Btclong
BTC/USDT 4HOUR UPDATEWelcome to this quick BTC /USDT analysis.
I have tried my best to bring the best possible outcome in this chart..
BTC /USDT analysis 4hour update is btc strong support 21MA $64400.
and 2nd support 100MA $635000.
Sorry for my English it is not my native languages.
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Bitcoin DipBitcoin got a dump pump 'n dump today. I believe it's due to macro economic factors. Nevertheless as I posted on Twitter already, dips like this can happen. A dip of 10% is nothing compared to the dips that occured in the last bull cycle. We've seen a lot of greed in the market and it's something to really take care off.
I'll remain bullish in the short term if we can stay above 4H EMA's (where the green line has been drawn). Keep in mind the EMA's (of course do move) if we get a candle close beneath the ribbons I'll become bearish in the short term
And since it's dipping it may be nice to buy some additional crypto :)
Bitcoin's bull pennant on the 1HIt looks like Bitcoin is forming a bull pennant on the 1h. The technical target out of the bull pennant is around 70.7K.
I would place my tp just slightly behind the target to prevent it from not being hit.
I would trade this pattern only if it break out to the upside. this how my trade setup would like. What do you think about this set-up?
NFA
Failed Inverted H&S in BTCBTC made an inverted head and shoulder on the 4H timeframe, however, it looks like the
pattern has failed to breakout on the upside.
As long as the price stays in the range defined by the two green lines, we are good.
However, if we break below the channel, expect the alt coins nuke pretty hard.
Potential BTC EntriesThis is what I currently see in the price BTC/USD.
It got a rejection on the 58K level (Red box which acts as resistance).
The next major level of support is 53.5K approximately. It also shows confluence with the 0.236 fib level.
If I'm going to enter I'm planning to place my orders at around:
53.6K
52.6K
51.5K
50.8K
49.8K
48.6K
I would place the different orders because I don't want to have some capital to buy in at lower prices.
But if we go lower then 48K, we might have a problem I think.
Bitcoin went on sale todayBitcoin is still moving within the falling wedge and as you can, a double bottom (indicated by the yellow lines) and has formed on the 1H.
So, the technicals are bullish on the short timeframe, I’ve scooped up some cheap crypto and on the 4h we got a massive rising wedge. But I’ve got more stables to buy in IF we eventually decide to go lower.
This is my publication #21. Let me know what you think of it and if you have any questions, suggestions, feedback or other inquiries let me know and do not hestitate to send me a message and to leave a comment! I’m also just a trader.
BTC Long term viewUsing logarithmic curves by @quantdelic and my awful drawing skills, I'd like to believe that BTC could be valued at more than 30 mil by 2035.
Ofcourse, this could be due to inflation (mass dollar printing, infinite QE, etc) or BTC taproot or more bitcoins being lost (currently standing at 33% of total supply lost)
It doesn't have to be one or the other, actually.