This is the situation right now on the daily timeframe; Bitcoin produced a lower low 1-May, this normally leads to a bounce. A bounce after a new lower low can push prices easily toward 70K, as a lower high but this isn't happening, this didn't happen. The bounce pushed prices to 65.5K and that's it, weak and a lower high confirmed; so far. Closing today below...
Just like the downward trend line I drew on the chart, the recent price shock and decline of Bitcoin was completed along the downward trend line, but today the price broke through the downward trend line, then the price is likely to continue to rise in the short term. The price is currently in a rising callback stage. As long as the price does not fall below the...
Looks positive for short trade ! if fail than strong reversal trade one can take.
The 59500 area has been tested multiple times. I believe we may go back higher from here, but what a coincidence - Its FED Day today !! however, until we get back above the angle 3, I would not play longs here. Please note TrapZone is Red with Red Bars below it, so keep an eye on the UMVD. Can you see a LAREGE CHANNEL ???
I stopped myself out of my longs. Price was rejected at the 65k level and it now hovers below the 63.8k order block level. This level is a key resistance. If price cannot find its way back above the 63.8k level soon it will be confirmed as a rejection. Price target will be 43k. God bless you!
If you're considering trading BTCUSD, now might be the time to open a short position. The current price is 63587. Setting a stop-loss at 64350.00 could help manage risk. For potential profit-taking, consider three target prices: 63180.00, 62750.00, and 62040.00. Each target represents a level where you might consider closing your position to lock in gains. Keep in...
Based on my analytic, i think BTC will create the next top peak around 150.000 for this cycle.
If you have any questions or comments feel free to comment down below!
A few points mentioned in the video: 1. Completion of Wave 1 "Leading Diagonal" structure. 2. Fractals observations on Fibonacci levels. 3. Expects wave B down and Wave C up for an A-B-C corrective wave 2. Not mentioned: Consider Wave 2 to end prematurely if low is breached.
Hello all dear traders! Overall, Bitcoin's recent price drop on May 1, 2024 changed general sentiment, but it appears to have been a bear trap, leading to mass liquidations and a subsequent decline in the overall market. can. Currently, Bitcoin is trading close to $63,000, and in the past 24 hours, it has experienced greater than 6% growth. Over the past 7 days,...
(Based on the 16H Chart) 🤔 There appears to be a bit more upside momentum remaining for BTC before Price Action returns to shorting around 66748
Hey there traders! Some thoughts about BTC. We can see the movement in bullish flag, but with descending volumes! So I think that we will finish the last Elliot wave and will continue grow and maybe break resistance in May-June with hitting ATH. Now we can try to trade the last Elliot wave with TP at support box. SL can be a bit upper the flag line. What's...
Bitcoin is exhibiting a divergence between the RSI and its price and it means another fall. From my point of view, it appears likely that Bitcoin will first target liquidity above the resistance zone before potentially experiencing a decline.
& correct around $25,000? What does you think? Comment below!
Bitcoin rebounds strongly to 65k area, which can be signal that correction may be over from technical perspective and by Elliott wave theory. We have been talking a lot about a corrective decline in the Crypto market in the past weeks. We also talked about Bitcoin ahead of the halving and we also shared a free chart back on April 15th, where we mentioned and...
Simple: Each cycle must have the RED MA cross over the GREEN MA and just then will the trend begin to fall. Cycles 1 and 2 have been tagged by PI CYCLES. I used trend lines to help with guidance to ALL-TIME HIGHS. MA's agree with PI CYCLES. Cycles 1 and 2 both have the RED MA crossing over the green. As RED MA crosses over the GREEN MA, the candlesticks begin...
Initial rejection at the 50-61.8 Fib retracement, 50 DMA and Anchored VWAP, with an imbalance to resolve, below. If imbalance resolves and bases, watching for right shoulder of an inverse H&S.
Given the current level and patterns forming and formed, I believe btc to be moving lower.