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Bitcoin - Bear market rally top?Over the past few weeks, worsening economic data led to widespread speculation about the FED backtracking on its promises, leading to buying spree fueled mainly by retail investors calling for the market bottom and trend reversal. Despite mounting bullish calls, we stuck to a bearish outlook for the medium-term and long-term while pointing to a bear market rally in the short-term. Recently, technical indicators started to show severe signs of exhaustion, with shallow volume accompanying new highs. This development suggests fewer market participants are willing to buy at current high prices, which is an ominous warning sign. Each breakout above the resistance at 24 280 USD was quickly invalidated. Additionally, RSI, MACD, and Stochastic are overbought on the daily time frame, potentially suggesting the top of the bear market rally. As for the medium and long term, we have no reason to change our bearish outlook due to fundamental factors like higher interest rates, economic tightening, slowing global economy, and regulatory threats. Because of that, our medium-term price target is 17 500 USD, and our long-term price target is 15 000 USD. Illustration 1.01 The picture above shows the setup we introduced (and kept updating) early in the bear market rally. Yellow arrows indicate bullish breakouts and the recent invalidation. Red arrows indicate volume declines accompanying bullish breakouts. Technical analysis - daily time frame RSI is overbought. MACD is flattening. Stochastic is bearish. DM+ and DM- are bullish. Overall, the daily time frame is neutral/slightly bearish. Illustration 1.02 Many analysts argue that BTCUSD has bottomed out. However, Illustration 1.02 shows that even a bounce of such magnitude as +40% is nothing uncommon. For example, in February 2018, during the bear market rally, Bitcoin gained over 98% within a mere month. Technical analysis - weekly time frame RSI is flattening. MACD and Stochastic are bullish but still in the bearish zone. DM+ and DM- stay bearish. Overall, the weekly time frame is neutral. Illustration 1.03 The picture above shows further evidence of a gradual decline in volume. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
27
Ethereum - Raging bull market?! Is it, really?!In our previous idea, we argued Ethereum reached a potential top of the bear market rally. However, we remain cautious until we see more signs to confirm our assessment. Our view is based upon bearish fundamental factors that will persist throughout 2022 and 2023, dragging the global economy into recession and causing risk-off sentiment. In our opinion, the drying up liquidity in the cryptocurrency market suggests trouble ahead, with volumes being low compared to where they were during previous bull markets. Additionally, several technical indicators flash overbought conditions for ETHUSD. As if it was not enough, the market sentiment reflects raging “bull market euphoria” among retail investors, with many forgetting how deceitful bear market rallies tend to be. Mounting calls for the trend reversal, and new ATH point to the classic irrationality of market participants during such periods. These developments worry us and, indeed, they lead us to speculate that the looming selloff will have extreme nature. Therefore, we maintain a bearish outlook on Ethereum. Accordingly, we stick to our price target of 1 000 USD. Illustration 1.01 The picture above shows the daily chart of ETHUSD. The red arrow indicates a gradual decline in volume over the past three days. To confirm our previous assessment about the potential top, we would like to see a build-up in volume accompanying a price decline. So far, we have not seen that. Another development we would like to see is a breakout below the sloping support and the immediate support. That would bolster a bearish case for Ethereum. Technical analysis - daily time frame RSI crossed below 70 points, which is bearish; however, it is turning neutral. MACD is due to perform a bearish crossover. Stochastic is bearish. DM+ and DM- are bearish. Overall, the daily time frame is neutral/slightly bearish. Illustration 1.02 Illustration 1.02 shows the magnitude of bear market rallies during the bear market of 2018. Technical analysis - weekly time frame Stochastic is bullish. RSI is flattening. MACD is bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. Illustration 1.03 The setup we introduced in the previous idea remains valid. 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.
BITSTAMP:ETHUSDShort
by Tradersweekly
23
Coin forming a base? Coinbase Short Term We look to Buy at 84.07 (stop at 66.49) Price action looks to be forming a bottom. Price action looks to be forming a bullish flag/pennant. Dips continue to attract buyers. Further upside is expected although we prefer to set longs at our bespoke support levels at 80.00, resulting in improved risk/reward. Expect trading to remain mixed and volatile. Our profit targets will be 148.88 and 159.10 Resistance: 115.00 / 150.12 / 206.00 Support: 80.00 / 50.34 / 44.15 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:COINLong
by Saxo
Bitcoin - The ultimate warning!In yet another perplexing move, cryptocurrencies jumped higher after yesterday's CPI print in the United States. Better than expected results sparked a wave of buying among retail investors pumping the price of Bitcoin above the immediate support/resistance and simultaneously into the bullish zone. However, we think this recent move perfectly shows how irrational markets can become despite mounting evidence that the world will be driven into a deeper recession toward the end of 2022. In our opinion, the narrative that the FED will step in, cut interest rates and start printing money to avoid recession is wrong. Indeed, we think this narrative is one of the leading causes of the current rally (with technical factors also strongly contributing). Unfortunately, we believe the FED is left with no choice but to increase interest rates to fight inflation. However, by doing that, the FED will risk causing more systemic problems in the stock and cryptocurrency markets. Therefore, we stick to our bearish outlook when looking beyond the rally. Accordingly, we maintain a medium-term price target of 17 500 USD and a long-term price target of 15 000 USD. For the short-term, we are looking at 26 500 USD with the invalidation level at 24 280 USD. Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD and the trade setup we introduced recently. Simple support and resistance lines are derived from prior peaks and troughs. The yellow arrow indicates the bullish breakout. We stick to our previous assessment of the upside for Bitcoin, which is 26 500 USD in the short term (invalidated if a retracement occurs); however, we will again pay close attention to volume levels. Technical analysis - daily time frame RSI, Stochastic, and MACD turned bullish. However, they show exhaustion, which may imply the ultimate bull trap above the immediate support/resistance. DM+ and DM- are bullish. Overall, the daily time frame turned bullish. Despite that, we voice caution. Illustration 1.02 The picture above shows previous and current bear market rallies. The magnitude of moves is measured from the low to the high. The current rally falls into the range of the earlier downtrend corrections. Technical analysis - weekly time frame RSI, MACD, and Stochastic are slightly bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral/slightly bullish. Illustration 1.03 The illustration above shows previous bullish breakouts and what happened to volume after they occurred. For the bearish scenario and invalidation of the breakout, ideally, we would like to see the same development occur this time again. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
51
Bitcoin - Brace for another 30% decline!Over the past week, the situation in the cryptocurrency market has not changed much. The price of Bitcoin continued to be choppy, trading mostly between 22 000 USD and 24 000 USD. The inability of BTCUSD to break above the immediate resistance hints at even more weakening bullish momentum. Indeed, the same is implied by several technical indicators and the presence of low volume. In addition to that, bearish fundamental factors continue to persist. We view higher interest rates and economic tightening as two main elements driving the U.S. economy into a deeper recession toward the end of 2022, and during 2023. Since such periods are accompanied by risk-off sentiment, we expect this to negatively affect the price of BTC, resulting in a new low over time. Therefore, we still maintain a bearish view on Bitcoin with the price target of 17 500 USD, which is our medium-term price target. However, today, we would also like to set a new long-term price target at 15 000 USD. Illustration 1.01 The illustration above shows the daily chart of BTCUSD during the downtrend in 2017/2018. Bear market rallies are indicated by green dashed lines. The picture illustrates how big moves up can occur during the bear market rally when people flock into the market chasing the asset because of so-called “FOMO - fear of missing out”. As we previously stated, Bitcoin is up approximately 40% from its lows, however, it does not mean that the trend of higher degree has changed to bullish. Technical analysis - daily time frame RSI is neutral. MACD lost momentum and strives to reverse to the downside. Stochastic turned bearish. DM+ and DM- are bullish, however, the trend is very weak. Overall, the daily time frame is neutral. Illustration 1.02 Due to the choppy price action of BTCUSD, the setup we introduced recently remains valid. Technical analysis - weekly time frame RSI, MACD, and Stochastic are neutral. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
18
Bitcoin - Investors continue their chase for the higher priceSince its lows on 18 June 2022, Bitcoin has risen approximately 40%. However, despite that, we remain committed to our bearish stance, which is mainly affected by persisting fundamental factors that will continue to weigh on the cryptocurrency market for the rest of 2022 and 2023. Despite that, the current trade setup still allows for a further price rise in the short-term; especially, if Bitcoin breaks above the immediate resistance. Under such conditions, we would see the upside up to 26 500 USD, and in an extreme scenario near 32 500US; which remains consistent with what we stated already several weeks ago. In regard to our price target, it stays at 17 500 USD. Illustration 1.01 Illustration 1.01 shows the upward sloping channel, which many analysts say is bullish and indicative of the trend reversal. However, in our opinion, there are several warning signs on the chart. First, volume declines throughout the structure. Second, each breakout above the immediate resistance was followed by strong selling pressure. Third, overall volume levels remain very low. Technical analysis - daily time frame RSI and MACD are neutral/slightly bullish. Stochastic is bullish. DM+ and DM- are bullish. Overall, the daily time frame is neutral/slightly bullish. Illustration 1.02 The setup which we introduced previously remains valid; that is mainly due to the choppy price action of Bitcoin, which continues to oscillate within the wide range with occasional breakouts above it. Technical analysis - weekly time frame RSI and Stochastic are slightly bullish. MACD performed bullish crossover, however, it stays in the bearish area. DM+ and DM- are bearish. Overall, the weekly time frame is neutral/slightly bullish. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
27
Coinbase: returning to key supportCoinbase Short Term We look to Sell at 63.59 (stop at 70.72) The primary trend remains bearish. We are assessed to be in a corrective mode higher. A move higher faces tough resistance and we remain cautious on upside potential. Preferred trade is to sell into rallies. Trading volume is decreasing. Our profit targets will be 45.94 and 41.01 Resistance: 63.00 / 78.00 / 163.00 Support: 53.00 / 50.00 / 46.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:COINShort
by Saxo
1
Bitcoin Set to Hit 17k - August 2022Hi Bitcoin Lovers, What are my reasons for using such a bogus title? 1. Bearish forces have aligned and confirmed on D1 TF which will first of all drive price to 21224 level, retest 22735 zone and drive through 20777, 18934 and possibly 17125 area. Strategy Applied: Bearish Force 2. Exception:- If we fail to hit 20777 level, price should shoot up to 28541 / 32000 zone within the month. Strategy Applied: Wick Fill Let me know what you think in the comment section. Join me today during live GER30/EURUSD trading session here on TradingView (13:00 GST) and ask me your questions on my trading strategies. See you!!! Yours, Kings
COINBASE:BTCUSD
by Kingsley_lotanna
Bitcoin - The sucker's rally nears its endWe made a case for the ultimate bear market rally just a few weeks ago. We also said the rally's erratic movements would suck many people into believing the market has formed the bottom and reversed to the upside. Indeed, that is exactly what we currently see in the market. Mounting calls for sky-high prices, guarantees of the bottom, and fear of missing out highlight retail's bullish sentiment. Meanwhile, the institutional side of the market continues to show systemic cracks, with many companies going bust amid crypto winter. The list of affected companies and concise description: 1. Voyager (bankrupt) - defaulted on $350 million in the U.S. dollar-pegged stablecoin, USDC, and 15,250 bitcoin. 2. Zipmex (bankrupt) 3. 3 Arrow Capital (bankrupt) - filed for bankruptcy and founders went missing. 4. Celsius Network (bankrupt) - went bankrupt after freezing over 151 000 Bitcoins locked away from its 1.7 million users. 5. CoinFlex - (limited withdrawals) 6. SkyBridge Capital - cryptocurrency fund (suspended withdrawals) 7. Coinbase (investigated by the SEC) - probed over the issuance of securities and insider trading. 8. Binance (investigated by the SEC) - probed over Tether stablecoin and insider trading. In addition to that, tighter monetary policy continues to pressure the U.S. economy, to which cryptocurrencies are highly correlated. As a result, we think it is just a matter of time until the market starts to manifest weakness again and drag the price of Bitcoin and other cryptocurrencies lower. Because of that, we are very cautious and looking for weakening signs in BTCUSD. On the endnote, our medium-term and long-term outlook stays bearish. Due to that, we would like to set a price target for BTCUSD at 17 500 USD. Illustration 1.01 Illustration 1.01 shows the total cryptocurrency market cap. It is far below its all-time high value, approximately 63% from it. The list of affected cryptocurrencies Luna - stablecoin (-99%) CEL - cryptocurrency (-84%) Cardano - cryptocurrency (-82%) BNB - cryptocurrency (-57%) XRP - cryptocurrency (-79%) BTC - cryptocurrency (-64%) ETH - cryptocurrency (-65%) SOL - cryptocurrency (-82%) Dogecoin - meme coin (-90%) Polkadot - cryptocurrency (-84%) Matic/Polygon - cryptocurrency (-72%) *The list shows values from 30th July 2022. Declines are measured from all-time-high values. Technical analysis - daily time frame RSI is neutral. MACD is flattening. Stochastic points to the downside. DM+ and DM- are bullish, but the trend is weak or neutral. Overall, the daily time frame is neutral. Illustration 1.02 The setup above we introduced several weeks ago; it still remains valid. Volume continues to support our thesis that buyers are harder to find between 22 000 and 24 000 USD. Although, it is possible that the price can continue a bit higher (especially at low volume). Technical analysis - weekly time frame RSI and MACD are neutral. Stochastic is slightly bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
37
Bitcoin - Deceitful rally Despite yesterday's move up in Bitcoin, we remain very skeptical about the prospect of rally continuation. That is mainly due to the FED moving toward a more hawkish stance in regard to its monetary policy. Indeed, now, it projects another 75bps rate hike for September 2022. As a result, we expect this to negatively affect the U.S. economy as well as the cryptocurrency market. Due to the persistence of these bearish fundamental factors, we have no reason to change our medium-term and long-term assessment of BTCUSD. Illustration 1.01 Illustration 1.01 shows the trade setup we introduced recently; it consists of two alternative scenarios. Additionally, there are several technical developments displayed on the chart. The bullish trigger occurred when the price moved above 21 868 USD. Despite that, we are skeptical about this move. We are looking for the bearish trigger, which will take place once 21 868 USD is retraced to the downside. Low volume after the most recent breakout hints at a declining number of buyers between 22 000 USD and 24 000 USD. Technical analysis - daily time frame MACD, Stochastic, and RSI all show signs of stalling. DM+ and DM- are bullish; however, ADX contains a relatively low value. Overall, the daily time frame is neutral. Technical analysis - weekly time frame RSI is bullish. MACD is neutral. Stochastic is bullish but stays in the lower zone. DM+ and DM- remain bearish. Overall, the weekly time frame sends mixed signals. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
124
Bitcoin - Rip or dip The setup we introduced recently remains valid. We will have our eyes on the FOMC meeting today. We expect volatility to be elevated throughout the day. We will update the idea after the FED decision. Our thoughts are detailed in the attached ideas. Technical analysis - daily time frame RSI paused its fall and became neutral. MACD is also neutral. Stochastic is bearish. DM+ and DM- are also bearish. Overall, the daily time frame is bearish. Illustration 1.01 We showed the chart above before. Structurally, Bitcoin continues to develop like during prior corrections of the current downtrend. Technical analysis - weekly time frame RSI strives to reverse to the downside. MACD is neutral. Stochastic is bearish. DM+ and DM- are bearish. Overall, the weekly time frame is bearish. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
32
Bitcoin - Does turbulence lie ahead? In the past few weeks, we reiterated our lack of belief in the trend reversal in Bitcoin. We said the price bounce would be temporary and that it was too premature to call the bottom. Additionally, we stuck to a short-term bullish call and medium/long-term bearish call. Furthermore, we also hinted at signs of weakness that led to the inability of BTCUSD to continue higher. Among these developments, we also hinted at structural problems in the cryptocurrency market. These also remain today with the latest addition of Coinbase to troubled companies in the sector (due to alleged investigation). Threats from higher interest rates, economic tightening, and global recession also continue to persist. With these new developments in the market, we turned bearish on Bitcoin in the short term. That is mainly due to Bitcoin retracing below 21 868 USD. We said that such development would be bearish in the setup we introduced in our latest idea. Accordingly, we stick to what we said. However, if the immediate resistance/support is broken to the upside, it will cause us to turn bullish again. Because of that, tight stop-losses should accompany trade entries. *The FED meeting is scheduled for Wednesday. We will be very cautious as the FED is expected to raise interest rates and further worsen economic conditions.* Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD. It also shows the downward sloping channel. The upper bound connects two peaks and acts as the resistance; meanwhile, the lower bound is parallel to the upper bound and acts as the support. Technical analysis - daily time frame RSI and Stochastic turned bearish. DM+ and DM- performed bearish crossover. The MACD is neutral. The ADX contains a relatively low value which hints at a weak trend. Overall, the daily time frame is bearish. Illustration 1.02 Recently, we hinted at the presence of low volume accompanying the breakout above 21 868 USD price tag. We noted that this was a sign of weakness, and if the volume stayed insufficient, then the market was due to reverse abruptly. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
26
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubGood weekend, As usual, here is our analysis of the week looking at a glance at the daily chart of BINANCE:BTCUSDT using the Ichimoku Kinko Hyo indicator with traditional settings. We used in support other indicators that we developed and released Open Source, you can find them at the end of the analysis. Trend: Kumo has been red for 91 days and is stable (now at about 21%). The situation is always uncertain but mainly sideways on the medium to long term. Senkou Span B and Kijun are flat, indicating a sideways moment in the downtrend. The price continues to be above the Kijun, but it is still below the Kumo and below the important level of 22500.00. The Kijun Trend indicator continues to indicate looking for long positions, even though the Kijun is flat. Price continues to be very close to the Kijun and may make contact with the Kumo shortly. Heikin-Ashi: For the week the Heikin-Ashi indicates a change in trend for the past week that allowed the Kijun to break through and is now on the Tenkan. Supports and resistances: - 25000.00 from Fibonacci - 22400.00-22600.00 Chikou cusp level or flat zones of Kijun and Tenkan - 20200.00 Chikou cusp level or flat zones of Kijun and Tenkan - 20000.00 psychological threshold - 19100.00-18900.00 Chikou cusp level or flat zones of Kijun and Tenkan - 12700.00 from the waves of Hosoda - 11000.00-13000.00 Chikou cusp level or flat zones of Kijun and Tenkan For the various static price structures you can refer to the chart where the structures identified by the flat moments of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes are plotted, also Chikou price for the daily time frame. Also, recall that the various Ichimoku lines serve as dynamic price structures: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term). Fibonacci: The Fibonacci levels on the Daily still show us positive long-term sentiment and places the 0 upside on 75000.00. Price is still below the 1 level, should it stay it will update accordingly. Conclusion: BTC shows a bullish trend on the short term, but the situation is rather uncertain. There are important levels to overcome such as 22400.00-22600.00 and the Kumo itself. The well known exponential moving averages often used in the Crypto market on the 200, 50 and 20 periods are aligned in downtrend but still the price is exceeding the 200. The Kijun trend is indicative of looking for long positions, but the Hosoda waves continue to indicate downtrend targets even though the V and NT targets are rising from last week: - V/NT: 12600.00 - N: 7750.00 - E: 2845.00 It is important to assess the close of the week and during the week on the following price structures: - Bullish/Lateral: 22400.00-22600.00 - Bearish: 20000.00-20700.00 Altcoin Cycle: For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation: - Total cryptocurrency market capital: Increased. - BTC Dominance: Decreased. - Price of BTC: Decreased. - Alt cycle expectation: Stable. Thanks for your attention, happy to support the TradingView community. Indicators used: Analysis Tool Kijun Trend Indicator Ichimoku Support and Resistance Chikou Support and Resistance
by TheSocialCryptoClub
Coinbase - More downside is likelyThe downtrend in cryptocurrencies supports a bearish view on Coinbase, which is currently down more than 80% since it started to float on the public stock market just a few months ago. In our opinion, the company will continue to lose its value in the short-term and medium-term. Indeed, we think the recent fallout with the Luna stablecoin token and Celsius network will have a contagious effect that will eventually catch up with other industry giants and possibly also Coinbase. Due to that, we would like to set the price target for Coinbase at 50 USD. Illustration 1.01 The picture above shows Coinbase stock trading within the wide range; interesting is that this trading range is structurally similar to the range observable in the price of Bitcoin and other cryptocurrencies. Technical analysis - daily time frame RSI, MACD, and Stochastic are slightly bullish. DM+ and DM- are neutral. Overall, the daily time frame is slightly bullish/neutral. Illustration 1.02 Illustration 1.02 portrays similarities between the price action of BTCUSD and Coinbase. Technical analysis - weekly time frame RSI and Stochastic are bearish. MACD is neutral . DM+ and DM- are bearish. Overall, the weekly time frame is bearish. 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.
NASDAQ:COINShort
by Tradersweekly
23
Bitcoin - The trend turns neutralOver the past month, Bitcoin lost much of its bearish momentum; indeed, it became stuck within the wide range, oscillating from one side to another. Because of the trend turning neutral we were forced to abandon our price targets for the 2nd time. Currently, we stay out of the market and decide to observe it for a while before running to new conclusions. However, we have to note that fundamental bearish factors have not changed. The prospect of higher interest rates, economic tightening, and global crisis continue to threaten the cryptocurrency market. Because of that, we still think there is a high likelihood for BTCUSD to make a new low in 2022. Although, despite that, we think the general stock market and cryptocurrency sector might be positioning themselves for the significant bear market rally. At the moment, the upside potential for BTCUSD is near 24 000 USD, which coincides with the 50-day SMA. Meanwhile, the downside potential for BTCUSD in 2022 is near its recent lows. Illustration 1.01 Two moving averages, 20-day SMA and 50-day SMA, still reflect the bearish trend. However, the 20-day SMA started to move sideways recently, hinting at loss of momentum and trend neutrality. Technical analysis - daily time frame Stochastic is neutral. MACD and RSI are bullish. DM+ and DM- are neutral. Overall, the daily time frame is neutral. Illustration 1.02 Two moving averages, 20-week SMA and 50-week SMA, continue to suggest the presence of the bearish trend. However, the daily time frame hints at the trend turning neutral (in short-term/medium-term). Additionally, the cool-off in selling pressure is indicated by low volume. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+ and DM- remain bearish. Overall, the weekly time frame stays bearish; however, it is less bearish than a week ago. 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.
BITSTAMP:BTCUSDLong
by Tradersweekly
14
Ethereum - Bullish calls are falseWe maintain a bearish outlook on Ethereum. Accordingly, we also maintain our price targets of 900 USD and 800 USD. We have no reason to change our bias due to persistence of bearish fundamental and technical factors, which we detailed in our previous posts on ETHUSD. Illustration 1.01 The picture above shows the weekly chart of ETHUSD. Two moving averages, 20-week SMA and 50-week SMA, continue to confirm the medium-term/long-term bearish trend. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 The picture above shows simple support and resistance levels for ETHUSD. Technical analysis - weekly time frame The weekly time frame coincides with the daily time frame. RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. 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.
COINBASE:ETHUSDShort
by Tradersweekly
8
Bitcoin - Do not get fooled by bullish callsPersistence of bearish fundamental factors continues to support our bearish view on the cryptocurrency market. We expect more rate hikes (by the FED) and economic tightening to bolster the selloff in the general stock market. Subsequently, we expect that to drag the price of Bitcoin to new lows. The same picture is painted by technical factors, which point to more downside for Bitcoin. Accordingly, we maintain our price targets of 17 500 USD and 15 000 USD. Illustration 1.01 The chart depicts Bitcoin trading at 2018 price level. The upper yellow dashed line connects peaks; the lower yellow dashed line is parallel to the upper line. Corrections of the downtrend are indicated by yellow arrows; it is observable that prior pauses in the selling pressure were followed by sideways moving price action. Subsequently, that was followed by a new low in the price of Bitcoin. At the moment, we observe the same development on the daily chart. Technical analysis - daily time frame RSI, Stochastic, DM+, DM- are all bearish. The MACD flattens. Overall, the daily time frame is bearish. Illustration 1.02 The picture above shows simple support and resistance levels for BTCUSD. Technical analysis - weekly time frame RSI, Stochastic, MACD, DM+, DM- are all bearish. Overall, the weekly time frame remains bearish. Illustration 1.03 The chart above shows the price of BTCUSD and volume. It can be seen that volume is at monthly lows over the past ten years. Although, in the past three months, as selloff progressed, volume picked up a little bit. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
64
Bitcoin - Still no sight of the uptrend Since the last Friday, Bitcoin rose about 600 USD to approximately 20 200 USD, where it currently trades. Nevertheless, we maintain a grim view of Bitcoin, mainly due to the persistence of bearish fundamental and technical factors. Accordingly, we stick to our price targets at 17 500 USD and 15 000 USD. Although, we would like to acknowledge that Bitcoin might continue to be choppy for a little longer before regaining momentum to the downside. Illustration 1.01 The daily chart of BTCUSD shows retracements toward 20-day SMA. These retracements act as corrections of the downtrend. Therefore, we will pay close attention to the ability of the price to stay above/below the 20-day SMA (above is bullish, below is bearish). If the price holds above the SMA for an extended period, that may imply another price increase before the breakdown. Technical analysis - daily time frame RSI exited the oversold zone, which is slightly bullish. Stochastic is neutral. MACD is slightly bullish; however, it remains in the bearish area. DM+ and DM- remain bearish. Overall, the daily time frame is neutral. Illustration 1.02 The chart shows simple support and resistance levels for BTCUSD. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
18
Bitcoin - The inability to hold gains hints at fragile marketOvernight, we saw a short-lived bounce in the price of Bitcoin to 20 895.08 USD. Within a few hours, BTCUSD gave up most of its early gains and plunged below 19 500 USD, where it currently trades. We continue to be bearish on BTCUSD. Accordingly, we maintain our price targets at 17 500 USD and 15 000 USD. Illustration 1.01 The picture shows an overnight correction of the downtrend, represented by natural price retracement toward the 20-day SMA. Technical analysis - daily time frame RSI, Stochastic, MACD, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 Since 26th June 2022, the volume is again on the rise; that is bearish. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame has not changed and remains bearish. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
19
Bitcoin - No trend reversal in sight, BTC eyes 15 000 USDYesterday, we changed our short-term bias back to bearish from neutral/slightly bullish. Additionally, we set new price targets at 17 500 USD and 15 000 USD, representing approximately an 11% and 24% decline from the current price level. Our bearish medium-term and long-term view is based mainly on fundamental factors like higher interest rates and economic tightening. However, technical aspects also support our thesis, especially across weekly and monthly time frames. Because of that, we continue to maintain our price targets and bearish bias. Accordingly, we expect BTCUSD to make new lows over time. Illustration 1.01 BTCUSD trades within the descending channel. Breakouts below the lower bound were followed by a new low and sideways moving price action. There are similarities between the previous price action and the current price action. Technical analysis - daily time frame RSI loses momentum. Stochastic starts to flatten. MACD points to the upside; however, it remains in the bearish territory. DM+ and DM- remain bearish. Overall, the daily time frame is neutral (and less bullish than in previous days). Illustration 1.02 Interestingly enough, volume started to pick up in the past four days; that hints at an increase in the selling pressure. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame stays bearish. Illustration 1.03 The failure of BTCUSD to retrace fully toward the 20-day SMA suggests that the downtrend correction is losing momentum. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
24
Bitcoin - BTCUSD due to revisit lows once the rally endsBitcoin's bear market rally shows the first signs of weakness and exhaustion. We still pay close attention to 20-day and 50-day SMAs; in the short-term, BTCUSD may attempt to retrace toward these levels (before breaking down and revisiting lows). Accordingly, we remain neutral/slightly bullish in the short-term. However, in the long-term, we remain bearish. Therefore, we will look for clues hinting at the rally's end. Fundamental factors Bearish fundamental factors continue to persist. The prospect of another rate hike by the FED in July 2022 diminishes the chances of Bitcoin's rally continuation. In fact, it threatens global markets and risk assets like cryptocurrencies. The same applies to the economic tightening, which will put substantial pressure on the economy and drag it lower. In addition to that, the upcoming regulation of cryptocurrencies will tighten the market conditions even further. We view mentioned factors as very damaging to the price of Bitcoin. Illustration 1.01 Volume has declined over the past few days. That is positive for BTCUSD as it hints at the cooling off within the selling pressure. In the short-term, the price will likely attempt to retrace toward its 20-day and 50-day SMAs, representing a correction of the downtrend. Technical analysis - daily time frame RSI and Stochastic are bullish. MACD points to the upside. DM+ and DM- are flatenning. Overall, the daily time frame is neutral/slightly bullish. Illustration 1.02 The total cryptocurrency market-cap remains below 1 trillion USD in valuation. Technical analysis - weekly time frame RSI is in oversold territory. MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame stays bearish. Illustration 1.03 The picture shows simple support and resistance levels for BTCUSD. 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.
BITSTAMP:BTCUSDShort
by Tradersweekly
18