Get started

Daily Charts

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
Keeping the same scenarioMorning folks, Last time we said - no longs until bearish daily grabber is valid. So, it is still valid. But if you do not want to wait when situation will be resolved, or by any other reason you would like to buy - here is the life hack. ;) On 1H chart we have clear "222" buy shape with 56.70K target and strong K-support area. So you could try this strong area and try to take long position. Once minor bounce will happen - move stops to breakeven. So this strategy could let you to minimize risk or even to get some small profit if you're totally wrong. For taking the short position - it is necessary to wait for the bounce, because BTC right now is near strong support area.
COINBASE:BTCUSDShort
by Sive-Morten
No longs until 63K is takenMorning folks, So, Thursday plan worked nice - market was around 63K. Now situation is a bit tricky. First is, geopolitical situation is coming to the boiling point. Any activation in Iran will make negative impact on BTC, besides [b ]we have bearish grabber on 10-year bonds , suggesting drop back to 3.65% level. So geopolitical worryings are not in vain. Gold is opened up today as well... Besides, on BTC itself we also have bearish grabber. Situation with sell-off in Japan is also not clear by far. And we get GDP numbers this week. So, BTC could become ones again the major sell-off victim. That's why, until market keeps daily grabber valid we stay aside from any long positions. This risk will be erased if price jumps back above 63K area again.
COINBASE:BTCUSDShort
by Sive-Morten
1
57-59K to sellMorning folks, Wow, we've talked about just 60-61K pullback, but BTC just collapsed and has become once again the victim of sell-off. Investors sell "bad assets" to plug holes in balances of "good assets". And from this point of view - BTC is a "Holy cow" of this process. Besides, when 30% of the market is controlled by ETF, I wouldn't be surprised by any action. D. Trump needs as many BTC as he could get and he needs it cheap, so... BlackRock&Co still has a lot of job to do... Obviously patterns that we've discussed last time - just have not been formed, market just dropped, no H&S. So, based on daily picture, BTC is oversold now, but in perspective it is aimed on next downside target at 43K area. Now we're watching for technical bounce, at least to 57-59K area, where we return back to discussion of short entry. Scalpers could try to buy this bounce, if any bullish patterns will be formed on 1H and below. I mark this idea as bullish, because we're watching for the bounce. But our major view is bearish in longer term. Take care.
COINBASE:BTCUSDLong
by Sive-Morten
Watching for 59-60K areaMorning folks, So, retracement that we've discussed on Mon is started, although we thought it will be from 71K area. But M. East escalation has triggered sell-off in risky assets, and even J. Powell comments was not able to support the market. Now, although our 3-Drive pattern still seems theoretical possible, chances stand in favor our 2nd pattern - H&S. So, if you trade on daily and above time frames, I wouldn't hurry up with entry right now. It seems BTC could drop more. At least we could consider next support of 59-60K area. Just keep an eye on H&S... If you're intraday trader - you could consider bullish setups around potential neckline with two upside targets - 66K and 65.7K . They are resistance on 1H chart: Later, it is possible to consider short position as well, with the H&S pattern. It's obvious.
COINBASE:BTCUSDLong
by Sive-Morten
71.65K is the next oneMorning folks, So, our daily bullish setup has worked perfect - grabber has been formed and everything has started. Now BTC in fact has a free space right up to the ATH. So, we suggest that it should be aiming to challenge it. Still, we have another tactic resistance area - trendline on daily chart, based on tops. If we take a look at 4H chart and suggest 3-Drive "Sell" pattern, then it perfectly agrees with the 3rd Drive level - ~71.65K IT doesn't mean that we expect reversal there, although pullback is possible. We just use these extensions to estimate next upside step that BTC could make. Suddenly US bonds yield has dropped sharply which is supportive factor for BTC. Currently we do not see any bearish signs and suggest that BTC will try to reach ATH, if of course coming Fed meeting will not break the game...
COINBASE:BTCUSDLong
by Sive-Morten
Setups for any tasteMorning folks, So, as we've said - don't upset if you missed long entry as we will get the chance later. Now retracement is under way. WE have a few different trading scenarios. First is, those who would like to buy - our B&B "Buy" trade stands very close. Today we could get bullish grabber on daily chart that will be quite welcome. On 4H chart the B&B could take the shape of H&S, or, better to say, its right arm. Thus, those who wants to Sell - keep an eye on 66.50-67K area, where potentially right arm should be formed. Scalp traders also could watch for the bounce from the neckline to the right arm's top, say on 5-15 min chart, patterns etc., as usual. It is the only tricky moment concerning the neck. And this concern is based on 1H downside AB-CD. The problems is CD leg acceleration. The 1.0 AB=CD target is done already, and BTC could try to turn up right from here. But, acceleration tells that 1.618 target might be reach, which is around 62.25$. So, the compromise decision might be is to split position in parts and take it gradually...
COINBASE:BTCUSDLong
by Sive-Morten
GBPUSD - LONG (DAILY RESISTANCE BROKEN)good evening traders, this is my setup looking at the GBPUSD. clearly shows a nice strong trend that has now pushed the barrier of the daily resistance level. can we look to push forward? i'm looking to plant my seed where shown on the chart and the signs during this pair shows perhaps my little seed shall become the full plant over the giving time! let me know what your thoughts are? perhaps show me some further detail on what you think? thank you!
Long
by RJLfamily
1
Waiting for the deep to buyMorning folks, So, reaction on Biden's out is humble. Not only on BTC but across the board. Today it is a small update as nothing has changed significantly. Finally BTC has broken 66K resistance and now, officially, bearish weekly pattern is cancelled. At the same time, despite minor pullback, we haven't got clear H&S shape that we've counted on. Still, I prefer to wait for deep to buy rather than jump in running train. Previous bearish momentum is still here. Following this logic we could monitor intraday bearish patterns. Not for trading but to recognize starting point of retracement and estimate possible downside target. For now we could get either 3-Drive "Sell" or H&S, if BTC starts dropping right now. Other words speaking - context is bullish, we consider long entry, but watching for proper levels. Of course you could follow your own alternative strategy. Upside nearest target is the same - ATH.
COINBASE:BTCUSDLong
by Sive-Morten
Price has changed but the plan is the same 60.5-61.3KMorning folks, Not many things to talk about. BTC slightly stepped out from our plan, shown direct upside action to 65K resistance area. But it changes nothing - we have the same trading plan and wait for moderate pullback, supposedly with H&S shape. Now we change the potential entry level from 59-60K up to 60.5-61.3K... Let's keep watching. The role of 65-66K remains the same. Upside breakout will mean the road to the ATH and its challenge later in the month.
COINBASE:BTCUSDLong
by Sive-Morten
Under 60K BTC has bearish contextMorning guys, So, our idea with the upside bounce has worked perfect. Now price stands at strong resistance of 60K area. Until it stands below this level we suggest that bearish context remains. To start thinking about changing of the sentiment and consider long positions we need to see BTC somewhere around 64K and breaking through 60K strong resistance level. Today probably we could wait until CPI numbers will be released, but in general 60K resistance is rather strong, so here we could consider short entry again with moving stops to breakeven as soon as possible
COINBASE:BTCUSDShort
by Sive-Morten