BTC Pullback Long Setup The most important aspect of identifying Impulsive or Corrective monowaves is that it allows you to deduce the trend of a particular market.
When trading becomes personal, everything changes.
Conclusion: Look to establish LONGS on BTC with STOPS well below the 78.6% retracement. Refer to graph for price level for 78.6% retracement.
Due to Wave Theory's mathematical quantification of Mass Psychology, it allows you to experience the economic "boom & bust" phenomenon, as what we are seeing here in BTC with greater interest and understanding.
KEY TAKEAWAY: All market action needs to be accounted for an classified to produce bankable interpretations. Counts should be built from the ground up on a "molecular" basis.
Btcfutures
BTC/USD TA Update (Short-term rally is ended?)BTC/USD
Bitcoin failed the short-term rally and has now broken the upward trend-line support.
Technically, this is a bearish scenario for Bitcoin as the price closes below 50MA on the 4H period.
8700 support is not strong enough to hold if we will look at the higher time-frame.
If the bearish momentum will continue further, there is a chance we will be revisiting the 8200-8000 regions
in the coming days before we could experience a strong recovery to the upside.
Local priority for the coming days is bearish.
BTC/USD TA Update (Confirmed Bullish Pattern?)BTC/USD
Bitcoin confirmed the Cup & Handle pattern as the price broke to the upside after piercing the immediate resistance at 9k.
Now, BTC needs to hold the 9k regions and continue higher to validate a strong presence from the bulls.
Target to the upside is between the reverse Fib 0.5 - 0.618 levels.
BTC/USD TA Update (Bullish Pattern?)BTC/USD
How is Bitcoin is doing on the longer time-frame? Well, Technically, Bulls are still in the fighting stance as it is currently holding/testing the 0.5 Fib support levels at 8.5k.
Is it still possible to retest the swing high at 10.5k? or even the 12k area? The answer is Yes, If and only this potential right shoulder will playout.
What are the chances BTC to break bullish with this inverse H&S pattern? It will be a 60% chance provided this support areas will hold for the next 1-2 weeks and
does not close below 8k or 0.618 Fib because the strength of the pattern to succeed will decrease as the price is no longer in the bullish territory zone for continuation to the upside.
BTC Forecast !!!
In this order:
Bounce off $9130
Reject from $9700
Fill CME gap $8540
Flip R/S $10,670
Test R/S flip $11,030
BTC/USD TA UpdateBTC/USD
Where do we see Bitcoin from this point?
BTC is still flowing inside this bullish descending channel from the High at 10.5k and now the price is touching key support areas at 9.1k.
This pattern remains valid as long as the support between 8.8k regions holds in the short-term.
Let's keep in the radar the RSI on 12H time-frame when the price hits oversold territory, a reaction bounce up occurs.
If BTC touches the bottom trend-line support and the RSI hits oversold,
there is a high chance we could see another relief bounce to the upside to retest the downward resistance at 9.5k areas.
Let's not forget about the 0.382 Fib which coincides with price action and key areas,
this will add to your bullish standpoint when BTC gets there. In the meantime, the priority is bearish down to 8.8k regions.
BTC/USD TA Update (Bearish Short-term?)BTC/USD
BTC got rejected 2x at trend-line resistance between 9.9k-10k rejoin. The price dropped by almost 5% last few hours today but immediately bounces at key areas of support.
Things are quite looking bearish on the 4H time-frame as BTC made another Lower High. If Bitcoin will recover again at previous support but still unable to break this trend-line resistance.
I won't be surprised the next try it will retest the key support area again is likely to fail the 4th time. Priority is now is leaning to the Bears in the short-term.
BTC/USD TA Update (Bounce to 9.9k?)BTC/USD
Bitcoin is respecting the 200MA on the 4H time-frame as the price bounces off 2x.
The area where the 200MA coincides with previous resistance and it is now looking to be new support in the short-term.
If BTC can hold these current levels for the next 24-48hrs.
We may see a temporary bounce up to 9.9k regions where the downward trend-line resistance is located which will stop Bitcoin from going higher.
From that point, we will have to observe how the market will react and decide on our next move.
Bulls are still holding the situation but the worst-case scenario if BTC falls below the 200MA and unable to get above it again.
We will see a deeper correction in the longer term.
$BTC les futures CME drivent le marché ? 20/02Bonjour à tous, situation très intéressante sur le bitcoin et bitcoin sur les CME futures.
hier nous avions un gap autour des 10.400$, celui-ci à été bien comblé sur cette mèche et quelques heures après un énorme dump est survenue sur le marché en créant un nouveau plus bas dans la dynamique de marché.
Nous pouvons remarqué un canal d'expansion se former presque parfaitement sur les CME,
Un breakout par le haut de ce canal nous indiquerait une continuation de structure Bullish avec un énorme Bear trap sur ce dump.
Autrement en cas de continuation baissière, le top local aura donc bien été trouvé ici sur les 10.500$ et un mouvement correctif devrait se mettre en place sur le bitcoin et les ALTS qui ont énormément performé depuis ces quelques semaines.
Ce qui va se passer jusque la clôture weekly va être important car nous nous trouvons aussi sur un niveau de support très pertinent qui conserve encore de très peu pour le moment la structure Bullish intact ...
Restez safe sur le marché nous sommes sur une zone critique
BTC/USD TA Update (Early Sign of Weakness?)BTC/USD
BTC suddenly dumps over 9% after filling up the gap on CME futures. But manages to bounce a little at 200MA and downward slopping trend-line support.
There is now a new strong resistance at 10.3k and it is BTC 1st Lower High after breaking to new Lower Low.
There still hope for Bitcoin in a shorter timeframe but will have to take a lot of work to be done. BTC needs to defend 9.6k-9.3k support and from there,
we may see a relief bounce to challenge the previous High at 10.3k. The priority now becomes slight bullish to neutral in the short-term.
BTC/USD TA Update (1 more push to the upside?)Short-term action for BTC remains bullish as long as 9600s support holds.
BTC/USD TA Update (New Bull Market?)BTC/USD
Today, Bitcoin just had a golden cross of 50DMA & 200DMA. If everything will playout, this bullish fallen wedge should break to the upside
filling up the CME price gap between 10080-10460. And that will start the new bull market uptrend in the coming few weeks.
BTC/USD TA Update (Temporary Top?)BTC/USD
Bitcoin is looking to set a temporary top at 10.4k areas as the previous daily candle is breaking bearish.
Technically, overall market sentiment remains bullish as we are still anticipating the golden cross of 50MA & 200MA between 8800s regions
which will be its strong floor area of support if BTC will have to come down to test these levels.
There is also a strong upward trend-line support from 6.4k - 6.9k which coincides with the 50D MA trajectory movement.
This area of confluence is the part where most traders are looking at to re-enter a Long position for potential another strong wave up to 12k or higher before the BTC halving starts.
XBTUSD 1D CHART SHOWING STRONG LONG SIGNALSHello, this is my first published idea on trading view, and I am very open to feedback in order to improve my processes and posts.
Looking at the 1D chart for XBTUSD the downtrend has been confirmed as over and I believe the last week has made the bull flag signal appear much clearer and really help define the break out. I think entering long today would be acceptable, but there are signs that the price could fall slightly more if you'd like to average in and break it up, but I do not see any big falls down to 9800 or below so I would not get overly greedy. I personally have my stop points at the example one given on the graph. I have a 15m chart for swing/scalping analysis using xbtusd for for the next 24-72 hours depending on how quickly the market heats up. Please let me know if interested in that as well, as I saved the snapshot of the idea.
TLDR Bull Flag looking clearer and clearer, begin averaging in more aggressively and protect yourself from the quick pullbacks the market will naturally have.
BTC/USD TA Update (Temporary Top?)BTC/USD
Bitcoin got rejected at 10.5k resistance but still following this upward channel.
The price could drop to 10k - 9.8k next key support area which also coincides along with ascending trend-line support and the 50MA.
If Bitcoin can maintain the next support, we may see another attempt to challenge the High at 10.5k.
The best thing we can do for now is to let Bitcoin cool-down a bit and see if it will form a base of support for a Long opportunity.
BTC Dominance TA Update (Altseason??) Longer Altseason as BTC Dominance is on the inverse parabolic move.
BTC/USD TA Update (Short-term pullback?)BTC/USD
Bitcoin broke bearish of this bear flag on 2hr time-frame period.
Currently, the price is testing previous support and upward trend-line coming from 8200-9100 two touchpoints.
If we see BTC drops to 9600s and the RSI hits oversold on hourly time-frame we might experience a potential relief bounce to upper 9800s.
At 9600 areas are our key support levels to keep this uptrend going,
if we lose 9600s Bitcoin could drop further down to the 9300s and consolidate in those regions.
BTC/USD Quick TA Update (Gap Filled?)BTC/USD Quick TA Update
Bitcoin loves to fill the gap on CME Futures, especially on lower time-frames like in the Hourly periods.
BTC touches the key trend-line upward support and the 50MA dynamic support as well.
Bull's reaction was to quickly buy the dip pushing the price to go up over 5% quickly.
We all know that BTC price action from mid-6k has been very exhausting uptrend and the price is trading inside a strong resistance area.
Don't be surprised to experience high volatile move and fake-outs inside this trading range.
As long as this trend-line support holds, the priority remains bullish.
BTC/USD TA Update (Weekly Bullish Candle - 14k Target?)BTC/USD
Bitcoin closes the week above 10k regions with a bullish engulfing candle indicating strong present from the bulls during its rally from 6400s and now up over 55%.
With the bullish cross of 12EMA & 26EMA telling us the weekly bias momentum has shifted to the upside after a strong breakout the trend-line resistance at mid 8500s.
Bulls have a lot of space to work with if incase the 10k support fail, it has tons of support area to continue its uptrend if it loses the daily higher low.
Traders who are looking for weekly higher low are definitely scouting once the short-term uptrend is losing, depending on where the area could the weekly higher low to form.
Better watch out as I'll be looking for mid-term trade for Bitcoin when the opportunity presents itself.
BTC/USD TA Update (10k Bull Market?)Bitcoin just entered the 10k regions and hitting key resistance area from previous swing High also the top ascending trend-line resistance of this rising wedge.
The RSI is floating on overbought condition levels but this is what makes the price volatile when entering overbought or oversold levels.
If Bitcoin will be accepted above 10k levels for the next few days, it may likely turn into new support territory before it fires another leg up as we know the BTC Halving is just right in the corner.
BTC/USD TA Update (Due For Pullback Now?)BTC/USD
Bitcoin loses the 1hr time-frame uptrend after breaking this key upward trend-line support and closes below 50MA.
Our target to the downside is between 0.5 - 0.618 Fib levels which coincide with previous resistance and has the potential to turn into the new support zone.
Market Cap Others Dominance TA Update (Short-term Altseason?)Market Cap Others Dominance manages to break this key trend-line resistance after battling for many months and now, we are seeing Altcoins putting up gains over 100% in a short period.
We can expect the Altcoin Dominance to rise to 10 levels before we can see another major downward action for months of consolidation again.
BTC Dominance TA Update (Minor Alt Season Started?)Bitcoin Dominance breaks key ascending trend-line support a few weeks ago that's why we are experiencing huge gains on Altcoins.
Altseason may persist for a couple of weeks until the key support area is reached but still be cautious, BTC Dominance will have some pullbacks
to the upside and some Altcoins may see downward actions for a couple of days before another leg up to continue again.
