Bitcoin Remains Below 30K: Is It a Buying Opportunity or a Trap?Bitcoin trying to breakout of 30K and goes into 31-32K.we could see a decoupling happeing between SPX and BTC.
If BTC loses 29K again then loses 26.8K we could say we are not going to 31K if not there is a slight possibility for us to reach there before a major move to the downside.
SPX at a key support level as same as NQ1
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Bitcoin is testing an important trend line!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
▫️Technically: bitcoin is testing the trend line, while we see small punctures and an attempt to go lower, locally we have a support zone of 28,500-28,000 from where the price of bitcoin can bounce again and go to test the HKEX:29 ,500-30,000 range
We have an important fundamental ahead of us:
May 3 - Fed rate and press conference
May 5 unemployment rate (month of April)
So far, I haven’t made any decisions on speculative positions, I want to wait for the correlation movement to stop, the HKEX:27 ,200-26,800 zone looks strong so far, maybe I will make decisions on scalp deals in Long from there, not financial advice!
Bitcoin - there is important resistance ahead!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
Past plan and my position in long:
Friends, the plan with a rebound from the local bottom has been completed, the buyer was able to keep the important support zone of HKEX:27 ,500 and the price again came to test HKEX:30 ,000, I wrote about this earlier. I have already fixed 50% of the profit from my long position and continue to hold the rest of the position up to an important resistance level.
Important bitcoin levels:
On the technical side: we have two resistances, a local HKEX:31 ,080 from where Bitcoin started its correction to the range of HKEX:27200 -27500 and there is a global resistance of 0.5 Fibonacci HKEX:32 ,500 from where a strong buyer may appear.
What does bitcoin need to keep going up?
Still an important support zone is the HKEX:28 ,000-28,500 range, the price is still close to this level, for a further trip to the HKEX:31 ,000-32,500 range, the buyer needs not to lose this support zone in a short time, but to stay afloat where we are at at the moment, otherwise we may expect a strong fall into the HKEX:25 ,000-24,000 zone
Test of an important Fibonacci level:
A test of the 0.5 fib level will be very important in order to understand the further direction vector in the future, there are two options: either we run into a strong buyer and catch a strong bounce down, or we stay in the 0.5 fib zone and continue to grow on HKEX:34 ,000-36,000
To all those who have gained Longs with a profit, do not forget about risk management!
Bitcoin is out of an important range!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
LOCAL:
Technical on the 1H timeframe there was a breakdown of the local countertrend line, this may cause further growth to the important resistance level of HKEX:28 ,500
Let's hope that the HKEX:27 ,500 zone will remain the impetus for going to the HKEX:30 ,000-32,000 zone
Bitcoin is over if the buyer loses this zone!!!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
Friends, let's talk about bitcoin from the technical side and analyze the important areas, because at the moment many are interested in the question, is the correction over or is it just the beginning of a downward movement?
At the moment, the price of the asset is testing the important HKEX:27 ,350 zone, which is a very important support for bitcoin, if the buyer cannot hold this zone, then most likely we will see a continuation of the downward movement to the HKEX:25 ,200-23,800 zone, since there are traded volumes and the price is where linger.
So far, the week has not opened badly, above the previous Low of HKEX:27 ,150, which is positive and sets up the fact that the buyer will again be able to return the asset to the HKEX:28 ,500 zone and hold the price there to continue the upward movement.
BTC - PrimaryThis idea has been removed by TV for breaking house rules, first for sharing a link to another social media website, then for only mentioning the name of it. (You can actually copy paste links from that website on a chart, tho). Anyway, maybe third time has the charm.
This is my primary for now.
I'm not too interested in how the structure will
look like, but I particularly like this one because
it front runs 25.2 S/R flip and keeps trapping both sides for weeks. The pullback can be much deeper, but this is what I like for now.
My initial idea from October (linked on this chart) is still valid IMO, but not keeping it as an alternate for now.
Bitcoin - out of the wedge! The start of a big correction?!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
There is a contact - bitcoin is testing an important zone! All attention to the schedule, wrote about it earlier.
Technical: a perfect exit from the wedge and a test of the important HKEX:28 ,450 zone, which has already received a small reaction. So far, I see that there is pressure from the seller, but I also do not rule out that we can again see a rebound in the range of HKEX:30 ,000-30,500. So far, we are seeing a razor for those who believed in strong growth from 30 and now they are being made to doubt it.
Guys, I decided to get out of the short position that I gained not so long ago, it was not easy against the local bullish trend, but I managed to close in a small plus, then, as I said, I will strengthen the altcoin portfolio.
Leaving below HKEX:28 ,500 and fixing below will mean that the downward movement may continue to another strong level of HKEX:25 ,500-25,200
CountOnCrypto - Bitcoin Swing Trade - 17/04/2023Swing Failure Pattern of the market structure high. I would still consider the market structure bullish on the MTF-HTF as we've found support at the old market structure high which was flipped from resistance to support then had an SFP with a lot of shorts opening between here and when we lost the 30k psychological support.
Target is based off the liquidity at 30.8k. Stoploss below the low as that's a clear invalidation on the basis of the SFP and market structure! Lovely swing trade setup for me.
Bitcoin $30,000 Starting a New Bullish Cycle?!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
Friends, I can congratulate everyone who was waiting for the long-awaited figure of HKEX:30 ,000 for bitcoin!
The technical chart looks like a continuation of the upward movement, to the range of HKEX:31 ,450 this level represents resistance from which a small correction may follow, or a stronger resistance level of HKEX:32 ,750 to which bitcoin can easily reach and from there we will see a strong correction.
Also today, a number of US macroeconomic data are being released from which there will be increased volatility:
▫️CPI data 15:30 GMT.
▫️FOMC minutes 21:00 GMT.
So do not relax much, especially those who are in Long positions, they will take out in both directions, I advise you to incur a stop plus or at no loss.
Don't be fooled by Bitcoin narratives even when they..Don't be fooled by narratives even when they align with current price action.
Just because "Bitcoin was designed for these cases" and price is moving accordingly doesn't meant one are connect to another in the context of short term price action. I explain my views on this in the video.
Bitcoin hit serious resistance level at 25k where there was significant short pressure with sell orders that got taken and now parking slightly bellow it.
I think even we se short term retrace towards the 23.1 control point level eventually we bounce out of it towards next target levels above 28.9k 2021 yearly open.
Check the video for full range of ideas and interesting data point that formulate my current view on Bitcoin.
Don't forget to HIT THAT ROCKET 🚀 button!!!! 🫡
Thread: Has BTC Bottomed?Hey All,
Welcome to another year of crypto. 2022 was full of bears and shocking developments in the space! 2023 has promise to be much better in terms of price growth.
It's been nearly a year since I last posted on TradingView and for good reason. My last 4 analysis' were warning of the bearish year to come and it turned out to be just that. (please refer to the related ideas below for an overview of them).
Some signs have started to print that the crypto markets have been severely reset and may be soon experiencing a trend change. There has been little to no revival for most of the markets since highs were set over a year ago.
While looking at the above chart, two white trends can be seen which create a channel like structure. Each time price has hit either trend, a strong reaction has occurred and often a significant bottom or top formed. Right now, BTC is laying on the bottom trend.
The area has other confluence as well. There is a major support zone here. BTC has just bounced off its 2000 day bottom trend line for the sixth time.
Any break below the bottom trend and into the major support zone can be catastrophic. $12,000 would likely be the next support area . $10,000 is a level that cannot break. If it does, crypto will be sent on a wild ride with nearly all important technical points void. This is a very unlikely scenario.
Below I have added a few technical points to highlight a well rounded view.
Thanks for reading
Please like and comment!
A bounce off the global trend line, going up to $30,000?!Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
Let's go through the technical part:
Bitcoin at the moment tested the global countertrend line and showed a very good rebound, but can this mean that we will still break above $25,300 and see a fix there? So far, I see that the buyer has become very active and we are seeing the complete absorption of all the negative that has poured out in just a couple of days, but we still have a strong fundamental ahead of us - inflation data and an increase in the key rate, where the market will also show maximum volatility, be careful!
At the moment, the price is trying to test the resistance of $25,000-25,300, which is some kind of psychological level; upon breakdown, we can see a strong impulse towards $26,600-27,500
If a correction suddenly starts from the current values, then a strong support level is the range of $22,500-22,800, from which the buyer's reaction may also follow.
While I am watching the market from the outside and aiming to buy coins on the spot, I am temporarily not considering futures positions)
Is Bitcoin going to the bottom or will we see more above $25,000Hello trader Today I have prepared a new idea for you. Like and subscribe to the channel there is a lot of useful information✅
The market does not want to give in to technical analysis lately, various FUD news and exchange scams cause strong movements in the market that are difficult to predict...
Well, I still want to conduct a small analysis from the global side.
I have already shared this formation before and this wedge worked very cool, and the situation is repeating itself now
which was in the month of February on the 13th - a test of the wedge on the reverse side, while bitcoin flew from $21,500 to $25,300 technically it looked logical to see such a takeaway.
At the moment, from the technical side, everything looks exactly the same, bitcoin tested the wedge from the reverse side and the price at the moment reached the support level of $19,600 and after that we saw a rebound above $20,000. The question is, will the weekly candle close above $20,000 or will we go back to test the $19,200-19,500 support level? Write your opinion in the comments.
We are waiting for the opening of a new week, I think it will be interesting to observe some results:
Monday March 13th - Emergency Fed meeting (possible to resolve the issue with the incident of the latest events of the SVB bank)
Tuesday March 14 test fork of ETH - there will also be volatility in the crypto market.
From the fundamental side:
In short, the situation is very tense now, the Exchanges are stumbling, banks are collapsing, Tether is losing its peg to the dollar and this causes a strong panic in the cryptocurrency and stock markets, plus the Fed is adding fuel to the fire, in general, we live "fun" guys ...
That is why I said that when bitcoin reached the mark above $25,000, that it was necessary to fix a larger percentage of profit who gained positionally earlier, well, everyone as one spoke about $30,000 and even higher and believed in the future To the Moon, as if they lived one day, and what tomorrow was not interested ... "Tomorrow" has come and what do we see now? Most are fleeing the market again fixing losses due to recent events in the economy, it's sad to say...
Short-term Elliot wave analysis of BTCThis trade only become active if BTC closes daily below $21,480.
Point A: Liquidating longs and late shorts in euphoria
Point B: liquidating late shorts and late longs in euphoria
Then we head to point C.
Be careful with where you put your stop loss.
Invalidation: Closing daily above point B.