VOLUME and PRICE ACTION confirmed Double bottom target at $76k zone. Triangle in breakout process. Risk Ratio set at 2%. Smart Money Contraction has been at work by keep the trend within the value line. Longby The_ForexX_MindsetUpdated 998
BTC: 7955 | Oct. 19, 2019 Sat - May 2020 Planthe float is diminishing while stabilizing coins make it cheaper to acquire BTC relative to mining the road to 100k ++ should be organic post the HALVING when institutions make a SHOUT OUT above 10k levels again by senyorUpdated 121245
BITCOIN Inverse Head and Shoulders targeting $79500Bitcoin (BTCUSD) is technically about to complete the Right Shoulder of the Inverse Head and Shoulders pattern (IH&S) that followed the All Time High (ATH) of March 14. The driving vessel behind it is a (dotted) Channel Up whose Bullish Leg peaked at +19.50% and its two Bearish Legs so far have been around -8.00%. As you may realize, there is a high degree of structural symmetry on these patterns as even the IH&S has distinct Support and Resistance Zones, with Sour interest currently being on Support Zone 1, which has already held twice since May 23. As a result, as long as it holds along with the 1D MA50 (blue trend-line), the trend remains bullish and the IH&S technical dynamics target the 2.0 Fibonacci extension at $89000. However we keep at the moment a shorter term perspective and before 89k, we will aim at $79500, which would be a +19.50% rise, similar to the Channel's previous Bullish Leg. 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇Longby TradingShot2233
ZOOMED IN Triangle Breakout Zoomed in to show you this idea as an update form its original idea. should and shows to finally work its course. Tried to make as clear as possible. You can compare and shows the same. Longby The_ForexX_MindsetUpdated 6610
BTCUSD - Topping out around 66k?BTC is yet to fully correct, at least on the weekly. In my eyes, these huge candles up are unsustainable without significant greed. Significant greed cannot continue indefinitely without returning to the mean (neutrality), and likely, significant fear. There are a few factors I believe will influence a correction: Greed across the traditional and crypto markets. See CNN's sentiment analysis and alternative.me's fear and greed index. Only 5% of institutional financial managers are planning to hold BTC in 2021 (volatility being cited as the main reason), implying the feverishness of 'mass adoption' is overstated and overhyped. Bitcoin is back in mainstream media. The more exposure it gets, the more FOMO and greed kick in, the more new investors pile in, the more people ready to buy right at the top and add selling pressure on the way down. Big green (or red) candles, while difficult to gauge the top, often result in big moves back down. Similarly, an almost vertical acceleration implies a significant deviation from its mean (anecdotally, the further and quicker something deviates away from its mean, the quicker it comes back). Currently, BTC's yearly EMA is almost exactly the previous ATH of $20k. Simply, a correction is due. It's gone up but hasn't come down much. So, knowing that a correction is due at some point, we can then try and forecast the top. While looking for similarities between the last ATH and this current rally, I noticed there was a period of consolidation, followed by a higher low that wicked down (marked on the chart). Using these points as anchors, the next anchors are the ATH and the last high at $42k. While the intraday levels of these fibs fit nicely, there are 2 extensions that caught my eye on the weekly that fit almost perfectly. The 1.618 level on the recent fib (grey) and the 3.618 level of the ATH fib (red) both sit around $66.1k and $66.3k respectively. Seeing how well the other levels line up through previous price action gives me confidence these are valid levels. I'll give coordinates at the end of this post so you can see what I mean. I've also included a 3-factor BB on the chart for confluence. While the weekly close tomorrow will change the upper band, its near-vertical ascent will likely eventually be punctured by price. As denoted by the red circles, a reversal has occurred every time a swing has formed there. Moreover, for an asset to exceed 3 times its weekly standard deviation should ring alarm bells in anyone's ears. Okay, so we know where the top might be. How can we make a trade based on this? I'll start with where I think it might end up. If we use $66k as our first anchor and the bottom of the last consolidation at about $3.1k, then the 0.618 level (blue line) lines up perfectly with the most recent fib's 0.618 level on the way up. This falls at $27.5k, or rather, a contraction of 61.8%. The tricky part is stop loss placement. I'm going to say that a technically invalid level would be past the 3.764 level of the ATH fib at $70k. Anything between $71-72k would likely invalidate this idea. In summary: Entry: $65k Stop: $71-72k TP: $27.5k, $31k if conservative, $42k if ultra conservative Let me know what you think and give me a follow for more. Happy trading! COORDINATES: ATH fib = (1) 1830.00, (2) 19666.00 Current fib = (1) 3122.28, (2) 42000.00 TP fib = (1) 66026.19, (2) 3122.28Shortby pasojovUpdated 5523
Bitcoin: 64K Test For New Longs.Bitcoin has followed my anticipated scenario nicely over the recent two weeks (it doesn't always agree). As I have written in my previous two articles, the 64K and 68K resistance areas are potential take profit zones, NOT locations to put on more risk. Price action appears to be confirming that and is attempting to retrace off the 66K area minor resistance (See upper arrow). While this price action appears to be bearish it must be considered in light of the broader structure. Since the March peak, Bitcoin has been in consolidation mode (upon completion of 5 waves). This structure represents a broader HIGHER LOW with 56K established as the bottom of the range. This implies that the broader trend continues to be BULLISH even though recent price action has yet to push major resistances. This is a key piece of context because it helps to shape risk and profit potential for the near future. How you navigate this will depend on your risk tolerance and trade style but no matter how you look at it, current prices are unattractive for longs on most time horizons in my opinion. The scenario I anticipate this week (see illustration) is a minor retrace to 64K (old resistance/new support) followed by a momentum continuation into the 70K resistance. If a long confirmation appears (Trade Scanner Pro), this can play out well for traders on shorter time horizons. While I am optimistic in this regard, I also consider that price CAN break 64K and test 60K again. There is NO way to forecast how the market will behave, ESPECIALLY the longer the time horizon. Managing risk and capitalizing on movements EFFECTIVELY requires knowing how to evaluate market structure in order to stack probabilities. Based on this context if I can determine the trend is bullish for example, I can estimate that supports have a greater than 50% chance of staying intact. I can also expect long signals to have greater than 50% chance of generating some amount of profit, but there is no way to anticipate how much exactly (markets are MOSTLY RANDOM). Adjusting to price action and looking for signal conflicts or using a trailing stop helps to improve decision making in such an environment. If you get stuck on ideas, cling to hope or consume too much internet, you will soon learn how ineffective this is. The market is a great teacher but the lessons are often VERY EXPENSIVE. Thank you for considering my analysis and perspective. Editors' picksby MarcPMarkets3232 1.4K
BTC Fails to beat ATH- 73K ZoneFor the last couple of days to weeks bitcoin has failed to make a significant move above 73-74k zone. there has been a consolidation happening around 68k-70k zone and I think the pair has to retreat first to pick some momentum before it can burst the previous highs. Area of focus remains to be 60k, lowest 58k. Lets me know what you think Shortby alonso780442
Balla is still Bullish on BITCOIN. Cup & Handle pattern. The trend is still our friend. I still see bullish developments in the price action. We must have patience. Dips still must be bought. The plan hasn't changed. We still aiming for that time period of 9 -15 months post #BTC Halving. We are only one month down :) Longby BallaJiUpdated 10108
BTC/USD A Bearish Butterfly pattern is another type of harmonic chart pattern that signals a potential reversal in an uptrend, indicating a selling opportunity. This pattern is also defined by precise Fibonacci retracement and extension levels. Here's a detailed breakdown of the Bearish Butterfly pattern: Structure and Fibonacci Levels X-A Leg: The initial leg of the pattern. A-B Leg: Retraces 78.6% of the X-A leg. B-C Leg: Retraces 38.2% to 88.6% of the A-B leg. C-D Leg: Extends to 127.2% or 161.8% of the X-A leg.Longby B9A-88652-NisarAhmad550
Bitcoin has NOT made a new ATH $BTCAdjusted for inflation, Bitcoin remains below its 2021 highs. This means that despite halving, despite the hype, despite the ETFs, Bitcoin has not made a new high in more than 3 years. This does NOT mean that BTC has topped. I still place a 75% probability that the current bull trend which started at the Nov 2022 low is only halfway done -- and that a move to $135,000 or so by Sep 2025 will occur. Can we argue that BTC is just pausing while buyers sweep up the last of the positions from weak owners -- and that an upward thrust is just around the corner? Of course this is a possibility -- all things are possible with Bitcoin. Yet, the failure of BTC to get back on track will only increase the odds I place that a more sizable correction (perhaps to $40k or so) is underway.by PeterLBrandt3319
🔥BTC might be ready to target 75k: Update and multitimeframe🔥Please see previous ideas for more context ☝️Do not act based on my analysis, do your own research!! The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌 ☝️ALL ideas and videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment. Important disclaimer - this idea is just a possibility and my extremely subjective opinion. Do not act based on my analysis, do your own research!!Longby Yelli_tradesUpdated 7711
BTC - can't believe I'm saying it but - think we get 10-20% UP I 'm looking at the potential "false break" of the uptrend channel (and triangle pattern) on the 4H chart which would be typical market shenanigans for a Friday afternoon.... If I'm right then BTC is going to rally directly from here. You can but 67000 with a stop 65000 and target 75000+ for a 4/1 reward/risk coming days/weeksLongby WVS_Stockscreen222
Bitcoin: Summer Slump?Bitcoin continues to remain sluggish and is holding around the price level of the old all-time high from the 2021 bull market. Primarily, we expect a significant descent to place the low of green wave 4 in our same-colored Target Zone ($58,655 - $47,012). However, the next bullish impulse move could theoretically already be underway. This scenario (40% likely) will take effect on a break of $73,462. by MarketIntel223
BTCUSD LONG IDEATriggered order block on the 1HR TF Chart. Safe entry will be at the bottom order block and SL is the red line. This is just based on my own analysis. Trade at your own risk! Longby jayforex0724222
Solve a daily puzzle :)It's time for a daily puzzle! Please read description belowby Yelli_tradesUpdated 222
Bearish May Trends on Bitcoin - A Major Correction Incoming?In the traditional cycle of Bitcoin, May has often been marked by significant bearish movements. As of the 25th, Bitcoin has intriguingly held above the opening price of the month. However, based on historical trends and current market dynamics, I anticipate a major correction is imminent that could bring Bitcoin down to reach its support levels. Keep a close watch as the month progresses.Shortby FATHX116
Bitcoin Wyckoff - Leaving the RangeMore and more evidence supporting the notion of accumulation rather than distribution. The latest markups have bigger green candles with good volume vs smaller red candles (or wick which suggest absorbed) and lower volume. PNF target is around the 90-100k mark before we get another one of these sideways. For now, if correct, we will see pump, retrace to test late sellers/shorters. Rinse and repeat until target. Longby SellBitcoinsUpdated 883
Bitcoin- would it finally break resistance? After reaching an all-time high in March, BITSTAMP:BTCUSD started to consolidate between 61k and 71k, with a false breakdown in the final days of April. Following this false break, the price once again reached the resistance zone last week and is now consolidating again. The overall trend remains clearly bullish, and the chart structure over the last three months is somewhat similar to the December-February consolidation. Considering these factors, I remain bullish on Bitcoin and expect a rise to the 80k zone, if not higher. Only a price drop below 60k would change this bullish outlook. Longby Mihai_IacobUpdated 2217
🔥 Bitcoin In A Bull-Flag: Wait For Break Out!After successfully completing an inverse head & shoulders pattern, Bitcoin has seemingly found its way up again. Over the last week, trading has been characterized by many ups and downs, but the trend is still bullish. Bull-flags are classically bullish continuation patterns, so a bullish break out through the top resistance is to be expected at some point. Wait for the market to show clarity. Wait for a break of either resistance of support. A new all-time high is around the corner.Longby FieryTrading2219
How I am able to take the breakout tradeBasically, you will need two key indicators. You can use the indicators that work best for you, but these are the ones that work for me. I will post the names of them in the comments below because I don't remember the names off the top of my head. I know the first one is the Order Block Finder. It's an auto indicator that I think only works in a paid TV account. The second one is an oscillator. Again, I will post the name of it in the comments below. So, this is how I take the breakout trade: I set two alerts. The first alert is set at the top of the blue Order block level. The second alert is set at the bottom of the white order block. When the price breaks through either of these order blocks, I take a look at the Oscillator. In the Oscillator, I make sure the moving line is about mid-way on the graph. In this example, price is moving down, so I see if the moving line is mid-way when the price is breaking through the range. If the moving line is mid-way this gives a higher probability that it is actually a break down and not a fake out. Usually, if it is a fake out, the moving line will be a the far extremes of the graph. Therefore, I want it to be at the mid-way point when it is breaking out of the range. The blue arrows indicate the location/timing where I placed the trade. I hope this helps someone. God bless by handyrams8558
WHALES LOW VOLUME IS NOW HERE! (Whales have arrived)Today, whales low volume on a 1Day TF has appeared. I told ya it was pending process and now shows complete at 5pm pacific time as of today. View my vertical lines, each one represents 1Day TF from the start when whales low volume was complete. Ended weeks later. Next 1DAY TF vertical line took days to complete. View each smart money contraction value lines then follow the trend. When have I mentioned whales low volume and failed? Who’s ready for another BULL RUN? I added possible targets. Next move is to wait for WHALES to buy some huge BTC. Longby The_ForexX_MindsetUpdated 2212
Bitcoin: mixed trading continuesThe story about the ETH ETF approval marked the previous week, and left BTC aside from investors' view during the second half of the week. However, both volatility and liquidations were significant. First, BTC was strongly shifted toward the level of $71.410 from $66.225, and then the price started its decline toward the level of $66.8K. As per news, there has been $350 million in liquidations of leveraged positions, which was the highest level since the beginning of May. It seems that the market was slowly losing hope that ETH ETF will be approved by the SEC, in which sense, the information regarding its approval was sort of a surprise, which imposed strong market moves. Regardless of the latest developments, RSI is showing that the BTC market is still not in the overbought territory. The indicator reached the highest level at 66, and then slowly went down till the level of 57. Based on current indicator`s moves, it seems that the market is still not in the mood to look at the oversold market side. Moving average of 50 days slowed down its convergence toward MA200, so they are currently moving as two parallel lines. There is no indication over potential cross in the coming period, and in this sense, no trend change for the moment. Based on current charts, it seems that the market does not have the strength to clearly pass the $70K line. Still, it should be considered that the previous week was a specific one, as the news about ETH ETF approval was dominant. If we take into account liquidations which occurred and that some of funds from BTC were transferred to ETH, in expectation of its surge in price, then market lack of strength could be explained. As for the future period, charts are still somewhere mixed. There is a potential for the upside, in terms that levels above $70K might be tested for one more time, but there is also some probability for FWB:65K support to be tested. Market would certainly need time to digest the latest regulatory moves, in which sense, higher volatility might continue for another week. by XBTFX1112