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Btccusd

BTC Daily Break Above Rising ResistanceBTC has managed to hold above a rising resistance that was currently dictating the price action. There are roughly two daily bars before we meet this trend again while being above it. The rising wedge broke to the upside, so my bias for this trade is long. RSI is 72 at time of publishing. Long targets are 77,800 first, and then 84,600. These is the 1.618 extension and the 2.618 extension of the previous high swing low. Not financial advice. Do your own DD. Thanks for reading the idea.
BITSTAMP:BTCUSDLong
by BallsOfSteel32
Bitcoin - 20k or 18k before 40k! CME GAP The solution to this analysis is to find the most probable reversal point for this corrective move, that is currently happening on Bitcoin. Bitcoin failed to make a parabolic move. If we compare the start of the bull market in 2018, it was different because Bitcoin parabolically rose. But this time is different! We must now concentrate on catching the bottom of this correction so that we can ride wave 3. Waves 3 are usually the most impulsive and most parabolic, so you really want to be in the market. To catch the bottom of this corrective move, we need to use the most effective tools, such as FIB, GAPS, and Elliott Waves. Elliott Wave works best with crypto and stocks and worst with forex, so you want to use different tools for each environment. On the chart, you can see 4 possible reversal points. Which one do you think is the most probable? Let me know in the comment section; I want to see your opinion! In my opinion, the 0.618 FIB seems the most logical level for a trend reversal. But POC and the start of the gap at 16859 are also pretty juicy. But it's too low; it's hard to believe that the market will go back to these levels. On the other side, everything is possible. Also, we have a CME gap on BTC1! futures, which is between 19995 and 20460. The chances of a pullback in this area are very high! This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately. The true issue and threat is the unfilled GAP between 16.8K and 20.4K. Usually, all gaps tend to be filled. You can do a backtest, and you will see that this is pretty much true. We don't need to close the gap completely, but partially, yes. That's why it's almost a guarantee that Bitcoin is going to touch 20500 sooner or later. It can be this month, next month, or even later next year, in 2024. I hope it's going to happen sooner rather than later! I am not shorting anything, just to be clear. I rather prefer short-term longs with low RR rather than shorting. I don't want to play against the main trend, which is bullish! I believe we will hit a new all time high on Bitcoin this year or next year. Thank you, and for more ideas, hit "Like" and "Follow"!
by UnknownUnicorn2537518
78
BTCUSD approaching resistance, potential drop! BTCUSD is approaching our first resistance at 4320.0 (horizontal swing high resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension, Elliot wave structure) where a strong drop might occur to our major support at 3867.2 (horizontal swing low support, 50% Fibonacci retracement). Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:BTCUSDShort
by easyMarkets
2