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BITCOIN BACK TO $15K!!! THIS IS IT!!!BTC has officially entered the $15k zone after 2 years. History has been made where BTC has once again entered the $15k range. What's next??? Next! Is the support at $15.7k? This support is long-awaited and BTC must hold this level. If BTC breaks down to this level then $11k to $12k is the next stopping point. I am thrilled as well as afraid of what I am witnessing right now. I am accumulating more and if we see more dips, I will buy more. What are you doing about this dip? Trade safely, guys.
BITSTAMP:BTCUSDLong
by Dexter_The_Trader
2
Nightmare BTC ScenarioThis is the worst case scenario for BTC, a giant macro head and shoulders. The best case scenario is that we bounce at the macro GP around 9-10k. Based on the S&P fractal (the one from the 2008 crash that perfectly fits our current price action) I have to assume the worst for the crypto market. I was just waiting to see what the "news" would be that triggered the huge crash, and we just got it with FTX. That's our "black swan event" - buckle up everybody. Short everything for financial freedom, and don't forget to put your hands up and yell "weeee!" all the way down. Also make sure to withdraw profits on the way so the exchange isn't insolvent by the time we get there lol
INDEX:BTCUSDShort
by DigiLex_LLC
8
BITCOIN: ALL IN ONE.Hello traders, I hope you all are doing well with these recent dumps. The market was already in an uncertain stage and then the pump-and-dump scenario by the two most powerful influencers. There's a lot to take but in this chart, I will try my best to simplify all these complications. In this chart, I am gonna talk about three important things, Past & present scenarios, Support level, and the bull run. So, let's get started! Note: This update is going to be a long one so please bare with me till the very end. 1. PAST & PRESENT SCENARIOS: It was March 29th, 2022, when BTC dumped from $48k all the way to $24k (-50%) in 44 days, and the market went crazy. Then we saw some sideways moves for about 33 days expecting BTC to bounce back but on June 12, it made another drop from $28k to $17.6k (-38%) in just 6 days. Ever since then, BTC is trying to maintain this support level (17.6k) and push the price toward a bullish rally. The recent drop has brought BTC back to a similar situation where holding the support is a must. If history is going to repeat and BTC breaks down the $17.6k support then a -38% drop would mean BTC at $11k to $12k. 2. SUPPORT LEVEL: $17.6k has been an important support for BTC. In a daily timeframe, this may look like important support but in weekly TF, it is not. I will share details about the weekly chart in my next update. For now, we will consider $17.6k to be the present support. 3. THE BULL RUN: We all are anxiously waiting for the bull run and there are many traders predicting dates for the bull run. They can be right, according to their analysis. For me, I would rather go with the numbers. In this chart, you'll see 2 confirmation levels, 1st confirmation level is at $24k to $25k and then the 2nd confirmation level is at $30k to $32k. BTC needs to break these two levels to confirm a bull run, until then we need to wait and accumulate the bottom levels. KEY POINTS: * $17.6k Support. * $24k to $25k 1st bull run conformation. * $30k to $32k 2nst bull run conformation. What is your thought on the current market scenario? Let me know in the comments. Good hours ahead, thank you.
BINANCE:BTCUSD
by Dexter_The_Trader
2
IS BITCOIN STRONG ENOUGH TO HOLD?Hello traders, I hope you all are doing well. BTC did make a move but toward the downside. It went straight to the support level and in an hourly timeframe, we can see a bounce back from the support. The interesting question that arises is whether BTC can hold on to this support or will it drop down below the support. If BTC manages to hold this level then we can expect another bounce back but if breaks down then we need to be ready for some more bearish moves. Things are getting pretty interesting. Thank you for reading. God bless.
COINBASE:BTCUSD
by Dexter_The_Trader
4
Bitcoin - Shattering of the Bitcoin bubbleYesterday, we projected a downward sloping channel and laid out conditions for its invalidation that came later with the breakout above the upper bound. In such a scenario, we stated the pattern would most likely get distorted. However, an increase in volume after the weekend makes us speculate about the price returning to the channel. Although, such development has to happen either today or tomorrow; otherwise, distortion of the pattern will materialize. Despite that, we stick to our bearish narrative, mainly due to the persistence of bearish fundamental and technical factors. Among fundamental factors, we view threat predominantly in the prospect of higher interest rates, quantitative tightening, and a slowing economy. Indeed, mounting evidence continues to show the U.S. economy is headed into a deeper recession toward the end of 2022. As such periods are typically accompanied by risk-off mood among market participants, we expect this time to be no different. Regarding technical factors, indicators show bearish signs across daily, weekly, and monthly time frames. That, in reality, reflects a powerful downtrend of a higher degree with the potential to last through the rest of 2022 and very likely also throughout 2023. Because of that, we have no reason to change our medium and long-term outlook on Bitcoin. Indeed, we think the cryptocurrency market will stand a test over the coming months, with Bitcoin retesting its 2022 lows. Accordingly, we stick to our price targets at 17 500 USD and 15 000 USD. Illustration 1.01 Illustration 1.01 shows the downward sloping channel we introduced yesterday. However, the breakout above the upper bound invalidated the channel. Because of that, we pay close attention to volume, which is on a pick-up after the weekend. In our opinion, that is a bearish sign, foreshadowing the price's return into the channel. Technical analysis - daily time frame RSI strives to turn bullish. MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 Illustration 1.02 portrays several bearish developments on the daily chart of BTCUSD. Yellow arrows indicate bearish breakouts below support levels and bearish crossover between 20-day SMA and 50-day SMA. All these developments support our bearish narrative. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Illustration 1.03 The weekly chart of BTCUSD also shows two moving averages: 20-week and 50-week SMA. The price naturally retraced to its 20-week SMA, serving as a strong correction of the downtrend. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Short
by Tradersweekly
27
INDEED BITCOIN HOLD THE $20K SUPPORT.Well! Well! Well! Here comes the breakout on BTC. My previous analysis got invalidated cause I expected a quick drop toward the $19.3k support level. Things took a sharp turn on BTC and unexpectedly it rallied all the way up to $21.4k as per the current scenario. This could be a good thing for the market both in the short and long term. If BTC manages to stay above this breakout level then we can consider something massive rolling into the crypto market. But if BTC drops down below it then this could possibly be another trap. At this point in time, I am not gonna play a scalping game. I would rather bet on long-term gains on BTC and other major altcoins. I am long on BTC at $18.3k and I will continue to hold it. If BTC drops down below $20k once again, I will accumulate more. Anyways, I will discuss more regarding the long-term perspective on BTC in the higher timeframe update. Thank you for your continuous support of my content. Trade safely.
BINANCE:BTCUSD
by Dexter_The_Trader
1
BITCOIN: HOLDING THE $20K BENCH MARK.Hello guys, I hope you all are doing well. Let's have a quick analysis on BTC in 8 hours timeframe. BTC was under the dilemma of breakout or rejection but now we can clearly see that BTC is under the rejection zone. As per the chart, if BTC further rejects then we may possibly see it close to $19.3k where we have good support. The real question is, is this going to be the final drop before the rally or there is more to come? Considering the higher time frame, I don't think this could be the final bottom. If at all, BTC drops for any reason, $15k could possibly be the last dropping level as per the weekly timeframe. This is something that is way too long. For now, $19.3k holds pretty good support for BTC and if it breaks below it then we can re-analyze the charts. I hope this update was helpful for you all. Trade safely.
BINANCE:BTCUSDShort
by Dexter_The_Trader
2
BITCOIN: CLOSE TO THE RESISTANCE.Hello and welcome all to the BTC update. Timeframe: 6 hours. Update: We saw a good 6% move on BTC yesterday which was indeed a good profit. BTC has once again surpassed the $20k price level but we still have the same problem to tackle and that is the resistance trendline. This time the resistance trendline is close to the $20.6k level which is a crucial point for BTC. It is good to see BTC making a jump like this but we also need to be careful with the rejection. Few reasons why we need to be careful: 1. This RSI is at the overbought zone and eventually, it has to go down which means BTC needs to show some correction. 2. Resistance trendline, BTC has been strongly getting rejected from the resistance trendline in the past and it could continue to do so. In an easy way, if BTC breaks out of the resistance trendline, things could go pretty well for the market. A rejection, on the other hand, could possibly be a drop toward the $19k. That's it for now. Trade safely.
COINBASE:BTCUSD
by Dexter_The_Trader
5
BITCOIN: HOLDING THE SUPPORT BUT UNABLE TO BREAKOUT.Hello traders, I hope your weekdays went well. BTC is once again to a point where it is holding the support but is unable to break out. For a reason, BTC is failing to break through the yellow-dotted trendline. Once we see a break out then we can expect BTC at $20.6k. On the bearish part, a rejection or a breakdown below the white support line may drop the price to the yellow dotted support line. I am still anxiously waiting for the break out keeping in mind the rejection possibility. Trade safely, guys. Happy weekends.
BITSTAMP:BTCUSD
by Dexter_The_Trader
2
BITCOIN: PEOPLE'S NOTION.The expectations are high for BTC and yet this underperformance is killing people's patience. You can say it by viewing all the memes and posts on social media. People are getting restless with this silent move on BTC. They are expecting an explosion but BTC is quiet. This is the basic problem of the herds, they want quick results, and they want everything fast and easy. Anyways, let's get back to the chart. Current scenario: BTC is still under the rising wedge pattern and it is close to the support level. Yesterday, we saw BTC getting rejected from the resistance, as shown in the chart and now the price is at the 21 MA support. If we see a bounce and a breakout above the yellow dotted line then we can expect BTC to rally close to $20.5k. If that's not the case then we can expect BTC to drop close to $18.8k. I just hope that this rising wedge won't turn into a falling wedge cause if that happens then it will mess up the entire chart and the market sentiment. I hope this idea was helpful for you all. Do show your love and support by liking this chart and clicking the follow button. I would love to see you on my team in the upcoming bull run. Trade safely and happy weekday.
BITSTAMP:BTCUSD
by Dexter_The_Trader
3
BITCOIN: A QUICK COMEBACK.Hello traders, I hope you all are doing good. There's a lot happening in the market today. In a lower timeframe, the market is completely messed up but in a higher timeframe, you can see a crystal clear scenario. Timeframe: 12 hours. Update: After the daily close, we saw a sudden drop of -5.45% ($19174 to $18131), and right after the drop, a quick comeback of 6% ($18131 to $19225). The drop helped some wise traders to get into BTC at around $18k. For quite some time, BTC has been following both the support and resistance trendline in a disciplined manner. We can expect BTC to reverse the trend but only if we see a breakout above the upper trendline i.e., at $20.2k. BTC still looks under control in this 12 hours chart and until & unless it is above the support level, we are good to go. Note: The 12 hours chart is completely different from the 3 hours or 4 hours chart. I hope this idea is helpful to you all. Trade safely.
Long
by Dexter_The_Trader
2