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BITCOIN Lots of potential based on the USD.It is natural since the two are negatively correlated to see Bitcoin moving in the opposite direction of the DXY especially on the large timeframes. It is not a coincidence that when the DXY broke its Rising Support, Bitcoin followed with a break of its Falling Resistance. The DXY is leading the markets as it is absorbing the inflation news first. What we do see from these charts though is that Bitcoin is lagging and its potential for further rise in relation to the USD is huge. Especially since the DXY's 1week MA200 us much lower while Bitcoin is attempting to break above it. Follow us, like the idea and leave a comment below!!
INDEX:BTCUSDLong
by TheCryptagon
4
Bitcoin Update 2023The bitcoin market operates in repeating cycles, like clockwork. The left chart shows Bitcoin's performance in April 2019, after a significant increase, taking it out of a capitulation range. The right chart displays the current situation, and the strategy so far has been straightforward: just look at history. If the cycle repeats, we can expect a breakout in 10-15 days with a target of 35,000. 35,000 is a crucial level for multiple reasons, including being the 0.382 Fib and the highest CME gap. This level could potentially be the top of the relief rally, but it is expected that human emotion and FOMO will drive the price higher. Mayer Multiple bands The chart is clear , the cycle is repeating. We even formed a small base over the yellow band just like in 2019. The only concern currently is the descending wedge in USDT on the daily, which could impact the move to the upside. In a short time, Bitcoin is projected to reach the value of 35,000. The inclination to purchase, accompanied by an emotional disturbance in the abdomen, is commonly referred to as Fear of Missing Out (FOMO).
COINBASE:BTCUSD
by Sporia
4
BTCUSD: Ranged trading, many opportunities.Bitcoin is at the bottom of a 2-week Channel Up pattern with 1D technicals still bullish (RSI = 61.203, MACD = 1023.500, ADX = 42.545) but not overbought as previously. Right now with the circled pattern having seen three times already in less than 1 month and the price at the bottom of the Channel Up, we are bullish (TP 23,300). A closing above the 4H MA50 will trigger a new buy to the bottom of R1 and similarly a closing above the Channel Up will trigger a buy to the August top (TP = 25,200). Sell trigger if the S1 Zone breaks, in which case we should see 1D RSI in negative territory and we will take the opportunity to short to the 4H MA200. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
BINANCE:BTCUSDLong
by InvestingScope
3
Shib sitting up or rolling over?If you find this info inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Also, check out the links in my signature to get to know me better! From an Elliott wave stand point, there is a potential that this move up is just a larger move with in a correction. A blast off or a nice corrective pattern internally retracing this move could be a nice entry for a long. Only thing else I could see is it may be being in the midst of some kind of Diagonal. Also drop some Median Line Trading principle in there as well. As long as the last pivot holds "price should return to the median line approximately 80% of the time." Theses levels on watch in case of a pull back. Cheers!
Long
by CryptoKnee
1
XRP Breaks Uptrend Support Line - What Next? Here we are looking at XRPUSD on the 2hr time frame… Today we will zoom in on XRP, and analyze the break from its recent rally in which it pumped 45% in just three and a half weeks. As you can see, throughout this rally XRP had a strong ascending line of support (yellow), which it continuously bounced from, thus continuing the uptrend. It wasn’t until January 30th, that this support line was broken… so what should we expect next? Since breaking below the local support line, XRP has made two attempts (thus far) at getting back above it. Both re-tests have been met with strong resistance, and have failed in getting back above that line. We will continue to monitor this chart, and update you as it develops, but we currently expect XRP to remain below previous support (yellow) and move to its next support zone… What do you think will happen next? Let me know in the comments below! Trade safely… Cheers!
BITFINEX:XRPUSDShort
by GarethSolowayOfficial
5