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Bitcoin: Sell Signal Watch For 58K.Bitcoin continues to respect the support/resistance levels within the broader consolidation. These price areas have been relevant for months and will continue to be relevant UNTIL the market proves otherwise. To navigate this environment effectively requires the ability to anticipate price behavior at these key levels, confirm a reversal AND quantify the risk associated with the time frame you intend to operate within. With this in mind, 64K is a CLEAR resistance and it is within reason to anticipate bearish activity across higher and lower time frames. As of now the low of an inside bar has been broken (see arrow). This CONFIRMS a sell signal off the 64K key resistance which means this is NOT the time to be long (swing trades) and aggressive shorts are reasonable for smaller time frame (day trade) strategies. The illustration on the chart refers to the scenario that I believe has a greater probability to unfold compared to a narrow range of scenarios over the coming week (see previous articles for outcomes of previous illustrations). While this can change at any time, the point here is to recognize the next probability location (58K AREA) for a swing trade long. IF Bitcoin presents such a test, the pattern to watch for is a bullish pin bar or inside bar between 56 and 58K. Such an outcome can be characterized as a failed low formation which is very typical within price consolidations. If you are interested in the short side potential, following the illustration is most effective on smaller time frames and using a tool like my Trade Scanner Pro in trend mode. This setting is specifically for momentum continuation patterns which are likely to unfold in price regions that are not in close proximity to key levels (like 62L to 60K for example.) The idea is to follow the momentum on the smaller time frame while also accounting for the smaller magnitude profit objective and risk. Playing the price action game totally relies on a strong grasp of HOW price moves, NOT WHY. One of the biggest obstacles for retail traders is the relentless amount of misinformation that is then mixed with personal emotional baggage. Yet, even though I repeat this often, it is no match for the power the drives human nature. People would rather react to and put their trust into an exciting story rather than a bunch of seemingly abstract lines on a chart. What the typical trader fails to realize is that a chart is a historical record of human behavior expressed in the form of buy/sell orders. The problem we are trying to solve (where is price going next?) is a BEHAVIORAL one, and nothing more (even in the age of algos). One of the universal truths that make technical analysis worthwhile is that "history repeats itself". Why else do you think support/resistance levels have any future opportunity value? Thanks you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
20
Bitcoin 1 000 000$ ❚ Livermore cylinder📣 Hello everyone! I bring to your attention my, I’m not afraid of this word, GLOBAL trading idea for Bitcoin for the decade ahead! ☝️ Now let me, as briefly but informatively as possible, explain to you how, step by step, Bitcoin will most likely come to $1,000,000 dollars, as well as what the two most serious risk factors are today ⚡️ In 1929, Jesse Livermore published this hypothetical chart (bottom right) showing “The Most Important Thing Happening to the Price of A Stock.” At the beginning of this pattern there is an expanding accumulation wedge, an upward “megaphone” (“horn”) formed from two sloping trend support/resistance lines. In the original, according to Livermore, it is necessary to take into account the volume when forming a pattern, but in my opinion, in relation to Bitcoin, it is better to take into account the spread; I removed this turkey from the final chart for the aesthetic reasons of the trading idea, so let’s study it on our own. Having spent quite a lot of time on multiple technical and fundamental analysis of BTC, as well as taking into account trends in the macroeconomics of the United States and the world economy as a whole, I came to the conclusion that a very strong bullish pattern is forming on the Bitcoin chart - the EXPANDING WEDGE OF LIVERMORE ACCUMULATION! This means that from the birth of Bitcoin until 2024, all these bullish and bearish microcycles are a period of accumulation of the asset! 🔹 Now briefly on key points according to the pattern: 1️⃣ All-time Low (ATL) - the minimum price of Bitcoin in its entire history, the birth of an asset! 2️⃣ ATH 2017 – First serious takeoff 🚀 Maximum of the bullish rally that ended in 2017 in the 19-20 k$ zone 3️⃣ Low 2018 – minimum correction after ATN 2017 4️⃣ ATH 2021 – a new absolute historical maximum in the area of ​​69k$, which only a few spoke about in 2019, including me with my trading idea Bitcoin $55 k$ 5️⃣ Correction completed - low 15.4 k$ - Correction to growth to $69,000 completed in November 2022 6️⃣ The end of the bullish rally 2022-2025 - Bitcoin price 115-150 k$ - According to the graphical pattern I am considering, the long-term upward trend will most likely be limited in growth, taking into account the error on the monthly frame, by the zone of 115 - 150 k$ - At the moment, Bitcoin is consolidating above 60 k$. The second inflation wave will force the Fed to return to tightening monetary policy after the US elections, probably closer to the second half of 2025 or even by the end of this year! Bitcoin will set a new ATH before this time and a long-term bearish trend will begin. 7️⃣ In 2027 - low correction ≈ 30 k$, the Fed is forced to give up, the war against inflation is lost. The start of an unprecedented QE... FED Money printer - brrrrr..... - In 2027, the Fed will be forced to surrender, the war against inflation is lost. The United States will solve all its problems in the only possible way - launching a printing press and unprecedented QE. 2027 marks the start of the dollar's descent into hyperinflation. The Bitcoin correction will end at 30 k$ +-10%, this will be the last opportunity to buy before the bull market of the century, the realization of an exit from almost 20 years of accumulation! 8️⃣ The most powerful and fastest bull rally in history! The first wave after exiting accumulation. Hyperinflation in the USA... - The most powerful and fastest increase in the price of Bitcoin in history! The first wave of the bullrun after exiting accumulation, within 1-2 years the mark of 500 k$ per coin will be reached. The United States is plunging into hyperinflation, the dollar is leaving the world stage, and the yuan is taking its place. Digital assets and commodity markets are growing. 9️⃣ ATH is coming soon... The second wave of the bull rally! - Soon there will be ATH in pairs with the dollar... The second wave of the bullish rally! Hyperinflation is growing, the Fed can do nothing more - the phrase “dollar collapse” will sparkle with new colors among skeptics. 1️⃣0️⃣ Bitcoin $1,000,000 + "Bubble Peak" – Bitcoin has crossed the $1,000,000 mark, the peak of the dollar bubble. In 2030-2035, the dollar may cease to exist as a currency in general; trading against the dollar may simply be stopped. The value of BTC will already be measured, for example, against gold in the BTC/GOLD pair, or the Chinese yuan BTC/CNY. _____________________________________ ⚠️ This could have been the end, so to speak, to put an end to this trading idea. Further points make sense only if the dollar still exists, which is unlikely from my point of view. I just don't know what should happen. But I still outlined further points on the original Livermore pattern in this trading idea. ________________________________________ 1️⃣1️⃣ BTC first major sale – the first major sale of Bitcoin, since there is no such thing as eternal growth! Sooner or later there will always be people willing to sell; former bulls begin to sell short! 1️⃣2️⃣ Test 1 000 000$ before selling short! – A round psychological level of one million dollars will be like the 10 k$ level for Bitcoin at one time; the price will interact with it more than once. 1 000 000$ test, followed by a powerful dump. 1️⃣3️⃣ Long-term correction near strong support 500 k$,1M timeframe - Long-term correction - strong support 500 k$, timeframe 1 month. 1️⃣4️⃣ Flat correction – Another flat correction in a bear market, or any other. 1️⃣5️⃣ Strong support 100 k$ - Strong support in the area of ​​100 k$ - the formation of the bottom before a new growth cycle, it will probably already be >10 000 000$ (assuming the dollar exists at all!) 🔹 I note two global risk factors that could make significant adjustments to this global trading idea: 1️⃣ This is the government's fight against Bitcoin. I believe that in 2025-2027 Bitcoin will come under pressure from the US government, when it is already clear that Bitcoin poses a real threat to the dollar. Ultimately, Bitcoin will emerge victorious from this situation and there will be growth. The main trigger for the future bear market phase from my point of view! 2️⃣ The second threat is more significant. Bitcoin depends on electricity and miners in particular. Planet Earth is entering a cycle of natural disasters that will increase exponentially every year. Many areas in the world will become uninhabitable. Sooner or later, large miners will come under attack, what geolocations they will be and who will suffer first - I don’t know for sure! The network may not die completely, provided that the life of humanity and technology on Earth is preserved. But it is impossible to predict what damage will happen to the price of Bitcoin in this case. ⚠️ That's all for today, I wish you good luck in making independent trading decisions and profit. Please analyze the information received from me, always think only with your own head! Goodbye! ✊
BNC:BLXLong
by AnonymousTraderAcademy
1
BITCOIN - Price can bounce down from wedge to $59000 pointsHi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Recently price declined to support line and at once bounced up to $60900 level and soon broke it. Then, price made retest and continued to move up to resistance line, after which it turned around and declined to support line. Next, price rose to resistance line, but soon started to decline inside wedge, breaking $64300 level at once. After this, price fell to support line of wedge and then bounced up to resistance line, after which started to fall. In a short time, BTC fell to support line of wedge, but recently it rose higher than $60900 level, breaking it. Now, I think that price can rise slightly and then bounce to $59000, breaking support level and exiting from wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
7
BITCOIN → Bullish Pressure !!! As I mentioned in my previous analysis, Bitcoin experienced a good rise after breaking out of the wedge and is now near the top of the megaphone. Currently, it is in an ascending triangle, but we can't be sure about it yet. Additionally, on the MACD, we have a hidden bullish divergence, which alone is a bullish signal. previous analysis ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard .💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
COINBASE:BTCUSDLong
by CobraVanguard
1
Gold and BTC correlationWe can compare many charts trying to find what we want to see! That's why I don't like patterns and correlations between assets! As we can see in the example of SPX and Bitcoin, sometimes they correlate and sometimes they go in completely different directions! We can't compare the world in 2008 and the world in 2024, there were so many geopolitical, political, natural, medical events and many other things that change the world every year! That's why I'm for analyzing the current situation in the world! I'm more than sure that in 2034 people will try to find some patterns comparing 2034 with 2024 and they will find what they are looking for! Whoever wants to see bearish patterns will find a hundred confirmations for the coming fall, whoever is waiting for growth will find a hundred confirmations for growth! And they will all look logical! For comparison Gold and Bitcoin monthly charts! 2 times in the entire history of Bitcoin, when gold set its historical maximum and began to correct in 2011, Bitcoin needed 19 months to form a new historical maximum, rising from 4.30 to 1177 The second time this happened in August 2020, gold set a new maximum and went into correction, Bitcoin needed 8 months from August 2020 to set a new historical maximum from 10600 to 64800! Therefore, if you need to find positive in the market, you will find it, if you sit outside the market and wait for a correction and the price is cheaper, you will find negative! But it is better to just be in the moment Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
BNC:BLX
by Crypto4light
1
BTC potential sideways move?Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. BTC started to have indecisive moves and trades in a band (as highlighted). It could well be the trading band until otherwise broken.. not much bias now if you trading the near term. Do check out my recorded video (in trading ideas) for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
ICMARKETS:BTCUSD
by Shadowing_The_Big_Boys
Bitcoin(BTC) Near Key Resistance- Breakout or Pullback Ahead ??Bitcoin is approaching a critical resistance level at $65,420. 🚀 If BTC breaks through, we could see a push toward the next major target at $70,037. However, if it gets rejected, we might head back down to the support zones near $60,258 or even lower toward $57,315. 📉 Both bulls and bears should stay on high alert—this is a pivotal moment for BTC! Whether you’re looking for a breakout or preparing for a pullback, this chart is loaded with opportunities. Get ready to make your move! 💥 Trade what you see MB Trader
BITSTAMP:BTCUSD
by Mindbloome-Trading
HA-High Box Range: 62856.30-65618.80 Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- Since this is a chart for trading, there is nothing to analyze. However, since the chart has been released, I think it is necessary to explain how to actually use it, so I will spend a few more times explaining this chart in the future. - (BTCUSDT.P 1D chart) In this chart, M-Signal indicators for 1M, 1W, and 1D charts have been added to check the trends necessary for chart analysis. The 5EMA line of the 1D chart has been added for scalping and day trading. - Basically, the point where you start trading is the BW (0), BW (100) line. - Mid (50) line is the position conversion line. - Low (20 UP), HIgh (80 Down) line are split trading points because they indicate the low and high points. Since the Mid (50) line is showing signs of rising and being created, the key is whether the Mid (50) line can be supported around this area and rise above the High (80 Down) line. - (1h chart) If the price is maintained above the BW (100) line, it is likely to lead to a stepwise uptrend. If it falls below the BW (0) line, it is likely to lead to a stepwise downtrend. Since 5EMA on the 1D chart > M-Signal on the 1D chart > M-Signal on the 1W chart, if it is supported near the BW (100) line, it is expected to lead to additional rise. However, if the StochRSI indicator enters the overbought zone, it is likely to decline over time. In that case, you should check whether there is support near the High (80 Down) line. Also, if the Mid (50) line is created near the price, you need to check whether you should switch the position. ------------------------------------------------ (BTCUSDT 1D Renko chart) You can see that the 63000 point is an important support and resistance point. - The point to watch is whether it can rise along the rising trend line (2) and receive support near 63515.05-64538.39. - The 62856.30-65618.80 section is the box section of the HA-High indicator on the 1D chart. Accordingly, if it receives support near 62856.30, it is highly likely that it will attempt to rise to the 64748.70-65618.80 section. If it falls below 62856.30, 1st: 61099.25 2nd: HA-Low on 1D chart (currently 56204.13) We need to check for support near the 1st and 2nd above. The next volatility period is around November 4th. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture It is expected that a full-scale uptrend will begin after it rises 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 (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 -----------------
by readCrypto
BTC: Two Likely Scenarios I'm WatchingBitcoin hasn't yet been able to break out above the diagonal resistance that formed after the most recent high. Until we're able to do a bump-and-run ABOVE this trendline, lower lows seem the most likely until we've found a zone with sufficient buying pressure to take us back upwards. Lower lows and lower highs mean short term bearish, unfortunately. I discuss the reasoning for these two scenarios in a little more detail, here: However, this doesn't imply that there won't be decent range trades / swing trades in this area - in fact, there's been incredible opportunities whilst Bitcoin chops around. Follow here to make sure you never miss a moment! ___________________ BINANCE:BTCUSDT
by CryptoCheck-
10/11 Can positive earnings season secure BTC Pumpctober?Overview: The AMEX:SPY continues its bullish streak, hitting a new all-time high and marking the fourth consecutive day of gains. But what’s fueling all this excitement? Just a few weeks ago, concerns about World War III and a looming recession were dominating the headlines. Now, it seems like the market is brushing off those fears. Pumping the AMEX:SPY means pushing up the stocks that make up the index, which suggests an improvement in their earnings, particularly net margins. Conveniently, earnings season typically starts in mid-October and runs through late October and early November. This past week, giants like PepsiCo, Delta Air Lines, BlackRock, JPMorgan Chase, and Wells Fargo all reported earnings—and they all beat analysts' expectations. What’s notable about this group is its diversity: from consumer staples like food and beverages to airlines, signaling strong consumer purchasing power, to investment and banking companies, which are more dependent on macroeconomic factors and the Federal Reserve’s decisions. These companies, often beneficiaries of quantitative easing, could be the early indicators of a trend. With such a strong start, we might expect more companies to continue beating estimates, setting the stage for what we’re calling "Pumpctober." In the coming week, we’ll hear from other banking giants like Bank of America, Citigroup, and Goldman Sachs. Healthcare heavyweights like Johnson & Johnson and UnitedHealth Group are also on the docket, along with Netflix. You can find the full list and earnings calendar here: www.ii.co.uk So, let’s sum it up: the market is surging, consumer spending seems robust, and on Friday, Jerome Powell reported higher-than-expected CPI and core CPI. It feels like the economy is running hot, but that also means no immediate need for an interest rate cut. What clouds the picture slightly is a higher-than-expected number of jobless claims—258k compared to the expected 230k, and higher than the previous 225k. If unemployment continues to rise, it could impact company earnings by Q1 and Q2 of 2025. For now, though, we’re all in on Pumpctober, with a 90% chance of an interest rate cut in November, up from 82%. ETF Flow: The big players aren’t buying BINANCE:BTCUSD or BINANCE:ETHUSDT . Retail investors are. BlackRock and Grayscale are still sitting on the sidelines. BTC TA: W: Bitcoin is barely holding onto the Bollinger Band MA and remains below the weekly and daily levels of $64 k. It’s also under the 2024 yearly point of control (Volume Profile indicator) level of $63.2k. However, we noticed that the current price is very close to the closing levels of the last two quarterly candles—June and September both closed at $62.6k. Until it breaks below $61.4k, we can’t call it bearish just yet. D: Thursday’s close below the key $60.5k level appeared to signal a breakout, but BTC quickly retraced, turning that breakdown into a fake-out. If the stock market keeps rallying, some of that liquidity and optimism could spill over into crypto, completing a bullish flag pattern. Saturday is showing some bullish momentum, but we need today’s candle to close above $62.8k to confirm a higher high. 4h: On this time frame, Bitcoin is battling strong resistance at $63k. It’s unlikely we’ll see significant movement on a Saturday, as market makers tend to be less active, but if BTC fails to break out from $63k, it would confirm a bearish trend, and shorting from here could offer a good entry point. 1h: On Friday, we saw 7 consecutive hours of aggressive buying starting at 9 am NYC time, with volume doubling the average and pushing BTC from $61.1k to $63k, a 3.19% jump. Alts Relative to BTC: What was a lower low for BTC was a higher low for ETH, SOL, NEAR, and BNB, which is a bullish sign. However, none of these alts have established a higher high, which cancels out the bullish sentiment. The best move for now is to avoid taking positions until there’s a major breakout with confirmation. Bull Case: We could be on the verge of a trend reversal, breaking the bullish flag pattern. Both the US and Chinese economies are about to be flooded with cheaper money, which could flow into speculative assets like crypto. Bear Case: This is an ideal moment to short BTC if it fails to reclaim resistance and turn it into support. The deadline for confirmation is Sunday evening. Fear and Greed Index: 43, back to Neutral. Prediction: All eyes are on Sunday, 9 pm EST and 6 pm PST, when Asian traders will return to their desks. Expect increased volatility as bulls and bears clash. Mistakes: Both SUI and TAO have continued to pump higher despite lower volumes and volatile price swings of around 15%. If it establishes a higher high, stalls and you short - at least you can trade the range while BTC decides its direction.
COINBASE:BTCUSD
by EvgenCapital
ZEC/USDT 1D Zcash is a chart I like the look of quite a lot on the 1D timeframe. ZEC has outperformed the majority of the altcoin market since it flipped the 1D 200EMA downtrend into an uptrend. The 1D 200EMA has been I a downtrend for 2.5 years since the very beginning of 2022! Since then ZEC has bounded off the moving average once with a large wick and now it has just swept liquidity and reclaimed. Waiting for a confirmation of support with some clear closes above. The local double bottom can be seen using the 0.25 line as support. The next resistance level is the 0.5 range midpoint should the 1D 200EMA close above with strength. It's important to realise that ZEC is still -92% from its $371 ATH, so it has huge room to grow once price has broken the more local range (1.0 level). If the last few months are an indication of the kind of support it has then it's a very good sign IMO. The local range that is
by ProR35
2
Bitcoin - Time to buy again!Finally, Bitcoin broke the symmetrical triangle and the price can fall to the support zone. also 53k is a good price to buy again!!! ✨Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
37
Bitcoin - Time to buy again!As I mentioned last year, Bitcoin could return to its peak, and it has. Now, as you can see, Bitcoin is in a cup and handle pattern on the weekly timeframe. This can be an incredibly strong signal for a price increase. If the breakout happens, Bitcoin's price could reach $125,000 in the new year, which is not far-fetched, just like the AB=CD pattern. previous Analysis ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard .💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
Chart for trading on time frame charts below 1D chart Hello, traders. If you "Follow", you can always get new information quickly. Please also click "Boost". Have a nice day today. ------------------------------------- This is an indicator created for trading on time frame charts below 1D charts. Therefore, there is nothing to explain. This is because trading should be conducted according to your own trading strategy or response strategy. However, I hope that it will be a reference material that allows you to create a trading strategy or response strategy that suits you by looking at the points where you can start trading or the points where you can respond. To use this chart, click the three dots below this idea and click Grab this chart. --------------------------------------------- The basic trading method is as follows. 1. The BW 0 line or BW 100 line is the standard line for trading. Therefore, to start trading for the first time, you will trade with a buy (LONG) or sell (SHORT) position depending on whether these two lines are supported. 2. The Mid (50) line is the position conversion line. Therefore, when trading with a sell (LONG) or sell (SHORT) position, if you touch the Mid (50) line, you should proceed with a split transaction or liquidate depending on the situation. 3. The High (80 Down), Low (20 UP) line plays the same role as the Mid (50) line, but it is a line for the main purpose of a split transaction. Therefore, in the case of a low time frame chart, it may be more helpful to deactivate the High (80 Down), Low (20 UP) lines. - The additional trading method is as follows. 1. If it falls below the BW 0 line, it is likely to lead to a stepwise downtrend. 2. If it rises above the BW 100 line, it is likely to lead to a stepwise uptrend. Therefore, if 1 and 2 occur, you should conduct split trading near the Mid (50), High (80 Down), and Low (20 UP) lines. To determine this, it is recommended to conduct trading by referring to the movement of the StochRSI indicator. If the StochRSI indicator has entered the overbought zone, it is highly likely to lead to an additional rise. Therefore, if it falls in the overbought zone and changes to a state where StochRSI < StochRSI EMA, the price is likely to continue to decline. Conversely, if the StochRSI indicator has entered the oversold zone, it is highly likely to lead to an additional decline. Therefore, if it rises in the oversold zone and changes to a state where StochRSI > StochRSI EMA, the price is likely to continue to rise. With this interpretation method, I recommend using it as a basis for judging how to proceed with a transaction when the price is located near the BW 0 line and the BW 100 line. - When trading, it is recommended to proceed based on the trend of the 1D chart. In other words, if the 1D chart maintains an upward trend, it is recommended to proceed with a transaction to maintain a long position. If you need to trade in the opposite direction of the 1D chart trend, remember that a short and quick response is required. In order to see the overall trend, the M-Signal indicators of the 1M, 1W, and 1D charts have been added. For scalping or day trading, the 5EMA indicator of the 1D chart has been added. - Have a good time. Thank you. --------------------------------------------------
by readCrypto
BTCUSDT (bitcoin): a perspectivehello guys. Price Action Overview: The chart shows Bitcoin within a rising wedge pattern, with the price nearing a key resistance level. A potential pullback is expected in the near term, as highlighted by the downward arrow, before the price potentially retests lower trendline support. Bearish Scenario: The price could see a correction from the current level back to the 58,600 - 57,800 USDT support zone. This is suggested by the wedge pattern, often signaling a potential reversal or pullback before a larger move. Bullish Scenario: If the price finds support at these levels, we could see a bounce, leading to a breakout above the wedge towards 68,000 USDT, as indicated by the larger upward arrow. Market Sentiment: In the short term, traders should be cautious of the possible pullback, but the larger trend remains bullish if the wedge holds and the price respects the lower trendline support.
by melikatrader94
19