💎Technical Analysis Summary💎 BTC/USD -Bitcoin respected the Fib .382 level and manages to hold above EMA 23 -This is a strong bullish sign in the short term price action -BTC might be also forming a bullish descending channel -If the buyers can hold above 59k dollars until next week -And we see a good breakout of this channel with decent volume -We could...
💎Technical Analysis Summary💎 BTC/USD -Not much update for Bitcoin today -Currently testing the previous resistance level -We can see the price is reacting to this horizontal support -If the Buyers can sustain above this 59k dollar support -Consolidate and form a potentially bullish pattern in the daily timeframe -The chances to print another ATH price is...
💎Technical Analysis Summary💎 BTC/USD -Bitcoin hit a new ATH recently but seems like a minor profit taking oppurtunity for others -The price is now testing the 60k physiological support level and previous resistance area -If BTC will consolidate within this support area and hold this level for a few days or weeks -Then, another potential to break into a new ATH...
The current rise and formation of the weekly pivot in bitcoin is very similar to the 2013 high
💎Technical Analysis Summary💎 BTC/USD -Bitcoin printed a new All-Time high and is trading above 65k dollars today -The price respected the 50W moving average since its correction phase -Since BTC is now at a new level of trading, price discovery is likely to happen -We can use fib extension to potentially look for taking profit zone can be -But for now, let us...
💎Technical Analysis Summary💎 BTC/USD -Bitcoin is back above the 60k dollar and hitting as high as 62k dollars -Only a few percentages away from making a new All-time high price -The bulls have shown a strong move up since the breakout of 58k dollars -For now, if BTC can hold above 58k as an immediate support area -The chances to test the ATH level in the...
💎Technical Analysis Summary💎 BTC/USD -Finally, BTC broke above the previous swing top at 53k dollars -Most short players got their stop loss hit after hitting as high as 56k dollars -The Bulls are back in momentum but we will have a much better view once the weekly candle is closed -For now, our immediate support is the Fib 0.236-0.382 region with the...
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💎Technical Analysis Summary💎 BTC/USD -Bitcoin is looking good today after a bullish retest on the S/R level -The chances to retest the 53k recent swing top is highly probable now -If BTC reaches the 53k level, we will have to observe for any price reaction -If the price will go higher or faces rejection because the sellers might re-enter -There is always a risk...
💎Technical Analysis Summary💎 BTC/USD -The bulls showed their strength back after confirming the 40k dollar new key support -The 40k dollar zone is a confluence of multiple factors like the S/R level, 50W MA, Fib 0.618 -This weekly candle is about to close in 3 hours, if this one closes above 46k that is a good sign -A potential upside continuation up to its...
💎Technical Analysis Summary💎 BTC/USD -Finally, the bulls showed up after a double bottom reversal pattern is confirmed -This pattern is also a confluence of a descending bullish channel -Which is trading in the key area of interest around the 40k dollar zone -Currently, BTC is testing the mid resistance level at 48k dollar -If the bulls will continue to go...
💎Technical Analysis Summary💎 BTC/USD -Every time the price goes above 44k dollars, the bears always enter the market -We can see two downward trendline resistance which is acting heavy in the short term -The only good thing right now is BTC is holding the Fib 0.5 and 100D moving average -We will soon see a breakout direction within this week either up or...
💎Technical Analysis Summary💎 BTC/USD -The previous support area has turned resistant today -This zone is a perfect entry for the sellers to enter the market -Another lower high structure is being painted by the Bears -The Bulls needs a lot of work to do, they need to defend its recent mid support -If the buyers can hold the 40k dollar area and bounces up like a...
💎Technical Analysis Summary💎 BTC/USD -Bitcoin defending the Fib 0.5 level or 40k dollar zone -The price bounce up by almost 12% today which is a good sign -We can see many altcoins are also finding their new support area -This could be a good positive view in the coming days -Bitcoin is about to retest its previous support of around 44k-47k dollars -If we can...
💎Technical Analysis Summary💎 BTC/USD -Bitcoin hit the mid support around 40k dollar zone -This area is a confluence of the 100D MA and Fib 0.5 -We can see the price reacted bullishly on this level -The bulls immediately bought the dip within few minutes -This is a good short term strength but still not enough -We need to see BTC holding above Fib 0.5 for at...
💎Technical Analysis Summary💎 BTC/USD -Things went bad for Bitcoin today as the price is back at the neckline support -The price declined by almost -14% from the Right Shoulder swing point -The overall market received a negative impact which leads to multiple stops out or liquidation -I am technical out of my swing trade positions at a small loss today -Getting...
💎Technical Analysis Summary💎 BTC/USD -Bitcoin broke out of this bullish descending channel today -As the price reached as high as 48800 dollars -The previous 46k dollar resistance area did turn support -If BTC can hold above 47k dollar, I think the chances to go up increases -My short term upside target is up to 49.7k-50.4k dollars -For now, everything is...
💎Technical Analysis Summary💎 BTC/USD -After an extreme price action yesterday liquidating both high leverage long and short positions -Bitcoin today is showing a little strength as the price is trading above the MA50 and MA200 -This is a good sign to the market because I can see some mid-cap to low-cap coins are recovering -If BTC can maintain above 46k for the...