$BTC good long term case BUT where does support form?Long term BULL + Short term BEAR case
CRYPTOCAP:BTC is once again making a case for BULLS, at least short term.
We'll see what happens.
The 4Hr RSI getting stronger & can be seen on daily charts.
Longer term #BTC is making a GREAT case for bulls. But can take some time.
However, don't be naive. The current area is not the best place for #bitcoin to build a SUPPORT level, 25k much better.
BUT, it can, of course.
These are support levels for CRYPTOCAP:BTC to build upon.
For BULLS, 25k is BEST. However, it doesn't kill cause if it goes lower.
23.5k can be satisfied by the trend line.
Gap top is 21k & the Gap bottom is 20k.
Don't think the SUPER LONG TREND is in play, white lines, but who knows.
BMC1! trade ideas
Projections into the future...Elliot Wave Count and FibonacciA rough idea of what *could* play out over the next few years..
I see 2 scenarios in the near-term, first being this fractal
OR, roughly what I've outlined in the chart here.. this would make sense to me, grabbing liquidity at inefficient zones (gaps) above and below, shaking out weaker hands, before moving higher and beginning a new bull run..
BTC - 1d. GAPBroke an important trend line on 1d and formed a gap.
In technical analysis, there are different options for price gaps and their interpretation is different.
In this case, it hit an important trend line.
As a rule, these appear during the market reversal.
For a further significant price increase, it is necessary to fix back above the trend line and close the gap.
While we are trading lower, the priority is to decrease.
The next important support is MA200 and - 0.5 fibo level ~ 23690.
Reviews, ideas and deals - I publish at the link below.
BTC1! on 30 min. Double BottomOn 30 min there is a Double Bottom for BTC at this time.
"DOUBLE BOTTOMS"
A double bottom pattern is a technical analysis charting pattern that characterizes a major change in a market trend, from down to up.
Notably there is also a gap fill as seen on the chart.
I am expecting 2024 to be a good year for BTC imo. We'll see!
What are your thoughts?
Thanks,
Kelly
Cryptocurrency Analysis: Insights from the World of Cryptos
👋 Hello, esteemed cryptocurrency enthusiasts! Today, I want to share observations from the world of cryptocurrencies, specifically focusing on BTC. Recently, a notable event occurred on our chart: an open Gap at the level of 27400. It's crucial to highlight all open gaps on the chart, as they can influence the future dynamics of price movement.
Regarding the last 10 daily candles marked in red, this is an intriguing phenomenon that may indicate a certain pattern. It's important for us to delve into past similar situations and attempt to comprehend the implications behind these red candles.
Been saying $BTC is NOT the same anymore, before InstitutionsBULLISH CRYPTOCAP:ETH #ETF!
However, #ETH didn't do much
CRYPTOCAP:BTC pre-halving = BULLISH!
Please.......
The truth is whatever happens to #BTC will happen without any of previous data. Why doesn't it trade well during weekends? Because LEVERAGE & financial instruments dictate price action.
Been saying this for 2 years, maybe more. Not sure how much proof have to keep posting. lol
#BITCOIN is NO LONGER the same animal. Why? The institutions in. People wanted this, but didn't know what the result would be.
This is why we use Futures data vs spot.
#crypto
$BTC not painting a bullish picture atm, but darkest before dawnGOOD MORNING!
While we don't expect the CRYPTOCAP:BTC downside to end here, we are expecting some sort of bounce. However, time is running out.
Interesting that #BTC swings are getting wider.
See the higher high recently but retesting the support level (thick green line)
This has been a HISTORICAL area for #bitcoin. Break downs and break outs.
Furthermore:
MACD looks like trash
RSI is okay
C $ Flow so so
Under all Moving Avgs
#crypto
TWO GAPS to FILL. Which one comes first?Traders,
Our CME BTC Futures chart now shows (2) two gaps to fill. We know that over 90% of all gaps are eventually filled. Usually, this occurs sooner rather than later. The big question is which one of these gaps will be filled first if we assume they will both be filled? Post your best guess in the comments below.
The other thing I am looking at on this chart is a possible retest of our previous channel. Previously, the top of this channel acted as resistance. The market likes to come back and test previous resistance as support. Will it do so this time as well?
Stay tuned,
Stew
BTC CME Futures Price Gap - August 17BTC CME Futures Chart, Hourly, 1:00 PM EST, 5:00 PM UTC
There's a bit of a unique setup on the lower-mid term timeframes for BTC. Yesterday's sell-off occurred between 5-6 PM EST, which coincided with a 1 hour break in the CME futures market. Contrary to popular belief, the CME Futures exchange actually does not operate 24/5, but actually 23/5 with a 1 hour session break.
"CME Globex:
Sunday - Friday 5:00 p.m. - 4:00 p.m Central Time (CT) with a 60-minute break each day beginning at 4:00 p.m. CT"
As the sell-off in the spot market occurred during the break in the CME futures session, there is coincidentally now a price gap to fill between $27000-27540 region. This would be an attractive area for short traders to re-enter the market if we do have a relief bounce in the coming days.
One could set conditional market orders to go short if price enters this region. As a reminder, always utilize proper risk management.
$BTC can retest, has history of retesting lowsDon't forget that the 2019 CRYPTOCAP:BTC bottom was "retested" a year later in 2020.
#BTC estimates for the lows at that time.
2019 low = 3100
2020 low = 4300
See that beautiful inverse head & shoulder back then?
Didn't break out until LATE 2020.
#bitcoin gap fill would coincide perfectly with a retest this year or 2024.
BITCOIN ROADMAP — HEAVEN AND HELLHeaven can be cold
Baby, baby, when you lose control
Everybody needs someone 🅱
Be careful in the night
He can hurt you more
Baby, baby, as he did before
Come on baby, keep your hands of him
In the gypsy night 😘
It will come and go
Everybody knows
You make your own
Heaven and hell 💔
Daytime traders love for sale
You make your own
Heaven and hell
Statements full of tears will tell 😭
He takes your heart
I know him well
You've got no time to lose
For heaven and hell 🎉
Behind the painted smile
Baby, baby, he is running wild
Everybody needs some love tonight
Be careful in the night 🥳
This publication is to introduce with BTC roadmap, unforeseen rocks and climbs.
// Look first. Then leap!
BTC Bearish engulfing and divergence. Friday close imo is the most important close of the week along with the Monday open.
Why is this a case Friday lines up with big picture ideas that form market structure such as.
-major support/resistance
-key weekly close pivot points
-risk off limit over night/weekend exposure
-weekly rebalance
CME trade a 5 day chart as opposed the BTC 24/7 trading on the open market, traders that trade on CME futures traditionally have higher technical trading knowledge and greater funded accounts than retail.
I have notice bearish divergence on the POC from binance opposed to CME charts this could be due to 24/7 trading on binance and their wash trading algo's and as the overall trend is still positive trading over the weekend and into Monday open I see the above as bearish momentum and I'll be going against the trend until the POC is reclaimed.
trade in validation 31200, this is a key area to go long for new high's break outs
target 27900 as this is a key value area
Possible BTC CME Gap Fill and Fib Level RetestThe chart says it all, BTC might decide to give max pain to the bears who are thinking that the 30k resistance will hold. In my opinion, the 35k zone is more important because it would be the retest of Bitcoin's previous bear market consolidation area and the first meaningful fib level retest. I still remain bearish in the big picture like in my previous post made when BTC was above 60k and personally believe that lower lows will come after this impulsive move to the upside. My 15k target for the previous move was hit to the T, and I believe that the next downtrend will go below that area if the bear market has not ended. 9k is the level I am looking at the most.
However, I do currently have a small long position for this potential short-term bullish move.
Bitcoin Falling! Read for Entry!!CME:BTC1!
CRYPTOCAP:BTC has followed my analysis from a while back.
Yesterday I cautioned traders to watch for the Bearish Retest.
Congratulations to those that played this ... 18.23% down and in profit!
At 25.2k zone, my thought are looking for a fakeout to long back to 31.8K.
200 Daily is potential support at 25.2k.
If this does not happen then short ideas are to ~21.4k and ~19.7k zones.
Don't panic that you have missed any move. Prepare now with Plan A Plan B scenarios as I always point out.