I expect it will continue within this channel until the next euphoric breakout of the topside - which does not preclude wicks through the lower channel line as we've just had, or full temporary breakdowns to a lower support, prior to the blowoff top.
Because of the low volume i expect bitcoin to hit about 67000 and drop, which is about 23% above the most recent 8000 drop that started at 64700. From there several possibilities. It retraces down to between 59000-61000 and takes off upwards. Or it hits that price range (59000-61000) makes a small correction up for another move down, to break 54000...
There are fewer important macro events and crypto-related events this week. Last week was a big news week and crypto did fluctuate significantly, crypto is now affected by all types of news the nature of the impact is still evident. There are multiple macro related news this week, but the impact is limited, and unsurprisingly the Fed has maintained current rates...
Riding the Bull: Long positions activated as Bitcoin's halving sparks bullish fervor! 🚀 Major support at 52300 holds strong. Let's soar to new heights! #Bitcoin #Bullish #HalvingHype
As we discussed last week, our first scenario looks like happening. Price filled the imbalance and increased by nearly 11%. I want price to stay above red box, we have a supply level at our current level. We need to pass that level as well.
The 50% retracment point from the descent from the all-time high down to the recent low, at roughly 64565, has been in play throughout the day, with steady volume, healthy RSI, more resistance tests than support tests, and, the opportunity to reverse the recent downleg in a convincing fashion. Will it be successful?
IF this week closes with bullish price bar action, the correction we've seen could very well be over! On the weekly timeframe, we might be setting ourselves up for new highs. Keep in mind timing is crucial! We've been through 7 very strong up weeks followed by another 7 weeks of corrective, sideways price action. This consolidation could be the launchpad for the...
Good Day to The Investing World A wise man once said: "Nothing lasts forever". I have been gone, but havent been for long! Anyways, the biggest Bitcoin ETF in the world has just reported massive BTC inflows into their ETF. This is massive news as it means more cash flow is entering BTC, which also gives us a hint of an order block. If BTC does go short in the...
Entry at Pin Bar 18MA Weekly. Take profit using Fibonachi
some heavy vol. flow might bring us a nice weekend pump. 71K next resistance target.
As I said before, I believe we're in an exciting time. We're seeing our first sign of early growth following post halving. BTC has broken the 1HR Trend Resistance and it may soon retest it as support. If it does test and hold we can be poised for a continued run to the upside. It's already broken a Key Weekly Level on Friday and it's possible that it could surpass...
the setup is there, and looks great. goodluck yall, be careful at that range!
BTC broke out of downtrend! We're looking to trader higher from here.
#BTC Big Picture Update It was expecting around 74250k but the High was at 73k Area Now what happens next? I would say after this whole pump BTC should make a nice ABC correction and should this drop (which we saw on 01.05.2024) be our WAVE (A), we still have wave B and C ahead of us, where the B ending between 66k and 68k, and after the Resistance is...
I would normally want to see a deeper, full correction come in here (highlighted in yellow pen) but this is technically a completed ABC correction, with this last move down completing clear sub-waves. Being able to have confidence in a larger target is nice and i prefer waves for this, however dropping lower in timeframes/fractals i do prefer other techniques for...
Bitcoin is oversold on time-frames below 6W and overbought on 1D. This means the current move up is a minor reaction on Intermediate correction. I think the price will spike the ATH once again, but the probability price go significantly higher ATH is lower than vice-versa. Maybe around 85k. The price action usually is moving in a channel boundaries. You can see...
Hand painted acrylic on canvas featuring bitcoin ready to sail in open seas. Mate!?