BTC | New ATH Incoming | + 135% ??A very interesting fractal from 2021 lead to a 135% increase - and a new all time high.
Bitcoin has been following similar patterns to the bullish twin-peaks in 2021. After a multi-month correction, the price proceeded to increase another 135% over the next few months. Some weeks fast, and some weeks sideways.
Is it possible that BTC follows a similar pattern - and increase another 135%, all the way to 170k?
Hec, I'd even be happy with just a 100% ! That would lead us up to around 149k, which can also be considered a phycological resistance zone.
While you're here! Check out this post on PEPE:
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BINANCE:BTCUSDT
Btcusdtlong
BTC - NEW ATH on the HorizonBitcoin has surprised us with a sudden turnaround over the past two weeks.
✅ Technical indicators are bullish
✅ Candle stick patterns are bullish
✅ Trendlines are bullish
I can't help but come to any other conclusion - BTC is now BULLISH, likely making it's way to a new ATH.
This will bring about my much anticipated ALTSEASON:
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BINANCE:BTCUSDT
BTCUSD | Next Prime Zone for Long OpportunityWelcome back! Let me know your thoughts in the comments!
** BTCUSD Analysis - Listen to video!
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BTCUSD I Corrective wave in process and bullish accumulationWelcome back! Let me know your thoughts in the comments!
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BTC - NEW ATH Approaches and ALTSEASONThe first time I started talking about my outlook for BTC in 2024, was in MAY. This is the original post where I first propose the Elliot Wave theory, with a 30% multi-month correction:
It's been a painful journey that required a lot of patience - but today, I am pleased to see that the idea has payed out by 95% so far.
The play has always been a "multi-month" approach, and now it is the last push towards the new ATH which I believe to be anywhere from 82K upwards.
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OKX:BTCUSDT
BTCUSD I Forecast and trading plan Welcome back! Let me know your thoughts in the comments!
** BTCUSD Analysis - Listen to video!
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BTC after CPI. 70k soon?In this video, I analyze Bitcoin's price action following the recent CPI news.
Price deviated above the Monday range but returned to the 50% level of that range, offering a great short trade opportunity. I discuss two potential scenarios for future price movements and share insights into my trading strategy. Despite short-term fluctuations, my bias remains bullish, with a target of $70,000.
Bitcoin All Time High NOT PRICED IN YETFor weeks now, I've been talking about why the all time high for Bitcoin is NOT YET in. (Proof here)
Here are the main reasons why.
👉 Elliot Wave Theory
I've been discussing EWT for many weeks alongside with the bearish M-Pattern that marked the beginning of the corrective wave (3-4). Once the corrective wave finishes, which I expected to be a multi-month playout, the final impulse wave up awaits us (4-5).
👉 Bitcoin-Dominance Increasing & ALTS Bottom
Considering MANY alts have seen bottom patterns after corrections (as discussed in the video), its safe to say the dump is over. But BTC.D is still increasing... If you want to further understand WHY this is a good sign, see HERE:
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KUCOIN:BTCUSDT CRYPTOCAP:TOTAL3
Elliott Wave Analysis on Bitcoin (BTCUSD)Elliott Wave Analysis on Bitcoin (BTCUSD)
Wave (I) and Wave (II) on Weekly Time Frame
Starting from the beginning of the Bitcoin chart, the first significant move up in price has been labeled as Supercycle wave (I). This wave represented the initial major bull run in Bitcoin's history, culminating in a peak, followed by a corrective phase, labeled as Supercycle wave (II). This corrective wave ended at the low observed in November 2022.
- Supercycle Wave (I): This wave exhibited impulsive characteristics with five clear subdivisions (waves 1, 2, 3, 4, and 5).
- Supercycle Wave (II): This was a corrective wave, taking the form of an ABC correction, and concluded in November 2022.
Wave (III) on Weekly Time Frame
Since the low of November 2022, Bitcoin has been unfolding Supercycle wave (III). This wave is expected to be a major bullish phase, often characterized by strong upward momentum and significant price increases. Wave (III) typically shows the following characteristics:
- Strength and Momentum: Wave (III) is usually the longest and most powerful wave in a five-wave cycle.
- High Volume: Accompanied by increased trading volume, indicating strong market interest.
- Impulsive Nature: This wave should subdivide into five smaller waves on a lower time frame, confirming its impulsive nature.
Subdivisions of Wave (III) on Daily Time Frame
Within the context of Wave (III) on the weekly time frame, we are currently analyzing the subdivisions on the daily time frame. The current structure suggests the following:
- Wave ((1)) of Wave (III): This wave is unfolding and subdividing into five smaller waves.
- Wave (1), (2), and (3) of ((1)): These waves have been completed.
- Wave (4) of ((1)): Recently completed around April 2024.
- Wave (5) of ((1)): Expected to breach the all-time high to confirm the start.
Current Status and Invalidation
- Current Status: Bitcoin is potentially in Wave (5) of ((1)) of Wave (III), which needs to breach the all-time high for confirmation.
- Invalidation Point: If the low of April 2024 (where Wave (4) finished) is breached, this would invalidate the current count. It would suggest that Wave (4) is still unfolding, possibly as a double correction.
Characteristics and Structure of Wave (III)
1. Wave ((1)): Typically the smallest wave but should be identifiable as a five-wave move.
2. Wave ((2)): A corrective wave, usually retracing between 50% to 61.8% of Wave ((1)).
3. Wave ((3)): Often the largest and most powerful wave, usually extends to 161.8% of Wave ((1)).
4. Wave ((4)): Another corrective wave, typically shallow, often retracing 23.6% to 38.2% of Wave ((3)).
5. Wave ((5)): Completes the impulse sequence, may extend or truncate but should be a five-wave move.
Conclusion
The Elliott Wave analysis on Bitcoin (BTCUSD) indicates a bullish market ahead, driven by the development of Supercycle wave (III). This analysis is based on the assumption that the low of April 2024 will hold, confirming the end of Wave (4) of ((1)) and the start of Wave (5) of ((1)). If this low is breached, the market might still be in Wave (4), unfolding as a double correction.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
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RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Bitcoin 📢 NO MORE DUMPS... but NO PARABOLA either📉Hi Traders, Investors and Speculators of Charts📈
More and more institutional buyers have recently admitted to investing in BTC, as we see Grayscale and BlackRock (to name a few) all invest massive amounts into this digital currency.
This could mean a few things for this bullish cycle, including:
📢 More reach (more retail investors)
📢 Higher market cap (more wallets being created)
📢 Less volatility than previous cycles (institutional trading and holding)
📢 More reach (more retail investors)
Recent news headlines have made almost anyone with a access to the internet aware of Bitcoin, if they haven't heard before. BTC promises great returns and is generally more stable than altcoins, making it a great start for newcomers who may want to try their luck with cryptocurrencies.
📢 Higher market cap (more wallets being created)
The market capitalization increases as more liquidity (cash) is invested into BTC. As more and more institutions are buying and more and more people are buying, new wallets are being created at and more money is converted to Bitcoin.
📢 Less volatility than previous cycles (institutional trading and holding)
Usually when large institutions enter the market, the volatility reduces. We see this clearly with most-traded commodities such as gold and silver. It becomes a safe haven for investors as they see brokers and other institutions give the nod of approval to Bitcoin.
These are a few reasons as to why I'm not expecting a parabolic increase towards a new ATH, and neither a correction bigger than 30%.
If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets.
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BINANCE:BTCUSDT
Adequate no BS BTCUSD analysis, no random pullbacks to 10k :)Now almost every second or third analysis will show you a huge red arrow pointing to random areas to the downside.
Let's see what other options we have for BTCUSD.
☝️The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌
☝️ALL videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment. Important disclaimer - this idea is just a possibility and my extremely subjective opinion.
BTC - THIS Last happened in 2019 📈Hi Traders, Investors and Speculators of Charts📈📉
As you know, we're trading in the opening moments of a new bullish cycle.
A quick look at the BTC chart from short term and macro term perspective. In the 4h we see a flag pattern, and in the weekly chart we see a significant event that last happened in June 2019, which was the opening moments to the previous ATH.
From a technical indicator analysis and BTC chart analysis (short and macro), it seems as though BTC is very well on it's way to a new ATH.
Remember, support and resistance zones are great to watch for possible long and short opportunities during brief pullbacks!
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BINANCE:BTCUSDT BITSTAMP:BTCUSD
BTC - NEXT: Extremely Overbought, RSI hits 102Hi Traders, Investors and Speculators of Charts📈📉
I'm expecting some more volatility on Bitcoin as the RSI recently 102 which indicates and extremely over bought market. This is also confirmed by the technical indicator. Usually, after such extreme numbers are hit on the RSI, the price needs to "cool down" or retrace before continuing back upwards. This could mean lower price action for a few days ahead.
It's vital that we retrace back towards the $32k zone to CONFIRM this as new support, and not a fakeout. Two scenarios I have highlighted on the chart is either straight up to the 1.618 and then the support confirmation, or first support confirmation and then up to 1.618.
Either way, I'm bullish on BTC and I'll be looking to take a long from support at $32k.
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Bitcoin More Bullish Signals For 29.4!Bitcoin yesterday pump cleared weekly high and performed a SL hunt to 28.5, after that NY retraced it all back and In My Opinion we will crawl up today then jump to 29.4 at least. Could go to 26.9 or 26.8 but losing that level will send it down to 25.1.
Thanks for watching