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BTC Hits New Support Level at $24800Introduction: In the ever-volatile world of cryptocurrency, Bitcoin (BTC) has recently encountered a significant shift as it reached a new support level at $24800. This sudden development has raised concerns among traders, prompting a need for caution and careful evaluation of the market conditions. In this article, we will delve into the implications of this support level and emphasize the importance of waiting for clarity before resuming Bitcoin trading. The Importance of Support Levels: Support levels play a crucial role in technical analysis, indicating a price point at which an asset is expected to find buying interest and reverse its downtrend. They act as a safety net, preventing prices from plummeting further. The recent establishment of a support level at $24800 for Bitcoin suggests a potential stabilization in its value. However, it is essential to remember that these levels are not guarantees but indications of possible reversals. The Concerning Tone: Traders, we find ourselves in uncertain times. The cryptocurrency market has always been known for its volatility, and the recent developments surrounding Bitcoin only add to the confusion. As we navigate through uncharted waters, it is crucial to approach this situation with a concerned tone. Instead of hastily jumping into trades, we must exercise patience and wait for clarity to emerge. Why Pause Bitcoin Trading? Given the current circumstances, it is prudent to pause Bitcoin trading until we understand the market's direction. Here are a few reasons to consider: 1. Market Sentiment: Establishing a support level at $24800 is a positive sign but does not guarantee an immediate upward trend. Assessing market sentiment and observing traders' reactions to this new support level is crucial before making any hasty decisions. 2. Volatility and Risk: Bitcoin's recent volatility has left many traders on edge. Sudden price swings can result in significant losses if not approached with caution. We can minimize the risks associated with uncertain market conditions by pausing trading. 3. Clarity is Key: Waiting for clarity is essential to make informed trading decisions. It allows us to evaluate the market trends, monitor price movements, and analyze the impact of external factors that may influence Bitcoin's trajectory. We can avoid impulsive actions driven by fear or uncertainty by exercising patience. The Call to Action: Traders, in these uncertain times, must prioritize caution and prudence. It is crucial to continue pausing Bitcoin trading until clarity emerges and a clear upward trend is established. By doing so, we can mitigate potential risks and make informed decisions based on market stability. Remember, the cryptocurrency market is highly unpredictable, and impulsive actions can lead to significant losses. Take this opportunity to educate yourself, stay updated with market news, and seek guidance from trusted sources. Together, we can navigate this challenging period and position ourselves for success when the market stabilizes. In conclusion, let us exercise patience and restraint until the market provides a more straightforward path. We can make informed decisions and protect ourselves from unnecessary risks by waiting for clarity to show a definitive upward trend. Stay informed, stay cautious, and most importantly, stay resilient. Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always conduct your research and consult a professional before making investment decisions.
BITSTAMP:BTCUSDShort
by bryandowningqln
Bitcoin Reaches Close to Death CrossI write to you with a cautious tone as a significant development is occuring in the Bitcoin market: the dreaded "death cross." As many of you may already know, the death cross is a technical pattern that occurs when an asset's short-term moving average crosses its long-term moving average. In simpler terms, it signifies a potential shift in market sentiment from bullish to bearish. Unfortunately, our beloved Bitcoin has just experienced this ominous event. While it is crucial to acknowledge that technical analysis is not always an accurate predictor of future price movements, the death cross has historically been associated with increased selling pressure and a potential downtrend. This pattern has caused concern among traders, prompting us to take a momentary step back and reevaluate our strategies. Considering this development, I encourage you to exercise caution and consider pausing Bitcoin trading. It is essential to reassess your risk tolerance, evaluate your investment goals, and diversify your portfolio to mitigate potential losses. Remember, preserving capital is just as important as generating profits. As seasoned traders, we understand the allure of cryptocurrencies and the potential for significant returns. However, it is crucial to remember that the market is highly volatile and subject to rapid changes. Taking a momentary pause to analyze the situation and gather more information can be wise. I urge you to stay informed about the latest market trends, news, and expert opinions. Consult financial advisors or trusted sources to gain insights and make informed decisions. Remember, knowledge is power in the world of trading. While feeling uncertain during such times is natural, it is also important to remain level-headed and disciplined. As the saying goes, "The market is always right." By exercising caution and adapting our strategies accordingly, we can navigate through these challenging times and position ourselves for future opportunities. In conclusion, I encourage you to pause Bitcoin trading, reevaluate your approach, and gather more information before making any hasty decisions. Let's take this moment to reflect, learn, and adapt our strategies to the current market conditions. Together, we can navigate these uncertain times and emerge stronger.
BITSTAMP:BTCUSDShort
by bryandowningqln
BITCOIN--> Waiting for the last crash 3 years We will compare them to each other and they are 2015 , 2019 , 2023. and we use 200 ema on all these years. 🔸 let's begain with 2015 - we can notice that after that retest ... price breakout the 200 ema... we will find that correction reach about 23% before bullrun as shown in the chart. - this breakout and start of correction to the lowest point was in august 🔸 we can notice that the same with 2019 - price breakout 200ema ,,, retest ,,, make correction but this time reach about 53% before bullrun. -- this breakout and start of correction to the lowest point was in september 🔸 is this scenario repeated now in2023? lets see..: -breakout 200ema and trading above ,,, several times of retest,,, and now breakout the 200ema and trading below a few days ago... according to 2015, 2019 scenario shown in the chart we can expect one of these 2 levels is the bottom (20k)or(12k) then start the bullrun. -- this breakout of 200EMA and start of correction happen in august as will. This is not coincidence, my friend... it really happen as u see in the chart. tell me in the comment wich scenario u recommend to happen.? 🔸according to that i expect there is a last drop will happen and this will be in the Q4 then start bullrun...then u have a good point to buy . Dont forget to support us with ur like, comment and follow for more updates🎯
BITSTAMP:BTCUSDShort
by ceciliones
56
Bitcoin (BTCUSD) price has resumed its declineBTCUSD The price of Bitcoin (BTCUSD) traded with noticeable negativity one day, reaching the $27,000.00 barrier, reinforcing expectations that the bearish trend will continue to dominate during the coming sessions, recalling that our main awaited target is at 26640.85. The current positivity of the Stochastic indicator may cause some temporary sideways fluctuation before resuming the expected downward bias, which will remain in place provided it remains below the 28325.00 level. The expected trading range for today is between the support 26600.00 and the resistance 27500.00
BITSTAMP:BTCUSDShort
by ElenaMayi
2
BTCUSD US Federal & 4H (Pivot Price: 27293)BTCUSD US Federal The Federal Reserve this month stepped up scrutiny of banks' involvement in cryptocurrency assets, in the latest move by US regulators to curb activity in the US crypto industry. The US Federal Reserve said that it has put in place a program to strengthen oversight of the activities of the banks it supervises, which are engaged in providing services related to digital assets and the crypto industry. stabilizing above 27293 will support rising to touch 28287 then 29064 then 29840 stabilizing under 27293 will support falling to touch 26003 the 24694 Pivot Price: 27293 Resistance prices: 28287 & 29064 & 29840 Support prices: 26003 & 24694 & 23324 timeframe: 4H ❤️Please, support my work with like, thank you!❤️
BITSTAMP:BTCUSDShort
by Evar_Mayi
Bitcoin to 21kThe weekly chart does not look good for Bitcoin. Now that we have only one more day in this weekly candle, I highly doubt that it will end up in the green. This basically means that the candle is going to close below resistance. If that is the case, then I am most certain that the most recent daily cycle top happened at day 12 of this current cycle. This means that Bitcoin is most likely going to experience a decline in september and at least for the first half of oktober. This could be a good entry for the folks who missed out on the 15k lows of December last year.
COINBASE:BTCUSDShort
by FetchTeam
Bitcoin is getting Ready to Break the 🟢Support Zone🟢(15Min)💡After coming below the Resistance Line , Bitcoin violated the scenario of re-attacking the 🔴 Resistance Zone($26,980-$26,350) 🔴. 📎Bitcoin has formed a Descending Channel in the last few hours. 🌊In terms of the structure of Elliott waves , Bitcoin is completing its 5 descending waves inside the descending channel so that the 3rd wave was completed in the lower line of the descending channel. 🌊Bitcoin is currently completing wave 4 . 🌊Most likely, wave 4 will be completed in 🟡 Price Reversal Zone(PRZ) 🟡. 🔔I expect wave 5 to be completed below the 🟢 support zone($25,870-$25,720) 🟢. 📚 Educational Tip : When wave is extended, wave 1 and wave 5 tend toward size equality ( 100% ) or 61.8% relation. 📚 Educational Tip : Since the structure of wave 2 was simple ( Zigzag ), we can expect the structure of waves in wave 4 to be Complex or Triangle (time break). -------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Whales and Sharks Accumulated $300 Million in BTC Since the Mid-August Crypto Crash. Bitcoin (BTC) Should Hit $135,000 After Halving, Says Pantera Capital. Bitfinex Turkey offers zero-cost deposits via local banking giant. Ripple Emerges Among Top 100 Companies That Care About Employees. 🌐➖ Negative News ➖🌐: Bitcoin (BTC) Will Crash Like the Stock Market in 1930, Bloomberg Analyst Predicts. -------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
59
BTCUSD DailyThere re 2 posibilities tht i have in my analysist. Red path and Blue path. Red Path : not able to break from nearest demand area, then go up until nearest supply area, then goes down again to retest demand area on 265xx Blue Path : able to break nearest demand area then go to nearest support or next demand area. after that, it will bounce up to supply area around 298xx, then will go down again to 171xx with a couple of sideways ofcourse. overall, it's starting to show the downtrend. use confirmations if u wanna buy or sell. don't forget stop loss.
BINANCE:BTCUSDShort
by Dissy_Ardjani
The Bitcoin Price Dilemma: A Concerning Situation for TradersIntroduction: The cryptocurrency market has recently witnessed a tumultuous ride, with Bitcoin (BTC) no exception. As traders, staying informed and vigilant about market conditions is crucial. The BTC price is trading below the Simple Moving Average (SMA), further exacerbated by negative HOLD rates. This article aims to shed light on this situation and urge traders to monitor potential low support levels below the $20,000 mark. The BTC Price vs. SMA: The Simple Moving Average (SMA) is a widely used technical analysis tool that helps traders identify trends and potential support or resistance levels. When the BTC price falls below the SMA, it often indicates a bearish sentiment in the market. Currently, Bitcoin is experiencing this very scenario, raising concerns among traders. Negative HODL (also known as Holding) Rates: HODL rates, which reflect the interest earned by holding cryptocurrencies, are essential in determining market sentiment. Negative HODL rates imply market participants are less inclined to have BTC, potentially increasing selling pressure. This further contributes to the downward pressure on the BTC price. The Call-to-Action: Given the current market conditions, traders must exercise caution and closely monitor potential low support levels below $20,000. While Bitcoin has shown resilience in the past, it is essential to remain proactive and adapt to changing market dynamics. Here are a few steps you can take: 1. Stay Informed: Keep a close eye on market news, technical indicators, and expert opinions. Stay informed about any significant developments that could impact the BTC price. 2. Utilize Technical Analysis: Leverage technical analysis tools, such as SMA indicators, to identify potential support and resistance levels. This can help you make informed trading decisions based on market trends. 3. Diversify Your Portfolio: Consider diversifying your cryptocurrency holdings to mitigate risk. Explore other promising cryptocurrencies or alternative investment opportunities that align with your risk appetite. 4. Seek Professional Advice: If you are uncertain about your trading strategy or need guidance, consult experienced traders or financial advisors specializing in cryptocurrencies. Their expertise can provide valuable insights and help you navigate through uncertain times. Conclusion: The BTC price trading below the SMA and negative HOLD rates is concerning for traders. It is imperative to closely monitor potential low support levels below $20,000 and adapt your trading strategy accordingly. You can better navigate these challenging market conditions by staying informed, utilizing technical analysis, diversifying your portfolio, and seeking professional advice. Remember, being proactive and well-informed is vital to making sound trading decisions. Keep a watchful eye on the market and stay alert. Together, let's navigate this challenging phase and make informed decisions to safeguard our investments.
BITSTAMP:BTCUSDShort
by bryandowningqln
Bitcoin is making the 🚩Contracting Triangle🚩(15-MIN)⏰🚩Bitcoin seems to be forming a Contracting Triangle . 🔔I expect point E of the Contracting Triangle to complete after the next Zigzag correction is completed, and then Bitcoin will start to fall to the lower line of the Contracting Triangle. -------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Bitcoin’s Flash Crash to FWB:25K : Long-Term Holders Unfazed by Market Panic. PayPal Stablecoin PYUSD Trading Launches on Major US Exchange. Crypto Market Cap To $145 Trillion: Wall Street Analyst Says XRP Is The Coin To Hold. Oman Introduces a Crypto Mining Center Valued at $350 Million (Report). New asset manager Empowered Funds has filed to list three Bitcoin futures ETFs. Top UK university partners with AI startup to analyze the crypto market. Bitcoin (BTC), largest crypto, might be getting closer to 'last buying opportunity' before radical growth phase. 🌐➖ Negative News ➖🌐: ‘Disappointing’ ETF Decisions By SEC Blamed for Bitcoin Selloff. Vitalik Buterin stirs market uncertainty with $1M Ethereum transfer to Coinbase. Deleted tweet indicated suspension of EUR transactions via SEPA system. Heavy short position by Michael Burry on S&P500 and NASDAQ. -------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
9
BITCOIN More Downside Expected!Happy Monday Traders & Investors As we can see Bitcoin has been ranging within this ascending channel since over a year now. After the double top formation in the 31k to 32k area, and the break of the previous uptrend that I mentioned in my previous post. (), BTC is making it's way back down to the support of the ascending channel. There are two options as a likely path for Bitcoin to reach the 21.5k to 22.5k area. Option A: Bitcoin will bounce from the current support where BTC found support formed by a strong historic support and resistance area and the 38.2% Fib. Retracement Level of the Uptrend from 15.5k to 31.8k. A logical target for that bounce would be the area that Bitcoin has recently broken down from between 28.5k and 29.2k which also lays right between the 100 SMA (green) and the 50 SMA (black) From that area Bitcoin will then likely make it's way down to the target area betwen 21.5k and 22.5k Option B: In this scenario Bitcoin will find downside inmediately after breaching the current support level to the downside abd make it's way down to the target area betwen 21.5k and 22.5k on a more direct path. If Bitcoin finds a bounce in the target area, a strong rally with a price target of at least 35k comes into play, however if the price drops and confirms below 21.5k the price correction could extend towards the area between 20k and 18.5k I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise. As always , A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! Happy Trading ✌🧡📈
INDEX:BTCUSDShort
by BitcoinEasyIO
Bitcoin 🗺️Road map🗺️for 300 Days Before Halving 2024❗️Hi everyone👋 (Reading time less than 7 minutes⏰). First, I have to apologize for the busy chart, but all the lines were really needed.😊🙏 📚As you know, Bitcoin has created an All-Time High(ATH) between both Halvings, and after the confirmation of Bitcoin's ATH, it has started a downward trend . In general, Bitcoin has started an upward trend about 500 days before each halving , although this upward trend is not stable and has undergone correction . 📚Bitcoin seems to have started a trend similar to 500 days before the 2020 Halving, and if Bitcoin wants to have a correction similar to the 2020 Halving , this correction should start at 300 days before the 2024 Halving . In this post, I want to give you reasons that show that the movement of Bitcoin until the 2024 Halving will be very similar to the 2020 Halving. So stay with me.🙏 🔔The reasons for the start of Bitcoin Correction : Bitcoin started an upward trend 500 days before the 2020 Halving, and it is interesting to know that Bitcoin has started an upward trend 500 days before the 2024 Halving. Bitcoin started a correction 300 days before the 2020 Halving, and now we are 300 days away from the 2024 Halving, and Bitcoin is expected to start its price correction in the coming weeks. The conditions of the RSI indicator are very similar in both movements, and the Bitcoin correction in both movements has started with Regular Divergence (RD-). (Note that currently, Bitcoin has not managed to enter the Overbought area, and this indicates that the Bitcoin correction may be a little deeper than the 2020 Halving movement).👇 🔔Now let's look at the current situation of the Bitcoin chart. (I will point out the reasons for the correction). Bitcoin has been moving in a descending channel on the weekly time frame for more than a year and a half. And currently, Bitcoin is above the descending channel, and Bitcoin will probably react to this area. Bitcoin is attacking the 🔴 heavy resistance zone($32,420-$28,900) 🔴 for the second time. It is interesting to know that the 🔴heavy resistance zone🔴 was broken after the fourth time when it was playing the role of the 🟢heavy support zone🟢. So, it is not far from expecting that the second attack on the heavy resistance zone will ❌ fail ❌ and Bitcoin will go down again. Also, Bitcoin is moving near 100-Simple Moving Average(100-SMA) , and this moving average plays the role of a dynamic resistance for Bitcoin. Plus, Bitcoin is moving in the 🟡 Time Reversal Zone(TRZ) 🟡. In the daily time frame, the Regular Divergence (RD-) between volume and price can be seen between two consecutive peaks. 🔔As a result, I expect Bitcoin to start its correction in the coming weeks, and this correction will deepen after the uptrend line breaks. Finally, I think Bitcoin will fill the 🔵 lower CME Gap 🔵 and then start its upward trend again (around $20,000 ). According to the explanation above, will the movement of Bitcoin be similar to Halving 2020❗️❓ I would be happy to share your opinion with me in the comments 🙏. Bitcoin Analyze ( BTCUSDT ), Weekly time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
41