bitcoin is sorry Hello, the situation of Bitcoin is not good at the moment (weakening of the power of buyers). It is very likely that Bitcoin will go down ThankfulShortby babyrichcrypto112
BITCOIN Bullish Sign - Descending Triangle Pattern.Characteristics of a Descending Triangle: Lower Highs: The descending trend line indicates that sellers are increasingly willing to sell at lower prices, creating a series of lower highs. Horizontal Support Line: The support line at the bottom of the triangle shows that buyers are entering the market at a consistent price level, preventing the price from falling below this level. Current Context: Potential Breakout: If the price breaks above the descending trend line with increased volume, it could indicate a bullish breakout. Testing Support: The price is near the support level, making it crucial to watch for a break below this level, which could indicate a bearish move. Confluences: 1. Support Line: The horizontal support line is around 67,587.5, where the price has tested multiple times and found support. 2. Structure: The 38.20% Fibonacci retracement level is also around 67,587.5 matching support line. 3. Breakout : If it happen will be the third confluence. Interpretation: Strong Support Level: The fact that the 38.20% Fibonacci retracement level aligns with the horizontal support line of the descending triangle indicates a strong support zone. This means the level is significant and widely recognized by market participants. Bullish Potential: Breakout Confirmation: If the price breaks above the descending trend line (resistance line) with increased volume, it could signal a bullish breakout. This would be further validated by the fact that the breakout occurs from a strong support zone. Entry Point: A breakout above the descending trend line could be a good entry point for a long position, considering the confluence of technical indicators. Bearish Risk: Breakdown Confirmation: Conversely, if the price breaks below the 67,587.5 support level with increased volume, it could indicate a bearish move. Entry Point: A breakdown below this level could be a good entry point for a short position, as the support zone fails. FINAL: Conclusion: The confluence of the descending triangle support and the Fibonacci 38.20% retracement level provides a strong support zone at around 67,587.5. This level is crucial for determining future price action. Traders should wait for confirmation of either a breakout or breakdown before taking positions and use appropriate risk management strategies to mitigate potential losses. This setup presents a high probability trade scenario due to the alignment of multiple technical indicators. Longby PHREDX2
BITCOIN MARKET ANALYSISThis publication not a financial advice. We just give our own opinion about the BITCOIN MARKETby yvanolinga0
2024-06-02 bitcoin overview(Accumulation volume perspective)During the weekend, we observed sideways movement within a range, accompanied by significant accumulation. Given the continuous uptrend in this range, it is a strong support area. While it could break significantly if breached, the accumulation suggests it's a strong bottom from a long-term perspective. So far, we've seen some selling pressure due to short-term dips, but the selling pressure from the weekend accumulation hasn't been captured yet. The direction seems contingent upon the selling pressure when reaching two resistance levels. With the monthly candle closing and the weekly candle changing tomorrow, we might see some directionality. Ultimately, since we're moving within a large triangle convergence, considering a significant direction change (a strong direction) might be more appropriate after breaking out of convergence.Longby pwm43672
BTCUSD SELLBitcoin now also looking for sell side one more pushup may form watch carefully ... crash will be hard I think, place SL , TP Shortby DNA_Trader_Officials1
BTC Price Prediction and Elliott Wave AnalysisHello friends, my key level for the bullish scenario is breaking 70600, you can easily get more details. Thank you for joining me in my analysis. Remember to like, subscribe, and stay tuned for more updates. See you soon! Thanks, Brosby MASCryptoAna2
bitcoin 15min certain good long position as we see in chart, Waite for 68879 line to first retest and reject, then we can go for a long when it breaks. notice than 15 min body candle close above this line stop loss could be under break candle or last floor that was formed before breakLongby kamatraderr0
Bitcoin can rebound up from support line of wedge to 69400 pointHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago entered to upward wedge, where it at once rebounded from the support line and rose to the support level, which coincided with the buyer zone and broke it. After this BTC some time traded near the 66700 level and then fell to the buyer zone, after which made a strong upward impulse to the resistance line of the wedge, breaking the resistance level, which coincided with the seller zone. But the price soon turned around and in a short time declined to the support level, thereby breaking the 70400 level one more time, after which it started to grow and later reached the resistance level again. Then Bitcoin rebounded from this level and made a correction movement to the support level again, but a not long time ago price bounced from this level and started to grow. At the moment, I think that BTC can correct the support line and then rebound to the resistance line of the wedge pattern. For this reason, I set my target at 69400 points, which coincided with the resistance line. Please share this idea with your friends and click Boost 🚀 Longby LegionQ84417
BTC / Usdt 1H scalpingHello guys. Everything you need shown on the chart. So i think 67000$ will be hold So becaution Longby pichilotradesUpdated 222
Is Bitcoin facing short-term demand?📊 Due to the decrease in the downward momentum of the price movement, if the range of 68,500 units is broken and the price stabilizes above it, the price may increase to the range of 70,000 units🎯, and in case of strength, the range of 72,400 units🎯🎯. 📊 Otherwise, the price may fall to the range of 65,500 units.Longby arongroups5
78980 next tp BTC now prepared for new ATH which will be around 78980 plus minus , this may be the last rally of 1st bullish rally , still time to decide , if this is last rally which confirmed triggered recession pullback of all world financial intrument to ground , floor inclu nasdaq gold Longby AktiePremium8
BTCUSDT UPDATE ! BINANCE:BTCUSDT There is a bullish flag, but how long it takes to break it upwards worries me. Three attempts failed. The main support for now is $66,000. If we fall below it, Bitcoin will return to the $61,000 - $63,000 accumulation zone. As long as the price stays above $66k, longs are safe. You know where to put stop loss if you hold one. FOLLOW CRYPTOEASE FOR MORE UPDATESLongby CRIPTOEASE3
Bitcoin is Going for 88 K - Cup Handle Pattern Hello My dear Traders, I am Bullish for Bitcoin for a Target of 88 K The cup and handle pattern is a technical analysis pattern used trading to identify potential bullish continuation patterns It's formed by a price movement that resembles a cup with a handle. Here's how it typically looks: Here are the stages for cup and handle pattern. First stage - Cup : The price initially forms a rounding bottom, creating the shape of a cup. This phase usually represents a period of consolidation after a previous uptrend. The up move Started from 58 K to 71k and now the cup is fully formed. Second Stage - Handle : Following the cup formation, there's a slight downward drift in this case from 71 k to 67 k in prices, forming a smaller consolidation pattern resembling a handle. I have marked the likely handle formation on the chart. range of handle is from 67 k to 71 k levels - a short lived bearish trend or we can say consolidation near the zone of resistance. How to enter Trade in Cup and Handle Pattern - The buy signal occurs when the price breaks out above the handle's resistance level, indicating a potential continuation of the previous uptrend. In this case any break above 71 K levels will be bullish for the target of 88 k on the charts. what are the confirm the Pattern Confirmation characteristics ? Volume: Typically, volume should decrease as the cup forms and increase during the breakout phase. Same in happening this case also. Depth: The cup should be relatively deep, indicating a significant retracement from previous highs. The depth of cup is from 58 k to 71 K - qualifies for adequate depth Duration: The pattern should ideally take several weeks to form, indicating a solid base of support. In this case. Seven Weeks have been taken in formation of the cup as marked on the chart. The formation of handle is still in progress for last two weeks. Completion is expected in by another two weeks. I hope this analysis of mine will help you learn something more and new about Cup and Handle Pattern in technical analysis Do follow and like / boost my work to motivate me God Bless you all by KINGSFALCONTRADERS2
Kingpinwin House of Pi June 2024Bitcoin Monthly House of Pi range for June 2024 using Sacred Geometry-Fruit of Life by @dgtrd as the blueprint, along with Circular Fib, to identify overall Pi range and Regular Fib w/Pi & Phi to find monthly Higher and Lower Pi Pockets. Dollars above as below as always.by kingpinwin0
Level to level trading stratigyMacro levels drawn Major support zone if it breaks the zone which is being retested, it may see the 64000 area and from there continuing the upward movement on long term. another scenario it may consolidate and continue the upward movement. by BalyBey0
BTCUSD SELL SIDE MOMENTUM Bitcoin looking for sell side momentum continuation no buy side breakout found ... Last 24hrs it's in correction mode maybe upside spikes may form anytime, place sell and place sell limit at 68500 or 69000 Shortby DNA_Trader_Officials1