BTC - 68430 High Take-Out68430 has been taken out as expected. Now price need to rise a bit more to around 68 600 before it falls hard. This is the move I've been talking about. It is panning out nicely!
PATIENCE IS KEY!
BTCUSD.PI trade ideas
BTCUSD : Correction after DiagonalBTCUSD is Entering a New Uptrend, but a Slowdown May Occur
In recent weeks, BTC's upward movement has not been very aggressive, and selling pressure has been consistently present.
Currently, BTC appears to be in the 5th wave of a Leading Diagonal. However, a slowdown may happen soon due to the following technical signals:
The price is hitting a major descending trendline.
The price is slowing down after encountering an FVG (Fair Value Gap) on the H4 timeframe.
AO (Awesome Oscillator) is showing divergence, starting from smaller timeframes up to the H4.
If a slowdown occurs, BTC may retrace to the 50% or 78.6% Fibonacci levels, which are targets for the Diagonal.
Note: Price zones are only significant areas that affect price movement.
BTCUSD TRADE SETUP PAIR : BTCUSD
✔ Classic SHORT TERM BEARISH formation
BTCUSD Uptrend are holding but the market is likely to retracement from supply zone . We can get short term a sell setup from there. . If your analysis matches it take a trade otherwise skip the trade.
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BTC - Long-term Bear SentimentAs we all know that price always moves in zigzags in the markets. Price now has to take out the 68 430 high then progress to my 68 600 region. Once price is there we can then expect a fall.
Remember, PATIENCE IS KEY!!
Short entry - several RSI-divergences formingPrice got rejected at the short liquidity zone around 70K.
Two RSI divergences at the last high.
Possible short entry with tight stop and 1 : 3 profit target.
Bitcoin Breakout : Is Now the Perfect Time to Buy BTC? Target $7"Bitcoin is on the verge of a major breakout! Could this be your best chance to go long and ride the wave to $76K? Don’t miss out on this potential game-changing move in the crypto market!"
This chart analysis of BTC/USD on a daily timeframe shows a potential bullish breakout from a descending channel, suggesting a favorable buy long opportunity. After a series of lower highs and lower lows, Bitcoin has formed a double-bottom pattern at key support levels near $52,000, signifying a potential reversal.
Key points to consider for the **buy long** recommendation:
1. **Channel Breakout:** Bitcoin is nearing the upper boundary of a descending channel. A breakout above this level, particularly around the $68,000 mark, would confirm a bullish reversal.
2. **Retest of Support Zones:** After testing resistance at $68,000, there is a chance of a pullback to the horizontal support between $64,000 and $62,000. This level is ideal for accumulation and initiating long positions as buyers are likely to step in at this support zone.
3. **Bullish Divergence:** The price structure shows a series of higher lows, forming a rounded bottom, indicative of buyers slowly gaining control. The chart’s projected green path shows an upward movement toward $74,000–$76,000 as a future target.
4. **Risk-Reward Setup:** If Bitcoin breaks out successfully from the descending channel and retests support without dropping below $62,000, this presents a good entry point for a long trade. Stop-losses should be placed below the $60,000 region to mitigate risk.
This analysis supports a bullish outlook for BTC/USD, but caution should be exercised in case of a failed breakout.
**Disclaimer Statement:**
"The content provided in this video is for educational purposes only and does not constitute financial or investment advice. Trading cryptocurrencies involves significant risk, and you should always perform your own analysis before making any investment decisions. The creator of this content is not responsible for any financial losses incurred by viewers. Additionally, any misuse of this information for illegal activities will be prosecuted under applicable laws and may have spiritual consequences in the hereafter."
Rising wedge breakdownLiterally no ne will see this on TradingView, but I'm still going to post it.
Bookmark this: it's over.
Precious metals alpha is taking over the reigns from sh*tcoin beta (bitcoin).'
Massive rising wedge breakdown at the same time as weekly EMA30.
BTC final discount opportunity approaching by Thanksgiving!Cycles analysis indicating one more final liquidity sweep down to 42-45k likely by end of Nov 2024. After that it’s off to continue the bull cycle with primary target on monthly cycle being 1 million!!
The time window for affordable bitcoin is quickly closing!!
Critical Moment for $BTC: Last Chance for Entry or Path to Doom?Massive Level for CRYPTOCAP:BTC
As things stand, we’re at a crucial point for a higher low and a complete validation of the weekly bearish BMS. We need some demand to step up in the 56-60k region to propel us to "Valhalla" and set the stage for a strong end to the year.
Be aware that if we drop below 58k, it could pose significant risks for a bullish outlook. This is the moment to act and take a stand at these prices!
Keep your bids around the mid-59k range in case it dips that low. The trade is active and rolling!
120k #BTC Sooner than later..... No matter how i chart #BTC the 120k to 130k price level is my target For the next year. Technical stand point BTC moves always seem to be calculated This chart is back to the basics and pretty simple Pure market structure. What are your thoughts? This is also why im not ruling out another trip to 40K. But for now........ I think we may take a crack at 72k
Descending Broadening Wedge BTC weeklyEveryone and their mother seems to think breakout is coming very soon to 100k and the moon. I think there is a strong case for a major dump to 40k or so and then we can soar up above this usually very bullish pattern. 42k is where this last pump began so a major pull back can signify a complete correction and fulfill the pattern's objective.
In order for this to happen we will see blood red the next couple months at least before we soar to new heights. Fundamentally it would make sense to see some disorientation and FUD in the market to shake people out who bought the top.
Looking forward to yr thoughts.
#btc #btcusd #Bitcoin #Elliottwave short sell setup 20Oct24This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
Monthly chart could be a cup and handleJust going through the intervals and thought maybe a cup and handle is forming on the monthly chart.
BTCUSDBTC is not telling us a market reversal at the moment. Let's see if on Sunday it reacts for a continuation of the rise or a bearish return.
The bollinger bands don't show us anything interesting for the moment, we see higher and higher highs for the moment and internally lows that are building.
14/10/2024 BTC LongBTC reached strong level of resistance but upward liquidity is massive and hence MM has strong interest to break and collect massive liquidations.
Bitcoin Testing Gann Fan Support LevelsThe chart illustrates Bitcoin's price movement through the Gann Fan levels, highlighting crucial support and resistance areas.
Currently, BTC is approaching the 1/2 Gann level, indicating a critical point where the price could either stabilize or break further down.
If BTC fails to hold the support around the 1/2 level, we may see a decline towards the 2/1 and potentially the 3/1 levels, with a downside target around the $42,000 range.
Historically, BTC has shown significant reactions at these levels, with the price either reversing or entering prolonged consolidation phases, aligning with major market cycles.
Given the past trends and the proximity to BTC’s production cost levels, this could be a strategic point for market participants to evaluate potential opportunities.
Key Points:
Current Resistance Level: 1/2 Gann Fan
Potential Support Levels: 2/1 and 3/1 Gann levels
Downside Target: $42,000 area
Conclusion: As BTC navigates these critical Gann Fan levels, traders should closely monitor for breakouts or consolidations, particularly as the price nears historically significant production cost zones. This might provide important trading signals for positioning and risk management.
Bitcoin Approaching Key Support Levels: Fibonacci Speed ResistanThe chart indicates that Bitcoin is nearing critical resistance and support zones, as illustrated by the Fibonacci Speed Resistance Fan.
Currently, BTC is testing the 0.382 resistance level, and there's a possibility of further downward movement, indicated by the red forecasted path on the chart.
Should BTC continue to correct, key support levels can be observed at the 0.618 and 0.75 Fib levels, with potential to reach as low as the $42,500 area.
Historically, Bitcoin's price has shown strong reactions at these Fibonacci levels, often leading to either consolidation or reversals.
This analysis aligns with BTC's production cost levels, as previously observed after halving events, where the market tends to stabilize near the cost of production.
Key Points:
Current Resistance: 0.382 Fibonacci level
Critical Support Levels: 0.618 and 0.75 Fibonacci levels
Potential Downside Target: $42,500
Conclusion: Traders should watch for potential reversals or consolidation near these Fibonacci levels, which align with BTC's historical production cost patterns. A break below the 0.75 level could signal further downside, while holding the support could present a buying opportunity.
Bitcoin Price Aligning with Production Costs: HistoricalThe Bitcoin mining industry currently faces an estimated production cost of $23,000 for power and $20,000 for hardware per BTC.
Historically, Bitcoin’s price has repeatedly aligned with its production cost, particularly after halving events, acting as a strong support level.
We have observed this correlation on at least four occasions, indicating a consistent pattern where BTC price approaches or stabilizes around its production costs.
This behavior suggests that production cost serves as a critical price floor, impacting BTC's overall market dynamics and long-term price support.
As Bitcoin approaches these levels again, traders and analysts should monitor this key support area closely, as it may present buying opportunities or signal potential market stability.
Key Points:
Production Cost for BTC: $43,000 (total)
Historical Correlation: 4 occurrences, mainly post-halving events
Implication: Production cost acting as a critical support level
Conclusion: Technical analysts should keep an eye on this price range as a significant indicator of market behavior, potentially guiding strategic entry points or identifying long-term support trends.
BTC Short to 45k The BTC mining industry currently incurs the following production costs per BTC:
Power cost: $23,000
Hardware cost: $20,000
Historically, BTC's market price has aligned with its production cost on at least four occasions.
This pattern is especially evident after halving events, where the price tends to reach or hover around the production cost level.
The consistent correlation between BTC's price and production cost is a significant indicator for technical analysis, suggesting a critical support level in market behavior.
1:10RR sell position on BTC/USD!!!- Last time looking for selling opportunities, a solid break above these levels and a full breakout is likely. A drop from here would provide huge discounts on altcoins
BITCOIN Correction Ahead! Sell!
Hello,Traders!
BITCOIN is trading in a
Strong uptrend but the coin
Has reached a falling resistance
Line so as BTC is locally
Overbought we will be
Expecting a local
Bearish correction
Sell!
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Likely heading to 60-days cycle low We’re currently on day 43 of the 60-day cycle 📅, which means it’s typically not a great time to jump into the market (based on past data) ⚠️.
The 1-day Cycle indicator is sitting at 85 📊, and while the 1-week cycle (red line) is still growing, we’re due for a reversal soon 🔄.
We’ll likely drop into the 60-day cycle low shortly ⏬.
