Page 25 | Btcusdtoday — Trading Ideas on TradingView

Bitcoin looking further Long side scenario level $7,000 XBTUSD Technical Overview: Trading Range: $6,430 - $6,788 Key Resistance: $6,630 - $6,676 - $6,743 - $6,788- $6,945 Key Support: $6,548 - $6,491 - $6,464 - $6,420 - $6,364 Technical Indicator: Moving Average: Simple Moving Average 100 ($6,570) & SMA 200 ($6,574) strong support for Bitcoin intraday. RSI: RSI lacks bearish momentum & strong support at RSI level 44.06, if it will break down than XAUUSD more down and vice-versa. Technical Trade Idea: Most Likely Scenario: Long XAUUSD $6,450-$6,485 strong Stop Loss $6,372 & target $6,620 - $6,676 in extension. Alternative Scenario: Short XAUUSD $6,350-$6,330 Strong Stop Loss $6,482 & target $6,258 - $6,194 in extension. Overall, The U.S SEC is expected to rule over another ETF proposal on September 30(Today). Bitcoin has been predicted to make a comeback towards the end of this year. Currently, the bulls are alert and are ready to spot all technical signals that will indicate the next swing towards $10,000. Bitcoin has experienced overstretching declines this year from the all-time high close to $20,000 to the current price at $6,756. In the recent months the tussle between the U.S Securities and Exchange Commission (SEC) and the firms seeking a Bitcoin exchange-traded fund ETF) has done more damage to the deflating crypto. The authority is expected to rule over another ETF proposal on September 30(Today). The SEC rejected the other ETFs on the grounds manipulation among other issues. Thanks YoCryptoManic

Should Bitcoin complete Bearish Flag pattern ??XBTUSD Technical Overview: Pivot: $6342 Day Trading Range: $6250 - $6630 Key Resistance: $6410 - $6450 - $6520 - $6585 - $6620 Key Support: $6364 - $6338 - $6281 - $6230 - $6150 Technical Indicator: Moving Average: Price is above SMA 55($6390) strong support & below SMA 100($6492) strong resistance for the day. RSI: Indicator show upside bias, moving above 50 level. Technical Trade Idea: Most Likely Scenario Short below $6342 with target $6300 - $6250 in extension. Alternative Scenario Long above $6342 with target $6450 - $6520 in extension. Overall, XBTUSD price action the recent range-bound behavior has formed a bearish flag pattern. Bearish flag pole is around $1000 from the top to the bottom for the pole, should the bears breakout, could force Bitcoin doing to the $5500 territory. Technically, given the mentioned flag patter formation, it does suggest XBTUSD could be vulnerable to a breakout to the downside. If playing by the textbook, the flag pole of the bearish flag is around $1000 in value, which could see a $1000 drop, should the bears pick up momentum and cause a breakout to the downside. Near-term support eyed at $6200-100. Resistance to the upside seen at the upper part of the flag and current range, $6600. Thanks YoCryptoManic

Bitcoin Eye targetting $6464 Today XBTUSD Technical Overview: Pivot: $6311.4 Key Resistance: $6354.5 - $6397.17 - $6431.5 - $6465.83 - $6542.43 Key Support: $6277.5 - $6243.17 - $6200.5 - $6157.83 - $6080.3 Technical Indicator: Moving Average: SMA200 ($6392.43) & SMA100 ($6452.78) Strong Resistance for Bitcoin today. RSI: RSI lacks downward momentum (above 50 level), forming a symmetric triangle, getting ready for BIG move. Most Likely Scenario Long position above $6311 with target $6397 - $6430 in extension. Alternative scenario Short below $6230 with target $6150 - $6080 in extension Overall, the upside for Bitcoin and the broader market were comments from the SEC Commissioner that were crypto friendly, the Commissioner stating that the government shouldn’t pin back the expansion of the cryptomarket by limiting the release of new crypto products. While U.S Commissioner Peirce is considered to be on the “For” side of the crypto camp, the comments were certainly supportive following a string of Bitcoin ETF applications being declined. As the markets prepare for the Mt.Gox flood of cryptocurrencies, a Bitcoin ETF approval and inflow of institutional money would be quite timely, particularly when considering the fact that institutional money should smoothen out the volatility, though ultimate influence may well reside with the Bitcoin whales. Thanks YoCryptoManic

Bitcoin, Still No Good News From EU Regulations Bitcoin Technical Analysis Day Trading Range: $6400 - $6755 Key Resistance: $6574 - $6653 - $6755 Key Support: $6488 - $6430 - $6372 Technical Indicators: MACD: MacD showing heavy volume in upside bias. Moving Avg: SMA50 ($6352.20) Strong Support & SMA100 ($6735.50) Strong Resistance for the day. Technical Most Likely Scenario: Long Above $6400 with target $6650 - $6780 in extension. Alternative Scenario: Short Below $6350 with target $6280 - $6200 in extension. Fundamental: Market anxiety over the EU Finance Ministers’ meeting on Thursday eased as the day progressed, supporting the 2nd half of the day rebound across the crypto majors, with the news wires silent on the discussions behind closed doors, fears of an intent to roll out heavy handed EU specific rules and regulations for the cryptomarket having contributed to the downward pressure through the first half of the week. No news was good news as far as investors were concerned, with any news that has trickled from EU Finance Ministers suggesting that intentions are not to cripple the market. Thanks YoCryptoManic