Retracement will finally happen

[Dragonfund]

This is already given, the level of $20,000 is now the strong level. As on the peak of the bull run 2017-2018, the peak was around nearly $20,000.
So for now, I can consider it as a significant level because look when after we break that level this year, it's always now above $20,000 and that level is now acting as a support.

We quickly forgot that nothing is too strong to break below or above. If we think back to the FTX crash, when the market was dumping extensively on roller coasters and there was no support or resistance because of innumerable fears, we suddenly forgot all of that and turned bullish once more. Some were predicting $40k before June, but they all forgot that users have yet to see the thousands and hundreds of people who are still stuck on FTX. When the FTX continue case in court, many altcoins people have invested in end up not breathing again, the same $20k may be easily shattered.

[1715658553]

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[DevilSlayer]

Price don't go straight line, as a trader we should expect a bounce or a retracement after a great momentum.

Even though that the price will finally retrace, it only means a good movement for BTC because it will only confirm that we are already in bullish. The chart of bitcoin is now creating higher highs and finally it will create a higher low. We should keep in mind that having a good risk management can help us to entry better and avoid cutting huge losses. Expect a red days in these coming days

The retracement finally came, I started to anticipate it back in January because the price is resisting in the Major Resistance above. The sellers overcome the buyers and the supply is much higher than in demand that is why we see a massive pullback. This is only validating that the price of bitcoin is making a healthy movement because it needs consolidation for the bitcoin to breakout the Major Resistance around $25,000.

We are currently experiencing red days in these past days but is it good or bad? As you can see in the weekly time frame below, the price is nowo in the major support where it is considered as buyer side. Which only means that there is a high possibility that the price will bounce in this area. If the price bounce in this area then the movement of the bitcoin is very healthy and we can a upward movement in the following days if this happen. Right now, I'm planning to entry to get as much as position in the major support for me to not be miss out.

Happy trading and Goodluck

This is the weekly time frame of the bitcoin:


This is the daily time frame of the bitcoin:

[Zilon]

That is why i prefer Elliot wave as a strategy when dealing with trending markets. For every impulsive wave there is a correction wave awaiting to oppose the larger trend. Despite the retracement move the market is still keeping up with a higher high uptrend. I guess $19k will form a very strong support for a good buying opportunity.

[Xampeuu]

Price don't go straight line, as a trader we should expect a bounce or a retracement after a great momentum.

Even though that the price will finally retrace, it only means a good movement for BTC because it will only confirm that we are already in bullish. The chart of bitcoin is now creating higher highs and finally it will create a higher low. We should keep in mind that having a good risk management can help us to entry better and avoid cutting huge losses. Expect a red days in these coming days

The retracement finally came, I started to anticipate it back in January because the price is resisting in the Major Resistance above. The sellers overcome the buyers and the supply is much higher than in demand that is why we see a massive pullback. This is only validating that the price of bitcoin is making a healthy movement because it needs consolidation for the bitcoin to breakout the Major Resistance around $25,000.

We are currently experiencing red days in these past days but is it good or bad? As you can see in the weekly time frame below, the price is nowo in the major support where it is considered as buyer side. Which only means that there is a high possibility that the price will bounce in this area. If the price bounce in this area then the movement of the bitcoin is very healthy and we can a upward movement in the following days if this happen. Right now, I'm planning to entry to get as much as position in the major support for me to not be miss out.

Happy trading and Goodluck

This is the weekly time frame of the bitcoin:


This is the daily time frame of the bitcoin:

for traders, taking advantage of the major support area can be used as an opportunity to buy, and technically speaking there will be a reflection in the support area that you are drawing, and we can place the maximum profit target in the major resistance area, and of course we have to place a stop loss to anticipate when the market goes not according to plan, but again we don't know in the medium term or long term whether it will continue to rise, or even fall back.

[DevilSlayer]

We are currently experiencing red days in these past days but is it good or bad? As you can see in the weekly time frame below, the price is nowo in the major support where it is considered as buyer side. Which only means that there is a high possibility that the price will bounce in this area. If the price bounce in this area then the movement of the bitcoin is very healthy and we can a upward movement in the following days if this happen. Right now, I'm planning to entry to get as much as position in the major support for me to not be miss out.

Happy trading and Goodluck

Mini Update March 13, 2023

Does my prediction is correct again? take time to read my past updates on my analysis regarding the price and the movement of the bitcoin. I said that it is considered as healthy move that the price retrace on the level of $20,000. I also mention that I'll get as much as position becauseu the price is currently at the major support. Luckily, I followed my plan and I have big positions in a lot of coins and I'm currently 30% up in my total portfolio.

A lot of people got scared because of the retracement of the bitcoin, it only shows that they do not fully understand the psychology and market sentiment. As for my next prediction, the price of the bitcoin will consolidate and eventually break the $25,000. Take note that it is really good time to acquire positions in the consolidation level so guys good luck and happy trading again! If you want to make money then consider my analysis but also make sure to have good risk management and solid plan.

The current weekly chart as of now:


The current daily chart as of now:

[Wind_FURY]

We are currently experiencing red days in these past days but is it good or bad? As you can see in the weekly time frame below, the price is nowo in the major support where it is considered as buyer side. Which only means that there is a high possibility that the price will bounce in this area. If the price bounce in this area then the movement of the bitcoin is very healthy and we can a upward movement in the following days if this happen. Right now, I'm planning to entry to get as much as position in the major support for me to not be miss out.

Happy trading and Goodluck

Mini Update March 13, 2023

Does my prediction is correct again? take time to read my past updates on my analysis regarding the price and the movement of the bitcoin. I said that it is considered as healthy move that the price retrace on the level of $20,000. I also mention that I'll get as much as position becauseu the price is currently at the major support. Luckily, I followed my plan and I have big positions in a lot of coins and I'm currently 30% up in my total portfolio.

A lot of people got scared because of the retracement of the bitcoin, it only shows that they do not fully understand the psychology and market sentiment. As for my next prediction, the price of the bitcoin will consolidate and eventually break the $25,000. Take note that it is really good time to acquire positions in the consolidation level so guys good luck and happy trading again! If you want to make money then consider my analysis but also make sure to have good risk management and solid plan.

The current weekly chart as of now:


The current daily chart as of now:

When, do you predict, will that eventuality for Bitcoin to break $25,000? Will it be in two or three months? Because for me, while it's possible that your prediction will happen in two or three months, I believe Bitcoin might go touch $16,000 again because of bearish macro-economic conditions around the world. BUT if we zoom out to the maximum, it's an easy prediction that eventually, Bitcoin will surge over $25,000. Especially a few months before the halving.

[DevilSlayer]

March 06, 2023 MINI UPDATE.

It can be a good sign that there's something is cooking. We can only be invalidated if the Major support will not hold. Expect a bull run if the price of the bitcoin breakouts in the Major Resistance especially in $25,000.

As you can see in the weekly time frame below, the price is nowo in the major support where it is considered as buyer side. Which only means that there is a high possibility that the price will bounce in this area. If the price bounce in this area then the movement of the bitcoin is very healthy and we can a upward movement in the following days if this happen. Right now, I'm planning to entry to get as much as position in the major support for me to not be miss out.

March 17, 2023 Mini Update

Does Anyone followed my advice? If yes then I want to congratulate you! My past analysis are all correct, you can read all of my past replies for proofs because all of my bias did happened. It is really good that I got a lot of position during the consolidation level of the Bitcoin. Like what I said, it is normal for the price of the bitcoin to consolidate inside the support and resistance in the weekly timeframe and now this is what I'm waiting for wherein the bitcoin will break the $25,000 Major Resistance level which is considered as a boss resistance. It is literally a boss level resistance because this is where the seller side and finally the Price surpassed it.

What does this Mean? It only means that we are now in Bull Run. I'll give my analysis again and it is up to you guys if you follow it or not. Buy now because there will a huge upward momentum that will happen in these following days and weeks. Make sure that you have a good risk management and pre define risks consisting of entry point, cut loss, tp, trail stop and a lot of scenarios in your head. Anything can still happen so my bias may still be invalidated.

If you miss out my past advices then start taking full responsibility. The opportunities and rewards in the market are so great so you must be prepared if you have knowledge and basic skills in trading.


Good luck and happy trading again!

Current Price of the weekly timeframe:



Current Price of the daily timeframe:

[dansus021]

Will be Hard to touch 32K level without a correction first I will share mine

Currently, bitcoin is testing 200 EMA on the weekly chart we need a day before it close when it closes above 200 EMA I think we have good bullish.

[borovichok]

We quickly forgot that nothing is too strong to break below or above. If we think back to the FTX crash, when the market was dumping extensively on roller coasters and there was no support or resistance because of innumerable fears, we suddenly forgot all of that and turned bullish once more. Some were predicting $40k before June, but they all forgot that users have yet to see the thousands and hundreds of people who are still stuck on FTX. When the FTX continue case in court, many altcoins people have invested in end up not breathing again, the same $20k may be easily shattered.

FTX was an altcoin with full access from traders in the market. It's very possible for altcoins to crashed in the space, after all they're all liable to liquidity, the trading volume is very crucial and holders of FTX were frustrated when the coin they put their hope in dump heavily, some the top investors reciprocated the action in sueing the CEO of FTX to court inother to triggered justice to their tragic moments and lost funds. Well, I'm not surprised by their actions because most of these altcoins project ends up as scammed and defrauding their investors of their hard earn money. That same case happen to Luna because of the crashed, the CEO of Luna, Do Kwon was sued for fraud charges, so let's see where this terrible situation leads us.

[Baofeng]

This is already given, the level of $20,000 is now the strong level. As on the peak of the bull run 2017-2018, the peak was around nearly $20,000.
So for now, I can consider it as a significant level because look when after we break that level this year, it's always now above $20,000 and that level is now acting as a support.

We quickly forgot that nothing is too strong to break below or above. If we think back to the FTX crash, when the market was dumping extensively on roller coasters and there was no support or resistance because of innumerable fears, we suddenly forgot all of that and turned bullish once more. Some were predicting $40k before June, but they all forgot that users have yet to see the thousands and hundreds of people who are still stuck on FTX. When the FTX continue case in court, many altcoins people have invested in end up not breathing again, the same $20k may be easily shattered.

True, but it might take some time before we can finally break it, case in point $25k, yeah we did breach it several times already but we even didn't maintain that price for even in a 1 hour timeframe as speculators keeps on selling at that price for obvious reasons of making profits. However, it's not that strong because in the last couple of days, we again reach that price and then we maintain it for good or at least at this rally. So it means the resistance is now the support line that we are holding. $27k and it will as well be as interesting as the week will start in the next 24 hours (at least Asian Time), and we might see some push to $28k. So let's see if this is going to happen or we might have to go back and retrace.

[LUCKMCFLY]

This is already given, the level of $20,000 is now the strong level. As on the peak of the bull run 2017-2018, the peak was around nearly $20,000.
So for now, I can consider it as a significant level because look when after we break that level this year, it's always now above $20,000 and that level is now acting as a support.

We quickly forgot that nothing is too strong to break below or above. If we think back to the FTX crash, when the market was dumping extensively on roller coasters and there was no support or resistance because of innumerable fears, we suddenly forgot all of that and turned bullish once more. Some were predicting $40k before June, but they all forgot that users have yet to see the thousands and hundreds of people who are still stuck on FTX. When the FTX continue case in court, many altcoins people have invested in end up not breathing again, the same $20k may be easily shattered.

True, but it might take some time before we can finally break it, case in point $25k, yeah we did breach it several times already but we even didn't maintain that price for even in a 1 hour timeframe as speculators keeps on selling at that price for obvious reasons of making profits. However, it's not that strong because in the last couple of days, we again reach that price and then we maintain it for good or at least at this rally. So it means the resistance is now the support line that we are holding. $27k and it will as well be as interesting as the week will start in the next 24 hours (at least Asian Time), and we might see some push to $28k. So let's see if this is going to happen or we might have to go back and retrace.

What happens in these cases is that if it goes up to $28k it can continue to rise, because the whales are testing the resistance levels, if they see that there is resistance at $28k they will not continue to make the market rise, they already know that at At that level the offer is much greater, therefore they will start selling quickly to compensate for the effort they have made, this is what they do, try, in the Wyckoff method they explain it very well, as effort, and what they are capable of doing the bulls, this is like a jungle where you have to act fast and get your money back and obviously have some profit.

[dansus021]

The Major resistance is so strong, the sellers overcome the buyers that is the reason why we saw a red market in these past days.

Yes that is why this is called "major"  Especially happen on a weekly timeframe.

In my opinion, the price need to be rejected first and need a little bit of correction before destroying another resistance and btw I will share an update the price already stay above 200 ema long term trend of bullish is come

[ashmodeus]

well ,really appreciate your info guys , but i hear silk road btc is ready to dumped in market,how u guys think about that ? approximately 51k btc in total to be dumped on this year, do u think that will make we go to range under 19k again ?

[andriarto]

The Major resistance is so strong, the sellers overcome the buyers that is the reason why we saw a red market in these past days.

Yes that is why this is called "major"  Especially happen on a weekly timeframe.

In my opinion, the price need to be rejected first and need a little bit of correction before destroying another resistance and btw I will share an update the price already stay above 200 ema long term trend of bullish is come

in your weekly market picture it is clear that the candle has penetrated the 200 EMA, and that means there will be a bullish trend for the next move, but before that there might be a correction first. and the biggest correction that is likely to occur is at the EMA with a purple line, around $24K - $25K, I think that area will be great to buy, if it doesn't reach that support, maybe after this it will continue the uptrend. Of course all of these are just predictions, but what is clear is that I have prepared a buying area scenario to welcome the real bullish season

[dansus021]

in your weekly market picture it is clear that the candle has penetrated the 200 EMA, and that means there will be a bullish trend for the next move, but before that there might be a correction first. and the biggest correction that is likely to occur is at the EMA with a purple line, around $24K - $25K, I think that area will be great to buy, if it doesn't reach that support, maybe after this it will continue the uptrend. Of course all of these are just predictions, but what is clear is that I have prepared a buying area scenario to welcome the real bullish season

You are correct. We need correction I hope just bounce back from 200 EMA. The purple Line is 100 EMA and those are now support and yes I think its good time to buy more when it touch purple line and I also hope price will bounce back from there and continue rise till fibbonaci 0.5 If the price rise and stable above 0.5 we good to continue the bull

[justdimin]

in your weekly market picture it is clear that the candle has penetrated the 200 EMA, and that means there will be a bullish trend for the next move, but before that there might be a correction first. and the biggest correction that is likely to occur is at the EMA with a purple line, around $24K - $25K, I think that area will be great to buy, if it doesn't reach that support, maybe after this it will continue the uptrend. Of course all of these are just predictions, but what is clear is that I have prepared a buying area scenario to welcome the real bullish season

You are correct. We need correction I hope just bounce back from 200 EMA. The purple Line is 100 EMA and those are now support and yes I think its good time to buy more when it touch purple line and I also hope price will bounce back from there and continue rise till fibbonaci 0.5 If the price rise and stable above 0.5 we good to continue the bull

That is only valid if we stay like this, so that we can trace back a bit and go back up again in the future. However, if we have a skyrocketing increase, a huge breakout, then we won't be needing it because that would also mean that it will change completely and we will have a different outlook.

Remember this is bitcoin we are talking about and that is why it's quite important to always have some sort of understanding where it's going and just a few rich whales could change it quickly. Get all those rich people at the top, bill gates, Jeff Bezos, Elon Musk, whatever you want, to say a few good things about bitcoin, and all the EMA calculations would be gone out the window.

[dansus021]

That is only valid if we stay like this, so that we can trace back a bit and go back up again in the future. However, if we have a skyrocketing increase, a huge breakout, then we won't be needing it because that would also mean that it will change completely and we will have a different outlook.

Remember this is bitcoin we are talking about and that is why it's quite important to always have some sort of understanding where it's going and just a few rich whales could change it quickly. Get all those rich people at the top, bill gates, Jeff Bezos, Elon Musk, whatever you want, to say a few good things about bitcoin, and all the EMA calculations would be gone out the window.

Also, true such a big event or good news can pump the price Bitcoin without correction. as always fundamental first no matter how smart you are on technical analyst the winner is the news or fundamental analysis.

Before do Technical Analysis is always better to do Fundamental Analysis. Good Luck everyone

[omgitsmehehe]

That is only valid if we stay like this, so that we can trace back a bit and go back up again in the future. However, if we have a skyrocketing increase, a huge breakout, then we won't be needing it because that would also mean that it will change completely and we will have a different outlook.

Remember this is bitcoin we are talking about and that is why it's quite important to always have some sort of understanding where it's going and just a few rich whales could change it quickly. Get all those rich people at the top, bill gates, Jeff Bezos, Elon Musk, whatever you want, to say a few good things about bitcoin, and all the EMA calculations would be gone out the window.

Also, true such a big event or good news can pump the price Bitcoin without correction. as always fundamental first no matter how smart you are on technical analyst the winner is the news or fundamental analysis.

Before do Technical Analysis is always better to do Fundamental Analysis. Good Luck everyone

Bitcoin is known for its high volatility and one will not be able to predict what will be the outcome of Bitcoin in the next few days, bit with proper technical analysis, there will be a retracement but all this doesn't matter because whenever there's strong trends in the market, Bitcoin will always tends to move to it's direction. Top whales in the market already knows the essential spots to hit inother to turn bitcoin tot their favour. They're whales and they control the market with their high capital. Let's just be on the right track whenever bitcoin is triggering the bull or bear moves.

[bitgolden]

Bitcoin is known for its high volatility and one will not be able to predict what will be the outcome of Bitcoin in the next few days, bit with proper technical analysis, there will be a retracement but all this doesn't matter because whenever there's strong trends in the market, Bitcoin will always tends to move to it's direction. Top whales in the market already knows the essential spots to hit inother to turn bitcoin tot their favour. They're whales and they control the market with their high capital. Let's just be on the right track whenever bitcoin is triggering the bull or bear moves.

I would guess that whales could take it wherever they want to when there isn't any type of big deals at the current situation and we shouldn't be really considering it as a problem neither. I know that it is not going to end up with crazy numbers, like 50k or 10k anytime soon, those are gone and not going to happen anytime soon.

However, whales could take it to under 25k maybe or over 30k, those are still reliable numbers and I would understand that it would be something that could work for everyone. Whales can do that, they have the power to do it and charts wouldn't matter in that case if they do it, which is why I doubt that it will be an issue.

[DevilSlayer]

March 06, 2023 MINI UPDATE.

It can be a good sign that there's something is cooking. We can only be invalidated if the Major support will not hold. Expect a bull run if the price of the bitcoin breakouts in the Major Resistance especially in $25,000.

As you can see in the weekly time frame below, the price is nowo in the major support where it is considered as buyer side. Which only means that there is a high possibility that the price will bounce in this area. If the price bounce in this area then the movement of the bitcoin is very healthy and we can a upward movement in the following days if this happen. Right now, I'm planning to entry to get as much as position in the major support for me to not be miss out.

March 17, 2023 Mini Update


What does this Mean? It only means that we are now in Bull Run. I'll give my analysis again and it is up to you guys if you follow it or not. Buy now because there will a huge upward momentum that will happen in these following days and weeks. Make sure that you have a good risk management and pre define risks consisting of entry point, cut loss, tp, trail stop and a lot of scenarios in your head. Anything can still happen so my bias may still be invalidated.

April 06, 2023 Mini update

for those who are new to this thread, kindly read my past predictions and analysis wherein, all of my bias happened. These will be my predicitions and analysis for the weekly and the daily time frame of the bitcoin. As I say before, we already in the beginning of bull run but first let's give some insight on what is bull run and why it is important for us to acquire positions as much as we can in the beginning of it. Basically thte prices of different assets during bull run are keep increasing like a stairway leading to the top, the probability of making money is really high so for me it is the best time to acquire different assets like bitcoin.

There was a major breakout that happened last month and it is the signal wherein we are approaching a good market in this year. The major resistance is at $25,000 and the BTC finally surpassed it and not it became a major support wherein there is a high probability that the price of the bitcoin will hold in these following weeks or even month.

Let's go to my bias and prediction, the next major resistance will be at $32,000, there is already a confirmation that the price is now supporting at the current major support level. It is a signal that we should acquire position before the next momentum goes up.

Get as much as position that you can between the price $27,300 - $28,800. It is the consolidation level wherein it is considered as the best time to acquire bitcoin as for today. I'll update this thread again once the price of the bitcoin reached the new resistance level at $32,000.

Goodluck and Happy Trading!


Price of the bitcoin in weekly time frame:



Price of the bitcoin in daily time frame: