BTC/USD - weekly Analytics + Altcoins 08.11.2021Our expectations concerning the local decrease of bitcoin quotations have not come true yet, but the probability of price decrease remains because the investors' mood is still on the ultra-optimistic marks. What exactly will be the amplitude of correction and where will be its minimum, we will see after its completion.
Altcoins:
We single out TRON and TFUEL as the most promising coins for the development of a stable growing trend.
BTC-USD
BTC/USD - weekly Analytics + Altcoins 01.11.2021Bitcoin is in a correction phase from 20.10.2021, confirmed by a false break from the level of 62.830. We expect the continuation of its formation, the potential lows of the rollback will be tracked in the development. Investor sentiment is at optimistic levels, which also confirms our expectations for the continuation of the decline in quotations.
Altcoins:
We highlight TRON and TFUEL as the most promising coins to develop a sustainable rising trend.
💡Don't miss the great buy opportunity in BTCUSD @BitcoinTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (59488.35).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. BTCUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 61212.25
TP2= @ 62184.77
TP3= @ 63717.33
TP4= @ 64977.46
TP5= @ 66968.48
SL= Break below S2
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BTC/USD - weekly Analytics + Altcoins 25.10.2021At the moment the price is correcting to the descending impulse from 20.10.2021-24.10.2021, the key level for the potential false breakdown is $62,800, if we see an impulse decrease under this level, the probability of the downtrend continuation will increase, the minimums of correction should be monitored during the movement.
Altcoins:
We select TRON and TFUEL as the most promising coins for the development of a stable growing trend.
On HIVE it is worth to fix profit, at the moment the idea of growth of the coin is not relevant.
BTC/USD - weekly Analytics + Altcoins 18.10.2021At the moment investor sentiment is on the very optimistic levels and the upward impulse from September 21, 2021 is formed, which increases the chances that the quotes will go into a local correction. The targets are not clear yet, they are around $50,600.
Altcoins:
We single out TRON and HIVE as the most promising coins for the development of a stable growing trend.
We also see high growth potential in TFUEL coin
BTC/USD - weekly Analytics + Altcoins 11.10.2021The key resistance level in bitcoin is 58.283. Most likely, we will see a bounce from this level and going into a local correction, which will not change the main upward direction.
Altcoins:
We highlight TRON and HIVE as the most promising coins to develop a sustainable rising trend. (the idea is confirmed by local growth impulses)
We also see high growth potential in TFUEL coin
BTC/USD - weekly Analytics + Altcoins 04.10.2021Our expectations regarding the formation of a false breakdown are confirmed by the impulse growth. At the moment the price is consolidating before the continuation of the ascent of quotations, investor sentiment is at neutral levels. The key resistance will be at 5.579.000, its overcoming will open the way to the new targets.
Altcoins:
We highlight TRON and HIVE as the most promising coins for the development of a sustainable rising trend. (idea is confirmed by local growth impulses)
We also see high growth potential in TFUEL coin.
BTC/USD - weekly Analytics + Altcoins 27.09.2021Zig-zag shaped correction from 07.09.2021 - 21.09.2021 with a high probability ended with a false breakdown from the level of 43.000$, the pessimistic sentiment on the price lows confirms this idea. Further we expect a hike to the $50,000 level with further overcoming it.
Altcoins:
We highlight TRON and HIVE as the most promising coins to develop a sustainable rising trend. (the idea is confirmed by local growth impulses).
We also see high growth potential in TFUEL coin
BTC/USD - weekly Analytics + Altcoins 20.09.2021The key level of 42.800 has been broken through. With a high probability this very level will be the impetus for further growth of bitcoin . The general trend remains growing, in our view, the continuation of strengthening of quotations is only a matter of time, impulsive unidirectional growth waves will confirm this idea.
Alts:
We single out TRON and HIVE as the most promising coins for the development of a stable growing trend. (the idea is confirmed by local growth impulses)
We also see high growth potential in TFUEL coin.
BTC/USD - weekly Analytics + Altcoins 13.09.2021Bitcoin is consolidating locally to the descending impulse from 07.09.2021, after the consolidation completion we expect the growth to the area of 50.000 USD, then with a high probability the price will go down to the level of 43.200 to form a false breakdown. After its drawing the long-term ascending of quotations will continue.
Altcoins:
We single out TRON and HIVE as the most promising coins for the development of a stable growing trend. (the idea is confirmed by local growth impulses)
We also see high growth potential in TFUEL coin.
BTC/USD - weekly Analytics + Altcoins 06.09.2021Correction that started on 10.08.2021 takes the form of a diverging triangle, which indicates a clear interest of buyers. The growing trend continues, there are no signs of trend reversal, the next important resistance is near $58,000. When this target is reached, growth may slow down and go into correction, then we will follow the development.
Altcoins:
We single out TRON and HIVE as the most promising coins for development of stable growing trend. (the idea is confirmed by local growth impulses)
💡Don't miss the great buy opportunity in BTCUSD @BitcoinTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (34180).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. BTCUSD is in a range bound, and the beginning of an 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= @ 37920
TP2= @ 39515
TP3= @ 40780
TP4= @ 41870
TP5= @ 43805
SL= Break below S2
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💡BTCUSDT Second Chance: Profit=26% SL=6% Reward/Risk > 4.3:1Second Chance Trade Setup summary:
Profit targets=26% = {TP2 = 1.5% + TP3 = 4.5% + TP4 = 7.5% + TP5 = 12.5%}
Stop Loss =6%
Reward/Risk > 4.3:1
New Trading suggestion:
". There is still a possibility of temporary retracement to suggested support line (32460) again.
if so, traders can set orders based on Price Action and expect to reach short-term targets."
New Take Profits:
TP3= @ 33000
TP4= @ 34000
TP5= @ 34960
TP6= @ 36500
SL= Break below 32000
--------------------------------------------------------------------------------------------------
Current Status of First Buy:
Total Profit: 55%
Closed trade(s): 25% Profit
Open trade(s): 30% Profit
Trade Setup:
We opened 6 BUY trade(s) @ 29940 based on 'previous Forecast' at 05.01.2021:
Closed Profit:
TP1 @ 32000 touched at 05.01.2021 with 6.5% Profit.
TP2 @ 32460 touched at 05.01.2021 with 8.5% Profit.
TP3 @ 33000 touched at 05.01.2021 with 10% Profit.
6.5% + 8.5% + 10% = 25%
Open Profit:
Open trade is 33940(current price) - 29940(open price) = 10%
3 trade(s) still open, therefore total profit for open trade(s) is 10% x 3 = 30%
Technical analysis:
. BTCUSDT 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 60.
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Long-term forecast BTCUSDAfter analyzing the chart, I came to the conclusion that the trend of the uptrend in BTCUSD will continue to move towards the renewal of the historical maximum, as well as consolidation higher with subsequent growth.
There are 3 trend lines on the chart:
1. The purple trendline is a mirrored trendline of both support and resistance, giving us insight into the boundaries of important historical BTC price movements.
2. The yellow trend line is the global trend of the corrective movement of the BTC price after the historical high with the current resistance formation.
3. The orange trend line gives us an understanding of the impulse of the corrective movement, and most importantly, with an un-updated LOW, it is powerful trend support in our situation.
The idea of creating this forecast arose from the movements of the chart from cycle to cycle, each cycle has a certain initial and final action. If we look at the chart, we will see vertical lines - these are the stages of cyclicality, which gives us an understanding of the beginning of the movement, as well as its completion with extinction at the end of the cycle.
My vision is that at this stage of the market it is cycle 4, which does not lend itself to the analysis of horizontal support and resistance levels, but, as we see on the chart, there is an Elliott wave analysis, which gives us an understanding of the further movement of BTC.
The upward trend of BTC will show its dynamics after January 2021. According to the current forecast, we can see in this period the formation of a new historical maximum, as well as the price fixation in this range. The example shows the Elliott impulse wave, which reflects my vision of the market.
Z1 is the global momentum level for the general direction of the market. When the price approaches from top to bottom to the level border, we open a long position in LONG.
Z2 is the mid-term level of the impulse of the corrective movement. When the price approaches from top to bottom, it also gives us a signal in LONG.
This forecast proposes to open LONG positions only on corrective movements and focus on the plotted levels.
Closing short-term positions (in the current cycle, yellow and orange trend lines) are used to place STOP orders, as well as the Elliott wave line.
(the graph of the Log mode (Toggle Log Scale), which switches at the bottom right)
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After a significant drop in Bitcoin price , the price is in a correction wave.
What makes the chart interesting today is that:
. Bitcoin is likely to challenge the 18042 ~ 18227 resistance area.
. A break above 18227 could push the pair to the 19487 area .
. A resistance rejection , however could lead to another retest of the lower supports.
Will the Bitcoin see a rejection from the resistance area or an upside breakout?
No one knows it! We have to wait and see!
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Don't miss the great buy opportunity in BTCUSDTTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (10371).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. BTCUSDT 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 57.
Take Profits:
TP1= @ 10840
TP2= @ 11111
TP3= @ 11442
TP4= @ 11886
TP5= @ 12468
SL= Break below S3
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💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
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Trade well, ❤️
ForecastCity English Support Team ❤️