Btc!
R2F Weekly Analysis - 10th November 2024 (ICT Concepts)Welcome to another R2F Weekly Market Analysis using ICT Concepts along with my own discoveries. I'm going to go through various assets/markets, and give a real-time view of how I perform my analysis on the weekends. I'll give my take on what has been happening, and what I'm expecting in either the coming days, weeks, or months. Without further ado, let's get into it!
This video will be a special "The Leap" edition.
- R2F
Bitcoin Roadmap==>>Correction SignsBitcoin ( BINANCE:BTCUSDT )is moving near the Upper line of the Ascending Channel and Potential Reversal Zone(PRZ) , which acts as a Resistance line .
According to the Elliott wave theory , Bitcoin has completed main wave 5 with the help of Ending Diagonal , and we should wait for Corrective Waves .
Note ( Education ): The Ending Diagonal is the Rising Wedge Pattern in terms of Classic Technical Analysis .
Also, Regular Divergence(RD-) between Consecutive Peaks in MACD and RSI and Volume Indicators .
Note : Since trading volume is usually low on Saturdays and Sundays , we can expect the main corrective movement to happen at the beginning of the next week .
I expect Bitcoin to have a corrective trend in the coming week , considering that there are attractive volumes for liquidating long positions at lower prices , as well as the technical analysis that I talked about above. Of course, from November 13 to November 15, important indexes will be released from the USA(Core CPI m/m, CPI m/m, CPI y/y, Core PPI m/m, PPI m/m, Unemployment Claims, Core Retail Sales m/m, Retail Sales m/m) , which can impact Bitcoin's main trend .
⚠️Note: We can expect more pumps if Bitcoin breaks the Potential Reversal Zone(PRZ) ⚠️
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
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$BTC - We'll grow on the shorters 79-84k nov-decWe are approaching the liquidity zone, as I have shown in previous posts.
Blue dotted lines indicate the levels where the decision will be made for longing; I do not expect a substantial correction.
Waiting for new ATH 79-84k in November -December
And 100k + in March
Domination goes to 60%
In this case, altcoins are not going to do well
Best regards EXCAVO
BTC bull(ish) chart 28th of November 2022Hi guys,
This is my latest BTC chart with the price projection going into next year. I reviewed my previous ones, always seem to get the price levels right (tops/bottoms), but rarely the time needed for the moves. So take the time period with a grain of salt.
In my opinion the C wave of the correction is at the bottom. We should be seeing price move up in the following weeks. I had an initial calculation that suggested the 23rd of March as Ann important date, seems that after the FTX debacle it's going to stretch longer into the summer of 2023.
The price target for the next move up sits in the 84k area. I will be updating this chart upon further development.
RSI weekly potential bull div, Stoch RSI "almost" oversold, EW count - 5 waves, Fibo 0.9 retracement from previous 2020 breakout.
Invalidation : weekly close under 13.800$
Happy hunting !
$BTC the bull run is NOT finished, reminder to stop FUDIn another idea (check my idea), I had forecasted a -50% dump of CRYPTOCAP:BTC , and we are close. I also highlighted that on a weekly timeframe, CRYPTOCAP:BTC had been oversold due to ETF hype, which forced CRYPTOCAP:BTC to consolidate mid-bull market to reset the MACD and RSI to lower levels, just like in 2021.
Here was the idea:
Additionally, this idea perfectly forecasted what is happening now:
I also correctly predicted that all these CRYPTOCAP:BTC owned by external actors would have to be sold on exchanges to reach the market, negatively impacting the price action.
Now, here is an updated chart to my previous idea that accurately forecasted the current situation.
What is coming next?
Check the MACD. On the weekly timeframe, we are close to the same situation as in 2021 when CRYPTOCAP:BTC bounced back to go parabolic. The yellow line shows the level where the MACD could cross and reverse to finish this bull run successfully.
In the worst-case scenario, we might continue the downtrend pressure while the RSI and MACD reset lower.
This pressure counterbalances the bull run and is the reason why CRYPTOCAP:BTC does not have the energy necessary to pass over the top resistance and is ranging.
This range will continue until the weekly MACD crosses over and the RSI reaches the oversold territory.
The good news is that the more time it takes, the lower the MACD and RSI will be, the longer the final bull run will become, and the higher CRYPTOCAP:BTC will go.
MT.Gox, Germans, Genesis, and Grayscale have done their dumping, so the sky is getting clearer, and the sun is starting to shine.
I do not think this bull run will be canceled; there is no way it can happen. It can be delayed by external factors, but the charts are clear and clean. We are moving forward in a massive way as soon as CRYPTOCAP:BTC gets oversold.
From the chart, a true reversal in the trend should happen between 2 to 10 weeks.
Be patient, do not panic, do not sell your coins; your portfolio will turn back to green soon. DYOR.
Things to watch out for when buying altcoins
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(BTC.D 1M chart)
If BTC dominance falls below 55.01 and remains or shows a downward trend, funds are expected to start moving toward altcoins.
This movement of funds will eventually lead to an upward trend in altcoins.
(USDT.D 1M chart)
I think the coin market is on an upward trend because USDT dominance fell below 4.97.
Therefore, the point to watch is whether USDT dominance is maintained below 4.97 or shows a downward trend.
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(BTCUSDT 1D chart)
If the flow of funds moves to altcoins, the movement of BTC and the movement of altcoins are likely to move differently.
Therefore, unless BTC passes an important support and resistance point, the movement of BTC is likely to have a large impact on altcoins.
Therefore, if BTC dominance falls below 55.01, I think it is better to trade altcoins than BTC.
Since the rise in BTC price is likely to lead to the rise of altcoins, what we need to pay close attention to is the support and resistance points when BTC falls.
Based on the current price position, the most important support and resistance point is 71280.01.
Before that, since the 72344.74 point is important on the 1D chart, the 71280.01-72344.74 section can be seen as an important support and resistance section.
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(1h chart)
However, since there is a possibility of volatility when BTC touches the 5EMA of the 1D chart, the movement at this time may affect altcoins.
Also, there is a possibility of volatility when touching the M-Signal indicator of the 1D, 1W, and 1M charts, so caution is required when trading.
Currently, the 5EMA of the 1D chart is passing around 74K, so it is expected to touch the 5EMA of the 1D chart soon.
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When coins (tokens) rise, most of them show a stepwise upward trend while touching HA-High or BW (100).
Even if the stepwise upward trend continues, you need to be careful when it falls below the MS-Signal (M-Signal on 1D, 1W, 1M charts) indicator.
The reason is that there is a possibility of a downward trend.
Therefore, you should always think about how to respond when it falls below the MS-Signal indicator.
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The basic chart for trading is the 1D chart.
Therefore, you must check the movement of the 1D chart before starting a trade.
Therefore, you can mark the support and resistance points on the 1M, 1W, and 1D charts and check the movement at those support and resistance points on your trading time frame chart.
(1h chart)
Let's take a 1h chart as an example.
When the BW(100) line is created on the 1h chart, the price will fall.
However, you can see how much it will fall, but usually the decline will stop when it touches the HA-High, 5EMA on the 1D chart, and MS-Signal (M-Signal on the 1D, 1W, 1M charts) indicators.
At this time, since there is a high possibility that a trend will be formed due to the volatility that occurs, caution is required when this movement is seen.
Therefore, you can trade by buying when the price falls and breaks through the indicators listed above.
In most cases, buying when it breaks through the BW(100) upward is the last chance to ride the trend.
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When it moves sideways near the HA-HIgh indicator, a box section is formed.
When it breaks out of the box section formed in this way, it can be seen as the time when the trend is formed.
Therefore, it is necessary to consider whether to trade within the box section of the HA-High indicator.
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As long as the price of BTC does not fall below the important support and resistance points, you can make a profit by buying and waiting when the price of the altcoin falls.
Therefore, it is recommended not to suffer by buying altcoins that have risen too much.
Since altcoins that have risen too much can lead to a larger rise, it is recommended to buy when these altcoins make a downward candle on the 1D chart.
However, when buying, do not forget to check whether there is support near the support and resistance points drawn on the 1M, 1W, and 1D charts.
If you bought at a point where there is no support and resistance point drawn on the 1M, 1W, and 1D Tsuta, a short and quick response may be required.
If you buy like this, you should think about whether to sell in installments when BW(100) is generated on the 1h chart (the time frame chart you mainly see and trade) and buy some more when it goes down and then goes up.
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If BW(0) or HA-Low indicators are generated and show support, it is time to buy.
You should also not forget this.
Usually, when BW(0) is generated, it is likely that it is already in an upward state.
Therefore, you need to think about how to buy when it goes up with a split transaction and place a buy order at the point where the BW(0) point is generated.
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Have a good time.
Thank you.
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- Big picture
It is expected that a full-scale uptrend will start when it goes up by more than 29K.
The section that is expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are points where resistance is likely to occur in the future.
We need to check if these points can be broken upward.
We need to check the movement when this section is touched because I think a new trend can be created in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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primary near term target at 105-109k level on BTCBitcoin now fully in bullish breakout sequence on monthly and weekly timeframe.
Aiming for advancement beyond 100k to 105-109k zone before additional possible consolidation. Would not be a reason to sell but rather to add more!
RISK IS NOW SOLELY TO THE UPSIDE imo.
After we clear above 125k on weekly and monthly, I don't think it'll be long at all until it runs to 1 million.
80k - 82k might be the next stop for BTC!Hello TradingView Family / Fellow Traders,
📦 From a macro perspective, BTC has been trading within the large channel highlighted in orange.
The upper boundary of the channel intersects with the 80k round-number zone, which could serve as a strong area for the bears to initiate a correction.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Alikze »» ETH | Ascending channel🔍 Technical analysis: Ascending channel and corner alcove formation in the green support box area
- Continuing the analysis of the previous post , the Ethereum currency faced selling pressure after reaching the daily and weekly supply range.
- After the formation of a Double Top pattern, it has had a zigzag correction to the green box range.
- It is currently moving in an ascending channel, where the recent correction has intersected with the bottom of the channel and the green box.
- Therefore, I expect it to grow up to Fibo 0.78 and the dynamic trigger after the swing breaks and creates a higher LH.
- In addition, a corner pattern with higher bottoms of the ascending channel is also formed.
💎 Alternative scenario: If it fails to break the swing and does not stabilize above it, and also sharply corrects towards the green box, it is most likely that it will break it and continue correcting towards the Buyer Zone.
💎 Probable scenario: Currently, the probable scenario is the bullish scenario according to the bullish channel and also the corner pattern pattern. Therefore, after reaching the goal, the dynamic update will be done again.
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BINANCE:ETHUSDT
BTC DOMINANCE After a Trump victory the markets are booming, a new BTC ATH pushed bitcoin dominance to new local highs of 60.6%. Now we've seen a decent retracement on the daily candle and BTC is still in price discovery. This indicates to me that we have an altcoin resurgence on our hands, returning confidence in crypto and the green light for crypto support by America is a very important to this current rally.
I could see BTC dominance dropping to 59.5% before any continuation (bottom of the trend channel) higher and that's not particularly from a BTC selloff although that is possible as a SFP, but more likely is just BTC staying where it is and altcoins making up some ground.
RSI has dropped out of the oversold zone with this daily candle, a cool off is eventually inevitable as long as price stays flat while RSI cools it's very bullish.
A lot of that altcoin move needs to be from ETH imo, with BTC @ ATH Ethereum is 72% away from ATH... A massive difference and one that should close up going into Q1 2025.
The standard process for a crypto bullmarket is:
BTC --> ETH --> LARGE CAPS
--> MID CAPS --> SMALL CAPS
So far we're clearly still in the BTC phase, keeping a close eye on the ETHBTC chart to see if the momentum shifts towards Ethereum but that doesn't seem likely until next year at the earliest.
Alikze »» ENJ | Descending channel - 4H🔍 Technical analysis: Wave 3 or C bullish scenario - 4H
- In the 4-hour time frame, according to the previous analysis , after the support in the range of 0.1465, it faced demand, which was able to grow to the middle of the channel.
- It faced selling pressure in the middle of the channel, which led to a zigzag correction to the 0.122 range.
- It is currently moving in a descending channel, which is at the ceiling of the channel and there is also a supply zone.
- Therefore, in case of selling pressure, it can face support in the specified limits or green box and lead to a price growth up to the specified supply area.
💎 In addition, it should be noted that if the green box is broken, the bullish scenario is validated and can have another corrective leg.
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BINANCE:ENJUSDT
#BITCOIN is down today BUT #FDIG suggests upsidefor the #crypto space
as are the #BTC miners which are performing admirably.
So we have a disconnect going on between wall st and the overall crypto space which is non euphoric and has completely reset sentiment since March.
My view this gets resolved to the upside , follow the smart money.
#HVF
@TheCryptoSniper