Get started

Daily Charts

SasanSeifi|Is a Breakout Looming? Watch the 0.35 Resistance!Hey there, ✌ In the daily timeframe, as you can see, the price has entered a consolidation phase between 0.25 and 0.35 cents after a downward trend, maintaining the 0.25 cent level for nearly five months. Currently, the price is trading around the descending trend line at 0.31 cents. If we see demand and a breakout above the significant resistance level of 0.35 cents, and it holds, we can expect the price to rise towards the target of 0.40 to 0.42 cents. To understand the continuation of the trend, we should monitor how the price reacts at the first target. We may observe a pullback and then a renewed rise towards the supply area of the second target at 0.47 to 0.50 cents. The crucial support level remains at 0.25 cents. If the price does not behave as expected and breaks below 0.25 cents, the likelihood of further correction will increase. This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
Long
by SasanSeifi
BTC is a victim of liquidity problemsMorning folks, So, we've planned just perfect last time, and BTC actually has dropped but much faster than we thought. It was not even able to form the right arm of H&S pattern and collapsed. But don't search the explanation on cryptomarket. The reasons are more pragmatic - short-term liquidity fall in the US. First is BofA collapse yesterday, then SOFR rate has jumped above RRP. Sea ports are under strike, which also bring a mess in mutual relations of all counterparts. So, current BTC drop is a pure run into liquidity. We do not know when it will be over, hopefully soon. But now we do not consider any longs and prefer follow to the market and see what reaction will be around strong support areas. Next one is 58K
COINBASE:BTCUSD
by Sive-Morten
63K and 68.75K to watchGreetings everybody, Just on Thu we've decided to be cautious about any bearish positions as market was behaving not typical, BTC has made drastic changes on Friday. A lot of bullish signs now. It means that currently we have bullish context. Our nearest target is 68.75K. Meantime, market has hit local 4H H&S target and now shows the response. Here 63K looks interesting for long position taking - trend line support and 3/8 Fib level. Besides, if later this construction will shift to H&S - we should get upside bounce in a way of right arm, so chances to move stops to breakeven look as good. Another pattern that might be formed - upside 1.618 3-Drive and BTC could start upside action earlier than 63K. If you want to foresee this either, one of the options is to split position in parts and take small part first, say, 30% of normal trading lot. Take the rest if BTC hits 63K support.
COINBASE:BTCUSDLong
by Sive-Morten
Watching for the same 60.5K areaMorning folks, So, the plan that we've prepared last week mostly stands the same. In fact, BTC has decided first to complete upside nearest AB=CD target, and starts retracement second. So, although we were waiting for pullback on previous week, it is starting only now. Here, on 1H chart you could see potential H&S pattern. We do not call you to trade it, because our primary context is bullish (although you can if you want). Here we're mostly interested with its fruits - downside pullback somewhere to ~60K support area. Which we think might be interesting for long entry later in the week. Cheers.
COINBASE:BTCUSD
by Sive-Morten
Watching for 57-57.5K levelMorning folks, So, upside target of last week around 60.5K is done, H&S worked very nice. Now, I suppose, it makes sense to wait a bit and see what will happen around 57-57.5K support area. Reason is simple. Technically BTC keeps door open for both scenarios. Supposedly the Fed statement should be dovish and supportive to BTC, but only if they either change rate for 50 points (that I have big doubts about) or will tell something very dovish on conference. Right now we do not have any clear signals. So, our choice is to wait when market hits support area, then watch on 15-30 min charts for any bullish reversal patterns. If we get any - it will be possible to use them for long entry. If not, or if the level will be broken - it would be better to forget about long entry for some time.
COINBASE:BTCUSD
by Sive-Morten
BTCUSD: Revisiting 58K, Eyes Still on 61K - 62KGM crypto bro's, this morning the Fear and Greed Index is back in the fear zone, while the stoch RSI seems tired of being overbought and may be dropping towards the oversold area. Looks like BTC is not in the mood to hit 61K - 62K this morning and is just hanging out around the 58K range again 🗿. Based on today’s price action, there’s a possibility of a drop back to around 57K, but the potential pump to 61K - 62K is still our target for now. Remember, the market is dynamic. Don’t be FOMO, stay safe, keep calm, and always remember that anything can happen in the crypto market. Always maintain your risk. And as always, that’s the crypto update for today. It’s Akki, signing off with one chart, and have a nice day.
INDEX:BTCUSD
by x_Akki
Pullback to 60.3KMorning folks, Probably I should make it as an update of previous idea... anyway... BTC shows upside bounce from the 1st 52K target. The pullback obviously is taking shape of reverse H&S pattern. Thus, the setup #1 for scalp bulls. You could think about this pattern, and its target around 60.3K For the bears it is nothing so far. You should watch for 2 moments - either H&S failure, or its completion around 60.3K Fib level and consider any ways for short entry there, if we get corresponding trading setup. For now it seems early to bet on downside continuation.
COINBASE:BTCUSD
by Sive-Morten
50.60KMorning folks, So, BTC was so weak that even was not able to form the H&S pattern. Not as bad job data just pushed it below the floor... There are a few bearish signs exist now on higher time frames as well... So, obviously we do not consider by far any long positions. Maybe everything is not as bad yet to consider 44K downside target on 4H chart but... here on 4H chart it is quite possible to consider 50.6K next downside extension. Once it will be completed - keep an eye on major lows here. To keep bullish chances, BTC should not break it down. Otherwise downside action could become faster in nearest 1-2 weeks. Take care.
COINBASE:BTCUSDShort
by Sive-Morten
The same H&S planMorning everybody, actually I'm not sure that we need the "new trading idea" here, because this is just update on existed one. Everything goes with the plan. Now BTC comes to the neckline, and intraday bulls could start watching for small 15-min reversal patterns to make a decision on long entry. Target is the same - 61-62K, the top of right arm of our H&S pattern. Those who trade on daily/weekly basis just do nothing and wait for this area to consider short entry.. So let's mark this idea as "Long", because we're watching for 61K action, but as you understand overall setup is bearish...
COINBASE:BTCUSDLong
by Sive-Morten
1
61-62K for short entryMorning folks, BTC was not able to escape mass revision of public opinion, concerning next Fed move. Not occasionally last time we've expressed doubts that BTC could reach 67K target. Here we will not speak about all bearish signs that we see. To keep it short we have big bearish engulfing on weekly chart which makes us think that H&S pattern on 4H chart is very likely. Thus, scalpers could watch for 55K area for potential long entry. While our base scenario stands for the daily chart and it is bearish. We intend to watch 61-62K area for potential short entry. Although pullback to 61K is possible, I mark this idea as "bearish" based on our primary object
COINBASE:BTCUSDShort
by Sive-Morten
Is it really to 67K now?Morning folks, So, we've got what we wanted - BTC dropped and not only to 61K but slightly lower, to 59.5K. The major question now is whether we indeed will go to 67K or deeper retracement comes? In fact, riddle is relatively simple. BTC now stands at strong intraday Fib support area. To keep bullish context, it has to go up right from here. In this case 3-Drive "Sell" might be formed, but it starts right from 67K target. Yes, the big uncertainty exists, as recent drop was relatively fast. But at the same time, risk is not too high as market stands near the possible lows. IF, still downside drop will happen, it will mean that we get deeper downside retracement. Current setup is not perfect, but it has some attractive sides. To take part with it or not today is up to you. It has more uncertainty that our usual setups.
COINBASE:BTCUSD
by Sive-Morten
BTC Technical analysis: BTC has experienced a sharp rejection near the $60,000 mark, as indicated by the strong red candle in the last few hours. The RSI has dropped significantly, moving from overbought territory back towards the mid-40s, signaling a potential slowdown in buying momentum. The MACD also shows a bearish crossover, with the histogram dipping into negative territory, suggesting that bearish pressure could intensify in the short term. Watch for support around the $58,500 level; if it breaks, we could see further downside.
Short
by Crypto_CAT1
Indecision situationMorning folks, So, pullback that we've discussed on Thu has happened. But now we have two equal patterns on daily chart but in opposite directions. Our elder bearish grabber and new one on the bullish side. If you conservative enough - it would be better to stay aside and wait for clarity. We suggest that bearish pattern looks a bit better, just because of intraday price shape. All upside swings look slow and choppy. At the same time, it doesn't mean that you can't try to trade bullish pattern. Take a look that here we also have reversal bar, suggesting that BTC could move slightly lower. If you want to buy, you could try to use it to open position as close to the grabber's lows as possible. Just to minimize potential risk. If, still, we will be correct concerning bearish domination, next downside target is 54.35$ Fib support.
COINBASE:BTCUSD
by Sive-Morten