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Btcrecovery

BTC Bottomed out?? we saw a huge correction across the entire crypto market today, and even a week ago we had a smaller correction. I think corrections can vary in timeframes from a short one to a longer one like we are seeing now over the course of a week. We almost perfectly bounced off the 0.6 FIB level or 30K and now have recovered even above the 0.5 FIB/ 38K. These are both very strong levels and i would really like to see a close tonight above 38K. For the first time since March 2020 we are actually in the oversold zone of the RSI, we should be able to get some momentum back soon. 1 other thing that we need to do is regain the 200 day MA, this is very very key guys remember that, if we don't get back above the 200 day (purple) MA we could see some more downside. Not financial advice it is really difficult to say where we are headed but with the technical standpoint i say we recover. No one knows for sure but that is the most likely move, Just my opinion!
BITSTAMP:BTCUSDLong
by JacobR905
BTCUSD What will happen next ?A whale purse sold 10.000 BTC yesterday and the price fell dramatically. You can track his activity here: bitinfocharts.com However it was expected that something would happen as soon as Bollinger Bands contracted close to each other. We faced with a dump. The price managed to consolidate a little below Fib 0.786 support level and now it is resistance. Probably it is the most important week in the BTC history as it is going to break the Triangle which was formed due to the largest crypto market crisis. If BTC price breaks the Triangle down for a very long time we will have BTC price around $5000 If BTC price breaks the Triangle upward it will quickly recovers to the previous heights. We think it will manage to go upward from the Triangle and there are several reasons for this: 1. Bullish XABCD pattern has just been formed 2. Stoch RSI and MACD confirms possibilities of growth 3. From the yesterday's dump price consolidated and is growing slowly However there are still some threats: 1. The price is at the edge of the lower Bollinger line. If it breaks down of it then the trend will be descending again. 2. Red line of ichi cloud is above green line which means there is a strong resistance 3. The price is below Fib 0.786 resistance level Conclusion: If the price manages to break Fib 0.786 resistance level which is around $8350 then we will have ascending movement. Combining it with the Bollinger bands indicator means that the price will move from the lower edge to the upper edge of the channel, hence it will head to $11900. This will break the Triangle upward and bring a new wave of growth.
BITFINEX:BTCUSD
by Skyrexio
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