When Will This Sideways Price Action From February End?Traders,
Since February, Bitcoin has basically been in a sideways accumulation price phase. I have a hunch we are very close to an end of this. But how much longer will traders be forced to be patient? And when this phase does end, will we move up or will we move down? Let's revisit the charts to see if you can find more clues.
Bitcoin (Cryptocurrency)
Bitcoin is about to make a large move!BTC has lost some key technical support levels.
The weakness displayed in crypto has come while the stock markets have been incredibly strong
Its never a good sign when you see BTC getting rejected at double top.
The previous ATH at 69k seems to be really keeping price action in check.
BTC has 2 channels converging around 57k - 59K.
Don't be surprised if we see more sellers in the next couple weeks.
Util we break the bullish neckline, the 94K price is only a dream.
BTC FRACTAL - 20% Correction PossibleLet's do a quick recap on Bitcoin.
I rediscovered a fractal from a post I made a few months ago, which compared BTC price action to NVDA price action after making an ATH.
Currently, there is another Bitcoin fractal based on the M-Pattern and we take a deep dive into how far this correction could go.
I'm labelling this post as "short" simply for the lack of better options. I do believe the price will correct lower, but I wouldn't take a leveraged trade so close to the a new ATH.
Link to the earlier comparison with Nvidia:
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COINBASE:BTCUSD BINANCE:BTCUSDT
BTC - Continued Analysis - M-Pattern DANGERContinuing this analysis on the previous one; we see a double top form in the daily as well as the weekly timeframe after the price lost the 50 day moving averages.
In the previous analyses, we looked at Elliot Wave theory and a potential new ATH price zone. However, there was one risk even at that point - the M-Pattern. This pattern is BEARISH and usually leads to quite a significant drop.
The good news, though, is that this is all part of a healthy correction - as long as we hold THIS key zone identified inthe video, we are still well within a bullish market.
Previous update here, where we first spoke about the potential risk of the M-Pattern:
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BINANCE:BTCUSDT
BTC Bitcoin Technical Analysis and Trade Idea👉 In this technical analysis and trade idea for BTC Bitcoin, we delve into the higher time frame charts which currently suggest a bearish outlook for BTC. Despite this, the price action hints at a potential reversal. It is crucial to understand that this is speculative and not a definitive prediction. We need to observe specific price movements to confirm a true reversal. The video covers an in-depth analysis of the trend, market structure, and price action. Please remember, this content is intended for educational purposes and trading involves substantial risk. Always prioritize robust risk management strategies in your trading decisions.
BTC - Top-down Analysis (ICT)Hello traders,
This is my observation and analysis for Bitcoin using ICT's Concepts.
So, recently we had price break it's all-time highs in March 2024. Since then, we have been chopping around in a consolidation. We may make new highs, or we may retrace deeper into a discount. I'm not here to guess, I will just show you what I see.
On the monthly timeframe, we can into a BISI and had a reaction, but we did not create a new high.
On the weekly we have the most clear price action. No gaps, but multiple bullish and bearish Breakers forming, which has price bouncing from a premium to discount in a consolidative manner. Currently in terms of taking a trade, I anticipate us moving up again next week into the bearish Breaker above us, then moving lower into the bullish Breaker below. After that, I would be awaiting more confirmation on the Daily chart, such as gaps being disrespected and gaps being created.
We are currently still high in a premium overall, but we could create a "Bull Flag" type of pattern. It is not something I trade, but what I mean it is completely possible we just consolidate in this tight range before displacing more to the upside. OR, we could go lower back into Equilibrium.
Either way, trade safe out there.
- R2F
Natural Gas, Bitcoin & QQQ : Whats the next trade?Natural GAs has had a nice pullback over the last few days.
Are we going to see this correction go deeper than the last pullback?
Potentially we are observing a failed breakout on the daily chart.
Bitcoin: has triggered bearish formations on the hourly chart.
Sitting right at intermediate support, BTC needs to hold the 50MA or run the risk of flushing lower.
BTC is still chopping in a sideways range that favors lower price action until we break the neckline.
QQQ / Nasdaq : In the strongest uptrend. This looks likely to push a bit higher but its nearing major resistance in a very extended move.
Stocks Good. Crypto Meh. And I Am Pulling My Stops.Traders,
Market makers continue to torture crypto longs but their time is growing short. The U.S. stock market continues to press higher, led by mega-corp giants like NVidia. It is simply a matter of time before crypto follows. In the meantime though, I am tired of playing this game with MMs. For the first time since creating my public portfolio, I've decided to pull out all of the stops on my long entries. I am going to pop a few cold ones and chill for the weekend. I just don't want to play that game anymore. But please. Don't take any of this as financial advice per usual. You do you. I am only here to entertain you all with my poor choices.
Ocean merger with Fet and Agix offers opportunityOCEAN, FET and AGIX look to be migrating to ASI
This is a very interesting move as we see the market began a wave of M&A. It is important to keep an eye on these developments and can be a sign of industry about to send it higher.
OCEAN opportunity
With OCEAN being on OP it offers a low cost gas fee to buy into. It looks like it will have the lowest conversion rate of 1 OCEAN = 0.433226 ASI while 1 AGIX = 0.433350 ASI and 1 FET = 1 ASI. This is quite fair considering current prices.
This merger could lead to be a bit of volatility
Must be careful of the swings created by this expectations and speculations. While migration may offer an opportunity for OCEAN holders there is also significant risk. Ideally, ASI will be better placed come bull market but can be safest to wait for ideal entries to reduce risk.
Why will Ethereum drop toward 2500 levelLiquidity is slowing off Etherum toward Bitcoin as show on the ETH/BTC pair
structure at lower timeframe is respecting the 50% fib level and also trending downward inside the channel , as it repeats is similar pattern!!
Thank you for watching
Follow me for more crypto analysis
Bitcoin PATTERN - BTC Roadmap to NEW ATHBINANCE:BTCUSDT
👉 Trendline Analysis: BTC has been consolidating directly underneath the resistance zone - BULLISH
👉 Candlestick Analysis: Three white soldiers in the 2W timeframe - BULLISH
👉 Technical Indicator Analysis : Price has cooled down after being "Extremely Overbought", moving averages holds - BULLISH
Technical Indicator Monthly Timeframe:
Technical Indicator Weekly Timeframe:
There is really only one concerning matter, and that is from a potential near term scenario:
❗ Pattern Analysis: Potential for M-Pattern to form, medium risk: BEARISH
The candle closes of the next two weeks are crucial in determining how this pattern will play out.
For further reading, here's the initial Elliot Wave analysis on BTC:
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$BTC Bitcoin...Transition 4m falling channel to head & ShouldersFrom my previous CRYPTOCAP:BTC bitcoin analysis, Bitcoin successfully retested the rising channel for higher prices.
Current Price: $69800
On closer observation, Bitcoin has further transitioned from a Falling Channel to now an inverse head and shoulder pattern with neckline resistance around $71,500
If Bitcoin is going to move to higher prices then price action need to break key resistance btw 71500-73000 to make All time highs up to 84k. This will cause altcoins to rally for higher prices.
Else if #Btc continues to reject $71500, then expect retest of previous support: 67k. Consequently altcoins will further lose value.
R2F Weekly Analysis - 8th June 2024 (ICT Concepts)Welcome to another R2F Weekly Market Analysis using ICT Concepts along with my own discoveries. I'm going to go through various assets/markets, and give a real-time view of how I perform my analysis on the weekends. I'll give my take on what has been happening, and what I'm expecting in either the coming days, weeks, or months. Without further ado, let's get into it!
We had a big displacement to the upside on the DXY, causing many diametrically opposed assets/markets to fall hard, closing the week near their lows. As mentioned, I was waiting to see if we found support at the current monthly iFVG/OB. My only concern for us breaking lower on the DXY is the relative equal lows below, but if we did I believe it would be a fast one and recover back to the upside. My analysis is still fixed on a bullish scenario for the DXY, so i'm waiting for more confirms in the for of less bearish arguments and more bullish arguments to form.
- R2F
BTC Bitcoin Technical Analysis and Trade Idea - Where To Next?In thist video, we present a concise analysis of BTC Bitcoin. After recent bullish momentum, the asset has become overextended trading into resistance, and we are now seeing a significant retrace into support. Our primary objective is to pinpoint an appropriate buy entry point within this critical support zone, assuming that price action aligns with our analysis from the video.
As always, the video offers valuable insights into trade entry points, trend analysis, market structure, and price action. It’s important to note that this content serves an educational purpose and should not be interpreted as financial advice. 📈🚀📊
An increased inflow of funds into Bitcoin ETFBitcoin moved higher lately, breaking some key resistance barriers. This might have been initiated by the inflow of new funds into the Bitcoin ETF.
#BTCUSD EASYMARKETS:BTCUSD
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BTC/USD Technical Analysis and Trade IdeaDuring the recent rally, Bitcoin (BTC) displayed significant bullish momentum. In our video analysis, we delve into a potential buy opportunity, provided that price action aligns with our entry criteria. We look closely at the 1H chart:
1: Market Structure Breakout: The previous bearish trend has been disrupted by a bullish breakout in market structure.
2: Long Bias: While my bias leans toward a long position, it remains contingent on price action developments retracing into my fibo zone as outlined in the video.
Please note that this content is for informational purposes only and does not constitute financial advice.
BTC Bitcoin Technical Analysis and Trade IdeaIn this video, we discuss a #BTC #Bitcoin trade idea based on bullish price movement As always, the video covers my trade entry points, opinions on trend analysis, market structure, and price action. Remember that this information is educational and not financial advice. 📈🚀📊
BTCUSDT - Market Analysis (ICT Concepts)Hi everyone,
Here is a quick analysis on Bitcoin using predominantly the Monthly and Daily chart for my analysis.
We see a reaction from a Monthly Bisi with price moving higher. On the Daily timeframe for a closer look, we see that there is a Premium Sibi and a Discount Bisi. So we may see some back and forth movement between the two. But, I will be looking for where the Daily candle(s) close in the Premium Sibi, either inside/below it, or above it. This will likely determine my next course of action. I provide further analysis in the video so do check it out.
- R2F
BTC (Y24.P2.Video 2). Bullish outlook and reasonsHi traders,
I do see a bullish structure and give reasons as to why.
Is there trading opportunities, yes, coming with a scalp mindset.
I give levels and hence we look for sfp's setups for this scalping approach.
Please give me a like and share,
Regards,
S.SAri