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BTC/USDT 1DAY AND 4HOUR CHART UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BITCOIN update from Crypto Sanders. Chart Analysis:- Analyzing Bitcoin’s (BTC) oscillators provides an essential snapshot of its current market stance. The relative strength index (RSI) at 56, Stochastic at 54, and commodity channel index (CCI) at 18 align in a neutral zone. This neutrality signals a balanced market sentiment, with neither overbought nor oversold conditions prevailing. These indicators suggest a period of consolidation, with potential shifts contingent on broader market influences. The story told by bitcoin’s moving averages is one of subtle optimism. Similar to the past few weeks of analysis, the exponential moving averages (EMAs) over 10, 20, 30, 50, 100, and 200 days predominantly signal bullish sentiment, despite the 10-day EMA presenting some bearish sentiment. Conversely, the simple moving averages (SMAs) for these same periods also indicate positivity, including the 10-day SMA. This divergence in the shorter-term EMA reflects the inherent volatility and rapid shifts in market sentiment typical of crypto assets. bitcoin has shown a strong uptrend, moving from a low of 15,479 to a peak of 44,729. However, the appearance of a significant Dec. 10 red candle with a long upper wick suggests possible resistance to higher prices or profit-taking activities. The volume, not showing a significant increase, hints at a cautious approach by traders, possibly indicating a lack of strong buying conviction. As suggested by the daily chart, a prudent strategy would be to await a retracement towards key support levels for entry points. These levels could be previous resistance points or moving averages not explicitly marked. For exits or profit-taking, one should monitor the peak prices or the emergence of bearish patterns like multiple long upper wick candles, indicative of potential reversals. The 4-hour chart offers a more granular view of Bitcoin’s price action, confirming the uptrend seen in the daily chart. Post-peak, the cryptocurrency entered a consolidation phase, marked by volatility and relatively low volume, suggesting a lack of significant sell-off. Entry strategies could involve observing price behavior at current levels or waiting for a rebound from a support level. In contrast, an exit strategy might include setting a stop-loss just below the recent consolidation to mitigate the risks of a breakdown. The confluence of neutral to positive signals from oscillators and moving averages, coupled with Bitcoin’s resilient performance on the daily and 4-hour charts, points towards an optimistic outlook. The absence of clear overbought conditions and the cryptocurrency’s ability to sustain above key support levels paint a bullish picture. Despite the current stability, underlying bearish signals cannot be overlooked. The mixed signals from the 10-day EMA and the appearance of the Dec. 10 red candle with a long upper wick on the daily chart hint at possible resistance and profit-taking. Should Bitcoin fail to sustain its current levels and break below key support zones, this could trigger a bearish reversal. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
Long
by CryptoSanders9563
1
BTC/USDT 2DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BITCOIN update from Crypto Sanders. Chart Analysis:- the price has been blowing past resistance levels one by one. Yet, today’s action has been very bearish, as the daily candle looks very bearish. The price has dropped around 10% today before rebounding from the 40K support level. In case this level holds, it could initiate a rebound, and the market might rally toward the next significant resistance level, which is located at the 48K mark. On the other hand, a bearish breakout could result in a drop to the 38K and potentially the 31K zone. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
Long
by CryptoSanders9563
1
Bitcoin Climbs The Wall Of WorryFor the last few months, many have been debating if BTC is still in a bear or bull market, with most calling for new lows in the near future. As we look at the BTC weekly chart we see several clear levels of support and resistance that price has been respecting for some time now. I will be the first to admit, the price action has been slow and not very clear in either direction. However, I firmly believe the bull market has begun, in fact, I believe we've been in the midst of climbing the wall of worry for the last few months since the lows made at the end of 2022. There are a few things that should be noted. Never has Bitcoin had a rally of 100% during a bear market. Bitcoin bear market bounces are typically below 70%-80% and they rarely hold broken resistance levels as support for more than a few weeks. The double bottom followed by bullish divergence on the weekly time frame shows a clear shift in the crypto market's behavior since the start of 2023, and I believe we are seeing a clear indication of a market sentiment shift at the early stages of a bull market. Bull markets typically start with lots of uncertainty, followed by general complacency with the current price action. Often making large moves that go unnoticed by the general crowd, this is exactly what we see right now. As you look closely, we see a falling wedge pattern BTC broke out of at the beginning of 2023, and it even made a strong retest of support shown by the long wick at the end of March. Now we are resting on the 21/50-EMA's, using them as support for the last several weeks, we even might see a cross which is another bullish sign. In regards to current price action, if we see a break and weekly close above $32K Our next target would be the FWB:42K region where i belive we will spend most of our time before the next halvening. Now, I'm keenly aware of the top signals many are talking about, mainly the resurgence of Meme coins recently, but I don't see this as a "top signal". I see this as a market sentiment shift, the market is clearly ready for speculation, and often times speculation starts in the smaller sectors of the market. A good example would be the stock market, many times you will see the smaller market cap stock move first, followed by the larger stocks afterward. I believe the market is anticipating a pause from the FED due to a clear decline in inflation, and this is starting to show itself in the recent price action in the tech sector of the stock market. I believe there has been steady accumulation happening across a variety of markets, including tech, crypto, and precious metals. This time in the market feels very similar to the 2015-2016 market cycle, where we saw slow and steady growth over the course of the year. I think this is very possible, and I believe it is the most likely scenario moving forward into the end of the year. On a side note, back to the meme coin topic... I believe the recent meme coin craze is a sign of a market behavioral shift that is much more bullish, but i also believe this is likely a trap laid out for the average retail investor. The whales draw in the masses by creating meme coins that have no value, while they silently accumulate the real crypto assets that have real value. This tactic is perfect for getting the small fish to sell their bags and chase the lottery meme coin dream while allowing the large whales to buy the best coins at a significant discount just before they see a large surge in price. I hate to see retail investors fall for this trap... Hopefully, the crowd starts to catch on before it's too late. Although I have a more bullish outlook for the future, I'm not ignorant of the fact that we could see a retest of the lows, this is definitely a possibility if we see another large rejection from the $30K region, but I see that as another opportunity at a discounted price before challenging the resistance again. I'm carefully watching the MACD, we could get a bearish cross which could spell trouble for a few weeks, but until that happens I will remain cautiously bullish until proven otherwise. I think it's riskier to be out of the market right now than to be waiting on the sidelines for the perfect signal, that rarely happens. I'm carefully watching for bearish signals, but for now, everything looks like we're setting a base for higher prices down the road. If you wondering, NO I do not believe now is the time to be taking leveraged bets on the market, now is the time to be slowly accumulating, getting ready for what the future may hold. If we do see another sweep of the lows (which is entirely possible) you run the risk of being liquidated only to see the price bounce back very quickly. I would like to give a WARNING... I do foresee a scenario in the future that "could" end this next bull cycle abruptly, hurting a lot of retail traders in the process. I DO NOT want to see Bitcoin challenge or break the ATH at FWB:65K BEFORE the next halving in less than 300 days... This would be VERY alarming in my opinion. If this does happen, I give a STRONG warning to be extra careful, I could see a scenario where Bitcoin breaks the ATH at FWB:65K + and then quickly shoots for $90K only to make a top below $100K and quickly end the bull market in the process, this has a fairly high probability of happening if we see too much excitement in the market before the halving. Keep this thought in mind... If that does happen, I could see a multi-year bear market which would be devastating for all us retail traders. In fact, I would plan for this scenario and be relieved if it does not happen. Plan for the worst, and hope for the best... Remember, stay level-headed, stay calm, and stay ahead of the crowd.
BITSTAMP:BTCUSDLong
by CryptoSyphn
2
Bitcoin Lifetime Analysis → Reverse to $20,000 Before New Highs?Bitcoin broke out of it's trading range between $25,000 and $32,000 and touched $44,800! Does this mean we're going to new all-time highs? I'm skeptical for a parade of reasons, all of which are based on historical and current data points. Let's dig in! How do we trade this? 🤔 Recent Data Since the trend reversal in January 2023 we've had three pushes to the upside, which is a textbook leg count before the trend converts into a trading range. The RSI has also been over 70.00 since October 2023 and the Daily candles leading up to December 4th 2023 could be the exhaustion bars at the end of the bull trend. This is enough evidence to warrant a pull back, likely to the top of the trading range around $32,000. Historical Data When are we going to see new all-time highs? Refer to the Monthly chart above. We can see that prior to hitting 3 of the 4 new all-time high events, Bitcoin will make contact with Lifetime Support. The one exception was the 2013 all-time high. Another data point is the Bitcoin halving has occurred prior to *every* new all-time high. There is one more clue in the Weekly chart to observe! Look at the 2019 high, looks very similar to where we are now: Double-bottom reversal before touching Lifetime Support on Feb 2019, three pushes to the upside hitting the 2019 high, RSI over 70.00, price failed to break the 2019 high then capitulated to Lifetime Support, Bitcoin Halving happened shortly after, THEN went to new all-time highs. I believe this is the situation we're in right now. If we don't make contact with Lifetime Support, I believe we need to at least come back down into the trading range before hitting new all-time highs. We also have the Bitcoin halving happening in the April 2024 area, all seems conveniently timed based on what we've discussed here! Trade Options There are many ways to trade this: 1. Fading your position down to lifetime support: Longing support areas as the price falls, starting with smaller positions and increasing your entry at every level. 2. Waiting for a bounce at lifetime support or in the trading range: Playing the reversal, which includes not entering until you see a reversal signal then you enter with a larger position. 3. Scalp your positions with higher probability of profit, but less profit and more risk in your Risk/Reward Ratio. To strike a balance between Risk, Reward, and Probability, I'll stick with a standard Reversal Entry, which means we wait for a reversal confirmation. Based on this analysis, we should look to enter after a Lifetime Support or Trading Range bounce around $25,000. Enter in this price area, place a protective stop below the last bear run low at $15,000. Take profit areas are based on previous resistance and the projected lifetime resistance range of $120,000 and $130,000. The first take profit is at the price we just hit around $45,000, the next take profit should be just before the current all-time high around $65,000, the final take profit should be below the projected new all-time high somewhere in the $120,000 and $130,000 area, around $105,000. You could add more take profit areas between $65,000 and $105,000 based on lower timeframe analysis, but we don't have that data yet. More updates will be provided as the months go by. Let me know your thoughts! 💡 Trade Idea 💡 Long Entry: $30,000 🟥 Stop Loss: $15,000 ✅ Take Profit #1: $45,000 ✅ Take Profit #2: $65,000 ✅ Take Profit #2: $105,000 ⚖️ Risk/Reward Ratio: 1:5 🔑 Key Takeaways 🔑 1. Bullish since January 2023. This is not *THE* bull run. 2. Bull Breakout of $25,000 to $32,000 Trading Range, but RSI overbought. 3. Every New All-Time high was Preceded by Touching Lifetime Support. 4. Bitcoin has not Touched Lifetime Support. Pullback to $20,000 Area. 5. RSI is above 70.00, Supports Pullback. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
INDEX:BTCUSDLong
by TraderEngineering
BTC Price Target: $48kHow high could this COINBASE:BTCUSD pump go? FWB:48K is a solid level to exit. There was a local low at FWB:48K in March of 2022. The Fib retracement level .618 between the ATH of SWB:69K and cycle low of $16k is at FWB:48K Many traders are talking about exiting at this level, which will bring selling pressure I can understand HODLing through the ups and downs, but if you're long with leverage, 48k seems like a great place to exit a trade. I know I just made a price prediction for $136k for Bitcoin, but I think a temporary retrace is likely. Especially if the ETF is announced, and many traders exit to take profits. "Buy the rumor, sell the news." We are in the rumor stage, people.
Long
by tokentradertv
1
BTC GROWTH AFTER NOVEMBER ?Bitcoin is about to complete an accumulation pattern on the 1-day timeframe, with 2 days left until the monthly candlestick closes. Also, this analysis was done after the closing of the weekly candle above the price of $34,500, which shows that Bitcoin has shown a good growth in the last month, which can be a sign of preparation for growth at the beginning of November. Also, the recent events and tensions, including the conflicts between Israel and Hamas, Iran and the United States, have not been able to have a systematic negative impact on the market, which indicates the high level of stability of Bitcoin. We are getting closer to the approval days of ETF funds and we understand the demand pressure!!! If the growth continues, we will encounter in the areas of 45,000 to 48,000 dollars.
Long
by MyNameIsMilad
$BTC bounce to $42-44k as final targetI haven't charted BTC since back in October, when I thought BTC could fall to $15.8k . Turns out it hit that level and bounced. I ended up buying that level and sold it at $17k for a quick profit because I was unclear of the direction going forward and I thought there was risk for BTC to fall to $12k, but it has since bounced higher. Now the trend and the chart has become clearer to me and I think we're setup for a 1-4 month run from here to it's final target of $42-44k. Why that level? Well I think most people think we can only go to $30k on this bounce, so bouncing higher than that would convince a majority of the market that we're back in a bull market (which we're not). It's also the 50% retracement level from the high (which would make sense for us to retest in a bear market). I think we're likely to get to these levels by May-June and then I think we'll head down back to the levels I originally thought we were going to $9-12k (for the final bottom). But let's not focus on the downside for now. In the coming months, look for bitcoin to break these resistance levels on the upside and get to the ultimate target of $42-44k. Let's see how it plays out in the coming months.
COINBASE:BTCUSDLong
by benjihyam
34
$BTCUSD Retraction Point Approaching The BITSTAMP:BTCUSD pair is nearing a crucial resistance level at $46,177, signaling potential price retraction. Our indicator ( w.aritas.io ) suggest a gradual exhaustion of bullish momentum, with increased short positions. Additionally, the Relative Strength Index (RSI) is approaching the overbought (OB) zone, indicating a potential reversal. Caution is advised, and a retracement to around $39,375 is anticipated. Traders should closely monitor these levels for potential trend changes.
COINBASE:BTCUSDLong
by wikitrades
Bitcoin Near-Term Price TargetFuelled by its imminent ETF approval, Bitcoin broke past resistance at $28,000 and has seemingly begun a new bull market. For those of you who got in on this move, myself included, I have identified what I think will be a temporary top and a good place to take profit within the next 1-2 months. On the 1W timeframe we can see the cloud edge to edge trade is in progress and typically price will reach the flat line at the top of the cloud, which is at about $42,000. This level is the 50% fibonacci retracement of the previous bull market high in November 2021, and the bear market low in November 2022. Additionally the level roughly coincides with the top of the monthly bollinger bands which will act as resistance. Of note is that the bollinger bands are in the process of squeezing together, which occurs prior to a high volatility move. Once we hit the $42,000 area and the ETF approval is officially announced, I expect that there may be a sell the news event as we have already been pumping on the rumour. Then there will be sideways for a few months until the halving. New chart patterns will likely form during this period, which will provide an opportunity for re-entry and a continuation of the bull market.
INDEX:BTCUSDLong
by HaydenOtto
BTC/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BITCOIN update from Crypto Sanders. Chart Analysis:- As the daily chart depicts, the price has been demonstrating strong bullish momentum over the recent months. Yet, the market is currently testing the $38K resistance level and is yet to break convincingly. If a bullish breakout occurs, there would be little resistance preventing the price from reaching the next key level, which is located around the FWB:41K mark. However, with the relative strength index showing a clear bearish divergence between the recent highs, there is also the possibility of a pullback in the coming weeks. In this case, the $34K and the $30K levels would be potential targets. I have tried to bring the best possible results in this chart. If you like it, hit the like button and share your charts in the comments section. Thank you.
Long
by CryptoSanders9563
ORBS/USDT Poised for Resistance Breakout?👀🚀ORBS Today Analysis💎 Paradisers, focus on #ORBSUSDT as it presents an interesting trading scenario. The asset is currently making attempts to break its resistance, indicating a high likelihood of an upward movement. 💎#ORBS has consistently followed a descending channel pattern, breaking above it to initiate an upward trend. Presently, it's approaching a resistance break, hinting at a significant opportunity for a bullish movement. With its continued upward momentum, it is aiming to target resistance levels at $.05401. 💎 While newcomers may be quick to make hasty entries, seasoned Paradisers recognize the importance of timing in such scenarios. Identifying the most favorable entry points during this expected rise is crucial, along with being cautious about entering at the peak of the market. 💎 Additionally, be prepared for a potential bullish rebound from the demand level of $.04392 if #ORBS faces challenges in sustaining its upward momentum. However, a decline below this level might indicate potential obstacles in maintaining the bullish trend. 💎 In this fluid and changing market environment, strategic planning and effective decision-making are key. Crafting a comprehensive trading strategy that includes sound money management and a deep understanding of support and resistance levels is essential for achieving successful trading outcomes. 🌴💰
Long
by MyCryptoParadise
1
Trading Bitcoin | Buy Orders | Elliott Wave (Mar 2020) - Part 1BTC/USD (weekly) has been labeled within a Cycle Degree wave III starting point. Cycle Wave II (black) has been called as the bottom during Dec 2018, unleashing the Crypto Bull Market. Primary (2) (green) hit the bottom in December 2019. Cycle II (black) Structure - Double Flat Dec 2017 peaks and down until Dec 2018 bottoms - Cycle II (black) Primary 1 (blue) Sequence - Impulse Break-out and confirmation of a bullish sequence. Primary 2 (blue) Structure - Correction Descending Channel unfolding within a complex Triple Three sequence. Next expected swing Bullish Impulse, with a rally in the 3 of 3's, of a Primary degree. Levels in focus: $7800 & $5550. Dominant Trend Bullish Impulse (Rally) presenting an Extension towards $35K and then beyond. Structure Change Primary 2 (blue) invalidation is at $3122.28.
BITSTAMP:BTCUSDLong
by EW4X
4
Bitcoin's Bull Run to $39,968: Unleashing Strong MomentumOverview: Bitcoin has recently displayed a compelling technical pattern, forming a triangle with a notable high at $37,978 and a corresponding low at $35,784. The chart indicates a period of consolidation, setting the stage for a potential breakout on November 12. This impending move is further accentuated by a strong resistance level at $39,968, making it a key target for the anticipated upward movement. The bullish outlook is substantiated by fundamental factors, notably BlackRock's proposal to introduce a Bitcoin Exchange Traded Fund (ETF), currently awaiting SEC approval by October 2023. Additionally, the projected decrease in November USD inflation to 3.3% and Federal Reserve Chairman Powell's expressed inclination to lower interest rates create a favorable environment for BTCUSD. Technical Analysis: 1. Triangle Breakout: The technical analysis reveals a well-defined triangle pattern, signifying a consolidation phase. A breakout is expected on November 12, providing a clear signal for potential bullish momentum. 2. Target at $39,968: Historical data and meticulous technical scrutiny indicate a significant resistance level at $39,968, establishing it as a plausible target for the upward movement. Fundamental Analysis: 1. BlackRock's Bitcoin ETF Proposal: The potential approval of BlackRock's Bitcoin ETF presents a substantial catalyst. Approval could attract institutional investors, fostering positive market sentiment and potentially elevating Bitcoin's market position. 2. USD Inflation Decrease: The projected reduction in November USD inflation from 3.7% to 3.3% is a favorable macroeconomic factor. Lower inflation mitigates pressure on the Federal Reserve to raise interest rates, benefiting risk assets like Bitcoin. 3. Powell's Interest Rate Stance: Chairman Powell's vocalized desire to lower interest rates to 2% reflects a dovish stance. This dovish sentiment is typically conducive to the performance of Bitcoin, as it diminishes the relative attractiveness of traditional fiat currencies. Risk Factors: Market Sentiment: Rapid shifts in market sentiment or unforeseen events can exert influence on cryptocurrency prices. Traders should remain vigilant for sudden changes in the market landscape. In summary, a comprehensive analysis incorporating both technical and fundamental factors supports a bullish breakout scenario for Bitcoin around November 12. The potential target of $39,968 aligns with historical resistance levels and is strengthened by positive developments such as BlackRock's ETF proposal, decreased USD inflation, Potential Powell's dovish interest rate stance. Traders are advised to closely monitor SEC decisions and stay attuned to broader market dynamics for informed decision-making.
BITSTAMP:BTCUSDLong
by fardycurry