Bitcoin -> Consolidation Breakout!?Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin 💪
A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.
Furthermore you can also see that weekly market structure is bullish with Bitcoin creating higher highs and higher lows so there is no reason why Bitcoin should actually reject the previous resistance zone once again towards the downside.
With Bitcoin once again retesting previous daily support we could see another rejection towards the upside but this is definitely a coinflip trade so I am now waiting for a clear range breakout and then I will look for a buy trading setup.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
Btcusdtlong
📈Bitcoin prediction, 26K or 31K? 📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders
Due to the decrease in trading volume in the last few weeks, I'm going to do some weekly Bitcoin analysis.
In the next few days, Bitcoin is expected to return to the $31,000 range if it holds above the indicated areas.
If the price breaks below the mentioned areas, the price will drop to the level of 28,150 and then 26,500.
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Bitcoin goes UP by Descending Broadening Wedge Pattern🚀(15MIN)Bitcoin is moving in the 🟢 support zone($29,850-$29,480) 🟢.
Bitcoin has also managed to form Descending Broadening Wedge Pattern in the support zone.
In addition, there is a Regular Divergence (RD+) between two successive valleys.
🔔I expect Bitcoin to go UP at least to the 🔴 resistance zone($30,480-$30,360) 🔴 ⚠️ after ⚠️ breaking the upper line of the Descending Broadening Wedge Pattern .
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🌐➕ Positive News ➕🌐:
New Bitcoin addresses hit yearly high.
Telegram CEO Pavel Durov says that he owns some Toncoin and Bitcoin.
Robinhood Eyes UK Market with New Hirings Already Underway.
Coinbase CEO Brian Armstrong to Meet House Democrats About Crypto Legislation: Bloomberg.
Bullish Bitcoin Signal: SEC Acknowledges Another ETF Proposal.
🌐➖ Negative News ➖🌐:
Binance cuts back on employee benefits, citing ‘decline in profit’: Report
Reserve Bank of India Deputy Governor: Stablecoins are dangerous for emerging economies
US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road
Hackers.
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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 be glad to see your ideas in this post.
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#BTC 🟢 M15. Long. (#BITCOIN)Range H4, within which the price has been moving stubbornly for more than three weeks.
After the enchanting liquidation of all longists by one hourly candle (who expected continued growth above 31K), an imbalance formed at the lower boundary of the H4 range, which I decided to take into work.
But he predicted the development of events for Monday, when all markets will be active and volumes will come in.
The long-awaited entry point, I did not expect that there would be an activation on the weekend, but it happened :)
M15 unbalance test, and instantly backlash like a spring to the first target.
The entry point is excellent, the price movement potentials are good.
I will close the targets within the H4 range and a little higher, at the unclosed potential of the previous H4 range (31744)
Another target as an experiment (additional order) is 34400.
Since something tells me that this will be the last long in our current H4 range, after which the price will break through it and fly to test the resistance of D1.
The price has gone under the First Buyer of stock options very much. (and this is currently 31500)
The buy price is below the market opening price. (✔️)
The purchase price is at the lower boundary of the H4 range. (✔️)
The purchase price is below the volume bearish candle. (✔️)
M15 Unbalance at the lower limit of the range H4. (✔️)
entry point: 30160 (on imbalance test)
stop: 29971
tp1: 30345
tp2: 30724
tp3: 31121
tp4: 31744
tp5: 34400
Bitcoin to 34000BINANCE:BTCUSDT
Possible Targets and explanation idea
➡️We trade in a range. After deviation at the bottom we made a deviation at the top
➡️Now would be good to see sweep liquidity at 29630
➡️Main target is full fill of next Weekly gap above.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
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• Look at my ideas about interesting altcoins in the related section down below ↓
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BTC's Profit Potential: MACD Turns Positive on 4-Hour ChartWhile it is essential to exercise caution and conduct thorough research before making any trading decisions, this positive MACD signal suggests that the market sentiment for Bitcoin is shifting towards a potential uptrend. Notably, no indicator can guarantee future price movements and the cryptocurrency market is highly volatile. Therefore, managing your risk and considering your trading strategy carefully is advisable.
Considering the potential profit potential indicated by the MACD turning positive, I encourage you to closely monitor the Bitcoin market and consider adding new market orders judiciously. It is essential to approach this opportunity cautiously, ensuring a well-defined entry and exit strategy. Additionally, I recommend setting stop-loss orders to mitigate potential losses and protect your capital.
Please remember that the cryptocurrency market can be unpredictable, and it is always wise to seek advice from financial professionals or conduct thorough research before making any investment decisions. Stay informed about the latest market trends and news to make well-informed trading choices.
In conclusion, the recent positive MACD signal on the 4-hour chart indicates potential profit opportunities in the Bitcoin market. However, it is crucial to approach this opportunity with caution, carefully managing risk and adhering to your trading strategy. Remember that no indicator can guarantee future price movements and the cryptocurrency market carries inherent risks.
Consider adding new Bitcoin market orders based on the positive MACD signal on the 4-hour chart. Ensure you have a well-defined entry and exit strategy and set stop-loss orders to manage risk effectively. Stay informed about the latest market trends and news to make well-informed trading choices.
BTCUSDT at 4h support, likely to head to at least 31166And so the price has finally come to our entry for the long trade after almost waiting for a day. The price has hit the 4h support 4HS1 and likely to bounce here. I expect this bounce to head towards 4h resistance 4HR1 and making a long favorable here. The target of this long should be at least 31166.
BTCUSDT heading for 4h support, long favorable from there A new long idea on this one. The price is currently trading in 4h resistance zone 4HR1. I expect the price to retrace to 4h support 4HS1 level. A long will be favorable from there towards 31396 area. There is a support around 31066 area and price may experience some bounce there but I hope that the bounce will not be big and the price will continue to retrace to the next support 4HS1 and in turn providing the entry for our long trade.
BTCUSDT back to previous resistance, likely to head up to 31236The price was rejected from the 4h resistance 4HR2 on this push to the upside. It was pushed back down from that resistance to the previous 4h resistance 4HR1 which may act as a support now. I think a long is favorable from the 4HS1 support towards the 4HR2 and a bit above. Lets try this long.
BTCUSDT to head towards 4h resistance around 31136-31236BTCUSDT has been trading in a new range after breaking up from the previous range. Now it has formed a new support zone 4HS1 which is a good level to long from. I believe this time price will break the range high resistance 4HR1 and proceed towards 4h resistance 4HR2. Therefore a long is favorable here towards 31136-31236 zone.
BTC - up or down?BINANCE:BTCUSDT sitting at $30500
Market update:
BTC is accumulating, and its looking strong. We will see a breakout to one side or the other within the next 7-12 days I guess. But whenever it happens, and whatever direction it takes, down or up, doesn't matter: alts will suffer.
I am more bullish than bearish and I assume the move will be to the upside. I can imagine btc rising to 35-36k, followed by a selloff, retesting the 31.5k area and then moving sideways between the 32k and the 35/36k. 2 or 3 quick pumps to 38k from there wouldn't surprise me. As soon as btc breaks 41-42k a move to 47k can happen withing hours and will likely get sold as quick as the pump has happened before.
In case BTC dumps below 29.8k we could see a bounce at 29.1k, If not anything is in the cards, it would take a big volume drain tho.
Back to the current situation.
The reason why I don't expect the bigger BTC move immediately is that we haven't seen any huge alt moves yet. The market needs to see money moving from weaker hands to stronger hands before. Whales need to make some money in alts to put it into btc.
There are a few altcoins holding stronger than others. Most of my picks are among them. I am talking about CRYPTOCAP:INJ , FWB:TAO , BME:NTX , OTC:ATOR and a few more ( BME:IAG and LSE:TRAC -BRC20 etc.). Will make a separate post about alts.
If BTC drops below 29k it's hard to say what will happen, it depends on why the price dropped in the first place. If the SEC or another agency fires another torpedo, that could happen, but lately, altcoins have tended to be hit by those cluster bombs.
At this point, I want to point out NASDAQ:STX again, which is currently around $0.65. STX is an SEC-approved coin on BTC, and it even rewards stakers in BTC. The team doesn't have to contribute much at all, the price should still rise if word gets around, because there aren't many ways to earn BTC passively.
My actually bullish view of BTC is only affected by one detail: the many euphoric price predictions by institutions or people close to institutions. Every day you hear about 100k, 200k BTC in 2024. This usually happens when the whales want to unload their bags. If true we could also drop to 20k and below as a 50% dump (to 15k) would mean a 2x on a return to 30k and whales only miss that if they see serious buying pressure to the upside.
Keep in mind that a 15k to 30k pump is equivalent to a 30k to 60k surge.
So: The ETF narrative could be a trap. But I am cautiously bullish.
DON'T MISS this BTC, another rideIf you're new here check out my previous set ups on BTC and make sure you don't miss this
So we have a bullish pennant that is currently been retested, however i expect that BTC will test the liquidity point at 30k/ 30100 before we can fly and create a new year high.
Even though there is a strong probability that it will range from 31400 to 29700, doesn't mean we can't scalp or long for a potential break.
so i will be buying at 30100/ 30090
stop loss of 29500
See you at 36k
BTCUSDT. Consolidation.Hello everyone. I want share my idea about Bitcoin.
We saw massive move couple weeks ago on bitcoin, came to 2023 High and start consolidation.
In my opinion bitcoin still have power for brake that resistance and continue moving up. for that we need to look 2 different LVL which is at 29500 and 31300.
For me consolidation is the best for trade but when you have bullish trend the best open position is low key at the moment 29500.
I think next week Bitcoin will show real direction and brake support or resistance, BUT WE NEED TO BE CAREFULLY. usually Market makers make false brake outs when price consolidating. For that this is my price prediction with scenes.
1 Bullish Scene - Price coming to close resistance which is at 31300, brake that resistance with bullish candles then coming back to retest and here will be my long position entry.
2 Bearish Scene - Price brake support LVL at 29500 with Strong bearish candles, then it coming for retest and here will be my short position open.
BE PATIENT!!!!
BTCUSDT--34K or 25K ??Observations:
If we see on the weekly chart the previous demand zone is clearly resisting the price to go up.
on bottom side price has taken the support from previous supply zone/Resistance Acts as support and price moves up.
Weekly analysis...
Daily Analysis::
If we see on daily analysis...the price is in a range from few days...
the previous supply zone is resisting the price to gg down.
If price breaks this zone then only we have a chance of short oppurtunity...
A rally base rally is going to observe if price breaks this range, on upside.
No retest is observed after breaking the trendline as well...if it wants to test this 34000 wants to acts as resistance.
BTCUSDT - Bullish Daily Cross ❕Hi Traders, Investors and Speculators of Charts📈📉
About a week ago, we took a look into the Technical Indicators of BTC and at the time, I concluded that it is MOST DEFINITELY the start of another bullish cycle, as seen here:
Something that I was particularly focusing on was the daily bullish cross on the technical indicator, and that has since happened. In previous instances, the price of BTCUSD went up tremendously after such a cross was observed in the daily timeframe, as pointed out on the two dark charts.
In other words, I am expecting more bullish price action for BTCUSDT with my first short term target being around $34K.
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CryptoCheck
BINANCE:BTCUSDT BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:BTCUSDT.P INDEX:BTCUSD BYBIT:BTCUSDT.P CRYPTOCAP:BTC.D
BTCUSDT heading to daily support, long favorable from thereI expect the price to head towards daily support DS1. The price is currently trading between 4h resistance 4HR1 and daily support DS1. A long will be favorable from the daily support zone DS1 if the price hits there. Lets see when and how we reach there. The tarrget of this trade should be first 4h resistance 4HR1 and then 4HR2.
Elliott Wave 5 Signals Lower Target, but Expects BTC Bounce
As a cautious Bitcoin trader, staying informed and adapting your strategies is crucial.
Based on recent analysis using Elliott Wave theory, Bitcoin's price appears to be entering the fifth wave of its current cycle. This wave suggests a lower target in the near term, which may cause some concern among traders. However, it is essential to note that the Elliott Wave theory predicts a subsequent big bounce rally.
While we cannot predict the exact timing of these market movements, it is essential to approach this situation from a long-term perspective. Despite the potential for a short-term dip, the overall trend for Bitcoin remains positive. Cryptocurrency has repeatedly proven its resilience, overcoming various challenges and establishing itself as a legitimate store of value.
Therefore, I encourage you to consider holding onto your Bitcoin investments for the long term, even after the anticipated dip. By doing so, you can benefit from the potential bounce rally that often follows such corrective waves. Remember, successful trading requires patience and a focus on the bigger picture.
It is worth noting that market conditions can be unpredictable, and it is always wise to diversify your investment portfolio. While Bitcoin has shown tremendous potential, it is essential to consider your risk tolerance and financial goals when making investment decisions.
As always, I recommend staying updated with trusted sources' latest market analyses and trends. This will enable you to make informed decisions and navigate the ever-changing landscape of cryptocurrency trading.
If you have further questions or concerns, please do not hesitate to ask in the comments. I am here to support you on your Bitcoin trading journey.
Remember, successful trading requires a long-term perspective. Despite the potential short-term dip, Bitcoin's overall trend remains positive. Consider holding onto your Bitcoin investments long-term, even after the anticipated drop, to benefit from the likely bounce rally that often follows corrective waves. Stay informed, diversify your portfolio, and make informed decisions based on your risk tolerance and financial goals.
BTCUSDT to head towards 4h resistance 31136-31236The 4h resistance 4HR1 is holding the price back. The price was pushed back down from that resistance zone towards 4h support 4HS1 after our last trade concluded. After that it has moved up to the resistance zone again and has attempted on LTF several times to go beyond it but everytime it has been pushed back.However, it seems that the resistance will give the way for the price to move higher towards 4h resistance 4HR2. Please keep in mind that this is a short time frame trade analysis. The price for long time frame, I will discuss that in a separate post.
📈Bitcoin looking for a retest, 32K then 35K📉BINANCE:BTCUSDT
COINBASE:BTCUSD
Hello dear traders, after a break, I'm back with my daily analyses of the cryptocurrency and forex market.
Welcome to the second season of my technical analyses.
At this stage, I will be shareing my short-term and medium-term positions on Bitcoin, Ethereum, XAUUSD, EURUSD, and the DXY Index with you.
✌💥If you are satisfied with my analytical content, please share my ideas💥✌
✍🐱👤Otherwise, make sure you leave comments and let me know what you think.🐱👤✍
🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑