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Technical analysis update: BTCUSD (26th November 2021)Today BTCUSD reached 55 000 USD in tandem with our expectations expressed in the previous 2 posts. Currently, it trades around 54 600 USD per coin. We continue to be bearish on Bitcoin as technical analysis continues to support this thesis. We think current weakness in the global markets will be persistent in the short-term. Additionally, we think that this weakness will be contagious to cryptocurrency markets and it will create headwinds for further rise in cryptocurrencies (in the short-term horizon). We think BTCUSD will continue lower and we expect it to test short-term support at 52 956 USD in the following days. Our recent popular post from 16th November 2021: Here we started to speculate about possible double top formation. We also expressed that volume was declining while price continued to climb higher. We noted that this pointed to evaporation of buyers at higher levels of prices. In our opinion, this foreshadowed subsequent drop in price (combined with other warning signs). Technical analysis - daily time frame RSI, MACD and Stochastic continue to evolve their bearish structure. DM+ and DM- show also bearish conditions. ADX exhibits growth which suggests that the bearish trend is strengthening. In general, a bearish time frame is extremely bearish. Technical analysis - weekly time frame Divergence in RSI is clearly observable. This is a very bearish development. MACD is in the bullish area, however, it is flattening (and reversing to the downside). Similarly, Stochastic also started to point into bearish direction. ADX is very low which suggests the bullish trend of higher degree has lost its steam already. Overall, the weekly time frame is bearish. Divergence in RSI on weekly time frame: Divergence in MACD on weekly time frame: Technical note Synchronization in the bearish conditions between daily and weekly time frames suggests mounting trouble ahead for BTCUSD. We think BTCUSD is headed way lower and it will drag the rest of cryptocurrencies with it. We think investors should be very cautious in the following weeks. Fundamental note Hawkish narrative by the FED, additionally, supports bearish views for the cryptocurrency market. We think that decrease in quantitative easing combined with increase in interest rates will be detrimental to cryptocurrencies as purchasing power of the dollar will be rising. Further, we think prevailing irrationallity in the cryptocurrency markets (especially among lay and retail traders) combined with calls for extremely high prices such as BTC at 200k USD, 500k USD, etc., only shows how inflated this market is (at the moment). Support and resistance Major resistance level sits at all time high of 69 000 USD. Below that is Resistance 2 which sits at 64 895 USD (previous top). Resistance 1 appears even lower at 59 603 USD. Short-term support is at 52 956 USD. Then below that is Support 1 at 48 834 USD and Support 2 at 39 573 USD. Major support level lies at 28 600 USD (2021 low). DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
8
ETH to continue outperforming BTCBitcoin has been slumping pretty hard against ethereum which is a big positive for the altcoin market and the fall might just be starting, everything on BTC/ETH is looking very bearish. We have broken down below 2 pretty heavy downtrend support lines and looking at our current price action it is looking like we will see a daily close below both of these levels which would be a bearish sign for bitcoin but a great sign for ETH and the alts. we have support slightly below our current spot, the S1 & S2 support levels are holding up as of right now but a little more of push to the downside will definitely break these levels. Looking at the bollinger bands we are on our second daily candle where we are riding that bottom band and this plays into the reason i think this drop could just be starting, it is not uncommon when riding the bottom band for the dip to go on for multiple days. For our daily close its looking like we will close once again on that bottom band which is likely to continue dragging BTC down. The MACD recently had a flat period where our histogram bars weren't moving a whole lot, but the past couple days have been looking good, 2 increased red bars which is what we want to see and want too continue. The MA's are just starting to see some big separation increasing the bearish momentum and making it more and more difficult to get a bullish cross in the near term. Not financial advice just my opinion!
BShort
by JacobR905
2
Technical analysis update: BTCUSD (16th November 2021)BTCUSD continues to move sideways within rectangle formation as bullish trend is losing momentum and becoming neutral. Bitcoin currently trades around 60 900 USD pricetag; and we are currently bearish on BTC as technical analysis on daily time frame supports this thesis. We expect eventual breakout below the neutral zone. Additionally, we expect such occurence to be accompanied by further selling pressure and possible beginning of bearish trend. If bearish breakout occurs then we expect price to test 55 000 USD. Volume decreases as BTC continues to move sideways - which suggests that new buyers are increrasingly harder to find. Technical analysis - daily time frame MACD, Stochastic and RSI are all bearish. ADX contains low value which suggests neutral trend. However, we expect bearish breakout from neutral zone and resumption of selling pressure. Technical analysis - weekly time frame RSI is just slightly below overbought zone and it manifests sideways movement. Inability to pierce through 70 points might suggests that bullish trend peaked already. However, MACD and Stochastic still remain bullish. ADX suggests very weak trend which coincides with daily time frame. We would like to note it is possible that double top is forming in BTCUSD. Because of that we think investors should be very cautious. Support and resistance Major resistance sits at 69 000 USD. Resistance 1 lies at 64 895 USD while Support 1 lies at 59 603 USD. Support 2 sits at 52 956 USD and Support 3 appears at 42 900 USD. Then Support 4 sits at 39 573 USD. Major support level can be found at 28 600 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
96
BTCUSDT NEXT MOVE (4h chart)Bitcoin (market) is in correction of last bullish weeks ( zoom in-out for more details) , next target of this correction is around 61400 at there we will see a slow market and when we reach there i will update this analysis. im sorry if i dont explain too much about my charts im personally think that market is not complicated and simplicity is everything, i see so much charts that are so messy or so much if this or that happend... im only draw one scenario. if its go wrong i will accept it and i will try to be better next time . Take care of your money finnacial markets are ruthless . See ya GodBless
Short
by GoodLadd
2
ReTest Finished. Target 72000-80.000Hedge Fund Manager Long Position ok. We renewed our positions. I wish you good luck. Believe in lofty goals, but be careful. It is not investment advice. Patience and attention are the most important processes in this business. Selling for free is against our nature. Our post Retest target has been updated to 100,800. 0.5x 1x 2x long position ok. Stoploss -55700 Long Target = 69000$- 72000$ Bitcoin bitcoin will continue to trend sideways will continue to record records with altcoins. Our Main Goal should be to collect bitcoin and ethereum. this will start the rise of retest altcoins. I wish everyone good luck. Don't forget to buy stop-loss and tp. As a result of this rise will come a great fall. Our retest levels are 42100$-48000$-52000$-56000$. we have nothing to do with awns. If bad news doesn't come, we'll sail straight to $72000. Of course, we will proceed according to the 4-hour and 12-hour charts. Our joint decision with all fund managers is long. The next drop will not be a retest. We will see a very steep decline. then we will move up towards $80,000. We're starting off with a $20,000 drop. Let's follow the news.
Long
by TraderEtc
BTCUSDT - LongTerm Analysiss $84k Hi Traders & Investors In financial markets price movements always repeat them selfs its kinda foot prints of big financial companies and simply; huge money flow if you take a closer look at major movements of btc price you probably notice those big major legs( black arrows ) for now i think after the correction that we have ahead of us another big price movement start and i think around 54k is the start of the next major move and around 84k will be the end of that movement . also the fibo extension of the last major move (1.272) shows us $91k is target of the next leg . what you guys think? are you agree with accuracy of major movements ? Im personally believe in them and i think they are so accurate. GodBless
Long
by GoodLadd
2
BTC/USDT 4HOUR UPDATE Welcome to this quick BTC /USDT analysis. I have tried my best to bring the best possible outcome in this chart.. BTC /USDT analysis BTC 1day closing and $61300 positive signal and BTC 4 hour update is supporting zone is green line and very inportant supporti is $59000 and resistance $63000 break after new ATH ... As we told about btc it went the same and still i think btc will make its new all time btc is bullish Sorry for my English it is not my native languages. Do hit the like button if you like it and share your charts in the comments section. Thank you...
by CryptoSanders9563
ETH 4000 solid base for take off to $7000, past $4200Some solid support being tested at 4000, ETH is a little lazy at 4200 but will some sat will help it get going a bit. Bullish trendlines. ETH is getting burned by any joe wanting to be a validator (low energy) for ETH2 needs to stalk 32 ETHs. As Ethereum V2 goes from testing to mainet, ETH will become scarce in supply as more shops will want have built in ETH validation and that requires 32 ETH to get setup. Lay back, enjoy the sub $4200s Once this runs, better to be on board that on the sidelines. Don't stand to close to the launch pad as this Internet Money and distributed finance (DeFi) takes off.
BITSTAMP:ETHUSDLong
by UnknownUnicorn2413721
Canada's Largest Crypto Exchange bottomed at 65 cents USD????Just the charts.... Strong bottom at 65 cents on this penny stock stinker. BIGG should get uplisted to the big boards in Canada and in the US. I get a kick of finding small but very fast growing companies that sneak into the US via the OTC to then explode on the market via an uplilsting. Canada, it's also common to list on penny stock exchange CSE and uplist to the TSX. The charts are typically penny stock junk. The sooner they can move into the safer zones. It should be a leveraged Bitcoin play but they need to start bragging more about user growth. And stop silly thinks have having minimum XRP wallets! DUMB Marketing, they give you $10 free to open an account, convert to XRP and it's a dead wallet! XRP is nasty. So glad Layer 2 is coming to Bitcoin and Ether! Bye bye bad coinmasters!
OTC:BBKCFLong
by UnknownUnicorn2413721