bitcoinI think it will probably have another bottom. There is no enough power to start new wave. When the price breakout the channel ( the blue channel ), it's time to long.
Bitcointrading
BTC preparing for next leg downHello everyone,
There is not much to say here. In my previous idea, I highlighted how BTC has started a clear intermediate beartrend and I was expecting a break of 42k to reach 35-36k. That's happened.
Now what I am eyeing although we saw an increase in volume at this level with a spring at 33k it looks like bulls are not following through and bears are clearly in control. This was more profit-taking and break-even point for some (in my opinion) rather then a buying zone. Although we have the recurring buy the dip narrative, this is mainly driven by retail investors who do not understand markets dynamics and macroeconomy. With the current FOMC meeting, high inflation, end of tapering in March and rates hikes BTC like other risks on assets are suffering a bear trend. Who had to de-risk has likely already done so and we have now retail money and Long-term investor in the markets.
Rule number one of trading, NEVER TRADE COUNTER TREND. Although there are people that are able to make money counter-trend, I would like to ask you something: Are you able to row counter stream? Maybe... a lot of energy and likely to fail.
Then my suggestion is to try to long in a bear trend and wait for a clear reversal before entering the market.
Nevertheless, BTC is creating a clear pattern in which the 20MA and 50 MA are currently dynamic resistances and is trading in a channel. BTC is now approaching for the 4th time the 20 MA and I do not have reason to believe BTC will have a reversal her. Although many will argue that RSI and other indicators are oversold. Well, I suggest you stop using them or learn to use them because in a bear trend the RSI and Stoch RSI migrate to the south portion of the scale and trade there for an extensive period of time, which indicates that bears are in control and there is low momentum for bulls.
Nevertheless, I believe BTC after this leg down to 29k will enjoy a small relief rally back to 34-35 before continuing down to set the bottom at 22k.
If BTC manages to break the resistance at 41k then I will change my mind and start to possibly look for longs. However, now the picture is clear and anything below 41k is a short opportunity.
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BTC Bitcoin: 1W Chart DiscussionHello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Bitcoin (BTCUSD).
The chart is self-explanatory. The price recently formed a bear flag and now it has been breaking down. Also, the price broke below the Support and Resistance Line with an attempt to go back above it however it failed. Since that point, the price has been falling on the weekly scale. The bear flag target is around $22K, however the price may get supported around the $30K region as there is significant support. RSI is headed down and MFI (Money Flow Index) is also falling. Volume has been consistent. The VPVR (Volume Profile Visible Range) shows areas of heavy trading. This analysis is only showing a downside case. If price moves back above the S/R line, the analysis may be invalidated.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
bitcoinThere are two important areas (the red line. previous bottom). I always follow DXY, GOLD and BITCOIN, they always react to each other. if DXY goes up, GOLD comes down, and if GOLD come down, money goes to BITCOIN. be careful about these charts.
BITCOIN con'twith FOMC behind us and not raising interest rates until March, i expect BTC to continue towards the upside, as more money pours in to clear shorts.
Expecting mass liquidation of short sellers for the next couple months.
Bitcoin can rise to 40k zone, but don't get too excitedAs I said yesterday, after finding strong bids under 34k, Bitcoin has started to rebound and now we are in a correction is underway.
At the time of writing, the price is 37400, just under a short-term resistance.
A break up to this resistance looks very likely and this can lead to further gains to the important 40k resistance.
Although I'm bullish on crypto and BTC in short term, I expect more losses after this correction.
Bitcoin(BTC) LONG TO $40KBTC going on an A-B-C correction which is very common after a good 5 wave impulse
Blue 5 wave Elliot wave from 2017 to 2021
ABC corrective wave in RED
Wave C is an irregular correction(Wave B ended above start of wave A) and is of 5 wave series in PURPLE
Wave C has two more waves to go sub wave (4) and sub wave (5)
I believe there will be a more complex sub wave 4 in bigger Wave(C) which might go up temporarily to 40K before the final sub wave 5 ends around 26K
The retracement of the subwave 3 of Wave (C) and the fib extension of subwave 2 have a great resistance 40K, so I believe in short term BTC might go to 40K with wave 5 before it goes on final subwave 5 and then reverses
Happy trading and please leave feedback
Bitcoin retrace to $35k then $15k once Apex of Triangle breaks Based on 2 series of elliott waves I've calculated. I have listed the Daily and the Weekly. We are currently selling down on the C wave of the Daily Elliott Wave. There is a hidden Bearish cypher pattern, that initially bounced off of B leg, but we are showing a Triangle and its holding. The failed breakout will result in a retrace back below B leg and break $50, which leads us to my 1st target of $35k,,,
More updates will follow once we retrace to the $35k level
Bitcoin has reversed strongly, how bullish is this?Yesterday we had another strong sell-off for Bitcoin in the first part of the day and the cryptocurrency dropped under 34k floor.
However, after reaching 33k, bulls totally took control and Bitcoin has finished the day into the green.
Considering the almost straight line fall from 43k a deeper correction is not only normal but also healthy.
From a technical point of view, 34-34.500 zone should act as strong support and the first clear resistance is slightly above 38k
Speculators can look to buy dips under 35k with the mentioned target
A new low under 33k would negate this scenario.
Best regards
Mihai Iacob
$BTC HIDDEN BULLISH DIVERGENCE LONGER TIME-FRAMECheck the chart and share your thoughts!
Next lowest resistance level is $30,000 which is a strong one...
It seems like it's going to confirm this Divergence trend and possibly reverse back upwards soon!
BITCOIN LONG TO 48,000 !!!we can see that bitcoin is reaching to our black thick trendline at 33,333 , and that means one thing! we can buy it to 48,000 and it will be our first target.
Bitcoin Analysis 23.01.2022Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
I will personally reply to every single comment!
If you enjoyed this analysis, I would definitely appreciate it, if you smash that like button and maybe consider following my channel.
Thank you for watching and I will see you tomorrow!
Bitcoin / BTC - Where is it going next?The fibo there is critical and as you can tell the 50% fibo didn't hold and hit my POC - point of control level in aqua blue. The red horizontal lines are daily support / resistance while aqua blue are POC levels.
Do note the dotted trend line is a weekly TL and a hit on that would be a third bounce if it holds.
With FOMC coming next week this weekend and next week for crypto will be interesting. So be cautious and patient while managing your risk wisely.
Original chart post -
BTC Bitcoin: 1W Chart In depthHello friends, today you can review the technical analysis idea on a 1W linear scale chart for the Bitcoin ( BTCUSD ).
The chart is self-explanatory. The Bitcoin price has been heading down since the all time high and now below a major Support/Resistance Line around the $40K-$44K area. The price may get supported by the $30K area, however if it falls below that area and keeps falling, expect the price to get supported by the Extreme Danger Zone Support Line I drew in the chart. Below that is the previous all time high support area. The RSI (Relative Strength Index) and MFI (Money Flow Index) charts show the major support and resistance lines showing historical trends. Volume has been consistent. Lastly, VPVR (Volume Profile Visible Range) shows areas where there is heavy trading.
Since the RSI and MFI are coming close to major support areas, the Bitcoin price has potential to rebound but keep an eye on the Volume and traditional markets as there may be a very good chance it may complete a Dead Cat Bounce and come back down again.
Lastly, the chart shows a Bear Flag formation which has a target at the Extreme Danger Zone Support Line. This is also a very important line to consider since the Bear Flag formation target is at the same area.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BTC Elliott wave counting N2GM Everyone,
I shared before my favourite count. However, this is also a valid EW count at the moment, which I keep as an alternative.
The current correction has strong bearish momentum. Hence there is a chance we revisit the 24k.
I had this count for a while. However, I was resistant to share it because of internal bias. Nevertheless, we know that bias is not very good in trading. Hence this is a possibility.
In Elliott Wave, you always have your preferred counting and then two alternative counts, which are constantly updated as the price unfold itself. 24k is a concrete possibility. My suggestion right now is to play either level by level or stay completely on the sideline and wait for the trend to reverse clearly, or my preferred option is to STAY IN STABLECOINS AND EARN INTEREST ON IT IN DIFFERENT PLATFORMS (anchor, Nexo, kucoin etc.) up to 14% per year. This option will earn you money while doing nothing and counteracting the capital erosion due to inflation.
The counting above is getting more and more my preferred one as a drop to 24k would mean a perfect touch of the 200MA (happened in the covid crush). It is also where the long term VWAP since March 2020 is resting, and also it's the 130% of the projection of wave A which is the usual target for wave C of a regular Flat correction. However, I will look into entering at 30 k with tight stop loss, and if I am stopped out because the 29 k level is violated, I will re-accumulate at 24k. This is once in a lifetime opportunity that I won't miss. The last time this happened, Bitcoin increased by 1500% in the year after, and some altcoins, as you know, have increased 100x (ADA 18211%, SOL 136391 + %, ETH 5558%, Doge 68000%). If I were you, I would be dancing right now at the idea of this opportunity.
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bitcoinThere are two ways, it can continue to down to previous bottom or it may want to react to the channel ( red line ). In this area, Daily and 4H RSI show us overbought and MACD has divergence, so be careful.
Bitcoin heading towards 30000As I mentioned in previous analysis Bitcoin has some support near 40000
Bitcoin respected the support and bounce about 10%.
Now in previous trading session it closed below 40000 and stated trading below the same.
Based on current price action 30000 level should be target of this fall.
Getting any pull back signal near 30000 will be good for long term investment.
On the flip side further breakdown below 30000 will crash bitcoin and you will see 20% to 30% correction near future.
30000 level is the key now.
Bitcoin Liquidation Dump Incoming!!! There has been over a billion dollars worth of long positions liquidated over the past week. Leveraging long on the way down is a great way to burn your money and only helps the shorts. STOP DOING IT.
That said, I believe Bitcoin will bottom around 20k. An extended flat correction fits the chart almost perfectly. This possibility would set a bottom below the summer low of 30k. Coincidentally, the 200 weekly moving average is lining up exactly at 2017s ATH. (The 200 weekly is where support was found in previous cycles and is where the majority of my limit orders are).
Today, the price broke below the greater ascending wedge that has been forming since December of 2020. The chances of this being a fakeout are slim, given the macro environment. US indices have been getting crushed as all eyes rest on this month's FOMC meeting.
Longs desperately need mid 30k to hold, but the chances of the bottom being put in via a liquidation event are looking likely. We've seen this playout in 2017, in 2020, and there's a good chance it plays out now.
Maybe the Fed is hawkish and Bitcoin does bottom at 20k, maybe they walk back their decisions as to avoid a taper tantrum and the 5th and final wave that takes Bitcoin past 6 figures begins. Whichever way it plays out, be intelligent in your trades. Make your money work for you.
BITCOIN - LONG - BUT FIRST A LITTLE MORE SELLING PERHAPS...If we look for repeatable patterns we may find Bitcoin selling off a little more and finding support at 40k before it shoots up again.
The last time Bitcoin had a big sell off was in May hitting 30k on 19th May.
From there the market created 4 failed attempts to go higher before creating a new low on 22nd June - effectively running the stops.
It then ranged and contracted for a month before finally shooting higher.
Now, after the similar November sell off, the market has done the same thing - attempting 4 times to go higher and failing and has begun to dive.
If history repeats, we may see the market hit the 40k zone and possibly create a new low.
A fib extension indicated the 1.618 reversal pattern will be a new low (41400).
Here would be the zone where we would look for the shoot higher (41400 - 38800).
Important note: the 618 of the last swing higher (21/06 - 10/11) is at 44k. This could be the first reversal zone - set an alarm and we will judge the price action here!!
BTC/USDTBitcoin is in a long-term uptrend channel that is falling to the bottom of the channel.
It is very likely that Bitcoin is supported from the bottom of the channel for the following reasons and goes to the top of the channel...
+EMA 100 WEEKLY
+FIBO 0.786
+BOTTOM OF CHANNEL
+MIDLINE OF ASCENDING CHANNEL IN LONG TERM
But if Bitcoin fails to move up from the bottom of the channel, it will fall to the bottom and the bottom of the channel will break, forming a M pattern that puts Bitcoin at around $ 18,000 on the bottom of the long-term bullish channel .
WHATS YOUR IDEA?
Bitcoin: We Hereby Dub You Finished 🗡Bitcoin has been on a long and arduous downward journey for some time already. Now the price has fallen short of the $39672 mark, where it has again affirmed the downward trend. Thus, we dub Bitcoin’s wave (iv) in blue finished and expect the price to go even lower from here. We indeed see it travelling to the $30000 region.
Still, there remains a small 20% chance that the price could defy our prognosis and decide to not be ready to end wave (iv) in blue yet. Then, it could rise back up and above its previous high: the $68958 mark.
Bitcoin- I've become from bearish to strongly bearishTwo days ago I closed my sell shorts expecting a relief rally and yesterday, after the break above 42500, I expected at least 46k resistance to be touched. Even I, as bearish as I am on medium-term, didn't expect such a strong reversal. And this quick fall to 40k again tells me one thing only, Bitcoin has more to fall.
From a technical point of view, Bitcoin has traded in a range in the past month, from 40 to 44k or so, and this rectangle should mean continuation once 40k is clearly broken.
The first clear support is at 35k followed by the strong 30k support. Bitcoin above 45k would put a stop to this scenario
Bitcoin correction is overHello,
Since November, Bitcoin has been in a correction phase, and I believe the January candle will end this phase. And we will see a new bullish trend that will take three months at least.
The Ascending triangle pattern is visible in the monthly TF, as you see on the chart. If history repeats itself, we might see ~$90k by the end of May.
Please hit the like button if you agree.
Thanks :)
