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BITCOIN Even Stronger Level Below 20kHi Traders, Investors & Gamblers 😃 I hope everyone is doing great this wednesday morning! A quick update after the expected loss of the previous support level for Bitcoin, once again I want to point out a very logical next support level and potential bottom scenario for Bitcoin . The 200 week SMA the most logical target for Bitcoin on a weekly closing basis all along. I've been talking about it here on @TradingView since at least February. Daily Chart: Support & Resistance Levels We have now reached a very strong support area for BTC coming from the range that Bitcoin has beentrading in in Winter 2020. I will go through all the indicators that lead me to call these current lows for Bitcoin in the beginning of the year already. Weekly Chart: 200 Week SMA & Falling Wedge: As mentioned yesterday, THE bullish scenario! Wick below the support and finish the week above the wedge support and 200w SMA 2017 $20k ATH: Right in the middle of major moving averages and Fibonacci levels we have the historic ATH from 2018. Monthly Charts: 200 Week SMA, 50 Month SMA: Pay attentio to the red circle, in the one instance where we touched the 200 week SMA but not the 50 month SMA we ended up falling short of a new ATH until we came back downand touched both moving averages. Fibonacci Retracement: The "Absolute Bottom" could lay around the.786 for BTC since we lost the .618 it would be logical to continue down to the next Fib. level and find a bounce there. As we know we have never closed a weekly candle below the 200week SMA and 50 Month SMA, but we have wicked way below on various ocasions with the last being in March 2020. I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise. As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏 Happy Trading ✌♥📈
BITSTAMP:BTCUSD
by DeFeye
2
BITCOIN and ALTs - What's next?Massive losses for altcoins, a bit more than i expected to be honest but: 28-32K is the range as we prognosed and we are now at the lower end of that (just over 28k) so maybe the market will offer us a relief rally next. In case the price of BTC runs lower than 28k we will run for the hils but that is not likely to happen... Once again: sideways is what our analysis shows for BTC, the problem is that when BTC sneezes, Altcoins get pneumonia and dIe. 🧐 June 2017 Marketcap: it will make you think coinmarketcap.com (how many of these still exist today? how many will exist in 10 years from now?) Make sure you pick some good ones and start accumulating. One Love, the FXPROFESSOR
Long
by FX_Professor
2
How To Analyze Any Chart From Scratch - Episode 5Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. Today we are going to go over a practical example on BTC, but you can apply the same logic / strategy on any instrument. Feel free to ask questions or request any instrument for the next episode. You can find the previous episodes below "Related Ideas" Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BITSTAMP:BTCUSDEducation
by TheSignalyst
41