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Bullishbitcoin

BTC testing 200 SMA, The Bitcoin Bulls are Back! $74,647 🎯The Bitcoin Bulls are Back! After setting a new ATH @ $64,841 in April, Bitcoin experienced its the first major sell (some may say manipulated) off in this Bull Run Cycle (-50% from the top). We have been closely watching the BTC chart for a strong trend reversal signal. From the ATH @ $64,841, Bitcoin formed a triple bottom in the $28-30k region, the last bottom experienced on the 21st July is confirmed as our bottom here. The Swing Call Script gave further confirmation of the strong trend reversal as a Buy signal was triggered on the 4H Chart on the 22 July and further on the 6th August showing strong signs of bullish momentum back into the market. From here we expect BTC to retest the current ATH @ $64k which is a 40% Gain from the current price @ $45k. Further to this, we can expect some heavy resistance between the 61.80% - 78.60% fibonacci level. A clear break past the 78.60% fibonacci level see BTC setting a new ATH at the 127.20% fibonacci level. Please see previous analysis below. Happy Trading :) BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below. Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. #Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from £BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 #BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
2
Final Low of the Year? BTC/USD : Minority Venture Capital (MVC)NEW DAILY CLOSING SWING LOW ^Says it all. After not having enough strength to even reach the death cross of the 50 SMA over the 200 SMA, BTC is back down testing its lows. I think it's very unlikely that the ~30k area will hold the price up for a fourth time. With the 6th day of 9 just beginning on TD Sequential count, I'm looking for a 9 buy and reversal in the mid/high 20s. If this comes to fruition, I believe that there is a high likelihood that it would be bottom for the year. However, if the 9 comes and we are still floating around the 30k mark, I doubt it will turn into any substantial bull run.
INDEX:BTCUSD
by linde
Double Bottom BTCUSD --> BULLISH MOV'T AHEAD (supporting vol!!!)This double bottom pattern pattern describes a change in trend, and thus a reversal of momentum, from a previous downtrend. This changes the prior leading price action, switching from the downward movements and indicating the bullish up-moves ahead. As a typical double bottom, it looks like the letter "W". We advise a long position with the price target equal to the height of the pattern, a move with the magnitude of 4.77%, to 10924. Especially pertinent to note is the huge comparative volume on the up moves within the pattern's formation, substantially larger than the bearish movements. This strengthens the likelihood that this bullish reversal pattern is real, and will be realized.
BITSTAMP:BTCUSDLong
by LaurenTrading
My Short Bullish Bitcoin Market Analysis!Hello everyone! This is my first short (Bullish) Bitcoin market analysis. (I think everyone has heard about the "6th theory", it's a bit based on that) My scenario: Bitcoin will go down to 7,200$ levels, where we can find the support. After that we will see a huge jump up to 8,100-8,200$ levels (Fib 0.786). We will face some resistance there, so I expect is to retrace a bit down to 7,700-7,800$ levels. As you can see, I have drawn a green trend line there, that indicate a support. I'm basing that support line on the previous support line, which is at the same level. If we look back to the last BTC pump, we can see that we went up, tried to break it, and after a day we broke it and held that level. From there we went up. We actually tested that support level for about 2-3 times. (That's what I'm basing the green support level on) So when we bounce from it, we will break the 8,100$-8,200$ levels (0.786 fib) and go up to the next Fib level, which is at around 8,500$ (0.618 Fib). That's another resistance level which I think with this sentiment, we will be able to pow through it and go up to the 8,800$ (0.5 Fib) but then go down, possibly retest the 0.786 level or if there's volume maybe, just maybe even 8,500$ (0.618 Fib). Now, here is my logic which we should remember: 1) The 6th theory. Basically, the theory goes that on every 6th of every months the way Bitcoin goes (up or down) changes. If this is true, then we should see a spike, up. 2) If we go down to lower 7K$ levels, it's good. Why? Because if we start from there, we will start "fresh". That's a big support line now for Bitcoin, and from there up (lower 7K$ levels) we will go up with more strength and better sentiment. 3) The MACD is high and it needs to come down, that's why I think we will go down to lower 7K$ levels, and we have seen BTC's RSI also that low, so that's not a problem. Which will mean more buy power and again, stronger push. (Low RSI, Stoch RSI and MACD) 4) We are making lower lows. Notice how the low few months ago was just below 6,000$ level then 6,400$ and now around 7,000$. this means we are going up slowly but surely and are building up a good base. And so I think it's not that likely that we go below 7,000$. Or we might not go back to lower 7K$ levels and just from this mid 7K$ level go up, which is also a possibility but I prefer that we do go back to lower 7K$ levels. Then we would have a better base and more momentum. Thanks for reading my technical analysis, hope you enjoyed. BITCOIN
BITFINEX:BTCUSDShort
by R4Z3D
2
My Short Term Bullish BitCoin Analysis.Hello everyone! This is my first TA that I'm posting here. Thought I would share my thots about Bitcoin and what we are going to do in the short term. First my scenario: (This is NOT a financial advice, it's my own opinion and I think this is approximately how the market will play out.) So, we can see that the MACD is a bit hight, and I think we still will go down to lower 7K$ levels (7,200-7,300$). At that point, the RSI will be lower, and it will be around 6th of June. (The 6th theory that everyone has been talking about? :D ) If/when that happens, we will see a massive break out up to 8,200-8,300$ levels (fib: 0.786), a bit of retracement down to 7,700$ level. I'm basing that off on the last BTC price pump, we broke that line and held it around 3 times. So it can definitely be a strong support. Then as you can see we will go and try to break the 8,200-8,300$ resistance (fib: 0.786) and probably get rejected at higher 8K$ level (8,700-8,800$). Also, I think this dump to 7,200$ will be good, since it's a good support and we can gather more confidence at that level and bust it with more power than before. Or we may have the big pump like we did for the last couple of weeks and break through the 8,200-8,300$ levels without any retracement back to 7,800$. I will update this as we go! Wohoooo! $BTC #btc $Cryptocurrecny $Altcoins
BITFINEX:BTCUSDShort
by R4Z3D