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Bitcointrading

LAST CHANCE FOR BITCOIN!Bitcoin is at a large level of support. Price is having a short term recovery with poor volume which indicates that this support level is weak. If this support was valid BTC would have bounced to 45k. The MFI on the 2h chart is looking strong but could turn bearish very quickly. BTC is trading below the 200SMA which is a bearish signal. BTC is also trading below all of the EMA Ribbons. These EMA Ribbons were previously used as a strong level of support. BTC has held above the EMA Ribbons for a good period of time. BTC is looking to hold below these EMA Ribbons with a good amount of selling volume. On the 2h chart we are also seeing a one-body candlestick formation which is bearish due to the fact that the latest candle did not have the ability to close or wick above the previous candle. This candlestick formation is bearish once spotted on a strong level of support. BTC also doesn't have a large volume spike which would make this support valid. I would wait before going long on BTC. This support needs to be confirmed by a large amount of volume and a leg up in the price of BTC. TD Sequential is also looking bearish because we have a green 4 that is about to close below a green number 3. This indicates that we have an invalid uptrend. BTC made an attempt to break the downtrend but is looking to fail. BTC could bounce from here, or break the support and drop to around 29-35k. *WARNING* This thread and analysis is not financial advise. I am not a financial advisor. Thank you for reading.
COINBASE:BTCUSDShort
by Patriick2jz
BTC path laid outHello Everyone, Here is a closer look at the price action of BTC expected in the next month and a half. This is a follow up to this morning idea. In this chart, we look at the current bearish wave C. I tried to track a few different wave cycles to be as accurate as possible. The future will show us if I am correct. In the meantime, I will play accordingly to this blueprint until invalidated. The bottom is not in yet. We are still due for a painful 30% drawdown. So stay safe, and if you find it challenging to follow an Elliott Wave plan, play for a horizontal level. This will help you to stay safe and manage your risk correctly. I am now expecting a feeble push to 43500 with a rejection that will send BTC down to 37300. BTC will have the long waited for bounce relief up to 45k to then reach the bottom down to 29k. This should be over by the end of March. Stay safe. FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA
BTC Flat correction confirmedHello Everyone, The last two months have been intense in the crypto market. After touching 69k, the market dropped 40% from the All-Time High. Looking at the chart, it was logical to exit the market at around 70k. Although I called the top, I have re-entered the market at 55k, expecting the run to 100k like many others. That was a pure emotional mistake (that is why risk management with stop losses is essential) that I hope I will treasure and avoid in the future. Although the market looked strong in price, the volume told us something else. It was drying on the rally. This is typical of wave B, which is a fake run. You can see the difference between a legit run and a phoney in the chart. Nevertheless, there were other signs in the market structure. In the chart, I highlighted the primary and intermediate Elliott wave cycles. If we had to look closely at the chart, we could appreciate that BTC had a zigzag correction back at the end of 2019. By the rule of alternation of EW, we should have expected a Flat formation or complex formation developing sideways for the primary wave 4 (the one we are in now). Nevertheless, until we were holding above 46k, I was giving the benefit of the doubt to BTC and expecting a possible rising triangle. However, since we lost the 46k level, the market has confirmed the flat formation. BTC is now in wave C of intermediate degree, which is usually very painful for market participants. I expect BTC to have a bounce relief from 39-40k retesting the lost level at 46k. I expect a rejection that will create a cascade down to 30k, where BTC will conclude the correction. This aligns perfectly with the Elliott wave channel I have drawn on the chart, which is constructed by linking the top of wave 1 and wave 3 and drawing the parallel line starting at the bottom of wave 2. I have used the line chart as it is clean and blocks the swing's noise, which is best when wave counting. However, we can maybe expect a swing below 30k due to extreme emotional reaction at that level, touching 27-28k. Despite all this bad news, there is some good news. I see BTC bottoming out around middle March. I expect a slow start with wave 1 being steep, but due to the bearishness of market sentiment still deemed as bounce relief with people calling Nonsense levels such as 3-6 k for BTC. Wave 2 will feel like this with a lot of uncertainty. However, things will start to accelerate quickly after that. My final target hasn't changed, and I expect BTC to top at 185-195 k. Unfortunately, the market has to go through the pain of the correction before getting the sweet fruits of the next bull run. If BTC breaks above 54k, this hypothesis will be invalidated. Anything below 54k, then the flat is still in full force. I will start looking for shorts at around 46k expecting lower levels to 30k. If you have any questions, please feel free to comment below. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSD
by CFcryptoTA
11
BTC downtrendGM everyone, as promised, the continuation of the report HTF (Daily): The high timeframe shows a firm downtrend for BTC with a diagonal trendline resistance in full force A breakout of the diagonal resistance would be a positive sign indicating that the bears are losing their grip Nevertheless, let s analyse the move since July, focusing on the volume. Last year rally (2021) was a phoney rally. What do I mean by that? It was essentially a fake rally because it wasn't sustained by volume. We can see that in July as the volume dried up from the absence of sellers the price started to pick up on a small increase of volume. This is typical of local bottoms. However, the volume has failed to pick up strength suggesting less interest by the participant, not much conviction. Instead of any retracement, we could see there was a strong spike of volume which was suggesting that bears were still strong and working in the background. We could see an increase in volume on the topping process. this is typical of big players, institution unloading their shares/coins on the enthusiasm of retail traders. This was a clear suggestion that a local top was due. If we follow the volume then we can conclude that the November top was in fact a local top which doesn't mean this was a Macro top but I would see it as a short term top. Back at the beginning of December when we had the massive sell-off to 42k I was suggesting that if price and volume weren't going to pick up momentum and strong break above 52k BTC would have seen lower prices with my short term target of 39-40k and final target of 30k. Looking at the Bollinger Band (BB) we can see there was a squeeze recently indicating strong volatility imminent with also the price breaking above the 20 MA of the BB to just shortly after breaking back below with a tower top formation, a bearish pattern on the daily. This suggested that bears had an edge on the market and although BTC looked ready for a bounce bears were still in control. Nevertheless, the real blow came when BTC 2 days ago effectively lost the 45500 support which was in force for the last 4 weeks his as previously talked gave a downward target of 39-40K by measuring the price depth of the recent rectangle formation. The recent breakout holds strong significance because BTC has also lost the 52 week VWMA which was working as support for the last year and a half and at the same time has lost the 200 day MA which is also a worldwide indicator used to assess the strength of an asset (below downtrend above uptrend) On this breakout downwards we also had a volume confirmation with volume increasing significantly without any sign of climax which suggests this was a valid breakout with possible downwards continuation. The price has also closed outside the BB lower boundary which once again suggests a follow-through of the trend. A daily close back into the BB will signal a possible bounce back to the mean (20MA) back to 46-47 k. This is now expected However the magnitude of the bounce, volume and market behaviour will be an important indication of whether we found the local bottom. Now considering the Horizontal support and resistance, there are 4 main levels to pay attention to: the closest ones are the September low at 39500 for support and the 45500 support just recently turned resistance. A break below or above this level will create a down or up continuation to the next support and resistance. The 2 most important levels at the moment are the support at 30k and the resistance at 52k. In my opinion, the 52k resistance is the most important level to reclaim before calling any possible bull run. It is an important level signifying the high of September and the recent top of the local head n shoulder that has pushed us down to 40k. Right now I am looking for a reaction from BTC expecting a retest of the 45500 level short term. A possible violation and follow through to retest the 52k level won't be bullish in my opinion, I will still classify that as a bounce relief unless the 52k is reclaimed. There is a possibility BTC could be forming a Daily head n shoulder with the neckline sitting at 39 and invalidation point at 52k. If the HnS is completed then the downward target will be 24k. Although this is scary is still a possibility, but is far in the future right now. Lastly, the Stoch RSI and RSI are in oversold condition and due for relief. In the RSI a clear downtrend trendline can be drawn If the RSI manage to break above with a good volume follow through then this may suggest a new rally may be started. However, I will eye the 52k level before thinking about any serious long.
Long
by CFcryptoTA
More bad news for BitcoinElliott Wave Bitcoin analysis: Unfortunately more bad news for crypto holders I recognised the Impulse wave down. We are in Wave 5 down. Trend Based Fib Extension finding support 1.618 at $ 33, 700 possibly even going down to &30,300 previous support level from 21 July 2021. Disclaimer My content is intended to be used and must be used for informational purposes only.Do your own analysis before making an investment based on your own personal circumstances.
BITSTAMP:BTCUSDShort
by WavesInvesting
BTCUSD D1 - Long Setup (DCA #1)BTCUSD D1 DCA price number one has practically been seen, looking for entries around this $40k mark, we DCA because we want to dollar cost average our entries incase the entries we are looking for ultimate don't trigger. For example, $30k is another entry point for us to consider DCA'ing. If we don't see $30k and we are hoping to put all our eggs in one basket, we may miss the boat completely and the ship sails without us. Therefore missing out on all opportunity. DCA offer us the chance to manage our entries, risk and average the rewards whilst guaranteeing market positions.
BITSTAMP:BTCUSDLong
by Trade_Simple_FX
BTC Extrapolated Trend-Based Fib Extensions 2017-2022In this analysis, I was initially charting BTC's ascending triangle and finding the price target range. I went to confirm that we were truly at a bottom by using the Trend-Based Fib Extensions and also confirm the price target range, both have been confirmed. Then I began to question whether the previous cycle's Fib Extionsions had any implications on price levels of this cycle, and it appears they do. I had extrapolated the .618 fib (widely viewed as the most crucial level) all the way out to 7.618, through out this extrapolation, I was able to identify many of the key resistance and support levels that we have found throughout this cycle, and presumably into the future. The 6.618 Fib Extension from the previous cycle lies within a reasonable range of the 1.382 Fib Extension from this cycle, which also coincides within the price target of our current ascending triangle pattern. Hope this gives insight to those who are inquisitive and a nice dose of hopium to those who are fearful. 12 years ago BTC was below a dollar and it will continue to trend upward over the long term.
COINBASE:BTCUSDLong
by LordFarquad
BTC updateHello everyone, If you followed my idea yesterday, you should have been prepared for this. You knew that if BTC had lost the 45500 level, then we would have broken down. Unfortunately, this has been painful for many of you. Nevertheless, being prepared should bring you a bit of comfort. BTC has just confirmed us the worst. With the current monetary policy, risky assets are under pressure due to the spikes in rates and tapering. Nasdaq was one of the worst-hit, and BTC has followed. Previously I talked about three different scenarios using the Elliott Wave theory: - 1 Ascending triangle (my preferred count previously) - 2 Accumulation before the explosion - 3 Big Flat I have to update my idea now and confirm the flat. I know many of you will be demoralised, but the good news is that you will be able to buy your favourite crypto cheap and make more gains in the next cycle. You can see in the chart here presented that if you follow all the counting, it makes sense to believe that the final bottom will likely be at 30600. The end of the fourth wave of a smaller degree is the 100% extension of May's wave A, and it is in Fibonacci equilibrium with the previous waves. I am now looking mainly at shorting the market, and I will personally exit most of my cryptos. This is following my strategy and my view of the market. It doesn't need to be yours. The main resistance now sits at 45500, and soon there will be a test of it and failing to be reclaimed will be another confirmation of more downside potential. Just by using the extension target of the rectangle pattern, we have violated the target is 39k. Nevertheless, that will be the end of wave 3 in this downtrend. I will then expect a retest of 45500 and then one more leg down to 30k. In case the 45500 is reclaimed, then a possible uptrend may be starting, but it will need to be assessed then. For short term trading, I will always use more traditional tools like resistance and supports similar to the one used in the last few days as they have a better short term directional forecasting potential. The EW will be there in the background to highlight some of the long-term possibilities. So going for steps: BTC has lost the 52 week MA (2 years dynamic support) - retest of 45500 (52 week MA) - target 39k if 39k fail to provide support and BTC do not break above 45500 then will look at 30k. I am now focusing my trades on the shorting side. I hope this makes sense to you. FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA
BTC Bitcoin: Head & Shoulders PotentialHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Bitcoin (BTC). The chart is self-explanatory. The Bitcoin price could be forming a Head and Shoulders Pattern similar to before, but the price drop this time could be very concerning. There is a multi-month Support Trend Line which could possibly hold the price up. 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
275
Bitcoin: They see me rollin’… down 😎The virtual coins are rolling untypically smoothly these days. Neither bulls nor bears seem to be too interested in catching them. However, we expect some new movement soon. The price could go up into the lower half of the magenta colored area between $55296 and $65870. Somewhere in there, it should change its mind and fall down below the support line at $41634. At this point, further downward movement is very likely. Then again, Bitcoin could also decide to break through the magenta-zone, aiming for the support line at $68958. Once it has hit this mark, there is a 20% chance that it might rise further still.
BITFINEX:BTCUSDShort
by MarketIntel
2
The simple BTC trading ideaGM, everyone. Unfortunately, BTC is starting to look ugly. Bulls are failing to reverse the trend (clearly bearish since 69k). They begin to look tired, and to my eyes, the failure to gain momentum on the bounce yesterday and keep the price above the 46800 is the proof. Nevertheless, we do not panic. Right now, as I explained well in the last week, I am looking at the two major levels, 52k and 45450. I won't sugar coat you the pill, and if we close below the 45450, we will likely see 40 k. Despite this bearishness, if bulls can fight back significantly and bring volume in, BTC will likely complete an Adam and Eve bullish pattern, which is again played only on the breakout or retest. I talked about this pattern in a previous post. So now keep an eye on the critical level 45450 and short a close below that level. If the price temporarily closes below the level and re-enter the price range above 45450, you should exit the trade immediately, risk management. Now, if you ask me, I am long since 45700 with a stop loss at 45000. Why? I am playing support and resistance, buying on support (45450) and selling on-resistance (52k). If any of these levels are violated, I will automatically switch strategy and follow the trend...becoming Perma bear or Perma bull will only damage your pockets...a trader has to be able to change quickly to adapt to the market. This is excellent news for retail traders that play with relatively small capital as the orders are easy to be filled. Imagine an institution that has billion. How hard it must be for them to play it right. So eyes open and be ready for anything.
by CFcryptoTA
BTC trditional approachHello Everyone, Yesterday I posted the Elliott Wave analysis, and Today I decided to give you a more traditional view. They complement each other, and they should be used together. Elliott Wave has far better long-term and short-term forecasting power, and the traditional is excellent to confirm The Elliott Wave prediction or debunk it. So they should always be used together. I tried to label each of the visual indicators in the chart to help you understand. BTC is trading in a rectangle pattern short term, and this gives a specific target both ways up or down in case of a breakout. The targets are 58500 in case of upwards breakout and 39500 in case of downwards breakout. Either way, you should be able to profit from this move (up/down) in the futures market. There are a few different resistances that are pressing BTC downwards. However, strong supports hold BTC with the 52 Week VWMA and different VWAP. Nevertheless, if we look at the 52 weeks simple MA (48100), BTC has now closed below, so you should all be on alert mode. BTC must reclaim the 52 week SMA as many traders pay attention to it. Another indicator that I believe is important to track right now is the Stoch RSI . Although many doubt its use, many retail traders trade using only the Stoch RSI, which gives the indicators strong validity. BTC has reset on the daily frame; however, it is starting to turn bullish, but the price is struggling to follow. This will be bearish if the Stoch RSI reaches overbought conditions and BTC won't move and reclaim the 48k level strongly. Nevertheless, I am bullish right now. I expect BTC to retest 45500 in the first part of the week to finally bounce and head to 52k. As I have shown in my previous charts, I doubt a capitulation event at this point, and I am expecting BTC to reach 58k in the next few weeks. Why? - Bullish engulfing on the weekly timeframe and a bullish cross of the Stoch RSI - Oversold - Elliott wave most probable scenario, in my view, is an ascending triangle (Bounce from this level) - Confluence of Long-term strong supports - Confluence of different resistances turned support (retest) - Break and retest of the diagonal trendline resistance weakening bearish momentum - Higher High and Higher Low structure NOT invalidate yet signalling an uptrend In conclusion, I am still expecting a bounce from here starting from the middle of this week. However, I would like to stress that the macro conditions are very confusional right now (I never trade on the news, and I do not pay attention to them usually) with the dollar strengthening due to the anticipated interest rates and announced by Powell. 2022 should have a deflationary bias, making it very hard for risky assets to start a raging bull run. However, history also shows that no market condition is equal, and what happens in one deflationary market do not repeat in the next one. This can be appreciated from different historical charts in which DJI commodities have rallied and plunged during similar conditions during different periods, so no market condition is equal. That is why I stick to Technical Analysis and avoid listening to the news. FA and TA need to be looked at together but remember price action will always be king whether FA supports it or not, so follow the price and not the word of mouths. 2022 will be interesting, and many will reason the market with the different markets conditions and bla bla the reality is that if you follow the price, you win. Reasoning comes later when action has already happened, often as an excuse. FOLLOW ME, SHARE, LIKE AND COMMENT
Long
by CFcryptoTA
Bitcoin intraday analysis, see price action at these levelsThis is a Bitcoin intraday analysis, Let's wait to see price action at these levels. BTCUSD could test these supply zones after it was tested lower zone last Saturday. If you find the article useful or interesting, Let's comment below ! ------------------------------------------ 🔰 Attention about this Bitcoin analysis This is my personal idea and analysis only. Let's see it as an example or a reference. You also need your own analysis as well and manage risks.
BYBIT:BTCUSD.P
by UnknownUnicorn33462838
BTC Elliott Wave current countingHello Everyone, Today I decided to present you my most probable Elliott Wave counting. Although Elliott Wave can be a potent tool that can make you profitable if used wisely, sometimes there could be a margin of interpretation from the trader, resulting in painful mistakes. When analysing a chart using Elliott Wave, there are instances where the counting is crystal clear, so there is very little subjectivity to it and others where the counting is foggy and doubtful. The best way to use the Elliott wave is to have 2-3 possible counting, with one being the preferred one and the second and 3rd on the pipeline if the preferred one fail. Nevertheless, a trader must constantly update his wave counting to account for "unexpected" market turns. Here I present you my two most possible scenarios, with the third one laid out in the following description. In the short term, sometimes it can be easy to catch market turns and trade with the trend especially using candlesticks and basic horizontal resistance and support zones. However, when trying to forecast precisely the market for the next year, things can get a bit more complicated. Now to contextualise BTC: As I explained for the whole of 2021, BTC has completed the primary 3rd wave, and we are now either still in the 4th wave (correction) or in the minor wave 1 of intermediate wave 3 of primary wave 5. In my opinion, there is no doubt BTC will be soon starting its way up to 100k, with my final target at 185 - 190k. Now consider this, let's look at the possible scenarios here presented: SCENARIO 1: In this scenario, I have kept my original idea that back in May, BTC concluded a violent zigzag correction setting the end of wave 4 and starting wave 5 back in July. This one was my preferred wave counting, and it is still valid to a certain degree. However, things got complicated with the last correction. BTC failed to hold above the previous main high, entering the price area of intermediate wave 1. One of the main rules of Elliott wave is "wave 4 never enter the price area of wave 1 unless in a diagonal triangle". I do not think this one was wave 4 of primary wave 5. I believe (considering this scenario) that we are in wave 2 of intermediate wave 3 of primary wave 5. To make it simple, BTC is in the correction before the most aggressive impulse wave (wave 3), which will bring BTC to 104k in the short term (1-2 months). As you can appreciate from the chart, I believe the wave count fits this idea well with this retracement. This scenario considers the last wave up an extended wave 1 with wave 2 retracing to the 0.786 of wave 1. This is very much possible. However, what makes me sceptical is this retracement entering the price of the previous intermediate wave 1 (July till September impulse wave). Considering this scenario, BTC is now bottoming out and will start a very aggressive wave 3 soon, with the final target at 130k (perfectly fitting the main primary cycle idea). Although this was my preferred scenario, I consider now this a possible scenario placing this idea as the second most likely wave count. SCENARIO 2: This is my preferred count right now. As previously explained in other ideas and videos, the recent retracement was far more aggressive than expected. This has pushed the previous scenario explained back due to the price entering the price area of the previous impulsive wave. This has caused me to think that BTC is probably forming an ascending triangle. This is a very common correction pattern in wave 4 as it takes longer than a simple correction (Flat, ZigZag) and creates a solid base (accumulation) for the next strong impulse wave (Wave 5). As it can be appreciated from the chart, triangles are formed by 5 waves which each subdivide into 3 waves (3-3-3-3-3). This fits the current price action well, especially with the recent two impulse wave being almost identical in price movement, which is typical of ZigZags correction (characteristic of a triangle). Each wave often retraces 0.618 of the previous one. However, this differs depending on the type of triangle. In an ascending triangle, the counter-trend waves retrace 0.618; however, the waves in the trend direction extends, forming new higher highs. Considering this scenario, BTC should start the 4th ZigZag correction bringing a new ATH. After this, there will be one last retracement 0.618 of the previous ZigZag concluding primary wave 4 and beginning a strong wave 5, which will possibly push BTC behind my 185k target. Lastly, SCENARIO 3: This is the less probable scenario, and as explained in other videos, it considers that BTC may be in a big expanded flat, which will push prices down to 21k. This is the less likely scenario; hence I didn't include it in the visual part of the idea. In conclusion, the next BTC move will tell us which of the 2 main scenarios is correct. A decisive break out of the ATH with a successful retest would validate the first scenario. Instead, a fakeout at the ATH will validate the second scenario (currently the most probable). I hope you have been able to follow my idea. Which of these scenarios is your pick? (Comment below either, scenario 1, scenario 2 or scenario 3) Have a great profitable new year. FOLLOW ME, SHARE, LIKE AND COMMENT
Long
by CFcryptoTA
BTC Bitcoin: Short-Term UpdateHello friends, today you can review the technical analysis idea on a 1H linear scale chart for Bitcoin (BTC). The chart is self-explanatory. The Bitcoin price is moving up the short-term rising broadening wedge pattern (generally bearish) and may be met with the Ichimoku Cloud (red - bearish). The Volume came in earlier today but seems to have dropped. The RSI is moving upwards in a rising channel. The Fibonacci Retracement shows the price hovering in the 0.786 area and having trouble closing a candle body above it for now. Overall the price may have the potential to move higher with the RSI moving higher to the overbought area before a retracement. In the ideas noted below are a few mid-term and long-term Bitcoin charts. Please review. 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:BTCUSDLong
by MillionaireEconomics
2