Usdbtc
Bitcoin, rising wedge abcde patternRising wedge on btc, forming an abcde pattern (corrective). If it's corrective, then it's not impulsive, so I would expect a downturn searching the long term rising trendline (around the first weeks of November) to form a very extended ABC pattern from the 2024 highs.
If that trendline should fall, I would be very cautious due to the ferocity of the volatility spikes in this asset.
Bitcoin insane $105,000 target still on track but first a WedgeWhen you use longer time frames, more patience is required for the play.
We've seen since Early 2022, the price started forming a Rounding Bottom.
It completed on 7 March 2024. Then was the consolidation period where traders are freaking out and calling it the next Crypto winter.
But in the bigger scheme of things it's just where demand and supply is settling for the next big move.
Follow on and we have a large falling wedge in play for Bitcoin. And once it breaks out, the target of $105,000 is easily on the cards.
Trading CFDs is not suitable as the daily interest charges on this kind of trade, will eat away at the portfolio.
So, I would only raw dog and buy more Bitcoin once the break out above the Wedge.
Will update as goes.
BTC: Testing the bottom of the old channel Bitcoin is currently testing the lower boundary of its previous trading channel and has, thus far, successfully found support. The initial target for an upward movement is set at 43'500, which not only represents the channel's midpoint but also aligns with the 200 SMA, adding to its significance. Should Bitcoin manage to break through this key level, the next objective would be the upper limit of the channel, positioned around 45'000, offering a notable target for potential upward momentum.
2023-08-07, Monday (Before Asian Market Open) 3:21AM: BTC 4HTo the East it's Monday now.
To the West it's still Sunday afternoon.
Bitcoin is out of the descending wedge which the first try out of 0.236 ($29,576) have been rejected.
And now basis on experimental Blue Diamond drafted. We shall see how it goes from here and how accurate can this Diamond Pattern be utilized on macro 4H Chart. Usually I would use Diamond Pattern on Daily Chart instead of 4H which is quite fragile to test out.
USD/BTC | EVERY BTC TOP AND BOTTOM IS HEREI ve been experimenting with charts for 2 years now to find the right chart to do my BTC buying. What a surprise when I found the USD/BTC chart which, in my opinion, removes all the noise from the BTCUSD charts. What you are looking for when spot accumulating BTC is to have the wind blow from your back. that ignites the bullrun. In other words, when USDBTC is rising that when a short or deep correction occurs. When it is falling, BTC is primed for a rise.
This weekly USD/BTC chart may be found just by typing USD/BTC in trading view and hit enter. No need to find the correct one from the list. You may have noticed by now, that trading view can also generate charts using math, ie combining charts together. BTC/M2 is another useful one, showing BTC Vs the Money Supply M2. All other charts imo simply create noise caused by leverage, market makers and temporary effects of news.
So, assuming that the BTC will ever be stronger than the USD (infinite USD printing vs fixed BTC supply), we may conclude that USD/BTC will break market structures to the downside every chance it gets.
This weekly chart shows that. The circled points is every time USD/BTC tops, the purple graph is BTC price going back in 2015 (further back is not useful as it provides week structure).
If one bought on these tops, together with the Stochastic RSI topping on the indicator below, its been an excellent buy!!
At the moment, USDBTC stands on the lower end of this rising wedge and seems to be breaking it. Confirmation will come in 2 days time when weekly candle closes.
I expect a small continuation to the downside, to strongly confirm the break and I wait for the retest of the wedge up. The Retest and Stoch RSI toping is my signal to go all in.
Timing is irrelevant, could be in Oct 22 or Nov 22. Bear in mind, these are weekly candles.
Also note that around 19800 is where the 5 year MA for BTC is sitting. That's supposedly BTC fair price over the past 5 years, which is always a good opportunity to buy.
Assuming no World War 3 is about to start, this may be a very solid buy.
Bitcoin update 01.03.2023Potentially we can reach liquidity zones from below to eliminate all stop losses of long trades that were opened in the yellow zone, after that a strong upward movement is possible. The vision is the same, in May - April we will see the local peak of this movement
Technically, the market is doing very well.
We trade the market
60% + of all money in stable coins
Beware of overbought altcoins
LSD (Liquid Staking Derivatives) the trend continues.
Don't forget to control your greed, Protect your positions. Think are you over risked
People write to me who are in an unstable psychological state from the fact that they missed most of the movements, there will still be opportunities. Contact a more experienced person.
Bitcoin first buy signal since 2021 target to $30,593Reverse Cup and Handle is a rare formation (probably one I made up).
But since 2003, I've seen them line up and they act just like a Cup and Handle.
The price has officially, broken above Brim
Price >200 - Bullish (Green background)
RSI (through the roof) (Green background)
Target $30,593
Bullish - Medium term
There is still a lot of recovery to take place int he crypto space, and anything can happen. I will be cautious with this one.
How do you calculate Bitcoin's Market Capitalisation?It’s quite similar to calculating the market cap of a share.
To calculate the market capitalization of a cryptocurrency, you need to know two things:
1. The current market price of the cryptocurrency
2. The total number of coins or tokens that have been issued.
Then all you do is multiply the market price and the total number of coins or tokens.
Let’s calculate the market cap of Bitcoin…
The current market price for bitcoin is $16,939 and the current number of tokens in circulation are 19,255,318.
To calculate the market capitalization of Bitcoin, you would multiply the market price by the total supply.
Bitcoin market cap = $16,939 X 19,255,318
= $329,021,194,902
You can go on Google and type in what the price of a Crypto coin is and then what the number of tokens are in circulation.
Then multiply the two and you’ll have the market cap.
If you have a trading question, ask in the comments.
Trade well, live free,
Timon
MATI Trader (Trader since 2003)
BTC 2022 (Bitstamp): MY LAST PROMISING CHART OF THE YEAR ONWARDSThis would likely be the last promising chart of Bitcoin on Bitstamp Version for year 2022 onwards as I ain't continue subscribing no more. Package plan ending in early October, unless there is sufficient incoming crowdfunding for it. Only then the publishing of my ideas here will continue.
In year 2022, I haven't been publishing chart with 75% accuracy since November 2021 and very much of those ideas were published in others social media's secret group. It was the greatest decision ever as there is no counter trade against my ideas happening.
btc h1 trading planwaiting for breakout small bear flag chart pattern, this will be seen more clearly on the 15m time frame
and still wating for brekout big chanel chart pattern on the 1h
anything can happen to the market, I don't want to take a big risk for this trade so I'm still waiting for confirmation (breakout) no matter where it moves
#safeyourmoney
BITCOIN Long Opportunity!Happy Sunday Traders, Investors & Gamblers 😃
Here you can see the current trade that I entered due to the strong recovery and reclaim of the 19.300 support level from Bitcoin, after a brief crash provoked by the CPI Report.
A very similar trade from my last two that I posted here:
1 from June 30th that went 19%+
2 from July 12th where I broke even today
The first confirmation here will be to regain the 20k level, for further price targets, as mentioned previously see the following post below on the daily Bitcoin chart.
Trade:
- Entry 19.300 T
- Target 22.440
- S/L 18.720
4h BTCUSD chart , short to mid-term trade in which I will scale up in the case that we break above 23.000 or the range highs.
Here below in my previous post you can see my upper targets on the BTCUSD 1D Chart:
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
Bullish Engulfing Candle at the 300WMA or another Bear Pennant?
Price held with a small but steady bounce right at the 300W MA---a support many Market Markers have been eyeing since the 200W MA was broken in BTCUSD. ETH showed an even stronger interaction with the 300W MA support. As well, we see a Bullish Engulfing Candle at the bounce, which has also appeared in BTCUSD, signalling a reversal. This is a promising signal for Bulls, however, will the volume hold up?
We already see volume declining, indicating this may be a false signal printed by the daily candles. We can see a possible continuation of the Bear Pennant playing out between the 0.765 and 0.618 Fibonacci Bollinger Bands. The strongest fib levels tend to be 0.618, 0.5, and 0.382. With the 0.618 becoming resistance (previously playing support (follow the green arrows on chart)), and above that the 0.5 band (which played resistance in the previous pennant (follow the yellow arrows on chart)), as well as the 50 Day MA (which has played resistance too (follow the yellow line on chart)), we’ll need significant volume to confirm a reversal.
Bear pennants indicate price will continue in trend, so when price breaks above the upper trend line of the pennant/flag formation this typically signals a break in the pattern. A trader may place a stop order at a price in the break-out zone, however, I warn against being caught out in a head fake here for the three reasons mentioned above: 1. Low Volume does not signal a proper reversal at the break, 2. Price is currently trading between the 0.764 and 0.618 levels, with 0.618 being a common level for price to interact with, 3. The 50D MA has rejected the price twice, and trend lines are typically checked at least three times before diminishing their influence. We don’t know if the 50D MA just happens to coincide with the previous two price rejections, but its correlation should not be considered lightly coming into its third check, especially if volume doesn’t peak around that time.
IN SUMMARY:
I would not advise trying to catch a break above the pennant as you might be caught out by a head fake. The 300W MA did not show a confident rejection, which stands to reason it will be tested again.
Part 2 of BTC "Possible" sells.
Sells
Here I have provided a short/long term sells positions on BTC. We are still in the bearish market and unless it brakes all previous zones I lined out on my previous post you should look at. I personally wouldn't want to buy here until I see some good support for it to go higher.
Buys
For a buying purpose on BTC we would need to really see it push towards 28k with a drop down to 24k with good Zones. If price gets to 28k and forms a support on 24k we would then see Higher Lows in the coming months.
BTCUSD H4 - Short SignalBTCUSD H4
Thinking we may see another downside wave in the Crypto space this week. Seeing some higher highs and higher lows, but still trading south of $30k as indicated.
Until we break back above $30k and use this zone as support, we can assume bear bias. No real target in sight though.
“Misery within, Chaos through out.” The God of ChaosThree Steps to change the game!
As I showed in the chart we have three targets and Ichi proves that ONE BIG MOVEMENT CAN START .
By considering Fundamental news it seems to me we have good potential for good positive movement BUT try to analyze by yourself and play this game. :)
TODAY and TOMORROW are really important for this movement.
REMEMBER:
“In preparing for battle I have always found that plans are useless, but planning is indispensable .”
― Dwight D. Eisenhower