As mentioned in previous analysis, I believe the breaking of 60K to be important for BTC. If it is important, we'd be in a bull trap now. Currently we have to classic 76 retracement along with a butterfly correction pattern. Trying a fairly large short on BTC now. Expressed through shorts on BTC directly, OTM puts on COIN and OTM puts on MSTR. If the break...
Hello, Trade identification is the process through which you are able to identify setups that can be actioned on in the markets. For this example, I shall be using the BTCUSD chart to chant my path as I look for tradeable setups. 1: Structure drawing Identifying the structure of trades is very key since it creates a sense of knowing where the market is at from...
Bitcoin price remained well above the $62,500 support zone and extended its gains. BTC was able to overcome the resistance at $64,500. It even cleared $65,000 and checked $65,500. A high was formed at $65,550 and the price is currently correcting gains. There is a minor decline below the $64,000 level. However, the bulls are active near the $63,000 area. There is...
Hello all dear traders! Let's discuss and plan our short-term strategy today! Overall, BTCUSD experienced significant volatility over the past day with the price falling past the $63,000 mark. It is currently trading at $62,627, marking a 0.49% increase on the day, since hitting $62,179. But! At the same time a pattern has formed which we often call a triple top...
BINANCE:BTCUSD is not on the rise. Surprisingly to many, the price continues to decline even after the halving. The situation reminds vvot BTC-ETF, when before the growth, MM collected liquidity accumulated at the bottom. The trend is still strong and bullish. The price is in a sideways range and continues to collect liquidity. The range boundaries are 73500...
Hello all dear traders! Overall, Bitcoin's recent price drop on May 1, 2024 changed general sentiment, but it appears to have been a bear trap, leading to mass liquidations and a subsequent decline in the overall market. can. Currently, Bitcoin is trading close to $63,000, and in the past 24 hours, it has experienced greater than 6% growth. Over the past 7 days,...
Bitcoin looks very strong at this moment. We can see that the price is breaking out of the descending parallel channel on the daily chart. The price is above the channel and has already retested the downward-sloping trendline. We should see a strong pump from the current price. Why is bitcoin pumping? From a technical perspective, it's pretty easy to say. Take a...
Welcome, traders and investors, to our educational post on ascending and descending triangles! In the fast-paced world of financial markets, understanding chart patterns like these is crucial for making informed trading decisions. Ascending and descending triangles are powerful tools that provide valuable insights into market dynamics and potential price...
Hello everyone! As predicted yesterday, BTCUSD has lost 62k support and the pressure is on the selling side. It is currently trading around $61,167 and has lost 0.03% on the day. On the 1-hour chart, there are 2 interesting resistance levels that were clearly broken by the bears at $63.00 - $62,000, generally indicating that the selling pressure of the bears is...
Simple: Each cycle must have the RED MA cross over the GREEN MA and just then will the trend begin to fall. Cycles 1 and 2 have been tagged by PI CYCLES. I used trend lines to help with guidance to ALL-TIME HIGHS. MA's agree with PI CYCLES. Cycles 1 and 2 both have the RED MA crossing over the green. As RED MA crosses over the GREEN MA, the candlesticks begin...
Hello all dear traders! A potential peak at the $74,000 region has pushed BTCUSD into a downward correction following a technical bearish wave pattern. From the 1W chart, the support at $65,500 failed to turn BTCUSD around and the downtrend continued. Both short-term and medium-term prospects show that the bearish trend is gradually strengthening. If the...
We frequently look at the altcoin market and very often look for clues on its dominance and market cap. A historic comparison of alts with Bitcoin's (BTCUSD) Cycles shows that alts bottom after Bitcoin, a lag which is natural considering that BTC is the market leader. Similarly it is possible for alts to rally when Bitcoin is correcting or consolidating. Using...
Bitcoin has retraced off the 56,400 area support (level has been on this chart for months), straight back to 64K. The arrows on the chart point to the consecutive lows that characterize a failed low pattern. This brings price to a tricky area for new swing trades. The 64K area is a resistance and NOT an ideal spot for new longs on this time frame. In this scenario...
Judging from the 120-minute chart, the 10-day moving average and the 20-day moving average form a dead cross, with the two moving averages running parallel downwards, and the MACD indicator is also below the 0 axis, which is an obvious short trend. In addition, the price is falling along the 10-day moving average, and the current thinking is still...
BTCUSD is currently at a price of $61,924.00. Considering market trends, it might be a strategic move to open a selling position at this point. Setting a Stop Loss (SL) at $61,120 can help mitigate potential losses if the market moves unfavorably. On the other hand, there's an opportunity to buy BTCUSD at the current price of $61,924.00, anticipating a bullish...
If you're considering trading BTCUSD, now might be the time to open a short position. The current price is 63587. Setting a stop-loss at 64350.00 could help manage risk. For potential profit-taking, consider three target prices: 63180.00, 62750.00, and 62040.00. Each target represents a level where you might consider closing your position to lock in gains. Keep in...
This is the situation right now on the daily timeframe; Bitcoin produced a lower low 1-May, this normally leads to a bounce. A bounce after a new lower low can push prices easily toward 70K, as a lower high but this isn't happening, this didn't happen. The bounce pushed prices to 65.5K and that's it, weak and a lower high confirmed; so far. Closing today below...
At the beginning of the month, due to tensions in the Middle East, BITSTAMP:BTCUSD dropped below the crucial 62k technical support level, even dipping below 60k to reach a local low at 57k. However, this breakdown was short-lived, with BTC spending only 2 days below this significant level before reversing strongly. This reversal confirmed a false break when the...