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Btcidea

BTC Pullback, Road to 50kSimple trading - Lower lows and lower Key idea: If BTC can hold below 67k, this would create a lower high. A potential major SELLOFF BTC is currently trading in a bear market on the smaller timeframes. With the BTC halving on the way, it's clear as day that BTC will not hold above 70k. So to capitalize on the 3rd red weekly candle, we are looking to see if BTC will make one final pullback to the upside. It's fair game for BTC now that we enter the weekend break. if this is a pullback, now is the time to rise. Pay attention to the price level at 67000. This is the final resistance before BTC flies to a new ATH. As long as we reject this level we will continue to SELL. Currently in a buy at 63258 Stoploss in profit TP 66900 The SELL (new chart will be posted) Around 65k-68k seems like a good range for the price to break out. Wait for bearish candles and look to sell
COINBASE:BTCUSD
by nikdobii
Bitcoin Technical Analysis: Key Resistance and Potential RetraceBitcoin (BTC) has recently encountered a crucial resistance level at its previous all-time highs. Given this development, we anticipate a substantial retracement in price. However, our outlook remains optimistic, with the potential for a continuation towards the $80,000.0 mark. Our trading strategy involves closely monitoring the 1-week timeframe. Specifically, we aim to enter the market during the 50% to 61.8% Fibonacci retracement zone. Our profit target is set at 2R, emphasizing risk management and reward-to-risk ratios. Disclaimer: This analysis serves as an opinion and should not be construed as financial advice. Traders and investors should conduct their due diligence and seek professional counsel before making any trading decisions.
OANDA:BTCUSDLong
by tradingwithanthony
BTC BITCOIN Technical Analysis and Trade Idea (video)This is a full video explanation of my previous post. #BTC has encountered substantial resistance at both weekly and monthly (1W/1M) timeframes. The 4-hour (4H) chart reveals sideways price action and a formation of a lower high, indicating potential bearish pressure. Expect a retracement targeting the 61.8% - 78.6% Fibonacci zone, derived from a significant daily swing low to swing high. Trade Suggestion: - Monitor for signs of a bearish shift in the trend on the lower time frame to confirm the retracement. - Consider short positions upon breakdown from the current range, targeting the Fibonacci zone. - Stop-Loss: Implement a carefully calculated stop-loss above the recent swing high to manage risk effectively. Disclaimer: This analysis is offered for educational purposes only and should not be interpreted as direct financial advice. Always conduct your own thorough research and implement sound risk management practices before initiating any trades.
OANDA:BTCUSDShort
by tradingwithanthony
BTC BITCOIN Technical Analysis and Trade Idea#BTC has encountered substantial resistance at both weekly and monthly (1W/1M) timeframes. The 4-hour (4H) chart reveals sideways price action and a formation of a lower high, indicating potential bearish pressure. Expect a retracement targeting the 61.8% - 78.6% Fibonacci zone, derived from a significant daily swing low to swing high. Trade Suggestion: - Monitor for signs of a bearish shift in the trend on the lower time frame to confirm the retracement. - Consider short positions upon breakdown from the current range, targeting the Fibonacci zone. - Stop-Loss: Implement a carefully calculated stop-loss above the recent swing high to manage risk effectively. Disclaimer: This analysis is offered for educational purposes only and should not be interpreted as direct financial advice. Always conduct your own thorough research and implement sound risk management practices before initiating any trades.
OANDA:BTCUSDShort
by tradingwithanthony
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