Bitcoin - Deceitful rally Despite yesterday's move up in Bitcoin, we remain very skeptical about the prospect of rally continuation. That is mainly due to the FED moving toward a more hawkish stance in regard to its monetary policy. Indeed, now, it projects another 75bps rate hike for September 2022. As a result, we expect this to negatively affect the U.S. economy as well as the cryptocurrency market. Due to the persistence of these bearish fundamental factors, we have no reason to change our medium-term and long-term assessment of BTCUSD.
Illustration 1.01
Illustration 1.01 shows the trade setup we introduced recently; it consists of two alternative scenarios. Additionally, there are several technical developments displayed on the chart. The bullish trigger occurred when the price moved above 21 868 USD. Despite that, we are skeptical about this move. We are looking for the bearish trigger, which will take place once 21 868 USD is retraced to the downside. Low volume after the most recent breakout hints at a declining number of buyers between 22 000 USD and 24 000 USD.
Technical analysis - daily time frame
MACD, Stochastic, and RSI all show signs of stalling. DM+ and DM- are bullish; however, ADX contains a relatively low value. Overall, the daily time frame is neutral.
Technical analysis - weekly time frame
RSI is bullish. MACD is neutral. Stochastic is bullish but stays in the lower zone. DM+ and DM- remain bearish. Overall, the weekly time frame sends mixed signals.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Btceth
Bitcoin's next moveHere we go again! BTC broke the white downward channel/wedge which indicates that the downside momentum is gaining more strenght. Price found support at 21000-20750 zone (zoom out), but I think we are just going to test the resistance confluence around 21300 (white and lime downtrendlines) and then we could see reversal and then another leg down to finally hit the yellow channel lower edge.
See the two ideas right down below to get the full story!
Check my other stuff in related ideas.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Bitcoin - Rip or dip The setup we introduced recently remains valid. We will have our eyes on the FOMC meeting today. We expect volatility to be elevated throughout the day. We will update the idea after the FED decision.
Our thoughts are detailed in the attached ideas.
Technical analysis - daily time frame
RSI paused its fall and became neutral. MACD is also neutral. Stochastic is bearish. DM+ and DM- are also bearish. Overall, the daily time frame is bearish.
Illustration 1.01
We showed the chart above before. Structurally, Bitcoin continues to develop like during prior corrections of the current downtrend.
Technical analysis - weekly time frame
RSI strives to reverse to the downside. MACD is neutral. Stochastic is bearish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - Does turbulence lie ahead? In the past few weeks, we reiterated our lack of belief in the trend reversal in Bitcoin. We said the price bounce would be temporary and that it was too premature to call the bottom. Additionally, we stuck to a short-term bullish call and medium/long-term bearish call. Furthermore, we also hinted at signs of weakness that led to the inability of BTCUSD to continue higher.
Among these developments, we also hinted at structural problems in the cryptocurrency market. These also remain today with the latest addition of Coinbase to troubled companies in the sector (due to alleged investigation). Threats from higher interest rates, economic tightening, and global recession also continue to persist.
With these new developments in the market, we turned bearish on Bitcoin in the short term. That is mainly due to Bitcoin retracing below 21 868 USD. We said that such development would be bearish in the setup we introduced in our latest idea. Accordingly, we stick to what we said. However, if the immediate resistance/support is broken to the upside, it will cause us to turn bullish again. Because of that, tight stop-losses should accompany trade entries.
*The FED meeting is scheduled for Wednesday. We will be very cautious as the FED is expected to raise interest rates and further worsen economic conditions.*
Illustration 1.01
Illustration 1.01 shows the daily chart of BTCUSD. It also shows the downward sloping channel. The upper bound connects two peaks and acts as the resistance; meanwhile, the lower bound is parallel to the upper bound and acts as the support.
Technical analysis - daily time frame
RSI and Stochastic turned bearish. DM+ and DM- performed bearish crossover. The MACD is neutral. The ADX contains a relatively low value which hints at a weak trend. Overall, the daily time frame is bearish.
Illustration 1.02
Recently, we hinted at the presence of low volume accompanying the breakout above 21 868 USD price tag. We noted that this was a sign of weakness, and if the volume stayed insufficient, then the market was due to reverse abruptly.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - Not worth the current priceOver the past few days, Bitcoin drifted lower toward the 19 000 USD price tag. Because of the persistence of bearish fundamental and technical factors we maintain our price target for BTCUSD at 17 500 USD and 15 000 USD.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Illustration 1.01
The picture above shows the weekly chart of BTCUSD. Two moving averages, 20-week SMA and 50-week SMA, continue to confirm the medium-term/long-term bearish trend.
Technical analysis - weekly time frame
The weekly time frame coincides with the daily time frame. RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - The massive selloff might lurk behind a cornerShortly after our last idea on Bitcoin, it started to manifest weakness. Accordingly, we remain bearish and maintain our price targets at 17 500 USD and 15 000 USD. That is mainly due to the persistence of bearish fundamental factors. However, technical indicators across weekly and monthly time frames also support our views. Therefore, we think the cryptocurrency market is preparing for another leg down which will most likely culminate into a selloff that will drive the price of Bitcoin below our price targets. Despite that, we would like to monitor the price action and adjust price targets as the trend progresses.
A several worrying developments
Over the past few weeks, market participants have experienced the downfall of a stablecoin Luna and many (predominantly small-cap) cryptocurrencies. Additionally, they saw the Celsius Network pause withdrawals and transfers to its more than 1.7 million users who hold more than 151 000 Bitcoins at this “cryptocurrency bank.” In our opinion, we will see more trouble in this sector, especially among institutions that offer “stacking” and similar (allegedly) “risk-free” investments which guarantee unsustainable returns over a short time. Another problem on the horizon is the prospect of higher interest rates and economic tightening in the USA and around the globe. That will drag the price of cryptocurrencies to new lows against fiat money. In addition, the next issue arises with the upcoming regulation regarding stablecoins and token issuance. Again, we think that will negatively impact the market. Indeed, we believe there lies the possibility of the U.S. regulator to legally mandate exchanges to back a significant portion of their tokens by fiat money. If so, that could potentially trigger a massive selloff as we deem cryptocurrency exchanges like Bitfinex unable to fulfill this (hypothetical future) requirement. Therefore, we voice a big word of caution to market participants.
Illustration 1.01
Medium and long-term moving averages support the bearish thesis for BTCUSD.
Technical analysis - daily time frame
RSI broke below 30 points which is extremely bearish for BTCUSD. Stochastic also turned bearish. DM+ and DM- remain bearish. MACD flattens. Overall, the daily time frame is bearish.
Illustration 1.02
In merely 212 days, Bitcoin declined over 70% from its all-time high value.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin Roadmap 2022 - What to expect for the bottom reversal This is an untouched line model of each Bull Run complied together and matched up at the peak before falling towards the Bear bottom. I did not fit it together to look nice, and I did not change the angles. It's genuine and undeniable. This is the form that I extracted the 3 line structure used on top of each bull run. The strange confluence that was found is the following: For the latest bull run - When you take the 3 line structure and duplicate it, then lay it over itself at the second bar down, it fits PERFECTLY TO the current price movement/percentages/time. This shows to me that we have an evolving dynamic as we grow into higher prices on a logarithmic chart. What may look strange to the eye is actually exactly the same structure from the past 2 bull runs. One odd detail to note that I am still not completely understanding of is the fact that there seams to be a what I call a "ghost peak" that would have existed around $109,000 that was never met (but expected by many) that fits in perfectly to this structure as well! Although the actual calculations are done from the November price top and fits perfectly to the rest of the structure mathematically. There is much more to be understood and discovered about this chart so please contact me if you'd like to add some ideas or collaborate. I expect us to hit the bottom blue line at around $12,780 at least as a candle closing target on this 10D chart, as well as the possibility of going down to touch the $10,000 mark. Please note there are many more aspects of FIB levels and average time/percentage calculations and moving averages that have been hidden in the background that show amazing confluence.
Note: If you scroll below the chart there are some distance lines regarding the halving cycles etc.. This chart is missing many aspects of it's original creation for ease of viewing..
Bitcoin - Not bullish yetAfter hitting a low near 17 500 USD and reversing back above 21 000 USD, Bitcoin has been trading mostly sideways. So far, it has failed to move above the 22 000 USD price tag, which hints at a loss of momentum within the bear market rally. Despite that, we remain neutral and abstain from setting a price target for BTCUSD. However, we are growing inclined toward the notion that Bitcoin has not formed a bottom yet. Therefore, we will monitor its price action closely and look for more clues as to the resumption of the selling pressure.
Fundamental factors
We foresee bearish fundamental factors like higher interest rates and less money printing as damaging for the U.S. economy and cryptocurrencies. As a result, we expect these issues to weigh on the price of Bitcoin and drag it lower.
Illustration 1.01
Illustration 1.01 shows simple support and resistance levels for BTCUSD.
Technical analysis - daily time frame
RSI and Stochastic are bullish. MACD points to the upside as it remains in the bearish zone. DM+ and DM- are bearish. Overall, the daily time frame is neutral/slightly bullish.
Illustration 1.02
The idea above shows the potential setup for BTCUSD.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame stays bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - The best time to start taking profits off the tableOver the weekend, on Saturday, Bitcoin dropped as low as 17 592.78 USD, missing our price target by 92.78 USD. Then, within 24 hours, Bitcoin erased its losses and dropped below 20 000 USD again. Currently, it trades slightly below the 20 000 USD price tag. At the moment, we are not entirely sure where BTCUSD is headed next; as a result, we would like to abandon 17 500 USD. We expect a relief in the stock market and cryptocurrencies; however, what we are seeing now in the market might be actually it. In our opinion, now is the best time for investors to take profits off the table if they went short Bitcoin and exploited the trend. Although, we have to note that fundamental factors weighing on BTC did not change. Therefore, we speculate it is possible we still have not seen a bottom in the price of BTCUSD. We will monitor the price action closely and update our thoughts soon.
Illustration 1.01
The picture shows Bitcoin reaching the 2018 price level.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Illustration 1.02
The declining volume hints at a cooling off in the selling pressure. In our opinion, that might foreshadow a temporary rally toward the 20-day SMA.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - The "Mashinksy" crash and the "panic mode"In the past 24 hours, Bitcoin fell an astounding 20%, marking a new low at 20 816.35 USD. Since then, Bitcoin bounced above 23 000 USD and continues to trade within its proximity. Yesterday, an important piece of news came out when the Celsius Network, run by Alex Mashinsky, paused withdrawals, swaps, and transfers on its platform. That is a substantial blow to over 1.7 million platform users, leaving their 151 534 BTC locked away. The company's statement says:
“Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations.”
That is yet another significant development in the cryptocurrency world after just a recent fallout with the Luna stablecoin token. In our view, this will lead to more scrutiny over cryptocurrencies from the U.S. regulators, creating even tighter conditions in the market. Furthermore, we expect the FOMC meeting on 15 June 2022 to accomplish the same. In our opinion, higher interest rates and economic tightening threaten the price of risk assets like cryptocurrencies. Additionally, we think that substantial cracks start to appear in the sector, which will culminate even in more panic selling. Therefore, we maintain our bearish stance on BTCUSD, and our price target stays at 20 000 USD.
*Total cryptocurrency marketcap dips below 1trn. USD!*
Illustration 1.01
The price of BTCUSD approaches crucial support levels from 2017 and 2019. If these levels are penetrated to the downside, that will be a very bearish development.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are bearish. Overall, the daily time frame is extremely bearish.
Illustration 1.02
20-day SMA and 50-day SMA continue to confirm the downtrend. However, at the moment, the price traveled too far from its 20-day SMA; in case of a correction, we would be looking for a retracement toward this moving average.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are bearish. Overall, the weekly time frame is extremely bearish.
Illustration 1.03
The picture shows panic selling in Bitcoin. Additionally, increasing volume hints at increasing selling pressure. The market continues to show characteristic signs of the downtrend with strong bounces and even stronger selloffs.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - 25k USD taken out and what is next?!Over the past few weeks, despite the numerous calls for the bottom and trend reversal, we kept our bearish stance on Bitcoin. Today it has plunged below 25 000 USD, hitting our price target and constituting a new low. We continue to maintain a bearish stance on Bitcoin. As a result, we would like to update the short-term price target for BTCUSD to 23 000 USD and the medium-term price target to 20 000 USD. Our views are drawn from bearish fundamental and technical factors, which are detailed below.
Fundamental factors
On 15th June 2022, the FOMC meeting is set to take place. We expect higher interest rates to impact the cryptocurrency market negatively. Furthermore, we expect the same from the economic tightening combined with reducing the balance sheet that belongs to the FED. Therefore, we foresee more pressure from the weakening stock market (to which BTCUSD is highly correlated) and a lack of appetite for risk assets. In addition to that, we view increasing scrutiny into cryptocurrencies (by the SEC and other governmental entities) as very harmful to the sector. In our opinion, the upcoming regulation after the fallout Luna stablecoin token will lead to an even tighter market.
Illustration 1.01
The picture shows two recent bearish breakouts leading to the formation of a new low in the price of BTCUSD.
Technical analysis - daily time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is very bearish.
Illustration 1.02
A volume tells a story of increasing selling pressure.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is very bearish.
Illustration 1.03
Illustration 1.03 shows additional simple support and resistance levels.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - Retail's irrational bulishness foreshadows more pain At the moment, Bitcoin holds up above the resistance level at 31 411.48 USD, which is bullish. If the stock market erases losses and ticks higher, then we expect it to positively impact the price of Bitcoin; as a result, we still speculate that Bitcoin might rise as high as 36 000 USD. However, the weekly and monthly time frames remain bearish which does not force us to abandon our bearish medium and long-term outlook. We still expect the rally in stocks to be short-lived, and the same we expect from BTCUSD. Therefore, our price target stays at 25 000 USD.
Illustration 1.01
Illustration 1.01 shows two recent bullish breakouts (above the resistance at 31 411.48 USD and above the sloping resistance).
Technical analysis - daily time frame
RSI halted its rise; at the moment it is flat. MACD is bullish but still within the bearish zone. Stochastic is bullish. DM+ and DM- failed to perform bullish crossover so far. Overall, the daily time frame is bearish.
Illustration 1.02
The picture above shows bullish breakouts in more detail; invalidations of breakouts are also indicated by yellow arrows. We will pay close attention to the price of BTCUSD; if it manages to hold up above resistance levels, then it is likely to continue higher (especially if the stock market rises).
Technical analysis - weekly time frame
RSI did not break its bearish structure. Meanwhile, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame stays bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - The bottom fishing turns out to be painful for retailYesterday, we warned that the (irrational) bullish exuberance among retail investors foreshadows more pain for the price of Bitcoin. Shortly after that, Bitcoin invalidated its bullish breakout for the third time and started to fall. Finally, after erasing more than 7%, Bitcoin halted its decline at 29 309.84 USD. Since then, BTCUSD has been mainly trading sideways. We continue to be bearish on Bitcoin, and we maintain our price target of 25 000 USD. Our view is supported by bearish fundamental factors like higher interest rates in the U.S. and economic tightening, which will put more pressure on the U.S. economy and cryptocurencies. As a result, we expect the downtrend to unravel in the coming months and Bitcoin to form a new low.
Illustration 1.01
Illustration 1.01 shows the failure of the bullish breakout (invalidation) and subsequent drop in the price of BTCUSD. We believe that fishing for the bottom will continue to punish dip buyers.
Technical analysis - daily time frame
RSI, Stochastic, and MACD are bearish. The same applies to DM+ and DM-. Overall, the daily time frame is bearish for BTCUSD.
Technical analysis - weekly time frame
RSI, Stochastic, and MACD are bearish. The same applies to DM+ and DM-. Overall, the daily time frame is very bearish for BTCUSD.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - BTCUSD eyes 25 000 USD againWith the recent developments in BTCUSD, we do not need to change our bearish bias. Therefore, our price target stays at 25 000 USD.
Negative fundamental factors
Among the fundamental negative factors weighing on the higher price of Bitcoin is the prospect of the FED pursuing more rate hikes in the U.S. and its reduction of the balance sheet. We expect these factors to strengthen USD and, as a result, weaken BTCUSD. Additionally, we still foresee the weakness in the stock market to which the price of Bitcoin is highly correlated; with more declines, we expect risk appetite to drop even further.
Technical analysis - daily time frame
MACD is flattening. Stochastic and RSI are bearish. DM+ and DM- are bearish too. Overall, the daily time frame is bearish.
Illustration 1.01
The picture above shows the bull trap we hinted at two days ago. Since then, the price of BTCUSD fell over 9%. Currently, BTCUSD trades around 29 400 USD; favorably, we would like to see a plunge below 28 600 USD. That would further bolster the bearish case for Bitcoin.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Illustration 1.02
The picture shows how Bitcoin failed to penetrate the sloping resistance; instead, it reversed to the downside.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin - Higher interest rates pose threat to BTCUSDBitcoin continues to move within the range between 28 615.23 USD and 31 411.48 USD. We still maintain a bearish notion on it as we expect the FED to move ahead with its economic tightening next week and pursue demand destruction. As a result, we expect the stock market to reverse the bear market rally and start drifting lower. Simultaneously, we expect this selling pressure and risk aversion to spill into the cryptocurrency market. Accordingly, we expect BTCUSD to be dragged lower by the declining stock market and rising USD. Therefore, we have no reason to change our bearish stance on BTCUSD; our price target stays at 25 000 USD.
Technical analysis - daily time frame
RSI is neutral. The same applies to MACD. Stochastic turned bearish. DM+ and DM- are neutral. ADX suggests the trend is turning neutral. Overall, the daily time frame is slightly bearish.
Illustration 1.01
The picture above shows two recent false breakouts above the short-term resistance.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Ethereum - Anticipation of a breakoutNext week, the FED is set to increase interest rates in the U.S., which we expect to weigh on the economy to which cryptocurrencies are highly correlated. Therefore, we have no reason to change our bearish bias. Our price target for ETHUSD stays at 1700 USD and 1650 USD.
Technical analysis - daily time frame
MACD is bullish but stays in the bearish area. Stochastic is bullish. RSI is neutral. Overall, the daily time frame suggests a lack of trend.
Illustration 1.01
The setup for Ethereum remains valid as no breakout has taken place yet. A breakout above the upper bound will be bullish, while a breakout below the lower bound will be bearish.
Technical analysis - weekly time frame
RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Bitcoin Buy Area updatedI think many of the Binance IPO whales will cash out some BTC and and BNB after the news that the Securities and Exchange Commission (SEC) is investigating Binance for the issuance of its cryptocurrency token Binance Coin.
A report from Reuters agency says that Binance unknowingly processed billions in illicit transactions, including illegal drug sales, hacks, and investment fraud totaling $2.35 billion!
I think this could lead to sell-off in the crypto market if it proves to be true.
My new Buy area for BTC Bitcoin is around 26K.
Looking forward to read your opinion about it.
Ethereum - Descending triangleEthereum appears to be forming a declining triangle. Therefore, we will monitor it closely and wait for the breakout above the upper bound or below the lower bound. We are currently inclined toward the latter scenario, which will see ETHUSD move lower. That is due to our bearish view of the cryptocurrency market. As a result, we would like to set a price target for ETHUSD to 1700 USD and 1650 USD.
Technical analysis - daily time frame
RSI and Stochastic are bearish. MACD is bullish but still in the bearish territory. DM+ and DM- are bearish. Overall, the daily time frame is bearish.
Technical analysis - weekly time frame
RSI, MACD, and Stochastic are bearish. The same applies to DM+ and DM-. Overall, the weekly time frame is bearish.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
facebook and bitcoin In the weekly time, a pattern has been formed in Bitcoin, which in my analysis, I have shown, this pattern was formed in 2013 on Facebook.
Even the dropout rate of this template is the same on facebook and bitcoin
So this pattern can be considered true in Bitcoin
Bitcoin has a significant resistance in the range of $ 38,000. If a weekly candelabra stabilizes above this range, we can see a tremendous market in the next 5 months.
#BTC/USDT 2Hr UPDATE !!Hello, dear traders welcome you to this BTC /USDT chart analysis.
Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
#BTC/USDT ANALYSIS:-As we can see in the chart mentioned above that BTC was again rejected from the local resistance.
Here I am expecting a bounce from the lower green support zone.
If it bounces, then BTC will break the upper resistance level this time.
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.
BITCOIN and range zoneBitcoin has been suffering in 4-hour timeframe for a long time. According to the chart, if the candlestick closes below $ 28,500, we will have a chance to start the downtrend in this time frame, and if the price supports the return trend, we will have a resistance of 30050.
Its not Buy or Sell SIGNAL
DYOR
BY : Mohamad Teriz - @AtonicShark
#BTC/USDT 30M UPDATE BY CRYPTOSANDERS !Hello, dear traders welcome you to this BTC /USDT 30M chart analysis.
Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
As I mentioned in my previous chart there is not much chance to see in this 30minute time frame,
Bitcoin is trading above the liquidity level in the Support area.
Prices broke the downside limit on declining volume and went back up on rising volume.
Fixed above 50MA on 30m time frame.
I expect the price to turn down from the current triangle but reverse once it recovers above the support level
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Thanks for your time, we hope our work is good for you, and you are satisfied, we wish you a good day and big profits.
THANK YOU.