Intro: Chart speaks for itself. We could be on a small correction, we could break above the trendline only to get more longs to trap when we break below again. Add more to your short at $68052.14 AFTER THE RETEST! Link to the indicators below
With Bitcoin's fourth mining reward halving just days away, all eyes are on the leading cryptocurrency. However, a recent price slump in Bitcoin Cash (BCH), a derivative of Bitcoin, is sending a potential warning sign to Bitcoin traders. Understanding the Halving Bitcoin's mining reward halving is a pre-programmed event that occurs roughly every four years. It...
BTCUSD: It is currently located near the resistance level, and the strong resistance is near 72400. According to the 30M chart, the transaction should be short first, pay attention to the support and strong support before conducting long transactions. In the 2H chart, the MACD indicator is biased towards the long side. You can choose to go long near the...
#BTCUSDT Update: Our initial scenario is unfolding perfectly so far. BTC is likely to go higher when the BTC Dominance hits 58%+ followed by a correction which is likely to lead to an altseason. Do you believe BTC will surge past $80,000, or will it continue to move sideways until the halving? Do hit the like button if you like it and share your views in the...
Trading within the price channel defined by the Bollinger Bands involves using the upper band as resistance and the lower band as support. Traders often utilize these bands as dynamic levels to guide their decision-making process. When the price approaches the upper band, it indicates potential overbought conditions, suggesting a possible reversal or a temporary...
Currently, there are few indicators that can provide a quick view of support and resistance levels, momentum, and trend in a single calculation while displaying data correlated with each other. The Ichimoku Cloud serves as a comprehensive chart evaluation tool because all lines and data displayed are interrelated. The Ichimoku Cloud allows you to formulate...
As BTC undergoes a downward trend, it appears that wave 5 has concluded, initiating the correction wave A. Upon the completion of wave C, I anticipate BTC to stabilize around $56,303. Traders should remain vigilant as the correction unfolds, adjusting their strategies accordingly.
A large supercycle wave is composed of smaller supercycle waves. Each supercycle wave consists of multiple cycle waves. A cycle wave is made up of primary waves. Primary waves are formed by intermediate waves. Intermediate waves are composed of minor waves. Minor waves are made up of minute waves. Minute waves are composed of minuette waves. Minuette waves are...
ADX, like Stochastic or RSI, is another oscillating indicator. It fluctuates between 0 and 100, with readings below 20 indicating a weak trend and readings above 50 signaling a strong trend. ADX doesn't determine whether the current trend is bullish or bearish. It merely measures the strength of that trend. Therefore, ADX is often used to identify ranging markets...
A correction is possible if the bottom of the triangle is breached. If there's a breakout to the upside, well, we continue buying. This analysis reflects only my personal perspective and is not financial advice. The BTC is showing strength as it continues its ascent towards higher levels. However, there's a possibility of a correction if the bottom of the...
BTC has successfully broken out of the bullish flag pattern, as indicated on the chart. Following the breakout, a period of consolidation is expected, which is crucial for sustaining the trend. The ultimate target remains at 74804, with two potential scenarios outlined on the chart
Many educational resources suggest that in most cases, the bulls will win the battle and the price will break through the resistance level. However, based on our experience, this is not always the case. Sometimes the resistance zone is too strong and the buyers lack the strength to overcome it. Prices usually increase after breaking out of the pattern in the...
Following a slight retracement, BTCUSD is currently consolidating within a narrow range. A significant factor affecting Bitcoin sentiment is the potential approval of a Bitcoin ETF by Morgan Stanley in the coming weeks, as indicated by documents filed with the SEC. This prospective institutional embrace of Bitcoin could trigger a fresh influx of capital into the...
Today, BTCUSD is holding steady around the $67,645-68,000 range, with no notable fluctuations observed. In this context, I continue to advocate for a bearish stance on BTCUSDT, especially as it moves away from its sideways trend. The signal from the EMA 9 further strengthens the optimism that the market may lean towards the selling side.
The Bullish Pennant Signals Continuation of Uptrend - indicating that the upward trend may resume. This means that the upward momentum will soon return after a consolidation phase, where the buyers have accumulated enough energy to push prices higher. I believe the price will continue to rise.
Examining Bitcoin (BTC), this analysis identifies a potential short-term long trade. We'll be deconstructing the current price trend, meticulously evaluating recent price action, gauging market forces, and targeting a potential entry point aligned with favorable technical indicators (further details provided in the video). However, I cannot emphasize enough the...
Many educational resources suggest that in most cases, the buying side will win the battle and prices will break through resistance. However, based on our experience, this isn't always the case. Sometimes, the resistance zone is too strong and the buying side lacks the strength to break through. Prices often move upwards after breaking the pattern in the majority...
The ever-volatile world of Bitcoin is once again presenting a perplexing puzzle. While the price seems to be taking a breather, technical indicators are flashing conflicting signals, leaving investors scratching their heads. The Relative Strength Index (RSI), a mainstay in technical analysis, sits at the heart of this debate. RSI: A Gauge of Momentum The RSI...