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Bitcoin- 30k target hit, what's next?Last week I said that Bitcoin could drop hard and reach 30k soon and yesterday the price reached this target. The big question is now what? Looking at the daily posted chart we can see that the trend is grossly bearish and Bitcoin could easily drop under 30k. My idea remains unchanged, sell rallies and a expect BtcUsd to drop under 30k support The next important support is around 20k and for a more optimistic view the price should pass above 37k
BITSTAMP:BTCUSDShort
by Mihai_Iacob
14
BTC UPDATE: IN SHORTER TIMEFRAMEWelcome members to this update on BTC in 2 days timeframe. If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market. We all are aware of the rejection and this may have affected many traders. This is the harsh reality of crypto. You can make easy money here as well as lose it. The market is always volatile and uncertain. So, either you face it or give up and find something else. Moving on to the chart, BTC got rejected from $48.2k and until now it is close to a 30% drop which is not at all good. Now, it looks like BTC is most likely to enter the support zone which is between $29.6k to $33.5k. This can be a good accumulation zone if BTC bounces back from the support level. If BTC fails to hold this support level then God knows what will. But technically speaking, I am quite positive about a bounce coming soon on BTC. I may be wrong but I am surely expecting a bounce on BTC soon. Like I said in my previous update, a slight difference in a higher timeframe makes a huge difference in a shorter timeframe. In my two weeks BTC chart, things look so bearish but in this 2 days BTC chart, we have the support that we can rely on. What do you think about BTC? What is your prediction? Do share your ideas in the comment box. Like and follow for more updates. Thank you.
COINBASE:BTCUSDLong
by Dexter_The_Trader
3
Possible movement of bitcoin pirce per usdtIn a monthly basis, as shown in the chart, these are possible targets of daily trend. But if it fails the monthly pivot (black box, lower bottom), the price may reach 16700 $. But in the past, it is probable the price will return to the upper targets in daily trend, and the targets are also pictured. The movement momentum can possibly come into action from the daily box (orange box), since it is the trigger price. We'll wait to see what happens.
Long
by tenxcontracts
PLACE YOUR BETS ON $36,000It is no news that BITCOIN continues to decline from its ATH. We will continue making lower lows and lower highs until the main trend changes. Last week, I made a call to $40,000. You can see the call here - We got to $40,000, took profits and the market dumped hard. Now, Here is another one we recently tapped $34,300. I am expecting a build up, confirmation and run to $36,000 soon. Our take profit 1 would be $35,000, take profit 2 @ $35,400 and final take profit @ $36k. As we get the Take profit levels, we will monitor price action closely to determine the market direction from that point as we know the bears may still be lurking around those areas. Don't forget to like and follow for more trading updates and free signals. I wish us a successful trading week ahead. #$KC #Meekhill #Meekhillacademy #RICHMMDT
Long
by RICHMMDT
BTC The Past Present and FutureIn my previous articles, I pointed out the current status of BTC. I expect an apology from those who insulted me for saying that BTC will fall in my previous analysis :).. I think the current chart is trying to complete the head and shoulder pattern. When we look at the past accumulation regions, we can see that the previous picture is similar to this one. According to this chart, it suggests that the price may decline to an average of 33K - 28K levels. When we look at the weekly time frame, if the pattern we see is a harmonic pattern, we cannot expect the prices to rise before the fib of leg D falls to the 1.24 level. But I must say that I don't believe what I'm saying myself. So I don't think the price can go down to these levels. But if the price hangs around here, we can summarize the support zones that may occur as follows; When we projection with Schiff and Fan, we can say that the intersection of schiff and fann is a strong support. Especially the schiffin, which crosses the gann fan's 8/1 and 4/1 twice, may indicate that there may be strong support for the current price, although there is no accumulation in these regions. I marked these regions with red dots. Based on all these assumptions, I expect the price to decline to the region indicated by the green box in the chart below. I don't believe it will go any lower. I also indicated the price resistances that may occur when there is an upward trend in the future with the Fibonacci channel. Of course, these are all assumptions and calculations based on the probability of repeating past data. However, I think that the price may definitely encounter a reaction at these levels in up or down movements. When we look at BTC dominance, we can see that it is in the triangle range. In order for this triangle to be completed, I think the chart data should go down and regress to the 39 levels of dominance. If we make a measurement with technical indicators, we can say that this level will go down even more. When we measure it with Fibonacci, we see that the earliest stop point is 36. But the good news is that there is a bullish formation in graphic. When BTC completes the dominance pattern, a harmonic pattern in favor of the bull emerges. This will quickly increase the dominance to 55 . When everything in the world and in nature comes to the highest or lowest level, it definitely turns upside down. That is, the highest one begins to descend, the lowest one begins to rise. It's like the law of physics. This never changes.. Nothing stays always down or always up. We can see this when we look at the BTC fear index. If we talk about indicators; Considering that rsi graph data is a reflection frequency, we can use rsi not only with numerical measurements but also with graph measurements. I know it sounds silly, let's look at the graph. I think there is a shark pattern on the rsi in the chart above. I know that graphic analysis will not be done on the indicators, but I would like to share it with you because it works for me most of the time. According to the theoretical knowledge, this harmonic pattern should reduce the data numerically. If this is a shark pattern as I thought, the rsi value should regress up to 10 . If we compare this with the real price chart, we can think that prices can decrease up to 30K levels on average. We can see the power of the sellers on the aroon indicator in the daily time frame. We see that the trend in the adx indicator is strong and the levels of the adx should regress in order to start an upward movement again. but this way it can point to new trend. Cmf is my favorite indicator. It never surprises. It can even eliminate manipulated movements. It's like a graph filtering indicator for me. So I see that despite such a strong price drop, it still does not produce a strong signal. In order to say that the prices will definitely go up, the cmf must go down to -20 and below. Currently at -5 levels. Momentum indicator shows -3100. This value definitely indicates an upward reversal. But according to an algorithm that I have formulated using the data of all of them together with other indicators, the value of momentum indicator for upturn does not reflect the truth yet. In the algorithm I formulated, the ratio of the momentum indicator to the other indicators has always changed direction. However, although the value of the momentum indicator is very high, its proportioning with other indicators does not give the return score. As a result of the prolonged decline of BTC, I think the data of this indicator is bottom. To summarize briefly; I expect the BTC price to be in the 24K to 30K range. After returning from these price levels, I think that a long-term rise is certain. NOTE: This is not investment advice.
by CryptoBrainn
BTCUSDBTC/USD may be about to open its May trading below the 40,000.00 mark. Even if a sudden spurt upwards develops it will have to be strong to create a positive short term outlook for Bitcoin. The biggest and most famous cryptocurrency among the heap still remains ‘champion’, but a return to its bearish trend has likely caused some speculative fatigue among BTC/USD traders. BTC/USD has stumbled badly in April after beginning the month near a value of 47,400.00. The broad cryptocurrency market has also been overtaken by dark shadows again, and a correlation between the likes of Bitcoin and negative results in the NASDAQ 100 are being seriously discussed, even though they are not proven. Riskier trading assets have certainly seen less speculative buying the past month. The question is when a return of risk appetite, and perhaps even value seekers will start to create upwards momentum. As of this writing BTC/USD is near the 39,500.00 level and has proven choppy the past few days. A low of nearly 37,660.00 was displayed on the 26th and 27th of April and the last time this value was exhibited was on the 13th of March, yes, essentially when Bitcoin began its two week upwards climb. The high price reached on the 28th of March which drove past the 48,000.00 barrier, led many backers of BTC/USD to potentially believe sunnier days were ahead and the long term bearish trend was dead. This however did not prove to be reality. Although Bitcoin remains the key asset in the cryptocurrency market it remains under pressure. If the 38,000.00 mark were to prove vulnerable in the short term, this could set off additional fireworks which may ignite further nervous sentiment. The correlation to Bitcoin and the NASDAQ may appear farfetched to many, but a comparison of one year technical charts between BTC/USD and the NASDAQ 100 look eerily similar. Bitcoin may not be believed as a cornerstone of the financial world by conservative financial institutions or investors, but its trading has mirrored nervousness in the global equity market. The next week of trading is sure to be rather tension packed as investors await the next U.S Federal Reserve interest rate pronouncements. Will BTC/USD be affected? BTC/USD Outlook for May: Speculative price range for BTC/USD is 32,100.00 to 50,900.00. If a speculator wants to pursue more downside price action they should be fully aware that BTC/USD is near important support levels. However, if BTC/USD breaks below the 39,000.00 level and sustains price action below this juncture without technical signals that a reversal is about to occur, further downside could be tested. The 38,500.00 level could be viewed with dangerous suspicion. BTC/USD has proven in the recent past to stage reversals upwards, when the 38,500.00 vicinity comes into view. Yet, if BTC/USD proves vulnerable and the 38,000.00 mark were to falter, this would certainly set off alarm bells among speculators who may believe lower price action is going to be seen short term. If March lows are broken and the 37,000.00 support level failed, a test of late February prices could be seen. Speculators who believe BTC/USD will live up to its reputation and provide a strong reversal higher cannot be blamed. However day trading BTC/USD and holding onto Bitcoin as a long term investment are different. Day traders need to choose their leverage and targets carefully. BTC/USD could certainly start to launch upwards and if the 40,000.00 mark is penetrated higher and prices are sustained and a move towards 41,000.00 suddenly erupts, other buyers will be tempted to join the party. A move above the 43,500.00 juncture and a test of 44,000.00 could create additional optimism. BTC/USD can move fast and speculators who are willing to bet on upside may be proven correct, but being able to participate in a real upwards trade instead of merely predicting the move are two distinct beasts.
BITSTAMP:BTCUSD
by SmoothJB
BTC UPDATE: IS THIS A RETEST???Welcome amazing traders. This BTC update is in a shorter timeframe of 1 hour. First of all, if you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market. In the last 24 hours, we saw some greens on BTC but soon it dropped back to the level it was before. We have been using a higher timeframe to view the market and we don't see any drastic changes. Coming into a shorter timeframe like 1 hour, we can see some good changes. Currently, as you can see that BTC broke out of the upper trendline and dropped back. In trading lingos, we called it a 'Retest' and after every breakout and retest, if we have a bounce-back then it most likely confirms a bullish move. At present, BTC is trying to make a bullish move. Also, BTC has formed a rising wedge pattern and it is holding support at $39.4k. Now, we have a Goliath to face before going any further and that is the 21 MA acting as resistance which is at the $39.7k level. If the bounce is confirmed and BTC breaks above the 21 MA then we can expect a higher rally in the market. All this will turn into a false hope or get invalidated if BTC breaks down below the $39k support level (in an LTF). If you wish to trade on BTC then you can enter at CMP and keep your SL below $39k. That's all from my end. If you have any doubts or want to share your ideas then feel free to write them down in the comment box. Thank you.
BITSTAMP:BTCUSDLong
by Dexter_The_Trader
8