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BTC BITCOIN Technical Analysis and Trade IdeaMarket Observations: BTC/Bitcoin has experienced a remarkable bullish surge. However, the monthly timeframe indicates potential overextension. Moreover, recent price action pushing into previous highs on both the monthly and weekly charts suggests a possible retracement towards the 50-61.8% Fibonacci zone. This area typically attracts increased liquidity, potentially encouraging long positions from institutional investors. Trading Considerations: Counter-Trend Short: Explore a short entry near the current price level, strategically placing a stop-loss above the recent highs. Maintain a 1:1 risk-reward ratio for this trade. Fibonacci Buy: Target a potential buy opportunity close to the 61.8% Fibonacci retracement level. This aligns with the possible accumulation of long positions by larger market players. Utilize a stop-loss below the recent swing low, and define target levels as shown on the screenshot. Disclaimer: This analysis offers my personal market interpretation for educational purposes and should not be considered direct financial advice. Always prioritize your own independent research and thorough risk assessment before making any trading decisions.
OANDA:BTCUSDLong
by fxtraderanthony
Bitcoin Analysis for 2024!Bitcoin Analysis for 2024! We have been witnessing upward movements in Bitcoin for a while now. As 2024 approaches, we want to share with you the potential price movements Bitcoin might make. Bitcoin's price is hovering around the resistance range of $44,372 - $45,821 . We believe that unless Bitcoin achieves weekly voluminous candle closures above the $45,821 level, it may initiate a downward movement. If BTC manages to close candles above the $45,821 level for two consecutive weeks, the next upward target would be $53,256. However, if Bitcoin fails to secure weekly candle closures above $45,821, we anticipate its descent to the initial support range of $38,150 - $36,163. If BTC finds strong buyers in the $38,150 - $36,163 support range, it could bounce back and ascend to the $44,000 - $45,000 range. Nevertheless, it is crucial to note that for the upward trend to continue, a weekly candle closure above $45,821 is essential. In the event that Bitcoin's ascent from the $38,150 - $36,163 support range cannot surpass $45,821, a renewed descent may commence, leading to a range between $32,380 - $30,420. We believe that the actual upward trend for BTC will originate from the support range of $32,380 - $30,420, as indicated by the purple lines in our analysis. If Bitcoin initiates an ascent from the $32,380 - $30,420 support range, we anticipate it reaching $53,256 . In our 2024 Bitcoin Analysis, we focus on weekly timeframe movements rather than those on lower timeframes. Not Investment Advice. WAGMI.
by wagmitraders
4
Are you ready to Short Bitcoin Yet? {11/02/2024}Educational Analysis says BITCOIN BTCUSD may go short selling for some time according to my technical. Broker - Bitstamp This is not an entry signal. I have no concerns with your profit and loss from this analysis. Because from past week bitcoin has just pumping up to collect Sell Stop hunt from retail traders. I think it's high time for bitcoin to go short!. Let's see what this pair brings to the table in the future for us. Please check the Comment section on how it turned out for this trade. I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS, Happy Trading, Fx Dollars.
BITSTAMP:BTCUSDShort
by VishalBudhrani
9
BTC BITCOIN Technical Analysis and Trade Idea#Bitcoin Technical Analysis ⚫ Key Market Observation: Bitcoin #BTC has reached a significant resistance level on the monthly timeframe. Historical price action demonstrates consistent rejection at this level. ⚫ Anticipated Market Behavior: Given BTC's overextended state and recent strong bullish momentum, a retracement is likely. ⚫ Optimal Entry Strategy: Target a potential buy entry near the 61.8% Fibonacci retracement level. ⚫ Trade Setup: Seek a daily timeframe price swing aligning with the 61.8% Fibonacci retracement. Place a stop-loss order below the previous swing low. ⚫ Risk Management: Maintain a minimum risk-reward ratio of 1:2. Important Disclaimer: This analysis is intended for educational purposes and does not constitute financial advice.
OANDA:BTCUSDLong
by fxtraderanthony
1
Bitcoin UPDATE!ITS NOT FINANCIAL ADVICE! as i can see last time bitcoin did not breake 49k and had hard resistance and in Weekly Chart bitcoin is showing alot of bearish signs no matter what u put on chart is always showing for bearish my idea is that Bitcoin can retest again 45-49K zone if it dosnt manage to breakeout we will see again the lows which is gonna be good for buying and holding till bullrun which i expect to be on year 2025 and its better to be 50% in and 50% out in this moment NEWS ABOUT Grayscale FOR ETF! grayscale momentaly is selling btc from their trust (theres a chance because the fees are too high for GBTC) Germany In Recesion! germany is the first country on EU to go in recession (Bearish Sign Too) and i expect since germany was the first country the others will go too High Bank Loans FEES! ETC,ETC,ETC
by sakicasignals
2