Btc_usd
BTC/USD (Bitcoin) - Daily - Bearish Pullback to Test The UptrendBitcoin (BTC/USD) has formed a head & shoulders resistance price pattern under $31,000 in May 2023.
Support Price Target(s) below are: $25000, $24000, $22000, $20000.
Bitcoin needs to establish and hold a price support level above $20,000 to maintain an Uptrend in 2023.
note: the longer-term price trend for Bitcoin could take months to establish and develop.
Bitcoin Head & Shoulders PossibleOn the Daily chart Bitcoin has the potential to complete a Head and Shoulders pattern, like so many altcoins did- so watching for this confirmation of drops below key support is critical.
When looking at the Monthly chart, the RSI/SRSI indicators show a likely continuation down, indicating more time is likely needed to shake out this correction.
Currently resting on the 13 Moving Average on the Monthly, the 34 and 100 moving averages are shown for reference. A drop below the 13 MA would set us up for confirmation, and a test of the 34 MA. $20K and then possibly a test of $10K are very real longer term correction targets to consider.
There are 2 shorting positions on BTC(FYI MY POSITIONS ARE AT $23.9K)
If I miss it I miss it, oh well
Positions
Potential positions; $18.2k & $23.9k
18.2k broke a few weekly candles, this isn't good at all but with a good position everything will be fine right?
well we will see
If we get into a position at 23.9k and the weekly stays under 18.2k I can promise we can make profit but if it closes above 18.2k then that's when I get confused with a miner bullish thesis. Once bulls close weekly/weekly's above $24k then ill have a major bullish thesis but I highly doubt till happen.
We need weekly's to close under $18.2k and when the last weekly closes under 16.1k then that's when we see a +20% fall
[i ]Take Profit
T1: $9,699
T2: $6,999
T3: (aka sell your soul): $1,000 - $2,500
glhf, be safe leverage is no joke
BTCUSDT: Bitcoin Likely to Continue Bullish After CorrectionThe outcome of the Federal Reserve's upcoming meeting will impact the direction of the BTCUSD pair. Currently, Bitcoin is experiencing a sell-off due to profit-taking, but the market anticipates a further bullish trend due to a slowdown in interest rate hikes. However, a brief bearish correction is expected. It is important to watch the 20000 price level as it may provide support in the future.
I would appreciate your support of this idea to help reach others. You can also share your opinion with me. Many thanks
BTC - WE GOING LONG BOIIIIIIIIS WHY NOTTHIS IS NOT A FINANCIAL ADVICE....this video is provided for educational, informational, and entertainment purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose.
Thinking to hold still for BTC for now. Hitting that 25k grab will be legit fun!
BTC TO 24K Today ? Here's a possibility in my eyes that could happen today!
BTC is in an upward wedge coming up to a very important zone. THE 24k Zone. BTC must hold the current support LVL of 22990-23100 IF it wants to continue to the upside.
If we hold this area we could see BTC go up and test the 23985- 24304 LVL
ON THE FLIP SIDE
If we lose this current LVL of support we will most likely go back down and test the 21100-21500 LVLS
BULLRUN WITH BTC?Hello!
Bullshort is here!
After a strong rally, sellers put strong pressure on the 22-23k level and held the price. Buyers failed to pass asks limits and the price went into lateral consolidation. The zones are all shown, I think there is no need to explain their meaning.
It is important to note that the open interest of short positions is very low, which may be a reason for a correction to 21-19.5k.
Market capitalization is kept at the level of +-1 trillion. and the market is waiting for something. I am waiting for a correction from the level of 24500-25000, this would be a healthy price adjustment. I do not rule out a fall from the current zones, because. pressure is observed on the 1h graph.
It is also important to note that during the growth, a lot of btc was poured into altcoins…
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