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Bitcoin (BTC/USD) Price Action Analysis Introduction Hold on to your digital wallets, fellow traders! We're diving into the latest price action of Bitcoin (BTC/USD), where the recent breakout has left us all on the edge of our seats. Let's dissect this chart and see what the crypto king is up to. 🚀💰 Price Action Overview Chart Analysis Current Price: $55,992.52 24-Hour High: $57,027.91 24-Hour Low: $55,909.09 Volume: 111.36 BTC (yup, that's a lot of virtual coins moving around!) Key Technical Indicators Rising Wedge Pattern: A bearish pattern indicating a potential reversal. Breakout Confirmation: Price has broken below the lower trendline of the rising wedge. Volume Analysis: Noticeable increase in volume during the breakout, hinting at strong market participation. Detailed Analysis Rising Wedge Pattern Pattern Description: A rising wedge typically forms during a downtrend and is considered a bearish continuation pattern. Implications: The breakout below the lower trendline suggests that bears are taking control. The support might be a bit weak here, like a soggy cardboard box trying to hold up your crypto dreams. Breakout Confirmation Breakout Level: Around $55,992.52 Implications: The bearish breakout indicates that the price might continue to decline. Time to buckle up, this ride could get bumpy! Volume Analysis Volume Trend: Volume has spiked during the breakout, adding credibility to the move. Significance: High volume during a breakout is often a strong indicator of the move's validity. In simpler terms, the crowd is chanting, and it doesn't look good for the bulls. Support and Resistance Levels Immediate Support: $54,600.00 - Keep an eye on this level; it might just be Bitcoin's life raft. Immediate Resistance: $57,864.53 - The bulls need to conquer this to regain any lost ground. Conclusion Bitcoin has shown a bearish breakout from a rising wedge pattern with substantial volume, indicating potential for further downside. Traders should monitor the immediate support level at $54,600.00 and resistance at $57,864.53 for potential bounce or continuation points. Stay vigilant, and may your trades be as fruitful as a bull market in full swing! Disclaimer This analysis is based on historical data and chart patterns. Always do your own research and consider your risk tolerance before making any investment decisions.
COINBASE:BTCUSDShort
by TRADING-NASA
Bitcoin 4H Swing Setup - Bitcoin is now down 15% from its recent swing high - I have drawn 2 Price Paths for Bitcoin - The first price path describes how Bitcoin can soon run up clear the Fair Value Gap and then pierce 60k and bounce from 56-58,000$ - The second price path describes how Bitcoin can soon run down grab liquidity from 56-58k and then move up towards 64k - Bitcoin is currently sitting in a no-trade zone even if you are looking for longs or shorts make sure your leveraged positions are carrying a calculated risk
BITSTAMP:BTCUSD
by VKtradesimbalance
IS BITCOIN GOING TO CRASH ? BITCOIN LONGTERM VIEWIS BITCOIN GOING TO CRASH ? BITCOIN LONGTERM VIEW when we look in day chat bitcoin showing these thing. 1. first of all its break a trend line shown on chat 2. its not filled the 52.000 lable and created a gap thats mean it fall again and fill the gap 3. its also breaked the all support lines there is no resistance so it will fall a lot with out any doubt 4. here buyers are ready to buy but showing a huge downward pressure it gonna trap her and fall a lot 5. volumes are also showing far more fall overall mening is .. i want to ask you 2 question 1 ask youself Q1. is bitcoin time over Q2. what is your opinion in this longterm setup just comment below im waiting for your comment. and last JAY JAGANNATH . when we look in day chat bitcoin showing these thing. 1. first of all its break a trend line shown on chat 2. its not filled the 52.000 lable and created a gap thats mean it fall again and fill the gap 3. its also breaked the all support lines there is no resistance so it will fall a lot with out any doubt 4. here buyers are ready to buy but showing a huge downward pressure it gonna trap her and fall a lot 5. volumes are also showing far more fall overall mening is .. i want to ask you 2 question 1 ask youself Q1. is bitcoin time over Q2. what is your opinion in this longterm setup just comment below im waiting for your comment. and last JAY JAGANNATH
CRYPTO:BTCUSDShort
by tradergyan01
Bitcoin Technical Analysis - Bitcoin is currently trading with a very choppy price action. - Investor's sentiment washout has been done for 2 months where altcoins got nuked and beaten down badly - What's cooking next, IMO if you are planning to buy every dip that you see then its better that you do not, crypto in terms of Bitcoin and Ethereum has stayed strong but altcoins are making new lows every day so I prefer adding Bitcoin Solana Ethereum instead of alts - I am going to keep my eyes on 55,000-56,000$ for Bitcoin it might revisit that - Don't forget aggressive short sellers are going to open more aggressive shorts that might lead to another round of shorts liquidation up to 68,000$
BITSTAMP:BTCUSDLong
by VKtradesimbalance
Crypto Total Market Cap Analysis- The next wave for crypto Total Marketcap is going to be huge and parabolic - It will be very important to see how the market reacts from zone and whether it can hold the level of 2.1 Trillion or not - New Highs for the total market cap is programmed anyways but its crucial to understand how the reaction will be from the current price action - Altcoins are currently sitting at a very nice zone and I still think accumulating Alts here will be very profitable and helpful - Make sure that you are accumulating good Altcoins, Bitcoin, and Ethereum in Spot.
CRYPTOCAP:TOTALLong
by VKtradesimbalance
2
Bitcoin Technical Analysis Bitcoin appears to be bullish on a 4-hour timeframe. However, it is still possible that there may be one or two liquidity grabs that could shake out more weak hands. In general, I would like to see how the market reacts to the price at 69000$ before making any further decisions. If you are interested in accumulating Bitcoin, I would suggest a 30% spot accumulation in this zone. The remaining 70% can be kept when Bitcoin trades around 45,000-50,000$.
Long
by VKtradesimbalance
BITCOIN GOOD DOWN MOMEMTUM DETECTED FOR SHORTTERM ALSO FOR LONGBITCOIN SHOWING A GOOD FALL A good falling detected on bitcoin It's showing a fall due to these reason 1. It's following the triangle pattern over here 2. It's ready to break the neckline 3. After a good. Move refreshment will occur Just grab out will your own risk With a small amount Stay connected Stay happy ITS A SETUP FOR SHORT TERM ALSO FOR LONGTERM Follow for more A good falling detected on bitcoin It's showing a fall due to these reason 1. It's following the triangle pattern over here 2. It's ready to break the neckline 3. After a good. Move refreshment will occur Just grab out will your own risk With a small amount
CRYPTO:BTCUSDShort
by tradergyan01
1
Bitcoin Technical Analysis & Levels - Bitcoin has recently been very sideways and volatile - I wouldn't call it bearish since the price has been consolidating in a range and the movements are quite range bounded - The only concern for Bitcoin, IMO is that it can get dangerous if it closes a weekly candle below 58,000$ and post that we will see more downside in Bitcoin watch that out. - Bitcoin needs to hold the second the Spot accumulation zone or else things will get really dark - Warning you all the worst so that you allocate yours funds accordingly and stay prepared. Everybody stays prepared for the best but nobody stays prepared for the worst because we are in generation where everybody is too outcome oriented and nobody cares about the risk on the table #btc #bitcoin
BITSTAMP:BTCUSD
by VKtradesimbalance
BITCOIN SHOWING A GOOD FALIt's showing a good falling due to the following reasons 1. First of all it's faceing a resistance from the upper marked trend 2. Second the deep confidence comes from the secondary neckline breaking on 15 min chat 3. Third confirmation comes from in days chat it's completely bearish Like if agree Follow for more It's showing a good falling due to the following reasons 1. First of all it's faceing a resistance from the upper marked trend 2. Second the deep confidence comes from the secondary neckline breaking on 15 min chat 3. Third confirmation comes from in days chat it's completely bearish Like if agree Follow for more
CRYPTO:BTCUSDShort
by tradergyan01
Bitcoin Trade SetupBitcoin is currently trading in a crucial zone - Logically I think Bitcoin's price has not retracted a lot which is necessary - Coming back to our thesis, if you are holding Bitcoin then you still can - If you want to trade Bitcoin I think 59,000-64,000$ can be a great zone to accumulate it with 50% of your total investment value - If you want to accumulate altcoins by looking at Bitcoin's price then my opinion would remain the same. However, you must consult your financial advisor before making any investments
Short
by VKtradesimbalance
Bitcoin Dominance Trade Setup- Bitcoin DOM is currently moving sideways but BTC DOM itself can help you easily predict where the money is going to flow next - With the help of this correlation your bias becomes easier and you know where to focus instead of just technical analysis - If BTC Dom starts moving up from here then you need to stay a little cautious about your Altcoins entries, I would suggest having patience and letting it soar until you see it getting rejected - If BTC Dom starts to move down impulsively all you have to do is let your winners run and if you don't have any then focus on building partial SPOT Swings. - Risk on the table shouldn't be breached or expanded if you can't handle it. Social media outlets are good at portraying and making Trading look pleasing and flashy whereas the real meat is boring and time valued majorly
CRYPTOCAP:BTC.D
by VKtradesimbalance
False Bitcoin rumors revealing real market sentiment False Bitcoin rumors revealing real market sentiment Fake news sent Bitcoin up about 10% on Monday, surging from $27,900 to over $30,000 after Crypto news site Cointelegraph posted on X that the Securities and Exchange Commission had approved BlackRock’s spot bitcoin ETF application. In response to the rumor, BlackRock had to clarify that no decision had been made regarding their ETF application. Even though the rumor has now been debunked, Bitcoin is still up more than 5%, at $28,600, with some movement suggesting that buyers are still willing to prob for more gains. The 10% upside move has perhaps provided us with a preview of what might happen when/ if the SEC eventually approves or rejects BlackRock's Bitcoin ETF application. It could also be argued that we are also getting a glimpse into what could happen if the SEC rejects the application, with targets set at the pre-rumor price of $27,900 the first port of call.
BLACKBULL:BTCUSD
by BlackBull_Markets
BTCUSDT SHORT 15 MIN ENTRY @3025 SL @30353 TGT@30010, 29800, 29540 + After a SL in long entry previously I have taken a short position as per my setup post retest and a breakdown of support. There is also a bearish crossover and it is below 0 level so let us see if this takes a SL or target. There is no shame in taking SL for me as I know my setup gives me a 1:5+ ratio in trades so I do not mind taking SL 5-10 times straight. I tried taking trades on 5 min they work on BTC but now as 15 min or 1 hour. So from next time I will try to trade only on 15 min min frame ignoring shorter frame of 5 or less in Bitcoin.
BITSTAMP:BTCUSDShort
by rrithe9