Btcsetup
BITCOIN ANALYSIS with target 9750 USDHello Traders! Bitcoin is currently at $ 9,200. As we have been waiting for, we have been moving to the side for several days. We have blue lines on the chart that form a channel between $ 9,000 and $ 10,000. We should not exceed these values in the foreseeable future. We expect the price of BTC to rise with the next target of USD 9,750. This target is confirmed by both the Fibo and S / R zones.
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BTC/USD FORECAST- 3 TRADE SET UPS First trade- Set Short entries at $8600 & $8860 Tp.1 7860 Tp.2 7,086
Second trade- Set Longs at $7080 & $6686 Tp.1 $8260 Tp.2 $9380 Tp.3 $10,280
Third trade- Set Shorts at $10,286 & $10,462 Tp.1 $9,600 Tp.2 $8,860 Tp.3 7,868 Tp.4 6,500BTC/USD’s ability to remain above the 7473.42 area will be closely scrutinised by traders intent on assessing the sustainability of the recent move, as this area represents the 23.6% retracement of the 10540.49 – 6526.00 range. Likewise, a move back above the 8059.54 area will be seen as a bullish development as this represents the 38.2% retracement of the same range. Below current price activity, traders anticipate Bids around the 7597, 7473, 7313, and 7117 areas. Above current price activity, traders anticipate Offers around the 8177, 8340, 8585, and 8799 areas.
Price activity is nearest the 50-bar MA (4-hourly) at 7,674.59 and the 100-bar MA (Hourly) at 7,972.29.
Technical Support is expected around 7662.03/ 7568.45/ 6526.00 with Stops expected below.
Technical Resistance is expected around 8587.90/ 8799.53/ 9006.95 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
BTC/USD SHORT SET UP TO $7,000/ AT $7,000 GO LONG TO $10,480Sell BTC/USD
Entry 1 8680
Entry 2 8568
Sl 8900
Tp.1 8,180
Tp.2 7,775
Tp.3 7,520
Tp.4 7,186
BTC/USD’s ability to remain above the 7473.42 area will be closely scrutinised by traders intent on assessing the sustainability of the recent move, as this area represents the 23.6% retracement of the 10540.49 – 6526.00 range. Likewise, a move back above the 8059.54 area will be seen as a bullish development as this represents the 38.2% retracement of the same range. Below current price activity, traders anticipate Bids around the 7597, 7473, 7313, and 7117 areas. Above current price activity, traders anticipate Offers around the 8177, 8340, 8585, and 8799 areas.
ONCE SHORT ends
BUY limit set up
entry 1 $7,080
entry 2 $ 6,680
sl 6300
Tp.1 7,600
Tp.2 8,100
Tp.3 8,600
Tp.4 9,600
Tp.5 10,240
BTC/USD SHORT SET UP(GO LONG AT FINAL TAKE PROFIT10540.49 – 6526.00 range. Likewise, a move back above the 8059.54 area will be seen as a bullish development as this represents the 38.2% retracement of the same range. Below current price activity, traders anticipate Bids around the 7597, 7473, 7313, and 7117 areas. Above current price activity, traders anticipate Offers around the 8177, 8340, 8585, and 8799 areas.
Are We Ready for the Big Bitcoin Crash? A Different Perspective.Good Saturday Tradies.
Buckle up and gear up for the next possible crash. All signs are pointing south.
A DIFFERENT PERSPECTIVE...
It has completed 3 super waves - meaning we are in the corrective phase of the super waves. I am of the believe that the recent uptrend was part of the corrective wave.
- MAs are all moving downwards (per my previous analysis).
- It has started moving out of the high NVT signal downwards.
- 314 MA has started moving downwards. If the 200 MA starts moving downwards with it (which it will if BTC goes south) => then its crash time!
The only saving grace for BTC will be if it levels out here for consolidation over the next few months - which if it is in the corrective phase, it won't. In this scenario, the MAs will cross back over and it will either keep on a flat corrective pattern for a long period or it will slowly start moving up again but only if it pulls its arse out of the overbought NVT zone and moves into the lower half in the buy zone (hallelujah for parabolic lovers). Looking at the NVT ratio, it is highly unlikely it will move north right now.
If it does level out then starts to uptrend, the only best time to buy in would be when the MAs cross back over.
If it doesn't level out (and goes south)...
FIRST STOP: 7800-8100 mark
Then...
At best, we will reach the 3500-4500 mark.
At worst, well, you can see from the chart. I don't want to jinx bitcoin, though I highly doubt it will get to that mark.
My thoughts are around the 3500-5000 mark.
The whales have had their fun. Now its time for short term traders to benefit from FOMOs. :)
(Possibly bye bye moon....for now...)
What goes up must come down.