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Relative Strength Index (RSI)

It seems to be time for the Digital Gold to take Breath.After having a decent run for the past 12 months Bitcoin seems to get some relief for the sake of its healthy and strong uptrend movement. So What do we have in the market right now? In this post I will cover the scenarios related to the 1D time frame. As we all know the space we found in crypto is so much dependent on fundamentals the ETF was one big thing which runs the market for the past 6 months. And as we all know the game is played holding the motto "Buy the Rumor, Sell the News" most of the long position holders are going short and might as well be moving to CRYPTOCAP:ETH - the next contestant to get an ETF approval. For now Bitcoin just showed a bearish sign forming a rising wedge break out and MACD turning bearish for the short term. Besides a bearish divergence is already formed if you can see on the chart depicted by the yellow broken line. A retest of the rising wedge support line is possible while bulls try to get the throne back again. In addition candle stick behavior is also showing bearish sentiment if we consider the recent moves CRYPTOCAP:BTC made forming an inverted hammer like with a strong bearish candle formation. For now I am seeing CRYPTOCAP:BTC correcting in the short term. I will be updating which prices to watch closely. If things go as expected in the same manner as it is the breakout confirmation will most probably take Bitcoin to the recent 50% fib level at around $37K area. After watching out for the retest move and considering the ichimoku cloud on the lower time frame will be our confirmation.
Short
by cryptotalk_et
Bitcoin(BTC): ETF Is Live = As We Told No Pump!!Upon ETF life price of BTC has had an amazing drop where sellers (Bears) took over that FWB:48K zone which led price back to as low as FWB:46K zone. Currently, we are going to see most likely a test of $45K zone, depending on where we are going to look for a potential breakdown! As ETF is now live, nothing changes—we still trade, we still short this one. So waiting for the $45K zone and entering inside that tunnel we have there from here, we want a steep downward movement to start! - Let's see Swallow Team
BITSTAMP:BTCUSDShort
by SwallowAcademy
16
Bitcoin(BTC): Broken Trend (Drop Incoming)The first day of the week is already showing some surge to test that major $40K zone, which is the last zone that holds the price up as of now. Upon successfully breaking that zone and securing that $40K zone, we are not seeing any other support from there on, which means we are going to move to reclaim the FVG zones. Although the setup looks very good, we always have to wait for further confirmations (which in current state is the breakdown of $40K zone) Swallow Team
BITSTAMP:BTCUSDShort
by SwallowAcademy
Bitcoin Bullish Outlook for January 2024INDEX:BTCUSD is currently inside its bullish channel. My target is $51k still the same as my previous outlook. RSI is showing exhaustion on the daily chart but i still expect it to hit the upper channel trendline first before a pullback. It is a one last push before a relief pullback. Hopefully when the price of Bitcoin drops, Ethereum and the rest of altcoin will still rise. That signals altseason because the money flows from bitcoin to altcoin.
INDEX:BTCUSDLong
by UnknownUnicorn25768508
Bitcoin(BTC): We Getting Ready For Another Drop!While Bitcoin has had some moody moves with a punch of quick up and down moves (on a smaller timeframe), we are seeing a nice small correction that has happened on Bitcoin, where currently we are again seeing weakness at the beginning of this day. As we are back in our upward tunnel and yet we did not fully re-test those upper zones, we might see an early downward continuation of the movement. Eyes are open, for sure, here. Many have been asking about the "bullish movement." As of now, we are not seeing any good reason for bullish movement to happen!
BITSTAMP:BTCUSDShort
by SwallowAcademy
2
Ethereum(ETH): Will We Head Towards $3500 Soon? We are back with the ETH coin, where we see that after that major breakout near $2150 we had, a clean re-test price seems to be ready for another bullish movement sooner or later. As we are getting closer to the close of the yearly candle price, it seems to act like a "calm before the storm," where the price is making minimal moves but still teasing both buyers and sellers. We are looking at a bigger picture here for a potential bullish movement after breaking that upper resistance line (orange line). Once. we break and secure it we should be good for long-term movement towards $3500
Long
by SwallowAcademy
Bitcoin(BTC): We Had A Dump, Did You Sell Like We Did?The new week is here, and the first day is looking promising for bulls, but is it enough for a push?? Let's be honest here: prices were way to high and still are (pre-halving push is not good for BTC) We are seeing this as a nice start of downward movement here and we see almost zero to none chances of price reaching $50K as of now (but who knows, we might change our mind about it as we have to judge the coin in its current state) One point of interest for us is also the $45K zone, which might be re-tested one time before further movement, so eyes open at that zone. Overall, we are still seeing further movement to the FWB:36K zone at least.
BITSTAMP:BTCUSDShort
by SwallowAcademy
So far we are repeating 2019 Scenario!Mid-Cycle Top? So far we are repeating 2019 Scenario Same RSI overbought level🔻 Same rejection off the Major Resistance🔻 All I think we need to see a correction for 💰 $BTC. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Short
by CobraVanguard
2
Bitcoin(BTC): Another Rejection At $45,000With the new weekly opening, we see another week (the last one) closing below the strong resistance zone at $45K. Resistance is holding strong, and the new weekly is showing yet further weakness. Sure, ETF news and rumours are putting some uncertainty into traders, but nevertheless, one thing is sure: wealthy people would benefit more from rejecting or postponing the ETF. With that being said, we are still looking for BTC to go into the liquidity grab zones. We personally are still short.
BITSTAMP:BTCUSDShort
by SwallowAcademy
2