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Bitcointrading

BTCUSD MID-WEEK ANALYSIS UPDATE 08/10/2023📈 BTC/USD: Short-term Drop with Upside Potential 📉 Recent USD weakness fueled a rise in BTC 🚀. Now, with the Dollar initiating a pullback, I anticipate a short-term drop in BTC/USD. After that, I'm looking for a continuation to target the $31,500 level. Here's what to keep in mind: - USD Influence: Recent Dollar weakness played a role in BTC's ascent 📉. - Short-term Drop: Expect a temporary pullback in BTC as the Dollar regains strength 📉. - Upside Target: The goal is to target $31,500 as the next potential move upward 🚀. - Risk Management: Set clear stop-loss and take-profit levels to protect your capital ⚖️. - Technical Analysis: Use technical indicators, like moving averages or RSI, to time your entry and confirm trends 📊. - Stay Informed: Keep an eye on news and events that could impact both BTC and the USD 🌐. Remember, this analysis is not financial advice, and all trading carries risks 🚨. Make sure to do your own research and tailor your strategy to your risk tolerance. Good luck with your trading journey! 🍀📈💹
COINBASE:BTCUSDShort
by Dion-FX
Are Bears in Control of BTC's Price Movements?As we all know, Bitcoin has experienced an unprecedented rally over the past year, reaching new all-time highs and capturing the attention of both institutional and retail investors. However, recent market movements have raised concerns about the presence of bearish forces attempting to control the price and limit its upward momentum. The idea of bears influencing BTC's price movements below the $28,000 threshold is not to be taken lightly. It is important to remember that the cryptocurrency market is highly volatile and subject to various external factors. Hence, it is prudent to pause and reflect on the current situation before making any hasty decisions. In light of this observation, I encourage you to consider the following: 1. Analyze the Market: Take a step back and conduct a comprehensive analysis of the market trends, including technical indicators, historical price patterns, and emerging news. This will provide you with a clearer understanding of the broader market sentiment and potential bearish influences. 2. Diversify Your Portfolio: While Bitcoin remains a significant player in the cryptocurrency space, it is essential to diversify your holdings. Consider exploring other digital assets that may offer different risk-reward profiles, thereby mitigating potential losses associated with any prolonged bearish pressure on BTC. 3. Stay Informed: Continuously monitor market developments, industry news, and expert opinions. This will enable you to make informed decisions based on a holistic understanding of the cryptocurrency landscape, rather than relying solely on short-term price movements. 4. Exercise Caution: Be mindful of the risks associated with trading in a volatile market. Set clear risk management strategies, establish stop-loss orders, and maintain a disciplined approach to your trading activities. Remember, patience and prudence are key virtues in times of uncertainty. While the notion of bears exerting control over Bitcoin's price movements may raise concerns, it is vital to approach it with a rational mindset. By carefully evaluating the available information and adopting a cautious trading approach, you can navigate these uncertain times with confidence and resilience. I invite you to share your thoughts, insights, and perspectives on this matter. Together, we can foster a community that thrives on knowledge, collaboration, and informed decision-making.
BITSTAMP:BTCUSD
by bryandowningqln
BTCUSD: The key to aggressive expansion.BTCUSD is neutral both on the 1W (RSI = 53.284, MACD = 507.200, ADX = 28.424)) and 1M (RSI = 49.845, MACD = 467.000, ADX = 18.857) timeframes, an encouraging outlook as it is recovering ground from the 2022 Bear Cycle. This is a chart illustrates quite accurately the Cycles of Bitcoin, transitioning from Bear to Bull and vice versa. Right now we are in the retest phase of the Bear Cycle's Support that broke in order to create the bottom. Every Cycle did that retest and in all cases it was performed on the green part (buy level) of the accumulation that preceded the Aggressive Expansion phase. If the top dashed line breaks, the Aggressive Expansion starts. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSD
by InvestingScope
6
BTCUSD: The Huge Pivot Zone will decide its fate.Bitcoin has completed seven weeks of trading inside the 1W MA200 - 1W MA50 range. It is no surprise that the 1W technical outlook is neutral (RSI = 50.743, MACD = 460.600, ADX = 25.554) as while the 1W MA50 has been supporting, the 1W MA100 has been resisting. The latter hasn't closed a 1W candle over it since April 25th and is at the moment the top priority to break for Bitcoin. On a greater scale though, the true Resistance to cross is 31,800 which is the top of what we call the "Huge Pivot Zone" (25,400 is the Support). The price hasn't closed any 1W candle outside of this Zone since it entered it on the week of March 13th 2023. In fact we can go as back as January 2021 and see the importance of this Pivot Zone. In 2022 there hasn't been any 1W candle closing under the top (31,800) of the Pivot Zone. Then in 2022 up until March 2023 this became a rejection level, closing all candles under it, while the Cycle bottom was being formed. With the Bull Cycle HL trendline still supporting (along with the 1W MA50) and the price approaching the 1W MA100, we will soon have a strong breakout signal at hand. But if this is accompanied by a break over 31,800 then we have great chances of going into the April 2024 Halving with prices above $40,000. Likewise a crossing under the HL and the 25,400 Support can break the Bull Cycle blueprint and take us into uncharted (bearish) territory. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSD
by InvestingScope
3
4-Hour Bitcoin Trading: Fibonacci Moving Average (FMA) Strategy Hey there, Bitcoin enthusiasts! Today, I want to share with you about a popular trading strategy that I use everyday, with Fibonacci Moving Average (FMA) numbers. I'll zoom in on the 4-hour chart to get a closer look at how it works. This strategy can provide some valuable insights into what's happening in the market, and I'll break it down step by step. EMA 144 Crossing EMA 233 After a Bearish Engulfing Candle: So, first things first, when we see the EMA 144 crossing below the EMA 233 right after a bearish engulfing candle, it's like a red flag waving at us. This suggests that the selling pressure is building up, and it might be a sign that prices are about to drop. Breaking the EMA 610 Support (Since Jan 2023): Next, we've got the EMA 610. This line has been a strong support level since January 2023. When the price breaks below it, it's like breaking through a safety net. It tells us that market sentiment is changing, and we might be entering a bearish trend. Retests and Rejections: After that, we see a series of retests of different EMAs – the EMA 610, EMA 233, and EMA 144. And guess what? Each time, there's a big rejection. These rejections are pretty significant: EMA 610 Rejection: The first time we try to get back above the EMA 610, it says, "Nope!" This reinforces the idea that this line is now acting as resistance, not support. Second EMA 610 Rejection: We give it another shot, but no luck. The EMA 610 is still saying, "I'm not letting you through." It's like a stubborn gatekeeper. Sideways Movement: Then, we see some sideways action. Prices are stuck between the EMA 144 and EMA 233. It's like a tug-of-war between buyers and sellers. Nobody's sure where things are headed. Drop to Test Support: Eventually, we take a plunge to test lower support levels. This is in line with the bearish outlook, indicating that we're exploring lower price ranges. Pullback and EMA 233 Retest with Huge Rejection: Finally, there's a pullback, and we give the EMA 233 a shot. But it slams the door in our face with a big rejection. This tells us that the bears are still firmly in control. Now, why do we see these rejections? Well, it's partly because of human psychology. Traders who missed the initial breakdown of these EMAs see these retests as a second chance to sell. Plus, big players like institutions and algorithmic traders often pay close attention to these levels, making them even more important. It's like a self-fulfilling prophecy – everyone expects a rejection, so it happens. In a nutshell, the Bitcoin Fibonacci Moving Average (FMA) strategy on the 4-hour chart is a valuable tool for navigating the crypto market. By analyzing things like EMA crossovers, support breaks, retests, and rejections, you can get a solid grasp of what's going on and make smarter trading decisions. Those rejections at key EMAs remind us that technical analysis and human behavior play a big role in crypto trading – it's not just about numbers and charts!
INDEX:BTCUSDShort
by sailortrades
BTCUSD: Is the new rally to +30k about to start?Bitcoin is on the second green 1D candle in a row trading on neutral 1D technicals (RSI = 46.543, MACD = -510.500, ADX = 23.740) despite being at the bottom of the 2 month downtrend, almost on S1 (24,800), which was the June 15th low. There is a significant bullish divergence on the 1D RSI being on HL as opposed to the candles being on an LL trendline. This is an early buy opportunity that will be confirmed when the price closes the first 1D candle over the 1D MA50 (hasn't done so since August 1st). As you can see, this structure is very symmetrical to May-June. We will buy the breakout and target the HH trendline (TP = 32,500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
8
Bitcoin: Thoughts and AnalysisToday's focus: Bitcoin Pattern – Range test Support – 25,600 – 25,280 Resistance – 26,080 – 27,630 Today, we have run over Bitcoin. We have broken down current price action with our thoughts on what we see over the longer-term and short-term price structure. Sellers continue to push at buyers in the short term after buyers made a quick push higher last week, and industry news continues to dominate momentum, with the USD not having such a big impact at present. Will we see buyers continue to hold consolidation and support, or could we see a new move by sellers making a new test lower? Have a great day and good trading.
EIGHTCAP:BTCUSD
by Eightcap
Bitcoin ; Solid support zone.1-Volume Matters One of the key indicators we always keep an eye on as traders is trading volume. It's no secret that strong buying volume often precedes significant price increases. In the context of Bitcoin, a surge in buyer interest can fuel a bullish rally. Currently, Bitcoin is experiencing a period of consolidation, and trading volume has been relatively moderate. As traders, we should remain vigilant and monitor trading volume closely. A sudden spike in volume, especially on the buying side, could indicate a shift in market sentiment, potentially signaling a bullish trend reversal. 2-Solid Support Zones Another crucial aspect to consider when assessing Bitcoin's potential for a bullish move is the existence of solid support zones. In the price range between $24,000 and $26,000, Bitcoin has historically found strong support. This level has acted as a reliable base during previous market cycles. As traders, it's essential to acknowledge the significance of historical price levels. The $24,000 to $26,000 range has consistently demonstrated its ability to attract buyers and provide a cushion against downward pressure. However, it's important to remember that past performance is not indicative of future results, so caution is warranted.
COINBASE:BTCUSDLong
by Gassem_futures
Bitcoin: Timing the Bull Market with EMA120Simplicity makes the perfect. The Exponential Moving Average (EMA) is a key technical indicator used by investors and traders to identify market trends over a specific period. When it comes to Bitcoin, the EMA120 level has proven to be a significant indicator of long-term trends. A breakout above this level could signal a strong upward trend, making it an ideal time for investors to consider entering the market. For conservative investors, buying Bitcoin above the EMA120 level can be a safer strategy. However, for those willing to embrace more risk, longing Bitcoin at this point could potentially yield higher returns. Despite the current low price of Bitcoin in the overall cycle, it's important to remember that we may not see a return to prices around $16,000 unless there are unforeseen 'black swan' events. These unpredictable occurrences can significantly impact the market and cause drastic price fluctuations. Earlier this year, Bitcoin has attempted to break out above the EMA120 level but failed, returning to the level of the previous neckline. However, this doesn't mean that the opportunity has passed. On the contrary, when Bitcoin's price returns to the EMA120 and successfully breaks out again, it could be the ideal time to invest for the long term. Patience is key in this scenario. Waiting for the right moment to come! *One strategy: Buy now, long at EMA 120
BITSTAMP:BTCUSDLong
by jenniferguo7867
Will BITCOIN continue its correction? Short trade #1Hello colleagues! We decided to present our thoughts on the cryptocurrency market in the form of trades! We will number all trades and after some time we will analyze all our trades and determine their effectiveness. How do you like this format? Write in the comments! Today, the price of BTC updated the local lows of August 1st. This happened at low trading volumes and without an aggressive reaction from buyers. In our previous idea , we indicated the critical point for the medium-term growth wave - this is 28710. This critical point was broken by the sellers, so it's time to see where to open a short position in BTC. A second. But we recently published a long trade on Bitcoin. How to combine it? Everything is very simple. Approximately in the range where we opened a long position, we plan to open a BTC short . If the stop order on the long position is triggered, we will receive a profit on the short position, which will pay off the loss of the long position and the profit will still remain. An identical situation will occur if a stop order on a short position is triggered. The logic of opening a short position: 1. Buyers did not hold the price in the range of $28900-29100 2. After the update of local minimums, buyers did not show their aggression. 3. BTC price growth during August 1-8 looked more like a correction after a falling wave. Entering a short position in BTC - Range 28900-29400. A retest of this range will confirm the weakness of buyers. The width of this range is due to increased volatility in the Bitcoin market. Stop loss is 29782. In our opinion, if the price of BTC reaches our stop order, then nothing will prevent buyers from continuing to grow and disrupt liquidity above 30500-31000 in the form of seller stop orders. The target is 26500-27200. Consolidation took place in this range during May - June, where the positions of buyers accumulated, which they will defend. So there is a chance of a bounce up. We allocate $5000 for this trade. In case of error, we lose $100. If the trade works out, we will receive $344. What do you think about this trade? We are waiting for you in the comments!
Short
by P_S_trade
42