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BTC - NEXT: Extremely Overbought, RSI hits 102Hi Traders, Investors and Speculators of Charts📈📉 I'm expecting some more volatility on Bitcoin as the RSI recently 102 which indicates and extremely over bought market. This is also confirmed by the technical indicator. Usually, after such extreme numbers are hit on the RSI, the price needs to "cool down" or retrace before continuing back upwards. This could mean lower price action for a few days ahead. It's vital that we retrace back towards the $32k zone to CONFIRM this as new support, and not a fakeout. Two scenarios I have highlighted on the chart is either straight up to the 1.618 and then the support confirmation, or first support confirmation and then up to 1.618. Either way, I'm bullish on BTC and I'll be looking to take a long from support at $32k. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
BINANCE:BTCUSDLong
by CryptoCheck-
8
Bitcoin Price Surges to $35,000At the time of writing, the Bitcoin price stands at $34,765, showing strong potential for further gains. It currently resides in the mid-range of the market, measured between the yearly low of $16,542 and the high of the year at $35,184. The leading cryptocurrency has doubled its value since the closing price on December 31, which was $16,542. It has surpassed the 61.8% Fibonacci level at $28,067, a significant retracement, and is on an upward trajectory. The resilient push of the recovery has also broken the 78.6% Fibonacci level at $31,197. Increased buying pressure could drive Bitcoin's price further north, aiming for the psychological target of $35,000. In such a scenario, the most reasonable target would be the $35,184 level on the Fibonacci chart. The Relative Strength Index (RSI) is pointing upwards, indicating that momentum is still on the rise. This is corroborated by the Awesome Oscillator (AO), whose bars are also increasing in the positive territory. However, a price downturn might occur if profit-taking activities commence. In such a case, Bitcoin could find support at the $31,197 level or potentially at $28,067. In the most severe scenario, the decline could push the cryptocurrency down to $25,869.
BITSTAMP:BTCUSD
by Gwen_Humuna
Celebrating the Astonishing Rise of BTC! 🚀 Can you believe it? BTC seems unstoppable as it continues its upward trajectory, defying expectations and leaving us in awe. It's truly a remarkable time to be a part of the cryptocurrency world, and I couldn't be more thrilled to share this moment with you all. Now, let's talk about what this means for us as traders. The recent surge in BTC's value presents an outstanding opportunity for those looking to capitalize on its upward momentum. It's time to consider taking a long position and ride this wave of success! Here's why you should consider joining the long BTC camp: 1. Unprecedented Growth: BTC's recent rally has showcased its ability to break through resistance levels and reach new heights. By going long, you position yourself to benefit from potential future gains as BTC continues its upward journey. 2. Market Confidence: The surge past $34,000 demonstrates the growing confidence and trust investors have in BTC. This positive sentiment can fuel further growth, making it an ideal time to enter a long position. 3. Diversification: By adding BTC to your portfolio, you diversify your investments, reducing risk and increasing the potential for long-term profitability. 4. Expert Insights: Renowned analysts and experts are predicting even greater heights for BTC in the near future. Their forecasts, combined with the current market sentiment, provide a compelling case for going long on BTC. So, my fellow traders, I urge you to seize this opportunity and consider taking a long position on BTC. Let's make the most of this exhilarating moment and embark on a thrilling journey together. Remember, fortune favors the bold! If you're ready to join the long BTC camp or have any questions regarding this exciting development, don't hesitate to comment below. I'm here to support and guide you through this exhilarating time. Wishing you a prosperous and joyous trading journey ahead!
BITSTAMP:BTCUSDLong
by bryandowningqln
The Four Reasons I'm Long On BitcoinOn the weekly timeframe for CRYPTOCAP:BTC : - A candle closed above the downwards trendline (Forming a bull flag), indicating strength in buyers - The MACD indicator had a crossover on the weekly timeframe - Price has been respecting the 21 EMA in the last few weeks. All of my favorite setups include EMAs! - There seems to be a potential Cup and Handle pattern forming. - And obviously ... The news about an ETF for CRYPTOCAP:BTC seems very bullish and I can see this continuation! Given these four reasons, I am bullish on CRYPTOCAP:BTC Stop Loss / Take Profits Stop loss: My stop loss on this trade is pretty tight. I put it at a break of low of this week. However, I might wait for a close on the low! Take Profits: All of these take profits are set at levels that were areas where there was previous heavy selling pressure. My plan would be to scale out half of my position at TP1, 1/2 of the remaining position at TP2, and fully out at TP3 Let me know what you think of this trade!
BITSTAMP:BTCUSDLong
by fluxchart
Everyone sees this pattern on BTC chart, but will it work out ?Today, we're going to look at several scenarios for possible Bitcoin price movements. Let's start with the fact that our previous trade for BTCUSDT hit the breakeven stop yesterday. Although this trade showed +7.5% at its maximum and 2.5% to take profit, we recorded a +0.7% result. We hope that someone else managed to make better use of this trade and record a higher profit. The triggering of a stop order makes it necessary to analyze the chart on a larger time frame and consider various possible scenarios in the future. Head and shoulders is a global trend reversal pattern. Probably, most people looking at the BTCUSDT chart now will be able to see something similar to the probability of H&S formation. However, there is an important note: the final confirmation of this pattern will come only after the price of BTCUSDT breaks through and fixes below the "neck of the pattern", i.e. below $24600-25300. Therefore, it is very important to wait for the confirmation of this pattern. Here's an example from 2020 when the same pattern was drawn twice, once it deceived, and the second time it worked: And it is very likely that the first time, novice traders did not wait for the pattern to be confirmed and open short position above the neckline and suffered a loss on the upside. And the second time, they suffered a loss by taking longs, because they thought that the pattern didn't work at all, as it had already happened a few weeks earlier, and the pattern worked out well after confirmation. As the BTC price drops, we will analyze the market situation at the moment and look for a range to enter longs. At the moment, this range starts from $25300 (if buyers do not allow the low to be updated) to $24600 (if sellers manage to break the stops that are hidden behind the two previous neckline lows). So, if you like the way we think, comment on this idea, like and subscribe to us. And you will receive a notification from Tradingview that we have updated this idea and published a "fresh" trade . If the price of BTCUSDT does consolidate below $25000, then there is a good chance that the pattern will work out. The target for this pattern is around $19700. But for now, at least for us, this is too obvious an option that everyone can see. But unfortunately or fortunately, "everyone" cannot make money in the market, can they?)
BITSTAMP:BTCUSD
by P_S_trade
37
BTC bullish vs bearish scenariosBTC / USDT After rumors of SEC approved Bitcoin ETF yesterday, price pumped hard and then most of the pump is absorbed … right now BTC at very decisive area : 1- The Bullish scenario: Since 2021 the key level (31-32k)is a very strong level, a breakout and stability above is a bull signal and will confirm double bottom pattern 2- The Bearish scenario: completing the head and shoulders pattern and dropping below 25k will lead to further correction “if happened I believe it will be the last correction” What is the most likely scenario for you and why ? All questions and opinions are welcomed Share with me below ⬇️
by Babenski
48
Market Symmetry show BTC dipping before pumping to 34kNOTE: Following is interesting stuff but don't take this seriously as this is just for fun. I love market symmetry and use it to make models that predict what certain assets may do next, it works as long as model and symmetry remains intact. Chart is self-explanatory, but still there is a lot going on so let me break it down. This story began on 12th September as you can see on the left most part of the chart. That is when the current uptrend began and BTC started moving symmetrically on several parameters which are described below. 1. Time spent at the lows before making move that breaks Market structure: From 12th September lows to the present lows at 26500 the time BTC consolidated at the lows kept on increasing but in a symmetrical fashion. As you can see in the chart on the 12th September lows it spent 7 bars , on the 24th September lows it spent 16 bars and on the 11th October Lows it spent 23 bars. So, we can deduce a pattern here. 7, 16 , 23 , the next number in the series should be 29. Each number in this series is derived by adding a number from another series 9,7,5,3 .... 2. Time taken from the previous lows to the next highs is constant, that is approx. 30 bars. 3. Percentage move between each low and the next high is also increasing in symmetrical fashion: First move was 6% highlighted in yellow vertical bars, second move was 10%, 3rd Move was 16% , so logically the next number in the series is 24. Each number in this series is derived by adding a number from another series 4,6,8,10 .... Notice the curve shown in cyan color which I have fitted as close as possible to the highs and the lows. So based on this data, we should get out next low on or around 25th Oct and we should spend around 4days consolidating there, then btc should give us an explosive PUMP to 33500 area which is 24% from the anticipated low at 27K on 25th Oct. We can also make following conclusion based on information presented by above parameters: Volatility on BTC has been expanding gradually over time, which is giving us bigger pumps, but we also notice that the time between each high and low remains constant while time spent at the lows increases every time, this tells us that each time the time it will take to pump to new highs will reduce hence giving us increasingly explosive pumps. The target 33500 is also in confluence with the Cyan Curve in the main chart. It is also the measured move of the following large Diamond BTC has been trading in for a long time.
BYBIT:BTCUSD.PLong
by zakoraio
₿itcoin will go | Trade Analysis BTCUSDHello Traders, here is the full analysis. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity BTCUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
BINANCE:BTCUSDLong
by TheGrove
16
BTC has positive signs- The BTC price increase scenario I presented yesterday was completely correct. However, due to the news, BTC price rose faster and stronger than I expected. Stay tuned for today's BTC commentary! * Image D1 above: Yesterday's candlestick D1 was a strong bullish candlestick with a long top shadow, which suddenly increased in volume and closed half of its amplitude. From a technical point of view, this candle shows strong selling forces on the upside, which have succeeded in pushing the price lower and closing half of the range. However, due to the influence of fake news related to the BlackRock Bitcoin Spot ETF, yesterday's D1 candlestick did not have much meaning in terms of technical analysis. - Overall, BTC's short-term uptrend is likely to continue as it is trading in a new price appreciation channel. * Total3 comments (total market capitalization of virtual currencies excluding BTC and ETH) - Total3 is accumulated in the last part of the symmetric triangular model, which is a bipolar model. However, this model was formed during a very long sideways phase, and the BTC trend is currently very positive. From a personal perspective, I'm leaning towards the scenario where his Total3 breaks the ascending triangle pattern. Therefore, I still believe that there will be a wave of altcoin recovery in the near future.
CRYPTO:BTCUSDLong
by Chart_MasterPro
BTC Hovers at $28,000 with Strong ResistanceAs you may already be aware, BTC has reached an astonishing value of $28,000 with an alarming level of resistance. It was due to a fake story of a Blackrock ETF approval story. It is during times like these when it becomes crucial for us to reassess our strategies and approach trading with caution. In light of the current situation, I strongly encourage each one of you to consider pausing your BTC trading activities momentarily. This is not a call to panic or to suggest that the market will crash, but rather an opportunity to reflect on the potential risks involved. As experienced traders, we understand that it is imperative to exercise prudence and vigilance as we navigate the ever-changing dynamics of the crypto market. By pausing our BTC trading momentarily, we can gain a better understanding of the developing patterns and indicators that may guide our future decisions. It grants us the chance to reassess our risk management strategies, conduct thorough analyses, and seek advice from trusted experts in the field. This brief pause can help us avoid impulsive decision-making and allow us to approach the market with a clear and calculated perspective. As we tread this uncharted territory, uncertainty can be overwhelming. However, it is in these challenging times that we have an opportunity to learn, adapt, and grow as traders. Pausing BTC trading now may potentially save us from unforeseen losses and provide us with a chance to regroup ourselves for the next profitable move. Let us remember that our success as traders is not measured solely by our ability to act swiftly, but also by the wisdom and prudence with which we approach the market. So, take a moment and pause your BTC trading activities, reassess your strategies, and embrace this opportunity to ensure the long-term success of your trading journey.
BITSTAMP:BTCUSD
by bryandowningqln