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BITCOIN, Massive Broadening Wedge, Targets Active + ETF Volume.Hello There! Welcome to my new analysis of BITCOIN in the daily timeframe perspective. The current bull run is still holding on and BITCOIN does not back off and is printing one hew high after the other. This uptrend is backed by real events that support the bullish case such as the Bitcoin ETFs release which is the preliminary fundament of new and fresh volume moving into the whole cryptocurrency market. When considering the developing dynamics in my technical chart perspective now it has to be pointed out that BITCOIN since it bounced several times within the 50-EMA established the ability to form this gigantic broadening wedge formation. Recently BITCOIN formed the crucial breakout above the upper boundary of the formation above which it is now developing a main bullish triangle continuation formation. There is also a major wave count ongoing which is supporting the broadening wedge development as the major waves A and B already formed the fundament of the broadening wedge BITCOIN is now continuing to form the wave C simultaneously with the bullish expansion wave. What is also an important factor that is stabilizing the bullish trend here is the horizontal support marked in orange. Taking all these factors into consideration the most meaningful insight here is that BITCOIN now activated the main target zones with the initial target zone to be reached once the bullish continuation triangle has completed with the continued extensive bullish breakouts. Once the initial target zone has been reached and the bullish BTC ETF volume is holding on together with bullish technicals the final target zone will be reached. Thank you everybody for watching my idea about BITCOIN! Support is greatly appreciated. VP
INDEX:BTCUSD
by VincePrince
12
BITCOIN on the quickest ATH test! Is this a narrative breaker?A few weeks ago we published an analysis regarding the importance of the .786 Fibonacci retracement level in cyclical terms, showing that historically, every time Bitcoin (BTCUSD) has closed a 1W candle above that Fib level, it never looked back and it always tested the All Time High (ATH) soon after. Fast forward to today, BTC has already closed 2 straight 1W candles above that level. On this analysis on the 5D time-frame, we see the completion of the Golden Cross, which has always been present once on every Cycle, this time though formed the closest ever to the ATH. In fact Bitcoin is 'only' another +20% away from its ATH and technically in should get hit within the next handful of weeks. In that case, we will have the quickest rise from a Cycle Bottom (RSI based) to ATH since the 2012 - 2013 Cycle, which was Bitcoin's first and of course not a representative Cycle sample as it was on its first years and naturally on a very aggressive rise due to being a brand new market on low cap. If we do count however from the actual November 2022 bottom (460 days up to now), then the current Cycle goes head-to-head even with 2012 - 2013 (it was 466 days until the ATH)! In any case, this is a remarkable run for the market with still more than a month left until the new Halving! Of course much of this rally is attributed to the newly approved ETF, which is attracting historic attention and capital inflows on Wall Street. Just a side-note, it is worth paying attention to the 5D RSI. A Resistance Zone test can be a first bell that the top is in or very close. But what do you think? How long before we test the ATH? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
5
BITCOIN (BTCUSD): Breakout & The Next Resistances ₿ Bitcoin broke and closed above a key daily horizontal resistance, setting a new higher high higher close. Here are the next historical resistances based on a price action of 2021: Resistance 1: 58900 - 61000 area Resistance 2: 62300 - 64200 area Resistance 3: 65500 - 66300 area Resistance 4: 67500 - 69000 area The next goal for buyers will be Resistance 1. Get ready for a further growth! ❤️Please, support my work with like, thank you!❤️
COINBASE:BTCUSDLong
by VasilyTrader
3
BITCOIN Is it about to 'Ride the Bollinger Wave'?Bitcoin (BTCUSD) is on the 3rd straight month that the 1M candle has touched the top of the Bollinger Bands (BB). At the same time the Bollinger Bands Width (BBW) is on the rise while the 1M MACD is well past its Bullish Cross. When all those three catalysts took place together in the past, BTC has extended the rally on top of the BB, which is something we historically call 'Riding the Bollinger Wave'. Technically this should give at most a 2-month pull-back, which would of course be a buy opportunity, until the Cycle tops. Will you continue buying every pull-back without fear? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
4
BITCOIN Below the 4H MA50. Where does it go from here?Bitcoin (BTCUSD) has broken 3 days ago below the 4H MA50 (blue trend-line) for the first time in 2 weeks and so far remains under it, unable to regain the bullish momentum of the first half of February. But how bad can that be? Does it jeopardize the long-term bullish trend? For now not. Even though the February 15 High was technically a rejection on the Higher Highs trend-line that started on December 05 2023, the medium-term pattern remains a 1-month Channel Up. That pattern is similar to the Channel Up from October 13 2023 to December 17 2023, which broke sideways after a 1D candle closing below the 4H MA100 (green trend-line). The 4H MA100 is currently at 49656, with additional support levels Support 1 (48400) and the 0.5 Fibonacci retracement level (47800), which provided the necessary support on the December 11 2023 Low. As a result, we have a strong candidate zone as the new Support Base that can technically extend the bullish trend of the Channel Up. The short-term target is the Higher Highs trend-line at 55000 and if we get a 1D candle closing above it, Channel Up extension to its top at 60000. Note that the 4H RSI offers a very strong buy signal on its 30.00 oversold barrier. Every time it was hit in the last several months, the price rebounded (even in the cases January 13, 14 and 18, when it was just short-term rebounds). But what do you think? Will BTC provide a bullish extension on the current Channel Up? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
1
Bitcoin- Still has upside powerTwo days ago, I mentioned my expectation of a significant correction in BITSTAMP:BTCUSD , and I am considering selling in the 54,500-55,000 zone. While my view on a strong correction in the medium term remains unchanged, the short-term outlook remains strongly bullish. Upon examining the short-term chart, it's evident that Bitcoin is well supported by bulls above 50k, and both the weekend's drop and yesterday's decline were quickly bought. Furthermore, the recent consolidation forms a rectangle, which typically indicates a continuation pattern. In conclusion, in the short term, it's advisable to consider buying near the 51k zone. Additionally, considering a stop-loss order below recent lows, we could potentially achieve a risk-to-reward ratio of more than 1:2 or even 1:3 depending on the target.
BITSTAMP:BTCUSDLong
by Mihai_Iacob
10
BITCOIN New rally about to start! Similarities with 2020/21.Bitcoin (BTCUSD) has rebounded strongly since the 39000 Low and has left the 1D MA50 (blue trend-line) significantly behind, with many wondering if a correction back to it is due. That would technically be reasonable and an optimal level to add more buys but it is not necessary to happen. A simple comparison with the 2020/ 2021 Bull Phase (right chart) offers critical insight on a potential rally structure. ** Fibonacci levels and CCI ** As you can see (both charts are on the 1D time-frame), during the 2020/21 rally BTC pulled back below the 1D MA50 only after it broke above the $60k level. Even during the short-term correction within the 6.0 - 5.0 Fibonacci extension levels (dotted Channel Down), the 1D MA50 held. The 1D CCI pattern since the start of 2023 has been identical so far to BTC's price action since the March 2020 COVID bottom. ** The structure of today vs 2020/21 ** The symmetry between the two is remarkable, they both started on a (dotted) Channel Down that broke below the 1D MA50, then a consolidation phase in the form of an Arc within our base 1.0 - 0.0 Fib levels and then a rally to the more recent (blue circle) consolidation within the 3.0 - 2.0 Fib extensions. That is the structure that the February rally left behind and if 2021 continues to be our guide, it should now start a new rally first to the 4.0 Fib (65000) and then to the 6.0 Fib (a little above 100000) for the new dotted Channel Down correction. ** Is such strong rally so fast realistic? ** Of course $100k by April would mean reaching those levels by the Halving event, which seems unrealistic (of course that is relative) even with the current ETF inflows which are surpassing every prior estimate. But of course it is a solid framework to have as a guide even if the current Cycle proves to be less aggressive than the previous and symmetry starts breaking. But what do you think? Is it possible for Bitcoin to continue replicating 2021 and reach 100k so fast? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
10
🚧Bitcoin can GO DOWN by Rising Wedge Pattern🚧✅Bitcoin has managed to form a Rising Wedge Pattern near the 🔴 Resistance zone($52,820-$52,460) 🔴. 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 🔔After breaking the Support line , I expect Bitcoin to go Down to at least the 🟢 Support zone($50,840-$50,200) 🟢 in the next hour. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
37
BITCOIN just made the most important 1W closing of this Cycle!Bitcoin (BTCUSD) made last week a closing that is going under the radar by the market. The closing of the last 1W candle was made above the 0.786 Fibonacci retracement level from the November 2021 All Time High (ATH). But why is that of such a significant value? Because every time in BTC's history it closed a 1W candle above the 0.786 Fib of the ATH, the price never closed below it again. In fact we can claim that for every past Cycle, such a 1W closing is the final confirmation for the start of the Parabolic Rally. It has to be noted that after such closing, Bitcoin made new ATH in maximum 2 months! That suggests we could see a new Historic High at the time of the Halving! Are just starting the new rally? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
35
Bitcoins the King of Crypto Currency to Hit $54k+In the kingdom of crypto, BTC makes a decree and others follow, Lots of ranging market experienced over the past few days / week is not strange as the momentum to push upwards needs to be gathered, That seems to have been completed, The bulls are ready for a new ride...... At DANCOLNATION CAPITAL, We shall be monitoring candlesticks formations and chart pattern with other tools for confluence purposes and refining of our entry as the market acts
BINANCE:BTCUSDLong
by Ejike_Odeh
Expanding Ending Diagonal Can Cause a Correction in Bitcoin🧐👋Hi everyone. 🚀Bitcoin continued its upward trend after a series of News and Joe Biden's strange Tweet (red eyes). 🏃‍♂️Bitcoin is moving near the upper reaches of the 🔴 Heavy Resistance zone($53,000-$47,000) 🔴, Resistance lines , and 🟡 Potential Reversal Zone(PRZ)($52,700-$51,780) 🟡. 🌊According to the Elliott wave theory, it seems that Bitcoin has chosen the Expanding Ending Diagonal Pattern to complete the fifth wave ( As long as Bitcoin cannot break the 🔴Heavy Resistance zone($53,000-$47,000)🔴, this wave count is valid. ). 📚The Expanding Ending Diagonal Pattern ( Elliot's point of view) is the same as the Ascending Broadening Wedge Pattern ( Classical Analysis point of view). ❗️⚠️Note⚠️❗️: If Bitcoin can touch $53,700, some corrective scenarios will expire, and we can expect Bitcoin to continue its upward trend to $56,000 in the coming days. 🔔I expect Bitcoin to go down to at least $50,000 , where the most volume trading has happened around this price in the past few days, and if Bitcoin can create a candle below $50,000 in the 4-hour time frame , we can expect a lower line of Expanding Ending Diagonal Pattern will break, and Bitcoin will fall even to the 🟢 Support zone($49,000-$47,000) 🟢. 📚 Elliott waves include a series of Rules and Guidelines that you can analyze and predict the road map of the price. In general, in the theory of Elliott waves, you are faced with several scenarios in which you should find the correct scenario with the help of other technical analysis tools and fundamental analysis and try to identify the correct scenario from the false scenario. ❤️In the end, here is some advice for you as a little brother: 🔸TradingView website has provided us with a suitable space to transfer our analysis, so it is better to use it and NOT waste our time on destruction or ugly comments. 🔸If you have any comments, please share them with respect . 🔸 No analysis is 100% , so if you use analysis as an investment, it is better to follow capital management and take responsibility for it yourself. 🔸I hope we can use TradingView to increase our capital and knowledge . ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
54
BITCOIN Are we witnessing a run straight to new All Time Highs?Bitcoin (BTCUSD) has broken aggressively above January's Highs and hasn't been that high since November 2021! The December - January consolidation is history and what technically follows consolidation periods are phases of strong trends. We can in fact gain remarkable insight by comparing BTC's bullish run since the November 2021 market bottom to the runs of 2020/21 and 2015/16. As you can see on these 1W time-frame charts, all periods share common characteristics. They all started with a strong Channel Down that formed the market bottom and then consolidated for the first time within a Triangle after they broke above the 1W MA50 (blue trend-line). After a rally, the 2nd consolidation took place (red arc), which then paved the way for a more aggressive rally. Based on this pattern, it would appear that Bitcoin could be at the start of such a rally. The only charactestic that is not common on all three is that in 2023/24 and 2015/16 we had a Bullish Cross between the 1D MA50 and the 1W MA100 (green trend-line) after the Triangle consolidation, while during 2020/21 that took place much earlier due to the Libra euphoria. In any case, all phases have a Higher Lows trend-line which was respected and held during the two past Cycles. On the current one, that gives a downside range at around 35k, which is practically the 1W MA50. Also notice how the 1W RSI negated any potential for a Bearish Divergence by crossing above Lower Highs. That is the same RSI pattern that emerged after each red Arc consolidation that led into the rallies. As long as those hold, could it mean that Bitcoin has started a very aggressive wave that will break to new All Time Highs (ATH) in a matter of weeks, possibly by the time of the Halving? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
5
🚨Bitcoin is Ready to Decrease to the Uptrend line🚨🏃‍♂️Bitcoin is moving in the 🟡 Potential Reversal Zone(PRZ)($50,100-$47,000) 🟡. 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 🌊According to the theory of Elliott waves , five impulse waves have been completed in 🟡 Potential Reversal Zone(PRZ)($50,100-$47,000) 🟡. 🔔I expect Bitcoin to fall at least to the Uptrend line , and if this line breaks, we can expect Bitcoin to fall to the 🟢 Support zone($44,700-$41,780) 🟢. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
43
BITCOIN to 40k or 69k?Bitcoin (BTCUSD) has been trading within a long-term Channel Up pattern since the November 21 2022 market bottom. The price broke today above the psychological level of $50000 and is about to touch that very top (Higher Highs trend-line) of the Channel Up. As the 1D RSI broke above its 4-month Lower Highs trend-line and is largely overbought near 80.00, this technically resembles the same break-out of June 23 2023. As a result, as long as the 1D candles close within the Channel Up, BTC could pull-back to a 'fair' value near $40000 and the 1D MA200 (orange trend-line) above the 0.382 Fibonacci retracement level. Time-wise it would be ideal to reach that level before April's Halving and start attracting long-term buying interest then. If however a 1D or even better, a 1W candle closes above the Channel Up, we will turn again largely bullish on the medium-term break-out as we can see an price action resembling the short-term Channel Up that started on October 24 2023 that paved the way for the December 08 2023 High. That High was on a +79.77% rise from the September 11 2023 Low, the last technical Higher Low of the Channel Up. A new +79.77% run from the recent January 23 2024 Low would peak marginally above $69000, which in that case will be our Target. Which scenario do you think is more likely to prevail now? 40k or 69k? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
9
🗺️Bitcoin Roadmap🗺️⏰(4-hour time frame)⏰🏃‍♂️After breaking the 🔴 Resistance zone($44,700-$41,780) 🔴, Bitcoin has reached the top of the Ascending Channel with the help of the Symmetrical Triangle Pattern . 🏃‍♂️Bitcoin is also currently moving near the 🟡 Potential Reversal Zone(PRZ)($50,100-$47,000) 🟡. 🌊In terms of Elliott wave theory , Bitcoin seems to be. It has completed wave 3 at the top of the ascending channel and is completing wave 4 . 🔔I expect wave 4 to end near the broken 🔴 Resistance zone($44,700-$41,780) 🔴 and Bitcoin will start to rise again to the 🟡 Potential Reversal Zone(PRZ)($50,100-$47,000) 🟡. ❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed. Bitcoin Analyze ( BTCUSDT ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
76
BITCOIN forming the first 4H Golden Cross in 5 months!Bitcoin (BTCUSD) is about to form a Golden Cross on the 4H time-frame, which will be the first such formation in almost 5 months (since September 18 2023)! Regardless of the time that has passed since its last occurrence (which is a strong parameter), that pattern alone is a strong enough bullish signal for the short-term. This can be the signal that can trigger a strong rally back to January's High but within the technical context of the dominant medium-term pattern that is none other than an Inverse Head and Shoulders (IH&S). That is a technical bullish reversal pattern that is formed on market bottoms. It could be no coincidence that the last 4H Golden Cross (chart on the right) was formed while BTC was completing an Inverse Head and Shoulders. The standard target of such patterns is the 2.0 Fibonacci extension level. As you see on October 20 2023 that was exactly where the price consolidated and it happened to be a Resistance level from a former High. The 2.0 Fib on the current IH&S happens to be only marginally above the 49000 Resistance and that is our Target for the short-term. Do you agree that the emergence of a 4H Golden Cross and the Inverse Head and Shoulders can take the price back to January's High? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
44
Navigating Sympathy Plays: A Guide to Trading BITCOIN & COINBASE** Introduction ** Sympathy trading, a strategic approach rooted in both technical and fundamental analysis, capitalizes on correlated movements between assets to uncover profitable opportunities. In this article, we delve into the nuanced realm of sympathy trading using Bitcoin (BTCUSD) and Coinbase Global Inc. (COIN) as case studies, exploring how a blend of technical and fundamental analysis can enhance trading strategies. ** Understanding Sympathy Trading ** Sympathy trading hinges on discerning and exploiting the symbiotic relationship between correlated assets. It involves analyzing both technical indicators and fundamental factors to identify potential entry and exit points, as well as underlying drivers influencing price movements. ** BTCUSD and COIN: A Sympathetic Relationship ** BTCUSD and COIN exemplify a compelling case study in sympathy trading within the cryptocurrency domain. Bitcoin's price dynamics often exert a significant influence on Coinbase's stock value, reflecting the exchange's dependency on Bitcoin's performance and trading volumes. Technical Analysis Insights: Technical analysis provides crucial insights into price trends, momentum, and support/resistance levels. Key technical indicators for trading BTCUSD and COIN include: 1.Moving Averages: Analyzing moving average crossovers and trends helps identify potential entry or exit points. Golden crosses (short-term moving average crossing above long-term moving average) or death crosses (opposite) can signal trend reversals. 2.Volume Analysis:  Monitoring trading volumes in both BTCUSD and COIN can confirm price movements and signal changes in market sentiment. An increase in volume accompanying price movements suggests stronger market conviction. 3.Chart Patterns:  Identifying chart patterns such as triangles, flags, and head and shoulders formations can provide insights into potential price reversals or continuation patterns, guiding trading decisions. Fundamental Analysis Insights: Fundamental analysis delves into underlying factors driving asset valuations and market sentiment. Key fundamental factors influencing BTCUSD and COIN include: 1.Regulatory Developments:  Changes in regulatory frameworks governing cryptocurrencies can impact investor sentiment and trading activity. Positive regulatory developments may boost confidence in BTCUSD and COIN, while regulatory uncertainties could lead to volatility. 2.User Adoption and Trading Volumes:  Monitoring user adoption rates and trading volumes on Coinbase's platform can provide insights into the exchange's revenue prospects and growth trajectory. Increased user activity often correlates with higher revenues for the exchange. 3.Market Sentiment and News Catalysts:  Market sentiment surrounding Bitcoin, such as institutional adoption, macroeconomic factors, or geopolitical events, can influence both BTCUSD and COIN prices. News catalysts, such as product launches, partnerships, or earnings reports from Coinbase, can drive short-term price movements. ** Crafting Sympathy Strategies: ** Sympathy trading strategies integrating technical and fundamental analysis may involve: 1.Confirmation of Technical Signals:  Confirming technical signals with fundamental catalysts can strengthen trading convictions. For example, if a bullish technical pattern emerges in BTCUSD, traders may look for positive fundamental catalysts supporting the uptrend in COIN. 2.Event-Based Trading: Leveraging fundamental analysis to anticipate market-moving events, traders may position themselves ahead of key announcements or developments. For instance, if positive regulatory news is expected for cryptocurrencies, traders may preemptively buy COIN in anticipation of increased trading activity. ** Risk Management Considerations: ** Effective risk management is paramount in sympathy trading to mitigate potential losses: 1.Position Sizing:  Determine appropriate position sizes based on risk tolerance, account capital, and trade conviction. Avoid overexposure to a single trade and diversify across multiple assets to spread risk. 2.Stop-Loss Orders:  Implement stop-loss orders to limit potential losses and protect capital. Place stop-loss levels based on technical levels, volatility considerations, or predetermined risk-reward ratios. ** Case study in action ** Let's look at the charts, both on the 1W time-frame in order to catch and get an understanding of the bigger trends and see if the theory is applied on the price action. Bitcoin has provided 5 excellent Sympathy Play signals for Coinbase in the last 2 years. Starting with a Bear Flag that was rejected on its 1W MA50 (blue trend-line), Bitcoin initiated a huge decline on Coinbase (red shape), proportionally much stronger that its own. Then as its was attempting to find a market bottom, it provided 2 recovery signals that gave a proportionally bigger rise on Coinbase. Then a BTC Bull Flag again turned into a proportionally bigger rise on Coinbase with the last signal coming on October 2023. As you can see during this significantly sample, Bitcoin tends to provide strong early buy/ sell signals on Coinbase. It is worth noting that even though Coinbase is a stock, it follows Bitcoin's price movements more closely than the S&P500 stock index, which we have illustrated on the right chart by the grey trend-line. As you can see there have been numerous occasions where Coinbase failed to follow a big stock market rally and instead was tied to BTC with the most notable examples being recently in January 2024, March 2023 and October 2022. ** A few things to consider that distinguish Bitcoin from Coinbase: ** Market Factors:  Bitcoin's price is influenced by various market factors such as supply and demand dynamics, investor sentiment, macroeconomic trends, regulatory developments, and technological advancements. Coinbase's stock price, on the other hand, is influenced by factors specific to the company, including financial performance, earnings reports, regulatory compliance, competition, and market sentiment towards the cryptocurrency industry. Liquidity and Trading Volume:  Bitcoin, being the largest and most well-known cryptocurrency, typically exhibits higher liquidity and trading volume compared to Coinbase's stock. As a result, Bitcoin may experience more significant price movements and volatility compared to COIN, which could impact their respective charts differently. Correlation vs. Causation:  While Bitcoin's price movements may influence sentiment towards Coinbase and vice versa, correlation does not necessarily imply causation. While there may be periods where BTC and COIN prices move in tandem due to shared market sentiment or external factors, they are ultimately distinct assets with their own fundamental drivers. Market Participants:  Bitcoin is traded on cryptocurrency exchanges by a diverse range of market participants, including retail investors, institutional investors, miners, and traders. Coinbase's stock, on the other hand, is traded on traditional stock exchanges and may attract a different set of investors, including institutional investors, hedge funds, and retail traders. ** Conclusion: ** Sympathy trading using BTCUSD and COIN as case studies demonstrates the synergy between technical and fundamental analysis in identifying trading opportunities and managing risk. By integrating insights from both disciplines, traders can enhance their trading strategies, navigate market dynamics with confidence, and strive for consistent profitability in the dynamic cryptocurrency market. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDEducation
by TradingShot
5
BITCOIN rare signal. Is it staging a mega bullish break-out?Bitcoin (BTCUSD) is about to flash one of the strongest cyclical bull signals it can give as the 1M (monthly) RSI is attempting to break and close above the 62.50 level. What's so important about it? Every time that level broke with the price deep into the Bull Cycle, BTC started its most aggressive phase, the Parabolic Rally that ended on the Cycle's new (All Time) High. Last time that happened was in October 2020 and the Cycle before in June 2016. Common characteristic on both occasions is that the price was above the 0.618 Fibonacci retracement level of the previous High. On this Cycle, Bitcoin has already broken (and closed) above it since December 2023. As a result, once this pre-Halving consolidation is over, we can expect the new Parabolic Rally to start. In addition to the 1M RSI, the Vortex Indicator (VI) has diverged to its fullest last month after a Bullish Cross. Going back again to the previous two Cycles, symmetrically we are still at a level where BTC has established a Low/ Support and can only rise from here (exception of course the March 2020 COVID flash crash which set the market back for a few months. Also if it wasn't for the early 2019 Libra euphoria, the VI would have made the Bullish Cross at a later stage). As a result, comparing it with 2016 is more accurate. But what do you think? Is this potential RSI break-out, the strongest bullish signal we can get right now? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSD
by TradingShot
35
Bitcoin- Consolidation with bearish implicationsAfter the recent dip to the 38k zone two weeks ago, BITSTAMP:BTCUSD began to rise and reached the 44k resistance level. However, the upward movement appears to be corrective in nature, and the consolidation over the past week suggests bearish implications, raising the possibility of a lower high forming at 44k. The short-term support is situated around the 42k zone, and a break below this support could trigger a new downward movement. As long as the resistance at 44,000-44,500 remains intact, my focus remains on a drop towards the 36k zone.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
13
BITCOIN Weekly Update 05/02/2024 - 4hr breakdownHello again, so little quick cooperation on my statement : That by prolonged time of staying in highier price range without retracing down, odds are shifting to probability of going highier with time. So for better visibility I colored chart.. Now its clearly to see, that we stuck in price accumulation before unloading move.. But, its aswell clearly to see, that with time we slowly progressing highier, to our Buyside liquidity area and is unknown if we are willing to break to Highier range... Thats why for me is important FED high, which serve at this point of time as REVERSE point for me ... If I see price going above, and not willing to work to lower part of that range.. It should be "EARLY" signal, that there are increased odds of revisiting Highs from January and potentional more... Thats WHY is this idea not labeled long or short... But, if we not START to Reversing lower very soon (next 4-12 hours), odds to price pushing above 44k increasing a lot. So AGAIN, if you decide to make move and enter the trade, using STOP LOSS is a MUST! Hopefully, this helps some of you with your perception of market. If YES, please consider liking or sharing this post, it would mean a lot for me. Thanks Joe
INDEX:BTCUSD
by cryptocapitaltrading
Bitcoin- 36k zone remains my targetIn my previous Bitcoin analysis, I argued that, in my opinion, the correction for BITSTAMP:BTCUSD was not yet over, and we could potentially witness a drop to the 36k zone. Since then, the price dipped below the 40k zone and rebounded back to almost 44k. However, this rebound exhibits a corrective structure, resembling a bearish flag, suggesting that a new downward leg could follow. In conclusion, as long as the 45k level remains intact, selling rallies could prove to be a sound strategy with favorable risk-reward potential.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
17
BITCOIN Cycle Phases like you've never seen them before!On today's post we are basically upgrading our previous analysis (see chart below) with the addition of actual circle shapes on Bitcoin's (BTCUSD) Cycles and pies on their phases: As you can see this reveals a groundbreaking illustration of the historic Cycles. We don't want to get you in the technical details of the trend, you can find everything by clicking on our previous publication. But as you can see, on top of the tradition measuring of the Cycle phases (Bear, Accumulation, Bull), we have place Wedges/ Pies that fit into the actual Circles. Those Circles (as well as the pies naturally) are all the same size/ symmetry, which just goes to show you how similar BTC's Cycles are despite the different news and fundamentals that take place during each Cycle. We use a Double Circle pattern to demonstrate more vividly the Cycles. Most of BTC's price action tends to be within that Zone that is made, even the 2018 - 2021 Cycle, despite the notable divergencies during the Accumulation (Libra euphoria) and Bull (Musk, Tesla adoption) phases, it eventually fell back within the Channel. The presentation also reveals Bitcoin's current position relative to the previous Cycles (black "We are HERE" arrow). That's near the end of the Accumulation Phase, only a few weeks before the Halving, above the 1W MA50 (blue trend-line) and within the 0.618 - 0.5 Fibonacci Zone. The upside is enormous and since the price is above the Circles Channel as during February 2020, who is to say we won't see another outperformance, especially if positive fundamentals hit the market (ETF approvals already, potential Rate Cuts, more news of adoption every day etc). But what do you think? Is this Cycle presentation accurate and if so are you expecting a massive rally as we approach the Halving? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
29