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Technical analysis update: BTCUSD (17th October 2021)BTCUSD reached high of 62 944.94 USD while several technical indicators started to flash warning signals. First, breakout at 48.8k USD and then at 53k USD occured in very fast and unnatural motion which suggests that these price levels were most likely manipulated with goal to lurk new investors into the market. Second, volume is way lower than in previous rally that took Bitcoin to all time high and professional investors are selling their holdings into hands of retail investors. Third, several technical indicators signal that price is currently overvalued. We change our stance from bullish to bearish . Similar setup is available in Bitcoin futures (BTC1!) Technical analysis Stochastic is bullish. MACD is also bullish, however, histogram started to decline slightly. Price deviated too far from its 50-day SMA . RSI left overbought territory and penetrated 70 points which suggests that price is elevated and due to correct. BTCUSD - daily chart with 50-day SMA and volume. It is easily observable that volume is considerably lower than in previous uptrend. Support and resistance Short-term resistance sits at 59 603 USD. Short-term support appears at 52 956 USD while Support 1 is at 48 834 USD. Support 2 sits at 39 573 USD while major support lies at 28 600 USD. Major resistance coincides with all time high at 64 895 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
9
Technical analysis update: BTCUSD (15th October 2021)BTCUSD trades slightly below 60 000 USD pricetag. We will observe whether it manages to break above this price level and stay there. It would be particularly bullish for BTCUSD and in such scenario we would expect BTCUSD to try new all time high. However, there are several indicators that reached overbought condition already. Therefore, we are very cautious. Technical analysis Stochastic is bullish. MACD is also bullish. Trend continues to be bullish, however, RSI reached overbought condition which suggests that price might experience correction soon. Support and resistance Short-term support sits at 59 603 USD. Support 1 appears at 52 956 USD and Support 2 at 48 834 USD. Support 3 sits at 39 573 USD while major support lies at 28 600 USD. Major resistance coincides with all time high at 64 895 USD. Previous thought from 6th October 2021: Here we noted that we changed stance from neutral to bullish. Previous thought from 4th October 2021: Here we presented interesting and very clear setup for BTCUSD. After that price bursted into bullish direction. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
7
The dangers of Leveraged TokensMost experienced traders know that leveraged tokens should be avoided at all cost. Exchanges advertise these products to ignorant traders who are afraid to trade on leverage, with phrases like "Now you can use leverage without the risk of liquidation!". Be aware that these products have been carefully designed to take your money, and then some. The underlying algorithms are incomprehensible for anyone without a higher level math degree (myself included), but a look at price action is all we need. While in theory you may not get liquidated, during certain events it is possible for leveraged tokens to depreciate immensely in value. This happened for example during the May flash crash, where a cascade of liquidations of the underlying assets combined with rebalancing events caused some leveraged tokens to loose up to 95% of their respective value. See the SUSHIUP token for example in the image below. The token dropped around 93% in a single day and is currently trading at a wopping -98.7% of their pre-crash value. While technically this might not be a liquidation, in practice this comes down to the same thing. To make matters worse, during the flash crash, DOWN tokens also took a nosedive leaving a legion of traders outraged. Binance say they warn against these types of major price drops during times of extreme volatility. They did however offer some (very meagre) compensation to those affected when agreeing to the condition that you would be banned from trading leveraged tokens ever again. For those still holding on to their leveraged tokens from before the crash in the hope that they will one day recover, have a look at the image below. The image shows what volatility does to leveraged tokens over time compared to the value of their underlying assets. The image shows the performance of ETH vs ETHUP (Binance), ETHBULL (FTX) and ETH3L (Kucoin) over a period of 4 weeks. Volatility (both up and down swings) eats away at the value of your tokens. October 8th ETH was trading at the same level as a previous high, the leveraged tokens not so much. In short, your tokens will never recover. Sell them at a high or top of a bull run and put your money elsewhere. Conclusion, stay away from leveraged tokens and just use 3X leverage instead, which also makes it near impossible to get liquidated anyway.
by BowserMan
5
@Shibtoken experiences another challengeThis time, SHIB is following my prior plan. Since yesterday, this is the only token that has risen in tandem with bitcoin, while all other tokens/coins have fallen. Looking ahead to the next movement, I'm evaluating 2-3 market motion options. We should prepare our backup strategy and risks now, given the current situation of the financial market. Look at the intraday setup for SHIBUSDT (pic below) — the price is in a bullish triangle, therefore it will only be a day or two before it reaches the 3400 target level. Cryptocurrencies are changing rapidly, so it's a good idea to have a backup plan in case things go wrong. Keep an eye out for lines and breakouts on the main chart, and you will be safe!
by ArShevelev
3
SHIB updateNot a financial advisor. We have been witnessing a great run so far, I personally see this continuing up more yet. Still want to see us get to that .0009 range from the Coinbase listing. We have hit .000025 and have been pulling back. In my opinion we will be seeing .00003 next with a bit more room to the upside if we do some retracements along the way. 30 minute chart looks good in my opinion. Still needs a bit of time before we run again. But all in all, this should be further uptrend from here. indicators look like they all had some breathing room, eager to see this next pop. Are we thinking Robinhood is listing? I like the looks of their chart, something could be up thats for sure. Either way, very happy to be here. And very early to this project as well. Chime in with your thoughts, always appreciate feedback and chatting with other traders.
COINBASE:SHIBUSDLong
by StofAxeCapital
5
SAND-USDT Long view (Gaming tokens rise)Hello all!👋 I was just looking at a chart of the popular gaming token owned by Animoca brands (SAND) 🔥 from the Sandbox virtual game 🕶🕹🎮📺 To me we seem t o be gaining support at the daily 0.618 Fib level and if this momentum in the market continues, I think gaming tokens such as SAND c an easily reach more great targets. (Gaming tokens during this time of extreme inflation , have been seeing substantial bullish price action) 🐮💲 Target depicted above is based on impulse wave extension. 🌊🆗 This is never financial advice, just my current view. 🐶 Coinmarketcap.com info : Market Cap $581,570,004 28.16% Fully Diluted Market Cap $1,976,801,702 2.08% Volume 24h $199,465,577 34.88% Volume / Market Cap 0.3424 Circulating Supply 882,592,326.22 SAND Good luck! Above are approximate targets based on fibs and major trend-lines etc. I always recommend looking at multiple charts when making a big investment. Always have a stop loss ✋🛑💲 set🆗 Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome. Jazerbay ☯
Long
by jazerbay
23
ALTCOIN REVIEW by Artem Shevelev — 10 August 2021Hey, in the past 24h altcoin market responded well to Bitcoin price rise. According to Binance exchange there is at least 10 altcoin pumped +20-70%. In this review I collected few altcoins which have not pumped too much, and located at relatively good point for buying / holding and profits might be amazing Before we go to alts, remember to use capital risk wise and calculate your maximum loss before trade. Let's go! First chart to watch is ICP / BTC ICP showing solid Adam & Eve bottom pattern and possible breakout from it, looking for levels above 1800 and might reach closely to 2000. If the price goes below 1300, I would recommend stopping the trade. The next chart is about GRT / BTC GRT is making a solid downtrend channel / wedge shape and might go for a breakout to retest the 2000 resistance zone. In the long term price can dip below 1300 where I located the next buy zone for holders. Keep your fingers crossed :) Third chart is for XTZ / BTC Tezos is holding well in the support zone, forming a nice wedge and might go higher in this resistance zone. I am looking for resistance near 8000-10000. But before reaching it, xtz seems to have an opportunity to reach the 6000 support zone, which is quite good for long-term buyers. And last chart for today is for MDT / BTC MDT chart located pretty low and gives nice range for making mid-term trades safe-side entry near 65-60 zone and with targets at 95 - 130 - 170 Keep your trades on the safe side, market conditions are constantly changing. See you in next updates Best regards Artem Shevelev
BITSTAMP:BTCUSD
by ArShevelev
2
BTC - Donkeys chasing one another up the PoleThe comedy of the Dunce believes "Inflation" is Bullish for BitCoin. No explanation as to why, simply the new Mantra. It has ZERO History to support this new Narrative. BTC Price is not just driven by the money-supply, but speculative forces. Forces aligned who's answer - "Buy BitCoin" it's the Future. It's like the Bro with the Show who sees nowhere else to go. TINA argument tee'd up again and again. It's become a religion, a Cult, a faith based squeamish of speculators who are too steeped in Dogma to consider the opposite POV. Entrainment. Crypto-Currency is comical - it is clearly not a Currency, unless you prefer to exchange one Token for another... But, but, but... Tesla and Amazon are... Wait a minute, were with respect to Tesla. Never with respect to Amazon. Back to entrainment... at some point the Riggers will begin to attempt to phase out paper Currency and instill the Banking Confetti... Not Currency, simply a Digi-Script based upon even less. I'm certain the BIS will embrace competition when this moment arrives.
COINBASE:BTCUSDShort
by HK_L61
5
BNB has pumped a lot and will pump even more!1. Biggest exchange 2. Exchanges coins are hot after getting destroyed harder than many others 3. Only other way to get exposure to exchanges as Coinbase IPO is hot 4. Natural demand from the products Binance offers 5. BSC has grown quite a bit and might grow even more as people migrate from other chains and especially Ethereum 6. Lots of BNB trading pairs and BNB is listed on several exchanges and can be used outside Binance Chart looks super strong, with the previous ATH in BNBBTC turning into support and now BNB making a higher close. Very promising! From now on I'll be sharing a lot more stuff here on tradingview. I have no idea why I wasn't doing in before and kept it only for long posts. Now that things are moving so fast, I'll keep posting quality setups. Not much fluff, straight to the point, easy to understand. Before that I was doing it mostly on Twitter and Telegram, but now I'll share more here. It is a shame I can't show coins I talked about a lot in the past and people to get to know me better, but it is a fresh start after being on this platform for 4+ years.
Long
by BitcoinMacro
4
Yearn.finance perfect both vs USD and BTCYFI had an insane pump over the summer and it reached 1B marketcap from 0. That clearly was unsustainable and the aftereffects where clear. Everyone was hyped about YFI for a really long time but the chart looked weak. Anything that got added to the YFI ecosystem initially did well, except YFI. However now it is very clear that there is a breakout both in USD and BTC terms. On YFIUSDT the ATH has turned into support, while on YFIBTC we have an incredible floor. Looks like a gigantic Adam & Eve bottom + a mini inverse Head & Shoulders at the end, right after breaking the diagonal resistance. No idea how well can this do right now as most coins are up 20-30% over the last 2 days, but to me there is much more to it. Short term a pullback down to 48000 wouldn't be unreasonable
Long
by BitcoinMacro
Numeraire is showing a lot of strenght. Potential easy 2x ahead!NMRUSD on Coinbase just broke its previous high since its listing. It has been a massive under-performer, but usually has had massive spikes. I can't see how some coins on Coinbase will not pump a lot at all. Currently it is essentially at a 2x from its bottom vs BTC and could easily do another 2x from here. It has a quite special chart both vs USD & BTC and when it got listed on Coinbase it also got listed on Binance and a few days later on OKex. Prior to that it was only listed on smaller exchanges. The fact that it has performed so well amidst the market carnage is also a great sign that something big might come. s3.tradingview.com s3.tradingview.com
COINBASE:NMRUSDLong
by BitcoinMacro
OXT/USDHello all! OXT is the digital asset token used to pay for VPN services on the Orchid network. It is built on Ethereum in accordance with the ERC20 standard for tokens. OXT can be bought and sold for fiat currency or other digital currencies. OXT is another Token I currently hold on my Gemini account. It wasn't long ago that I invested into this token also. With a fixed supply of 1 Billion OXT Tokens and currently 367.58 million circulating, I see this token as great investment with greater potential ahead. In the 4hr chart, I explain areas of my liking to add more longs into this token. The 4hr RSI is currently overbought and I can see on the chart that the RSI has been respected before. Fib shows areas of interest for me to add more to this investment. I am not a financial advisor, this is my opinion on OXT based on technical analysis and information I read and listen too. You all gather your own information and proceed with your alls likings. I wish the best of luck to all!
GEMINI:OXTUSDLong
by ThreePillarsTrading3
2
LOOM/USDC, MORE LONGS!Hello all, Loom has made new highs and is currently on an overbought RSI on the 4hr chart. I point out areas where the RSI has been overbought on the 4hr chart; I am posting areas of interests I like as to where to add more longs if loom takes its breather. Use fib and follow the trend. I am not a financial advisor, the charts and content I post are simply of my opinion based on technical analysis and information I read and listen too. Good luck to all and trade safe!
LLong
by ThreePillarsTrading3
STORJ/USD LONGSHELLO EVERYONE, I HAVE RECENTLY JUMPED IN SEVERAL COINS AND TOKENS, STROJ IS ONE OF THEM. THIS CLOUD STORAGE NETWORK SEEMS INTRIGUING TO ME SO I DECIDED TO INVEST IN IT. I FIRST JUMPED INTO IT ON THE 6TH OF FEBRUARY. WITH A SUPPLY OF 425 MILLION TOKENS, I BELIEVE STORJ HAS GOOD POTENTIAL. MY OPINION ON THIS PAIR IS THAT IT WILL BE HITTING THE 1.20 MARK IN THE NEXT WEEKS TO MONTHS AND WILL KEEP GROWING AS TIME GOES ON. NOW THAT THE PAIR IS BREATHING, I HAVE POSTED AREAS TO MY LIKING WHERE I CAN ADD MORE LONGS. THIS INFO IS MY OPINION ONLY, I AM NOT A FINANCIAL ADVISER, THE BEST OF LUCK TO EVERYONE!
KRAKEN:STORJUSDLong
by ThreePillarsTrading3
8
SNT/USD, LOOKING TO KEEP CLIMBING :-)Hello all, Status (SNT) is a Ethereum based operating system who describes itself in its website as a secure messaging app, crypto wallet, and Web3 browser built with state of the art technology. I am currently invested in this token as it seems to me that it will keep climbing to where it was in late 2017 early 2018. Status currently holds over 1 million downloads on Google Play Store and with this ever growing Cryptocurrency world, Status still has a lot more room to grow. Technical analysis shows that the pair entered an overbought area on the Daily RSI where it has now had some breathing room. Daily fib shows that SNT retraced to the .618 and is currently bouncing around the .50 fib. I am currently adding more longs to SNT as I see it surpassing the previous of .12 and keep rising as time passes. I am not a financial advisor, this is purely my opinion based on information I have gathered and technical analysis with chart patterns that I have used in the past. I wish the best of luck to everyone!
SLong
by ThreePillarsTrading3
BCH READY TO TAKE FLIGHT!Hello Community! Before we begin please support my idea with a thumbs up and a comment. It'll be greatly appreciated and will motivate me to post a little more! BCH/USDT has successfully broken major resistance shown by the trendline in the chart. MACD attempting a bullish cross. RSI made a higher low. We can expect steady grown from here. This is not Financial advice. Safe Trading Calculate Your Risk/Reward & Collect! Coin Donations Are Always Welcomed :) Simplicity Wins
Long
by rnaofs
1
The truth about how to maneuver Bitcoin downtrends...I think there are alot of misconceptions about the way that Bitcoin affects alt-coins. There is a reason why Bitcoin is in a category of its own. I see alot of words that only speculate a difference between Bitcoin and the altcoins. I am here to tell you to stop speculating. There are few things in the crypto market that we know for sure are true, so I think we should use these constants to our advantage. I am telling you beyond a shadow of a doubt that any and all cryptos or tokens will be affected negatively during a Bitcoin downtrend. There is no 'safe space' , if you don't know how to short you need to cash your coin out to tether, because all coins will be affected negatively by a Bitcoin downtrend. Proove me wrong.
by EchoPhoenix
PSG/USDT Opened for Trading in BINANCE - FAN TOKENSPSG(Paris Saint-Germain) Recently launched its first FAN TOKEN ! And not only this, but the most exciting news is that it was also listed in BINANCE, the largest crypto exchange system in the world! Other European fan clubs have already created their own version of a decentralized crypto token and their prices and movements can be checked here . But why I believe PSG(Paris Saint-Germain) is going to overcome the others and this is so relevant? For those who are following up what is going on with the Crypto world, we see a huge movement after ETH launched its 2.0 network based on the Proof of Stake (PoS) model. DeFi is the buzzword that is going to drive the new generation of blockchain technologies. We are not bullish in cryptos because of the cheap BTC marketers are back saying it is gold. No! We are bullish because ETH is evolving and becoming more energy-efficient. Blockchain is not what we learned at the beginning. As a "cryptography" model to make transactions more safe, it's now "obsolete". Anyone can copy the same model and make new "digital gold" for themselves. But what we see now is the Tokenization of Money (read more about Decentralized Finance or DeFi ). So, for those who want to take their chances trading something it is gonna be really useful and fun, try trading PSG/USDT in the next months. I believe it's price is going to reach $50 very soon. Watch it!
Long
by agbarbosa
4