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BLX Still Shows A Broken Trend And Slower Growth For BitcoinZoomed in, you can see price is butting right up against that broken long term trendline, while the weekly oscillator is reaching the overbought zone. Price has also yet to reach the bottom of the curved channel (pink) The BLX chart is also mostly dominated by sell volume. Another odd thing to note is the enormous spike in volume on stablecoin traded pairs throughout the market turmoil, and specifically during the week of the SVB collapse. Even more perplexing is the huge drop off in volume as Bitcoin began to trade mostly sideways after that. Here's the Binance BTC/USDT chart as an example If Bitcoin is to touch the bottom of the curve on my BLX chart, we could see a retest of the $15.5k low at minimum. My guess is that Bitcoin will ultimately fall out of the growth curve and trend lower over time. I made a speculative downtrend channel, giving Bitcoin perhaps a few more weeks of sideways and a possible new failed high. Due to the nature of Bitcoin's support (in that it is essentially an idea), it is unlikely to drop instantly to zero, but instead trend lower and lower as people lose interest over time. Most still in the market seem to be bullish right now, already making projections for the next bull run. It's important to note that while SPX is still above 4000, Bitcoin is less than half of its all time high. Should traditional markets experience a more significant decline, I cannot imagine there would be enough liquidity to sustain another Bitcoin bull run. But....we live in strange times. It's perfectly possible that I'm completely off here. Nevertheless, I'm sticking to my view for fundamental reasons. If Bitcoin continues onwards to a new all time high, I don't think it'll be accompanied by anything good...though I suppose that's part of the bullish Bitcoin thesis :) As always, this is my opinion only and should not be taken as financial advice. This is meant for speculation and entertainment.
BNC:BLXShort
by VictorCobra
1
Bitcoin BTC Price Targets after the FOMC meeting this weekThe upcoming FED meeting on May 3rd could cause a further decline in the crypto market due to the potential rate hike and ongoing unease around banking system developments. The outlook for the crypto market after the upcoming FED meeting on May 3rd is bleak. Fears of a deep credit crunch caused by Silicon Valley Bank's collapse have not yet materialized, and the financial situation is much steadier. Additionally, inflation remains elevated, and with evidence of stubbornness in underlying inflation, it could be in the 4% to 5% range, far above the 2% inflation target. The markets are pricing in a 25bp Fed Funds rate hike to 5.25% at the May FOMC meeting, and given the steadiness in financial markets, persistence in price pressures, and continued decent activity, this could contribute to a further downturn in the crypto market. BTC /USDT short Entry Range: $29000 - $30500 Price Target 1: 26600 usd Price Target 2: $25300 Price Target 3: 23200 usd Stop Loss: $33500
Short
by BuySellMarketMaker
Bitcoin -> Time For The Next RallyHello Traders, welcome to this free and educational multi-timeframe technical analysis. On the weekly timeframe you can see that Bitcoin is actually approaching a quite obvious previous weekly support zone which is now turned resistance exactly at the HKEX:32 ,000 level. However you can also see that weekly market structure is still bullish, moving averages are bullish and in my opinion we already created the bottom of the bear market, so I am now just waiting for a deeper push into the HKEX:32 ,000 resistance before I then do expect a short term rejection towards the downside. On the daily timeframe you can see that we are back to bullish market structure on Bitcoin, we also broke above a previous daily resistance at the HKEX:29 ,000 area so I am now just waiting for a retest of this previous structure and then I do expect a next short term rally towards the upside from there. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
BITSTAMP:BTCUSDLong
by basictradingtv
38
My thoughts on BNB I just have to share my sincere view, I think BNB is going for an unpleasant bottom. Fundamentally, I think a deep bottom for cypto markets is possible due to the USD liquidity problem, it might affect crypto just like the banks have been affected. Afterall, exchanges ,like banks, also depend on USD. If you look at the USD supply M2 chart, you'll see a shart decline in USD supply has been going on for a couple months now.. and probably continuing. Which ,if continues, can lead to a liquidity problem for markets and would send DXY (usd) up.
by LindXLawliet
1
Market AnalysisUnemployment claims are lower than expected (down) GDP is only 1.1% (the dollar will rise slightly) Personal expenditures are fronted by 1%, soaring to 3.7% (bad) Core PCE increased from 4.4% to 4.9% (bearish) Analysis: The U.S. economy is worse than expected and has clearly entered a recession. However, inflation and personal consumption are set to soar, proving that QT isn't enough. After this data, big possibility for FED to raise more interest rate. The stock market and crypto will at least dump for another 10% or more. Personal market analysis, for reference only
Short
by INFINITY8CADEMY
Bitfarms pullback before an attempt to go higher As BTC is pointing toward a pullback to the 21-20k area we can reasonably assume bitcoin mining stocks will also correct. NASDAQ:BITF is looking to go to the $.75-.60 support area before gearing up to go higher to $2, the next area of resistance. On the fundamental side the company is one of the stronger miners with one of the highest Bitcoin mined per 1 EH/s metric twitter.com . Just as long as there is no addition share dilution I expect Bitfarms (and other miners) to outperform Bitcoin in a bull market on the run ups.
NASDAQ:BITFLong
by MostlyGood
BTC faces resistance at 29.9K.Will it retest or fall back down?*** DISCLAIMER No Financial Advice *** Bitcoin retraced backup with the microsoft and google beating earnings but NQ1 still didnt respond because the earnings was post market. So today it could go a little bit higher which will get btc around 29.8K hitting the white bold line and making a new high OR we could jebait and continue the dump Bottom line is that crypto & stock markets are super bearish, and any upside move is a jebait or short squeez. Please consider supporting me by Boost,Comment,Follow and sharing the video
BINANCE:BTCUSD.PShort
by pcmonk
1
Bitcoin | Head and Shoulders Well, well, well, look who's got their head in the game and their shoulders above the rest! You've spotted the head and shoulders pattern on the chart, and now you're ready to shoulder your way to success! After closely analyzing a chart, you noticed a distinct pattern that caught your attention: the head and shoulders pattern. This technical analysis pattern is characterized by a peak (the "head") that is flanked by two smaller peaks on either side (the "shoulders"), creating a visual shape that resembles a human head and shoulders. The pattern is often seen as a sign of a trend reversal, and can be used by traders to make informed decisions about buying and selling. By identifying this pattern on the chart, you have gained valuable insight into the market and can use it to inform your investment strategy. While technical analysis patterns can be a useful tool for traders, there are also risks involved. Here are some potential risks of trading patterns: False signals: Technical patterns can sometimes generate false signals, which can lead to incorrect trading decisions. For example, a pattern may appear to be forming but then fails to materialize, or a pattern may appear to indicate a certain trend but then reverses unexpectedly. Over-reliance on patterns: Relying too heavily on technical patterns can lead traders to overlook other important market factors, such as economic indicators, company news, and geopolitical events. It's important to consider a variety of factors when making trading decisions. Limited information: Patterns are based solely on historical price and volume data, which may not provide a complete picture of the market. Traders may miss out on important contextual information that could impact their trades. Market volatility: Markets can be volatile, and patterns may not always hold up in such conditions. Traders need to be prepared for sudden shifts in the market that could disrupt their trades. Emotional biases: Trading patterns can sometimes trigger emotional responses in traders, such as greed or fear, which can lead to poor decision-making. It's important to stay objective and rational when analyzing patterns and making trades. Overall, while trading patterns can be a useful tool for traders, it's important to approach them with a critical eye and to consider a variety of factors when making trading decisions.
Short
by xuk1