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Navigating BTCUSD Intraday: A Downward Elliott Wave Pattern UnfoAs the cryptocurrency market continues to captivate traders and investors alike, BTCUSD has been a focal point of attention, especially in the realm of intraday trading. In recent sessions, an intriguing Elliott Wave pattern has emerged, signaling potential downward movement in the short term. Understanding Elliott Wave Theory Elliott Wave Theory, pioneered by Ralph Nelson Elliott in the 1930s, is a method used by traders to analyze price movements in financial markets. It suggests that market trends unfold in recognizable patterns, comprised of impulsive waves (trending moves) and corrective waves (counter-trend moves). The Downward Elliott Wave Pattern In the context of BTCUSD intraday trading, we are currently observing a downward Elliott Wave pattern taking shape. This pattern typically consists of five waves, three of which are downward (labeled 1, 3, and 5), and two of which are upward corrective waves (labeled 2 and 4).
BITSTAMP:BTCUSDShort
by simpleincomeai
Gap closed on Bitcoin futures.With a candle that can be seen as a hammer, the price closed the gap by taking buy orders that were in the majority compared to sells, the candle is evident. In the related analysis I had written that it would be a very useful level, given that gaps often work well as supports or resistances, in this case it has become a very useful support, a perforation of the minimum of this candle would be a sign of weakness, but let's see better the context in which we find ourselves. At this moment the price of btc is correcting in the medium term (2/3 months), therefore faced with a movement of approximately 88 days, a correction could occur (which has drawn a new high) linked to this cycle, of course if if the scenario changes, the session count would also change. So far the price is moving higher and there is no reason to think otherwise, so my bullish hypothesis or scenario continues to be useful in understanding where we are now. Possible even very violent increases could appear before long, we are at the end of this correction which has not yet given the final blow, the classic strong decline, unless it was this weekly candle which we can call hammer, the last decline of the correction. Now we need caution and above all trust in the trend.
CME:BTC1!
by Melupira89
BTC Market Cycle | Repetitive and Predictable Market CycleThe Bitcoin market cycle can be easily predicted by studying historical data. Whenever you seek an idea of where the market is heading, you can always look at the past to gauge the future. However, this doesn't guarantee that the predictions stated here will unfold exactly as described; it's a PREDICTION, not a fact. Let's examine the chart displayed here. The market cycle repeats itself every four years, with our chart divided into four cycles, the fourth being the current cycle we are in. Every four years, Bitcoin undergoes a major event known as Halving, where the number of blocks containing Bitcoins is halved every four years. We started with 50 Bitcoins released in a block every 10 minutes; in 2012, that amount was reduced to 25 BTC. In the following cycle, it was halved again, and this will continue to happen every four years until all Bitcoins are mined. Currently, we are heading towards the fourth halving event, which will see the number of blocks released reduced to 3.125 BTC. Due to this event, the price of Bitcoin appreciates in value every four years. This is driven by supply and demand, as fewer Bitcoins are mined than in the previous four years (reduced supply), creating scarcity and increasing demand. The mining difficulty also increases, causing miners to be reluctant to sell the Bitcoins they've mined, contributing to the price increase. On our chart, we have three completed cycles that look almost identical. The cycles consist of a bull market where the price experiences a significant increase, followed by a bear market where the price drops in the range of 80–85%. This is followed by the first expansion, where we see a slight price increase, followed by the first accumulation phase. Prices move up and down within a specified range during this phase, also known as the consolidation phase. We then move on to the second expansion and the second accumulation, usually forming just before or within the halving period. This not only shows us that the market cycles are similar but also allows us to predict future events. At the time of writing this, we are three months away from the fourth halving, and it appears we have entered the second accumulation phase, as seen in the past three cycles. Prices should trade in a specified range for a few months after the halving. When you examine the halving events on the chart, you can observe that we usually enter the bull run somewhere between 6 to 8 months after the halving. Based on that, we can predict that the next bull run will start between October and December 2024, lasting until the fourth quarter of 2025. In the past, the cycles have been accurate, and we can expect the same unless a global catastrophic event occurs, as seen in March 2020 during the COVID-19 pandemic. In that phase, there was no second expansion as all markets crashed. It is my opinion that this led to the bull run not reaching its full potential. Had we experienced the second expansion, the price would have moved slightly higher before the second accumulation phase, leading to an extended bull run pushing the price near or above $100k. My price prediction at the end of the cycle, assuming world events stay normal, is to see Bitcoin in the range of $120–150K. What do you think the price of Bitcoin at the end of 2025 will be? Like, share, and feel free to leave a comment. Let me know if you agree or disagree with this analysis.
Editors' picks
BNC:BLXLong
by TeeBusa
67
BTC - ETH - XRP (GROWTH POTENTIAL) - JAN 2024 BTC - ETH - XRP (GROWTH POTENTIAL) - JAN 2024 It seems that today, the decision regarding the BTC ETF will likely be revealed. Regardless of the outcome, I think it might be advisable to consider transitioning from BTC, especially after it reached FWB:48K , to alternative coins such as ETH or XRP. Various other alternative cryptocurrencies also exhibit promising potential. To sum up, it might be prudent to refrain from buying Bitcoin for the time being, starting from January 2024, and explore other options within the cryptocurrency market.
Long
by Ehsan_1307
BTCUSD - New Rally has BeganAs discussed back in 2021, we were watching a correction in BTCUSD taking place after a 5-impulse wave move (marked on the chart) starting wave 1 of the initial bull market rally. The next phase was a three correction, as marked ABC on the chart. We had measured a possible level of the correct to reach around 17257 from the confluence Fibonacci retracement level. Please see my previous post from September 2021. The 3-3- 5 wave move into this level is now complete. This level has now been reached, and we see a bullish divergence in both the composite index and RSI indicators. The quick move of the RSI from below 40 to 70 is a strong indication that a change in direction is about to begin. The RSI is holding above 40, being the base in a bull market, while the price is forming a bullish wedge after completing a small 5-wave move within the wedge. A break and hold above the top of the wedge will see a fast and aggressive move high as we move into wave 3 of 5 which is always the largest wave. Hang on to your hats, as the initial rally in BTCUSD will be insignificant to the rally that has already begun. Forget the moon, aim for Pluto and beyond.
COINBASE:BTCUSDLong
by TRADER-RI
1
AW Bitcoin Analysis - Thoughts On The Latest Price Action...In this video I highlight some interesting new reports that have been pushed into the TradingView platform in the last few hours. The news on TradingView is about as useful as the indicators and oscillators. I also discuss how the upside price target can change based on where Wave E ends which hasn't started yet. Here we are seeing a classic fake out move. I remember when I used to think trend-line breaks were a good idea but quickly learn that it only works temporarily. Of course in my own opinion it' s Wave D. Soon we will know and then I can begin trying to analyze Wave E. Remember to use Disciplined Money Management Principles to ensure longevity as a trader. If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd? Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research. ***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
by AriasWave
BITCOIN parallel channel and more range 📖💡Hello 🐋 we expected the retest of the support zone to be completed ✔️ if the price doesn't break the support zone to the downside and just complete the retest, we will see more gain, at least to our upper trend line 💣🚀 otherwise we can see more correction to lower support level ❌🧨 if breakout of the upper resistance zone be completed, we can see more pump to the upside ✔️🚀 👌 Notice: pay attention to the price on shortcut chart (located below the main chart with black colour) 📖💡 Please, feel free to share your point of view, write it in the comments below, thanks 🐋
Long
by MadWhale
5
#BITCOIN Halvings, length of tops and bottoms. $100K TOP?Due to the economic mass and increased liquidity are we about to see the most disappointing #BTC bull run Each Bull run has a remarkably similar ratio of diminishing returns. Suggesting a high of around $90k, Based on a Low $13k being achieved in the following few weeks! If indeed the June low was to hold it still only improves the amplitude of the next high by around $20k. As the foundation for the crypto market, if the high is met with a BTC.d of 20% That signals a 10 Trillion market cap so picking Good products and platforms could still be a monumental place for price appreciation. #ALTS #ALTCOINS #HEX #NEAR #SOL #EGLD #MKR #AAVE #PULSECHAIN #ETH
BITSTAMP:BTCUSDLong
by BallaJi
5
MOMENTUM DYING ON BTCUSD BUT MORE UPSIDE TO COMELooking at BTCUSD here we see momentum dying out on this grind up as noted by the divergence in both MACD and RSI on the 4hr. I personally don’t think this move is over, as we didn’t see a retest of the May breakdown at 25374, and have yet to see climatic volume and price action that would normally indicate the last hurrah. Also looking on the Daily (see below), the RSI has yet to enter overbought territory, a further clue that perhaps we still have higher to climb. I am looking for a possible pullback to the resistance wall from 20800 - 22500 region, which would be a fib retrace from 0.382 - 0.618, before having another run for the top.
INDEX:BTCUSDLong
by illuminiF0x
BTCUSDTBitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009. Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.” Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.
BITSTAMP:BTCUSDShort
by DrGhanizadeh
4
Bitcoin Bull flag breaks down.First bull flag played out well. But this time, many bull will be trapped like bear did. They gained a bit from the first bull flag broke out. Now they will be more confident to long the market. As I have been observing second bull flag tends to break down. In another scenario, people are still in Fear, Bear is still in disbelief and wants to revenge trade. They show all resistances above and shorts on resistances. They will get rekt again like Bull did when they try to long at support, Bitcoin continues to dump through support. NFA
by Hai10Year
2
#BTCUSD it's possible to sell#BTCUSD Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it: Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 34648 Next Zone area & horizontal swing Low support 1st Resistance 45099 Zone area & horizontal swing high resistance
BITSTAMP:BTCUSDShort
by Skandhatrade
BTC/USDT 1 HOUR UPDATE Welcome to this quick update, everyone. If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way. I also post altcoin setups on Spot, Margin, and Futures. I have tried my best to bring the best possible outcome in this chart. As I mentioned in my previous BTC chart that BTC will bounce from the $36500 support level and it bounced. now, we are having $38000 and this blue line as resistance. The first scenario- If BTC break and close outside this upper resistance of this bullish expanding Triangle then we can accept A bounce up to 40k. The second scenario- If BTC got rejected from the upper resistance level of this expanding Triangle then we can accept a drop up to $35500. Let's wait and see how the market reacts in a few hours. What's your thought on this? Do hit the like button if you like this update and share your views in the comment section. Thank you #PEACE
by CRYPTOMOJO_TA
8