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Bitcoinshort

Bitcoin Downtrend Is Not Over Yet - $42000 In Sight.A quick look at Bitcoin's 4 hourly price chart reveals a complete five-wave impulse followed by a three-wave correction. Taken together, the two patterns form a textbook Elliott Wave cycle, labeled i-ii-iii-iv-v-a-b-c. According to Elliott Wave theory, once the corrective phase ends, the larger trend resumes in the direction of the impulsive sequence. BTCUSD Is Setting Up for Another 20-35% Drop “Three-wave” is the keyword here, because it seems that Bitcoin's correction did not end in April, but is still in progress. The initial sharp selloff, which erased 27% of Bitcoin’s market value, is labeled as wave (a). The current rally to $57430 so far must then be wave (b). It follows that another notable decline can be expected in wave (c) before the bulls can really return. Since wave (c) is supposed to breach the bottom of wave (a), targets below $46900 a coin make sense . If this analysis is correct, Bitcoin investors should brace for another 20-30% drop. In fact, the price seems to be approaching a key supply level and we could see a reversal soon. Rally above $64952 will invalidate this analysis. Below is my long-term analysis of BTC that I published on the 23rd of February. "Bitcoin Carries Very High Risks Above $60,000" What's your view on Bitcoin? Let me know in the comment. Thanks for reading, Veejahbee.
Short
by Veejahbee
2
Stilll Watching 👀 BTC Fall 📉Crazy dumps turned to pumps at the hands of who??? Most are shock by the K-study ran by Tesla or whoever lol Idk Idc truth be told down is my view and has been the case even to a fault for awhile as anyone following would know. lol Simple risk management can allow both sides up or down to remain irrational longer than someone can remain solvent on the wrong side until proven right. LOL it's never really an attack on Bitcoin I actually love it but understand that I don't need to only ever be long and hold to be bullish but if I build up a position in something I built that position with an intent to realize gains and profit. Only I don't publicly declare "ok, I am buying now" and then 3 month later say "Sorry guys it was just test for when I really wanna dump on you.." lol 😭🤣😐 #TheyBuyLambos 😂 #lambo? All this time I have been saying #LandThough 🏞🏠🏘 LOL What are your thoughts? Is it bad that people like to realize gains say "Cool! More Dollars now!" Or am I really the only person that's down to pull profit and even short a lot??? LOL No advice to give just thoughts that I can't shake after the last 6 years in the world of "CRYPTO" Bra "KEEP CALM AND MANAGE THY RISK!" 🤓
COINBASE:BTCUSDShort
by BradySWilliams
15
BITCOIN - The Bears Have Taken ControlI decided to use the BTCUSD daily chart because I think it starkly depicted the reversal in momentum between the bulls and the bears. For the past year, BTC has been on a torrent bull run from $3,750 to $65,000. You can see that we consistently made higher highs and lows in price action and the MACD remained above the zero line for the entire run. However, everything changed after hitting $65,000. Bitcoin broke the ascending channel it had been moving in since October 2020 and made a lower low for the first time in a long time. The MACD strongly broke support and the zero line thrusting all that bullish momentum back into bearish territory. As a result, I am shifting gears on BTCUSD from bullish to bearish. That is not to say that BTC can't revisit $60,000 again. I am just adjusting my sights from higher highs and lows to lower highs and lows. I think the long overdue correction is upon us and I will be preparing for it as such. I am targeting $35,000 - $40,000 where there is strong support. It also coincides with where the price action could catch support with the bullish uptrend in pink. All in all, I think this is the correction Bitcoin needs in preparation for its next move up. In the meantime, all those alts that have been suppressed by Bitcoin's massive run can finally have the weight taken off their shoulders and make runs of their own. I think Ethereum will be leading the way and other alts will follow. So while this correction might be bad for Bitcoin in the short-term, I think it's good news for the rest of the market.
BITSTAMP:BTCUSDShort
by jpbrown1023
9
BTC got stuck in TRADING RANGE ZONEGreeting from IRAN to whole trading community 💙✔ BITCOIN started an uptrend since early 2021 , and managed to achieve new ATH in 14th April But after that we witness a massive SELL-OFF in BITCOIN which affected whole market Uptrend has broken and price dropped under 50K Bitcoin dominant dropped under 50% as well that was the lowest spot since 2018 After that BULLS came back to the market and rose the price above its major resistance/support level 52K At the moment price got stuck in a trading range zone (Yellow rectangle) Breakout in each side (TOP or BOTTOM) could make us a great opportunity to long or short Price lower than 52K ==> Short Price upper than 58K ==> Long Let see whats happen next , What's your opinion about BTC next movement BEARISH or BULLISH? KEEP IT SIMPLE :)
by nima-mohammadkhani
4
Bitcoin: Overextended after a bullish rally....Like I had mentioned in my last BTC Analysis, I will look for bearish formations and patterns when price reaches this circle. There is significant resistance here, and the market is extended. If I can get confirmations for a valid entry, I will ride price back down to the double bottom. I would love to hear from you in the comments section. Some feedback would be nice! LIKE and subscribe if you want more free education and analysis. Thank you!
by RT_Money
12
BTC DROP LEVELS/ GRADUAL BTC/USD DERIORATION.I ll be brief. Rebounds as per chars are 42.000$ after retest of previous high which needs to start pumping B on the weekly candle expiry. Then as per levels we again and mechanism of the BTC price indicates that this is the end of the bullrun (at least temporary), but B already dropped after tripple top attempt in and overall behavior of the fractal is temporary bullish from 00:00 UTC on weekly. Fractal was formed from 10.000---->>>64750$. We haven't saw 42.000$ retest attempt, we just had a second rebound from 47770$ (47500$ on binance). We haven't saw 30k restest (which many condsider a " base" but, nor 20.000$ isn't retested as well and it will be retested later on (when BTC fails to breach 30.000$ from bottom 25.000$ drop). From now onwards as per fractal movement and overall BIG TIME overbought BTC ( MACD WEEKLY IS SCARY). Drop will be gradial in a form LH from current price (i'd suggest not higher than 55.500$ as safe. (i marked 57211$ as top). Next rebounds B levels will be 57221$ which will be followed by drop towards 42.000$. Then we will se a rebound towrards 52500 and further deep drop towards 30.000$. Then long towards 42000 and further collision through 30.000 and restest of 25k or instant 20.0000$ drop. BTC dominance will decrease over time up to 32-33% (rest will be altcoins). ONCE AGAIN NEXT LONGS ARE : -(47700 ongoing)--->57211 at best -42.000$ -30.000$ -20.000$ (25.000 with s.l./2%) -12.000$ __________________________________ Don't use big leverages (not larger of 4-4,5X at most (since next drop will be nominal 20% plus (57200===>42.000$) B. therefore it would wipe your positions mercifully if you don't follow level mentioned above. Good luck everyone
Short
by milanjelic
38
Bitcoin dropped. Now what? Hello Everyone, Bitcoin dropped. I have been calling for a drop to around $45,000 for a few weeks now. My analysis on every chart has always stated that we needed to pay attention to the waning buying momentum and bearish price action on the monthly, weekly, and daily charts. Now what? Well, I think the first thing we need to do is relax. These moves are healthy and helps the bull market long term. Before you possibly fomo into a trade or you’re looking to enter at a lower price, lets go over some technical analysis. 1. Bitcoin’s 4-hour timeframe is showing a dead cat bounce upwards from the previous drop. This is when bearish price action takes place as price is moving back upwards to retest an area of resistance with volume going down. If you are currently in and looking to exit, I would sell in the Dead Cat Bounce Zone. 2. The day timeframe is showing that we have broken to the downside on the 3 month long Ascending wedge. This could indicate a further move down as the trend has changed. 3. Bitcoin’s weekly chart is showing buying momentum waning and short-term charts are giving this more validity with bearish price action and breaking to the downside of our ascending wedge. 4. Daily MACD is showing increasing selling momentum as Weekly MACD is showing decrease buying momentum. This tells me that there is a high possibility of 1-2 weeks of downward movement. Maybe longer. 5. Daily price action was reflecting bearish and now volume has come in and bitcoin has dipped. This gives more validity to a short term downside. 6. Bitcoin has closed below the 50MA on the daily chart for the first time since October. This suggests that it may continue down to test the 100MA or possibly the 200MA support lines. With all of the bearish things talked about, bitcoin is still in a bull market. Bitcoin has not tested a single weekly moving average when back in 2017 bitcoin danced along the 20 and 50 weekly moving average several times by April. I believe we are overdue for a “bounce” off a weekly moving average, the first being the 20MA which is around $45,000. Bitcoin has also seen 6 green monthly candles in a row. Bitcoin could use a red month or so. In my opinion, I would not consider a buy until we retest $53,000. This would establish a possible double bottom pattern which is bullish and might be a good stronghold for heavier buyers moving forward. My overall price target for buying is $45,000. As always, be patient, have risk management, and good luck trading!
COINBASE:BTCUSDShort
by RomanXIV
4
BTC DOMINANCE GOING EVEN LOWER!?Bitcoins dominance has been on a continuous fall and we are now approaching the 50% dominance level! I think we could see a bit of a hold or bounce here in the short term but i think the continued fall is inevitable, we could see a fall to the 40% and then finally the 35% level. The 35% level was the absolute peak of the 2018 altseason and IMO i think this years going to be a even bigger and better altseason that we are just getting started. It is very impressive to see for the most part bitcoins price has been going opposite to the dominance! We are getting very heavy pushdown from both the EMA ribbons and the ichimoku cloud, the ribbons look like they are starting to open up even more creating more bearish pressure. We are seeing a very bearish cross on the Zero Lag MACD, Our orange has just crossed the blue and the Red MA is starting to come down fast. The histogram has printed a bearish bar and IMO i think we could see this continue for the next several days! My personal opinion for timeline for altseason and aprx from today is 2-3 months. NFA!
CRYPTOCAP:BTC.DShort
by JacobR905
4