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Bitcoin's Support and Resistance, Navigating the Highs and LowsBitcoin is currently trading at $22,300 area with an RSI of 68.50. The 4-hour timeframe shows that the 0 fibonacci is at 19,549, the 0.5 fibonacci is at 21,105, and the 1 fibonacci is at 22,662. Additionally, the upper Bollinger band is at 22,555, the lower Bollinger band is at 18,900, and the middle Bollinger band is at 20,730. The volume oscillator is -0.70%, MACD is 266, and the stochastic oscillator is at 97. The 4-hour EMA 50 is at 21,456. Bitcoin recently rallied by 10% to reach $22,000. This indicates a bullish sentiment for Bitcoin and the crypto market as a whole. This can be seen in the current price of Bitcoin at $22,500, which is above the 4-hour EMA 50, indicating that the short-term trend is bullish. The FDIC is stepping in for Silicon Valley Bank, which indicates a positive move for the crypto market as it implies more institutional support for cryptocurrencies. This could lead to increased demand for Bitcoin, which may drive the price higher. However, the recent flash spike in the Bitcoin price to $50,000 on Binance, could be a warning sign of the crypto market's volatility. The sudden spike occurred after the USD Coin peg snapped, causing a chain reaction that resulted in a temporary price surge. This event highlights the importance of risk management in cryptocurrency investing. In conclusion, the current price of Bitcoin at $22,500 with bullish sentiment, increased institutional support, and growing adoption of cryptocurrencies are positive indicators for the future of Bitcoin. However, the recent flash spike and the volatile nature of the crypto market require investors to exercise caution and implement risk management strategies Bitcoin's key prices can be used to identify potential entry and exit points for traders. The 4-hour timeframe lower Bollinger band at 18,900 is considered a local support level, while the 4-hour timeframe 0.5 fibonacci at 21,105 is a solid support level that could attract buyers and provide a strong base. On the other hand, the 4-hour timeframe upper Bollinger band at 22,555 is a local resistance level, and the 4-hour timeframe 1 fibonacci at 22,662 is a solid resistance level. Breaking above the resistance levels could indicate strong bullish momentum, while breaking below the support levels could signal a bearish sentiment. It's crucial to note that these key levels are not fixed, and they may change with the market conditions. Therefore, traders should use them as a guide and combine them with other technical indicators and market analysis to make informed trading decisions. If the price breaks below the support levels, it could be a sell signal, while a break above the resistance levels could be a buy signal. Keeping an eye on these key prices can help traders to manage their risk and identify potential trading opportunities.
by MonoCoinSignal
27
SVB, Silvergate Collapse & Affect on CryptomarketHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. In a twist of events, an incident that happened within the banking realm created chaos for the crypto realm. I bet you didn't have that on your bingo cards for 2023... In the past few weeks, there have been two significant bank failures in the United States that have sent shockwaves throughout the financial world. The collapse of Silicon Valley Bank and Silvergate Bank has sparked concerns about the stability of the banking system and the future of the crypto industry. The failure of these banks highlights the fragility of the financial system and the challenges faced by institutions that operate in high-risk sectors like tech and crypto. Silicon Valley Bank ( SVB ) was closed by the FDIC on March 9 due to its heavy losses caused by the downturn in technology stocks and the U.S. Federal Reserve's aggressive plan to increase interest rates. The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the US Congress in 1933 to maintain stability and public confidence in the nation's financial system. The FDIC provides deposit insurance that guarantees the safety of deposits in member banks, up to a certain limit. In the event that a member bank fails, the FDIC will step in to insure deposits, provide assistance to depositors, and liquidate the failed bank's assets. The FDIC also regulates and supervises member banks, as well as conducts research and analysis on the banking industry. Silicon Valley Bank bought bonds using customers' deposits, but the value of those investments fell as interest rates rose. This is usually not a problem for banks, but Silicon Valley Bank's customers were largely startups that needed cash. Venture capital funding was drying up, and companies were tapping their existing funds deposited with Silicon Valley Bank, which was at the center of the tech startup universe. In response to this liquidity crisis, SVB sold a $21bn bond portfolio at a loss of $1.8 billion. The bank attempted to fill the solvency hole with a combined equity offering of $2.25bn on March 8, but the attempt failed. This is the largest failure of a financial institution in the United States since Washington Mutual collapsed more than a decade ago. The closure of SVB had an immediate effect on some startups that had ties to the bank, as they scrambled to pay their workers and feared having to pause projects or lay off employees until they could access their funds. SVB , the 16th largest bank in the US, had assets of $209 billion, with more than 50% of its investments tied up in long-term securities, including exposure to the Silicon Valley tech and health startup world. The bank's sudden collapse has raised questions about its risk management practices, and the impact of its closure on its clients, who are largely startups and wealthy tech workers. The bank's large uninsured deposits and exposure to high-risk sectors like tech and crypto contributed to its downfall. But SVB isn't the only one... Silvergate Bank, which has been a significant player in the crypto world, has announced that it is closing and returning deposits. The bank's holding company, Silvergate Capital Corporation, stated that the decision was made "in light of recent industry and regulatory developments." The closure follows the loss of one billion dollars in a quarter after customers withdrew $8.1 billion, and a subsequent filing in March revealing even worse financials. The closure of Silvergate Bank is concerning for the crypto industry, as it may lead to companies turning to less regulated institutions for their banking needs, potentially making the space even riskier. Coinbase, Crypto.com, and Paxos have already started moving away from the bank. The collapse of the bank will likely draw scrutiny from lawmakers who are concerned about the crypto contagion affecting the traditional financial sector. The Silvergate Exchange Network, which allowed crypto exchanges like Coinbase, Gemini, and Kraken to move money between themselves and other institutions, has also been shut down. The bank's financial struggles have been ongoing for some time, with some of its high-profile clients like FTX and Genesis also experiencing challenges. Silvergate's collapse raises concerns about the future of the crypto industry, as companies may turn to less regulated institutions for their banking needs, potentially making the space even riskier for everyone involved. The bank's failure is also likely to draw scrutiny from lawmakers concerned about the potential contagion of the crypto industry on the traditional financial sector. Late Friday night Coinbase, a popular cryptocurrency exchange, announced that it would suspend conversions for the USDC stablecoin. This led to a rush of people trying to sell their USDC holdings, causing it to depeg from its value of $1 and trade as low as $0.87 before recovering to $0.92. Another stablecoin, Dai, also depegged and experienced a high volume of trading. Stablecoins are important in the cryptocurrency market as they provide a way for traders to move funds between different exchanges or cryptocurrencies without having to convert back to fiat currency. They are also used as a store of value by some cryptocurrency investors who prefer a more stable asset compared to the volatility of Bitcoin or other cryptocurrencies. If stablecoins depeg permanently, it could lead to a loss of confidence in their stability and reliability. This could potentially cause a sell-off of stablecoins and a shift towards other assets perceived as more stable, such as traditional fiat currencies. But before we panic too hard and FUD out, it's important to note that the impact of this crisis on cryptocurrencies such as alts and Bitcoin would depend on the severity and duration of the stablecoin depegging event, as well as other market factors such as investor sentiment and regulatory actions. In the past, there have been instances of stablecoins temporarily depegging from their underlying assets without significant impact on the broader cryptocurrency market. One notable example of a stablecoin depegging in the past is the case of Tether (USDT) in 2018. Tether is a stablecoin that is pegged to the value of the US dollar , with each USDT token representing one US dollar . In October 2018, Tether's price dropped below the $1 peg on several cryptocurrency exchanges, leading to concerns about the stability of the stablecoin. The depegging was attributed to a variety of factors, including regulatory pressures, concerns about Tether's reserves, and a general market downturn. The depegging led to a sell-off of Tether and a shift towards other stablecoins such as USD Coin ( USDC ) and TrueUSD (TUSD), which saw increased demand as traders and investors sought more reliable alternatives. Despite the depegging of Tether, the broader cryptocurrency market did not experience a significant impact, with Bitcoin and other cryptocurrencies largely unaffected. However, the incident highlighted the potential risks and uncertainties associated with stablecoins and their reliance on centralized institutions to maintain their pegs. In terms of price action for the immediate term, the Tether (USDT) depegging event in 2018 did have some impact on the cryptocurrency market prices, although the impact was relatively limited and short-lived. Following the depegging of USDT, there was a brief sell-off of Tether and a shift towards other stablecoins such as USD Coin ( USDC ) and TrueUSD (TUSD). This led to increased demand for these stablecoins, which helped to maintain their pegs to the US dollar . However, the broader cryptocurrency market, including Bitcoin , was largely unaffected by the Tether depegging. While there was some initial volatility and uncertainty, the market quickly stabilized and resumed its upward trend. 💭The collapse of Silicon Valley Bank is the second-largest bank default in U.S. history and puts the golden trifecta rule of banking (liquidity, solvency, and profitability) into review. This failure reminds us of the unintended consequences of unorthodox monetary policies, pandemic remediation measures, excessive leverage, and democracy eroding rulings. SVB had significant exposure to long-term securities and the Silicon Valley tech and health startup world. The bank's uninsured deposits pose a problem but insured deposits will be available as soon as Monday. The collapse of Silicon Valley Bank and Silvergate Bank underscores the need for stricter regulatory frameworks and tighter risk management practices in the financial industry. The failures also highlight the importance of diversification and risk mitigation strategies for banks and their clients. As the financial industry continues to evolve, it is essential that institutions keep pace with the changes and adapt their practices to ensure their stability and resilience in the face of future challenges. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
SShort
by CryptoCheck-
12
Stablecoins Depeg: Twist of Events, Banking CrisisHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. In a twist of events, an incident that happened within the banking realm created chaos for the crypto realm. I bet you didn't have that on your bingo cards for 2023... In the past few weeks, there have been two significant bank failures in the United States that have sent shockwaves throughout the financial world. The collapse of Silicon Valley Bank and Silvergate Bank has sparked concerns about the stability of the banking system and the future of the crypto industry. The failure of these banks highlights the fragility of the financial system and the challenges faced by institutions that operate in high-risk sectors like tech and crypto. Silicon Valley Bank (SVB) was closed by the FDIC on March 9 due to its heavy losses caused by the downturn in technology stocks and the U.S. Federal Reserve's aggressive plan to increase interest rates. The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the US Congress in 1933 to maintain stability and public confidence in the nation's financial system. The FDIC provides deposit insurance that guarantees the safety of deposits in member banks, up to a certain limit. In the event that a member bank fails, the FDIC will step in to insure deposits, provide assistance to depositors, and liquidate the failed bank's assets. The FDIC also regulates and supervises member banks, as well as conducts research and analysis on the banking industry. Silicon Valley Bank bought bonds using customers' deposits, but the value of those investments fell as interest rates rose. This is usually not a problem for banks, but Silicon Valley Bank's customers were largely startups that needed cash. Venture capital funding was drying up, and companies were tapping their existing funds deposited with Silicon Valley Bank, which was at the center of the tech startup universe. In response to this liquidity crisis, SVB sold a $21bn bond portfolio at a loss of $1.8 billion . The bank attempted to fill the solvency hole with a combined equity offering of $2.25bn on March 8, but the attempt failed. This is the largest failure of a financial institution in the United States since Washington Mutual collapsed more than a decade ago. The closure of SVB had an immediate effect on some startups that had ties to the bank, as they scrambled to pay their workers and feared having to pause projects or lay off employees until they could access their funds. SVB, the 16th largest bank in the US, had assets of $209 billion, with more than 50% of its investments tied up in long-term securities, including exposure to the Silicon Valley tech and health startup world. The bank's sudden collapse has raised questions about its risk management practices, and the impact of its closure on its clients, who are largely startups and wealthy tech workers. The bank's large uninsured deposits and exposure to high-risk sectors like tech and crypto contributed to its downfall. But SVB isn't the only one... Silvergate Bank, which has been a significant player in the crypto world, has announced that it is closing and returning deposits. The bank's holding company, Silvergate Capital Corporation, stated that the decision was made "in light of recent industry and regulatory developments." The closure follows the loss of one billion dollars in a quarter after customers withdrew $8.1 billion, and a subsequent filing in March revealing even worse financials. The closure of Silvergate Bank is concerning for the crypto industry, as it may lead to companies turning to less regulated institutions for their banking needs, potentially making the space even riskier. Coinbase, Crypto.com, and Paxos have already started moving away from the bank. The collapse of the bank will likely draw scrutiny from lawmakers who are concerned about the crypto contagion affecting the traditional financial sector. The Silvergate Exchange Network, which allowed crypto exchanges like Coinbase, Gemini, and Kraken to move money between themselves and other institutions, has also been shut down. The bank's financial struggles have been ongoing for some time, with some of its high-profile clients like FTX and Genesis also experiencing challenges. Silvergate's collapse raises concerns about the future of the crypto industry, as companies may turn to less regulated institutions for their banking needs, potentially making the space even riskier for everyone involved. The bank's failure is also likely to draw scrutiny from lawmakers concerned about the potential contagion of the crypto industry on the traditional financial sector. Late Friday night Coinbase, a popular cryptocurrency exchange, announced that it would suspend conversions for the USDC stablecoin. This led to a rush of people trying to sell their USDC holdings, causing it to depeg from its value of $1 and trade as low as $0.87 before recovering to $0.92. Another stablecoin, Dai, also depegged and experienced a high volume of trading. Stablecoins are important in the cryptocurrency market as they provide a way for traders to move funds between different exchanges or cryptocurrencies without having to convert back to fiat currency. They are also used as a store of value by some cryptocurrency investors who prefer a more stable asset compared to the volatility of Bitcoin or other cryptocurrencies. If stablecoins depeg permanently, it could lead to a loss of confidence in their stability and reliability. This could potentially cause a sell-off of stablecoins and a shift towards other assets perceived as more stable, such as traditional fiat currencies. But before we panic too hard and FUD out, it's important to note that the impact of this crisis on cryptocurrencies such as alts and Bitcoin would depend on the severity and duration of the stablecoin depegging event, as well as other market factors such as investor sentiment and regulatory actions. In the past, there have been instances of stablecoins temporarily depegging from their underlying assets without significant impact on the broader cryptocurrency market. One notable example of a stablecoin depegging in the past is the case of Tether (USDT) in 2018. Tether is a stablecoin that is pegged to the value of the US dollar, with each USDT token representing one US dollar. In October 2018, Tether's price dropped below the $1 peg on several cryptocurrency exchanges, leading to concerns about the stability of the stablecoin. The depegging was attributed to a variety of factors, including regulatory pressures, concerns about Tether's reserves, and a general market downturn. The depegging led to a sell-off of Tether and a shift towards other stablecoins such as USD Coin (USDC) and TrueUSD (TUSD), which saw increased demand as traders and investors sought more reliable alternatives. Despite the depegging of Tether, the broader cryptocurrency market did not experience a significant impact, with Bitcoin and other cryptocurrencies largely unaffected. However, the incident highlighted the potential risks and uncertainties associated with stablecoins and their reliance on centralized institutions to maintain their pegs. In terms of price action for the immediate term, the Tether (USDT) depegging event in 2018 did have some impact on the cryptocurrency market prices, although the impact was relatively limited and short-lived. Following the depegging of USDT, there was a brief sell-off of Tether and a shift towards other stablecoins such as USD Coin (USDC) and TrueUSD (TUSD). This led to increased demand for these stablecoins, which helped to maintain their pegs to the US dollar. However, the broader cryptocurrency market, including Bitcoin, was largely unaffected by the Tether depegging. While there was some initial volatility and uncertainty, the market quickly stabilized and resumed its upward trend. 💭The collapse of Silicon Valley Bank is the second-largest bank default in U.S. history and puts the golden trifecta rule of banking (liquidity, solvency, and profitability) into review. This failure reminds us of the unintended consequences of unorthodox monetary policies, pandemic remediation measures, excessive leverage, and democracy eroding rulings. SVB had significant exposure to long-term securities and the Silicon Valley tech and health startup world. The bank's uninsured deposits pose a problem but insured deposits will be available as soon as Monday. The collapse of Silicon Valley Bank and Silvergate Bank underscores the need for stricter regulatory frameworks and tighter risk management practices in the financial industry. The failures also highlight the importance of diversification and risk mitigation strategies for banks and their clients. As the financial industry continues to evolve, it is essential that institutions keep pace with the changes and adapt their practices to ensure their stability and resilience in the face of future challenges. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
G
by CryptoCheck-
28
Will Bitcoin continue to fall?BTC: Judging from the daily chart, the market was super negative yesterday, which seems to mean that its direction is chosen. Even if there is a rebound trend after the plunge, both in terms of the strength of the rebound and the time of the rebound, the bulls are basically defenseless at present, and as the rebound trend gradually consumes the rebound momentum, the height of the rebound will also decrease. On the 4-hour chart, the market has returned to the structure of the third wave again, and the decline has been strengthened and confirmed. Now that the third wave is not in place, the probability of continuing to fall is relatively high. And on the fundamentals, the risks still tend to be downside due to the ongoing concerns about the ongoing cryptocurrency crackdown by US regulators. Therefore, in terms of operating ideas, it is mainly based on rebound shorting, and the height of the rebound can be appropriately reduced, so don't easily try to make a profit from the rebound. BTC: 20800-20900 short, target 20100-20000 In order to make it easier for everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel, if you can't follow up in real time, you may make mistakes in operation. You can enter my channel for free to follow the latest news and follow the market trend in real time through the following methods.
BITSTAMP:BTCUSDShort
by Blessed_V
3
(Not FUD) Get Out Now!Crypto is going DOWN into the end of 2023. 2024 to 2027 could see a giant bull run after this move. This next leg down will be the one that causes people to proclaim that crypto is dying and be quite hopeless as the price really breaks down, which is exactly the psychological point you should be buying during if you're a long-term investor. But patience is key. Wait for the strong down move to 9-10k, then we should weakly, slowly step down into the 6k level and retest the huge support there from the last corrective cycle. I trade short & long-term, and while crypto is a great investment over the next 10 years, now is NOT the time to be buying. If anything you should take any profits you have and save cash and wait and see what goes down. I expect many more bankruptcies and crypto exchanges liquidating and closing down. This is a necessary cycle to weed out the bad players and is a healthy sign of a new market. Embrace it and realize you're going to get a great buy-in soon. Bitcoin is indicating a final major breakdown before the new bull cycle starts. We have just completed a bearish running flat and this is going to be the NASTY final wave. It could get really scary but keep your wits about you because it will open up the opportunity for a massively discounted buy-in if you save your cash, buy when people are panicking, and hold for a few years. I'll buy backing up the truck and loading the hell up around 5k-7k. At this point, people will be either too broke to buy or too scared.
BITSTAMP:BTCUSDShort
by MonetaryRebel
15
Successfully won the rebound of Bitcoin,how's the future market?The operating idea given by Bitcoin yesterday was to go long near 21800, very accurately grasping the vicinity of the lowest point in the short-term, and got a relatively good rebound profit. On the fundamental level, after Powell's speech, the sharp rise in the US dollar will pose challenges to global non-US currencies and risky assets, suppressing their prices. On the technical side, after Bitcoin fell yesterday, it broke the extension line of the low point of the daily K-line, breaking the short-term strong trend and returning to the weak range. The short-term pattern is bearish, and the high point of the recent rebound of the daily line forms new resistance. Together with the short-term moving average, it suppresses the rising Bitcoin market, while the technical indicator MACD diverges downward, and the downward momentum is strong, and the overall still shows that the Bitcoin market is running short. So in terms of operation, Bitcoin can be shorted at the position of 22600, near the target position of 21900. BINANCE:BTCUSDT BITSTAMP:BTCUSD COINBASE:BTCUSD BINANCE:ETHUSDT INDEX:BTCUSD BITSTAMP:ETHUSD
BITSTAMP:BTCUSDShort
by Blessed_V
BTC diamond pattern waaaSUP everyone, i thought i would share this one, I was charting away and drew the wedge channel BTC is in. The white trend line is from body of the candles the blue is from wicks of the candles. If you notice the blue trendline of the wedge has hit the last wick bang on You will also see the bear flag that BTC is currently in ready to go somewhere, It could form a double bottom very soon which would also make this a Two diagonal diamond continuation pattern or possible reversal pattern depending if it broke out or not. So ye theres my idea, another thing is there is a bull divvy on the 2hr. On the daily we are below the 50MA, by a thread, but if we break the 50MA on the daily i would suggest the probability would be more favourable of hitting the top of that wedge. But we will soon see, Happy weekend :)
by Crypto_SUP_Surfer
FTX Discloses Significant Asset Shortfall in Company's PresentatAfter extensive efforts, the leader of FTX and FTX US has reported the discovery of billions of dollars in debt on both exchanges. FTX US, a leading digital asset platform, has announced a total of $374 million in assets, with the majority of the sum held in associated accounts. This marks a significant increase in the platform's financial stability since its establishment. Additionally, FTX has reported positive results for its less liquid "Category B Assets", including its own FTX Token (FTT). However, FTX wallets have a net borrowing of $9.3 billion from its sister trading firm, Alameda Research, with FTX US owing Alameda $107 million. This suggests an increasing financial connection between the two firms and may have important implications for the cryptocurrency industry. Meanwhile, FTX Japan users have welcomed the news of the platform's ability to withdraw funds as an "escape" from the platform. In terms of corporate leadership, John J. Ray III, the chief restructuring officer and CEO of FTX, has emphasized the company's commitment to transparency and public disclosure. It has taken a huge effort to get this far. The exchanges' assets were highly commingled, and their books and records are incomplete and , in many Cases, totally absent. In contrast, Nishad Singh, a former engineering director at FTX, has pleaded guilty to multiple counts of fraud in a US district court and now faces potential prison time and fines. Finally, the US Justice Department is facing increased pressure as billionaire trader Sam Singh has filed a plea to halt the investigation into the cryptocurrency industry led by rival billionaire Mike Bankman-Fried, following news of several close associates agreeing to cooperate with prosecutors. Note: This article was written by an independent author and does not represent the publisher's views. If you find my content useful, please consider liking and sharing it. Additionally, I encourage you to follow me for future real-time updates on the cryptocurrency market. Thank you for your support.
Education
by CryptoPatel
1
Bitcoin Shifted in Bearish from Bullish#Bitcoin Technical Analysis:- This is My Opinion and Analysis Please Share your View Also about Bitcoin Next Move. The recent market sentiment for #Bitcoin has shifted from bullish to bearish. Bitcoin is currently holding on to its trendline support, but it has already broken below the $22,900 support level. According to technical analysis, $22,000 is a crucial support level that needs to be maintained for a potential bullish scenario. Traders should keep a close eye on this level. If the price breaks below $21,960, it could signal a further downturn in the market, and the next support level to watch out for would be in the $20,000 range. As of now, the support levels for Bitcoin are at $22,000 and $20,000, while the resistance levels are at $23,000 and $25,000. If you find this analysis helpful, please Like and Share it. Follow me for the latest Real-time updates on the Cryptocurrency market. Thank you.
BITFINEX:BTCUSDShort
by CryptoPatel
3
Crypto hammered as Silvergate bank issues worry tradersWorries around Silvergate Bank have set off a mini plunge today. Crypto has seen a worrying Asian session so far, with most coins seeing heavy selling as traders look to take cover as the Sivergate Bank issue continues. The Banks share price lost 50% yesterday, and reports say most major players will suspend automated clearing with other business operations with the bank. Kaken is the only major exchange that looks to be continuing operations with the bank. Silvergate has seen most of its crypto industry clients leave a day after it announced it would have to review its books with auditors and warned of headwinds. They announced Wednesday they would be delaying their annual 10-K to answer questions from independent auditors and its accounting firm, as well as "regulatory and other inquiries and investigations that are pending." The bank warned in a forward-looking statement that it faced possible inquiries from bank regulators and the U.S. Department of Justice and its ability to "continue as a going concern", which may be affected over the next year. This is driving fear today, and we will continue monitoring as the updates come out. Let's hope it won't become another contagion, as seen in 2022.
EIGHTCAP:BTCUSD
by Eightcap
BTC diamond 4 hri thought i would share my latest idea based on that dump we just had. I see a diamond pattern here. BTC already broke out and retested, but now has broken out of its pattern and dumped back down . So i changed my anlysis and spotted this diamond So either pump through the low volume gap (blue box) take out the red vectors OR dump hard and grab the liquidity in the green vectors below. If BTC drops lower then it could form the double bottom which would make this diamond a continuation. But if BTC goes up from here it could more likely be a reversal diamond. Or it could do something totally different, im still learning, over a year now and have learnt a lot :) peace and love everyone :)
by Crypto_SUP_Surfer
DXYI thought i would share my idea, its very brief. The DXY is still in its downtrend and now is at the top of its downtrend line. Its worth noting that it is in an acending wedge which more likely play out to the downside. But also it is at strong resisitance, this is the level it hit on 20 march 2020 and tanked, so could we see the same? One area to note is the orange circle, if the DXY goes down be mindful of the potential double bottom right there. If DXY drops, stocks, BTC will follow :) Anything can happen so please always do your own due dilligence :) But im bullish on BTC and probability suggests downside for the dollar?
CAPITALCOM:DXY
by Crypto_SUP_Surfer
#HBAR/USDT Technical Analysis: Bullish Long-Term Outlook HBAR Technical Analysis: Bullish Long-Term Outlook Despite Short-Term Correction Expected:- Based on the technical analysis, HBAR is currently trading at $0.072, representing a 100% gain from the recent bottom and a 170% increase from the previous low within the last two months. However, the chart indicates that $0.1 is a strong resistance level, and there is strong rejection from this level. Furthermore, today marks the unlocking of 3 billion HBAR tokens, which could be perceived as negative news for current holders. There is a fear that those who have been holding these tokens for a long time may sell them in the market, resulting in a further decline in HBAR's price. Therefore, it is advisable to stay away from HBAR in the coming days. As per the technical analysis, a 15-20% correction from the current level is expected, and HBAR may test the $0.05 level in the near future. However, in the long term, the outlook for HBAR is bullish, and it is recommended to accumulate it during significant dips. The Fib retracement level shows that the 0.618 Fib retracement support is also at the $0.05 level, which implies that there could be a bounce from that point. The upper side targets are considered to be the resistance levels, which are $0.1, $0.177, and $0.44. On the other hand, the support levels are $0.05 and $0.037. If you appreciate my hard work and analysis, please like, share and comment. Kindly follow me for any latest updates. Thank you.
Short
by CryptoPatel
4
BTC inverse Head and shouldershey waaasup everyone, If you have been following me lately you would of already seen my TA on BTC. Heres an update, It has played out as expected so far and BTC is very close now to that red vector range and big volume gap. It is still in its range (blue box). I have now spotted a much bigger inverse haead and shoulders pattern (light blue) but also some confluence of the small decending wedge that BTC is in right now. That would put BTC very close to the liquidity above. Bookmap is showing Liquidity for BTC at 23K, 24K, 24.35K, 24.65K, 25K. also at 21.7k but there is over 339 btc at 23 K so thats a wall right there and also 456 btc at 24 K, so thats the range 23-24K. I am still bullish on BTC, Happy Sunday everyone, and enjoy the rest of your weekend :)
by Crypto_SUP_Surfer
1
TA of DYDX/USDT: Potential Breakout and Buying Opportunities Chart Analysis Shows DYDX Testing Fibonacci Retracement Level and Potential for New All-Time High in Upcoming Bull Run:- #DYDX is currently trading at $2.855, and the chart shows that it recently broke out of a major resistance level and is currently trading around 250% higher than its last bottom. It has also risen 150% from its last breakout. The previous breakout was followed by a retest and was perfectly executed. At present, DYDX is trading in a parallel channel, and a breakout from this channel is crucial. A high-time frame candle closing above $3.30 or breaking the recent high of $3.68 would be the best entry point as per technical analysis. Based on the chart, I anticipate that DYDX may test the 0.0618 Fibonacci retracement level and then experience a significant upward rally. Therefore, the best buying opportunities would be around the parallel channel support area, which is between $1.40 and $1.70. In the long term, I expect that #DYDX will break its new all-time high in the upcoming bull run and could reach $30. The support levels for #DYDX are $2.44, $1.65, and $1.11 while the resistance levels are $3.47, $7.50, $13, and $24 This is just my opinion, and it is not financial advice. Before investing in any coins, I recommend doing your own research. I will update my social media channels if anything changes in the chart. Please Like, follow, and share for more live updates on technical analysis and breaking news on crypto. Thank you.
Long
by CryptoPatel
6
BTC updated ideaHey everyone, so i put out an idea last night where i showed a W formation and inverse head on shoulders on the 15 min TF, but it didnt play out. I have updated my idea, where it is still in its range (blue box) The pattern has changed to decending triangle with base at 23k area but it could also be a decending wedge possibly? Everything else is still in play, green vector range below, red vector range above, BUT look at that big volume gap above, thats something definetly worth keeping an eye on. It is also showing signs of support at the 21 SMA with the 200SMA in the middle of that low volume gap. Soon find out :)
by Crypto_SUP_Surfer
🅱️₿ LocalBitcoins To Shut Down, Bitcoin DropsLocalBitcoins is a huge name, even though they have no volume its closing down can definitely be felt across the market. People tend to panic over anything and everything. They made some really bad business decisions in the past and now it seems they are paying the price. This will be just another minor "bump" in the road and Bitcoin will resume growing once the panic settles, the weak hands sell. After 14-February we should start seeing better news on the Bitcoin side. The Altcoins are doing great... That's what we trade when Bitcoin is undergoing consolidation, a correction or a retrace. We will continue with the "Name Your Altcoin" series after Part 3 and comeback and finish part 4 and 5 when more people get involved. We can do this monthly or bi-monthly, I'll update you on your favorite altcoins and thank you for the support. As to Bitcoin, the only thing that will peak my attention is if we break below the $20,000 level/support. Any trading above this level and we continue 777% bullish, of course! Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
23
Financial Wave. DXY. Despite the dollar (DXY) strengthening, the cryptocurrency market showed resilience and held about the same level after the release of good data on Non Farm Payrolls statistics for DXY and bearish data for cryptocurrency market. 👉But now the DXY dollar index has reached a resistance level and rolled back 61% Fibonacci from the recent decline, and the momentum of the rise after the data release has weakened. Perhaps with the dollar index correcting down, the cryptocurrency market will be ready to continue rising. The dollar index should be watched closely. Let's see how the situation develops.
TVC:DXY
by Financial_Wave