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BTCUSD Critical Point | 200 MA | Oversold Bounce Hello Traders! Hope you all had a great weekend, Update on BTC recent developments on the daily chart , at a very critical point, trading below the 200 Moving Average, we need it to break and stay above this level to keep a bullish bias. Points to consider, - Daily trend bearish - Price testing structural resistance - Price below key moving average - Stochastics in lower region - RSI levels oversold - .50 Fibonacci acting as resistance - .618 Fibonacci is local support - EMA’s both resistance - Volume declining after climax Bitcoin is trading at a very key region, right below the 200 moving average which is in confluence with structural resistance and the .50 Fibonacci level. The daily trend is considered to be bearish as we have not put in a higher high coming out of the bearish descending triangle . The stochastics is well below in lower regions, flattening out; we need to see it show an upper projection. This can be in confluence with the RSI , being way oversold at current time; an oversold bounce may be probable to cool off both these indicators… The Fibonacci levels are quite interesting, the .50 as mentioned before is now a key resistance level , and the 200 moving average coming over price at current given time makes this area of very strong resistance. The .618 Fibonacci level is considered as local support, price is more probable to quickly reach this region if the 200 moving average does not get broken… Volume is declining after volume climax’s, this shows that a volatile move will be at play, we could see a Bart move back and over the 200 MA and or another flush down, to local support, the .618 Fibonacci level… What are your thoughts? Will BTC break this critical resistance level or flush down to local support? IMO it’s pretty risky at current given time, we don’t have a clear direction however, few indicators are over extended, thus a oversold bounce would be more probable… Please leave a like and comment, And remember “A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.” – Martin Schwartz
BYBIT:BTCUSD.PLong
by AzizKhanZamani
3
BTCUSD - Glass half full approachCOINBASE:BTCUSD is having a rough few days. Price is dropping hard and it seems there isn't a consensus of where support will come in. I'm not willing to take a position just yet, but I do want to say that having the RSI already at historic low levels is a bad thing on the daily chart, it does represent some improvement. The major drop from 6k to 3k had RSI reach record daily low levels never before seen in Bitcoin history. Do I think this dump will produce worse RSI levels than the dump at 6k? Most likely not. While we have consolidated for several months and broken down out of the consolidation that does not mean this may not end up being a great dip-buying opportunity. As stated, the RSI is historically oversold, however, in the past, RSI typically doesn't stay oversold long for Bitcoin. The dump for the 6k consolidation that took nearly a year was the lone exception. I'm not convinced we stop and turn around here, because downward momentum on the weekly charts is hard to ignore. However, I will be watching for a potential divergence forming on the RSI on the daily charts if this break down is not bought up swiftly soon, and I imagine it won't. Certainly worth me keeping my eye on. DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
COINBASE:BTCUSD
by BigBitsIO
ZS Support Line? Neg Earnings Brought us Here- Over SoldNot so many days ago, ZS missed earnings by a little bit but still show strong revenue support. You can see the downward gap on earnings day. BUT- Back in February you see the Positive Power Earnings Gap from the $50 support level up to the $57 level. Almost the exact same line as this recent earnings fall. This triggered an OVER SOLD on my watchlist and took a look at RSI well below 30. I love these spots and when looked at trend from beginning of the year through beginning of July, ZS was steadily in growth mode. We are at a greater than 40% price break from the 52 week high of 89.54 Let's see if we can't reach that GAP back up to $59 over the next month or so. Thoughts?
NASDAQ:ZSLong
by jeffyanzo
ChainLink is preparing to test 50 EMA - ($1.95)Fundamental Reason Last days COINBASE: BTCUSD stated process of diversification towards ETH and XRP. We can easily see that diversification from BTC Dominance to CRYPTOCAP:ETH.D and XRP Dominance which are pumping in the last few days. Events from this kind are telling us that the potential drop is coming in the next 3 weeks. Before the drop to appear on the entire crypto market we are going to see growth in different alt-coins, most likely ChainLink will be one of them. Technical Reason At the moment BINANCE:LINKUSDT is at the oversold stage. RSI shows us potential Double Bottom formation. The price was able to rise above 200 Exponential Moving Average, which is speaking of strength and a higher probability for further growth. Volume is under 50 Moving Average, and a potential big move is coming. Likely the price will try directly at 50 candles Exponential Moving Average and tested it as resistance (price around $1.95). Supports - $ 1.50, $ 1.45 Resistances - $ 1.95, $ 2.05 Good Luck!
BINANCE:LINKUSDLong
by Kairos-Alpha
Worst Performing Cryptocurrencies : AIONAion (AION) is a third generation blockchain project that competes with ICX and others by focusing on increasing interoperability between various chains. Some potential use cases listed on the project website include supply chain logistics, Internet-of-Things, online media marketplace, fundraising, and digital identities. Some people have said that the project is too ambitious and it finds itself with the biggest percentage drop in market cap 2018/19. Now I am tempted. Aion is on my Watchlist. Disclaimer: Always do your own research . We are not registered or licensed to provide investing advice or anything of an advisory or consultancy nature.
A
by CryptoTrend-Alerts
2
NZD/USD as weekly market oppurtunityAttention guys and girls, cause this can be a weekly market opportunity with a great R/R! NZDUSD price is at a daily 50.0 Fibonacci level. Here on D chart, RSI is in the oversold area which can be one of our buy triggers. But note also that a higher time frames are still in downtrend movement. The red line is a weekly support level that can be touched if the price break the Fibonacci level. My play is contrarian in this case, with a tiny P/l ratio OFC. What so ever this can be the first level for compounding positions because what we have here is descent swap and hardly expected is to see NZDUSD falling below 0.600
Long
by DejanDjekic
BTCUSD Over Sold Bounce Incoming!Hello Traders, Update on BTC's recent developments, Points to consider - Still in an upwards trend on the 4 hour - Currently testing support which is in confluence with the .618 Fibonacci line - RSI severely oversold, we need to see it break this resistance for a pop back to neutral territory - Stoch starting to show signs of upwards momentum - Bull Volume bar close after several bear closes - Visibly increased volume - EMA's have not caught up with price but, we need to see a cross over otherwise still bearish BTC is looking like its due for a small bounce in the near future before a continued roll back to retest previous support of around $8900. RSI and Stochs are starting to show signs of reversing after reaching ridiculous low historic levels. We have had a sharp fall in price, its is only natural for the market to experience a relief rally, which may top out at the .50 Fibonacci line, now acting as the next possible resistance zone... What are your thoughts ? Please leave a like and comment, and remember, “It does not matter how slowly you go as long as you do not stop.” - Confucius
BYBIT:BTCUSD.PLong
by AzizKhanZamani
forexTrdr AUDUSD FINDING SUPPORTMorning traders We are taking a look at Aussie dollar versus US dollar on our trading view channel today. We have taken the daily chart to show the support level the market has found dating back to January flash crash as well as the descending channel we have been trading in for many months now. We are looking for a bounce from this support area at 0.675 area up towards 0.69 area over the coming weeks. Additionally the pair are oversold on both RSI and turning up on Stochastics adding support to our view of a bounce higher here. Any questions please get in touch
Long
by forexTrdr
Is Euro looking at making a comeback???Cordial greetings. It's no secret that the markets have been behaving strangely (for a lack of a better term) lately. We've been seeing some crazy volatility and that can of course be good for some and bad for others, depending on which side of the market you are on. But let's put that aside and focus on the matter at hand... What we currently have here is an ascending wedge on the Weekly timeframe. The mere fact that it's visible on the Weekly timeframe makes us firmly believe that there is a great chance for the market to follow suit i.e., the market may be bullish and aim for the wedge resistance. This is because price has tested the wedge support line and has already started moving bullishly. The wedge is not the only confirmation that helps us predict an upward move. This is because we also have our Stochastic, which indicates Oversold conditions and this hints at a bullish move. In my mt4 platform, I've also included Moving averages (5 EMA & 13 MA), which are both currently in close proximity, which may lead to a crossing. Well, folks, we have 3 confirmations signalling an upward move, BUT if you disagree with my analysis, I would love to hear your input. So please do feel free to leave a comment. It would be highly appreciated.
Long
by WandileM
How to use my FG oscillator in conjunction with DFG oscillatorLooks like BTCUSD still have a little bit further down to go, but is winding up for a next significant pump. DEMO of the use of my FUSIONGAPS (FG) and DIFFERENTIAL FUSIONGAPS (DFG) scripts, with my LIVIDITIUM indicators set. Not a financial/trading/investment advice. Exercise your own judgement and take responsibility for your own trades. ;) See also: If you like this set of indicators, and it has benefited you in some ways, please consider tipping a little to my HRT fund. =D cybernetwork @ EOS 37DzRVwodp5UZBYjCKvVoZ5bDdDqhr7798 @ BTC MPr8Zhmpsx2uh3F5R4WD98MRJJpwuLBhA3 @ LTC 1Je6c1vvSCW7V2vA6RYDt6CEvqGYgT44F4 @ BCH AS259bXGthuj4VZ1QPzD39W3ut4fQV5giC @ NEO rDonew8fRDkZFv7dZYe5w3L1vJSE51zFAx @ Ripple XRP 0xc0161d27201914FC0bAe5e350a193c8658fc4742 @ ETH GAX6UDAJ52OGZW4FVVG3WLGIOJLGG2C7CTO5ZDUK2P6M6QMYBJMSJTDL @ Stellar XLM xrb_16s8cj8eoangfa96shsnkir3wctdzy76ajui4zexek6xmqssweu85rdjxrt4 @ Nano ~JuniAiko (=^~^=)v~
BITSTAMP:BTCUSDEducation
by cybernetwork