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BTCUSD :: Rebound Possible Ahead of Options ExpiryBTC/USD Technical Analysis The four-hour chart shows that the BTC/USD pair has been under pressure lately. The pair is trading at 47,615, which is lower than the chin of the double-top pattern at 49,418. It has also moved slightly below the 25-day and 50-day moving averages and is a few points above the key support at 46,000. It is also a few points below the 23.6% Fibonacci retracement level. Therefore, while the overall trend is bearish, there is a likelihood that the pair will rebound in the coming days after the options expiration. If this happens, the next key resistance to watch will be at 50,000. Bullish View Buy the BTC/USD pair and add a take-profit at 50,000. Add a stop-loss at 46,000. Timeline: 2 days. Bearish View Sell the BTC/USD and add a take-profit at 46,000. Add a stop-loss at 48,000. The BTC/USD pair remained under pressure on Thursday morning as demand for Bitcoin remained sluggish. The pair is trading at 47,615, which is about 10% below its highest level this week. Options Expiry It is unclear why Bitcoin has struggled in the past few days considering that American equities have been relatively strong in the past few days. The S&P 500 is trading at a record high while the Dow Jones is a few points below its all-time high. A possible reason is that investors are selling Bitcoin ahead of the options expiry that will happen on Friday. A total of 129,800 options contracts worth about $6 billion will expire. In most cases, Bitcoin tends to see some weakness ahead of expiration. This trend happens because of spot traders who try to push the spot price closer to the strike price. At this point, the highest number of open options usually expire worthlessly, which leads to max pain for options buyers. This point will be $48,000, which is slightly above the current level. Another possible reason for the current price action of the BTC/USD pair is that the low volume in the financial market is leading to substantial volatility. We have already seen some volatility in other markets, including the bond market. In addition, the BTC/USD pair is likely falling because of the Federal Reserve. The Fed has hinted that it will start to unwind its easy-money policies in the coming months. It will end its quantitative easing program in March and then implement three rate hikes in 2022. In most cases, risky assets like Bitcoin tend to underperform when the Fed has embraced a hawkish tone.
B
by SmoothJB
Bitcoin- The do or die moment and... I think the latterAs I said in my yesterday's Total Crypto Market analysis, I think is "bye-bye happiness" for crypto for the time being and, in my opinion, we are in a bear trend. Bitcoin has dropped yesterday around 5% confirming my bearish view and has stopped at 48k zone horizontal support. Considering the corrective structure of the 42-52 rise and the impossibility to hold gains above 50k, I believe we are very close to a new and aggressive leg down. At this moment we could have a small recovery for the price and this is a good opportunity for bears to sell short. Only back above 53k would deny this scenario
BITSTAMP:BTCUSDShort
by Mihai_Iacob
53
Bitcoin- Could drop to 40k zone againSince the recent low under 46k, Bitcoin has had 5 good days and the price has risen above 50k to a high at 52k, slightly under 15%. However, bulls could not hold the gains and, after a small range of consolidation above 50k, BtcUsd has dropped under this important figure again. Now the price is in 49-49500 support and a drop here would expose 46 recent low. More important is that if Bitcoin will break 46k confluence support the road is clear to the 40k zone and also would be a very bad sign for bulls in the future My strategy is to sell rallies above 50k and, as I said multiple times, only a sustained break above 53k would make me bullish
BITSTAMP:BTCUSDShort
by Mihai_Iacob
25
BTCUSD Long with 2 confluences List of confluences: With more to form in the coming days. 1: Daily chart key level, which shows the formation of a lower high. We would need a breakout and close above this level (51 967 USD) on the daily chart to confirm a change in market structure and the creation of a new high. 2: Inverse head and shoulder pattern formation on daily chart and H4 time frame. Its more visible on the H4 time frame. We expect visibility to increase on the daily chart in the coming days. Summary: When we look at the BTCUSD weekly chart, we can clearly see that BTC remains bullish. The manner in which price behaves in the next few weeks going into the new year will give an indication whether BTC is starting a bear market or remains bullish. Moving onto the daily chart, the trend is over extended remains bearish. We can see some buyers trying to enter the market, with the creation a lower high formed around the 7 and 8 of December. This shows possibility of the trend turning bullish, which would be in line with the trend on the weekly chart, making for some explosive moves to the upside. The target would be in the region of 68 100 dollars. Targets are set using fibs. We only looking to trade about 60 - 65% of the move with a decent risk reward as there is higher probability of our target getting reached. We do not want to stay in trades too long as anything can happen at any time
SAXO:BTCUSDLong
by NDOBObanks
BTC/USD Analysis: Bullish SequenceI wrote last Monday that the technical picture here had become more bearish, with the price dominated by a descending bearish trend line suppressing the price for more than one week. I foresaw lower prices as likely. However, I did think that the support level at $46,381 was likely to produce a firm bullish bounce if reached. I was correct to be bearish insofar as the price traded lower over most of the day, well into the New York session, before bouncing close to the support level at $46,381 and then rising ever since. I was on the right track as seeing that level as likely to be strong, although my call was not actionable for a long trade. The technical picture is considerably more bullish, as we have seen a succession of higher lows and higher highs over recent days. The technical feature which really stands out in the price chart below is the support level at $49,576 which looks very likely to hold if reached again, especially as it is confluent with the very major psychological round number at $50k. The problem bulls are facing is that although risk sentiment is quite good in the market right now, Bitcoin seems to be running out of steam in recent days as it gets close to the resistance level at $51,912. I do not want to take a short trade there as the dominant structure remains bullish. I am persuaded by the bullish case although I am not strongly bullish. I will take a long trade from any bullish bounce at either of the nearby support levels at $50,153 or $49,576 especially. Long Trade Ideas Long entry after a bullish price action reversal on the H1 timeframe following the next touch of $50,153, $49,576, or $48,111. Put the stop loss $100 below the local swing low. Move the stop loss to break even once the trade is $100 in profit by price. Remove 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to ride. Short Trade Ideas Short entry after a bearish price action reversal on the H1 timeframe following the next touch of $51,912 or $53,201 or $53,853. Put the stop loss $100 above the local swing high. Move the stop loss to break even once the trade is $100 in profit by price. Remove 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to ride.
BITSTAMP:BTCUSDLong
by SmoothJB
1
BTC/USDT 4HOUR UPDATEWelcome to this quick BTC /USDT analysis. I have tried my best to bring the best possible outcome in this chart. Hello friends. btc update told in the previous chart it could jump from $46000 to $49500 as it happened now I think btc will test again on 21ma from here to $49800 and from here btc from 58k to 65k again Could jump to 85k, take new all-time high Thank you Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
BTC/USD Forex Signal: Range-Bound with Bullish BiasBTC/USD Forecast The four-hour chart shows that the BTC/USD pair tilted higher in on Wednesday morning. Still, the pair is in the same range where it has been in the past few weeks. It has also formed a strong support at about 45,401. As you can see, the pair has struggled to move below that support level several times this month. The pair is slightly above the 25-day moving average and is slightly above the Ichimoku cloud. Therefore, the pair will likely keep rising as bulls target the key resistance at 50,000. Bullish View Buy the BTC/USD pair and set a take-profit at 50,000. Add a stop-loss at about 47,000. Timeline: 1-2 days. Bearish View Sell the BTC/USD and add a take-profit at 46,000. Add a stop-loss at 48,000. The BTC/USD price tilted higher in the overnight session as cryptocurrency prices bounced back. The pair is trading at 48,677, which is above the key support level at about 45,401. Other cryptocurrencies like Ethereum, Ripple, and Solana also jumped. Bitcoin Crawls Back The BTC/USD pair rose slightly as demand for Bitcoin rose. The jump coincided with the overall rally of other assets like stocks and commodities. The Dow Jones jumped by more than 500 points while the price of crude oil jumped by more than 2%. The jump happened as worries of the Omicron started to fade. Recently, most countries have been afraid of moving back to lockdowns. For example, the Biden administration announced measures to curb the illness that included the distribution of test kits. The BTC/USD pair rose as the hash rate continued rising. According to BTC.com, the hash rate jumped to about 173 EH/s. This is slightly below the highest level on record. The difficulty of mining has also jumped in the past few days, signalling that there is a huge demand for the coins. Still, Bitcoin remains about $20,000 below its all-time high. This performance is mostly because investors are afraid of the change of tone of key central banks. For example, the Federal Reserve has hinted that it will hike interest rates three times in 2022 while the Bank of England (BOE) has already started tightening. Despite the Omicron variant, analysts expect that most central banks will embrace a more hawkish tone in the coming year. Meanwhile, it seems like there is a strong demand for blockchain projects, which is a good thing for Bitcoin. For example, on Tuesday, a blockchain project known as Render announced that it had raised more than $30 million from investors. Blockchain projects have raised more than $25 billion from VCs this year.
BITSTAMP:BTCUSDLong
by SmoothJB
BTC could fall after having a hard time to test 50kI just closed down my long positions at BE, because price action on lower time frames indicate some more bearish movements. We still have that long wick since 4th of December and that bothers me a lot. Also despite the fact that in the past 24 hours 40 billion "new cash" converted into BTC, the big whales are still pulling out big money by the end of the year from the markets. If we look on higher time frames there is still a good chance for another leg down to 42k area. Just my 2 cents...
Short
by tomsabobiz
BTC could make a test of 50k before making any significant moveMy suggestion is that before the bears or the bulls would kick in, we can see a test of 50k area. Overall it looks bullish for the short term, but I think we still have a high chance to go all the way down to 42k area to these the weekly low of the long wick candle from the 4th of December. Hard to tell right now what could happen, but for now I think the trading volume is going to stay low until the end of the year, but as I said we could be "swimming" in a sideways channel, so a test of 50k could be a very easy move right now.
Long
by tomsabobiz