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BTCUSD - 4HRSimple trading - WE WAIT! Patient pays!! Possible head and shoulders pattern is starting to form on the charts. be patient as this pattern is not confirmed. BTCUSD is still currently in a bullish run breaking out of the daily Inverted head and shoulder pattern. Active target is still 74k We can take advantage of short-term price action like this 4hr head and shoulders. Watch to see if the price creates a lower-low, and look to sell. We need a strong bearish candle to close below the price area of 67,500. Price predictions: Sell at 70800 Sell at 69600 These are just my thoughts, not financial advice.
COINBASE:BTCUSDShort
by nikdobii
Solana at a Pivotal AreaWith respect to Solana I'll say two things. First, and probably in jest, I had no idea Venezuela was important to crypto mining. lol. (reference to the news why crypto rallied yesterday). Second, I am still awaiting signs that price has the intention to follow the purple alternative path. The attached Daily chart shows there is a full count to the upside complete with alternating 2's and 4's. Granted this does not preclude price from subdividing in a manner that extends the previous trend, but in those cases, we should see clear evidence of such. As of this morning, CLEAR, would not be a word I would use to describe the current pattern. C-wave is, however the label I would so far characterise as this current pattern. However, if price can rally into the $194 area, and hold the $179 area on any retrace, and then rally for OMH towards the recent highs I can become open to price moving higher. In lieu of that sort of price action playing out I await clues that price is completing it's minor B wave.
BINANCE:SOLUSD
by maikisch
3
Crypto Market Is Back In UptrendWe have been talking a lot about a corrective price action in the Crypto market for the last couple of weeks. We also shared a lot of free charts, articles and even video analysis, where we mentioned and highlighted a higher degree wave 4 correction within an ongoing five-wave bullish cycle. As you can see today, Crypto market is nicely extending higher as expected, but mostly due to Bitcoin and Ethereum as Ethereum is leading a rally in digital assets because of greater odds of ETH ETF approval. However, now that both of them have space for more gains, even some ALTcoins may follow soon, as Crypto total market cap chart can be now unfolding a new five-wave bullish cycle within higher degree wave (5).
CRYPTOCAP:TOTALLong
by ew-forecast
Bitcoin Rebounds To 65K As Correction May Be OverBitcoin rebounds strongly to 65k area, which can be signal that correction may be over from technical perspective and by Elliott wave theory. We have been talking a lot about a corrective decline in the Crypto market in the past weeks. We also talked about Bitcoin ahead of the halving and we also shared a free chart back on April 15th, where we mentioned and highlighted a higher degree wave 4 correction within ongoing bullish cycle. As you can see today, after a slightly deeper corrective decline, Bitcoin is bouncing strongly which indicates that wave 4 correction may be over at the ideal 38,2% Fibo. retracement near 56k support. So, be aware of a bullish continuation within wave 5 of III that can send the price back to all-time highs towards 75k-80k area, just watch out on short-term pullbacks.
BITSTAMP:BTCUSDLong
by ew-forecast
BTCUSD Massive FAKEOUT incomingUpdate: BULLISH: BTC has hit the monthly and weekly resistance zones. I have taken all profits off the table. ***BTCUSD slated inverted head and shoulders is still currently active. TARGET: 74k BEARISH: Bitcoin could go up in value, but many obstacles might prevent it from reaching or staying above $72,000. These include strict government rules,(U.S. DO NOT LIKE BITCOIN) people's changing feelings,(WHALES) technical issues, competition from other digital currencies, environmental concerns, and the fact that it’s not widely used or easy to use. Always research and understand the risks before investing in Bitcoin. More BEARISH: Bitcoin isn't ready. Do NOT panic and buy for another ATH. Bitcoin isn't ready to crash the markets. The USD will hold. Wait for the price to go back into consolidation before making any more trading decisions. Bitcoin is reacting to the previous week's news... PPI data. Bitcoin just rose $5.1k in a day and still can not manage a higher high on the macro level. Don't believe in the hype... The parabolic phase is not yet ready. Take profits and pay attention to the upcoming news on Weds and Thrus—lots of meetings to discuss how they will neglect the price in Bitcoin. These are just my thoughts, not financial advice.
COINBASE:BTCUSD
by nikdobii
Ethereum Crack"Aliens, an advanced species that have seen hundreds of stars and a few black holes throughout their lifetime, have made contact with humans sending encrypted data. They are masters in the study of the elastic property of TIME throughout the Universe (relative to Gravity), and they are trying to send a message to prove us all, not that time is a construct in the fabric of the Universe, but that they in fact exist, and they are indeed... Intelligence." Trying to crack the code in this splash of wonder I must emphasize that the most relevant element in the whole data set, might be the Blue Curve. For any bulls, I believe this is an important function to cross over, and even though after crossing over the price might still slide lower along it, for lower lows, there is also another prospect of a push towards Level 1 which, again, for the bulls, could be quite important if reached, as it can sustain heavy resistance on the price, of such magnitude that the market can weaken to the point of sliding towards level 2. Potential Support zone. 3 and 4 are intermediary, but not to be ignored as they can provide relevant price action several times if the estimations are correct. The 2 small curves purple and green are also potential support/resistance functions, while the rectangles in this case can act more like milestones as it is possible that the price might want to avoid them up and down like in an obstacle course. If not successful in such journey attempt, they too might become support and resistance areas. Again for the bulls, watch out for the blue curve, and if broken, maybe better to wait for signs of an impulse (low_) correction (higher low_) and a potential push for a higher high. For the bears, this design doesn't predict any bold aggressive downturns, maybe just a balanced descent between the blue and the big purple. Watch out for the price action and the relevant events at the elements if you want to Crack the code, if there even is one...
COINBASE:ETHUSD
by nen
5
Solana Trance DanceWe start the analysis of the potential futures with the white curve. This curve will eventually be bypassed and my first assessment is that it could be broken before the price MIGHT reach the triangle. After the bypass, significant support needs to be encountered in order for a bullish scenario to be validated or at least taken into consideration. For potential support zones we have most of the the elements in the snapshot, and going through them we have the following: The purple curve. For the price to completely stay above the purple it needs a more robust bullish push and sentiment/mood, but even if it becomes resistance when/if broken down, we have price level 2, the green marked level of 139, and again, the big triangle. Looking for potential rebounds at any of these levels to consider the whole concept of the project as a candidate for success. (even if it is a break and a retest of any of these) On the up, we have the 1 price level which could act as resistance, potentially triggering a correction towards 2, or other elements where it would be ideal to find support: green rectangle, purple curve, or even level 3, and last but not least -> the triangle. Also on the up if the purple rectangle acts like a zone of influence for resistance or consolidation, hopefully these forces might disappear and let the price slide up as the rectangle ends. For the last note, it is wise to be more flexible, not get caught up on a specific scenario, and just watch the market and the price action and look for signs of what could happen in a different tune than what we hope. With that being said, ALL ELEMENTS in the project can or could act as support AND resistance, meaning that if a bullish scenario doesn't hold ground, any of these shapes could provide a turning point and reversal or change in tune. Hopefully the overall design of it will prove relevant, and the price will act in certain ways near these objects, making it easier to navigate on the Solana River into the future wherever it may take us, on the path of least resistance, similar to a Trance Dance. Party like it's 1999. But where? Bermuda? Havana? Turkey? or Shamballah? I hear the Moon is freezing cold but some might want to go there anyway. :)
COINBASE:SOLUSD
by nen
2
BTC - short-term, medium-term, and long-term trading planHello, traders and investors! This is Shark, and today we'll discuss trading plans for the BTC asset. This trading idea includes long-term, medium-term, and short-term trading plans. Long-term plan (pink): On the global chart, an ascending channel has formed with a 1000% step. The maximum from December 1, 2019, reached at 19666, formed support in November 2022. The asset's price is currently near the global maximum at 69000. Pay attention to the duration of previous ascending cycles: the first cycle in 2017 lasted 184 days, and the next one - 365 days in 2020. It can be assumed that the current cycle will last two or three times longer, meaning a minimum of 800 days. Medium-term plan (blue): Local levels are taken from the weekly timeframe - correction channel levels! The maximum of the current upward trend is 71754. The constant technical value of ATR (average true range indicator) is about 49%. After the price passes this ATR, flats and sideways movements are observed! The medium-term possible scenario is a price decline to 52884 and further growth to global highs around 183000 per bitcoin. Short-term plan (yellow): On the daily chart, local channels with a 49% step are visible. The price movement's ATR is within 22% - daily movement stop levels split local channels in half. It's important to note the ascending trend line drawn from the September 23 minimum - as long as the asset price remains above it, an aggressively ascending trend is maintained. A second trend line with higher amplitude is drawn, the price has repeatedly confirmed this trend and is currently near it. If the level of 60760 holds as support, a 22% rise to the global maximum of 73000 is expected, confirming the continuation of the upward trend. If the level of 60760 is breached in the coming days, the path to values of 52884 will open. If you liked the overview and want more similar content - hit like! Share your opinion on this asset in the comments below! Don't forget to subscribe to the channel to stay updated. Thanks for watching, see you soon!
BITSTAMP:BTCUSDLong
by SHARK1318
Can ETH Outperform BTC?ETHBTC is one of those charts, which can be telling us that volatility is near. Loking at the daily price chart, it can be actually finishing a larger (A)-(B)-(C) correction, currently seen in final stages of the wedge pattern within subwave 5, with ideal swing zone here around channel support line , 0.045 – 0.040 area. So, as we have been talking about for a while, BTC.dominance might slow down and ALTcoins may kick in, so ETH may try to catch Bitcoin soon. Just keep in mind that the first bullish evidence for ETHBTC is only above 0.061 region.
Long
by ew-forecast
Could price drop from here?Bitcoin (BTC/USD) has just rejected off the pivot which acts as an overlap resistance and could potentially drop to the 1st support. Pivot: 63,223.31 1st Support: 60,588.92 1st Resistance: 65,521.94 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:BTCUSDShort
by ICmarkets
1
Falling towards 61.9% Fibonacci support, could it bounce?BTC/USD is falling towards a support level which is a pullback support that lines up with the 61.8% Fibonacci retracement and could potentially bounce from this level to our take profit. Entry: 59,747.26 Why we like it: There is a pullback support level which lines up with the 61.8% Fibonacci retracement. Stop loss: 58,396.57 Why we like it: There is a pullback support level which aligns with the 78.6% Fibonacci retracement. Take profit: 62,037.46 Why we like it: There is an overlap resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:BTCUSDLong
by VantageMarkets
HODL with a TwistCME: Micro BTC Futures ( CME:MBT1! ) Federal Reserve monetary policy is the dominant market mover across asset classes. Financial markets around the world rise and fall by any hint of the next policy move. Last Friday, US stocks jumped after a weak April jobs report boosted hopes that the Fed could start cutting interest rates soon. The Dow Jones Industrial Average gained 450 points, or 1.18%, to 38,675. The S&P 500 surged 1.26% to 5,128, while the Nasdaq Composite rallied 1.99% to close at 16,156. The nonfarm payrolls report, released by the Bureau of Labor Statistics, showed 175,000 jobs gain in April, below the 240,000 jobs expected by Dow Jones economist survey. The unemployment rate edged up to 3.9%, versus 3.8% in March. After the jobs report, traders now price in a second rate cut by the end of 2024. Fed funds futures trading data suggests a 66% likelihood of a 25-basis-point rate cut in September, according to the CME Group’s FedWatch tracker of futures market pricing. Don’t Pinch Your Hope on More Rate Cuts Investors often attempt to front run the Fed’s decisions. Track records show that they are usually wagering the wrong bet. As recently as last December, they expected seven rate cuts in 2024 and pushed major stock indexes to a series of new record highs. Lately, the rebounding inflation ditched the hopes for early rate cuts. Before last week, market consensus was down to one rate cut in 2024, with talks of no cut and even a rate hike. In my opinion, investors speculating on rate cuts overlooked a key factor, the 2024 US Presidential Election. With election day less than six months away, the Fed would be cautious with abrupt policy moves. They tend not to shift policy directions ahead of the election, just to stay clear of any accusation of influencing the result in any way. Many investors pinch rate cut hopes on the assumption that the Fed would ease rates to help the current Administration get reelected. They failed to understand that the Fed Chair is not a cabinet member. He reports to the Congress, not the President. The Federal Open Market Committee, the rate-setting body, is not a department in the Executive Branch. It was founded by the Congress and will report to the Congress only. The Fed has kept the rate higher for longer than many of us expected. Since the last rate hike in July 2023, they kept the Fed Funds rate unchanged in the past six meetings. Borrowing costs, including mortgage rate, auto financing, credit card and business loan, have all been pushed up significantly in the last two years. One or two rate cuts would not materially lessen the cost burden incurred by households and businesses. Despite headwinds and signs of the US economy cooling off, US stocks are currently priced near their all-time high levels. It is not a good time to jump in and chase the high prices. On the other hand, shorting the market now is a risky proposition. Investors exhibit strong tolerance for bad news. The best move is to wait. Outside of stocks, cryptocurrencies show upside potentials, particularly from a long-term perspective. Investing in Bitcoin for the Long Haul On February 14th, I posted this trade idea, “A Bitcoin Bull Run?”. At the time, spot Bitcoin was trading at around $50,000. Bitcoin reached a new all-time-high of $73,000 on May 3rd. It has since fallen to as low as $58,000 and is now trading at $64,125. I identified three fundamental key drivers for a secular long-term bull market for cryptocurrencies, which is recapped below: • Firstly, there is a limited supply of bitcoins with a total cap of 21 million. • Secondly, the demand for crypto investment could increase substantially. • Thirdly, an excessive dollar supply could help raise bitcoin prices. Today, I would like to focus on the technical strength illustrated in Bitcoin price chart. In the past eight years, Bitcoin managed to reach a new high four times, after experiencing significant drawdown each time. • After peaking at $20,089 in 2017, Bitcoin fell 84% to $3,191 by December 2018. • The next bull run, starting in September 2020, pushed Bitcoin price to a new ATH at $58,777 in March 2021. This is a gain of 192% from the previous ATH, and up 1742% from the previous low. • Bitcoin price was cut in half to $29,562 in July, before rising to another ATH of $69,000 in November 2021. This is a gain of 17% from the previous ATH, and up 133% from the previous low. • In the next year, Bitcoin fell to $16,625, a drawdown of 76%. The SEC approval of Bitcoin ETF pushes the benchmark cryptocurrency to its new ATH of $73,000 in March 2024. This is a gain of 6% from the previous ATH, and up 339% from the previous low. Bitcoin price trend shows that investing in Bitcoin in the long run has been profitable. However, timing makes a significant difference in investment returns. Trading Bitcoin with Futures Rollover Strategy While the view of holding on for dear life (HODL) is shared by many Bitcoin investors. There are several issues when it comes to investment strategies. Firstly, with bitcoin trading over $64,000, future price increases do not offer the same level of return dollar for dollar. Hypothetically, if Bitcoin goes back up to its ATH of FWB:73K from GETTEX:64K , the $9,000 gain equals to 14% in return. For a comparison, if you bought Bitcoin for $17K in December 2022, the same $9,000 gain would be 53% in return. To counter the effect of higher prices, investors could consider using leverage. CME Micro BTC futures ( LSE:MBT ) provide leverage and capital efficiency. The contract notional is 1/10 of 1 BTC. Initial margin is $1,515. The June contract (MBTM4) was last settled at $63,865. At current price there is a 4.2 times leverage built in the contract, which is the ratio of 6,386.5 (1/10 of 1 BTC) divided by 1,515. If the futures price touches the previous ATH, a long futures position would gain $913 (= 7,300-6,387), and the return would be a +60%, vs. +14% investing in spot Bitcoin, as we illustrated above. Secondly, futures contracts have a limited lifespan that will influence the outcome of your trades and exit strategy. Micro Bitcoin trades actively in the nearby May and June contracts. Liquidity in the back-month contracts has yet to pick up. A trader may be right about the long-term rise in Bitcoin prices. However, this may not happen in the next two months before the nearby contracts expire. To maintain a long position in Bitcoin over the long run, while enjoying capital efficiency through leverage, a trader may employ a futures rollover strategy. Rollover is when a trader moves his position from the front month contract to another contract further in the future, prior to the expiration of his existing holding. The title chart illustrate how to hold a long Micro Bitcoin Futures (MBT) position overtime: • In April, a trader buys (going long) a June contract (MBTM4). • Approximately two weeks before the contract expires on June 28th, the trader enter an offsetting trade, going short on MBTM4, to close his existing position. He would book a profit or loss, determined by the difference in selling and purchasing prices. • Simultaneously, the trader would buy an August MBT contract (MBTQ4) and reestablish a long position in Bitcoin. • In mid-August, the trader will close out MBTQ4 (going short), and buy an October contract (MBTV4), and continue to hold a long position on Bitcoin. • The trader would repeat the above steps, so far as he holds a bullish view. Finally, Bitcoin prices are extremely volatile. Holding spot Bitcoin with no leverage could face potential drawdown of 70%-80%. With leverage in futures, a sharp price move in the wrong direction could quickly deplete the available fund and trigger margin calls. One advantage Micro Bitcoin has over the spot crypto is the daily price limit. If Bitcoin moves up or down 10% within the trading day, futures trading will be halted. This will give the market time to cool off and help investors avoid being blown out by short-term panic. Experienced investors may consider using stop loss on futures or buying a protective put options to hedge such downside risks. Happy Trading. Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME:MBT1!Long
by JimHuangChicago
3
BTC: Two potential target prices - Two critical support zones correspond with the 0.382 and 0.618 Fibonacci retracement levels of the entire swing from A to B, enhancing the significance of these support levels. - After two months of ranging, the price finally broke below the critical support zone as volume spiked, confirming the breakout and leading to a significant drop. - If the price does not return above the first support zone , two potential target prices can be anticipated: 1. A 100% extension of the large purple box. 2. A 100% extension of the small blue box. Note that this target price perfectly aligns with the previous key resistance-turned-support level. Not Financial Advice The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
COINBASE:BTCUSDShort
by stock_adelie
2