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Bitcointrading

#Bitcoin has reached 46K and even 47K. What now? #BTC is now trying to close its first full candle above bull market support band, which is now at 44.7K and also matches the 200 day EMA and the 50% Fib. Retracement traced from July 2021. We're even close to the 200 day SMA at 48.2K, which is the last moving average to conquer and just 2 days away from our yellow box, where we pointed out now weeks ago those were the dates where we could see a potential trend reversal (March 30th - April 3rd). We have multiple levels to conquer to the upside, but 2 of the most important are 50% Fib. Retracement and 50% Fib. Extension. The first one would imply an upside continuation to the prices we know from last cycle. The second one, could imply a potential new all time high coming. Now, this won't happen without corrections or retracements and that's healthy for the market. So, what do we have to watch closely now? First of all, volume. Volume Oscillator shows volume going down in the last few days, while price is going up. And that's not good, because the volume should always rise in a rallying market. If it doesn't, the chances of a bull trap increases. MACD, Stochastic and RSI: an Stochastic and RSI rise is expected during a rally, but it's much healthier if the rally occurs with these indicators outside the overbought range. Stochastic is already overbought, RSI is almost there and MACD is climbing to a potential bearish cross. Short term price action (4H and 2H charts): if we take a look at both charts we can see volume is going down pretty fast, which is no good at all. Remember: volume is the blood of the market, without enough volume, no rally is sustainable. Also, Open Interest (Cryptoquant) is now at 14.5B with a huge spike in the last days. It's not something to be concerned yet because certain rise in OI is expected, but remember: last 3 bull cycles started with OI between 5-8B and last 3 big corrections (30/50% dips) started with OI between 14-16B. Nasdaq is also something to watch, because crypto markets and tech stocks have shown a really strong correlation during the years. The thing is Nasdaq is not yet above 20W SMA or 21W EMA (bull support), but is getting there. It has a strong resistance about 14871, and bull support band is around 15000. MACD, Stochastic and RSI on Nasdaq look much better than Bitcoin's, with the RSI even in normal levels. So, what all this could mean? 1 | Although bitcoin has surpassed 46K, it's still too early to say that the bull market is back. 2 | I think it's prudent to wait at least 2/3 days to see if #BTC continues to close candles above 46K. 3 | We will likely see a correction after this "rally" today, since the volume is not following and Nasdaq still has some barriers to overcome. LAST | I think the bull market is going to arrive and maybe even on the dates indicated (yellow box) but I would wait a few more days before diving into the market. If you enjoyed this, just show your appreciation following/retweeting on Twitter, here, leaving and comment or just a like. Have a nice week,
by BlackTieCrypto
4
BTC Bitcoin: Headed back downHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). BTC Price looks like it is headed back down based on the RSI. Focus on the Fibonacci Retracement levels. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
2
BTC Bitcoin: A Drop Is ComingHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). BTC Price looks like it is headed back down based on the RSI and MFI. Focus on the Fibonacci Retracement levels. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
2
BITCOIN TRADES TAKE PROFIT 📉📉📉📉 Hi there my friends, i was talking to you about BITCOIN bullishnes and various fundamental reasons why i expect it to rise to 45.000$ as a first target, well our target was hit. For now i am out of every trade on BTC, i am still bullish from a fundamental context but not from a tecnhical perspective. I will wait for the price to make a retracement back into H4 imbalance + bullish orderblock that is located around 43k price area. PLEASE REMEMBER that we are still bullish within a strong bullish market strucutre but for now its just not a DISCOUNT PRICE to LONG IT, wait / be patient and then execute. What do you think ? Do you agree with my analysis ?
BINANCE:BTCUSDLong
by AnonimFXRO
Patiently waiting for a drop on BTCAs said in our previous analysis, price is heading towards our SELL zone which you can clearly see in the video. We're expecting another reaction in that area which should push the market down to our target levels. If you guys are holding any long positions make sure to watch out for reversal signals and close them in profit, or if you don't currently have any trades on BTC but you're looking for an entry, then I would suggest waiting for the right moment. We're expecting a potential reversal around the 44K level which should provide us with some decent entries. Watch the video to find out where are the key levels on BTC. Don't forget to leave a comment!
COINBASE:BTCUSD
by ForexTrendline
18
BITCOIN LONGS ACTIVE 📉📉📉📉 Expecting bullish price action on BITCOIN as we are in a bullish market strucutre on a HTF (W1) and on the LTF (H4) the price is clearly making higher highs and higher lows with bullish BOS meaning we should go higher from there. I think we will hit 45.000 institutional figure where a lot of liquidity stays above 📉 From a fundamental perspective we are strongly bullish on this chart, market seasonality + fear/greed index + fed rate hikes and the correlation between US500 and BTC. 📉 I will attach a photo and a explanation of BITCOIN EXCHANGE RESERVE so you can understand why we are strongly bullish from a macro perspective. What do you think ? Comment below..
BINANCE:BTCUSDLong
by AnonimFXRO
3
BTC halving cycles, rhyming history & gauging bottomsIn the chart displayed I took the logarithmic growth of bitcoin and explored historic trends and figures that can *potentially* be used in predicting an unpredictable market. Note that there a multiple logarithmic growth curves for bitcoin online and my thesis is based on the curve seen in the chart provided by @quantadelic on TradingView so big thank you to them. This idea can be invalidated on other log curves hence the note. Other than that I sourced halving dates from: Deltec None of this is financial advice and I am only doing this for the sake of having fun charting and sharing an idea that might bring you some value As seen from the 2012, 2016 & 2020 halving $BTC always starts off with a huge expansion phase followed by a contraction phase after peaking and finally a smaller expansion/consolidation approaching the next halving cycle. Provided that we have only seen 2 cycles play out it is difficult to make estimated guesses due to the lack of data but nonetheless we utilise what we have. The 2012 expansion lasted for ±367 days while the 2016 expansion lasted for ±526 days. Provided that history repeats itself we can acknowledge that bitcoin has established its peak whether that be peak 1 (mid April ±336 days after halving) or peak 2 (early November ±546 days after halving) using previous cycle day counts and can now expect to find a trough. I believe these were both local tops this cycle and that we still see a global top this cycle explained later in this piece. Approximately a year after a cycle peak we see a mass capitulation event that marks the trough AKA the cycle bottom. We saw this play out in the 2012 cycle where bitcoin capitulated about 400 days after peaking & in the 2016 cycle where bitcoin capitulated almost exactly 1 year (364 days) after peaking marking the trough. If we apply history to the current 2020 cycle (and to its double top i.e to each peak) I expect BTC to find a bottom anywhere between April '22 (±1 year after 1st peak) or November '22 (±1 year after 2nd peak) anywhere along the logarithmic growth curve, as it has historically bottomed there. It is important to note that the curve does not define a bottom and we can still nuke further (see March of 2020 covid black swan outlier where bitcoin fell 50% below the curve). There are a lot of macro factors that can cause another nuke such as a nuclear war, no pun intended or a global recession. This should be considered before bidding and understanding risk accordingly, although I believe bitcoin will flourish in either of these scenarios as it is the hardest money out there. Finally back to the idea of a global cycle top, if history repeats then bitcoin should closely rest on the logarithmic growth curve meaning that towards the next cycle one bitcoin should be valued at over one hundred thousand united state dollars. Am I certain bitcoin will be valued at that? Not at all, I have no clue other than the logic I wrote here. It will take a massive amount of spot bids to get us over 100k and am only basing this off of historical price chilling at the bottom of the logarithmic growth curve. I will personally DCA and bid anywhere along the bottom of the curve, as always DYOR. You may have also noticed that I did not comment on bitcoin peaking at the upper band of the curve, this may or may not happen before the next halving and I prefer not to comment. This is my first time writing something like this. I hope you enjoyed reading and found value in my idea on how things will play out. Happy trading twitter: psycryptocat
BITSTAMP:BTCUSD
by psyfib
1
Bitcoin: Inside The TriangleHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). BTC Price looks like it is headed back down. The chart shows how many touches on the top and bottom of the triangle in both price and RSI. Keep an eye on the 0.382 Fibonacci Retracement level as well as the 0.618 level if price starts moving up. Also if price starts heading upwards, keep an eye on the Ichimoku Cloud resistance above. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
COINBASE:BTCUSD
by MillionaireEconomics
5