$BTC Daily UpdateCRYPTOCAP:BTC #BTC $61,953 resistance holding strong, previous 1D closed following up to the bearish engulfing from Wednesday, $58,290 current support in effect, RSI on 4H improving, on 1D RSI looks fine, unable to hold $58,882 support, $62,580 $63,544 $64,344 next resistance areas to watch.
Btcsignals
Bitcoin Analysis==>> Reversal Patterns==>>(Short term)Bitcoin moved as I expected in the previous post .
Bitcoin is currently moving in the Support zone($60,800-$56,700) and near the Support lines .
In terms of Classic Technical Analysis , Bitcoin seems to have succeeded in forming a Falling Wedge Pattern , and an Inverse head-and-shoulders Pattern is possible .
Also, we can see Regular Divergence(RD+) between Consecutive Valleys.
I expect Bitcoin to rise to at least near $60,000 .
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>> Death Cross HappenedBitcoin is moving near the Resistance zone($63,000-$61,450) and the upper line of the Ascending Channel .
Finally, the Death Cross Sell Signal was seen yesterday.
Death Cross Signal : The death cross appears on a chart when an asset's short-term Moving Average(MA) , usually the 50-day, crosses below its long-term moving average, usually the 200-day .
Also, we can see the Regular Divergence(RD-) between Price and Volume .
I expect that Bitcoin will NOT be able to break the Resistance zone($63,000-$61,450) in this attack and at least fall to the lower line of the ascending channel and the Support zone($58,500-$57,140) .
Note: If the Resistance zone($63,000-$61,450) is broken, Bitcoin can rise to $65,000.
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
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Bitcoin could drop under 50k once moreIn a recent post, I mentioned that Bitcoin could rise and potentially reach a new all-time high (ATH). However, for this to happen, the key support at 63,500 must hold.
At the beginning of the month, the NFP report led to a break below this support, causing the price to tumble below 50,000 in the days that followed. After a typical correction, the price climbed back above 60,000, but it was unable to reclaim the broken support level, indicating that further losses could be on the horizon.
My strategy is to sell any rallies near the 60,000 zone, targeting the recent low below 50,000.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC As expected broke below $56,557 support yesterday, currently back above it, $54,363 support held, Could put bullish engulfing on current 1D candle, approaching $58,290 test, RSI on 1D progressive since yesterday, also looks good on 4H. Nest key resistance at $60,629.
Bitcoin Analysis==>>Short-termBitcoin is moving near the Resistance zone($60,800-$56,700) and the Downtrend line .
According to the theory of Elliott Waves , Bitcoin seems to have completed the Double Three Correction(WXY) near the Resistance zone.
From a Classic Technical point of view, Bitcoin seems to have formed a Double Top Pattern .
Also, we can see Regular Divergence(RD-) between Consecutive Peaks .
I expect Bitcoin to drop to at least $52,600 .
Bitcoin analysis on the daily time frame 👇
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>>Death Cross!?The fall of Bitcoin in the last 3-4 days has shocked everyone, first, let's take a look at the reasons for this fall :
The publication of the US employment report and the increase in the unemployment rate to the highest level in the last 3 years .
Tensions in the Middle East , the possibility of a confrontation between Iran and Israel in the coming days.
Rumors of selling Jump Trading's assets .
The Nikkei index of the Japanese stock market today fell 3,595.30 units , equivalent to -10.01% , to experience the heaviest daily decline in its history since October 1987 .
The Cryptocurrency Fear and Greed Index hit its lowest level since early July , indicating panic in the market. However, I think the Fear and Greed index will enter the Extreme Fear zone in the coming days.
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Now, let's take a look at the Bitcoin chart on the daily time frame .
Bitcoin managed to break the Support zone($60,800-$56,700) which is shown on the chart with the Resistance zone. Also, Bitcoin has broken 200_SMA(Daily) , 100_SMA(Daily) , 200_SMA(Daily) and 21_SMA(Weekly) , which is NOT a good sign for BTC.
Most likely, the Death Cross Sell signal by Bitcoin will happen.
Death Cross Signal : The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day , crosses below its long-term moving average, usually the 200-day .
From the point of view of Classic Technical Analysis , it seems that according to the momentum of Bitcoin's fall in the last 3-4 days, the continuing Descending Broadening Wedge pattern will fail, which could be a sign of the further fall of Bitcoin .
Looking at the USDT.D% chart , we can see that USDT.D% will probably increase again after a correction and attack the Resistance lines .👇
According to the explanation above, I expect Bitcoin to attack the Heavy Support zone($49,000-$38,500) again after the correction , probably near $59,000-$60,000. If the Support line is broken, we should expect Bitcoin to fall to $42,000-$43,000 .
Note: If Bitcoin can stabilize above the resistance zone, we can expect Bitcoin to rise again, but due to possible tensions that will happen in the Middle East in the coming days, this scenario is less likely to happen.
Note: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
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$BTC Daily UpdateCRYPTOCAP:BTC #BTC Nose dived to $52,529 support! RSI on 1D and 4H both in oversold region awaiting sign of reversal. Last 4H close looks good, $56,557 key support to be regained which will resist, $50,552 next key support from here, and $48,362, $46,979 if drops further. No clear sign of reversal yet, watch given S/R
Bitcoin can Go Up Temporary!!!==>>Short termBitcoin and other tokens faced a sharp drop in price following unfavorable US economic reports and the possibility of tension between Iran and Israel .
Bitcoin fell below $60,000 for the first time in recent weeks. The publication of the US employment report and the increase in the unemployment rate to the highest level in the last 3 years have been the main factors of this fall in previous days. The withdrawal of capital from Bitcoin ETFs and failure to maintain key support zones also fueled this downward trend, and strong selling pressure in the market also provided the conditions for further price reduction.
First of all, I must say that this analysis is short-term , and Bitcoin's trend can continue to be bearish if it does not stabilize above the 21_SMA(Weekly) .
Bitcoin is currently moving in a Heavy Support zone($61,760-$58,400) .
According to the theory of Elliott waves , it seems that a 5th downward wave has been completed and we should wait for corrective waves .
Also, we can see Regular Divergence(RD+) between Consecutive Valleys .
I expect Bitcoin to rise to at least $61,900 .
Note: Because the tension in the Middle East is increasing, especially after 20:30 UTC, try to keep an eye on long positions and make sure not to forget capital management and Stop Loss(SL).
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
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Bitcoin Analysis==>>Fifth Attack to Resistance linesBitcoin is currently moving near important Resistance lines and a Potential Reversal Zone(PRZ) . This is the fifth time that Bitcoin has attacked important Resistance lines .
I expect Bitcoin NOT to break the Resistance lines for the first time in the 5th attack .
Also, we can see Regular Divergence(RD-) between Consecutive Peaks .
Also, I expect that Bitcoin will at least fill the first CME Gap($68,700-$68,270) , and if the Uptrend line breaks, we can expect Bitcoin to go down to the Support line and possibly fill the second CME Gap($66,350-$65,835) as well.
Bitcoin Analyze (BTCUSDT), 1-hour time frame⏰.
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It's imperative for bulls to hold 63.500
In my weekend analysis, I mentioned that BTC looked bullish across all time frames. The beginning of this week was promising for BTC, but enthusiasm faded at 70k, and the price started to decline.
Currently, the price is at 64k, just above the 63,500 support level. This support is crucial for the medium-term price evolution. If the bulls cannot maintain the price above this level, we might see a drop below 60k, potentially negating my prediction of 100k by the end of the year.
At this moment, I'm neutral on BTC. If the price breaks below the support, I will exit with a loss. Only a return to the 68-69k zone would bring some optimism back.
Annual Bitcoin Conference 2024==>>ExpectationsBitcoin moved as I expected in previous posts . The question here is whether the upward trend of Bitcoin continues or not!?
I apologize for the that the chart is a bit busy. I think all was needed😊.
🌐 Breaking News : As I was writing this post, the breaking news was that Joe Biden withdrew from the US presidential election, which can shock financial markets. 🌐
Bitcoin is currently moving in the Resistance zone($68,000-$66,170) and Ascending Channel .
According to the theory of Elliott waves , Bitcoin seems to have completed the main wave 3 in the resistance zone , and now we have to wait for corrective waves .
Also, we can see Regular Divergence(RD-) between Consecutive Peaks .
In addition, if we look at the USDT.D% chart , we will notice that USDT.D% is near the Lower line of the Ascending Channel and the Support zone , which I expect USDT.D% to have a little upward trend in the coming days, which will also correct the cryptocurrency market.
As a result, corrective waves can continue until the start of the annual Bitcoin conference 2024 , and if Bitcoin breaks the Support lines , the Support zone($64,000-$62,280) , 100_SMA(Daily) and 21_SMA(Weekly) , we can wait for the CME Gap($60,845-$57,895) to be filled.
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Now, let's get some information about the Annual Bitcoin Conference .
The Bitcoin Conference(started in 2011) is an annual event where industry leaders, developers, and enthusiasts gather to discuss the latest advancements in Bitcoin and blockchain technology. The conference features keynote speakers, panel discussions, and networking opportunities, providing insights into the future of cryptocurrency, regulatory issues, and innovations in the space. It's a key platform for sharing knowledge, exploring new ideas, and connecting with others in the Bitcoin community.
My review from 2017 is that the market cap of the cryptocurrency is considerably higher than in the years before 2017.
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The year 2017:
Date: May 22-24
The main market trend: Bullish
Bitcoin changes during the conference(%): +7.66%
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The year 2018:
Date: May 14-16
The main market trend: Bearish
Bitcoin changes during the conference(%): -4.27%
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The year 2019:
Date: May 13-15
The main market trend: Bullish
Bitcoin changes during the conference(%): +11.87%
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The year 2020:Covid
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The year 2021:
Date: June 4-5
The main market trend: Bearish
Bitcoin changes during the conference(%): -5.6%
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The year 2022:
Date: April 6-9
The main market trend: Bearish
Bitcoin changes during the conference(%): -6.89%
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The year 2023:
Date: May 18-19
The main market trend: Bullish(in correction)
Bitcoin changes during the conference(%): +2.00 %
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The year 2024:
Date: July 25-27
The main market trend: Bullish(in correction)
Bitcoin changes during the conference(%): ❗️❓ %
What do you think about the annual Bitcoin conference in 2024? Will Bitcoin continue to rise?
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It can be concluded that when the general trend of the market is bullish , Bitcoin has increased during the annual Bitcoin Conference, this review is only based on past data. Another point is that Donald Trump will probably speak at this conference this year, so Bitcoin probably increase in the two days of the annual Bitcoin conference 2024.
But before holding the annual Bitcoin conference in 2024, we can wait for Bitcoin correction.
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Bitcoin Analyze (BTCUSDT), 4-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
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Bitcoin Analysis==>>Bat PatternBitcoin is currently moving in an Important Resistance zone($68,000-$66,170) , which it has tried to break several times.
It also seems that Bitcoin has succeeded in forming a 🦇 Bearish Bat Harmonic Pattern 🦇.
I expect Bitcoin to drop to at least the Lower line of the Ascending Channel .
Bitcoin Analyze (BTCUSDT), 15-minute time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
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Bitcoin will go up again==>>Short termBitcoin made the corrections I had expected in previous posts .
Bitcoin is moving near the Heavy Support zone($63,410-$62,280) and Support lines .
I expect Bitcoin to rise by touching the Support lines and Support zone($63,520-$63,240) .
Bitcoin Analyze (BTCUSDT), 15-minute 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.
Ether's BTC-Denominated Price Flirts With 9-Year-Long Trendline Ether's and bitcoin-denominated market price, the ETH/BTC ratio, is flirting with a bullish trendline drawn from 2016 and 2017 lows, offering hope to bulls on the second-largest cryptocurrency by market cap. Since January, the trendline has consistently restricted the pair's downside in a pattern reminiscent of 2019-20. Back then, it served as an accumulation zone, eventually leading to a renewed bull market in the first half of 2021, as shown by a chart sourced from TradingView. A monthly chart of moving average convergence divergence (MACD) histogram, an indicator used to gauge trend strength and changes, favors
Ether's BTC-Denominated Price Flirts With 9-Year-Long Trendline Ether's and bitcoin-denominated market price, the ETH/BTC ratio, is flirting with a bullish trendline drawn from 2016 and 2017 lows, offering hope to bulls on the second-largest cryptocurrency by market cap. Since January, the trendline has consistently restricted the pair's downside in a pattern reminiscent of 2019-20. Back then, it served as an accumulation zone, eventually leading to a renewed bull market in the first half of 2021, as shown by a chart sourced from TradingView. A monthly chart of moving average convergence divergence (MACD) histogram, an indicator used to gauge trend strength and changes, favors
Bitcoin- Buy and hold on dipsIn my recent BTC post, I mentioned that the break below $60,000 is most likely a false one.
This proved to be correct, and the price has returned towards the important $70,000 zone.
At this moment, BTC could enter a correction phase from the recent upward movement.
This correction should be seen as a buying opportunity, potentially leading to a new all-time high this year.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC $66,961 support in effect and testing, $68,546 resisting here, previous 1D close looks good, $66,323 key support here, $69,296 support required to test $71,379-$71,981. Currently forming bearish engulfing on 1D, if bearish engulfing played out expect $66,323 test.
Bitcoin is Ready to Attack to Heavy Resistance zoneBitcoin moved as I expected in yesterday's post and managed to break the descending channel and Resistance zone($65,500-$64,850) .
According to Elliott's wave theory, Bitcoin is completing the main wave 5 .
I expect Bitcoin to start rising again after the minor correction and attack the Heavy Resistance zone($67,930-$66,160) .
Do you think Bitcoin will break the Heavy Resistance zone($67,930-$66,160)❗️❓
Bitcoin Analyze (BTCUSDT), 15-minute 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.