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Btcusdidea

BTCUSD 4June2023BTC medium term looks bullish. currently it could still be in the wave 2 period. although last week BTC managed to get out of the sideway area, but the range for prices to make corrections is still very wide. looking at the fibo retracement area, there is a SnD area right at the 0.236 level (the price has dropped 76% from the last bullish swing) in my opinion this area is quite dominant, although in the medium term BTC looks bullish but it is likely that wave 2 is still not complete and it could be that the price is heading towards the SnD area.
BITSTAMP:BTCUSD
by Hokusai_FX
2
BTC: Continue to go long, pay attention to 23K Last week, the economic data released by the United States was mixed, and the US dollar entered a period of volatile pullback. The monthly rate of durable goods orders in January recorded -4.5%, worse than the expected -4%, the largest decline since April 2020. The February ISM manufacturing PMI recorded 47.7, lower than the expected 48; However, the ISM service index recorded 55.1, stronger than the expected 54.5. Both PMIs suggest that US inflation may be more sticky than expected, which may support the future prospects of the US dollar's trend, but in fact, the US dollar index recorded a drop of nearly 0.7% last week. Although from the perspective of the US dollar and risk appetite, the price trend of Bitcoin (BTC) should have been boosted last week, unfortunately, there was negative news in the crypto circle last week. According to reports, the cryptocurrency bank Silvergate announced that it will delay the submission of its annual 10-K report for the 2022 fiscal year. Silvergate stated that "the company is currently analyzing certain regulatory inquiries and investigations related to the company." Immediately afterwards, many cryptocurrency companies and cryptocurrency trading platforms such as Coinbase, Circle, and Tether urgently announced the termination of business dealings with it. The news caused panic in the crypto circle and put pressure on the price trend of Bitcoin. The daily chart shows that the price of Bitcoin (BTC) fell sharply last Friday, breaking through the range of 23,000 to 24,000. It is currently holding steady near the upward support line of 22,000, which started on January 18, and there may be an opportunity for rebound correction in the trend. If it goes up, the initial resistance will focus on 23,000, and further up, the resistance will focus on the 20-day moving average range of 23,600 to 24,000. Continuing to break through will win the opportunity to challenge 25,000 again. Personal trading strategy: Enter the long position at 22,000-22,400, with the first target at 23,000 and the second target at 23,600. However, if it effectively falls below 22,000, it may usher in greater downside space, further down to 21,500 and 20,000. Therefore, it is necessary to set stop-loss strictly, and stop-loss promptly when breaking through the support. I will also continue to pay attention to changes in the market and give the latest strategies, please continue to pay attention.
Editors' picks
Long
by FlashTrades_
196
BITCOIN BTC Bearish Possibility, Not Much To See Here!Has BTC exhausted its recent rally? Top has rounded and formed, Making lower lows and lower highs, Hitting key resistance, Has failed to sustain 50K, Momentum indicators divergent, and could be following my wave analysis for a pullback. Still need to see price break 46.5k, 42k and 37k in my humble opinion. After that not much stopping it other than 23k and 16.5k Just a simple idea analysis. Not much to see here. Always be ready for any scenario!
BITFINEX:BTCUSDShort
by bhill
2
BTC/USDTBitcoin should have gone down because it had a divergence in rsi and had filled sell orders at 25k and also encountered heavy resistance. On the other hand, it was very good that the cme chat was also filled. If he can close today's close candle above the ma 100 curve, he can hope for a rise in the short term, otherwise he can go down to the purple box that I specified. At the moment, a full 5-wave Elliott pattern has also been observed, but the length of the 5th wave can change.
by mohsenomidy
#Bitcoin - thoughts out loud #1.Good afternoon, dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. In the New Year, we see positive dynamics, but this is not enough to index this movement as "successful". Therefore, in order to update local highs, we have to go even lower to gain positions at more favorable prices for ourselves (price range 15555-16666). Scenarios of possible development of the situation №1,№2 are relevant, but the market will settle everything by itself. If we consider the picture on the smaller time frames for a more detailed assessment of the market strength. Dear colleagues, on the 4H time frame, we see how the price was artificially held by professional operators. Pay attention to the first two processes (marked with a circle), we have a great volume, a great result in relation to each other, but the progress does not suit us, okay, we can ignore the progress. We go further and on the 3rd process there is a sign of local force on increased volumes, everything suits us perfectly. And the fourth, extreme situation (blue rectangle) highlighted bars and volumes, the question is why we observe an abnormal volume on the narrowing spread? My assessment of this situation is "WEAKNESS" but on the news background we can observe a false breakout of the highs and further depreciation of the instrument. Thank you all for your attention, I wish you success, and remember: Sometimes you win/sometimes you learn.
by WVitalievich
2