btc near major resistance zoonHello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
Now major supports are:
A. 26000$ daily support
B. 23500$ major Fibonacci support levels
major Resistances are:
A. 30000$ Channel retest of breakout
B. 32000$ major Daily resistance
Bitcoinpricetrendanalysis
BTC - Are we in a Bull Market?Hi guys. Welcome to my Macro TA analysis on Bitcoin and the bull case. I like to use different tools to see if i can find patterns that things clear, especially for long term/ macro trends. Since it is becoming more likely that we are in the beginning stages of a bull market atleast for bitcoin. Its now necessary to keep an eye and find confluences.
What i have on my charts today are:
2 moving averages
Blue line = 50 month moving average
Yellow line = 21 month moving average
2 indicators
1. Wave trend oscillator
2. ADX and DI
These 2 indicators i like because they help establish direction of trend by marking overbought or oversold areas. Gives somewhat of a picture on momentum as well
NOw lets first look at our moving averages the Blue and Yellow lines.
Just looking at the placement of the candles in relation to the lines.
Anytime we are above the yellow, we are in a bull market
Anytime we interact with the blue, its marked a solid BUY opportunity.
But taking a focus on the yellow line, as to stay on topic with our title. The green circles highlight everytime we've interacted with the yellow line coming from the blue line. Very important to highlight this, as we are CURRENTLY in the process of interacting with yellow line.
We are also going to close APrils monthly candle, so how we react to the yellow line is key to knowing if we are indeed in a bull market. OUr previous data points (2 in #), which is not many. Indicates that it takes 1 candle to hover right below yellow line, BUT the next monthly candle breaks through the yellow line. So perhaps MAY we do get above yellow line. Remember, however that this does not mean its definite. It is not a definite or sure thing we repeat history. Its more about probabilities. But one way to use this in trading, would be to see what we do in May and June, and if their is a confirmation candle during Junes close. That can be an opportunity to get in for the entire duration of bull market.
Now lets look at the 2 indicators.
1. Wave Oscillator -> Normally i use this in a way to determine buys and sells. And i would buy if the green line goes to the lower horizontal dotted green/ lined green combo at the bottom. And sell when the green line gets over the red horizontal line.
But what im using this now for is how it moves or reacts when we get to yellow line. What i came up with is, mainly looking for curvatures and placement of green line with red dots. From previous 2 green circles, green line has to be on top of the red dots and the green line should be curved upwards. Currently we have both of those happening and we are at a lower low compared to previous times we repeated this.
This is a great thing but there is a slight danger. Since this indicator is creating a lower low and price action is creating higher low as indicated by the white trend lines. This is a bearish divergence. We need to be watchful of this. If this plays out, we can see drop in price. Probability of this playing out for now is low as well.
2. ADX & DI - For this we have to note the white boxes drawn. These atleast the previous one, indicates a bear market. Ive highlighted the 2015 area because it is similar to how we are acting on ADX DI currently. One thing to note and in this chart goes against the bull case or has not yet confirmed yet. Is that the white line or moving average, needs to be curved/ pointed UPWARDS to indicate a bull case. And we must keep an eye on this as well.
Currently we are showing a bull cross of green line being over the red line which is a good sign so far. If in the next couple months, the white line does curve UPWARDS. That would make this inddicator supportive of the bull case, in my opinion.
CONCLUSION: AS per this analysis on the MOnthly time frame. We are still not yet in a CONFIRMED bull market. However, the current interactions with the yellow moving average, the upward curve of the Wave Trend Oscillator and its green line being on top of red dots indicate we are perhas 1 to 2 months away frm confirming. We have to keep observing the ADX and its white line particularly. If it curves up, this will support the bull case. One danger is the bearish divergence on wave oscillator. But remember confluence is more support of divergences, meaning if multiple indicators 3+ are showing it, it may be MORE likely. So it is something to search for. (be on the look out for an analysis lo0king for divergence). All in all, we could be in the beginning stage of a BULL MARKET, and next 2 or so months will be crucial for BITCOIN, how it interacts with yellow line if above or if pushed lower, if ADX white line curves up and if wave trend oscillator cointunues its upward trajectory towards red zone.
Hope this sheds some light on Bitcoin. If you enjoyed this, please boost, follow and if you have any thoughts of your own COMMENT. I'd like to know what you think. Also ill be posting updates not only for crypto but other markets as well.
DISCLAIMER: This is not financial advise, i am not a financial advisor. The conent expressed here are my opinion only and for educational purpose. Always remember to focus on risk management when trading and to protect yourself with stop losses.
bitcoin bull cycle repeating let seeeeBelow this idea This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
As per my Elliott Wave analysis, we are in the final C impulse wave (ZigZag 5-3-5). ZigZags are often very impulsive, which is true in this case.
Also, do not forget that we have an unfilled GAP on CME futures at 20k. Statistically,
Bitcoin Bearish Signs are starting to play out!Bitcoin in a BIG rising broadening wedge which the starting point of the pattern is 15K
We havent seen a new low over a month,the more it holds the more violent the downside will be
with the dump that happend yesterday we retraced it back but could not regain the bullish structure thus more RED to come today
Please Consider Supporting Me by Boost,Share,Follow-Means a lot
Thanks for watching
#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
BTCUSDT - Working review and fix position!From my basic overview of BTCUSDT, each price level is worked out.
As you know friends that my long position was fully closed at the price of 30800 My main selling volume worked. Everything else is shown on the trading chart. I decide to partially close the position (namely, 40% of the position volume at this level), I moved the stop loss to the entry and expect a further fall in the range of 27000-26000) as this will be an optimal correction of 10-15%.
I described everything else in my trading reviews below, and accompanied this position from beginning to end.
To learn more about my actions, read the description of my account
BTCUSDT - Long, considered only after breaking on LFT
BTCUSDT - Important level
BTCUSDT - will there be a breakdown of the 30000 level?
BTCUSDT - The long position scenario is completed 30000$ DONE
BITCOIN Massive Move!BYBIT:BTCUSDT.P
BTC has been consolidating for almost 3 weeks in a possible ascending triangle.
On the breakdown of the ascending triangle look for Long entries at the 25200 zone as a textbook pullback.
Many buyers will be lurking here, but wait for the confirmation of buyers stepping in via a bullish trigger - hammer candlestick or engulfing or combination.
On breakout of ascending triangle one could possibly look to go long with upside targets marked to $38k zone.
Set your alerts and don't predict but be prepared for the move once Bitcoin shows it's hand.
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.
Bitcoin next huge volatility is comingBYBIT:BTCUSDT.P
4hr time frame
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Bitcoin is consolidating as a symmetrical triangle and approaching to the end.
It will make continuation no matter break upside or downside.
I personally tend to see it break below this triangle, and do not miss the good opportunity.
BTC Pattern Continues To Playout! Strong Bearish Signs Are There*Disclaimer - Not Financial Advice*
Bitcoin Has been consolidating below a huge HORIZONTAL resistant for a while now And The pattern that we have been talking for the past 3 videos playing out
On top of that there are Quadruple Bearish Divergence on RSI and Bear Flag and couple of more SELL signals that I mentioned in the video
Lots of STRONG Sell Signals so I would say 25K first before 30K(if it wants to happen)
I strongly recommend to watch this untill the end
Please Consider supporting the channel by boosting , sharing , Commentng - warms my heart-
Support and Resistance Markup Here is how I markup my 4 hour chart for Bitcoin. The candlestick chart isn't used very much for marking up as it doesn't provide the same amount of data as the line chart. I also toggle between the bar chart to provide more data when it comes to seeking a specific wick.
Bitcoin: Analysis and Predictions for Potential Corrections and Bitcoin, the largest cryptocurrency by market value, has once again surged past the $28,000 level amid collective gains in the wider cryptocurrency market, which has approached the $1.2 trillion mark in terms of market capitalization. Over the last 24 hours, Bitcoin has risen by about 5.6% to nearly $28,350.
The current market sentiment is neutral to bearish, with the BTC price currently trading within a narrow range, with support around $27,000 and resistance around $28,600. Relative strength indicator (RSI) levels also show a bearish divergence, indicating weak buying pressure.
The simple moving averages of 200 days and 200 weeks act as strong support levels for BTC. The monthly RSI is trending upwards, indicating a potential long-term rise. However, current market conditions suggest that Bitcoin may experience a bearish correction before any major rise.
Regarding future scenarios, if BTC manages to break through the resistance level of $28,600, it is likely to move towards the range of $29,000 to $32,000. On the other hand, if BTC breaks below the support level of $27,000, it is likely to drop towards $26,000 or even lower.
Bitcoin, rallies into major resistance! Continuation or..?Bitcoin is pricing in a premium array and it's trending into major resistance, and I would like to see the price be valued down to 25.5k and take some strong bids before it's gonna continue and value at its higher prices.
I am a short seller because the price which is going to this resistance is really ineffective and very weak. Confirmation with weekly PoC and with U.S. Dollar on major support.
We'll see how it's gonna uphold, but for me, it gives me a nice risk-reward on higher time frame.
#Bitcoin - thoughts out loud #06Good evening, we are from Ukraine!
Extension of the agreement. The action plan remains unchanged. A mistake made by UT without confirmation.
Restart. The targets are unchanged.
Thank you all for your attention, I wish you success.
Sometimes you win/sometimes you learn.
#Bitcoin
BTC short term (1h candle)We recently broke down from our small ascending triangle (blue lines) and hit the target shortoy after perfectly! (White dotted lines and yellow horizontal)
We then quickly bounced upward to retest the bottom of the triangle, which looked like rejection!
Currently looking at other possible plays. Mainly a upward parallel channel (green lines). As you can see we are reacting nicely to the centre line nicely using it as both support and resistance.
Will keep you updated
#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 - thoughts out loud #04Good evening , we are from Ukraine!
I'm finishing the previous idea and continuing the new one.
Action plan for this trade:
I'm waiting for UT/UTAD because there is liquidity there, then confirmation. I'm targeting the price of 25652.
Good luck to everyone!
Thank you all for your attention, I wish you success.
Sometimes you win /sometimes you learn .
#Bitcoin
BTC/USD - Analysis of recent events and a Double TopQuick BTC/USD analysis of the last few Months:
Looking at the Price and the Relative Strength Index (RSI) Convergence/Divergence:
From Tuesday 13th Sept 22 until Saturday 5th Nov 2022 we had Convergence with the Price and RSI which indicated a reversal was most likely on its way.
Price = HH - LH (Higher High - Lower High)
RSI = HH - HH (Higher High - Higher High)
Next from Wednesday 9th Nov 2022 to Monday 21st Nov 2022 we had Convergence with the Price and the RSI which then lead to a reversal breakout.
Price = LL - LL (Lower Low - Lower Low)
RSI = LL - HL (Lower Low - Higher Low)
Next from Sunday 29th Jan until Tuesday 21st Feb 2023 we had Divergence with the Price and the RSI leading to the bearish reversal drop that we are still in today. I suppose you could start this Divergence sooner if you wanted, but i have started it on the 21st Feb 2023.
Price = HH - HH (Higher High - Higher High)
RSI = HH - LH (Higher High - Lower High)
Here is a closer look at the 1 day chart.
Here is a closer look at the RSI Indicator.
For those who are new and do not know, please note that Divergence/Convergence with the Price and RSI is indicted by the Straight Yellow Lines on the Chart and RSI Indicator.
A few other bits.
BTC has also created a Double Top Pattern as indicated by the 2 circles on the chart with arrows. The 1st Top was at Monday 15th Aug 2022 and 2nd Top was at Tuesday 16th Feb 2023. Note that BTC tried to get above this support level 3x and failed all attempts at closing above this resistance line.
BTC is still in an Ascending Channel Pattern, while it did break out of its Upper Resistance Trend-line, it did not CLOSE ABOVE it, so this Upper Resistance Trend-line is still valid.
Using the Lower Trend-line of the Ascending Channel and the Double Top Resistance line, we can also say that BTC may also be in an Ascending Triangle Pattern.
At the moment of typing this, BTC is still below its 50MA (Yellow Line) and has found some support from its 200MA (Red Line).
Looking at just the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) of the Ichimoku Cloud, we can see that BTC is in the Equilibrium Zone Inside the Cloud. Note that a successful daily candle CLOSE BELOW the 200MA will also bring BTC under its Leading Span B (Senkou Span B) support level into the Bearish Zone of the Ichimoku Cloud. Please note that i am not using the traditional 9,26,52,26 settings for this cloud.
Looking at the Bollinger Bands, we can see that we have had massive expansion of the Upper and Lower Bands for the negative side, BTC is still way below its Middle Band Basis 20 Period SMA and note that the Middle Band is still Pointing Downwards. Note that BTC is still walking on the underside of its Lower Band.
My thoughts:
While Silvergate Bank’s liquidation may have contributed to the drop we are still in, looking at this chart, we can clearly see that the Price and the RSI were already giving the warning signs back in February especially with the Double Top and Price/RSI Divergence. We will now have to see if the 200MA holds as Support, if it doesn’t then next is the Lower Trend-line of the Ascending Channel Pattern.
During these recession, it is iInteresting times ahead for BTC and the whole Crypto market. In any case, i hope this post has been informative and has helped those who are new to charting and using Price/Oscillator Convergence & Divergence to help predict possible price movement.