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BTC Bitcoin: Head & Shoulders ComingHello friends, today you can review the technical analysis on the 4H linear scale chart for Bitcoin ( BTCUSD ), a cryptocurrency. #CryptoPickk noted in the chart: 1) The Bitcoin Price is breaking out of the falling channel it has been forming for multiple weeks. 2) The price has a measured move of about 7%-8% before it may be met with resistance around the $63K-$65K. This is outlined in the red rectangular box in the chart. 3) If the price does not break out of that area to meet an All Time High, the price may form the Right Shoulder of a Head and Shoulders Pattern (which is a Bearish Pattern). 4) The measured move of the Head and Shoulders Pattern bring the price down to the $51K-$52K area, which is about 18%-20% down. 5) The $51K-$52K area is also a place where the price may touch a long-term (multi-month) trendline before a bounce. 6) The chart shows the Ichimoku Cloud is red showing that there may be some downside potential upcoming. 7) The RSI (relative strength index) has been forming Lower Highs for multiple months. If the price moves up by the estimated 7%-8%, the RSI may go up to re-test the top trendline before going back down. 8) The Volume is consistent. 9) If the price falls back into the falling channel or reaches a new All Time High, this idea may be invalidated. 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
COINBASE:BTCUSD
by MillionaireEconomics
12
Bitcoin price may reach new highs - daily chartTechnical analysis regarding the price of BITCOIN in relation of dollar Tether for the next scenarios, based on daily movement. disclaimer *** In accordance with CVM Instruction No. 598, of May 3, 2018, Art. 21, I declare that the recommendations of this analysis reflect solely and exclusively my personal opinions and perceptions and that they were prepared independently and autonomously. Not being considered a purchase and/or sale recommendation. *** Any questions do not hesitate to contact me. I'm happy to be able to help you in the best way I can. 🙏
Long
by luizhcruz
1
Why BTC $53722 LEVEL is important to HOLD????? IN-DEPTH ANALYSISWhy BTC $53722 LEVEL is important to HOLD????? IN-DEPTH ANALYSIS It’s a LONG term FIB 0.236 level. It’s a SHORT term FIB 0.382 level. It’s a FAST DPC EMA level. What if $53722 LEVEL gets BROKEN????? Next MAJOR level to watch = $44148 It’s a LONG term FIB 0.382 level. It’s a SHORT term GOLDEN FIB level. It’s a SLOW DPC EMA level. NOTE : a lot of LIQUIDATIONS are pending BELOW $ 40900 LEVEL, don’t get SURPRISED to see a BIG wick down to $36410 (LONG term FIB 0.5 level). Indicators predicting OVERALL scenario BEARISH now MY NEXT LEVEL to SHORT: if BTC FAILED to HOLD above $62458, SHORT position will be opened. SCALPING (based on CURRENT scenario): Our LONG term GOLDEN ZONE($56054-$56691) failed to HOLD BTC price. RETEST to LONG term GOLDEN ZONE and SHORT term GOLDEN ZONE($58921-$59206) will be good area for scalping. VALUE AREA for SCALPING: VAL = $54574 VAH = $63996 NO DOUBT, for long term= am BULLISH on BTC. We can see BTC above $113k in next coming weeks and above $200k in near coming months. INDICATORS by TOP-NOTCH PINECODERS are used in ANALYSIS.
Long
by cryptopreet
Bitcoin- Sell rallies for a 25-30% dropIn the past week, 60k zone attracted sellers like a magnet and, after confirming this zone as a strong ceiling, Bitcoin has dropped like a stone yesterday, breaking under 55.500-55.700 zone range support and making a local low under 54k. Now the cryptocurrency is in a normal rebound and this can offer a good opportunity to bears for opening short sell trades. The old support from 55.500 should act now as resistance and in this zone I will look for selling. Only BtcUsd above 60k would change my opinion and, as I said yesterday, Bitcoin can visit 40k zone by year's end.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
34
Bitcoin Analysis - Triple Falling WedgeIts always a Gamblers Paradise in trading and that is why staying informed and having a game plan with strategies for the price going in either direction After yesterdays analysis leaving the opening to a move in either direction where if we broke above and held $60k that we were looking for breaks to the upside, and then also if we broke down that if we broke below $54k-$55k that we would be looking for more moves to the downside.. We saw the break down after stopping our breakout at $59.9k ---> MAINLY DUE TO EVERYONE BEING ENTIRELY TOO BULLISH AND LONGS HEAVILY OUTWEIGHING THE SHORTS. If you look anywhere in the Crypto Community, i.e. twitter, facebook, reddit, news articles etc.. you will see that EVERYONE has flipped to an HEAVY BEARISH OUTLOOK. I have seen people even bringing up that Bitcoin is going to $0 and bringing up items from the Bitcoin Obituaries site. But put all that aside and look at the technicals. IF a break below the $56k point was going to happen and was not just a wick down and recovered above support, then the next support I was hearing from more most was between $48k to $50k. Overall, Its obvious that the price is being HEAVILY MANIPULATED downward since $69k. And with the breakout attempt that came yesterday it got a bunch of MoonBoy's and Fomo Joe's out from being in hiding.. So what happened? Market Makers just crushed every MoonBoy's and Fomo Joe's dreams having the price fall back the bottom of the support box, the price was recovering and then punished them further by forcing the panic sell of about $3500 off the market price. Think about how much $$ it takes to shave off that much in market price. Here is the merit that bitcoin CAN START ITS ASCENT AGAIN off the $54k price level It is held in some hidden technical analysis that it takes a trained set of eyes and understanding of market psychology for the market makers perspective. I looked at multiple timeframes and made some very small adjustments to the trend lines and it shows a clearer picture. After the few changes I made with the new data and price action, we can see something like this since October 2021 Bitcoin Index 1D Chart We have 3 separate falling wedges that have formed, along with the 11 year trend line that we are still holding as support. Falling Wedges are Bullish Continuation Patters and have a very low probability of breaking to the downside. Bitcoin Index 1D chart: When we look at this in comparison to some previous price action we are able to see that the percentages of throwbacks compared to the last, we are just about even give or take a few points. This would be showing that if we are going to make a bottom we would be needing to do it between $52.5k and $54k. Keeping candlebodies above the 11 Year trend line would be much better from a technical standpoint. Bitcoin Index 1D Chart: Looking at the timeframes of each throwback as well as the bottom we made from before at $29.5k. We are also already in the range of where we would be expecting a bounce. We have a triple falling wedge formation that has built at the bottom, half way up the recovery and then also that starts above the Previous ATH and has moved back into the top of that previous candlestick pattern. Having multiple falling wedges on the top too is also very strong from a bullish side of analysis My custom Indicator at the bottom is still showing a wave curled to the upside even with the dump yesterday, and If you look back at the last breakout we made on the indicator, we could possibly see something similar to this. We can see that the matching of the last price movement, we would look at an overall price target of $92k when confirmations of the breakout are made. So far, given the support level being held with candle body above the 11 year trend line, and that we are respecting multiple falling wedges either from the bottom(support) trend line or using the top (previous resistance) trend line of these falling wedges as support. This is still holding up as a very bullish formation even with the dump we had yesterday which if you look, topped at the largest falling wedges top trend line and then got supported by its bottom line. We are also holding the trend line from the bottom that started the initial breakout (in green). If we break below and close daily candles below these support points ive labeled... THEN WILL I BE LOOKING AT CHANGING MY BIAS. UNTIL THEN, IF you are still not in a position wait for the confirmation of a breakout to be mad and then look at placing positions. IF you are still currently in a position like I am, then you can look at DCA more into your position and work that entry point down, but keep some stop losses around $51k. We could possibly see some wicks down to $52.5k still but that is still yet to see. If you already switched your Bias please go back to the top and read again :)
INDEX:BTCUSDLong
by Gamblers_Paradise
1
Bitcoin Black friday This will probably be one of the most simple charts I released. I know you are panicking, and I felt it a bit as well this morning. The technical picture was great yesterday. Unfortunately, the new variant Covid news has created the catalyst for bears to take advantage and squeeze the longs. Also, algos using AI have liquidated their position based on news dumping the markets. Every market has plunged today, so crypto wasn't spared. The onchain analysis has shown that whales have been accumulating for the last 2 weeks, some 2.36 billion $ in BTC. Although the crush was unexpected, the technical structure and bullish trend are still strong and intact. I drew here for you the most important supports and strong dynamic trendlines. A descending wedge has been formed into the descending channel, which is bullish. BTC at this level is super cheap, with all the momentum indicators and oscillators heavily oversold (same levels of July). Strong bullish divergences are flagging up in the different timeframes comprehending the daily and 4h. All of this is to tell you not to panic as the uptrend will resume soon. Instead of seeing this as a catastrophe, see it as an opportunity if you are sitting on some cash.
Long
by CFcryptoTA
2
IT CANT BE...IS BITCOIN GOING TO DO IT AGAIN??Gamblers Paradise here again with another important Bitcoin Technical Analysis update for you cryptocurrency traders! BOYY is it a goodie today too. This day has been a long 4 weeks coming. Over the past 4 weeks we have been watching the three main timeframes -- the Daily, 4H and 1H timeframes. The 1 Hour timeframe below is the most prominent in the pattern that we have been watching eagerly now since October 20th. That pattern has been the possible nail in the coffin to our bullish hopes for the rest of the bulll run; its the Wycoff Distribution Schematic #2 As you can see we have a fair resemblance to that pattern on the 1H and 4H timeframes. Not only would this be a death blow to crossing the .618 fibonacci extension again without a SERIOUS CORRECTION, with probabilities showing we would go back to test around the $25k level. This would be a first for bitcoin ever, to not end a bullish parabolic run with a blowoff top and instead end it with a Macro Double Top with dual Wycoff Distribution Schematics. I would coin that the "Dual Distribution Double Top of Death". (for all of those who love alliteration) BUT LETS TURN THAT FROWN UPSIDE DOWN! I have good news for you! Just about 2-3 hours ago, we saw the first descending resistance trend line being broken on the 1H timeframe! This also comes at a crucial point on the chart, where if we were to break below the $55k price level, we would have seen and confirmed the breakdown to finish out the Distribution Schematic #2 again. Instead... THIS TIME WE HAVE FORMED AN A&E DOUBLE BOTTOM WITHIN THE SPECIFIC SUPPORT ZONE THAT I HAVE HAD OUTLINED FOR OVER A MONTH NOW THAT USES THE PREVIOUS DISTRIBUTION TOP WE HAD AS SUPPORT! WE GOT THE DOUBLE BOOTOM AND ALREADY BROKE ONE RESISTANCE TREND LINE A% $58k AND NOW WE ARE LOOKING TO BREAK THE $60K PRICE POINT. IF WE ARE ABLE TO GET A DAILY CANDLE-BODY TO CLOSE ABOVE THE $60K PRICE LEVEL, THIS CONFIRMS THE DISTRIBUTION PATTERN HAS BEEN NEGATED AND WE WOULD HAVE REVERSED THE PATTERN INTO A WYCOFF ACCUMULATION SCHEMATIC #1 PATTERN AND WE WOULD LOOK TO FINISH OUT PHASE D and PHASE E UP TO $96k-$98k This figure below is the Wycoff Accumulation Schematic we would look at playing out with Phase D and Phase E Wycoff Accumulation Schematic #1 The 4hour time frame shows the same, just is more consolidated which shows strength within the 1H timeframe breakout pattern: The Daily chart though is showing the real strength in our pattern: The daily is showing that we have support along the green curved 11 year Resistance trend line (CandleBody Closes) that bitcoin has respected time and time again for topping out the bull runs at the candlebody closes. The red curved 11 year Resistance trend line we did cross under, and we have to cross back above that and the falling channel descending (unconfirmed) trend line, we would also be looking to break back above the box outlined. ALL AT THE $60k PRICE LEVEL. I guess its a good ting that the measured move for this breakout, would be $62k-$64k which would be more than enough distance to be able to clear out $60k resistance and close the daily candle above the $60k price level. Here is the strategy that I am going with here: Already opened a high risk yet high reward trade that i would not suggest that you make unless you know what you are doing. I opened a Long @$57.6k just as we broke the first descending trend line within our falling wedge/channel. For Anyone else: IF we break $60k today with a daily candle close above; Opt1) Place Long upon the breakout of $60k. Price target is $62.5k - $64k. Close Long within the price target range. Place New Limit Long Positions within the $60.5k and the $62.5k range and when the price action comes back to retest around the $60k level your new orders would fill. Then the new price target from there would be $73k-$74k Opt2) Upon breakout of $60k and we see that the trend is finishing its measured move up to about $62.5k-$64k, place your long positions in the range of $60.5k-$62.5k. Wait for your orders to fill upon the retest of around $60k A piece of knowledge for these options; if we go to $64k on the measured move, then you would want to look for $62k to be the retest. If the $62.5k point is the measured move then look for it to retest around $60k. The market maker psychology play that would be available on this one is to break $60k, then possibly wick back below as a fake out and after test the $60k as support immediately. Then We would look for a move up to $63.5k and then down to $62.5k (since people are expecting the $64k and $62k as landmark points of support and resistance). And then after the quick test of $62.5k area we would look for the break upward past the ATH at $69.9k and look for a top around $74k before re-testing the $70k level as support on top of the previous ATH. IF FOR ANY REASON WE CANNOT BREAK ABOVE AND CLOSE A DAILY CANDLE ABOVE $60k WAIT ON THE SIDELINES FOR THE NEXT PROPER RISK:REWARD TRADE SETUP, IF YOU DECIDED TO ACCOMPANY ME ON THE VERY RISKY TRADE, YOUR STOPP LOSS IS AT $55.5k and $54.8k
INDEX:BTCUSDLong
by Gamblers_Paradise
2
Bitcoin Analysis and Market Movement Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ Let us start looking at the data starting from July 21, 2021, we are able to notice that the market is moving in phases, The first phase start on July 21 and ended on September 28 : The market started getting some great momentum and increase in volume, and the value of bitcoin started increasing and jumped from the 29000 range to the 50000 levels before dropping back down and hitting 38000. After that, the market seems to move in a side-way movement for a short time period to catch some breath before the second push which happened on The First of October and it's still going on today where the market seems to be catching a breath again before another push. The price started gaining more momentum and volume again on Oct 1, and the market was able to push from the 39000 level all the way to 68000 zones before dropping down and reaching the middle 50000 range. by using the same patterns on the screen and checking out Technical Indicators we notice that the market seems to be getting ready for another push soon that will lead the BTC price above the 80000 level and this phase could last up to the end of January 2022. Technical Indicators on a Weekly Chart shows : 1) The market is only below the 5 MA and EMA (Short-Term Bearish movement) But still above the 10 20 50 100 and 200 MA and EMA (Bullish Long-Term Trend). 2) The RSI is at 60.723 showing Great Strength in the market. 3) The MACD is above the 0 line indicating a Bullish market with a positive crossover between the MACD line and the Signal line. 4) The ADX is at 18.23 near the Trending phase, With a positive crossover between the DI+ (25.56) and DI- (17.88) Support & Resistance points : support Resistance 1) 54775 1) 65470 2) 49846 2) 71234 3) 44081 3) 76164 Fundamental point of view : We notice a lot of news that allows bitcoin to grow even more this year some of them are : 1) El Salvador making Bitcoin Legal Tender, And building Schools, Hospitals and started working om new City called Bitcoin City with 0 Taxes (except VAT TAX) 2) A lot of people starting to receive their Salary in bitcoin, including Mayors from different States in the USA, and a lot of Public Figures are doing the same. 3) Bitcoin Miners are starting to build Energy sources to help power the miners and the city where they are located. 4) Introducing the First Bitcoin ETF. 5) Highly anticipated Bitcoin upgrade got activated(Taproot) . . . . This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
Long
by GabiDahduh
6
BTC educational EWHello everyone. I know we are all fearing a drop, bear market etc...However, I am here to tell you that we are bullish, so be calm and take some time off until things start moving again. Although I am receiving messages full of hate and criticism, I am still strongly bullish, and I will perpetuate my belief until proven otherwise. Here is an educational chart to show you some of my knowledge applied thoroughly to the chart. When I look at the chart, I base my first analysis using Elliott Wave Theory, and then I combine a long list of techniques, as you can appreciate from all my previous ideas. This can be confusing as many traders use simple strategies such as MA, Divergences, S/R etc. However, my philosophy is that markets are not simple, and they are the result of many intrinsic small actions, psychology etc. So I use as many techniques as possible to capture the different actions at any one time. Here I am laying out the most valuable technique of all. Elliott Wave Theory. The chart is self-explanatory with the comments. If you have any questions, please feel free to comment. I was thinking to do a live stream soon explaining some techniques, and I would like your input. Please comment below if you would like me to do a live stream and let me know on which technique you would like me to do it. FOLLOW ME, SHARE, LIKE AND COMMENT.
Long
by CFcryptoTA
2
DIVERGENCE SPOTTED ON BTC - What this could mean and more!Hello Traders, Let's jump right into it. Weekly timeframe (left chart): - Bearish arguments - RSI and MACD both showing classic bearish divergence to the price, as seen from the green and red lines. RSI below bullish control zone. MACD looks to be swinging negative in the next few weeks. Falling volume with increase in price in last few months - may indicate weakness in uptrend. - Counter-arguments - Price is still above steep orange support trendline, trend may continue upwards if it can break 61000 and hold Price is still above 50 and 200 MA, and 50MA above 200MA. --- Drawing conclusions --- We may already be seeing the bearish divergence play out in the last two weeks, but since this is a weekly chart and not a daily or 4hr, we may see further continuation to the downside due to the fact that this divergence has been building up for the better part of 9 months. If the price manages to break below the orange trendline and/or critical support line at 52000, we could be in for a 6+ month downtrend/correction. Given the nature of this market, it may be a sharp and swift correction rather than a drawn out one, but keep an eye out for a short opportunity if we break below these critical levels. Targets to consider in such a trade set up include the 50MA, 40000 psychological support (not sure how strong this one is), and the golden retrace at ~28k. 4 hour timeframe (right chart): - Bullish arguments - Classic bullish divergence on RSI and MACD as shown by the green and red lines. RSI above bearish control zone. - Counter-arguments - 50MA below 200MA, price is below both. --- Drawing conclusions --- While a downtrend seems to be happening on this shorter timeframe, a short reversal to the upside may happen since we have a strong argument for bullish divergence. 61k may be tested first before we see a true downtrend. Arguments for why a large downtrend is likely to occur is explained above. An aggressive short could be taken at 61k if the price is to make a short term rebound with stop-losses at ATH or 64k. Concluding thoughts: There are two scenarios where I would enter a short here. 1) Price hits 61k from 4hr bullish divergence and I see signs of weakness thereafter on the 4hr. 2) Price drops below the orange trendline and the weekly MACD is confirmed to be swinging negative. As for the exits in these scenarios, I would not be targeting anything lower than 28k, and I would be scaling out at critical price points on the weekly timeframe. Since I am a retail position trader, I have the luxury of not making trades, unlike some fund managers who must take trades to reach a performance quota. Due to this luxury, I will be waiting patiently for an opportunity to present itself on BTC. Finally, if you're new to this space and FOMOing hard: Don't panic buy right now lol.
KRAKEN:BTCUSDShort
by dysonring2050
1