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Bitcoinusdt

Quick Update on BTCSupport Zone 1: 29k - 33k Support Zone 2: 38k - 42k Resistance Zone: 47k - 51k The ultimate goal is to get above the resistance zone AND the bigger descending triangle and get at least 2-3 daily candle close above. For now, BTC is struggling to stay within the resistance zone so we can't be too conclusive about the trend yet. One thing to note is that we got a daily candle close above the 50 MA and 200 MA which normally is a bullish thing to do. I have to add that the stock market continues to go down, and normally this impacts BTC, but for now it hasn't. We may see a decoupling for the next few months where BTC runs to new ATH's. When BTC went from 65k to 30k, the price of S&P 500 made new ATH's and at that time the stock market did not impact BTC. The theory is that BTC might do the same now where it runs to new ATH's where at the same time we see a correction in the stock market. ------------------------------------------- What are triangles when it comes to trading? Key points: "1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape. 2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure. 3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles." ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
Long
by MBM_Crypto
4
BTC "PITCHFORK TRADING STRATEGY" (ON THE ROAD TO 130K)Hello everyone ! Today the Black Cat Trader is analyzing BTC on a weekly chart. What we can see : - By using the Andrew's Pitchfork into on one of the first BTC impulsive wave back in 2012, we can identify a very nice long term uptrend for bitcoin (Low = 2,25 ; High = 1163 ; Low 198) . Thanks to PF, supports, resistances and possibilities for futur growths can be easily identified. - By extending horizontal lines (purple) from previous ATH to lower lines of the pitchfork, we can clearly identify the potential zone where BTC could make its new ATH : ATH (25 Novembre 2013) = 1172 $ Extended line (from ATH to the lower line of the pitchfork) = NEW ATH (19.680 $) ATH ( 11 décembre 2017) = 19.680 $ Extended line (from ATH to the lower line of the pitchfork) = POTENTIAL NEW ATH (130.000$) What we can expect : Regarding the actual situation and based on the datas we have, we can expect two scenarios: (N°1) Bitcoin manages to break the intermediary lower median line of the pitchfork (which is actually a resistance) to turn it into a strong support to go higher. Then we can expect that bitcoin will make a new ATH located at minimum on the median line of the pitchfork (red one) - Resistance : intermediary lower median line of the PF - Strong support : lower line of the PF TAKE PROFIT : 130 000$ ((Median line of the PF) (N°2) Bitcoin fails to break the intermediary lower median line. In this situation, we can expect that Bitcoin could bottom on the lower line of the PF which would be a very good opportunity to buy btc low. Major support : Lower line of the PF IF YOU LIKE THIS POST, FEEL FREE TO FOLLOW THE BLACK CAT TRADER AND LEAVE A LIKE (D.Y.O.R)
BITSTAMP:BTCUSDLong
by Hector_Bienvenu
7
XRP Story !Ripple! Ripple and the story of the court and the lawsuit and the paperwork have probably ended up in Ripple's favor! Be careful -> Probably! So from a technical point of view, Ripple is in a downward channel in daily time frame! And we know that descending channels are basically broken from the roof! Also, the price above the midline of the channel is forming a downward corner pattern. (Descending wedge) (descending wedge indicates price growth) So the evidence shows, if Bitcoin closes its weekly candle above 38K! We will probably see the growth of this adventurous Altcoin and the remnant of growth!
by GODsPLAN777
FIB projection with PMB inversion. BTC poised for reboundAfter the broader market gets this minor correction out of it's system, BTC will be poised to rebound strongly with limited BT availability and widespread adoption. Market should show recovery for several days before going long in BTC. BTC simply being pulled down by the "drowning man" market. I think 80k BTC by year end is VERY doable, and this is a great buying opportunity. I expect another week or two of volatility.
B
by hherbson
Bitcoin in a Daily Flag.The price of Bitcoin is currently located in a pattern flag, which suggests that a certain momentum is being accumulated and we may see a strong move to the upside or downside. Considering that this formation has been created from a leg up in uptrend, the bias should be a break to the upside. A clear break of $49000 will be a confirmation, that we will continue to see extended gains. However a break of $46700 will lead to extended losses to daily 50 EMA at $45500 with dips even lower. A break to the downside would be a pretty bearish sign as Bitcoin doesn't currently have that much room to breath in order to remain bullish as the EMA's are coming close together.
by TiborVrbovsky
1
Bitcoin dejá-vu with Feb 2021.Consolidating towards a symmetrical at 47,290. (My opinion on this 50/50 : Could maybe go under, around and up 46,900+. Down if dropping under 46350, still bull. probably still solid support on 42k. ) The conditions where it is in: MACD levels low and momentum decreasing are eerily similar to an earlier run at 50k. www.fxstreet.com "Bitcoin wavers in a range above $45,000, keeps monthly support line breakdown while trying to defend 21-day SMA. Downward sloping RSI, receding MACD strength join sustained trading below short-term support line, now resistance to favor sellers. 50-day SMA, ascending trend line from December 11 favor will offer strong support. Bulls should wait for successful run-up past-$50,000 for fresh entry. Bitcoin bulls lick their wounds below $50,000, currently around $48,400 while trying to tame the downside break of a short-term key support line, now resistance, during early Wednesday. In doing so, the quote tries to justify its bounce-off 21-day SMA but the downward sloping RSI line and receding strength of the MACD signals suggest further challenges for the crypto optimists. As a result, a clear break below the 21-day SMA level of $47,290 will direct short-term BTC/USD sellers toward 50-day SMA, currently around $40,250. However, any further weakness will be tamed by a 10-week-old support line, at $35,900. In a case where the crypto major fails to bounce off the key support line, odds of its drop to the monthly low near $32,000 can’t be ruled out. Alternatively, corrective pullback beyond the previous support line, at $49,700 now, will have to cross the $50,000 hurdle to recall the BTC/USD buyers. Following that the latest high of $58,355 can offer an intermediate halt ahead of directing the run-up to the $60,000 round-figure. To sum up, Bitcoin’s latest pullback is likely to extend but the bulls aren’t out of the woods."
by CryptoCreeper90210