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Bitcoinforecast

BITCOIN triangle breakout was expected 64k will be next targetBITCOIN The recent bullish trend has given a strong confidence in crypto investment. Bitcoin has managed to break the 60k level and felled back again below 60k level Currently it was trading below the 59k level.At this level we can see a consolidation phase for the past 3 days soon we can expect a breakout here. I have identified one triangle formation here which is a clear sign of upcoming breakout on either side.On downside 50% Fibonacci will hold BTC in remain in Bullish territory while writing this analysis the price is just above the 61.8% Fibonacci level this will also provide support for bullish trend. The 50,100,200 Exponential moving averages was acting as support for bull.Ichimoku cloud is still green and proving cloud support.Bollinger band was slowly constricting a but which is a sign of either side breakout. RSI is well above 50 level,MACD is still green and the band was minor only. Stochastic has reached around 75(short term fall was expected) Trend line drawn from 11/03/2021 will act as dynamic support and resistance for both the bull and bear. 54K was acted as clear support for bull twice. We can buy while retracing towards 50.00% Fibonacci if we missed this chance we can also buy after clear break and retest. The possible upper side target was 64k. Trade call Buy @ 57500.00 Take profit @ 64000.00 Stop lose @ 57750.00
BITSTAMP:BTCUSDLong
by forexorbit
Bitcoin 4hr analysis 3-14-2021Good morning Ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I have the 4 hour time frame pulled up after holding onto 60 K more or less throughout the day yesterday. I guess we can pat ourselves on the back for that. Meanwhile we do have some bearish news that I will address through this analysis. I also have some good news as well so we can focus on both and you can make your own mind up. I am fresh off of a 3 day ban via Facebook so I am happy to be able to finally post again. I have missed you all dearly. Anyways let's take a look at the chart and see what we can see. So we are just below 60k at the moment. Nothing to get freaked out about. We have been floating above and below 60k the entire time I have been looking at the chart this a.m. As you probably all know the weekend is typically lower volume when compared to the Monday through Friday work week. More people tend to trade during the week and exchanges like CME flat out close on the weekend. This is where the bearish news comes into play. I guess we can focus on the bear news first. That way we can have a happy ending. The bear news isn't devastating or anything but it does signal that a drop could be in order on Monday. We will just have to wait and see how it plays out. We all know that we experienced a rise over the weekend of a few thousand dollars. This typically results in a bearish gap. These gaps form on the CME during the weekend when the price rises. The CME closes Friday at whatever the price is at the close {This past Friday the close was close to 57250 according to the CME chart } and the price right this second is 60k approximately. That makes a nearly 3k gap below us which may cause quite a dip Monday morning. Let me say this.. Not all dips are created equal so do with this information what you will. This is just a warning to watch the charts. Those gaps fill more often than not within 24 hours. Okay enough about gaps. Especially the bear gaps. Lets talk bull. We are above the set up on my chart. As my buddy Ernie Villz would say, "The path of least resistance seems to be up." That means there is a lot more evident support than resistance. This alone can give traders the confidence to long an already overbought market. That is what fomo does. I saw it in 2017 and this pump seems different. I guess due to the fact that it was a perfect storm really. Let me explain. 1 year ago almost to the day we dropped. HARD. We fell from 10500 USD to 3800 in a matter of 48 hours. Quite the dip. If you took that dip {percentage wise} and applied it to the price today we would drop from 60k to 24k respectively. That would be a blow to morale lol. Just want to give you an idea of what it was like to be in the market 1 year ago. Watching a wallet lose 65% over the course of 2 days was not easy... Let me tell you. But look at it now. I bought more around 4k. Best investment I have ever made. But since that drop volume came roaring back. The halving occurred less than a year ago and that assisted the pump. Couple that with stimulus payments and inflation along with breaking 20k and other key resistance along the way and you have a recipe for an explosive market. Proof is in the pudding! The gap I drew on the chart is conditional. If the weekend closes around 57800 there likely wont be a gap. Anything can and usually does happen in this market so be prepared for anything folks. Set a stop loss. There is no excuse not to. Unless you are long term holding and in that case you need to find some cold storage. Bybit is great and so is Ledger. Cold storage is safer than an exchange wallet by miles. A little security can go a long way. Problem is most people dont care about security til its too late. I missed you guys over the last 3 days.. But Im back today and I will be sharing my analysis again as usual. Stimulus checks are hitting US citizens accounts as I type and that could provide a pump to the BTC market. That is why I would be careful with that gap. Maybe we will fill it right away. Maybe not. I see gaps that have been on the chart for years. So not all gaps fill like their brothers. Some fill in minutes and some take years apparently. Maybe it will never be filled? Anyways I hope you all have a great day! Make good choices my friends and always remember WTFDIK??? TLDR: Bulls are fighting to keep 60k. We may have a bearish gap to start Monday... {Closed Friday around 57800 and current price is 60 so that is a few thousand dollar gap} Just keep an eye on things. If that gap does fill its a great opportunity to make a quick profitable trade to start off your Monday!
by UnknownUnicorn4304403
Bitcoin 4hr analysis 3-7-2021Good morning again ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I am looking at the 4 hr time frame pulled up again after a decent bounce. We are in much better shape than yesterday and things look prime for another possible higher high. Anyways lets take a look at the charts this a.m. and see what we can see. The bulls woke up early today apparently and they decided the 4hr 200 MA was the time for a pivot and climb above support. The very same support that was resistance yesterday. The 4hr 50 MA is below us now along with the 4hr cloud. All bullish occurrences. But the real test is on at the moment. We poked out of the top of the triangle on the chart but we really need that confirmation candle to close to ensure the break is legit. And the current 4hr candle has 30 mins left its life so lets see if it can remain above the cloud and the triangle. One can clearly see that the 4hr 200 MA is strong support as the last 2 times we approached the indicator you had a real shot at entering a profitable long position. This is something you should take notice of in case we end up in a situation where we test other indicators such as the daily 50 MA and the daily 200 MA. With the reliability of the 4hr 200 MA very evident I imagine the daily will be even stronger. The daily time frame is the most important of all time frames imo. So now that we broke above the triangle (and the cloud to boot) We have clear skies above us. That is if we can manage to stay above support and 50k. I see a bearish gap on Monday due to the recent rise But that will be more clear to me in the morning. Things are looking really good to start the week.  With the stimulus bill passing through the govt passing we can expect some of that money to enter the crypto market. I am not saying we should expect a trillion dollars in new volume but I will say I do expect some people to throw their money into the market. We see directly after approval of the stimulus the market responds positively. One reason could be due to the influx of new volume or the fact that inflation will almost surely cause the price of BTC to rise while the USD loses value.  I really hope we can hold onto this bullish break this morning and as people decide to exit their slumber and look at the charts they may fomo into the market seeing this break. But this is pure speculation at this point. What we do know is we broke above the 4hr 50 MA, the 4hr cloud, and the triangle pattern we were stuck in for weeks. All bullish! So lets make this week a good one! Make good choices yall! And always remember... WTFDIK??? TLDR: Sunny skies, no clouds. Bears sleeping in. Life is good
by UnknownUnicorn4304403
Bitcoin 4hr analysis 3-6-2021Good morning again ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I am looking at the 4 hr and things are going like I assumed they would since I recognized this pattern. Support and resistance are clearly defined and now its just a matter of escaping this consolidation! I am going to try something a a bit different today and accompany this analysis with a video analysis. So I may not type as much. I know that will break some hearts LOL :) Anyways lets take a look at what is happening. The consolidation is real! We are stuck in the cloud as I type and this has been the case for 4 days now. That shows how reliable of an indicator the "ichimoku cloud" can be. When you enter the cloud its not so easy to escape and that is what we are seeing here. If we can exit the top of the cloud the bull market should be alive and well but if we fall out of the bottom... Well all I will say is set a stop loss. This week has been pretty flat in terms of price movement. I guess we are spoiled as investors and are used to several thousand dollar swings in this market. But a little breather may be what the market needed? Only time will tell. Stimulus talks are going on as I type and that could add more capitol to the market. Along with devaluing the USD through a massive printing effort. I mean if they are going to inflate our currency we may as well buy BTC and benefit from their short sightedness. We broke out of the 4hr cloud this week but the support didnt hold unfortunately sending us right back into the clutches of the 4hr cloud and we have been stuck there for the majority of this week. Right now the saving grace happens to be the fact the 4hr 200 MA (blue line) is right at the bottom of the cloud. This means double support which should remain strong through the weekend I imagine. That is if this strong support holds. If we lose the support all that stands between us and a real dip is the support of the former ATH at 42k... I will say this, I really hope the bulls have a few giant green candles up their sleeves. But I will not be greedy. I will stick to my plan and if I decide to enter a long you better believe I am entering my stop loss right after. Right now is not the time to be cute with your bags. If a dip is coming you should be ready. Another thing I should mention is get cold storage. If you plan to sit on BTC long term start thinking more about security. Cold storage is so much safer than storing in a hot wallet (exchange or wallet app off the playstore that looks sketch af) Learn to protect your investment. If you lose your $$ you want it to be because of your awful trading, not because some jerk phished your pw away... I hope you all have a great day and make good choices! WTFDIK?? TLDR: Bears suck. Cmon Bulls lets roundhouse kick these bears back into their hibernation caves
by UnknownUnicorn4304403
Bitcoin 4hr analysis 3-2-2021Good morning again ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I have the 4hr pulled up after a nice little bounce from support. Can the bulls keep the momentum going though? We have retaken some lost support so things definitely look better today than yesterday in my opinion. Anyways lets take a look at the charts.  I can see that since I fell asleep last night the bulls led the charge and retook the 4hr 50 MA. Nice work bulls! That was a big step towards extending the bull run. Although we are not quite out of the woods yet. The 4hr cloud is current resistance and if we cannot muscle our way above the 4hr cloud this mornings recovery may be short lived.  So we are sitting just below 50k and things look decent. The resistance of the 4hr cloud vs the support of the 4hr 50 MA. I can tell you that if you plan to long this set a stop loss. This is the most important time to set a stop loss as the market truly could go either way and you should be prepared for that.  Taking a closer look at the 4hr and a number of candles back we had a nice bounce from the 4hr 200 MA. This is why I enjoy using the indicator. The 50 MA and the 200 MA have always been quite reliable in my trades. So after seeing that bounce from the 200 MA and seeing us retake the 4hr 50 MA this may give traders the confidence needed to go long. Confidence is always abundant when support is abundant and right now we have a nice amount of support directly below us (on the daily and the 4hr)  So if we can muscle our way up above the 4hr cloud we have a real shot at another pump to a possible new ATH. Only time will tell for sure. I will be watching the charts today to see what the bulls do with this new found support. I hope you all have a great day folks! Make good choices! And always remember WTFDIK???  TLDR: Bulls woke up early and retook the 4hr 50 MA. We need to retake the 4hr cloud next to keep the momentum moving. Cmon bulls! 
by UnknownUnicorn4304403
Bitcoin 1 day analysis 2-28-2021Good morning again everyone and welcome back to my daily look into the world of Bitcoin. Today I have the daily time frame pulled up and I can see we are holding on to 45 K by the hair on our chinny chin chin. Weekends are known for being low volume event so this doesn't surprise me too much. But will Monday result in a green candle or two? That's the question on my mind. Let's take a look at the chart...  I still say there is a lot of support between 42 and 45 k and that coupled with the 50 ma being below us I am still ultimately boys although I have made sure my stop-losses are set accordingly. We are currently just below 45k but with this in mind we may have a bullish gap above us Monday. Only time will tell if this results in a bullish start to the month of March but as you all know I do like playing gaps so I will be watching.  In my opinion if we were to lose the support of the daily 50 MA or 42k I would likely be bearish. Let's see how the daily, the weekly, and the monthly close tonight. Lots of big time frames ending cycles so it is certainly something we should watch.  The way we can turn back bullish In my opinion is to retake the 4hr 50 MA. I love the 4hr time frame and when I saw us lose the support of the 4hr 50 MA I was discouraged. Now I will be watching the 50 MA on that daily time frame. Of it holds I believe BTC is still bullish. If not we could see those lower highs that are so common in a bear market.  I would love another Bullish month (March) but I'm not holding my breath. The writing is on the wall for bulls and im not saying we are going down yet. But I am saying set a stop loss. Many alts took a hit overnight. But there is still a chance that the bulls can flip the script. I hope you all have a great day! Make good choices! And always remember WTFDIK? TLDR: Wake up bulls and let's retake the 4hr 50MA. Someone wake Musk up and tell him to tweet something bullish lol
by UnknownUnicorn4304403
Bitcoin 1 day analysis 2-27-2021Good morning again ladies and gentlemen and welcome back to my daily look into the world of Bitcoin. Today I have the daily time frame pulled up as it is really doing well with my trading set up at the moment (50 MA, 200 MA, Cloud) The bears have made their presence known once again as the candles dropped from roughly 60k to 45k in a matter of days. I know that this price movement may be scary to you noobs but this is actually quite common with BTC. Anyways lets take a look at the charts. We are currently cruising along right above some key support that really needs to hold if we expect this run to stay alive. The 4hr 50 MA was lost over this week and that is bearish in itself. But the daily is the real deal in my opinion and as long as we remain above the daily 50 MA there is hope for a pivot. But that doesnt mean you should depend on a pivot. Rather set a stop loss and hope for the best while preparing for the worst. If this daily 50 MA holds we have a real shot at a decent long. So currently there is a lot of support between 42k and 45k. This could keep confidence high enough to keep the bull market alive. I would be even more confident if we make it to Monday above 45k. Weekends are known for lower volume (not always but more often than not) so Im not expecting too much. But I will be ready for anything and everything. Being a trader there is no other way to do it. Stay on top of them charts or you will get REKT. Nothing goes straight up forever. Even if the bull market does continue after the recent dump from nearly 60k, that does not mean corrections wont be on the chart as well. Its the very nature of a cyclical market. If you truly believe in Bitcoin long term the recent 20%-25% drop we saw should not bother you. Even if you did buy at 58k. Yes you do hold the heavy bags at the moment but I was you 3 years ago. Buying at 18k and watching the profit dwindle into actual losses. I lost even more chasing alts. Really I was buying into the pumps. Not before the pumps. Which means I was left holding bags while early investors sold. But that is the nature of the beast. Gotta learn to earn and sometimes that means getting burned. I see the 4hr 50 MA (I know this is the daily chart but I drew the 4hr 50 MA for your convenience) is the current line in the sand for the bulls. If we can retake that 4hr 50 MA that could be the start of another pump. Of course only time will tell. We got rejected already one time this week trying to retake the 4hr 50 MA. But not all hope is lost yet as we still managed to hold onto 45k as support. That coupled with the fact we are above the 50 MA on the daily shows there is still hope. Although I would not enter a long without a strict stop loss. I hope you all have a great weekend and make smart choices folks! WTFDIK??? TLDR: 42k - 45k shows promise as strong support. 4hr 50 MA (green line) is (IMO) what we need to conquer to keep the bull run moving.
by UnknownUnicorn4304403