in terms of operating ideas, it is mainly based on rebound shorting, and the height of the rebound can be appropriately reduced, so don't easily try to make a profit from the rebound.
BTC: 20800-20900 short, target 20100-20000
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BTC Bitcoin Bearish Chart PatternsAs you can see in the previews chart, BTC price movement went exactly as predicted:
Now Bitcoin has a double bearish divergence on the RSI and i don`t know why it is trading so high right now.
According to the Fibonacci retracement tool, the price target level for BTC should be in the 0.618 area, respectively $19650, which coincides with a strong support.
Looking forward to read your opinion about it.
Bitcoin -> Bullrun Already Over?Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin is now actually breaking below the previous support zone, creating bearish market structure, so at least for the short-term, everything seems quite bearish.
However you can also see that Bitcoin had a quite massive pump recently, the emas also shifted towards the upside, so I just expect a short term correction to the next support zone and then the longer term continuation towards the upside.
On the daily timeframe you can see that the market is basically in free-fall mode, so I am now just waiting for a retest of the next support zone at the $18500 and if we then have some bullish confirmation, I do expect the next impulse towards the upside from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Bitcoin BTC Price Targets after the FSB meetingThe Finance Stability Board said today that many stablecoins won`t meet the requirements stipulated in its recommendations for cryptocurrency asset regulation.
This could have have ripple effects in the entire crypto industry!
My price targets for Bitcoin BTC are:
BTC/USDT short
Entry Range: $24500 - 25000
Price Target 1: $23550
Price Target 2: $22800
Price Target 3: $21550
Stop Loss: $27000
Bitcoin Follows Falling Wedge Pattern#Bitcoin 1day #TA at #KuCoin
As par my 4-5 days earlier chart, its perfectly moving on Falling Wedge Pattern and breaks their first lower cut-off point $21.5k and continues to be breaking towards second cut-off point of $19.5k - $18.5k soon.
While, BTC reached at $20k at present time of posting chart.... Lets see for another downfall soon..
#Bitcoin - thoughts out loud #17 !!! IT IS IMPORTANT TO READ THE DESCRIPTION !!!
Good afternoon , dear colleagues!
I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument.
For the current period of time, I continue to look for opportunities to buy an asset cheaper.
As in the previous opinion, it was said that the range of 23000 - 23200 is a benchmark for further movement. As we can see, there is no professional activity. I expect purchases to resume around 19000 .
Thank you all for your attention, I wish you success, and remember:
Sometimes you win /sometimes you learn .
#Bitcoin
BTC Falling Wedge!BYBIT:BTCUSDT.P
BTC price action is at area of value. But could test lower levels of the zone.
Sitting in Falling Wedge with 68% chance for break to the upside.
Watching for possible fake out (breakdown and then reclaim) of 21.5K area for Long or Double Bottom.
Should BTC bearish retest the zone, possible target 18K.
Always having Plan A and Plan B scenarios so we can react once the markets provide an opportunity to execute our edge.
If you liked this idea or if you have your own opinion about it, write in the comments.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
BTC/USD#bitcoin
impulse correction bitcoin is correcting to continue its rise to its highest levels since 2021
there will be several long-term buying opportunities
$21553
$20407
$19262
$17632
#bitcoin #btc #Cryptocurency #crypto #trading
it's important to note that the cryptocurrency market is highly volatile and subject to sudden price swings that can be difficult to predict. Therefore, it's important to approach any analysis of Bitcoin with caution and to keep in mind the risks involved in trading cryptocurrencies.
BTC Slow Bleeding Could End In A Catastrophic MoveBitcoin is slowly bleeding down and with todays news it could actually get volatile.
If we want to go lower before any retracement to the upside it could be all the way to 18.4 (big capitulation candle) or fill the gap (20400 to 20k) with a wick around 19.5 and bounce back up.
There is a big cluster of liquidation from 22.4 to 23.4 (near 8M) which shows a possible pullback there to grab those liquidation.
Bottom Line is Crash did not happen yet and is YET to happen.Longing is not recommended at all cause we could flood down.
DXY is looking very strong as SPX losing power day after day.
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Bitcoin is under bullish divergence influence.Bitcoin - 24h expiry - We look to Buy a break of 22666 (stop at 22106)
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
We are trading at oversold extremes.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A break of the recent high at 22606 should result in a further move higher.
Bullish divergence is expected to support prices.
Our profit targets will be 24066 and 24366
Resistance: 22150 / 22400 / 22606
Support: 21800 / 21500 / 21352
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BTC 1h✔️BTC BULLISH trend Just got started it might even lead to new high 📈📈📈
22800
23000
26000
26500
these prices might get touched in future days
follow to stay tune for UPDATES !!!🐂❤️
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Bitcoin nothing to worry about.Path to 80kBitcoin is still on its way to 50k and then 80k. However 25k proves to be a very strong resistance mark due to the 200EMA in the weekly being located there causing an inevitable correction on the lower time frame. Until we are able to break we will be correcting. For the meantime 19-20k seems like a reasonable target If it doesnt go up from here soon.
I am sharing these ideas so my member can see. I don't explain much in here.
Bitcoin daily chart explainedSo, After Mr Powells speech of doom and Gloom, Bitcoin lost around -3.3%
PA wicked down to the 200EMA and bounced off that.
It is important for PA to remain above this level as it is also the neckline of the FTX Crash recovery. Dropping back into that area would not help Sentiment. this also happens to be the 382 fib retracement line. Usually acts as support.
RSI is low as is MACD and the signal line is approaching 0 so we may see a turn of trend soon.
there is little doubt that FED unsettled the markets yesterday but it was not a huge crash so we look ahead to today and see what they do next
DXY is going to be interesting
BTC 1h✔️update 2 !!!! still going according to the plan
It's all depends on where this range gonna break either 22k or 22.7k then we can say trend is bullish or bearish !
bitcoin possibly is going to go for a up trend range and then a Bearish path to 20990 .
how ever now we touched the s3 and comeback to 23k is still possible but weekly is going for 19.6k
BINANCE:BTCUSDT