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Bitcoin (Cryptocurrency)

BTCUSDT ( Bitcoin ) Coin Analysis 29/09/2021Fundamental analysis: it is very obvious that the asset is at distribution phase on its bearish trend, though many countries are accepting it as a legal tender but there are many more reasons that the coin is on its way to the lower levels of its past appreciation and we can have one more glimpse of this asset on its very undervalued levels before the reaccumulation phase starts. soon we can hear more negative news which may mislead us that it is falling due to some silly reasons but it is nothing than the simple supply and demand and outdate of the technology. from other side we can see bitcoin is loosing its Dominance and it can be interpreted as the fund diversification to the AltCoins. we shall observe some diversion and correlation coefficient change of BTC and other altcoins specially DEFI segment and other powerful blockchains. but we believe Bitcoin will survive this bearish trend also and live to see the higher levels such as 85000$ or even 107000$ Technical Analysis: the Asset seems to be not able to break the 23.6 FIB Retracement which is followed by an engulfing candle pattern and it can be a good sign of retracement reversal towards the lower levels such as 78.6% (17000USD) of the main bullish wave with top of 64850 USD. with Bearish Bias we can have the C leg of the ABC chart pattern which is the correction of the main Elliot wave count. we count 17000$ and lower to be the best undervalued prices to Purchase and accumulate the Asset. there exist a very powerful resistance area from 55000$ to 58000$ as this zone has confluences with Main distribution and bearish 78.6% Fib Retracement of the bearish wave. there exist a very very strong support area between 9000$ to 15000$
by BitonGroup
4
Correlation between different assetsCorrelation is a measure that establishes the degree of relationship between different assets. It is measured on a scale of +100% to -100%. In the case of a +100% correlation (perfect positive correlation), both assets move in an identical manner in the market. Conversely, if the correlation is -100% (perfect negative correlation), we are talking about two assets that move in an exactly opposite manner. Correlation is a crucial measure to consider because not being aware of the correlations between assets could inadvertently increase our risk. For example, if we open a sell position in NDJPY and another with the same lot size in NZDUSD based on an analysis conducted on the 4H timeframe, we would be multiplying our risk by 2 due to the high correlation between both assets in that timeframe (88%). The correct way to handle this situation may be to either reduce the risk of both trades by half or only trade the pair with a clearer scenario in your analysis.
BITSTAMP:BTCUSDEducation
by JRiquelmeTrading
#BTC 🟢 M15 Buy (Bitcoin). ImbalanceI planned to open buy positions near the lower border of the H1 range (30K). But since the imbalance formed a reversal pattern, he took advantage of the situation offered by the market. By the way, at the moment a short situation is brewing in the market. The price was below the market opening. (✔️) The price was below the level of the First Buyer of exchange options. (✔️) The price was at the lower boundary of the H1 range. (✔️) M15 imbalance. (✔️) Second target above H1 range (⚠️) input: 30435 (input on imbalance test) stop: 30175 tp-1: 30697 tp-2: 31221
BITSTAMP:BTCUSDLong
by TrEKone
Trade like a casino Operator (Risk Management) Trading Like a Casino Introduction: If you want to become a successful trader, it's essential to adopt a mindset similar to that of a casino. In this tutorial, we will explore how casinos operate and extract valuable principles that we can apply to our own trading. Two key components of a casino's success are having an edge and implementing effective risk management. By understanding and replicating these principles, we can increase our profitability in the long run. How does a Casino operate? - Casinos operate with an edge, meaning they have an advantage in every transaction. - Understanding the concept of probability is crucial. Games like roulette demonstrate that the outcomes are not evenly split between options. - Casinos calculate their edge by analyzing the probabilities of each outcome, which allows them to ensure profitability. - Risk management is also a vital aspect of a casino's operation. They set maximum limits on bets to protect their downside. Trade like a Casino - As traders, we want to replicate the casino's success by incorporating the same principles into our trading. - Our goal is to have an edge in every trade we take and implement effective risk management to protect our capital. - By aligning these two components, we can create a profitable trading system. Applying the principles to trading - Trading is a probability game. Each trade has a probability of going up or down. - To gain an edge, we need to identify the probability of our trades and establish our trading style. - Having a high probability trade doesn't guarantee success, but it improves our chances. - Risk management is crucial to protect our capital. We should only risk a small percentage of our account on each trade (e.g., 2%). - Balancing our edge and risk management will help us become successful traders. Backtesting and refining strategies - Once we have identified our edge and established risk management, we need to test our strategies. - Backtesting involves analyzing historical data to see if our strategies have been consistently profitable. - By testing and refining our strategies, we can ensure they work in real market conditions. - Continuous evaluation and improvement are necessary for long-term success. Conclusion: Trading like a casino involves having an edge and implementing risk management. By understanding and applying these principles, we can increase our profitability as traders. Remember to assess the probability of each trade, establish risk management rules, and test your strategies. Just like a casino, our goal is to create a consistently profitable system that ensures long-term success in trading.
NSE:NIFTYEducation
by Abbhishekumr
The Last Bear Rally is here! Elliotical approach to BTCUSD.Hello Traders! 1. The idea was originally published on 19th Feb and will be attached. 2. We see a break of the 25250 high as we had expected in the previously published idea. 3. BTCUSD tested 161.8% level and fell over 2000 points in a couple of hours. Not a mere resistance, it's much more than that. 4. Some consolidation is expected before we place our sell orders. From when this idea gets published, I expect a move up in the hourly tf above the said red line. Once the market moves beyond the red line and gives a closing in the 1hr tf, we can place sell orders below the Red Line. 5. One thing I've learned the most in trading experience is that when the whole lot is buying like it's a bull run that never ends, we sell. And when the whole lot is absolutely pessimistic about the market, we buy . Obviously, we should back this psychology with fundamental or technical analysis. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748
54
#BTC 🔴 H1 SHORT (BITCOIN) Possibly W1 PPR ⬇️Interesting developments in Bitcoin. It seems that they tried to break through 31k several times, but at the same time, the 30k resistance worked out many times. But the last powerful impulse on the background of FUD took out the stops of all the longists, who stubbornly gained their positions in the LONG for a long time. We have been moving in the H1 range for a whole week, and most likely, the last downward impulse predetermined the current situation in BTC. At the D1 resistance, and the upper limit of the H1 range, a Double Top has formed, a Global Imbalance Level, which the price has already tested. And this gives an excellent signal to open a sell position. A retest of the imbalance is still possible, after which, with a high probability, we will go into the long-awaited correction, to the lower border of the H1 range (29982) and up to the previous Impulse Level (28737) p.s. In addition, on W1 we have a hint of the formation of a Bearish PPR, the implementation of which will definitely send the price to the level of 28.8-28.6K. p.p.s. In addition, the current Bitcoin Futures Contract on the Chicago Exchange expires on 07/01/2023. Accordingly, there should be significant volatility in the market. input: 30605 (on unbalance retest) stop: 31227 tp-1: 29982 tp-2: 28737 BITCOIN
BITSTAMP:BTCUSDShort
by TrEKone
Double Top Patten Or Poll And Flag Patten in Bitcoin What do you think? It's A Double Top Patten Or It's a Big Trap (Bitcoin) After a Strong breakout of 27,000 Flag patterns with volume. Bitcoin easily achieved the 31,456 level in just 4 days this is a 2023 new High of bitcoin. 📢What is the next movement of Bitcoin? As is shown in Bitcoin Chat Last Recently when the "Poll and Fleg" pattern breakout there are Two levels where the price will go... 1️⃣First Price Level 31000 the top of the poll and flag pattern 2️⃣Second Price Level 38000 According to the poll hight So, Bitcoin achieved 31000Level, and Now it was stuck at (31,450 to 29,530) in this whole week. As we show other Markets were going down like Indian stock, Gold, and Forex market. But in the case of Bitcoin, I thought its a "Distribution Zone" Or The second scenario is buyers are booking their profit. Because in the Daily chart, bitcoin was not close to any candle above the 31,000 level this show that This is a "Double Top Patten" is making... ??? What are you think about it let me know in the Comment or Reply section!!!!
by Mohit-Soni