Get started

BTCUSDC

BTCUSD - Short Term RSI Divergences and Key Price MovmentHello, Despite the recent bearish trend, the bullish RSI divergence suggests a potential rebound. This divergence often signals a weakening of the bearish monentum and a possible upward price movement. My Bias Bearish in the short term due to the series of lower highs and lower lows. However the bullish RSI divergence suggest a potencial rebound or at least a temporary halt to the downtrend. My Entry/Exit Strategy: Entry Point: Considering the bullish divergence, entering a long position around the current price level of $60,900 could be a strategic move Stop Loss: To manage risk, set a stop loss slightly below the recent low at around $56,000. Take Profit: Potential profit targets could be set around the $64,000 resistance level an d if bullish momentum continues towards the $72,000 peak Future Prospects Watch for a break below the $56,000 support level to confirm continued bearish momentum break above $64,000 signal the end of downtrend and a resumption of bullish activity. For Traders: Given the bullish RSI divergence, consider entering a long position while monitoring key support and resistance levels. Ensure proper risk management with stop losses in place. Regards
COINBASE:BTCUSDLong
by kashifone1
Is Bitcoin ($BTC) heading toward a -50% correction Armageddon?Is Bitcoin ( CRYPTOCAP:BTC ) heading toward a -50% correction Armageddon? That is what the weekly chart seems to suggest. I hate to be the pessimistic guy, but you don't need to be a trading and charting expert to see the similarities between 2021 and 2024. What could trigger this massive correction is the incredible pump that the ETF has created. Imagine, for the first time in its history, Bitcoin has reached a new all-time high BEFORE the halving! That proves how much excitement and overheating the market experienced. Unfortunately, the stronger the pump is, the harder the correction will be. We can compare the 2021 chart on a weekly basis, and there are too many similarities for them to be coincidences. Because of the huge ETF pump, the MACD has gone ballistic, and now Bitcoin is way overbought. The main concern is that it is on the weekly chart, so resetting this indicator will take about 2-3 months, which gives a lot of time for the price to move down and up until we finally reach a reversal, likely after an estimated 50% dump. In this scenario, the bull run would have a double peak, like the one in 2021, with another bullish phase once the correction is finished, reaching the final goal of this bull run approximately at the end of 2024. The RSI and volume are also confirming this scenario. The EMAs are positioned at the same distance from the action price. This scenario is scary. We could see a -80% correction in altcoins. I hope to read your comments invalidating this idea, because if this happen, I am definitively going back to work at McDonald!
Short
by CryptoNikkoid
8
Bitcoin BTC price, new FED rate and Powell's speech 31/07/24Today at 18.00 UTC , the Fed will announce a new rate, followed by Powell's speech. At the very least, increased volatility is guaranteed for the evening, so hedge your positions and uses stop orders and stock up on popcorn 🍿 Trading with leverage during this period is not worth it. 🤫 96% for the rate to remain unchanged - 5.5% 👎 4% for a rate cut to 5.25% today) 🔼 A rate cut is definitely an unexpected positive and a very likely breakthrough of the OKX:BTCUSDT price upwards, according to the 🐳 blue scenario. 🔽 Leaving the rate unchanged + Powell's standard comments: “the dynamics are good, but it's still far from the desired 2% inflation and blah blah blah... - this is a continuation of the correction of the CRYPTOCAP:BTC price to $62000 according to the 💔 red scenario So which scenario is closer to your heart: 🐳 or 💔 ? Write at comment (50 🚀 and we will add BTC.D and USDT.D charts to this idea)
by P_S_trade
11
BTC - ShortBTC - Short to 56,251. BTC has been going sideways since Feb 29th, 2024, respecting the sideways channel well on the daily charts. We've seen some selling here following the "M" pattern that played-out over the last 2 weeks. MACD shows some buyers coming-in but overall, we still see selling as we approach neutral. On the fear & greed index, we still have not reached peak greed so if we see a death cross on MA's in the next week, BTC can test the bottom of the sideways channel. This is normal market action...we've seen BTC ripping higher for quite some time, nothing goes straight up! -Short from 60,700 to 55,648. -Invalidation 65,273 Timeframe, 4 days to a week.
CRYPTO:BTCUSDShort
by DClayton
BTC is going to do something interesting...CRYPTOCAP:BTC update As I mentioned, the $63.8k level is very important, and we are currently at this point. We should either bounce from here or stay around this level for a few days before rallying to $72k. The high of July 1st ($63.8k) is crucial to hold. If we trade below it for several days, we may see a deeper pullback, which I am not expecting. A prolonged dip below $63.8k could be the first sign that we are heading towards a new macro low (below $53k), potentially leading to a bear market for the rest of the year. In that case, the next significant opportunity might not come until 2025. For now, I am holding everything tightly. This is a consolidation phase, not a bear market, although altcoins might take a hit due to BTC dominance being very bullish. Only strong coins are likely to move with BTC.
by GoldenTrades_
#BTC/USDT#BTC Bitcoin price is moving in an upward trend on the 4-hour frame since the beginning of the month The price is strongly adhering to the trend line. Now we have a slight breakout downwards. We are waiting for a rebound from it upwards and a 4-hour close above the trend to confirm the rise and respect the trend We have so far stability above the 100 moving average, which supports the possibility of rising We have a retest of the broken downtrend on the RSI indicator Which gives a selling saturation and increases the chances of rising Current price 66320 The target of rising on two targets The first target is 68000 The second target is 69800 The model is canceled in the event of a 4-hour candle closing below 65000
Long
by CryptoAnalystSignal
Bitcoin adjusted to market cycleI think something like this make sense? We are at a 1st leg or wave of impulse, that is led by early adapters. 2nd leg up would be BTC outperforming SPX. 3rd wave would be a market chop w/ still some opportunities. 1st wave -> buy when it's cheap (bellow 70k crowd). Then comes rally to 120-150k. Before it becomes too expensive. 2nd and 3rd wave are led by ppl missing on a bandwagon, good returns. No crystal ball, see what happens:) > Driver is the rate cuts and money at money market funds. You can also see how divergence in BTC/SPX graph was the market top for btc.
BITMEX:XBTLong
by citsvar
Record Bitcoin Open Interest Suggest BreakoutBitcoin's open interest, a metric that measures the total number of outstanding derivative contracts, has recently hit a new all-time high. This significant surge has ignited speculation among market analysts and investors about a potential price breakout for the world's largest cryptocurrency. Open Interest: A Market Sentiment Indicator Open interest is often used as a proxy for market interest and liquidity in an asset. A rising open interest typically indicates growing investor participation and a potential increase in price volatility. Conversely, a declining open interest can signal waning interest and a potential price correction. In Bitcoin's case, the current record-breaking open interest suggests a heightened level of investor engagement. This heightened interest could be driven by a variety of factors, including anticipation of regulatory clarity, institutional adoption, and the halving event scheduled for 2024. Potential for a Price Breakout While a high open interest does not guarantee a price breakout, it certainly increases the likelihood of significant price movements. If the market sentiment remains bullish, the accumulated buying pressure could propel Bitcoin's price to new highs. However, it's essential to remember that open interest is just one factor to consider when analyzing market trends. Other indicators, such as technical analysis patterns, on-chain metrics, and macroeconomic conditions, should also be taken into account. Cautious Optimism While the recent surge in Bitcoin's open interest is undoubtedly bullish, investors should approach the market with caution. The cryptocurrency market is known for its volatility, and price fluctuations can be rapid and unpredictable. Additionally, it's crucial to diversify your investment portfolio and avoid putting all your eggs in one basket. Cryptocurrencies are still a relatively new asset class, and the regulatory landscape is constantly evolving. As the cryptocurrency market continues to mature, we will likely see more sophisticated investment strategies and risk management tools emerge. Until then, investors should stay informed and conduct thorough research before making any investment decisions. Ultimately, the future price of Bitcoin will depend on a combination of factors, including investor sentiment, market liquidity, regulatory developments, and technological advancements. While the current open interest data is certainly encouraging, it's essential to maintain a long-term perspective and avoid getting caught up in short-term price fluctuations. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Conducting thorough research or consulting with a financial advisor is strongly recommended before making investment decisions.
BITSTAMP:BTCUSDLong
by bryandowningqln
Current BTC Analysis: July 2024As of July 2024, BTC has been showing signs of recovery after a period of decline. The price recently experienced a strong upward movement, breaking through a downward trend line without encountering significant resistance. This indicates potential bottoming out and a possible start of a new upward trend​​. Wyckoff's Accumulation Phases: Wyckoff's accumulation consists of several phases: Phase A: Stopping the Downtrend This phase is marked by preliminary support (PS) and a selling climax (SC), followed by an automatic rally (AR) and secondary test (ST). Phase B: Building a Cause This is the phase where the market moves sideways, creating a cause for the next move. It includes upthrusts (UT) and springs to shake out weak hands. Phase C: Testing Supply This phase typically features a final shakeout or spring, testing the remaining supply before the price moves higher. Phase D: Markup Begins The phase where the price begins to trend upward with higher highs and higher lows, breaking out of the trading range. Phase E: Trend Establishment The price moves consistently higher, confirming the beginning of a new uptrend. Current Phase of BTC. Based on the recent price actions: Preliminary Support and Selling Climax: These might have occurred in the recent past when BTC experienced significant sell-offs and subsequent recoveries. Automatic Rally and Secondary Test: BTC has shown a strong upward movement, which could be an automatic rally. The lack of significant resistance suggests that it might be transitioning out of Phase B. Testing Supply: The price behavior indicates a possible phase where the final tests are occurring. The strong upward momentum could be a sign that BTC is moving into Phase D, where the markup phase begins. Given these observations, BTC appears to be in late Phase B or early Phase C of Wyckoff's accumulation. This suggests that BTC is likely building a cause for the next major move and is preparing for a potential breakout into an upward trend.
BITSTAMP:BTCUSDLong
by The3eyedFrog
1
The similarity between BTC and Gold will shock youWelcome all I checked the GOLD chart after hitting new ATH recently and I found big similarities with BTC both assets formed : 1- Accumulation phase 2- Stoploss hunt phase 3- And finally, GOLD made the uptrend phase and printed new ATH historically BTC has followed GOLD several times before (why not? it's the digital GOLD) if we followed the pattern of GOLD then BTC now should be on its way for achieving new ATH! DO U AGREE? If you enjoyed our style in trading and analysis, support our ideas by likes and comments
Long
by Babenski
25
#BTC/USDT#BTC Bitcoin price has been moving in an upward trend on the four-hour frame since the beginning of July The price has now touched the rising trend and produced a reversal candle on a 4-hour frame It is expected to retest the level that the price reached two days ago Our target is at 68186 This is supported by the bearish saturation of the RSI aperture The rise also supports stability above the Moving Average 100 And stability is above the current trend The pattern is canceled if it closes 4 hours below the upward trend in orange
Long
by CryptoAnalystSignal
BTC/USD Short-term Bullish ReversalHey traders, here's a quick breakdown on why I'm seeing short-term bullish signals for BTC/USD, despite the recent downtrend. We've got a classic double bottom formation here, which is a strong bullish reversal indicator. Basically, the price found solid support at this level twice, showing that the bears are losing steam and the bulls are stepping in to push prices higher. Next up, we've hit the 0.618 Fibonacci retracement level and bounced back up. For those who might not know, the 0.618 level is a big deal in technical analysis. It's often a strong support or resistance level, and a bounce from here usually signals the end of the retracement and the start of a new bullish trend. We've also been retesting lower levels, which is a healthy sign. This consolidation helps build a strong base for a breakout past the previous all-time high (ATH). Without this kind of retest, breakouts often don't last. Now, let's talk liquidation levels. There are significant liquidation levels around the current price. High liquidation levels can lead to quick, volatile moves as traders are forced out of their positions, causing sharp upward or downward movements. And don't forget, BTC has become an all-engulfing liquidity snake. High-frequency trading (HFT) algorithms and institutional investments through ETFs and Wall Street are adding a ton of liquidity to the market. This means BTC can react quickly to market changes, often hunting for liquidity to fuel its next move. Looking at the technical indicators, the moving averages show a potential crossover, which is another sign that we might be shifting from bearish to bullish momentum. The Market Cypher wave indicator at the bottom shows momentum shifting towards the bulls, with increasing buying pressure and decreasing selling pressure. So, here's the game plan: Consider going long at current levels, leveraging the double bottom formation and 0.618 Fibonacci bounce. Set take-profit levels at key resistance points, like previous highs and Fibonacci extensions. Place stop-loss orders below the recent support levels to manage your risk. This is just my take based on the current charts and market conditions. Always do your own research and consider multiple factors before making any trading decisions. Always stay neutral, let the trend be your friend, and trade on.
COINBASE:BTCUSDLong
by KennyTheSensei