Bitcoin RSI has dipped below 30.Bitcoin Technical Analysis Update
In the past, when Bitcoin's daily chart RSI drops below the 30 level on the daily chart, we often see an upward move in Bitcoin's price from that level. It is considered a bottom for Bitcoin in that trend.
Currently, Bitcoin's daily chart RSI has dipped below the 30 level. This could be considered a bottom for Bitcoin, and we can expect an upward move from the current level.
Regards
Hexa
Btcusdtlong
Bitcoin Analysis==>>Cup & Handle PatternBitcoin is moving near the upper line of the Falling Wedge Pattern .
In terms of Classic Technical Analysis , it seems that Bitcoin has succeeded in forming a Cup & Handle Pattern . ( continued pattern )
After breaking the neckline, I expect Bitcoin to rise to at least the target I've specified on the chart.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze (BTCUSDT), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
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Btc price movement from this current positionBasically target reached! BINANCE:BTCUSDT.P
For BTC we touched 64565 (2$ lower 16 May 2024)
tested D FVG. Binance BTC Perp. ( i dont like we just a test but didnt fill it)
Like always 2 scenarios...both are up (for BTC no an neceserelly alts will follow)
Eyes on data after tomorrow
For me better of course test 0.5 fvg! But we can leave this zone for the next test later.
Many alts in zones of interest! So you can buy ONLY if you waited this targets and have a plan to buy this alts! Don't need to buy only because its red market!
If BTC decide to form global right shoulder what showed in video (Gala video) its can be even under 61k so work with own risk management!
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#Bitcoin update! 📊 #BTC Descending Broadening Wedge on the Daily Timeframe Chart is Still in Play! 🚀
Bitcoin bulls need to clear the $71.3k Resistance to confirm the breakout. 📈💪
Once the wedge breakout happens, we can expect some good bounce.
In the 4D time frame chart, we are getting extremely close to a massive, volatile move soon!
Stay tuned
BTC Could take a pullback (5000 pts downside)BTC level of 69000 round level could be crucial
there we have two condition on both sides
but the down the side has more space to move and get more liquidity (4000-5000)
whereas the upside has only 2000 pts space
the favourable sides happens to be pullback and trade on reversal
because once the price crossed above 69000 then soon after there will be resistance of trend line
64,600 and 64,120 is a fvg from daily chart incase we see higher high, higher low on this area will be look for longs
Elliott Wave Analysis on Bitcoin (BTCUSD)Elliott Wave Analysis on Bitcoin (BTCUSD)
Wave (I) and Wave (II) on Weekly Time Frame
Starting from the beginning of the Bitcoin chart, the first significant move up in price has been labeled as Supercycle wave (I). This wave represented the initial major bull run in Bitcoin's history, culminating in a peak, followed by a corrective phase, labeled as Supercycle wave (II). This corrective wave ended at the low observed in November 2022.
- Supercycle Wave (I): This wave exhibited impulsive characteristics with five clear subdivisions (waves 1, 2, 3, 4, and 5).
- Supercycle Wave (II): This was a corrective wave, taking the form of an ABC correction, and concluded in November 2022.
Wave (III) on Weekly Time Frame
Since the low of November 2022, Bitcoin has been unfolding Supercycle wave (III). This wave is expected to be a major bullish phase, often characterized by strong upward momentum and significant price increases. Wave (III) typically shows the following characteristics:
- Strength and Momentum: Wave (III) is usually the longest and most powerful wave in a five-wave cycle.
- High Volume: Accompanied by increased trading volume, indicating strong market interest.
- Impulsive Nature: This wave should subdivide into five smaller waves on a lower time frame, confirming its impulsive nature.
Subdivisions of Wave (III) on Daily Time Frame
Within the context of Wave (III) on the weekly time frame, we are currently analyzing the subdivisions on the daily time frame. The current structure suggests the following:
- Wave ((1)) of Wave (III): This wave is unfolding and subdividing into five smaller waves.
- Wave (1), (2), and (3) of ((1)): These waves have been completed.
- Wave (4) of ((1)): Recently completed around April 2024.
- Wave (5) of ((1)): Expected to breach the all-time high to confirm the start.
Current Status and Invalidation
- Current Status: Bitcoin is potentially in Wave (5) of ((1)) of Wave (III), which needs to breach the all-time high for confirmation.
- Invalidation Point: If the low of April 2024 (where Wave (4) finished) is breached, this would invalidate the current count. It would suggest that Wave (4) is still unfolding, possibly as a double correction.
Characteristics and Structure of Wave (III)
1. Wave ((1)): Typically the smallest wave but should be identifiable as a five-wave move.
2. Wave ((2)): A corrective wave, usually retracing between 50% to 61.8% of Wave ((1)).
3. Wave ((3)): Often the largest and most powerful wave, usually extends to 161.8% of Wave ((1)).
4. Wave ((4)): Another corrective wave, typically shallow, often retracing 23.6% to 38.2% of Wave ((3)).
5. Wave ((5)): Completes the impulse sequence, may extend or truncate but should be a five-wave move.
Conclusion
The Elliott Wave analysis on Bitcoin (BTCUSD) indicates a bullish market ahead, driven by the development of Supercycle wave (III). This analysis is based on the assumption that the low of April 2024 will hold, confirming the end of Wave (4) of ((1)) and the start of Wave (5) of ((1)). If this low is breached, the market might still be in Wave (4), unfolding as a double correction.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Trading Signal For BTCUSDT Bitcoin Trading Setup:
There is a Trading Signal to Buy in BTCUSDT Bitcoin
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 67360.0
⭕️SL @ 65800.0
🔵TP1 @ 68900.0
🔵TP2 @ 70590.0
🔵TP3 @ 72990.0
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
Risk Warning
Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results.
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BTCUSDT: Heading towards $82,000Dear Traders,
Price is currently making correction in daily timeframe, in our view price can drop to 62k to 63k region where we can see strong bullish pressure coming in the market. However, it is also notable that price can just reverse from the current price area that it is trading at, as price already have been dumped once to 54k and there is no strong reason that it would drop to 63k region.
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BTCUSDT at daily support, likely to bounce to at least 70.5kHere is a new trade idea. The price pushed up after bouncing from weekly support and headed towards daily resistance DR1. The price however got stopped at DR1 and got pushed down immediately from there. On this drop it hit the daily support DS1 from where a bounce was likely. We already see that bounce going on. Therefore, a long from this daily support zone is favorable as the price is likely to head towards daily resistance DR1 again. Since the price has already bounced from the support, I have a small position size at the moment and I would add to my long when the price revisits this support zone again. The price has a probability to go beyond that daily resistance DR1 and aim towards weekly resistance WR1. But lets focus first on the first part.
ICT Long setup BTCUSDT👋Hello Traders,
Our 🖥️ AI system detected that there is an H1 or higher timeframe ICT Long setup in BTCUSDT for Swing trade.
Please refer to the details Stop loss, FVG(Buy Zone),open for take profit.
For more ideas, you are welcome to visit our profile in tradingview.
Since an important news about USD is coming, so small lot then small risk!
Have a good day!
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BTCUSDT Waiting For The Breakout!BTCUSDt technical analysis updated
BTC price has been rejected multiple times from its resistance line. If the price breaks above the resistance line, we can expect a significant bullish move in Bitcoin.
We could see a bullish breakout in the next few days.
Reagrds
Hexa
Is it time for a Bitcoin rally?
BTCUSD :
Bitcoin is out of our flag channel but should hold above 67000.
The movement we expect from Bitcoin is to move up to the specified targets.
But we have two scenarios in mind.
1. Shorts position scenario:
If it loses the support range of 67,000, it will move to the price of 65,000
And you can wait for the price to return to 67000 for a sell position down to 63000.
2. Long position scenario:
Consider the flag is completed.
And open your position at this point for buying with a stop loss of 59800
Or to be more sure of the start of the upward trend, we should set our buy stop position at the limit of 72500 and 74000.
For the specified targets:
84
100
110
#Bitcoin Weekly Technical Analysis by Cryptorphic, Target $155k!Overview:
This analysis looks at the historical and projected price movements of Bitcoin (BTC/USD) on a weekly chart.
Historical Price Movements:
1. First Major Rally (2016-2017):
- Growth: 4,499.77%
- Price Increase: From ~$430 to $19,439
- Duration: 86 bars (602 days)
2. Second Major Rally (2020-2021):
- Growth: 1681.18%
- Price Increase: From ~$3924 to $69,889
- Duration: 95 bars (665 days)
Current Trends:
- Current Price: $70,004.70
- Support Levels: $44,532,$52086, $60200, $68300 (Immediate support)
- Resistance Levels: $73,000.00 (immediate), $138,000-$155,000 (projected)
Moving Averages:
- Purple Line: 20-week moving average
- Pink Line: 50-week moving average
Future Projections:
- Potential Target: $138,000-$155,000
- Critical Date: April 2, 2024
- Trend Analysis: Watch for a breakout above $75,000.
Conclusion:
Bitcoin shows strong bullish trends. A breakout above $73,000 could signal another major rally. Monitor the 20-week and 50-week moving averages for trend confirmation.
Simple maths, Fractals and all the data from indicators suggest Bitcoin is poised to hit $100k+ by EOY.
SO AVOID THE NOISE, LOOK AT THE BIGGER PICTURE!
Disclaimer:
This is for informational purposes only and not financial advice. Conduct your own research before investing.
Please hit the like button if you like it and share your views in the comment section.
Thank you
#PEACE
Bitcoin (BTC) market overview | 10.06BTC’s daily chart portrays a significant rise from $60,176 on May 10 to the $71,958 high, followed by a correction and sideways movement. This pattern suggests a phase of price discovery and consolidation. Volume spikes accompany major price moves, with decreased volume during consolidation. Key support and resistance levels are $60,176 and $71,958, respectively.
Oscillators provide a mixed picture, with the relative strength index (RSI) indicating neutral conditions. The commodity channel index (CCI) at 39 and the average directional index (ADX) at 24 also suggest neutrality. However, the momentum indicator at 1941 signals bullish sentiment, while the moving average convergence divergence (MACD) level at 1007 indicates bearish sentiment.
Moving averages (MAs) show varied signals, but longer-term EMAs generally suggest reinforced bullish sentiment for the long-term outlook.
Given the mixed but generally positive signals from the longer-term moving averages and the momentum indicator, the overall outlook appears bullish. If bitcoin can break through the key resistance levels with strong volume, it could see significant upward movement.
WHITEBIT:BTCUSDT
$BTC TOWARD $80,000 ?👨🏻💻 CRYPTOCAP:BTC UPDATE
#BTC is trying to break its major resistance area of $72,000 to $73,000.
It has been rejected multiple times from this area, and if it happens again, we could see the price drop back to its important support level of $68,000.
However, ETF volume is increasing, which might help Bitcoin break through this resistance.
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Follow #CryptoEase and Share it With Your Crypto Mate 😉
BITSTAMP:BTCUSD
BITCOIN UPDATE ! NEXT STOP $80,000 ?REVIEW BITCOIN
After a life-long accumulation #BTC FINALLY looks ready for expansion! We got everything we desired: solid breakout of a bullish flag, multiple retests, and another breakout of a small wedge 🤯
The target is price discovery. Great time to hold #BTC IMO!
#CRYPTOEASE
BINANCE:BTCUSD
Wave 4 of Bitcoin: Structure of a FlatHello dear friends, I hope you are doing well.
It took a long time to identify the structure of this prolonged sideways movement. I watched many videos and referred to my notes, and this has been very helpful.
The current wave structure in which Bitcoin is moving sideways is a flat pattern. This structure typically occurs in Wave 4 of Elliott Waves.
What is a Flat?
A flat is a corrective wave pattern in Elliott Wave theory that consists of three phases labeled as ABC:
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- Wave A consists of 3 waves.
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- Wave B consists of 3 waves.
------------
- Wave C consists of 5 waves.
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In general, the movement pattern of this structure is 3-3-5.
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After the pattern is complete, a breakout to the upside usually occurs (since Bitcoin was in an uptrend before this).
Sometimes this pattern can combine in a double or triple formation, which we will review below:
Double Flats:
Double flats can be divided into three categories:
1. Flat + Flat
2. Flat + Zigzag
3. Flat + Triangle
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To connect them, an X wave is needed, which also has a 3-wave structure.
--------------
Conclusion:
If the top of this flat is broken, Wave 5 movement will begin. If the top is not broken and the correction continues, it means this upward movement was Wave X, and we should expect a larger flat, zigzag, or triangle pattern.
Once the structure is identified, the chart will be updated.
BTCUSDT #49 ( ready to start upward move ) Hello dear traders.
Good days.
First of all thanks for your comments and support .
BTCUSDT on monthly Gann Square could not able to broken Gann Square price level and with get support from the lower Gann Square Fan line and pass Bearish Gann Square phase it is ready to broken upward and move to the upper Gann Fan line and Gann Square Arc resistance.
Small sharp decline up to the 67k can we consider and then upward move .
Good luck and safe trades.