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Bitcoin can bounce from buyer zone to resistance line of channelHello traders, I want share with you my opinion about Bitcoin. Observing the chart, we can see that the price some time ago bounced from the support line and started to grow to the resistance level, which coincided with the seller zone and even soon exited to this zone, breaking the 70800 level. But later, BTC turned around and started to decline inside the downward channel, where at once broke the 70800 level one more time and support line soon too. Next, the price fell to the support line of the channel, after which rebounded up to the resistance line. Bitcoin at once turned around from the resistance line of the channel and in a short time declined to the support level, which coincided with the buyer zone. Then the price bounced up and tried to rise, but failed and made a correction to the 65200 level, after which made little movement up again and quickly fell back. Recently Bitcoin started to grow, so, in my opinion, it can decline to the buyer zone, after which the price will turn around and rebound up to the resistance line of the downward channel. For this case, I set my TP at 67300 points, which coincided with the resistance line. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
USDT.D Logarithmic Trend Compared to Bitcoin TrendIn the long term, USDT dominance is in an uptrend. Within this trend, it often rises slowly, suppressing Bitcoin and altcoins, sometimes sideways, sometimes causing price declines. Then, with the sudden drops that follow, it puts Bitcoin and altcoins into a very sharp bull season. Right now, USDT is in an uptrend. I think that Bitcoin will enter a sideways channel as long as USDT remains in an uptrend. After this channel, a drop in USDT will put Bitcoin back into the bull season.
CRYPTOCAP:USDT.D
by YavuzAkbay
Bearish Pennant Pattern and Support Breakout in MDTUSDT CoinAnalysis: Chart Pattern: MDT/USDT is showing a Bearish Pennant pattern below the support level, indicating potential for further downward movement. Support Breakout: The coin has broken below a key support level, suggesting increased selling pressure. Target Price: Estimate target prices based on the height of the pennant. Cautionary Note: Be careful, as trading cryptocurrencies involves significant risks. Ensure to assess your financial situation and investment goals before making any decisions. Stop-Loss: Set a stop-loss slightly above the pennant's upper boundary to manage risk.
Short
by WaveRiders2
BITCOIN - Price can continue to decline in channel to $61100Hi guys, this is my overview for BTCUSDT, feel free to check it and write your feedback in comments👊 Some days ago price declined to support level, which coincided with support area, and even broke it and fell lower. Then price started to grow inside rising channel, where BTC soon broke $61100 level again and then made retest. Price rose to resistance level, which coincided with resistance area, but at once made correction movement. Next, BTC reached $71300 level one more time, made fake breakout of it, and then started to decline in falling channel. Also now, price continues to decline inside this channel and I think Bitcoin can reach resistance line. After this, price can bounce and continue to decline in falling channel to $61100 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
1
Bitcoin's Best Worst-Case ScenarioPreface: BTC's long-term trend is till bullish, so most likely scenario at this point is a continuation of the trend. Still, it's important to consider different views. Bitcoin has been trading within the 70k-60k area for the better part of three months at this point. This came after making a (minor) new all-time high. This is the first all-time high that occured before the halving, so rather special. Worst-case scenario for the bulls would be that we lose the long-term uptrend. Best worst-case would be a strong reversal from the bottom support. This support has been holding for >5 years, so I'd assume that a lot of buyers will be waiting around the support. If we extrapolate history, Bitcoin should top out somewhere in Q4-2025. A move towards the support during the next few months and then a year of straight bull would fit this view. More info on how I came to Q4-2025 here: Do you think Bitcoin is going to make a new all-time high soon? New bear market? Share your thoughts.
Short
by FieryTrading
2
Market update: Relief or more Dump?USDT dominance is currently hitting three major resistance levels: 1. 100 EMA (blue) 2. 50 SMA (red) 3. 8-month-old trendline resistance (blue) This confluence of resistance makes this level crucial. Taking into account the channel breakdown and retest, a rejection seems more likely at the moment, suggesting a potential market relief rally. Invalidation:- Close above the red zone. dyor, nfa Do hit the like button if you like it and share your views in the comment section. Thank you #PEACE
CRYPTOCAP:USDT.DShort
by Cryptorphic
5
KSMUSDT.1DIn this professional analysis of the Kusama (KSM)/USDT daily chart on Binance, I'll delve into the current technical setup and evaluate potential future movements based on the observed price action and indicators. Price Action and Support/Resistance Levels The current price of KSM stands at approximately $26.39, with a recent loss of 5.48% on the day. The chart identifies significant resistance levels at $34.72 (R1) and $47.90 (R2), as well as support levels at $23.37 (S1) and $15.29 (S2). These levels are crucial for understanding potential bounce-back points or further declines. Technical Indicators MACD (Moving Average Convergence Divergence): The MACD line is below the signal line and close to the zero line, indicating a lack of strong momentum and leaning towards bearish territory. The proximity to the zero line suggests a potentially weaker trend or a consolidation phase. RSI (Relative Strength Index): The RSI is below 40, which typically indicates bearish momentum and shows that the asset might be approaching oversold conditions. This could potentially lead to a rebound if buyers step in near key support levels. Market Sentiment The overall market sentiment, as reflected by the technical indicators and recent price action, suggests bearishness in the short term. The significant drop in price, combined with the current positioning of the MACD and RSI, indicates that KSM may continue to face downward pressure. Conclusion Considering the bearish signals from both the MACD and the RSI, as well as the current price level nearing the first support at $23.37 (S1), KSM appears to be in a vulnerable state. If this support level holds, there could be a potential for a short-term recovery towards R1. However, a break below S1 could lead to further declines towards the more substantial support at S2. Given this outlook, traders should keep a close watch on these support levels and adjust their strategies accordingly, perhaps setting stop-losses to manage risk effectively in a volatile market. This analysis underscores the importance of vigilance in monitoring further developments and being prepared to act based on key technical levels and indicator signals.
by MarsSignals
1
FLUXUSDT.1DIn this technical analysis of the FLUX/USDT 4-hour chart on Binance, we'll explore the significant technical aspects that are currently shaping the market dynamics of FLUX. Price Action and Support/Resistance Levels The chart shows FLUX trading at approximately $0.7379, with a significant downtrend visible, marking a 10.77% decline in the last recorded session. Key resistance levels are indicated at $1.0816 (R1) and $1.2427 (R2), while support levels are set at $0.6595 (S1) and $0.4893 (S2). These levels suggest potential areas where price movements could stall or reverse. Technical Indicators MACD (Moving Average Convergence Divergence): The MACD line is currently below the signal line, and the histogram reflects negative values, both of which indicate bearish momentum. The increasing distance between the MACD line and the signal line suggests that the bearish momentum is strengthening. Historical Volatility: While not explicitly shown, the wide price fluctuations suggest high volatility, typical of lower-cap cryptocurrencies like FLUX. This volatility can lead to rapid price changes, affecting trading strategies. Market Sentiment The recent sharp decline and the position of the price relative to the support and resistance levels imply a bearish sentiment in the market. The trading volume, though not visible in this snapshot, would provide additional insights into market conviction. Conclusion The current market setup for FLUX suggests a bearish outlook, as indicated by the technical indicators and the recent price action. The price is approaching the first support level (S1), and how it reacts to this level could be crucial. A break below S1 could see FLUX testing the lower support at S2. Conversely, if S1 holds, there might be a potential rebound towards R1. Traders should monitor these levels closely for signs of a reversal or continuation of the current trend. As always, considering the inherent volatility in such assets, risk management strategies such as stop losses should be employed to protect investments.
by MarsSignals