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BTCUSD: Needs Breakout Before PumpToday's relief rally to $28,500 needs confirmation on both sides before we can see the broader picture. BTCUSD is currently making lower highs in a distinctive consolidation pattern, with tremendous support at $26,600 and multiple (failed) attempts to create higher highs. Here are some of my observations for both the bulls and the bears and I'll leave it for you guys to discuss in the comments. For the Bears: We need a lower high on the RSI before we can label this as a rejection off the red resistance line. A fall below $26,600 would make this rally a classic head and shoulders pattern, in which the price could potentially fall through the liquidity zone after its parabolic rise earlier this year. For the Bulls: The RSI has consistently been making higher lows since March 10th. This pattern is similar to the higher lows pattern that preceded January's liquidity pump after the FTX fallout, where BTCUSD rapidly rose up to meet the pre-fallout price levels. We would need a strong break through the red resistance line and a higher high to confirm that a macro rally has actually begun. My verdict: if a pump to $29,000 or $30,000 is coming, I don't think it is in today's rally. The RSI has risen too quickly when compared to previous macro rallies, and the red structural resistance hasn't been broken through. Rather, I believe today was an influx of capital because a) the opening on Hong Kong / China to crypto once again and b) the tentative debt ceiling agreement reached by the US Congress. Be sure to keep an eye on the red resistance line, and also the volume profile at about 29K. I will enter long or enter short depending on future price action and confirmation, but for now I am neutral.
INDEX:BTCUSD
by wbburgin
Is BTC getting ready for a rise?Based on the look of price action on the daily it looks like at least a temporary rise over the next 2-3+ days. The fake break towards the down side out of consolidation and then the break back into and through structure upwards indicates very strong probability to the upside. Also i see there are many orders sitting around the 29000 - 30000 price levels which may definitely be of interest to market makers. So any new guys or anybody with short term shorts around this level on lower charts than the daily please be careful and keep an eye on your positions as you could be swimming against the current.
Long
by SunTzu_V
1
The Fight For 26,749 Daily Zone 🐻 | Bitcoin ₿With 1 Day until the weekly candle close we can observe a currrent Doji candle forming. & This is not particularly exciting for either side. The Daily Candle closing in 2 hours appears to be closing at our 26,749 $ Daily S/R Zone. This is good for the Bears. The Bulls are desperate for a strong close above here. Even if the next daily candle goes up and closes up 1% we still would have + 1.5% to go to reach the weekly high at 27,500$. I am still favoring the Bears as price has been moving down on the Higher timeframes in the medium term and that is likely to continue. For Bulls if we can break and hold above 26,749 $ then we may see an easy move back up to our 4hr zone 27,250
COINBASE:BTCUSDShort
by ShrewdCatfx
1
Bitcoin -> Wait For The BreakoutHello Traders, welcome to this free and educational multi-timeframe technical analysis. On the weekly timeframe you can see that Bitcoin recently perfectly retested and already rejected a quite nice previous weekly support zone which was turned resistance at the $30.000 level. You can also see that weekly market structure and moving averages are still overall bullish, I am definitely waiting for a weekly retest of the next support zone at the $24.000 level and then I do expect more continuation towards the upside from there. On the daily timeframe you can see that Bitcoin has been trading in a range for quite some time with support at the $26.000 area and resistance at the 27.400 area so I am now just waiting for a breakout towards the upside before I then do expect another daily bullish rally. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
BITSTAMP:BTCUSDLong
by basictradingtv
42
Ethereum -> Consolidation Before BreakoutHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that Ethereum is approaching a quite nice previous weekly resistance area which is currently turned support exactly at the $1700 level. You can also see that weekly moving averages and market structure is overall bullish, I am now just waiting for a retest of this level before I then do expect more continuation towards the upside. On the daily timeframe you can also see that over the past couple of days Ethereum has been trading between support at the $1780 level and resistance at the $1855 level so I am now just waiting for a break above the resistance and then also the daily timeframe looks promising for a next rally towards the upside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
BITSTAMP:ETHUSDLong
by basictradingtv
34
Bitcoin & Ethereum: Sunny Outlook ⛅ Ripple & Cardano Shining? ☀️Sunny weather with a few scattered clouds lies ahead for the crypto space, including Bitcoin and Ethereum . The market sentiment is boosted by the Nasdaq's overnight rally and hopes of an imminent debt ceiling deal. This sets the stage for a slightly bullish market with upside potential in the next 24 hours. 🚀 But the spotlight today falls on Ripple and Cardano , as they bask in tropical conditions - very bullish with significant upside potential. 🌴🌟 Over a one-week horizon, cloudy weather with some sun for Bitcoin , which means a slightly bearish market with downside risk. The outlook is better for Ethereum, Ripple and Cardano : a slightly bullish market with upside potential. Follow us to stay updated with more crypto weather insights and reports!🌩️⛅🌈
BITSTAMP:BTCUSDLong
by ATTMO
Bitcoin is Creating Lower Highs but the Lows are Equal 🕵️Bitcoin is rejecting Higher Prices and creating Lower Highs. BTC is simultaneously holding a flat support level at 26,600 4Hr level as we can observe here. Price is squeezing downwards but the bottom is remaining flat at our 26,600 4Hr level. Soon this pressure may burst up or down and I'd bet on more downside. This Price action/Multi-timeframe analysis details a bearish market. Bearish Market Structure has Lower Lows and Lower Highs. Bullish market Strucutre has Higher Highs and Higher Lows. The Weekly timeframe is printing multiple bear candles. We are also creating back to back descending wicks on the Daily timeframe. This denotes a market that is in momentum. Looking for lower prices here. Will Update. Safe Trading.
COINBASE:BTCUSDShort
by ShrewdCatfx
KAVAUSDT is testing important levels, potential +10% from here Hello Traders:) Currently, the level of the top line of the Market profile from Monday is being tested. Previously, after breaking this level, KAVAUSDT exploded over 30% up. Currently, after returning and positively testing this level, I assume a return to at least the upper limits of the market profile from the previous days, which will give us at least 10% increase in KAVAUSDT. Negation of the scenario after breaking through today's lower limit of the market profile. I wish you great trades!
Long
by Vezzeris
BTC ⛈️ ETH ⛈️ Will ADA Soar Despite the Storm? 🌩️🚀🤔Stormy weather ahead on the global crypto market. ⛈️ This translates into a very bearish market with some downside risk for cryptocurrencies like Bitcoin, Ethereum, Binance Coin, and Polkadot. The weather is, however, 🌴 tropical – very bullish with some upside potential – for Cardano today. Over a one-week horizon, ☁️ cloudy weather with some ☀️ sun is likely for Bitcoin, signaling a slightly bearish market with downside risk. The outlook is a bit brighter for Ethereum, Ripple, Cardano, and Dogecoin, where ATTMO signals a slightly bullish mood with 🚀 upside potential. Follow us to stay updated with more crypto weather insights and reports!🌩️⛅🌈
BITSTAMP:BTCUSDShort
by ATTMO
Keep it Simple🧧 4Hr Resistance Zone in a Short Term Downtrend ₿It is Safe to Say that after looking at the Weekly chart, Bitcoin will likely see more downside to come. We can observe Bearish market Structure on the Weekly Chart. A LL on the second week of April(27,566$), a Lower High on the first week of May (29,236$) and now a New LL (26,931$) on the Second week of May. Price is stair stepping it's way down. Gracefully. But with that said we may see a fierce drop to come as we have seen in Years Past on BTC. We can recall that when investors and institutions dump BTC they do not hesitate. The Daily Candle is About to close Bullish. However we can at least anticipate a Lower wick and bounce off our 4Hr Zone 27,430$ On Monday of this week Price respected our 27,600$ Weekly S/R Level. Price in Medium Term has eased off our June 2022 30,000$ Weekly S/R level and is pulling down. With clean traffic to the left on the 4Hr Timeframe I can visualize price dropping once we return to 26K again. Our Next Stop on the Daily timeframe will be 24,374$ . For Buyers we are at the extreme lows of our Daily Range between 26,700$ and 30,500$. Price is testing the extreme Lows. Will Buyers step in to protect these Medium Term Lows or will BTC print fresh lows alongside the Stock market as Inflation stays steady above the Fed's 2% Target. I think at the Bare Minimum we can anticipate a Short term range between 27,600 Weekly S/R level and 26,700 Daily Level. We are selling the top of the range. Not Financial Advice For Educational Purposes Only. This is Price Action combined with Multi-Timeframe Analysis.
COINBASE:BTCUSDShort
by ShrewdCatfx
BTC Faces Bearish Conditions 🐻⚡️ Will LTC Defy the Trend? 🌩️🚀The global crypto market faces cloudy weather with some sun ⛅️ in the next 24 hours, as the failure to reach an agreement on the US debt ceiling weighs on the market sentiment. This translates into a slightly bearish market 🐻 with downside risk for several currencies, Bitcoin included. The weather is however stormy ⛈️ – signaling an imminent rebound – for Litecoin today. Litecoin has been subject to profit-taking 💰 after interest for this crypto asset soared following its release of its own LTC-20 standard earlier in May. Over a one-week horizon, cloudy weather with some sun ☀️ is predicted for Bitcoin and Binance Coin. This forecast can be translated into a slightly bearish market 🐻 with downside risk. The outlook is brighter for Ethereum and Ripple where a slightly bullish market 🐮 with upside potential is likely. Follow us to stay updated with more crypto weather insights and reports!🌩️⛅🌈
by ATTMO
Bullish Hidden Divergence $PEPEI found out Bullish Hidden Divergence for $PEPE. It is also in the support zone. If support doesn`t break, then huge parabolic prices are coming! Just wait for what happens with the support zone, I suggest using Stop Loss! Seems in my previous analysis I missed where should wave B ended, but now it seems to be finished mostly, because of these points: 1. Bullish hidden divergence 2. Support zone. I think it is ready to start wave C. Disclaimer: Use stop loss and trade with your own risks.
Long
by UncleSurfer
3