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ATCryptoScan : BTSUSD at that time againLooking back at the BTCUSD weekly charts, there appears to be similar, if not the same, technical conditions before the start of a massive BTCUSD rally. Marked out by time lines, the Green lines are the most similar to current (yellow), and the orange has only a differing VolDiv. All are breakout points and appears to be great accumulation start points for the next year or two. Just weeks ago, a similar technical set up was made, and today is a couple of weeks after... Clear correlation here, so we know what the most probable for the next year going forward... Bullish BTC
BITSTAMP:BTCUSDLong
by Auguraltrader
Bitcoin: Hasn't Reached Optimal Price.Bitcoin showing a higher low consolidation just above the 64K area support. Relative to the previous bullish structure, this signifies a higher likelihood that a higher high will follow, it's just a matter of catalyst. In the mean time, price can fluctuate either way from the current point (random). While the trend may be obvious in this situation, timing it effectively has everything to do with recognizing high probability price locations, setups etc. Otherwise you can make the mistake of assuming greater risk than you realize. In this article, I will describe the high probability, lower risk scenario that the market MAY OR MAY NOT present in the coming week. One thing I recognize is that price continues to flirt with a resistance zone which makes this a tricky play for swing trades (at the time of writing current candle is inside bar). The 67K to 70K area is still a resistance zone (blue rectangle) and a higher risk location for long swing trades. In such scenarios when location is high risk but buy signals appear (break of inside bar high for example), it is more effective to assume risk on smaller time frames like 4H or 1H, and attempting to participate for a smaller bite. The risk that you are minimizing in this situation is the possibility that the 65K minor support is tested again and/or broken (see arrow). The higher probability and lower risk scenario would be IF price can test the 64K support, followed by a reversal confirmation. The location is much more attractive since the potential profit is greater (3K+ points) coupled with much lower RISK (1 to 1.5 max) compared to 3K+ points of risk at the moment relative to this time frame. The illustration on the chart summarizes the ideal scenario that IF the market shows, would be a high probability swing trade long opportunity (which requires entry confirmation). These scenarios that I present are dependent on the price action confirmation otherwise risk cannot be justified. Even having a confirmation process (like the Trade Scanner Pro) does NOT guarantee the trade idea will produce a positive outcome. After all, markets are HIGHLY random and outcomes are often the result of unexpected information being priced in. This is why technical analysis cannot be relied upon over longer time horizons, but can be helpful for quantifying risk. Managing a position effectively no matter the time frame has everything to do with having properly aligned market expectations. First you uncover an idea, LET the market confirm the idea, from there it goes the right way or the wrong way. Your expectations will then shape how you manage the position as it fluctuates. The key to effective management is having an open enough mind to let the market pay you more when IT wants to, while being decisive enough to get out the moment you recognize what "wrong" looks like (or using other risk control methods like a stop). All of this information can be acquired from price charts or tools developed to simplify this process. Without any "process" you are most susceptible to relying on intuition and "hope" which will result in the typical retail trader experience: win sometimes but the account never grows for some reason. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
9
BTC/USD H4 Update BTC is finding support on the .382 level of the most recent impulse on the H4 timeframe. The price action is also finding support on the H4 100 simple moving average. RSI is 44 at time of publishing. Price is also near a local rising support. I think anything at or above the .382 retracement level is a good buy for the weeks to come. We might have a few days of sideways as the bull flag forms. Not financial advice. Do your own DD. Thanks for viewing the idea.
BITSTAMP:BTCUSDLong
by BallsOfSteel32
Bitcoin Still Targeting New ATHHey there, Just wanted to share an update on Bitcoin. Since March 2024, it has been trading within a 30% range, showing significant consolidation. I'm leaning bullish because Bitcoin has left a lot of untouched liquidity behind, and I believe it's only a matter of time before we break the all-time high. If you've been trading the long side swings, you've likely taken profits from previous order blocks. Interestingly, most traders are ready to go long on Bitcoin above $70,000 instead of taking positions within the current range (if we break immediatly, I would also long it on my Futures Account). Personally, I'll be looking to catch two separate spot buys with different position sizes if the market breaks down. It would be great to see a new low for a better risk-reward ratio. Best regards
Long
by umothegreat
BTC/USDT short setupBTC/USDT short setup Date: 10/24/2024 Author: Crypto Rado ( Rhino Aka Bear ) Timeframe: 15M & 4H Following the rejection from $69,566, Bitcoin experienced a 3-leg movement down to the $65,200 zone. From there, we saw another 3-leg upward correction, indicating that the short zone lies within the 0.61-0.7 Fibonacci retracement level, which has now been reached. From this point, my strategy is to short BTC, targeting the 1.272 Fibonacci extension, located between $64,200 and $63,700. On the 15-minute timeframe, a bearish divergence has already formed, and on the 4H timeframe, this divergence is in the process of forming, which would likely be confirmed if BTC reaches the 0.786 Fibonacci level. Key Levels to Watch: Bullish breakout: $69,566 Bearish breakdown: $66,750 Disclaimer: ⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital.
Short
by RhinoAkaBear
35
Second section is an attractive buy section (confirm support) Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- (BTCUSDT 1D chart) It seems to have met resistance in the 68393.48-69031.99 section and fallen below 67414.39. Accordingly, we need to check for support near 67414.39. If it meets resistance at 67414.39 and falls, we need to check for support near 65602.01-65920.71. - BW (50) is showing signs of being newly created at 66668.65. Accordingly, the key is whether BW (50) can be supported near the newly created point and rise above 67414.39. - Since the StochRSI indicator has currently entered the oversold zone, the decline is strong. Therefore, if it fails to maintain the price by rising above 67414.39, it is likely that an additional decline will occur and it is recommended to consider a countermeasure. When the StochRSI indicator rises above the oversold zone and maintains the state of StochRSI > StochRSI EMA, the upward trend is likely to begin. Therefore, the 2nd zone (65920.71-67414.39) is an important support and resistance zone. In addition, since the M-Signal indicator on the 1D chart is passing the 65920.71-67414.39 zone, it is even more important. - Checking for support is a difficult and tedious task. Therefore, it is also good to refer to the location of the StochRSI indicator or BW indicator to help confirm the direction when checking whether there is support. I think that you can create a much better response plan than drawing a trend line and checking whether it goes up or breaks away from it. Trend lines are used for chart analysis, but they are not very helpful in conducting actual trading. The reason is that they are made of diagonal lines. Therefore, I think that it is good to use trend lines in combination with support and resistance points drawn on 1M, 1W, and 1D charts to confirm the period of volatility. Since a pattern is meaningful when it is completed, you should not try to think in terms of fitting it into a pattern. - After all, the purpose of everything displayed on a chart should be to conduct trading. Therefore, you should check what kind of movement is shown at the support and resistance points drawn on the chart and trade accordingly to make a profit. Since the StochRSI indicator has currently fallen below 50, we should look at the chart with the purpose of finding a time to buy. For that purpose, the 2nd section (65920.71-67414.39) is an attractive buying section. If it falls in the 2nd section, the next buying section is likely to be 61099.25-62791.03. The reason for this is that the M-Signal indicator on the 1W chart is passing around 62791.03. - Therefore, we should know how to wait when we wait, and when it is time to start trading, we should start trading boldly. I think it is time to wait because it is still confirming support and resistance. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that the real uptrend will start after rising above 29K. The section 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 (when overshooting) 4th: 134018.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are the points where resistance is likely to be encountered in the future. We need to see if we can break through these points. We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
$BTC.D Near 60% - Cue Altseason?Bitcoin Dominance continues to rip nearing its target of 60% You can see the 2 major trendlines about to converge, similar to what we saw in March 2020 which was followed by more rate cuts. We could expect CRYPTOCAP:BTC.D to break trend, and fall under the 50WMA, cueing a short-term Alt season, and then Bitcoin stealing the show again with more institutional buying on the horizon. This could bring one last shakeout to the Altcoin market, before BTC.D completely falls off a cliff and the entire market goes parabolic.
CRYPTOCAP:BTC.DLong
by jonnieking
Bitcoin Whale Accumulation Hits All-Time High as Price ReboundsBitcoin ( CRYPTOCAP:BTC ) has recently bounced back to the $68,000 mark following an unprecedented wave of whale accumulation. With whale wallets—holding over 100 BTC—hitting all-time highs and major institutional players like BlackRock increasing their Bitcoin holdings, market sentiment around BTC is cautiously bullish. Yet, the recent price rally faces key technical tests, including a potential Golden Cross formation, raising questions about Bitcoin’s next move and the likelihood of reaching new all-time highs by the upcoming U.S. elections in November. This article explores the fundamental and technical factors influencing Bitcoin’s recent price movements and its near-term outlook. Whale Accumulation and Institutional Influence Whale Wallet Surge and Market Sentiment According to recent data from analytics platform CryptoQuant, the number of Bitcoin ( CRYPTOCAP:BTC ) whale wallets holding over 100 BTC has grown by 297 over the past two weeks, bringing the total to a record-breaking 670,000 BTC. This trend indicates rising confidence among large holders, often viewed as market “smart money,” signaling they see value in BTC at its current price levels. Historical data from CryptoQuant suggest that when whale holdings increase, BTC price typically moves sideways or experiences moderate dips, reflecting a consolidation phase that often precedes a market surge. BlackRock’s ETF and Institutional Accumulation A notable catalyst in Bitcoin’s current rally is the inflow from institutional investors. BlackRock’s Bitcoin ETF, IBIT, has recently accumulated nearly 30,000 BTC over nine trading sessions, now holding more than 399,000 BTC, which accounts for approximately 2% of Bitcoin’s total supply. This accumulation by BlackRock is viewed as a bullish signal, as it brings increased stability to the asset class. The ETF inflows provide liquidity, while also limiting circulating supply, potentially creating upward pressure on price. Technical Analysis After facing rejection at the $69,000 level, Bitcoin’s price has found robust support around $65,500. This rebound has seen CRYPTOCAP:BTC gradually climb back, hovering near $68,000 as of today. Despite this recovery, Bitcoin needs to break past the psychological $69,000 resistance to maintain its uptrend and push toward new highs. Golden Cross Formation: Bullish Signal or Caution Ahead? Bitcoin ( CRYPTOCAP:BTC ) is showing signs of forming a “Golden Cross”—a bullish technical indicator where the 50-day moving average (MA) surpasses the 200-day MA. This pattern, often seen as a signal of a bullish trend continuation, indicates that CRYPTOCAP:BTC could be preparing for a sustained rally. However, while a Golden Cross is traditionally optimistic, CryptoQuant analysts caution investors about its reliability, especially during periods of heightened market uncertainty. RSI and Momentum Analysis With an RSI currently at 61, Bitcoin ( CRYPTOCAP:BTC ) is showing moderate momentum, suggesting there is still room for potential growth. Generally, an RSI reading above 50 indicates an uptrend, but with BTC’s RSI not yet overbought, there’s potential for further price appreciation before encountering major resistance. Will BTC Hit New Highs by the U.S. Elections? Many analysts point to the U.S. presidential election season as a potential catalyst for Bitcoin ( CRYPTOCAP:BTC ). Some believe that reaching a new all-time high within ±21 days of the November 28 election date would indicate strong sentiment and sustained momentum in the current bull cycle. However, if Bitcoin fails to break past its previous highs, it may signal a slowing in bullish momentum, possibly prompting a period of correction. Conclusion The recent increase in whale wallets and institutional accumulation signals robust confidence in Bitcoin’s long-term value, even as it faces near-term resistance. With the potential formation of a Golden Cross, CRYPTOCAP:BTC may be on the brink of a new rally, though caution remains as market conditions are complex and uncertain. If Bitcoin ( CRYPTOCAP:BTC ) breaks past $69,000, it could pave the way for a test of $70,000 and higher. As we approach the U.S. election season, CRYPTOCAP:BTC investors and traders will be watching closely to determine whether this wave of optimism can carry Bitcoin to new highs. For investors, the rise in whale accumulation and institutional holdings points to bullish sentiment. However, remaining cautious of technical signals such as the Golden Cross and key resistance levels will be critical in navigating Bitcoin’s volatile path ahead.
COINBASE:BTCUSDLong
by DEXWireNews
2