Bitcoin H4 H&S patternBitcoin is forming a head and shoulders pattern on the H4 view.
The bearish target is 42,000$.
Closing under this target will make Bitcoin closing under the daily moving average 200 which is a bear market signal.
Bitcointrading
BTC Bitcoin: Potential H&S PatternHello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin ( BTCUSD ), a cryptocurrency.
1) In a prior idea, I noted the price may go up as a result of the Double Bottom Pattern (bullish pattern). However there is a potential for a Head & Shoulders Pattern (H&S Pattern) as well, which is a bearish pattern. When reviewing lines and patterns, it is important to understand all the different scenarios and focus on which pattern is closest to forming so you can take action.
2) If the price goes below around $47K, keep your eyes open for a potential H&S Pattern completing the formation. This could bring the price down to around $41K-$42K. This would bring the price to around the wick area on December 3, 2021.
3) The RSI (relative strength index) has been supported by a trendline. Keep an eye on the support and potential break.
What are your opinions on this?
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
BTC scenariosHello everyone,
Which one will it be?
BTC is on the verge of an important decision. Will BTC complete the HnS and Head to 42k? Or will BTC bounce from the support and break the HnS creating a strong reaction that will bring it to 56-58k?
Most of the oscillators and momentum indicators are flashing oversold. However, if we look at the volume, every bounce from 46500 was with drying volume, which is a bearish indicator. Will the volume increase on support to signal a breakout or, will it be a fakeout? Considering the indicators, there is a reasonable probability that the HnS continuation will fail. However, the best play is to wait.
Wait for a confirmation sign (breakout of the neckline 46500 or break out of the head to right shoulder resistance at 50k).
It is always best not to be surprised.
If we bounce convincingly from the support, it will be a good sign of a reversal. If we open and close on the 12h below the 46500, it will be a good sign that 42k is coming.
Stay safe
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Bitcoin, What is next?Hello everyone,
In this video, I am going through my thinking process when looking at the current Bitcoin structure.
Hopefully, this will help you learn to create a strategy and a thinking process that is unique to you.
If you follow other traders' ideas, you will likely lose money nine times out of 10.
Why?
Because each of us has a different plan, risk management strategy and capital size.
So think for yourself. However, the best thing you can do, if like me and money other you have lost money due to poorly managed trades, is to educate yourself...Knowledge is power, practical, and you will be able to use it every time you need it.
Remember, opinions and confirmation bias in markets is the death of traders. Accept to be wrong to save your capital.
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BTC Bitcoin: Short Term Double BottomHello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin (BTCUSD), a cryptocurrency.
Quick Analysis:
1) This analysis is short-term and shows the Double Bottom Pattern Breakout Potential to around the $56K-$57K.
2) If price moves to that target, be ready for a potential Dead Cat Bounce scenario or Bull Trap scenario to happen. This is using the Fibonacci Extension levels.
3) The RSI (relative strength index) is being supported by a trendline.
4) The chart has many of the notes. Please read thoroughly.
5) Remember this is just a scenario of what could happen. Anything is possible.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year?
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Bitcoin lowest target is 42765$Hi everyone,
In my count, #Bitcoin is in a WXY (double correction). Y can be an impulse down, WXY, ABC or ABCDE. #bitcoin actual pattern look like a barrier triangle W4 (descending triangle), which should bring more downside. This scenario show a max target of 42765$. Another possible target would be 45842$ is 161.8%. If this turn out to be a WXY inside Y 35k would be a possible target, but this is not what i see for now. Best to you.
A W on the 4Hour chart for Bitcoin???I think this is a W forming on the 4-hour chart that's going to take us to the 58K levels, also a very important Feb. the line we just passed 0.5, Daily RSI is very low has nowhere to go but up .....this is very Bullish for Bitcoin
Bitcoin H1 diamond patternBitcoin is forming a diamond pattern on the H1 view.
The bullish target is 52,000$ and the bearish target is 45,000$.
Bitcoin H4 W patternBitcoin is forming a W pattern on the H4 view.
Bullish target is 55,000$ and bearish target is 49,000$.
BITCOIN urgent market updateHello everyone,
In this video, I dive into the least price action of bitcoin.
I use different indicators such as moving averages, Elliott wave counting and oscillators.
I also explain why I changed my Elliott Wave counting and my opinion on this current BTC trend.
If you like it, don't forget to
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BTC Bitcoin: Price UpdateHello friends, today you can review the technical analysis on a 4H linear scale chart for Bitcoin (BTCUSD), a cryptocurrency.
Quick Analysis:
1) Though price has been falling over the past few days, it is important to note that there are two important support trendlines noted in the charts to stay above. There is also a resistance trendline which has been holding the price down. If price can get above that, there may be an impulsive move upwards.
2) Volume is consistent but low.
3) If price continues to fall, keep an eye on the danger zones on the chart as well as the support trendlines.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Bitcoin Analysis and Trade IdeaBitcoin hit the Weekly demand and reacted bullishly from there. Looking for a retest of the bullish order block, then continuation of the bullish momentum.
BTCUSDT is preparing to heal hold your seats tightBTCUSDT is attempting to touch 53000$ in no time before it pumps to 87000$, 53000$ is the new critical price, if we close the day above 53000$ we got the deal.
Bitcoin ScenariosHello Everyone,
I present here two possible scenarios.
As an Elliott Wave theorist, you need always to have your most probable wave count and then some alternative on the side.
My first scenario was back in May through July. We had a zigzag and then followed by the new wave 5, which has been invalidated.
These are now my two most probable scenarios.
The first one is a raising Triangle. This is my choice number 1. Considering we are still in corrective wave 4, Ralph has noted that triangles are the most common pattern found in wave 4. This is because it lay the foundations for the next impulsive wave.
Also, he explains to always look at the previous correction in wave 2, and by the law of alternation, wave 4 will be an alternate pattern (ex: If wave 2 zig zag then waves 4 triangles or combination).
Now considering that wave 2 back in 2020 was a zig-zag, we can speculate that wave 4 will possibly be either a triangle or a combination of patterns (Double three, Triple three).
Triangle Characteristics:
- 5 waves ABCDE
- Wave ACE are raising higher lows
- Every wave is subdivided into ZigZag waves (3-3-3-3-3)
So the resistance to paying attention will be 58k. If the price is strongly rejected and the lower support trendline fails to hold, the triangle will be invalidated.
If the triangle is validated, which should happen in the next month, then we will see a three-wave up starting from this low to raise slightly above the new ath (wave D) and then one more 3 waves down, which will scare the market (wave E) to complete the triangle.
The second scenario (bearish) is the expanded flat.
Flats are simple corrections and, in this case, the most unlikely due to the alternation law explained earlier. However, there is a chance we see this pattern unfolding followed possibly by a combination (accumulation) at the low.
Flats are composed of 3 waves ABC, Wave A&B are subdivided into 3 waves, and wave C is subdivided into 5 waves being the motive wave of the pattern, forming 3-3-5.
If this scenario holds true, then it means we have just started wave 1 of wave C. However to validate this scenario. We will need to wait for wave 2 to complete. The wave will likely complete between 58k and 62k.
So if BTC fails to reclaim this area with a strong rejection and, as a final confirmation, will lose the lower diagonal support trendline, then it is likely we have formed an expanding flat formation with a target between 30 and 20k depending on the motive wave sequence.
The good news is...BTC will soon have a relief bounce...the bad news is yet to come.
I know this doesn't sound very easy...because it isn't. I will dive into these concepts later with a live/video.
If you have any questions or anything you would like me to explain in more detail in the video later on, please feel free to leave a comment down below.
in the meantime,
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BTC start forming divergence on 4H MACDBINANCE:BTCSTUSDT
Channels on chart its a key. If we a looking on local 4H situation we can see we are trade in 2 channels. On MACD we start forming like usual 3 bottoms divergence (maid going up, price on chart going down)
Downtrend white channel first support 12 October at 53900 top of this channel 10 November 69000
now we going down and found second touch support 4 December 42600 resistance at middle line white channel at 51700
now we have to find support at 46800 (higher low) 12-13 December and once again retest 0.5 level by fib since May
17 December going over middle line white channel 52700 and trade above with retest local fib downtrend line (dot lines) around 22 December we will touch 58700 (0.781 level by fib since May) and top of white downside channel. Then we will see if we reject price going to official bear market if we are breaking out we make a continuation and cycle will be longer than everyone expect. In this case you can check my previews idea about global BITCOIN moves since 2020.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
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Bitcoin Simple RetestHello,
Some of you may recall back in sep-oct I was calling the breakout of this pennant/iHnS/Cup n Handle (depending on your view, many patterns can be found in one). I was calling as a target 72-73k. We felt short of 3k from the target. However, that s not important. What is important is that this looks like a bullish retest of the pattern for now. This makes sense considering the market was running overheated.
The low volume suggests weakness in this down move. I wrote on the chart the confluence of strong supports between 45 and 46500.
In my view, a clean break of the 46500 with an open and close below on the weekly will probably start a dip down to 30k.
However, this looks like a retest, and I will treat it as so. Great risk-reward ratio.
Fear is uncomfortable but often is the best emotion in markets to buy-in.
Always remember to put a Stop Loss to preserve the capital.
New traders and experienced traders often do not understand that it is not important whether you are right or wrong in the market. The market doesn't care...what matters is your set-up and your P and L.
What you need to care about is your capital. Forget about the thrill to be right or wrong. Preserve your capital to fight another day.
Professional traders take losses like champions, small, consistent losses but consistent profit dictated by your RR setups...over 2 as a general rule.
So whether you have an opinion on the market that can be right or wrong, it doesn't matter. It is just an opinion, and the market will do what it needs to do. So stick to your plan...not mine, not your friends, not your relatives...your set-up and risk management.
I can be wrong today and other 4 times in a row, but in profit on my P&L...the sooner you learn that to be right or wrong in the market doesn't matter, the sooner you will become profitable.
Remember, the market does not care about your ego and your need to prove to others that you are right.
Fight to live another day, and you will be closer to making it as a trader than you ever be.
Bitcoin and the moving averagesI won't be dwelling too long on this as it is just an idea I have developed between yesterday and today.
However, MAs are used as dynamic supports and resistances during bull and bear markets.
When multiple MAs are spread out clearly, the underlying trend is strong. When they are squeezed together, high volatility is imminent, and when they are crossing each other multiple times indecision in the market.
To better understand, I have also gone back to the 2020 bull market start to compare the scenarios.
As I said multiple times, there is no doubt we are in the process to start a great bull run. However, here is the MAs chart to give you another angle to my view using a more conventional analysis tool.
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bitcoin h4 make a rising wedgeafter bitcoin crash around 20%. now we can see a correction temporary until bitcoin make a rising wedge, so opportunity for buy if rising wedge happen in the future is 40-43k
Bitcoin- Preparing for a new drop?As I said before, 50k-53k is my sell zone for Bitcoin and the main crypto is staying in this zone like is waiting for something.
Yesterday we had a dive under 50k, but this was short-lived and BtcUsd quickly reversed.
However, the chart structure remains grossly bearish and the rise from 41k is corrective in nature
I will remain bearish as long as the price is under resistance and only a clear break above 53k would change my perspective
BTC on the vergeHello everyone,
Today I bring you some good news.
I laid out the catalyst for our next move in this simple chart.
Bears are soon to be reckt.
As you can see here, BTC is following the path of October.
There is a hidden bullish divergence on the daily and a few similarities to October. You can appreciate the rsi has been suppressed at the resistance trendline. When the rsi breaks the resistance trend... it will be a firework, especially if it will coincide with the price resistance trendline breakout. So keep your eyes open. 58k is the real major resistance, so that will be the target in the short term. By the way, in terms of overall targets of bull run, my targets haven't changed (100k first TP and 185k final). Just the timeline has changed.
46500 is BTC support sitting on the 200day MA. Anything bought over there has a great RR. So don't sweat if you see another retest...sweat if you see an opening and close below that level.
Set for the run.
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Bitcoin and next short liquidationsBINANCE:BTCUSDT
Bitcoin already liquidated 2.6B long positions now we got 35% opened short positions on 1D so its a perfect time liquidate short positions and make a last pump to 63-72K and over this cycle. We bounced at 42K and now trade in local fib with 3 times touches resistant line on fib, so next one touch possible will be break out with pump to 0.5 lvl and retest this line like support and continuation move up.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
Don't forget sub and join my channels under this idea!
Bitcoin- New leg down to 40k zoneAfter the weekend's strong sell of, Bitcoin has started to rebound, as it was normal, and has reached my sell zone above 50k.
The structure of this rebound is clearly corrective in nature and seems to be over.
I expect a new wave of sales for bitcoin and my target for this short trade is 40.
Confirmation that the correction is over, comes with a daily close under 50k
Bitcoin worst Over?Hello everyone.
First of all, I want to thank you for bearing with me during the unexpected. Although this last flash was a bloodbath that led to 3billion in realised losses in the market, there is a lesson to be learned...Why not treasure it? You probably paid for it during this crash if you were in the market.
1 - As traders and investors, we get drawn in emotion...when you feel your judgment is clouded and you aren't sure anymore of what may happen next. Take a walk and a few days off on the sidelines...there are always new trades to be made in the market.
2 - Accept to be wrong. There is nothing more painful for a human being than admitting to others and especially ourselves, that we were wrong. Why is that so important? Because if you trade with the constant memory that you may be wrong you will have strategies to cut your losses and preserve your capital. One bad trade can wipe out months of hard work and good trades...cut your losses aggressively.
3 - remember yourself if you are a short-term or long-term trader. Each should play with different rules in mind and different timeframes. Short term trader would have cut the trade at 55k and exited as the i HnS failed. A long term investor is probably still in and not even looking at the chart. The macrostructure is still intact.
4 - always place stop losses and stick to them.
5 - Do not marry to your trades...I am guilty of this in this flash crash...I married to the bullish bias of the HnS, and I wouldn't accept the reality and warning signs as I was focusing on just one side.
After saying this... I was wrong. It was a wild ride since June with a series of good predictions and trades...This has clouded my judgement and given me the arrogance to believe I couldn't be wrong.
Well foolish me.
Now with the present sight...the signs were there. Double top on resistance at ATH. BTC broke the 58k support and price pattern neckline.
BTC re-attempt reclaiming 58, failing multiple times with upper long wick candles.
The double top price target was 46500, where the daily candle closed.
I am now looking at the daily frame. BTC is walking its way up to 58k.
58 k will be a crucial area that BTC needs to reclaim and consolidate above to continue the uptrend. If BTC is rejected there with strong candles and pattern signs, it may mean the start of an intermediate bear trend that may extend down to 20k.
However, I am still bullish until proven otherwise.
BTC had a similar significant break or make point at 47k in October.
I see BTC moving its way to 58k. I placed some stop-loss short term at 45k.
I would also like to point out that the RR (1.27) on the daily frame is not great. So the best move is to wait for BTC to build up momentum and break the 58k unless you are a long term investor.
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