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Bitcoin long term analysis on weekly time frameBitcoin has reacted to the 19,000 range, if the candle closes green this week it will rise to the 24,000 level, where it will hit the downtrend line for the third time, if it can break the trend line, it will go to the 32,000 level, if not. If it breaks and returns from the trend line, it will hit the 19,000 range for the third time, and it may drop to the 12,000 range if it breaks that level. Thank you for your attention We are waiting for your comments.
BNC:BLXShort
by nikbonyad
Bitcoin (The Entire Wave Structure, EXCLUDING the 1st impulse)Friends, I hope your are all having a lovely start to your week. The attached chart is one that I have decided to add to the Bullish side and one I have personally been reluctant to post. It does do something that many will argue with, and I can accept their push back. It is the idea that Bitcoin is still missing a Grand Final 5th Wave top. The way we get there is by excluding the first impulse of the infancy of Bitcoin. The rationale behind it being excluded is simple: There was little to no volume, no real world on ramps, & little to no adoption. When you exclude the move from $.01 to $30, and actually start the count at $2 you can actually draw out the Grand Elliot wave cycle with each sub waves quite easily. Please note: I have shifted the Grand cycle waves (1,2,3,4,5 in Bold Black) over to the right to reveal the sub waves (light Black 1,2,3,4,5 and light red for ABC corrective waves) that make up the larger waves. Suffice it to say, the Grand waves do align with the key tops and bottoms. Lastly, I included the MONTHLY RSI/Stochastic to reveal where each major low occurred. We are currently there now. These readings are found at the 2nd corrective wave low, the 2nd corrective wave low in our Grand 3rd wave, and now at what could possibly be the bottom of our 4th wave low. EACH LOW ALSO COINCIDED WITH A RETEST OF THE .786 FIB. So all technical factors have been satisfied. While this is a highly contrarian view, it is one that I will post with ZERO shame. I am not here to acquiesce a position to please others, but merely post the facts on the chart. :)
BNC:BLX
by JTheretohelp1
1
BraveNewCoin BLX - Short Opportunity 📈Hi Traders, Investors and Speculators 📉📈 Why follow me on Trading View? 🎯 CryptoCheck team has 20 years + combined trading experience 🎯 Established 2019 and not going anywhere 🎯 Ev here - been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩‍🏫 In today's chart - BraveNewCoin. This is short opportunity, I have identified an easy short setup with low risk on BLXUSDT. Thank you for visiting ! Please show your appreciation for this post by hitting Like👍 and Follow 📢 _________________ 👀 Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎 👍Hit like & Follow 🔔 We thank you for your support ! CryptoCheck
BNC:BLXShort
by CryptoCheck-
32
Updated BLX possible Bitcoin bottom indicationsAs mentioned previously, the last two bear market lows are the only time that the weekly RSI has closed in oversold. The RSI and Stoch RSI structures at that point, and leading out, are the same. And this all appears to align with the most recent breakdown into oversold just a couple of months back, in June. We can also note a pullback after RSI rallied out of oversold in the previous occurrences. This would be the likely stage we are in if the chart continues to follow those previous bear markets. The orange line is the weekly 200 MA. The green line is the weekly 50 MA and the blue line is the weekly 100 MA. The 50 has crossed below the 100 in the previous two bear markets AFTER price has bottomed. We appear to be a week away from that same cross right now which means that IF the chart continues to follow the previous two bear markets, then we shouldn't see a low below the June 2022 swing low. Finally, we can note that the hash ribbons indicator at the bottom of the screen has flashed the recovery lime green bubble after flashing the grey capitulation bubble. So, while past results don't guarantee the same in the future, there are a lot of similarities in the same areas. We will see if they play out the same way this time or not.
BNC:BLX
by Chris_Inks
7
A Bullish ScenarioI will start this off that yes BTC can fall lower and I've outlined previously that 12k~ is probably an area id start buying again if the market crashes (however I have some exposure here in case I'm wrong) - I do believe we may see in the future major detachment from physical metals and BTC from major index's at a time people least expect it - As I'm of the belief that BTC will end up being a commodity like gold and silver and algos will start pushing all 3 very high.
BNC:BLXLong
by Swoop6
The Rally not over until $30k $40kWhile we are in choppy market or bear market rally, stock indices like SP500 almost hit 50% of retracement and people already started bearish to new lower lows. I half agreed with them but Bitcoin doesn't give me a confirmation of its bear market rally top. This seems like Bitcoin needs at least 0.236 or 0.382 retracement between $30k to $40k range. Let's not forget we have midterm election upcoming. This gives me confident this market could drag to November. Just my prediction, folks. Happy trading.
BNC:BLX
by thienlovv
6
Bubble Trouble: A Multi-Decade Bitcoin Prediction (BTCUSD)Admittingly, I am beyond fascinated by the structure and massive growth that Bitcoin has seen over the years. I don't mind acknowledging the fact that I was late to crypto and trading too, to an extent. My missing of the initial take-off has nothing to do with this prediction and I share it with no bias at all. While I do believe that cryptocurrencies are now a staple in the world's financial system, I have little faith that Bitcoin will forever remain as the most dominant currency within the market. I say this solely because of BTCUSD's price structure and current wavemapping. I don't follow news too closely nor do I heavily consider many factors outside of the chart itself. The use of Elliott Wave Theory allows me to minimize any personal bias and follow a close set of rules/guidelines to help find tremendous probabilities, both bullish and bearish in nature. Surely, I am familiar with the term bull and bear , but I regularly subscribe to neither. Rather, I surf wherever the profits may take me. So now you know a bit about my logical stance, let's talk specifically about Bitcoin. Having surged 202875423 % since its inception, its easy to fall in love with the allure of its massive, historical strides however, I find an issue with Bitcoin not having made its proper corrections earlier in its journey. With a very dismal 38% correction after its rise to $31, one could consider this as a Wave 2 correction despite not reaching common retracement levels. The hypothetical Wave 2 also failed to erase the previous Wave 5 within primary Wave 1. There are no rules that dictate these actions as being invalidation indicators but they both go against what's most frequently observed (within impulsive waves). Rather than considering the correction from $31 > $2 as Wave 2, logically I place this as a Wave B correction. After B wave's termination, naturally its my expectation that C wave has then started. Usually within a diagonal wedge, I have the tendency to assume C wave will generally be a smaller diagonal pattern but its totally eligible to be in impulsive wave as well. Hint: A diagonal wave is constructed of 5 zig-zag waves. The anatomy of a zig-zag is that both A and C waves have to be 5 wave moves. The are two options for 5 wave moves in Elliott Wave Theory - Impulsive or Diagonal waves . A zig-zag can have two impulsive waves between A and C but cannot have two diagonal waves between A and C (see below) . As stated in the image above, I believe that Bitcoin is currently in a wedge formation with Wave 1 being constructed of a zig-zag with two impulsive waves (A + C). Currently moving through the (C) wave of Bitcoin's primary first wave, I believe that we are more precisely within Wave (a) of Wave 4 - within (C) wave of Bitcoin's primary first wedge-wave. Based on my perception, the anatomy of (C) wave can be seen here: As for Wave (a) of Wave 4, within (C) Wave (the current downside swing from $67K), I think that Bears will retain momentum until we strike the $11K-12K range. Placing the Fib tool on this specified range, it gives indication that Wave (b) of Wave 4 is likely (not promised) to reach between $103K-$136K by early 2024; a 10x wave. Also placing the Fib tool on the range of $11K to $136K, a possible range for Wave (c) of Wave 4 can be determined as $2355 to $6255; a 95% drop - possible to come by early 2025. If this drop does pan out, it will be very painful for not only Bitcoin holders but likely the crypto community as a whole - only for a brief period of time. We Elliotticians know that after Wave 4's correction, new heights are generally seen within Wave 5 (aside from truncated Wave 5s). Using the Fib tool to measure the total price range of Wave 4, we can also gather possible levels for the hypothetical Wave 5 that should come. What target range do you think we'll see? Ready for this () ? The idea of Bitcoin hitting $1,000,000 by the year 2027 may seem farfetched to some. The idea of Bitcoin falling from $1,000,000 to $10 will surely seem farfetched to the rest but by 2030-2032 I expect this to come to fruition. From this level, I believe Bitcoin will initiate its next bullish wedge wave which should should once again hit astronomical levels, maybe near $1,700,000. Who knows! The alternative to this idea is that Bitcoin gets Luna-bombed and drops from $1,000,000 to $0! For more actionable, daily and near real time analysis, join me on the waves (and don't forget your surfboard). No updates will be shared under this post; see my TradingView bio and let's connect.
BNC:BLX
by DigitalSurfTrading
5