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How Long Will Bitcoin Range??Bitcoin has been maintaining the range, bouncing back and forth between $28.8K and $32K or so. Bulls seem to get hopeful every time there is a small rally, but we have not seen any follow through for almost a month. The level $32.3K remains a hard upper bound, and our most recent rally fell short of even that. There is a red triangle on the KRI just below this level around $32.0K, and an immediate rejection followed. We are currently hovering at support at $30K or so, and if the range continues we are likely to test $28.8K or $27.9K again.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Rejects 'Bull Trap'The Bitcoin rally turned out to be a fakeout, as we stressed here in these reports. Hopefully, no reader got caught in the 'bull trap' as we've done our best to warn you. This range has continued and there is nothing to indicate a proper bull rally in crypto on the horizon. Until then its range trading, unless a serious bid comes through in stocks, perhaps. We've given up $30K again, immediately seeking comfort in the $29K's. We are hovering just above our level at $28.8K, with $27.9K sure to hold just below that if needed. The $30K's remain a barrier with $30.2K and $31K likely targets if we do catch a rally, with $32.3K a hard upper bound.
BITSTAMP:BTCUSDShort
by quantguy
2
Small Rally in Bitcoin 🥱A small rally in Bitcoin has gotten traders hopeful, however we feel this is nothing to write home about. We have not even been able to test the relative high at $32.3K. We have barely cleared $31.0K, before meeting strong resistance confirmed by red triangles on the KRI. If we do not see significant momentum follow through, then we are sure to test lower levels at $30.2K, then $28.8K or even $27.9K. If we are able to break through $32K then our next target is $34K.
BITSTAMP:BTCUSDShort
by quantguy
ETHUSD: BearishHello Traders and Investors, Crypto and markets overall haven't been looking good all year. We can clearly see that ETH had a head and shoulders pattern that broke the neckline. I am expecting the price to continue to move down in the coming days and weeks. We will have a small relief rally once the target is reached. I am waiting til then to go long if opportunity presents itself. However, I do believe BTC will head back to 20k at some point. So whenever that happens we will start accumulating more ETH for the long hold. If the price continues to dip, we will buy more ETH and hold for the next bull run. It will come like it had multiple times in the past. Thanks
COINBASE:ETHUSDShort
by Abdorhman-Thi
Bitcoin Rejects $30K Again!Bitcoin has edged higher with the stock market rally, but faced strong resistance in the low $30K's, immedately rejecting back down to $29K. We noted red triangles on the KRI during yesterday's rally, suggesitng that it was encumbered by resistance, and did not have the momentum to continue. Range trading, playing the upper and lower bounds of the value area between $27.9K and $31..0K seems to be the best bet for now, as this range has held for more than two weeks, with the exception of a brief foray testing $32K. The Kovach OBV is almost completely flat, suggesting we need serious momentum to come through before we can hit higher levels.
BITSTAMP:BTCUSDShort
by quantguy
We were Skeptical of the Bitcoin Rally...We warned readers that the Bitcoin rally may be short lived and that we were skeptical of the bull run. Sure enough, Bitcoin gave up up the $30K's where it appeared to be establishing value and collapsed right back down to the high $29K's. It is currently in the value area that it had held for two weeks, after the huge selloff on May 12th. The Kovach OBV is still relatively flat, so Bitcoin is likely to hold this range, between $27.9K and $31.0K until more momentum comes through either way.
BITSTAMP:BTCUSD
by quantguy
Bitcoin Breaks Out!!Bitcoin caught a nice rally as crypto saw an influx of buying momentum from the stock market rally. We were finally able to break through $31K, which was a hard upper bound for a two weeks. We were able to hit our next target at $32.3K, with a wick barely touching it before retracing to the mid $31K's. So far, the targets in these reports were spot on. Recall that we predicted the first target to be $$32K, with a ceiling at $34K. The Kovach OBV has edged up, but we are still skeptical of this rally until we can solidly break $34K. We should have good support at $30K, in the event of a retracement.
BITSTAMP:BTCUSDLong
by quantguy
Bitcoin Weakness 📉Bitcoin has slumped, but is still maintaining the range it has held for the past two weeks. The $30K's have remained a barrier for BTC, and we have tested lower levels at $28.8K and $27.9K several times. Yesterday, things started to look pretty gloomy, but $27.9K was able to provide support and we have since equilibrated. But highs are lower, and the Kovach OBV is tapering downwards, suggesting that if we do not see more momentum come through, we could break down again. If so, expect support at $25K, the low of the previous selloff. If that does not hold, we are clear to test the lower $20K handle. At this point, $30K is a significant barrier, but if we can break through, $31K is the next target with $34K an absolute ceiling.
BITSTAMP:BTCUSDShort
by quantguy
Dec 2020 Resistance is BTC's last chance to hold previous ATH.We have hit the rising channel target of 26K. If we lose this level again with volume support and confirmation candles we will test the 22K level we have not seen in nearly 2 years. Simply put, any 3-4 hour candle closes below this level is the start of a major capitulation. We will chart the Elliot Wave levels and areas to watch out for if this happens. Even if we get a weekend bounce to higher levels, these levels are still areas to watch out for. There is always a chance that BTC breaks out of this slump but it is not a coincidence that the whole crypto market is seeing this move to the downside. We ARE in a BEAR market. There will be pumps in a Bear market just like there are dumps in a Bull market, but do not let these moves fool you. It is now time to be more vigilant than ever before if you are a HODLer. If you want to make money shorting, go ahead and short the break down confirmations. If you buy right before any of these dumps, just hold because BTC will recover in the future. It is a great time to accumulate your favorite coins. Keep up with our charts to see more moves and price targets as the market gives us signals. HAPPY TRADING!!!
COINBASE:BTCUSD
by hbayatne
Bitcoin Tests Lower LevelsBitcoin faced an unfortunate selloff to the lower bound of the range it has been holding. We faced a sharp selloff from just below $30K back down to $28.8K. We anticipate further support from $27.9K if needed, but after that there is a vacuum zone down to $25K, the low of the selloff on the 12th. If we find support here, Bitcoin has been struggling with regaining $30K, and we expect this to continue until we see more momentum come through. But we have been holding this narrow range of less than $4K for over two weeks now. If we are able to break out, then $31K seems to be a hard upper bound for now, with $34K an absolute ceiling.
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Maintains the RangeBitcoin is continuing the narrow range we have identified over a week ago. We are bounded between $28.8K and $31.0K, hovering somewhere in between, just below $30K at the time of this writing. The crypto market got slammed earlier this month, with a selloff on the 11th and 12th bringing us down to an eye-watering $25K. We anticipate further support here should the market selloff further, which is a distinct possibility due to the fact that we are seeing very little buying interest and thin liquidity. We still consider these levels 'bargain' prices in the long term but the markets may not pick up until we test even lower levels.
BITSTAMP:BTCUSD
by quantguy
Bitcoin Maintains a Narrow Range 🥱Bitcoin has ranged between $28.8K and $31.0K for the latter half of this month. We have continued this narrow range since the selloff on the 12th, and are not seeing much momentum, or buying interest, especially considering these are 'fire sale' levels with respect to last month's prices. Though we could get a lift if risk on assets like stocks find momentum, these aren't showing much hope either. A further selloff could take us back to $25K, but after that, $20K should seem reasonable. We have a strong Fibonacci level at $19K which we feel is a floor for BTC. If we do find enough momentum to breakout, $32.3K should provide resistance, with the $34K's a likely ceiling for now.
BITSTAMP:BTCUSDShort
by quantguy
Our Bitcoin OutlookBitcoin is wavering in the low $30K's after a slow and gradual uptrend from $28.8K. Dedicated readers would have been prepared to buy at this dip over the weekend, as we have identified support here at $28.8K and $27.9K. We have held the current range for ten days now, after the dip to $25K on May 12th. However, the lingering narrow range, with lack of buying interest is not a good sign. If we cannot make another run for higher levels, then another dip is likely. A rally would find immediate resistance at $31.0K then $32.3K, with an anticipated ceiling of $34K. From below we have $25K to support if current levels do not hold. Longer term, $20K is increasingly becoming a reality, with $19K as a major Fibonacci level on the daily.
BITSTAMP:BTCUSDShort
by quantguy
The sexy blonde 2 lockers down :) COMP following the last week liquidations. I have decided to check out the number of On-Chain liquidations amongst major protocols. Comp turned out to be the biggest winner. Most users did not suffer during the retracement and retained their HODL capacity, not being margin called by the protocol. This is incredibly bullish in a Risk-Off environment as users seek safer investments and services. In matters of TA. The comp Token which is a governance token cannot get much sexier than this chart. My final target for comp and level I would be comfortable shorting is anywhere between 917-3615$. By this I mean I would only close longs untill the valuation stands above 3615$! By far the sexiest chart in the defi field. Will be longing it now, DCAing, hodling for the long term. I may have found myself a new crypto wife :P #LOOOOOONG
Long
by TheBitcoinGeneration
1
Another Dump for Bitcoin??Bitcoin has picked up slightly, and has been able to barely sustain $30K. We are continuing a range between $28.8K and $31K. The Kovach OBV has flatlined, suggesting that this ranging will continue until we have more buying momentum come through either way. However, from experience, if there is such little buying interest as such bargain levels (respectively), then we are probably in for another dump. We should find support at $27.9K, but after that, there is a vacuum zone down to $25K. If we are able to break out then expect resistance at $32K then $34K.
BITSTAMP:BTCUSDShort
by quantguy
6
Bitcoin Looking Weak...Bitcoin has found resistance at $30K and given up entirely, finding comfort in the $29K's. The price action is rounding off, suggesting another dump may be in store for us. We have good support at $28.8K, then $27.9K if that breaks. Then there is a vacuum zone down to $25K, the relative low from the previous dump. If we are somehow able to gain momentum, then $30K will likely provide prohibitive resistance, then we will have more from $32K, then $34K which should be considered a ceiling for now.
BITSTAMP:BTCUSDShort
by quantguy
2