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BTC/USD Weekly Overview + Price TargetHello Traders, Investors, And TradingView Community, In this weekly BTC/USD analysis, we will be taking a brief look at the most recent events, the current chart technical formations, as well as the possible BTC price outcomes. Overview Bitcoin has spent the week building an ascending channel that took its price from the $14,640 level all the way to $16,500. However, the new levels are mostly unexplored (apart from the late 2017 mini-bubble), and people that already invested in Bitcoin are either holding or taking profits, while new investors are wary of entering due to the price reaching this high. This left Bitcoin with a lot of people holding, a minority taking profit, and even a smaller minority wanting to buy it at $16,500 at the moment, which triggered a pullback. This doesn’t mean that $16,500 is an overestimate of Bitcoin’s worth, but rather that the economic uncertainty around the new US presidency, an unstable stock market as well as regulatory bodies honing in on crypto are all factors in the current minor pullback. Our previous weekly analysis has predicted the price increase to $16,500 as well as the pullback. This doesn’t mean that the bull season has ended or that bears have taken over for good, but rather that BTC entered a healthy correction phase before establishing a new price target. Technical factors Bitcoin has continued moving along the ascending channel started on Nov 7 and gaining in value up until the $16,500 resistance level that we called out. This level has triggered a pullback as BTC could not pass the zone of resistance. While the pullback was mostly sideways and slow, a confirmation of a real pullback happening occurred on Nov 14, when Bitcoin dropped out of the ascending channel as well as below the $16,000 psychological level. While Bitcoin’s sentiment is extremely bullish overall, its short-term overview points to a pullback that will most likely end at the zone of support near the $15,480 level. The hash ribbons indicator is still showing miner capitulation (ever since Oct 29), sending out a major buy signal. Likely Outcomes Bitcoin has one main scenario that is most likely to play out, which is its price continuing down towards the $15,480 area where it will encounter strong support, which will most likely stop it from going further down. If this happens and Bitcoin does bounce off of the $15,480 area, we may expect another push towards the recently-made highs. In this case, traders should have a clear path towards $16,500 again, and they should pay attention to BTC, possibly making a double top at its most recent high rather than surpassing the level. A move that will end up below $15,480 is highly unlikely, simply due to the overall sentiment currently surrounding Bitcoin. However, as unlikely as it is, anything is possible, and Bitcoin might fall below the support level. In that case, traders can expect a sharp price decrease and a possible push towards the $14,640. Join us at our Forex Academy website and Facebook group for more Forex and Crypto news and education , as well as our FREE signal section where you can trade alongside us! Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by forex-academy
BTC/USD Overview + Possible OutcomesHello Traders, Investors, And TradingView Community, In this weekly BTC /USD analysis, we will be taking a look at the most recent events, the current technical formations, as well as discussing possible outcomes. Overview Bitcoin has spent the week vigorously pushing towards the upside. The move went parabolic as soon as BTC crossed the $13,900 mark and entered the $14,000 zone. While the surge got stopped just before it hit $16,000, there is a lot of potential upside as there is practically no resistance holding Bitcoin from reaching its all-time high. However, many traders are taking profits and playing it safe out of fear of ending up the same way they did in 2017/2018. This has caused BTC to lose momentum and, most likely, look for a pullback soon. Technical factors Bitcoin has conquered the ~15,000 level after a week of constant pressure to the upside. The largest cryptocurrency by market cap is currently consolidating right above the $15,480 support level, which will act as a pivot point and a trading direction decider. The next day or two will be crucial for Bitcoin's price movement in the short future. While Bitcoin's sentiment is extremely bullish at the moment, there is no denying that a pullback is quite possible (and maybe even optimal). As there are no set resistance levels to the upside (because Bitcoin only visited these price levels during the bull run of 2017), we are using Fib retracements as well as small consolidation points from that time to determine possible consolidation/direction change spots. Another thing to note is that, as of Oct 29, the hash ribbons indicator is showing miner capitulation, sending out a major buy signal. Likely Outcomes Bitcoin has two main scenarios it can play out, and both end up with the price pulling back to stabilize and consolidate a bit. The possibility of these plays happening is slightly in favor of the second scenario, but it mainly depends only on where Bitcoin ends up (above or below its pivot point). If Bitcoin remains above $15,480, we may expect further attempts of conquering the upside. The next target to the upside are the $16,000 psychological resistance, 23.6% Fib retracement level (sitting at $16,570) and $16,665. If Bitcoin pushes towards the upside, we are almost certainly expecting strong resistance at these levels and an almost certain pullback in the short-term. The other scenario may be slightly more likely, and involves Bitcoin rejecting the current level and falling below its pivot point. In this case, the largest cryptocurrency by market cap will look for a support level, and will most likely find it at the $14,640 level or the 38.2% Fib retracement level (sitting at $14,380). While moves which include Bitcoin moving straight up or down and ignoring these support/resistance levels are possible, they are far less likely and would have to be caused by some fundamental even rather than just price action and technicals. Join us at our Forex Academy website and Facebook group for more Forex and Crypto news and education , as well as our FREE signal section where you can trade alongside us! Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by forex-academy
HIGHLY (UN)LIKELY? BUT I HAVE TO SHARE IT!I honestly think the "TOP" is in, and I'm sad to say that XMAS will bring us its RED color and not gift us another "ATH", or at least that's what I think... This scenario is unfavorable for almost all crypto traders, but, how about a flush of the over-leveraged traders in the middle of economic hardships? How much can they bear to suffer before saying: "FK IT, This is it, I'm selling all of this bull*hit" ? Only to be bought by long-term hodlers, who can survive until $100K+! The upcoming times will be "unfavorable" for many. Whatever you saw so far is just the appetizer before the main dish, and I hope all of us (hodlers) can be strong and make it to the dessert time (I believe it will be being around Q3 2022). Good luck everyone, I will be checking-in again in 2021 or if BTC goes lower than $2500. Whichever comes first... Until next time, good luck!
Short
by YouTrader
4
BTC/USD Weekly Overview + Possible OutcomesHello Traders, Investors, And TradingView Community, This is our weekly BTC/USD 1-day timeframe analysis, where we are looking at the most recent events, the current technical formations, as well as discussing possible outcomes. Overview Bitcoin has shown some volatility in recent days after bouncing off of the 100-period moving average (black line). The largest cryptocurrency by market cap bounce off of this line as well as the $10,500 level brought a lot of bulls back to the market, causing another price swing upwards. While it was more likely that Bitcoin would push down towards $10,360, the news surrounding it (many accredited and institutional investors putting their funds in the market at this particular moment) outweighed the bearishness caused by the macro events. Technical factors Bitcoin has been building a triangle formation for over a month now, and it was a consensus among analysts and traders that the triangle will most likely break towards the downside. However, the most recent push off of the 100-period MA (mostly due to fundamentals rather than technical factors) has proven traders wrong and decided Bitcoin’s short-term future. The push towards the upside briefly stopped after breaking the area of uncertainty, only to consolidate there and create enough pressure for the next move. After this happened, Bitcoin was free to move towards the $11,000 resistance level. At the moment, the pressure created by the bulls is fading, and we may expect a pullback. Likely Outcomes Bitcoin has encountered strong resistance at the $11,000 level, which will most likely cause it to back down towards $10,850. With (as we spoke in our numerous analyses) $10,850 level being the pivot point, Bitcoin will choose to either back down towards $10,500 or $10,360 before (most likely) rising again, or to bounce from the $10,850 area and push towards $11,000-$11,300. At this moment, the most likely scenario is that Bitcoin will stay above $10,850 for the time being, and that its next push will possibly move its price above $11,000, but almost certainly not above $11,300. If we are talking about straightforwards pushes towards the upside or downside, it would take a great deal of pressure to either side to break its support or resistance levels, sitting at $10,850 and $11,300. Join us at out Forex Academy website and Facebook group for more Forex and Crypto news and education, as well as our FREE signal section where you can trade alongside us! Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSDLong
by forex-academy
BTC1! FUTUROS DE BITCOIN CME - GAPBuenos días! *Esta idea a través de Tradingview no es sinónimo para entrar posiciones en corto* primero debemos hacerle un seguimiento a la debilidad en la tendencia actual.... para un retroceso fuerte como lo vemos en el patrón de barras proyectado. no debería superar el máximo anterior $12.635. Para empezar a caer con fuerza en primera instancia, rellenar GAP, ubicado entre los ($9.665 - $9.925). una vez alli un rebote de gato muerto y seguir la tendencia bajista. finales 2020 e inicios 2021
CME:BTC1!Short
by CryptosBlockchain
Bitcoin to go down, then upCOINBASE:BTCUSD The 1M chart is ugly and I think we will see a major flush prior to any sort of aggressive upside move. Bitcoin has been far to Bull friendly recently and if I had to bet, I think we see downward move to $7100 to reset the bear divergence that has printed over time. This should cause enough panic to shake out whatever weak hands may be left. From there, we see then promise land of Satoshi. Every bounce they tell you to buy before $7100 is programmed to create liquidity in the market. Don't be fooled. - PennyBags
COINBASE:BTCUSDShort
by PennyBagsCapital
1
12 hour 4 correction incoming on bitcoin, the swing failure !AS predicted, the swing failure pattern has came, we are on a corrective 4 of sequential and just got a beautiful sell off after the high was taken, the exact spot we spoke of yesterday on chat, 10850! whootwhoot! Target still 10460 boys! perfection at its best. look at the last few 4 corrective bounce/drops on sequential 12 hour, along with the volume/market profile pic being around that 10460= great scalp long high leverage, but I will hold short I have from 10730 all the way to 10300
BYBIT:BTCUSD.PShort
by THECHARTMAFIA
18
BITCOIN UPDATESI Don't Want To Give You Panic. But You Should Watch The 20 Ma. In Different Time Frame Different Moving Avarage Works. But You Need To Understand The Topic. If Price Agin Rejected From 20Ma Then Price Could Be Possible To Hit Our Lower Fibonechhi Retracement Support Zone. I'm Watching At This Moment. Price Maybe Reject 20Ma , Maybe Or Not ? I'm Not Your Financial Advisor, Every Time You Should Follow Your Own Thoughts. Don't Chase The Market. Let The Markets Come To Your Favour. Buy & Selling Isn't All Of Trading , Patience Is The Main Key Of Trading Best Of Luck.
by CryptoLearnersBd