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Bitcoin 4hr analysis 12-25-2020Good morning again ladies and gentlemen and welcome back to my daily look into the charts of Bitcoin. Its Christmas and I guess we all got the gift of a new ATH today. Nicely done bulls! Nearly kissing 25k is something to be proud of and we should all pat ourselves on the back for putting up with the last 3 years. As we sit in uncharted territory can we break 25k and keep the momentum up through the end of the year? Lets take a look at the charts. As we cruise along above 24k I am encouraged. We have not spent a lot of time above the 15k level. At least not until now. Back in 2017 we spent literally hours at the ATH (19800) before seeing the bottom fall out less than a few weeks later. The bottom can still fall out folks. You need to be prepared for the worst while hoping for the best. With that in mind lets discuss support at this level. Okay the previous ATH a few days back was around 24350 or something close to that. Now we are above that at 24400. Which to me looks like former resistance is now support. We got rejected at the 24350 level, beat the resistance and now its support. The farther up the chart we climb the less likely the bears will take us down. At least below 20k. Its totally possible to see us drop and I expect a drop. But only time will tell how that will materialize. The bulls gave us all a good Xmas present and we should all be thankful. We are sitting on a new ATH and things still look surprisingly good on the major time frames. We are above the 50 MA and the 200 MA and the ichimoku cloud as well. All bullish! But I have that stop loss set just in case! You should set a stop loss as well. As much as I want to keep seeing the bulls tear up the chart I have that feeling the bears are waiting for the perfect time to strike. But its Xmas so enjoy your day and your new ATH folks! I didnt write as much as I usually do today. I have family over and we are doing the Xmas thang. I just sneaked away to type this up real fast. Someone posted we broke 25k this a.m. so I jumped on as soon as I could lol. We didnt quite break 25k on Binance but I still like what I see. Have a great Xmas everyone and make good choices my friends! And always remember... WTFDIK??? TLDR: I dont care what your mama says... Xmas time is here..... I dont care what your daddy says.. Xmas is full of cheer!!!
by UnknownUnicorn4304403
Bitcoin 4hr analysis 12-24-2020Good morning again ladies and gentlemen and welcome back to my daily look into the exciting world of Bitcoin. Today I have the 4hr time frame pulled up and I see consolidation has taken hold. The bulls have taken us to new heights this year and I for one am quite impressed. But nothing goes up forever and a retrace should be on all of our minds. Even if it doesnt happen and we keep going up, being prepared is never a bad thing. Stop losses are a good way to do just that. We have 1 more week in 2020 and we are holding onto 20k with all our strength. But will it last through 2021? Lets take a look at the charts this morning. We have been cruising right along in the 23300 since I analyzed the chart yesterday. Bitcoin is soaring high and the gains have already stuck better than those of 2017. Meaning we have spent around a week above 20k vs back in 2017 where we spent a few hours at ATH levels. But this time it seems different with the lead up to this bull run. 2017 had no halving. 2017 had almost 0 institutional interest in Bitcoin. 2017 had no 2.5 year trend break to kick start the bull run. 2017 was different. BTC dominance was lower in 2017 as alts were hot back then. Now more attention is directed at Bitcoin. The differences between 2017 and 2020 are apparent, no doubt about that. But will it equate to gains that stick? The 4hr 50 MA has been a friend for most of the bull run. Barring a few times where we dipped below the indicator (orange line on the chart) we have spent the majority of the run above the support bouncing off of it numerous times. In runs like this I look for indicators that have reliable data like this. I can make trades off the bounces. Its not rocket science. Just common sense. Being able to identify trends and patterns early will equate to more profit. We are really testing that 4hr 50 MA at the moment so make sure you have a stop loss set. With all that is going on in the world many external factors have become an issue with the recent movement of Bitcoin. The stimulus that is still in the works will likely effect the price of Bitcoin along with the pandemic etc. Its just a crazy time politically and economically. Nothing any of us can really do except ride it out I suppose. Just look at it like this. The stimulus will likely result in massive money creation. This should make BTC rise in terms of US dollars. Bitcoin's own volatility could certainly outpace the effect of inflation but something has to give. When you print trillions of US dollars in such a short time inflation hits. So technically BTC is not going up in value. But rather the US dollar is losing value. Im sticking with my plan. Stop loss set and if we go up I will move that stop loss up. If we drop Im out. Reentry later. Speculation is fun but ultimately it may not be as helpful as we hope. Bitcoin is going to go up and down. Nothing we can do about that. What we can do is make money off the dips and rises. That is what we are here for anyways right?? Even if you hold long term you are basically a trader too. You just take 1 - 5 years to close trades lol. Nothing wrong with long term investments. I do both trading and long term. I really like taking advantage of BTC when it drops to sub 5k. I like to put any BTC I buy at those levels into my cold storage and let it sit. It makes me feel good knowing I bought at those levels and am up quite a bit. There was a bit of fud with a certain alt that has been hogging attention as of late. I hope the bad news does blow over soon. Not because I am a huge alt coin fan but because its crypto. Even XRP. When outsiders see issues like this it may or may not shed a bad light on BTC. I hope this SEC stuff blows over soon. For everyones sake. We are all in this together. Like football teams so to speak. We may poke fun at the other teams but at the end of the day we all play the same game and should have a certain amount of respect for one another. I hope you all have a great day. Lets crush 25k before New years folks! LOL. Please make good choices! And never forget. WTFDIK??? TLDR: Consolidation. -------> plenty of support below us. Things look good for now. If we can stay above the 4hr 50 MA I think that will be bullish. If not we will see what happens
by UnknownUnicorn4304403
Bitcoin (BTCUSD) Trend based on FractalFor the same fractal previously my analysis went wrong, because this wasn't a perfect match. But the current chart shows perfect matching of fractal from the month of May- July matching with mid Nov -present. I my previous post I also mentioned that BTC is bullish so their is a possibility of failure of analysis and that actually happened. In the current condition also such possibility exits but to lighter side. Since BTC has crossed it's ATH so their is a lot possibility that most big,smart investors had sold their coins. which decreases the chances of increase in price. Also in previous bull run of 2014 to 2018 around ATH of 2014 BTC had a huge correction. So considering all the above factors I believe opening short positions are safer than long positions. Also booking some profits and waiting for good buy around support levels is better.
Education
by Parth_agrawal
Two buy opportunities on this chart for NEOBTCMid-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.00173). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NEOBTC is in a uptrend and the continuation of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 70. Take Profits: TP1= @ 0.00199 TP2= @ 0.00213 TP3= @ 0.00232 TP4= @ 0.00252 TP5= @ 0.00274 SL= Break below S2 --------------------------------------------------------------------------------------------------------------------- Short-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.00180). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . NEOBTC is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 73. Take Profits: TP1= @ 0.00199 TP2= @ 0.00205 TP3= @ 0.00228 TP4= @ 0.00245 TP5= @ 0.00273 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
9
Two buy opportunities on this chart for LENDBTC Mid-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.0000577). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . LENDBTC is in a uptrend and the continuation of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 57. Take Profits: TP1= @ 0.0000699 TP2= @ 0.0000785 TP3= @ 0.0000874 TP4= @ 0.0000996 TP5= @ 0.0001150 SL= Break below S2 ----------------------------------------------------------------------------------------------------------- Short-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.0000628). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . LENDBTC is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 58. Take Profits: TP1= @ 0.0000699 TP2= @ 0.0000785 TP3= @ 0.0000874 TP4= @ 0.0000996 TP5= @ 0.0001150 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
LLong
by ForecastCity_ME
11
Two buy opportunities on this chart for LINKBTCMid-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.00110). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . LINKBTC is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 50. Take Profits: TP1= @ 0.00139 TP2= @ 0.00153 TP3= @ 0.00169 TP4= @ 0.01153 TP5= @ 0.01360 SL= Break below S2 --------------------------------------------------------------------------------------------------------------- Short-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.00114). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . LINKBTC is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 52. Take Profits: TP1= @ 0.00129 TP2= @ 0.00139 TP3= @ 0.00153 TP4= @ 0.00169 TP5= @ 0.00192 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
12