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Bitcoin (BTCUSD) in Technical_67f83ac065b44

Bitcoin (BTCUSD)

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We are now on week 11 of testing this trend line. Bitcoin has been stuck in the 8000-9000 area for a while now and building up pressure on this level like a dam ready to burst. So I am expecting this line to fail as resistance any time now. I think the fireworks will start very soon.
#16 - July 13, 2020, 02:09:14 PM
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Lolek555

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BTCUSD

short term (immediate) analysis:

after the break above 9700 price has rejected 9760 and is sitting below 9700 which is major volume zone for the current day. it looks like that shorts are accumulating below this price. potential target for shorts is around 9600 where is the biggest volume from previous day. One hour chart shows lower big vol level at 9585.  
#17 - July 26, 2020, 01:22:25 AM
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Lolek555

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BTCUSD short term and longer term view.


On weekly and daily chart BTC tested big volume zone at 10200-220 which if broken could lead to further longer terms gains. but from shorter perspective it looks that 9985 is now main near term resistance (m15 chart) and 9700 which has been broken overnight act as major support from buyers side. very short term support is located when the biggest volume candle started the rally above 10K - at 9850. 
#18 - July 26, 2020, 03:29:47 PM
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Bitcoin (BTCUSD) in Technical_6803a6c52eb12
#19 - Today at 08:48:50 AM

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Bitcoin has reached major resistance on the monthly time frame. I think the Bitcoin price should dump hard around the 33000 level. In the past, the price fell about 60% and 75%, but even a 25% fall from 33000 will be very large.
#19 - January 02, 2021, 08:45:29 PM
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Resh1969

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As I posted months ago any kind of political chaos in the USA will create instability in the minds of investors driving up the price of Bitcoin. I think the sky is the limit for bitcoin as companies and people try to invest in it.
#20 - January 07, 2021, 04:13:27 PM
Bitcoin (BTCUSD) in Technical_topic=4522

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Bitcoin fell down to $27771 soon after my last post. This was a drop of about 15%.

I am bearish on Bitcoin short term. That is, now through the next month or so. Here are the reasons why:


  • The monthly chart I posted last time is still in play. Bitcoin recovered from the 15% drop fast and has now surpassed the resistance line I had drawn. However, it is a MONTHLY chart. This month is not over and neither is the next month. This could be a 'false break' as traders call it.

  • Bitcoin is reaching exactly 2x the high that was reached in 2017. What this means is that people who bought at the top of 2017 during all the hype, and who held strong without selling this whole time, are now seeing a 100% profit. It is a good profit target for them.

  • Bitcoin started falling hard in January 2018. Which was the beginning of the bear market. We are now exactly 3 years later. If history repeats itself, we could see a big drop in Bitcoin price.

#21 - January 07, 2021, 04:23:44 PM

FzFx

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currently the price of bitcoin has been able to reach $40,000, a very high price but it seems that the increase in bitcoin price is getting stronger, is there really a difference between the demand and supply of bitcoin that is so lame that the buyer's strength is hard to beat. When will the price of bitcoin drop to $20,000. possibly the figure of 20,000$ has become the next strong support.
#22 - January 09, 2021, 04:58:38 PM

Tahajud

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I think the price will continue to rise, but conditions like this need to be watched out for, because in this bitcoin movement there is no longer a resistance area, where it is always looking for the highest price continuously, and the danger of this can trigger a pretty drastic decline later
#23 - January 19, 2021, 07:08:25 AM

Miracle Fx

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Bitcoin still has the opportunity to go up, in the $ 38000-40000 price range. but you should take a sell limit position because in my opinion the price is overbought.
#24 - January 19, 2021, 07:55:23 AM

Trader Candra

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Bitcoin continues to fall due to sentimental fundamentals from several large entrepreneurs mentioning the gloomy future of bitcoin, in addition to the overbough condition of bitcoin, currently bitcoin is looking for a strong support area.

The most appropriate position as bitcoin's first strong support in the $ 44K- $ 45K price range.
So Bitcoin is likely to experience a decline in the next few days.
#25 - April 25, 2021, 11:39:36 PM
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#26 - Today at 08:48:50 AM

Metatrader

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Bitcoin is currently wanting to re-examine the 41820.xx resistance area that was previously broken. If later the price is reject there then he will be able to get more deeper, but if he can break it, it's likely he will be able to rise high again
#26 - May 24, 2021, 08:49:27 PM
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There is a Head and Shoulders Pattern on the BTCUSD weekly chart. The pattern looks to have good clarity to me. This chart was taken from the FxChoice MT4 platform, but it shows on other platforms too.

Support at the neckline is around the $30000 level. I think that if Bitcoin can not stay above $30000 that it will fall very hard long-term. This is a weekly chart, so it could take months to happen.

The target for a Head and Shoulders pattern is from the top of the head to the neckline. This is about $30000 worth in this pattern. So if this pattern fulfills, this could decimate the BTCUSD price because the neckline is around $30000 and the target is also around $30000.

I am not saying I want this to happen, but it is what I see. There could be some event such as a new law or regulation that could cause this big fall in price. I would suggest anyone who has most of their net worth in Crypto to keep an eye on this $30000 neck line level to see if it holds or not.
#27 - June 28, 2021, 03:42:44 PM
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Keylevel

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BTCUSD has the potential to move up based on the daily trend, entry in a small time frame, wait for a pullback


#28 - August 14, 2021, 10:58:46 PM
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Bitcoin (BTCUSD) in Technical_topic=895

Bitcoin has reached strong resistance on the weekly TF. The resistance line goes the whole way back to 2017. So it's very reliable. A strong move downwards is very likely!

Based on previous times this line was tested, Bitcoin could fall 50% or more. However, the 74000-75000 level looks like a good support level. This would be about a 30% drop which is still very significant.

I expect profit taking very soon and short sellers to come in. There could possibly even be global headline news to cause this drop.

Be very careful in buying near the tops. Trade with your brain and not emotions. This is only an idea and anything can happen, but it's a weekly chart and seems very reliable.
#29 - December 16, 2024, 07:00:28 PM
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Bitcoin has fell greatly since my last post. There is another signal on a lower TF which agrees with my last post.

Bitcoin (BTCUSD) in Technical_topic=895

Bitcoin has broke down through an important trend line support level on the 4 hour chart. It is currently in the process of re-testing the line before a continuation down again. It's possible that Bitcoin may gain short-term up to around $100000 before the re-testing is complete. Or it may just start falling like a rock before then.

The trend line was tested multiple times and is a reliable signal of what is to come. This also agrees with my analysis on the weekly chart too. Both charts indicate a potential drop for Bitcoin to around $75000.

Please note: this is a crazy world and anything could happen, but this is my analysis based solely on the chart. I would say the same if it were corn, copper, or whatever else. Be cautious buying Bitcoin anytime soon based solely on hype! As I said above, it could gain short term to re-test the line which is now resistance, but it will probably be short-lived.
#30 - December 21, 2024, 12:44:59 AM
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