BTC to 60k..!?Hey everyone .. It was a nice run but its time to consider this scenario i think its worth sharing
Lower time-frames showing many bearish signs. Bloody months could be coming
Your thoughts are welcome
.. Not A Financial Advise ..
Xbtusdt
Synthetic pumpsIn the new update, due to the negative divergence in several time frames, the expectation to fall to MA50 is approximately above $54300. After falling, a quick return to the top is possible to hit the ascending channel ceiling, which is at $60000. (Currently there is an ascending trend)
According to the timeline, the ascending channel ceiling of $60000 will be seen before 22Feb, and after hitting the channel ceiling, we expect three waves to correct.
BTC BITCOIN XBT - SOME BAD NEWS AHEAD BE CAUTIOUS BTCUSD XBTUSDBTC BITCOIN XBT - SOME BAD NEWS AHEAD BE CAUTIOUS BTCUSD XBTUSD
💎₿TC: Previous Demand Zone is now Supply zone.Hello Dear Traders,
in last post of btc i discussed about bearish divergence in daily timeframe, divergence worked very nice and btc had quite good sell off from 49800$.
on 4hr BTC is trading in rising wedge pattern:
lower and upper trendline is working as supply and demand zones, rising wedge pattern is bearish pattern, most of the time rising wedge pattern breaks downside.
bt as daily we are seeing strong fundamental news regarding btc. chart patterns may not work in FOMO market.
Also in chart we can see tht after testing 49800$, we seen sharp sell off.
48600$-48800$ was demand zone before dump, now this demand zone is converted into new supply zone.
if btc 4hr candle closes below this fresh supply zone then we might see btc again testing 47000$.
💎₿TC: Strong Bearish Divergence, Dont Ignore This !!!Hello Dear Traders,
i dont use any indicator in my analysis, bt i have past experiences tht whenever there is a Divergence on daily timeframe on RSI.
BTC respects tht very well, as u can see in chart RSI is indicating lower low structure, bt price is making higher-high structure.
Right now in Crypto market fundamental news are very strong, technical analysis may get invalid.
lets see how btc reacts to this bearish divergence.
💎₿TC: Trading In Falling Channel! Again 47200$ 🚀🚀🚀🚀🚀🚀Hello Dear Trader,
Today btc corrected very nice after testing 48200$ area.
on lower time frame btc is trading in falling channel.
also we can see that lower and upper trendline is working as support and resistance.
few hours ago btc tested 43600$ and due to lower trendline support we are getting very nice demand in the price.
i m expecting btc will again test upper trendline or this time it will break upper trendline and again test 48k area.
alts are pumping hard bt due to btc correction alts also corrected this is great opportunity to buy the dip
in next posts i will post ideas of alts trade.
BTC current track to 50KOn its current trajectory BTC is set to break 50K by the Feb 15th or 16th, with the latest being the 23rd.
The middle line of the blue parallel channel is currently acting as support (marked yellow arrows on the chart). If that line holds as support, BTC will break 50k any where between Feb 13th - 16th.
If BTC makes a move down but holds it's current trading channel, it will break 50K at the latest Feb 23rd (marked yellow circle on the chart).
XBT setting up for a long trade on a pullbackIf XBT holds 43975.3 and/or break through then back up we should see a solid push higher. A great risk conscious trade would be to buy on a break back over 43983 with a stop loss under 42848 and a target around 47865 yeilding close to a 3:1 reward to risk ratio!
💎₿TC: Last Barrier to Cross, After tht 50k.Hello Dear Traders,
In Previous ideas of BTC i analyzed Weekly and monthly candle, I was Expecting downside move of BTC on tht basis of Weekly & monthly candle closing.
But in last 3 days btc moved rapidly upside, Bcoz of Elon Musk bitcoin statements and institutions buying.
Again BTC became strong bullish, Once it crosses 42k we will see btc testing 50k.
50k is strong psychological resistance level like 20k, it will be very hard to cross 50k. so many people will book profit once it touches 50k.
40-42k is bears territory, On daily timeframe we seen strong selling pressure previously from this area. Bears will try hard again to dump from here.
in 2 days weekly candle will be closed & it will close strong bullish.
Will not recommend doing anything above 40k.
BTC BreakoutIt took a while for BTC to make up its mind and instead of breaking out of it's previous pennant, it formed a larger surrounding pennant (See my last post).
This larger pennant is currently being broken (marked breakout on the chart).
Look for Bitcoin to start moving up towards a new all time high in the coming days.
Circled in yellow on the chart is my target area.
💎₿TC: The Only Reason Still Bitcoin Will Dump Hard.Hello Dear Traders,
Last 3 days are Extremely volatile and uncertain. Greed and FOMO is on the Peak. Anything is happening in stocks and crypto.
Today i would like to show u one last possibility tht bitcoin will dump hard in upcoming weeks.
as u can see in chart on march 2020 BTC dumped hard to -50% in a day, and tested 3500$ zone. why it happened?? we know all bcoz of covid panic sell off bt just look at DXY chart in march 2020 world markets and btc was dumping and DXY pumped hard.
after cool off , in april 2020 DXY started dumping and btc and stock market started to rise.
in aug-sept 2020 btc was stable and range bound, reason was DXY was showing strength. again in oct 2020 dxy started dumping, and btc started pumping from 10k.
the current situation is identical , dxy found strong demand and in upcoming weeks DXY is going to rise upside.
once dxy started rising, btc started dumping from 42k area. on weekly time frame BTC is already very bearish bt today bcoz of elon musk BTC suddenly pumped.
not only btc is weakening bt all other currencies like EURO,JPY,AUD are showing correction.
if in upcoming days btc and dxy starts pumping, then this year will be exceptional, and soon btc will test 50k.
Please Share ur views on this in comment section.
💎₿TC: Unable to Cross Last Week High Hello Dear Traders,
Last week closed bullish bt with selling pressure. in this current week btc found demand from 33k and now testing supply zone.
38400 zone is bears territory, i noticed tht when btc crossed 38k on lower time heavy market shorts were executed immediately.
38400$ is also a high price of last week candle, if btc crosses 38400$ then bears will get knocked out.
as we know well on weekly and monthly timeframe BTC is bearish. thts why on lower timeframe it looks like bears are getting stronger here, if daily candle closes below 38400$ then we might see again 33k area.
Please Post ur Views and charts in comment box
BTCUSD - diagonal resistance aheadHi guys,
Looking at the 4-hour chart and if we exclude the so-called "Musk candle" we can see that BTC is unable to surpass the diagonal resistance at $35,000. Actually, we can already see few wicks above it that were immediately eaten up by bears. So, if the $34,700 horizontal support is broken and could not provide the required stability, I would open a short down to $34,200 or $33,800.
Personally, I think the diagonal resistances/supports are a lot more stable than the horizontal ones since are usually part of a larger timeframe trend and get tested multiple times making them solid.
The $34,700 level is even more important when you think about the fact we had a bearish rectangle on the 1-hour chart
So, I'm looking forward to seeing how that level reacts when the price reaches it.
If you zoom out to the daily chart, we will see that the mentioned diagonal resistance is in line with the short 26-day EMA. I don't think we could expect a reversal leading to a new all-time high if this moving average is above the price mark.
Cheers,
💎₿TC: Weekly Candle Analysis, What Next ???👇👇👇👇👇👇👇👇👇Hello Dear Traders,
we just posted monthly candle analysis here
after 2 weeks of bearish closing on weekly time frame today, last weekly candle closed bullish bt still we can see strong selling pressure. as monthly candle closed bullish bt selling pressure is clearly visible. we can see short-term bounce to 37k-38k bt it will be for SHORT.
So i recommend to everyone be practical and follow the chart without including emotions. once chart becomes bullish again i will change my mindset to bullish again bt right now i m bearish on btc.
Please see Monthly candle analysis of btc idea here
Please Share ur thoughts in comment below.
💎₿TC: January 2021 Monthly Candle Closed, Analysis Below 👇👇👇Hello Dear Traders,
Today BTC closed its monthly candle. after 9 months of bull run finally we can see strong evidence of bears on monthly candle.
In January btc made high of 41950$ and Low of 28130$, u can see tht there is long candle wick upside, it means bulls moved price to 41950$ but immediately bears took the control of btc and pushed down a price of btc, closed near opening price of month. after long time bears showed courage to short BTC with heavy volume.
i m expecting Feb-Mar will be month of healthy correction in BTC. from here btc might test again 37-38k area bt again bears will took the control bcoz BTC is slightly looking in bears hand.
Also DXY monthly candle closed strong bullish so there is no scope for bullishness in currency traded against USD pairs. in upcoming Months EUR,JPY,GBP,AUD will become weak and USD will get more n more strength. BTC will have also impact of DXY bullishness.
I will be looking for SHORT opportunities on Every rise of BTC, until i see DXY is becoming weaker on weekly and monthly timeframe.
BTC Concentric Pennant PatternsIn looking at Bitcoin you can see the red pennant pattern marked on the chart. This is the consolidation pattern BTC was initially in.
BTC had a small breakout of this pennant, but dropped back down into the same pennant.
In zooming out on the chart you can see the real pennant consolidation pattern BTC is currently in. A much larger pennant that has formed around the initial pennant.
We'll wait and see how this plays out before we know which way BTC is heading.
One good thing about the larger pennant pattern is that it's a larger consolidation marker. Meaning, a larger area of support for future movement.
In the future when BTC moves above the all time high, this area (30k - 35k) will become a strong area of support due to the large pennant that has formed and been maintained for so long.
In essence BTC has printed a really big stepping stone for support of future movement.
In 5hrs, Weekly and Monthly Candle will be Closed, Its So UGLY.Hello Dear Traders,
as u can see in chart current weekly candle is not looking good, its clearly showing heavy selling pressure in btc. in last post we discussed about bcoz of elon musk tweet btc pumped hard bt it was unable to cross last weekly candle high. once it touched last weekly high again sealing pressure increased and bears started to short btc at great price.
After 9 Months we are seeing a big wick on monthly candle, once monthly candle closes, i m expecting selling pressure will be increased just after closing.
in various ideas i discussed about 24000$ demand zone and after weekly and monthly closing it will trigger huge bearish sentiments all over the world.
after candle closing i will immediately post a analysis idea.
Please share ur views on monthly and weekly candle closing in comment box.
BTC Breakout, push towards new all time highBitcoin has been consolidating for a number of weeks now. However, today BTC has broken out of its previous trend.
Look for a retest of the breakout level before moving upwards towards the all time high.
A break out will typically rise, show a few confirmation candles above the break out, drop back down and tests those break out levels (green line marked on the chart). A bounce happens (previous resistance becomes support) and the stock continues upward.
Look for Bitcoin to move up towards the yellow circled area on the chart in the coming days.
💎₿TC: Elon Musk Saved Bitcoin From Critical Zone 🚀🚀🚀🚀🚀🚀Hello Dear Traders,
from last 2 weeks btc was continuously dumping and finally it came to demand zone of 28k. after reaching to demand zone price action was very weak and strongly indicating btc might break 28k level. but some how it sustained also we know all gamestop short squeeze. 1 day ago suddenly doge coin pumped. i was expecting this storm will hit btc and today elon musk changed his bio to bitcoin and bitcoin pumped hard. in btc also we seen short squeeze. large short bets got liquidated. also dominance started rising and alts were dumping. 2 days remaining for monthly candle close, now btc turned from extreme bearish to extreme bullish.
next update will be on detail chart analysis.
💎₿TC: On Cliff, If it Breaks then 24k is for SureHello Dear Traders,
in last post i analyzed weekly candle of btc, which was extremely bearish. due to that btc is continuously approaching lower levels.
now btc is trading at very important area. this is last demand zone if btc breaks then we can see btc near 24k in upcoming days.
after 3 days we will witness monthly candle closing if btc closes below 30k then it will invite new bear market.
already btc was parabolic and stretched a lot. also many people will start profit booking and it will initiate panic selling.
next 3 days are very important which will decide we are in bear market or not.
Bitcoin Is Close To A Bottom According To This RSI PatternMost major bottoms since September of 2020 has been marked with a 4 hour Bullish divergence on the RSI.
This is where price goes lower, but the RSI moves higher to form a divergence.
The best bottoms were when the RSI was in oversold territory (below 30)
We are currently in a similar situation and I am looking at this for a potential bottom zone.
Ideally, we bounce slightly higher (maybe $32,500) and retest the yearly open as well as the .5 Fibonacci zone.
These both reside around $29,300-$29,500.
What we want to see are major bids fill across all spot exchanges like Coinbase, Bitfinex, Bitstamp and Binance.
Funding should be reset to negative or neutral.
This zone will provide a ton of liquidity because there are a lot of stop losses in this region (from most longs in 2021) and will liquidate any 50x-100X longs that think we are currently at the bottom.
This will also trap shorts who think that 'the top is in' and should we get an aggressive buy back, they will be forced to buy back in and give us fuel for the upside.
It is possible that $42,000 was a top and the market runs all the way down to the 61.8% zone or even back down to $20,000 level (with enough FUD and the dollar regaining strength under Biden administration.)
So invalidation can be a 4 hour candle close below the yearly open around $29,000 (tight stop loss) or a close below the $27,000 level (loose stop loss).
Take profits can be around $34,000-$35,000 for a short term swing or $46,000 targeting a continued bull run (longer term swing trade.)
We need to first assess the reaction in this zone and whether we get confirmed 4 hour bullish div and then take it from there.
Hope your trading goes well and all your bids get filled.
If you enjoyed the analysis, drop a like and if you have any questions, comments, I'll do my best to answer them all.
💎₿TC: Previous Demand Zone will Flip Into Supply Zone.Hello Dear Traders,
In last Idea we discussed about btc respected solid demand zone of 28k. As we all know btc dumped from a classic symmetrical triangle. when btc was trading inside triangle lower trendline was acting as a demand zone, bt btc dumped frm demand zone and now this demand zone will be converted into fresh supply zone. whenever btc tests lower trendline of triangle will will be rejected.
i m expecting btc will again test 28k area after rejecting from trendline.
in alts we are seeing strong spike of demand as btc dominance is approaching below 64%. i m analyzing best alts which will pump 2x-3x in upcoming days. once i done my research i will post the idea, dont miss tht.
💎BTC : After 14 Weeks, Today We Closed Strong Bearish 🔴🔴🔴🔴Hello Dear Traders,
Today we saw strong bearish closing on weekly candle, After 14 weeks of Historic bull run. we can now confidently say tht 42k is bearish territory and its not easy to cross with healthy correction of 30-40%.
Weekly Candle Chart:
On daily timeframe i have marked solid demand zone, i m expecting bulls will enter from this zone. on lower time frame also btc is facing heavy selling pressure.
this is indicating btc needs heavy correction to get fresh demand and new participants in market.
this correction is very good for alts, as i previously mentioned alts on btc pairs are gaining strong momentum.
BTC dominance is rapidly decreasing and giving greater leverage to alts. i think now its time to focus on ALTS.
My next posts will be on alts , which are strong bullish on weekly , i recommend u guys to hold strong and don't panic sell on lower time frame corrections caused by btc dump. dont enter and exit with 10-20% profit, wait for targets. it will take some time to achieve.
Patience is KEY
