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BTC Chart AnalysisAnalysis and Outlook The BTC/USDT chart reflects a strong bearish trend. The price has been consistently making lower highs and lower lows, confined within a descending channel. The failure to hold above the 0.618 Fibonacci retracement level indicates potential further downside. BINANCE:BTCUSDT Bearish Scenario BTC fails to hold the 0.618 Fibonacci retracement level, we could see a decline towards the 50,000 USDT psychological support and further down to the 0.786 Fibonacci retracement level around 48,000 USDT.The 200-day EMA at 58,211.08 USDT will act as a strong resistance, and unless the price breaks above this level, the bearish sentiment is likely to persist. Bullish Scenario For a bullish reversal, BTC needs to break above the 200-day EMA and the upper boundary of the descending channel around 65,000 USDT. Sustained movement above these levels could shift the trend back to bullish, targeting higher Fibonacci levels and previous highs. Conclusion Currently, BTC is in a bearish phase with key supports being tested. Traders should watch the 0.618 Fibonacci level and the 200-day EMA for potential signs of reversal or further downside. Risk management is crucial in this volatile phase, with stops placed below key support levels to manage potential losses
Long
by ravirajapaksha
Bitcoin Price Fails to Recover Above $62,500 Resistance ZoneBitcoin price failed to recover above the $62,500 resistance zone. BTC is showing bearish signs and might decline again below the $60,000 support. Bitcoin started a recovery wave above the $61,200 zone. BTC even attempted a move above the $62,000 resistance zone. However, the bears were active near the $62,500 zone. A high was formed at $62,454, and the price is now moving lower. There was a move below the $61,500 level. The price declined below the 23.6% Fibonacci retracement level of the upward move from the $58,448 swing low to the $62,454 high. Bitcoin price is trading below $62,000 and the 100-hour simple moving average. There is also a major bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair. The price is now stable above the 50% Fibonacci retracement level of the upward move from the $58,448 swing low to the $62,454 high. If there is another increase, the price could face resistance near the $61,500 level. The first key resistance is near the $61,850 level and the trend line. The next key resistance could be $62,000. A clear move above the $62,000 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $62,500 resistance. Any more gains might send BTC toward the $63,500 resistance in the near term. If Bitcoin fails to climb above the $62,000 resistance zone, it could start another decline. Immediate support on the downside is near the $60,450 level. The first major support is $60,000. The next support is now forming near $59,500. Any more losses might send the price toward the $58,500 support zone in the near term. Short-Term Buying Recommendation If there is a clear move above the $62,000 resistance level, with a strong breakthrough of this resistance, Bitcoin price could begin a steady increase towards the $63,500 level. In this case, consider buying at the breakthrough of $62,000 and targeting $63,500 for short-term profits. Place stop-loss orders at the $60,450 level to minimize risk. Selling Recommendation or Avoid Buying If Bitcoin fails to climb above the $62,000 resistance zone, it is likely to start declining towards lower support levels. The first major support could be at $60,000 and the next support at $59,500. In this case, it is recommended to sell Bitcoin if there is a move below $60,450 or avoid buying until clear positive signals appear.
COINBASE:BTCUSD
by bbitar
btcPlan 1 From this first resistance, we play a little and the blue movement is done Plan 2 We have Time News today and Green Plan Important note We have three important areas where I don't do a lot of shopping We are in a short-term downtrend If the important resistance areas are not broken, the yellow lines are in sight We have news It is a personal opinionPlan 1 From this first resistance, we play a little and the blue movement is done Plan 2 We have Time News today and Green Plan Important note We have three important areas where I don't do a lot of shopping We are in a short-term downtrend If the important resistance areas are not broken, the yellow lines are in sight We have news It is a personal opinion
BITSTAMP:BTCUSD
by hosseinghaffari67
BTCUSDT Forms Bullish Flag Pattern, Eyeing $80000 Target.BTCUSDT has recently formed a bullish flag pattern, indicating potential for a substantial price increase. The immediate target is set at $75,000 following three months of consolidation. However, traders are advised to maintain a stop-loss strategy to manage risks. BTCUSDT (1D Chart) Technical analysis BTCUSDT (1D Chart) Currently trading at $69600 Buy level: Above $69500 Stop loss: Below $65900 TP1: $72000 TP2: $75000 TP3: $80000 TP4: $90000 Max Leverage 5x Always keep Stop loss Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts
Long
by GreenCryptoTrades
1
BTC: Two potential target prices - Two critical support zones correspond with the 0.382 and 0.618 Fibonacci retracement levels of the entire swing from A to B, enhancing the significance of these support levels. - After two months of ranging, the price finally broke below the critical support zone as volume spiked, confirming the breakout and leading to a significant drop. - If the price does not return above the first support zone , two potential target prices can be anticipated: 1. A 100% extension of the large purple box. 2. A 100% extension of the small blue box. Note that this target price perfectly aligns with the previous key resistance-turned-support level. Not Financial Advice The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
COINBASE:BTCUSDShort
by stock_adelie
2
Market Watch: Trends, Patterns, and Trading OpportunitiesMarket Analysis - April 16, 2024 by André Cardoso The insights presented in this summary are intended to assist traders and investors in understanding market dynamics and identifying potential trading opportunities. I hope this summary proves to be informative and helpful to you, our readers, in your investment decisions and trading strategies. TVC:DXY The DXY is encountering channel resistance and exhibiting a bearish Gartley pattern. TVC:US10Y US10Y bonds are also nearing channel resistance and have already reached the target for the previously formed cup and handle pattern. OANDA:SPX500USD The SPX500 is currently trading near the 0.382% Fibonacci retracement level, potentially serving as a support element. FX:GER30 The German DAX is showing signs of potential short-term recovery after breaking previous lows and fractal support. OANDA:XAGUSD Silver is reacting lower after encountering channel resistance and hitting the target for the cup and handle pattern formed at lower levels. OANDA:WTICOUSD Crude oil remains in bearish crab pattern territory unless the geopolitical situation between Israel and Iran escalates; we still expect a pullback. FX:GBPUSD The GBP is forming a bullish crab pattern as previously projected. OANDA:NZDUSD The NZD is facing channel support; we should pay attention to tonight's CPI data. OANDA:USDCHF The CHF has completed what appears to be a five-wave structure to the upside in Elliott Wave theory, which opens the door for a pullback. OANDA:USDNOK The NOK printed a bearish shark pattern pushed at the 224% Fibonacci extension. Japanese Yen (JPY) Pairs: JPY pairs have printed a nice "V" shape recovery, but I still expect bullish crab patterns for AUD and NZD versus JPY to form at lower levels. OANDA:EURAUD The EUR/AUD pair may also be affected by tonight's CPI data; we have a bearish crab pattern projected at the golden Fibonacci extension to consider. OANDA:EURNZD The EUR/NZD pair is approaching previous highs and major resistance, with a bearish shark pattern on hold at higher levels. FX:GBPAUD For the GBP/AUD pair, I have a bearish alt-bat pattern projected at the 113% Fibonacci extension; if reached, it may offer a pullback to last week's previous resistance levels. BITSTAMP:BTCUSD To wrap up with BTC/USD, a bullish crab pattern that I projected earlier in the week at $60k remains my primary focus for the cryptocurrency. Printing new lows below $61,308 (new fractal support) will place the cryptocurrency very close to forming the projected pattern concretely at $59,462. Thank you for reviewing this summary of the financial markets. I hope it proves valuable for your trading decisions. Stay tuned for more updates, and more educational content. André Cardoso
BITSTAMP:BTCUSD
by Andre_Cardoso