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BITCOIN Hit 60k! Is the bleeding finally over?Bitcoin (BTCUSD) followed the medium-term June bearish forecast and as we projected on the following 2 analyses (see charts below), made the expected correction on the Support Zone around 60k: Now the market has entered into a medium-term buy opportunity again and once we get confirmation from the 1D MA200 (orange trend-line), it will be a long-term one too. The May 01 Low and ultimate Support level is at 56550. As you can see the 4H MA50 (red trend-line) has been resisting throughout the majority of the Channel Down/ corrective wave but the Resistance and true bullish confirmation was last time given (May 15) when the price broke above the 1D MA50 (blue trend-line). As the top chart above shows, last year's accumulation phase (green) took another 2 months (August 17 - October 16 2023) to rise after the price broke below the 4D MA50, so we may see real movements at the end of the Summer when the price hits the bottom (Higher Lows trend-line) of the Bull Cycle's Channel Up. In any event, BTC is on levels that long-term investors start consider buying again. Our standard medium-term Target is $72000. Note also that the 1D RSI is massively oversold at 25.50, last time it was this low was 10 months ago (on August 26 2023). But what do you think about this price action? Is Bitcoin a solid buy now that it hit 60k again? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
4
BITCOIN Is it just a giant Cup and Handle that we couldn't see??Bitcoin (BTCUSD) on the 1W time-frame resembles a giant Cup and Handle (C&H) pattern started from the top of the previous Bull Cycle. Even though this is a valid technical pattern, it may have gone ignored by some as traders tend to focus either on shorter term price action or cyclical structures that are often repeated from Cycle to Cycle. It is undeniable though that the C&H principles are applied on this chart almost to the last little detail and the pattern is now in the process of completing its Handle, in the form of a Channel Down. How low can it go before completed, largely depends (in our opinion) on which of the following MA periods will hold: the 1D MA200 (red trend-line) or the 1W MA50 (blue trend-line)? The 1D MA200 provided the earliest Support of the current Bull Cycle on the week of March 06 2023, in fact it was an excellent 'touch-and-rebound' wick. The 1W MA50 has been supporting since the March 13 2023 break-out and came closer to the price action on the week of September 11 2023. What seems even more useful/ reliable than the above, is the expected % rise after the bottom is made. As you can see, every since the November 2022 Bear Cycle bottom, Bitcoin has had 3 expansion legs, ranging from +91% to +99%. Starting from the first, each has been -4% to -5% less than the previous. As a result, assuming the 1D MA200 holds and the Handle is completed there, we can expect the next Expansion Leg to reach the $100k - $110k Target Zone. But what do you think? Which MA will hold, the 1D MA200 or 1W MA50? And what will your Target be after? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
15
ENSUSD Major rally to $70.00 starting.Ethereum Name Service (ENSUSD) is on the 2nd straight green 1W candle, which is the 5th in the last 6 following the rebound on the 1W MA50 (blue trend-line). The long-term pattern is a Cup and Handle and the latest 1W MA50 rebound is the handle completion. The symmetry is very strong so we expect a new rally to be initiated and target at least $70.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:ENSUSDLong
by TradingShot
BITCOIN Has the ride to $250k started?Bitcoin (BTCUSD) has been consolidating for the past 3 months (since the March High) but it is no stranger to such consolidation sequences. Since the start of the current Bull Cycle after the November 2022 bottom, consolidations have been the name of the game, as these served as accumulation phases in the absence of stronger corrections. BTC has in fact seen similar consolidation phases historically during all previous Bull Cycles. Using the 1M RSI (black trend-line) in particular, we can see that the current consolidation, even though it happens on the All Time High (ATH) level, it is very similar to June - August 2020 and June - August 2016. During all those sequences, the 1M RSI peaked and pulled-back aggressively, even though the price was just trading sideways. On an amazing display of symmetry, all this happened around 81 weeks (567 days) after the Bear Cycle bottom. The fact that the current consolidation is taking place on the ATH level and the two previous didn't, has to do with the fact that: a) the last Bull Cycle was less aggressive, peaking at 'only' the 0.786 Fibonacci Channel level but also because b) the current Bull Cycle is more aggressive than expected due to the launch of the Bitcoin ETF. As you can see the Fibonacci Channel Up has been very consistent since late 2013, with the 0.0 - 0.236 Fib range serving as the Buy Zone, which is where BTC continues to trade, despite the uptrend, showcasing its enormous upward potential. The December 11 2017 Top has been on Fib 1.0, the April 2021 on Fib 0.786, so even a mere Fib 0.5 (not even 0.618) contact at the end of the current rally, would push Bitcoin to $250000. Incredible as it may sound, this validates even the scenario of BTC following the less aggressive, recent Channel Up (blue) that started on Dec 2017. A $250k top would make an ideal technical Higher High. But what do you think? Is $250k as easy as this model shows for Bitcoin during this Cycle? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
2
BNBUSD $2000 is a very realistic target for Q4.The Binance Coin (BNBUSD) is has been accumulating since basically early March (March 11 candle), trading sideways within the Mayer Multiple Bands (MMB) Mean (black trend-line) and the 1st SD above (grey trend-line). The 1W MA50 (blue trend-line) has been the support since the late December 2023 bullish break-out. That should be the Support throughout the remainder of the Bull Cycle, in fact that was also the case during the previous Cycle where BNB had the final accumulation phase (blue ellipse) from September to December 2020, again within the same MMB zone, which initiated the most aggressive part of the Cycle (parabolic rally). Observe that the 1W MACD formed the same pattern almost. That rally peaked on the MM 3rd SD above (red trend-line) so a $2000 price tag, which will 'only' make contact with the 2nd SD (orange trend-line), appears to be a realistic Target, even by the start of Q4 2024. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:BNBUSDLong
by TradingShot
4
BTC at HTF range middle 📉 Bitcoin Daily 📈 Bitcoin closed week at 66653. That was above higher timeframe range middle and above developing quarter VWAP. Can't say this price action looks bullish, but at least it hasn't yet completely wiped out all the bulls. In short term perspectives there is still a chance for a bounce to May close this week. Higher timeframe picture and conditions remain the same. Acceptance below 66k will lead to BTC drop down to 63-64k and possible dips down to 59k (HTF range bottom). Last week close gives me bearish vibes - even if this week close above range middle chances to see those dips are close to "guaranteed". Nearest liquidity pools: above - 67260 / 67720 / 69195 / 70290 below - 65675 / 64885 / 64220 / 63080 Lines on the chart: 🔸72132 - May high 🔸71363 - March close 🔸69667 - week close 🔸68540 - week close (May) 🔸67577 - May close 🔸66653 - week close 🔸64025 - last April week close Trend: D ▶️ W 🔼 M 🔼 🤑 F&G: 71 < 71 < 74 < 74 < 70
by WiseAnalyze
5
BITCOIN Underlying trend-line coming into play.Bitcoin (BTCUSD) has been holding so far the 1D MA50 (blue trend-line) as Support, which was the primary objective, closing all 1D candles since Friday above it, but now an underlying trend-line is coming to center stage as it got tested also on Friday successfully. That is the Lower Highs trend-line that started on the March 13 High and rejected BTC on Lower Highs initially, before transitioning to a Lower Lows Support on May 23. If that holds, the chances of a rebound towards the Resistance Zone, are amplified greatly. Practically, as long as the 1D MA50 holds, a bullish signal will emerge when the price breaks above the 4H MA50 (red trend-line), in which case we have a target at 72000 (bottom of Resistance Zone). If on the other hand BTC closes a 1D candle below the underlying trend-line, prepare for 61000 (top of Support Zone) and potentially a long-term bottom formation on the 1D MA200 (orange trend-line). Notice that on the previous Bearish Leg (April 08 - May 01) of this 3-month consolidation structure, the price remained bearish as long as it stayed below the 1D MA50. The 4H MA50 never broke to the upside while the price was above the 1D MA50. That is why it will be a bullish signal if it breaks while BTC is above the 1D MA50. But what do you think will happen next on the short-term? Will we see 72k or 61k first? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
1
SOLUSD Not the time to buy yet.Watch the 1WRSI. Is 4k realistic?Solana (SOLUSD) has been on a correction mode since the March 2024 High, in an attempt to technically harmonize the massive rally of 2023. The 1W RSI Double Topped in the same month and this is where all the essence of the current price action is. The 1W RSI peaked on the exact same level (86.00) back on the week of August 24 2020. It didn't find a bottom before entering into bearish territory again around 41.50. That correctional Channel was more aggressive than the current, so this time we may only seek confirmation from the 1W MA50 (blue trend-line), which has been supporting ever since the late September 2023 bullish break-out. In any case, we believe that the RSI's Bull Cycle Buy Zone, will again give the most optimal buy entry, so we haven't bottomed yet. In any case, we are well within the Mayer Multiple Bands, in fact March's rejection came on its 2 SD above, at the bottom of the Red Wave. During the previous Cycle, Solana rose by 51250% from the time is started to form the current long-term Fibonacci Channel Up. If we measure the same % growth from the recent Bear Cycle bottom, then we are looking at a peak a little above $4000. Odd as it may look, keep in mind that Solana has already rose by +2500% up to March's High and if it indeed reaches 4k this Cycle, the rise will be less (+1900%) from March's High than it was from December 2022 to March 2024. Unrealistic or not, it is up to your mind and capital to judge that but it is a fact that the market is only now entering the most aggressive phase of it Bull Cycle. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:SOLUSD
by TradingShot
4
BITCOIN Failure to hold the 1D MA50 leads to $60k.Bitcoin (BTCUSD) was rejected yesterday on the 4H MA50 (blue trend-line) and that caused another pull-back that is about to test the 1D MA50 (red trend-line) once again. On Tuesday this level held and is critical to continue to do so as a breach might lead us to $60000. This is what took place on the April 08 - 19 Channel Down. It is important to note that after the bearish break-out, the price was rejected straight on the 1D MA50, which basically confirmed the continuation to 60k. We are currently on a similar Channel Down. Do you think the 1D MA50 will hold or break and push BTC to 60k? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
7
Ethereum at the edge of dump Year VWAP VAH was at 3645 (same as March close) - ETH dipped below it and yesterday went up for bearish re-test, where it got rejected. That hugely increase chances for further retracement towards breakout level around 3260-3340 at least. Year VWAP is around 3123 and act as high timeframe magnet for the price. By the time ETH gets to it, most probably it will rise higher and meet the zone I've mentioned above. ETH ETF will be approved by the end of this summer, so long term I stay bullish. The only question, is where to buy. Zone of interest for me starts under 3400 and I will monitor price action there to catch that bottom (after lower timeframe confirmation of course).
Short
by WiseAnalyze
BITCOIN Retesting the 1D MA50. Is it alarming?Bitcoin (BTCUSD) has been practically consolidating since the May 21 High and the recent pull-back of the past 5 days is starting to inflict a certain degree of fear in the market again. So far the effect is only on the short-term as yesterday, the 1D MA50 (blue trend-line) was tested (first time since May 17) and held. This is something we have seen before on February 06 2024 and October 14 2023. All 1D MA50 re-testings have taken place after the price broke below the 1D MA50 (blue arc) and formed the bottom of the Bearish Leg. The pattern can be easily classified into phases, with BTC trading within the Mayer Multiple Bands (MMB) Mean and the MMB 2SD below. A Channel Up follows after each 1D MA50 test that approaches the MMB. The only parameter that's left to confirm the start of this (blue) Channel Up that will test the MMB is the 1W RSI to break above its MA level (yellow trend-line). As you can see 100k following that, is a rather conservative technical Target within this pattern. Do you think that critical psychological level will get hit following this pattern? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
SUSHI/USDT Secondary trend. Horizontal channel 11 months = 108%Logarithm. Secondary trend. Time frame 3 days. Long-term horizontal channel (accumulation) with the step of 108%, currently 11 months long. The key “level” of the channel formation is 1.128 (last update, before the accumulation formation). There were no stop loss withdrawals under this channel at the moment. The price is currently at the lower zone of this channel. Potential reversal zone. Working in the channel. This is what it looks like on the line chart. Main trend. Time frame 1 week.
by SpartaBTC
38
OMUSD Breaking out. Catch it if you can!Mantra (OMUSD) broke today above the top of its Rectangle, which has been the pattern it consolidated in since late March. The recent low of May 30 was supported just above the 1D MA100 (green trend-line) and that initiated the current rebound. This is not very different than the March 04 break-out, which after holding its 0.5 Fibonacci retracement level, it started an aggressive rally towards the 5.0 Fibonacci extension, registering a +360% rise. This gives us our current Target at 2.800. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:OMUSDLong
by TradingShot