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BTC - Are we in a Bull Market?Hi guys. Welcome to my Macro TA analysis on Bitcoin and the bull case. I like to use different tools to see if i can find patterns that things clear, especially for long term/ macro trends. Since it is becoming more likely that we are in the beginning stages of a bull market atleast for bitcoin. Its now necessary to keep an eye and find confluences. What i have on my charts today are: 2 moving averages Blue line = 50 month moving average Yellow line = 21 month moving average 2 indicators 1. Wave trend oscillator 2. ADX and DI These 2 indicators i like because they help establish direction of trend by marking overbought or oversold areas. Gives somewhat of a picture on momentum as well NOw lets first look at our moving averages the Blue and Yellow lines. Just looking at the placement of the candles in relation to the lines. Anytime we are above the yellow, we are in a bull market Anytime we interact with the blue, its marked a solid BUY opportunity. But taking a focus on the yellow line, as to stay on topic with our title. The green circles highlight everytime we've interacted with the yellow line coming from the blue line. Very important to highlight this, as we are CURRENTLY in the process of interacting with yellow line. We are also going to close APrils monthly candle, so how we react to the yellow line is key to knowing if we are indeed in a bull market. OUr previous data points (2 in #), which is not many. Indicates that it takes 1 candle to hover right below yellow line, BUT the next monthly candle breaks through the yellow line. So perhaps MAY we do get above yellow line. Remember, however that this does not mean its definite. It is not a definite or sure thing we repeat history. Its more about probabilities. But one way to use this in trading, would be to see what we do in May and June, and if their is a confirmation candle during Junes close. That can be an opportunity to get in for the entire duration of bull market. Now lets look at the 2 indicators. 1. Wave Oscillator -> Normally i use this in a way to determine buys and sells. And i would buy if the green line goes to the lower horizontal dotted green/ lined green combo at the bottom. And sell when the green line gets over the red horizontal line. But what im using this now for is how it moves or reacts when we get to yellow line. What i came up with is, mainly looking for curvatures and placement of green line with red dots. From previous 2 green circles, green line has to be on top of the red dots and the green line should be curved upwards. Currently we have both of those happening and we are at a lower low compared to previous times we repeated this. This is a great thing but there is a slight danger. Since this indicator is creating a lower low and price action is creating higher low as indicated by the white trend lines. This is a bearish divergence. We need to be watchful of this. If this plays out, we can see drop in price. Probability of this playing out for now is low as well. 2. ADX & DI - For this we have to note the white boxes drawn. These atleast the previous one, indicates a bear market. Ive highlighted the 2015 area because it is similar to how we are acting on ADX DI currently. One thing to note and in this chart goes against the bull case or has not yet confirmed yet. Is that the white line or moving average, needs to be curved/ pointed UPWARDS to indicate a bull case. And we must keep an eye on this as well. Currently we are showing a bull cross of green line being over the red line which is a good sign so far. If in the next couple months, the white line does curve UPWARDS. That would make this inddicator supportive of the bull case, in my opinion. CONCLUSION: AS per this analysis on the MOnthly time frame. We are still not yet in a CONFIRMED bull market. However, the current interactions with the yellow moving average, the upward curve of the Wave Trend Oscillator and its green line being on top of red dots indicate we are perhas 1 to 2 months away frm confirming. We have to keep observing the ADX and its white line particularly. If it curves up, this will support the bull case. One danger is the bearish divergence on wave oscillator. But remember confluence is more support of divergences, meaning if multiple indicators 3+ are showing it, it may be MORE likely. So it is something to search for. (be on the look out for an analysis lo0king for divergence). All in all, we could be in the beginning stage of a BULL MARKET, and next 2 or so months will be crucial for BITCOIN, how it interacts with yellow line if above or if pushed lower, if ADX white line curves up and if wave trend oscillator cointunues its upward trajectory towards red zone. Hope this sheds some light on Bitcoin. If you enjoyed this, please boost, follow and if you have any thoughts of your own COMMENT. I'd like to know what you think. Also ill be posting updates not only for crypto but other markets as well. DISCLAIMER: This is not financial advise, i am not a financial advisor. The conent expressed here are my opinion only and for educational purpose. Always remember to focus on risk management when trading and to protect yourself with stop losses.
BITSTAMP:BTCUSD
by SafofAllTrades
BTC Dominance Resistance BTC Dominance Resistance The over extended RSI combined with the parallel channel resistance suggest BTC dominance would likely turn to the downside as it has done in the past. I estimated the downturn to be 7 - 12% at least but its done more damage in the past declines. I also think there is a possibility that BTC dominance could surge with a BTC price surge into the red dashed line of long term resistance and get rejected here with that 7 - 12% pull back to the 50 MA. I have included arrows with these scenarios. These are small moves i know but if you are trading alts or BTC these trigger points could help flip from one to the other, or at least help indicate alts are gaining steam. If we got an alt seasons or it eth took a run here we could see the BTC dominance take a hit. Recognize a decline in BTC dominance does not necessarily mean the price of BTC will decline, it could just mean that Ethereum or other alts are out performing its price action temporarily. I actually think BTC looks very strong at the moment, and as a long term holder I'm not toying with my position. Its a very simple chart that offers perspective in the BTC/ALT dynamic. I actually did share elsewhere with a little blue birdie before we got that weekly falling star. I only mention this so you know this isn't a reaction to that falling star. I had predicted a pullback before we got it. I hope this chart can help you with your positioning in the crypto market in the near term. It should not be used in isolation but as more as a tool to help derive what direction the general wind is blowing in for alts and BTC. Happy Trading Folks, have a great weekend PUKA
CRYPTOCAP:BTC.D
by PukaCharts
BTC USD SELLERS COMING SOON FOR THEIR CHANCE {06/APRIL/2023}Educational Analysis says BTC USD may go Short according to my technical. This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why short? I have mentioned the reason why it will move down from here. selling pressure build-up. I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS. ENTRY - 28,523.85 STOP-LOSS - 28,754.65 TAKE PROFIT - 15,767.21 THE RISK-TO-REWARD RATIO IS 1:55.27
BITSTAMP:BTCUSDShort
by VishalBudhrani
BTC/USDTThe current trend is upward, but we have three situations ahead of us 1- Orange channel: because it has hit the of top the channel, it is likely to correct and continue to the bottom of the channel, which can move to the range of 27k and then to 32.5k, which according to the head and shoulder pattern in RSI, this movement can be considered probable. 2- It can break the top of the channel and move towards higher targets (if it breaks the resistance of 32.5k, it can go up to 34.5k or if it cannot break the resistance of 32.5k and correct it) 3- It can descend from here and break the bottom of the channel and move towards 20k. But in case of decline, it will definitely be supported by ma100. And a very important point: At the moment, the dominance of Bitcoin has reached the top of its channel, if it goes down, it is in favor of altcoins, if it goes up, it is against them. My prediction is that Dominance will rise and Bitcoin will range so that altcoins will not suffer too much, in which case we will see an alt season similar to 2020 in the future after Dominance falls from the upper limits.
by mohsenomidy
Btc upward trend and patiently maintain The turmoil of Bitcoin is indeed a torture. Whether it is time or space, this is a long -term game. For those who see many people, they can only wait patiently for the second outbreak. It is recommended to buy this position at a price of 27,400, control the risk of 26,800 and the target 29200 ~ 31600 The picture above is the daily chart of Bitcoin Bitcoin bullish is based on the following points: 1. The current Bitcoin impact can be regarded as a short -term formed top, or it can be regarded as adjustment in upward. The difference between the two is whether the two can maintain 26500. 2. According to the research and judgment of my trading system, the current height of C Wave 1 continues. As long as there are still 26,500, the rise will continue. 3. The upper pressure is 29200 ~ 31600, and the lower support is 27300 ~ 26500. The transaction method is not complicated, just like building blocks, there is no complex structure and technology, but you need to spend a little time to ensure that each step is not wrong. Then continue to move forward. BITSTAMP:BTCUSD BINANCE:BTCUSDT COINBASE:BTCUSD
Long
by CheetahAttack
1
btc:High volatility, the next goal is to hit 30K?Last week, the U.S. dollar remained weak and risk appetite returned strongly, keeping Bitcoin (BTC) firm. Technically, continue to pay attention to how Bitcoin breaks through the range consolidation. If it can break through the top of the range at 29,000, it may challenge the 30,000. Bitcoin (BTC) Holds Highs on Weaker Dollar and Strong Return of Risk Appetite The general financial market environment was favorable for Bitcoin (BTC) last week. Despite a series of hawkish comments from Fed officials and rising market expectations for a rate hike in May, the U.S. dollar remains weak and risk appetite has seen a strong recovery, which constitutes support for Bitcoin (BTC). As worries in the U.S. banking sector dissipated, Fed officials took a hawkish stance in favor of continuing to raise interest rates. The chairman of the Richmond Fed said that "as long as the risk of inflation persists, we will continue to raise interest rates"; the chairman of the Boston Fed said that "we will not cut interest rates this year, and will continue to tighten policies to fight inflation"; the chairman of the Minneapolis Fed said that inflation must be fought, The 2% target will not be changed. In terms of Fed rate hike expectations, at the beginning of last week, the market expected that the possibility of the Fed continuing to raise interest rates by 25 basis points in May was less than 20%, but at the end of last week, the probability of continuing to raise interest rates in May increased to around 50%. Even so, the U.S. dollar index is down 0.5% for the week, and the dollar’s ​​weakness is bullish for Bitcoin (BTC). This week's rise in risk appetite has particularly supported the prices of riskier assets such as Bitcoin (BTC). Although the dissipation of worries in the US banking industry did not make the Fed's policy outlook return to hawkishness, investors' appetite for risky assets has become greater than before the Silicon Valley Bank crisis. The S&P 500 surged 3.48% last week, hitting a one-and-a-half-month high. The data released by the United States last Friday showed that the core PCE price index recorded an annual rate of 4.6% in February, while it is expected to remain at the previous level of 4.7%; the overall PCE price index recorded an annual rate of 5.0% in February, lower than the expected 5.1% % and the previous value of 5.3%. As the Fed's favorite inflation indicator, the unexpected decline in PCE inflation will increase the possibility of the Fed pausing interest rate hikes, thereby continuing to suppress the dollar and support risk appetite, creating conditions that continue to favor the trend of Bitcoin (BTC). Bitcoin (BTC) price trend technical analysis: If it breaks through the consolidation range, it may try to break through $30,000 The four-hour chart shows that Bitcoin (BTC) has fluctuated in a large range of 26,700-29,000 since March 18, and has entered a smaller range of 27,700-29,000 since last Wednesday. Short-term suggestions focus on how to break the smaller range interval. If Bitcoin can break through 29,000, it means not only breaking through the small range but also breaking through the large range, or ushering in more room for growth, and it may point to 30,000 and higher levels. And if it falls below the support around 27700, the bottom of the small range, it may fall to around 26700, the bottom of the large range. If it continues to break down, it means more downside space. I have been busy with my own affairs recently, so it has not been updated for a while. The overall idea of ​​​​Bitcoin has not changed. You can hold it with peace of mind.
BITSTAMP:BTCUSDLong
by Navigation-h