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Technical analysis update: BTCUSD (25th August 2021)Many people asked us to analyze cryptocurrencies. Therefore we prepared our first bitcoin analysis for you. Recently bitcoin took off its recent lows around 29 000 USD. In the process it closed a gap between 46 620 USD and 48 370 USD. After that bitcoin peakead at 50 858 USD and then reversed lower. We think price level along the gap has an important role. We think if this gap is retraced by price back to the downside then more selling is probable for BTC. In terms of technicals RSI continues to move sideways just below 70 points. It did not cross 70 points to the upside. This is common for corrections in the strong downtrend. MACD is flattening out and it seems as if it wanted to reverse down. In addition to that price is currently far away from its 20-day Simple Moving Average. We think there is high likelihood that price of bitcoin peaked recently (or it will in the short future - around 54 000 USD) and more selling is on a way. If price breaks below its short term support then we expect bitcoin to retest its recent lows around 29 000 USD. MACD on daily timeframe: 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.
CME:BTC1!Short
by Tradersweekly
8
BTCUSDT Just wait a 1 week👍❤✔🐱‍👓Just wait a week to see the bitcoin rise.👍👍👍👍👍👍 If Bitcoin is bad. Why do governments produce? Why do they do their best to give their national currency code to the market? Why do people not want to accept that they can get out of the domination of countries?✔✔✔✔✔✔ If you are skeptical of my analysis, you can view and learn from my past analysis of Bitcoin.👌👌👌👌👌👌 Governments and people who do not want people to be capitalists always play movies before bitcoin rises so that people can be sellers and buy whatever bitcoin is in the market.✌✌✌✌✌✌
Long
by ManochehrAzar
ETH/BTC Spread: Greenshoot is still intactI haven't posted since I mentioned that we may have reached a bottom but it's because I believe my bullish call still holds, at least for now. You will find above the intraday count that I'm following. The ETH/BTC spread made a set of impulsive waves followed by a set of corrective waves and now we are starting to see some price action this evening. Let's see how it pans out but for now I'm still holding my ETH tokens that I purchased at 1945.
BITSTAMP:ETHUSD
by quantmaven
1
Why is ETHEREUM better than BITCOIN? Comment Below...First of all, I hope you are all doing extremely well! Bearish times mean bullish opportunities to come. Trade on the other end of your emotions, and you will trade well. I am not going to speak about Ethereum today. Instead, I want your opinion on the following: (1) Do you think Ethereum is a superior cryptocurrency? Yes/No & Why. (2) Do you think Ethereum will outperform Bitcoin one day? Yes/No & Why. (3) What price do you think Ethereum will find as it's new support level? Here are my short term technicals. TECHNICALS Rising Wedge Formation A rising wedge in such bearish circumstance is a strong bearish continuation pattern. Buying pressure is reducing as selling pressure is maintained constant. Once bullish pressure eases, we will see another rally to the downside with two projected targets. Let's see how far we go. M Pattern We see a very strong M pattern form on the 4H. This is a bearish pattern with a W being a bullish pattern . Shoutout to @transparent-fx for teaching me this one. Very repetitive pattern in the crypto market. The baseline was retested followed by a strong move to the downside. Breakout of Parabolic Trend We have recently seen a large breakout from our parabolic upwards trend. We are no longer parabolic and unfortunately in a bear cycle. Many believe we may see a continued bull run next year instead of waiting 2 years due to increased interest in the market requiring less consolidation. I personally am not too sure if this is correct, but we should treat it as a bear cycle and not a retracement. Love, peace, Seb .
BINANCE:ETHUSDShort
by SXTrading
4