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Btcusdshort

Bitcoin Update 08.11.2023Analyzing BINANCE:BTCUSDT on a weekly basis is currently one of the simplest but also most effective tasks. This is because Bitcoin generally only fluctuates between support and resistance. In addition, it is fully compatible with the Fibonacci correction. Therefore, I can easily determine how far it will run. The fact that INDEX:BTCUSD has not made a significant movement for 1 week shows us that it will not end its 4-week run before hitting the $38 thousand level. But I cannot recommend anyone to buy here and this is definitely not a buying signal. Because one way or another, this short-term run has come to an end and therefore I am expecting a correction. When I applied a Fibonacci tool to see how far the correction would be, the level I saw was around $31k. This level is both an important support according to price action and the Fibonacci 0.5 level. It should not be forgotten that Bitcoin likes 0.5 much more than Fiboncci 0.618, especially in the weekly time interval. Therefore, I think it will return to the FWB:31K level after the $38k resistance is tested. This level will be a great buying opportunity for me. The FWB:31K level is also the follow-up level of the upward trend that has been continuing since the beginning of 2023. Therefore, a return from this level will also be an indicator that the trend continues. After buying at FWB:31K , my first target will be the $47200 level. I will not try to teach investment strategy to anyone here, but selling at resistances and collecting at supports is my own strategy and is suitable for my risk management.
INDEX:BTCUSD
by YavuzAkbay
Decreasing volume rings an alarm bellAs Bitcoin’s price action continues to grow erratic, we keep staying on the sidelines and monitoring the situation. Today, we would like to highlight one development that occurred yesterday when Bitcoin nearly hit $36,000. We are talking about the significant drop in the number of Bitcoin addresses with balances exceeding 100 BTC (remember, there was a massive jump in this number just shortly before the release of fake news about ETF approval, which took Bitcoin above $30,000). This event suggests that some of the big players are utilizing the opportunity to cash out their profits (in fact, the number has been trending down since around 23rd October 2023). Furthermore, while it does not mean Bitcoin has already topped, this development, combined with decreasing volume, rings an alarm bell for us as it indicates fewer people are willing to buy the asset at the current prices, making a case for trend reversal. With that said, we will pay close attention to RSI on the daily chart. To support a thesis about the trend reversal, we would like to see it break below 70 points. Simultaneously, we want to see a decline in MACD and Stochastic. Contrarily, to support a continuation of the rally, we would like to see an uptick in volume, accompanying the price higher. We will update our thoughts on the asset with the emergence of new developments. Illustration 1.01 Illustration 1.01 displays the daily chart of BTCUSD. Green and red arrows indicate a questionable relationship between the price and volume, which suggests fewer buyers are willing to buy the asset at such elevated price tags. Illustration 1.02 Illustration 1.02 shows the 1-minute chart of BTCUSD, illustrating the erratic start of the month for Bitcoin. Technical analysis gauge Daily time frame = Bullish Weekly time frame = Bullish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
19
Bitcoin Surges to $35,200: Crypto Market Optimism"Bitcoin's price has surged, reaching a 17-month high of over $35,200. This rapid increase of nearly $5,000 in just one day has pushed the total cryptocurrency market value beyond $1.24 trillion. As predictions about a Bitcoin ETF continue to rise, trading volume is nearing the $100 billion mark. Despite the upward trend, warnings about potential risks associated with late buy orders being erased by market makers have been issued. Analysts suggest that this market growth indicates a continued upward trajectory led by Bitcoin. Meanwhile, Steem, a potential alternative cryptocurrency, demonstrated significant potential with a 25% increase, outperforming Bitcoin's 12% rise. Investors are strongly advised to consider investing in Steem. Analyst James Stanley emphasizes the inverse correlation between DXY and BTC, predicting that upcoming Personal Consumption Expenditures (PCE) data on October 26, 2023, could significantly impact BTC prices.
BITSTAMP:BTCUSD
by Gwen_Humuna
#BTC/USD $42k by Dec 2023, Here's Why!! 🚀#Bitcoin Roadmap to $42,000 till December $2023!🚀 Let's consider two potential scenarios for Bitcoin's path until December 2023: 1. Bitcoin might drop to the lower $30ks and then experience a quick recovery to the $37k - FWB:42K range. 2. Alternatively, Bitcoin could surge to $37k and then retrace to the lower $30ks before making another push toward FWB:42K + level. In both cases, it seems that Bitcoin is on track to reach the FWB:42K level. Additionally, based on my Elliott Wave analysis, it appears that we may be approaching the 4th and 5th waves, followed by an ABC correction. These two scenarios could confirm my Elliott Wave analysis. Keep a close watch on the monthly closing prices; I'll provide updates on that. Be sure to bookmark this chart and follow me for future updates. Invalidation: If this entire movement turns out to be a deviation, possibly due to ETF manipulation above the $32,000 level. Remember, $32.3k is a critical level that Bitcoin needs to maintain on daily and weekly for the uptrend to continue. Please note that this is just my interpretation of the chart, and I could be mistaken. Always do your research. This is not financial advice. Do share if you like it. #Crypto
BINANCE:BTCUSD
by Cryptorphic
22
Bitcoin technical analysis _ 2023-10-26 Long position After breaking the resistance at the price of 24851 Entry 35170 The loss limit is 34,200 Risk Free 36145 Saving profit 37110 Profit limit 37645 ----------------------------------------------------- Short position After breaking the upcoming support and breaking the short-term uptrend line and also after breaking the important support at the price of 33645 Entry 33355 The loss limit is 34,200 Risk Free 32512 Profit limit is 31600
by Mohammad_Ak2310
📈Bitcoin weekly prediction, 23K or 30K?📉BINANCE:BTCUSDT COINBASE:BTCUSD Hello dear traders. If the price of Bitcoin stays above Bollinger midline, Bitcoin can continue the bullish scenario up to the target of $28,000 and then around $30,000. In this week, bitcoin price continues to move in an ascending channel (in yellow). ]f the price breaks the Bollinger midline, there is a possibility that the price will go down to the yellow area. Overall, in my opinion, as long as the price of Bitcoin does not fall below the Bollinger midline, there is a possibility that it will go higher. But if the price loses the yellow zone and the support of $23,000, the level of 22,500 to 21,500 will be a strong support for Bitcoin in the bearish scenario. ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🤑🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾🤑
by CrazyS
4
BTC SellGood evening everyone! Don't forget to put your thumbs up and write comment if you like the idea. #BTC = $35 000 The current rally is coming to a close. The formation of a turning formation and the beginning of the markdown of the asset are expected. Future fall goals: 1) $24 800 2) $19 500 3) $15 500 4) $12 500 DISCLAIMER: The opinion of the author may not coincide with yours! Keep this in mind and consider in your trading transactions before making a trading decision.
BITSTAMP:BTCUSDShort
by airstels
1
BTCUSD: Pent-up for years, trillions of dollars of institutionalAccording to a blockchain executive at professional services provider Ernst & Young (EY), Bitcoin is seeing strong demand from institutional investors but is still waiting for Bitcoin spot ETF approval to trigger a buying surge. EY global blockchain leader Paul Brody believes that Bitcoin is seeing a lot of pent-up demand from institutions due to US regulators not approving spot Bitcoin ETFs for years. Brody discussed the outlook for cryptocurrency adoption on CNBC's Crypto Decrypted on October 23, claiming that trillions of dollars of institutional money is waiting to join Bitcoin once the BTC ETF is approved.
BINANCE:BTCUSDShort
by Chart_MasterPro
2
Bitcoin Soars: iShares BTC Trust Listing Sparks RallyBitcoin (BTC) price is surging, gaining momentum after breaking through key weekly resistance. This increase has witnessed the leading cryptocurrency breaching crucial resistance barriers to set its sights on a high price target of $35,000. Bitcoin's price is on the verge of testing the $35,000 mark. BTC recorded a 17% increase in 24 hours, reaching a daily high of $34,741 on October 23rd. This surge was followed by a rapid decrease to the current price of $32,914, with further upward potential indicated as the Relative Strength Index (RSI) continues to show an upward trend. Increasing buying pressure could extend BTC's high momentum, aiming for the psychological level of $35,000.
BITSTAMP:BTCUSD
by Gwen_Humuna
BTC is a good short with all this hypeThere's a lot of hype around the BTC ETF right now, and with hype comes greed, and with greed comes price crashes. Institutional money won't be able to go into BTC until ETFs are approved and functional. We won't see big volume for a little while, so this recent move up is all expectation. We just touched a massive trendline, which goes back to the lows at the beginning of the year. We touched this trendline on March 11, again on June 16, and broke through August 17. (This made a Head and Shoulders pattern....) I've been a bear on Bitcoin because of this, but I expected a retrace to this trendline. If we don't break through (and confirm) above this line, I'm expecting a plunge to $20k. Besides, if you were a massive financial institution who wanted to get into Bitcoin through an ETF, wouldn't you want to depress the price before moving in? I'm expecting a crash before institutional money can move in.
Short
by tokentradertv
1