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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
Look at the big pictures. Ready for a big short to USD 34500 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. **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
1
long-term bullish trend can be expected.Since the beginning of 2023, the Bitcoin price has witnessed strong buying pressure and the price has surged by 270%. It recorded an all-time high of $73,808 on March 14, 2024, and underwent a correction phase. The price has been defending the major support level of $61,000 from the beginning of March. In the first week of May, the asset price slipped below the major support level but buyers were strong enough and lifted the price over the $61,000 hurdle. At press time, the Bitcoin price traded at $60,957.00 with an intraday gain of 0.13%. The market capitalization is $1.19 Trillion and the fully diluted market cap is $1.27 Trillion. The 24-hour trading volume is $26.12 Billion and according to the volume, it ranks 2nd in the cryptocurrency market. Bitcoin price has been defending the major support level of $61,0000 and trading at the same level at the time of writing. The buying trend has halted near the $70,000 hurdle and declined by forming lower lows and lower highs. BTC price has formed a bearish candlestick pattern at the falling trendline. Suppose the sellers show interest and the price starts trading below the major support level of $61,000, selling pressure can be seen and melt to the 200-day EMA. If the asset price fails to defend the 200-day EAM, most of the investors may prefer to book profit which may lead to a strong selling pressure. On the other hand, if the Bitcoin crypto price triggers a breakout from the trendline and sustains then the buyers may show interest and may gain bullish momentum. Assuming this buying momentum is supported by the trading volume, buyers may eye for a new all-time high, and a long-term bullish trend can be expected. Based on the chart structure, the major support level is $61,000 and another support level would be $52,000. If the price gains bullish momentum then it could be interrupted near the $71,000 hurdle and another resistance level would be $80,000.
Long
by Sam_TCR
An Analysis of Bitcoin: Unveiling the Macroscopic TrendsIn the vast landscape of financial markets, Bitcoin stands as a beacon of innovation and volatility. Its journey from obscurity to mainstream recognition has been nothing short of remarkable, captivating the attention of investors, speculators, and analysts alike. Delving into the depths of its price action, we embark on an analysis that transcends the minutiae of daily fluctuations, focusing instead on the broader canvas of macroscopic trends. Bitcoin, the pioneering cryptocurrency, operates within a decentralized framework, free from the shackles of traditional financial institutions. This inherent autonomy infuses Bitcoin with a unique character, prone to wild swings and meteoric rises. Understanding its movements demands a blend of technical prowess, market sentiment analysis, and a keen eye for broader economic trends. At the heart of our analysis lies the examination of larger time frames, where the ebbs and flows of Bitcoin's price action reveal profound insights. Zooming out from the noise of hourly or daily charts, we discern the formation of significant patterns and trends that span weeks, months, or even years. Employing technical analysis tools such as moving averages, trend lines, and Fibonacci retracements, we chart the trajectory of Bitcoin's price movements. Through this lens, we identify key support and resistance levels that serve as pillars in the edifice of price discovery. These levels, when breached, often herald significant shifts in market sentiment, triggering cascading effects across the cryptocurrency landscape. Accompanying our technical analysis is a thorough examination of fundamental factors that influence Bitcoin's valuation. From regulatory developments and institutional adoption to macroeconomic trends and geopolitical tensions, a multitude of variables can sway the market sentiment towards or against Bitcoin. Crucially, risk management remains paramount in any analysis of Bitcoin or indeed any financial instrument. While the allure of potential gains may be enticing, prudent investors always consider the downside. Setting stop-loss orders and defining clear profit targets mitigate the inherent risks associated with trading or investing in Bitcoin. It is imperative to recognize that this analysis serves as a guide rather than a guarantee. The dynamic nature of financial markets ensures that no prediction is infallible. Therefore, it is prudent to consult with a qualified financial advisor before embarking on any trading or investment strategy. In conclusion, the analysis of Bitcoin in the larger time frame unveils a tapestry of trends and patterns that shape its trajectory. By blending technical analysis with an understanding of fundamental drivers and a disciplined approach to risk management, investors can navigate the tumultuous waters of cryptocurrency markets with greater confidence. However, prudent caution and professional guidance are indispensable companions on this journey of discovery.
by Sanil1912
Bitcoin Update 08.05.2024A.O.A and Good Morning to All Brothers and Sisters! Bitcoin Continue Downtrend for Retracement. Yesterday Candle Closed under First Reversal Point(Arrow#5). My Theory remain On same Point. P Wave(Arrow#3&6) is Still Valid. And I Wait Breakout of These Level to Know the Direction of Trend. Yesterday Candle Is Closed Under The Level of Three days Movement. And If Confirm. Then We Will Touch The The Bottam Of Black Area. Second Reversal Point is Changed A Bit For This Week. Nee Level Is 54275. Alts Move On All Jumps Of Bitcoin.. But Real Signal I Will Start When Bitcoin Touch Second Reversal Point. Wish You All Very Nice Day.
by MoonTradingForecast
Bitcoin Urgent market Update about RejectionBTC/USDT Urgent Analysis ➡️ Current Situation: BTC has faced rejection at a higher high (HH) and is testing the resistance trendline (TL). ➡️ Bearish Scenario: There’s a possibility that BTC may retest the $57,000 range. ➡️ Key Levels to Watch: - $64,500: Crucial level! Breaking above this indicates a bullish move towards $100K. - $65,540: Place your stop loss here if you have open short positions (avoid high leverage). - $67,300: The last HH level. If BTC breaks this, the HH/HL pattern is invalidated, signaling a bullish rally towards $100K. Stay alert and manage your positions carefully!
Short
by CryptoPatel
3
Why "V" Shape Happened Last week in #Bitcoin ?Why "V" Shape Happened Last week in #Bitcoin ? High Risk-to-Reward Reversal Trades - Whales in Action: Big traders can manipulate the market to fill long positions. By driving prices down, they trigger stops/liquidations, then enter positions at favorable liquidity levels. Once the liquidity is absorbed, prices reverse upwards. - Liquidation Levels: Massive pressure on one side of the order book can lead to price reversals after liquidation levels are hit. - All Liquidation Levels Hit: If all liquidation levels in one direction are exhausted, there's minimal liquidity left, causing a natural price reversal. Opportunities for Traders: 1⃣ These reversals can mark local tops/bottoms, offering high risk-to-reward trades. 2⃣ Use tight stop losses and further take profits for maximum reward. 3⃣ Increase your chances by finding confluence with other indicators or support/resistance levels. CRYPTOCAP:BTC #BitcoinETF
by CryptoPatel