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Btcpriceinmarch

[Detailed Analysis on BTC/USD]: Price Action & My OpinionWhat do you think? Is it the turning point for Bitcoin Price Action or Bitcoin's Flight to the Moon is halfway? Comment down. Here is what my analysis says: 1. Rising Wedge Pattern on Daily: Starting from the start July 21, 2021, Bitcoin started formation of rising wedge - First one smaller timeframe (4h): and then on Daily Timeframe shown in the chart. It broke down from the wedge and the bulls entered the market at $44000 that drove the BTC price from $44k to $49500! Yes, that's massive but if we look on the daily timeframe, it seems like a retest of upward sloping support of the rising wedge (which was broken on August 16, 2021) is being retested, hence making it now a resistance. Looking at zoomed out view of BTC Daily Chart, we can point that there is a strong resistance zone for Bitcoin from $49500 to $51000 which BTC was trying to break but failed. Some other technical, when drawn on Weekly timeframe, are predicting that Bitcoin can either take U-turn from $49k level or if this strong level gets broken, then the ONLY hurdle between Bitcoin's new All Time High is $58000 level. We can see a huge sell-off there as well. 2. Decreasing Volume: Decreasing Volume is one of the factor that is showing that BTC's current trend is not very strong for Bitcoin to go straight to the moon. It needs a massive correction, accumulation and then the bull flight. 3. Indicators: Renown Indicators like RSI and MACD are also pointing that bears have started stepping into the market. RSI is showing Bearish Divergence on Daily Timeframe while MACD is doing bearish crossover. 4. My Opinion: In my opinion, Bitcoin will not get volatile immediately but will range for a while. Bull will try to exhaust the resistance to move the price up while bears are waiting for the greed to make its ATH. Currently, on hourly timeframe Bitcoin has just broken Head and Shoulders Pattern and technically, it should test $47800 level. Next strong support level is $42900 which is Weekly 21EMA + Global Support. Till then, we can scalp but I will not be in favor of any days longs trades. After this week's close, we could see some volatility in the market. Get ready! Stay safe and happy trading. Comment down your thoughts. Muneeb. #SyedMuneebAli
Short
by syedmuneebali
8
Two down trend channelsIf we don't reach above 53000 in the next few hours and start moving down, we might be moving into a quicker down channel. You might think why am I avoiding a bulge going through it, it is because of the Elon Musk tweet that had happend there, if we ignore it we can see a line continue through it going down. And the downtrend of this will have a target between 47000- 44400usd as it lowest before we be able to move up again hitting a growth line from not the previous cycle but before it. The reason why we are moving towards that line is that the previous large dip we started to go up far too early and now are correcting for it, before we can really see a move up.
COINBASE:BTCUSDShort
by chungdha
2
BTCUSD is consolidation over?From our previous analysis and its updates it was clearly seen that BTC went out of the triangle and now is preparing for the next wave of growth. After it was pumped above Fib 0.786 level the price started to consolidate and now it has bounced back from the mentioned Fibonacci level which is now strong support. Nevertheless, uncertainty about BTC price movement is going to end only in the beginning of April. Till this moment there are still 2 scenarios: 1. Price continues its bounce and moves higher to the next level around $10 800 2. Volume goes down and bounce stops, the price follows Stoch RSI forecast and moves back to the triangle and decreases till its lower edge around $6 400 Conclusion: BTC will obviously grow up and reach new ATH in the long term, however in the short term the price may retest 6k level before it starts a new wave of growth
BITFINEX:BTCUSD
by Skyrexio
BTCUSD Bulls vs Bears. Who's going to winAs it was predicted by our team the price went out of triangle around 23 th March. We expected further growth till Fib 0.618 resistance level, which should be followed by a consolidation and correction wave. In case of completion of this scenario there should be inverse head and shoulders pattern and further growth. However, volume decreased and bears were stronger, the pattern was broken. Currently there are 2 possible scenarios: 1. Psychological support level will be broken, Bollinger Bands contraction will lead to the sharp decline and price will move to the triangle again, Stoch RSI status supports this scenario. However it will be the last time because the price reached a right vertex of the triangle. Most likely that the price will break it upward again and there should be a huge volume increase which will bring the price up. So there are possibilities to short BTC 2. Psychological support level will hold the pressure and Bollinger Bands contraction will lead to significant rise till Fib 0.618 where a consolidation will start which will finish a new inverse H&S pattern. In case of this scenario BTC will reach Fib 0.5 which is around $12 600. Conclusion: Probabilities of scenarios are 60% and 40%, moreover we have already opened a long position, that is why we are neutral to these movements and we are going to hold BTC. Our recommendation: If you like risk and have BTC try to short it, but if you are a risk averse person just hold If you wait till the good moment to enter then just wait till uncertainty will end and the descending triangle which like a magnet pulls the price will be passed. Alt trades are risky now, so be careful, when there will be good trade opportunities we will provide you with profitable signals.
BITFINEX:BTCUSD
by Skyrexio
MAIDBTC retests the support and is ready for a moon rideMAID has a great potential now. We start with a safe signal for this coin, however further updates will give us a lot of profit. Currently most of TA indicators shows a sell status, this is due to retesting of a support level. We detected a reversal point where our buy zone is located. Sell at targets as usual one by one. Our analysts team will provide you with all necessary updates to maximize profit from the trade. There is still a medium risk as BTC will fluctuate till the end of March.
MLong
by Skyrexio
3
BTCUSD What will happen next ?A whale purse sold 10.000 BTC yesterday and the price fell dramatically. You can track his activity here: bitinfocharts.com However it was expected that something would happen as soon as Bollinger Bands contracted close to each other. We faced with a dump. The price managed to consolidate a little below Fib 0.786 support level and now it is resistance. Probably it is the most important week in the BTC history as it is going to break the Triangle which was formed due to the largest crypto market crisis. If BTC price breaks the Triangle down for a very long time we will have BTC price around $5000 If BTC price breaks the Triangle upward it will quickly recovers to the previous heights. We think it will manage to go upward from the Triangle and there are several reasons for this: 1. Bullish XABCD pattern has just been formed 2. Stoch RSI and MACD confirms possibilities of growth 3. From the yesterday's dump price consolidated and is growing slowly However there are still some threats: 1. The price is at the edge of the lower Bollinger line. If it breaks down of it then the trend will be descending again. 2. Red line of ichi cloud is above green line which means there is a strong resistance 3. The price is below Fib 0.786 resistance level Conclusion: If the price manages to break Fib 0.786 resistance level which is around $8350 then we will have ascending movement. Combining it with the Bollinger bands indicator means that the price will move from the lower edge to the upper edge of the channel, hence it will head to $11900. This will break the Triangle upward and bring a new wave of growth.
BITFINEX:BTCUSD
by Skyrexio
10
BTCUSDT price movement forecastWhen rising wedge was formed there was not enough volume to break upward from it, hence the price moved down dramatically. At the current moment there are 2 possible scenarios. The first is a bounce back from 9800-10200 zone which is confirmed by Stoch RSI, Aroon and rising volume. The second scenario is breaking through psychological support zone and reaching Fib 0.786 support level where XABCD pattern will be finished and new wave of growth will start. All trades are very risky now we recommend to hold current portfolio till market stabilization
by Skyrexio