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BTC - Descending Trendline= Strong Barrier for Bulls to OvercomeHello Traders, here is my analysis for BTC/USD. Let me start off by saying, BTC has a massive barrier to overcome to turn bullish. What is this barrier I speak of? ***The Descending Trendline that been plaquing BTC since the November 2021 high. What does this mean for BTC? - Basically, this trendline is MASSIVE MASSIVE Resistance for BTC and will require a valiant effort from the bulls to overcome. Is it possible for the bulls to break through this trendline? - Of course, but highly unlikely. - Eventually this trendline will break, but under the right economic conditions. What type of economic conditions? - Right now the markets are panicking, especially after the economic data that came out yesterday. We are currently in what is considered a "Risk-off" environment where larger traders and smart money consider it too risky to trade asset classes like crypto or volatile stocks. - BTC will need to be in an environment where the economy is showing signs of improvement for a stable period of time, bringing larger investors back into play in the riskier assets such as BTC and crypto. - Keep an eye on the stock market, BTC is highly correlated with stocks such as the Nasdaq, SPY and right now even copper. Once The broader stock market turns Bullish, look for BTC to turn Bullish. Onto the actual analysis... - Like I said, the descending trendline is going to act as major resistance, so from a trading perspective we know that... 1) The upside is limited (to that trendline) 2) The trendline could make for a good shorting opportunity 3) If price does end up breaking the trendline, thats extremely bullish for BTC and we can change our opinion form bearish to bullish. What's likely to happen in the short term? 1) BTC will most likely retest the descending trendline 2) BTC will get rejected off that trendline and inevitably retest the range lows at $17.5K. 3) Eventually BTC will most likely break the range lows followed by a massive sell off. How to trade: 1) As long as BTC holds support, you could potentially enter long and sell at the trendline 2) You could enter short at the trendline and take profits at the range lows. ***These are just what I consider to be the most likely scenarios for BTC, before entering any trade make sure you plan it out properly and have good risk management. Thanks everyone and best of luck trading!
BITSTAMP:BTCUSD
by natef1
2
Week Ahead: Gas demand weaker * Oil Formed a descending Triangle. Giving more bearish confirmation of target of $60 * FED giving signs of another 75-point basis hike. Recession fears are bearish for oil * Demand slows down worries due to China’s zero COVID policy and OPEC+ cutting production * Energy Price Cap oil gapped up from opening on September 4th. Extended 3% by September 5th. Then losing almost 10% of gains. Reaching the price of $90 on September 5th, and dropping to $81 on September 8th. Then ended the week with a 5% gain. Closing weekly at the lowest since January 17th starting week. Crude oil inventories rose last week by 8.844 million. Indicating demand is weakening. It was expected inventories were to fall by just 250,000 barrels. I am anticipating oil to gap down during opening today. I am waiting to see how it will react to this trend line if it is going to continue down. Broke out of the descending triangle. Looks like it came back up for the last touch On Sunday, September 4, 2022, Russia announced the closure of its main gas supply pipeline to Europe. This spiked fears into the energy market. Both Natural gas and crude oil both gapped 1% before the closing of September 4th. Monday, September 5th the OPEC+ held a meeting. Production was cut by 100,000 barrels a day for the month of October. OPEC+ is already below meeting production. Supply fears pushed Oil up 5%. After oil digested the news it fell from $90 to about $81.14. Concerns of sluggish global demand outweighed the warning of President Vladimir Putin about the potential withdrawal of oil form of Russian Energy. Also new COVID lockdowns in China. Chinese imports fell 9.8% in August. The OPEC+ cut was larger for Asia and Europe indicating weaker anticipated demand. Russian President Vladimir Putin to halt all oil and gas supplies if price caps are imposed on Russian energy resources. Hours later EU proposed to cap Russian gas. The OPEC+ cut was done due to the possibility of a nuclear deal between the U.S. and Iran. This deal is expected to release over 1 million BPD of supply into the market
TVC:USOILShort
by UnknownUnicorn36761102
2
Daily analysis and trade setups on NASDAQ 20220725NASDAQ is likely to range between Blue zone B & C waiting for FOMC on Wednesday. Macro: Chicago Fed National Activity Index surprise may move it a little bit Looking for #scalper #trade #setups only Blue zone B, C, D are in play Buy Break: 12520, 12590, 12680, 12815, 12885 Reversal: 12360, 12290, 12210, 12160, 12040 Sell Break: 12360, 12300, 12260, 12180, 12140 Reversal: 12540, 12570, 12610, 12700, 12765, 12795, 12820 Chart with Green Goblins here >>> Chart with confluence here >>>
OANDA:NAS100USD
by TradingIndian
Bitcoin potential trade setupBitcoin is likely to come down to 30,832 - 30,325 before its next leg up towards 34k. This key zone also merges with our golden zone(78.6-61.8) of fib play and is a major order-block/liquidity level which is required for the push further up, as btc has ran out of steam from its previous pump. A possible trade setup is also presenting itself, Trade : BTCUSDTPERP Entry - 30,736 Stop loss - 29,924 Take profit 1 - 32,307 TP 2 - 32,854 TP 3 - 33,548 DO NOT RISK MORE THEN 2% OF YOUR CAPITAL FOR THIS TRADE Risk - Untested demand zone below stop loss. ( check charts)
Long
by CryptoBlanco
2