btc short setupbtc formate bearish triangle dump is coming first target is 32k support if not rejected from this area wi will see 30k
Btc-usdt
BTCUSDT.1DBased on the provided market data, the current price of Bitcoin (BTC) stands at 33,892 USDT. The relative strength index (RSI) for the 4-hour, 1-day and 7-day periods are 1312.09, 1241.01 and 743.80 respectively. These values are significantly higher than the typical RSI threshold of 70, suggesting that BTC is currently overbought and may be due for a price correction.
The 4-hour, 1-day and 7-day Moving Average Convergence Divergence (MACD) values are 93.50, 88.61 and 70.43 respectively. These positive values suggest that the short-term momentum is currently stronger than the long-term momentum, indicating bullish market sentiment.
The Bollinger Bands for the 4-hour, 1-day and 7-day periods stand at 34496, 32378 and 33432 respectively. The current price is slightly below the 4-hour and 7-day Bollinger Bands, suggesting that the price is in a "normal" range.
The support levels indicate the price points at which we can expect a lot of buying activity. If the price of BTC falls to these levels, it could trigger a price bounce. The resistance levels, on the other hand, indicate the price points at which we can expect a lot of selling activity. If the price of BTC rises to these levels, it could trigger a price drop.
In conclusion, the overall technical analysis suggests a bullish market sentiment for BTC in the short-term, as indicated by the high RSI and positive MACD values. However, the significantly high RSI values also suggest that BTC is currently overbought and may be due for a price correction. As such, traders should proceed with caution and consider setting stop-loss orders to protect against potential price drops.
Not quite there yet...Howdy fellas!
Figured I'd come back and update from the last time I put this chart out there.
I am not playing the bear game here, but if history repeats itself, we still got that big dump before bull run begins.
You might wanna take some profits at the end of this run, as this supposed dump happens in about 9 weeks. Once it starts in drops quick and the move down should be done in 3 weeks.
I can always be wrong friends, so do not run your trades based on my words.
Trade thirsty!
🔥 Bitcoin Killed The Bears: Big Push Coming!After being bearish over the last two months, I've switched my bias to neutrally bullish. The main idea behind my bearish bias was the fact that BTC reversed from the top resistance of the parallel channel. That, combined with pre-halving years being 50/50 green and red, made me think there was more in it for the bears.
However, I always wrote that a bullish break out through the top resistance would be an indication of strength, hence the switch to a more bullish outlook.
For now, the 2023 top of 31.800 is the target to beat (yellow). A push through there could result in a new prolonged bullish trend towards the 40k area or even higher.
Things are looking much better than last month. Time will tell.
BTCUSDT.1DBased on the market data provided, BTC is currently trading at $29,919.43 against USDT. The Relative Strength Index (RSI) is above 70 on the 4-hour chart and above 76 on the daily chart, indicating that the cryptocurrency might be overbought. This could mean that a price correction might be coming soon.
The Moving Average Convergence Divergence (MACD), an indicator used to identify potential buy and sell signals, is positive on the 4-hour, daily, and weekly charts, suggesting bullish momentum in the short, medium, and long term.
The Bollinger Bands (BB), which measure volatility, are at $30,556.36 on the 4-hour chart, $30,134.20 on the daily chart and $31,583.20 on the weekly chart. The current price is below the BB on all three charts, which could suggest that BTC is oversold and could bounce back.
The support levels on the 4-hour chart are at $29,615.20, $28,011.20, and $27,007.20, and the resistance levels are at $30,397.20, $31,693.20, and $32,418.20. On the daily chart, the support levels are at $28,602.20, $26,660.20, and $25,993.20, and the resistance levels are at $30,239.20, $31,038.20, and $32,361.20. On the weekly chart, the support levels are at $28,158.20, $26,311.20, and $24,758.10, and the resistance levels are at $30,990.20, $32,218.30, and $34,700.00.
In conclusion, the market data suggests that BTC is currently overbought and could be due for a price correction. However, the positive MACD indicates that there is still bullish momentum. As always, it's important to consider other factors and do thorough research before making any investment decisions.
🔥 Bitcoin Spot ETF Approved: BUY THE RUMOR & SELL THE NEWS 🚨The BTC spot ETF has finally been approved, but will it result in the massive bullish pump that EVERYONE has been expecting.
My answer: No.
It's public knowledge that the Bitcoin spot ETF will be approved at some point now for months. Thus, most traders have already bought a position in anticipation.
Like nearly every ETH/BTC ETF news we got this year, I'm anticipating this to be a Sell The News event.
If there's something that I've learned over the years, it would be that if everyone expects a certain outcome, the opposite will often happen.
Yes, this is long-term great news for Bitcoin. However, I highly doubt we're going to see the massive shift in trend that people have been hoping for.
Nevertheless, I'm happy to be wrong, as a new high this year would definitely be against my expectation. The market has to prove it wants to go up first before I believe it.
Be warned.
Bitcoin (BTC) unleashes intriguing short with epic 3.8% spike Today - In a jaw-dropping turn of events, roared back to life at the beginning of this week, stunning market participants with an electrifying surge of 3.8%. The rapid ascent sent shockwaves through the crypto market, resulting in an avalanche of totaling a staggering $75.23 million within the last 24 hours alone.
🔥 The Dollar Is Predicting A Bearish BitcoinThe dollar index (DXY) is inversely correlated to the price of Bitcoin. To make it easier to read I've inversed the DXY.
The direct correlation between the two assets has everything to do with risk. In a trading environment where investors are happy to take risks, they are willing to spend their dollars (downwards pressure) and buy risky assets (upward pressure). The inverse is true as well, as investors dislike risk, they will sell their risky assets and are happy to sit on their dollars.
As seen on the chart, the relationship between the two assets is remarkably similar. With the DXY gaining in strength recently (or selling off in the inverse chart), I'm anticipating more bearish pressure on riskier assets like BTC.
Bitcoin is holding up for now, but I'm assuming a stronger bearish trend in the near future.
Share your thoughts in the comments 🙏
🔥 Bitcoin Short-Term Outlook Very Bearish: Prepare For Dump 🚨After trading relatively bullish for nearly a month, the bears are back in the game on the BTC chart. The diagonal purple support has failed and the bears have pushed through.
Most important thing of the break out has been the retest of the support as resistance, which nearly always confirms the change in direction.
I'm waiting for BTC to fall through the local lows of 26,500 before considering an entry. Target at the September lows, stop just above the most recent local high.
Note the yellow support. This can cause a short-term reversal due to shorters taking profits and bulls buying from support.
BTCUSDTBased on the given market data, BTC is currently priced at 27381.0 USDT. The Relative Strength Index (RSI) for 4 hours, 1 day, and 7 days are 35.72, 56.51, and 53.28 respectively. The RSI values indicate that BTC is nearing oversold conditions in the short term (4 hours), but is in a relatively neutral position in the longer term (1 day and 7 days).
The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day, and 7 days are -68.90, 296.0, and 233.0 respectively. The negative MACD for 4 hours suggests a bearish trend in the short term, while the positive MACD for 1 day and 7 days suggests a bullish trend in the longer term.
In terms of Bollinger Bands (Bb), the 4-hour, 1-day, and 7-day bands are located at 27758.0, 27101.0, and 28045.0 respectively. The current price is slightly below the middle band in all three time frames, suggesting a neutral to bearish trend.
The Support levels for 4 hours, 1 day, and 7 days are 27132.0/26970.0/25881.0, 25965.0/26057.0/25350.0, and 24680.0/21516.0/19520.0 respectively. The Resistance levels for these time frames are 27637.0/28000.0/28600.0, 28380.0/28774.0/30175.0, and 28578.0/32800.0/33500.0 respectively.
In my opinion, BTC is showing signs of short-term bearishness but long-term bullishness. Investors should keep an eye on the support and resistance levels, as well as the RSI and MACD for potential buy or sell signals. Please note this analysis is based on historical data and does not guarantee future performance. Always do your own research and consider your risk tolerance when investing in cryptocurrencies.
BTCUSDTThis is a 1D frame analysis for BTCUSDT The price attempted to start a movement towards our static resistance line but as you can see the price ended with a negative candle below the resistance line. However, at the moment the price is above our first support line and we can have two scenarios. The first scenario is that the price after the support of the first support line has the opportunity to start a movement towards its own resistance lines once again. The second scenario is that if the price breaks and consolidates below our support line it can move towards our next support. However, due to the selling pressure and yesterday's candle, we can have a short-term correction.
🔥 Maximizing Gains: How to Play the BTC/GOLD RatioIn this analysis I want to shed some light on an interesting relationship between Bitcoin and Gold. It's not a relationship that you can use in your day-to-day trading activities, but it can clearly be used to spot long-term areas of support and resistance.
As seen on the chart, the yellow area (which was established at the 2017 top) has offered support during the 2021 bull-run and resistance during the 2023 move up. In both cases, the prices have rejected from the yellow area, albeit temporarily.
Seeing that GOLD is currently falling hard and BTC is seeing a minor uptrend, the value of BTC/GOLD is currently going up. My anticipation is that we will reject from the yellow area yet again and go for a retest of the November 2022 lows.
History rarely repeats, but it's clear that the BTC/GOLD value likes to retest important areas. See the yellow area and the dotted blue lines. Hence my expectation that BTC/GOLD will retest the November 2022 lows.
Do you think BTC/GOLD has value for traders? Happy to hear your thoughts in the comments.
🔥 Bitcoin Bulls Watch Out! Double Resistance ReversalBTC has been trading relatively bullish over the last few days. However, it seems that BTC is encountering heavy resistance at the intersection of the blue and purple resistance lines.
I've been bearish in my last few analyses, and I will stay like that in the short-term, unless we manage to close the day above the blue resistance.
For now, bears are still winning, but for how long?
Share your short-term views on the market in the comments 🙏
🔥 Bitcoin & The 50-Day SMA: 77% Win-Rate Indicator!I rarely look at moving averages because they are often lagging indicators and tell only a part of the story. However, I noticed that de 50-day SMA has proven to be a very worthwhile indicator to watch.
Since late April, the 50-day SMA has offered a lot of support and resistance for Bitcoin's price, see the yellow areas.
In 10 of of the last 13 touches, the price reversed from the 50-day SMA. This means that, since April '23, there's a 77% probability that the price will reverse from that specific SMA.
I assume that the indicator will lose this trading edge over time, but for now I'm definitely keeping it on my chart. If BTC's price were to reverse back up from here, I will likely consider a scalp-entry from the 50-day SMA's resistance.
BTCUSDTThis is a 4H frame analysis for BTCUSDT Currently, the price is below our first resistance line and has attempted several times to break this static region and establish itself above it, which has been unsuccessful. On the 1-day timeframe, we cannot see any upward momentum and the candles are not currently indicating any upward movement, however, we can remain hopeful that the price can move up again. Keep in mind that if the price hits its support too hard and is unable to move up, its support may be lost, so trade cautiously. Also, keep in mind that if the price fully penetrates the support line and establishes itself, it can move to even lower numbers, such as $19,560.
🔥 The Perfect Bearish Bitcoin Trade - Learn How!In this analysis I want to talk about Bitcoin's bearish triangle pattern that has been unfolding itself over the last few weeks.
I'm not sure whether BTC still has a bullish move in it, but when it does, we are ready. As always with trading, it's a matter of > . If Bitcoin decides to move up, we will enter a short from the top resistance which has historically been quite strong.
Stop above the resistance line, target at 23.500 for a nice R/R trade. A more bearish (but riskier) bet would be to place the target at 20k.
🔥 Bitcoin Retesting Channel: FOMC Fake Out WARNING 🚨I've been fairly bearish since BTC failed to break through the top resistance of the channel a couple of weeks ago. However, BTC's price action this week seems promising at the very least, so we have to consider different outcomes at the very least.
My anticipation for the coming week is that we're going to retest the top purple resistance. We will get some decent volatility during tomorrow's FOMC, so a sudden bullish move is not ruled out.
With inflation rising again, there's little reason for markets to pump. So I will be looking for a sudden bullish move upwards during the FOMC, ideally getting above the resistance, and then reversing quickly, leading to a fake out. A perfect bearish trade would be to step in during the fake out and ride the bearish move all the way down towards 20k.
My bearish stance will chance as soon as we can get a weekly close above 30.5k. If the bulls manage to pull it off, I'll be looking at 32k and then potentially 35k. We are not there yet, though.
Interesting times ahead. Share your thoughts in the comments🙏
BTCUSDTThis is a 1D frame analysis for BTCUSDT As we can see, the price has been progressing as per our previous analysis and has activated our entry zone and we are still in profit. However, currently the price is in our neutral zone and is fluctuating within the channel. If it can maintain itself within this zone over the next few days and some positive candles are formed, it can once again start to move upwards. Alternatively, if it fails to stay above the support line and falls below the complete support line, it can move towards our second support line. And if it can completely settle above the first resistance line, it can start to move towards our second resistance line.
🔥 Perfect Bitcoin Short Initiated: Bearish Triangle!Recently I made an analysis on BTC's bearish triangle and the short-entry I was hoping for. The original resistance that I drew (yellow) has not been hit yet, but instead the purple line has proven to be a strong resistance. Support/resistance lines, especially diagonal ones, can be fluid, so I drew the triangle again.
I'm waiting for the price to reach below 26k to make a short entry, target at 20k. This gives us a very decent short-term entry with a huge R/R of 11.5. A more risk averse trader might want to wait for the definitive bearish break out and enter below 24.9k
📉📈 Low Volatility Deja Vu? A Look Back at 2022 and What It Could Mean for Crypto Now 🤔
Hey there, crypto aficionados! Today, let's take a trip down memory lane and explore some intriguing parallels between the current market conditions and what we experienced in late 2022 and early 2023. It's a case of déjà vu with a twist.
📉 The Calm Before the Storm: At the end of 2022 and the beginning of 2023, the crypto market found itself in a period of exceptionally low volatility. Prices seemed stuck, and many anticipated a further drop. The sentiment was cautious, to say the least.
📈 The Unexpected Twist: What happened next surprised many. Instead of the anticipated plunge, the crypto market took an unexpected turn and started to climb. The low volatility period was followed by a burst of bullish momentum that caught even seasoned traders off guard.
🔄 A Familiar Scenario: Fast forward to the present, and we find ourselves in a situation that bears a striking resemblance. Volatility has once again dropped to relatively low levels, and some are beginning to wonder if history might repeat itself.
🚀 Potential Implications: Could the current low volatility be a prelude to another surprise rally? While past events don't guarantee future outcomes, they do remind us of the unpredictable nature of the crypto market.
🧐 Stay Informed and Adaptive: In the world of crypto, staying informed and adaptable is key. Keep an eye on market developments, stay attuned to news and trends, and be prepared for the unexpected. Remember that markets can change rapidly.
💡 The Takeaway: History might rhyme, but it doesn't always repeat. While we can draw insights from past experiences, the crypto landscape is ever-evolving. Be vigilant, have a well-thought-out strategy, and embrace the excitement of navigating these dynamic markets.
🔥 The Calm Before the Storm: Bitcoin's Volatility AnalyzedIn our latest analysis, we explore Bitcoin's unfolding volatility patterns. Notably, the bottom indicator highlights a distinct drop in Bitcoin's 7-day volatility, as depicted by the green metric.
Historical data consistently suggests that such low volatility precedes significant market movement. While periods of low volatility can span weeks, they invariably culminate in a pronounced shift.
Previously, I discussed Bitcoin's volatility and predicted a potential downturn risk. My perspective remains unchanged. Given that September traditionally presents challenges for crypto performance, and considering the precedent set by pre-halving years exhibiting roughly 50% bullishness (a trend we observed at the year's start), there's a strong inclination toward upcoming bearish trends.
Although positive ETF news might temporarily boost the market, a surge in selling is anticipated in the near future.
If you wish to use this indicator yourself, check out this link below:
Which direction do you think that the market will go? Share in the comments 🙏
Iotx Getting Ready For Massive Breakout Seems Like Has Already Bottomed Out and Getting Ready For Massive Recovery In Coming Weeks
Formed Text Book Falling Wedge In 3 Days Tf And Expecting Breakout Incase Of Successful Breakout Expecting 250% bullish Wave In Midterm Keep Eyes On Iotex For Breakout
