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Btcanalysis

IS BITCOIN STRONG ENOUGH TO HOLD?Hello traders, I hope you all are doing well. BTC did make a move but toward the downside. It went straight to the support level and in an hourly timeframe, we can see a bounce back from the support. The interesting question that arises is whether BTC can hold on to this support or will it drop down below the support. If BTC manages to hold this level then we can expect another bounce back but if breaks down then we need to be ready for some more bearish moves. Things are getting pretty interesting. Thank you for reading. God bless.
COINBASE:BTCUSD
by Dexter_The_Trader
4
Bitcoin - Shattering of the Bitcoin bubbleYesterday, we projected a downward sloping channel and laid out conditions for its invalidation that came later with the breakout above the upper bound. In such a scenario, we stated the pattern would most likely get distorted. However, an increase in volume after the weekend makes us speculate about the price returning to the channel. Although, such development has to happen either today or tomorrow; otherwise, distortion of the pattern will materialize. Despite that, we stick to our bearish narrative, mainly due to the persistence of bearish fundamental and technical factors. Among fundamental factors, we view threat predominantly in the prospect of higher interest rates, quantitative tightening, and a slowing economy. Indeed, mounting evidence continues to show the U.S. economy is headed into a deeper recession toward the end of 2022. As such periods are typically accompanied by risk-off mood among market participants, we expect this time to be no different. Regarding technical factors, indicators show bearish signs across daily, weekly, and monthly time frames. That, in reality, reflects a powerful downtrend of a higher degree with the potential to last through the rest of 2022 and very likely also throughout 2023. Because of that, we have no reason to change our medium and long-term outlook on Bitcoin. Indeed, we think the cryptocurrency market will stand a test over the coming months, with Bitcoin retesting its 2022 lows. Accordingly, we stick to our price targets at 17 500 USD and 15 000 USD. Illustration 1.01 Illustration 1.01 shows the downward sloping channel we introduced yesterday. However, the breakout above the upper bound invalidated the channel. Because of that, we pay close attention to volume, which is on a pick-up after the weekend. In our opinion, that is a bearish sign, foreshadowing the price's return into the channel. Technical analysis - daily time frame RSI strives to turn bullish. MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 Illustration 1.02 portrays several bearish developments on the daily chart of BTCUSD. Yellow arrows indicate bearish breakouts below support levels and bearish crossover between 20-day SMA and 50-day SMA. All these developments support our bearish narrative. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Illustration 1.03 The weekly chart of BTCUSD also shows two moving averages: 20-week and 50-week SMA. The price naturally retraced to its 20-week SMA, serving as a strong correction of the downtrend. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Short
by Tradersweekly
27
Rising wedge + bullish shark on BTCBTC is moving inside a rising wedge (bearish pattern). Price needs to hold the ascending trendline level, upon breakdown technical target of the pattern is $19,096. Bullish shark is developing which will complete at rising wedge technical target or $18,826. Right now, we are at critical situation due to CZ planning to sell FTX tokens and many people building up big shorts on FTX. If this happens then whole crypto market will face the consequences not just FTX. This will be another LUNA like situation, SBF is already selling his Solana bags to control FTX price reminds of how Kwon was selling BTC to control LUNA and UST price but failed miserably so be careful with your trades as fundamentals + technical are looking bearish as hell. We have mid-term elections in USA on 8th plus CPI data coming on 10th.
BITSTAMP:BTCUSDShort
by NasirCrypto
5
FTX FUD What Next ? Small Shakeout Or a Crash ?Left Chart : FTT Coin (FTX token) is dropped more than 10% after the news that Binance could dump their FTT holdings Price now is testing the multi-year support level ($22 - $21) area that has nothing below. If rumors are true and Sam is unable to hold this support, this can drive the whole market down hard just like LUNA earlier this year IF price breakout the red trendline it will turn very bullish for long term and ONLY worth buying after that Right Chart : BTC I marked the most important local levels for BTC in current zone, first one is 20.8k and second one is 20k IF BTC could hold these supports we are fine and this is just a small shakeout before the real bullrun IF BTC loss 20k again the chance for breaking 17600$ is higher than any time before Both chart works as an indictor for each other The only thing can hold FTT right now is BTC upward movement ❤️ Dont forget to support my work by press on Rockets button ,follow and Share with me your opinions and questions in comments section below ❤️
by Babenski
34
BTC/USDT 1DAY UPDATE BY CRYPTOSANDERSHello, welcome to this BTC /USDT 1DAY chart update by CRYPTO SANDERS I have tried to bring the best possible outcome to this chart. Show some support, hit the like button, and comment in the comment section. this motivates me to bring this kind of chart analysis on regular basis. BTC Analysis:-On the daily timeframe, the price just broke above the 100-day moving average resistance line after multiple rejections during the last couple of weeks. this is the first time it succeeds since September, and if the price holds another day above it – it will become the longest period since April. In the event of a bullish daily close above said moving average, the breakout would then be considered valid. The next targets for Bitcoin are the $24K resistance level and the 200-day moving average located nearby. From a traditional technical analysis perspective, a bullish breakout above the 200-day moving average would theoretically mark the beginning of the new bear market. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
BTC/USDT 4HOUR UPDATEHello, welcome to this BTC /USDT 4hr chart update by CRYPTO SANDERS I have tried to bring the best possible outcome to this chart. Show some support, hit the like button, and comment in the comment section. this motivates me to bring this kind of chart analysis on regular basis. BTC Analysis:- BTC broke above the $21150 resistance and it was rejecting on every touch even above the trendline. Now this level should act as support and we can move towards $23k and higher. If it starts closing below $21k again it will be a negative sign in the near term. Funding is on the neutral side here and there has been a lot of steady money flow across the exchanges over the past few days. We haven't seen that much pump in BTC in that regard, instead alts are popping off one by one. If that rotation of capital turns into BTC it will hardly last. Enjoy your Sunday and trade with proper setup and stop loss. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
4
BTC/USDT 1DAY UPDATE BY CRYPTOSANDERSHello, welcome to this BTC /USDT 1D chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. Show some support, hit the like button, and follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis. CHART ANALYSIS:-Bitcoin (BTC) prices rebounded on Friday, as markets began to prepare for the release of October’s nonfarm payrolls report. Today’s surge sees the world’s largest token move towards a ceiling of $20,800, which was the last hit on October 30. Since last week’s failed breakout, BTC mostly traded lower in the days that followed, with today’s rally one of the few days bullish momentum has trumped downward sentiment. As of writing, the relative strength index (RSI) is tracking at 58.57, which is marginally below a ceiling of 59.00. In order to reach $20,800 and above, this resistance will first need to be broken. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
4
INDEED BITCOIN HOLD THE $20K SUPPORT.Well! Well! Well! Here comes the breakout on BTC. My previous analysis got invalidated cause I expected a quick drop toward the $19.3k support level. Things took a sharp turn on BTC and unexpectedly it rallied all the way up to $21.4k as per the current scenario. This could be a good thing for the market both in the short and long term. If BTC manages to stay above this breakout level then we can consider something massive rolling into the crypto market. But if BTC drops down below it then this could possibly be another trap. At this point in time, I am not gonna play a scalping game. I would rather bet on long-term gains on BTC and other major altcoins. I am long on BTC at $18.3k and I will continue to hold it. If BTC drops down below $20k once again, I will accumulate more. Anyways, I will discuss more regarding the long-term perspective on BTC in the higher timeframe update. Thank you for your continuous support of my content. Trade safely.
BINANCE:BTCUSD
by Dexter_The_Trader
1
BTC/USDT 4HOUR UPDATEHello, welcome to this BTC /USDT 4hr chart update by CRYPTOSANDERS. I have tried my best to bring the best possible outcome to this chart. Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis. CHART ANALYSIS:-Bitcoin (BTC) prices rebounded on Friday, as markets began to prepare for the release of October’s nonfarm payrolls report. The jobs day report is expected to show that 200,000 jobs were added to the U.S. economy last month, lower than September’s figure of 263,000. BTC/USD rallied to a peak of $20,642.81 ahead of the report, moving away from Thursday’s low of $20,086.24 in the process. Today’s surge sees the world’s largest token move towards a ceiling of $20,800, which was the last hit on October 30. Since last week’s failed breakout, BTC mostly traded lower in the days that followed, with today’s rally one of the few days bullish momentum has trumped downward sentiment. As of writing, the relative strength index (RSI) is tracking at 58.57, which is marginally below a ceiling of 59.00. In order to reach $20,800 and above, this resistance will first need to be broken. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
BTC/USDT 1DAY UPDATE BY CRYPTOSANDERSHello, welcome to this BTC /USDT 1D chart update by CRYPTOSANDERS. I have tried my best to bring the best possible outcome to this chart. Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis. CHART ANALYSIS:-daily timeframe, after breaking above the long-term bearish trendline and retesting both the trendline and $18K, the price has been trapped between two significant dynamic levels; the 50-day and 100-day moving average lines, located around $20K and $21K. The cryptocurrency has been consolidating in this range since breaking the 50-day moving average to the upside but is yet to close above the 100-day MA. A bullish breakout could lead to a rally toward the 200-day MA and the $24K resistance level, which are both strong barriers to be surpassed before anticipating the beginning of a new bull market. On the other hand, in the event of a deeper pullback, the significant $18K support level could come into play once more. However, it may not be reliable as it has already been tested on multiple occasions recently and, as a result, should be considerably weakened. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
BTC/USDT 1DAY UPDATE BY CRYPTOSANDERSHello, welcome to this BTC /USDT 4hr chart update by CRYPTOSANDERS. I have tried my best to bring the best possible outcome to this chart. Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis. CHART ANALYSIS:-Bitcoin has formed a bearish triangle pattern and found support at the lower boundary near the $18K range until it recently broke above the triangle. Typically, a breakout from the upper edge of a bearish triangle is considered a bullish signal for the price. However, the market conditions are slightly different now, with some significant resistance levels over the near term. The 100-day moving average of $20.8K is the main barrier for Bitcoin, as the price is struggling to hold above this level after a few failed attempts. Optimism will likely return to the market if the price successfully exceeds this level. Nevertheless, there is a higher chance that Bitcoin will get rejected at this level and plummet based on the lower timeframe price action. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
2
Bitcoin might continue going up important levels to watchThe price of Bitcoin has been pumping after the successful retest of $18.5k support which caused pumps on many Altcoins. The Bitcoin price also broke the 2 months old trendline, the price data suggest it will continue going up after a slight pullback to $19.5. However, Bitcoin has to hold $18.5k for the continuation. Right now the price of Bitcoin is at resistance area of $20.8k - $21k which needs to be broken in order for the price to retest the next resistance of $22.5k. The Price Action also suggests that Bitcoin price is in a parallel channel if I am correct the target is going to be $24k - $25k for this move. We can expect a pullback towards $19.5k if price doesn't hold the current levels. All the important levels are marked on the chart. Enjoy Trading. (press like 👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis)
by TychonTrades
2