Bitcoin 20k
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Bitcoinprediction
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Bitcoin could finally make a moveBitcoin has been trading in a very tight range for the past week, showing little volatility and movement. This period of consolidation typically suggests that the market is indecisive, with neither bulls nor bears managing to take control. However, today there seems to be a bit more momentum, and it looks like Bitcoin might be preparing to break out of this range, potentially breaching the upper boundary.
If the price manages to break through this resistance, we could see an acceleration towards higher levels, with a potential target around 68k.
BTC Short Term Bullish ViewLooks like BTC is heading to break the 64000 zone once again, and retest the recent highs.
I've marked the resistance levels where the price might slow down or struggle to break.
BTC is respecting the channel and in my opinion it might retest the high of the channel and try to break 65000 if we successfully break 64500 levels.
Let me know what you all think. I'd be happy to hear your analysis on it.
Good luck!
Bitcoin (BTC/USDT) 1-hour price action + trade planTechnical analysis for Bitcoin (BTC/USDT) 1-hour price action with multiple indicators and a descending triangle pattern by Blaž Fabjan
Chart Patterns
Descending Triangle: This is a classic pattern that typically suggests consolidation, and in many cases, a breakout (especially when formed in an uptrend). The triangle seems to be nearing the apex, indicating that a breakout could happen soon.
Breakout potential: Since it's forming within an overall uptrend, the triangle suggests the possibility of a continuation of the uptrend after the consolidation.
Indicators
VMC Cipher B: The VMC Cipher B shows wave-like movements indicating market momentum and divergences. It looks like the waves are approaching a positive curve, indicating a potential bullish movement if confirmed by momentum.
RSI (Relative Strength Index): The RSI is hovering around 50.49, which shows a neutral trend at the moment. No overbought or oversold conditions are present, leaving room for upward or downward movement depending on the breakout direction.
Stochastic (14, 1, 3): The stochastic shows a level of 43.32 (blue) vs 56.91 (orange), indicating a slight bearish momentum, but it could reverse if price continues consolidating and breaks upwards.
HMA+ Histogram: The histogram appears to show bearish pressure with negative values such as -55.9, though it looks like it may start to shift upwards if there's enough buying momentum.
Volume:
The volume appears lower during consolidation, which is typical before a significant move. Watch for an increase in volume as the price approaches the end of the triangle.
Support and Resistance:
Support: Around 63,800 USDT (marked by the bottom of the triangle).
Resistance: Immediate resistance appears at around 64,200 USDT, the upper trendline of the descending triangle.
Trading Plan:
Breakout Strategy:
Bullish scenario: If BTC breaks the triangle to the upside, enter a long position after confirmation (e.g., after the price breaks above 64,200 USDT with volume). Place a stop-loss slightly below the triangle's bottom at around 63,500 USDT.
Target price: A potential upward target could be around 67,000 USDT (previous high) based on the size of the triangle.
Bearish scenario: If the price breaks below the triangle’s bottom (around 63,800 USDT) with volume, a short position can be considered. In this case, place a stop-loss just above the upper trendline of the triangle (around 64,500 USDT).
Target price: A downside target would be around 62,000 USDT, depending on how strong the downward momentum is.
Risk Management:
Set a risk/reward ratio of at least 1:2, considering the uncertainty of the consolidation period.
Adjust your position size to risk no more than 1-2% of your capital on the trade.
In summary, BTC is consolidating in a descending triangle within an uptrend, and a breakout in either direction is likely. Watch for volume and confirmation before taking a position, and stick to a disciplined risk management plan.
Market Reacts to FED Rate Cut: What’s Next for Bitcoin?We gave the market a few days to react, and last week turned out strong. The FED's rate cut sparked a solid response. Bitcoin has been moving sideways for the past few days, but it just got a boost, forming a double top. This might indicate a potential reversal. For confirmation, we need the current candle to close below the yellow line; if it closes above, we could see further upward momentum. At the moment, things are looking bearish, and the MACD is supporting that view. Let's see how it unfolds. Don’t forget to like, and feel free to leave any questions in the comments below!
Bitcoin - This Is The Bullish Breakout!Bitcoin ( BITSTAMP:BTCUSD ) still has a high chance of a breakout:
Click chart above to see the detailed analysis👆🏻
Bitcoin is clearly following the behaviour of the previous cycles and there is actually no reason to be bearish at the moment. The current consolidation is rather a sign of strength and a bullish breakout is definitely more likely than a bearish rejection. Just closely monitor price action.
Levels to watch: $65.000, $32.000
Keep your long term vision,
Philip (BasicTrading)
UsdJpy moving down on retracement.Looking for Impulse Down.
UsdJpy break out TL and will start to move down soon on retracement. Make sure you have your own rules on RR and follow them. This is just a trading idea to help you gain better knowledge. If you have any question ask me in comments.
Learn & Earn!
Wave Trader Pro
technical analysis and trading plan for Bitcoin (BTC/USDT)Technical analysis and trading plan for Bitcoin (BTC/USDT) by Blaž Fabjan
Bullish Pennant Formation:
The chart shows a bullish pennant pattern, which typically indicates a continuation of the prior upward trend. This suggests that once the consolidation within the pennant breaks to the upside, there could be a further rally.
Support and Resistance Levels:
Support Level: Around $61,758.48, which is holding the price within the consolidation.
Resistance Level: The next significant resistance is around $64,591.15.
If the price breaks the resistance of the pennant, it could target higher levels, potentially leading toward $68,556.87 as a bullish target.
Volume:
There’s a moderate amount of volume, but a volume breakout would be needed to confirm the movement in either direction.
Indicators:
VMC Cipher B Divergences is showing some green dots indicating bullish divergence, which further supports the potential for an upward breakout.
RSI (Relative Strength Index): The RSI value is around 53.94, suggesting that the market is in a neutral zone. It's neither overbought nor oversold, giving room for movement in either direction.
Stochastic Oscillator: Around 36.45, slightly on the lower end, signaling that Bitcoin might be in an oversold position on the short-term, indicating a potential upward reversal.
Trendline Projection:
The image also indicates an upward price projection beyond $67,000 if the pennant breaks to the upside, aligning with the bullish sentiment.
Trading Plan:
Buy Scenario (Bullish Breakout):
Entry Point: Consider entering a long position if Bitcoin breaks above the upper trendline of the pennant and surpasses the $64,000 resistance level with strong volume confirmation.
Take Profit Levels:
First target: $64,591.15 (immediate resistance).
Second target: $68,000.
Final target: $68,556.87 (upper resistance).
Stop Loss: Place a stop loss just below the $61,758.48 support level or just below the lower trendline of the pennant.
Sell Scenario (Bearish Breakdown):
Entry Point: If Bitcoin breaks below the lower trendline of the pennant and the $61,758.48 support level, it might indicate a bearish reversal. Consider entering a short position.
Take Profit Levels: Look for a price drop toward $60,301.68 or lower.
Stop Loss: Place a stop loss just above the pennant resistance level around $63,000 to limit risk.
Conservative Strategy:
Wait for a clear breakout from the pennant either way before entering any trade.
Watch for confirmation through volume increase, as this would validate the direction of the breakout.
Final Notes:
The chart leans toward a bullish continuation, but confirmation from volume and a breakout from the pennant are key before making any trades. Always manage risk carefully by setting stop losses and taking partial profits along the way.
I hope this information assists you in making more informed decisions during your trading activities. Enjoy! Blaž Fabjan
Bitcoin BTC price trading plan to the end of 2024Last week was full of macroeconomic events, we write about it at previous idea
The cryptocurrency market took them positively and grew on rumors.
There is a legendary quote: “Buy on rumors, sell on facts.”
Therefore, we do not rule out that this week OKX:BTCUSDT and the crypto market in general may plunge into correction.
Still, we need BTC.D - 57.7% and USDT.D - 5.50% to fall significantly lower for the market to really “come to life”
Fear and Greed Index (neutral) - 50
As long as CRYPTOCAP:BTC price is above $57,000 , it is globally in an upward trend and at the same time in a protracted consolidation since May 2024.
Perhaps a confident exit from this consolidation will take place in November, after the US elections on 05.11 and the next Fed rate cut on 07.11
_____________________
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BTC Let's wait for the breakout at 64-65k range. LOOKING GOOD !First of all, I want to be very clear that all the checkmarks are the predictions we have been making over these past few months. Each checkmark is a confirmation that the price moved on our side.
To verify this, you can visit my Trading View page and check my analysis history, which I’ve shared with you every weekend.
Now, let's get into the Bitcoin analysis:
If we look at the overall structure of BTC, it is simply a descending range, but if we zoom in, the inefficiency zone has always been an important trigger for Bitcoin's structure, even when bearish. What I mean is that every time it touches the inefficiency zone, Bitcoin surges upward strongly. If you look closely, the largest bullish candles appear in the inefficiency zone. It is also where a head-and-shoulders pattern was formed, but when it touched a demand zone, the price shot up like foam, just as we had predicted.
It’s simple... If we can see the overall structure, we have a very important 'KEY ENTRY POINT' (KEP) on the bottom left side to consider, and that same 'KEP' is the area Bitcoin has been respecting frequently.
So, we can conclude in this analysis that, as Bitcoin has respected the entire bearish sequence of our trend channel 1, 2, 3, and 4, point #5 was key for retesting our 'KEP' at position #6 and then surging strongly to the inefficiency zone, resulting in a small natural pullback to accelerate the price and almost hit our resistance point #7.
But what will happen now?
NOTE: If there’s no breakout, there’s no party!
I’ll present you with two scenarios (Bearish and Bullish) that Bitcoin may follow this week:
Bearish Scenario: If there is no breakout, there’s no party! The price will simply validate our point #7, reject it, and continue the bearish sequence of the channel. We can distinguish this based on the volume and the strength of the candle (keep a close eye on that).
Bullish Scenario: The price is about to validate point #7. If starting on Monday, we begin to see strong bullish volumes in Bitcoin, you can be certain that Bitcoin will break the channel. Consequently, we could see a new high after the breakout, followed by a pullback that returns to what was the channel's resistance (now support), and from there, a structural breakout or a new high.
I call this pattern N3.
The simple fact that the price breaks out and the full candle is outside of my channel, I consider it a genuine breakout.
So let’s hope it happens this week.
Regards, and thanks for supporting my analysis!"
THE $BTC CYCLE LOW MIGHT BE IN ACCORDING TO FIBONACCI!CRYPTOCAP:BTC successfully retested the Fib Golden Pocket on the monthly, which could signify the end of the retracement in Bitcoin's price before breaking the All-Time-Highs. What do you think? Do we make a new ATH from here or does BTC end up making a lower low? Everything is possible in Crypto..
Bitcoin's Roadmap to $100,000: Key Levels and TimelinesAlright folks, here's my outlook on Bitcoin's path to $100,000. Based on the current technical setup, if Bitcoin can stay within the Pitchfork green zone, we could see it hitting $100,000 as early as 2025. However, if it lingers in the Pitchfork red zone, we're more likely to see $100,000 by 2026.
Now, diving deeper into the analysis, my custom indicator has consistently tracked overbought conditions and crossovers. The last significant overbought cross occurred on March 25, 2024, and if history repeats itself, we can expect a similar pattern that took 840 days to unfold before the next major move. Following this timeline from the most recent cross, we’re looking at about August 2026 for Bitcoin to potentially reach $100,000.
For those expecting Bitcoin to hit $100,000 in 2025, it’s still possible but only if Bitcoin can maintain its position in the Pitchfork green zone. However, if it dips into the red zone, we’re more likely to see that milestone hit in 2026. This is not speculation this is what the chart and my indicator, which I’ve developed and relied on, are clearly showing.
This indicator hasn't let me down yet, and it's based on a solid pattern of how the market moves over time. This is a weekly chart, giving us a longer-term perspective on Bitcoin’s potential to reach $100,000.
So, stay informed and grounded in the data. Don’t be misled by others making claims without analysis to back it up this chart provides a clear roadmap to when we can realistically expect Bitcoin to reach $100,000.
Bitcoin (BTCUSD) LONG Trade Setup Targets + SL UPDATEDBitcoin (BTCUSD) LONG Trade Setup Targets
Got a clear LONG trade entry at $59,059
Stop Loss at: $58,250
Trailing Stop Loss at: $59,200
Total TP1, TP2, and TP3 done!
Almost touched the TP4 target.
Overall a good LONG trade on the 4h time frame.
I always trade crypto in the 4H time frame, it is my personal preference. Gives me more peace of mind.