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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
Technical analysis update: BTCUSD (22nd November 2021)Last week we correctly predicted bearish breakout below the neutral zone. We also noted that we expected retest of 55 000 USD price level (BTCUSD stopped its decline at 55 640 USD). Since then price action continued to be choppy. We think it is possible for BTCUSD to retest 55 000 USD price level again in the following days. Technical analysis supports this view as technical indicators point to bearish conditions in the market. We recently pointed out possible double top being formed: Recent developments seem to confirm this development. However, we would be forced to change our stance if price retraced back into neutral zone depicted on the main chart. We also pointed out (several times over past two months) decreasing volume in BTCUSD while price was climbing higher: We noted that new buyers were increasingly harder to find. After that, drop in price followed. Technical analysis - daily time frame Daily time frame shows bearish developments. RSI is bearish and same applies to MACD and Stochastic. Indeed, MACD is performing bearish crossover which we expect to be accompanied by further selling pressure. However, ADX contains low value which suggests that current trend is either neutral or very weak (this coincides with ADX on weekly time frame). Because of that we expect price to move sideways for little longer before finally going lower. Technical analysis - weekly time frame RSI failed to perform bullish crossover and instead it reversed to downside. ADX continues to decline which suggests that bullish trend of higher degree has most likely peaked and trend is becoming neutral. MACD remains in bullish territory, however, it started to flatten little bit. Stochastic also remains in bullish area. Although, it already performed bearish crossover. In general, weekly time frame flashes warning signs for BTCUSD as it suggests previous bullish trend is becoming neutral. RSI's failure to penetrate 70 points into bullish territory on weekly time frame: Support and resistance Major support level sits at 28 600 USD. Major resistance level lies at 69 000 USD. Support 1 appears at 52 956 USD. Support 2 lies at 48 834 USD. Support 3 is at 42 900 USD and then Support 4 is at 39 573 USD. Resistance 1 lies at 59 603 USD while Resistance 2 sits at 64 895 USD. Psychologically important price levels From psychological standpoint there are few other price levels that are important. These are respectively: 70 000 USD, 60 000 USD, 55 000 USD and 50 000 USD. Our previous idea from 16th November 2021 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
6
Bitcoin Has NOT Topped Out - This Is How It Will MOON MartyBoots here. I have been trading for 14 - 15 years and I am here to share my ideas with you to help the Crypto space. Bitcoin & ALT Coins are Setting up for a HUGE bounce and we in CryptoCheck intend to make lifechanging money ALT SEASON IS NOW - DO NOT BE LEFT BEHIND ------------------------------------------------------------------------------------------------------------------------------------------------------------ If you want help trading Bitcoin or any other ALT coins hit me up , We will improve your trading . Have a look at the link below ------------------------------------------------------------------------------------------------------------------------------------------------------------
BINANCE:AAVEUSDLong
by MartyBoots
11
LONG BTCUSD Bullish Upside (5th Wave Before ABC Correction)Looks like the 4th wave is complete and we can most likely expect the 5th wave starting very soon! According to Elliott Wave theory we are following these rules: When Wave 3 is less than 1.62, the 5th Wave overextends itself. From research, the ratio of Wave 5 will be based on the entire length from the beginning of Wave 1 to the top of Wave 3. Now we have 3 possible outcomes for our target areas according to the Elliot Wave theory because our 3rd wave did not extend: ~80K because Extended Wave 5 = either 0.62 x length (beginning of Wave 1 to top of Wave 3) OR ~93K because Extended Wave 5 = length of (beginning of Wave 1 to top of Wave 3) OR ~116K because Extended Wave 5 = 1.62 x length of (beginning of Wave 1 to top of Wave 3) So in the chart you can see our fib is equal to the length of 0–3. It is a projection from the end of Wave 4, meaning we added 0-3 to the end of wave 4. After the 5th wave completes we can expect a bigger ABC correction. Be very careful buying at 80K+ after completion of wave 5. It might cost you a lot. Our guess for now: The upcoming 5th wave will probably result in huge explosion in the NFT space, legit Crypto Gaming coins, DEFI and everything related to Metaverse. HAPPY TRADING!
Long
by Traderfriends
1
BTCUSDT: NTV and l/s ratio screams sell+Frenzy kills blockchain.Hi folks! I know I am really starting to look like a "permabear" here, but I am still holding on to my shorts despite a couple of intense days (my short have an average entry of 57.1k). I am taking no actions right now except keeping my shorts, so I guess this is a neutral post. Now, trying to watch the more fundamental picture rather than only T.A. it is easy to see why I have been wrong for so long, but also why I still might make a lot of money on my shorts: - As long as T.A. goes, the 1D Bollinger Bands have usually been a good contrarian indicator, and especially after consecutive breaks of the same bound. BTCUSD has touched the upper 1D BB for the fourth consecutive time, and that is rather crazy. - The Long/Short bitfinex ratio is extremely high ATM, indicating that liquidation hunts can only happen in the downside direction, and that the dominoes can startt falling very fast due to the total amount of leverage on the longs. - The NTV has signalled a rather massive overpricing og BTCUSD compared to the inherent network value (=the use of the blockchain). In fact, this overpricing is much higher now than during the bull-run leading up to may, indicating both that the network activity has fallen (since the price is in the same range as the tops up untill may) and that the current market is even more speculative than before the 64 to 30k drop. As for the record, I am a huge believer in blockchain technology, and my long-standing bearish view has nothing to do with that. In fact, I believe that frenzies like we have seen now only damages the reputation of the technology - this statement is based on three factors: - The average investor/gambler do not understand the tech good enough and cannot separate crap from fantastic projects, so the frenzy steals focus and money from those projects who has the potential to change the world. - The important discussions about the real values and use cases of blockchain are delayed (and potentially killed) by the frenzy, as regulatory risk increases and the average person care more about the potential of getting rich fast than to understand the arguments for using the tech. - Stablecoins most likely has a very important role in creating these frenzy markets as they provide liquidity in ways that the average person (or potenially anyone) do not understand. My view is that stablecoins should never be issued by a company - if you say that you like crypto due to the idea of decentralization and still accepts that actors like Tether Ltd. controls the entire market in the same manner as the Fed controls the stock and bond market by, then you are actually full of bullshit because you then only care about gambling and not decentralization: Tether Ltd. is a huge bank (likely buying very sketchy debt) and nothing else in practice. In short, we need to get rid of these shady actors in the market before people can really take it seriously - let´s just hope USDT collapses sooner than later for the sake of blockchain. My point here is: Do not confuse gambling (which I also do) with the belief in blockchain technology - they are completely independent in the current environment. I wish you all well! DYOR. NFA. Never take the word of others as a given, and never take advise from someone without skin in the game.
by TheDots
(BTC) - AS SIMPLE AS THAT -Hello everyone ! Today the Black Cat Trader is analyzing BITCOIN based on a weekly chart 📈 What we can see : - Prices took support on the 0.5 fib level during the last sell-off back in May 2021. - Then, bounce to the 0.236 and rejected by this Fib extension which coincides with the median line of the pitchfork too.. - Finally, prices took support on the 0.382 to reach the level 0, which coincides with the intermediary upper line of the pitchfork too... What we can expect : - Bitcoin could take support on the median line of the pitchfork to reach the last upper line (coincidence with the 1.618 fib level too). Then, if Bitcoin breaks the last upper line of the pitchfork, the first target is 2,618 (102 811 $) Resistance 1 : pitchfork intermediary upper line Resistance 2 : pitchfork upper line Support 1 : pitchfork median line Support 2 : 0,236 fib level (50321 $) —— TP1 : 126 956 $ ( 3.618 + 1.618 ) TP2 : 151 101 $ (fib 4.618) TP3 : 188 605 $ (fib 2.618) IF YOU LIKE THIS POST, FEEL FREE TO LEAVE A LIKE AND FOLLOW THE BLACK CAT TRADER MAY THE CRYPTO BE WITH YOU GUYS (D.Y.O.R)
COINBASE:BTCUSD
by Hector_Bienvenu
2
BTCUSD - Bullish Momentum Continues ^^ Hello everyone, Just a little update on previous analysis regarding BTCUSD current trends. There are big moves in crypto lately and we can see that in price of Bitcoin. There are some trends that I follow right know, most of them being bullish, but that doesn t mean BTC cannot dump to the 25k zone still. There are some max spotted between 70k and 90k on the Medium Orange Trend in case we continue on it. On the other hand there is the big red trend that concerns me and investors probably.. which can pull Bitcoin to the 25k-30k zone. Considering that we didn t saw a bullrun on altcoins market, I strongly recommend to take a look on its and in case you need, I will and I already have some posts with altcoins market and some certain coins to pay attention on. Probably the last phase of bullrun is coming, take care on it. Remember, this is not a trading advice, St.Gex
BITSTAMP:BTCUSDLong
by St_Gex
2
ALT SEASON Is HERE - Watch This To Make Life Changing Money MartyBoots here. I have been trading for 14 - 15 years and I am here to share my ideas with you to help the Crypto space. Bitcoin & ALT Coins are Setting up for a HUGE bounce and we in CryptoCheck intend to make lifechanging money DO NOT BE LEFT BEHIND ------------------------------------------------------------------------------------------------------------------------------------------------------------ If you want help trading Bitcoin or any other ALT coins hit me up , We will improve your trading . Have a look at the link below ------------------------------------------------------------------------------------------------------------------------------------------------------------
CRYPTOCAP:TOTAL2Long
by MartyBoots
39