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BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) started the week trading above $28,000, as markets responded to the deepening global banking crisis. The coordinated action by several major G7 central banks comes as Credit Suisse was bought out by rival UBS, a move engineered by Swiss authorities. BTC/USD jumped to an intraday peak of $28,527.72 earlier today, which comes a day after trading at a low of $27,196.76. As a result of the rally, bitcoin climbed to its strongest point since last June, with many now anticipating a move above $30,000. Overall, this surge has sent prices into overbought territory, with the 14-day relative strength index (RSI) now tracking at 72.73. The next visible point of resistance appears to be at 75.00, and should this be hit, there is a strong chance BTC will be at $30,000. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563
Where BTC going from here? BTC find bottom? Last 4 - 5 months I tracked #Bitcoin to see when it will hit the bottom like many of you and I was expecting capitulation before we see a strong move up from BTC. Did Crypto find bottom, Alts and BTC? I'm not 100% sure but altcoins made nice 50%+ move some even bigger move from bottom. If you are not already long on some of these movers or if you catch some of these moves I guess it is a good time to take some profits from table and move Stop in profit. I'm 100% sure I will not long here. Why? Because I'll wait to see where this going from here. Can Bitcoin push from here without retrace? Sure, it's possible, but the question is what kind of traders are you? Holder? Where to enter and where to place Stop? Anyway this is what I tracked these months for #BTC and what I was looking for (I know bear option is not popular) and what could happen. Back in September '20 the first harmonic pattern I spotted (after BTC make big drop) was bullish Shark pattern. I also noticed that is choppy waves and usually it is not a good idea to take long in bearish market. I got the bearish harmonic pattern in result of how the price moves (small Butterfly harmonic pattern) Again, I noticed choppy waves (not impulse, this move should be part of some larger correction) At same time, I got a larger harmonic pattern (121 pattern) and 5 - 0 pattern, that is a specific harmonic pattern (small margin for error) I assume this is just internal (inside) correction of larger move down (from 25k to 18k) and I have confluence of 3 #harmonic patterns. Risk to Reward (R:R) is good and in bearish market is always a better option to ride with trend. Clear Entry, Stop and all Targets. So, Bitcoin reached all targets, for one small and two larger harmonic patterns. After that drop, the next pattern I got is small Cypher and Anti Butterfly pattern. Like I said before, it is not a good idea to long in bearish market but these harmonic patterns reached all targets (I ask myself maybe trend is going to change)? After a nice move from that bottom, Bitcoin reached new larger bearish harmonic patterns (very large 121 pattern and Cypher and Anti Butterfly) These patterns even reached PRZ however they still did not reach "entry". The question is will it be invalidated (not reached "Entry" before break up) or we will see valid harmonic patterns (hit entry) and reached some targets? One of the reasons to be careful is because I can see two more possible harmonic patterns above (Crab and more upside Nen Star and Anti Bat). If this is not bottom one of the options are this Elliott wave that I see. I guess soon we will see where the top is for this move up (if this is bottom) and what kind of move down we will see after we find top (if this is not yet). 3 or 5 wave down. Enjoy and good hunting.
by CryptoArch_
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) rose back above $27,000 in today’s session, as markets reacted to the Federal Reserve’s decision to pump liquidity into the U.S. economy. Following a low of $24,624.74 on Thursday, BTC/USD raced to an intraday peak of $27,002.39 earlier in the day. As a result of the move, bitcoin climbed to its strongest point since June 2022, when the price was above $28,500. Since this latest rally, the 10-day (red) moving average is now on the verge of an upwards crossover with its 25-day (blue) counterpart, which many see as a sign of a longer-term bull run. In addition to this, the 14-day relative strength index (RSI) has broken out of a resistance level at 67.00, moving into overbought territory in the process. At the time of writing, the index is tracking at 70.09, which is the strongest reading for the index since early February. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563
2
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) rose back above the $25,000 level in today’s session, as market volatility eased, and the Swiss National Bank moved to prevent a collapse of Credit Suisse. Following a low of $23,964.91 on Wednesday, BTC/USD rallied to an intraday peak of $25,240.62 earlier in the day. As a result of the move, bitcoin once again broke out of a key resistance level at the $25,050 zone. Overall, BTC is now trading 15% higher from the same point last week, with the 14-day relative strength index (RSI) at its strongest point since February 20. Currently, the index is tracking at 62.54, which is marginally below a resistance point at the 65.00 mark. This ceiling remains the main obstacle preventing bitcoin bulls from surging back towards a recent high above $26,000. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563
Trend Based Fib Time, Macro Picture $BTC #BitcoinAnother interesting observation here.. Trend Based Fib-Time.. The significance of the 0.618 and the 2 levels cannot be discounted. This a big-picture, Quarter-by-Quarter outlook so not accurate to the month, day or week, but to the 3-month quarter in which it falls in. The 0.618 has 3 times (if we assume that the bottom was put in last quarter) marked the bottom of the last 3 cycles. The 2 level has called the last 2 tops (if you consider the first high was put in Q2 of 2021, but the real high was in Q4.. I added 2.25 just to see how that lines up with the 2nd high. The next top could be around in the 4th Quarter of 2025 and the next bottom in 4th Quarter of 2026. Let see if this plays out, check back in a few years ;-)
INDEX:BTCUSDLong
by TheTraderAndy
2
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) fell from a nine-month high on Wednesday, following yesterday’s post-U.S.-inflation-report rally. BTC/USD is trading at $24,858.50 at the time of writing, hours after prices surged to a peak of $26,514.72. Tuesday’s peak saw the world’s largest cryptocurrency hit its most vital point since June 13, when BTC was above $26,600. Earlier gains have since fallen, which comes as a result of the 14-day relative strength index (RSI) nearing a ceiling of 65.00 Currently, the index is tracking at 63.07, however, overall momentum remains higher, with the 10-day (red) moving average trending upwards. Should the ceiling of 65.00 be eventually broken, bulls will likely push BTC to a higher resistance level at $28,000. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you.
BITSTAMP:BTCUSD
by CryptoSanders9563
Bitcoin update - 28.8k next target?After a quick price recovery, Bitcoin had a weekly close followed by a daily close with a very bullish hammer at the bottom. An unbroken downtrend line should be taken into account. News is already circulating on the internet that the USDC blocked balance will be fully recovered, which encouraged the markets, usually an unexpected event (black swan) is not capable of changing a medium-term asset trend, which also happened with the covid pandemic news. All going well, fibo points to a target in the 28.8k region on the next leg up. I'm still long with 12% in bitcoin and 12% in ETH, waiting for a few more closings and an opportunity to buy back more.
INDEX:BTCUSDLong
by MrClock