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Btcdowntrend

Bitcoin Downtrend: Potential Drop to $44K Support LevelBitcoin is currently in a downtrend, as clearly indicated by the Ichimoku Cloud tool. The price is trading below the Kumo (Cloud), which signals a confirmed bearish trend. Generally, when the price is below the Kumo, it suggests that the downtrend is likely to continue. From the chart, we can see that Bitcoin has dropped from the $70,000 range and is now hovering around $56,000. The red cloud ahead suggests strong resistance above the current price level, likely preventing a quick recovery to higher levels. Given the current conditions and previous analyses, a strong support zone is expected around the $44,000 level. This level aligns with both Fibonacci retracements and previous resistance/support areas. If the price reaches this level, we could anticipate a strong reaction from buyers. However, if this support level is broken, a further decline towards lower levels, such as $40,000, is possible.
BITSTAMP:BTCUSDShort
by G4ll4nt
HelenP. I Btc may rebound from resistance 27670 and decreasedHi folks today I'm prepared for you BITCOIN analytics. After the formation of the resistance zone 29665-29960, the price began to decline and reached support 27670, from which it increased. Bitcoin made a deep upward correction, retested the resistance zone, rebound and continued to fall. The price continued the downtrend and broke through support at the level of 27670. Having created a downward channel, Bitcoin continued to trade inside for a long time. The price broke through support for 26720 and dropped to channel support where was formed zone 26325-26080. Over time, the price dropped and tried to break through the support of the channel, but it was not fixed below and began to grow. Bitcoin recently retested support at the level 26720, continued to rise, and leave the downward channel. The price is currently trading close to resistance 27670 and may rise and test it again. I hope that Bitcoin may continue the downtrend and, after a possible retest of resistance, will continue to decline. Therefore, goals will be set at levels 27135 and 26720. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
21
Let's Look At Bitcoin With No Bias.So many crypto guru's will stone you to death if you speak negatively on BTC! I'm never the one to marry my bias or not believe what the chart is telling me. Here, I used the weekly chart on BTC to break it down from a longterm perspective. Since 2021, I've been trying to explain to people through charting that BTC WAS NOT going to a 100k in 2021!! Had so many people try to fundamentally explain to me how BTC was headed for a 100k. From a technical perspective, it just didnt make sense to me. Even coming to the close of the year, late October if I recall. A lot of guru's were yelling 100k! BTC broke out during & after the U.S election in 2020. It indeed went on a tear making a new ATH of 64k. We all remember the Pullback/Price Correction it went through from April-July 2021. It consolidated around 28k, where heavy buyers sat. Price then bounced and pushed to a new all-time high of 69k by Nov 2021. It was during this time when people where screaming to the top of the twitter fingers, 100k!! BTC printed a "pseudo" double top and rejected and reversed down the week of Nov 15th. It hasn't printed a higher high since being that it entered a downtrend shortly after. It currently is still trading around its support level of 30k. BTC printed 2 bear legs down so far on its weekly chart. I could see some stagnation here for a period of time. BTC, may or may not create a 3rd bear leg down, if so It may reverse slightly before doing so. As of now, I have an overall downside level of 20k. Bullish sentiment is nowhere to be found AS OF NOW from a mid to longterm perspective. To be considered TRULY bullish, BTC would have to at least clear 50k, until then hedge your investment.
Short
by DayTraderEarl
As a death cross approachesAs the 200/50/20 SMA approach a cross the most likely scenario is to see a larger decline over the course of the next month. The cross should happen as BTC approaches/crosses the $45,500 mark. This will show oversold on the 4 hour and begin the downward trend. It can be expected there will be significant resistance at $39,900, while being broken and heading to the next mark at $37,400. BTC will further breakdown to $29,400. At this level BTC will be significantly oversold and growth can resume. This resetting will provide overall health to the trends as it puts the power back in the hands of bullish investors. The benefit of the breakdown to the $29,400 level will be providing ample support for new ATH. The breakdown should take about 1 month to complete from the time of the death cross, if the model is correct.
by HoldenTC
2
Bitcoin Update!Looking at BTC we have been stuck in this downtrend for a few weeks now and a couple bottoms could be in sight, the Fed tapering news could be playing into this for sure and aswell as the evergrande defult, seems like everytime we start making some progress some form of news pops up lol. personally i think we are seeing big time accumulation phase going on in the background, remember the market gets very greedy quickly and usually results in a correction/fear. Its very hard to point out a direction just because how volatile the market currently is, we have a couple different scenarios to go over. First of all know one knows exactly, but in my eyes this would be a perfect bear trap, reason being is because we just saw a 9 day phase where we we're bouncing inbetween 51.2K - 46.9K also shown by the significant level (blue turned orange rectangle ) Bear traps are meant to fakeout the bears with a "significant" breakout just to rebound to the upside stopping many traders out. The second scenario would be a continued fall to the 0.3FIB as our first level of major support where a bounce is possible, next we have 42.7K level which isn't as strong and then our next significant support in the 40K range. Lets look at the RSI, we are in a little uptrend but more of a bounce and travelling up our support line there are clear areas of resistance above us and its going to take a good push to get back over that key level that is, the midline, we want to see a strong push up and above here and hold to get back in a confirmed uptrend. Lastly the Stoch RSI, in a pair with the regular RSI the Stoch is indicating a possible bearish cross here which could pull things down along with it, wouldn't be super bad we still have a ways to go before the 0.3 FIB level where it does give us that chance for a bounce, not financial advice just my opinion!
COINBASE:BTCUSD
by JacobR905