{"id":193940,"date":"2023-11-12T01:30:00","date_gmt":"2023-11-12T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=193940"},"modified":"2023-11-11T13:54:38","modified_gmt":"2023-11-11T21:54:38","slug":"bitcoin-towards-rectangle-mm","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/bitcoin-towards-rectangle-mm\/","title":{"rendered":"Bitcoin Direct Towards Rectangle&#8217;s Measured Move and $40000"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Bitcoin Futures<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.cmegroup.com\/markets\/cryptocurrencies\/bitcoin\/bitcoin.html\" data-type=\"link\" data-id=\"https:\/\/www.cmegroup.com\/markets\/cryptocurrencies\/bitcoin\/bitcoin.html\" rel=\"noopener\">Bitcoin <\/a><\/strong>futures are Trading towards a Rectangle Measured Move and $40000. This week, the price closed higher 7.80% respecting the past week&#8217;s low. The Bull Breakout is evident, there are magnets close above that are probably going to be reached. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel.png\" alt=\"Bitcoin towards rectangle&#039;s measured move and $40000. Weekly chart of Bitcoin Futures on November 11th of 2023. \" class=\"wp-image-194070\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Past: Support and Resistances<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The price started a Strong Bear Channel:\n<ul class=\"wp-block-list\">\n<li>Bear Flag\u2019s Breakout Point.<\/li>\n\n\n\n<li>Major Lower High.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Then, failed a Breakout Below a Bear Flag and Reversed up, forming a HSB (Head and Shoulder Bottom) pattern, that broke up:\n<ul class=\"wp-block-list\">\n<li>2022 Low.<\/li>\n\n\n\n<li>2022s Major Higher Low.<\/li>\n\n\n\n<li>2023 Major Higher Low.<\/li>\n\n\n\n<li>HSB Breakout Point<\/li>\n\n\n\n<li>HSB Measured Move around $35750 already reached.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Lately, the price has been sideways creating a Double Top and a Double Bottom, which is a Trading Range, and because the Trading Range was not wide, was also a Rectangle and Breakout Mode Pattern.\n<ul class=\"wp-block-list\">\n<li>Trading Range High.<\/li>\n\n\n\n<li>Trading Range Low.<\/li>\n\n\n\n<li>Measured Move at $39500. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Present: Market Cycle<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The price reached the HSB Measured Move during the past week.<\/li>\n\n\n\n<li>There was some profit taking, since the price reversed down slightly after reaching the Target.<\/li>\n\n\n\n<li>This week, the price closed as a good bull bar, closing above its midpoint and the past week&#8217;s high. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Future: Inertia<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A bull breakout of a Breakout Mode Pattern (the Rectangle) has a 50% chance of leading to a swing trade, which means that the price might go towards $47000.<\/li>\n\n\n\n<li>After this week&#8217;s Bull Bar, the Bull Breakout of the Rectangle (or Breakout Mode Pattern, Trading Range\u2026) it is evident. There is a 60% chance that the price is going to keep Trading higher. <\/li>\n\n\n\n<li>Probably, the price will get to $40000 big round number, where there is a confluence of resistances and hence, it is a magnet. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls:\n<ul class=\"wp-block-list\">\n<li>Some Bulls bought above the Rectangle&#8217;s high (Breakout Mode Pattern).<\/li>\n\n\n\n<li>Others bought a couple of weeks ago, above the first bull bar that closed above the Breakout Mode Pattern.\n<ul class=\"wp-block-list\">\n<li>Stop loss below the past week\u2019s low is also ok<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>There should be buyers below this week&#8217;s low. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Most bulls are placing their stops below the Breakout Mode Pattern. Still, there is a 40% chance that the price will reverse, and bulls might exit below a good bear bar closing around its low.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>They would rather not sell while the price is rising, and they will either wait for a bear signal bar for a failed bull breakout setup.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin1-daily-bull-spike-and-channel-parabolic-wedge-top1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin1-daily-bull-spike-and-channel-parabolic-wedge-top1.png\" alt=\"\" class=\"wp-image-194083\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin1-daily-bull-spike-and-channel-parabolic-wedge-top1.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin1-daily-bull-spike-and-channel-parabolic-wedge-top1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin1-daily-bull-spike-and-channel-parabolic-wedge-top1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin1-daily-bull-spike-and-channel-parabolic-wedge-top1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin1-daily-bull-spike-and-channel-parabolic-wedge-top1-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Past: Support and Resistances<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The price did a Bull Spike (Breakout) and Bull Channel.\n<ul class=\"wp-block-list\">\n<li>Breakout Points are now support. <\/li>\n\n\n\n<li>Bull Spike Low.<\/li>\n\n\n\n<li>Parabolic Wedge Top Low.<\/li>\n\n\n\n<li>20-day Exponential Moving Average (EMA).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Present: Market Cycle<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The current Market Cycle is a Tight Bull Channel, you can also call it a Bull Spike and Channel. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Future: Inertia<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>80% of attempts to reverse a Tight Bull Channel are going to fail; moreover, the price should Trade higher towards resistances.<\/li>\n\n\n\n<li>If there will be a bear reversal, the price will probably transition into a Trading Range first, that means, going sideways for at least 20 days.\n<ul class=\"wp-block-list\">\n<li>Or reach their targets. <\/li>\n\n\n\n<li>Weekly Rectangle&#8217;s Measured Move.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls:\n<ul class=\"wp-block-list\">\n<li>Buying far from the 20-day EMA is hard, most Traders buying high are trading with a small position size and are willing to buy more during a retracement. <\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Bears:\n<ul class=\"wp-block-list\">\n<li>Those willing to sell are not expecting a swing down, but some scalps. For swing bears willing to sell, first, they will wait until there is a Trading Range and a topping pattern.  <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can access all the weekend reports on the <a class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Bitcoin Futures Bitcoin futures are Trading towards a Rectangle Measured Move and $40000. This week, the price closed higher 7.80% respecting the past week&#8217;s low. The Bull Breakout is evident, there are magnets close above that are probably going to be reached. Bitcoin futures The Weekly chart of Bitcoin futures Past: Support and [&hellip;]<\/p>\n","protected":false},"author":7271,"featured_media":194070,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1904,136],"tags":[223,324],"class_list":["post-193940","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-analysis","tag-bitcoin","tag-cryptocurrency","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/bitcoin-weekly-5-bull-micro-channel.png","author_info":{"display_name":"Josep","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/cnjoseluis10gmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/193940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/7271"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=193940"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/193940\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/194070"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=193940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=193940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=193940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}