BITCOIN SREP BY STEPit my trigger price action idea about bitcoin .
its the schematic picture of bitcoin step by step. THE DATE IS OUT OF MY ANALYSE
btc will go to hh1 under the red line .HH1
the second step is: engulf the yellow line even with one pip.LL2
the thied step is : engulf the RED line even with one pip.HH2
the 4th step is : broke the yellow to next base as the chart shown.LL3
5th step:BROKE THE 70K. HH3
Btcusdidea
Bitcoin- Getting back to main idea(and trend): sell ralliesOver the weekend I've argued that a relief rally can follow the strong sell-off in Bitcoin (and crypto market).
Indeed, after reaching a low at 34k, Bitcoin has started to correct and raised slightly above 36k.
However, bulls lack power, price action is choppy and the rise is not convincing.
There is no question at this moment that the medium-term trend is down and the best strategy is not to p... against the wind.
As I said in the title, I will try to sell rallies and my points of interest are 36k (yesterday's high) and 38k.
Only, AND ONLY, Bitcoin above 42k would put a stop to this bearish scenario.
Best of luck!
Mihai Iacob
Bitcoin Analysis 23.01.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
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Thank you for watching and I will see you tomorrow!
BTC WEEKLY ANALYSIS BTC / USD
Bitcoin got dumped hard recently and it’s the first time to test 100W EMA since April 2020 !
As we see in chart this 100W EMA (dynamic support) is very important …every time price closed weekly below it massive crash happens after
So now all the eyes on moving average + 30k Strong support
Bulls should show strength here or the pain will continue may be up to 20k
Pleas Note that Price can also stay longer time playing in this range for some more weeks before next decisional movement
Always adapt with the market changes
And Enjoy your time
BTCUSD Will Bounce Back on Weekly! As we projected last week BTCUSD made a dump of valleys which continues its bearish market. It will probably continue to go down around 32074 to 28943 zone area which is a very strong weekly support area and could bounce back around 45932 zone area. Confirmation of price action is needed before making buy entries. #tyor #dyor #btcusd
BTC/USD LONG & SHORT SET UP (HODL)Bitcoin (BTC/USD) continued to suffer from negative technical sentiment early in today’s Asian session as the pair continued to eye the psychologically-important 34000 figure. Bears pushed BTC/USD as low as the 34017.56 level after testing a downward price objective related to recent selling pressure around the 52100 and 48574.70 levels. Stops were recently elected below the 40921, 40842, 40362, 40230, 38832, 38602, 37782, 37593, 37426, and 37119 levels during BTC’s sharp depreciation. If BTC/USD extends its recent weakness, additional downside price objectives include the 33724, 33208, 33069, 32894, 31639, and 29514 levels.
Previous buying activity saw BTC/USD escalate to the 42692.71 level, representing a test of the 38.2% retracement of the appreciating range from 39650 to 44453.22 area. Stops were also recently elected below a series of downside price objectives including the 46219.09, 45864.66, 45807.18, 44655.08, 44763.46, 43863.32, 43211.49, 43132.91, 42544.70, 42497.20, 41919.46, and 41583.39 levels. Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 200-bar MA (4-hourly) and above the 100-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).
Price activity is nearest the 100-bar MA (4-hourly) at 42143.82 and the 50-bar MA (Hourly) at 39778.68.
Technical Support is expected around 33069.10/ 31639.47/ 29514.02 with Stops expected below.
Technical Resistance is expected around $35734.12/$37670.39/ $39514.35 -$40,000/$41,500/$44,000/ $50,000/ $53046. 01 / $55157.38/ $55526.67/ $58,000/ $60,000/ $64,000/ $68,000/with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
BTC SHORT TO $24- $26K BTC going on an A-B-C correction which is very common after a good 5 wave impulse
Blue 5 wave Elliot wave from 2017 to 2021
ABC corrective wave in RED
Wave C is an irregular correction(Wave B ended above start of wave A) and is of 5 wave series in PURPLE
Wave C has two more waves to go sub wave (4) and sub wave (5)
I believe there will be a more complex sub wave 4 in bigger Wave(C) which might go up temporarily to 40K before the final sub wave 5 ends around 26K
1) significance of 26K is it's Fib 61.8% at its all time high of 68K
2) Wave C extension of Wave(A) falls around 24K
So thae 24-26K zone is a great one to watch
Max pain in for BTC? I think not!This looks like a reasonable support for an ascending channel and I wouldn't be surprised if price is manipulated to the downside on more time to give people the impression that it's all over. What the market makers choose to do now is largely dependant on whether there's more positions to liquidate either to the upside or the downside. For now it definitely looks cheaper to liquidate the longs at 28K, at the same time build a enough short positions to liquidate as it shoots for the final wave 5. BTC after the final wave 5 will be a dead horse. It's already trading like gold and will continue to do so well into the future.
Bitcoin Bears or Bounce?Looking at this 4hr chart it's clear to me that Bitcoin is at a critical level.
If we have more downside we should find some support around $34,000.
If that does not hold then my next level to watch would be just below $30,000.
If $30,000 doesn't hold, I would look to around $20,000 next. I remember that there is a CME gap around $9,000,
but I've been running all night and I'm too tired to verify it.
So if we do continue down, just understand that anything is possible.
Do I think we will go that low?
No I don't, so I'll be looking for that bounce around $34,000.
But I am just a werewolf, so don't take any advice from me!
I spend most of my time running around in the woods and scratching myself.
I'll be waiting in the bushes to see how this plays out. What is your plan?
Owhooooo!
BTC/USD LONG SETUP(HODL)NEED A BREAKOUTBitcoin (BTC/USD) extended its recent weakness early in today’s Asian session as the pair continued to orbit the 42051.61 level, an area that represents the 50% retracement of the appreciating range from 39650 to 44453.22. Additional downside retracement areas in this appreciating range include the 41484, 40703, and 40677 levels. Traders recently sold BTC/USD down to the 39650 area, its lowest print since September, after Stops were elected below the 46219, 45864, 44655, 43211, 42544, 41583, 41027, and 40842 levels. Additional Stops were triggered below the 46487 and 41583 areas, downside price objectives related to selling pressure that strengthened around the 57670 level.
Stops were also recently elected below a series of downside price objectives including the 46219.09, 45864.66, 45807.18, 44655.08, 44763.46, 43863.32, 43211.49, 43132.91, 42544.70, 42497.20, 41919.46, and 41583.39 levels. If BTC/USD extends its recent depreciation, additional downside price objectives include the 39514, 38832, 38602, 37782, 37593, 37426, 37119, and 35626 levels. Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 42728.71 and the 50-bar MA (Hourly) at 42569.11.
Technical Support is expected around $41,500/$40,000-$39514.35/ $38670.39/ $35734.12 with Stops expected below.
Technical Resistance is expected around $44,000/ $50,000/ $53046.01/ $55157.38/ $55526.67/ $58,000/ $60,000/ $64,000/ $68,000/with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Bitcoin- to break 42500 for a test of 46k?In yesterday's post I said that I closed my short trades and, although I'm not very bullish on the medium term, I expect a relief rally from Bitcoin and the crypto market in general.
After another dip under 42k, bitcoin found bids again and now is facing 42500 short-term resistance.
Bulls seem to have found themselves and I expect a break here.
The target can be 46k with negation under 41k
Best regards
Mihai Iacob
BTC Logarithmic ChannelHere is the Logarithmic Channel for BTC. We are closer to the bottom of the channel. We can drop to ~30k to grind the absolute bottom, but I cannot see that last for long. Any investing taking place around these prices should be considered a safe investment for long term. The upward potential is massive and any dips in price from here should be treated as buy opportunities. Don't let price action and manipulation of the market with scare tactics push you to sell you BTC. BTC has many years of history and if you are new to crypto, don't freak out too much, these are just the normal cycles. If you are worried and freaking out, just zoom your chart out to really see where we are in the channel as I am showing you. Look at the overall Logarithmic price and not just a zoomed in section of price action and it'll help you understand a lot better. DYOR. Obviously this is not investing advice, I am simply helping some who might not take the time to zoom out, to see where we truly are in the channel.
Bitcoin- And down we goIn my previous analysis, I said that I don't believe that the correction will have the power to reach 46k, and looks like I'm right, with Bitcoin breaking under what should have been support at 42500.
Bulls are very, very weak and I expect to see 40k figure soon
The real problem now is not if it will go there, but what will happen if it does.
In my opinion, it will break under and the next obvious support is at 30k, interim support being at 35
I maintain my bearish opinion on BTC and the crypto market in general and I'm looking to add on my existing short trade on eventual rallies.