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Bitcoinforecast

Bitcoin is facing Heavy ResistanceBitcoin is facing heavy resistance which is coming from two sources: One is the horizontal resistance of 24 to 25k, and the other is the 200 weekly moving average. This means that there is confluence on the resistance side. Not only are we facing resistance, but this uptrend is already lasting for 53 days, making it likely its time for a correction. Why is this 200 moving average also included? Normally I woudn't pay much attention to moving averages in general, but this one can be special. In the bull run of 2015 to end 2017, this line was the support line for the whole bull market. This line was also support at the bottom of december 2018 and during the covid crash, making it strong resistance.
COINBASE:BTCUSDShort
by FetchTeam
$BTC to $24k is guaranteedJan 19, 2023 3:40PM UTC $BTC/USD trading at $20.9k While most would feel that the current pump is overextended, if we zoom out on the higher timeframes like the Weekly, Monthly, 3M, and 6M, we're essentially just starting. Coming from my previous prediction of $BTC hitting $20k, I'm betting we get to $24k first before any major correction. RSIs have already cooled down too, ready for the next leg up. Pullbacks may be possible, but only to $19k to $18.6k at the lowest. With us reclaiming a very important $17.6k level last week, and ending the downtrend structure, this push upward makes sense. Historically, bouncing from $17.6k has given a bullish upward move of at least 40%. We are currently halfway there, with around $25k as target. I do believe $25k will also be met, but only $24k is what I can guarantee and predict for now. Plenty of nice confluences show up like EMA 50 and 200 crossing exactly at the area of May '22s lowest wick, which also marks the swing high bounce from June '22 lows. The bounce from June '22 lows into Aug '22 highs was a huge bull trap, sparking a very clean pattern of downtrend until the most recent pico bottom of $15.47k in November '22. Why this pump currently doesn't seem to be a bull trap (at least for now), is the sheer size of the body of its candlestick. While June '22 lows bouncing up to Aug '22 had a slow climb, and evidently we saw the same pattern of downtrend for the weeks that followed, our current situation shows a more aggressive recovery, which to me signals more of a reversal than just a corrective move. Exciting times. Looking forward to see this come into fruition. Cheers!
INDEX:BTCUSDLong
by egsison
3
BITCOIN - The Desperate Push to 26kBitcoin has broken the trend line on every time frame up to the Weekly. Need to stay north 22k through Monday to close the weekly above trend and buy time. Next task on the list is to avoid the weekly death cross. Hence the desperate push to 26k. There is a load of support at this level with both the 50 and 200 ma present. We've tested support on the trend line and will have a new high if we hold above 23.5k IF that happens, next resistance is 26k where we will attempt to break the Weekly ma's and result in a very bullish Golden Cross on the Daily. IF all of that happens then we will have officially reversed in my eyes. One main reason I am bullish and have continued to buy up crypto since 16k is that we officially have a Green Monthly Heikin-ashi. If this closes green which I expect it to do, I will be very bullish. This is a very bullish sign and the first green monthly HA since November of 2021. If you are following my $SPY trade, this is also a great hedge.
COINBASE:BTCUSDLong
by bishopknight
Bitcoin ($BTC): Analysis & Price Action in medium-termHi Traders! If we look at Bitcoin in long-term, the weekly chart is still very interesting. Technically, we are approaching an important medium-term resistance area, and if the trend is still bearish, it is possible that a bearish impulse structure will appear and the area around 14,560 should be reached. What both scenarios have in common is an expected short-term bearish leg (white rectangle), and this will be a simple pullback or bearish reversal. The key resistance area on the weekly chart is around 26.750 (Pivot Area). In recent weeks we have also followed BTC on the daily chart (see chart below), here the trend has returned slightly bullish, but as we have already said, on a big figure the trend is still bearish. (Click and Play Chart below) On intraday chart, the trend is bullish, but we will have to wait for a Top breakout to confirm a further rally in short term. At the moment, as we expected, Bitcoin is developing a bearish (corrective?) structure that could continue in the next few hours. (Click and Play Chart below) Thank you for support and your "Likes" ....we will continue to follow the crypto with updates below! thanks for your attention and please... trade with care! 💖
by TheAnonymousBanker
6
Updated longterm BTC chart: The road to 1 million.I am a BTC bull, but I see far too many overly optimistic price projections on tradingview. They seem to draw an exponential channel, instead of the current one, that is curved. While of course it can be that BTC goes out of the current channel, and bursts through the upper resistance, thus reverting back to its original exponential trend, I like to be more conservative. Because as of now, there is still no reason to believe that BTC will do so, only because it has pumped now already 6 months earlier than 4 years ago. This could just mean that we also reach the peak 6 months earlier. The fundamental price drivers will remain the halvings and mainstream adoption. We can also clearly see that the factors between the subsequent peaks is diminishing every time. From x38 to x16 and now probably to around x6 and so on. It cannot just continue to do the same increases again and again, then we would have prices of 100 million USD by 2025 or some insane stuff like that. That is not very scientific but sensationalist, and we should remain realistic here, even if that means being more conservative. Conservative with 1.3 million in 2030 LOL. Try telling that someone in the stockmarket hehehe! Anyways, there is indeed the chance that BTC leaves this channel and creates a faster rising one, but the future datapoints are not here yet, so we must use the past points for extrapolation. But no matter what happens, I am convinced that BTC mainstream adoption WILL happen. It's not an "if" question, but a "when" question.
BNC:BLXLong
by SebastianofMoon
52
BIG RED FLAG -WARNING TO ALLWarning to all and prepare for impact because my alert has just been triggered and its not a good thing. There is one indicator that hasn't failed me yet its this on-metric on glassnode. BTCBitcoin: Spent Volume Lifespan 7y-10y This shows me when massive volume of the genesis wallets when there moving about and as you can see in the chart it pin points tops pretty dam well. In April I posted this TA : In the comments section you can see me updating the TA with warnings and talking about this alert. I tried to warn traders back then and it ended up being the top this year April 2022 , best short of my career based on this alert and some other things. So now my alerts are going off once again last time it went off with such high volume was April 2022 the pico top of this year at 48k. The output volume that's happening now is as high as 2017 top which is insane , I have closed all my positions since I do not dare have a long opened when this alert flashes. Better image if you want to take a look . ibb.co Stay safe people .
INDEX:BTCUSD
by Sporia
27
I am sorry if you don't want to understand BitcoinOn the monthly chart, bitcoin is now moving around the price level of the 0.382 Fibonacci retracement drawn from the 2018 bottom to the all-time high in 2021. Twice before, this level was exactly the bottom for bitcoin; quite soon after—usually within 3 months—it prompted bitcoin to resume its bull run. Tom DeMark Sequential shows a 9 each time at the monthly bottom. The September monthly candle close also very nicely notes another 9. My expectation is that around January 2023, we can expect another spectacle in terms of a sharp price rise. Historically, it is another unique buying opportunity; don't miss it. Keep stacking those scarce sats!
BNC:BLXLong
by joerivdpol
Bitcoin ($BTC): Daily Chart Technical AnalysisHello everyone! Perhaps in near term, the bulls will still have the upper hand and could drive many retailers into margin call exposure, thus managing to close out their long positions, but after that, I expect a major corrective structure. The expected rally that we have been following in recent weeks (see chart below), may need at least a consolidation, leaving the door open for the Sellers (short-term). In many cases like this, the corrective structure develops two strong bearish legs and one corrective leg (ABC pattern), and many of levels shown on daily chart can also be found in the latest analyses. During the last few months I have noticed that macro-economic news, especially on the inflation side, have an important influence, perhaps because since bitcoin has existed we have never seen such a particular geo-political and macro-economic context (war and inflation in primis). What will I do this week? Well, thanks to the contribution of my supporters, I will go looking for continuation patterns or reversal patterns on minor time frame, but above all I will keep an eye open on Altcoin opportunities (not only on my channel, but also here on TradingView we are following some Interesting trades about altcoins). THE RALLY ... (Click and Play Cgart below) 💥Bitcoin : Support area approach in short term WEEKLY ANALYSIS (Click and Play Chart below) INTARADAY ANALYSIS (Click and Play Chart below) Bitcoin ($BTC) Corrective structure in short term? We'll see... ...and you, do you have any different ideas? Let me know in the comments! ...trade with care! 💖 Cheers!
by TheAnonymousBanker
8
BTC/USD Daily Levels — February 1st, 2023Looking at the price of Bitcoin on the Daily TF, we can see that we just wicked out on the $24,233 level and are forming a buy side sweep. We will see what happens on the close of the daily candle, but if we close underneath here, that means the buy side sweep is formed and we should be looking at lower levels as the high for the month / local top is formed. The red line I have marked at $21,294 and also doubles as the bottom body of the LG candle, and that's where i'd be looking to offload shorts and start rebuying my long position. However, I will see how we look at that time, as we can still drop back down to the ~$19,000 level, marked on the chart as the top of the green accumulation box. This would form a higher low of the move formed at the start of the year and would properly rebalance this up swing. A lot of people on Twitter are talking about running the yearly lows, and if we did, we'd create (obviously) a lower low and send the cryptocurrency market into goblin town. Now not that i'm against it, I don't think we'll drop that far, and if we do, it'll be a clean wick through the level just to retest it. All in all, looking for the $19-21k targets to re-enter my long positions after absolutely milking this move upwards from $16k. Take it easy traders, I wish you all the best! Cheers 🥂 As always please do your own research, I am not a financial advisor and this post is for educational purposes only
KRAKEN:BTCUSDShort
by kyer
4