Bull Divergence in Bitcoin?Bitcoin has picked up, but is still bounded by $16.8K or so. We appear to be attempting to form a bull wedge pattern. The Kovach OBV has picked up notably, which could indicate a divergence, and suggest a potential breakout. The FTX news still weighs on the entire crypto market, so we are not hopeful of a significant bull rally. However a breakout could easily test $17.6K. If things turn south then $15.6K should provide support.
Hodl
BTC (3D) - Big Picture Outlook, Target Timeline & Price LevelsWarning! doing my crystal ball magic wand prediction again. :-p
last time i did a major wave count, it pointed to 2018-19 bottom at 3.5-4.5k, someone suggested i go predict the weather too lol..
well, prev prediction of $3.5-4k bottom (2018-2019) ✅ & the subsequent new ATH to $70-100k by 2022 ✅ (missed by a bit, ATH was $69k in 2021);
both targets considered achieved, as of writing. links below.
so, here's my 'doodling' for 2022-2024 , take it with a pinch of salt ;p
bottoming > consolidate > breakout channel to retest ATH, spanning a 2yr period.
This bottoming process may well be shortened/accelerated by:
1) Fed restarting the money printer: further eroding confidence on the Dollar as global reserve currency.
2) The World fast forward to CBDC implementation: further amplifying BTC's privacy, anti-censorship, decentralized qualities.
Doing the wave count, technical & macro research for my own stack of sats too. In fact, if happen as predicted, this upcoming BTC bull wave will be able to shield me & family from the financial disaster from potential Dollar collapse / authoritarian & tyranny of CBDC. Do hope it helps you in some ways too. :-)
Look forward to check back on this post 1,2yrs down the road.
Let's HODL for wealth protection~ Cheers! 🥂🥂
Bitcoin Stable After Wild RideBitcoin plummeted earlier this week off news that major exchange FTX is essentially insolvent. Binance offered to bail them out, but later pulled the deal, exacerbating the situation. Bitcoin tumbled past our level at $17.6K, deep into the $15K's before we pivoted back to $17.6K, after CPI came out softer than expected suggesting that the Fed may pivot in its hawkish rhetoric. Risk-on assets have rallied but the FTX debacle still weighs on crypto. Bitcoin is still bounded from above by $17.6K, and the Kovach OBV has barely inched up. We have had to reference levels we haven't considered in years to get the next level of support down at $15.1K.
The Next Move in Bitcoin's Wild RideBitcoin has exhibited some of the most volatile swings in the past 24 hours as it has in the entire time we've been following it. First, the FTX debacle worsened as Binance reportedly pulled out of their deal to by the insolvent company. This sent BTC to yearly lows, cracking our absolute lower bound at $17.6K. But we didn't stop there. Bitcoin continued to sell off, careening through the $16K handle, finally finding support in the $15K's. We saw levels displayed on the chart we hadn't seen in years. We finally found support just above our level at $15.1K. Just now (at 8:30 AM EST), US inflation data came out weaker than expected, suggesting that the Fed may finally be able to ease their hawkish stance. This fueled a rally in all risk-on assets, including cryptos. Bitcoin rallied, pivoting off lows, and made an attempt at $17.6K from below. We appear to be meeting prohibitive resistance here, and expect BTC to range just below this level for the time being. If we are able to break through, then $18.6K should provide resistance.
Bitcoin Slammed After FTX Meltdown!Bitcoin has melted down, as the FTX platform faces insolvency issues . Binance came to the rescue, offering to rescue non-US divisions of the company. This follows a bank run in FTX's token, FTT, after Binance sold over $1B of the token, causing a 'bank run' which impacted the entire crypto market. The whole ordeal spurred worries of liquidity and solvency issues in crypto. Major cryptocurrencies plummeted as did the stock of any major platform that sells crypto (e.g. Coinbase and Robinhood). Bitcoin was edging higher, making meager gains. It was starting to look like it was able to hold the $20K's, but after the news it plummeted down to the $18K's, which we anticipated as a floor. This was not the end of the move, as the selloff bled into the APAC session. We have now breached our (yearly) low of $17.6K, which we anticipated to hold as a floor. We are currently hovering below this level at $17.5K or so. If we can manage to pivot, watch for Bitcoin to claw itself back to $18.6K, where we may equilibrate as the markets digest the news.
Bitcoin Gives Up the $20K'sAs predicted, Bitcoin retraced significantly, giving up the $20K handle entirely. It was looking like crypto was going to make a run for higher levels in the $20K's and bulls were already celebrating the next pump. However, reality set in and Bitcoin crashed through support at $20.7K. We are currently seeing support from $19.5K and are hovering below $20K at the time of this writing. This should provide some resistance. The Kovach OBV has dropped, but appears to be leveling off. We may seem some ranging here as the markets digest the drop and Bitcoin finds footing. If not, then $19K should provide further support with $18.6K a likely floor.
Bitcoin RetracesBitcoin showed signs of strength, breaking through our target at $20.7K and making a concerted effort for the next target of $22.4K. However, we met stiff resistance around $21.4K and immediately retraced. We are seeing support at $20.7K, which once provided resistance, confirmed by green triangles on the KRI. The Kovach OBV has slumped, suggesting the bull run has receded for now. We are seeing a general (weak) bull rally, but this can easily be retraced if support breaks. If this is the case, note the vacuum zone below to $19.5K. If momentum can reignite then $22.4K is our next target.
It is happening now: The end of the bear marketThe end of the bear market: a comparison between 2nd and 3rd cycle’s bear markets and the start of the 4th cycle’s bull market
It should speak for itself. Although I would like to highlight some choices I have made. Instead of using indicators in default settings, it is better to understand how the trend develops, from the top and the bottom as the center. In the 2nd cycle this was 52 bars and in the 3rd cycle this was 76 bars (footnote here is that 3rd cycle has a double top and 1st top has been considered as the highest one because of higher RSI).
Momentum indicators are great in analyzing of trend strenghts. That is why RSI has been chosen that acts as a metric for changes in the prices as well the speed at which they change for a particular period (RSI length 52 instead of 14 because of as mentioned earlier). So far not any hint till I added Momemtum indicator and used RSI as the source instead of the closing price. When the RSI crosses up the RSI-based MA (in the Momentum indicator) the trend is strong again. This event happened with the close of the last week in the 3rd cycle. So should we buckle up?
I have added Fibonacci Retracement. As starting point has been used the moment RSI goes below 50 level.
The moment that RSI crosses up 50 level will be correction level of 4th cycle’s bull market and after that bull market will continue.
Would not it be nice if the price hits the same levels in the 4th cycle?
Left: 2nd cycle
Right: 3rd cycle
PS. If you like this idea, check my other ideas as well.
KCS - Potential Bullish Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
KCS is stuck inside a range, around support and round number 10.0
For the bulls to take over, we need a break above the gray neckline. In this case, a movement till 15.0 would be expected.
Meanwhile, if the bears manage to push below 9.0, then we will be expecting further movement downward.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
✅XRP : THE TARGET VIEWXRP is depending on the trend study into new increase, and it seems we can see coming time what more volume on the low time frame.
Here we did add our expected target for XRP coming time.
it shows depending on our expectations that there is an important level between $0,77 and $0,89 that XRP can hit coming time.
we have seen that when there is hype on the coin it can increase well in the past.
💎For now, this is our view of the target for this coin.
Do always study.
Bitcoin SlumpingBitcoin continues to edge down from our level at $20.7K. We made a concerted effort to break through to the $20K's, but a persistently hawkish Fed has dampered attempts to reach $22.4K, our next target. The price action is looking weak and the Kovach OBV remains relatively flat. Expect support at $20K, then $19.5K if things turn south.
Bitcoin Edges LowerBitcoin has declined steadily from $20.7K. We appear to be forming a descending wedge pattern at the moment, but broader scale, this could be part of a bull flag. The Kovach OBV is relatively flat, so unless more momentum can come through, we will likely range at current levels at best. There is a vacuum zone below to $20K, then $19.5K, and a retracement could easily take us back to these levels.
InvestMate|Bitcoin the rally continues...₿ Bitcoin the rally continues...
₿ Referring to my last post in which I predicted an upward movement on bitcoin
₿ Observing the flat correction that has been taking place for about 7 days now
₿ I can confidently say that I don't think we are going to go lower in the coming sessions.
₿ Given the very low levels we are at since the peak, a further breakout is highly likely
₿ Targets remain unchanged, first resistance 25k then 30k
₿ For more details I refer you to my previous post on bitcoin pinned at the top.
🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Bull Flag BitcoinBitcoin has retraced a bit from highs around our level at $20.6K. Attempts to break higher have been rejected, and many red triangles on the KRI seem to indicate that $21K is a ceiling. We do appear to be forming a bull flag pattern, which will require some momentum follow through to break out. If not, we are likely to cross the vacuum zone down to support at $19.5K or $19.0K. We expect $18.6K to hold as a floor price.