Will overbought Bitcoin breakdown?Bitcoin - 24h expiry - We look to Sell a break of 27098 (stop at 27981)
We are trading at overbought extremes.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Trading within a Bullish Channel formation.
A break of the recent low at 27206 should result in a further move lower.
A higher correction is expected.
Our profit targets will be 24925 and 24525
Resistance: 28200 / 28500 / 28900
Support: 27600 / 27200 / 26800
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Bitcoinshort
BTCUSD BULLISH OR BEARISH??FxShzd team is here with another trade idea for the Bitcoin market. Our analysis suggests that there are currently two scenarios that traders should be watching.
In the bullish scenario, we have observed a bullish market structure (BMS) forming just above a higher high on the chart. Therefore, we recommend waiting for the price to reach a demand zone on the 1-hour timeframe, while keeping a close eye on the 5-minute chart. Once the price reaches the demand zone, we recommend waiting for either the QM pattern or CHoCH (Chaos Cloud) to form before entering the trade. A good entry point with a favorable risk-to-reward (R:R) ratio would be ideal, with the first target profit (TP) set at a higher high level.
In the bearish scenario, we suggest waiting for the price to break through the lower low level. Once the lower low is confirmed, wait for the price to reach a higher supply zone and find a good confirmational entry to sell, remember this move belongs to 15M therefore check it with the corresponding TF.
It is important to remember to always respect risk management when entering trades. We are happy to answer any questions in the comments section. Happy trading
Long Bitcoin for the cultureLong BTC here, pretty tight stop. Bearish patterns may start playing again and if so will calibrate, but for now looking for short squeeze here, under 200MA, deviation out of fallng wedge, falling out of larger diagonal trend line, head and shoulders pattern overshot target a little. Not advise, stops incase of flush.
Be careful if you are in Long in BTCHello All,
BTC has filled the CME gap of 28k. There is a big CME gap at around 21000. See the Chart below.
1h, 1d and 1 week are all in the overbought zone as per the RSI indicator.
so be careful if you are in long with high Lev.
The above 1-hour chart. See the green circle
The above 1-day chart. See the green circle
The above 1-week chart. See the green circle
Patterns, CME Gaps & Golden Pocket RocketCheck notes on the chart.
1) Bearish Rising Wedge
2) Descending Triangle
3) Ascending Triangle
Expansion Creating CME Gap, aka Futures Liquidity Gap. (These almost always get backfilled.)
4) Current Pattern, Bullish Ascending Channel.
We had a fake out to flush the longs, and create liquidity, and to backfill the CME Gap.
All other narratives are fun stories.
We have since course corrected violently, failing to break out of the previous range, creating a Swing-Failure , which is locally bearish. This likely retraces to 23k, before a continuation higher to fill the next CME gap around $27,355 and $28,740 .. of course some profit taking, or other exogenous events such as the indexes falling could correlate with some pull backs, but ultimately I'm expecting 35k to fill this year.
Strong resistance there, likely to struggle to get above.
If it does, the next gaps that could be liquidity grabs are
$45,000-$46,500
$52,500-$53,500
I don't believe we see a new ATH this year or next. 2025 is my target for ATH, which I believe we be a minimum of 130k and a max of 180k. I will scale out of positions between those two prices.
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 Price Prediction and Updates1. Here is my view on the bitcoin chart if bitcoin getting weaker and breaking the trendline with bearish divergence in "RIS" Then I will be looking for short and my first target will be golden zone in Feb Retracement tool.
2. For long I will be looking the golden zone in Feb Retracement Tool and wait for the Reaction in lower time frame 5/15 mints.
I do analyze the cart on my view but nothing is financial advise.
BITCOIN (BTC) IS ON A DOWNWARD RIDE Hey there, crypto enthusiasts! I have got some juicy updates on this particular asset that you might want to sink your teeth into.
Unfortunately, things aren't looking so hot right now. This poor asset (BTC) has lost over $1,700 after the neckline of the double-top (M) pattern broke. Ouch!
But don't lose hope just yet. The last candle was a BULLISH PINBAR, which could indicate a possible bullish pullback to the neckline. If the current daily candle closes above the pinbar, we might see the asset make a comeback. And if it does, my target will be the $21,000 - $21,300 zone as TP.
However, if the asset eventually pullback to the neckline, I'll be playing it safe and shorting BTC from the neckline of the M-pattern. My TP1 is set at $19,600, and TP2 will be the SUPPORT TRENDLINE
But let's not forget to keep an eye on the $18,400 zone, as it could provide some strong support.
So, what do you think of BTC's current situation? Let's start a conversation in the comments section! And while you're at it, be sure to follow me and share your thoughts.
Let's ride this crypto rollercoaster together!
will Bitcoin crash continues on WeekendBitcoin\4H Trying to retrace backup but sell pressure is too high EVEN on weekends with traditional markets crashing down
20800 was touched as predicted now we are looking for a possible ~21200 or ~21564 which is the origin of the dump.
The Crash started but the flood hasnt happend yet.
BTCUSDT (BITCOIN) Daily: 04/03/2023: 🔴Short opportunity?!
Well, as you can see the bitcoin price fell more than 6% on Friday, and it created a liquidity void below the supply zone, so it's an interesting area for the price to back there and fall again, at least till the demand zone.
In addition, we can see a liquidity pool below 21350 that can define as our first target.
💡Wait for the update!
🗓️04/03/2023
🔎 DYOR
💌It is my honor to share your comments with me💌
BTCUSD - BITCOIN - ShortFollowing bitcoin support and resistance lines.
Entry:
$20,150 - $20,000
Take Profit 1:
$18,000
Take Profit 2:
$17,500
Stop Loss:
$21,000
Enjoy my free analysis.
Please give me a boost (rocket!) and a comment.
I like to hear your feedback.
For more analysis, follow me.
Success trading!
Cheers uNickTrading
BTC 1D CALLED 18KBEWEARE! Closing 1D if price bellow 21k
next target is 18k
-
Daily Supply -Demand area 18k
SELL BTC Entry: 24380 - 25620
Target 1: 23180 (done)
Target 2: 21960 (done)
Target 3: 20740 (done)
Target 4: 19520
Stoploss: 26060
Remember when we went through the big pump at the beginning of the month?
it crossed the daily supply without any reasonable reaction in the 18k area. believe it or not this area must be "paid off" first!
Note : at the beginning of the year 2023, we had a bear flag which was "invalid" too.
Retracing A Month UpSide Rally In 2 Days ! Top Longers in shamblUnfortunately Today I couldnt upload a video , it kept failing ONLY on this platform!
Bitcoin\4H Had A Capitulation Candle Down (-10%) and will continue to go down after a consolidation
After slow bleeding for 2 days BTC finally did what it suppose to do and legged down 10% and caught every hasbullah off guard resulting in Hasbullas getting liquidated left n right
We Also filled the gap (20500 to 20k) AS PREDICTED ,Now this dump is just the begining of a bigger dump thats comin maybe with todays news (18.4) then consolidates there or pushes backup to 19.5 and hold there.
If you look at 4H candles u see they are getting smaller in size and volume is dropping showing Bears are taking the thumb off the sell button and giving some room for retracement following in another fake bull move maybe ~20800 which eventually end in more sell.
On 15Min chart we are doing another Parallel channel but it could change as its low time frame pattern
Liquidity to upside around 22.8 is 4M around 23.7 is 11M
BTCUSD Feeling Heavy and Poised to Attack SellsideBackground: Bitcoin is looking on the heavy side after running up from Jan 2023 lows only to have topped at 25200 in middle of February.
Thesis: I am anticipating an overall move lower attacking the nearest daily sellside liquidity.
Bias: Bearish
Reasoning: 25200 buyside liquidity was ran in middle of Feb enticing retail longs and breakout traders. The initial move lower between Feb 21 and Feb 24 broke market structure (MSS) on the daily which has resulted in a move toward 22190 price level.
Targets: 21366 and 20380.
Timeframe: Over the course of the Month.