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BTCUSDT - UniverseMetta - Analysis#BTCUSDT - UniverseMetta - Analysis A correction of more than 6% has formed on D1, to a local support level, which may indicate a retest of this level, before going up, it is worth considering news factors in the near future, so as not to increase risks. You can try to work out a retest of the level, with a short stop loss, in order to avoid further corrective movement to the levels to update ATH. In the best case scenario, you can take a profit of 1:7. If the idea does not materialize, then wait for an additional entry point for purchases. Target: 70600 - 76550
Long
by Trade-U-Metta
Bitcoin will have correction before the next Bull RunBitcoin managed to rise to around $73,660 yesterday, close to its previous all-time high. However, it couldn’t sustain above this resistance level, as heavy sell orders in that zone prevented the creation of a new high. As shown on the chart, after Bitcoin's recent rise, we’re seeing a negative divergence, which could indicate an increase in selling positions. The first support level for Bitcoin is in the range of $71,095 to $71,450, and it's highly likely that this support zone will be tested before any attempt to retest the previous high. This support level can determine the next direction of price movement. If this support is lost, selling pressure could increase, potentially pushing Bitcoin towards the $70,000 level. However, a bounce from this support could prepare Bitcoin for another attempt at the $73,660 range. Remember, Bitcoin is in an uptrend, and each support level can serve as a good entry point for new buy positions. Therefore, as long as Bitcoin remains in an uptrend, reactions to support levels should be closely monitored.
Short
by bizamooz-com
BTC Short SignalThis chart shows Bitcoin to USDT (BTC/USDT) on the daily timeframe (1D), displaying a bearish scenario. In this analysis, a strong resistance zone (grey box on top) is identified, where the price has repeatedly failed to break through. Uptrend Line (dotted white line) appears to be on the verge of breaking, indicating weakening buyer momentum. Given the strong resistance and the recent rejection from this level, there is a high probability of the uptrend line breaking. The expected scenario is that after breaking this trendline and retesting the red zone as a new resistance, the price will start a strong downward move towards the lower support zone (grey box below). The final target for this analysis is around $53,000, which is a key support level. This analysis assumes that buyers are losing control at these high levels, and there’s a likelihood of a pullback to the lower support level.
Short
by aminsmithfx
Bitcoin Faces Critical Week Amid US Presidential ElectionBitcoin ( CRYPTOCAP:BTC ) is at a pivotal moment, with the cryptocurrency market bracing for heightened volatility as the United States approaches a historic election. The impact of this key event, combined with a possible Federal Open Market Committee (FOMC) interest rate cut, is set to make waves across digital asset markets. At the time of writing, CRYPTOCAP:BTC is trading at $68,749.84, up 0.62% over the last 24 hours, with a daily trading volume of $35 billion and a market cap surpassing $1.35 trillion. Elevated Volatility Expected Traders are bracing for sharp moves in CRYPTOCAP:BTC , as indicated by a 30-day gauge of implied volatility developed by CF Benchmarks. Caroline Mauron, co-founder of Orbit Markets, highlighted a potential swing of 8%, starkly contrasting the usual 2% fluctuation level. This suggests traders are preparing for significant market action, and expectations of volatility are reflected in the crypto options market. Political Uncertainty Looms Large The 2024 US presidential election adds another layer of unpredictability. Both frontrunners, Donald Trump and Kamala Harris, have expressed distinct stances on cryptocurrency and blockchain technology, setting the stage for shifts in market sentiment. Trump has boldly positioned himself as the "Crypto President," promising to elevate Bitcoin as a strategic reserve for the United States. His strong pro-Bitcoin rhetoric, coupled with a pledge to fire SEC Chair Gary Gensler—widely seen by the crypto community as an adversary—has fueled optimism among investors. Meanwhile, Kamala Harris's emphasis on tech innovation has kept speculation alive about how her policies might influence the crypto market. The political landscape’s close ties to the crypto industry could be pivotal, especially with the backdrop of regulatory debates involving the SEC and CFTC. Historical Trends and Market Sentiment Historically, Bitcoin’s performance has been closely linked to major political and economic events. Notably, the cryptocurrency has often rallied following US presidential elections, mirroring trends seen in traditional markets like the S&P 500. The Kobeissi Letter's analysis of past elections reveals that 83% of election years have yielded positive returns leading up to Election Day. However, these gains moderated post-election, emphasizing the importance of timing in market strategy. Technical Outlook: Mixed Signals From a technical perspective, Bitcoin’s charts reveal mixed but potentially bullish signals. Two critical patterns are forming on the daily chart: 1. Doji Candlestick Pattern: The emergence of a Doji pattern, which indicates indecision among traders, often precedes significant market moves or trend reversals. This formation suggests that market participants are awaiting key news, such as the election results and the FOMC decision, before committing to a direction. 2. Golden Cross Formation: The market is closely monitoring a potential Golden Cross, a bullish indicator that occurs when the 50-day moving average crosses above the 200-day moving average. While this pattern has yet to fully materialize, it is gradually building momentum, signaling possible upside in the coming weeks. Bitcoin’s Dominance and Macro Environment Bitcoin’s dominance remains robust at 59.2%, a testament to its evolution from a peer-to-peer (P2P) technology to a global financial asset. Amid ongoing concerns about inflation and economic uncertainty, CRYPTOCAP:BTC continues to be seen as a hedge against traditional financial risks. The potential for a 25-basis-point rate cut by the Federal Reserve this week could further boost bullish sentiment for Bitcoin, making it an attractive asset for risk-on investors. Long-Term Optimism Despite Short-Term Concerns Despite near-term worries about a potential market dip or crash on election day, long-term optimism prevails. Analysts are betting on a strong rebound, with Bitcoin potentially setting a new all-time high if bullish catalysts align. The overall crypto market remains in a consolidation phase, but any positive momentum in Bitcoin could see a cascade effect on top altcoins, setting the stage for a robust market recovery.
Long
by DEXWireNews
Happy ATH yes, BTC(USDT) reached the all time on 29th october. Why everyone is so excited ? Not for the monetary positive results, but for the meaning underneath. We, the blockchain enthusiasts and crypto world. The world is oing against us, but we responds well. I am aware of the strong impact that ETFs, CBDC and institutional entites are playing in the last months, all over the world. Europe has changed course, keeping a classical conservative position and restrict cryptos transaction and adoption, and apply illogical taxation. The US is pormoting the new financial world, but in a election context, everything which permits vote to growth is a good investments, what will happen when the new president will be elected is still a question mark. On the other side of the world, governments have adopted a proactive position, giving signs for a wider adoption and a favorable law condiction to permit a wider knowledge diffusion. The main concern to me is that few countries are already leading campaing and informative promotions to spread the knowledge about the whole topic, which is something people, especially the future generations, must to know. And we will find ourselves in a condiction of huge disparitive and informative asymmetry that will led to a economic deficit both under a systematic and financial side. So this All Time High has an important weight in the today economic and financial landscape, beside the simple monetary result. What's next? Let's analysise in the following chart idea. Your M-
by itsmcasalinii
Impact of U.S. Elections on #Bitcoin :🪙 Impact of U.S. Elections on #Bitcoin : The U.S. elections add anticipation and tension to #Bitcoin and crypto markets, but they’re not the only factor. Regardless of the winner, the timing of the elections keeps traders closely watching the market, increasing the chances of significant moves. Summary: Election timing adds momentum to the market, but crypto tends to rise over time. Whether it’s Trump or Harris, the upward trend remains possible due to liquidity and continuous trading #US_Elections
Long
by VIPROSE
$BTC UPDATE: breakthrough confirmation, finally!CRYPTOCAP:BTC has finally broken out of its descending wedge channel! I’ve seen people claim otherwise, but they’re wrong! Both the daily and hourly charts confirm the breakout, and CRYPTOCAP:BTC is now sitting above the descending trendline, using it as support. What’s next? The most likely scenario is a correction to around $65.5k before a push to $71k. A new rising wedge pattern has formed, and we’re currently at the top, which is acting as resistance. The MACD is also hitting a top resistance level, and the RSI is at 63, signaling it's overbought and needs to reset. There’s also an RSI bearish divergence on the daily timeframe that needs to play out. All these factors point to a small pullback, reintegration into the rising channel at $65.5k, followed by a breakout and consolidation around $70k. However, another scenario could unfold. With Trump almost certain to win the election, investors may already be positioning for a pump. This could cause an anomaly, pushing CRYPTOCAP:BTC directly to $71k without consolidation, driven by FOMO. In this case, we’d see a pump to $71k and then consolidation between FWB:65K and $71k until the MACD and RSI reset lower. Let’s see how it plays out—Sunday afternoon should set the tone for the week ahead.
by CryptoNikkoid
10
BULLISH TREND IN PLAY ⟶ WILL BITCOIN HIT $82,463?Hello, everyone! 😊 Hope you're all doing well. Let’s dive into the key points of the #BITCOIN analysis 🔍. In yesterday's #BITCOIN post, I discussed two scenarios for growth. The second scenario—uninterrupted growth if the candle closes above 69,280 in the 1-hour timeframe—played out, and after confirming this scenario, we saw about a 3% sharp growth 📈. I hope you caught the previous analysis on time! #BITCOIN started its growth from the top of its weekly bearish channel (mentioned in previous posts) in a Double-Bottom Pattern within the 1-hour timeframe 📊. Based on the potential for a top divergence in the daily timeframe (using the MACD indicator), we should draw a trendline to confirm the final growth that validates the Double Bottom Pattern 📝. This trendline serves as the boundary between bullish and bearish trends. As long as the price remains above this trendline in the 1-hour timeframe, priority goes to growth toward the following targets: **Target 1**: 71,859.93 - 72,088.90 🎯 **Target 2**: 74,742.20 🚀 **Target 3**: 82,463.58 🌟 Any drop will be temporary, ultimately concluding at this trendline, after which we would re-enter a bullish trend (follow the dashed line path on the chart) 🔄. If this bull-trend-line is broken to the downside in the 1-hour timeframe, the trend will shift from bullish to bearish in the short term ⚠️. In that case, we’d see a drop toward the targets of 67,600.41, 65,681.29, and finally 63,340.89 📉.
Long
by Eldorado_Land
Halloween Horror: Avoiding Common Trading MistakesAs Halloween approaches, it’s the perfect time to reflect on the common “frights” that can scare traders away from success. Just like ghosts and ghouls lurking in the shadows, trading mistakes can be sneaky and unexpected. This post will highlight some of the most common trading mistakes, drawing parallels with Halloween themes, and provide strategies for avoiding these pitfalls. 🎃Fear of Missing Out (FOMO) Many traders experience FOMO, which can lead to impulsive decisions, such as chasing after rapidly rising stocks or jumping into trades without proper analysis. This behavior often results in buying at peak prices and facing losses when the stock inevitably corrects. Set Clear Entry and Exit Points: Establish specific criteria for entering and exiting trades to avoid emotional decisions. Stick to Your Plan: Have a trading plan that includes risk management strategies. Review your plan regularly, especially in volatile market conditions. 👻 Overtrading In an attempt to capitalize on every opportunity, some traders overtrade, leading to excessive fees, emotional fatigue, and ultimately poorer performance. Overtrading can resemble a Halloween party gone wild, with too many participants causing chaos. Limit Your Trades: Set a maximum number of trades per week or month. Focus on quality over quantity. Take Breaks: Allow yourself time away from the screen to recharge and refocus. This helps in making more rational decisions. 🕷️Ignoring Risk Management Trading without proper risk management is akin to wandering through a haunted house without a flashlight. You’re likely to encounter unexpected dangers. Failing to set stop-loss orders or to size positions appropriately can lead to catastrophic losses. Implement Stop-Loss Orders: Set stop-loss orders at a predetermined level to limit potential losses. Diversify Your Portfolio: Spread your investments across different asset classes and sectors to mitigate risk. 👺 Emotional Trading Trading decisions driven by emotions such as fear, greed, or panic can lead to disastrous results. Emotional trading is like letting a ghost dictate your path through a dark forest—it's unpredictable and often leads to mistakes. Keep a Trading Journal: Document your trades, including the reasoning behind them and your emotional state at the time. This will help you identify patterns and triggers in your decision-making process. Practice Mindfulness: Incorporate techniques like meditation or deep breathing to remain calm and focused during trading hours. 🦇Neglecting Research and Analysis Many traders skip the crucial step of research and analysis, relying instead on tips or rumors—much like believing in urban legends without questioning their validity. This can lead to uninformed trades and unexpected losses. Conduct Thorough Analysis: Use both technical and fundamental analysis to make informed trading decisions. Stay updated on market news and trends. Leverage Trading Tools: Utilize platforms like TradingView to access charts, indicators, and community insights. [b 🕸️Chasing Losses After experiencing losses, some traders attempt to "revenge trade," trying to quickly recover their losses by taking high-risk trades. This often results in deeper losses and a vicious cycle of frustration. Accept Losses as Part of Trading: Understand that losses are inevitable. Learn from them rather than trying to immediately recover. Take a Step Back: If you find yourself in a negative trading streak, consider taking a break to reassess your strategies and mental state. 👽 Not Adapting to Market Conditions The market is constantly changing, and clinging to outdated strategies can be dangerous. This is similar to wearing the same costume year after year—eventually, it becomes stale and ineffective. Stay Flexible: Be willing to adapt your trading strategies based on current market conditions. Regularly review and refine your approach. Educate Yourself: Continuously seek knowledge through courses, webinars, and market analysis to stay informed about new trends and strategies. As the Halloween season creeps in, it’s time to face the spooky realities of trading! By identifying and confronting common trading frights, you can transform potential pitfalls into stepping stones for success. Remember, every trader encounters challenges, but preparation, discipline, and continuous learning are your best defenses against the ghouls of the market. So, this Halloween, don’t let fear haunt your trading journey. Embrace the tricks of the trade, sharpen your skills, and turn those frights into fruitful opportunities! Here’s to a successful and spooktacular trading experience!🎃👻🕸️
Education
by HexaTrades
Bitcoin: A Bullish Flag? Altcoins, The Merge & 40KThe hammer as a candlestick pattern always works as a reversal signal, regardless if it comes at resistance or support. Bitcoin is moving within a broadening channel, doesn't look like a we have a bull flag on the chart. Each trendline shows three reactions based on candle wick. No sessions are ignored. No candles crossed. Perfect drawing of the pattern and you fail to see a flag. A hammer showed up on the 1-April session and this led to a drop. This happened after several weeks of bullish action, the situation is similar today. After the 5-Aug. session, we have 11 candles (11 weeks) and Bitcoin continues to trade below the high that produced the 5-Aug. low, 70K. These are bearish signals pointing toward lower prices, nothing changes so far based on TA. ➖ Will Bitcoin move down or will Bitcoin grow? Short-term, the chart is pointing down based on the signals mentioned above. If Bitcoin can move and close weekly above 70,000-71,000, everything changes from a TA perspective because we would be looking at a higher high. Right now, the bearish potential remains intact because have a long-term sequence of lower highs. There is also a long-term sequence of lower lows. Let's say Bitcoin drops but recovers before hitting 49K and moves to 72K. This would produce a higher low and the chart conditions change. But if instead, Bitcoin drops and hit 42K, we have a new lower low and unless Bitcoin moves back above the last high, which in this case would be 69,500 (21-Oct.), we would then remain alert for a new lower low. This is how we look at Bitcoin through a chart, but there is more. We have many Altcoins, thousands, and many move and produce the same patterns as Bitcoin but not at the exact same time. Some move ahead of Bitcoin, others lag behind. Since they always do the same, we just need to spot those that moved ahead and use these Altcoins to predict where Bitcoin is headed next. One great example is the Ethereum merge. ETHUSDT is trading at the same level at which it traded back in February 2024. For Bitcoin, this would mean a price below 49,000, around 44,444. Thanks a lot for your support. This wouldn't be the end though. Ethereum moved ahead, if Bitcoin moves down to match Ethereum, Ethereum can move to produce the next step. If ETHUSDT continues to crashes and reaches the same level it traded back in October and September 2023, you know what that would mean for Bitcoin? You can also consider Cardano and smaller pairs, they produce the exact same patterns but being smaller, these moved ahead. While Bitcoin and some of the giants peaked in March, some of these pairs peaked in January others even in December and November 2023, but the bigger chart structure is the same. I am very curious and interested in knowing, do you think Bitcoin will move to 100K before moving lower? If yes, when? Do you think it will take weeks or months? If no, how long do you think it will take before the next major drop? Leave a comment with your opinion, it is very important, it is needed to gauge the market sentiment and what experienced traders know. Feel free to boost if you enjoy the content. Thanks a lot for your continued support. Namaste.
Short
by AlanSantana
2
A bit more upside for BitcoinHi traders, It looks like the wavecount for the extended wave 5 (red) is invalidated. So I go with the analysis of an ending (or leading) diagonal. Last week Bitcoin started a correction down (wave 4 orange). This looks like a triangle is in the making. So after the finish of the correction down we could see another upmove for wave 5 (orange). Let's see what the market does and react. Trade idea: Wait for the bigger correction down to finish (ideally into the Daily FVG), a change in orderflow to bullish again and after a small correction down on a lower timeframe you could trade longs. If you want to learn more about my analysis, please make sure to follow me, give a like and respectful comment. This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals. Don't be emotional, just trade! Eduwave
Long
by EduwaveTrading
1
10/27/2024 Bitcoin Idea. It will go down...For now, I believe that the downward ABC is still ongoing. Currently, we are seeing a rise within the B wave of the Green ABC correction. RED ABC- I expect the "Red ABC" to either form a triangle or a flat ABC. If it turns out to be a flat ABC, it would actually be more convenient for trading since the stop-loss would be much shorter. If we enter a position around 69,000 which is end of "Red ABC correction", we can set a simple stop-loss at around the previous high of 69,500 and aim for a take-profit at least around 64,700. This would make for a very favorable risk-to-reward trade. However, since the chart isn’t fully formed yet, we should wait and see.
Short
by hcinteractivegames
6
BTC expectation (1W 1D 1H) (Support & Resistance, Trend) In my previous post on BTC, I viewed the current downtrend as a temporary pullback before the USD presidential election. We now have limited time left before the election and the upcoming week is going to be very important. Although the election takes place on the 4th, results may take several days, with the vote-counting pace varying state to state. This might lead to significant volatility during this period. I do technical analysis but I also respect the fundamental analysis - we cannot overlook events like the election outcome. ✔ The price remains above the resistance line of the weekly downtrend, giving us expectation of a continued uptrend. ✔ In the hourly chart, I expected the pullback to reach as low as 67.3k where the purple arrow points. The pullback was not as aggressive as it could've been so we unfortunately missed that opportunity. 69.3k line has been resilient for the last few days but eventually failed to hold the pullback longer. The price is currently in the 68 - 69k zone which is crucial. 💡 I think there are 5 scenarios we can expect: 1. The price may move up again from here with 68 - 69k zone acting as a support zone. The aggressive dip did stop as soon as it reached 68k. However, I find this approach risky because it's just an assumption based on the zone - price does not always respect key zones & levels. While more price actions in the past indicate the higher chances it might, but it is never a guarantee. (If it was, we would all be a billionaire.) We should always react rather than predict and only trade when we see a confirmation. And even then, there's always a chance of still being wrong. 2. The price may dip further down to 67.2 - 67.3k, which in my opinion, is much more reliable level than 68 - 69k. This level aligns with the resistance line of the weekly downtrend. If we can confirm a reversal here, I think it would make a great sign of a bull run. If it does not, however, probability of an uptrend drops significantly. 3. The price may react around 67.3k (if it ever reaches it), but might end up continue dropping to 65.3k. While a reversal here could be a good entry opportunity, it would be less reliable than the previous one. 4. This is our last chance to hope for a reversal. If we confirm a reversal in 63.1k, we might enter for LONG. However, if the price ever drops to this level, I wouldn't put much hope. 5. This is the last scenario - unlike the above four, this one is scenario of BTC failing to keep up the uptrend and switching back to the downtrend. If the price reaches below the last trendline, likelihood of it reversing becomes very low. ✔ Conclusion So what is the best scenario among the five for us? In my opinion, it is scenario 2 because it proves that the resistance line of the weekly downtrend now acts as a support. This trend line is more important than any other lines in the chart. If the price falls below this line, our chance of seeing an uptrend becomes lower. I am not saying it becomes impossible because there's never a 100% guarantee in this market - but the chances are so low and risks are too high that I wouldn't bet on it as a disciplined trader. We should always stay disciplined and manage risks. Few successful gambles may give you a temporal gain, but will eventually drag you down in long term. Avoid making assumptions based on key levels - they aren't respected every time. Always trade after confirming the reversal because we never know what happens. React, not predict.
Long
by QJEEE