Bitcoinusdt
BTC: Pullback in UptrendTrade setup : Price is in an Uptrend. Price broke above SWB:69K -$70 resistance zone, making yet another new all-time-high (ATH) of $73,780, but failed to hold as investors chose to take some profit. There was also a bearish RSI Divergence as price made a Higher High but RSI made a Lower High, which implies less momentum strength on the most recent upswing. Now we look for the right entry opportunity in Uptrend.
We wait for price to either 1) break back above $70K to signal continuation of uptrend, with +14% upside potential to $79K next, or 2) pull back near GETTEX:59K support for another swing trade entry in Uptrend with +15% upside potential back to $70K.
The approvals of 10 Bitcoin Spot ETFs are working in BTC’s favor. Wanna know which altcoins will benefit from BTC and ETH rise? Read our research report.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $56K - GETTEX:59K , then $50K. The nearest Resistance Zone is SWB:69K - $70K, then $79K.
We expect a 20% correction - then continue to uptrend !Trading Setup:
A Trading Signal is seen in the BTCUSDT Bitcoin (15m) (Futures)
Traders can open their Sell Trades NOW
⬇️ Sell now or sell on 68690.0
⭕️SL @ 69750.0
🔵TP1 @ 64280.0
🔵TP2 @ 62015.0
🔵TP3 @ 58325.0
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
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BTCUSD road to 75K$Bitcoin perform a great bullish with Bullish pennant and Symmertical triangle pattern.
If this pattern broken up, we have 2 target :
$66365 as symmetrical triangle profit projection and
$75508 as Bullish pennant profit projection
If this pattern broken down, we have $57487 - $56029 as fibonacci support to hold bearish movement.
Happy trading, Good luck
BTC: Pullback in UptrendTrade setup : Price is in an Uptrend. First attempt to break above SWB:69K -$70 has failed. That’s an all-time-high (ATH), which is a significant resistance area. Price got very overbought (RSI > 80) and was rejected, pulling back as low as $59K. It’s likely to pause here and consolidate around this area, before resuming its uptrend.
Now we wait for price to either 1) break above $70K to signal continuation of uptrend, with upside to $79K-$80K next, or 2) pull back near $60K support for another swing trade entry in Uptrend. The approvals of 10 Bitcoin Spot ETFs are working in BTC’s favor. Wanna know which altcoins will benefit from BTC and ETH rise? Read our research report.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance : Nearest Support Zone is $56K - GETTEX:59K , then $50K. The nearest Resistance Zone is SWB:69K - $70K, then $79K.
I think we're going straight to 80k!Traders,
The demand for BTC from these ETFs has been insane. The last I read on this about 2 weeks ago was that ETFs were demanding over 12x what miners could supply. And this is still pre-halving. Add to this the facts that only 24% of BTC remains liquid and there is continued institutional demand in other countries opening up and you can quickly understand from some simple math that Bitcoin is in the beginning stages of a massive supply shock.
Even multi-year resistance levels are blown up like they are nothing. I honestly have not seen technicals rekt to the degree they are recently. Fundamentals far outweigh technicals at this point. However, we are still going to chart, observe and denote technicals where they may be of use to support current fundamentals.
In this case, I wanted to demonstrate what the technicals are showing more recently. We have here an inverse H&S pattern. Our target ends up being 80k which intersects exactly with another ascending TL I have mapped here. Honestly, I think we could go straight to 80k without any sort of pullback at this point.
We did not pullback at our multi-year support/resistance from 2019. If we were going to pullback, that is where we might have done it. Another point of possible pullback is 70k. We're almost there rn and there is no signs that we are going to stop. I think 80k is in the cards and we didn't even get a pullback and retest of our 48k neckline! I am absolutely amazed by this. Then again, I have never really witnessed a supply shock in real time.
Stewdamus
BTC Targets in 2024 & 2025As per fib tool, we can assume that BTC might hit these fib levels in this year or next year.
1.618 (102075.56)
2.618 (155599.53)
3.618 (209123.50)
Disclaimer: The information and analysis provided in this publication are for educational purposes only and should not be construed as financial advice or recommendations to buy, sell, or hold any securities. The author and TradingView are not responsible for any investment decisions made based on the content presented herein. Always consult a financial professional before making any investment decisions.
Bitcoin Update: The bull market has been startedBitcoin has initiated a robust uptrend since November 2022, with its current trading price nearing its previous all-time high at $61,000. At this critical juncture, two potential scenarios emerge:
Bullish Scenario: Bitcoin could breach the $60,000 to $70,000 range, potentially driven by FOMO (Fear of Missing Out), thus bypassing a retest. This trajectory could propel Bitcoin to surpass $100,000, with projected targets ranging between $154,000 to $173,000.
Bearish Scenario: Alternatively, Bitcoin may face rejection at its current level, leading to a decline towards support levels at $41,000 and $30,000. This downturn could prompt a retest of the $60,000 level.
TheKing & Time- Everything is in graph and simple.
- Check Dates range.
- Check Fibo Channels.
- Check bubbles with colors ( green, yellow and red )
- More it will take time to get out from the bear market.
- More the final price will melt some faces.
- I don't know the future.
- I know how to draw magical trends.
- Most of the time stories repeat.
- If by any luck, BTC retraces again one more time near 20k, it's a pure gift.
Happy Tr4Ding !
BTCUSD, Are we going to face 35% Correction ?! (Local View)BTCUSD, Are we going to face 35% Correction ?! (Local View)
Let's take a look at local movements on INDEX:BTCUSD .
Since last post Bitcoin moved in our favor, reached 38,500$.
We have a strong bounce here, which is heading towards upper 40s as long as daily close was above big red candle.
There is a probability, that Bitcoin is going to draw lower high which can be anywhere from 38.2 to 61.8 (Golden Pocket) Fib. In confluence we have several magnets at this range.
Possible stop losses around 43,500$
Fair Value Gap around 44,500$. Possible liquidations Across top 3 exchanges (Binance, OKX, Bybit) totaling around 4.0 Bln. USD. (This number covers last 30 Days Data)
Hence we should take into consideration, that huge amount of liquidity is sitting down in the previous reaccumulation zone. (Suggesting to check out Liquidity Heatmap . Putting link because I am not able to add screenshot.)
- - - - - - - - -
Next I want to mention one weird thread I bumped into on Twitter.
It’s about HTX (ex Huobi), which is owned by Justin Sun. They turned off their proof-of-reserves system, what hints about their insolvency. Onchain analysis say that they have problems with ETH holdings.
Also this is not connected to only HTX, things are being wrong with TUSD and stUSDT (Stacked USDT receipt on TRON Network).
For further details about this event please read thread from adamscochran on twitter . Hence there was around 600 Mln. USDT transfer to JustlandDao yesterday.
In the end, I want to mention, that there is no 100% accurate analysis.
We are dealing with probabilities, just with analysis we are shifting probabilities to our favor.
Best Wishes.
BTC: Approaching ResistanceTrade setup : Price is in an Uptrend. Price broke back above $45K to signal resumption of an Uptrend and is approaching our near-term target of $50K. Now we wait for price to either 1) break above $50K to signal continuation of uptrend, or 2) pull back near $45K support for a swing entry in Uptrend with upside potential back to $50K. The approvals of 10 Bitcoin Spot ETFs may finally be working in BTC’s favor. Wanna know which altcoins will benefit from BTC and ETH rise? Read our research report.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance : Nearest Support Zone is $45K (previous resistance), then $40.5K. The nearest Resistance Zone is $50K.
BTC Drop loadingI wasn't expecting the price to rise so much, but doesn't matter. As we has seen lot of times, it's squeezing some shorts. And as always, the higher the squeeze, the deeper the drop. I don't think it will broke above previous high (but i can be wrong), but what is sure is that is going to drop soon. It's clearly a bull trap, and it can go up a bit more before dropping. 41k is my main target, and invalidation will be clean break above 49k. Most important, don't long now.
TheKing Now- Despite the avalanche of FUDs made by the SEC.
- BTC still on his way.
- Like i said before, we are still in bearmarket but in a kind of pivot to witch to bullmarket.
- i spotted this inversed H&S few months already.
- Now the time is to wait.
- let's first see if this pattern is respected.
- Concerning altcoins :
- They dipped fast as BTC.Dominance reached almost 50%.
- Just the normal way.
- Time to charge more alts bags.
Stay Safe!
Happy Tr4Ding !
TheKing Summer Time- Okay, so TheKing dipped around -20%.
- For some peoples it could means panic and the end of cryptos.
- For Veterans those kinds of "mini crash" are very commons.
- We saw already harder moves in 2019 ( White Circle )
- Now those corrections are more large simply because BTC price is higher.
- Actually the situation still looking much more better than 2019-20 ( Covid )
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- i used only ichimoku on weekly Timeframe to make this analyze.
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- Like always everything is in graph.
- Basically BTC got a first big resistance around 32k$. ( Flat Cloud ).
- Next potential resistances are around 43k$ and 48k$. ( Flat Cloud ).
- For now BTC bounced on Kijun and found a support around 25k$.
- The price is staying inside the cloud so it just means for now " indecision ".
- Kijun Line ( Red ) is starting to make a flat around 25k$, it could mean " Build Support ".
- on Weekly TF, ichimoku cloud crossed bullish.
- So to get more bearish movements we need 2 confirmations at least :
1 : BTC have to dip under the red cloud.
2 : Tenkan and Kijun have to death cross ( Kijun (red line) have to go on top ).
So for now, nothing is predicting a new low but time will speak.
Happy Tr4Ding!