Get started

Cryoto

Bitcoin: Price Still Moves Within a Bearish StructureSince early 2021, Bitcoin has been moving in an approximate range of $29000 ~ $66000. The price movement has been divided into clear bullish and bearish segments. In each segment, we can identify continuous chart patterns supporting each movement.  As we previously forecasted in our BTCUSD analysis, the price has broken its bearish flag channel and fallen to the bottom support level, reaching a new low of $27000. This is a very strong support area and we expect a period of consolidation from this level. Currently, the price is still moving within a bearish segment. In the chart, we can see the price has formed a bearish pennant channel after a strong bearish impulse. This is a clear bearish structure; therefore, we expect at least another retest of the recent low of $27000. For a bullish reversal to occur from the support level, we need to first see a reversal pattern being formed. Then price breaking above the pattern would suggest a possible reversal. Check out our previous cryptocurrency trading ideas below :)
by NicoBeau_Capital
WHY You should not be Bullish #BitcoinWHY I BELIEVE ITS TOO EARLY TO BE BULLISH ON BITCOIN AND WHY YOU SHOULD TOO. Since 26th December 2021 we can see that Bitcoin has been trapped in what I call the falling wage pattern which is between 52k higher high and 32k lower low. According to babypis, falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. The wage trend line has flagged off several times and now is the 2nd time for the bulls to retaliate by driving the bears to the resistance side. Now price action trapped the market in the middle. the bulls currently drive the trend to resistance line making it the 3rd time the resistance line would be tested which if the bears charges back, we would see the market much lower at the support at 36k I won't be surprised if that Happens as we can see the H4 RSI showing over bought. Moreso Horizontally zooming out, you can see the red rectangular shape showing that 51k and 39k has been an area of interest between the bulls and bears since July 30th even before the last 68k bull run. (After the first broke out in 2021 we saw an all time high and currently it's below the resistance line and the question is would we see another dipper market?.) 💡 IDEA : Bitcoin is yet to close above the wage pattern trend line therefore I don't believe the Bitcoin bull run has commenced until H4 candle close above 46,700 and retest the the trend line while holding the bull motion. Conclusion : if you believe that Bitcoin bull run has commenced, you can long it until another all time high is attained But if you are a rational trader. You can wait until the trend line is broken, Then can ride from any side of the breakout. How ever bear traders can open a position now at $42,940 and keep your sl at $43,670 which is 1.73% risk Tp at $36,360 which is 15.27% Profit. This is for educational purpose and not an investment advice. If you find this content helpful you can follow and upvote If you have a contrary opinion or another point of view I would be glad to hear it on the comment side. Thanks
Short
by Italkbet
4
BTC/USDT weekly analysis in 13th/Feb/2022Hi, crypto traders. Last week, the candle continued to go up and broke 1st target: 60MA and 44,500USD to the upper side. But after reaching 45,800USD, the price started to go down and already broke 5MA and 60MA to the lower side. Now the sequential order is as follows. 100MA (black) > 60MA (green) > 5MA (red) > the candle > 20MA (blue). If the candle goes up and breaks 5MA and 60MA to the upper side again, the trend will be uptrend. On the other hand, if the candle goes down and breaks 20MA to the lowr side, the trend will be downtrend. We shoud watch the next move carefully this week. Target points next week are as follows. ==Target Points== ◇BTC goes up: – 1st target: 43,000-44,000USD (Cross-point with 5MA & 60MA) – 2nd target: 45,800USD (The highest price in 10th/Feb/2022) – 3rd target: 48,000USD (Cross-point with 100MA) ◇BTC goes down: – 1st target: 40,000-41,000USD (Cross-point with 20MA) – 2nd target: 32,900USD (The lowest price in 24th/Jan/2022) – 3rd target: 30,000USD (A nice round number) Enjoy your trading.
by Bot_Muto
3