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Trade with gold 13/9Ethereum's Bounce: Ethereum's recent price increase may be due to retail traders buying during a price drop, but it's just one of many factors affecting its price. XRP's Support Loss: XRP losing the $0.5 support level is significant for sentiment. The next key support level is $0.45, and a failure to recover quickly could lead to further declines. Shiba Inu's Volume Surge: Shiba Inu's trading volume on Binance has spiked by 200%. This might be due to whales accumulating the token during the market downturn, and traders buying the dip in anticipation of a rebound. Remember that cryptocurrency markets are highly speculative and can be influenced by various factors, making them volatile and risky investments.
FOREXCOM:XAUUSD
by Hinata_Sumi
Back to the square oneNearly a month ago, federal judge Analisa Torres ruled in favor of Ripple Labs in its case against the U.S. Securities and Exchange Commission. The decision was quickly followed by bullish price action, and XRP rose almost to $1, with many investors claiming this to be only a beginning of a roaring bull market. However, fast forward to today, and XRP still has not managed to break the $1 mark. Instead, the token lost more than a third of its value following the initial spike right after the judge’s ruling. Furthermore, as if it was not enough, the SEC signaled this week that it would appeal the ruling, setting a step back for the victory. As a result, we think this might put a lid on the XRP’s price and lead to increased volatility, with the prospect of XRP falling lower as another round of legal battle drags on. Illustration 1.01 Illustration 1.01 shows the daily chart of MACD that is approaching the midpoint. If it breaks below it, it will be bearish for XRP in the short term. Technical analysis Daily time frame = Slightly bearish Weekly time frame = Bullish 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:XRPUSDShort
by Tradersweekly
31
FED comes up with new program, BTC surges past $30,000Yesterday, Bitcoin briefly surged past the $30,000 mark amid news about a new Federal Reserve program named Novel Activities Supervision Program. The statement on the central bank’s website says, “The Program will focus on novel activities related to crypto-assets, distributed ledger technology (DLT), and complex, technology-driven partnerships with nonbanks to deliver financial services to customers. The Program will be risk-focused and complement existing supervisory processes, strengthening the oversight of novel activities conducted by supervised banking organizations.” While this new program is positive for the industry, we often deem moves made on the news as mere noise. As a result, we have some doubt about the most recent action in Bitcoin and whether it will be sustainable. Our stance comes from the fact that there has not been any significant growth in the number of Bitcoin addresses (following Bitcoin’s breakdown below $30,000) with balances exceeding 1,000 BTC, suggesting that big players are still waiting on the sidelines. In addition to that, we saw a similar short-lived euphoria about a week ago when MicroStrategy announced that it would buy more Bitcoin worth $750 million, and Bitcoin temporarily broke above $30,000, only to fall again later. Right now, we are paying close attention to MACD on the daily time frame as it hovers slightly below the midpoint. If it fails to move above it, it will be bearish. However, if it manages to break through the midpoint to the upside, it will be bullish for the short term. Besides MACD, we also watch RSI and Stochastic on the daily chart. Both indicators are showing signs of growth, which is bullish. However, if they start flattening and reversing, it will be bearish. Overall, the trend is turning neutral, and we will likely see more choppiness ahead. Illustration 1.01 Illustration 1.01 shows the daily chart of MACD. Technical analysis gauge Daily time frame = Neutral Weekly time frame = Slightly bearish *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:BTCUSD
by Tradersweekly
27
Bitcoin is still at risk of falling lowerOn Saturday, we drew attention to the bearish crossover between the 20-day SMA and the 50-day SMA. As much has not changed since that, we have no reason to change our stance and continue to think there is a good chance of Bitcoin falling lower (to the area around $27,00). We will update our thoughts once new developments appear. Technical analysis gauge Daily time frame = Bearish Weekly time frame = Slightly bearish *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:BTCUSD
by Tradersweekly
18
Bearish crossover between 20 SMA and 50 SMAIn today’s update, we want to draw attention to a bearish crossover between the 20-day SMA and the 50-day SMA. This development confirms the presence of a very weak downtrend and bolsters the bearish case in the short term. Therefore, we will pay close attention to the support at $28,574. If it is taken out, then it is very likely we will see Bitcoin test $28,000. Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD. The yellow arrow indicates a bearish crossover between the 20-day SMA and 50-day SMA. Illustration 1.02 Illustration 1.02 displays the daily graph of BTCUSD and sloping support. If the support is broken to the downside, it will further bolster the bearish odds in the short term. Technical analysis gauge Daily time frame = Bearish Weekly time frame = Slightly bearish *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
20
Bitcoin is growing weakerIn a significant development overnight, Bitcoin plummeted below $29,000, marking a new low at $28,726. In the process, Bitcoin dropped below the 50-day SMA, which previously acted as a support (now it acts as a resistance). In addition to that, DM+ and DM- performed a bearish crossover on the daily time frame, and RSI, MACD, and Stochastic continued to develop bearish structures as well. We previously outlined these developments as ones strengthening the bearish case going forward. Now, we are paying close attention to the 20-day SMA and 50-day SMA, which are converging. If the shorter moving average crosses below the longer moving average, it will confirm a weak downtrend. As for our outlook on the price, it is highly possible that Bitcoin will continue lower, likely to the area around $27,000. If it manages to get there, then we will reassess our views. Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD and two simple moving averages. Yellow arrows indicate particular technical developments. Technical analysis gauge Daily time frame = Bearish Weekly time frame = Slightly bearish *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
11
Whales taking profits, BTC testing $30,000Bitcoin reached a new high of $31,818 last Thursday. The next day, we voiced concern over the potential trend reversal due to the falling number of Bitcoin addresses with balances exceeding 100 and 1000 tokens, implying that big players were taking profits (the same thing happened in April 2023 after Bitcoin rose above $31,000, preceding the drop below $25,000). Since then, Bitcoin has been continuously testing psychological support at $30,000. At the same time, technical indicators like RSI, MACD, and Stochastic started to develop bearish structures on the daily time frame, and volume remained relatively low. To support the bearish thesis in the short-term, we would like to see Bitcoin drop below support at $29,508. In addition to that, we would like to see MACD cross below the midpoint and DM+ and DM- converge (eventually performing a bearish crossover). Contrarily, to support a bullish thesis, we would like to see Bitcoin stabilizing above $30,000 in the next week or so (and some technical improvements on the daily chart). With regard to this possibility, we will continue to pay attention to the number of wallets with large balances. If the decline among big holders stops, it will be slightly positive (and very positive if the number starts to grow again, suggesting accumulation among big players). Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD and simple support/resistance levels. The red arrow indicates a decreasing volume over the past month, accompanying the rising price, which raises a question about the lack of buyers at elevated price tags (which is somewhat worrisome, considering that big players are selling). Illustration 1.02 Illustration 1.02 displays the weekly RSI. Interestingly, during recent highs in the price of Bitcoin, the RSI peaked only slightly below 70 points. A failure of the RSI to peak above 70 points is often associated with bear markets. Technical analysis gauge Daily time frame = Slightly bearish Weekly time frame = Slightly 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:BTCUSD
by Tradersweekly
25
Bitcoin is stuck between $30,000 and $31,500There has not been much going on in the cryptocurrency market, with Bitcoin being stuck between $30,000 and $31,500 for nearly a month now. During this time, the volume decreased, and indicators like RSI and MACD started to show signs of weakness on the daily chart. In addition to that, Bitcoin began to lag with gains behind the tech sector, which was previously exhibiting a high positive correlation with it. So, with the current choppiness in the price, we continue to wait for a breakout from the range. If Bitcoin breaks to the upside, it will be bullish for the short-term. Contrarily, if Bitcoin breaks below $30,000, it will be bearish. Illustration 1.01 Illustration 1.01 shows the bearish setup. Technical analysis gauge Daily time frame = Slightly bullish (with signs of exhaustion) 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:BTCUSD
by Tradersweekly
29
BTC dominance, correlation with tech, and uncertain outlookBitcoin has been holding up above $30,000 for multiple days. At the same time, the number of large holders began to increase again (slightly), suggesting that whales are waiting for better prices and not selling yet. Overall, that is quite positive, but there are still a few things to watch out for that can cause the rally to reverse quickly. As a result, we are paying close attention to the daily chart, where several technical indicators show little signs of exhaustion. For example, MACD is flattening (potentially leading to a bearish crossover between the MACD and signal lines), RSI is struggling below 70 points, Stochastic points to the downside, and volume is very low. Ideally, for Bitcoin to continue higher, we would like to see all these components start rising again, with RSI breaking above 70 points; in such a scenario, we would expect the breakout above $31,458 and potentially $32,000. However, if RSI fails to cross 70 points to the upside in the next few days, it will be bearish for the short-term; the same will apply to the falling Stochastic and MACD. Besides watching these technical indicators, we also look at Bitoin’s market dominance and correlation with the U.S. tech sector. In regard to market dominance, Bitcoin has been taking away a market share from its competitors for the past few months. There have been numerous factors contributing to this situation, with one being regulatory scrutiny of altcoins. We believe this trend will persist in the next few months, with the U.S. Securities Exchange Commission labeling more assets that are now deemed “cryptocurrencies” as “securities,” sparking further capital outflow from the altcoin market. In our opinion, that will help Bitcoin solidify its first place in the cryptocurrency market (and going into the future). Now, in relation to Bitcoin’s correlation with the tech sector, we saw that in late May 2023, these two markets started to decorrelate slightly. This fact has been reflected in the correlation coefficient shown in Illustration 1.03. However, when Bitcoin rose above $30,000 in late June 2023, the correlation coefficient began to tick up. Considering that the U.S. stock market valuations seem to be stretched, we think it would be prudent to watch out for what is happening in the tech sector, as its weakness can once again weigh on the risk assets like Bitcoin. Illustration 1.01 The picture above displays the daily chart of BTCUSD. The green and red arrows show the divergence between the price and RSI from January 2023 until April 2023. We want to point out how RSI does not show significantly more strength (during the most recent rebound in Bitcoin’s price) compared to the mentioned period. Illustration 1.02 Illustration 1.02 shows the weekly chart of BTC.D, representing Bitcoin’s market dominance. Illustration 1.03 Illustration 1.03 portrays the daily chart of BTCUSD. Below the main chart is the correlation coefficient. It can be viewed that the positive correlation between Bitcoin and Nasdaq 100 Index started to strengthen in late June 2023. Technical analysis gauge Daily time frame = Bullish (with signs of exhaustion) 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:BTCUSD
by Tradersweekly
1
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by MosFLI
Selloff is impendingYesterday, Bitcoin finally broke below $25,800 and established a new low at $25,389. This move came amid our recent speculation about Bitcoin potentially reversing the short-term/medium-term trend (from bullish to bearish). This fact is being reflected by Bitcoin making lower troughs and lower peaks after hitting $31,000 in April 2023. Due to that, we do not have any reason to change our bearish bias beyond the short term. Accordingly, we maintain our price targets of $15,000 and $13,000. At the moment, we are paying close attention to the support at $25,270. If the price takes out this level, it will further bolster a bearish case in the short-term/medium-term. In addition to that, we are also watching RSI, MACD, and Stochastic on the daily chart; all of them are currently pointing to the downside, which is bearish. In fact, if RSI breaks below 30 points, it will likely be accompanied by significant selling pressure. Therefore, we are raising a voice of concern over the impending selloff in the cryptocurrency market. Technical analysis gauge Daily time frame = Bearish Weekly time frame = Slightly bearish *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
22
Uncertainty looms over the price of BitcoinOver the weekend, Bitcoin took off and broke above $27,666. Then, yesterday it reached a high of $28,452. However, Bitcoin failed to hold this level for an extended period and quickly faltered below the $28,000 price tag. What caught our attention is that Bitcoin fully retraced to the 50-day SMA, which successfully halted a buying spree. Furthermore, MACD and Stochastic started to reverse their direction to the upside, and DM+ and DM- performed a bullish crossover on the daily time frame. As a result, these developments leave us with a neutral outlook for the short-term/medium-term. To support a bullish case (for the short-term/medium-term), we would like to see Bitcoin break above $28,500 and MACD and Stochastic continue rising on the daily chart. Conversely, to support a bearish thesis, we would like to see Bitcoin struggling to take hold of the $28,000 level and fall below $27,666; in addition to that, we would like to see DM+ and DM- start converging with MACD, Stochastic, and RSI reversing to the downside. Illustration 1.01 Illustration 1.01 displays the daily chart of BTCUSD. The yellow arrow indicates the price retracement toward the 50-day SMA. Technical analysis gauge Daily time frame = Neutral Weekly time frame = Neutral/Slightly bearish *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:BTCUSD
by Tradersweekly
11
Waiting for the trend reversal to be confirmed or refutedDuring the weekend, Bitcoin's value slipped under the $27,000 mark. Despite that, the overall trading environment was quiet and without any significant technical developments that we could point to on Bitcoin’s chart. Because of that, we just continue to wait patiently for our thesis to be confirmed or refuted. To confirm the thesis about Bitcoin reversing short-term/medium-term trends (and finding increasingly more resistance when attempting to reclaim $31,000), we would like to see it drop below $25,800. Contrarily, to refute this proposition, Bitcoin would have to break above $27,666 (and then continue testing the resistance between $28,000 and $28,500). As for our general stance, it remains unchanged. We continue to think that the past six months of Bitcoin’s rally merely represent the most deceitful bear market rally up to date. With that assessment, we maintain price targets of $15,000 and $13,000. Technical analysis gauge Daily time frame = Bearish Weekly time frame = Neutral *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
20
Meme coinsIntroducing Meme-Coin Perspectives: Discovering the Art of Folly. Are you familiar with the ubiquitous X's on Pepe, Doge, Shiba, and the like? These symbols have permeated the world of meme-coins, capturing the attention of many. Now, let's delve into a captivating speculative concept known as the "Big Fool's Theory." Picture this: you knowingly acquire something seemingly worthless, fully aware that a bigger fool will emerge to purchase it at a higher price. In simpler terms, you anticipate someone eagerly buying an unnecessary wrapper at an exorbitant cost. What lies in store for those who embark on this venture? The allure stems from witnessing numerous individuals amassing fortunes out of thin air. As a result, a fiery blend of FOMO and curiosity engulfs the hearts of onlookers, compelling them to impulsively dive into the realm of memecoins. They yearn to emulate someone else's triumph or, perhaps, acquire a memecoin that has been resold countless times, now soaring at its zenith. Amusingly, some proponents extol the virtues of these whimsical tokens. When questioned about the benefits of such projects or their potential for growth, the answer is often a resounding, "someone else will buy." This prompts us to ponder: how does this fundamentally differ from a casino? In conclusion, the question remains: Can one truly profit by embracing the Big Fool's Theory, banking on the existence of a fool willing to pay a higher price? The resounding answer is yes. Yet, pause for a moment and contemplate: Could you, in turn, become that very fool? Best regards EXCAVO
Editors' picks
Short
by EXCAVO
52
Ribbit: $0.000 000 0 275 | one Meme to Link em All yes.. phase 3 or 4 in the playbook of the issuer is to integrate other meme coins and DOMINATE the space kinda like how LiNK aggregates or collects big data for curation or how OPEN Ai ChatGPT sucks all the data across the world wide web and turns into something COOL depressed for allocation playing dead for mis direction fair launch at 100% float pre arranged for designated members of community and believers Ribbit it GOOD -- Cap: $11M Designated Dealer: Bitget Stabilizing Agent" MEXC ETH wallet: 0x0577d84512c5b834F9FB4a4cA5b9fCd3f18f2351 - note: exchange PETS (coins) in the meme sector go to $300M to $500M in one cycle
R
by senyor
4
Binance halts BTC withdrawals and spooks the marketBitcoin futures closed slightly below the $30,000 mark (at $29,910) last Friday. However, the price took a nosedive over the weekend as Binance temporarily halted Bitcoin withdrawals and transfers, citing an overwhelming number of pending transactions. On Monday, Bitcoin futures opened at $29,105 and continued lower toward the $28,300 price tag where they currently trade. We pay close attention to MACD on the daily time frame, which continues to develop a bearish structure. In addition to that, we observe volume levels, which are considerably lower compared to a recent period when Bitcoin was moving sharply higher (in so-called spikes). That is an interesting development as the addresses with more than 100 and 1000 Bitcoins in the balance are not seen growing in number in the past two weeks; meanwhile, the number of addresses with much smaller balances continues to grow, suggesting that retail continues to accumulate. We previously expressed our beliefs that it is very likely that we will see a massive rag-pull being played on retail investors, and that continues to be the case. Our stance remains unchanged as we believe the most deceitful bear market rally continues to unravel. Accordingly, our price target for BTCUSD stays at $15,000 and $13,000. Illustration 1.01 Illustration 1.01 displays the daily chart of Bitcoin's continuous futures. If the price breaks below the sloping support, it will bolster the bearish case in the short term. The same applies if MACD performs a crossover below 0. Illustration 1.02 Illustration 1.02 displays the daily chart of BTCUSD across various exchanges. We would like to point out the similarity in volume trends on all these exchanges. Volume dropped significantly compared to the two previous major legs up (from around $17,000 to $25,000 and $19,500 to $31 000). Illustration 1.03 The picture above shows simple support and resistance levels derived from peaks and troughs. Technical analysis Daily time frame = Neutral Weekly time frame = Neutral Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSD
by Tradersweekly
19
Bitcoin enters proving groundsYesterday, we noted that a breakout above the Sloping resistance and 29 380$ would be bullish for Bitcoin in the short term. What led us to this quick assessment was the similarity of the pattern found on the 1-minute chart, which seemed very familiar to us. It was, once again, a quick spike in the price within a short interval (very similar to the ones we showed previously on 1-minute graphs). Shortly after that, the price broke to the upside, bringing Bitcoin to a critical zone above 30 000$. Interestingly, this move precedes the start of earnings season in the banking sector, which helped to prop up the price recently with the crisis among regional banks. While Bitcoin’s reaction to the crisis might be considered the first potential sign of maturing and gaining more functions (than just being a speculative vehicle), let’s not forget that it still faces many obstacles that may derail it from the intended path. These obstacles include a lack of the regulator’s clarity on its future plans, especially as central banks attempt to develop their own digital currency (CBDC). For example, there might be a potential cryptocurrency crackdown in the form of restricting money transfers to/from cryptocurrency institutions or any other forms that will make it very inefficient for a consumer to use them. Furthermore, the U.S. government still plans to unload its stash of more than 41 000 Bitcoins seized in connection to the Silk Road bust. This amount might not seem as much compared to the daily volume. Although we think this action's timing is also crucial and something that many people seem to underestimate; illiquid markets require less “firepower” to move the price (it applies to both directions). In addition to that, high-interest rates finally start to manifest their impact on the consumer, for whom it is harder to service debt and pay for goods with elevated inflation. As a result, this might put many people in a position where they will have to decide whether to pay bills and get food or hold on to the cryptocurrency stash (rising unemployment will also contribute to this). With these issues and many more, we think it is still premature to call the winning shots. Because of that, we will now focus on the area between the psychological level of 30 000$ and 32 951$ (which acted as support in early May 2022). To abandon our thesis about the bottom not being in, we would like to see Bitcoin consolidate in this area like it did around 28 000$ (just over the past two weeks). Furthermore, we would like to see a continuous build-up in volume accompanying higher prices. Then, we would also want to see a breakout above the zone, which would greatly diminish the odds of our thesis about Bitcoin retesting its 2022 lows. To support our bearish thesis, we would like to see Bitcoin struggling to hold above 30 000$ and a lack of volume in the market. Illustration 1.01 Illustration 1.01 displays the 1-minute chart of BTCUSD. The yellow arrow indicates the first anomaly. We previously said that similar moves often kept accompanying the price to new highs, especially during the weekend or shortly after the futures market close (in generally illiquid markets). Illustration 1.02 Illustration 1.02 shows the 1-minute chart of BTCUSD. The second anomaly occurred right after the futures market opened, where Bitcoin jumped by 500$ within the first three minutes of trading. Technical analysis Daily time frame = Bullish Weekly time frame = Bullish Illustration 1.03 The picture above shows the daily chart of BTCUSD. The yellow rectangle shows the critical zone between 30 000$ and 32 951$. 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:BTCUSD
by Tradersweekly
38