Btc-usdt
BTC Rejection of Uptrend from 0.618 FibThis is an updated Idea from yesterday
Bearish:
1)Reversal of uptrend from 0.618 Fib line at 45,409
2)Loss of Bullish Trend Line
Bullish:
1)Golden Cross Formation of the EMA 50 over 200
New trend:
Look for double Bottom Support off of previous Buyer Support Zone to start new uptrend
IF support isn't found look for a deeper pullback to previous support levels around 36,500
Catalysts:
Several Crypto Themed Superbowl ads for the weekend of Feb 13 are slated to run
- This new uptrend could be the market pricing in these ads
- Watch for a possible selloff during the Superbowl if the market has priced in the catalyst already
btc up 🔥🔥btc up 🔥🔥 🚀 BINANCE:BTCUSDT
After the buyers were unable to get down at the price and close down 40 thousand for three days and the bounce is prepared with dodge candle yesterday and with a volium on the four-hour frame the road became impassable to bounce back about 46 thousand as the first area and 49 thousand as another area
🔥 Bitcoin Is Still In A DowntrendOver the last 10 days or so, Bitcoin has actually been showing some solid performance. However, with today's stock market opening (and trading) in the red, Bitcoin is experiencing the worst day since the Jan-22 dump.
Traders might get bullish seeing that BTC has been trending bullish for around 10 days now, but be aware that we're still in a technical downtrend and that the most likely outcome is for the price to follow the trend.
However, we've seen oversold conditions which we rarely see. So if there was a bottom, it would be $33k. On the other hand, if stocks dump, Bitcoin will blindly follow and completely ignore all forms of technical analysis.
In case of a continued down trend, I'm expecting both $35k and $33k to offer support. If stocks continue to fall, both supports will be taken out with great ease.
Happy trading!
🔥 KCS Incredible Strength: Potential Break Out SoonA couple of days ago I made an analysis on KCS and its strong upward momentum.
As seen on the chart, KCS followed my pattern almost to the letter, with more bullish price action coming to it as we speak. The bullish trend line still holds strong, so we could re-test it again in the coming days.
However, the most likely scenario in my opinion would be a bullish move towards the top resistance. I'm expecting heavy volatility around the yellow area. We will either reverse from there to re-test the bullish trend line, or we break out and will re-test the resistance later.
Happy trading!