Blxusd
BTC/USD (Bullish Weekly Candle?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-The candle is about to close in 4 hours
-This will be its highest weekly candle above ATH
-Can we get a retest back to 20k dollars previous resistance?
-I don't know but many traders are waiting in the sideline
-It is a really interesting 1st quarter in 2021 for Bitcoin
-A confirmation of the Bull market has given a lot of opportunities
-If you are looking for long term potential entries
-Make sure to plot key levels of interest
-And look at the weekly and monthly timeframes only
-To reduce the market noise and analyze the potential bigger trend
⚠️Please always read the description⚠️
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BTC/USD (Bullish or Bearish Small Triangle?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-Temporary top is found for Bitcoin today around 23.3k dollars
-Also, local support is being established above 50ma in 1 hour time period
-Bitcoin might be forming a small triangle, potentially descending?
-The support area is only tested twice, will it bounce again for the 3rd test?
-Or it will finally break the trendline resistance above?
-We will see the answer within 24 hours
-So please be ready and follow your trading plan as always
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BTC/USD (Testing Midterm Trendline Resistance)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-Bitcoin is now testing its mid-term trendline resistance
-Plus this zone is a confluence of Fib ext 1.618 level
-I'm not saying BTC will drop now but only looking at a possible profit-taking zone
-Bitcoin All-Time High is all over the internet news
-Extreme FOMO can easily pierce through this level of interest
-Let us see if there will be a price reaction at this level
-If no sign of weakness, I think it can overcome the 24k dollars and above
⚠️Please always read the description⚠️
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BTC/USD (New ATH > New Price Discovery?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-New All-Time High for Bitcoin today with strong volume
-Many short position orders has been liquidated or stopped out
-After breaking its recent top around 19.9k dollars
-Since this is a new high, potential price discovery will happen
-I have used the Fib reverse extension to potentially see the next minor resistance
-Currently, BTC touches the 1.414 Fib resistance area up to the 1.618 level
-FOMO might enter the market really soon so I don't recommend buying at market price
-If you are looking for a buying opportunity, it is not today
-Please wait for a proper market structure with a good to risk: reward ratio
-Do not follow the crowd, plan your trade and execute properly
-Congrats again for hitting new ATH, BTC has been extremely strong up to date
⚠️Please always read the description⚠️
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Trading Involves High Risk ⚠️
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BTC/USD (Flat Resistance Area?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-Bitcoin is back at its previous resistance zone around 19.6k dollars
-We can see this area is a flat rejection point or Ascending Triangle pattern
-Make or break for Bitcoin otherwise it will drop back to the trendline support
-And things might not go well once back in the bearish territory
-So please always prepare for both scenarios
⚠️Please always read the description⚠️
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BTC/USD (Found Support?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-Bitcoin did a good job finding support at 0.618 Fib level
-It is now trading above the 0.5 Fib of a potential new bigger box
-If BTC can maintain within this bullish zone in the next few weeks
-The probabilities of another move higher will increase
-For now, the Bulls are still alive in the short term
-No major red flag yet, we will wait for further development
⚠️Please always read the description⚠️
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BITCOIN GOES WHERE IT PLEASES2021 AND BEYOND...JUST A REMINDER FOR ALL OF THOSE BETTING THEIR HOUSE AND ENTIRE SAVINGS ON BITCOIN...NOTHING IS 100% AND I DARESAY ANYTHING CAN HAPPEN AT THIS MOMENT. IN FACT IT IS LIKELY IT WILL DO THE OPPOSITE OF THE HERD.
BITCOIN IS JUST A CRYPTOCURRENCY RIGHT NOW, NO GOVERNMENT ADOPTION NOT USED AS A CURRENCY YET OTHER THAN FOR SPECULATIONS AND GET RICH QUICK SCHEMES. HOWEVER THERE IS LARGE NUMBER OF RICH FOLKS BUYING IT OR THATS WHAT I HEARD ATLEAST I HAVENT SEEN ANY PROOF.
THERE IS POSSIBLITY TO BREAK 20K AND TRIGGER ULTIMATE FOMO AND RALLY TO 21-26K AND THEN BIG DUMP AFTERWARDS...JUST A THEORY.
BTC/USD (New All-Time High?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-Bitcoin hits an All-Time High today after breaking its recent top
-It is not a strong breakout given the fact it is already a 22% increase from swing support
-We have local support of around 18.9k-18.6k dollars
-This is not a key level but a good area if BTC can hold for the next few days
-My only advice is not to FOMO and even short the market
-Because there is no sign of weakness and buying strength is extremely high
-This is not a buying opportunity either
-I'm talking about a swing trading idea (Not scalp or long term)
-Please wait at a good area for potential rebuy
-Provided there is reversal sign
-Or if looking for a counter-trend, wait for a proper break of support
-Before opening a sell position
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BTC/USD (Next Target 20k Dollars?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-BTC still respecting the 50ma dynamic support area on the 4H time period
-This is Bullish and confirms a strong uptrend movement
-New Higher High is set again above 19k dollars
-If Bitcoin can sustain above previous resistance for the next 24-48 hours
-The next potential upside target is 20k dollars or the new All-Time High
-Things are getting really interesting
-We might experience an extreme FOMO if 20k broken upwards
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BTC/USD (4H TF 50ma Dynamic Support Bounce up?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-My previous idea on the 1H time period has failed for Bitcoin
-We zoom out to the 4H time frame to look for dynamic areas or key support
-We can see BTC respected the 50ma 4H dynamic support at least 4 times
-If history will repeat itself, Bitcoin might do the same action
-This idea will not work 100% all the time
-So please make sure you have a proper stop loss location
-If in case Bitcoin decided to break the 50ma zone
-Take note also of the middle Fib resistance 0.5
-This level must be broken upward if the Bulls wants to continue higher
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BTC/USD (17.3k Dollars: Strong Support?)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-Buyers are aggressively bought the dip for the 3rd time
-We can see a Bullish rejection candle at a 17.3k dollar area
-BTC manages to get above the 0.5 Fib level which is a good sign of strength
-I'm expecting Bitcoin to consolidate in the next 24-48 hours
-If we want BTC to continue higher, it must not go below 17.6k to paint a strong consolidation
-But always be careful and have a stop loss in place in case of unexpected movement
-Let us see if the Altcoin market can recover a little during this minor sideways trading
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BTC/USDT (17k Dollars Next Target?)💎Technical Analysis Summary💎
BINANCE: BTCUSDT
-Bitcoin found support at previous resistance on the 2nd retest
-The price confirmed support and may go higher up to reverse Fib resistance 2.0
-Using the reverse Fib extension during the 1st consolidation range around 15k dollars
-We can say the 17k dollar range is the next strong resistance area
-I don't recommend shorting Bitcoin even at the resistance level
-Without any signs of weakness because the price can go higher as the Buyers are in control
-Not a good time to buy as well because the risk to reward ratio is not good
-You don't have a proper stop loss location if you will go to Long
-I suggest waiting for a proper market structure before planing your next trade (Long or Short)
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BTC/USD (Retesting Previous Resistance)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-Bitcoin is likely forming a small triangle near a 16k area
-Currently, it is trading above the previous resistance zone last November 6-9 trading
-We can see the 50ma 4hr dynamic support is approaching the price
-This will help BTC to consolidate in the short term
-The market trend is up so priority trade is Buy
-Soon we will have a breakout direction
-let's hope the Altcoin market will have time to recover
-During Bitcoin sideways movement in the coming few days
A big Thanks for donating 💰 via Tradingview coins this week to SattarKHAN 🙏🎉
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Trading Involves High Risk ⚠️
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BTC/USD (Pullback to Previous Resistance)💎Technical Analysis Summary💎
BITSTAMP: BTCUSD
-After the recent breakout above 16k dollars
-Bitcoin found strong resistance at the 16.5k zone
-The price is now pulling back to previous resistance
-This is a good pullback area if BTC can flip to new support
-It is also crucial for Bitcoin because this will decide its next move
-If you are taking this pullback opportunity to rebuy
-Please make sure you have a proper stop loss location
-In case the market decided to go lower and invalidating the Bullish bias
A big Thanks for donating 💰 via Tradingview coins this week to SattarKHAN 🙏🎉
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Trading Involves High Risk ⚠️
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BTC/USDT (Holding 16k Dollars)💎Technical Analysis Summary💎
BINANCE: BTCUSDT
-Bitcoin broke its local resistance area at 15.8k dollars
-The price is now trading above 16k dollars
-This is a good sign in the short term
-If the Bulls can maintain above resistance for the next few hours
-There is a chance of another rally up to 17k dollars
-Be cautious if you are buying at market price
-Always have a stop loss in case of a strong downside correction
A big Thanks for donating 💰 via Tradingview coins this week to SattarKHAN 🙏🎉
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Regression lines suggest the BTC top is around 17k for 2020Moore's law has tought us that historic evolutionary patterns are happening 10 times faster after each new technological or scientific breakthrough when it hits the mainstream public worldwide. This breakthrough is then followed by a parabolic and very bubbly event, only to face a dozens month old bloody correction, while finally allowing the new market to mature as it becomes adopted and globally regulated. The end result causes yesterday's all time highs to become tomorrow's new bottoms. But what history has shown is that only a few select will rank above everything else and this will only take place when the potential promise of a strong vision is fulfilled on a global scale changing humanity's habits in a way we never thought possible.
The last time a transition like the one I'm describing above happened was between 1984 and 2020. This has been a time of great change that started when Nasdaq introduced the internet to the world as early as the 1980s. When the Soviet Union was falling and the Berlin wall fell a new world was being reshaped thanks to the start of the internet era. These highlights preceded another historic event 2 decades later. Of course, we've all heard about 9/11 and how it paralized the entire world in 2001. After the dust settled, it took the internet market almost 6 years to hit the peak of a sucker's relief rally and mark the end of the dotcom bubble burst. The parabolic unexpected rise that the internet bubble displayed the first time, was something that is still unbelievable to this day. Even though denial and disbelief are a thing of the past, we can still wonder what those so called experts have to say today when asked if our computer pundits lacked all common sense back in the day? Well look at how unimaginably far "electronic wonderland" has come. The internet did indeed replace traditional systems used by banks and governments in the 1990s. Now another global event is about to close a chapter that started as early as 2008 when the global recession took place. We're seeing one after another industrial revolution, each time happening exponentially faster and in a more impactful way than the previous one. The world is being taken by storm yet again, as cryptocurrencies more than outperformed in the last quarter of 2017 and in the early days of 2018. In contrast and just like the dotcom bubble peak back in 2001, both astonishing events preceded a very bloody correction in the 2 years that followed. Both events witnessed by today's freelancer and entrepreneurial millenials, saw Nasdaq find the true bottom around the fourth quarter of 2002 followed by a crystal clear relief sucker's rally that lasted 6 years up until 2007 soon ensued by a higher bottom to spike a much much bigger rally that continues today.
Now that the cryptocurrency market is maturing, we can see history in the making as bitcoin did indeed reach a massive technological breakthrough at the end of 2017 followed by a 2 year bloody correction. This time though, moore's law didn't disappoint as the bitcoin market printed a 6 month sucker's relief rally ensued by a higher bottom just a few short months later, signaling an extended bear market and a slower future rally, a more progressive but healthier bullrun between next 2022 and 2023, if not earlier.
When comparing 2017 to the doctom bubble, it seems a massive new technology explosion took place 15 times faster than the euphoria experienced in 2001.
When looking at bitcoin's algorithmic hashrate, it seems Q2 of 2019 was a sucker's rally, similar to the one experienced in 2015.
Contrasting today's massive performance on the stocks that survived 2001's doctom bubble after reaching 98% losses from ATHs followed by a slow rise amidst regulation and adoption,
the crypto market is a trillionaire market in the making and the trend should continue as follows:
2013 has been very similar to 2017 in the crypto market.
2014 was very similar to 2018 where a gigantic bloody correction burst the bubble yet again.
2015 saw a sucker's rally signaling a bottom and a future rally potential, just like it happened early January of 2019
2016 Bitcoin had it's second halving, taking it from $185 early January 2015 bottom to $780 June 2016.
As miner difficulty increases and bitcoin becomes more scarce, covid-19 impacts every small business including those in the crypto industry causing a massive miner capitulation. Moreover, the block reward will be reduced from 12.5 BTC to 6.25 BTC .
With a pool of 15,700 miners left from hundreds of thousands will put the price of bitcoin anywhere from 16k to 53k around the date of the next bitcoin halving till mid 2023.
( BTC Price: $7000 x 6.25 = $43.750).
Institutional Trading is Heating Up
There is currently only a bit more than $2B in crypto. There was a large study done by JPMorgan, which found out that every $1B that goes into crypto increases the market cap by $50B.
So, this means that the actual FIAT money that went into crypto over the last few years is only 2% of what the total amount of cryptos are worth and that there is only $2.2B in crypto total right now, because $2.2B * 50 =$110B, that’s what all crypto is currently worth.
At the height of the last bull run, there were around $20B in crypto.
Say Bitcoin reaches a $30,000 price and a $240B market cap, we would probably be at a total $1T market cap.
There is only $20B entering crypto needed this year, since every $1B that enters crypto, increases the market cap by $50B.
BAKKT, Fidelity and ETFs could easily add $10B to this, which would make the crypto market increase by 5x alone.
Add small investors, Bitcoin whales and we are at $20B and a $1T total market cap again like in 2017, where we topped out at $800B total crypto market cap.
As 2020 arrived with a big bang, we see a strong indicator of what's to come in this exciting brave new orwellian and huxle'y's world, there's a big green light that the cryptocurrency and blockchain market is going to shock the world 10 times faster than the internet 2.0 market has to date! Nevertheless and regardless of the current Pandemic, bitcoin is still following a perfect trace of regressive models run by bots on the biggest crypto exchanges. 16k to 17k is the top for now I'm afraid.