Btcusdlong
Bitcoin in a bull flag.Bitcoin - 24h expiry - We look to Buy a break of 30606 (stop at 29806)
Price action is forming a bullish flag which has a bias to break to the upside.
Daily signals are bullish.
There is no clear indication that the upward move is coming to an end.
30532 has been pivotal.
A break of the recent high at 30532 should result in a further move higher.
Our profit targets will be 32606 and 32906
Resistance: 30532 / 31000 / 31500
Support: 30000 / 29670 / 29000
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BITCOIN parallel channel and more range 📖💡Hello 🐋
if
the price doesn't break the resistance zone to the upside, we will see more correction, at least to our lower trend line ❌🧨
otherwise
we can see more gain to upper resistance level ✔️🚀
if
breakout of the lower support zone be completed, we can see more correction to the downside ❌🧨
👌 Notice: pay attention to the price on shortcut chart (located above the main chart with black colour) 📖💡
Please, feel free to share your point of view, write it in the comments below, thanks 🐋
BTC Dominance ready for a strong bounceBTC Dominance is currently sitting on the strong support and seems to be ready for a strong bounce. RSI currently oversold on daily timeframe.
It would make a lot of sense as we still expect alts to drop 50 % which most likely will happen if BTC dominance bounce from this key support.
From another hand, if BTC.D breaks down, we may see an alt season and some really nice gain. However, this scenario in our opinion is less likely . We also expect that ETH merge will be a sell event which may trigger the drop in value for other alts too. Be ready for a bloodbath.
If BTC.D bounces from the key support , we expect it to reach the upper boundary of the range and BTC.D would be at approx. 48 %
BTC:Can challenge 30,000Despite the US dollar and risk appetite favoring Bitcoin (BTC) last week, BTC failed to continue the strong upward trend of the previous week and entered a high-level oscillation. Technically, this week's focus is on the direction of Bitcoin breaking through the oscillation range.
Bitcoin (BTC) falls into high-level oscillation amidst mixed bullish and bearish factors
The Federal Reserve's interest rate decision last week met expectations with a 25 basis point increase, and the policy guidance changed from "expect to continue raising interest rates" to "expect additional policy reinforcement", which made the US dollar even weaker due to the dovish shift. However, the policy statement also emphasized the uncertainty brought by recent banking crises, coupled with Treasury Secretary Yellen's statement that "not considering providing insurance for all uninsured deposits", causing risk appetite to cool significantly that day and BTC's pullback from its intraday high point to exceed 7% at one point.
However, the next day, BTC's price rebounded due to Treasury Secretary Yellen's reversal, stating that the federal government will take additional measures to stabilize the US banking system when necessary. Market risk appetite received a boost, and BTC rebounded and recovered the previous day's decline on Thursday.
Following that, BTC staged a high-rise and fall on Friday. During the European session that day, the plummeting of Deutsche Bank's stock price reignited market panic. However, during the US session, the ECB President and German Chancellor came forward to calm the market, and the rebound in risk appetite drove the price of BTC to rebound, reaching a recent high of $29,380 per coin. However, the rally was short-lived, and the trend quickly gave up gains and turned downward, closing down 3% that day.
The US dollar index fell 0.72% last week, and the S&P 500 index rose 1.4%. Overall, the traditional financial market environment generally supports the trend of BTC. However, BTC's performance is not outstanding, which may be related to the US official attitude. The US White House stated in last week's "President's Economic Report" that cryptocurrencies are mainly speculative investment tools and have not brought any benefits, and cryptocurrencies generally cannot function as currency like sovereign currencies.
Bitcoin (BTC) trend technical analysis: focus on the oscillation range
The four-hour chart shows that the price trend of Bitcoin (BTC) is in a high-level oscillation, and subsequent attention is paid to the direction of breaking through the range. On the upside, the 28,500-29,000 range is the top resistance of the range. If it can be broken, it will open up further upward space and may challenge the 30,000 mark. On the downside, the support below focuses on the 26,700-27,200 range. If it falls below, it will face further downward space.
Higher Low RSI Set Up on BTCHigher Low RSI Set Up on BTC .
We have to visit an area that we climbed too fast. I believe it will occur at RSI when we will visit.
Rsi going lower when price going higher is a bullish set-up.
Price can move up without putting any lower low when this happens.
I believe 27.500 then 29000 will come.
BTCUSD Ascending TriangleIn BTC, the pulse of the market is measured by continuous movements. When we look at Binance, short positions show weight. From here, we can conclude that the result of this horizontal movement can be upward with at least a 60% probability. There is a gap on the futures side around 35K, but there is also a gap at the 69K level after the 31K drop, and this will need to be filled. Also, a rising triangle formation has formed in btc, and if an upward break comes, it shows us the 31,060 level, which I don't think is exactly a coincidence. In case of relegation, it also shows us the level of 25.229.
Bollinger has a good tip. I mentioned on the chart that a purple uptrend has formed in btc. This point is currently at the same level as the central band for 4 hours. So we can see a retreat from here. This retreat shows us 27,916 for the moment. There is no other situation than this. There is no need to mention it on a daily basis, because the middle bollinger band remained at 24,092, I don't know if we will see a sudden pullback with the fed decision tonight.
On the EMA side, the EMA 20 managed to rise to about 27,831. We may see a retreat or at least a needle towards here, but I don't think so. It will continue to move slightly horizontally, so that the EMA 50 level will sit above the rising trend of 16,961 and provide a better area for testing. The EMA 50 level is currently showing 26.577.
Unfortunately, I can't comment on the RSI side because it is connected to the constant and does not give a signal. We can say that the incompatibility in the RSI does not work. if the 28.279 resistance is broken, the RSI can support the rise by giving an upward direction.
MACD supports the situation I mentioned above. The red candles tell us that the market has not strengthened too much in the negative direction and the signal lines have not fallen below 0. With a single hard move, it can give us a strong purchase signal. Otherwise, the weak selling signal will continue on the MACD side.
We are on an important day for leveraged traders, the FED Interest Rate decision will be announced at 21.00 in the evening. The expectation is that 25. on the side, our famous lawyer Jerome Powell will make a statement later. if it increases by 50 points, we may see a sharp decline. If 25 Points are announced, it can continue on its way after a slight retreat, I interpret the slight retreat here as 26.380. if he declares it as 0, the festive mood will start and BTC will continue its way with Dominance support. November altcoins will be suppressed a little if I mean by dominance support it will continue with money inflow and if this happens November altcoins will be suppressed a little. There is no problem here, it always happens on the ascents.
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BTCUSD Daily Timeframe Price Action Levels&AnalysisHi,
My latest analysis of Bitcoin, conducted on March 18, 2023 , focuses on a Weekly Timeframe Analysis and includes experimental resistance levels. As of March 21, Bitcoin has managed to stay above the critical support level of $26,309 but is encountering difficulty surpassing the $28,570 level. Upon examining the chart, you will notice that the price is inching closer to the Untested Supply area. This suggests that buyers may push the price higher, potentially facing increased selling pressure that could trap late longs within this zone.
In light of this potential price action, those with long positions should consider taking profits if they have not already done so once the price enters this supply zone, marked by a red box on the chart. As a protective measure, traders can move their stop-loss levels to nearby swing lows.
From a high time frame perspective, the market structure is not bearish as long as the price closes above $20,700. However, from a low time frame perspective, a close below the $26,309 level warrants attention. The nearest support levels are around $24,600 , as shown by a small grey box on the chart, with the following critical level situated near $22,675 . It is crucial to closely observe price action, particularly if the price closes below the small grey box.
This analysis is for educational and entertainment purposes only and not investment advice. Trading cryptocurrencies involves high risk and volatility and may result in substantial losses or gains depending on various factors such as market conditions, news events, technical indicators, etc.. Always do your own research before making any trading decisions and never invest more than you can afford to lose.
You can also check other analyses I've published earlier from my profile. Have a nice day!