#BTCUSD - Is this the Start of the $30k Move?So, after a massive move upward at the start of the year, bagging us a very healthy 30%, we've had a little wobble with a losing Short trade and now we're looking at a potential Long up to the 30k mark.
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BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) remained close to the $25,000 level to start the week, as market sentiment shifted towards bulls.
Following a high of $25,093.06 on Sunday, BTC/USD is currently trading at $24,808.03 at the time of writing.
Monday’s move comes as prices bounced from a recent support point at $24,200, and now appear to be on course for a ceiling $1,000 away.
Overall, the catalyst of this surge appears to be the 10-day (red) moving average, which crossed its 25-day (blue) counterpart over the weekend, in a move known as a “death cross.”
In addition to this, the relative strength index (RSI) once again moved beyond a resistance point at 64.00.
As of writing, the index is currently tracking at 65.88, which is marginally below a hurdle at 66.00, and this could be a reason why BTC has fallen from earlier highs.
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BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) BTC has also formed an Adam and Eve chart pattern and attempting to break out its neckline and making it weak in each attempt of breakout.
We've to wait for a breakout with a successful retest above it, which would confirm a strong bullish rally in the market.
If the bottom is closed then the chat will be invalid
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BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) moved toward the $25,000 mark on Saturday, as crypto markets rebounded from yesterday’s declines.
Following a low of $23,712.05 on Friday, BTC /USD raced to an intraday high of $24,924.04 earlier in the day.
As a result of this move, bitcoin once again broke out of its long-term resistance level at the $24,200 point.
the 14-day relative strength index ( RSI ) also moved back above its own resistance level at 65.00, after tracking near the 61.00 mark on Friday.
As of writing this, price strength is currently at a reading of 65.29, with a ceiling at 70.00 a possible target for bulls.
The 10-day (red) moving average has also fully shifted course, and looks to be nearing an upward cross with its 25-day (blue) counterpart.
Should this occur, BTC could be above $26,000 before the end of the weekend.
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BITCOIN IN A MASSIVE TRIANGLE SET TO BREAK OUT IN JUST OVER 24H?Bitcoin and the rest of the crypto market seems to be in some sort of bullish consolidation pattern. Seeing as how we are likely in a bull market, and Bitcoin Dominance is trending down, I wouldn't be surprised if many Altcoins broke out before then.
Here's the idea:
The timing of the triangle's projected completion with the open of the $DXY trading in a bit more than 24H is really compelling.
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) fell sharply below a high above $25,000 on Friday, as crypto markets moved into consolidation.
BTC/USD dropped to an intraday low of $23,460.76 during today’s session, which comes a day after hitting a high of $25,134.12.
The sell-off seems to have occurred as a result of bitcoin bulls being unable to maintain a breakout of a ceiling at $24,200.
Looking at the chart, the 14-day relative strength index (RSI) also moved back below its own resistance level at 65.00.
As of writing, price strength is currently at a reading of 61.89, which isn’t too far off from a support of 59.00.
BTC has already begun to rebound from its earlier lows, with prices now trading at $23,820.98 at the time of writing.
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Bitcoin - Price Appreciation UnderwayBitcoin rising to a higher-high resolves the prior minor wave forms into an irregular expanded flat correction, completing an atypical Wave 4 to now be in the throws of tracing out a Wave 5.
Consistent with the market structure outlined in my post from Jan 25.
What do you think? Is Bitcoin commencing a minor Wave 5 for another rally to higher highs, or are the poor Nigerians and other people around the world suffering under inflation (currency devaluation) seeking an independent store of value not going to have any effect on Bitcoin's price?
more updates on btc buying more opportunity to buy short position around my line above.
don't do margin or leverage more than double.
trading is all about being patient.
I am currently holding little postion but willing to buy more short position if goes above 23000.
18500 was my first short position.
FED will raise interest rate soon also.
MACE will be very much overbought within next week soon.
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) raced to a multi-month high on Thursday, as prices moved closer to the long-coveted $25,000 mark.
Following a low of $22,664.48 on Wednesday, BTC/USD rose to an intraday high of $24,769.24 earlier today.
Today’s move pushes the world’s largest cryptocurrency above a ceiling at $24,200, hitting its strongest point since August 20 in the process.
Looking at the chart, the 14-day relative strength index (RSI) also moved past a ceiling of its own at 65.00
As of writing, price strength is currently at a reading of 69.36, which is its strongest point in nearly two weeks.
The next visible point of resistance appears to be at the 75.00 mark, and should bulls make a run for this level, BTC will likely move well past $25,000.
I have tried to bring the best possible outcome to this chart.
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BTC - It paid to be bullish againI've been talking about being bullish. Buying the dip. Waiting for a pullback.
Well we got it and everybody ended up getting bearish. We're to the point where I do expect there to be some resistance. If you're a counter trend trader, you could go short here. Get out if we get above the trendline we're rejecting from. Your target would be the short term demand zone that I've outlined. Still very possible we go there.
I'm not in it for the yolo high leverage bull that others are touting while putting $5 in a 100x short/long then screaming that they're the best trader in the world. Enjoy your McDonald's double cheeseburger. No. I'm here for the long haul and will continue being bullish as long as it pays to be bullish.
End of story. Lets watch the reaction here and see what comes next. To be fair, I'd love a pullback into the short term demand zone but I won't be sad if it doesn't come, either.
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) remained above $22,000 on Wednesday, with traders continuing to digest the latest inflation report in the United States.
Following a low of $21,632.39 on Tuesday, BTC/USD rallied to an intraday peak of $22,293.14 earlier today.
Today’s move pushes the world’s largest cryptocurrency back toward a key resistance level of $22,500.
Looking at the chart, the 14-day relative strength index (RSI) also appears to be edging closer to a ceiling of its own at 60.00
As of writing, price strength is currently at a reading of 51.96, which is its strongest point in the last seven days.
Should this momentum be maintained, there is a strong possibility that BTC could not only break $22,500 but could also collide with the $23,000 mark.
I have tried to bring the best possible outcome to this chart.
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Bitcoin - Know the current supportBitcoin is currently at a fibo support, if from there it rises we have a better chance of a good rise at least up to 26,700.
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) continued to trade close to a multi-week low on Monday, as market sentiment remained bearish ahead of the upcoming U.S. inflation report.
Following a high of $22,060.99 on Sunday, BTC/USD dropped to an intraday low of $21,539.50 to start the week.
As a result of the decline, bitcoin remains close to its lowest point since January 20, which is the last time prices were under $21,000.
Looking at the chart, today’s move comes as the 14-day relative strength index (RSI) maintains its proximity to a support point at 44.00.
At the time of writing, the index is currently tracking at 45.80, with a resistance level of 50.00 an ideal target for remaining bulls.
Should this target be captured, bulls could extend this rally, and move to regain market momentum.
I have tried to bring the best possible outcome to this chart.
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BTC LONG TARGETTING 25K-30KFor the visual traders amongst us, this is what i want to see, a flush on fridays low stopping out anyone currently long and into the ob at 21k and the equilibrium of the original consolidation.
If this plays out in sessions then we want to see a monday/tuesday low of the week here and further exspantion to the upside.
AGAIN ill be live tomorrow london session 9am gmt
Long BTC/USD WeeklyThe long-term analysis of the weekly trend of Bitcoin indicates that BTC/USD is likely to remain bullish in 2023. This is primarily due to the fact that the cryptocurrency has been trading in a strong uptrend since the end of 2020, with weekly closing prices setting all-time highs on a regular basis. This trend is likely to continue in the near future due to the increased demand for Bitcoin as more people become interested in investing in the digital asset. Additionally, the increasing institutional demand for Bitcoin is also driving the price higher.
The increasing demand for Bitcoin is being driven by several factors, including the increasing demand for safe-haven assets due to macroeconomic uncertainty, the increasing use of Bitcoin in payment transactions, and its increasing adoption as a store of value. Additionally, the increasing number of companies accepting Bitcoin as a form of payment is also contributing to its increasing popularity. All of these factors are likely to continue to drive demand for Bitcoin in the long run, which is likely to support its bullish trend in the near future.
Furthermore, the increasing availability of Bitcoin derivatives and futures products is likely to contribute to its long-term bullish trend. These products allow investors to gain exposure to Bitcoin without actually buying the cryptocurrency, which further increases its demand. Additionally, the increasing number of Bitcoin ATMs and digital wallets also make it easier for people to buy and sell Bitcoin, further increasing its demand.
Overall, the long-term analysis of Bitcoin's weekly trend suggests that the BTC/USD pair is likely to remain bullish in 2023. This is due to the increasing demand for Bitcoin driven by the increasing use of the cryptocurrency in payment transactions, its increasing use as a store of value, and the increasing availability of derivatives and futures products. All of these factors are likely to support the long-term bullish trend of the BTC/USD pair.