EliteSignals

Hey guys, It looks like Bitcoin had its little pump from $60K to 64K but now it appears that it can't hold up the price. It keep making lower highs in the short term and the signals look pretty bearish right now. The MACD has a green dot on the daily but all other smaller time frames are rather bearish. Things can get volatile so we might see some pumps and dumps while the price consolidates. This could go on for another month or two yet before we see the price making a clear direction in the upward trajectory in October. I'm looking at Bitcoin falling to $58,500 before we do a bit of sideways action with a positive twist. If you agree with my thoughts please boost and subscribe! When you need to decide. Let your heart be the guide.

Just a quick update after the recent bounce off 60K we should now being looking at $68,000 USD. keep your eyes open for if the price starts to break down then if the signals and price isn't looking good. Then it might be time for a sneaky short.Please subscribe and boost this if you think similarly. Al the best.

The BTC/USD pair is currently navigating through a turbulent period, marked by a clear bearish trend. This analysis dives into the intricacies of Bitcoin’s recent price action, offering traders critical insights into potential future movements.Current Bearish Trend and Symmetrical Triangle FormationBitcoin's price is confined within a descending channel, characterized by parallel lines guiding lower highs and lower lows. This formation has established a strong bearish trend. Adding complexity to this picture is a symmetrical triangle pattern developing within the descending channel. This triangle, formed by converging trendlines from the recent price swings, suggests an impending breakout, although the direction remains uncertain.Critical Levels and Indicators to WatchThe symmetrical triangle indicates that traders should be vigilant for a breakout, either above or below the pattern, to gauge the next significant move. Key levels to monitor include $64,000 on the upside and $58,000 on the downside. A breakout in either direction could signal a strong move, making these levels pivotal for traders.MACD Indicator InsightsThe MACD (Moving Average Convergence Divergence) indicator adds another layer to the analysis. Currently, it shows potential bullish divergence, with recent movements hinting at weakening bearish momentum. This could imply a possible bullish reversal, even within the overarching bearish trend.ConclusionIn summary, the BTC/USD pair's immediate future hinges on the breakout direction from the symmetrical triangle. While the descending channel suggests a bearish outlook, the MACD’s bullish divergence introduces a potential counter-trend scenario. Traders should keep a close eye on the breakout levels of $64,000 and $58,000 to navigate the next phase of Bitcoin's price action effectively.Stay tuned for more updates as Bitcoin's market dynamics continue to evolve.

March 13, 2024 - In a historic surge, Bitcoin surpassed its previous all-time high today, reaching a value of over $73,000. This comes just days after the cryptocurrency broke the $68,900 mark, exceeding its peak from 2022.Analysts offer mixed interpretations of this development. Some view it as a sign of Bitcoin's growing maturity and solidifying its position as a valuable asset. Others express caution, highlighting the cryptocurrency's inherent volatility and the lack of strong fundamental factors driving the recent upswing.This record-breaking price follows a period of significant recovery for Bitcoin. After a major industry slump in late 2022 that saw the price plummet below $17,000, the cryptocurrency has staged an impressive comeback.While the future trajectory of Bitcoin remains uncertain, today's milestone marks a significant moment in the history of the world's leading cryptocurrency.

Hello traders,Here is my daily analysis for Bitcoin. As you can see on the daily chart, we have a very bearish scenario.We have broken the support line that was holding us since July 2021.We have retested the line and failed to break above it with a red candle.We have also broken the 200-day moving average, which is a sign of a long term downtrend.We are now below the $30,000 level, which was a psychological barrier for many investors.What does this mean?It means that we are in a new bear market for Bitcoin, and we can expect lower prices in the future.It means that we should look for selling opportunities on every bounce, and use a trailing stop loss to protect our profits.It means that we should be careful of short term rallies or volatility, as they are traps and fakeouts in a bear market.What are the targets?The first target is the previous low at $18,000, which is a very realistic and achievable goal.The second target is the 1.618 Fibonacci extension at $12,000, which is based on the length of the previous bear market from 2017 to 2019.The third target is the 2.618 Fibonacci extension at $6,000, which is a more pessimistic and extreme goal, but not impossible.How to trade?The best way to trade this scenario is to sell Bitcoin on every bounce, and use a trailing stop loss to protect your profits.You can also use leverage to increase your returns, but be careful and manage your risk properly.You can also diversify your portfolio by investing in other cryptocurrencies that follow Bitcoin’s trend, such as Ethereum, Litecoin, Ripple, etc.Happy trading! 😊

Bitcoin, the flagship cryptocurrency, has been on a wild ride this year. After starting 2023 at lows of around $16,500, it has recently soared to a 1-year high of approximately $31,000. This tremendous price action has sparked renewed interest in the digital asset among traders and investors alike. However, the volatility associated with these dramatic price swings also brings with it a unique set of challenges and opportunities. Here's a closer look at Bitcoin's recent price action from a trader's perspective.## The Rollercoaster RideBitcoin's swift recovery from its lows at the start of the year to its recent highs is indicative of the asset's notorious volatility. This is a double-edged sword. On one hand, such volatility provides ample opportunities for traders to capitalize on price swings. On the other hand, it also poses immense risks.The individuals who purchased Bitcoin in January of 2023 have experienced a near doubling of their initial investment value in just six months. However, the rapid appreciation isn't without its anxieties. The fear of a potential pullback, given the historical precedents, is a constant companion.## Fixed Supply: A Blessing or a Curse?Bitcoin's fixed supply of 21 million coins is often cited as a key attribute that sets it apart from traditional currencies, which can be printed in unlimited quantities by central banks. The fact that a significant number of Bitcoin are lost forever due to forgotten passwords is believed to render the coins in circulation even more valuable. However, this reasoning has been contested.Value or price isn't necessarily a function of supply and demand as much as it's a speculation about the price a market good is expected to fetch in the future. If a soaring price were as simple as limiting supply, then stock-market laggards would simply engineer reverse splits to juice their valuations - yet this often achieves very little in the process.## Bitcoin: Many Things, but Not MoneyBitcoin's inability to maintain a stable value raises questions about its viability as a form of money. Money, in its traditional sense, serves as a medium of exchange, a unit of account, and a store of value. It is generally expected to maintain a relatively stable value over time.However, Bitcoin's extreme price swings undermine its ability to serve these functions effectively. The risks associated with accepting Bitcoin in exchange for goods and services are significant. Those who do so risk seeing the value of their received Bitcoin plummet in a short time span. The same volatility that attracts traders to Bitcoin could, ironically, limit its broader adoption as a form of money.## The Future of BitcoinIn a growing economy, the money supply tends to grow along with the production of goods and services. If Bitcoin's creators had desired it to function as real money, they might have launched it with a fixed price, rendering its supply effectively limitless.Bitcoin's fixed supply is touted as its unique selling point, but this very characteristic could be its Achilles heel. Good money is valued not because it's scarce, but because it's seen as a stable measure. And what's stable as a measure can't be overproduced. Bitcoin's very existence challenges traditional notions of what money is, and its future will likely continue to stir debate.In conclusion, Bitcoin's recent price action underscores both the potential rewards and the inherent risks associated with trading this volatile digital asset. Traders must remain aware of these dynamics as they navigate the turbulent waters of the cryptocurrency markets.

The current market sentiment for Bitcoin is overThewhelmingly optimistic. Several bullish indicators have been activated, and market conditions appear to be aligning for a potentially significant surge in market value. For those who have already established a position, this is an exciting time.If you haven't yet entered the market, now may be a good time to consider doing so. Bitcoin's price is currently trending upward, and it's likely that this trend will continue for the foreseeable future. However, it's important to remain vigilant and prepared for potential market fluctuations.As with any investment, there is always a level of risk involved, so it's important to make sure you're comfortable with the potential downside before entering any positions. Additionally, it's important to stay up-to-date on market trends and indicators to ensure you're making informed decisions about your investment.In conclusion, the outlook for Bitcoin is promising, and those who position themselves properly could stand to make significant gains in the near future. However, it's important to be mindful of potential risks and prepare accordingly. Good luck with your investment!

So who was long? Alot of people put their longs in before the dump. Even Crypto Face. How many times does this have to happen before we learn that we are still in a bear market BUT near the end. It didn't break above the top purple line and was getting bearish fast. That's what you have to look out for in situations like this. We knew it was about to do something. So we wait until that thing starts happening and we go with it. It's like catching that perfect wave. Just have to patient but ready, quick and vigilante about it all. The Four hour was bullish af BUT the smaller times were a bit in doubt. So when in doubt.. so you think what might happen in high hopes and go with your feelings and emotion but get rekt. Every time. The big pumps will come.. for a merry Christmas? Who knows But they will come. Don't get discouraged by getting broken down. The green days are close. Best of luck. 👍

Keep a close eye on the chart for a bounce back down (most likely) OR get ready for a Mega pump to who knows where? Look out for big weekend moves. In the next 12 hours we could see a good move either way. Get in early. Let me know what your up to with your trades. Cheers. Good luck. 👍

Just a quick heads up of my observations.. No chart plotting for this one. Just want you to be aware of the 4 Hour MACD Volume Divergance which is in effect right now. The Daily is in a pretty bad state but smaller charts are just showing bullish signs but that might not be for long and we could easily go back down to recent levels. Best of luck 👍