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Bitcoin- will it become bearish again?After January's low, Bitcoin has started to rise and even has broken above 45k resistance. However, this break has proven to be a false one and after a few days of consolidation above that level, the price has rolled back down under. Looking at the daily posted chart we can see that the rise is corrective in nature, lacks impulse, and is drawing a flag. Now the price is above 43k local resistance and a break here would expose the very important 40k confluence support. A break under 40k would be very bad for bulls and could signal further losses under the previous recent low and even under 30k. Only price back above 46k would change this outlook.
COINBASE:BTCUSDShort
by Mihai_Iacob
17
BITCOIN: IS IT GONNA DROP LIKE BEFORE?Hello traders, welcome to my new BTC update. For today's analysis, I am gonna use 12 hours chart to get a clear picture of BTC. 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. I guess we don't need a lot of explanation here. Looking at the higher timeframe chart, we can figure out where BTC is heading next. In a lower timeframe, BTC may fluctuate making long greens and red but in higher timeframes, looks like BTC is already sinking in. Currently, the support which is holding BTC is the $43k support level. If BTC manages to bounce back from this level then it still needs to break above the $44.6k to $45k resistance level. Further rejection will drop the price to another support level which is at $41k and in a worst-case scenario, the ultimate support level at $38k. That's it from my end. I will update more on this as the market changes its direction. Until then trade safely. Thank you.
BITSTAMP:BTCUSDShort
by Dexter_The_Trader
BTC UPDATE BTC / USD Unfortunately BTC lost 45k local support area and situation becomes critical But In macro view things are different we still have important levels for watching : First strong support 42k-40k the bulls should hold this area if we want to continue the current bullrun IMO if BTC failed to bounce and closed weekly below 40k then i will consider the last pumps as a trap and then we can test 37k-35k again (much support there + moving average) What do you think ..which pathway will BTC follow ? Don’t forget to like this idea for more analysis
BITSTAMP:BTCUSD
by Babenski
36
#BTCUSDT 80K Incoming!!! Brace yourselves...Welcome to this short update on Bitcoin. Reasons to Follow me? *9 Years in Trading! *7 years in Crypto *Certified Technical Analyst *Record Holder of Most liked Bitcoin Chart on Tradingview. *Consistent updates on Markets and Trade Setups *No Bias *All-time Top Author on various assets and index charts globally. *Very Active Community during both bull and Bear Market Let's get to the chart! BTC looks good here and here are the reasons why BTC is likely to break the previous ATH. 1. BTC held the $33k level which is the lower support bottom for BTC 2. BTC is currently holding the $21MA daily, 3. Increase in BTC holders in the long term has reached ATH recently. 4. BTC is holding the 50 DMA level. 5. USDT Dominance is showing signs of bearishness. 6. TOTAL MARKET CAP is bullish. 7. Fractals are showing signs of a possible rally. 8. To complete the pattern BTC needs to print a third top which will eventually make a triple top pattern in higher time frame charts. 9. BTC needed a retest after the $42k breakout and it's happened followed by a strong bounce. Based on these reasons there's a high possibility that BTC will reach a new ATH in the next few weeks. TRIGGER POINT FOR THE RALLY:- Break and close above the 200D MA. INVALIDATION:- Break and close below the 30k- 33k support. *This is not financial advice., this is just what I see in the charts. Let me know your thoughts do hit the like button if you like this idea and share your views in the comment section. Thank you #PEACE
Long
by Cryptorphic
19
BITCOIN AT $47K RESISTANCE.Hello people, welcome to this quick update on BTC. If you are viewing my ideas for the first time then I request you to click the follow button for more interesting updates. BTC bounced back from the $44.6k support level and it is currently facing resistance at $47k. In order to rally higher, BTC must get rid of $47k and $48k resistance levels. If BTC breaks through these resistance levels then $52k will be the next target. This means the USDT Dominance will break down its 3.77% strong support level. If at all BTC breaks down then $44.6k will still hold as support for BTC. Altcoins on the other hand stood strong during the retracement. Looks like April 2022 (the beginning of the 2nd quarter) will be good for the market. I will update more on this until then stay in touch and trade safely.
COINBASE:BTCUSDLong
by Dexter_The_Trader
3