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The Wonderful Patterns of BitcoinBitcoin is oversold and sellers are EXHAUSTED. Bitcoin is showing a swing high, swing low pattern that is similar to beginning of 2021 and mid-2021. This makes it so hard to be bearish... Bitcoin's technical indicators, on-chain analytics, historical data, and short-term fundamental outlook is becoming increasingly bullish by the day. WHAT HAS HAPPENED OVER THE PAST YEAR? - Bitcoin rallied ( swung high ) to $40K Q121 - When that happened, the market was in intense euphoria and extreme greed - Then, it fell to $30K (causing fear)... ...Shortly thereafter, Bitcoin soared to new ATHs- $64K! - More recently, Bitcoin rallied ( swung high ) to ~$52K in Q3 of 2021 - Once more, causing extreme greed at the high of the swing - Now, it has fallen to $40K (causing fear) - Bitcoin has retraced to $40K ( prices not seen since last year! ) and market sentiment is overall bearish and there is extreme fear and panic So, will history repeat itself? Will Bitcoin soar to new ATHs? The pattern we are looking at it is very similar... IMO, We could see Bitcoin grind down to $40K, and then rally to T-1 ($58K) and swing low again to $40-44K region before rallying to new ATHs ($90K price target). T-2 ($69K) would reclaim prior ATHs and if it flips to support, Bitcoin will rocket towards $100K. If it does that... - The BROADER MARKET SUPPORT is a key TL that will need to hold if bulls want to see new ATHs - Falling below The Broader Market Support will break the bullish market structure and cause a bear market - RSI signaled bearish divergence in the beginning of 2021 and Q421... something to watch* - RSI was choppy during the slow grind down to ~$30K in summer - MACD will show a bearish cross into a final rally and then it will be met with resistance at ATHs and sell off into the bear market *if RSI forms bearish divergence, it would be smart to start to unload profits... Bitcoin is going to shock the world by recovering to an unprecedented rally to new ATHs. The patient will be rewarded. HODL! Good Luck, - Mr. Bitcoin Baron
BITFINEX:BTCUSDLong
by TheJonesPortfolio-100T
Bitcoin Trend Directions - Aug. 25th, 2021Bitcoin neared the highs of my previous zoning so I decided to take another look at possible entries for both longs and shorts. The picture should be fairly self-explanatory; the white zone is where we currently rest and we wouldn't enter here because we want to try to catch momentum, the red zone is where we can start to place sell orders, and the green zone is where we can look for placing buy orders. The blue zone is something new I added, because I'm personally looking for longs on bitcoin at the moment, I wanted to extend the zoning into other potential target areas to add to profits. I use multi-timeframe analysis so my high timeframe bullish support price is actually as low as $42,300. If a trader chooses to trade on a lower timeframe then I would personally look to only follow the direction of the current zone that price rests in, this will help attempt to keep the trend on your side and can better assist with catching momentum. Analysis referenced the daily and 4h timeframes. Keep in mind that none of this is financial advice, I do not claim to be any sort of financial/trading advisor, expert, mentor, etc. I only post my personal analysis for entertainment purposes. My previous bitcoin zoning can be seen here: and the results can be seen here (with slight adjustments to the zones for better entries on potential retests):
BITSTAMP:BTCUSDLong
by TonyAiello
2
Bitcoin: Absolute BottomLike this idea my friend! I expect Bitcoin to find absolute bottom here and I will explain why. 1) We've been dumping straight line from 60k for 13 days in a row with zero pullbacks. 2) Deleveraging liquidation event has already happened wiping out almost 800 million in one day at Binance. 3) Bitcoin dumped 30% in a day which is extremely rare. After it it dumped 15% and 14% again in a day, which is too much, because usually each 10% move at Bitcoin is being paid by moving in another direction for a week. 3) Altcoins dumped almost 50% in a day, btc dominance bounced 16% which is veeery big, usually after such a big and sudden move after no liquidity to dump the market and fuel left, recovery starts. There's a possibility of 30k breakdown with a huuge stop hunt and big liquidations but this event will be priced in because we've been dumping straight line from 60k for 13 days in a row, that's why it should recover extremely fast creating a huge scam wick. This will be the last nail in the coffin. Don't use leverage in such a volatile market cause it moves 5% in a minute now, manage your risk! Feel free to check my previous idea, where I predicted a dump from 60k to 30k:
Long
by hello_hello
2
Buy Bitcoin; Just Not Right Now! Let The Bears Eat.Based on Elliott Wave analysis and what's determined to be the most likely outcome for Wave 4, I suspect that we're currently in the 1st of 3 phases for the total completion of the Wave 4 correction. Typically, a primary Wave 4 will retrace down towards the zone of the previous sub-wave 4 (aka Wave 4 of primary Wave 3). In Bitcoin's case, Wave 4 of Primary 3 is near or slightly under $40K. With Primary Wave 2 being a sharp correction, Wave 4 will be what's called a 'sideways' type of move. As in, the correction takes plenty of time and does not make sudden, descending moves; not at all once anyway. A flat correction consists of a 3-3-5 wave sequence. We're likely in the first 3 wave sequence with (A) being a running flat. Should B wave not break the highest point of Wave A, we can fully expect more correction down to the C Wave target range, near or directly below $40K. Stay woke :)
BITFINEX:BTCUSDShort
by DigitalSurfTrading
7
Bitcoin will falling Wedge?Can we predict what will be happening? The objective of this analysis is to look into the possibilities for bitcoin in a very tight frame and it can be valid as a complementary analysis and study. Tap like if it was helpful and if you enjoy the analysis. Thanks for that. I'm realizing that bitcoin has made a distribution and the correction movement may not be as low as it is spoken away. In the graphics times of 2h and 4h we can clearly see a pennant. But the expected price retraction is close to 27k. So this zoom in I'm now showing is that it may be falling down making a falling wedge. For the price to continue to rise from now on and break this down channel that was formed this week, it is needed to break and confirmed above this POC. This is the decisive point for the next moves that will follow. If it doesn't overcome the POC it gives us the possibility of a short with good targets below. I believe we will not have a trend reversal yet. For now I'm still positive about the longs, but we shouldn't miss a good and clear opportunity for a short. The paths I expect are these two lines plotted in green and the other in yellow.
by livemzavhenrique
Litecoin A formation of long trend?We can see a long trend beginning to form with lite coin. Whilst many speculate over potential sell off/market dump soon to happen to the main stream alt coins, we believe the new drawn attention could see some of the major players take on a bull run. In the event of an extended breakout and the trend continuation, Litecoin could test resistance at $170. The second major resistance level sits at $165.11. Failure to avoid a fall through the $148.38 pivot level and the 23.6% FIB would bring the first major support level at $141.77 into play. Barring another extended sell-off, Litecoin should steer clear of the second major support level at $131.65.
BITFINEX:LTCUSDLong
by Orion-Markets