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Ethereum Smashes Through Key LevelsEthereum has tumbled with the rest of the crypto market. We have blasted through a cluster of strong support levels in the $1700's and $1600's. The last of these levels at $1653 did little to provide support. We are currently testing the next level below that at $1547. We are currently seeing support there confirmed by green triangles on the KRI. If we fall further, we might see support at $1424, $1341, or $1235. If we pivot higher, then $1653 is the next target.
BITSTAMP:ETHUSDShort
by quantguy
These Factors Will Weigh on Bitcoin This Week...Strength in the US dollar and more hawkish Fed outlook has impacted the crypto market. Bitcoin has plummeted from relative highs around $25K back to support at $20.7K. We are currently seeing strong support at this level confirmed by green triangles on the KRI. But we are unable to muster the strength for a pivot at this time. If we do, then $23.9K is the next target. If support around $20K fails, then we will enter the value area between $18.6K and $20.7K again.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin The Trend Is Your Friend? Resistance Ahead.We're a couple weeks away in to seeing if we will break out of our sloping resistance we've formed since November 10th which officially marked the top of the bull market and start of the bear market. Ideally we would want to be holding above $24,000 to continue the uptrend we started since June 18th. If we can not successfully break out of this downtrend there's a strong likelihood that we fall back below a sub $20,000 Bitcoin. We will know something by the end of September. Between $19,000 - $24,000 is the range we've been trading since June. A lot of price interaction and support around the $20k - $21k price range on the visible range bars.
COINBASE:BTCUSDLong
by peacefuljustin
ETHUSDT - Plan remains the same!!!Okay folks, my plan REMAINS as I've shared previously! Looking to long ETH soon, almost at my buy zone. Plan remains the same, will enter in GREEN with a tighter stop loss, in case this rally is over in the mid-term. If this dip completes and we get another leg up, I'm targeting the squiggly top clearly as a TP area. as that will take out our previous highs of the former consolidation area. Eventually, as you know, I think this rally will retest lower in the longer term forecast, but there is likely more juice left in the tank before that happens imo so I will take this swing trade soon. Cheers! **Remember, the key here is using a stop-loss order with CLEAR invalidation.
Long
by cryptovatsik
2
Can Litecoin Hold the $50's?A stronger dollar and hawkish Fed outlook has impacted the crypto market across the board, with Litecoin plummeting from the $60's. We appeared to have good support there for quite some time, but $61.75 proved to be prohibitive, and we caved through to lower levels. We have been highlighting $55.84 as a lower bound for weeks now, and sure enough, this is the exact level at which we are finding support. If we can pivot, then $61.75 will likely be the next target. If we plummet further, watch for support at $51.92.
BITSTAMP:LTCUSDShort
by quantguy
Two Reasons Why Bitcoin PlummetedBitcoin has plummeted, likely due to a stronger dollar, and hawkish Fed expectations. Wednesday's Retail Sales data demonstrated the impact of high inflation, and the probability of another 75bps rate hike is about 50%. We smashed through $22.4K, and are hovering in the range between $20.7K and $22.4K. The Kovach OBV took a very sharp turn down, and we will see if momentum will continue, or if we can hold current levels. We are seeing some greent triangles on the KRI which could indicate a pivot, but we will need more momentum to follow through.
BITSTAMP:BTCUSDShort
by quantguy
4
August 19 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart Bitcoin is down 2.1% over the last 24 hours and fell to an intraday low of $22,875.16. Bitcoin dropped the 20-day exponential moving average (EMA) ($23,412) today, and the relative strength index (RSI) has dropped below the midpoint, suggesting the market optimism reverted to a sellers' market. For now, the bears will attempt to pull the pair below the 50-day simple moving average (SMA) ($22,274). Today’s Cryptocurrency Headline Tether Hires Top 5 Accounting Firm BDO for Reserve Attestations Stablecoin issuer Tether announced on Thursday that it has partnered with BDO Italia, the Italian arm of the world’s fifth-largest accounting firm, to issue assurance and attestation reports of its reserves. Tether will no longer work with the Cayman Islands-based accounting firms Moore Cayman and MHA Cayman. Tether began working with BDO Italia for quarterly attestations in July, Tether said, adding that it plans to move to monthly attestations. Tether also plans to conduct a full audit in the future. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
Bitcoin Breaks SupportBitcoin has broken down through support at $23.9K. We have been teasing this level for a while now, and finally broke through. We anticipated lower prices, as several attempts at higher prices, including $25.1K have failed swiftly. We are currently in the vacuum zone above $22.4K. The Kovach OBV has slumped, indicating that momentum has petered out for now. We need some buyers to return to the table before anything significant happens. If so, $23.9K and $25.1K should provide steep resistance. From below $22.4K should provide support.
BITSTAMP:BTCUSDShort
by quantguy
August 18 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart Crypto lending platform Celsius Network lawyer Josh Sussberg said it has received several undisclosed offers to inject funds into the company and has received approval from a U.S. judge to sell the bitcoin it mines. Celsius mined $8.7 million worth of bitcoin in July, but the company’s operating and capital costs exceeded that amount, according to a filing before the hearing. Today’s Cryptocurrency Headline Celsius Receives Cash-Injection Offers and Approval to Sell Mined Bitcoin Dune Analytics data shows that the number of ENS domain names created has exceeded 2 million. Bitcoin is down 2.4% over the last 24 hours and fell to an intraday low of $23,175.84. Bitcoin has been trading around the 20-day exponential moving average (EMA) ($23,488) today, suggesting the 20-day EMA is acting as strong support. The relative strength index (RSI) has dropped close to the midpoint, indicating the bulls are losing control. If the bulls cannot hold the price above the 20-day EMA, the bears will attempt to pull the pair below the 50-day simple moving average (SMA) ($22,221). Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
GALA - Key level for Long or ShortIf you want to trade GALA, here is how I would do it. Long target with SL and short target with SL. These need to be tight stop losses imo, with short-term target swing trades. Not looking to accumulate in this choppyness, but could easily play this if we get another leg up or if this fails and it breaks down. Personally I do care which direction it goes, but will play it as I see fit. If we get a nice reaction to the previous S/R we broke which is now support, I will enter a long. If we break down further and get a bearish backtest I will short it with invalidation above the level. May low is broken, no longer support and now minor resistance, not a significant level imo but possibly a good determination of weakness or strength in the next move. V
by cryptovatsik
BTCUSD (up then down)Just an idea and trade at your own risk. Bitcoin still remains bearish. Bitcoin is currently in a short uptrend correction phase (white lines) after breaking the support (previous demand zone) the red dashed highlighted area. Short term Bitcoin bullish to finish its correction phase and reach the upper downtrend channel (red lines) to retest the previous broken support demand zone (currently the supply and resistance area) at area 28k-30k, before resuming its down fall to next targets at the lower downtrend channel at area 12k-13k.
BITFINEX:BTCUSD
by WaelHaz
Bitcoin Clings to SupportBitcoin is back to support after an attempt at a rally got batted down at $25.1K. We saw another brief attempt that could not even make it past $24.4K before immediately retracing back to support. The level $23.9K appears to be holding, the failed attempts at higher levels could be a bearish sign. The Kovach OBV is roughly level, but does appear to be increasing slightly. If we do see a rally, $25.1K is the level to break before considering higher levels. If support gives out then $22.4K is the next target.
BITSTAMP:BTCUSD
by quantguy
August 17 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to Glassnode, the Number of Ethereum addresses in profit (7d MA) just reached a 3-month high of 5224410.732. Bitcoin is almost flat over the past 24 hours. The largest cryptocurrency attempted to sustain above the psychological resistance at $25,000 for the past three days, but the price could not sustain the higher levels, indicating a loss in upside momentum. If the bears push the price below the 20-day EMA ($23,512), the BTC/USDT pair could find support at $22,000. Today’s Cryptocurrency Headline Aave Says On-Chain Wallet Address Censorship will Require DAO Consensus DeFi lending protocol AAVE stated that wallet monitoring due to government sanctions cannot be implemented at the smart contract level unless the community agrees. Aave said: “As for on-chain, contract-level as it applies to the Aave Protocol, the Aave smart contracts are decentralized — no one person or entity can change, control, update or shut down the protocol. For any change to occur to the protocol, an AIP would have to be proposed, voted on, and approved by the Aave DAO.” The DeFi lender also clarified that the recent block on wallet addresses with indirect Tornado Cash interactions only occurred on its front-end app. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
August 16 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to CoinShare, digital asset investment products saw minor outflows last week totalling US17m. Bitcoin is down 3.08% over the last 24 hours and fell to an intraday low of $23,776.50. The largest cryptocurrency attempted to sustain above the psychological resistance at $25,000 for the past two days, but the price could not sustain the higher levels. This suggests that bears are active at higher levels. If buyers push the price above the overhead resistance at $25,000, the BTC/USDT pair could pick up momentum and rise to $28,000. Today’s Cryptocurrency Headline Galaxy Digital Terminates its Acquisition of BitGo Galaxy Digital announced Monday that it would terminate its deal with cryptocurrency custodian BitGo. It said in a release that it had decided following BitGo's "failure to deliver, by July 31, 2022, audited financial statements for 2021 that comply with the requirements of our agreement." The release also said that no termination fee is payable. In May 2021, Galaxy Digital announced the acquisition of BitGo for $1.2 billion. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX