BTCUSDLONGS trade ideas
BITCOIN 1WPreferably suitable for scalping and accurate as long as you enter carefully the price behavior with the drawn areas.
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BTCUSDT/ D As you can see, the price has moved positively from the important range of 17,600 to 25,200 thousand dollars, and with the accumulation of liquidity, it has been accompanied by selling pressure, and the price has started to correct again to the range of the support zone. The price has reacted to its important resistance 💹
The price is currently in the range of 20,268 thousand dollars. If the range of 20,000 / 19,700 thousand dollars is maintained and the candle close is above the range of 20,500 / 20,800 thousand, we can expect growth up to the range of 21,800 / 22,000 thousand dollars.⚠️
Otherwise, the possibility of price correction towards the specified area. Support ranges of 17600/18200/19100 have been identified.
BITCOIN 1DPreferably suitable for scalping and accurate as long as you enter carefully the price behavior with the drawn areas.
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And if you needed any analysis that was not on the page, you can ask me with a comment or a personal message..
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Bitcoin's inevitable drop to 16k underway?Long term I am bullish on Bitcoin and Cryptocurrency.
Short term, I think we are likely to see a rapid sell off to around $16.6k.
When setting this trade up, I considered a way to lower the risk and increase the return. Rather than using leverage directly on Bitcoin, an asset with solid fundamentals and the safe haven in a cryptocurrency rout. I have taken shorts on two other cryptocurrencies, that I have priced as over valued.
1) I believe Ethereum Classic (ETC) is currently overvalued, due to a recent rally spurred by Ethereum's (ETH) 2.0 network upgrade. ETC has been pumped with the sales pitch >> ETH miners will move to ETC, dragging over a significant portion of the ETH user base over. This is not likely in my opinion and therefore the rally is not supported with fundamentals. I foresee a sell off to the $18-20 range, a range in which I will close out my position. Current trade entry of $41.60.
2) The second short is Optimism (OP), a relatively new cryptocurrency that has been pumped from $0.50 to $2.30. Even considering it's retreat from $2.30 to $1.15, I see a further pullback to $0.80 likely, maybe $0.60 will see. Entry of position at $1.46.
Best of look out there.
RISK: Crypto might rally with the upcoming upgrades of both ETH and ADA.
BTC Market Analysis 27/09/2022BTC again bounced from the trend-line of the symmetrical triangle and consolidation in the symmetrical triangle continues.
Bulls have tried to break the resistance trend-line many times but ended up in fake-outs or rejections.
Now we have to wait for a breakout with a retest, which will confirm a bullish move in the market, and a breakdown of the demand zone with a retest below it would be a sign of a bearish move in the market.