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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.
BITSTAMP:BTCUSDShort
by Tradersweekly
18
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.
BITSTAMP:BTCUSDShort
by Tradersweekly
10
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.
BITSTAMP:BTCUSDShort
by Tradersweekly
13
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.
BITSTAMP:BTCUSDShort
by Tradersweekly
22
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.
BITSTAMP:BTCUSDShort
by Tradersweekly
4
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.
BITSTAMP:BTCUSDShort
by Tradersweekly
8
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.
BITSTAMP:BTCUSDShort
by Tradersweekly
25
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.
BITSTAMP:BTCUSDShort
by Tradersweekly
8
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.
COINBASE:ETHUSDShort
by Tradersweekly
17
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.
Short
by TopgOptions
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.
COINBASE:ETHUSDShort
by Tradersweekly
6
#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.
by CryptoSanders9563
4
#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.
by CryptoSanders9563
#BTC/USDT LINE CHART UPDATE BY CRYPTOSANDERS !!Hello, dear traders welcome you to this USDT.DOMINANCE 1hr chart analysis. I have tried my best to bring the best possible outcome in this chart. 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 we can see from the above-mentioned chart that BTC/USDT is printing a long bullish divergence in this line chart just like before in may-jun 2021. If we consider the tenure this bullish divergence is almost 4 months long. According to the past price action, BTC can put any time towards its new ATH. 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.
by CryptoSanders9563
2
Bitcoin - The stock market will drag BTCUSD lowerYesterday, the general stock market erased most of its “bear rally” gains. As a result, Bitcoin also erased some of its recent profits; however, not as much as the stock market. We expect Bitcoin to catch up with the stock market and manifest more selling pressure in the short term. Accordingly, we remain bearish and expect BTCUSD to form a new low below 25 000 USD. Illustration 1.01 The Nasdaq 100 index to which Bitcoin is highly correlated broke its downward sloping channel, which is very bearish. Indeed, in our opinion, it forecasts an acceleration in the selling pressure in the incoming days. We expect the stock market to drag BTCUSD lower with it. Technical analysis - daily time frame RSI started to flatten; we expect it to turn bearish again. The same applies to the MACD. Stochastic remains bearish; DM+ and DM- also remain bearish. The ADX shows extreme strength of the downtrend. Overall, the daily time frame is bearish. Technical analysis - weekly time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. The ADX increases, which suggests that the bearish trend of a higher degree is not losing momentum yet. Overall, the weekly time frame remains very 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
21
Bitcoin - The last lift up before the fall?Over the weekend, Bitcoin moved mostly between 28 500 USD and 31 000 USD. So far it has failed to make a new high above 31 411.48 USD; however, there is still some room for more upside before the fall we continue to forecast. Accordingly, we still remain bearish on Bitcoin as we expect it to make a new low below 25 000 USD. At the moment, we will pay close attention to the U.S. market indices and their ability to move higher, which we expect to lift up the price of Bitcoin in the process. In our opinion, that would be the last lift-up for BTC before another breakdown. However, that does not change our opinion; we still think that the current rally is a "dead cat bounce" Illustration 1.01 Bitcoin fully retraced to its 10-day simple moving average (white line) and then started to fall. (20-day SMA - blue line, 50-day SMA - red line) Technical analysis - daily time frame RSI left the oversold area; we will pay close attention to it. MACD shows signs of flattening. Stochastic is bullish. DM+ and DM- show the presence of the bearish trend. ADX contains a high value suggesting peaking conditions or extreme strength. Overall, the daily time frame is substantially less bearish than a week ago. Technical analysis - weekly time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. ADX increases. Overall, the weekly time frame remains 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
8
Bitcoin - BTC has entered the "Free-fall area" A few days later, we hinted at BTC eyeing 28 600 USD. Today, Bitcoin reached a new cyclical low and confirmed continuation of the downtrend. Indeed, Bitcoin entered what we previously named the “free-fall area” - an area with an absence of any significant support. In our opinion, Bitcoin will continue to move lower and mark new lows throughout the incoming weeks. Accordingly, we would like to set a new short-term price target for BTCUSD to 27 500 USD and a medium-term price target to 25 000 USD. Illustration 1.01 Cryptocurrency market-cap continues to crash along with BTC. Technical analysis - daily time frame RSI reached an oversold condition and indicates an extremely strong downtrend. MACD and Stochastic are bearish. The same applies to DM+ and DM-. Overall, the daily time frame is extremely bearish. Illustration 1.02 Stablecoin Luna also experiences a crash and foreshadows what is to come in other cryptocurrencies that have no other use than speculation. Technical analysis - weekly time frame RSI, MACD, and Stochastic are all bearish. DM+ and DM- are also 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
20