BTC/USDT The Parabola will BreakChecking the chat we are in a nice price action going up, but careful the moment in the future this parabola will break its the time to take profit.
BTCUSDT.P trade ideas
When I welcomed you to New All Time Highs season I was not kiddiWhen I welcomed you to New All Time Highs season I was not kidding!
CRYPTOCAP:BTC printed a new all time high of $80000 by Coinbase🥳
I literally congratulate you for your patience and hope you were smart enough to listen and accumulate this range. Now just watch your numbers to go up🥂
@Whalescryptovip
BTC Resistance Level Hit - What's Next for Bitcoin?🚀💰 BTC Resistance Level Hit - What's Next for Bitcoin? 💰🚀
Bitcoin has reached a major resistance level at $79,653, a target I set way back in January 2023 when Bitcoin was hovering around $18,000. This significant rally brings us to an inflection point — will BTC break higher, or is it time for a correction?
🔹 Current Resistance Level: This is a critical technical level that, if broken, could propel BTC towards the next target near $108K. However, a rejection could lead to a period of consolidation or even a pullback.
🔹 Support Levels to Watch:
Immediate support around $74,797 and $71,296.
Strong structural support at $66,328, a key level that could offer buying opportunities on any retracement.
🔹 Altcoin Season? With Bitcoin reaching one of its massive targets, attention might shift to altcoins. Ethereum, SUI, Cardano, and other alts are starting to show strong momentum, signaling a potential altcoin rally on the horizon.
💡 Strategy Insight: Stay alert and monitor these levels closely. For those trading BTC, consider buying above the $79,653 level if BTC breaks and holds above. For altcoin traders, this could be a window of opportunity as the capital rotates.
As always, check my Where Can Bitcoin Go chart for a detailed breakdown of key levels and future projections. The charts don’t lie — the numbers are unfolding as planned.
One Love,
The FXPROFESSOR 💙
Bitcoin: Bullish Continuation Within Ascending Channelhello guys.
The BTC/USDT 4-hour chart indicates a strong bullish trend, with Bitcoin trading within an established ascending channel. The price has been respecting both the upper and lower trendlines, creating potential upward scenarios. Here’s an in-depth technical analysis:
Ascending Channel: Bitcoin is steadily moving within an ascending channel, with higher highs and higher lows. This suggests a continuation of bullish momentum unless there is a decisive breakdown.
Potential Scenarios:
Scenario 1: The price could continue rising within the channel, reaching the next resistance levels around $76,000 and potentially $79,978.02, as shown on the chart.
Scenario 2: A pullback to the channel's midline or lower support could occur before the next leg up, providing potential entry points for buyers.
Fibonacci Levels: The price has respected key Fibonacci retracement levels, indicating areas of interest for potential support and resistance.
Key Levels:
Support: Around $72,000, which aligns with the mid-channel zone.
Resistance: Immediate resistance around $76,000, with an extended target near $79,978.02.
BTC NEW Update My past analysis about Bitcoin has happened so far. This is how Bitcoin will move from now.
So do not pay attention to the previous analysis
BTC: Potential Bullish Opportunity After RetestBTCUSDT (Day Chart) Technical Analysis update
Recently, BTC price broke through the broadening wedge resistance line and reached the peak resistance level of the wedge. However, the price was rejected at this peak and is now retesting the broadening wedge resistance, which may now act as support. After some consolidation around this level, we could anticipate a strong bullish move, making this an attractive buying opportunity for BTC.
BITCOIN Short Trade Alert: Pullback Opportunity on 4H ChartBITCOIN (BTCUSD) Technical Analysis:
Bitcoin's 4-hour timeframe is presenting a promising short trade opportunity. The chart signals a potential pullback after testing key resistance levels. This setup is particularly appealing for traders leveraging 5x to 10x positions.
Trade Summary:
Entry Point: $76,549.8
Stop Loss (SL): $76,885.1
Targets:
TP1: $76,135.5
TP2: $75,465.0
TP3: $74,794.5
TP4: $74,380.2
Key Insights:
Trendline Breach: BTC's price action is testing a steep upward trendline, hinting at a potential reversal.
Momentum Shift: Weakening bullish momentum on the higher timeframe adds confidence to the short trade.
Risk-Reward Balance: Tight stop loss above resistance ensures a favorable risk-to-reward ratio.
Leverage Consideration:
5x Leverage: For risk-averse traders aiming for steady returns.
10x Leverage: Suitable for aggressive traders ready to maximize potential gains while managing risk.
Recommendation:
Execution: Enter short positions near the marked entry zone with targets aligned with the support levels.
Stop Placement: Keep the stop loss firm above the $76,885.1 resistance level to avoid unnecessary risks.
Trend Monitoring: Watch for sudden market sentiment changes that may invalidate the pullback.
Conclusion:
This Bitcoin short trade setup offers an excellent opportunity for traders looking to capitalize on a pullback scenario. Leverage wisely, adhere to risk management, and let the strategy play out for maximum gains.
The BTC shows a strong breakout above previous resistanceUpward Channel and Trendlines: The two white trendlines form a steep upward channel. BTC has broken above a prior resistance within this channel and is now approaching the upper boundary, suggesting strong bullish pressure. The price moving near the upper channel line could face resistance, so it’s essential to monitor this zone for a possible pullback or breakout.
Long-Term 100 EMA Support: The 100 EMA (blue line) is positioned significantly below the current price, around the $71,745 level. This indicates that BTC is in a strong bullish trend, with this EMA acting as a long-term support level. If there is a retracement, the 100 EMA and the surrounding support levels might serve as key zones to watch for potential rebounds.
Volume Profile (VP): The volume profile on the right shows that there is a high concentration of trading volume around the $67,000 area. This zone, would likely act as a major support if the price were to experience a pullback. The current breakout area above $76,000 has relatively lower volume, which could suggest that the price may seek to consolidate at lower levels if momentum wanes.
Volume Surge: The recent breakout is accompanied by a surge in volume, indicating strong buyer interest. Such volume increases during a breakout are typically bullish indicators, reinforcing the likelihood of further upside. However, the price nearing the upper trendline suggests that it may soon encounter resistance.
Potential Scenarios
Bullish Continuation: If BTC manages to break above the upper boundary of the channel with sustained volume, it could continue its upward trend. A breakout above this upper channel could lead to accelerated bullish movement, targeting new highs.
Consolidation or Pullback: If BTC faces resistance at the upper channel line, it may pull back or consolidate within the channel. In this case, the $76,000 level will be crucial to monitor as immediate support. Further below, the $67,000 support zone (aligned with the volume profile) could act as a strong demand area.
Retest of Key Support Levels: A more significant pullback could see BTC revisiting the 100 EMA around $71,745 or the high-volume area around $67,000. This would still maintain a bullish structure if these levels hold, allowing for potential re-entry points in an overall upward trend.
BTC Prediction 2024 to 2026 "BTC on the 4-month time frame has formed an ascending triangle, which is a bullish continuation pattern. BTC has broken a multi-year resistance level, and the target is approximately $450,000."
Politics vs Profits | The US elections & Crypto Harris, Trump, or Crypto ? Only One Goes Brrrr !
1/ The crypto market typically dips ahead of US elections
In 2016, there was a 10% dip, in 2020, a 6% decline, and so far in 2024, a 6% decrease. However, these drops aren't unusual; they can happen without clear triggers on any given day or week. So attributing extra significance to the current dip due to election is overblown it’s just business as usual in crypto
2/ The election results will trigger either a market boom or bust
Markets crave certainty over specific candidates. Once the election is over, investors can look ahead and allocate accordingly. In the grand scheme, Bitcoin and the wider crypto market don’t care who sits in the Oval Office. Whether it’s a red, blue, or mixed government, historically, crypto trends upward over time.
3/ Trump/Harris will be terrible for the economy
While Republicans and Democrats have vast differences (more so now than ever), unity isn’t our forte. How can we bring the nation together? Maybe start with a common interest and go from there
One thing’s certain, both parties have an affinity for money printing , While it’s a headache for the US’s debt situation, it benefits crypto.Why? Because a share of that newly minted money typically flows into crypto assets, which have limited or predictable inflation.
In essence, money printing devalues the US dollar but bolsters the value of scarce assets (like crypto) over time.Regardless of who wins, the money printer is expected to stay active.
While election may provide market clarity, it’s not a sure thing. Close elections can take days to finalize. So, if you feel like panicking, just remember this:
Zoom out → stay calm → remember…In the long run, crypto tends to prevail.
November is off to a roaring start with several significant market events – and that’s just in the first week! But before we look ahead, let’s review October to see where we stand:
1/ October Recap
Expectations were high for ‘Moontober,’ and it delivered (though gains were modest).
October saw:
- $ BTC up 11%, with the broader crypto market up 10%
- US Bitcoin ETFs purchased 5.83 times more CRYPTOCAP:BTC than was mined in October.
This demand and limited supply helped push the total crypto market cap out of an 8 month descending trend, signaling a potential reversal.
2/ Macro Outlook
Now, on to November. This week features two major macro events:
- US Elections – Tuesday, Nov 5th
- Rate Cuts – Thursday, Nov 7th
Markets expect a 0.25% rate cut. Though smaller than September’s 0.50% cut, it could ease market pressure.Lower borrowing costs reduce debt servicing expenses, freeing up cash for spending and potentially boosting both the economy and crypto markets.
The bonus? Historically, Bitcoin’s average return in November is +43%
If this trend holds, we could see CRYPTOCAP:BTC hit $100k by month’s end!
Cross your fingers, toes, and eyes!
3/ Token Unlocks
October had $5.4B worth of token unlocks, creating potential sell pressure. Thankfully, November’s unlocks are lighter at $2.6B, which may limit that pressure.
4/ Earnings Reports
This week brings earnings from:
- Franklin Templeton (managers of the AMEX:EZBC Bitcoin ETF)
- Arm (semiconductor architecture designers)
- Qualcomm (wireless tech products)
- Sony (self-explanatory)
But November 20th is the main event, with Nvidia ( NASDAQ:NVDA ) – the AI powerhouse – reporting earnings.That’s November in a nutshell.
We’ll be here daily with updates as events unfold
Bitcoin (BTC): technical and fundamental analysis📈 Technical analysis BTC/USDT
The Bitcoin price has reached a new all-time high (ATH) following Donald Trump's victory in the U.S. presidential election. This price movement has fully validated the scenario outlined in our previous analysis. Now we expect a correction of the latest growth wave in the near future. Key targets for this correction could initially be the dynamic support levels at EMA 50 and EMA 200. The first 1H Imbalance zone is near EMA 50, where gaps on the horizontal volume levels need to be filled through trading consolidations. If sellers manage to push through the 70,000 support level, where the EMA 200 line also lies, we anticipate the start of a full correction of the November growth. In this scenario, the price may drop to the next 4H Imbalance zone, situated between the 0.61 and 0.78 Fibonacci retracement levels, where corrections typically conclude and a reversal occurs.
For BTC to continue its upward trend, it needs to surpass the 77,000 level, which would open the path for a test of the significant resistance block at 80,000.
📉 Bitcoin market global analysis
On the daily logarithmic chart, it’s crucial for Bitcoin’s price to hold above the 70,000 level with a weekly close to support continued growth. Otherwise, BTC may face a correction. This is further indicated by the beginning of a divergence on the RSI indicator, which has been in the extreme overbought zone for an extended period.
What are Bitcoin’s long-term growth targets?
Above the current ATH, there are no resistance levels based on historical data. To determine growth targets, we’ll rely on trend lines, Fibonacci extension levels, analysis of large order block clusters in order books, and, of course, indicators.
According to the MVRV Deviation Pricing Bands indicator, the next target for Bitcoin is 85,000, where the first Fibonacci extension level of 1.23 is also located. In the 90,000 - 100,000 range lies a global trend line constructed from the peaks of Bitcoin’s previous two cycles, aligning with the 1.38 Fibonacci extension level. The highest trend line, situated between the 1.61 and 1.78 Fibonacci levels, could be tested starting from the 100,000 level.
💠 Analysis of liquidity zones and levels
The Fear and Greed Index is in the Greed Zone - 75.
The total capitalization of the cryptocurrency market has grown to $2,531 billion, and the Bitcoin Dominance Index has increased to 59.73.
According to the analysis of the accumulation of large order blocks in the order books, the largest blocks are at levels 77,000 and 80,000, and the supply and demand zones are located at the following levels:
🟢 Demand zone: 50,000 - 70,000
🔴 Supply zone: 80,000 - 90,000
Levels for long positions:
70,000 - psychological support level
65,000 - large support block
60,000 - large support block
Levels for short positions:
77,000 - large resistance block
80,000 - largest resistance block
90,000 - 100,000 - ascending trend line of resistance
📊 Fundamental analysis
Bitcoin-Based Spot ETFs Set a New Record. On November 7th, Bitcoin (BTC) spot ETFs reached a new milestone, attracting $1.38 billion in a single day—the largest daily inflow since their launch in January. This record-breaking inflow was fueled by Donald Trump's victory in the U.S. presidential election, as many investors believe his re-election will positively impact the crypto industry. Another factor driving Bitcoin’s growth was the recent decision by the U.S. Federal Reserve (Fed), which lowered the key interest rate by 25 basis points during its latest meeting.
What Changes Are Expected in the Crypto Community After Donald Trump's Victory:
- Bitcoin could become one of the strategic reserve assets of the U.S.;
- Token classification systems may change, with most cryptocurrencies likely to be considered commodities rather than securities;
- Crypto investors might enter the market more actively;
- Banks could gain more freedom to provide services to crypto startups and interact openly with the crypto industry;
- Spot exchange-traded funds (ETFs) based on Solana (SOL).
🌐 Upcoming Events in the Global Economy
We expect increased volatility in both stock and cryptocurrency markets on the following dates:
➤ 11/13, 4:30 PM - US Consumer Price Index (CPI) for October.
➤ 11/14, 11:00 PM - Fed Chairman Jerome Powell's speech.
➤ 11/27, 4:30 PM - GDP data (q/q) (Q3).
➤ 12/18, 9:00 PM - New Fed interest rate decision.
➤ 01/29/2025, 9:00 PM - New Fed interest rate decision.
📈 Statistics of signals from our AI trading indicator:
In October 2024, the Bitcoin price continued to recover its positions, thanks to positive expectations from the US elections and further reduction in the key interest rate of the Fed.
Our trading indicator, as always, warned about this in advance! And even during the flat period it gave good entry points. Thanks to the latest updates, all signals have become profitable, and built-in Anti-Flat System prevented losses from manipulative market movements. 😎
Total price movement by all signals: + 41.89%
Maximum price movement: + 13.77%
Average price movement: + 7.58%
In addition, I would like to share the forecast of the latest Bitcoin price action by our AI, which not only indicates the direction, but also builds the trajectory of further price movement:
Indicators vs. Strategies: A Complete Guide
Understanding Indicators vs. Strategies in TradingView: A Complete Guide
When navigating TradingView, one of the essential questions traders face is whether to rely on indicators or strategies to inform their trading decisions. Both indicators and strategies play critical roles, yet they serve distinct functions and require different approaches to money management, risk, and emotions control. Let’s explore the key differences between indicators and strategies in TradingView and discuss best practices for risk management, along with strategies to avoid.
1. Indicators: The Building Blocks of Analysis
What They Are
Indicators are statistical tools that help traders interpret market data, revealing trends, potential entry and exit points, and momentum. Indicators can be used individually or combined for more complex insights. In TradingView, indicators can be customized to fit different asset types, making them versatile tools in any trader’s toolkit.
Pros
Simplicity: Indicators can be straightforward and easy to interpret, especially for beginners.
Flexibility: Traders can apply indicators to various timeframes and markets.
No Repainting: Well-designed indicators do not repaint, meaning they don’t change past values when new data comes in, providing stable signals for backtesting and live trading.
Cons
Limited Guidance on Money Management: Indicators alone don’t provide a full plan for money management, position sizing, or stop-loss placement.
Potential for Over-Reliance: Relying solely on indicators can lead to analysis paralysis or a false sense of market understanding without a structured risk management framework.
Emotional Challenges: Indicators require interpretation and patience. Without a clear exit plan, traders may succumb to emotional impulses, like exiting too early or holding onto a position for too long.
2. Strategies: A Comprehensive Trading System
What They Are
Strategies go beyond indicators by integrating entry, exit, stop-loss, and profit-taking rules. In TradingView, strategies can be backtested across different market conditions, giving traders insight into their performance over time. Strategies are more comprehensive in design, often incorporating multiple indicators, risk management rules, and position sizing.
Pros
Structured Money Management: A well-designed strategy includes money management rules that allow traders to control position size, set stop-loss levels, and adjust for varying market conditions.
Risk Control: Strategies often have mechanisms for handling risk, such as maximum drawdown thresholds, trailing stops, and profit targets. With these, traders are less exposed to catastrophic losses.
Emotional Control: Strategies minimize emotional trading by automating decision-making. With clear, predefined rules, traders can avoid impulsive reactions to market swings.
Cons
Complexity: Developing and optimizing strategies can be complex and time-consuming. Without careful backtesting and optimization, a strategy may underperform in live markets.
Backtesting Limitations: Some strategies look profitable in historical data but may not hold up in real-time. Traders should be cautious of backtesting biases and over-optimizing to fit historical data.
3. Money Management & Risk Control: Indicators vs. Strategies
Indicators: Indicators do not inherently provide money management tools. While they may signal trends or potential entry and exit points, it is up to the trader to set their stop-loss, take-profit levels, and position sizes. This requires a strong sense of discipline and risk management to avoid substantial losses.
Strategies: Strategies, on the other hand, typically include integrated money management. With clear stop-loss and take-profit points, traders can manage risk more effectively. Strategies can also be coded to account for risk-adjusted metrics like the Sharpe Ratio and Sortino Ratio, helping to ensure that returns are balanced against the level of risk taken.
4. Strategies to Avoid on TradingView
When evaluating strategies on TradingView, it’s essential to avoid the following pitfalls:
4.1 Repainting Strategies
Repainting strategies can change historical data when new information is added, leading to inaccurate backtests. They may appear to perform well historically but will give false signals in real-time, which can be detrimental to your trading success.
4.2 Martingale-Based Strategies
Martingale strategies double the position size after a loss in an attempt to recover it on the next trade. While this might seem appealing, it can quickly lead to oversized losses, especially during periods of consecutive losses. Avoid strategies that risk increasing position sizes without limit as these can rapidly drain an account.
4.3 Strategies with High Drawdowns
Strategies with significant historical drawdowns are risky. A high drawdown suggests that the strategy may face considerable periods of loss. Analyzing drawdown in tandem with the Sortino and Sharpe Ratios can help gauge the quality of the strategy’s risk-adjusted returns.
4.4 Strategies without Stop-Losses
Trading without stop-losses is dangerous as it leaves trades vulnerable to catastrophic losses. Reliable strategies should always include some form of a stop-loss to limit potential losses.
4.5 Low Reward-to-Risk Ratios (e.g., 1:1 or 1:2)
Strategies with low reward-to-risk ratios (such as 1:1 or 1:2) are generally ineffective in the long run because they don’t provide sufficient reward relative to the risk taken. Aiming for a reward-to-risk ratio of at least 1:3 or higher can improve long-term profitability.
4.6 Heikin Ashi-Based Strategies for Real-Time Trading
While Heikin Ashi candlesticks are effective for trend visualization, they average out price data, creating delays in signal timing. This can lead to late entries and exits in fast-moving markets, resulting in increased slippage and potentially lower profits in real-time trading.
5. Evaluating a Strategy: Key Metrics
When reviewing or developing a strategy on TradingView, consider these essential metrics to assess its quality:
Sortino Ratio: Measures risk-adjusted returns, focusing on downside volatility. A higher Sortino Ratio indicates that the strategy delivers good returns relative to the risk taken.
Sharpe Ratio: Evaluates the returns relative to the strategy’s total volatility. A higher Sharpe Ratio is preferable, as it suggests consistent returns with manageable risk.
Drawdown: The maximum percentage loss from a strategy’s peak equity value. Low drawdown means the strategy can endure market downturns without excessive loss.
Profit Factor: The ratio of gross profit to gross loss. A profit factor above 1.5 is generally considered good, with higher numbers indicating better performance.
Conclusion
Indicators and strategies each have unique strengths and limitations. Indicators provide signals and insights but lack the comprehensive rules for money management and emotional control that strategies can offer. Strategies, with clear rules for risk management, profit-taking, and stop-losses, help traders manage their accounts with a disciplined approach. Avoid strategies that rely on repainting, Martingale systems, high drawdowns, or low reward-to-risk ratios, and always review metrics like the Sortino Ratio, Sharpe Ratio, and drawdown to ensure sound decision-making. By carefully selecting and fine-tuning strategies in TradingView, traders can enhance their odds of consistent, profitable trading.
#long_btcThe breaking of the very reliable trend line, stabilization on this trend line, for the primary target, the highest ceiling can be set, and for the upper targets, according to the moving legs, up to 80,000 can be targeted.
#BTC #LONG_BTC
BTC is heading forward to unbelievable high records Hello traders and good morning,
As I said before, if you were following my analysis about the BTC and crypto in general, I have given an analysis about the.Bullish strong bullish momentum and said that price is going to reach the $100K very soon if the market of the Bitcoin keeps this strong bullish momentum.The the price ended in a high volatility.And reached an all time high. What we'll see in this month, which is the month before the last month of the year.If that bullish strong bullish momentum is kept well, the price will hit.And the nine $90,000 level and then in the last month, which is December.We will have a historical high level of Bitcoin if the buyers are still keeping that strong bullish momentum and eventually the price will hit.The $100K.Level, which will bea historical.All time high record, so please keep watching the market and.Make sure to.Get benefit of this bullish move and good luck everyone.
Well, talk to you later and good luck.
BTC_[Daily]_Trendline Resistance Broken BTC_ _Trendline Resistance Broken
Price within Parallel Channel (Top)
Correction until channel bottom is possible
Price on the way to reach AB CD target (102,300)
BTCUSD 15 Min Spike & Channel Higher High Based on the recend spike up there is a good chance that the market will form a Channel in the direction of the Spike. A channel covers often the same distance as the Spike and the first pullback should not fall to more than 1/4 of the spike. After such a spike the beginning of the channel often gets testet.
$BTC Fractals toward $100kBitcoin has reached a new all-time high, hitting 79.8k!
Are we seeing a similar pattern to last October’s fractals?
On the 2-hour timeframe, price is holding above the 50 EMA without retracing to the 200 EMA.
If it continues trading above 77k, this could confirm a parabolic move towards 100k.
Bitcoin showing off its PotentialsHey everyone,
I’ve put together this comprehensive BTC market analysis for those eager to understand the likely progression following the recent market surge. This deep dive will cover the full expectations for the extended leg of wave 5, breaking down each subwave for clarity. Let's dive in!
This analysis explores the anticipated trajectory of wave 5 and its complex subwave structure, illustrating each phase in a simple, clear manner.
Starting off, wave 5 itself is composed of multiple subwaves. We can observe that the initial wave under wave 5 (wave (i)) developed within a rising wedge pattern, which is clearly displayed on the chart. After the breakdown from this rising wedge, wave (ii) followed, marking a corrective move. Next, wave (iii) of 5 began, characterized by a bullish flag and pole formation. This bullish momentum aims to drive BTC to a targeted area of around $78K–$80K, which is expected to serve as the completion of wave (iii) of 5. At this level, we anticipate the onset of wave (iv) of 5.
The provided chart is structured to make these movements easy to follow and understand, even if you’re new to Elliott Wave theory. If you’ve been tracking our recent BTC updates, this latest surge should come as no surprise. In fact, some of our prior analyses have accurately predicted this market move. Here are some of the relevant past analyses for reference:
Mid-Term Road Map for Bitcoin: This chart outlines the possible mid-term roadmap for BTC, providing a structured view of the anticipated trend.
BTC’s Broadening Wedge Formation: This analysis simplifies BTC’s recent moves, showcasing a descending broadening wedge formation. Here, I emphasized that BTC is not in a bearish phase, offering insights into the underlying strength of the current trend.
Bitcoin’s Bullish Potential: This final analysis provided an early signal of the impending bull run, highlighting the structure and technical indicators that pointed toward the current bullish momentum.
Each of these analyses has contributed valuable insights into BTC’s recent trajectory, aligning well with the current market performance. We’ll continue to monitor BTC’s movements closely, with an eye on wave (iii) of 5 reaching its final target before transitioning to wave (iv).
Stay tuned, and feel free to share your thoughts on our outlook!
binance spot vs perp & coinbasebinance spot vs perp & coinbase. shows supply / demand considerations for perps & coinbase vs the broader crypto spot market
Short the king Dear Traders,
Btc need to come back down to retest ,
most ppl thinking it will breakout now i see it wil break to the downside to grab liquidity then consolidate.
lets see if it can play
I think W3:83K and W5:102KYesterday's bearish wedge is gone !
I think wave 3 will calm down around 83K.
BTCUSDT 1D TF BTC Bounce Play
The breakout retest suggests that buyers might be stepping back in after taking initial profits. The 0.618 Fibonacci level often acts as a psychological level for traders, where "smart money" considers re-entering positions with favorable risk-to-reward ratios. If BTC holds this level, it could trigger a wave of buying interest from both retail and institutional investors, seeing it as a sign of market resilience.
Additionally, this bounce play could attract short-term traders, capitalizing on potential bullish momentum while swing traders view this as a possible entry point for a longer move up. Should BTC successfully hold and rally from this level, the narrative will shift toward a more bullish outlook, where the next resistance levels become targets, sparking fresh momentum in the market.
BTC/USDT: still bullishhello guys.
as you can see the btc made a wedge and broke it down!
but the target of this short position is not far away!
the main trend still is bullish.
we expect the price will touch upper levels as well
