RUNE: Poised for an Imminent SurgeI’m waiting for this setup as it still shows strength. CRYPTOCAP:RUNE
There are two demand zones at the bottom, with a breaker and an S/R flip in play.
I’m anticipating that everything will become clearer after the FOMC meeting, so adjust your entry risk accordingly. Be prepared for potential whipsaw action before the market settles in any direction.
My initial target is towards the most recent highs, but if conditions improve, I’ll keep a substantial portion of the position running.
Btc-e
XRP Dying Star?! Or Rising Again!?XRP has been dying for years
Relative to the space XRP has been a bad hold. In the last bull run it underperformed BTC and of course many others. It also underperformed its own previous high.
Pattern is similar to previous mega run
The lower high pattern is similar to what it made before its last mega run in 2017. It did top out late and was a market topping signal overall.. so even if not an XRP fan its worth keeping an eye on.
How StochRSI is initialized is the point of interestHello, traders.
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Have a nice day today.
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(USDT.D 1D chart)
USDT dominance is showing a decline below the important section.
Therefore, we need to check whether the M-Signal on the 1D chart can follow and create a state where the M-Signal on the 1M chart > M-Signal on the 1W chart > M-Signal on the 1D chart.
Since the StochRSI indicator has entered the oversold section, if it rises, the key is whether it can meet resistance near the M-Signal on the 1D chart.
In order for the coin market to start an upward trend, it is expected that the USDT dominance will have to fall below 4.97 and be maintained.
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(BTCUSDT 1D chart)
In fact, even if the current price position, that is, 63118.62-64000.0, is supported and rises, I don't think it's a good idea to make new purchases.
From the perspective of a breakout trader, it is a position worth challenging, but it is a position that requires a quick response and decision.
StochRSI has not yet initialized.
Therefore, it is showing that it is not strange for a decline to occur at any time.
I have talked about the entry point to start trading several times, so I will not talk about it here.
-
If it is supported and rises near 63118.62-64000.0, it is highly likely to turn downward while touching near 65920.71-67614.25.
However, if StochRSI is initialized, it may show an upward trend as it continues to a new trend.
Therefore, what is important to look at now is how to initialize StochRSI.
Initializing StochRSI means that if StochRSI has entered the overbought zone, it must touch the oversold zone.
This initialization does not necessarily mean that it will lead to a large decline.
Therefore, it means that StochRSI may be initialized while showing support near 63118.62.
-
Therefore, the area near 61099.25 is an important support and resistance zone.
This is because the M-Signal of the 1D, 1W chart is currently passing by and the BW line is formed.
Therefore, the entry area is around 61099.25, that is, when it shows support near the BW line or the M-Signal of the 1D, 1W chart.
-
This volatility period is until September 29.
The next volatility period is around October 11.
Therefore, the point of interest is what kind of channel (rising channel or falling channel) the currently drawn trend line will create in the 'X'.
-
Have a good time.
Thank you.
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- Big picture
It is expected that a full-scale uptrend will begin when it rises above 29K.
The area 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
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(BTC) bitcoin "triangle"The directional triangle pattern on BTC looks as it does from the image included. Each day the triangle slightly changes towards progress either positive or negative depending on the unusal observations studied by traders wealthy and poor. Whether or not people care to note about the subject of the traditionally poor trader and the impact millions of poor traders have on the study of investments compared to one sole giant bank, hedge fund, or other considering how many poor traders follow trends more than super wealthy traders. The rich do not need to care about trends as much as poor traders hypothetically due in part in the way the superrich creates hypermarket bubbles that poor traders follow, study, and observe. BTC is now falling trap to the conversations by many to be considered lost to the hedge funds, i.e. Blackrock, etc.; why not a poor man's trade instead of the million-dollar man, the millions of dollars by many humans all directly influencing the drive and spirit of investments through small exchanges of money that amounts to large increases and decreases in trend. When market studies are done on the largest investor trades it is easy to answer all the questions using one super trader investment type compared to the millions of individual trades all happening in smaller increments being much harder to study. As with all cryptocurrency trades BTC is worth many thousands of dollars per share yet the trades people make do not have to equal the amount of that per share amount and the price does not need to split to allow for more investments to reach the price. This factor in cryptocurrency is what makes cryptocurrency special compared to the traditional stock markets and reason for why cryptocurrency is not a security, commodity or any other traditional revenue building stock. The reason people are lost on stock trading is due to the fact that the most successful companies often cost the most per share and this makes it more difficult to invest in. When comparing this to cryptocurrency any cryptocurrency traded as available to any person of any amount of investment given they pay the transaction fee with doing so using defi services like Uniswap, or otherwise, if using a centralized exchange with reduced fees for transactions then the outcome is the possibility of trading a multitudinous of cryptocurrency coins and tokens without the concern over the price per share being more in tune with the amount being physically spent allocated directly to the buyers own holding value with investment over the restrictions found in traditional stock industries that hold the buyer to bid at a price strictly on the study of price per share. In more recent years Robinhood exchange unveiled the feature to trade microshares of large industry stocks from the NYSE and NASDAQ. This feature did unlock some greater reaches to the best DJI companies and since then the companies known to be DJI companies continue to gain in popularity, trend and momentum. True, cryptocurrency has seen better days in the past and in the past two years found a poor man's bog so why give all the credit to investment firms, hedge funds, and banks a plenty as a matter fact knowing fully well the losses incurred during the past two years following the greatest rise in cryptocurrency history all groups were involved. There is no reason to put the blame on the people and give all the credit to the bankers, hedge funds, and wealth class of people. When the price of cryptocurrency lost all groups lost. As the cryptocurrency trades rise and the prices increase all groups succeed, all those involved that is. Anyone who has ever traded has surely had the feeling of wishing they would have invested more in the past based on what they see in the present. Well guess what, today is the present and one day today will be the past, so what is your move?
Bitcoin Analysis==>>Bull Trap==>>Short termBitcoin is moving near the Resistance zone($64,140-$63,820) and 200_SMA(Daily) .
I expect Bitcoin to at least drop to the Support zone($62,720-$62,350) after it passes a Bull Trap. And if the Support zone($62,720-$62,350) breaks, we should wait for Bitcoin to attack the lower line of the ascending channel .
Note: If Bitcoin breaks the Resistance zone($64,140-$63,820), we can expect more pump to the next Resistance zone($66,130-$64,900)
Bitcoin Analyze (BTCUSDT), 15-minute frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; 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.
Weekly Cup and Handle Targeting 124kJust noticed this, no drawing here - TradingView's built-in cup and handle indicator is drawing a bullish cup/handle on the weekly Bitcoin chart, targeting 124k approx.
Neckline is around 67k, which should be our next target if Bitcoin can hold a local support level between 60-62.5k and not lose 56.5k on the weekly.
Here's what that looks like on the linear chart, chart above is log:
Good luck!
BTC Weekly ReviewMonday
- AMD (Accumulation, Manipulation, Distribution): The week starts with a classic AMD setup. Price begins with accumulation in a range, leading to manipulation and eventual distribution later in the week.
- Accumulation Zone: During Monday, BTC consolidates in an accumulation zone, moving sideways before a larger move.
- London High (0415): The London session’s high is marked, showing where the market hits a peak during the early session.
- Turtle Soup (1030): A Turtle Soup pattern appears on Tuesday at 1030, indicating a reversal after a false breakout. This is a liquidity-taking strategy.
Tuesday - Wednesday
- Sunday High: The chart references the high from Sunday as an important level of resistance.
- Wednesday Continuation: Price continues the trend from Tuesday into Wednesday, following a bullish expansion.
- Expansion: After the Monday-Tuesday accumulation, price breaks upward in an expansion phase, forming a new high.
- 0930 Turtle Soup: Another Turtle Soup setup appears at 0930 on Wednesday, signaling a short-term reversal before the price continues its uptrend.
Wednesday
- BISI (Buy-Side Imbalance): There’s an imbalance in the market, where buy-side liquidity is dominant, causing price to react and continue its upward momentum.
- Failed MSS (Market Structure Shift): A potential market structure shift happens but fails to break down, and the market continues moving higher.
- Accumulation Below Opening Price: On Wednesday, BTC accumulates below the opening price, indicating a potential bullish breakout later in the day.
- MSS (Market Structure Shift) at 1330: A market structure shift occurs at 1330, breaking previous highs/lows to indicate potential trend changes.
- NY Session Low: The low of the New York session is highlighted as a key level of support.
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Thursday
- Failed Market Structure Shift: Another failed market structure shift, where the market attempts to break lower but holds support.
- 1000 Turtle Soup: A Turtle Soup pattern appears near the week’s end, signaling another reversal after liquidity is taken.
- Price Continuation: The chart indicates the price stabilizes after these setups, moving into a tight range toward the end of the week.
Key Concepts Used
- Turtle Soup: This pattern represents liquidity grabs where the price hunts stops before reversing.
- AMD (Accumulation, Manipulation, Distribution): The market follows the classic cycle of accumulating orders, manipulating retail traders, and finally distributing.
- MSS (Market Structure Shift): These shifts signal potential reversals when a key high or low is breached, but not all follow through.
This analysis highlights the cyclical nature of the market, showcasing accumulation zones, liquidity hunts, and trend continuations. Traders can use this framework to predict market behavior and structure their trades accordingly.
PEPE Long Spot Position (EMA Support Retest)Market Context: PEPE is currently finding support at the 21 and 200 daily EMAs. A close above the 200 EMA would serve as confirmation for entry.
Trade Setup:
Entry: Long spot position at $0.0000082.
Take Profit:
First target: $0.00000970
Second target: $0.000011
Third target: $0.0000125
Stop Loss: $0.0000075 (daily close)
⚡ This setup aims to leverage EMA support for a high-probability trade.
#PEPE #Crypto #EMAs
Chart Analysis and Trading StrategyHello, traders.
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(Trend-related)
The M-Signals on the 1M, 1W, and 1D charts have converged and are showing an upward trend, and are currently showing signs of converging again.
Therefore, if it falls this time, the key issue is whether there is support near the M-Signal on the 1M chart.
Currently, the M-Signal indicator on the 1M chart is passing around 52K.
Before that, we need to check whether there is support near the M-Signal on the 1D and 1W charts, which are passing around 60K.
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(Trading-related-1)
HA-Low, HA-High indicators are indicators created to conduct trading on the Heikin Ashi candle chart.
The creation of HA-Low means that a low point range has been formed.
Therefore, if it shows support near HA-Low, it is a time to buy.
If it falls below HA-Low, there is a high possibility that the low point will be renewed, so a step-down trend is likely to occur.
The creation of HA-High means that a high point range has been formed.
Therefore, if it shows resistance near HA-High, it is a time to sell.
If it rises above HA-High, there is a high possibility that a step-up trend will occur, so a step-down trend is likely to occur.
Therefore, you can receive a basic range to start trading.
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(Trading-related-2)
In order to conduct a transaction, support and resistance points drawn on 1M, 1W, and 1D charts are required.
To do this, we used various indicators to display support and resistance points.
The support and resistance lines provided in this way indicate that the longer the horizontal line, the more faithfully it can perform its role as support and resistance.
The horizontal line displayed on the bottom chart among the three charts above is displayed by the BW indicator.
The BW indicator is an indicator that comprehensively evaluates the MACD, StochRSI, CCI, PVT, and suerTrend indicators.
Therefore, I think it is highly reliable.
-
(Trading-related-3)
The BW indicator mentioned near Trading-2 is actually an indicator included in the TS-BW DMI indicator.
This BW indicator is designed to draw a horizontal line on the price candle when it forms a horizontal line at the lowest point (0) or highest point (100).
Therefore, you can proceed with trading depending on whether there is support at this horizontal line.
If the BW indicator is created at the lowest point (0), it is likely to form a bottom section, and if it is created near the highest point (100), it is likely to form a high section.
At this time, you can check whether the StochRSI indicator is in the oversold or overbought section and the correlation between StochRSI and StochRSI EMA to gain time to respond to an uptrend or downtrend.
Since the BW line is currently created below the candle, it must fall below the BW line in order to turn into a downtrend.
Therefore, when it falls below the BW line, you need to check whether the StochRSI indicator has fallen in the overbought zone or is maintaining the state of StochRSI < StochRSI EMA.
If so, you need to determine that there is a higher possibility of a downtrend and create a response strategy.
-
(Trading-related-4)
The auxiliary indicators added this time are DMI and OBV.
However, it is not easy to check these two indicators separately.
When interpreting the two indicators, subjective thoughts are constantly added, leading to incorrect interpretations or taking a long time to interpret, making it difficult to respond quickly in real time.
Therefore, we have comprehensively presented the important interpretation methods of the DMI and OBV indicators.
If it rises from the 0 point, it means that the upward trend is strong, and if it falls, it means that the downward trend is strong.
Among them, the -2 ~ 2 section can be interpreted as forming a box section, that is, a sideways section.
Therefore, the newly added DMI+OBV can be considered as a method of interpreting the CCI indicator.
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Looking at the above, you may think that you can trade well, but when you actually trade, you may feel that it is not going well.
I think this is because you do not have a trading strategy that fits your investment style.
To create a trading strategy that fits you, you must have a concept of the three things above:
1. Investment period
2. Investment size
3. Trading method and profit realization method.
In other words, you start trading thinking that you will conduct day trading as the investment period, but as the trading time passes, the problem is that the investment period is gradually extended to the short term and beyond, not day trading.
In addition, you should distribute your investment funds according to your investment period, but if you do not do so, investing a lot of investment funds in one coin (token, stock) and creating an imbalance in your trading is also a problem.
The investment scale of scalping or day trading and the investment scale of the mid- to long-term are bound to be different, but by using the same concept, you will create a situation where you can no longer proceed with the transaction.
In other words, this refers to the phenomenon where you end up with 0 cash, which prevents you from proceeding with the transaction you intended and ends up proceeding with the wrong transaction.
To do this, you need to think about how to buy, sell, cut losses, etc. when trading and how to make a profit.
To do this, you need support and resistance points drawn on the 1M, 1W, and 1D charts.
Then, you use various auxiliary indicators or chart tools to check whether there is support at these support and resistance points and whether it is a time for trading.
The most commonly used ones are the price moving average, trend line, and Fibonacci ratio.
Since these indicators and chart tools are created after the price movement, they can all be considered lagging.
So, I would not say that auxiliary indicators such as RSI, StochRSI, MACD, CCI indicators are lagging indicators and therefore do not need to be used.
Ultimately, the decision to proceed with a trade is determined by how well it reflects your investment style.
Therefore, even if the chart analysis is interpreted in a completely different direction, you can reduce losses or even gain profits depending on your trading strategy.
Therefore, rather than investing a lot of time in chart analysis, you should figure out how it fits your investment style and think about how to reflect it in your trading.
So, rather than worrying about whether the current price will rise or fall, you should think about how to respond when you start trading at the support and resistance points drawn on the 1M, 1W, and 1D charts.
-
Have a nice time.
Thank you.
--------------------------------------------------
- Big picture
The real uptrend is expected to start after rising above 29K.
The area 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
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ONDO BREAKOUT Since the beginning of June ONDO has been in a downtrend that saw a -66% move to the downside. Now 111 days later price has broken out of the trend channel, showing a +15% move from the breakout.
The daily candle is currently trying to close above the 1D 200EMA, a convincing close above the MA would be extremely bullish having now cleared the major resistances and the trend is flipping bullish.
Bullish targets would be:
- Local high (LTF) $0.808
- Daily resistance (1D) $0.901
- Key S/R level (1D) $1.048
- ATH $1.50
Stop Loss:
- Local low (downtrend continuation) $0.58
ONDO being one of the standout RWA projects has a great R:R here for the next 6-12 months. Definitely a coin worth keeping an eye on.
Sep.17-Sep.23(BTC)Weekly market recapLast week, the Federal Reserve kicked off the rate-cutting era with a hawkish 50 basis point cut. Although the CME had previously predicted a high probability of a 50bp rate cut, the fact that only one committee member voted for a 25bp cut while all others opted for 50bp was beyond market expectations. Following the announcement, almost all financial assets, except for the U.S. dollar, showed bullish trends.
After the rate cut, the value of the U.S. dollar will decrease, which will make stablecoins in the crypto industry more sensitive. They will either hold BTC to mitigate the impact of dollar depreciation or opt to hold other financial assets. Therefore, we anticipate that market volatility will significantly increase in the future.
Last week, BTC ETFs experienced net inflows for a period, but as the rate cut event cooled down, traditional capital inflows gradually declined. The ETH ETFs performed even more sluggishly, showing significant net outflows as of yesterday. If traditional funds fail to continue flowing into the market, it could lead to capital outflows within the market.
BTC saw further rebound last week, with the price breaking through the established support level. However, last week's trading volume was not significant. This can also be seen in the WTA indicator, where the blue bars representing whale activity are sparse. The ME indicator maintained a bearish signal, but the continuous rise is gradually narrowing the yellow zone.
In conclusion, we believe that BTC may fluctuate this week, with a higher likelihood of an upward trend than a downward one. We raise the support level to 68,000 and maintain the resistance level at 52,500.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Is Bitcoin on the Verge of a Major Breakout?Yello, Paradisers! Did you catch #BTCUSDT's bounce from that double bottom support? If not, you might be missing out on the start of a major trend reversal! Here’s what you need to know right now before it's too late.
💎#Bitcoin has bounced back from the double bottom support band, forming a strong bottoming structure that often signals the beginning of a trend reversal. Right now, Bitcoin’s key metrics indicate we are standing at a crucial breakout point, with the price facing pivotal resistance between the $65,000 to $65,800 levels. This is the zone that bulls must conquer to transition Bitcoin from simply bullish to hyper bullish.
💎Once this resistance level is broken, Bitcoin is expected to surge toward the $70,000 psychological barrier. However, caution is advised as the range between $70,000 and $72,000 presents a strong resistance zone, where we could see significant profit-taking. This region is the major turning point for Bitcoin to be open towards the All-Time High Approach. Strength above 72,000 puts bulls in a major contest for a new yearly ATH level.
💎The EMA bands are also showing a positive shift, turning upward once again and suggesting that we may be entering a changing market environment. On the downside, intra-day supports are found at $62,350 and $60,700, providing some immediate protection. The key base support lies between $59,800 and $58,800, which is crucial for maintaining bullish momentum.
💎All eyes are on these levels—Bitcoin is positioned for a significant move, and how it handles these critical resistance points will determine the direction of the trend in the coming weeks.
Remember, Paradisers, patience and discipline are key here.
MyCryptoParadise
iFeel the success🌴
technical analysis and trading plan for Bitcoin (BTC/USDT)Technical analysis and trading plan for Bitcoin (BTC/USDT) by Blaž Fabjan
Bullish Pennant Formation:
The chart shows a bullish pennant pattern, which typically indicates a continuation of the prior upward trend. This suggests that once the consolidation within the pennant breaks to the upside, there could be a further rally.
Support and Resistance Levels:
Support Level: Around $61,758.48, which is holding the price within the consolidation.
Resistance Level: The next significant resistance is around $64,591.15.
If the price breaks the resistance of the pennant, it could target higher levels, potentially leading toward $68,556.87 as a bullish target.
Volume:
There’s a moderate amount of volume, but a volume breakout would be needed to confirm the movement in either direction.
Indicators:
VMC Cipher B Divergences is showing some green dots indicating bullish divergence, which further supports the potential for an upward breakout.
RSI (Relative Strength Index): The RSI value is around 53.94, suggesting that the market is in a neutral zone. It's neither overbought nor oversold, giving room for movement in either direction.
Stochastic Oscillator: Around 36.45, slightly on the lower end, signaling that Bitcoin might be in an oversold position on the short-term, indicating a potential upward reversal.
Trendline Projection:
The image also indicates an upward price projection beyond $67,000 if the pennant breaks to the upside, aligning with the bullish sentiment.
Trading Plan:
Buy Scenario (Bullish Breakout):
Entry Point: Consider entering a long position if Bitcoin breaks above the upper trendline of the pennant and surpasses the $64,000 resistance level with strong volume confirmation.
Take Profit Levels:
First target: $64,591.15 (immediate resistance).
Second target: $68,000.
Final target: $68,556.87 (upper resistance).
Stop Loss: Place a stop loss just below the $61,758.48 support level or just below the lower trendline of the pennant.
Sell Scenario (Bearish Breakdown):
Entry Point: If Bitcoin breaks below the lower trendline of the pennant and the $61,758.48 support level, it might indicate a bearish reversal. Consider entering a short position.
Take Profit Levels: Look for a price drop toward $60,301.68 or lower.
Stop Loss: Place a stop loss just above the pennant resistance level around $63,000 to limit risk.
Conservative Strategy:
Wait for a clear breakout from the pennant either way before entering any trade.
Watch for confirmation through volume increase, as this would validate the direction of the breakout.
Final Notes:
The chart leans toward a bullish continuation, but confirmation from volume and a breakout from the pennant are key before making any trades. Always manage risk carefully by setting stop losses and taking partial profits along the way.
I hope this information assists you in making more informed decisions during your trading activities. Enjoy! Blaž Fabjan
Monthly chart bullflag has a breakout target around 115kIhave arbitrarily placed the measured move line for the bullflag breakout in the month of October but there’s always a chance it stays in the flag longer than that, in which case the measured move line would get moved over to the right and slightly lower each time it does. If it breaks up by october and validates that breakout the measured move target will be around 115k. *not financial advice*
BTCUSDT RSI EMA VWMA Signals with Profit Target for CryptohopperThis strategy combines the Relative Strength Index (RSI), Exponential Moving Average (EMA), and Volume Weighted Moving Average (VWMA) to create buy and sell signals, along with a profit target, for cryptocurrency trading. It is specifically designed for use with Cryptohopper through webhook alerts.
How It Works:
Buy Signal: A buy signal is triggered when the RSI crosses above the lower threshold (user-defined) and the 9-period EMA is above the 20-period VWMA.
Sell Signal: A sell signal is triggered when the RSI crosses below the upper threshold (user-defined).
Profit Target: Once a position is opened, the strategy sets a profit target based on the user-defined percentage. When the target is reached, the position is closed.
Indicators Used:
RSI (Relative Strength Index): A momentum oscillator measuring the speed and change of price movements.
EMA (Exponential Moving Average - 9 period): A moving average that gives more weight to recent price data.
VWMA (Volume Weighted Moving Average - 20 period): A moving average that takes volume into account, giving more weight to periods with higher trading volume.
Features:
Generates buy and sell signals based on RSI and moving average conditions.
Allows users to set a profit target percentage for each trade.
Alerts can be sent via webhooks to integrate with platforms like Cryptohopper to automate trading.
Alerts are provided for buy, sell, and when the profit target is reached.
How to Set Up Alerts for Webhooks:
Apply this script to your TradingView chart.
Set up alerts for the buy and sell conditions.
Enter your Cryptohopper webhook URL in the alert configuration to automate trade execution.
Disclaimer:
This strategy is for educational purposes only and should not be considered financial advice. Trading cryptocurrencies involves a high level of risk, and users should do their own research or consult a financial advisor before making any investment decisions.
BTC/USDT 4HOUR CHART UPDATE !!The recent 4-hour BTC/USDT chart update shows that Bitcoin attempts to break the downward trendline resistance of around $64,000. However, the projection indicates a downward move, potentially pushing the price toward the support zone near $50,500, which aligns with the lower green trendline. This suggests that Bitcoin may face selling pressure after failing to break this resistance, which could lead to a broader correction. How does the price react to the $63,000-$64,000 range? A successful breakout could invalidate the downward projection, while failure to sustain above $64,000 could accelerate the decline toward the projected lower support levels.
Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
BITCOIN aiming straight at 80000 if this Resistance breaks.Since the March Top, Bitcoin hasn't broken any previous Lower High Resistance.
Resistance A has rejected any breakout attempt each and every time.
Bitcoin is at the moment testing the latest Resistance A level and if broken, we will have the first long term bullish break out signal in months.
The August-September price action looks like the January-February fractal that broke upwards aggressively to form the March top.
If Resistance A breaks, we expect a similar rally to reach at least 80000 (2.0 Fibonacci extension).
Follow us, like the idea and leave a comment below!!