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BTC potential IH$S - If 60k bounce: 71k target BINANCE:BTCUSDT 4H Analysis NOT FINANCIAL ADVICE TL;DR BTC continues moving downwards towards the 60k mark. A bounce there would validate the IH&S pattern and open the way for a W3 to 71k. We have a lot of confluence: On top of being the right shoulder of the IH&S pattern, a retrace to 60k would be 0.618 fib of the last leg up We are seeing some support from the 50VWMA (yellow), very close to the 60k mark (currently 60.7k) TD Sequential just printed a perfect Buy Setup (red M9), indicating a potential reversal. You can see on the chart how accurate its previous signals have been RSI is nearly oversold (currently ~35) Both the MACD and its signal line are in the negative. Once we have a crossover, the further below 0 it happens, the stronger the reversal confirmation will be
Long
by AliferCrypto
1
HelenP. I Bitcoin can exit from pennant, and continue to riseHi folks today I'm prepared for you Bitcoin analytics. A not long time ago price declined to the trend line and then at once made impulse up to the support level, which coincided with the support zone. Soon, the price broke this level and made a retest, after which continued to move up to the resistance level inside the upward pennant. When BTC reached the 70500 level, the price broke it and rose to the resistance line of the pennant, but at once turned around and in a short time declined to the trend line, which is the support line of the pennant too, breaking the resistance level one more time. Next, the price some time traded near this line and then rebounded up to the resistance line of the pennant, which at the moment continues to trades near. So, for this reason, I expect that Bitcoin will continue to grow to a resistance level, thereby exiting from the pennant. Also then, I think BTC can break the resistance level, make retest, and continue to grow. So, I set two goals: 1st at the 70500 resistance level and 2nd at the 72500 points. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
1
BITCOIN FAILED ON RESISTANCE, WHAT'S NEXT? As predicted in our previous analysis, Bitcoin experienced a significant rally following the identified breakout. Currently, the price is once again encountering strong resistance at the major zone we highlighted earlier. The recent bullish trend developed within a bullish channel, suggesting the possibility of a bearish impulse and another retest of the resistance zone. If Bitcoin fails to break through this resistance again, we might see the formation of a double top, potentially leading to a sell-off accompanied by increased volume.
Long
by traderchamp_
Bitcoin finds strong resistance at $70,000Bitcoin (BTCUSD) pulled back below $67,000 in a broad market move yesterday. Interestingly, this price action coincided with the Securities Exchange Commission’s (SEC) approval of exchange applications to list spot Ether ETFs, which was recently preceded by a rally in altcoins, of which many are currently seeing profit-taking. In addition to that, it coincided with a similar weakness in the U.S. tech sector that remains highly correlated with Bitcoin and whose potential topping presents one of the biggest threats to the cryptocurrency’s spectacular performance. While Bitcoin may take out all-time highs in the near future, we are significantly less optimistic about it continuing to $90,000 or $100,000. In fact, we are starting to grow increasingly more convinced that investors will find, once again, that markets do not function as exponential growth machines. It may have seemed up until now that wealth could be made out of thin air, but historical precedents show that such optimism often leads to harsh reality checks. The exuberance in the market, fueled by speculative mania, will likely face a sobering correction as underlying economic fundamentals reassert themselves. Therefore, we deem it proper to be highly cautious in the current environment, especially as investors continue to disregard many recessionary signs that eventually lead to risk aversion. Illustration 1.01 The daily chart of Bitcoin (BTCUSD) shows a recent rejection at the channel’s upper bound. Another retest of this resistance is not ruled out. Illustration 1.02 Movements indicated by the 20-day SMA and the 50-day SMA suggest choppy market conditions for the trend’s medium degree. Bitcoin addresses The number of Bitcoin addresses with balances exceeding 1,000 BTC has been rising over the past week or so. But the opposite has been happening to the number of Bitcoin addresses with balances exceeding 100 BTC. Technical conditions Daily time frame = Slightly bullish Weekly time frame = Bullish (losing momentum) Monthly time frame = Bullish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
Bitcoin Price Hits $69,000Bitcoin ( CRYPTOCAP:BTC ) price surged 10% to over $69,000 this week, sparked by various factors and increasing the odds of it breaking to $75,000. This week was marked by major crypto events such as the US House passing FIT21 for crypto regulation, the anti-CBDC bill banning the Federal Reserve from issuing CBDC, spot Ether ETFs approval, and spot Bitcoin ETF buying after outflows in earlier weeks. The crypto market sentiment has increased to 76 (extreme greed) from 70 (greed), but headwinds still persist for Bitcoin price to hit a new all-time high. Short-term, macroeconomic events such as US PCE inflation data and crypto market expiry on May 31 are primary obstacles to the ongoing Bitcoin price rally. Bitcoin ( CRYPTOCAP:BTC ) holds firm above key support level at $66K after the cooling US CPI inflation triggered a breakout in CRYPTOCAP:BTC price in mid-May. A 2-month trendline breakout this week also sparks trades for long positions. Over 65,687 BTC options of a notional value of $4.54 billion are set to expire, with a put-call ratio of 0.57. The max pain point is $65,000, indicating high odds of Bitcoin selloff after days of low trading volumes. Implied volatility (IV) witnessing significant declines across all major terms, which means volatile price movements can likely cause a pullback in BTC price. Crypto analysts are bullish on CRYPTOCAP:BTC price to hit at least $100K this year, with rate cuts by the US Fed and other central banks being the major reasons behind it. Analyst Caleb Franzen said that Bitcoin has unquestionably formed a new base, making higher lows for three weeks. Whale addresses have been the main accumulators, leading to $1.4 billion worth of CRYPTOCAP:BTC in their balances. CRYPTOCAP:BTC price jumped 1% in the past 24 hours, with the price currently trading near $69,000. The 24-hour low and high are $68,343 and $69,579, respectively. Trading volume has decreased by 50% in the last 24 hours, indicating a decline in interest among traders. Traders expect low trading volumes in the coming days due to holidays and other factors.
BINANCE:BTCUSDLong
by DEXWireNews
Anticipating BreakthroughsBitcoin, after a period of correction, has reached its daily support level and is showing signs of forming initial support nuclei. It is expected that after a period of sideways movement in this range, Bitcoin will move towards the 69,900 resistance level. If it successfully breaks this resistance, the new target of 75,400 will be within reach. The priority is to maintain the daily support and aim for an upward reversal, thus paying attention to the key support at 67,300 and the current resistance at 69,900 is essential.
by MonoCoinSignal
🔥 Bitcoin's HUGE Cup & Handle Pattern Breaking Out!In this analysis I want to take a look at a long-term pattern that BTC has been following over the last few years. In my eyes, BTC's price action closely resembles a cup&handle pattern, which is a bullish break out pattern. Assuming that the handle's low is in, we can place our stop right below it. Target at 150k. Be aware that the pattern has not yet been completed; wait for a new all-time high before entering a position. Share your thoughts!
Long
by FieryTrading
12
🗺️Bitcoin Roadmap🗺️⏰(15-minute time frame)⏰🌐 Bitcoin seems to have started to increase under the influence of Ethereum ETF news ➕ Inflows into Bitcoin ETFs hit $237 million on Monday . 🏃‍♂️ Bitcoin is currently moving near the 🔴 Resistance zone($73,780-$71,920) 🔴 and the Resistance line . 🌊According to the Elliott wave theory , Bitcoin seems to be completing microwave 4 of the main wave 5 . 🔔I expect Bitcoin to Attack the Resistance zone after the completion of micro wave 4 from the main wave 5 . ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. 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.
by pejman_zwin
8
ANKRUSDT → Traders are gearing up for a rally. Breakout 0.05BINANCE:ANKRUSDT breaks the resistance of the symmetrical triangle, which generally determines medium-term perspectives for us. The coin may move to the realization phase after consolidation The potential of the coin is quite large, the market has been saving energy for two years and with the breakout of 0.0476, then 0.05885 it can move into a strong rally phase. There are already bullish prerequisites on D1. A breakout of the range resistance and a retest of 0.0478 is forming. Watch the price reaction, as a correction may follow before a further resistance breakout, but a quick retest will increase the chances of a breakout. Support levels: 0.04528, 0.0425 Resistance levels: 0.0478, 0.051 I expect that a small correction will quickly end, after which traders will again move to attack the resistance at 0.0478 with the aim of breaking it. Consolidation above the level will be a good sign for growth. Regards R. Linda!
Long
by RLinda
3
ATCryptoScan : BTCUSD A time to fall and a time to riseJust wanted to show something here... I do play around with timelines, and with BTCUSD, it is a little uncanny that more of these are followed. See example in chart for pretty much 2024, only one time in end March did it fail. Otherwise, there is a 7-14 day heads up on the imminent direction. Uncanny. So the point is that tomorrow should see the peak, and by mid-June (10 June as it states) should see the rebound. Thing is, the current top would be the major top, or at least the major slide down for this year. Technicals are aligning to this scenario... A yellow box of the range from March should be watched. Expecting at least a revisit of the support. and then a possible slice through(?) Heads up... we also revisit in a few weeks to see outcome here.
BITSTAMP:BTCUSDShort
by Auguraltrader
Bitcoin: So close 🤏Bitcoin established a new local high yesterday morning at $71,281 before retreating slightly lower. Despite the recent price increases, we must primarily continue to assume that the price will once again sell off into our green Target Zone ($58,655 - $47,012). Once the low of wave 4, which is also in green, is placed there, we see the price sustainably surpassing the resistance at $73,462 and thus reaching new all-time highs. However, our alternative, which calls for a direct move above this mark carries a probability of 48%. In this case, the low of the interim correction will already have been set with the last dip into our Zone.
BINANCE:BTCUSDLong
by MarketIntel