Btcsignals
Bitcoin the closing monthly options worth 2 billion, July 28I closed a short position on Bitcoin, a high chance of a rebound to 30,500 - 31,000, after which we will continue to decline to the levels of 0.618, I indicated a wide area on the chart. Now the volume indicator indicates strong buyer pressure at all time frames.
BITCOIN Near the 1D MA50, ready for a pump to $34000Bitcoin (BTCUSD) has been consolidating for nearly a full month (since the June 23rd High) and the 1D MA50 (blue trend-line) is only 1000 points away. Since the bullish break-out exactly at the start of the year, BTC has used the 1D MA50 as the short-term Support and more specifically the bounce level before each Higher High.
As you see on this chart, the movement since the start of 2023 has been fairly Cyclical, a Higher Highs rejection starts a correction, which when the 1D MA50 breaks (1D candle closes below it), extends towards the 1D MA200 (orange trend-line). This sequence current has the last Higher High to give and we expect to start any time. Our target is $34000.
Do you think the 1D MA50 will hold or break? Feel free to let us know in the comments section below!
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$BTC Daily UpdateCRYPTOCAP:BTC #BTC $31,372 support in effect, CRYPTOCAP:XRP news gave the required push thru $31,372 yesterday, $31,861 resistance rejected, doji on last 4H, bullish engulfing 1D close requires follow up today. Next resistance $31,113. Support $31,372 looks fine, $31,010 could be key support.
BTCUSD AnalysisBitcoin on weekly supply zone resistance, after rejecting from it the first time, obviously bitcoin is at the zone the second time, seeing the momentum weekly candle, Bitcoin might retrace 50% of the momentum candle.
the possibility for bitcoin to take out the weekly supply zone(sell zone) is 50% compare to possibility for Bitcoin to retrace 50% of the momentum candle is 75%.
the best location to trade Bitcoin is at the 50% of the momentum candle to go Bullish in to the weekly supply zone.
Also note that the weekly bias for Bitcoin is bullish (on ascending trend line)
BTCUSDT can ascend further!➡️falling wedge pattern it means that the price would increase and the price has already broken the pattern and Pullback is complete it. means price can rice to top of channel.
🌟 Bullish signals in the PRZ area are:
- Dynamic Support
-Broadening Wedge
⭐ Note if the Dynamic Support is broken downwards with the strength of Bearish candles from the bottom , this analysis of ours will be failed.
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