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BITCOIN - UpdateWell, let's take a closer look at bitcoin in the hourly time frame and have an update. Bitcoin buyers have so far failed to cross the $ 45,000 resistance. As it turns out, the market has been reforming in recent days; But the downtrend is likely to be limited to $ 42,800. Bitcoin started a new uptrend yesterday with the support of buyers at the level of $ 44,000. The price went above $ 44,500, and buyers could increase their distance with the 100-hour moving average (SMA). Despite this upward movement, the price candle did not meet the resistance of $ 45,000, and the price peaked at $ 44,770. Then, with the start of the downtrend in the market, first the support of $ 44,500 and then the support of the bullish channel on the chart in the range of $ 44,200 was lost. Bitcoin is currently trading a short distance from the 23.6% Fibonacci level. In this analysis, Fibonacci levels are set based on the upward movement of the price from $ 41,573 to the peak of $ 44,770. If the market continues to rise again, the uptrend channel line on the chart at $ 44,200 will act as the first resistance to the price. The first key resistance for Bitcoin is at $ 44,500, and crossing it could pave the way for further price jumps. The following key resistance is at $ 45,000, and if this level is broken, we can expect the price to reach the next resistance at $ 45,500. If buyers can still push the price above $ 44,500, they will have to wait for a deeper price correction. In that case, it would support $ 43,800 before other price levels. The next key support is $ 43,150 and the 50% Fibonacci retracement level. Breaking this range could push the price to the $ 42,800 support area and close to the simple 100-hour moving average, which breaks the risk of a sharp fall in the price of Bitcoin in the short term. The MACD is entering a bearish range, and the Relative Strength Index (RSI) is still above the 50 level. As mentioned, $ 43,800 and $ 43,150 are key Bitcoin supports, and $ 44,200, $ 44,500 and $ 45,500 also act as price resistance. If you liked my idea, follow me for more.
by MonoCoinSignal
17
BTC dipping before a potential breach of ~45,000 levelsThe 4h chart of Bitcoin is in uptrend and to breach the uptrend, a major collapse needs to happen at this point. Rather than a collapse, the chart indicates the dip we are experiencing now as a potential necessity before breaching the ~45,000 price mark. Nonetheless, RSI shows both on the 1h and 4h chart, Bitcoin is entering oversold areas. This could be a a planned move by the bulls after being rejected several times at ~45,000, exhaust the bears in a calculated dip to go long and enter ~48,000 within the upcoming third week of February. Traders should be cautious with their trades, we are still considered to be in no mans land. The winners are those who entered long trades at ~30,000 price marks
by UnknownUnicorn35305092
1
Bullish Rectangle or Double Rising Wedge?It's a major debate at this moment wether Bitcoin is forming a bullish rectangle or a double rising wedge. Regardless of opinions, when zooming out on the 1h, 4h and daily charts, it is hard not to first observe the bullish rectangle. And in the end, we care about the long term. If the rising wedge is confirming with a slight drop, it will be only short, retail stop loss hunting which will most likely not break 36,500 As we have consolidated at crucial support 38,000, it is expected that bitcoin will tackle the next major milestone at 40,000 before the big battle at 43,500.
Long
by Mortdecai
3
GBP - USD Deep TA - Final Part 4/4 -1HGBP USD TA final part 4 from the 4 parts. Overview of 1H chart and putting puzzle pieces all together. TA in 1 - 3 parts clearly pointing to continuous trend down. S/R levels, channel, pattern and trend direction . A Clasical trend down collecting pips within channel down and looks like has still got a bit way to go down. We’ve got some general picture over here for now. Someone says time to buy and jumped to BUY. I did opposite, I did open sell position. I do believe, jumping is good for fitness or fun only. I do believe in extended TA and ENTERING trades with a well chosen entry point, SL and TP levels. I would like to do some “Jumping” after profit pips collection only. Even if you missed a perfect “entry” point, you still have a trend heading in the clear direction on the higher timeframes and easily guessed reverse levels. Please don’t forget about retracements. Please be patient, check first at all higher times frames ,do TA and just after only, look for a “perfect” entry on the smaller time frames of your liking. It is not some financial advice, just my way of going through with TA and preparing for the “perfect” entry. Share your TA, thoughts , likes as well please! Long live and prosper to all traders!
by G-money2022
BTC |Technical Analysis| 1HR✅ BTC/USD ANALYSIS✅ Btc is currently in its consolidation phase after the most recent massive sell off. As you can see price has traveled quite far away from the 4H down trend line, price wants to retest this area at least one more time before continuing down. It has broken the 1hr timeframe downtrend and created higher high's. All that is left to confirm this entry is a break + retest of the 49.6 R level. As we monitor price around this area, if we see price create bullish price action then we will long it with a nice 1 : 2.5 R
COINBASE:BTCUSD
by EnlightenedFx