Btcusdforecast
WILL BTC DUMP FURTHER OR BOUNCE BACK??? Welcome members to this BTC update.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
Let me keep it short and simple.
Many traders are not liking the recent BTC dump. BTC is almost breaking down below the support level but we cannot confirm completely as we still have roughly 19 hours left for the candle to close. This could turn out to be a wick and BTC could bounce back or BTC could dump further down.
It will be a wise decision to stay away from trades and observe the market. I will close all my spot holdings if BTC fails to close above the support level.
Bitcoin- The pressure remains strongly to the down sideAfter reaching the 30k figure, as was normal, BtcUsd has had a rebound. However, this rebound was short-lived and the price is near 30k again at the time of writing.
Yesterday's candle has a long wick to the upside and it looks like today's candle will not be different. This can mean strong selling pressure and could lead to a break under 30k.
Supports come into place 2 from 2k, at 28 and 26 with important congestion support at 24k.
Short-term traders can target this 24k for their sell trades with negation above 33k.
Bitcoin Technical Analysis to Determine Price next MoveApparently, #BTC is consolidating at a lower timeframe 1hr, once price breakout from this consolidation zone upward ⬆️ , a possible bullish move is comfirmed.
Alternatively if price breakout occurs Lower surely price continues to dip more.
Standby for price actions to confirm next price move..
Expect a bounce soon in BTC As I had showed my idea in my earlier publish, BTC DID FOLLOW EXACTLY THE SAME PATTERN but it was so quick and without a small relief bounce. So from here I expect BTC to do some consololidation n touch the support line a few times n then bounce for uptrend till the resistance area. Potentially braking above it after 2 3 test on the resistance. For me I think BTC could touch max 27k in a quick dip. Nothing below that. 27k-30k is a good buy zone for long term holders. Also the weekly ema as u can see, follows a nice pattern, support and resistance are accurate. I expect the resistance will b broken above in the next bull Run.
Bitcoin bears eyeing 20k!Looking at BTCUSD (Bitcoin), I think it is trying to fulfil it's double top formation. Bitcoin made a rejection from the 30k support level and rose up with at least 6% today. This might be due to profit taking. Looking at it, I predict it breaking it's 30k handle and falling to 20k level, to the 200 simple moving average.
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Bitcoin- 30k target hit, what's next?Last week I said that Bitcoin could drop hard and reach 30k soon and yesterday the price reached this target.
The big question is now what?
Looking at the daily posted chart we can see that the trend is grossly bearish and Bitcoin could easily drop under 30k.
My idea remains unchanged, sell rallies and a expect BtcUsd to drop under 30k support
The next important support is around 20k and for a more optimistic view the price should pass above 37k
BTC UPDATE: IN SHORTER TIMEFRAMEWelcome members to this update on BTC in 2 days timeframe.
If you are viewing my post for the first time then do not forget to like and follow. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest at my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on them or use them to understand the market.
We all are aware of the rejection and this may have affected many traders. This is the harsh reality of crypto. You can make easy money here as well as lose it. The market is always volatile and uncertain. So, either you face it or give up and find something else.
Moving on to the chart, BTC got rejected from $48.2k and until now it is close to a 30% drop which is not at all good. Now, it looks like BTC is most likely to enter the support zone which is between $29.6k to $33.5k. This can be a good accumulation zone if BTC bounces back from the support level. If BTC fails to hold this support level then God knows what will.
But technically speaking, I am quite positive about a bounce coming soon on BTC. I may be wrong but I am surely expecting a bounce on BTC soon. Like I said in my previous update, a slight difference in a higher timeframe makes a huge difference in a shorter timeframe. In my two weeks BTC chart, things look so bearish but in this 2 days BTC chart, we have the support that we can rely on.
What do you think about BTC? What is your prediction?
Do share your ideas in the comment box.
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Thank you.
BTC Important key levelsBTC / USD
I think BTC still following my idea that I published on 14th april
price finally hit 37k (second support line in my chart )
You can check my last idea here :
WHAT NEXT ?
From here I expect Bitcoin to test first support of channel which turned to resistance now (around 41k)
The price action there will determine the next move :
1–If price able to hold above 41k expect good bullish move toward the upper boundary of channel
2–If price see another rejection , this time i think channel will break to downside and my first target will be around 34k
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Possible movement of bitcoin pirce per usdtIn a monthly basis, as shown in the chart, these are possible targets of daily trend.
But if it fails the monthly pivot (black box, lower bottom), the price may reach 16700 $.
But in the past, it is probable the price will return to the upper targets in daily trend, and the targets are also pictured.
The movement momentum can possibly come into action from the daily box (orange box), since it is the trigger price.
We'll wait to see what happens.
$BTCUSDWhat is Bitcoin?
Bitcoin is a cryptocurrency. It is a decentralized digital currency that is based on cryptography. As such, it can operate without the need of a central authority like a central bank or a company. It is unlike government-issued or fiat currencies such as US Dollars or Euro in which they are controlled by the country’s central bank. The decentralized nature allows it to operate on a peer-to-peer network whereby users are able to send funds to each other without going through intermediaries.
Who created Bitcoin?
The creator is an unknown individual or group that goes by the name Satoshi Nakamoto with the idea of an electronic peer-to-peer cash system as it is written in a whitepaper. Until today, the true identity of Satoshi Nakamoto has not been verified though there has been speculation and rumor as to who Satoshi might be.
BTCUSD a falling knife and where it might reverseConsistent to my previous analysis, BTCUSD did get to the predicted level however price did not reverse. It seems now price is seeking lower level liquidity indicated on the chart. The likely reversal zones are also shown with the lower one being a more high-probability zone.
Never enter longs unless you see market structure reversal on lower timeframes (H1, H4). Good luck
BTCUSD 1W What's next: apocalypse or new growth wave?Next week in the cryptocurrency market promises to be very interesting and fateful
The price of BTCUSDT has approached the liquid price range of $31,000-34,000, which has been a strong support zone for buyers for more than 1.5 years.
What's next? :
1) Apocalypse in the cryptocurrency market - If sellers manage to sell and fix the price of BTC below this liquidity zone, the "Head and Shoulders" pattern is fully activated. Below $31k are a lot of levels where hidden stop orders of longs. If they break and the market will start falling mercilessly, something like March 2020 (if anyone remembers these painful feelings).
The first fall goal is to close GAP $23800-26500, which has not been filled since December 2020 (the market remembers everything ..). Even lower - this is $20-21 thousand - growth peaks in 2017.
2) A new wave of growth - In 12 hours, a new weekly candle will open. It is possible that with its opening, sellers will try to bring down the price of BTCUSD and break stops below $32,900, but buyers must act aggressively and redeem any attempts to fall.
If buyers show themselves with dignity, courage and aggression, like real warriors, then the opportunity for a new wave of growth will open up. This has already happened a few times in the history of BTCUSDT bidding.
On the graph, we have shown a possible growth projection for the next 7-8 weeks in the area of 53,000 for Bitcoin.
Which scenario is closer to your heart?, share your thoughts in the comments
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Since 2016 , we have been analyzing and trading the cryptocurrency market.
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