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BTC is filling the CME Gap. Bullish or Bearish?Hello Traders, In this video, I dive deep into the current market landscape, focusing on several key aspects that are crucial for developing our trading strategies. First, we'll discuss the CME Gap and explore how this gap might influence market movements. Next, we take a closer look at the trend direction and analyze how it has evolved in recent days and what it could mean for upcoming trading opportunities. I'll show you how to identify the trend and incorporate it into your strategy. Another essential topic we'll cover is confirmations: I'll explain how to ensure that your trade is on solid ground and how to avoid unnecessary risks. Finally, I present two different trade ideas and share my expectations for these setups. You'll learn about the scenarios I envision and how I plan to respond to various market developments. Join me as we delve into chart analysis and learn how to apply this information to your own trades!
by SerenityEquity
1
Short-term potential scenariosBitcoin has broken its downward trendline in the 1-hour timeframe, indicating a relative return of buyer strength. This breakout could lead to liquidity accumulation at higher levels. Potential Scenarios: Rise to Around $61,000: After breaking the downward trendline, Bitcoin might move towards the $61,000 range. This level could act as a liquidity accumulation zone, triggering increased buying and selling activity. Correction Towards Lower Supports: After reaching the $61,000 range, Bitcoin might correct towards lower support levels. The key support levels in this scenario include: $57,000 Level: This level could act as the first strong support in the downward path. $55,000 Level: If the price continues to decline, this level could act as a stronger backup support.
by MonoCoinSignal
Bitcoin (BTC) in No-Trade Zone, Approaching Critical LevelsCurrent Market Situation: Bitcoin (BTC) appears unstoppable as it heads towards the crucial $60,000 zone. No-Trade Zone: BTC remains in a no-trade zone, with potential triggers only occurring at key extremes. Key Levels to Watch: Upper Extreme: $60,000 Lower Extreme: $53,500 Trading Strategy: Wait for BTC to reach either the $60,000 upper extreme or the $53,500 lower extreme before considering any trades. Stay patient and watch these levels closely! 📈🚨 #Bitcoin #BTC #Crypto #MarketAnalysis #TechnicalAnalysis #Cryptocurrency #Trading #SupportAndResistance #NoTradeZone #KeyLevels
by Richtv_official
Bitcoin Analysis==>>Short-termBitcoin is moving near the Resistance zone($60,800-$56,700) and the Downtrend line . According to the theory of Elliott Waves , Bitcoin seems to have completed the Double Three Correction(WXY) near the Resistance zone. From a Classic Technical point of view, Bitcoin seems to have formed a Double Top Pattern . Also, we can see Regular Divergence(RD-) between Consecutive Peaks . I expect Bitcoin to drop to at least $52,600 . Bitcoin analysis on the daily time frame 👇 Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
20
Bitcoin Price Analysis: Targeting $70,000 After Breaking $59,000Based on recent technical analysis and charts, it is anticipated that Bitcoin’s price, after breaking through the $59,000 resistance level, will likely target $70,000. Below are the reasons for this forecast: Breakthrough of Resistance Level: The $59,000 level is a significant resistance that Bitcoin has been attempting to break for some time. Successfully breaking this level indicates strong buying pressure and bullish momentum in the market. Positive Technical Indicators: Technical indicators such as moving averages, RSI, and MACD show clear signs of a bullish trend. These indicators generally suggest sustained upward momentum and the potential for further price increases. New Support Levels: After breaking the $59,000 resistance, the price is likely to use this level as a new support base. This new support can provide a solid foundation for the price to move towards the $70,000 target. Market Psychology: Breaking key resistance levels often boosts investor confidence and trader enthusiasm, which can lead to increased demand and subsequently drive up the price. This confidence can reinforce the upward trend. Demand and Trading Volume: Increased trading volume near the broken resistance level and the influx of new investors can be indicative of continued bullish movement. Overall, considering the above analysis, breaking through the $59,000 resistance appears to enhance the likelihood of reaching the $70,000 target. However, investors should always be aware of market changes and consider associated risks.
Long
by OmidRafati
2024-08-06 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well. medium-long term: I have been writing about getting down to 50000 for many many weeks now and since we are only 3500 points above it, it’s time to review my medium-long term take. I do think we are doing a very similar thing to 2021. Market will probably touch the monthly 20ema at 46000 soon and then go for a dead cat bounce. I do not think market can do a higher high again. For me it’s lower highs from here on and highest I think it can get again is 65000 but I do think there is a good chance, 63000 may be all bulls can get again. If it trades strongly below 46000, probably 30000 soon after but let’s make 46000 first and then I reevaluate my take. comment: Above is my medium-long term outlook was has not changed for many many months. 50000 was hit and a pullback expected. If you think my 50000 target was moronic when we were at 70000, I still do not care at all what you think about my 40000 target at 56000. 4h 20ema seems resistance again and bears trying to keep it below. It currently runs at 57100, which means I expect a trade back down to retest 50000. Bears could once again not get a decent daily close below 52000 for now, so the bull gap has gotten smaller but is still valid. The next bull gap is from 47000 - 50600 and that will be closed over the next weeks. current market cycle: bear trend - leg 2 is from 70015 down to 49111. Measured move down would be 32000 and that’s almost exactly the breakout retest of the 2023-07 high key levels: 491000 - 58000 bull case: Bulls first target is a 1h candle close above 57000 because the last close above the 4h 20ema was a week ago. If they could manage that, their next target is the bear trend line test around 59000. For now they are inside a weak bear flag with much two sided trading. Invalidation is below 49000. bear case: Only viable question for now is when most bears want a retest of the lows again. That is a 8000 point trade and I’d like to get some of dat. My uber strong bear case would take a hit if bulls get above 59000 but as of now I see it as very low probability. Bears also see this bear flag already had 4 pushes up and is technically ready to break down any moment. Many of the recent sell offs happened outside of EU or US trading hours, so I expect the same. Invalidation is above 59000. short term: full bear mode until we reach 40000 medium-long term: down to 40000 (could take 1-3 months). Could also drop to 20000 again but let’s make 40000 first and see how many want to buy there. —unchanged since March, obviously updated the time range which was 6-9 months before. — current swing trade: None trade of the day: Nah, not going there today.
CRYPTO:BTCUSDShort
by priceactiontds
Bitcoin UpdateOn August 5th, Bitcoin dropped below the 50,000 mark, invalidating a previously established channel. Currently, Bitcoin is testing the 57,000 level. If this test is successful, Bitcoin could rise to the 61,000 level, where it may face a minor retest before continuing its upward trajectory. However, the heavy order concentration and liquidations between the 60,000 and 63,000 levels could present significant challenges. Optimistic Scenario (Green Arrow): After navigating the fluctuations above the order block, Bitcoin successfully tests the blue line, confirming support, and continues its upward trend. Pessimistic Scenario (Red Arrow): Bitcoin faces substantial resistance within the 60,000 to 63,000 range due to high order activity, leading to a reversal and a potential decline back to the 45,000 level.
by LyricBridge5207
Bitcoin Analysis==>>Death Cross!?The fall of Bitcoin in the last 3-4 days has shocked everyone, first, let's take a look at the reasons for this fall : The publication of the US employment report and the increase in the unemployment rate to the highest level in the last 3 years . Tensions in the Middle East , the possibility of a confrontation between Iran and Israel in the coming days. Rumors of selling Jump Trading's assets . The Nikkei index of the Japanese stock market today fell 3,595.30 units , equivalent to -10.01% , to experience the heaviest daily decline in its history since October 1987 . The Cryptocurrency Fear and Greed Index hit its lowest level since early July , indicating panic in the market. However, I think the Fear and Greed index will enter the Extreme Fear zone in the coming days. ---------------------------------------------------------------------------------- Now, let's take a look at the Bitcoin chart on the daily time frame . Bitcoin managed to break the Support zone($60,800-$56,700) which is shown on the chart with the Resistance zone. Also, Bitcoin has broken 200_SMA(Daily) , 100_SMA(Daily) , 200_SMA(Daily) and 21_SMA(Weekly) , which is NOT a good sign for BTC. Most likely, the Death Cross Sell signal by Bitcoin will happen. Death Cross Signal : The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day , crosses below its long-term moving average, usually the 200-day . From the point of view of Classic Technical Analysis , it seems that according to the momentum of Bitcoin's fall in the last 3-4 days, the continuing Descending Broadening Wedge pattern will fail, which could be a sign of the further fall of Bitcoin . Looking at the USDT.D% chart , we can see that USDT.D% will probably increase again after a correction and attack the Resistance lines .👇 According to the explanation above, I expect Bitcoin to attack the Heavy Support zone($49,000-$38,500) again after the correction , probably near $59,000-$60,000. If the Support line is broken, we should expect Bitcoin to fall to $42,000-$43,000 . Note: If Bitcoin can stabilize above the resistance zone, we can expect Bitcoin to rise again, but due to possible tensions that will happen in the Middle East in the coming days, this scenario is less likely to happen. Note: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
13
Chainlink Business As Usual It might seem like a shock for most that Chainlink had this big move down, but if you have spent a lot of time studying Chainlink's last cycle, you would know that this is business as usual. The fact that Chainlink had this move has made me more bullish than ever. We are currently 64% down from March 2024. Crazy? I think not. 71% 71% 62% 44% These are all the corrections Chainlink had during its last cycle to its all-time high. All we are doing is a back test to this previous range. Chainlink was doing the same thing last cycle. If we overlay the last cycle over this starting from wave 5, we can see that we have had a crash during the same time of the cycle as we did in March 2020 (Covid). Crazy. I would not be surprised if Chainlink closed above $11 by the end of the week, just above the 1:1 Gann Fan, and started a V-shaped recovery, marking the bottom. There is a very high chance. Once again, my time fibs hit right on the money. The blue fib marked the bottom, and the yellow marked the top! **Next date: 18th Nov 2024**
COINBASE:LINKUSDLong
by Sporia
10
Chainlink Business As Usual It might seem like a shock for most that Chainlink had this big move down, but if you have spent a lot of time studying Chainlink's last cycle, you would know that this is business as usual. The fact that Chainlink had this move has made me more bullish than ever. We are currently 64% down from March 2024. Crazy? I think not. 71% 71% 62% 44% These are all the corrections Chainlink had during its last cycle to its all-time high. All we are doing is a back test to this previous range. Chainlink was doing the same thing last cycle. If we overlay the last cycle over this starting from wave 5, we can see that we have had a crash during the same time of the cycle as we did in March 2020 (Covid). Crazy. I would not be surprised if Chainlink closed above $11 by the end of the week, just above the 1:1 Gann Fan, and started a V-shaped recovery, marking the bottom. There is a very high chance. Once again, my time fibs hit right on the money. The blue fib marked the bottom, and the yellow marked the top! **Next date: 18th Nov 2024**
COINBASE:LINKUSDLong
by Sporia
Bitcoin Tanks on Monday: Crypto Market Faces Severe Bearish TurnThe crypto market faced a significant downturn on Monday, marking what seems like a Black Monday event. Bitcoin ( CRYPTOCAP:BTC ) led the decline, plunging nearly 10% to hit the $50,020 mark, triggering alarm among investors. Ethereum ( CRYPTOCAP:ETH ) wasn't spared either, crashing almost 20% amidst a broader market slump influenced by major dumps from trading giants like Jump Trading. Key Developments - Bitcoin ( CRYPTOCAP:BTC ): The leading cryptocurrency plummeted 10.78% in the past 24 hours, resting at $54,191.08. The coin experienced a volatile trading day, with lows at $52,559.19 and highs at $61,058.94. Bitcoin’s market dominance increased by 0.98%, now standing at 56.62%. - Ethereum ( CRYPTOCAP:ETH ): Ethereum’s price saw a severe crash, dropping nearly 20%. The sharp decline in ETH price further accentuated the bearish momentum across the broader altcoin market. - Market Impact: The overall global crypto market cap plunged by 12.50%, settling at $1.89 trillion. Despite the downturn, the total crypto market volume surged by 86.72% to $124.44 billion, indicating a high level of trading activity during the sell-off. Broader Market Trends The bearish trend wasn't confined to Bitcoin and Ethereum. The altcoin market largely mirrored this negative sentiment, with most cryptocurrencies posting significant losses. The only gainer in the top ranks was Tether Gold, which edged up by 0.15% to $2,449.72. Contributing Factors Regulatory scrutiny continues to weigh heavily on the crypto market. Bitcoin critic Peter Schiff predicted that Bitcoin ETFs might see a 15%-30% drop below their January highs, adding to the bearish outlook. Also, According to CryptoQuant analyst Julio Moreno, if Bitcoin fails to regain the crucial support level of $57K, the market could see further declines, potentially reaching a $40,000 price target. The bearish crypto trend was exacerbated by a collapse in the Japanese markets. This global financial unease prompted the U.S. Federal Reserve to announce an emergency meeting to discuss rate cuts. Analysts are anticipating a 50 basis points cut, which is seen as an effort to cushion the market crash and potentially aid recovery. Market Outlook The cryptocurrency market has recently witnessed significant declines, leading to heightened volatility. Although some short-term recovery has been observed in the hourly charts for Bitcoin ( CRYPTOCAP:BTC ) and Ethereum (ETH), the predominant sentiment remains bearish. Investors are advised to exercise caution as the market undergoes adjustments to these new dynamics. The daily price chart of CRYPTOCAP:BTC illustrates a bearish reversal pattern following an extended period of consolidation. Further accentuating the bearish trend is the Relative Strength Index (RSI), currently positioned at 26. Of note is the resurgence of BTC subsequent to its drop to the $50,000 support level, with a subsequent surge to $53,727 observed at the time of composition, signifying robust investor interest in the asset.
Long
by DEXWireNews
Technical Analysis of Velas (VLX) 4-hour time frame Descending Channel: The price is currently moving within a descending channel, indicating a downtrend. However, the annotation suggests a potential bullish breakout if certain conditions (such as deploying a bridge with Solana) are met. Support and Resistance Levels: The chart shows several horizontal lines representing support and resistance levels: Resistance at approximately $0.011946, $0.009130, and $0.007360. Support at approximately $0.005267 and $0.003000. Indicators Used: Market Cipher B: Shows divergences and other momentum oscillators. RSI (Relative Strength Index): Currently around 23.79, indicating oversold conditions. Stochastic Oscillator: Indicates a possible reversal, with current readings suggesting a bottoming out. Annotated Points: A "Strong Buy Position" is indicated near the bottom of the descending channel, suggesting this as a potential entry point for a long position. A bullish movement is expected, provided there is a catalyst (like a bridge deployment with Solana). Trading Plan Intraday Trading Entry Point: Look for entry around the current support level of $0.005267, especially if there are bullish signals like a bullish divergence on Market Cipher B or a crossover on the Stochastic. Target Levels: Consider scaling out of positions near the immediate resistance at $0.007360. Stop Loss: Place a stop loss slightly below the support at $0.005267 to minimize risk. Additional Notes: Since RSI is oversold, any bounce could be sharp, so be ready to manage trades actively. Scalping Entry Point: Enter positions on short-term oversold conditions, especially when the Stochastic Oscillator crosses upwards in the lower range (20-25). Target Levels: Aim for quick profits, targeting 1-2% moves within the support-resistance range. Stop Loss: Tight stop loss to avoid getting caught in a larger downward move, around 0.5% below the entry price. Additional Notes: Monitor the price action closely around key support and resistance levels, and consider using a trailing stop to lock in profits as soon as the trade moves in your favor. Swing Trading Entry Point: Consider entering a position near the current support level or after a confirmed breakout above $0.007360. Target Levels: First target at $0.009130, the next significant resistance level. Second target around $0.011946 if momentum continues. Stop Loss: A stop loss slightly below $0.005267 or based on a confirmed breakdown of the descending channel. Holding Period: Expect to hold the position for several days to weeks, depending on how the market evolves and any news regarding partnerships or technological developments. Long Position Advice: Given the current oversold conditions on both RSI and the Stochastic Oscillator, there is a good probability of a short-term bounce. However, the broader trend remains down within the descending channel, so caution is warranted. Risk Management: Ensure you have clear stop losses and are ready to exit if the price falls below key support levels, as the descending channel indicates the possibility of continued downtrend until a breakout is confirmed. Catalyst to Watch: Keep an eye on any news or announcements regarding Velas, particularly related to the Solana bridge, as this could trigger the anticipated bullish move. Given the indicators and market structure, a cautiously optimistic approach seems prudent. If the price breaks out of the descending channel with volume, a more aggressive long position could be considered.
CRYPTO:VLXUSDLong
by elfabiiani
Black Swan Incoming (Part 2)The series continues as Bitcoin fails to invalidate my thesis. This is most likely the start of the crash rather than the end. The first diagonal support comes in at 45-48k. Check out Part 1 above first. The Topping Fractal Strikes Again The entire move is orchestrated time and time again. You can see from Part 1 that 7-10 year wallets shifted massive amounts of Bitcoin right when we get this same topping pattern appearing. Coincidence? I think not. This is the third time it's happened now. You can see from the chart above we failed to break retracement levels. Chainlink Fractal What you are currently seeing above is REAL, it is happening. I thought about this possibly happening when I was actively trading this fractal back in 2023. This is the Chainlink fractal from last cycle overlaid to this current cycle. I traded this fractal back in 2023 and when I overlaid and saw that the Covid crash lined up with my Fib time, I thought, is it possible we get a crash in August 2024? I was going over this possibility in 2023! Mind-blowing. If the fractal plays out, that means that the bottom is basically in for LINK and the bull market starts now, with a top in September 2025. Anyways, I will post a different TA on LINK. The Million Dollar Question Is the double bottom in or not? I have wrestled with this question for months, over a year maybe. While all other analysts and everyone else is convinced that the double bottom is in, I have never been 100% sold on it. What do I mean? Well, since the first Bitcoin cycle, we have formed a double bottom before the bull market starts. As you can see, we always form a double bottom. If we repeat history, that means that Bitcoin will retest the 20k area. Everyone is convinced that this is the double bottom, but I have never been sold on this theory, especially when we have a CME GAP at 21k! Mayer Multiple Bands We can see that the last band is at 26k. For now, the worst case would be that price point. USDT Dominance Chart I was watching this closely. We were forming an ascending channel for a while. Bullish for USDT dominance means bad for the market. What is interesting is that we hit the same level in March 2022. Very interesting. Hash Ribbon First Failure? Will the hash ribbon fail completely this time? Last time it fired off a buy signal, it dumped 17% before going on a massive multi-month rally. We are currently down 29% since its buy. Fear and Greed Conclusion "IF" we even get a bull market, it will most likely start in 2025. We need to get interest rates under 2.5% at least. We have never had a bull market with rates so high. First cycle: 0%, second: 0.5-2.5%, and third cycle: 0%.
INDEX:BTCUSD
by Sporia
1
🗺️Bitcoin Roadmap🗺️🧐Today, I want to analyze Bitcoin for you in a weekly time frame so that maybe it can give us a good view of the continuation of Bitcoin's movement . 🏃‍♂️If you look at the chart, Bitcoin is moving in the Ascending Channel in the weekly time frame, the ascending channel I have drawn seems to be a valid channel, so that the middle line of the ascending channel has played the role of resistance and support well. 🏃‍♂️Bitcoin is moving near the ascending channel's midline , the pitchfork line , the Resistance lines , and the 🟡 Potential Reversal Zone(PRZ)($82,800-$73,200) 🟡➡️ So it shows that Bitcoin is facing an Important Resistance(Supply zone). ⚖️If we look at the chart, it looks like we can expect similar moves before the 2020 Halving . Move 1 is similar to move 3 , and moves 2 and 4 are similar, so if we want to expect similar moves, Bitcoin should start correcting . And until the 38.2% and 50% Fibonacci corrections (we should NOT consider the decrease of Bitcoin in Covid ). I have drawn the possible move for you in the chart below.👇 🌊According to the theory of Elliott waves , Bitcoin can follow two scenarios, and it depends on future events and news . The scenario is as follows: 🚀 Bullish scenario ( more likely due to Halving, ETF, etc ): Bitcoin has completed the main wave 3 at $73,777, and we should wait for the start of the main wave 4 and then increase towards $87,000-$99,000-$112,000 . 🚨 Bearish Scenario : Bitcoin has finished the main wave C at $73,777 (or a little higher), and in case of breaking the 🟢 Heavy Support zone($50,000-$38,500) 🟢, we should wait for Bitcoin to fall (the fall can continue up to 😱 $18,000 😱). Of course, according to the current market conditions, this scenario is somewhat unlikely, but it is still possible, if Bitcoin goes above $77,000 , this scenario will be removed in general . 💡If we look at the RSI indicator in the weekly time frame , we can see that it seems that the RSI has succeeded in forming a Rising Wedge pattern , which can correct the upcoming correction of Bitcoin. 💡In the 1-hour time frame , Bitcoin has formed an Ascending Broadening Wedge pattern , which can be a sign to start the correction of Bitcoin . 🔔According to the above explanation , we can conclude that Bitcoin correction can start soon ; Bitcoin can have a correction to 🟢 Heavy Support zone($50,000-$38,500) 🟢 and then we have to wait for the next movement of Bitcoin( Re-pumping is more likely ). ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), Weekly time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
74