Bitmex's recent lawsuit and bank secrecy act's potential implication to DeFi space didn't seem to shake crypto investors at all.
USDT issuance grew more than 10% in September and BTC is till hanging onto the edge of logarithmic channel.
The recent upward movement can be validated if BTC can close the weekly candle within the demand zone.
💎Technical Analysis Summary💎
-Bitcoin rejected at 200M dynamic resistance
-Plus the old support turned new resistance today
-If we can see follow-through by the Bears
-BTC is likely to retest previous support at 10.1k range
-Currently on the short term, Bears have access in the market
-Let's wait and see how BTC will react at low 10k strong...
-Bitcoin just had a Bull trap after breaking the recent high at 12.1k
-The price slowly dumping down to 11.6k located the trendline support
-We can see a Bullish reaction candle on the 1st retest of trendline
-BTC is still on an uptrend but a sign of weakness is showing
-Though the trendline of support still valid
-We still need to be cautious as the...
-Bitcoin is about to confirm a Bearish Double Top reversal
-The price is starting to break the upward trendline support
-If the next candle will close below the key trendline
-It is likely to confirm this reversal pattern
-The downside target below is 10900-10700 range
-We can see multiple bearish signs on BTC
-RSI divergence, Strong sell volume &...
Bitcoin CME Futures
-Today, BTC made another Higher High looking at the 4h time frame
-But we need to be more cautious now because of the Bearish RSI divergence
-The price is touching the upward trendline resistance
-If Bitcoin unable to break above the trendline resistance
-It is likely to come down and try to fill the CME gap at 11735-11690 range
As I show in the graph from my personal point of view this fall scenario is going to be repeated, the indicator I use already indicates "Bear".
Currently I have a long operation of 4 hours and at the end I'll do short with a 3x leverage.
I really hope I'm wrong.
If not, this event must happen on August 10th. Or the end of August.
-After the ascending triangle pattern broke out
-The price hits the 12k key resistance including the CME gap before 12k
-Bitcoin drops and now trading below the upward trendline of support
-This is not good in the short term
-We can also see a strong sell volume during the blow-off top
-The key area I'm watching right now is the 10.3k-10.1k range
-bitcoin bulls won the short term game today
-as the price broke finally above the trendline resistance
-also manages to give back above 200MA on 4H timeframe
-now, for BTC bulls to continue. They must protect the support at 9200 range
-because this level is important in the short term market view
-the next level to watch for the upside resistance is...
-Bitcoin just got rejected again by the descending trendline resistance
-the price is approaching a key area of support at a 9k-8.8k range
-this area of support has been tested 4 times now
-if BTC will come back to this zone this will be its 5th retest
-bearish side, the more it gets tested, the more the support becomes weaker
-we will never know what...
This is one of those charts that do not make people happy, because its not based on delusion. I keep looking through charts and saw people predicting $45,000 - 200,000 bitcoin. I ask, what are those charts based off? I have called them "just because" charts.. as the authors usually say "because BTC has continuously rallied in price". But you never hear of good,...
-Bitcoin just had a failed breakout of the trendline
-the price went back inside the lower sideways range
-it almost touched our green area of support
-if the bulls can hold our support zone
-they will have another chance breaking this trendline successfully
-but for now, I expect a few more days of sideways
-Alts may start going higher again
-Bitcoin is starting to break above the descending trendline
-if BTC closes the daily candle above 50D MA
-this will give a bullish side to the market for the next few days
-longer sideways action is also expected
-a potential challenge of 10k resistance zone again
-during this sideways market again, Alts will start moving faster
-well, it is really...
-new key low support is set at 9k area
-Bitcoin closes below the 50D MA
-it will now retest the 50ma and trendline resistance
-decision time for the market
-are we going to break higher or come back lower?
-technically, we are still on a big sideways market
-it is still high-risk trading within the ranging price action
-my bias in the short term is to...
-since the drop from 9600s area
-the price is unable to break above the 50ma on 1hr chart
-it acted as a dynamic resistance zone
-Bitcoin is testing the flat area of support again
-which is a bearish sign because it gets weaker over time
-it is also painting a bearish descending triangle
-if we see a close below key support
-there is a high chance we...