Double Tap on the Resistance (Almost) No One is Talking About.. So here we are again, and most are still barely paying attention to this resistance level.. I was right about the first rejection here so lets see if we can make it 2/2.. Could that double tap finally signal the beginning of the real sell off? BTC has lost that Green dotted support line and is in the process of retesting it as I type this. Lets see what happens, but this would make for a REALLY bad time for traditional markets to sell off.. 😬 Right shoulder down to my Buy Zone incoming? Shortby Alpaca_FredUpdated 114
LONG Bitcoin during RED days always!Morning lads, Figured I'd share my view on BTC for the following weeks. There's a chance that instead of a channel, its a descending triangle on the daily, bringing prices to 50k. But Im gonna keep that in mind and hope we move up! This trade would help alts tremendously as well.. Trade thirsty, my friends..Longby mr_willmedinaUpdated 3
A BULLISH SCENTThe Pressure on 72K is accumulating power for a gravitational breakthrough for the crypto Indutry.....BRIGHTSON Longby stay_23Updated 116
BitcoinIt broke the HL meaning it might change direction.Closely observer it.Shortby CurrencyMomentumFX334
BTCUSD: Short -term buyingBTCUSD Trading Strategy: In the short term, on the 1-hour chart, BTCUSD is showing bullish momentum. I anticipate we will set up buy positions around the support levels of $68,800 - $68,200. The 34 and 89 EMAs continue to support buyers in the technical picture. Let's wait and be ready for our setup, and don't forget to set your take profit (TP) and stop loss (SL)!by Raz_TradingUpdated 2727104
Return to valueJust look at the chart. It's self explanatory. How much of a description do you need? Longby WallstMoonMan1
[BTC UPDATE] Breakout as mentioned in previous post.Breakout have occured as posted in previous post. First target will be $70,000. COINBASE:BTCUSD Longby stewart4986111
BTC/USDOverview The chart for Bitcoin/USD (BTC/USD) on the 1-hour timeframe shows notable movements, with the price interacting with key support and resistance zones. The indicators used include Moving Averages, Bollinger Bands, Commodity Channel Index (CCI), MACD, Stochastic Oscillator, and Support and Resistance levels. Key Observations 1. Moving Averages (200 MA and 50 MA): • 200 MA (Green Line): The price is currently below the 200 MA, indicating a bearish long-term trend. • 50 MA (Red Line): The price is interacting with the 50 MA, indicating short-term trend considerations. 2. Bollinger Bands: • The price is near the middle Bollinger Band, indicating that the market might be at an equilibrium point. The previous move from the lower band suggests the market might be consolidating. 3. Commodity Channel Index (CCI): • The CCI is likely around 0, indicating neutral conditions. This suggests neither overbought nor oversold conditions. 4. MACD (Moving Average Convergence Divergence): • The MACD line is below the signal line, and the histogram is showing negative values, indicating bearish momentum. However, the histogram shows signs of decreasing bearish momentum. 5. Stochastic Oscillator: • The Stochastic Oscillator is rising from oversold levels, indicating a potential bullish reversal. 6. Support and Resistance Levels: • Resistance Zones: Significant resistance is seen around 71,000 and 72,000. • Support Zones: The recent low at 68,800 and significant support around 67,600. Comprehensive Technical Analysis 1. Current Trend: • The long-term trend is bearish as the price is below the 200 MA. The short-term trend shows potential for a bullish reversal as indicated by the Stochastic Oscillator. 2. Equilibrium Conditions: • The price being near the middle Bollinger Band suggests equilibrium, with potential for a move towards either the upper or lower band. 3. Volume: • Volume analysis can indicate the strength of the price movement. The current volume shows relatively stable activity, suggesting consolidation. 4. Key Support and Resistance Levels: • Resistance: Significant resistance levels are at 71,000 and 72,000. • Support: The recent low at 68,800 and significant support around 67,600. 5. Momentum Analysis: • The MACD indicates bearish momentum, but decreasing histogram bars suggest potential weakening. • The Stochastic Oscillator indicates a potential bullish reversal from oversold conditions. Best Trade Opportunity Given the current market conditions, the best trade opportunity appears to be a short-term buy trade to take advantage of the potential bullish reversal indicated by the Stochastic Oscillator. Trade Setup: • Buy Level: Around 69,380 (current level near the middle Bollinger Band) • Stop Loss: Below 68,800 (to account for potential further downside) • Take Profit: • First target: 71,000 (recent resistance) • Second target: 72,000 (significant resistance level) Trade Rationale: • Bullish Reversal Indicators: The Stochastic Oscillator rising from oversold conditions suggests that the market may be due for a bullish reversal. • Volume Consideration: Stable volume suggests consolidation, which might lead to a breakout. • Risk-Reward Ratio: Entering a buy position near 69,380 offers a favorable risk-reward ratio, especially with a tight stop loss below the recent low. Summary • Buy Opportunity: Enter at 69,380 with a stop loss below 68,800. • Targets: 71,000 (first target) and 72,000 (second target). • Rationale: The market shows potential for a bullish reversal given the Stochastic Oscillator and the support around the middle Bollinger Band. by KironKavanagh223
BTCUSD 9/6/2024BTCUSD is now still in the premium area where after the sweep price external daily low. I expect there will be a fall towards the discount in the near future. But I will wait for the price to enter the area that has been broken.Shortby EyonGaristerus1
BTC possible setupsTomorrow Monday 10th, I see a strong possibility of downward movement first, dropping to 67000 - 66000 area. Then, we need to observe whether there is possible for upward movement. Possible long area: 1. 68400-68700 if it breaks down, then, 2.67000-66400 If 66000 breaks, then t0 62000 area is possible. Let's see how the week plays out. by Shin_diamonds1
Bitcoin (BTC): Monthly Opening / Pushy Market / Fakeout To 50K?First week of the new month is here and we are seeing some upward momentum here, pushing the upper resistance zone (potentially going for a fakeout). We are looking at current zones, which are $69-71K which are a huge point of interest for us for a potential fakeout zone right there. But this is not mandatory, as we are near correction phase where accumulation has already happened and is about to end and now that Bollinger Bands upper and lower lines are tightening, we see a good chance for breakdown to happen soon. As you all know, we have major target zone, which is $50K, so let's see if June will be the month for it 😉 Swallow Team Shortby SwallowPremiumUpdated 8
BTC Long PositionBTC has currently been following Dow Theory as successive HH,HL are being formed. My opinion is to take a long position if today's candle closes above yesterday's candle (69289.67) My trade plan is visible in the chart. 2 Entries can be taken. 1st: when it closes above 69289.67 price. 2nd: when Resistance 2 is broken (71317.10) Good Luck!!Longby Umair88Updated 3
Week 24 Analysis (10Jun) + Week 23 ReviewWelcome Fellow Traders! Tech Analysis for the coming week + review of the current! Usually takes about 15-20 mins, sharing as much as possible, Stay Tuned! If you find the content useful to you, do follow me on trading view and give me a Rocket BOOST!18:56by Shadowing_The_Big_Boys2
BTC may encounter resistance callbackYesterday, BTC broke through the important resistance level of 70270 in the previous oscillation range. The current price has risen to the 71340-71960 range. If the price cannot break through the upper limit of the range of 71960, it may usher in a sharp correction. Radicals can sell in the 71340-71960 range, with a target of 70200-70500 The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any timeby q4yrf4Updated 20
BTC 70K Channel TrendsBTC retested $69,800 and broke through. New channel of $70,000-$71,000 for the next retest of $69,800. by TraderGuy19941
BTC zones of interestIf the bull mood weakens with an incursion towards the first green rectangle as correction, and a proposed attempt of a bull wave fails to break the second blue rectangle, I am considering the bears won't be able to push this as low as the previous low around 56400. With that in my mind my favorite zone of interest for a potential reversal and the triggering of another push above would be the red zone. Don't think this could provide a more detailed setup like a double bottom or other formations, could be just a simple turnaround and shift in momentum, but would require confirmation for continuation after a potential pivot in direction. Other scenarios would be a stop and a break of the blue rectangle, but in both scenarios I don't know if there will be enough power to break the 73700. Maybe stop bellow and consolidate a bit, but either way, the overall picture looks solid enough to assume that for the next weeks BTC will have what it takes to stay clear of the previous low that started the current bullish attempt. All 3 rectangle zones are proposed potential support/resistance zones. by nenUpdated 4
BTCUSD your choiceThis again shows you that we are at the overbought area. I don't know if the price may go to 80k first, I am not a God but what I know is many indicators confirmed it is overbought. If you wanna sell all your property and wanna risk, it is up to you. Refer to my previous posts too. I don't invest more coz I only wanna risk 15% of my cash. I already bought some of the best altcoin and stake for 365 days and 80% USDC staked for 3 months with 5% APR. So yea, if you wanna hyped buy all those YouTubers and risk your hard earn cash, it is up to you. by SkyitoUpdated 5
Bitcoin in the short and mid term 2According to the previous analysis, Bitcoin reached the range of $70,000. (With the difference that he omitted the first short wave.) It can now move towards the $62,000 target and have another bullish wave before a heavier fall, with a slight possibility of crossing the ceiling (orange scenario). The ultimate goal of this analysis is for Bitcoin to fall to the $27,000 range in the coming months. @JalilRafieefard June 4, 2024Shortby JalilRafieefardUpdated 116
BITCOIN BULLISH MOMENTUM!! GOING UP TO $90K - $100KBitcoin has been rejected five times in this value area, but the resistance is getting weaker, hinting at a potential bullish breakout. This isn't a bad area to assume that this dip might be worth buying. There's a potential for the trend to continue along the trendline at the 13 and 21 daily moving averages, getting close to the bullish order block area on the weekly chart. Looking at the technical analysis, this chart shows a strong possibility of reaching $90K - $100K. Additionally, the inflow from big institutions like BlackRock, Fidelity, and others adds to this potential. Let's see. 🥂Longby anandahaidarr2
Market Crash - BTC Double TopI had been expecting a run to $100k soon, but I now believe it's no longer in the cards. It'll have to be after this new downtrend we're about to enter. BTC had a nasty double top near ATH and has now given up the SWB:69K -$70k area which is critical in my view. I expect any retests of this area to fail. The breakout appears.to have hit a wall as BTC had a big negative reaction to the spike in treasury yields on Friday. Shortby AdvancedPlays3
BTC Super Pump Structure?With the chart in Log and looking at the Monthly we can see BTC repeating a Crypto winter spring structure closer to (2014-2016) rather than (2018 - 2020). The linear regression + RSI indicator is also similarly more closely following the (2014-16) Winter/Spring. As we continue to deflate the US dollar and currencies around the world we need to consider our sense of scale needs to be adjusted as we look at "Bitcoin as the hardest asset in the world" as Mr. Saylor puts it. If bitcoin is to compete with gold and also become the central reserve of most developing countries if not the world it will reflect that in a change in character of adoption hence parabolic moves to the upside. This is nothing new, Just zooming out for the long term. Longby AngryBuhda332
BTC Testing its limitsLook for Bitcoin to range for a day or so under the all time high. Followed by a breakout, retest (as support now) then off we go towards 90k. Why 90k you ask? Because that's the upward momentum pulled from the current bull flag pattern that BTC is printing. There are two estimates; A more conservative 90k that is almost inevitable if the bull flag breaks to the upside. As well as 112k based on the length of the "pole" in the bull flag. That said, we are human and we like nice round numbers. What do you think the odds are of BTC hitting 100k if we hit 90k? I'd say better than fair and most likely a sight better than that! Now you can't mention 100k without mentioning losses. People are going to sell at 100k because that's what we're built to do, take those all too tempting round numbers with those Wallstreet bets ape like gains and try and beat your fellow ape to the cashier's table. So caution here, if you're a short term hodlr it's going to get rocky around 100k. If you're a long term hodlr you've no fear. Sit back and enjoy the ride. Longby MrInvertigoUpdated 3