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Bitcoin will retest levels below $26k before finding a bottomI warned that Bitcoin would not find support until it reached $26k or lower many weeks ago. Now, I believe Bitcoin will attempt to move below $26k again - to FLUSH OUT new lows. This could mean a move below $22k or $21k - possibly bottoming below $20k on deep selling. The markets are looking for a bottom, but the unwinding of the speculative phase (over the past 5+ years) is going to take time. As traders and investors shift expectations, I'm expecting a much deeper unwinding process for Cryptos and Bitcoin. Ultimately, the $16k level may come into play again. But technically, the trend is Bearish and I believe this is the first downside wave of a bigger FLUSH OUT price move. Everyone will be saying "this is the bottom".. I don't believe we've seen the bottom for Bitcoin yet. Stay cautious.
BITSTAMP:BTCUSDShort
by BradMatheny
1
Sand/usdt trading idea and why you can hodl for long term$Sand Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community. According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. Following The Trend : for years now the crypto ecosystem always follow some trend after a correction, (eg) Before 2019 was POws coins 2021 was meme and I believe 2022 would be the year for metaverse and NFts. NFT and Metaverse being talk of the town now and sandbox is one of the front tire in the industry with years of experience. I believe they have a lot in stock for 2022 considering the fact they raised 93 million In earlier 2021 with backing from companies Making it an area of interest. Technically Sand/Usdt has been on my watchlist from the time of all time high at $8.5, The chart is very interesting as you can see a strong break out from the falling wage bouncing off from the channel trendline with a flag pattern after the bulls charged. Indeed Altseason is kicking At the time of writing this article, Sand/usdt is trading at $3.3. which I believe with the strong team behind Sandbox we can see an all-time higher. With this in mind, I believe it would be a great bet😃 Your encouragement is highly needed so I could continue researching on profitable ideas. Like and upvote if you find this content interesting Thanks and stay safe.
Long
by Italkbet
1
WHY You should not be Bullish #BitcoinWHY I BELIEVE ITS TOO EARLY TO BE BULLISH ON BITCOIN AND WHY YOU SHOULD TOO. Since 26th December 2021 we can see that Bitcoin has been trapped in what I call the falling wage pattern which is between 52k higher high and 32k lower low. According to babypis, falling wedge can either be a reversal or continuation signal. As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next. As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume. The wage trend line has flagged off several times and now is the 2nd time for the bulls to retaliate by driving the bears to the resistance side. Now price action trapped the market in the middle. the bulls currently drive the trend to resistance line making it the 3rd time the resistance line would be tested which if the bears charges back, we would see the market much lower at the support at 36k I won't be surprised if that Happens as we can see the H4 RSI showing over bought. Moreso Horizontally zooming out, you can see the red rectangular shape showing that 51k and 39k has been an area of interest between the bulls and bears since July 30th even before the last 68k bull run. (After the first broke out in 2021 we saw an all time high and currently it's below the resistance line and the question is would we see another dipper market?.) 💡 IDEA : Bitcoin is yet to close above the wage pattern trend line therefore I don't believe the Bitcoin bull run has commenced until H4 candle close above 46,700 and retest the the trend line while holding the bull motion. Conclusion : if you believe that Bitcoin bull run has commenced, you can long it until another all time high is attained But if you are a rational trader. You can wait until the trend line is broken, Then can ride from any side of the breakout. How ever bear traders can open a position now at $42,940 and keep your sl at $43,670 which is 1.73% risk Tp at $36,360 which is 15.27% Profit. This is for educational purpose and not an investment advice. If you find this content helpful you can follow and upvote If you have a contrary opinion or another point of view I would be glad to hear it on the comment side. Thanks
Short
by Italkbet
4