BABY BEAR ALERT ?!! BTC ANALYSIS Bitcoin While Completing The Dancing Lady Pattern .
Else IF 38000$ Breaks , There Will Be THE BULLS SUPPORT !!!
Btcbears
#Ethereum Adds 10% versus Bitcoin as Traders Target 0.072 BTCPast Performance of ETHBTC
After underperforming Bitcoin throughout Q1 2023, dropping roughly 20% in three months, the tide is beginning to change. ETH buyers are in control when writing, checking the performance in the daily chart. As it is, ETH is up 10% from March lows. At this pace, and with ETH prices breaking out versus Bitcoin, traders can look to add to their longs, riding the emerging trend.
#ETHBTC Technical Analysis
The path of least resistance is northwards as Ethereum recovers after sharp losses in Q1 2023. Critical support lies at March lows at 0.062BTC while a reaction line traders should watch is 0.065 BTC. With prices above the middle BB, every dip is a loading opportunity, with targets set at mid-March 2023 high at around 0.072 BTC. Per the formation in the daily chart, traders can look to buy the dips as momentum picks up. Already, bull bars appear to band along the upper BB, a possible opportunity for bulls.
What to Expect from #ETHBTC?
The ETH rally is driven by fundamentals as network users look forward to Shanghai. At this pace, ETH may peel back losses posted versus BTC, retest March highs, and even push back to Q1 2023 highs and primary resistance at 0.077 BTC.
Resistance level to watch out for: 0.072 BTC
Support level to watch out for: 0.065 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
#Ethereum Bulls Roaring, ETH May Rally above 0.088 BTCPast Performance of ETHBTC
ETH prices are relatively firm versus BTC when writing, per the formation in the daily chart. Overall, buyers are in control, and the immediate trend is northwards. From the ETHBTC candlestick arrangement, the immediate support is 0.075 BTC coinciding with around April 2022 highs, a critical reaction level.
#ETHBTC Technical Analysis
After attempts of lower lows earlier this week, ETH bulls flew back on September 13, rejecting attempts to push prices even lower. From the daily chart, traders can find loading opportunities on every attempt lower as long as prices are held above 0.075BTC or this week's lows. The immediate target will be September highs at 0.085 BTC for aggressive ETH bulls. Meanwhile, traders waiting for a clear trend definition can wait for a clean break above 0.085 BTC, at the back of rising trading volumes, to initiate longs and ride the primary trend and the bull breakout of early August 2022. In this case, the first bull target will be 0.088 BTC or 2021 highs.
What to Expect from #ETHBTC?
Pumped by fundamental factors, Ethereum buyers are in control and would likely rally above 0.085 BTC and register new all-time highs. On the reverse side, deeper and unexpected retracements below 0.075 BTC will shift the momentum to bears.
Resistance level to watch out for: 0.085 BTC
Support level to watch out for: 0.075 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
#Bitcoin Sell-off Continues, BTC Heading to $32.5k?Past Performance of Bitcoin
Bitcoin is inches away from retesting Q1 2022 lows. The coin is down four percent in the last trading day. Buyers are struggling to keep up against a deluge of sellers. Based on the formation in the daily chart, traders can unload on every attempt to pullback towards recent highs.
#Bitcoin Technical Analysis
BTC sellers are firmly in control, dashing bulls' hopes. From the daily chart, the path of least resistance is southwards. Notably, bear bars are banding along the lower BB, pointing to strong liquidation pressure. At the same time, the divergence from the middle BB suggests high volatility. At spot rates, BTC is within a bear breakout set in motion by the April 11 bear bar and confirmed by subsequent bars, including the conspicuous, high volume candlestick of May 5. Reading from the daily chart, odds of BTC sliding to $32.5k and Q1 2022 lows remain elevated.
What to Expect from #BTC?
Bitcoin is under immense selling pressure following the dump from $37.3k. BTC may easily slide to retest key reaction points of the Q1 2022 trade range if bears continue to double down.
Resistance level to watch out for: $37.3k
Support level to watch out for: $32.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
BTC shorts are in play - BEARS - 31k?Reasons:
1. Macro economics
2. Trend line
3. Resistance level strong
4. Downtrend upcoming on weekly for the double top
5. Market awareness
OCT COULD START THE BEARS LEG TO 20K? BIG SHOCKING DUMP COMING!!Will Oct be the start of yet another leg down in the entire crypto market? Can BTC break below 20K
GET READY FOR A RETEST THAT WILL SHOCK THE CRYPTO COMMUNITY SAYS BITCOIN GORILLA🦍,
Today 6th oct BTC is encountering a big phase that could affect the upward move recovery/
My analysis has been pointing 20k since April 1st, and I am still 100% standing on that because my odds has not shown me any signs of change that BTC is not trapped and could potentially fall to retest the 20k to 16k support area.
Get ready so it won'y take you unaware. use stoploss to protect your current profit. this recovery phase is showing signs of ending and we can potentially start seeing another leg down rom here.
if BTC encounter 40k one more time, just know that it will most likely destroy that support this time.
This is just my opinion, patient is your biggest asset, the 20k we cry is here than you think!.
Thank you for supporting me with your likes.
Are Bitcoins days over? Good afternoon, from looking at this chart of BTCUSD it can be easily depicted that bitcoin has been losing bullish momentum. It just tested 57150 resistance and got rejected. If unable to break, a downturn to 40k is reasonable. The area where the two trend lines intersect will be a dangerous area to fall into. There is also a downward curve forming.. let the chart tell us what the next move will be...
Buy Bitcoin; Just Not Right Now! Let The Bears Eat.Based on Elliott Wave analysis and what's determined to be the most likely outcome for Wave 4, I suspect that we're currently in the 1st of 3 phases for the total completion of the Wave 4 correction.
Typically, a primary Wave 4 will retrace down towards the zone of the previous sub-wave 4 (aka Wave 4 of primary Wave 3). In Bitcoin's case, Wave 4 of Primary 3 is near or slightly under $40K.
With Primary Wave 2 being a sharp correction, Wave 4 will be what's called a 'sideways' type of move. As in, the correction takes plenty of time and does not make sudden, descending moves; not at all once anyway.
A flat correction consists of a 3-3-5 wave sequence. We're likely in the first 3 wave sequence with (A) being a running flat. Should B wave not break the highest point of Wave A, we can fully expect more correction down to the C Wave target range, near or directly below $40K.
Stay woke :)
#Bitcoin Short Scenario #BTCTake a look at this chart and please understand that this is not trading advice. I am simply taking notice of the larger trend that BTC has been trading in and continues to trade in. Any hope and dreams of this being more than just a wick at this point are just that, hopes and dreams...the fact of the matter is that until we can prove that this is a reversal impulse move that will get us out of the bear trend, we remain in a bearish channel just above a support that if broken could be catastrophic for the BTC price. Full disclosure, I have a short position on margin and a long position with no margin. I use shorts to hedge and I believe this is a great hedge position to have. The fact of the matter is that this view on Bitcoin's price action over the past several months is valid and should not be discounted. Of course we want Bitcoin to reach $30k tomorrow! But traders need to be cautious to not let their emotions steer them wrong.
