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BTC needs to get back above 50kA lot of time left in this week but there's a ton of bearish signs here for BTC. One of my key issues is with renewed evergrande default drama and my bearish take on traditional markets, because crypto is adhering to it so closely BTC can show lots of different signs and it doesn't really matter. If traditionals go down, BTC will break patterns. We have formed a higher low, thats a long signal, but I'm not sure I want to bite on it just yet, will give it a few more days candles and see what comes about. No need to be throwing money here, sitting in stables is a great bet. One thing I will leave this on is betting at bottom of ranges, weve come down to 50k, bet long? Its at these big levels that fortunes get made and lost, this isn't 30k but its still a major level.
by tommytoan11
BTC Bitcoin Technical Analysis Taking a look at Bitcoin BTCUSDT. It has traded down to a key level on the weekly and currently ranging sideways. I'm looking for a trade opportunity i.e. a break and re-test of the current balance area. My overall bias is bearish in the HTF however given that we've traded down to a big level and price looks over-extended I can see that there's room for this to retrace so we might see a bit of upside. This will only be confirmed with a breakout, retest and fail of the current range. Not financial advice trading is risky please make sure you have your risk management in place at all times.
by tradingwithanthony
Olympus DAO (OHM) Was $430 the Bottom?Clearly we've been in a bear market trend for Olympus DAO and many other DAO's. A big 70% retrace from it's swing high of $1360 Olympus DAO has been in a downtrend for the past 2 months and we're still trying to find a bottom. I personally believe we're coming close to finding a bottom for Olympus DAO and $430 may be it. However we're still on a continuation of this downtrend so waiting for clear signs of reversals and change of trends is important. But on our RSI readings we've formed some deep troughs and we may be nearing a bottom soon. Much peace, love, health, and wealth!
OLong
by peacefuljustin
Possible continuation of bullish sentiment in the near termWe need to watch the 4D and 8D timeframes and check if the white energy in the 4D crosses above 50 level before the red RSI in the 8D crosses below 50. If it does we have hope of seeing a continuation of bullish sentiment in the local area and seeing BTC stay above 50k, possibly forming higher high at 42k for another new leg higher. A beginning sign of bullish sentiment may be found in the lower timeframes, and a bounce off 48800 some hours earlier back above 50k is also significant in the sense that we are seeing the formation of higher low, higher high in the very local area after the flash dump last week, and that the daily 200 EMA at 50k more or less is a significant psychological watershed for BTC not to close below for it to have a meaningful chance of continuing its bull run thesis. If however BTC drops and closes below 50k and also 46400 which is the daily 200 SMA, one must then consider the bull run scenario seriously threatened. That would not be a good sign to see the price closing below both of those two MAs when the global equity markets are on the verge of collapsing, easily bringing a weakening, flagging BTC bull run to a swift end.
by Popovich
1
Gann Percentage Movements IntroductionW. D. Gann described many types of numbers that he calculated on a daily basis. He worked mainly with percentages based on the dollar and the number of months and weeks of the year in accordance with Astrology. Some of his more popular numbers were: 6.25% 12.50% 18.75% 25% 33% 37.5% 50% 62.5% ....and so on. He also wrote about the rule of 8, 9, 10 and even numbers. For this simple example we are using 6.25% and Bitcoin as the asset. ''One of the greatest discoveries I ever made was how to figure the percentage of high and low prices on the averages and individual stocks. The percentages of extreme high and low levels indicate future resistance levels.'' W.D. Gann 1949.
INDEX:BTCUSD
by EsotericTrading
5
Bitcoin (BTC) • Pain in the market looking like opportunity Very welcome correction that flushed around 9B in open interest from the Futures. A drop of around 40% from the local high. This is good news considering that massive rejection we got around 42k. Now we need to be aware that there is ongoing downtrend and momentum pressure but structurally speaking and from the what we can observe in the futures is looking good. It's is possible we retest the lows once against, including quick tap into 39-41, but I see PA remaining above 54k as a good thing. A lot of the sell volume god absorbed. in the spot markets since books were dense. But main looser was defiantly the Futures markets where some contracts even briefly went to backwardation.
COINBASE:BTCUSD
by D7R
7
JUST CLOSED UNDER A BEARISH PENNANT PATTERN JUST NOWso it may look like we may be going back down to test the 53500 and possibly to the 51200 and if that happens then i believe the bottom will be in and it will be time to buy the dip and go parabolic up to min the major resistance that has been holding us down now for over a month and if we can close a candle above the 59300-6k=0k then we are going to see a new ATH to 70K+ yesterday i talked about a triple top and thought we were going down yesterday as i said in video but we went up again to test some resistance and there was a bullish macd divergence that played out but the dynamic emaS held us down from not going too far so we have made a 4th top and now sit at a quad top and another reason i think we will go see our bottom before our all new highs
BYBIT:BTCUSD.PShort
by TRADERBUG_TECH
Bitcoin (BTC) • No sign of strength yet still neutral waters In this video we take a look at usual technical levels and what is looking good and what is not. I'm not yet seeing structural and momentum strength coming from PA at the date of this video despite the move from 53 to 58k. I didn't have time to cover many other points put hopefully it helps viewers to developed other nuanced interpretations of the data available to us. Remember to keep EGO in check. "The market is the teacher. Ego is the enemy."
COINBASE:BTCUSD
by D7R
16