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Btcforecast

BTC Update!Checking out our Bitcoin daily chart i mentioned we were trading inside of a bullish pennant and yesterday we had a false breakout and a close outside of this pennant, since then we have recovered quite nicely and are moving our way back into this bullish pattern! we do have a ton of work to do though, we are facing resistance at the midline of the bollinger bands, 49K, 50K, 51K and 52K, personally i think a great first step is making our way back and above the 51K mark, this gives us a great base of support and the ideal spot for us to start making some upside rallies, think breaking 50K is very bullish aswell but personally would like to see a break of 51 and 52K before we really jump the gun! A must break for us short term is the midline on the bollinger bands, we gotta get up and above here to gain that bull momentum, doing so effectively opens the door for a climb up the top band and an explosive upside move that is much needed right now. The RSI is coming up steadily and we aren't very far off of the midline, however we are facing resistance coming from the SMA (yellow), this is definitely a must break aswell before we can make that midline push. The reason our midline is very important here is due to the fact that being below it keeps us in a confirmed downtrend or sideways price action, getting up and above while holding this midline puts us back into a confirmed uptrend and relieves some of that downside pressure. now the Stoch RSI which goes hand and hand with the RSI and is also a faster mover, we notice we are on quite the fall to the downside but what interests me are the very possible reversal spots where we could see that upside bounce in turn bringing the RSI and price action along for the ride, we have a couple obvious spots where we could expect to see a bounce, uptrend support leading to the bottom of our zone and aswell as regular support slightly above that! Think the uptrend support is more likely due to it being in the oversold zone and its a bit aways away from the stoch rather than our horizontal support being just below the Stoch RSI! NFA Just my opinion!
COINBASE:BTCUSDLong
by JacobR905
BTC Weekly Update! Bullish Close!Checking out our weekly Bitcoin chart we are still trailing to the downside but we actually had a bullish close on sunday, we managed to climb up and above the 49K mark where we had our weekly close, we have since fallen down below this level but thats not very crucial, we have another whole week to make progress moving back to the upside We just missed out on closing above the 51K level, both last weeks candle and this weeks have wicked up and above the 51K which is a good sign and i wouldn't be surprised to see us make a push for closing above here next sunday! Another good sign that i noticed is we are trading inside of a bullish pennant which historically leads to breakouts to the upside. We are pretty close to the apex point and could see a breakout soon but i would say the longest period before we get that true breakout would be a few weeks, thats the maximum time period before we would be forced to breakout, now we could see some crazy momentum this week which brings us to a breakout point this week but we must confirm with a weekly close above the pennant. We have wicked multiple times above the pennant and even had a false breakout awhile ago so we are effectively weakening the resistance every time we do so, if we were to breakout this week we would be looking at an incredibly bullish close due to the top of the pennant lining up directly above the 51K resistance! Now the EMA ribbons, this indicator even on the daily is a very slow mover but powerful indicator, it shows the bullish or bearish momentum we have over a longer stretch of time. On the Weekly this indicator is very powerful and is still pointing to heavy bull momentum shown by the green ribbons ontop, when things get bearish we see these ribbons squeeze really tight before then flipping to red ontop, and i personally would say we are a far ways away from that happening, what we want to see is the ribbons start to point upwards and begin to spread out even further carrying price action with tons of bull momentum! Now the Wavetrend, keep in mind this is slow but powerful due to us being on the weekly timeframe, we are approaching the midline on this downwards wave but things are starting to look really good, we seem to be flattening out along the midline which is getting me thinking we are getting ready for a reversal and a push into a next bullish wave, the red crosses are getting closer and closer to our actual wave which is what we wanna see in this scenario, and eventually we gotta see that wave cross overtop of the red crosses and that is when we can confidently say we are in the midst of a reversal! Overall looking bullish on the BTC weekly and could be seeing a strong breakout any day/week now with a maximum of 3 weeks before we see a true breakout! Not financial advice just my opinion!!
COINBASE:BTCUSDLong
by JacobR905
BTCUSD Long with 2 confluences List of confluences: With more to form in the coming days. 1: Daily chart key level, which shows the formation of a lower high. We would need a breakout and close above this level (51 967 USD) on the daily chart to confirm a change in market structure and the creation of a new high. 2: Inverse head and shoulder pattern formation on daily chart and H4 time frame. Its more visible on the H4 time frame. We expect visibility to increase on the daily chart in the coming days. Summary: When we look at the BTCUSD weekly chart, we can clearly see that BTC remains bullish. The manner in which price behaves in the next few weeks going into the new year will give an indication whether BTC is starting a bear market or remains bullish. Moving onto the daily chart, the trend is over extended remains bearish. We can see some buyers trying to enter the market, with the creation a lower high formed around the 7 and 8 of December. This shows possibility of the trend turning bullish, which would be in line with the trend on the weekly chart, making for some explosive moves to the upside. The target would be in the region of 68 100 dollars. Targets are set using fibs. We only looking to trade about 60 - 65% of the move with a decent risk reward as there is higher probability of our target getting reached. We do not want to stay in trades too long as anything can happen at any time
SAXO:BTCUSDLong
by NDOBObanks
BITCOIN - Trade Opportunity with Good Risk vs RewardWe decide to openly share our personal trade strategy to show everyone how a good trade is made even in an uncertain market. That said, we want to remind everyone that no trade is without any risk, which is why we should only take trades where the reward is greater than the risk. From a technical standpoint, the lack of money inflow may probably cause the BTC market to extend lower over the very short term. We also see that a support structure near $46K has been formed and therefore, if the market has sufficient buying interest to keep price afloat this price level long enough, then buyers are likely to reverse the short-term trend. A rebound from $46K would most likely retest the nearest resistance that has formed around $56.5K. Given this reason, we decide to personally open a long position from $46.5K with a stop loss set at $45K. We plan to exit our long position from $55K and $56K with a profit ranging between 18% and 20%. However, if the price does not drop to our buy level or perhaps exceed our stop loss level, then we would skip the trade entirely or exit our trade with a small loss of 3.23%, respectively. Please like and share this post if you find value in our personal trade. Thank you.
BITFINEX:BTCUSDLong
by cryptoezvip
4
BTC/USDT 1DAY UPDATEWelcome to this quick BTC /USDT analysis. I have tried my best to bring the best possible outcome in this chart. Hello friends BTC Weekly Candle Close & Bullish Signal BTC One Day Chart Analysis Bullish BTC once more 48500k close is a strength and from here btc will trend bullish from here to break its all-time high Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
3
Altseason Almost Here!!!Taking a look at our bitcoin dominance and we have just recently broken right through that crucial 40% mark and that is a huge deal for the altcoins, realistically we should start seeing some explosive price movements going forward across the board. We definitely want to see our daily candle close below the 40% line as it would be very bearish and with that bullish for altcoins. A close here opens up the door for a breakdown to our first support at aprx 39.5% and then our S2 support which comes afterthat, either way any price action going forward that continues to drop is very positive for the alts! The bottom band on the bollingers as you can see is just below us we actually wicked onto it, the door is open for us to grab onto here and to see a big fall in domiance, historically closing ontop of this bottom band leads to explosive bearish price action just like we want! The RSI is getting crushed fairly badly and thats another great sign going forward, the RSI getting stuck below the midline signals we are in a confirmed downtrend which of course is positive for the altcoins. The interesting thing here though, is that we have tons of heavy resistance above us and it appears they are going to be pretty tough to breakthrough, we have the SMA which we are now below(BEARISH) and then we have two overhanging heavy lines of resistance that will take quite some time to break i personally think! Overall looking very good for the altcoins and if we see this trend continue moving forward we could be leaping right into altseason where i expect to see some explosive massive gains! Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC - WARNING! POTENTIAL DROP TO 20K Hello everyone. MERRY CHRISTMAS! HAPPY HOLIDAYS! and I have a chart for you guys. I hope this helps people and stops people from losing money. I had mentioned in a previous chart that if BTC falls below 48K (which it did) I would turn very BEARISH! I had a very good reason for that, and that is because BTC fell below the bull market support band (21W EMA + 20W SMA). BTC IS STILL BELOW this support band and I DO EXPECT MAJOR RESISTANCE HERE and I DO THINK bears are very powerful here and are setting up a NASTY BULL TRAP. DON'T BE A VICTIM. Lets look at the indicators on the chart. There are MANY MANY youtubers, and other people on social media saying "the bottom is in" and all that good stuff. Everyone points to how it is technically a HIGHER LOW but EVERYONE IS FAILING TO REALIZE THAT BTC FELL BELOW THE BULL MARKET SUPPORT LEVELS. Don't get me wrong, IT DOES look like a bottom however there is SO MUCH RESISTANCE ahead and UNLESS there's some MAJOR CATALYST WHICH BLASTS BTC ABOVE 60K again, then I don't think bulls have enough strength here. The chart is pretty much self explanatory. Notice how on MARCH 8TH 2020, BTC dropped below the bull market support band (BMSB). It is very similar to the recent DECEMBER 4TH drop! It even played out a similar pattern (shown in the YELLOW OVALS) before jumping back above the BMSB. Now look at the GREEN OVALS... This is where BTC starts its downtrend. You can see previously BTC fell below the BMSB yet again, then attempted to jump back above BUT GOT REJECTED RESULTING IN A MAJOR DROP! On the RSI, you can see that rejection happened at the 50 level. BTC IS IN A SIMILAR SITUATION RIGHT NOW! It has fallen below the BMSB and is currently trying to get back above it. NOTICE THAT BTC IS IN A VERY DANGEROUS POSITION ON THE DAILY RSI RIGHT NOW! It is at the 50 level! Nothing is certain however I do believe in wyckoffian logic and it makes perfect sense here. The "composite man" has SO MANY people right where he wants them! Everyone is distracted. BTC put in a "higher low" so everyone feels comfortable buying in... Like I said, this could end up being a NASTY BULL TRAP! Either way I made this chart just so you can be prepared and understand that a 20K BITCOIN IS ABSOLUTELY STILL IN THE CARDS and very possible! There are other indications that are in line with this idea! The daily and weekly RSI shows the DECEMBER 4TH drop as a "LOWER LOW" and NOT a "higher low" reflected by price action. This creates BEARISH DIVERGENCE on the RSI. Also BTC could possibly form a very BIG head and shoulders pattern here very soon which would have very low targets depending on how you position the neckline. The Weekly MACD crossed down and looks pretty bad IMO. This is also in line with my previous BTC chart which I'll leave a link to so you can see even more evidence that a 20K BTC is VERY MUCH POSSIBLE. Well that's what I have today. Hope everyone is well. I WISH YOU ALL A MERRY CHRISTMAS, and HAPPY HOLIDAYS. Take Care. * This is NOT financial advice. This is just an idea based off my experience. Please do your own research before investing or trading.*
BITSTAMP:BTCUSDShort
by Mboersma0324
20
BTC/USD: A Christmas Weekend Study FUNDAMENTAL BACK-DROP *Imho, if there was ever a time to expect fireworks, it's right now. *Weekend trading session for the next ~2 days. Institutions and majority of players are offline for Christmas day and/or weekend. Perfect environment for fuckery. *US holidays, and Christmas in particular, are proven to be powerful market events. (Often see pivots in price/sentiment through these windows). *"Buy when it snows, sell when it goes." - it's that time of year! **Recent CME event (listing ETH micro futures ) on Dec. 6 **Positive reaction from most recent FOMC meeting on Dec. 15 **Recent full moon phase change on Dec. 20 LOWER-TIME-FRAME TECHNICAL ANALYSIS *Structurally, price is trading within a megaphone pattern (making higher highs and lower lows). This implies high volatility in both directions until the megaphone is resolved. *Certainly trading against some key highs right now (top end of the range). In good shorting/selling location right now for people who think this rally into Christmas is bulslhit. HIGHER-TIME-FRAME TECHNICAL CONTEXT *Price is coming awfully close to triggering a major double bottom , drawn off the 1D chart. (The counter-trend rally high following Dec. 4 liquidation cascade). *$51,995 is the level to watch. I'm officially "uber-bull" if we start closing above this level. *Bullish momentum divergence confirmed ( MACD ) and continuing to build on the 1D chart. -- LIKE THE ANALYSIS? Send me a DM . I'd like to build a community of half decent traders and technicians.
COINBASE:BTCUSD
by bitflip01
1
BTC CME FUTURES FALLING WEDGE PLAYING OUT!!!Bitcoin has had a beautiful breakout to the upside of this falling wedge i was talking about last time, previously we saw 2 other falling wedges with the exact same setup as we currently have, a breakout to the upside of these wedges lead to some serious price action of about 60% gains. Due to the market correcting pretty heavily over the past month i expect this falling wedge to play out the same as the previous ones, could be a little conservative on this price predicition but i think the 80K mark is very doable by the end of this pattern playing out. a big confirmation that we need is a push up and above the midline on the bollinger bands with a daily close above, aswell as a daily close above of this wedge but thats looking like its going to happen today regardless. Looking at our last run up we saw a big climb up the top band on the BB's and thats exactly what im thinking is going to happen once we move further up, a break of the midline opens the door for that climb up! A look at our wavetrend we have bottomed out in the buy zone and check out the last time we had a bottom out at this level, right before we had the first run up from the falling wedge the wavetrend bottomed out and we haven't seen that since until now! We are getting a nice curved reversal and keep and mind that this indicator makes smooth transitions rather than jagged reversals and judging just off the recent bottom we had and the beautiful reversal we are currently seeing i think we are due for a masssive run to the upside! Not financial advice just my opinion!
CME:BTC1!Long
by JacobR905
2
BTC Ready To Move Up!Bitcoin has been moving pretty nicely the past few days, we are pushing up and above the midline on the bollinger bands and its looking like we are gonna get a for sure close above here which is a bullish sign and we are approaching the 51K level, if we can get a push up and above here and get a daily close at some point we are going to be really looking good! Another great thing if we closed up and above the 51K is that we would end up directly ontop of that top band on the bollinger bands, this i personally think will spark a massive run to the upside and bring us some much needed momentum. on the MACD we just recently had a bullish cross and we are looking great, seeing growing separation which is perfect, it lessens the chance of us having a near term bearish cross and also gives us some breathing room, what i mean by that is we can afford to have a down day or two without triggering a bearish cross. the wavetrend has seemed to bottom out in the buy zone and we are now starting the push back upwards, due to us being way down in the buy zone for quite awhile i think its pretty likely we are going to see very bullish wave going forward, likely an extended bullish wave before resetting with a small dip, on everything we got a ton of room to move to the upside and i think we are getting set for our next leg up in this bullrun! Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
BTC/USDT 4HOUR UPDATEWelcome to this quick BTC /USDT analysis. I have tried my best to bring the best possible outcome in this chart. Hello friends. btc update told in the previous chart it could jump from $46000 to $49500 as it happened now I think btc will test again on 21ma from here to $47500 and from here btc from 58k to 65k again Could jump to 85k, take new all-time high Thank you Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
BTCUSDT 1D When can and should go long?A lot of inquiries came from you about what's going on with Bitcoin and altcoins right now? , so we'll write a few words with our thoughts and try to answer them. Constructive dialogue is also welcome in the comments under the idea. This idea will be a complement to our recent BTCUSDT idea with the title: "This is what it takes to start the alt season" So, this idea is on, only a few remarks to it will be written below: 1. Sellers may try to hit the stops below $45300 today, but at all $45000 is a good wall to buy. 2. If they break $45000 down, the price of BTCUSD may fall to $43000 on torn down stops, but without updating the previous low below $42000. In such a situation, the green fractal may begin to work out, and with it the minimal, but still the alt-season will begin. 3. Below $42000 there will be a lot of negativity, and consequently the targets for the fall in the area of $32000. More detailed thoughts on this scenario are described in the idea below: To sum it up: today/tomorrow, you have to be extremely careful watching the price behavior near the critical levels we mentioned above to make the right trading _______________________________ Since 2016 , we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer — help us to be happier :)
by P_S_trade
61
BTC/USDT 4HOUR UPDATEWelcome to this quick BTC /USDT analysis. I have tried my best to bring the best possible outcome in this chart. Hello friends.. BTC update told in the previous chat it can bounce from 46k to 49500 as it happened now i think btc can come to 48000 from here to test again on 21ma which is back a 50k then 51k Thank You Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
BTC CME FUTURES FALLING WEDGE PATTERNS!Taking a look at our Futures for BTC i have noticed something very very similar, a continues set of falling wedges where once we breakout to the upside its explosive and can lead to huge gains. Basically this TA in my opinion shows us how valid the "bullrun" still is, and as ive said before and ill say again, i personally think we are still in a strong bull market, my thoughts are that this recent crash has been a big shakeout putting fear into retail investors and making them doubt about still being in a bullrun, another thought is that exchanges, whales, big money are liquidating overleveraged longs across the board. Lastly in the background i believe there has been massive accumulation going on coming from big money and strong hands, you can see it very clearly on Ethereum, we had a 3 week period of sideways movement and usually the case with that is accumulation and buying going on. Some really key support levels are the S2 at aprx 44.5K, 42-41K and finally the crucial support level of 40K, i would say anything above 40K we are still in a strong bullrun, but i breakdown and a good bit below 40K i would start getting a little worried and where personally i would start to think the bullruns coming to an end. Some key resistance levels are 50K and 51K which we are currently facing right now, ideally we want to break up above and close a couple days above here, the top of the falling wedge is also key too and something we need to breakout of to ignite another massive run. Each time we saw this bullish falling wedge pattern with a upside breakout we saw aprx a 60% move to the upside without much trouble at all, now if we give our current falling wedge the same price increase off of the breakout we are looking at 80K, which is a very doable target i would say, never underestimate the momentum in a bullrun and certainly don't underestimate the power of FOMO, something that drove a good portion of the 2017-18 bullrun. Heres a good example or scenario that is very realistic, say due to this massive shakeout/correction tons and tons of weak hands and newer crypto investors sold thinking maybe this was the end of the cycle, now think about if we started to see a breakout and gaining massive momentum, they are going to get really emotional and feel like they are loosing out, in turn most or all of them jump back into the market at a rapid pace hoping to regain some of the money they may have lost. Then aswell as people who have been on the fence for crypto investing, they see that we are making some massive moves and they also don't want to miss the boat so they all start hopping in! Sounds like a recipe for a huge momentum run and the possibility of a blowoff top! Not financial advice just my opinion!
CME:BTC1!Long
by JacobR905
BTC pump or trap?On my last analysis I predicted BTC to $42,000. it fell down into the channel and then seem to reverse. If you look closely. An head shoulder pattern formed recently, its an ugly one and not particularly textboo definition, but H&S regardless. I do not regard this pump out of the channel a bullish reversal until we close above the right shoulder. Only that will invalidate the downtrend (by forming an Higher high) and the ugly H&S shoulder as well, till then though I leave my mind open and free from prejudice, I lean towards the bears and call this a trap.
by perrysnipes
BTC/USDT 4HOUR UPDATEWelcome to this quick BTC /USDT analysis. I have tried my best to bring the best possible outcome in this chart. Hello friends. Let me tell you guys that once btc went close to 46k it jumped from there to 51900 then came 46k and I think from here btc once bounced to at least 49k to 50k this is for today 4 and I am going to update it from our side to all of you friends. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
Bitcoin Update!Looking at BTC we have been stuck in this downtrend for a few weeks now and a couple bottoms could be in sight, the Fed tapering news could be playing into this for sure and aswell as the evergrande defult, seems like everytime we start making some progress some form of news pops up lol. personally i think we are seeing big time accumulation phase going on in the background, remember the market gets very greedy quickly and usually results in a correction/fear. Its very hard to point out a direction just because how volatile the market currently is, we have a couple different scenarios to go over. First of all know one knows exactly, but in my eyes this would be a perfect bear trap, reason being is because we just saw a 9 day phase where we we're bouncing inbetween 51.2K - 46.9K also shown by the significant level (blue turned orange rectangle ) Bear traps are meant to fakeout the bears with a "significant" breakout just to rebound to the upside stopping many traders out. The second scenario would be a continued fall to the 0.3FIB as our first level of major support where a bounce is possible, next we have 42.7K level which isn't as strong and then our next significant support in the 40K range. Lets look at the RSI, we are in a little uptrend but more of a bounce and travelling up our support line there are clear areas of resistance above us and its going to take a good push to get back over that key level that is, the midline, we want to see a strong push up and above here and hold to get back in a confirmed uptrend. Lastly the Stoch RSI, in a pair with the regular RSI the Stoch is indicating a possible bearish cross here which could pull things down along with it, wouldn't be super bad we still have a ways to go before the 0.3 FIB level where it does give us that chance for a bounce, not financial advice just my opinion!
COINBASE:BTCUSD
by JacobR905