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Wait for the weekly closeMorning folks, So, reaction on fake ETF news makes evident that this even is highly overpriced. Jump just for 3K discovers that this is purely speculative reaction and no real money stands behind. Mostly I would say that this news is already worked out and no multiple raising of BTC capitalization will happen. Today we suggest to wait for the weekly close. We could get H&S pattern on weekly chart. If we get the bearish grabber on top - it suggest drop under 25 K area. In this case next week we could consider scenarios for bearish entry.
BITFINEX:BTCUSD
by Sive-Morten
27.4K is vitalMorning folks, So, BTC is moving by some reasons, known only to itself. Market is very thin and it seems that investors just are searching for something to make some moves. The connection to performance as safe haven as risky assets is lost. Now it was reported that some short liquidation has happened and long-term hodlers have accumulated $3.2Mln positions in 48 hours in anticipation of coming approvement of ETF, no matter from whom - BlackRock, Grayscale etc... Anyway, technically, market starts upward action after downside AB-CD retracement. By logic it has to be new extension swing to daily XOP target around 30K. Second - as major pullback is done already, BTC has not to show any strong pullbacks. That's why we have to keep an eye on 27.4K support area on 1H chart. Market has to stay above it to keep this scenario valid. Otherwise, recent rally will be erased and downside action deepened.
COINBASE:BTCUSD
by Sive-Morten
$QQQ The Precipice?We are nearing a meaningful trigger on the daily at cost basis above. This is in confluence with our downtrend channel. Tomorrow We will utilize the PBS to take QQQ to 375.50 if our levels above are reclaimed. If we stop and chop the rest of the day BUT HOLD the daily floor as reference, then next week will be above CB and we are looking for the 380s. Otherwise, the box we left is a box to retest, and with today momentum behind us, it is a possibility.
NASDAQ:QQQ
by PotterStocks-PBS
Market is nervousWell-well... We see downside AB-CD action that we've planned last week, but it has not started. Market right now is very difficult to analyse, because it is rather thin, trading volumes have dropped dramatically. And any single transaction could trigger big moves. Besides, recent drop is difficult to explain from external factors - US yields are dropping, everything is raising, except BTC... While it was going higher like a crazy on some phantom expectations of ETF, despite environment was bearish. It behaves neither like safe haven nor like normal risky asset. It seems that fluctuations are becoming random and triggered occasionally just based on some news release. Technically, now the downside AB-CD finally has started. Since we have acceleration on CD leg, I would wait for 26K area before even thinking about long entry. Besides, 26K lows is invalidation point of short-term bullish context. If BTC breaks it down, we will go under 25K.
COINBASE:BTCUSD
by Sive-Morten
27.2K seems vital for nowMorning folks, Technically we could say that situation remains bullish, as market is coiling right around daily resistance area and stubbornly doesn't want to show deeper retracement that we've discussed last time, so we haven't got better entry levels by far. From the fundamental background - we do not clearly understand reasons for euphoria. The sentiment is based on some blur expectations concerning ETF and other things. It is definitely not enough by our view to go against high interest rates, raising dollar and negative processes in the US economy, including global politics. Anyway, for now, since context remains bullish by far, if you want to buy - try to do it as close to 27K lows as possible, just to minimize the risk. If BTC breaks this level down - deeper downside action happens. While it stands in triangle - it keeps chances on upside continuation right from current levels.
COINBASE:BTCUSD
by Sive-Morten
Grayscale ETF hype has vapoured out fastMorning folks, As we've warned on Thursday - all this hype around Grayscale ETF is purely emotional and speculative. This topic just was used to shake the boat - that's all. Two days after everything returns back. As we've said already - we do not expect any rally if even Fidelity, BlackRock or whatever else ETF will be approved by SEC. Yes, minor emotional jump could happen but it doesn't change the fundamentals which are totally bearish for BTC. What really matter - is US yields, that are raising again. BTC recent performance looks bearish and we keep the same target valid - 24.7K, at least. We do not consider any long positions by far.
CShort
by Sive-Morten
27 and 26.40 for accumulationMorning folks, So, based on some recent news, which we think definitely are overpriced, BTC was able to show upside bounce. Our view that the major events are still ahead and 30K level should show whether the major rally starts or not. But, first - BTC has to get there. Now we have short-term bullish context and consider position accumulation around 27 and 26.40K support area, suggesting that downside retracement might be a bit deeper. Vital level for this setup is 26K lows. It price drops below it - upward action is over and we're going to 25K. If everything will be OK, then BTC should try to test 30K area.
COINBASE:BTCUSDLong
by Sive-Morten
SasanSeifi 💁‍♂️dusk / daily Hey there! 😊 ▫️ In the daily timeframe, as you can see, following the breakout from the downtrend line, the price has been accompanied by positive reactions from the $0.11 range. Currently, it is trading around the price level of $0.1200. An expectation we can have is that if the support range between $0.11 and $0.1060 holds, we might witness positive fluctuations toward the resistance levels, as indicated in the image above.💹 ▫️ Additionally, if the price falls below the support ranges and maintains itself below, there could be a higher likelihood of a more significant correction. ✨What's your opinion? Do you agree? 🔵Remember, always conduct your own analysis and consider other factors before making any trading decisions. Good luck!"✌️ ❎ (DYOR)...⚠️⚜️ Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help! if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
by SasanSeifi
SasanSeifi 💁‍♂️BTC daily / updateIn the daily timeframe, as you can see, based on past analysis, after a correction from the important resistance zone, the price started moving positively and is currently trading around the price range of $26,900. From a technical perspective, the previous report remains valid, and in the long term, we might witness a price correction towards the correction targets in the price range of $22,600. Currently, the key resistance levels ahead are $27,300 and $27,800. Possible scenarios to consider are as follows: If the price manages to break above the important resistance levels on the daily timeframe and holds above them, there's a possibility of further growth towards the liquidity zone at $28,200 and the supply area at $29,200. In this case, keep an eye on how buyers respond, as a confirmation of selling could result in a price rejection.❗ On the other hand, if the momentum weakens and confirms on lower timeframes below the resistance levels at $27,000, we might observe a price correction.❗ ✨What's your opinion? Do you agree? 🔵Remember, always conduct your own analysis and consider other factors before making any trading decisions. Good luck!"✌️ previous analysis👇
by SasanSeifi
25.8-25.9K targetMorning folks, Any rally are rejecting fast due to overall fundamental background. And this is not surprising when you have 10-year yield around 4.6% (which will be 5% within a month, we think) and collapse on stock market. As you could see recent rally has been rejected fast. Now we have few targets, but nearest one is based on bearish engulfing pattern, which we treat as the nearest one. It creates Agreement with Fib level. Thus 25.8-25.9K is the nearest thing to watch...
COINBASE:BTCUSDShort
by Sive-Morten
27.4K still on the tableMorning folks, Situation has not changed significantly since Thu update. We still keep our short-term upside target around 27.4K. Now price is coiling around 4H K-resistance after completion of COP target (0.618 AB-CD extension). Here we have two bullish signs. First is - tight standing right under the level suggests attempt of breakout. Second - we have bullish dynamic pressure when MACD goes down while price is not. It points on the same. That's being said, until next update on Thu, BTC should try to break resistance up and touch 27.4K target
COINBASE:BTCUSDLong
by Sive-Morten
LTC Short-Term 1HIntervalHello everyone, let's take a look at the LTC to USDT chart on a one hour time frame. As you can see, the price is moving above the local downtrend line. After unfolding the Fib Retracement grid, we can determine a support zone from $63 to $62, then we have a second zone from $60 to $59, and then strong support at the price of $57. Looking the other way, we see that the price is struggling with the resistance zone from $64 to $65, then we have resistance at $67, and then strong resistance at $70. Looking at the CHOP indicator, we see that there is still some energy to continue the upward movement, while the RSI indicator is approaching the upper limit, but we also have some room to go higher.
by cryptodailyuk
27-27.4K is possibleMorning folks, BTC now is living from one news to another, with record low trading volume and no interest to the market from investors. Despite any short-term spikes, BTC has nothing to offer when Fed rate is around 5.5 and forward stock market yield is already lower than short-term T-Bills one. It makes us think that long-term bearish tendency is intact. In short-term, market has some upside momentum, after completion of our 24.7 XOP target and grabbing stops under 25 lows. Based on this momentum, it could try to climb slightly higher, to 27-27.4K area. But before this happens, we suggest that BTC will show deep retracement, so we should get new "C" point for our AB-CD upside pattern.
COINBASE:BTCUSD
by Sive-Morten
1
Analysis of BANKNIFTY index on Daily chart (1D)Looks beautiful on the daily chart... I'm happy to see the breakout candle of the H&S pattern trendline (pink line)... Now, we can see the higher resistance shifted to 45300 / 45900 and support is shifted to 44500 / 44100 It's just a view of what I observed on the chart. I'm sharing my observation on this platform purely for education purposes and It's not a trading idea. I'm not a SEBI registered technical analyst, so consult your financial advisor before trade and trade based on your own knowledge and risk management...
NSE:BANKNIFTY
by jaydeep984trivedi
Nothing to change - 24.7K on the tableMorning folks, BTC is totally dead, very anemic and tight action. 54% of all transactions now is just deposit/withdrawal operations from broker accounts... We have three reasons to keep our bearish scenario and 24.7K target intact: uncompleted downside AB-CD (XOP) target, signs of bearish dynamic pressure (MACD is bullish while price action is not) and high level of the US bonds yield. Whether pullback will happen or not - we will see, but definitely not before 24.7K target been reached.
COINBASE:BTCUSDShort
by Sive-Morten