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Bitcoin Analysis: Shakeout or Rally? Let's Read The Chart!The Crypto market is buzzing with speculations right now! Some believe that the recent fall in Bitcoin was nothing more than a shakeout, and a massive rally is just around the corner. Meanwhile, there’s news floating around that the federal government has sold a huge chunk of BTC and plans to sell even more. But here’s the thing: financial markets don’t run on speculations, and news usually hits the market after the action is already done. So, let’s forget the noise and get straight to the business of reading what the chart is telling us. Before we dive into the analysis, ask yourself this: What kind of trader are you? When you invested in the market, did you have a plan? Was it a short-term play (swing trade) or a long-term investment? For Long-Term Investors If you’re a long-term investor, there’s no need to worry. The trend for Bitcoin is still bullish on the daily time frame. What we’re seeing now is just a corrective move, and this is how price behaves—it moves in waves. Every dip is an opportunity. The next key buying zone for long-term investors lies between 70500 - 74000, a level that hasn’t been tested since the breakout on 6th Nov 2024. So, be patient and let the price come to you. For Short-Term Investors If you’re a short-term investor, this analysis is specifically for you. Currently, Bitcoin’s price has been moving consistently upward over the last few hours. It has even broken out of the last lower high. However, let’s not get carried away just yet. There are multiple resistance zones above, and it won’t be an easy ride for the buyers. These zones offer an opportunity for sellers who missed the chance to short from the top. The real turning point for buyers will be the 0.618 Fibonacci level. Once this level breaks and the price sustains above it, we might see buyers gaining confidence to push the price higher. Also, don’t forget to check out my detailed analysis of the Ethereum chart.
BINANCE:BTCUSD
by khanrafat20
BTC - At Support once againAfter touching earlier predicted first target of 102 price has fallen more than expected and holding at previous proven support levels. In my view BTC is once again at support and some fresh buying or accumulation is visible. For whatever reason price could dance for big players to buy more at support levels. Its popular idea to buy back whatever was partially booked at 102 levels. we cannot avoid this and we might see partial selling above 102K again and buying below 97K. Higher the price move up most will keep booking profits and more the price move low more buying is the trend now. Jan is the month we are waiting for banana spike to take price to 125 or above. Hope it happens once new president takes charge in office. As days near to this even I expect more bullish move in BTC. I do not see WW3 in Jan 2025.
Long
by venkatfx
Elliott wave count: we are in Wave 4-5I will present my way of counting Elliott waves to identify the upcoming local top of BTC. Each Elliott wave researcher and practitioner will have their own way of counting, and each counting method has its own basis and weaknesses. I hope to receive feedback from traders who use the Elliott method. For those traders who do not use this method, please feel free to refer to it if you find it interesting or useful. 1. BTC has broken the downtrend from the end of 2021, and I consider the start of the impulse wave to be late November 2022. Wave 0-1 extended until April 2023. 2. The duration of Wave 1-2 is not shorter than the duration of Wave 0-1, therefore Wave 1-2 ended in August 2023. 3. Using ExFibo, I determined that Wave 2-3 = 1.618 Wave 0-1. Wave 2-3 ended in March 2024. 4. The duration of Wave 3-4 is not shorter than the duration of Wave 2-3, therefore Wave 3-4 ends in September 2024. 5. The most important thing right now: predicting Wave 4-5. Wave 2-3 was larger than Wave 0-1 so there is no limitation for Wave 4-5. I can list some cases that we can follow: a) Wave 4-5 = Wave 0-1 => BTC may form a local top at ~$103K. b) Wave 4-5 = Wave 2-3 = 1.618 Wave 0-1 => BTC may form a local top at ~$155K. c) Wave 4-5 = 1.618 Wave 2-3 = 2.618 Wave 0-1 => BTC may form a local top at ~$295K.
INDEX:BTCUSD
by MrSpasybo
Bitcoin 2H SMC Chart Analysis: Bearish Outlook Bitcoin 2H Chart Analysis: Bearish Outlook Currently, Bitcoin is forming a Lower Low (LL) and Lower High (LH) pattern, signaling a potential bearish trend in the short-term. Key support levels to watch are around $88,000 and $85,000. 📉 Next Targets: $88,000 → $85,000 🚫 Critical Level: A 2H close above $101,000 would invalidate this bearish outlook. Note: If Bitcoin holds below $100,000, expect a possible decline to $85,000. Remember, always set your stop losses to protect your funds in case the trend shifts.
Short
by CryptoPatel
2
BTC - Up or Down ? Its going up !!!BTC has taken support at lower side of the megaphone, went up in first wave and has come down for second wave and very clearly taking support at Fib level of 61.8 as shown in chart which indicating any time third wave will start which will take BTC to 102. 104 and 108 in the impulsive up move. Movement of BTC is Bullish, movement is slow due to low volume may be due to holiday season. In less than a month with new Govt in US, BTC is positioned to move up and surely not a Sell for sure. weak hands in very very small qty is only seen in volume indicator while moving down. Stay safe in Buy side with enough margins like Mountain strong and new high is coming.
by venkatfx
Bitcoin Elliott Wave Breakdown: Sharp Drop Ahead?Bitcoin Elliott Wave Breakdown: Sharp Drop Ahead? Elliott Wave Insights: #Bitcoin may be forming an Expanding Diagonal (ED) in Wave 3, signaling potential retracement. Wave 2's shallow nature raises caution for long positions. Scalp Short Setup: ⚫️ Entry: $106k–$108k ⚫️ Targets: ◾️ 0.382 FIB: $90,048 ◾️ 0.5 FIB: $85,063 ⚫️ Stop-Loss: 4H close above recent ATH. ⚠️ Risk Management: Use tight stops; avoid high leverage. Bullish momentum persists. Plan: Waiting for clearer corrections to enter long. Always DYOR. CRYPTOCAP:BTC
Short
by CryptoPatel
2
Cautious on Bitcoin: Expecting a Sharp Pullback Before LongCautious on Bitcoin: Expecting a Sharp Pullback Before Long 1⃣ Current Stance: Cautious on long positions in CRYPTOCAP:BTC due to the shallow nature of Wave 2 and the potential for an expanding diagonal (ED) formation. 2⃣ Entry Plan: Planning to open a long position in #Bitcoin but waiting for a clearer correction. 3⃣ Market Expectation: Expecting a sharp pullback, though the exact dip is uncertain at this stage. 4⃣ Next Steps: Will provide further updates after additional confirmations are observed. Note: This is NFA. Always DYOR before making any trades.
Short
by CryptoPatel
1
Bitcoin Big Decision: $100k Breakout or $75K Drop?#Bitcoin Big Decision: $100k Breakout or $75K Drop? 🔰 Key Levels: ▪️ $100k Resistance: CRYPTOCAP:BTC is showing weakness around this psychological level due to low trading volume. ▪️ Swing Low Support: $95,650 – A breakdown here could signal bearish momentum. ▪️ Trendline Resistance: $94,100 – Breaking below this level may lead to a 10%-20% correction. 🔰 Bearish Outlook: If #BTC breaks both $95,650 and $94,100, downside targets are $85,000 and $75,000. 🔰 Bullish Case: If BTC holds above $94,100, a continuation toward $120K is possible, supported by volume. ⚠️ Risk Management: Current volatility is high. Traders should monitor these key levels closely and use stop-loss orders to mitigate risks.
Short
by CryptoPatel
Bitcoin Market Cycle:Bitcoin Market Cycle: The #Bitcoin market Cycle is here to repeat its historical pattern! Looking back at 2016-2017 and 2020-2021, we know exactly what’s coming. The next cycle starting in 2024-2025 looks promising: BINANCE:BTCUSDT BTC Cycle: 2016-2017 🔹 Pre-Halving: Jan '16- Jun '16 🔹 Halving: July '16 🔹 Accumulation: Aug '16- Dec '16 🔹 Bull Run: Jan '17 - Dec '17 BTC Cycle: 2020-2021 🔹 Pre-Halving: Nov '19- Apr '20 🔹 Halving: May '20 🔹 Accumulation: Jun '20- Oct '20 🔹 Bull Run: Nov '20 - Nov '21 BTC Cycle: 2024-2025 🔹 Pre-Halving: Oct '23 - Mar '24 🔹 Halving: Apr '24 🔹 Accumulation: May '24- Sep '24 🔹 Bull Run: Oct '24 - Oct '25 Today Date: 20th Nov 2024 Hold Tight. altcoins are primed to pump massively. It’s going to be an exhilarating journey!
COINBASE:BTCUSDLong
by femtoxbt
Will Bitcoin History Repeat after US Election ?#Bitcoin and US Elections: History Repeats? Looking back at the last two US elections, we’ve seen a strong Bitcoin bull market follow each one. Let’s take a look: 📅 2016 US Election (November): ➡️ Before the election, BTC was at $700 ➡️ Within a year, BTC soared to $19,900 📅 2020 US Election (November): ➡️Pre-election price: $13,600 ➡️ Just a year later, BTC hit an all-time high of $69,000! Now, with the US election tomorrow, is this another CRYPTOCAP:BTC buying opportunity based on past trends? 🔮 My Prediction: By next year, November 2025, #BTC could reach $150,000 - $180,000. Let’s see if history repeats! #Crypto #BullMarket
BITFINEX:BTCUSDLong
by CryptoPatel