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Trading Bitcoin over the weekend - Long & Short levelsAfter consolidating from its recent high of nearly $72000 bitcoin tested 66500 levels and might rally from this point over the weekend or the mid of next week. A break from these levels may mean that the buyers aren't able to cope up with the shorts in play. So for you all to understand the right levels and not fall prey to the trap of the consolidation zone I've managed to put the trades that might help you over the weekend and the coming week ahead. Again, this is not a buying or selling recommendation, I do not advice taking trades without proper knowledge and guidance from your mentor.
by kaustubhkokate
2
$Bitcoin ($BTC) good setup : One Simple Horizontal line-In consolidation for 3 months (Long base means Big Breakout) -Tested 71800ish resistance level multiple times and this time after testing took support of 10 ema (2 wicks) n signalling reversal. -Good Shakeout U&R (Undercut and Rally, when price go lower than last lower: kicking out weak players , taking out their stop losses and rally back to upside) -Signal Candles: Big Green Candles with vol showing buyers in action.
Long
by takmanish007
6
BITCOIN first 70k then 55k & then Bullish#Bitcoin at Daily Chart Analysis CRYPTOCAP:BTC market is still in volatility mode, and has made its lower-high but is currently in almost the last leg of the uptrend cycle with some ups of $3k-4k and it will be soon make its higher-high on the daily chart at $68k-$70k. Will completed..! After that, its last down cycle will run, which will at least retest the previous level of $56k here or it can also break-out and will go to $55k to GETTEX:52K for the last timer lower-low. Into next 20-25 days..! After that, Bitcoin's #BullRun cycle will start completely in Uptrend mode from here, which will run on #Elliott Wave Cycle for the next 6-8 months..! Rest, do your research and invest and trade by using #DYOR & #StopLoss and, Comment, Like, Share, Follow on Posts..
Long
by AskToRahulSirohi
Look at the big pictures. Ready for a big short to USD 34500-2Part2 : I wanted to explain my first analysis in a little detail. Liquidation again at USD 34,500 before bitcoin's astronomical increase would be a realistic approach. Liquidation of large amounts of long positions is required before this increase. I think this return will occur with a reverse SHS formation. It is necessary to see the big picture. In the big picture, I predict that the return will occur with a reverse head and shoulders formation. I think that the elite upward wave started in the big picture with Bitcoin's bottom point at 14500 USD. THE FIRST ELIOT RISE WAVE HAPPENED AT THE LEVEL OF 73 THOUSAND DOLLARS AND NOW I EXPECT IT TO RETRACT TO THE LEVEL OF 34500 DOLLARS. AFTERWARDS, I HOPE A WAVE WILL CONTINUE TO GO TO $220,000. ****Please note that there is no significant increase in volume as we move to the 73 thousand dollar level. **Disclaimer for Crypto Trading:** Trading cryptocurrencies carries inherent risks, and it's important to understand the following: Cryptocurrency markets are highly speculative and can be subject to extreme volatility. Prices can fluctuate significantly within short periods, leading to substantial gains or losses. Investing in cryptocurrencies involves the risk of total loss of capital. Unlike traditional assets, cryptocurrencies are not backed by any tangible assets or central authority, making them inherently risky. Regulatory uncertainty and market manipulation are additional risks associated with cryptocurrency trading. Regulatory changes or negative news can have a significant impact on prices. This analysis is for informational purposes only and should not be construed as financial advice. It's crucial to conduct thorough research and consult with a qualified financial advisor before making any investment decisions in the cryptocurrency markets. By using this analysis, you acknowledge and accept the risks associated with cryptocurrency trading and agree to trade at your own discretion. The author of this analysis shall not be held responsible for any losses incurred as a result of using the information provided.
Short
by ysfknnn
#Bitcoin Elliott Wave Count Analysis ( Ready for $44000 ?)#Bitcoin Elliott Wave Count Analysis Intermediate Degree: ▪️We are observing a potential wave (3) down of a descending impulse on the 1-day chart. ▪️Target: $48,000 - $44,000. Primary Degree: ▪️The 1-day chart suggests wave C down of a zigzag pattern is in progress. ▪️Target: $58,000 - $61,000. Cycle Degree: ▪️At the cycle degree, wave ((ii)) down of an ascending diagonal appears to be forming. ▪️Target: $52,000 - $58,000. Disclaimer: This analysis is based on current market conditions and the Elliott Wave Theory. Always conduct your own research before making trading decisions. Stay tuned for more updates and detailed insights. Please Like/RT & Appreciate
Short
by CryptoPatel
1
Bitcoin (BTC) technical and fundamental analysis📈 Technical analysis BTC/USDT During the corrective movement, the price of Bitcoin reached all three targets from our previous review: the Imbalance 4H zone, the Imbalance 1D zone, and the support level of 57,000. The recent downward wave in the price of BTC was driven by the reluctance of the US Federal Reserve to lower the key interest rate and the outflow of funds from US spot Bitcoin ETFs. Consequently, the price consolidated below the EMA 50 4H line and corrected to the 0.78 Fibonacci level. In the near future, we anticipate sideways movement with possible rebounds for a retest of the descending trendline resistance. In case of further correction, the next target for the price decline of BTC could be the Imbalance 4H zone at 53,000 - 56,000. Significant volume gaps exist at horizontal trading volume levels in this zone, which need to be filled by trading activity. Additionally, below this zone lie the trendline support, the dynamic support line EMA 200D, and the psychological level of 50,000. If they fail to hold against selling pressure, the price may decline to the next Imbalance 1D zone at 44,000 - 47,000. For the resumption of growth, Bitcoin's price needs to overcome the dynamic resistance line EMA 50 and consolidate above the descending trendline. In this scenario, the path will open for the price to retest the historical maximum in the area of the significant resistance block at 73,000 - 75,000. 📉 Bitcoin market global analysis Despite the recent decline, Bitcoin is still in an upward trend. It's worth reminding that BTC has demonstrated almost uninterrupted growth since 2023. Now, the market needs a correction at least to the 0.38 Fibonacci level, where Bitcoin's price can test the 200-day moving average. Historically, halving events increase investors' risk appetite and shift their focus to altcoins. This is evidenced by the fact that during the last halving, Bitcoin's dominance index reached 57% and then sharply declined. During this period, Bitcoin's price may remain in a sideways movement with high volatility for quite some time. After the completion of the correction, we expect a gradual resumption of growth, as seen during previous cycles after halving. Above the current all-time high, there are no more resistance levels based on historical data. Therefore, to determine growth targets, we will use trendlines, Fibonacci extension levels, and analysis of accumulation of large order blocks in exchange order books. We have a local ascending trendline, relevant since November 2023. Its test could occur around the 75,000 level, confirmed by a significant block of pending orders. Above, in the range of 80,000 - 90,000, lies the global trendline constructed based on the peaks of the two previous Bitcoin cycles. There lies the 1.38 Fibonacci extension level as well. The highest trendline is in the range of 1.61 - 1.78 Fibonacci levels, and its test could start from the 100,000 level. 💠 Analysis of zones and levels for making trading decisions Fear and Greed Index is currently in the neutral zone at 48. The total cryptocurrency market capitalization has fallen to $2.156 trillion, and Bitcoin's dominance index has decreased to 54.22. According to the analysis of accumulation of large order blocks in exchange order books, the demand and supply zones are located at the following levels: 🟢 Demand Zone: 48,000 - 56,000 🔴 Supply Zone: 70,000 - 80,000 Levels for long positions: 55,000 - major support block 52,000 - retest of the EMA 200D line and trendline 50,000 - psychological support level Levels for short positions: 70,000 - retest of the resistance trendline 75,000 - major resistance block 80,000 - major resistance block 📊 Fundamental analysis The fundamental reasons behind the current decline in Bitcoin are: - Reluctance of the US Federal Reserve to lower the key interest rate. - Outflow of funds from spot Bitcoin ETFs. - Selling pressure from Bitcoin miners. - The prison sentence of Changpeng Zhao, the founder of the largest cryptocurrency exchange Binance. On April 20, the long-awaited Bitcoin (BTC) halving occurred, resulting in a halving of the block reward and miners' incomes dropping to 14-month lows. Experts believe that the risk of miner capitulation is increasing along with the decline in the price of Bitcoin. If the price continues to fall over the next few days and the decline extends for several weeks, major miners may face the need to initiate large-scale sell-offs to hedge their risks. On May 1, the outflow from spot Bitcoin ETFs reached $563.8 million. The iShares Bitcoin Trust (IBIT) fund managed by the world's largest asset manager BlackRock lost $36.93 million. The outflow of funds for the previous trading day was the highest since January. While many experts view this as the beginning of a bear market, the key on-chain metrics indicate that it is simply a correction and the long-term outlook for the digital asset remains bullish. Long-term holders mostly anticipate further Bitcoin price growth. 🌐 Upcoming Events in the Global Economy We expect increased volatility in both stock and cryptocurrency markets on the following dates: ➤ May 9th, 3:30 PM - US Unemployment Data. ➤ May 15th - US Consumer Price Index (CPI). ➤ June 12th, 9:00 PM - New Decision on Federal Reserve Interest Rates. ➤ July 31st, 9:00 PM - New Decision on Federal Reserve Interest Rates. 📈 Statistics of signals from our AI trading indicator: Our trading indicator, as always in advance, predicted the current price action and gave the most profitable entry points into positions with minimal risk. Thanks to the latest updates, maximum take profit levels have already been taken, and the price movement according to the latest signals on the spot was: BTC +10.46% ETH +12.71% SOL +14.82% In addition, I would like to share the forecast of the latest Bitcoin price action by our AI, which not only indicates the direction, but also builds the trajectory of further price movement:
by TradeINEX
BITCOIN BROKE THE TIGHTENING BEARISH MOMENTUM WHAT'S NEXT?HELLO TRADERS. As you already know those who followed my previous post about Bitcoin remember that I said if it breaks 63440 to the upside a Bullish trend might start, well thanks to the news events here it is. On 4HR chart given in this one you can see price has broken the bearish trendline along with 1st Daily Horizontal Support that I marked and is being headed for the second one, my big idea about this breakout is let's wait for a nice sweet time consolidation on 4HR after that breakout or retest of the 1st Horizontal Support when one of these things happens and we see another breakout to the upside then we trade bullish momentum until it reaches weekly supply zone or worse a reversal happens
Long
by vipulchauhan763
2
Bitcoin Update on 15.05.2024Bitcoin Update on 15.05.2024 A.O.A And Good Morning To All Brother and Sisters! Today Is Important Day. CPI number Day. And Bring a Lot Of Volatility. And Maybe The Right Day To Complete our Retracement. Take In Mind All Arrows. These are The Main Resistance and Supports. Retracement Level On Weekly TF is 54613. If We Touch This Level then We Have Finally The Direction After Reversal Confirmations. Today I Suggest Again To Sit Back And Wait Closing Daily Candle. Because CPI Number Bring a Lot Of Volatility. Wish You All Very Nice Day.
by MoonTradingForecast