BULLUSD trade ideas
Elliott Wave View: 5 Swing Sequence in Bitcoin (BTCUSD) Favors HShort Term Elliott Wave View in Bitcoin (BTCUSD) suggests that rally from 8.5.2024 low is in 5 swing. As 5 swing is a motive sequence, this favors further upside in Bitcoin. 1 hour chart below shows the decline to 58,867 ended wave 2. The crypto-currency has extended higher in wave 3 with internal subdivision as a 5 waves impulse Elliott Wave. Up from wave 2, wave (i) ended at 63,455 and pullback in wave (ii) ended at 62,039. The crypto-currency extended higher in wave (iii) towards 67,922 and pullback in wave (iv) ended at 64,802. Final leg wave (v) ended at 69,487 which completed wave ((i)) in higher degree.
Pullback in wave ((ii)) unfolded as a zigzag Elliott Wave structure. Down from wave ((i)), wave (a) ended at 66,559 and wave (b) rally ended at 67,784. Bitcoin then extended lower in wave (c) towards 65,000 which completed wave ((ii)) in higher degree. The crypto-currency has extended higher in wave ((iii)), but it still needs to break above wave ((i)) at 69,487 to rule out a double correction. Near term, as far as pivot at 58,867 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
BTC may be forming a Cup & Handle? Cup and handle forming on the Daily? Possibly on RSI also. 69K is a spicy zone, Look for a quick bust!
BTC's Downturn Started XAUUSD Technical Insight (H4)
Market Analysis:
A pivotal Bearish Order Block (CHOCH) has formed after several BOSES, decisively reversing the trend's trajectory. The Point of Interest (POI) serves as a robust resistance level, sparking instant reversals confirmed by Morning Star candle patterns. A substantial Fair Value Gap has also been identified at the CHOCH.
Trade Setup:
Set Stop Loss (SL) above the Order Block
Take Profit (TP) positioned upto the previous Lower Low
Sell Entry Zone: 68200_68250
Take Profit1: 67000
Take Profit2: 66000
Take Profit3: 65000
Stop Loss: 69200
BTC, everybody knows about the bullflagHello everyone,
today I want to talk about the obvious fact, that BTC is in a big bull flag, since it formed the 74k high. But the way how it moved out of the lowest point of that flag isn't impulsive at all unfortunately. There is only a three wave move, followed by some more choppy price action, so to trade it safe, we need more confirmation.
I added some support levels (orange) and a trend line (green) to the chart. If you like to follow my thoughts I will talk about the development of the price action within that bull flag in the upcoming weeks.
bitcoin next target longbtc if we can roll back up... that will be a buydaasfeasdfsdgfsdfdsfsdfsdfsdf
BTC ON THE RUN TO NEW HIGHS October the month for new highs
2025 bull run entries now for the run dont be late
Bitcoin Weekly to Four Analysis: Everything To Know Good morning Trading family
So I created this video to figure out where we are currently at in Bitcoin in price but as well what levels can Bitcoin reach currently and what happens if Bitcoin reverses with the Bears
I try to go into full depth to give you some levels to look for to help you mark out good entry or short positions if you are shorting Bitcoin
If you like this video or found it helpful : like, comment, follow, boost I appreciate it all
Mindbloome Trading / Kris
Trade What You See
BTC BouncesBitcoin held support at $66,550 beautifully - it had a wick below to grab liquidity before heading back up. The last two daily candles closed and opened on that line.
Things are looking better today.
10/23 5th time BTC rejected from 70k. Bullish? Overview:
The AMEX:SPY saw a healthy pullback of 0.9%, with a long wick touching levels last observed on September 26th. The index trended downward from the start of the trading session but rebounded sharply in the last two hours, doubling the volume seen earlier in the day. This surge formed a hammer candle—a bullish indicator, particularly when accompanied by increased volume.
Existing home sales in the U.S. dropped 1% from the previous month, reaching a seasonally adjusted annual rate of 3.84 million in September 2024, marking the lowest level since October 2010. Today, new home sales and initial jobless claims are expected, with forecasts set at 245k, slightly above the previous reading of 241k. If the numbers come in lower than expected, it would suggest the economy is not cooling sufficiently, potentially extending inflation.
This decline could be attributed to a rise in the 30-year fixed mortgage rate, which jumped 14 basis points to 6.82%, the highest since July 26 and a 71-basis-point increase since the Fed’s last major rate cut.
The likelihood of a rate cut in November has now dropped to 7%, influenced heavily by the Fed's upcoming reports. Given the weakening housing data, a rate cut may still be necessary to support the economy.
The recent market correction has exposed different strategies among ETF managers. BlackRock continues to buy aggressively, maintaining its purchase levels even after a 5% correction, keeping its stance bullish. Fidelity has remained neutral, staying on the sidelines since the peak of the current bull wave. ARK Invest, however, bought heavily at the top but is now selling during the correction, realizing losses. In summary: BlackRock is bullish, Fidelity is neutral, and ARK is bearish.
BTC TA:
W: BTC is slowly forming this week's red candle, but bullish hopes persist.
D: A significant correction unfolded, as the triple divergence likely completed. The day's wick dipped below $65.8k, then bounced off the 0.618 Fibonacci level, calculated from the bullish pump that began on Monday, October 14th. Despite the pullback, BTC showed higher volume and managed to recover. The final daily candle formed a bullish hammer, although the volume wasn't notably higher than the last two bearish days. As previously mentioned, as long as $62.7k holds, the bullish outlook remains intact.
Drawing trendlines for BTC this year shows the current upper boundary is slightly sloped downward—forming the top of what appears to be a bullish flag. It follows a large rally, with a slight pullback and consolidation, setting up for another potential breakout. Last Friday, on the 18th, the trendline was broken, suggesting a bullish confirmation if retested. However, yesterday’s price action pushed BTC below this trendline. Of course, the trendline could be adjusted to fit the bullish narrative, but the key level to watch is $66.5k.
4h: A sharp drop occurred yesterday, but most of it was recovered in the latter half of the day. This dip seems correlated with the S&P 500’s drop. BTC lost the local point of control at $66.8k but regained it. If bearish momentum continues this week without positive news, and if BTC falls below $65.8k, the next critical support is the yearly level of $62.7k. However, this would be the fourth or even fifth time this year that BTC has been rejected from $70k. If that happens again, will there be enough bullish momentum left to hold $62.7k? The candle that bounced off the 0.618 Fibonacci level formed a green hammer with above-average volume—a bullish sign.
1h: The hourly chart shows a V-shaped recovery, an uncommon pattern in market behavior. Beyond that, no additional insights.
Alts Relative to BTC: Interestingly, SOL has been rising while the rest of the market declines. Some attribute this to renewed interest in memecoins. However, popular Solana-based memecoins like WIF, BONK, and MEW are down, with only Popcat showing gains.
Bull Case: BTC faces rejection at $70k, followed by a deep pullback, and the Fed decides not to cut rates in November.
Bear Case: The Fed cuts rates, and BTC rallies.
Fear and Greed Index: The index is at 52, continuing its downward trend this week.
Opportunities : Check BINANCE:APTUSDT for a possible short opportunity. If SUI and TAO already corrected after their big pump, APT still wobbles at the top and recently posted bearish shooting star daily candle with high volume.
BTC*AWESOME OSCILLATOR
*BREAK AND RETEST PATTERN(Shaded part head & shoulders pattern)
*BULLISH STRUCTURE after HUNT (3 CANDLES)
The dominance of BTC in the options market is now back to 2021 October monthly expiry is just around the corner and in general October has been less than expected, with the upcoming election and interest rate cuts not bringing much positive news or inflows to cryptocurrencies.
The IV for the election week stayed at 55%, while earlier options were affected by the move to the moon and the IV was significantly lower, while there was also a significant increase in Block options trading, with 40% of daily trades now coming from the Block.
The dominance of BTC in the options market is now back to 2021 levels, which is directly related to the weakness of ETH, and options market indicators are now almost exclusively based on BTC data.
Not hurry up with a new longMorning folks,
So, Monday's setup is done perfect, we've got long entry around 66K support area as we've planned. But next step currently is not evident.
The point is that the retracement starts across the board - DXY, FX, Gold, Bonds etc... BTC in recent few weeks had a bit special performance. And mostly it was moving higher on D. Trump crypto programme.
Currently we wouldn't hurry up with a new long entry. Those who bought around 66K could keep positions with breakeven stops.
Btc usd. looking to build new support in a bull continuationjust posting so i can make another chart and monitor this one.
Btc, A little nudge, a little push and we are up and away.This should be quite interesting today.
Personally I am looking for more upward movement. But the volatility factor is always present.
Options
Earnings
Fud
Elections
In the book " Trading in the zone."
"If you think you should then you should."
Trust your insticts,and take profits.
Be well, be happy.
Chart Pattern Analysis Of Bitcoin.
K3 is a bullish spring candle,
If K4 close upon K3 to verify it.
It will be a good place to buy it here.
At least,
The previous strong bearish momentum had been interrupted here.
If the potential bear trend wants to expand.
The market needs more signals to verify it.
I don’t think another bear run had stated form K1,
It is just a larger scale consolidation,
And days later, the bull market will keep climbing up.
I bought back at K4,
Perhaps it is risky or too early to do it now.
Could the Bitcoin reverse from here?The price is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support which acts as an overlap support.
Pivot: 68,102.13
1st Support: 66,091.35
1st Resistance: 69,487.36
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Disclaimer:
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BTC 10/23/24💡
🔍 Daily time frame impulse: Price has made an impulse above the 10/20emas
🔍 Daily time frame correction: Price has corrected into the 10/20emas.
⌛ I will be waiting for the 4hr time frame to make a impulse and show a valid impulse above the 10/20emas as well as a correction into the 10/20emas just like the Daily has showed.
Bias: Bullish
2024-10-23 - priceactiontds - daily update - bitcoinGood Evening and I hope you are well.
tl;dr
Bitcoin - Bears did good but need a daily close below 65000 to confirm the bull trap. Right now it’s a tough spot to trade since daily 20ema was support and bears need to keep it below 68000. Probably best to sit on hands and wait for a breakout of this range. Still think bears are slightly favored to break below and trade down to at least 63000.
bitcoin
comment: Chart is the same as I posted on Sunday and my two legged correction was a bit too low for the B but C was absolutely perfect. What now? Daily 20ema could be support for now but my bearish thesis stands. Market has not printed 70000 and I doubt it will again for a longer time. Bears need follow through to make the last bulls cover and the selling would likely accelerate.
current market cycle : trading range (big triangle on the daily chart)
key levels: 60000 - 69000
bull case: Bulls bought the daily 20ema and want to keep it support and retest 69000. They know that if they fail here, market will test down to 62000 quickly. I do not have any more arguments for the bulls, since my bias has been bearish for many weeks now. If they close a daily candle above 68000 again, I would change my mind.
Invalidation is below 65000.
bear case : Bears had their do or die moment again and made it. Now they need follow through because a daily close above the big bear trend line from the ath would give bulls confidence again and bears would cover in fear of 70000. They need a daily close below 65000 to confirm the bull trap. My line in the sand was 66500 as of yesterday and we are not at 66400, so too close for comfort for bears.
Invalidation is above 68000.
short term: Bearish below 68000. Confirmation is for bears is below 65000.
medium-long term - Update from 2024-10-06: Something between 49000 and 70000. Big surprise, I know. I don’t know if we get a breakout of this range in 2024 again.
current swing trade: None
trade of the day: Bear trend day since Globex open, so pick anywhere and sell but maybe not into US close. Looking for shorts near the 1h 20ema was a decent strategy today.
