Bitcoin analysis / UPDATEIn 4 H , according to the orange color trend line, we may have a high according to Dominance Tetra
If it is descending, the green areas will be marked and entered as a step
BTCUST trade ideas
BTC views on spot As it has been disclosed in the chart drawing, it appears BTC to be bearish till support as shown.
1st and 2nd resistance with possible support is well disclosed in the chart drawing.
Lets hope for the best.
The Relative Strength Index (RSI): A Beginner’s GuideThe Relative Strength Index (RSI) is one of the most widely used technical indicators in trading. Developed by J. Welles Wilder in 1978, it helps traders evaluate the momentum of a market and identify overbought or oversold conditions.
What is RSI?
RSI is an oscillator that measures the speed and magnitude of price changes over a specific period, typically 14 periods. It provides a value between 0 and 100, which helps traders gauge whether an asset is overbought or oversold.
Overbought: RSI above 70 suggests the asset might be overbought and due for a correction.
Oversold: RSI below 30 indicates the asset might be oversold and due for a rebound.
The RSI Formula
The RSI is calculated as:
Where:
RS= Average Gain of Up Periods (over the lookback period) / Average Loss of Down Periods (over the lookback period)
How to Interpret RSI
1. Overbought and Oversold Levels:
- When RSI crosses above 70, it may signal that the asset is overbought and could experience a price decline.
- When RSI drops below 30, it may indicate that the asset is oversold and could see a price increase.
2. Divergence:
- Bullish Divergence: When the price makes lower lows, but RSI makes higher lows, it suggests a potential upward reversal.
- Bearish Divergence: When the price makes higher highs, but RSI makes lower highs, it indicates a potential downward reversal.
3. Centerline Crossover:
- RSI crossing above 50 is often viewed as a bullish signal, indicating upward momentum.
- RSI crossing below 50 suggests bearish momentum.
Strengths of RSI
- Versatility: Works well in a variety of markets (stocks, forex, crypto, etc.) and timeframes.
- Simplicity: Easy to interpret for beginners.
- Divergences: Offers insight into potential trend reversals.
Limitations of RSI
- False Signals**: RSI can provide false overbought/oversold signals in strong trending markets.
- Lagging Indicator: Like most indicators, RSI relies on historical data, which may delay signals.
Best Practices for Using RSI
1. Combine with Other Indicators:
- Use RSI with trend-following indicators like Moving Averages or MACD to filter out false signals.
- Pair it with support and resistance levels to validate potential reversals.
2. Adjust the Period:
- Shorten the period (e.g., 7 or 9) for more sensitive signals.
- Lengthen the period (e.g., 20 or 30) for smoother, less frequent signals.
3. Context Matters:
- In a trending market, RSI may remain overbought or oversold for extended periods. Use it cautiously in such conditions.
Example of RSI in Action
Imagine a cryptocurrency like Bitcoin has been rallying for several days, and the RSI rises above 70. This suggests that Bitcoin might be overbought, and a pullback could occur soon. However, if the market trend is strong, Bitcoin’s RSI could stay above 70 for an extended period. Combining RSI with trend analysis or support/resistance levels can provide better insights.
Conclusion
The RSI is a powerful tool for traders seeking to understand market momentum and potential reversal points. While it’s simple to use, its effectiveness increases when combined with other indicators and market context. As always, practice using RSI on historical data before applying it to live trades, and remember that no single indicator guarantees success
$BTC up then sweep ?going up for now and need to see reaction at yellow line
shall flip short IF it deviates back down from yellow line to do a deeper sweep which should give it enough fuel to rally and make a new high
as for alts still hoping dominance made a lower high
nice cross on the rsi below looks to be reset
BTC PUMPOn-chain Analysis: This includes monitoring metrics like wallet balances, transaction volume, and large movements of Bitcoin across exchanges.
BTCUSDT On The way to 120KBTCUSDT, Bitcoin-based cryptocurrency, is currently trading at $97,000.
The target price for BTCUSDT is $120,000, indicating significant growth potential.
This represents a potential gain of over 30%.
The coin's price movement is guided by a support and resistance pattern.
BTCUSDT's growth potential is significant, driven by increasing adoption and demand.
Investors can capitalize on this opportunity for substantial returns.
However, market volatility and risks should be carefully considered.
A well-informed investment decision can help maximize gains and minimize losses.
By monitoring market trends, investors can make informed decisions about BTCUSDT.
Possible bitcoin bullish MovePrice bounces off support, causing a break of structure on the 4TF. price retraces back for a contiuation to the upside. with a break on trendline on the 1hr. possibe bull run to 107k.
bitcoinPrice Action Analysis:
Parallel Channel:
The chart is framed within an ascending parallel channel, which suggests an overall bullish trend. The price appears to respect the channel boundaries with multiple touches on the upper resistance and lower support lines.
The channel shows a clear Elliott Wave structure labeled with (A), (B), and (C) corrections.
Elliott Wave Pattern:
The internal structure of the price action is marked with corrective wave patterns (A)-(B)-(C), reflecting consolidation phases within the uptrend.
The current movement indicates a potential rebound near the lower boundary of the channel, suggesting the price might aim for a recovery towards the midline or upper boundary.
Support and Resistance Levels:
Support: The lower boundary of the channel acts as a key support zone. A recent bounce suggests this support is intact.
Resistance: The upper boundary of the channel is a significant resistance. Breaking above this level may lead to a continuation of the bullish trend.
Indicators:
MACD (Moving Average Convergence Divergence):
The histogram shows diminishing red bars, indicating weakening bearish momentum.
A potential bullish crossover is forming between the MACD and signal lines, which may support upward movement.
RSI (Relative Strength Index):
RSI is hovering around 42.78, indicating the market is neither overbought nor oversold.
A potential uptrend in RSI could signal bullish momentum in the near term.
Projection:
Based on the structure:
If the price respects the channel and completes the current (A)-(B)-(C) wave, the next likely target could be near the midline or upper boundary.
A breakout above the upper resistance may push the price towards new highs.
A breakdown below the lower support of the channel could invalidate the bullish scenario and signal a trend reversal.
Conclusion:
The chart suggests a bullish bias as long as the price remains within the ascending channel.
Traders may watch for confirmations of support at the lower boundary or a breakout above the midline for further upward movement.
Indicators like MACD and RSI provide early signs of bullish momentum but require further confirmation.
BTC - This Christmas is NOT different!Hello TradingView Family, this is Richard, and I want to wish you all a Merry Christmas.
I hope you enjoy this Christmas-themed idea.🎄
💡Can you spot a pattern here?
As shown in my last two Christmas posts (attached to the chart), BTC broke out of consolidation and surged by around 70%.📈
I believe this Christmas will be no different.
For the next bullish wave to begin, a break above the orange zone is needed, which aligns perfectly with the $100,000 round number.
What do you think? Will this Christmas follow the structure of the past two years, or will it be different and lead to a deeper correction⁉️
📚Always follow your trading plan regarding entry, risk management, and trade management.
And Remember: All Strategies Are Good; If Managed Properly!
Merry Christmas Everyone 🎄
~Richard Nasr
BTCUSDTI expect the price to correct to the 89600 range and within this range we will have a return move to the 97000 area or higher.
And I expect Bitcoin to remain limited in this price range for the next few months
Area Long on BTCi Think this move is low risk
cause i thinkk BTC is in a upTrende in higher timeline
BTCUSDT: Safe Zone Vs Risk Zone, Which one would you choose? Dear Traders,
WE have possible buying opportunities, with the first entry, the only reason that we think that price would reverse is, possible end of year bullish push which may take price to another record higher high. Although, since the price already has rejected we think price is unlikely to reject at the level, and may drop to 75k region.
good luck.
BTC IdeaBTC Idea | Hourly
Completion of the AB=CD harmonic pattern and forming bullish divergence hourly timeframe. Need to break 90k levels before make this idea possible.
Look for confirmation before enter.
BTC is doing this todayHey guys
BTC will goes up around 99500$ and immidiately coms back to around 9200$. start taing shot after 99000$.
I dno't know if you belive, but this is 2 year that I haven't ser SL, you know why ? because i go in possintion i 3 steps and each step is less tha 1% of my margin . I will tell you how i I calculate
plase note this table :
no matter how leverage are you set , have not open possition more than of this formoula :
balance : size of position:
1000$ 0.01 BTC
10000$ 0.04 BTC
100000$ 0.1 BTC
be happy
BTC PATH to $103,000, Whats next?BTC path to 103k is evident as i mentioned earlier about the candles earlier. Now follow the small dip i drew and 97500 to 96312 is a huge point of defence for buyers, Earlier i mentioned 90k fall and did exactly to 92ish. If it happens it can reach direct ath of 110k as mentioned above and earlier. Its not a scalp call so mind it
A news will play a vital role here too..
Needs to defend this in coming days or -.. .. .. . .. .. .. .. ..
BTC 3 possible Scenarios Btc has rallied down to touch support which is @ 92,000 it’s a very strong area which is holding price quite good. The way btc rallied down makes traders panic but it’s the way btc move. I’ve been trading btc since 2021 and have seen these type of situation several times there’s nothing to be panic about. And please try to zoom out chart and trade on daily or 4hr tf. BTC respects support and resistance levels of htf.
Trade 1: if BTC holds support @ 92,000 on daily timeframe than Long with target @ 99,000.
Trade 2 : if BTC breaks resistance @ 100,000 than Long with target @ 105,000.
Trade 3 : if BTC breaks Support @ 92,000 than it will go down to touch support @ 75,000.
It’s holiday season so avoid trading.
BTCUSDT.1DThis detailed analysis of the BTC/USDT pair on the daily timeframe aims to evaluate the market's current stance, emphasizing recent price movements, key technical levels, and potential future directions based on technical indicators.
Price Action and Trend:
Bitcoin has shown a significant upward trend over recent weeks, with price movements forming a steady ascent above the long-term supporting trend line. The chart reveals a period of consolidation after a recent rally, potentially indicating preparation for the next movement phase.
Key Levels to Watch:
Resistance Levels (R1 and R2):
R1: $100,295.09 - This level has previously acted as resistance. A breach here could open the path towards R2.
R2: $111,514.08 - As a higher resistance level, a move past this could confirm a more significant bullish trend continuation.
Support Levels (S1 and S2):
S1: $89,585.14 - The first major support level which could be crucial for maintaining the current bullish trend.
S2: An extended support line drawn from previous lows, providing foundational support and a potential rebound zone if S1 breaks.
Technical Indicators:
MACD: The Moving Average Convergence Divergence is bullish, as the MACD line is above the signal line, suggesting continued upward momentum. However, vigilance is necessary as the histogram appears to be reducing, which might indicate a slowdown or potential pullback.
RSI: The Relative Strength Index is currently at 59, suggesting mild bullish momentum without being in the overbought territory. This provides room for potential upward movement without immediate risk of a reversal due to being overbought.
Volume and Market Sentiment:
The recent trading volume corroborates the ongoing bullish sentiment, though it has slightly decreased during the consolidation phase, which is typical as traders await further cues.
Conclusion and Forecast:
The outlook for BTC/USDT remains cautiously optimistic. Traders should watch for a sustained break above R1 to confirm continuation of the bullish trend, potentially targeting R2. Conversely, a breakdown below S1 could see BTC test the stronger S2 level. Trading strategies should consider these levels for setting stop losses and taking profits, keeping in mind the potential for volatility as indicated by the technical indicators.
Trading Strategy:
Bullish Scenario: Entry near S1 with a stop-loss just below this level can be considered, targeting R1 and then R2 if upward momentum continues.
Bearish Reversal: Should the price break below S1, a short position towards S2 could be advantageous, with a strict stop-loss above S1 to mitigate risks.
Summary:
This analysis indicates that while the current sentiment and momentum are bullish for Bitcoin, traders should remain flexible and responsive to changes signaled by key technical levels and indicators.
DAY 2 - Daily BTC Update Yesterday's Update
I’ve dropped the chart to a daily timeframe to analyse signals that upward momentum could return. Here's what I’m seeing:
STOCH RSI: The indicator is nearing a cross, historically pointing to a potential bounce.
0.236 Fibonacci Level: The current candle at this level is a Dragonfly Doji, which, if confirmed by the next few candles, is often a signal for reversal.
Many of you have asked why markets dipped despite the 25bps rate cut. Here’s the insight:
Federal Reserve Outlook: The Fed has signalled fewer rate cuts in 2025, tempering market enthusiasm and creating uncertainty in risk assets, including Bitcoin.
BTC Exchange Net Outflows: Over the past 24 hours, 4,169 BTC have been removed from exchanges, continuing a two-day streak of net outflows. This suggests a decreasing supply of Bitcoin on exchanges, a possible sign that holders are moving assets to cold storage or other off-exchange wallets, signalling confidence in holding for the longer term.
Supply and Demand in Bitcoin
Understanding supply and demand is crucial for interpreting Bitcoin’s price movements:
Supply: When the supply of Bitcoin on exchanges decreases, as we’re seeing now, it often indicates that fewer people are willing to sell. Holders moving BTC to cold storage or off-exchange wallets typically signal confidence in Bitcoin’s future value and reduce the immediate availability for trading.
Demand: If demand for Bitcoin remains constant or increases while supply decreases, basic economic principles suggest that prices will likely rise. Conversely, if demand weakens while supply remains limited, the price can stagnate or fall.
Right now, the net outflows from exchanges suggest supply is tightening, setting the stage for potential upward price pressure if demand increases. Now we need to watch and wait for a TETHER print that often happens with increased demand.
Please give me a like if this has helped and see you again tomorrow :)
BITCOIN BUY ZONEBTC is still bullish with a potential take profit on correction, on technical the weekly candle broken supply roof is keeping buyers on demand , a break of that support /demand floor will see price come to 84k-83k zone with a capacity for double confluence at that zone for a buy ,
watch the box zone for potential buy entry.
Bitcoin will reach the $500,000 level if Trump remains aliveBitcoin will hit the $500,000 level during Trump's presidency. Trump has a clever strategy to revive the U.S. economy by shifting the burden of the dollar’s debt to cryptocurrencies and gradually distributing it through stablecoins like Tether and similar ones. This initiative gives the U.S. Treasury the ability to move unbacked dollars into the cryptocurrency network, indirectly transferring U.S. economic inflation to the global economy. As a result, the $36 trillion U.S. debt could be lifted off the shoulders of American citizens and distributed across the entire world.
Only two factors could halt Bitcoin's rise to the $500,000 level.
1.The assassination of Trump, which is more likely than the assassination of John F. Kennedy.
2.A serious shock to economic foundations, such as the outbreak of a pandemic like COVID-19, or other severe shock-inducing actions targeting the foundations of the global economy with a comparable level of destruction.
If these two threats do not arise, the cryptocurrency market, with the policies Trump has in place, could easily move from $3 trillion toward $36 trillion.
BITCOIN is going to Go to 104k and higher.
shown in the image you Expect a Huge Reversal it should rise as fast as it fell. I see game being played in the market and this was a Giant Bear Trap. 104k is the Target BTC was in the Asending channle, the chat is inverted.
$BTC - Crucial Level We got a nice absorption into 92k, price rebounded with bullish flows in equities this brought back the passive buyer behind price.
So far, we're holding 96k during the weekend, however, weekly close will be a tell-tell as we need to get above m_rvwap
We're now rejecting at 98.5k and if we can't get above our m_rvwap , higher chance we'll slow bleed until 88k to 86k.
98.5k is a crucial level to reclaim in the short term, else, will consider this as bearish retest.
