BTC → Bitcoin Back to $38,000? Or to $138,000? Let's Answer.Bitcoin has deviated from its historical price action tendencies and reached new all-time highs before the bitcoin halving and without touching lifetime support! Does that mean we will continue to go up?
How do we trade this? 🤔
Bitcoin is clearly at a crucial moment in the market, breaking beyond the previous $69,500 all-time high and reaching just shy of $74,000. Without surprise, Bitcoin is facing some resistance in this area as the bulls take some profits and the bears lurk waiting for a solid sell candle.
At this stage, we do not have a sell candle to justify a short. My previous analysis called for a 30% pullback or more between the $45,000 and $55,000 area if the proper sell candle and confirmation bars showed themselves, we never received those candles. I am still in the same mindset; be on the lookout for a major pullback, but wait for the proper sell and confirmation to short. Long scalp on the smaller timeframes, 5m or 15m until the price action no longer justifies it.
I believe the more lucrative opportunity will show itself after a major pullback occurs to the $38,000 price area. This area provided great trade volume and has acted as support and resistance several times in the past few years. It's reasonable to believe this will be a solid floor for Bitcoin. The hard lifetime support floor is approximately $25,000 leading into 2025, but I think it's unlikely at this point to see such a pullback. $38,000 is the more likely support level as that should coincide with the Weekly 200EMA later this year/early next year if the price is to fall that far. We also have to consider that the price may not fall below the Weekly 30EMA or come near the Weekly 200EMA and should be looking for a buy signal at any of these support zones.
For now, I would long trade the smaller timeframes and be on the lookout for the sell signal candle on the weekly chart.
💡 Trade Idea 💡
Long Entry: $42,000
🟥 Stop Loss: $25,000
✅ Take Profit #1: $69,000
✅ Take Profit #2: $110,000
⚖️ Risk/Reward Ratio: 1:4
🔑 Key Takeaways 🔑
1. At previous all-time high resistance, not ideal long entry on Daily or Weekly timeframe.
2. Wait for sell signal on Daily or Weekly timeframes to enter a short.
3. Target Weekly 30EMA, 200EMA, and previous high volume area for support.
4. Long at $42,000 after a strong buy signal off of the high volume area, target 1:4 Risk/Reward and take half of the position off the table at $69,000, move stop loss up to entry and swing the latter half of the position to the $110,000 area.
5. RSI is overbought near 85.00 which supports a pullback and hesitation to long.
💰 Trading Tip 💰
It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
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Btcmoon
$BTC Long Idea Ascending Triangle As the title states CRYPTOCAP:BTC shows a bullish pattern of an ascending triangle. Once we get a break of the shaded rectangle we can look to entry long with our stop just below that area. Looking to ride this into ATH and targeting roughly $75k to $80k.
trade safe!
Bitcoin's Route to $3,000,000+: An Elliott Wave Based OutlookWhat are the possibilities for the future of Bitcoin? There's mixed perspective with the retail and institutional world of investors but to base things solely on my opinion of its all-time wavemapping, I think Bitcoin could see upwards of $3M-$4M per coin by the early 2030s. I too anticipate a number of heavy, undeniably deep corrections to come during that timeframe but Bulls should be able to do the heavy lifting to restore its value. Regardless of whether you're a lifelong Bitcoin fanatic or an unbiased trader for profit, the pending corrections can and should be avoided. This is how profits are maximized. Hopefully this is the last Bitcoin chart I'll ever have to share on TradingView but nevertheless, I will update accordingly.
Bitcoin/6 hour chart BULLRUNTook some time off, but I am back to get you guys back in the gains. I am happy to say this one should do just that.
In this idea I show a possible ascending triangle on Bitcoin signaling the beginning of the second leg of the bull run. I hope you got your investments because nows the time. This is where Bitcoin runs to 110k. If you agree throw me a like and follow me for more ideas that keep you in the gains.
End of Year Roundup: How Did Bitcoin Fare in 2021?Bitcoin (BTC), the world's largest cryptocurrency, started off the year soaring 129% to a new all-time high of $64,843 before experiencing the biggest crash in nominal terms. From the April 14 high to the June 22 low, Bitcoin lost over $36,000 in value, or 55.59%, before bottoming out.
In the second half of the year, the bullish sentiment returned slowly and steadily, which helped push BTC's price to a new all-time high of $69,000 – a 139.58% rally from mid-June low.
The last two months of the year saw Bitcoin’s price pulling back towards the $42,000 - $50,000 range. At the time of writing, one Bitcoin is valued at $47,810.
2021 Key Bitcoin Stats
The total USD value of Bitcoin in circulation reached another significant milestone of $1.215 trillion on November 16. At the start of the year, Bitcoin market capitalization was only $478 billion; this represents a 154% increase in market capitalization.
Bitcoin’s market dominance has fallen drastically to 40.2% from 70.68% at the beginning of the year, though Bitcoin kept its lead as the most traded cryptocurrency in 2021. Meanwhile, the Bitcoin network hash rate, which represents the speed of mining, has hit a new all-time high in 2021 of 181.77 million TH/s.
Looking Ahead: Overall, Bitcoin had a fantastic year, and we are looking forward to seeing what surprises await us next year!
BTC update:BTC update:
BTC is trying hard to break above the 21 MA. Once it breaks above this MA then we may possibly see BTC reaching $68k to $70k.
If BTC fails to hold the current support level and breaks below the lower trendline then we may see BTC dropping to $60k or even lower.
Key points to monitor will be:
1. The daily close above $65k.
2. BTC breaking above the 21 MA.
3. Support level at $62k to $63k.
Trade safe and stay tuned.
BTC Warming Up for next moveOCT-NOV is Always Good For BTC Upward Movement. 2021 Wont Be Different. Already BTC broke the bearish trendline on daily timeframe and made a 25%+ Gain in this month📈 We are Expecting New ATH Very Soon While Some Noobs are Drawing Some Lines And Calling 20k Next. Don’t Follow those Idiots While Q4 is Big Time For BTC. We Already Mentioned BTC Breakout Coming At 43k Before OCT Start. BTC Already Reached 56k🔥 BTC to the moon🚀
~ @fortunecrypto100 ❤️
Btc corrective pattern idea!We are possibly forming a head and shoulders top into an Elliot wave 4th wave correction here!
I have initial drop target as A wave ,also following into B and C wave targets! Upper target for me is $80,000.00
after leaving the bull formation this pattern forms! Could fall out of a triangle and hit lower targets to form a bull flag!
BITCOIN Short signal on D1A short signal just printed on chart on D1 timeframe, with KEANU REEVES swing trading indicator.
I tend to believe this signal, why?
We closed daily below the yearly resistance 10.5k
Pretty big volume on the move, confirming a direction.
Dollar bouncing, all markets going down, i think we going for a correction.
Covid pump was not susteinable at all.
BTC BullishBTC looking to continue bull run. Further resistance at 11.45k - 11.85k but breakout looking more and more likely. Positive EMAs and MACD crossing in 3hr and shorter time frames, 4hr shortly. Look for BTC to make another large gap in CME futures this weekend, and with possibly more news on stimulus package coming, we’ll be on the moon shortly.