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May 31st Decision Time (BITCOIN)We are coming up to the most important week of the bullrun for bitcoin , do we hold the 0.618 (fib Fan) Losing this fib level would change all Macro projections for this bullrun. May 31st is the day that could see a shift in momentum. May 31st is a Monday, I expect a big move to start happening early hours of Monday before the trading day even starts for most. If these Fib time zones turn out to be accurate pivot points in bitcoin the next one would be January 10th 2022, the top of the Fib Band on this date will be 280k bitcoin which lines up with Plans B price prediction of 280k. cointelegraph.com If we do break this fib level(0.618 Fan) and starting closing weekly candles under it, next targets would be about 25k and this would be the last line that bitcoin needs to hold to keep this bull run going, a break of 0.75 Fib Fan would confirm that we are going into some kind of a small bear market.
COINBASE:BTCUSD
by Sporia
1
Bitcoin heading for 42K zone. Will we see a breakout ?Finally #bitcoin is back in action. It is constantly moving up at an impressive pace. Going by the chart, I have marked two zones for BTC. As long as it stays within the Green zone, it will stay bullish. However if it enters the Red zone, then it will turn bearish. Hopefully today we will get to see where BTC is heading. If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks. Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
by Manjyot
BITCOIN Convergence/Divergence of cycles shows we are on track?On this study I will look into one of my all time favorites, the comparison of Bitcoin's cycles and how they way they converge or diverge from each other can give a meaningful interpretation of current movements and a projection of future price action. In particular my focus will be on the current Cycle (the 4th historically that started on December 2017, displayed by the orange pattern) and how it compares with Cycle 3 (November 2013 - December 2017, displayed by the blue pattern). ** Similar previous studies ** This is not the first time I compare the two using the Convergence - Divergence model. My initial publication here (have done even older ones on reddit) was the following on May 2019, that projected BTC's correction during Q3-Q4 2019: After that the model showed on November 2019 how the $6000 level was a good buy opportunity (and would have been the bottom if it weren't for the March 2020 COVID flash crash): On April 30 2020 it showed again a potential divergence: While my most recent one on March 2021, which was centered around the Cycles' halvings, showed why they two Cycles would converge again soon (which eventually happened). ** What happened now? ** From a technical cyclical perspective and only on the longer time-frames, what happened now was exactly what the Convergence - Divergence model suggested, i.e. after a prolonged period of time where the two Cycles (Cycle 3 and Cycle 4) diverged (from late November 2020 to April 2021), they eventually converged and during the crash of the past 2 weeks, they have started to diverge again. This time, it is Cycle 4 (i.e. the current one) that has corrected its aggressive 6 month parabolic rally and is diverging below Cycle 3. ** Is this divergence dangerous ** The obvious answer based on the model is that this divergence is natural and by all means not dangerous to long-term investors. In fact it is perfectly aligned with the Theory of Lengthening Cycles and Diminishing Returns that I have analyzed here on multiple occasions. That Theory suggests that every Cycle is longer in duration than the previous one and its peak is logarithmically lower as BTC offers diminishing returns on its quest to greater adoption by the market/ society. To be fair, that shouldn't be regarded as a 'theory' anymore, as practically it has been correct for each of the previous three Cycles. As you see on the chart, Cycle 2 (June 2011 - November 2013, displayed by the yellow pattern) was longer than Cycle 1 (July 2010 - June 2011, displayed by the red pattern) and Cycle 3 was longer than Cycle 2, all of which made peaks lower (as of the same scale) than the peaks of their respective previous Cycles. ** What does this model mean for us now? Fear kicked in ** That means that for some time the current Cycle should continue to diverge from Cycle 3 and take longer until it makes its peak, lower than Cycle 3. Whether that will be on the upper light-blue line, the red line or the lower light-blue line (it should in theory), that's debatable. One thing is for certain right now as the chart below shows us, and that is that fear has kicked in once again: As you see on this chart, every time fear has kicked in (i.e. Cycle 4 diverged below Cycle 3), that proved to be a great Buy Opportunity. On the other hand, during maximum greed (Cycle 4 diverging above Cycle 3), the price corrected. What do you think? With fear having spread across the market and the price diverging from the previous Cycle is this a good time to buy? Is Bitcoin right on track or this is the start of a new Bear Cycle? If the theory is correct, does it mean that we will now experience the lengthening of the new Cycle? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Bullishcharts --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
101
Reversal Starting May 31st (BTC)If we start closing weekly candles above this 0.168 fib level we could see the start of a reversal coming , the date I get with the Fib time zones is May 31st . I have been covering this date here for weeks about that date possibly being an important pivot point , if we start closing weekly candles above 0.168 fib the chances are, momentum will swing to the upside. If we do break this fib next ,target would be 24k at the 0.75 fib. Recovery will take weeks if not months, HODL . If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry. – Satoshi Nakamoto
COINBASE:BTCUSD
by Sporia
BITCOIN making a Death Cross. A Pitchfork Approach.On this study I display the whole Bull Cycle of 2019 - 2021 on one single chart using the Pitchfork tool. This illustration is important in order to put into context where we are now following the downtrend of the recent weeks and in particular the flash crash event of the current one. ** The Pitchfork of 2019/2020/2021 ** As you see I plot the tool (on the 1D time-frame) starting from the bottom of the previous Bear Cycle on $3100 all the way up to the first (abnormal due to the Libra euphoria) High in June 2019 and then the equally abnormal (due to the COVID flash crash) bottom of March 2020. We see that the April 2021 High was made on the 0.786 level (yellow line), while this week's flash crash (another abnormal event) hit (and rebounded so far on) the Pitchfork's median (orange line). The median has previously acted as a Resistance in late November/ early December 2020 (when BTC was attempting to break its 20k ATH). At the same time the RSI has come close to its 2 year Support Zone on the 1D time-frame. But perhaps the strongest Support and the one that I've mentioned on previous studies separates the Bull Cycle from the Bear, is the 1W MA50, which is on $27900, as shown on the chart below: ** The 1D MA50/ 1D MA100 Death Cross ** What is even more interesting, is the 1D MA50 (blue trend-line) - 1D MA100 (green trend-line) Death Cross that is being formed today. Even though that is theoretically bearish, since the June 2019 High, two out of three such Death Crosses have been formed after the bottom was in. For those who think that this week's flash crash is similar to the COVID one (March 2020), then it is possible that this Cross indicates the bottom. For those who find more resemblances of today with the sequence and the Death Cross after the June 26 2019 High, then there is still room to fall. As you see on the main chart, every Pitchfork level has been tested (and held) successfully as Support during the 2020/2021 rise (I've designated those with the arrows of different colors). If the Median isn't the bottom, does that mean that the 0.236 is next around $25000 - $27000? What do you think? Is this Death Cross a sign of Bottom or not? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> AlanSantana --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
112
Bitcoin Bull Run Is Over ? Eventual drop below 40k is likely IMOPrice is consolidating in a daily range since the past two months ,profit booking is clearly visible around 65000 last April Mid. BTC likely to continue in the same range 45k-60k for few more weeks and gradually starts to erase most of its gain in our opinion. Obviously range top and bottom are ideal for scalps, however, we do not recommend any serious long term investment at this price level. Okay to go price is the 50% fib which is around 37k and an ideal level to invest for long term is below the 61.8% Fib level (21k-30k).So be patient, long invincible bull run is over ,invest gradually and hold it for long term, definitely it gonna reward . Trend : Range Signal : Scalp in 45-60k price level Okay to go long price : 37k Ideal price for investment : 21-30k
COINBASE:BTCUSDShort
by UnknownUnicorn13514545
2
Bitcoin getting ready for another Bearish roundJust when everyone thought the dark days are over for BTC, but doesn't look like it has reached a promising level yet. Going by the chart, Bitcoin has broken the upward moving trend line and it will now be moving in a descending triangle . It is crucial that it finds support at the 32K level. Going by the volume profile, it should potentially be able to hold that area. At an indicator level, Stoch RSI and MACD has are showing Bearish sign and current price have moved below all EMA's. Ideally, Bitcoin should bounce off the blue zone on the chart, and then break upper part of the triangle. If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends. Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks. Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
Short
by Manjyot
BITCOIN (update) Is a daily closing above the 1H MA50 bullish?Short-term update on Bitcoin's price action today following the immense volatility of the past few hours. The chart on the left is on the 1D time-frame, while the chart on the right is on the 1H time-frame. I am using both in order to more effectively illustrate the importance of the 1H MA50 (blue trend-line) on the 1D (daily) scale. During this 2 week downtrend, BTC has (marginally) broken above the 1H MA50 but has never closed a 1D candle (day) above it. The last daily (1D) candle closing above the 1H MA50 was on May 08. After that, the strong selling sequence started. That indicated that sellers used this hourly break-out to trigger more positions and drop the price before the daily session closed. In fact until today it has never even crossed the 1H MA100 (green trend-line), which along with the 1H MA50 formed the Lower Highs Resistance Zone. Today the price crossed the 1H MA50 by the highest price range since the selling started. Since the 1W MA50 (yellow trend-line), which separates Bull from Bear Cycles, held yesterday and initiated today's rebound, will a daily closing above the 1H MA50 restore the bullish sentiment at least for the short-term? Feel free to share your work and let me know in the comments section! Please like, subscribe and share your ideas and charts with the community! -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> AlanSantana --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
15