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BTCUSDT | What are the reasons of current drop?Hello, guys! Let's talk about current Bitcoin price action. There is a significant drop of 14% last two days. People panic now that the price correction can be bigger than the previous one and are selling their Bitcoins. Let's consider fundamental and technical aspects of the analysis. FUNDAMENTAL ANALYSIS I suppose that the main reason of the current Bitcoin price drop is the manipulation... again! The same as the previous time. Do you remember that the huge amount of Bitcoins were deposited in the exchanges just before the previous correction? It is the case now too! But at this time the amount of Bitcoins deposited is smaller, and it is great. What does it means? Whales want to take profit at the high, crash the price because the people's panic. At the bottom they will buy Bitcoins again at the lower price, push it higher. People will buy it again. Then the cycle will repeat. This is how the whales and institutional investors direct the market. We should anticipate their actions to have a consistent profit at the cryptomarkets. It is difficult, but, fortunately in the blockchain world nobody can't hide from the other investors their intensions. There are a lot of websites where you can find the unusual activities on the cryptomarkets. To make sure that current drop have no macroeconomic reasons let's take a look at the traditional markets at the chart below. Here is the clear uptrend without any fluctuations which could lead the Bitcoin price drop. As you know the Bitcoin price is strongly correlated with the traditional markets. TECHNICAL ANALYSIS This week started with the bearish bias below the central pivot range. The price have a rejection to downside from this level. Also we can notice that the price again found support at the trendline. If the price find support at this trendline again the green scenario (1) can play out. The white (2) and red (3) scenarios based on the key support levels and also can play out in case of panic continuation. It is nice opportunity to buy in dips at these levels. To sum up, here we can see a typical market manipulation, don't be fooled and buy the Bitcoin in dips to earn money in the current situations. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
BITSTAMP:BTCUSD
by Skyrexio
4
NEAR Caught in a Strong UptrendNEAR is one of the newest cryptocurrencies on the market, and it is already making a name for itself after an almost 1,000% increase over the past three months. Fundamentals NEAR Protocol (NEAR) is a decentralized application platform created to help developers design their apps. The network runs on a Proof-of-Stake (PoS) consensus mechanism and aims to offer scalability and stable fees. NEAR is the native utility token that is used for: 1. Fees for processing transactions and storing data. 2. Running validator nodes on the network. 3. Governance votes to determine how network resources are allocated. Similar to BTC, NEAR has a controlled supply. Its current supply stands at just over 300,000. The supply is set to increase by 250,000 annually and reach a total of 1,250,000 after 5 years. Economics tells us that when supply increases, price decreases. Thus this is not a positive aspect at the moment, but it will be so in five years. NEAR on the Chart NEAR is currently in an uptrending channel. It has recently hit the upper limit of the channel and now even broken through, indicating that a short-term pullback is imminent. There is also a bearish RSI divergence indicating a pullback. The Relative Strength Index (RSI) is a momentum indicator that oscillates between overbought and oversold. When RSI has a value greater than 70, it is said to be overbought (indicating that it is a suitable place to sell), and when it is below 30, it is oversold (a suitable place to buy). A bearish RSI divergence occurs when the RSI is moving lower while the price is moving higher. This is precisely what happened between the 9th and 10th of March, thus further indicating a short-term reversal. Looking Ahead: NEAR appears to be in a solid uptrend for the past three months, mostly respecting the channel drawn on the chart. However, due to the price breaching the upper limit and the bearish RSI divergence, it may see a short-term reversal before pushing higher.
Long
by cryptohopper
ETHUSDT | Long Term Price TargetsHello, traders! Let's take a look at possible price movements scenarios for Ethereum. FUNDAMENTAL ANALYSIS First of all we should say that ETH performance is not good from the beginning of the current Bitcoin price correction. It's price droped more than Bitcoin price, so it is definitely underperforms the BTC. At the same time the Ethereum's competitors like Cardano and Solana looks pretty well. The most important reason for this is the high cost of Ethereum commission fees. Today we have a nice news from the co-founder of Ethereum Vitalik Buterin that they are about to solve this nasty problem with the scaling. It will help to reduce commission fees significantly. TECHNICAL ANALYSIS ETHUSDT The ETHUSDT now have an ATH at $2040, exactly at 1.41 global Fibonacci level and now it was rejected exactly at 1.27 Fibonacci level. So, we can see that the price has a nice reactions to these Fib levels. If we look at current price action we can see the bullish flag pattern formation. The price target from this pattern is above the ATH approximately at $2320 (1.61 Fib). To be honest the future price action for Ethereum is strictly correlated with the Bitcoin price. If BTCUSDT is able to break ATH this week, the ETHUSDT have high probability to follow the white scenario. In case of Bitcoin price pullback we can see the red scenario. It is also very important to understand if the ETH is going to outperform the BTC in the future or not. TECHNICAL ANALYSIS FOR ETHBTC Let's take a look at the ETHBTC chart on weekly timeframe. We can see the price action inside the bullish megafon. There was a bearish divergence between the price and on-balance volume, as a result we saw the sharp correction and now the ETHBTC is going to reach the lower band of the megafon. We can conclude that the ETHBTC now is almost at the dip and the Ethereum is going to outperform the Bitcoin soon. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
3
Bitcoin showing some signs of resistance but still healthyKeeping this short and sweet. We called a "boom" at 50K last week, we are now over 10% over that target and don't see anything representing a breakdown or weakness besides this small area of resistance around 56690. If this area is retested and rejected a few times please watch out for another slight correction and possible entry points before the next serge upwards. Next targets well over 60K and all time highs but if we don't close past the areas of confluence marked on this chart we will see some sideways and downward action before continuing upwards. Happy Trading!!
COINBASE:BTCUSDLong
by hbayatne
Bitcoin looking healthy when you read between the linesLet’s look at the facts. Major institutions and billion dollar purchases have been dumping into btc recently. So what do you do if you have a million dollars in something and it goes up 10%? Take profits!! Of course. So price starts to dump down. But then what do you do if you realize price is looking cheap…you buy!! Of course. That’s the pump and dump of the short term moves in all of crypto especially BTC. So what you see going on right now and probably for the next few hours if not overnight and as asian markets open, is more slight corrective price action. But what will happen in the next day or two will absolutely blow the bears out of the water. If this move wasn’t going on right now we should all be worried. The fact that this very healthy and within chart analysis price action is going on should make a lot of HODLers happy. New highs here we come. Happy Trading!!
BITSTAMP:BTCUSDLong
by hbayatne
2
Has the FINAL Short Squeeze begun? Has the FINAL Short Squeeze begun? Is the Prophecy coming to pass? Is Armageddon finally here...... Hedgies will begin to run.... and by run, I mean COVER.... Good for us. Price is up from 52+-, TO 80+ opening 30 minutes. Volume is higher than it has been in the previous 6 trading days for GME. Broke multi day trend lines. Is reproaching the 200 day EMA at around 122 +- If this happens, I believe it will rebuild support at these levels, and it will begin its take off to the stratus sphere. Why is this happening now? 3 potential reasons? 1. Price is Low... 50 or so a share at open and MANY who have heard the calls to action want to get in. 2. Many who are holding want to double down or average down (Increasing buying pressure) 3. Hedgies who are short GME, in great volume, need to act. The rising interest on their short positions, AND potential LOSS of gains from the Armageddon soon to fall upon us is incentivizing Hedgies who are overextended on their shorts to GET out asap before their realized gains are gone or before they CAN't get out. Theoretically, if NO ONE SELLS. Everyone HOLDs with Diamond hands, and more shares are purchased, there will be NO outstanding shares for Hedgies to buy in order to cover their shorts. Causing the price to rise dramatically and only stabilizing/reversing when WE SELL. I will be waiting happily with diamond hands for the prophecy to unfold. Good luck. This is NOT investment advice. I don't know anything. Please don't listen to me and do your Own research........ I just REALLY Like the stock.
NYSE:GMELong
by lorenzsantiago
8
ADA Fam! Ready for more upside? The Chart says yes!Hello Traders! Cardano has been waking up from it's long nap and is finally taking it's place as a crypto giant! The bull run this is experiencing should be a testament to what people believe ADA can actually achieve. But enough banter...let's get to the chart. Really nice setup here with all factors aiding the confluence. We have... - An Expanded Extension Series from the low and has already entered Longs. - A B-E-A-U-tiful Correction Channel that price is reacting off of the Median Line of. Ideally, we will now reverse and break out of the Upper Boundary for further bullish confirmation. - Not to mention the Short setup meeting target and reversing right on the Median Line of the Channel. All around, great confluence from this Long Entry. We must pay attention to the Opposing setups as every setup is a BATTLE for Trend. Once we break above ~$1.36, we can feel even better about price reaching the Long Target. That's all for now! Happy Trading, always manage risk. Quality in trading is the ability to react to one's own personal psyche
Long
by SmileyTrades
BTCUSDT | Ultimate Analysis | The Correction CausesHello, dear subscribers! Today we are going to introduce the complete Bitcoin analysis, technical analysis, fundamentals, correction causes and the future potential price action. Let's GO! SHORT TERM TECHNICAL ANALYSIS Now everything looks very bullish. The falling wedge pattern played out and we can see the nice price increase above the very important $47286. If the BTC price find support above it (white scenario 2) the next important level to breakout is the $52209. These levels are vital to continue the bull run. Potentially the price can return to $43829 level which is the strong support.
by Skyrexio
16
BTC PEOPLE MUST BE BLINDso basically you à te traders You learn that the market structure work in wave You have a perfect 5 impulse drawing in front of you the bottom of the fourth wave. So it’s a perfect swing , perfect position trading if you already in ? Are you all dum and think btc will go to 38k. The simple principle of wave impulse is that wave 4 never go in wave 1 area. So now will be the perfect timing of the market. Guys you need to all look at the basics of wave mostly when they are that apparent
BITSTAMP:BTCUSDLong
by RICHMONSTOCK
5
CITRON is giving a GREAT LONG opportunity with $GMBLCitron following intraday trading strategy idea Esports Entertainment Group, Inc. operates as an online gambling company in Canada. The share price is rising and gonna continue this trend today after the new Citron report publishing. The demand for shares of the company still looks higher than the supply. These and other conditions can cause a rise in the share price today. So I opened a long position from $21,5; take-profit — $28,00/MOC price; stop-loss — 19,50. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
GLong
by KozakHlib
1
ADAUSDT | Cardano is about to explode!Hello, traders! Cardano touched the ATH today and bounced off it. What is the next for ADA? Let's go! Technical analysis demonstrates that the price now is in ascending trend channel which started yesterday at the Bitcoin dip time. We can see the range with three significant support levels. Corresponding to this there are three possible scenarios. "Green": the price will break through ATH and quickly reaches the $1.30 (weekly R1 pivot) level. It has low probability but possible. "Blue": The price will go to the lower band ($1.07) of the channel and bounce off it to the upside. In my opinion this is the most possible scenario in case if the BTC re-test the $47000 level. "Red": This scenario could play out in case of BTC retest $45000. Can the Cardano go to the $0.81? Yes, but it is the least likely because if you look at the ADABTC technical analysis chart below it can be seen that the Cardano outperformes Bitcoin now. It broke through the R1 weekly pivot and if it is able to find support above it, the ADA can grow faster than the BTC. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
by Skyrexio
4