Bitcoin (BTC) analysis thread

Small dip today but great to see how far its pushing up!

Hi all.
Long time no see but there’s plenty of reasons for this. First of all there’s no major change in my TA view because I’m looking only in long term BTC perspectives. Secondly I’m really busy. But… these days I’m setting some new hardware, getting it ready for work and while I was looking at the newly added funtionality at TradingView I’ve found something really interesting which I can`t miss to share with you.
Just look at the chart below. It`s a 1D BTC chart with a perfect Elliott Wave (EW) price action. If you don’t know what Elliott Wave is you can see it here -> https://www.liberatedstocktrader.com/elliott-wave-theory-principle-examples-stock-market/. In short - Bitcoin is not in a bear market, neither we saw it`s top for this cycle yet.
The future projection (the blue line) is purely indicative. It’s based on the previous EW cycle which is good starting point for the next one and may be the next ATH.
That’s it for now. Think good about it. Soon I’ll try to look more deeper into charts to see what we can find more there to see more clearly the BTC presumable future moves.

BTC price today $45,672.73, drops .3.13%, the next possible support maybe $44k, in this month expected the price still move on range $40k and $50 price level, looking for low price to hit the market

FXOday posted:
BTC price today $45,672.73, drops .3.13%, the next possible support maybe $44k, in this month expected the price still move on range $40k and $50 price level, looking for low price to hit the market

Still in that massive range. Its got to break before im going to enter in a trade i think

BTC is approching 38K. This is the level, where the price had a strong bounce earlier. The level may hold the price and push it towards the North. Meanwhile, the bear is going to dominate in Bitcoin.

sharabela posted:
BTC is approching 38K. This is the level, where the price had a strong bounce earlier. The level may hold the price and push it towards the North. Meanwhile, the bear is going to dominate in Bitcoin.

It's still in that tight range on the higher timeframe. Atm its at 40K is but not broken any structure really cant wait for it to shows its hand properly

Might push on from here but no real strength in the impulse so looks stuck in a range at the moment.

I hope btc gets past the 48k mark soon, was hoping it would do it last month but it wasn’t to be.

Bitcoin seems to have found its support at the up trending trendline's support. The daily chart shows that the price has been heading towards the North. I assume it may find its next resistance at the last swing high. It means there is enough space for the price to move towards the upside.

sharabela posted:
Bitcoin seems to have found its support at the up trending trendline's support. The daily chart shows that the price has been heading towards the North. I assume it may find its next resistance at the last swing high. It means there is enough space for the price to move towards the upside.

I think it is definitely still bullish there seems to be a lack of liquidity or momentum at the moment. Just ranging up and down atm

Seems to be ranging at the moment. Hopeful for a big breakout upwards in the near future 🤞🏽

Still no confidence in the bullish sentiment at the moment. No impetus at all in price action

sebking1986 posted:
Still no confidence in the bullish sentiment at the moment. No impetus at all in price action

I feel like more and more financial institutions are waking up to the reality of BTC and the potential problems it can alleviate.
I think more and more notable people are getting involved too.
Maybe I'm watching too much Saylor talk about it - but I'm pretty optimistic.

Hi all.
I`m here again but this time will be a bit more different from the other ones.
I`ll be short and most of you will not like the below chart may be, but in the markets we must be always emotionless.
In short, BTC price could be at the edge of the cliff right now. When we look at the daily chart we’re seeing a very good looking ascending channel. That’s bullish right, but when we zoom out we’re seeing something a lot more different than bullish. That’s a bear flag. If you don’t know what a bear flag is then just google it, but a bear flag, like it`s name is showing, is a bear pattern. There’s no confirmation breakdown yet but if this happen we could see a price drop to the mid $20K - around $25000. We just got to be prepared and the world (and BTC) would NOT end with this. Will this happen only the time will show. When will be the bottom if this happen… Think I have something in my pocket to point the bottom but I`ll tell you more about this if and when this drop happen.
That’s it for now. A simple and clear chart. I hope that such negative charts will be less and less in future but that`s the real life. I have something positive prepared for the next time too plus some trading strategies testing but for all of this… when the time have come.
See ya.

The level of 38K seems to be a level of support. However, the daily chart does not show that it may gather bullish momentum soon. We may have to wait for a weekly candle to come out as a bullish reversal to go long in Bitcoin.

It is in such a tight range. It is hard to see where it is going without a breakout to assist. Ill be holding to make sure i am happy with the direction after the retest

CraigMcG2020 posted:
It is in such a tight range.

Absolutely. It's so boring already.

Bitcoin had a strong bearish day today. It seems that the candle may close below the support. If that happens, the price may remain bearish in the daily chart for a while. There is a down trending trendline. The buyers may have to wait for the price to make a breakout at that resistance to go long in Bitcoin.

I think we will see these lows and support broken this time around and head to the low 20k region.