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Btcusdforecast

BTC close to a reversalHello Everyone. Let's dive deep into BTC today. We have a very interesting set up at this level. BTC have been moving in an uptrend channel for the past 10 years. We can appreciate that BTC is now flirting with the lower boundary of the channel providing Maximum risk reward ratio. During previous bear markets the bottom trendline of the channel has worked as a strong pivotal point providing support and a level to look for a potential reversal. Probabilities also improve if we apply Elliott Wave analysis. We can appreciate that BTC have suffered a truncation at 70k with the early end of wave 3 of the last cycle. EW suggest that a point of interest for a retracement is the 0.382-0.5 fib level of the previous wave. This is perfectly in line with the current level and previous low of 17k. We can also apply the measurement fib extension tool to see if there is any other level of interest which is in line with the current level. We can see that this last move is the 1.3 fib extension of wave A from the end of wave B which project us to were BTC is standing now. I know there are some warning signs at this level as BTC lost the 208 MA support. However, the mean (208MA) still on upward slope suggesting that the secular trend has not reverted its course yet but instead we are still in a secular bull market. If we go deeper looking at the oscillators and other indicators we can see that the RSI have now crossed up the oversold band from a deep low giving a possible buy signal. Also we are now approaching the RSI bear market trendline, which if penetrated will give a strong buy signal. Looking at the DMI we can see that as per now we are looking at a swing failure with a possible Lower High if we pivot at this level. This would also signal that bear momentum is dissipating and bulls are slowly gaining control. Last but not least is the volume. I personally do not like to look at volume on Bitstamp as I believe it is misleading as it is a low volume exchange compared to coinbase, binance and FTX. Nevertheless we can see we had to above average spike in volume back in May and June, which suggest a possible bear market climax, followed by a below average volume in the next few moves. This suggest interest as dissipated in the market and supply has stalled. These are great conditions for a reversal. If we were to look at Binance however we would notice that volume has actually increase substantially at these levels, increasing the possibility of an accumulation phase at these levels. Nevertheless there is a possibility that we will see one last spike of volatility to the downside, which if it happen will be very quick and painful but I see it unlikely to actually stay below 17 k for a long time, it will be more probably a spring, or spike pattern. This level meet my criteria for a long position and possible reversal, hence I am now looking to position myself at these levels. In case we were to lose the previous peak support at 18900, then I would switch to dry powder and wait on the sideline until a reversal pattern unfold. I hope you enjoyed the analysis and do not hesitate to contact me if you have any question. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDLong
by CFcryptoTA
1
BITCOIN: TESTING THE RESISTANCE.Hello traders, welcome to this BTC update in a shorter timeframe. Timeframe: 3 hours. Recap: As per our previous chart, BTC maintained the support level following the bullish divergence pattern. It bounced back from $19500 (divergence support) to $20500 (current resistance). Update: BTC in a lower timeframe is forming a bullish falling wedge pattern which is a good thing for the market. The current resistance will decide the next flow of the market. 1. Breakout and retest will allow the market to move in a positive direction. 2. Rejection will drop the price back to $19300. Conclusion: The market is in a perplexing stage at present and on top of that the FEDs. It will be wise to wait for a confirmation. I hope this idea was helpful for you. Let me know your ideas on the current market scenario. Note: This idea is in a shorter timeframe. So, take your trades accordingly. Trade safely.
BITSTAMP:BTCUSD
by Dexter_The_Trader
2
BTC: Bears never left!Bitcoin Intraday - We look to Sell at 20769 (stop at 21211) Our short term bias remains negative. Preferred trade is to sell into rallies. Previous support at 20800 now becomes resistance. 50 4hour EMA is at 20757. Broken out of the channel formation to the downside. Our profit targets will be 19731 and 19231 Resistance: 20800 / 21500 / 22000 Support: 20000 / 19500 / 19000 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
VANTAGE:BTCUSDShort
by VantageMarkets
BTC (short term analysis)BTC / USDT Price is hitting 1st critical support zone mentioned in my last analysis 19500$ from there we got small bullish reaction and formed a small falling wedge WHAT NEXT ? – If falling wedge resistance broken upward we are looking for 21500$ - 23000$ – If support zone break down with daily close below 18800$ we are looking for 17k or lower So, Never trade without plan Iam waiting your thoughts and opinions about BTC in comments section below ⬇️
Long
by Babenski
35
Holding my short down through giant BTC bear flag Yesterday I opened a short on BTC at 19950. Right now it looks like we are waterfalling down from the giant bear flag that was last month. I've placed a stop loss around 22k, and planning to hold until the upper 18k area; then I'll reassess the situation and see if I should take profit or potentially add to the short. This idea is more of a swing trade for a couple days; it's not meant as a short term trade, and I'd recommend having a wide stop loss and smaller position size. Because of Powell's speech Friday the general sentiment is bearish; stocks have dropped significantly over the weekend as well.
Short
by fluffystat
4
BTC weakening I haven't posted on here for quite a while, so I decided to update you on BTC. We can appreciate that BTC has been forming bearish flags throughout this bear market. These are typical distribution patterns where traders take profit and bottom pickers gamble based on thin assumptions. We can see that every time BTC broke out these formations it resulted in a strong volatile move to the downside. We also have similarities in how every time BTC recovered above the 52 MA, the loss of it would validate the pattern providing resistance and points of entry for shorts. BTC had a mild reaction based on the last inflation data that had found resistance at the Anchored VWAP of the bottom of 2018. VWAP are level of interest where institutions look for liquidity in either sides (Supply and Demand). Institution and big funds to enter or unload their bags need a high amount of liquidity in order to fill their orders or pass their assets to you, otherwise they would create a strong reaction in the market or simply lose money in the spread created. VWAP is volume weighted average price so track the price average weighted for its volume suggesting areas where the price has strong volume. BTC at the moment has clearly broke out the formation, however this time it seems there is less gasoline on fire. We have a very important level to keep our eyes on which is the previous 2017 peak. This level proved to be a strong support. At the same time the price have been overstretched to the downside which is clearly shown in the oscillators. I would be cautious at this point as strong volatility may enter in both sides at this 18800. The pure target of the formation is down to 11k which is a strong possibility now. However pay attention at the data at 18800 as things may reverse quickly. Short term I expect a retest to the broken support of the formation before a continuation to test the 18800 support. At the moment I am staying on the sidelines waiting for a strong candle signal which either confirm the downtrend and show a potential reversal. In my community we have recognised the warning signs early and we are out since 24000 avoiding a 17% drawdown of the last drop. Just always remember to use sound risk management...DCA can be powerful long term (5 to 10 year) but short term will destroy your capital as I believe we don t have infinate fund and you will find yourself in a strong losing position. DCA is best at the beginning of a bull trend rather then in a bear market. FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA
BITCOIN: BROKE DOWN BELOW THE SUPPORT.Hello traders, here's a quick update on BTC in 8 hours. Recap: In my previous update, I mentioned $21k to be a support zone for BTC. It did try to stay above it but ultimately failed to hold it. Update: The current scenario isn't looking suitable for BTC and if it continues to drop then we have support at $19k. The interesting thing to see is even after this drop the RSI is making a bullish divergence. Can this be a fakedown? Maybe. If not then $19k could possibly be good support for BTC. I have been accumulating BTC lately and I will continue with my accumulation instead of closing it. Let me know what you guys are thinking about this recent drop. Trade safely.
COINBASE:BTCUSD
by Dexter_The_Trader
4
BITCOIN: NOT GIVING UP!Hello traders, welcome to this BTC update. Timeframe: 8 hours. Recap: In my previous update, I mentioned $21k to be an important support for BTC in lower TF. And if it manages to stay above the support, we can expect a good rally on BTC. Update: BTC is still in the same zone ranging between $21k to $21.6k. It has not shown a significant pump but it is still above the support level. So far, BTC is doing good and the only resistance I can see is the 21 MA close to $22k. If BTC manages to break through it then things will be interesting. Conclusion: I have accumulated BTC at the support level. Let us see how the market plays out. If BTC breaks below the $21k then I will exit major positions and then buy back at the lower levels. What's your strategy for the upcoming BTC move? Do you expect a rally or a dump? Do share your ideas. Trade safely.
COINBASE:BTCUSDLong
by Dexter_The_Trader
12