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Bitcoindown

More Downside, due to market-sentimentHello everyone, so looking at the weekly timeframe, the price of Bitcoin is still below the 200-moving day average. The stochastic RSI is still oversold, meaning that I am still bearish on Bitcoin. On the other hand, today is July 1st, a brand new month for Bitcoin. Also, it's now Quarter 3 for the economy. Fears of recession and inflation are still looming, as we still see the stock market and crypto reacting to the market sentiment. Yesterday, we found out that inflation still went up for the Eurozone. This means that inflation will likely go up for June's CPI data. I think we are already in a recession since the Federal Reserve of Atlanta released their Quarter 2 "GDPNow" forecast ending at a negative 1% decline. This week, we also had the announcement that Quarter 1 GDP was revised lower to -1.6%, compared to the original GDP data of -1.5%. Now that the FED of Atlanta has their Q2 GDPnow at a negative, that means we are in a recession right now. We would have to wait for an official announcement from the U.S Bureau of Economic Analysis. We are already seeing signs of the economy slowing down as many tech companies are starting to lay off workers. Retail is now seeing less traffic in their store as their revenue has been going down. Now, what does this all relate to Bitcoin? It relates to Bitcoin because it will have a negative reaction once the official announcement of a recession is out, while inflation persists. That's why I still expect more downside to the $16,000- $14,500 levels as it is going to draw investors away to save money through a recession. Once we fall more, expect alt coins to fall even further. May I be wrong on this? Absolutely! This is not financial advise, so please conduct your own research. My reasoning is all due to global market sentiment; which includes inflation, supply chain, and recessionary fears.
COINBASE:BTCUSDShort
by brandonreymejia
2
Revised Bitcoin Trend analysis on Weekly Time frame If BTC consolidate between 28643 to 32485 and it breaks upside will lead to Target of 37900 to 38000 If BTC consolidate between 28643 to 32485 and it breaks downside 28600 It will lead to downward Journey very fast. below are downside Targets 1st 25475 2nd 19300 3rd 12900 (In case drastic changes in global environment) Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any trading decision. Leave a comment that is helpful or encouraging. Let's master the markets together.
BYBIT:BTCUSD.P
by sbkurandwad77
Bullish Butterfly on BTCDOWN | HourlySo we just had a mad run on Bitty and the battle is being fought for the $40k line. The big massive outer Gartley and broader trend on my screens shows that we had a nice rally, possibly another short push up but the regulators, Binance HK FUD and all of that will reign fire and brimstone until JPM can get their Bitcoin on the cheap, get it under regulatory scrutiny an then start selling it to all the noobs out there looking to get their feet wet in crypto. For now, the intradaily shows that we may be looking at some DCA points for a ride down (but up on BTCDOWN). As always, DYOR and this isn't "investment advice" lol
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by FudBox
2
Bullish Butterfly | Bitcoin DownWe've got a bullish butterfly pattern on BTCDOWN after that mad tear run up. If you followed my idea on BTC then maybe you made some $$ on that run. So it's that time again, and I'm slightly bear mode now. I would expect some engulfment at the wick where Bitty liquified some crispy burnt shorts. Bitcoin could make it to $42,500 or so as it might push into the upper channel of a modified Schiff pitchfork (see my recent Bitcoin idea). For now, DCA is always the way and I'll probably add this to my port at the indicated entry. As always, DYOR and this is not a substitute for professional investment advice. Good luck!
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by FudBox
Scalping BTCDOWNUSDTThis is a pretty reliable day trading product. The Binance Leveraged Token (BLVT) for taking a short position on Bitcoin is slick, in that the leverage varies to maximize gains and minimize losses. Given the variable correlation to BTC price action and volume, since it's not a direct 1:1, the charting of it feels slightly more reliable. I personally would rather trade this than straight up BTC long / short. As BTC is looking to head upwards of possibly even 42.5K, it might make sense to DCA in. I'm overall bearish on BTC given a weekly H&S top but I like these interim rallies to build short positions with BTCDOWN. As always, not investment advice, and good luck!
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by FudBox
BTCDOWNUSDT Binance Bullish - Bearish BitcoinNot Investment Advice As BTC forms a bearish consolidation, BTCDOWNUSDT seems to be giving us some clear insight to the overall interim direction. BTC loves to pull fakeys, breakout reverse to it's indicated directional flag or pennant patterns and then reverse again to follow the more classical and natural progression. I can see BTCDOWNUSDT following suit with a fakeout to the downtrend line shown here, and then up. I'm using a reverse Fibonacci extension here because the feature placements show better conformation to the retracement levels. I prefer trading this over straight up BTC in this market, though I do take scalps on BTC occasionally. Given the broader downtrend on BTC, I'm generally more bearish on BTC and would rather live through a bottom wick flash crash here (short squeeze on BTC, always check shorts) than try to recover from a flash wick long liquidation on BTC, better odds right now. Good luck!
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by FudBox
1