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Bitcoin Rejects $40K!!Bitcoin seems to have rejected higher prices for now, retracing back below the $40K handle. It appears that the $40K's were too much for BTC to hold for now, and as we suggested in yesterday's report, it found support exactly at $37.7K. Currently it is catching a bit of support confirmed by a green triangle on the KRI just above $37.7K. The Kovach OBV has started to drift downwards, but it does not indicate the momentum of a proper crypto dump. If we do see the selloff continue then $36.7K and $34.9K will provide further support. If we can see more momentum, then we should be able to regain the $40K handle.
BITSTAMP:BTCUSDLong
by quantguy
Bitcoin Retraces!!Bitcoin tested $41.9K over the weekend, but we were unable to break this level and we retraced back to $40K. Currently, we are finding support just under $40K, which will now provide resistance. There is a vacuum zone below to $37.7K, and immediately after that we will find further support from $36.7K. The Kovach OBV has dipped slightly to reflect the retracement, but is still relatively strong. If we are able to muster the strength to best $41.9K, then our next target is $45K
BITSTAMP:BTCUSDLong
by quantguy
1
Bitcoin Breaks Down!! 📉Bitcoin has broken down from a pennant consolidation pattern. We are currently finding support at $38.4K which could mark the formation of a new technical level. It appears that BTC is just not ready to break through the $40K boundary which has proven difficult for it and remains a hard upper bound to its recovery. If we can't sustain current levels, we will find further support in the mid $30K handle at $37.7K and $36.7K. If we can muster another burst of momentum, then $40K is still the level we must break to confirm that we are back to bull mode
BITSTAMP:BTCUSDLong
by quantguy
DOT/USDT is massively undervaluedPolkadot is one of the most undervalued high cap coin at the moment. Currently, more than 450+ projects building on Polkadot. This could easily overtake Cardano's spot. Currently down 70% from ATH. Best time to accumulate much as we can. If DOT stays within the uptrend we could see a new ATH with 3x 5x growth from the entry at the end of this year. This prediction is more suitable for long term investors and anyone looking to accumulate more DOT. This is not financial advice. Please DYOR on fundamentals
Long
by CryptoCafeClub
1
Bitcoin Breakout Soon??Bitcoin retraced 50% of the Amazon rumor move, but even after Amazon confirmed it will not be taking crypto payments, it has returned to test the extremely significant $40K handle. This is a significant psychological level, and was a barrier to BTC for some time. The Kovach OBV has turned up sharply with this momentum, and we could be on the cusp of a breakout. We have two levels above that will provide immediate resistance, but after that it should be smooth sailing to $45K. If not, lower levels at $36K should hold.
BITSTAMP:BTCUSDLong
by quantguy
Momentum Back for Bitcoin??Bitcoin has made a comeback, finding support just above $28.8K, which was a level projected using inverse Fibonacci levels anchored by last week's range. We have currently broken resistance and have achieved the $30K's once more. In fact, we are now just above $31K, which was the lower bound of last week's range. We are still witnessing some momentum here, but are in the middle of a vacuum zone to $32.3K. Anticipate resistance from this upper bound. The Kovach OBV has gained notable strength, but we still have a few key levels above to break before we can safely be assured that genuine bull momentum has returned to the crypto markets.
BITSTAMP:BTCUSDLong
by quantguy
3
Bitcoin Start Of New Multi-Year Bear Market? I Don't Think So...There have been many people calling for a sub $20,000 Bitcoin and the start of a new multi-year bear market? I do not believe that will be the likely scenario considering we have already crashed and the major selloffs have already happened. I highlighted the 3 most major sell of volume sticks since 2017. It has been clear this period has been turning out to be a consolidation phase in the market as we continue to move sideways waiting for a strong move to the downside or upside. Consider this: * Buy and sell volume has been getting very low. * We now have over 200 days of support trading above $30,000 * We only have 28 days of support between $18k - $20k. * $30,000 is a way stronger and more important support level than $20,000. * Tesla has not dumped their Bitcoin Holdings. * Intuitions are still more interested in Bitcoin than ever before despite the volatility and crash. * Bitcoin hash rate has slowly been recovering. * This is the longest period of extreme fear registered from The Fear & Greed Index ( We are still continuing to be extremely fearful). * Bitcoin mining is continuing to become more renewable and miners have been re-locating mining outside of China at a rapid rate. * On Chain Metrics indicate large whale addresses have been accumulating between $28k - $30k. * This most recent crash has been the biggest in crypto history considering the amount of money that has left the space (1 Trillion in under a month). * Countries adopting Bitcoin as legal tender will continue to grow. * Bitcoin is becoming more desensitized to Elon Musk and China FUD. * Crypto luxury transactions accelerate at Sotheby's. * Sotheby's recently sold a rare 101.38-carat diamond for $12.3 million in cryptocurrency. I say all of this because market sentiment is what drives price. This market has matured greatly since the last bear market. We will come out of this state of extreme fear, uncertainty, and doubt in the months to come. We are now back at them bottom of $30k. Can we go lower? Yes but how low? We're still in a downtrend and the charts are pointing down. Expect another drop to $28k as long as we're still in this phase. I don't believe we are starting a multi year bear market "just yet". The fundamentals going forward are more way more bullish than bearish throughout the rest of this year. If you're at a loss I'd just say continue to HODL through this and be patient. Think about the bigger picture and believe in your investment. This is the future of economics and finance. The bears want you to sell at these lower prices and want you to believe Bitcoin is back on its death bed. Most of my portfolio is staked throughout this period. Much peace, love, health, and wealth everybody.
COINBASE:BTCUSDLong
by peacefuljustin