Get started

Btcmarketupdate

Rising wedge + bullish shark on BTCBTC is moving inside a rising wedge (bearish pattern). Price needs to hold the ascending trendline level, upon breakdown technical target of the pattern is $19,096. Bullish shark is developing which will complete at rising wedge technical target or $18,826. Right now, we are at critical situation due to CZ planning to sell FTX tokens and many people building up big shorts on FTX. If this happens then whole crypto market will face the consequences not just FTX. This will be another LUNA like situation, SBF is already selling his Solana bags to control FTX price reminds of how Kwon was selling BTC to control LUNA and UST price but failed miserably so be careful with your trades as fundamentals + technical are looking bearish as hell. We have mid-term elections in USA on 8th plus CPI data coming on 10th.
BITSTAMP:BTCUSDShort
by NasirCrypto
5
Bitcoin moving in symmetrical triangleBitcoin is moving inside a symmetrical triangle on a daily chart. Break down target is $18,950 and breakout target is $21,003 Price has been ranging between $19650 to $20400 for over 11 days now. This is considered as a boring market. People are mostly longing from support and shorting from resistance. We will soon see a move on either side because we have some events lined up in coming weeks Sept 13: CPI data Sept 15: ETH merge Sept 21: FOMC rate hike decision September is considered as one of the worse month in crypto, But we know BTC goes opposite of the herd mentality Most of the people are of the opinion that we will see $13K, You can't just out-rightly say this. You have to go from level to level. Firstly we need to break down from $19500 level to see $17K which is a strong level to break. It would be catastrophe for crypto if we go below this level, Like I said bottom is in already and we will consolidate for 2-3 months maximum before moving to the next cycle. Stay patient because you have survived this bear market so you will reap rewards of bull market.
Long
by NasirCrypto
BTC bear flag breakdown target $7075We have discovered that a bear flag was made and it broke down, Technical target of that pattern is $7075. I am NOT saying this is going to be a hit for sure but just sharing this analysis which we recently discovered. We might see a retest towards $21500 and then break down. Another confluence is rising wedge on 4H, Technical target of that is $18,474. We are poised that macro environment is not favorable for bulls in anyway as the structure of the market is making lower highs which MOSTLY leads to lower lows. Lets wait for monthly closure to analyze further price action.
Short
by NasirCrypto
4