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BITCOIN Is this June21 all over again or a new paradigm unfolds?Another selling sequence for Bitcoin and another Lower Low since the November 10 All Time High. This (very) bearish price action is close to invalidating the paradigm that BTC is repeating the May-June-July bottom sequence. More specifically it is about to test the August 05 2021 low. A break below that Support, invalidates the whole pattern. On June 22 2021, that Support level held and BTC made its bottom that led it into the late July recovery. This time? Feel free to share your work and let me know in the comments section! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
42
BITCOIN fractals and the critical underlying trendline to watch!This isn't just yet another comparison of the price action since December with the fractal late August - September. This time I want to place more emphasis on how a key pivot trend-line can offer support and work in favor of a price rally. As shown on this 1D chart, the two fractals are similar, also very symmetrical as not only did both use the 39600 as Support but at the same time have a High on the 52900 Resistance level. It appears that currently we may have completed step (5) and as the RSI is rising, the Triangle (green) may soon break upwards. The 4H MA100 (red trend-line) was the confirmation signal on October 01 2021. What can further strengthen this bullish break-out case is this Underlying Pivot trend-line that started all the way from the November 10 2021 All Time High (ATH). As you see, Bitcoin was testing this from below with rejections from Nov 10 to Dec 22 and since then is pivoting at the top of the trend-line. We have seen in the past how important underlying trend-lines are for BTC, especially during uptrends (check my previous studies). Whatever the gravity of this trend-line might be, we have to pay attention to two Resistance levels on the short-term, the 4H MA100 (red trend-line) and the 52900 Symmetrical Resistance level. Feel free to share your work and let me know in the comments section! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
16
BTCUSDHello traders, starting this week I will start doing my weekly analyzes for the year 2022! I wish you a happy and fulfilling New Year As I have been telling you since November 14th... in case of a weekly closing below 59600 I will prepare for SELL up to the area of 48000 or even 42000 ... BTC hit my number 3 target and bounced hard THIS WEEK...even if I was harshly criticized and many laughed at my technical analysis ... here that BTC also reached my target no. 3 and now it is very close to continue the road to 36900 or even 30000 However, being an extremely difficult area, I will wait until January to close to make a decision! if it closes over fibonacci 618 for 1 month I will look for BUY at 48k or even 53 ... if not, SELL up to 30k NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
BITSTAMP:BTCUSD
by BloomFX_SIGNALS
4
BITCOIN Is this a Falling Wedge bottom formation?Well the title basically sets the question right. A comparison of Bitcoin's current Falling Wedge with the previous one that lasted throughout the whole month of September, reveals many similarities. I've marked the legs with numbers with (1) being the Initial Big drop that kickstarts the Falling Wedge (with the Ichimoku green), (2) the fake break above the Wedge (with the Ichimoku in red), (3) the last flush that creates the bottom formation and initiates (4) the true break-out above the Wedge. Notice the importance of the LMACD Crosses below as well as the fact that today's flush reached as low as the September 21 2021 low, which is the current Support. Do you believe that BTC is on a 'last flush sequence' that will form the bottom and initiate the break-out? Feel free to share your work and let me know in the comments section! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
28
BTCUSD - in very narrow corection and...Morning Traders, I had mark entry after price break support on 45703.50 and close first candle bellow that support. At this time giving profit of 2700$. not to bad. If you open short position wait for price responds. OK, lets talk about current situation. Price is in very narrow correction. Most of the time narrow correction means price will explode either direction. At this time we do not know direction price will go. Momentum is in neutral zone then we can not open any positions. Also price touch bottom of channel. I think you know what is that means. There is a chance that price will move higher. At this time price is trap between 42263 and 41312. Again vertical red lines reflects in the FUTURE change direction. There is also support on 40467. Any candle breaking narrow correction and closing with significant length will be signal to open position one of the directions. You can always change to lower time frame to get better entry. DON'T FORGET TO LIKE THIS ANALYSIS. cheers, Jim HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT , IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
BITSTAMP:BTCUSD
by jimmycdn
2
BTCUSD - remain on Holliday...Hello Traders, HAPPY, HEALTHY AND PROSPEROUS NEW YEAR. During Christmas nothing really happen on Bitcoin. Right now market moving sideways between 48000 and 45000. TL1 “protect” from rising Price and TL2 from falling price. As you can see 48000 its very strong resistance, price try many times break through but fail. Watch this level this is very important, first candle break trough and close above that level will be signal to potentially long position. On the other hand 46500 level will be critical support. Vertical red line indicates reversal price direction. You have pay attention to this line. When you going to open position either long or short, you can change chart to the lower time frame to make more precise position. Cheers, Jim
BITSTAMP:BTCUSD
by jimmycdn
3
BITCOIN The 2D chart and RSI reveal the market bottom!As unusual as it may be to chart an asset on the 2D time-frame, on this particular occasion, it serves Bitcoin a great deal at assessing the current market situation. I will keep it short as the points this approach makes are few but clear. As the bottom we have the (2D) RSI indicator which has a Higher Lows trend-line that offers Support since the late November 2018, which is basically since the bottom of the last Bear Cycle. Since then, the RSI has made contact with that trend-line another 2 times, all of which have been respective bottoms on a yearly basis (March 2020 and May 2021). At the moment, the price is consolidating just above that 2D RSI trend-line, potentially forming the new Support base. At the same time, we see that the 2D MA200 (orange trend-line) has contained the early December 2021 correction and is still holding since. Going back to the price action, it is obvious that this MA level has been the key support band for BTC since it broke above it in May 2019. It held contact in July 2021, May - July 2020 and November 2019. Notably, the only time it broke since the 2018 Bear Cycle was during the March 2020 COVID led flash-crash but we can't really consider this a technical event as the melt-down was asset wide and global and was driven by a once in a decade event (global pandemic). As long as both the 2D RSI Higher Lows trend-line and the 2D MA200 hold, we have a strong case of a market bottom. What do you think? Feel free to share your work and let me know in the comments section! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSDLong
by TradingShot
30
BTCUSD -where do you go?Hello Traders, The situation on the market is clear. Price is moving between 51500 and 47530. Momentum is in the sell zone but is very weak. I will not recommended to sell yet. Keep in mind that situation could be temporary and change any time. Candlestick indicate that we have temporary support on 47530 level (not a zone) and it’s mark on close/open price - grey rectangle). Red vertical line indicate future price change direction. This one of my fevered techniques. When the price reach vertical line price should change direction - if it’s low then will go high, if it’s high then should drop. If the price start getting higher then we have resistance on 49211. Remember that Dojo is always support/resistance level. Cheers, Jim
BITFINEX:BTCUSD
by jimmycdn
5
BTCUSD :: Rebound Possible Ahead of Options ExpiryBTC/USD Technical Analysis The four-hour chart shows that the BTC/USD pair has been under pressure lately. The pair is trading at 47,615, which is lower than the chin of the double-top pattern at 49,418. It has also moved slightly below the 25-day and 50-day moving averages and is a few points above the key support at 46,000. It is also a few points below the 23.6% Fibonacci retracement level. Therefore, while the overall trend is bearish, there is a likelihood that the pair will rebound in the coming days after the options expiration. If this happens, the next key resistance to watch will be at 50,000. Bullish View Buy the BTC/USD pair and add a take-profit at 50,000. Add a stop-loss at 46,000. Timeline: 2 days. Bearish View Sell the BTC/USD and add a take-profit at 46,000. Add a stop-loss at 48,000. The BTC/USD pair remained under pressure on Thursday morning as demand for Bitcoin remained sluggish. The pair is trading at 47,615, which is about 10% below its highest level this week. Options Expiry It is unclear why Bitcoin has struggled in the past few days considering that American equities have been relatively strong in the past few days. The S&P 500 is trading at a record high while the Dow Jones is a few points below its all-time high. A possible reason is that investors are selling Bitcoin ahead of the options expiry that will happen on Friday. A total of 129,800 options contracts worth about $6 billion will expire. In most cases, Bitcoin tends to see some weakness ahead of expiration. This trend happens because of spot traders who try to push the spot price closer to the strike price. At this point, the highest number of open options usually expire worthlessly, which leads to max pain for options buyers. This point will be $48,000, which is slightly above the current level. Another possible reason for the current price action of the BTC/USD pair is that the low volume in the financial market is leading to substantial volatility. We have already seen some volatility in other markets, including the bond market. In addition, the BTC/USD pair is likely falling because of the Federal Reserve. The Fed has hinted that it will start to unwind its easy-money policies in the coming months. It will end its quantitative easing program in March and then implement three rate hikes in 2022. In most cases, risky assets like Bitcoin tend to underperform when the Fed has embraced a hawkish tone.
BINANCEUS:BTCUSD
by SmoothJB
BTC/USD Analysis: Bullish SequenceI wrote last Monday that the technical picture here had become more bearish, with the price dominated by a descending bearish trend line suppressing the price for more than one week. I foresaw lower prices as likely. However, I did think that the support level at $46,381 was likely to produce a firm bullish bounce if reached. I was correct to be bearish insofar as the price traded lower over most of the day, well into the New York session, before bouncing close to the support level at $46,381 and then rising ever since. I was on the right track as seeing that level as likely to be strong, although my call was not actionable for a long trade. The technical picture is considerably more bullish, as we have seen a succession of higher lows and higher highs over recent days. The technical feature which really stands out in the price chart below is the support level at $49,576 which looks very likely to hold if reached again, especially as it is confluent with the very major psychological round number at $50k. The problem bulls are facing is that although risk sentiment is quite good in the market right now, Bitcoin seems to be running out of steam in recent days as it gets close to the resistance level at $51,912. I do not want to take a short trade there as the dominant structure remains bullish. I am persuaded by the bullish case although I am not strongly bullish. I will take a long trade from any bullish bounce at either of the nearby support levels at $50,153 or $49,576 especially. Long Trade Ideas Long entry after a bullish price action reversal on the H1 timeframe following the next touch of $50,153, $49,576, or $48,111. Put the stop loss $100 below the local swing low. Move the stop loss to break even once the trade is $100 in profit by price. Remove 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to ride. Short Trade Ideas Short entry after a bearish price action reversal on the H1 timeframe following the next touch of $51,912 or $53,201 or $53,853. Put the stop loss $100 above the local swing high. Move the stop loss to break even once the trade is $100 in profit by price. Remove 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to ride.
BITSTAMP:BTCUSDLong
by SmoothJB
1