BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) was back above $23,000 in today's session as traders focused on the afternoon FOMC meeting.
After registering a low of $22,874.43 on Tuesday, BTC/USD rose to a one-day high of $23,225.02 earlier today.
Today's move briefly saw the world's largest cryptocurrency from an interim range at the $23.200 level.
However, with higher volatility today due to the Fed meeting, the price has recovered from this point and is currently trading at $22.802.
This happened as the 14-day Relative Strength Index (RSI) continued to hover near a floor at 68.00.
As of writing, the index is tracking at 69.83 and may remain around this mark until the Fed meeting ends.
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Btcshort
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) retreated from a recent five-month high on Tuesday, with prices falling below the $23,000 mark in today’s session.
BTC/USD fell to a low of $22,657.58 earlier in the day, less than 24 hours after hitting a high of $23,296.53.
The move comes as traders appear to have secured gains from recent surges in price, and ahead of the upcoming Federal Reserve policy decision.
As can be seen from the chart, today’s drop saw BTC move closer to a price floor at $22,500, with the relative strength index (RSI) hitting a floor of its own.
Currently, the index is now tracking at 68.78, which is marginally above its long-term support point of 68.00.
Although a ceiling of 77.00 could be the target for bulls who rejected an earlier breakout, it is likely that prices could consolidate until the dust settles from this week’s fundamentals.
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BTC/USDT HOURLY UPDATE BY CRYPTOSANDERSHello and welcome to this BTC /USDT chart update by Crypto Sanders.
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Chart Analysis:-Bitcoin is forming a broad uptrend channel. The boom can be seen from here. A break below $22,500 will invalidate the pattern and we could see a dump toward the $21,000-$21,200 support area.
This is not a piece of financial advice.
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BTC/USDT WEEKLY UPDATE BY CRYPTOSANDERSHello, welcome to this BITCOIN WEEKLY update by CRYPTO SANDERS.
CHART ANALYSIS:-The bitcoin weekly candle closed above descending trendline resistance. Bulls reclaimed 2017 bull run highs after bouncing off historic trendline support, demonstrating bull strength.
BTC was rejected from the horizontal resistance and is now above the $22.6K support.
BTC hunted for downside liquidity and retested the descending channel.
A significant bullish rally will be confirmed by an effective retest of the descending channel and a solid breakout of $25,500.
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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 near a five-month high on Monday, following a strong rally towards $24,000 over the weekend.
Following a high of $23,919.89 on Sunday, BTC/USD fell to a low of $23,166.83 to start the week.
Sunday’s surge saw BTC bulls push prices to their strongest point since August 26, however, these same traders have already begun to retreat.
Looking at the chart, the decline commenced following a failed breakout of a ceiling at 85.00 on the 14-day relative strength index (RSI).
As of writing, the index is now tracking at 72.19, with a floor at 65.00 the only current visible target for bears.
Should this zone be hit, it is highly likely that BTC will be trading close to a support point at $22,500.
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BTCPERP NEAR FUTURE ANALYSIS (4H Chart)Technical Analysis Summary
BTC/USDT
TREND ANALYSIS
We have 1 Downtrend in red color (Short Term).
Be careful trends need to be modified when broken to the new peaks (Downtrend) and lows (Uptrend).
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of strength of levels (ONLY FOR VISUALS).
White levels Levels are very tight stop losses that could be used in high leverage future trading.
Good luck everyone, stay safe!
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BTC/USDT 1HOUR UPDATE !!Hello and welcome to this BTC /USDT chart update by Crypto Sanders.
I have tried to bring the best possible result in this chart.
Chart Analysis:-BTC is moving bullish in a rectangular channel. It attempted to breakout but could not close the candle above it.
It now maintains itself above its horizontal support. Further consolidation can be expected inside the rectangular channel.
A successful breakout of the rectangular channel will confirm a bullish move in the market, while a solid breakdown will confirm a descending push toward the horizontal support at $21,350 from where we can expect the market to bounce higher.
This is not a piece of financial advice.
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BTC/USDTHead And Shoulders Chart Pattern
The Head and Shoulders pattern is very easy to spot and can be a caution for traders especially when the pattern occurs at the top end of a rally or its bearish counterpart, the inverse head, and shoulders that occurs at the trough of a downtrend.
In the chart above, you can see the basic structure and the setup of the head and shoulders pattern (bullish and bearish). The neckline support (or resistance) is the key as a breakout from this level indicates a shift in the trend.
The most basic way to trade the head and shoulders pattern is to wait for the breakout from the neckline. Some traders prefer to wait for a retest back to the neckline while others simply buy or sell on the breakout. The target is set to a measured move, measured from the head (high or low) to the neckline (support or resistance) and projected from there on.
BTCBTC is trading in a range of 22400-23200 after giving a strong upside move. Range bound is a good sign as it allows oscillators to cool down on the lower timeframe and make a bigger move next time. Breaking above the range with volume and sustaining above it will take it to 24900 target. Breaking below will call for a retest of 21600.
BITCOIN/USD 1DAY UPDATE BY CRYPTO SANDERS !! Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Bitcoin ( BTC ) moved to a fresh five-month high earlier in the session, as markets reacted to Tesla’s latest quarterly earnings report.
The report, which was released after yesterday’s closing bell, showed that the electric vehicle maker did not sell any of its bitcoin.
Following the news, BTC/USD raced to a high of $23,722.10, hitting its strongest point since August 17 in the process.
Looking at the chart, the move saw BTC once again break out of a ceiling at $23,500, and this comes after colliding with a floor at $22,500.
Earlier gains have somewhat eased, with the 14-day relative strength index (RSI) back in overbought territory.
As of writing, the index is tracking at 80.77, with a support point at 78.00 the next visible target.
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BTC/USDT 3DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USDT update by CRYPTO SANDERS.
CHART ANALYSIS:-BTC broke the $23.5K resistance in the recent move but could not close a candle above it. The previous lower higher horizontal resistance is near $25K.
BTC is retesting the descending channel and Ichimoku cloud. A successful retest or a candle above the marked horizontal resistance would confirm the move toward $30K. This will also confirm the continuation of the market boom.
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BTC TO 24K Today ? Here's a possibility in my eyes that could happen today!
BTC is in an upward wedge coming up to a very important zone. THE 24k Zone. BTC must hold the current support LVL of 22990-23100 IF it wants to continue to the upside.
If we hold this area we could see BTC go up and test the 23985- 24304 LVL
ON THE FLIP SIDE
If we lose this current LVL of support we will most likely go back down and test the 21100-21500 LVLS