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BTC CONFIRMED BULLISH FlAG BREAKOUT.📊 #BTCUSDT (BITCOIN) 💹 Time Frame : 4H (Update) ➖➖➖➖➖➖➖➖ 🟡BITCOIN breaks the Bull flag pattern in the upward direction and also was able to close the Daily candle above EMA 20. This is a good sign for the market. The next major resistance is (43500$ - 44500$) area. The local support is (41000$ - 42000$) area. Let's wait for the US market to open and see if BTC is able to hold above the 42000$ area then we see more upward movement. This analysis will be updated
by Trader_Needs
4
A HUGE CORRECTION IN BTC ?There might be a huge correction in BTC - 1/4 Hours Analysis based on Supply Demand & Wyckoff, Price Imbalance, Structure - 1 Hour Distribution Wyckoff Formed - UTAD had played out - Wait for LPSY to form ( retest and confrmation) - Short at LPSY (scale down to 1-5 mins timeframes for better risk rewards entry) - Take Profit at 1/4 Hours Demand (could partial or conservatively, take all, there are many imbalance and supply demand have not mitigate, signs show price moving too quick) - Whale might want to dip in lower price -BTC consilidate in a long period and pump up quickly lately, sign shows Whale manipulation is high, and they might want to push price lower and dip in future
by ivt6645
#BTC is at crucial point. This is where you sell BTC.Welcome to this quick update. To be honest things aren’t looking good atm. Observe the chart carefully. We did broke down below the triangle but only in lower time frames. It can end up being a WICK in a daily candle close which matters the most. Keep in mind it’s really important for BTC to maintain the 34k level. If you’re holding btc better to keep an SL around 34300 level. Previously we bounced from the 34800 level. It must hold if it doesn’t this chart will get invalidated and we can see some lower price targets. Keeping in mind the current fear in the market We can get surprised too. Let’s wait for some action on Monday. Break and close above the 43k level could trigger a momentum for another bullish rally. Too soon to say anything though. SO IN A NUTSHELL : Close below 34k level bearish Close above 43k level Bullish Do hit the like button and share your views on the comment section. Stay safe. #PEACE
by Cryptorphic
13
Critical time for Bitcoin aheadBitcoin has completed 5 wave pattern and now it is at a very critical stage. Luckily after point E, lower part of the triangle manged to hold selling pressure and bounced back up. Now on the chart it is very critical for Bitcoin to break above the upper part of the triangle which will be decided the marked critical zone. If bitcoin manage to break and stay above that critical zone, it will continue in an upward trend. However if fails to break or hold upper part of the triangle then Bears will be in control and Bitcoin might potentially fall back to 29K level. Next couple of days are critical for Bitcoin. If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks. Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
by Manjyot
BTC/USD : Low TF overview BITSTAMP:BTCUSD Hello everyone 😃 BTC is forming a triangle into a rising wedge. There is a bigger rising wedge also. 📍 You can reach my last idea about BTC's movement on Related Ideas at the end of caption ! Majority for movement is still bullish, How ever funding is high and most of positions are being short.. On my personal view; I will wait for a confirmation after current FIBBO time-zone. I'm still looking for minor dip at 14th May around 40K !! Possible directions for BTC on next 4 days is : - Reaching major rising wedge's higher line and then may reversal movement happen - Reaching 66K level on FIBBO extension and then may reversal movement happen - Being rejected below current rising wedge and retest historical bearish trendline and then we may see the continuation of downtrend movement I'm still predicting on my last exclusive BTC's analysis, How ever these are all for mid-term. 📌 It could be better to see a minor dip before real top around ~200K by the end of 2021... By the way, As we are into bull market, Every short idea is risky ! But I'm talking about important scenarios like : 1️⃣ Multiple bearish divergence on Total market cap 2️⃣ Major pivot points based on FIBBO time-zone 3️⃣ Market is extremely overheated 4️⃣ Reaching 100% level on FIBBO extension 5️⃣ Reaching the final fifth upward wave of Elliot impulse wave 6️⃣ BTC's market is in the greedy stage. And many more factors that can confirm our last analysis for mid-term correction for BTC ! 🔴 Mentioned directions on this chart are not valid, I just want to make it more clear for scenarios... Attention: this isn't financial advice we are just trying to help people on their own vision. Have a good day! @Helical_Trades
BITSTAMP:BTCUSD
by Helical_Trades
12
BITCOIN Bull Pressure Incoming,Short Squeeze next($60K New TA)Like And Subscribe(Thanks for the support). It is no co-incidence that we are seeing serious battle going on between buyers and sellers, on what direction Bitcoin price should take from here next. This is not new after a strong sharp upward move from 20k range to 40k range, we see the buyers white trend line support being constantly attacked by the sellers (bears) and fearlessly defended by the Buyers(bulls). But looking closely we see that even though the sellers are fighting hard, price doesn't seems to move any farther down but instead we watch as Bitcoin Buyers strength keep growing , bulls are holding tightly to the Bullish continuation pattern about breaking out called the Bullish Pennant(this is a trading range or consolidation pattern.) At this point it feels fearful as price keeps going back and forth but as long as the buyers trendline is respected, expect to see an explosive measured move to the upside as a result of equal measured target of the pennant flag pole. What is a pennant and how do you trade it? A bullish pennant simply represents a continuation pattern that forms to mark a short term pause in the movement of a price halfway through a strong uptrend, there by giving you a trader the opportunity to Buy and join the trend. It is a continuation pattern because over 85% of the time the trend will continue on it way up, the same direction before the pause occurred. This is what this pause looks like on the Weekly chart This means the pause is temporary and that the sharp climb in price would resume after that brief period of consolidation, when bulls gather enough energy to take the price higher again. Bullish pennants resemble a triangular flag as the price moves sideways, making gradually lower highs and higher lows. the major characteristics is the flag pole, this is represented by the move before the pause occurred. How do you trade a bullish Pennant? like I stated earlier that for a Bullish pennant to form, price will first need to make a strong sharp movement to the upside. This first strong price upward movement is called a flag pole and its size is important when you are calculating where to place the profit target for your buy trade position. Here are my simple easy methods for trading a Bullish Pennant. Please read my previous post if you are interested on the 3 strategy for trading a range. The current support at 34560 all the way to 33600 area is clearly a buy zone that the bulls are likely to defend strongly, If the sellers succeed to break it and make their way below to 32k , then it will be tough crack and bye bye to bulls, but if instead the white trendline hold up and we get a bounce above 39k, that will be a bye bye bears time as next will be short Squeeze. ones the current bull white trendline holds we will see an equal measured move same as the height of the flag pole to the upside, this happens to be exactly the $60k range move
Long
by MachiavelliTrader
3
Bitcoin Price Today Full Analysis & What To Expect in New weekLike & Subscribe(Thanks for the support). OH! Bitcoin Trading Ranges can be very Mean, especially if you are new to trading because in so many ways it can lead to you loosing your mind if you are ever caught in such trading conditions. You feels like you always miss the pump and when you finally see a pullback, and jump straight in (FOMO) that is when the trading ranges always begin🤯 price starts acting funny, going up and down the same price range for days, 😰You tried to hold on but each time price moves, your heart moves with it. Finally you decide to give up, take the loss, only for price to sprint back above your entry. Sounds familiar? To understand trading ranges, I will start by Explaining what a trading range is. What is a Trading range? A trading range simply represents the period of time in a market when buy power is equal to sell power thereby forcing price to be compressed in a particular area on the chart this is also known a s consolidation or sideways movement. but what could be the cause of this you may ask, it is simply because of confusion in the minds of traders if they should be buying or selling at that price area, this leads to a form of dragging between buyers and sellers of who will take charge of the next direction of price. The price is then contain between two walls(trendlines), The first is located above the price by connecting the top of the candlesticks called "resistance" this act as a roof or Barrier stopping price from moving further, The second trendline is located below the lows of the candlesticks connecting the low of the candles called a "Support" acting as a floor area where price bounce of after hitting the roof.Here Volume play an important role for a break off the trading range to occur. in other words this is like a battle front where the buyers and seller clash, you can call it area of pure confusion, For a trader to make profit he/she has to first determine who will be in charge of the next price move direction , in other to successfully trade to make profit, this only means that if buyers win, everyone will jump in a buy trade position leading to more upside but if sellers win instead, then everyone will focus on selling. This simply means that only one of the two can succeed in any trading range, this is the major cause of uncertainty in the market during a consolidation Trading ranges which mostly occur after a stretched trend move in price, it can last for short time and long term sometime close to a year or more depending on the move that precedes it. When a trading range occur, one of this is playing out in the back scene * Accumulation(means buyers are buying more than sellers and even though price has not move it shows clear buy pressure and and price will end up breaking Here is a view on 1hr chart of a short time sideways move Here is an example of a long time trading range * Distribution(here sellers has the upper pressure which only means the supply(sell) power is greater and price is likely going to break to the down side) The bitter truth is that Over 75% of the time market will be in a range and only less than 25% you will see a clear trend, This is the tiring part that always lead to loss simply because most traders lack the patients. How do you trade a trading range? Many investors look at the duration of a trading range. Like I mentioned, large trending moves often follow extended range bound periods. What this simply means is that as a result of the compression of price in one area for so long, the price breakout , out of that area(range) will be explosive and is most likely to follow the direction of the preceding trading range. Most Day traders frequently use this trading strategy by observing the trading of the first half-hour of the trading session as a reference point for their intraday strategies. Here are my three ways of trading : *1st strategy is to buy the lower trendline area that serve as support and sell the upper trendline that serve as resistance ,here you are expected to exit on the hit of the resistance until a clear breakout is seen, ( the disadvantage of this first option is that when price gets to the resistance you are most likely goin to fail to take profit as chances are high you will expect a breakout.) *The Second strategy is by absolute patience and this requires you standing aside watching carefully to observe and wait for breakout, you buy the breakout( The downside of this strategy is that most times without proper observation or experience, most traders likely end up buying a fake or a tease line breakout only for price to get pullback into the range by the next open candle, because price is always being pulled to the center of every range by some sort of magnet kind of, I call it a vacuum which only increase the confusion in ranges). Here volume most play a very importance role in the confirmation of price move to avoid flash breakout signal. *The third is probably the most secured Strategy with good higher probability of success up to over 65%, here a traders maximum patience is fully required, by waiting for a breakout retest to trade in the first breakout direction. What will happen here is that you allow price to clearly break the barrier then wait for it to come back to that same barrier but then this time form a higher low on the the broken barrier which will now prevent price from falling through . (when there is strong volatility in the market price will skip a retest but 85% of the time, price will retest a breakout area) In the current case of bitcoin, Price is currently in the middle of the range which is acting as our vacuum, This is the vacuum on 1hr chart This vacuum will lead to price seeking support of the lower trendline support at 33k to 32500 support which will be Institutions and market makers hunting stop loss this is how this will most likely happen The support at 32k is likely going to be missed as a result of market makers and institutions buying that support. From this support we could see a clear upside breakout that will crown this bull run all the way to $50K - 54k price range area. Thanks for Reading.
by MachiavelliTrader
10