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Bitcointrading

Bullish Resurgence on the Horizon: Bitcoin's Symphony of SignalsTechnical Analysis for Bitcoin: Anticipating a Resurgence Amidst Market Flux Introduction: In the volatile landscape of Bitcoin, a recent significant pullback to the $42,000 lows has paved the way for a renewed bullish impulse targeting $52,000. Despite prevailing bearish sentiments, our technical analysis points to several indicators suggesting a potential reversal and bullish momentum. Technical Indicators: RSI Probability Indicator: The RSI (Relative Strength Index) probability indicator has demonstrated a bottoming pattern and is entering the bullish zone. This suggests a shift in momentum towards the bulls. Probability Bands Convergence: Probability bands are converging, indicating a potential alignment of market forces. This convergence is often a precursor to a significant market move, and in this case, it supports the anticipation of a bullish impulse. MACD Regular Divergence: In smaller timeframes, the MACD (Moving Average Convergence Divergence) is exhibiting a regular divergence, further signaling a potential shift in momentum towards the upside. Volume Analysis: Despite the current low volume, the observed bullish pattern is a positive indicator. The expectation is that as the bullish momentum gains strength, trading volume will likely follow suit, supporting the upward trajectory. Whale Transfers - Bullish Signals: Recent large Bitcoin transfers, including 3,110 BTC and 6,999 BTC to Coinbase wallets, signify a strategic move by major players. This suggests that bullish entities are selling their holdings, possibly in anticipation of a major dip, with plans to re-enter the market at lower price levels. Market Sentiment vs. Technical Analysis: While the majority of market sentiment has shifted bearish, our technical analysis supports the hypothesis that a solid bottom may have already been established. Confirmation around the $42,710 mark is crucial, as it aligns with our analysis and adds credibility to the anticipated bullish move. Negative News Impact: Negative news surrounding the BRC-20 Ordinals token potentially replacing Bitcoin has caused concern and contributed to the recent decline. However, the consensus is shifting towards optimism, especially with the looming prospect of an upcoming ETF, which could act as a significant catalyst for Bitcoin's resurgence. Conclusion: In conclusion, the technical analysis for Bitcoin presents a compelling case for an imminent bullish impulse. The convergence of multiple indicators, coupled with strategic whale transfers and shifting consensus towards an upcoming ETF, all contribute to a positive outlook. Traders are advised to remain vigilant for confirmation around the $42,710 mark, as it serves as a key validation point for the anticipated bullish momentum.
COINBASE:BTCUSDLong
by wikitrades
1
BTCUSD # BLACK LINE IS WEEKLY ZONES # RED LINE IS DAILY ZONES #GREEN LINE IS 4H ZONES 1- btc performer bos to the downside , if we change the character to the upside and that fvg waiting to be fill , this could be the potential set up for btc . 2 - terms of patter it def demonstrate a nice bullish flag patter , so I would be suprise is grab liquify on downside. 3- I trade zones to zones as far to explain why I place my sl and take profit on those location !. Merry christmas - will
COINBASE:BTCUSDLong
by stockmarket809
BTCUSD: Caution Despite Bullish TrendThe chart currently displays a rising wedge pattern on BITSTAMP:BTCUSD , a configuration often preceding a bearish reversal. Despite the recent price decline, the market trend is still upward, and prices are consolidating within the expected range. Currently, the price is positioned in the middle of the wedge's range, indicating a neutral stance. Traders should monitor the price movement closely in the coming days for signs of either continuation or reversal. After the high on November 9, the price action retraced to the 23.60% Fibonacci retracement level, a pattern that is seemingly repeating itself as we observe the current retracement. The RSI indicator suggests that the market is potentially overbought, indicating exhaustion, which could lead to bearish divergence. However, there is still a possibility for the price to push upwards, challenging the resistance zone between $46,000 to $48,000 before any reversal could be confirmed. From a trading perspective, the Bonsai indicator has not signaled a short position yet, hence our current long position. However, given the rising wedge formation, we are taking partial profits and closely monitoring for any indication of a trend reversal. In terms of recent fundamental news, Bitcoin has seen a mix of potential bullish drivers, such as increased adoption by mainstream finance platforms and positive developments in blockchain scalability solutions. Yet, these factors don't guarantee continued price increases; past market cycles have shown that Bitcoin can experience significant corrections despite positive news.
by bonsai_trade
BTCUSD: Amazing similarity with 2020. Will the 1D MA50 hold?Bitcoin has so far remarkably followed the fractal that followed the March 2020 COVID crash. Of course that was a pattern on the second phase of that Bull Cycle, whilst now (chart on the left) was the first rebound of the Bull Cycle. Nevertheless, the similarities are striking. Especially on the RSI's part. The 1D technical outlook is bullish (RSI = 60.001, MACD = 1547.200, ADX 26.937) and as long as the 1D MA50 holds, there is reason not to expect a bullish extension. Fractal-wise we are in a situation similar to the November 26th 2020 pullback, which gave way to a short term consolidation. Do you think the 1D MA50 and initiate a new bullish wave? ## 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
Can Bitcoin Hedge Against a Falling Dollar?Global inflation often signifies a weakening of global currencies. The question of whether Bitcoin can serve as a hedge against a depreciating dollar has gained significant interest among investors. Or should it still be the Gold? In this study, we will analyse the top 8 cryptocurrencies to determine which one is a more reliable currency hedge. Bitcoin & Its Minimum Fluctuation $5.00 per bitcoin = $25.00 BTIC: $1.00 per bitcoin = $5.00 Code: BTC Micro Bitcoin & Its Minimum Fluctuation $5.00 per bitcoin = $0.50 BTIC: $1.00 per bitcoin = $0.10 Code: MBT Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME:BTC1!Education
by konhow
1
Possible Bitcoin BTC price move for next 3 monthThere are two elements in the market : "retail money" and "big money". The former buys longs based on rumors and news around ETFs. The latter, based on the same news, receive increased trading volumes at the expense of retailers and dump their positions to them, rather unnoticed. For ourselves, we assume that in the next 3 months, the price of BTC may move in a similar "white fractal" pattern: - a sharp downward impulse and the overlap of the $34100-34400 GAP formed on CME BTC. - further prolonged sluggish growth, ultimately without updating the highs - "dead cat bounce" - January 2024 - the beginning of ETF decisions announcements - the beginning of a relatively deep correction in the crypto market. What do you think about this scenario? Write in the comments
by P_S_trade
6
BTCUSD: Right where it's supposed to be.Bitcoin is on the very healthy bullish technicals on the 1D timeframe (RSI = 60.823, MACD = 1089.300, ADX = 23.103) extending a controlled uptrend. The 1W timeframe remains overbought though (RSI = 74.426) as there has been no hard correction since mid August. Perhaps the relief in late weeks is an attempt of 1D to neutralize the overbought state on 1W without a strong correction. Regardless of this, Bitcoin is right where it's supposed to be when compared to the previous Cycles. On this chart you see the harmonic structure of every bottom that leads to cyclinder pattern that ultimate paves the wave for the end of Cycle rally. There has always been one extreme event' crash on every Cycle, after which the market bottomed and never looked back. It was COVID and Bitfinex before, this time we had FTX and now the market shouldn't break the 1W MA50 again before the next Bear Cycle starts. All that's left now to do is see how close the price will be to the 1W MA50 in the next Halving (April 2024) as from that point onwards the parabolic rally can start any moment. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSD
by InvestingScope
Exciting News: BTC Soars Around $36,000! SMA 50 > SMA 100 200The latest news is that BTC is currently hovering around an impressive $36,000 mark! This is a momentous milestone that demands our attention and calls for action. Why am I so thrilled about this? Well, let me break it down for you. As seasoned traders, we understand the importance of technical indicators and trends. And right now, BTC is showing us some auspicious signs. The Simple Moving Average (SMA) 50 has surged higher than the SMA 100 and 200. This is a clear indication of a bullish trend, suggesting that BTC has the potential to continue its upward trajectory. Now, I don't know about you, but this information has got my adrenaline pumping! It's the perfect opportunity to capitalize on the market movement and maximize our profits. So, without further ado, I urge you to consider joining the long BTC movement today! By going long on BTC, we position ourselves to benefit from the potential price appreciation and take advantage of this bullish trend. As we've seen in the past, BTC has a history of remarkable surges, and this could be just the beginning of another significant upward movement. So, here's the call to action: Take action now and seize this golden opportunity! Open your positions and go long on BTC. Don't let this thrilling moment pass you by. As traders, we live for these exhilarating market conditions; this is our chance to ride the wave of success. Remember, trading always involves risks, and it's essential to conduct your own analysis and make informed decisions. However, with the current market indicators favoring a bullish trend, going long on BTC seems like a promising strategy. As always, stay updated with the latest market news, monitor your positions closely, and adapt your trading strategies accordingly. The crypto market is dynamic and ever-changing, but we can navigate it successfully with a calculated approach and a touch of excitement.
BITSTAMP:BTCUSDLong
by bryandowningqln