Bitcoin Analyze (Road Map, 03/13/2023)!!!🗺️Hi everyone.👋
Because Bitcoin grew by more than 😱20%😱 in the last 24 hours. I decided to update the roadmap I shared with you on Feb 26.👇
Better first, let's take a look at the fundamental reason for Bitcoin's rise:
Fundamental :
Why are Bitcoin and Crypto Prices Rising❗️❓
After the recent collapse of Silicon Valley bank and the domino effect falling upon Signature Bank due to the Federal Reserve raising interest rates, Fed gave an announcement stating decisive actions to protect the US economy.
Fed’s plan is to do this by increasing the USD liquidity and have bailed SVB out of short liquidity. Increased USD liquidity means an increase in taking risks by investors which has caused a bullish sentiment on the complete cryptocurrency market.
Bitcoin and other cryptocurrencies have rallied in response to the United States Federal Reserve's injection of liquidity into the economy.
🔓Here are the main factors that caused this reaction by the market:🔓
Fed bails out Silicon Valley Bank depositors
Speculation gathers over Fed interest rate "pivot"
BTC price jumps to $24K in blistering comeback
USDC looks to regain $1 peg
Sentiment rebounds as "short squeeze" risk rises
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Technical :
Now let's take a look at the possible 🗺️roadmap🗺️ of Bitcoin:
Bitcoin completed the main wave A with the Double Three Correction structure(WXY) so that the end of wave A played the role of a bear trap for traders.
It seems that the main wave B has a zigzag correction(ABC/5-3-5) structure due to the sharpie of microwave A (5 microwaves)from the main wave B.
I expect microwave B from the main wave B to touch the 🟢support zone($21,600-$20,940)🟢 again and the main wave B to finish in the areas I have 🎯marked🎯on the chart.
Bitcoin Analyze ( BTCUSDT ), 4-hours time frame ⏰.
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XBTUSD
Bitcoin Analyze (Road Map, 02/26/2023)!!!🗺️After breaking the important downward trend line, Bitcoin seems to have passed the main corrective wave A and is on the way to completing the main corrective wave B.
If you are curious about the structure of the main wave A, I suggest you take a look at the following post.👇
If you pay attention to the microwaves in the 12-hour time frame, you will notice that Bitcoin has passed microwave A of main wave B at $25250.
Now, it seems Bitcoin has started the microwave B of the main wave B.
The structure of microwave B of the main wave B can be a zigzag correction(ABC/5-3-5).
The end of microwave A of zigzag correction(ABC/5-3-5) can end on 🟢heavy support zone ($21660-$20330)🟢.
Since microwave 2 of microwave A of zigzag correction was a price correction, I expect microwave 4 of microwave A of zigzag correction to experience a⏰time⏰ correction.
I drew the possible 🗺️road map of Bitcoin🗺️ in my chart.
Bitcoin Analyze ( BTCUSDT ), 12-hour time frame ⏰.
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➕Positive➕ and ➖Negative➖ signs of Bitcoin🤓Hi everyone.👋
Today I want to share with you a complete analysis of Bitcoin.
When we talk about the complete analysis, then we have to deal with the fundamental analysis of Bitcoin in addition to the technical analysis.
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Fundamental ;
So let's start by reviewing the news that has affected Bitcoin and the cryptocurrency market in the last 24 hours.
I must say from the beginning that all the news in the last 24 hours has been ➖negative➖.
Don't judge too soon and stay with me until the end of this post. Thank you.🙏🌹
The ➖negative➖ news of the last 24 hours are:
Bitcoin fell below $20,000 after 2 months, and after 56 days the Fear and Greed index re-entered the Fear zone.
In the 2024 US budget, Joe Biden's government has proposed a 30% tax on the electricity used to mine Bitcoin and other cryptocurrencies.
New York's attorney general General Letitia James on Friday sued crypto exchange KuCoin for failing to register with the state before letting investors buy and sell cryptocurrencies on its platform, as part of her effort to rein in what she calls "shadowy" cryptocurrency companies
The Hedera platform suspended all its activities after confirming the hacker attack.
Blockchain.com suspends its asset management subsidiary launched in April.
Huobi’s HT Token Suddenly Falls 93%, Then Rebounds Just as Quickly.
It seems that the results of all these negative news in the last 24 hours have been applied to the Bitcoin chart, and I expect Bitcoin to rebound from its current price and complete its pullback to the support zone.
Now that we talk about the support zone, it is better to go to the technical analysis and see what results we get.
Stay with me in this section.👍
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Technical :
Regarding technical analysis, let's take a look at the ➖negative➖ and ➕positive➕ signs in the chart.
➖ Negative signs ➖:
Sell signal by 50-SMA and 50-EMA.
Loss of 🟢support zone($21,600-$20,940)🟢.
Completion of 5 impulse bitcoin waves at $25,250.
➕ Positive signs ➕:
Bitcoin is moving in price Reversal Zone(PRZ).
Bitcoin has reacted positively to the 200_SMA.
The fall of Bitcoin to the import support line can act as a pullback to this line.
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Conclusion :
According to the explanations I gave in the fundamental and technical sections, I expect Bitcoin to grow to at least the lost support area and complete a pullback to this area before starting to fall again.
The best area to finish the decline can be the intersection of the important support line and the uptrend line, which is the intersection of the 🟢heavy support zone($18,700-$17,810)🟢.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,03/12/2023)!!!Bitcoin is running near the Price Reversal Zone(PRZ).
It seems Bitcoin was able to complete last microwave C on PRZ.
I expect Bitcoin will go down after breaking the support line to Important support line(Weekly TF).
Also, Bitcoin can make another contracting triangle by previous waves.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,03/10/2023)!!!Bitcoin is running near important downtrend line (Weekly TF) and 200 day Simple Moving Average {200_SMA200(Daily).
Also, Bitcoin was able to make and Expanding Ending Diagonal.
I expect Bitcoin will go up at least to 🔴resistance zone($20500-$20390)🔴.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Can Descending🥟Scallop🥟Deliver Bitcoin to Support zone❗️❓Bitcoin has been moving in a descending channel for several days.
It seems that Bitcoin has formed a descending scallop pattern to break the support line.
I expect Bitcoin to fall to the 🟢support zone($21600-$20940)🟢 and the lower line of the descending channel after breaking the neckline.
❗️Note❗️: We must wait to break the neckline to verify the descending scallop pattern.
🔔Descending Scallop🔔: Descending Scallop is a continuation pattern that forms in the middle of the downward trends, where the price continues its downward trend after that.
Bitcoin Analyze ( BTCUSDT ), 1-hour Time frame ⏰.
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Bitcoin can Escape from 🎪Descending Channels Festival🎪❗️❓Bitcoin is moving in a main descending channel in the 4-hour time frame, and as I expected, the descending Scallop pattern worked well.👇✅
But if you look a little more at the Bitcoin chart in the 1-hour time frame, you will notice that Bitcoin was able to create a smaller descending channel inside the main descending channel.
I expect Bitcoin to break out of the minor descending channel soon and reach the support line.
Bitcoin Analyze ( BTCUSDT ), 1-hour Time frame ⏰.
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Can Bitcoin Break the Support Line❗️❓🧐Bitcoin seems moving in a descending channel and is currently near the support line.
I expect the support line to be broken and Bitcoin to reach the 🟢support zone($21600-$20940)🟢, the lower line of descending channel, and start to grow from the TRZ (at least to the support line is broken).
You may ask why I say that Bitcoin can break the support line❗️❓
🔆Because of the sell signal created by EMA50 and SMA50.
If the daily candle closes below the SMA50, the probability of the support line being broken by the next day's candle is very high.
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
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Where I draw the line for #BTCMy #BTC view:
If daily kijun is touched I'll be 99% convinced the bubble has topped for now.
I will be buying around there but I will not expect a new yearly high.
Otherwise, higher low should form above daily kijun, the uptrend will continue and new yearly high will be made.
That's why I think it's a very nice spot to take some profit at high 21.xk if already short from higher.
BITCOIN (BTCUSD): Detailed Technical Outlook ₿
Bitcoin successfully violated a wide horizontal daily demand area.
The broken structure turned into a supply zone.
The market is correcting now.
I spotted a bearish flag pattern on 4H time frame.
Its bearish breakout may initiate the next sell off.
Watch carefully the reaction of the price to its rising support.
Consider shorting after a 4H candle close below with initial target being 22100.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,03/02/2023)!!!Bitcoin is running near the zone and support line.
I expect Bitcoin to start rallying to the resistance line and, from there, to a resistance zone or back to the support zone again.
🔥More possible🔥: Bitcoin is likely to break the resistance line and move toward the resistance zone.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,02/28/2023)!!!Bitcoin was able to break the uptrend line by a breakout candle.
I expect Bitcoin to fall to my targets that I specified in my chart.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (Short Term, 1-hour Time Frame,02/26/2023)!!!If you want to know more about my bitcoin road map that I shared with you today, look at the below post as well. 😉👇
Bitcoin is moving in a descending channel on the 1-hour time frame.
If we want to look at Bitcoin in the one-hour time frame from the perspective of the Elliot wave theory, Bitcoin is near the upper line of the descending channel, and at the same time, it is completing microwave 4, and since microwave 2 was a price correction, it looks like a microwave 4 is time correction, and counting is correct.
I believe Bitcoin will fall from this price range to the next support zone.
Bitcoin Analyze (BTCUSDT), 1-hour Time frame ⏰.
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Bitcoin Analyze (30-minute Time Frame,02/23/2023)!!!Bitcoin seems to be forming a descending channel, and to complete this channel; it needs to complete its zigzag(ABC/5-3-5) correction.
As a result, I expect microwave B of this zigzag correction to end on the middle line of the descending channel and Fibonacci levels, and then Bitcoin will start to rise to the PRZ(Price Reversal Zone).
❗️ Note ❗️: if Bitcoin goes over $25340, the scenario will change.
Bitcoin Analyze ( BTCUSDT ), 30-minute time frame ⏰.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,02/22/2023)!!!Bitcoin was able to make a rectangle pattern after breaking the uptrend line.
To form a rectangle pattern, it is enough to find two pivots on the top and two pivots on the bottom, and it is better that these pivots are aligned.
In my opinion, Bitcoin can break the lower line of the rectangle pattern and fall to the support zone( More possible ), although it is also possible that Bitcoin will continue its way in the rectangle
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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⚖️Bitcoin Analyze (15-minute Time Frame,02/20/2023)!!!⚖️Bitcoin seems to have responded to yesterday's bearish move with a mirror movement.
This mirror movement ends in the 🔴PRZ(Price Reversal Zone)🔴.
Also, in PRZ, Bitcoin has to 👊fight 👊with Psychological Resistance Level(Round Number).
Since Bitcoin has been able to break the uptrend line, I expect Bitcoin to fall again.
❗️ Note ❗️: if Bitcoin goes over $25340, the scenario will change.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (🦀🦀🦀,15-minute Time Frame,02/19/2023)!!!Bitcoin managed to form a Bearish 🦀Deep Crab🦀Harmonic Pattern in the resistance zone and PRZ(Price Reversal Zone), while point D of this pattern is formed in TRZ.
Also, the break of the upper line of the ascending channel was fake (bull trap).
As a result, I expect Bitcoin to fail to break the resistance zone to the upside and start falling.
❗️ Note ❗️: if Bitcoin goes up over $25340, the scenario will change.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (Short Term, 15-minute Time Frame,02/18/2023)!!!Bitcoin was bullish today, but I don't think it will continue this trend; one of the most important reasons for me is the wave structures, which I don't mention in this post.
Another reason is the possibility of forming a Bump-and-Run Reversal Top Pattern.
The Bump-and-Run Reversal Top Pattern forms when, after a gentle upward trend, a more aggressive one appears on the chart. The price pivots at the peak and then falls like an avalanche.
In this scenario, only professional skiers/traders survive and thrive with considerable portfolio gains. In the following section, I will teach you how to make money when there’s blood in the snow!
This pattern forms when the price rallies too far up. People second-guess themselves buying at such high prices while sellers sell confidently, causing a downward trend. This means you can see a clear reversal in the Bump-and-Run Reversal Top Pattern. Although this pattern is considered a single entity, it consists of three separate parts or phases:
1) Normal and steady trend, called the “Lead-in Phase.” Imagine it as walking up a mountain.
2) Market participants going crazy with greed, called the “Bump Phase.” You can imagine this one as an ascent to the mountain’s peak.
3) The price falling and causing bloodshed of candles, called the “Run Phase.” At last, you ski down the snow, collecting profits on your way.
Bitcoin seems to have passed the peak of the Bump-and-Run Reversal Top Pattern Bump and is completing this phase.
After breaking the support trend line, the Run phase is expected to start.
Also, we can see the Regular Divergence(RD-) between Lead-in Phase and Bump Phase.
❗️ Note ❗️: After Bitcoin breaks the Bump Trend line, we can confirm the bump-and-Run Reversal Top Pattern.
❗️ Note ❗️: if Bitcoin goes up over $25300, Bump-and-Run Reversal Top Pattern will fail, and Bitcoin can go up more.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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BTC short term. Good News & Bad News.Good News is that the start of the recent trend is based on retesting the 15 months old bearish trend line which was broken sooner. BTC went up 18% in about 71 hours and then rejected from the 6 Months old resistance and came down 7% in 8 hours. Fibonacci levels are interesting to notice.
Good news is that there is a bullish trend line acted as support each time price was rejected.
Bad news is that the last high is lower than the previous one with lower volume. And we will have less volume and price movement for Saturday (today) and Sunday (tomorrow).
Generally, the trend is bullish, but the price action has weakened since the last pump. Waiting for more information.
The script used for weekday average can be founded here
Bitcoin Analyze (Short Term, 15-minute Time Frame,02/17/2023)!!!It seems that Bitcoin was able to complete microwave 4 of microwave 5 of main wave 5 near the heavy support zone.
I expect Bitcoin will continue its growth to around $25780 or maybe more.
❗️Note❗️: My posts are NOT financial advice in any way.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (Road Map, 02/16/2023)!!!🗺️Bitcoin has confirmed the end of its main wave 4, by to the growth it had the previous day.
I expect Bitcoin to start growing again after returning to the broken resistance zone and complete its main wave 5.
You can see Bitcoin's daily and weekly analysis from the links in the chart.
Bitcoin Analyze ( BTCUSDT ), Bitcoin Analyze ( BTCUSDT ), 4-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position that you want to open).
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Bitcoin Analyze (Short Term, 15-minute Time Frame,02/13/2023)!!!I hope you have followed my posts and swept the market😎 💵dollars💵😎.
Although my posts are NOT financial advice in any way.
It seems that after Bitcoin went through a bull trap, it completed microwave 4 of wave C and is currently on the way to completing microwave or, rather, completing wave C.
The structure of microwave 5 of main wave C can be an Ending Diagonal pattern.
I expect Bitcoin to start growing around the Monthly Pivot Point(or PRZs) and find the end of its wave C.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
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Bitcoin Analyze (Road Map, 02/05/2023)!!!🗺️After breaking the important downward trend line, Bitcoin seems to have passed the main corrective wave A and is on the way to completing the main corrective wave B.
If you are curious about the structure of the main wave A, I suggest you take a look at the following post.👇
If you pay attention to the microwaves on the daily time frame, you will notice that Bitcoin has passed microwave 3, and since microwave 2 was a price correction, I expect microwave 4 to experience a⏰ time⏰ correction.
I marked the end of microwave 4 (zone) on the chart.
We can also consider microwave 4 as a pullback to the broken important downtrend line.
The interesting point is that SMA50 and SMA200 are creating one of the famous signals, the Golden cross.
🟡What is a Golden Cross❗️❓🟡
A Golden Cross is a basic technical indicator that occurs in the market when a short-term moving average (50-day) of an asset rises above a long-term moving average (200-day). When traders see a Golden Cross occur, they view this chart pattern as indicative of a strong bull market.
❗️ Note ❗️: Be sure to follow me in the next post; I will talk more about Bitcoin's bullish signs, targets, etc.
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
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