OMISEGO - On important trend for possible breakout 6.50+Hello trading friends,
This is a small view for OMGUSDT.
As omisego are now on an important trend line - is this also the reason for this update.
you can see here the before update of omisego
There is a good chance that we could see a breakout in OMG - that could bring price action to 6.50+
We will follow and see if the market will show these effects.
There is no guarantee into trading - all depending on TA trends and data.
Have good time
# this is not a trading call - trade only depending on your setups.
Coins
Pools register $1.4 billion ADA Cardano (ADA) has experienced a significant increase in the amount of ADA that has been deposited into its staking pools in only 12 hours on March 22.
Indeed, the large quantity of Cardano that inflowed into the 23 newly created staking pools was roughly around the figure of 1.5 billion ADA which equates to about $1.4 billion, at the time of publication, according to data from Cardano staking pool analytics platform pool.pm.
Noteworthy is that each pool has a stake of 62 million ADC, and the percentage of ADC coins that have been staked is over 73%, which is an impressive showing in the context of DeFi development.
ZILLIQA : Interesting trends for daily updateHello trading friends,
This is an update for ZILUSDT depending on daily trends.
0,46+ is an interesting point for Zilliqa to watch out for the increasing trend with the time frame.
Zilliqa shows depending on TA trend interesting trends - and it's possible that we can see coming time a new volume trend - this depend also on the main coin BTC - what should stay at last stable.
Zilliqa could have a 25%+ increase by green trend.
Further, it's important to check also BTC trend - and to manage risk in case Zilliqa did choose another side.
Trend increase can take time - as market going on their way.
Have a great day.
@ This is not a trading call - trade always depending on your setups.
Coinbase in a Descending TriangleCoinbase - Short Term - We look to Sell at 193.04 (stop at 207.65)
Preferred trade is to sell into rallies. Trades with a bearish descending triangle formation. Trend line resistance is located at 200.00. The primary trend remains bearish. There is no clear indication that the downward move is coming to an end.
Our profit targets will be 137.94 and 129.55
Resistance: 200.00 / 220.00 / 250.00
Support: 160.00 / 120.00 / 100.00
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.
Bitcoin - Is trend reversal here? On 24th February 2022, when Russia invaded Ukraine, BTC stopped its decline at 34 324.05 USD. Prior to that we noted the tightening cycle in the U.S. combined with prospect of higher interest rates continued to pose a substantial threat to the price of cryptocurrencies. However, these odds of higher interest rates have fallen dramatically over the past few days. This forced us to reassess our bearish views on Bitcoin. We turned neutral on BTCUSD and we will observe price action closely in the following days. We think it is likely that Bitcoin will continue higher if geopolitical tensions are solved and if the general stock market moves higher at the same time. However, we are very cautious due to volatility in the market being highly elevated.
Technical analysis - daily time frame
RSI and Stochastic turned bullish. MACD points to the upside which is bullish too, however, it still remains within the bearish territory. If MACD will manage to cross above 0 points we expect it to further bolster a bullish case for Bitcoin. DM+ and DM- continue to show bearish conditions in the market. ADX exhibits growth which suggests the bearish trend is gaining momentum. Overall, the daily time frame gives mixed signals.
Technical analysis - weekly time frame
RSI is neutral while Stochastic and MACD remain bearish. DM+ and DM- are bearish too. ADX shows sideways moving action which suggests the trend of higher is neither getting more momentum nor losing it. Overall, the weekly time frame shows mixed signals which coincides with the daily time frame.
Support and resistance
Closest psychological support appears at 40 000 USD. Meanwhile short-term support lies at 32 950.72 USD and short-term resistance at 45 850 USD. Resistance 1 is at 52 098.60 USD and Resistance 2 at 59 445.45 USD. Major resistance is at 69 000 USD while major support can be found at 28 600 USD.
Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Bitcoin - Selling pressure resumesBitcoin fell approximately 14% since our last update in which we boldly stated BTCUSD would not reach a new all time high in 2022. We pointed out that the price of Bitcoin retraced towards its 50-day Simple Moving Average which represented a correction of the downtrend, seeing the price bounce back to 45 850 USD. We also stated that the volume kept falling while the price kept rising which suggested new buyers were increasingly harder to find. This eventually resulted in the price meltdown and BTCUSD fell below 40 000 USD; subsequently, BTCUSD reached both our price targets. We continue to be bearish on Bitcoin and because of that we would like to set a new short-term price target to 37 500 USD and medium-term price target to 35 000 USD. Our view is supported by a bearish fundamental and technical outlook. As in the past, we still think the interest rate hike that is coming next month poses a substantial threat to further rise of cryptocurrencies. Actually, we think the tightening cycle in the U.S. is very bearish for Bitcoin and it will ultimately result in the price drifting lower. In addition to that, the current weakness in the general stock market also poses a threat to BTCUSD.
Illustration 1.01
Picture above depicts the daily chart of NQ1! (Nasdaq 100 index continuous futures). The yellow circle indicates the area that shows high similarity in the structure of candles to BTCUSD. This is also observable on the daily chart of SPX. It shows high positive correlation between Bitcoin, S&P 500 index and Nasdaq 100 index.
Technical analysis - daily time frame
RSI and Stochastic are bearish. MACD is in the bullish area, however, it started to flatten and reverse which is very bearish. DM+ and DM- performed bearish crossover recently. ADX undergoes reset. Overall, the daily time frame is very bearish.
Illustration 1.02
Just a while ago we predicted that cryptocurrencies would see capital outflows while gold would see capital inflows. This has proved to be the correct call as gold has resumed the bullish trend recently. Indeed, this week gold saw the biggest volume increase since June 2013. We think this phenomenon will strengthen in the short-term and medium-term future.
Technical analysis - weekly time frame
RSI, MACD and Stochastic are all bearish. DM+ and DM- are bearish too. ADX contains relatively low value which suggests the current trend of higher degree is very weak. Overall, the weekly time frame is bearish.
Support and resistance
Immediate support lies at 39 558.70 USD. Short-term support appears at 32 950.72 USD and short-term resistance sits at 45 850 USD. Resistance 1 is at 52 089.60 USD, Resistance 2 at 59 250 USD and Resistance 3 at 64 895.22 USD. Major resistance level sits at 69 000 USD meanwhile major support level can be found at 28 600 USD.
Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Bitcoin - Why no new ATH will be reached in 2022Bitcoin rallied over 34% since its low on 25th January 2022. Rally has been fueled by speculation that the FED would not raise interest rates as aggressively as it projects. However, we think the FED will be forced to raise interest rates at least twice this year, primarily due to high inflation which poses structural risk to the global economy. Therefore, we think the current price rally will be short lived and no new all time high price will be reached by BTCUSD in 2022. Instead we think upcoming rate hikes will act as headwinds for further rise in the price of Bitcoin. Additionally, the current bounce in price coincides with retracement towards medium-term SMA (50-day SMA) which is a natural phenomenon and tends to occur when price deviates too far from its moving average. For this reason we will pay close attention to the price and we will watch whether it will manage to stay above its 50-day SMA or not. We expect a drop below the 50-day SMA to be accompanied by resumption of selling pressure. Because of that we would like to set a new short-term price target for BTCUSD to 42 500 USD. Additionally, we would like to set a medium-term price target to 40 000 USD.
Illustration 1.01
Illustration above shows the daily chart of BTCUSD and its volume. Volume can be seen declining as price keeps making new highs. This suggests new buyers are increasingly harder to find near the 44 000 USD price tag.
Technical analysis - daily time frame
RSI is bullish, however, it shows first signs of flattening. MACD performed a bullish crossover above 0 points which is positive for BTCUSD. Stochastic oscillates in the upper area which is bullish. DM+ and DM- are bullish too. ADX undergoes reset through decline. Overall, the daily time frame is bullish.
Technical analysis - weekly time frame
RSI continues to develop medium-term bearish structure which remains intact. MACD is bearish as well. Stochastic oscillates in the bearish area but points to the upside. DM+ and DM- are bearish. ADX contains relatively low value that is on continuous decline. This signals no trend is currently present in BTCUSD; additionally, it suggests choppy price market action. Overall, the weekly time frame is bearish.
Support and resistance
Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
NAGA GROUP - Global Multi TradingChart painting from the early 21st century, artist Maxi Scalibusa. No investment advice or a recommendation to buy or sell any securities. This is entertainment. Start 5.41 EUR
Chart, Story, Momentum - Global Multi Trading - NFT, Coins, Stocks
ALOHA
Bitcoin Dominance - Elliot Waves count Sample Elliot wave structure count of the Bitcoin Dominance. Based on this rough estimate, we do not see any kinda alt-season run till mid summer June - July, now this is clearly no prediction on time since that cannot be predicted in any way, but this is a best-guess basis on the Elliot waves drawn out with the subwaves.
This would also subside with the fact that we would see BTC gain some dominance in the next few months as it makes it's retrace to the 0.786 level fibs from the ATH of BTC, at this moment we expect that once BTC makes that retracement, we enter the bear market and if the alts did not run during that phase, then it is when I will be considering dumping my bags as we enter long term bear market.
This is NOT financial advice, this is only my opinion.
BUYING NASDAQ THIS WEEKHere is my view on Nasdaq for this week. Please apply proper risk management while trading this asset. Thank you
$BTC taking profit for a 18.4% gain 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Recap: My team was holding Bitcoin $BTC shares at our entry from 1/22/2022 at 35k.
My team has closed this trade with a nice a gain of %18.4.
We are now expecting $BTC to drop down and retest $36k-39k. This would be a good opportunity for those looking to short, but my team has decided to sit on the sidelines for now.
Congrats to those of you who took this trade!
ENTRY: 35000
TOOK PROFIT AT: $41480
If you want to see more, please like and follow us @SimplyShowMeTheMoney
Technical analysis update: Bitcoin (24th January 2022)Bitcoin reached a new low of 33 503.40 USD. Much has not changed since our last update on BTCUSD. We continue to maintain a bearish stance on the cryptocurrency market overall. We expect the downtrend to continue and our view is still supported by bearish fundamental and technical factors which are detailed below. Since our two latest price targets were reached recently we would like to set a new short-term price target for BTCUSD to 32 500 USD. Additionally, we would like to set a medium-term price target for BTCUSD to 30 000 USD.
We would like to note that there is a FOMC meeting this week. Investors will get more clues on upcoming rate hikes and possible tightening steps by the FED. We continue to view these steps by the U.S. central bank as very bearish for the overall cryptocurrency market.
Illustration 1.01
Picture above shows the weekly chart of BTCUSD. It also shows 10-week SMA and 20-week SMA. These two averages recently confirmed the downtrend by performing bearish crossover.
Technical analysis - daily time frame
RSI remains in the oversold territory which reflects extreme strength of the downtrend. MACD and Stochastic remain bearish. Same applies for DM+ and DM-. ADX increases which suggests the downtrend is gaining more strength. Overall, the daily time frame is bearish. However, it also signals caution as RSI reached oversold condition and price deviated too much from its short-term simple moving average.
Illustration 1.02
Picture above shows the daily chart of BTCUSD. It also shows buildup in volume over a certain period. It also shows a drop in volume over the weekend despite the price continuing lower.
Technical analysis - weekly time frame
Weekly time frame is consistent with the daily, which is very bearish. RSI, MACD and Stochastic are all bearish. Same applies to DM+ and DM-. ADX increases which suggests that the bearish trend of higher degree is gaining strength. Overall, the weekly time frame is bearish.
Support and resistance
Short-term resistance sits at 37 300 USD which coincides with the 10-day Simple Moving average. Major support lies at 28 600 USD. Resistance 1 is at 39 573.21 USD and Resistance 2 is at 41 967.50 USD. Resistance 3 lies at 45 478.74 USD. Important psychological support can be found at 32 500 USD and then at 30 000 USD.
Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
$BTBT get to know us 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management
The crypto market is at its loading zone. My team is loading up shares of crypto related companies that we believe will surely benefit from this rally.
Today my team purchased shares of bitcoin mining company $BTBT at $5.3 per share. This trade set-up has a very high sucess rate.
Our entry: $5.3
Target: unknown
Stop loss: $5
If you want to see more, please like and follow us @SimplyShowMeTheMoney
Technical analysis update: Bitcoin (21st January 2022)Bitcoin formed a new low at 37 683.90 USD, shy just 183.90 USD of our latest price target. We continue to be bearish as technical factors suggest more trouble ahead for BTCUSD. We expect weakness in the general stock market to drag lower prices of cryptocurrencies with it. Additionally, we think rotation out of the cryptocurrency sector into the precious metals sector will take place. Our latest medium-term price target was changed to short-term price target which stands at 37 500 USD. Our new medium-term price target is 35 000 USD.
Illustration 1.01
We presented this chart formation on 6th January 2022. We noted that once the neckline was penetrated to the downside then the downtrend would unravel below it. Since then price dropped more than 13%.
Technical analysis - daily time frame
RSI reached an oversold condition which signals caution. However, no divergence between previous bearish crossover and the current one is present. MACD remains in the bearish territory and points to the downside. Stochastic is also bearish. DM+ and DM- show that same condition with ADX suggesting that the current trend is extremely strong. Overall, the daily time frame is bearish.
Illustration 1.02
Picture above shows the monthly chart of Bitcoin. It also shows bearish developments in RSI, MACD and Stochastic taking place. This is particularly menacing as up until now only the daily and the weekly time frames were completely bearish. Now the monthly time frame joins them.
Technical analysis - weekly time frame
RSI, MACD and Stochastic are all bearish. Same applies to DM+ and DM-. ADX grows which started to increase which suggests that the bearish trend of higher degree is gaining strength. Moving averages are bearish. Overall, the weekly time frame is bearish.
Support and resistance
Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Technical analysis update: Bitcoin (11th January 2022)Bitcoin fell below 40 000 USD and reached our latest short-term price target. Additionally, it reached an oversold condition which made us reassess our views. We think a price bounce from its current level towards 46 000 USD is very likely. However, we are very cautious and expect the downtrend to resume after retracement is completed. Though, we are open to change our view as time goes forward. Our medium-term price target of 37 500 USD remains unchanged.
Technical analysis - daily time frame
RSI reversed after reaching oversold condition; indeed, it performed a bullish crossover above 30 points. MACD started to flatten. However, it remains in the bearish area. Stochastic oscillates in the bearish zone too but it managed to reverse to the upside which is bullish. DM+ and DM- continue to show bearish conditions with ADX peaking. Overall, the daily time frame is less bearish than in the time of our last update on BTCUSD.
Illustration 1.01
Illustration above shows the daily chart of BTCUSD. It also shows 20-day Simple Moving Average (blue line). We expect price to retrace towards its 20-day SMA (as it is natural for price to retrace towards its moving average after it deviated too far from it) which coincides with price level near 46 000 USD.
Technical analysis - weekly time frame
RSI and Stochastic are bearish. MACD is bearish too and we will observe it in the following weeks. We will watch whether it manages to break below 0 points into the bearish area. We expect such a phenomenon to be accompanied by resumption of the downtrend. DM+ and DM- show bearish conditions while ADX continues to flatten. This suggests that price might end up trading within a certain range before a new trend commences (or prior bearish trend resumes). Overall, the weekly time frame is bearish.
Support and resistance
Immediate support/resistance can be found at 41 967 USD. Support 1 sits at 39 573 USD and Support 2 lies at 37 300 USD. Major support level sits at 28 600 USD. Short-term resistance lies at 45 478 USD. Resistance 1 lies at 48 834 USD and Resistance 2 sits at 52 956 USD.
Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Technical analysis update: Bitcoin (5th January 2022)Bitcoin trades slightly above 46 000 USD and we continue to maintain bearish notion on it. Our short-term price target of 42 500 USD remains in place.
Technical analysis - daily time frame
RSI is bearish. MACD flattened out before crossing above 0 points which is also bearish. Stochastic is bearish too. DM+ and DM- show bearish conditions. ADX started to flatten; and it seems as if it would want to start increasing again. In such a case, that would suggest that the bearish trend is still present and regaining strength.
Illustration 1.01
Illustration above shows the daily chart of BTCUSD. It also shows a recent false breakout (from pattern resembling falling wedge) to the upside and its full retracement. Now we will observe whether BTCUSD manages to break below short-term support and subsequently make a new low.
Technical analysis - weekly time frame
RSI is bearish. MACD and Stochastic are also bearish. DM+ and DM- exhibit bearish conditions. ADX is relatively low which coincides with BTCUSD trading sideways prior to bearish breakout from the neutral zone.
Illustration 1.02
Illustration above shows the daily chart of BTCUSD. It also shows head and shoulders pattern being formed. We will observe whether Bitcoin manages to break below the neckline which would be extremely bearish for BTCUSD.
Support and resistance
Short-term support lies at 45 478 USD. Support 1 can be found at 41 967 USD and the major support level sits at 28 600 USD. Short-term resistance lies at 48 834 USD and Resistance 1 sits at 52 956 USD. Neutral zone appears between the short-term resistance and Resistance 1.
Our previous idea on BTCUSD from 30th December 2021:
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Technical analysis update: BTCUSD (6th January 2022)Bitcoin reached our short-term price target of 42 500 USD yesterday. We continue to maintain a bearish stance on Bitcoin and we expect selling pressure to be persistent. Our view is supported by bearish technical and fundamental factors. We view hawkish minutes by the FED as very bearish for the whole cryptocurrency market. Faster pace of tightening and increase in interest rates in the U.S. poses substantial threat for further rise in price of cryptocurrencies. This combined with bearish indicators on daily, weekly and monthly time frames suggest that trend remains to the downside and because of that we would like to set a new short-term price target for BTCUSD to 40 000 USD. Additionally, we would like to set a medium-term price target for BTCUSD to 37 500 USD.
(If you want to understand how we got to this conclusion, read attached articles from 16th November 2021, 13th December 2021 and 5th January 2022)
Illustration 1.01
Picture above shows the daily chart of BTCUSD. It also shows a head and shoulders pattern which got confirmed as the price dropped to 42 413 USD. This is extremely bearish and we will observe price action very closely in the following days. We will watch whether BTCUSD manages to stay below the neckline or whether it retraces back above it. If Bitcoin manages to retrace back above the neckline, then we expect price to bounce towards 46 000 USD price tag before dropping lower.
Technical analysis - daily time frame
RSI, MACD and Stochastic are all bearish. DM + and DM- show bearish conditions. ADX continues to increase which suggests that the bearish trend is regaining strength. We will watch out for RSI crossover below 30 points which we expect to be accompanied by further selling pressure that will ultimately drag BTCUSD below 40 000 USD.
Illustration 1.02
Illustration 1.02 shows the daily chart of RSI (of BTCUSD) that is due to perform a crossover below 30 points. Such an occurrence would be very bearish for BTCUSD.
Technical analysis - weekly time frame
RSI is bearish. MACD and Stochastic are also bearish. DM+ and DM- exhibit bearish conditions. ADX is relatively low which coincides with BTCUSD trading sideways prior to bearish breakout from the neutral zone.
Illustration 1.03
Picture above shows the daily chart of BTCUSD. It also shows particular support and resistance levels.
Support and resistance
Short-term support can be found at 41 967 USD. Support 1 sits at 39 573 USD and major support level sits at 28 600 USD. Short-term resistance lies at 45 478 USD. Resistance 1 lies at 48 834 USD and Resistance 2 sits at 52 956 USD.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Technical analysis update: Bitcoin (7th January 2022)Bitcoin's recent drop to 40 938 USD indicates continuation of the bearish trend. This view is also supported by a bearish combination of fundamental and technical factors. During its recent drop BTCUSD broke below the key technical support at 41 967 USD; and, at the same time, it broke below the neckline of head and shoulders pattern. These two instances are very bearish for Bitcoin. We continue to maintain a bearish stance on the overall cryptocurrency market. Indeed, we expect selling pressure to be persistent which will result in Bitcoin moving lower from its current level. Our short-term price target for BTCUSD remains at 40 000 USD; and our medium-term price target is at 37 500 USD.
Illustration 1.01
Picture above shows the hourly chart of BTCUSD. It also shows a bearish breakout below the neckline of the head and shoulders pattern. We previously noted that this occurrence would be followed by heavy selling pressure.
Technical analysis - daily time frame
RSI is very bearish; and we continue to await its crossover below the 30 points. Additionally, we expect this phenomenon to be accompanied by heavy selling pressure that will drag Bitcoin below the 40 000 USD price tag. MACD is also bearish. Stochastic reversed to the upside, however, it continues to oscillate in the bearish area. DM+ and DM- show bearish conditions in the market; and ADX strives to make another peak in tandem with our expectations. This indicates that the bearish trend is regaining strength. Overall, technical analysis on a daily time frame is very bearish and signals lower prices for Bitcoin.
Illustration 1.02
Picture above shows the daily RSI of BTCUSD. We expect crossover below the 30 points as indicated by the yellow arrow.
Technical analysis - weekly time frame
RSI, MACD and Stochastic all remain bearish. DM+ and DM- show that same condition. ADX started to flatten from its previous decline.
Support and resistance
Short-term support can be found at 41 967 USD. Support 1 sits at 39 573 USD and Support 2 lies at 37 300 USD. Major support level sits at 28 600 USD. Short-term resistance lies at 45 478 USD. Resistance 1 lies at 48 834 USD and Resistance 2 sits at 52 956 USD.
(If you want to understand how we got to this conclusion, please read attached articles from 16th November 2021, 13th December 2021 and 5th January 2022)
Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Technical analysis update: BTCUSD (18th December 2021)We continue to maintain a bearish view on Bitcoin as it continues to trade below the neutral zone. Since Bitcoin's rebound from its recent low at 41 967.50 USD on 4th December 2021 Bitcoin continues to make lower troughs and lower peaks which is indicative of the bearish trend. We expect an eventual retest of 41 967.50 USD price level and possible continuation of the bearish trend. We think that higher interest rates in the U.S. combined with constriction of money supply present a substantial threat to further rise of BTCUSD in the short-term and medium-term. Because of that we would like to set a short-term price target for BTCUSD to 42 500 USD.
Illustration 1.01
Picture above shows the hourly chart of BTCUSD. It also shows particular troughs and peaks.
Technical analysis - daily time frame
So far RSI failed to cross below 30 points; however, its structure remains bearish. Stochastic is also bearish. MACD is bearish too; DM+ and DM- show bearish conditions. ADX contains high value; and it continues to grow which suggests that the prevailing trend is either getting very strong or it nears its peak. Overall, the daily time frame is bearish.
Technical analysis - weekly time frame
RSI, Stochastic and MACD continue to develop bearish structures. DM+ and DM- are also bearish. ADX contains relatively low value which suggests that trend of higher degree is weak. In general, the weekly time frame is bearish which coincides with bearish daily time frame.
Illustration 1.02
We think that drop in price below recent low would result in extremely bearish conditions for BTCUSD.
Support and resistance
Major support level is at 28 600 USD while major resistance level is at 69 000 USD. Short-term resistance is at 48 834 USD while medium-term resistance lies at 52 956 USD. Between these two price levels lies the neutral zone. Other resistance levels appear at 59 564 USD and then at 64 895 USD. Other support levels can be found at 42 900 USD and at 37 573 USD. Additionally, support level can be also found at recent low of 41 967 USD.
Our bold predictions from the past:
16th November 2021
Here we predicted double top formation and subsequent meltdown in price.
26th November 2021
Here we layed out case for even more bearish scenario for BTCUSD.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
Technical analysis update: Bitcoin (30th December 2021)Recently a bullish breakout from the pattern resembling falling wedge occurred. However, price halted its rise at 52 098 USD; then price retracted back below the lower bound of the neutral zone. This lower bound continues to gain importance as bearish breakouts and retracements continue to occur along it. We will observe price action near this price level and we will watch out whether price manages to rise back above it or continue its decline. At the moment, we continue to maintain a bearish notion on BTCUSD. We still expect an eventual retest of 41 967 USD price level. Our short-term price target of 42 500 USD for BTCUSD remains in place.
Illustration 1.01
Illustration 1.01 shows the hourly chart of BTCUSD. It also shows a pattern resembling a falling wedge. Additionally, this chart exhibits bullish breakout followed by exhaustion and bearish retracement in price.
Technical analysis - daily time frame
RSI halted its rise slightly above 50 points. After that it reversed its direction to the downside which is bearish. Stochastic also reversed back to the downside and turned bearish. MACD started to flatten and its histogram started to decline. ADX still contains relatively high value but it continues to gradually decline. However, it is possible that ADX may go for a second lower peak (lower than one which was reached on 20th December 2021), especially if selling pressure returns. DM+ and DM- continue to show bearish conditions. Overall, the daily time frame exhibits bearish conditions for BTCUSD.
Illustration 1.02
Illustration 1.03 shows the hourly chart of BTCUSD. It also indicates a series of bearish breakouts below the neutral zone.
Technical analysis - weekly time frame
RSI, MACD and Stochastic continue to develop bearish medium-term structures. Additionally, DM+ and DM- show bearish conditions in the market. However, ADX contains a relatively low value which suggests that the prevailing trend remains neutral. Because of that BTCUSD allows for two possible trade setups with long position being taken above the Resistance 2 (with stop-loss below it) and short position being taken below the Resistance 1 (with stop-loss above it).
Illustration 1.03
Illustration 1.03 shows the daily chart of BTCUSD. It also indicates values at some of the recent peaks in BTCUSD.
Support and resistance
Major support level is at 28 600 USD; major resistance level is at 69 000 USD. Short-term resistance (Resistance 1) is at 48 834 USD, while medium-term resistance (Resistance 2) lies at 52 956 USD. Between these two price levels lies the neutral zone. BTCUSD enters bearish conditions below it and bullish conditions above it. Other resistance levels appear at 59 564 USD and at 64 895 USD. Other support levels can be found at 42 900 USD and at 37 573 USD. Additionally, support level can be also found at recent low of 41 967 USD.
Illustration 1.04
In our opinion if BTCUSD breaks below the recent low at 41 967 USD then conditions will dramatically worsen for Bitcoin. However, we are open to reasses our bearish view if price manages to hold within the neutral zone and then break out above it.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BTCUSD a short term trade idea Hey trader hope you all are doing very well. My idea about btcusd is this as i am expecting this pair to drop according to fundamentals. Best of luck
LUNA USDT Chart Analysis with Price predictions Hey trades today I want to talk about LUNA CHART
Luna has been trading in ascending channel for the last month. It has been trading within the rising channel starting from late November making higher high and higher lows and finally broke out of the channel by making 15% pullback (correction) started a new rising channel within few days. Prices are pushed up with strong volume and RSI and Luna started to make new higher highs (new ATH ) and higher lows within this new rising channel and finally broke out of the channel 27 December.
In my opinion, it will continue to rise until the level of TARGET 1 and if it makes a correct and actual break, we will see the currency price towards TARGET 2 AND THEN ATH
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you
BTC The Bearish Breakout!?What do we have here? Is there any pattern to follow?
We are currently looking at 3 patterns in 1H Time Frame.
1. Descending wedge tells us we are going up for breakout with $48,290 Take Profit (TP) target.
2. M Pattern / Double Top Pattern with $44,916 Target Profit.
3. Cup & Handle Pattern which is also bearish. With the handle insight, first TP will be $46,057.8, and the second TP will be $45,088.7 thanks for the hint from the Cup.
Nonetheless we are still looking at a smaller time frame which can still be affected by bigger time frame.
We will wait when the volume kicks in and know where it is going. as the Europe market open and the US market open it will bring more volatility in the market.
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Disclaimer: Above technical analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
