CountOnCrypto

Greetings TradingView, I'd like to present to you the latest short trade I am personally taking. We experienced a Swing Failure Pattern ( SFP ) below the previous daily low as well as the Value Area Low ( VAL ) a few hours ago. During this price action, I opened a long with my stop loss just before the 0.66 Fibonacci retracement zone which is part of the golden pocket. For now, I am measuring the speed of the move based on how price action reacts at the Fibonacci Speed Resistance Fans as well as the point of control and other Fibonacci golden pocket above the Point of Control ( POC ). A break above the Value Area High ( VAH ) would insinuate we are going to retest the highs, the previous being the Previous Monthly Volume Weighted Average Price ( pmVWAP ) . This is a major resistance level, and breaking above it/ retesting it for the third time would be extremely bullish. In conclusion, my take profit target resides below the other Fibonacci golden pocket which correlates with lows of the previous range in addition to the 111-day moving average which is pivotal based on the Pi Cycle indicator. My stop loss is at the point of invalidation for this trade where I will look to long lower.This is a long position and the "short" in the description is a typo.Trade active on the 4th of August, long from 22,586 on 2.3x leverage.

Hello TradingView 2022, I'd just like to share my long idea with you. Bitcoin retested the daily naked point of control, this poses as an opportunity to open a long position, to correctly manage your risk you should use a stop loss below the invalidation point which is below 40k. This level is a major S/R level which we've managed to stay above following the SFP on the 10th of January. Secondly, assuming we are in a range between the previous local high and the previous low then we can assume price action will naturally gravitate towards the point of control. This is found at around 47k and is my price target. We can expect to find some resistance at the marked levels on the chart including the golden ratio of a Fibonacci retracement I drew from the previous range.Currently in a Long position, the entry point is open again.Stop reached, trade closed.

Good morning ladies and gentlemen, wish yourselves a merry Christmas and don't spend too long lurking on TradingView today! My current thoughts on bitcoin are as follows; I'm expecting a retracement in the short term towards the point of control of this range which is shown by the red horizontal line below the .382 Fibonacci retracement zone (49k). This is a bounce or break area and if it breaks then the next level I'm expecting us to find support is around 47.9k which was previously resistance turned support. Coincidentally, that level is in confluence with the golden pocket on my local Fibonacci retracement. If the 45.5k support level we formed a double bottom and bounced from doesn't hold then my downside target for bitcoin in the short-mid term is the lower golden pocket at 41.5k-41.2k. The other scenario I'd imagine happening is we hold this current level of 50k, we've clearly found some support here in the short term and there's a lot of liquidity so it's likely we have a break out during next week towards the resistance around 53.5k. We can expect low volatility and low volume over this Christmas weekend as institutional trading will be at a low as well as the rest of the market celebrating Christmas. In the midterm, if we continue moving towards the upside; my next target will be the 55.8-56k level which is also a golden pocket and in confluence, with the clear support we found during the end of November, early December turned resistance..382 Fibonacci retracement level has clearly acted as a support level during the early hours of the morning.Price retraced from the support level up to the resistance/ top of the Fibonacci retracement. I expect a correction to the downside will be coming shortly.Price retraced to the downside after rejecting the resistance in the top of the local range, so far it has found support at the .5 Fibonacci ratio which is the equilibrium of the range.Downside target reached.Nearly hit the golden ratio Fibonacci target of 41.5k - 41.2k. Ready to buy the dip soon!If the retracement zone (golden ratio) at 41.5-41.2k holds then we can expect a bounce towards the bottom of the previous range (previously support) at 45k; as this was a previous level of support, we can expect resistance at this level.

My downside targets for bitcoin include the previous all-time high of December 2017 at 20k being the lowest I'm expecting Bitcoin to go, the level of psychology here would mean that many people will have lost confidence in the market due to the bearish sentiment. The key to this is 42k if the .66 Fibonacci retracement zone doesn't hold then 37.7k will be the next level I'm expecting us to go down to. I'm going to be watching the CBOE volatility index closely, the definition on Investopedia is "it generates a 30-day forward projection of volatility. Volatility, or how fast prices change, is often seen as a way to gauge market sentiment, and in particular the degree of fear among market participants." This will be the key to identifying an incoming big move, evidence of this can be found during May 2020. I'm expecting big profit takings to occur on the entirety of the market, stock, crypto. For more information on the volatility index, checked the linked related idea below.Bitcoin has come up to the .5 Fibonacci ratio at 48.8k which is a level of resistance currently.The current expanding falling wedge that's playing out on smaller timeframes; has formed a local double top.

A very simple chart to just share which upside levels I'm looking at if this uptrend continues, retrospectively if we start down-trending I'll be looking towards the lower Fibonacci retracement levels as support. In this case, I will also likely draw a new Fibonacci retracement considering the current nearby price levels as a top. I also think if we don't break out then there's a lot of liquidity at the golden pocket 0.66 - 0.618 Fibonacci retracement and that'll be a bounce or break situation for bitcoin. The upside targets are untapped daily/weekly/monthly levels from when we were previously at those highs. It's towards these levels I will expect altcoins will also be performing very well, it's likely people will spend their bitcoin profits on altcoins in order to attempt at additional gains. I am personally long on the market in terms of Bitcoin, Ethereum and altcoins and I'll be looking forward to potential profits over the coming months. Historically December has been a great month for crypto in general; a prime example being the 2017-2018 bull run, December saw new all-time highs once thought to be a dream for Bitcoin.

I think if bitcoin breaks below 47.7k then we'll retrace to the previous daily low on the 20th of August which is around 46.6k. I'm also going to be watching the 200-day moving average, a break below this level would signify further bearish price action. I'm optimistic as of now as the price is within the golden pocket (CC level) on the Fibonacci retracement, we bounced off the .618 as a level of support in the previous candle which is a level that acted as resistance on the 14th and 16th of August. Resistance becomes support and vice versa when the level breaks, we can expect the levels to also be respected. In terms of a price target, the.768 Fibonacci retracement is the next logical upside target; before we get to that level we will cross over a logarithmic growth curve, it's a good idea to remember this could act as a level of resistance so keep an eye on it. Please remember to do your own research before risking any money on the market, trading comes with high risk when done with beginner's experience and without knowledge of technical analysis.Long entry met.

Bitcoin is currently maintaining the 200-day moving average, this is displayed but on the 6h so I can monitor price action more closely. The price of bitcoin bounced off the .382 Fibonacci retracement level twice, first on the 7th of August and the second time on the 9th of August. This level was previously acting as resistance on the 31st of July and 1st of August. Whilst below the 200-day moving average it seemed the price of bitcoin would likely dump but once the trend broke on the 6th of August the 200-day moving average was a close target for me. Since we have shown strength by reclaiming the mentioned Fibonacci retracement level as well as breaking the long-term downtrend and rising above the 200-day, I am expecting the next move of bitcoin is to 46.8k which is the .5 Fibonacci retracement level. Finally, there is a bearish divergence on the stochastic rsi, this is more prominent on the 12h and daily timeframe but I have marked it out on the 6h included in this idea. Although the bearish divergence is a sell signal I believe that we have maintained the 200-day which should be enough to bring the price up to the next level. If we break below the 200-day then it would suggest we are in for a trend reversal. As of now, I believe the previous points I have mentioned outweigh this bearish divergence and therefore I am bullish on the price of bitcoin. Make sure to trade safely and use a stop loss, don't enter the market if you haven't researched your own strategy and put it into practice. Trading with leverage can be extremely risky if done incorrectly and cause loss of funds.

Hello and welcome, firstly I'd like to state that my opinions should not be taken as investment advice; this is only an expression of my opinion via a TradingView idea. My analysis is based on several trendlines, these have been drawn from the 2017-2018 bull run from the top of the previous resistance through different levels of identified support and resistance in the recent months and in-between. So now, a complete rundown on the levels in the form of bullet points to both simplify my thoughts and give readers a better understanding of my theory and practice. Blue - represents the mean of the trend, this takes us down to around 5k. Red - a major level of resistance turned support, this was highly significant during the start of 2021 as once this level broke it led to a parabolic rise in bitcoin's value. This is around 20k. Yellow - a level of resistance turned support, there was a large amount of liquidity in December around the 23rd in this area which is displayed by the way the price was respected until it broke above with large amounts of volume. Orange - a major support level which we tested around the end of January 2021, we had recently come back down to this level as speculated by many people including myself. Bitcoin holding this level meant that it was still showing signs of strength but as I am typing we have broken below and it appears this level has become a level of resistance. Purple - this trendline is drawn through both the top of the 2021 bull run and the previous high in December 2017, I have included it as it gives me an idea of where bitcoin may go in the future. Finally, the 200-day moving average (yellow) and the 50-day moving average (purple) show the death cross on the 18th of June 2020. This is an event where the 50 day MA crosses under the 200 day MA signifying an expected sell-off in the coming weeks and months following. The opposite of this is a golden cross, you can see an example of this on the 20th May 2020 where soon after Bitcoin began its rally up to new all-time highs. I am personally accumulating both bitcoin and ethereum now, I also trade the spot value and sell the difference for profit in stablecoin, specifically USDC . I will be using this to buy in lower which I expect to come in the next few weeks and months, Based on the levels I have identified and the trendlines I have drawn, it gives me a clear plan and also clarity on where to expect support and resistance.