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BITCOIN: A REVERSAL OR DOWNWARD MOVE.Hello readers, Welcome to this quick update on BTC in a 6-hour timeframe. In my previous update, I mentioned the $27.3k resistance level which BTC clearly didn't manage to break out, resulting in a rejection toward $26k. If this pattern continues, we can expect BTC to reach down to FWB:25K or $24.5k. This could be the possible odd scenario for BTC. Talking about the positive side, a trend reversal and breakout above FWB:27K could turn the table around. The 21 MA which was acting as a support had turned out to be resistant to BTC. A miraculous reversal could save BTC from falling any further down. What is your expectation in this current situation? Let me know in the comments. Best regards, Team Dexter.
BINANCE:BTCUSDShort
by Dexter_The_Trader
2
BTC Cycles On-Chain & MarketIn this multi-timeframe chart we look at the current BTCUSD market cycle compared to the previous cycles using both on-chain and market data. On the main pane is BTCUSD on the weekly scale. On top of the price is a on-chain grid of the BTCUSD realized price multiplied. The solid silver bottom grid line is the BTCUSD realized price with the solid red line on top of the grid being 20x of the BTCUSD realized price. On the price scale you will notice the on-chain BTCUSD realized price at 20x level successfully shows peak oversold cycle periods. An investor could use this metric as a market top selling point when the price action is above the solid red line and then crosses under. Below the price pane is two additional panes showing custom market cycle RSI values. The first pane shows my DB ZPS RSI indicator set to 4 month timeframe with a length value of 2. The second pane lowest on the chart panel shows a custom zero lag smoothed RSI output for the on-chain realized price. The investor will notice both RSI panes are very similar. Take note that the top RSI pane is based purely on market data while the second (lower) RSI value is based on-chain realized price. The curves of both RSI panes act as confirmation to each other of the cycle of BTCUSD from the 4 month level. Both RSI panes use a custom scale with oversold being at 95 plus and undersold at 20 or less. The RSI panes also use a color indicator that is based on a zero lag smoothing of the core value to show no lag changes. Maroon indicates down pressure, blue indicates change in direction building, green indicates upward pressure, orange indicates change in direction building (top forming). An investor could use these RSI values to know when the market top will happen within a 4 month period by looking for a cross under 95 value (any color). The most ideal time to buy for an investor would be when the RSI value is green in color with a less than or equal to 20 in value. The aim of sharing this high level BTCUSD market cycle idea is to give investors an idea of the current and historical market cycles of BTCUSD. If these metrics are correct, we are in the start of a strong bull cycle.
INDEX:BTCUSDLong
by thefluffyones
BTC Head and Shoulders Break Target HitWith today's price action Bitcoin has come down to test the 25,300 level. This has been a very important resistance level in the past that once it broke above this level, it needed to come back and retest as support. As we can see, there's also an upward trending trading range / trend channel (In Blue) that has held well twice before. Hopefully BTC bounces here and continues higher, ideally getting through the $32 K level. Past $32k to the upside, gives a clear path to FWB:48K to $50K, the Golden Pocket retrace of the market cycle high to low. But there are a sizable order blocks above between FWB:29K and FWB:31K that will act as a formidable resistance area (not shown). So this is going to be interesting battle. We still have an unfilled CME gap around $20k also. And there's a larger Head and Shoulders forming on the weekly chart, that if we lose the neckline support points to a re-test of the recent market cycle lows down to $16k. Our indicators show that the bottom is in, but could still be re-tested. But my bias for now is towards the upside. What do you think?
by BrettFogle
1
"May's Bitcoin Options: Deep Insights & Strategy 🎯"Fellow traders, let's delve deeper into our Bitcoin options analysis, which includes option clusters, max pain price points, oversold and overbought territories, and weekly biases. According to the chart, the $28,000-$29,000 zone appears to be a prime opportunity to buy BTC throughout the month, capitalizing on dips within the equilibrium zone. Targeting the weekly oversold zones at $30,000-$31,000 seems fitting, and for those who want to aim higher, the monthly oversold territory at $32,000 is also worth considering. To manage positions effectively, consider taking half profits off the table once the price reaches these targets and move your stop loss to breakeven. This approach allows for the possibility of the monthly options market paranoia cluster playing out, keeping your strategy flexible and adaptable. Stay ahead in the ever-evolving Bitcoin market with these deeper insights and strategic trading tips. Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always do your own research and consult with a financial professional before making any investment decisions.
BITSTAMP:BTCUSDLong
by Investing_Bridge
Bitcoin Weekly updateBitcoin weekly looking uncertain We have had a DOJI and now a White Spinning Top candle weekly closes, both show indecision, and thew week is currently in RED but PA is trying to push back up $30K just above is going to need strong PA and we are currently overbought on Daily timeframe thogh Lower are OK-ish Weekly in Good shape but a strong push now could lead to weakness after we break through. For me, the ideal situation is that we pull back for a week to around $24K. this could reset the MACD's etc and give PA a bit more Room to pmove back up and break tha $30K Wall and more importantly, HOLD it after As you can see in this chart, PA is in the Mid Way point of the rising channel and the real test is when PA reaches the upper trendline. For now, PA sitting on the 1.618 Fib line, catching its breath But this is BITCOIN, 24/7 trading and anything can happen. Fundimentals are increasing as the Banking industry realises that Crypto has NOT died and that it is still a force. Banks in the UK have turned against the Government and imposed strong Walls against Users depositing THEIR OWN MONEY in Crpyto, despite the Governments wish to become a Crypto Hub. The TradFi / Crypto War is hotttng up
by Orriginal
XRP General MovesRecent Price Movements and Potential Future Outlook XRP, also known as Ripple, has been in the news recently due to some positive developments, which have led to a price increase. However, the price of XRP has been volatile and has experienced significant fluctuations in the past few weeks. In this article, we will analyze the recent price movements of XRP and discuss its potential future outlook. Price Movements On March 31, 2023, the price of XRP reached a high of 0.588 USD, which was the highest it had been in several months. However, the price soon began to decline, and it currently sits around the 0.5 USD mark. This price decline can be attributed to several factors, including the overall market conditions, as well as concerns about the potential impact of Bitcoin's price movements. Support Levels Despite the recent price decline, there are some good support levels for XRP. The 0.5 USD mark is a significant support level, and it is possible that the price may bounce back from this level. Additionally, the 0.432 USD mark, which is where the rally started, could potentially be retested in the next few days. If this occurs, it may present an opportunity to buy XRP at a lower price. Future Outlook The future outlook for XRP is uncertain, and much will depend on the overall market conditions and the movements of other major cryptocurrencies, such as Bitcoin. If Bitcoin's price continues to decline, it is likely that XRP will also experience a price decline. However, if the market stabilizes and Bitcoin's price begins to increase again, XRP may also experience a price increase. Conclusion In conclusion, XRP has experienced significant price movements in the past few weeks, and its future outlook is uncertain. While there are some good support levels for XRP, it is important to be cautious when trading in these volatile market conditions. It may be worth waiting for further confirmation before buying XRP, especially if there are concerns about the potential impact of Bitcoin's price movements.
by Htback