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Bitcoinpricetrendanalysis

Bitcoins newer all time highOn the 4-hour timeframe, Bitcoin appears to be within a distinct channel. This week, it experienced a decline, reaching the 65654 support level at the channel's bottom before rebounding. Currently, it has bounced off the 67562 support and is heading upwards. If it breaks above 69005, it could revisit all-time highs. Back on March 3rd, Bitcoin formed a flag pattern before reaching its previous all-time highs. Considering the length of the candlestick pole to the flag pattern, I anticipate Bitcoin may reach 75000 before a downturn, potentially returning to the support trend line around 54670.
BITSTAMP:BTCUSDLong
by samstoobad
Bitcoin Price ResistanceBitcoin is currently re-testing the significant supply region from December 2021, where price spent almost a month failing to move higher after the initial move down from ATH. Since putting in a final bottom in late 2022, Bitcoin has rebounded strongly along with other risk assets. However, if this trend has been a corrective ABC move, the pattern looks near enough to complete to start looking for a strong reversal from this region for confirmation. The c wave price has reached the typical corrective fibonacci extension resistance range from the a wave, and at a low timeframe has reached a 3.0 extension of the wave 1 of c. If the current trend is part of a new leg higher, price should easily reach 76k which would be the 1.618 extension from the initial sequence off the low. The conservative trading approach would be to take partial or full profits on longs at these levels, respecting the important price resistance and risk of a double top, and wait for price to confirm a breakout over prior ATH to re-enter a long position. The downside risk, if price is currently filling out a corrective ABC retrace, would be a > 80% loss to re-visit 10.2k or lower before price would ultimately find a durable bottom.
BITSTAMP:BTCUSD
by CycleTargets
Anticipation Builds for Bitcoin Halving Event Anticipation Builds for Bitcoin Halving Event Bitcoin is currently holding strong above the $50,000 mark in anticipation for the event known as "the halving." The Bitcoin halving is a regularly scheduled event that occurs approximately every four years, where the reward for miners is halved. Historical data indicates that after each halving event, Bitcoin’s value surges. The last halving event in 2020 propelled Bitcoin to an all-time high of $69,000. With the next halving event two months away, Bitcoin might be looking bullish, with higher highs recorded within an ascending parallel channel. Although, the Relative Strength Index (RSI) is in overbought territory at 80, and Wednesday saw the first down day after 7 days of gains. Even so, previous overbought conditions in the RSI didn’t cause the expected pullback though. Buying pressure could lead Bitcoin to target 5% and 15% gains, with the first being the $55,000 level, and the second being the $60,000 psychological level.
BLACKBULL:BTCUSD
by BlackBull_Markets
Bitcoin Analysis for 2024!Bitcoin Analysis for 2024! We have been witnessing upward movements in Bitcoin for a while now. As 2024 approaches, we want to share with you the potential price movements Bitcoin might make. Bitcoin's price is hovering around the resistance range of $44,372 - $45,821 . We believe that unless Bitcoin achieves weekly voluminous candle closures above the $45,821 level, it may initiate a downward movement. If BTC manages to close candles above the $45,821 level for two consecutive weeks, the next upward target would be $53,256. However, if Bitcoin fails to secure weekly candle closures above $45,821, we anticipate its descent to the initial support range of $38,150 - $36,163. If BTC finds strong buyers in the $38,150 - $36,163 support range, it could bounce back and ascend to the $44,000 - $45,000 range. Nevertheless, it is crucial to note that for the upward trend to continue, a weekly candle closure above $45,821 is essential. In the event that Bitcoin's ascent from the $38,150 - $36,163 support range cannot surpass $45,821, a renewed descent may commence, leading to a range between $32,380 - $30,420. We believe that the actual upward trend for BTC will originate from the support range of $32,380 - $30,420, as indicated by the purple lines in our analysis. If Bitcoin initiates an ascent from the $32,380 - $30,420 support range, we anticipate it reaching $53,256 . In our 2024 Bitcoin Analysis, we focus on weekly timeframe movements rather than those on lower timeframes. Not Investment Advice. WAGMI.
by wagmitraders
4
BTCUSD: Weekly continuation?Today's focus: BTCUSD Pattern – Continuation (Bullish) Support – 41,450, 38,514 Resistance – 44,713, 47,540 Hi, traders; thanks for tuning in for today's update. Today, we are looking at Bitcoin on the weekly chart. So far, so good, as buyers continue to push at resistance and push forward with a bullish continuation idea. After rejecting the last low and forming a doji candle pattern, buyers continue to do the right things for a potential continuation pattern. Will we see price contnue to push higher and test 47,540 resistance? We have also reviewed a few aspects of what to look for when scouting for a continuation pattern set-up. Good trading.
EIGHTCAP:BTCUSDLong
by Eightcap
BTC pivot point @ 48k, breaking trend lines to under 30kVertical price push is due for a pull back. Depth of pull back can develop into a few possible scenarios: Bearish: pull back leg of the longer term consolidation in the 15k-69k range. Bouncing off the 20k will be neutral vs. under 20k will be bearish, looking to test and break 15k. Bullish: Bounce off the 48k and dip to ~28k to form an ascending triangle or cup handle before breaking to ~150k If we push past 48k, next resistance is 55k. I am skeptical about any pre halving push without some kind of easy credit like low interest rates or cash injections. Lets see how deep this pull back goes.
Short
by pokp
BITCOIN Breakdown of Whats Going On - 06/02/2024Hello everyone, I have to update on update of previous post, to break it down little clearer for some of you, to explain why RIGHT NOW Im very causious... For that purpose Im going from Highier to Lower timeframes, to get clearer picture of what is the MOST possible at this moment.. So, If we go from 5Day to 4h timeframe, its clearly to see that we are "stucked" in consolidation of last 5D candle, which was our "top" of 2023 and we are in process of "accumulation/distribution" either shorts/longs before moving further (as stated yesterday, longer we stay highier, chance of continuation of going highier increasing)... So as you know, I WAS of opinion, that we should go lower to swept Sellside liquidity, before moving further... but since FED meeting changed nothing, I HAVE TO stick with my Highier TimeFrame perspective... And thats it, as presented in Q1 update - Due to previous experience in similar market conditions I should suggest that until nothing change & FED start cutting rates, market will move Highier with Time until this change come! Breakdown : 5 DAY - to 1 Day - On 1Day, we can see much better, that we first swept Buyside liquidity of that 1st Rectangle consolidation, before we processed to swept Sellside liquidity... BUT NOW, we came EXACTLY BACK where we WAS, which SHOULDNT be CASE if we continuing LOWER with confidence... So, we HAVE TO go to 4hr, to make "better and clearer" guess of whats happening... 4h - So , I added 1 more layer of rectange... which is LAST WEEK RANGE... You can see, its relatively tight with its own "consolidation" (i put green cut line between for better visibility)... and YESTERDAY, we firstly swept highs, then lows and now we proceeding to going back up.. in this case, IF WE ARE ABLE to MOVE ABOVE that FED HIGH I would expect with high probability of moving further up, ONCE WE GET ABOVE OUR CONSOLIDATION BOX, both of them! -- One more 4hr chart with SMA , which I do not use as "trading tool", but in my obsertvation-> When they are stacked like now and we moving in tight range in same time.. WHEN Price BREAK above/under them with "test" - in most cases it continuos in that direction for pro-longed period of time. Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
UNDERSTAND THE BITCOIN ETF - PRICE ACTIONHello Family! 10th January of 2023. We are hours away from the Approval, delay or Rejection of the Bitcoin ETF. We need to be careful since the Bitcoin price still needs to confirm the 30-32k area as a SUPPORT. WE've done this in every Bitcoin cycle after we created a BOTTOM structure and going into a RETRACEMENT. We are in the biggest RETRACEMENT levels. This is a critical zone where the price could get rejected and where many expert traders are taking profit from the ACCUMULATION zone (15-25k) So, right now Bitcoin has huge risk of ROI vs potential downside. If you are waiting on a sideline, It would be better to wait for the MACRO correction, or wait if the Bitcoin Dominance starts to fall and liquidy goes into Altcoins. Legendary day. The force be with you.
BITSTAMP:BTCUSD
by xReve
BTC Bullish Pattern on Oct 1st, 2023We can see a falling wedge pattern in daily chart. This is a bullish pattern for few days. Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
INDEX:BTCUSDLong
by rukshan2102
1
The Bitcoin Triangle: In the Midst of a Fundamental TsunamiHard to not draw when its already outlined for you. Market manipulation is probably most prominent in the crypto sphere and notably with Bitcoin. It is the breakout trader, the technical analysis pioneer, that is the target. Give them an image, that creates a bias, a bias strong enough for them to enter the market with conviction (in the form of leveraged positions) and the self fulfilling prophecy will occur. Breakout or fake-out, stop losses will be taken out, by the crypto whale like plankton in the gambling ocean of retail traders in motion. Regardless looks bullish. Doesn't it?
by Fondera-Trading