BTCINRBTCINR trading at major support level.
if close or sustain below 29lacs, we seen 27/25/23/21.5 lacs (inr)
NOTE : ALL VIEWS ARE EDUCATION PURPOSE ONLY.
Btcinr
🐻 Ride started? Wait for weekly candle confirmation.Wait for weekly candle confirmation to place your order 😊
BITCOIN A HEDGE AGAINST REAL , RUPE AND YUAN.WHEN ANARCHY IS AROUND THE CORNER THE COIN OF THE ANARCHY RISES.
THERE ARE THREE REASONS WHY BITCOIN IS DOING BETTER AGAINST REAL, RUPE AND YUAN THAN AGAINST THE US DOLLAR.
FIRST OF ALL IS THE BLACK ECONOMY THAT IS STRIVING IN THIS COUNTRIES AND BITCOIN IS A WELL KNOWN ASSET THAT IS LIKED BY THE ILLEGAL ENTITIES THAT USE MONEY LAUNDRY SCHEMES.
SECOND IS THE RISE OF THE STRONG LEADERS IN CHINA , INDIA AND BRAZIL . THE CREATION OF MODERATELY AUTHORITARIAN REGIMES IN INDIA AND BRAZIL AND THE SLOWLY CREATION OF A FULL SCALE MAOIST DICTATORSHIP IN CHINA IS CREATING A LOT OF INSECURITY IN THIS COUNTRIES CURRENCIES.
THIRD REASON ARE THE TRADEWARS . THE TRADEWARS ARE PUTTING A LOT OF PRESSURE IN THIS COUNTRY CENTRAL BANKS TO LOWER THE VALUE OF THEIR CURRENCIES IN WAY TO BE MORE COMPETITIVE AND ATTRACT MORE INVESTMENTS.
Bitcoin , Don't listen to 'em! I can see some hype going on shorting bitcoin while the same traders a few days back were aiming for 6k targets lol.
Wait for the perfect price action to happen & then Long/Short.
It's currently trapped in a triangle where the resistance has been tested 2 times & the support almost 3 times which indicates that the support may not hold next time if it touches it (the blue lines) .
If the candle closes below the triangle the Pink lines will be the first two targets & the green box will be the final target & vice versa if it breaks the triangle in the upward direction.
BITCOIN | Bitcoin Price Eyes Breakout As Trading Range Tightens Bitcoin (BTC) is stuck in a narrow $550 range between the key long-term moving averages today, but may be prepping for a breakout, the technical charts suggest.
With the bull/bear bias now unclear, the big problem now is trying to work out in which direction the price will go.
As of writing, BTC is changing hands at $8,760 - $8,500 on Bitfinex, and is trading between the 50-day moving average (MA) at $8,287 and the 100-day moving average at $8,837.
The sell-off from the May 5 high of $9,990 came to halt around the 50-day MA on Saturday. Further, the 50-day MA also acted as strong support on Monday. Meanwhile, on both occasions, the rebound from the 50-day MA ran out of steam around the 100-day MA hurdle.
The rangebound action seen in the last three days has established the 50-day MA as a major support and the 100-day MA as a formidable resistance and the breakout of this zone will likely set the tone for the next big move in BTC.
On the above chart, the falling trendline resistance is seen around $8,810 and is immediately followed by hurdle at $8,910 (expanding channel resistance).
With major moving averages (50, 100 and 200) trending south (bearish), BTC bulls will likely struggle to cut through resistance at $8,900 in a convincing manner.
Note, the bears are about to score another brownie point by pushing the 50-candle MA below the 200-candle MA (bearish crossover).
The 5-day MA and the 10-day MA (seen in the daily chart) are also biased bearish.
Bitcoin | LONG PLAYOUT | SET YOUR OWN TRADING SETUP |A move above resistance at $8,500 would provide confirmation bitcoin's bear market has ended, the technical charts indicate.
Over the weekend, the cryptocurrency clocked a three-week high of $8,458 on Bitfinex, adding credence to the short-term bull reversal confirmed last Thursday. Further, the 30 percent rally from $6,425 (April 1 low) proved that the much-feared "death cross" indicator was in fact a bear trap.As seen in the chart above, the descending trendline, representing a series of lower price highs over the last four months, is still intact. The trendline hurdle is seen around $8,500. The 50-day moving average (MA) is also lined up at 8,516.
A high volume break above the confluence of the trendline and the 50-day MA could be considered the final confirmation of the bearish-to-bullish trend change.
That said, BTC's first attempt to scale the key resistance failed - running out of steam at $8,415 and falling back to $8,100 this morning. As of writing, the ascending (bullish biased) 5-day MA is capping the downside in prices.
There may be clues as to the reason for the retreat in the short-duration chart below.
While that may be true, a convincing move above $8,500 (falling trendline hurdle as seen in the daily chart) could be considered as an advance indicator of an impending break above $11,700. That's because the breach of the trendline hurdle would signal the end of the downtrend from bitcoin's December all-time high of around $20,000.
BTC Topping out on weekly . SHORTBTC has topped out on weekly .
Looking to buy at 2000-3000$ .
Short around 4500-4900$ .
