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BTCUSDT trade ideas

BTC New ATH EnvironmentEven though price convincingly closed above the ATH with a 1D CC, because it's a Monthly level (March 2024 ATH = level) you have to remain sceptic: it's all about the 1M CC; a LTF setup will determine the closure of the November 1M candle. If price goes down first (low probably inbetween two dashed lines) then it's probably a free bull run. If price however goes back to the highest high and afterwards falls below this structure (blue line) then it's probably a short. Price could also pump and stay above the current highest high, then it's probably also a bull run.
by EyyJasper
Bitcoin Buy Signal: Exciting Entry Opportunity in the Correction🕒 Timeframe: 1-Hour 📉 Pattern Completed: Five-Wave Upward Pattern 🔄 Current Phase: Corrective Three-Wave Pattern with Wedge Breakdown 📊 Analysis Summary: In the 1-hour timeframe, Bitcoin has completed a five-wave upward pattern, indicating a strong bullish trend that has now transitioned into a correction phase. This three-wave corrective move, confirmed by a breakdown of the wedge pattern, often presents a profitable buying opportunity for those who anticipate a subsequent rally. 💰 Key Support Levels for Buy Entry: 📍 $74,400 — First strong support level where buyers may look for reversal signals 📍 $71,600 — Major support zone that could provide a more secure entry point These key levels have a high probability of igniting a reversal, potentially leading to a robust upward move. For traders looking to enter, these points offer attractive risk-to-reward setups. 📈 Forecast: Based on current technical patterns and market sentiment, Bitcoin has the potential to reach a new peak by the end of 2024. This market setup is a rare and valuable opportunity for those looking to capitalize on the anticipated bullish momentum. 🚀 Don't miss out on this exceptional opportunity to ride the next wave! 🌟
Long
by arzdigitalistha
Bitcoin Approaching Key Resistance—Watch for Breakout / PullbackSince the last analysis, Bitcoin has respected the Crucial Support Zones and is now approaching a pivotal point at the Descending Resistance trendline. We’ve seen a bounce off the support zones, particularly the 1W BISI, which has held firm, and the next move will be decisive as BTC approaches the U.S. Election timeline in early November. Key Developments: Bitcoin is approaching the Descending Resistance, with a potential breakout signaling a move towards 76K and beyond. The 1W BISI (one-week bullish imbalance support) has acted as a strong foundation for this current price action, making the upcoming resistance test a crucial moment. The RSI is sitting comfortably above 55, showing momentum building up in favor of the bulls. Strategy Update: Swing Traders: Look for confirmation of the breakout above the descending resistance. If price holds and closes above this level, a run toward 76K and 80K becomes highly probable. Scalpers: Stay cautious around the resistance zone. If Bitcoin fails to break out convincingly, a short-term pullback to retest the 1W BISI could provide shorting opportunities. Key Levels: Resistance: The Descending Resistance trendline is your key point for watching breakout potential. If BTC breaches this level, expect a rally to 72K and 74K. Support: The 1W BISI and Crucial Support Zone 1 (around 64K) will act as strong support levels in case of any short-term corrections. ------ This setup remains crucial as the U.S. Election date approaches, a point that may trigger increased volatility across markets. Keep your risk management tight and stay flexible as the market prepares for its next major move.
by MadeByAK
Patterns of Emotional Wallet DestructionHello Monstralians, The chart highlights three distinct patterns that reveal common emotional responses among traders and investors. A clear parallel can be drawn between these patterns and the behavior marked by the Greed and Fear Index, which shows similar levels of sentiment across the board. Currently, there's a noticeable sense of boredom and lack of motivation for investment in the market. Long-term investments are dwindling as participants increasingly question the credibility of the crypto market . This growing skepticism is also leading to a loss of hope in altcoins. Some traders, facing small losses, are selling off their assets in anticipation of even lower prices. Meanwhile, others are turning to futures trading with high leverage , hoping to profit from the market's low volatility. However, this range-bound market is causing many traders to make significant mistakes, often neglecting proper money management practices in the process. Despite all the negativity , the TA tells me that this is a bullish pattern and the target is 80k.
Long
by Monstralian
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