Bitcoin Short Term Target by early next week (Monday?)Complementing weekly and daily charts, short-term analysis indicates a bullish projection to 63k by early next week. Utilizing Fibonacci ratios, trend lines, and various indicators, the trajectory aligns for a notable rise.Longby candlestickninja3
Bitcoin (BTCUSD) Weekly View: May 11th - May 13th The upcoming week holds significance for Bitcoin as it grapples with signals suggesting another upward burst is necessary before a potential downturn. The analysis spans both weekly and monthly timeframes, indicating a crucial phase for Bitcoin's trajectory. Despite short-term bullishness, a bearish outlook looms, with projections indicating a decline to 30,000-40,000 levels in the near future. Market Analysis: On the weekly timeframe, Bitcoin appears to require another surge upwards to maintain momentum. Simultaneously, the monthly timeframe signals an impending need for upward movement to sustain its long-term trend. This analysis coincides with the weekly bullish harami pattern observed in the S&P 500, yet to fully play out. Volatility Insights: The current state of the VIX, sub $13, presents an interesting dilemma. A rally alongside the markets could signal impending bearishness. Conversely, a drop below $12 might signify an imminent downturn. These nuances highlight the complexity of the market sentiment and its potential impact on Bitcoin's trajectory. Bitcoin Forecast: Despite the need for another burst upwards, a bearish sentiment prevails for Bitcoin. Following the anticipated surge, projections indicate a downturn towards the 30,000-40,000 range. This aligns with the broader analysis suggesting Bitcoin's potential correction. Conclusion: As Bitcoin navigates the coming week, traders are urged to consider the broader context. While short-term indicators suggest the necessity of another upward push, the looming bearish outlook warrants caution. The unresolved bullish harami pattern in the S&P 500 and the VIX's behavior add further layers of complexity to the analysis. Overall, Bitcoin's journey towards a final leg up appears imminent, but the subsequent downturn to the 30,000-40,000 range remains a significant consideration. As always, market participants should remain vigilant and adapt their strategies accordingly. Longby candlestickninja111
MAY 10 ’24 - BTC - FORECASTThis is a prediction of the next 24 hours I use a combination of indicators from ChartPrime and luxAlgo. The Green is the daily channel extrapolation continuation ranging from the middle of the previous day’s extrapolation The Orange is the projected extrapolation forecast based on the current day AND the Liquidity Sentiment Profile Happy Trading! -MV Project W/L 11:3Longby EnviroElkUpdated 1
One last Bitcoin Swing Trade before bears takeoverBitcoin (BTCUSD) Weekly Forecast: May 11th - May 13th Overview: As we step into the week ahead, Bitcoin continues to exhibit signs of a bearish flag formation on the weekly chart, indicating potential downside momentum. The analysis considers a series of wave counts (a through e) within this pattern, with stochastic indicators showing a hooking pattern, suggesting a possible bearish turn in the short to mid-term. Market Analysis: Bitcoin, often viewed as a risk-on currency, shows correlation with the S&P 500 market. Notably, the S&P 500 displayed a bullish harami pattern two weeks ago, hinting at further bullish momentum. This suggests a possible upward movement in the S&P 500 towards the 5600 level. However, specific levels are not set in stone, and future rate cuts expected by Q3/Q4 might push it towards the psychological level of 6000. Bitcoin Forecast: In the current scenario, the outlook for Bitcoin is bearish on intermediate and long-term time frames. There's a likelihood of a double top formation around the 73,000 to 74,000 range. While there's a slim chance of surpassing the 80,000 resistance, the more probable scenario is a correction around the 73,000 level before a larger systemic risk-on crash. Long-term Projection: Bitcoin is expected to reach 72,000 to 75,000 (plus or minus 1-2k) before a significant downturn. A systemic risk-on crash could drive Bitcoin prices down to the high 30,000s or lower by early 2025. Conclusion: Given the bearish flag formation, hooking stochastics, and the anticipated performance of the S&P 500, Bitcoin's outlook for the coming week is leaning towards a bearish sentiment, with a potential double top formation around 73,000 to 74,000. However, the overall trajectory suggests Bitcoin's correction might be a prelude to a larger systemic downturn in late 2024 or early 2025. Traders are advised to proceed with caution and closely monitor key levels for potential entry and exit points.Longby candlestickninja1
this correction maybe overthis correction maybe over . im exspecting a drop in the dxy so it may be a doller move not a btc move .this correction could still be a wxyxz . i had 50k as a level for reversal . i am not confident because of how slow the PA is to the upside . Longby matthewdowds2
The Crypto Carousel: BTC, ALTS, and the Money Merry-Go-Round✅ Bitcoin Dominance, BTC, Altcoins ✅ Today we're diving into the fascinating world of money rotation within the cryptocurrency subclasses. We're talking about the rotation of cash between Bitcoin and altcoins, its younger, more diverse siblings. Imagine a pie where each slice represents a different cryptocurrency. The pie here indicates the total cryptocurrency market cap of both Bitcoin and altcoins, which can increase or decrease at any given time. In other words the TOTAL chart. - If BTC market cap increases but altcoin market cap shrinks (relative), the pie stays the same size. - If BTC market cap increase and altcoin market cap increases, the pie size increase and so forth. Total Market Cap ( CRYPTOCAP:TOTAL ) and BTC.D Now, imagine a big shiny carousel. Bitcoin is the majestic stallion at the center, while altcoins are the colorful horses surrounding it. Riders (investors) hop on and off, injecting money into the ride (buying) and taking it out (selling). This constant movement is what keeps the crypto carousel spinning. Let's break it down with visuals: Chart 1: The Bitcoin Rollercoaster This rollercoaster represents Bitcoin's price action, and also my view on where we are in the current cycle. (I believe we're in a multimonth correction, followed by the last impulse wave up). You'll need this to know where we are in the cycle right now / LOWER-STABLE: Chart 2: Bitcoin & Bitcoin Dominance Dance This chart shows Bitcoin's dominance, which is basically its share of the total crypto market capitalization (market cap = total value of all cryptocurrencies). When Bitcoin's dominance goes up (higher on the chart), it means investors are putting more money into Bitcoin, potentially at the expense of altcoins. Conversely, when dominance goes down, it suggests capital is flowing towards altcoins. The difference is clear: Chart 3: BTC.D vs TOTAL3 In this chart, we overlay the Total 3 Priceline (turquoise) on top of the Bitcoin Dominance chart. TOTAL3 shows us all alts except ETH. The Bitcoin Rollercoaster and the S&P 500: Imagine Bitcoin's price as a rollercoaster. When Bitcoin surges (line goes up), it can sometimes lead to increased investor risk appetite. This might entice some investors to move funds from the S&P 500 into riskier assets like Bitcoin, potentially causing a slight dip in the S&P 500. Conversely, when Bitcoin experiences a price drop, investors might flock back to the perceived stability of the stock market, potentially causing a rise in the S&P 500. So, is there a guaranteed correlation? Not quite. The crypto market is a complex beast. But by understanding the relationship between Bitcoin, altcoin prices and dominance, you can get a better sense of where the money merry-go-round might be headed. Remember, this isn't financial advice! Do your own research before making any crypto investments. But hey, with this knowledge under your belt, you're one step closer to navigating the world of crypto rotations! _______________________by CryptoCheck-Updated 16
BITCOIN,4H, 4/5/2024wheen we look on the weekly CHART ... WE CAN SEE that nice candle with long tail.... end we can see good reactions from the buyer's on the daily chat ... I think btc ll move to this levels in this days... down to :61840 up until:72470 ===================== good luckby MOHAMAD-KLUpdated 1110
Btc over the yearsfrom the covid crash to one year later bitcoin did a 20 x cycle low this bear was 15k i do belive we may see a 10x from there the next blow off topLongby cointrustmoon12
Bitcoin MapThe overall technical picture of bitcoin trading. Bitcoin to go beyond 59600 levels Shortby vicarray1
BTC Support ChannelJust watching the theory I have in place that BTC has a line of support and is consistently consolidating in this small channel. From others I have been hearing BTC will go down. by TraderGuy19940
BTCUSD Short 4hr IRL -> ERL4hr retracement back into the fvg for price to continue to the downside to swap the lows of the 4hr candle at 60175 Part of a bigger daily IRL -> ERL play Shortby toxicbitcoin1
BTCA nice TRIANGLE CORRECTION is developing on BTC which is also looking like a HANDLE formation for a CUP. by sandoh223
61,256 and 44 cents is the Cliff's Edge, long way down to 52.8kBull trend at a Cliff's Edge here. Next support is a good ways down. Current support probably tapped. . 52.8k retest was always expected: . Check the "Related Ideas" below for the step by step mapping of the top.by EuroMotifUpdated 20
Strategic Long and Short Opportunities Amidst Market VolatilityBitcoin is trading at $61,072, demonstrating a slight upward momentum of approximately 0.47% within the last trading session. The market is showing signs of volatility as reflected in the recent price movements and the overall trend direction. The Ichimoku Cloud on the 4-hour chart indicates that Bitcoin is currently trading within a consolidation phase. The price is interacting with the Kumo (cloud), suggesting a neutral to slightly bearish sentiment. Tenkan-Sen (Conversion Line): Approximately $61,054 Kijun-Sen (Base Line): Approximately $61,228 The conversion line is slightly below the base line, signaling potential bearish pressure. The current price is within the cloud, indicating a state of equilibrium between buyers and sellers. All significant moving averages (10, 20, 30, 50, 100, and 200 EMA & SMA) suggest a selling signal: 10 EMA/SMA: ~$61,272 / ~$61,337 20 EMA/SMA: ~$61,653 / ~$61,671 50 EMA/SMA: ~$62,076 / ~$62,678 100 EMA/SMA: ~$62,587 / ~$62,210 200 EMA/SMA: ~$63,487 / ~$64,119 These values imply that the short to long-term momentum is leaning towards the bearish side, with the current price being below most of these averages. RSI (14): At 43.19 - Reflects neutral conditions, closer to the oversold territory. Stochastic RSI (3, 3, 14, 14): At 24.57 - Neutral, leaning towards oversold. MACD (12, 26): MACD level at -439.46, signal indicates a sell, showing bearish momentum. CCI (20): -48.68 - Neutral, suggests the market is neither overbought nor oversold. Momentum: Momentum (10): At -1773.60 - Indicates a buy signal, suggesting a potential reversal or consolidation phase. Pivots: Support Levels: S1: $58,773 S2: $53,522 S3: $45,294 Resistance Levels: R1: $67,000 R2: $69,978 R3: $78,206 Price Prediction: Given the current technical indicators and market sentiment, Bitcoin appears to be in a consolidation phase with a slight bearish bias. The key levels to watch are the support at $58,773 and resistance at $67,000. Long Strategy: Entry Point: Consider entering a long position if Bitcoin breaks above the $62,500 resistance level with strong volume. Stop Loss: Set a stop loss around $61,000 to manage downside risk. Take Profit: Target the next resistance at $67,000, with a secondary target at $69,978. Short Strategy: Entry Point: Consider shorting if Bitcoin falls below the $60,000 support level. Stop Loss: Place a stop loss near $61,500 to mitigate losses. Take Profit: Aim for a take profit at the $58,000 support level, with a further target at $53,522 if the bearish trend continues. Bitcoin’s current technical setup suggests a cautious approach, with potential opportunities for both long and short trades depending on key breakout or breakdown levels. Traders should closely monitor the Ichimoku Cloud boundaries, moving averages, and key oscillators to gauge the market's next move effectively. by AxiomEx1
Very small triangle pattern. Very small triangle pattern. Very small triangle pattern. Entry price: 60770, target price: 60163, stop-loss: 60950. It might test 60850 and then drop. I haven't given up on the perspective below 60,000 yet, so I'm entering to maintain the short. Alternatively, as a second perspective, if it goes above 61,000, it might reach the 0.382 point at 61,400 and then come down I entered a short position to see if it will test above again as a double bottom after finding support at 60150, or if it will break through directly for a big short. If it still goes to 61400 after hitting the stop loss, I plan to enter a short position, willing to sacrifice some of the previous profits.Shortby LeeBitUpdated 1
BTC Still has another double top rally atleast So many bears out there that were the same bulls saying Bitcoin 100k are now bearish lol. Get your timeframes in line people. I've been since I called the rise from 28k to 48k then 57k on the same trajectory. WE still have a 70 to 73k double top or rise to some wherein that zone before the big fall that takes us to 39k or less on Bitcoin Longby candlestickninja2