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.
BTCUSD trade ideas
BITCOIN → The bulls are ready to break resistance. 71K or 73K?BINANCE:BTCUSD , after a shake-up (False Breakout), relative to the liquidity zone of 59-60K, is forming a bullish impulse, which is also favorably influenced by fundamental reasons
On the local timeframe there are signs of the end of the locational correction and the beginning of the formation of the third wave. The bullish trend is starting to revive, but there are quite a few key areas ahead that can hold the level.
Yesterday, after the bulls held the defense above 64500-65000, the buyers started to push the price up and tested the resistance 67250 with a false breakdown. There is no fall after the false breakdown, a pre-breakdown consolidation is forming. Bulls are still collecting positions with the breakout target and are ready to go all the way.
On W1 the picture is very interesting and this correction has the character of consolidation. Huge volume is being collected from the strong buyer side. The distribution phase that will start after the consolidation is over could continue the bullish trend if the buyers are persistent.
Resistance levels: 67250, 71500, 73700
Support levels: 65250, 64500, 61500
Bitcoin looks quite bullish right now. High interest, favorable fundamental background can affect the strengthening of the price. At the moment it is worth paying attention to these levels, the breakthrough of which may give a continuation of movement, the targets are indicated on the chart
CME:BTC1! CRYPTOCAP:BTC CRYPTOCAP:TOTAL
Regards R. Linda!
🅱️ Expert Confirms: Bitcoin Set To Crash Below 30KSignals are available everywhere... And new data is coming in all of the timing.
The market is great.
Even though we get confirmation after confirmation, doubts still creeps in.
Even though we see the market moving just as we would expect it to move based on the cycle, sentiment and chart signals; confirmation after confirmation, for real.
Somehow, each time there is a small rise in price doubt creeps in.
➖ Will Bitcoin move to hit a new All-Time High next?
➖ Is the correction over?
➖ How can I be certain prices will not continue higher?
➖ How can I be certain prices will continue lower?
"Bitcoin is trading above $60,000 after all and that's pretty strong."
Well, actually, below 70K is ultra-bearish after a new ATH at 74K, but this is not the topic for this update.
In early 2022 we were discussing here on TradingView the bear-market that was developing for Crypto and how far down Bitcoin would go.
We were dead set on finding the target and as you know, we shared hundreds and hundreds of charts. All of us, the different players.
After a while, we decided that Bitcoin was going to settle around 20K because that was the 2017 ATH. We concluded that the bottom would happen in June or November 2021 and reach several others and varied conclusions.
We all agreed and everything was clear; it was early 2022, we still had a long way to go before reaching 20K; Bitcoin crashed below 20K and yes, even 15K was tested as support.
A certain public figure, I won't name any names, said in early 2022 that Bitcoin would move lower but stay above 30K. It doesn't matter what happens it would never go below 30K... Bitcoin was trading in the 40Ks at the time.
Sure enough, that was the signal...
Bitcoin crashed and did not move below 30K but went even lower and hit below 16K.
The same character is now saying that "Bitcoin will stay in $55K to $75K zone for now" ... This means that the crash is confirmed and it is going below 30K.
Namaste.
Bitcoin - Pullback is required, buy again lower!In my previous analysis, I suggested buying cheap Bitcoin at 67k and now the price has gone up to 71k in a single day:
What now? Will this pump continue? It's possible, but I am waiting for lower prices because the current pump has created a huge FVGAP on the daily chart. These GAPS tend to be filled sooner rather than later. What's more, the price hit a critical point of resistance that you can see on the chart. We have 2 parallel channels, and the price is currently at this critical point. My suggestion is to wait for lower prices, 68k seems to be a strong support, but also the bottom of the ascending blue parallel channel.
Bitcoin is very bullish on the weekly chart, so there is a strong probability of prices above 100K this year. What is my ultimate target for Bitcoin for the whole bull market? I will soon share my special technical analysis on the monthly chart, and you will see a detailed graphic representation of it.
Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
BITCOIN Can it reach $200k?Bitcoin (BTCUSD) is on yet another green 1M (monthly) candle and if it closes that way it will be the 8th in the last 9, a natural Bull Cycle rally. This is taking place around the former All Time High (ATH) level for the 3rd month in a row.
A similar consolidation (blue circle) took place during each and every past Cycle and every time a very strong rally (green zone) started after it. Parallel to that, the 1M RSI printed a short-term pull-back. When the 1M MACD hit its Lower Highs Zone, it was time to start taking profits as the Cycle Top was priced.
Based on this past Cycles model, $200k is a very plausible Target that would even be much lower than the top of the Parabolic Channel.
So what do you think? Will BTC go that high during this Cycle? Feel free to let us know in the comments section below!
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BITCOIN Inverse H&S in full motion. Next stop = $100k.We have been expecting the Inverse Head and Shoulders (IH&S) to break-out above the Lower Highs trend-line since May 06 (see chart below) and Bitcoin (BTCUSD) dully delivered:
In fact, what we will do on this idea is simply update the Bullish Megaphone of May 02 and chart it inside a more fitting Channel Up:
The previous two IH&S bottom formations delivered a rise of around +95%. With the 1D MACD on the same Bullish Cross that was present on both of those bottoms, we are expecting the $100000 psychological target to be reached after July, which will even be a rise below +90%.
What is your take on this? Feel free to let us know in the comments section below!
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BTC will fall back but the upward trend remains unchangedBitcoin price broke through the resistance levels of 70,000 and 71,000, and encountered resistance near 72,000 and began to fall. At present, the resistance range is above 71600. The price is expected to fall back in the short term. Pay attention to the 69500-70000 range below. If the price falls back to this range, it is likely to rebound and rise.
Trading advice: You can buy if the price falls back to the 69000-69500 range, with a target of 71000
The above suggestions are for reference only. I will update the market analysis at any time in the guidance group.
BTC will maintain a volatile upward trendBTC broke through 70360 after oscillating in the range of 69160-70360, then the upward trend will continue. However, there is resistance in the 71120-71430 range above. When the price rises to this range, it is likely to fall back, and then the price falls back to the 70200-70500 range to rebound and rise. This is my basic prediction of the next market move.
Recommendation: You can buy if the price falls back to 70200-70500, with a target of 71200
The above trading suggestions are for reference only. I will update the market analysis at any time in my guidance group.
BTC may hit 67,000Just released news: The preliminary value of the S&P Global Manufacturing PMI in the United States in May was recorded at 50.9, a new high in 2 months; the preliminary value of the S&P Global Services PMI in the United States in May was recorded at 54.8, a new high in 12 months. The preliminary S&P Global Composite PMI in the United States in May recorded 54.4, a new high in 25 months. As soon as the news was released, the U.S. dollar index surged and the price of Bitcoin plummeted, directly breaking through the important resistance level of 69,000.
In addition, judging from the downward trend line I drew on the chart, Bitcoin fell rapidly after touching the downward trend line today. Combined with the news factors, it directly fell below 69,000, so we will continue to be bearish.
Trading advice: Sell when the price rebounds to the 69,000-69,500 range, with a target of 68,000
The above suggestions are for reference only. I will update the market analysis in my guidance group at any time.
Smart Money Red Plots with blue support plot waveThis does not mean entry. We must wait until the buy signal confirms BULL-SHARK entry.
You all know the drill.
Here are the smart money red trendlines with white line volume blocks.
I will wait, all possible dips. Let’s see how the whales behave.
BLUE WAVE is my support wave.
MEN LIE, WOMAN LIE, BUT CHARTS DON'T LIE. Vertical lines represent bearish and bullish sessions. The next reads to be a Bullish Session. The price is questionable. The 3-month space is just an idea of what might happen. Bubbles represent price zones.
I will not play Wizard and predict where the price will end up. I'm only being honest. Price action, sessions, and pi cycles read how and where. Prices are also thought ranges.
Hanging Man made the dip.
Bullish Engulfing has not been completed yet. It's still in process. In my opinion, it will be a bullish engulfing because two bottom body candles are even and the pattern has a BE pattern type but not confirmed yet.
Pi Cycles meaning: to have a crash, red MA must first cross the green MA which has not.
Neither will the price fall below the red MA. I've applied a white MA for security, the RED MA must not fall below it.
Please see PI CYCLE's previous idea. Follow the red and green MA. When the Red MA crossed the green MA on cycles 1 and 2, then came the dip.
1 and 2 blue trend is part of the halving pattern.
This idea meets the criteria for STOCH RSI. When using STOCH RSI on a 1WK volume chart, it shows the bull momentum making the CROSS. BULLS have made null and void the HM.
Red and white MA's work like a magnet with volume candlesticks.
Bitcoin - new ATH soon. Best time to buy nowBitcoin 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 look at the previous price action. We have a false breakout below the key levels; it was a bear trap created by market makers to get as much liquidity as possible for their huge orders, as they cannot simply do so whenever they want.
From the Elliott Wave perspective, there is nothing bearish at this moment. I see that the corrective pattern WXYXZ has been completed, and we are starting a brand new impulse wave to the upside. The next target is around 71k because we have his important red trendline, so make sure you are aware of it.
Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Are you feeling lucky? Trading is all about patience, managing positions efficiently and most importantly how risk adverse one could possibly be when a probable path for an asset emerges. BTC kept going up irrespective of Fed's rate hikes and the bond futures situation which was not to be expected. This was attributed to the institutions getting in and ETF's being approved. The problem with human nature is to always look at everything as a cause and effect pair. We seek to find cause to predict the future and use the effect to explain after something has already unraveled. Now that inflation seems to be mellowing out on paper even though you don't feel it in real life and the rate cuts hovering near the horizon, how would BITCOIN react? Will this cause lead to an effect and will that effect align with probable path that's emerged? Only time will tell!
Institution or retail, markets don't heed to anyone and everyone will bleed if you don't have patience or cannot manage your positions effectively!
BITCOIN → Why did it drop to 60K? When do we expect 75K?BINANCE:BTCUSDT has been showing bullish prospects all week and has been consolidating above key zones, preparing to go higher, but on Friday the market changed to bearish and there is a reason for that.
BTC lost 3.3% on Friday and is currently painting a bearish picture. There are two reasons for this:
Inflation related news, basically proving that inflation is still high at 3.3-3.5%
Expiration of contracts for 1.15 billion. Put / Call ratio amounted to 0.64. Maximum pain point at the 62000 level. Liquidation of huge volume and consequently bearish momentum.
Technically, everyone is interested in one important question - when will the correction end?
Bitcoin continues to consolidate and collect liquidity at the expense of buyers. The market can test the key zones: 59300, 56500 and even there is a probability of testing 52900. But, the growth needs reasons and traders are still in the waiting phase.
The confirmation of the end of the correction, at the moment, will be the breakthrough of 64500-67500 and price consolidation above these zones. In this case, the global sentiment will change to a strong bullish one
Resistance levels: 61500, 64500, 67250
Support levels: 59300, 56500
Consolidation continues and at the moment the price is heading towards support. A false breakdown of one of these areas is possible before further growth.
Regards R. Linda!
[BTCUSD] - EXPANSION! 🔸in daily chart can notice a power of 3 (Accumulation ,, manipulation ,, Expansion)"
🔸we are in stage 3 (expansion) accordibg to my vision..
that matching so likely with RSI indicator...(breaking out multi-month trendline)
🔸must be considerd that the price breaking out a POC line with large green candle too
🔸price now testing the 0.618 fib (golden level)
🔸so that... need a daily close above the golden level and u will watch new ATH for BTC.
appreciating for supporting us with ur like and hit "follow" for more updates🎯
[BTCUSD] - BULLISH RALLY IS COMINGBITSTAMP:BTCUSD looks cheerful in LTF as there is a golden cross in both 4h,6h TF
getting 90k is matter of time .. u can see the previous golden cross and how it raise from 42k to 73k!!
dont forget to support us with ur like ,comment and follow for more ideas🎯
BTC heads up at 67.3k: maybe Bears' last chance to make new lowsPart of my ongoing analysis, see links below.
Our bounce is at a crucial level right now.
This level is where the retrace could end.
Possibly bears' last chance at lower lows.
Elliott Wave theory would call this an "ABC"
Which implies a correction within a trend.
So possible to resume downtrend from here.
Good news for bulls is that 63.3k was the KEY.
The red 2.618 at 63.3k was bears BEST chance.
Now the 1.618 might well be bears LAST chance.
If pulls back, the 2.618 at 63.3k is a MUST-HOLD.
.
Previous charts that lead here (click):
- 73k Top Call no one else expected
- Retrace Roadmap of Support zones
- 52.8k imagined but not believed
- Impulse Redux confirms the targets
- Fine tuned plot calls 56,8k bottom
.
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Bitcoin will continue to rise after pullbackToday, the price of Bitcoin broke through the resistance range of 67300-67600, which has been suppressing the price for the past three days. Today’s breakthrough indicates that Bitcoin will continue its upward trend. The next step is still bullish.
The trading strategy is to wait for the price to fall back to the resistance below and buy. Pay attention to the 67000-67300 range. If the price falls back to this range, you can buy, with the target of 68000-68500.
The above strategies are for reference only. I will release market analysis in the guidance group at any time.
BTC/Gold Ratio forming an inverted H&S patternWatch for the closing price penetration of the right shoulder high as an indication that Bitcoin will go on a run against Gold.
#BTC/USDT PLAN A and Our PLAN B?Welcome to this extensive analysis of Bitcoin.
Bitcoin is poised for a major breakout. If it surpasses the FWB:67K level, we could see $100k by the end of the year. This is Scenario 1, as depicted in the chart. All the fundamentals align with the technicals, and the crypto community is increasingly bullish.
Logic suggests we could be on the cusp of a significant rally.
Scenario 2: What If Another Dip is Imminent? - I know you won't like it!
Remember how every major loss caught you off guard? It happened to me frequently when I was new to the game. I've learned from those mistakes and now prepare for all market surprises.
I'm not saying I'm bearish, but a short-term dip could liquidate many positions, paving the way for the biggest wave to $100k. In Scenario 2, we could revisit the untested GETTEX:52K level. Are you prepared for that? Most aren't.
Imagine if you were ready for these dips—how much money could you have saved?
How to Prepare for Both Scenarios
I'm invested in strong altcoins and hold enough USDT to buy more. I've been holding BTC for a long time and don't plan to sell before $100k. I don't believe in "long-term" altcoins; I flip them to increase my Bitcoin holdings. Many altcoins from 2017 are no longer listed or have died out. The strategy is to find the right ones, enter, DCA, and close with a profit without looking back. The plan is to keep at least 30% in USDT to buy alts and BTC if Scenario 2 happens.
If not, we'll be more than happy to see $100k.
Conclusion:
Though BItcoin looks Bullish, no one knows for certain where the market will go, so we must be ready for all possible outcomes. Keeping a stable reserve is crucial in this market.
If you find my logic and reasoning rational, please hit that like button and share your views in the comments.
Thank you.
#PEACE
🅱️ Bitcoin Local Resistance, Lower High Followed by Lower Low Here we are looking at the 4H timeframe, considered by many of us to be short-term.
Bitcoin just produced a local lower high —I honest don't know what "local" means in this case— I am talking about now vs 22-April marked with the cap pattern on the chart.
Then another lower high this time 8-April —Not sure of this one is local, national or international but still a lower high.
This is a quick update.
I wanted to let you know that prices are moving lower and the jump yesterday is just the classic CPI, news release market manipulation dynamics.
The move up is just a SHORT-squeeze... Who are the experts?
Those who mislead people or those who lead?
I am surely biased as everyone else, I also have to eat but, I fight off any type of temptation (never felt any) and only share what I see.
Now, tell me, what do you see?
Namaste.
Bitcoin will return to the 49K-54K rangeBefore establishing new ATH levels, I think Bitcoin will rebound to the GETTEX:49K - GETTEX:54K price area.
