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SasanSeifi|A Quick Overview of Bitcoin’s MovementHey there, ✌In this analysis, we’re taking a broad look at Bitcoin's trend. As observed on the 20-day chart, Bitcoin rallied from the $16,000 range, leading to a price increase that saw it reach an all-time high (ATH) of $73,700. However, after failing to hold and close above $70,000, the price entered a consolidation phase and eventually corrected to fill the gap near $49,800. Currently, candles are closing above the critical $54,100 liquidity level, with Bitcoin now trading around $60,000. The market remains in a ranging phase. Historically, we’ve seen Bitcoin make significant moves around November each year, and as we approach the end of 2024, it's possible we could see a similar trend, whether upwards or downwards. It’s also worth noting that we have upcoming elections, which could impact the cryptocurrency market. Based on this, the scenarios we can consider are as follows: Bitcoin is likely to remain in this range or experience corrections down to the $46,600–$46,000 targets by year-end. However, a breakout and consolidation above $70,000 could pave the way for a further upward trend, with targets in the $77,700–$80,000 and $85,000 ranges. This is a long-term view, and to confirm a bullish trend, we need to see price stability above $70,000. If the price corrects to the aforementioned support zones, it will be crucial to observe how it reacts for a better understanding of the next moves. Stay tuned for updates, and don’t forget to like and follow for the latest analysis. I’d love to hear your thoughts in the comments!✌🙌 ❌This analysis is my personal viewpoint and not financial advice.
BITSTAMP:BTCUSDLong
by SasanSeifi
META Diagonal Put 95 Dec 9/100 Dec 16Bear Rally Set Up: A couple weeks ago we set a new low around 88ish which has lead this back up to the 20 day. It's actually been basing at the 20 for a few days getting ready to make another move. The overall trend is bearish. The entry point was determined by waiting for this to trade below the previous day low. Conditions at these levels solidify an entry point. As for my stops, I'm set up for max loss. So if this doesn't go my way....oh well. Next. I've got my eyes set on 95 as my target. It's out of the money target, but as I said before, the overall trend is bearish and if this does decide to head lower, it may want to fill those gaps it made before it got up here. Diagonal Spread Strategy: So,we've established this is a bear rally. I've decided to go with an out of the money diagonal strategy since this has a bearish trend and the overall tech sector is getting weaker. The charting criteria needed to enter this position has been triggered, trading below the previous days candle at the 20 day. The strike prices and expiration dates were determined by envisioning this to fall below 95 by late next week... or right around December 5the or 6th... making it's way back to the apex of the strategy and closing it out December 9th or the 8th. Position management is very simple, if this fall below 95 and stays below it come December 9th I'll just close the entire combo out and move on. I'm set up for max loss, so if this decides to trade sideways or continue higher, it won't matter to me. Trade Setup: Meta recently made a new swing low around 88ish. Since then, it's crawled back up to the 20 day and has been pretty stable in this area the last few days. Meta is also still trading below a falling 50-day SMA. This trend analysis is good to move on to the entry criteria. This rally has brought the stock back to the 20 day with lower and somewhat equal volume the last few days. Because it traded below the previous day, it triggered the entry. T.E.S.T. Timeframe: I put this out 3 weeks to hit my target. Entry: My entry was about 109.45ish. Stop: I'm set up for max loss. Target: 95 Profit Score: Potential: 15.00 ATR: 6.62 Score 2.27 Stock Outlook: -1 I'll update this as the days goes by.
NASDAQ:METAShort
by MMOTA_
1
ETH 20+100 Day EMA Crossing Upwards (again)As referenced in ETH's daily chart, within the past month, the following price fluctuations were observed upon its 20Day EMA crossing with the 100Day EMA: On February 10th, subsequent to 20/100 Day EMA crossing (upward), ETH price increased approximately 8.31% (or $9.61) within 24hrs; On March 3rd, subsequent to 20/100 Day EMA crossing (downward), ETH price decreased approximately, an additional (?) 3.76% (or $4.80); As of the time of this writing, the Daily RSI is currently @ 62 and the 20+100 EMA's appears to be crossing in an upward direction. Whether the EMA's actually crosses and action follows, TBD. This is not a recommendation, only my observations and for informational reference.
COINBASE:ETHUSDEducation
by Yur_Gr8est_Fan