Bitcoin Weekly Analysis 📊 #BTCUSD (BTC)
💹 Time Frame : 1W (Log)
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🟡 ENGLISH : According to previous analysis, as we said, we needed to wait for the positive reaction to the BULLISH BREAKER BLOCK zone (in the range of $ 14850 to $ 19500) . The price reacted positively to this high-potential range of demand. Note that this upward movement will still need to consolidate and will not be a 100% sign of an uptrend (Bullish Trend) , Because macroeconomic factors show the opposite. With an optimistic view and if the price consolidates above this price range, we can expect growth to eventually reach $ 29,000 and then continue to fall ...!
⚠ This Analysis will be updated!!
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👤 Trader_Needs
📅 06.222.2022
⚠️ (DYOR)
Totalmarketcap
Total crypto market 1M timeframes - BTC - BTCUSD comparedHi!
Apparently, technical analysis does not work, but on its basis we can base many future movements, entries or exits. A self-fulfilling prophecy which is technical analysis over the past few years has estimated a pretty good time to jump in and jump out the train.
1. Today I'll will show you what we can infer from the charts - price action, rsi, stoch & some herd noise.
Shortly about indicators - As we all know, these are lagging indicators, but it's pretty good to use them to take wider picture on the market structure.
Here is some thoughts about currently market structure played at historical data with few more tools;
Currently on the monthly chart frame using Fibonacci retracement price get to the 0.786 point -> same as bitcoin chart. - This level is quite important as price action meet the 200 moving average – last several times it was great opportunity to take some expositions at this point assuming long term moves (from the begging of bitcoin history including 1m time frame candles – bitcoin didn’t fell & close below 200 moving average.).
Otherwise in this place total crypto market cap reached “last bubble highs” around 771.5Billion $ of total value.
Bitcoin with this total crypto market value (late 2017) was around 19.875 $ price per piece – same as now was (few hours earlier).
Based on historical facts on last two cycles - last relative strength index topped ( 3x red circles RSI window/ confirming divergence) - around 01 march 2022 - from this point, we will have approximately 730 days until price rise up significantly which can be around march 2024 – 1 month until next bitcoin halving.
2. From example some thoughts I always keep in mind that in crypto it is all base on multiplying your exposition:
-> Since buy at 60k, your path until 100k give you 66,667% gain,
-> Since you buy at 20k, gain will be 500%,
-> Since you but at 10k your profit will reach 1000% - it’s 10x compared to 1,667% when you buy at 60k.
It is very likely that we will see price range 14/ 16k $ for one bitcoin, without excluding deeper dive in short/mid term.
-> From 60k to 20k is 67,67% down/
-> From 60k to 10k is 83,33% down/
-> From 20k to 10k is still -50% down/
Don't catch the falling knives should be appropriate definition if you don't calculate your risk -> nice way to avoid risky entries is DCA - which mean dollar cost average - in other words entry price averaging.
3. Some thoughts about sentiment.
> Positive features:
- BTC as know was never hacked,
- It gives P2P transactions,
- diversifies portfolio - best known digital value,
- long term dolar oversupply (btc priced in dollar) – as we know all of FIAT currency is going to zero over the time – knowing it, we can assume that Bitcoin going to infinity compared to USD - (look BTC starting price ~0.10$),
- on-chain whale accumulation,
- price correction ~75% down – (estimated 75-85% for my attractive range),
- negative social media sentiment, “crypto is a scam” & others,
- fundamental – bitcoin was created by people for people, and its value its created by unforced faith.
>Negative features:
- unfavorable regulations for cryptocurrency (especialy PoW consensus) – including green energy,
- bitcoin sell pression from institutions – cutting the corners - to take over the market* and attempt to liquidate centralized collateraled holdings like Celsius – adding maximal fear,
- uncertain situation on the financial markets, bitcoin will be probably one of the assets to cover other losses,
- as allways, black swans.
4. I'm not saying that bitcoin won't hit new lows and break a long-standing trend, but I think it's unlikely. Im still think that bitcoin is very risky asset with high volatile, but its great opportunity to diversify your portfolio into digital and very liquid assets - inversely correlated to FIAT currencies. This market stays here for longer and it looks like it is repetitive itself.
Crypto Market Bottom based on total market capMarkets tend to hunt liquidity and so there are often gaps that need to be filled before the market moves on.
In summer 2021 the market went back to fill the gap shown as "A". We printed many daily candles in there, exhausting selling pressure. We found a bottom and moved on.
On the way down area A is considered "exhausted" therefore the market has no interest to debate again over the same area. Bulls won, they took us to 3T, they failed to go higher and so their reign was over.
This is why our stay in area A on the way down was short-lived.
It's summer 2022 and the market has finally reached contested area "B".
Bulls and Bears will once again fight for this area.
The winner will show us the way! (If sellers are exhausted in this area, we have our the market cycle bottom)
TOTAL MARKET CAP long-term update:must read!! Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as financial advice.
TOTAL MARKET CAP
Total market cap formed this big rising wedge pattern but it is yet breakout currently is lying on the lower support of this big wedge pattern as long as the lower support, we can expect a bounce from there. RSI is in the oversold range and we have 200ma as local support.
If it breaks the lower support or 200ma support then the chart will be invalided.
If you look closely at the first cycle and compare it to subsequent cycles, you will find that the beginning of 2021 was great for TOTAL MARKET CAP because it grew by almost 500% in 2 swings.
If you look at the second cycle, the price has risen at first, but later you realize that this is a trading range. In the trading range, there is a difference between the buyer and the seller.
After the failure of the trading range, the price enters a downward trend for a while and falls about 70%. You may think that this is too much and it is no longer possible for the price to return. In fact, this is not the case. It is necessary for the price and health of the market, although this decline did not happen easily, but it can be recovered from here.
Stay tuned
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Total Crypto Market Cap: Warning Signs!Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Total Crypto Market Cap.
The chart is self-explanatory. The total crypto market cap fell out of the Ascending Channel and Bear Flag (exactly as predicted!). The measured moves are shown in the chart. Though I want to be bullish on crypto, it seems there is still strong downside pressure with the measured moves still intact.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
First warning sign - Jan 2022:
Second warning sign - May 2022:
Third warning sign - June 2022:
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
$TOTAL Crypto total market cap - where could we find support?I've used a log chart to get a better perspective of the total crypto market cap chart. According to my analysis, the 670-730bn Market cap value should act as a solid support zone. If looking to buy back into the crypto space, a reversal from this area could provide some confirmation that some sort of bottom could be in place.
This level as shown by the red box is where we find intersection of some important technical points
(1) Uptrend from 2015 lows
(2) Level under the 200week moving average which has acted as a bottom on two separate occasions
(3) The 2018 High which could now act as support should it be tested
Will be watching this important area with much interest to see if the crypto market can bounce off what is the longer term uptrend.
Happy trading!
#TOTAL Crypto space facing significant resistance hereIf you draw the anchored vwap from the important last significant swing low and high from 2021, the bands pretty much line up at the 200day moving average which has been a significant point of polarity for the total market cap chart. With price action seemingly stuck here for the last 3 days, the crypto market is at risk at halting recent upside from this level. Alternatively, if the market can break above this level then that opens up a new shift, but my gut says given the level of resistance we face, it is going to be very difficult in the short term to break this level without a correction first. Let's see where we go..
Bitcoin $20,000? Almost there. Only Mar 2020 matches this biasTraders,
First off, congrats to all those who have shorted this market! You've done well. This is a market only for the most experienced amongst us to trade! And even then, it is extremely difficult. I am admittedly not good in a bear market which is partly why I have put everything on pause at the moment. I am mostly in cash with the exception of my long-term holdings which are at least earning me some good APY.
Today we are going to zoom out a bit and look mainly at the charts from the weekly perspective. They may be telling us more about what's to come.
-Stew
CAN YOU SEE WHAT WILL HAPPEN FOR BITCOIN BTC 24.300 wowTF : 1W for SPX500 = 2D for BTC Bitcoin
in my idea bitcoin should see 24.3 k price then it has own permission to go above and above!
zone 20-25 is the target of waves 4 of bit coin and it has waves 5 after that but you should buy it there!
what DO you think ?
TOTAL 3 weekly chart is sitting the biggest support in history.TOTAL 3 weekly chart:
The Long yellow rectangle support box may
be the most important support in the entire
Market as a whole. When there is around 19,000
Alt-coin projects relying on BTC holding and this
huge monster support box holding, this is Do or
Die...Im confident in the coming 300 days,
we will see all time highs in the TOTAL 3 market.
The Green $2.674 Trillion is my Super bullish
prediction coming from measurements. and the
smaller yellow rectangles are the falling bearish
support boxes....lets hope we dont see the candles
fall lower. The RSI has never been this OVERSOLD, we honestly should be moving up
bc we are in uncharted territories and sentiment should change.
𝗦𝗶𝗺𝗽𝗹𝗲 𝗥𝗦𝗜-𝗯𝗮𝘀𝗲𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗦𝗶𝗺𝗽𝗹𝗲 𝗥𝗦𝗜-𝗯𝗮𝘀𝗲𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗼𝗳 𝘁𝗵𝗲 𝘁𝗼𝘁𝗮𝗹 𝗺𝗮𝗿𝗸𝗲𝘁 𝗰𝗮𝗽𝗶𝘁𝗮𝗹𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗰𝗿𝘆𝗽𝘁𝗼𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝗶𝗲𝘀.
as usual, many people cry out for the failure of the crypto world, this happened in 2015, 2018, 2020 and also in 2022, let's see in detail what happened in the past.
As per the attached graph, the RSI value has reached the oversold zone and is now around 30. but what happened in the past when the total market cap reached this value?
-𝟮𝟬𝟭𝟱: RSI 28, after this value the market capitalization went from 2 billion to 700 billion in December 2017;
-𝟮𝟬𝟭𝟴: RSI 29.5, after this value the market capitalization went from 83 billion to 290 billion in February 2020;
-𝟮𝟬𝟮𝟬 RSI 32.7 after this value, the market capitalization went from 100 billion to 3000 billion in November 2021;
No Financial advice
TOTAL M.CAP IS AT DECISIVE POINT!!Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this TOTAL M.CAP update.
Total market cap is at crucial level now. It is forming a descending triangle pattern. Currently, it is at the lower trendline of the triangle. Previously, we saw a good bounce from this same level. So we can expect a bounce soon in the market it it holds this trendline.
if it breaks and close below the trendline then we will see more dump in the market. Keep an eye on next 4hr candle close.
What do you think about this?
Do you think we see a bounce in the market from this level or do you think that we see more dump.
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
When will Bitcoin trend rise? CRYPROCAPHello my friends. Everything is clear on the chart for you like always, The market in side zone and to return to ascending trend, it must return to above 1.7 - 1.76 T which requires liquidity. consider it.
Good luck.
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