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Bitcointrading

BTC is challenging its trendline resistance. What is next? BTC is challenging its trendline resistance. Last Saturday, BTC dropped hard during the forex market holiday. But it has almost recovered. Last Saturday, BTC dropped from the $56000 price zone to the $42000 price zone. $52000/53000 was strong support before it dropped. Now BTC is challenging its trendline resistance $52000/53000 price zone. So, breaking above $53000 may invalidate its downtrend. But as long as below the Descending trendline, which started from 9th November, BTC won't change its downward bias. Though it is too early to say that ahead of Christmas and the new year, it is expected that there will be profit-taking. If so, we may see another knee-jerk downside slide on the BTC. As long below $53000, our first sell target is $47500, the next target is $40764, and the final target to the downside is $30500. Our sell target will be invalid if BTC rice is close above the $60000 price zone. If you see in the weekly chart, RSI dropped below the divergence. That also indicates the more downside pressure coming soon. Let's see what happens. Just follow money management and enjoy trading. This is not a trading signal, and it is just a personal opinion only.
Short
by Gold_Trading_Expert
9
BTC Bitcoin: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTCUSD). The chart is self-explanatory. Since RSI is close to the oversold region, there may be a chance that the BTC price goes upwards with a possible re-test of the multi-month S/R line. If price continues to fall, please keep a close eye on the Support Zone noted in the chart. Included in the chart: Trend line, Support and Resistance Lines, RSI, MFI, Support Zone, Ichimoku Cloud, Volume, Exponential Moving Average Ribbons, Simple Moving Average, Double Top Pattern, Ascending Wedge Pattern, Volume Profile Volume Range (VPVR). I have additional charts below on cryptocurrencies, stocks and more to review. Check them out! If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
BITSTAMP:BTCUSD
by MillionaireEconomics
8
Bitcoin - BTC possibility of fake run up! Be carefull! Bitcoin has a doubble bottom which lead it up to a new attempt on breaking the falling wedge resistance and also the Asceding triangle which broke below it yesterday! But don't rush to buy or long it because we have to face HUGE RESISTANCE of the Falling Wedge and the ascending triangle and if it doesn't break above 39,3k$ we will have a HEAD AND SHOULDERS in the 4-8hour time frame! So please be carefull and wait for the proper break to the upside with the retest on the support! Now is a very tricky and dangerous time to trade without confirmations! @CryptoDrou Patience is also TRADING!!!!
INDEX:BTCUSDShort
by CryptoDrou
Bitcoin: What The Weekly Chart ShowsHello friends, today you can review the technical analysis on a 1W linear scale chart for Bitcoin ( BTCUSD ), a cryptocurrency. 1) This is a macro chart showing the multiple years of price action through weekly candlesticks. 2) The chart shows Bitcoin on Coinbase exchange where there is generally the highest volume and most price activity. 3) There is Bearish Divergence on the weekly with the RSI (relative strength index) comparison. 4) The MA 20, 50, 100 and 200 are shown in the charts. Price is currently below the MA 20. 5) The RSI at 41-43 is an important area, which BTC may need to hold if price wants to move higher. 6) Though Volume is consistent, there is no major inflow of volume. This could be due to the limited number of Bitcoins traded versus held in outside storage. 7) Many influencers look at 1H, 4H or 1D charts and indicators, but looking at the macro charts - 1W or 1M is very important. If you are trading, you can't depending on other people's opinions of price action. You need to do your own research. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year? 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
2
BTC Elliott Wave count flatHello Everyone. Many of you are aware that I am a fan of Elliott Wave Theory. Although I use various conventional tools, I always incorporate EW to point me in the right direction. I have highlighted my belief that BTC is in a regular flat correction in past posts. This simple correction can be found either at Wave two or wave 4. Considering that wave 2 of this cycle was a Zig-Zag for the rule of alternation, it is plausible that Wave four will be a flat formation or a triangle. Unfortunately, I excluded the triangle formation when BTC broke the 46k, and I am now firmly convinced that it is a flat correction. To sustain this Hypothesis, I have subdivided the various rallies and dips into subwaves. The flat correction subdivides in 3-3-5 waves (Wave A= 3 waves, Wave B = 3 waves, Wave C = 5 waves). I have labelled on the chart the various waves (ABC) and the subdivision of Wave C for your understanding. Furtherly we can see that the current wave C can be subdivided into 2 and 1/2 waves. Therefore we are missing the end of Wave three, the corrective wave 4, and the last leg down, wave 5, which would complete Wave C. How is the personality of wave C? Wave C is a steep painful correction, increasing in volume and very bearish sentiment. So far, the description checks all the boxes. What do we also know? That Wave three usually retrace to wave 4 of minor degree or often 0.382 of its length. The current 0.382 of wave 3 of primary degree (2020 rally) sit at $22123. Even more interesting is that regular flat EW explains they retrace 120-130% of the length of Wave A starting from the end of wave B to a maximum of 160%. The targets considering the above would then be between 24k and 26k. However, considering the projection of the completed wave C following the EW proportion, the target would be $21099. I have also drawn the EW channel connecting the peak of wave 1 and wave 3 and drawn the parallel line starting from the bottom of wave 2, confirming a possible target of $22500. Lastly, to conclude my Hypothesis, the 200W MA projection will be sitting at around 21k. The 200 MA have played as a support in the last correction and bear market of 2018. Hence my prediction is that the bottom will settle between 21k -24k. That will be a magnificent opportunity. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDShort
by CFcryptoTA
2
URGENT-Does Wkyoff history repeat itself? Big Shot & Big PictureHello Guys, Yesterday night and today, we saw a lil pump on BTC pair.Short team looks like nice , everything settling down. I saw already comments that says BTC new Ath is on the way and etc. But let's take a look in another point of view. I been noticing this chart since last high and huge drop. I pointed last spring season fall and how Wkyoff played in chart. We all know that exact analysis worked well. But we can clearly say , we are experiencing little Wkyoff season right now. Don't you think this purple and blue seasons look like mom and daughter? Even tho short term looks promising , there are lots of suspicious act on BTC. First , We clearly can see there is another Wkyoff distribution playing on. Second , there is negative divergence and low volume every highs( exactly like last huge drop blue circle) Third , As We all know September month is called bloody BTC month. Since years , there is no any big positive movements in BTC in September specifically. In my opinion , We will experience another Wkyoff formation. And unfortunately , it will lead another big drop to 37-38k range just exactly like how we saw in last spring. Price moving exactly same. Of course we can witness another scenario at the moment. But I will be on my side believing there will be big drop to 38k until end of September before we see big Rally. There are so many similarity , so volume in BTC for every high , negative divergence and more on is supporting this idea. I don't think BTC will make another high. We will see big drop. Tell me What you think in the comments. Like and comment your ideas with me. Would love to hear! Don't hate me because I am showing you another point of view :) Share this with your crypto friends to be careful. If we dont see another high from BTC , It will be blood lake all over here.
Short
by BeastofWallStreet
17
BTC preparing for next leg downHello everyone, There is not much to say here. In my previous idea, I highlighted how BTC has started a clear intermediate beartrend and I was expecting a break of 42k to reach 35-36k. That's happened. Now what I am eyeing although we saw an increase in volume at this level with a spring at 33k it looks like bulls are not following through and bears are clearly in control. This was more profit-taking and break-even point for some (in my opinion) rather then a buying zone. Although we have the recurring buy the dip narrative, this is mainly driven by retail investors who do not understand markets dynamics and macroeconomy. With the current FOMC meeting, high inflation, end of tapering in March and rates hikes BTC like other risks on assets are suffering a bear trend. Who had to de-risk has likely already done so and we have now retail money and Long-term investor in the markets. Rule number one of trading, NEVER TRADE COUNTER TREND. Although there are people that are able to make money counter-trend, I would like to ask you something: Are you able to row counter stream? Maybe... a lot of energy and likely to fail. Then my suggestion is to try to long in a bear trend and wait for a clear reversal before entering the market. Nevertheless, BTC is creating a clear pattern in which the 20MA and 50 MA are currently dynamic resistances and is trading in a channel. BTC is now approaching for the 4th time the 20 MA and I do not have reason to believe BTC will have a reversal her. Although many will argue that RSI and other indicators are oversold. Well, I suggest you stop using them or learn to use them because in a bear trend the RSI and Stoch RSI migrate to the south portion of the scale and trade there for an extensive period of time, which indicates that bears are in control and there is low momentum for bulls. Nevertheless, I believe BTC after this leg down to 29k will enjoy a small relief rally back to 34-35 before continuing down to set the bottom at 22k. If BTC manages to break the resistance at 41k then I will change my mind and start to possibly look for longs. However, now the picture is clear and anything below 41k is a short opportunity. FOLLOW ME, SHARE, LIKE AND COMMENT
Short
by CFcryptoTA
9
BTC Bitcoin: 1W Chart DiscussionHello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Bitcoin (BTCUSD). The chart is self-explanatory. The price recently formed a bear flag and now it has been breaking down. Also, the price broke below the Support and Resistance Line with an attempt to go back above it however it failed. Since that point, the price has been falling on the weekly scale. The bear flag target is around $22K, however the price may get supported around the $30K region as there is significant support. RSI is headed down and MFI (Money Flow Index) is also falling. Volume has been consistent. The VPVR (Volume Profile Visible Range) shows areas of heavy trading. This analysis is only showing a downside case. If price moves back above the S/R line, the analysis may be invalidated. 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
Bitcoin can rise to 40k zone, but don't get too excitedAs I said yesterday, after finding strong bids under 34k, Bitcoin has started to rebound and now we are in a correction is underway. At the time of writing, the price is 37400, just under a short-term resistance. A break up to this resistance looks very likely and this can lead to further gains to the important 40k resistance. Although I'm bullish on crypto and BTC in short term, I expect more losses after this correction.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
19
Bitcoin(BTC) LONG TO $40KBTC going on an A-B-C correction which is very common after a good 5 wave impulse Blue 5 wave Elliot wave from 2017 to 2021 ABC corrective wave in RED Wave C is an irregular correction(Wave B ended above start of wave A) and is of 5 wave series in PURPLE Wave C has two more waves to go sub wave (4) and sub wave (5) I believe there will be a more complex sub wave 4 in bigger Wave(C) which might go up temporarily to 40K before the final sub wave 5 ends around 26K The retracement of the subwave 3 of Wave (C) and the fib extension of subwave 2 have a great resistance 40K, so I believe in short term BTC might go to 40K with wave 5 before it goes on final subwave 5 and then reverses Happy trading and please leave feedback
BITFINEX:BTCUSDLong
by JAN360
Bitcoin retrace to $35k then $15k once Apex of Triangle breaks Based on 2 series of elliott waves I've calculated. I have listed the Daily and the Weekly. We are currently selling down on the C wave of the Daily Elliott Wave. There is a hidden Bearish cypher pattern, that initially bounced off of B leg, but we are showing a Triangle and its holding. The failed breakout will result in a retrace back below B leg and break $50, which leads us to my 1st target of $35k,,, More updates will follow once we retrace to the $35k level
COINBASE:BTCUSDShort
by moneyflow_trader
6
Bitcoin has reversed strongly, how bullish is this?Yesterday we had another strong sell-off for Bitcoin in the first part of the day and the cryptocurrency dropped under 34k floor. However, after reaching 33k, bulls totally took control and Bitcoin has finished the day into the green. Considering the almost straight line fall from 43k a deeper correction is not only normal but also healthy. From a technical point of view, 34-34.500 zone should act as strong support and the first clear resistance is slightly above 38k Speculators can look to buy dips under 35k with the mentioned target A new low under 33k would negate this scenario. Best regards Mihai Iacob
BITSTAMP:BTCUSDLong
by Mihai_Iacob
10