BTCUSD has turned overbought on its 1W technical outlook (RSI = 70.463, MACD = 1620.000, ADX = 29.717) as it made a new annual High. This is not the only technical benchmark it achieved as it formed a Bullish Cross on the 1W MACD and crossed over the formed support that turned into resistance emphatically. We see the same repetitive pattern on both prior Cycles....
BTCUSD is technically overbought on the 1D timeframe (RSI = 80.516, MACD = 1734.400, ADX = 57.748) after a very strong 10 day rally that saw it hit a trendline that most people haven't noticed. That is P1, the underlying pivot line that was the HL when the rally was initiated at the start of the year. A Golden Cross was formed on the first High of that January...
There are two big and very famous sayings in equities: 1. " the market is never generous ": things are not what they seem and logic does not usually work. Nobody gives money away. 2. " buy on the rumor and sell on the news ". Markets are anarchic and are driven, among other things, by expectations. The recent history of BINANCE:BTCUSDT is plagued by the...
1D time frame - Previous analysis about Bitcoin PRZ at 31k is wrong due to ETF releated news. Because original Diamond/Head and Shoulders are broken, we will talk about new perspective for 2nd bottom today. Firstly, dump from 69000 to 32917, there was a 0.382 Fib Retracement at 48189, then kept dumping until 15476. From here, we know the effect of 0.382 Fib,...
BITSTAMP:BTCUSD has had a major push breaking above the 30,500 resistance area. We just might see a push back into that area again to retest the broken resistance as a new found support, if it is sustained, price may end up pushing higher and if otherwise, we may see price pushing lower. Support areas to keep in mind, 30,500; 25,000; 19,500 and...
BTCUSD New forecast Bitcoin digital credit points increased by 3% during this week trading, achieving its gains for the second day in a row, recording the highest level in a week, in light of the positive sentiment that dominates the asset market. This is amid growing hopes about the possibility of regulatory authorities in the United States approving the...
Bitcoin crossed today over the 31,000 level for the first time since July 14th with the 1D timeframe reaching overbought technical levels (RSI = 79.604, MACD = 886.400, ADX = 44.053). The upcoming 1D Golden Cross has the strength to push the price even higher and in comparison with February, the parallel HH trendline around 35,000. We may then see a pullback to...
Since the beginning of October 2023, Bitcoin price has increased 8.3% and is approaching the psychological barrier at the 30,000 USD mark. Finance BankingBitcoin forecast next week: Approaching the 30,000 USD markDuong Lam • {Publishing date}Since the beginning of October 2023, Bitcoin price has increased by 8.3% and is approaching the psychological barrier at the...
12h time frame - We have talked about many potential top structures about Bitcoin, such as Head and Shoulders(ref.1), Butterfly(ref.2) and Diamond structure(ref.3). All analysis point out that Bitcoin is creating a huge top structure before next bull. This is also the last chance to catch a potential crazy dump in this bear period. If we take liquidation hunting...
It has been 76 weeks (532 days) since BTCUSD traded over the 1W MA100, a Resistance finally broken this week. Even though the weekly closing is critical, this mere breakout itself, opens the way for a Bullish Cross between the MA50 and MA100. The 1W technical outlook is on excellent bullish levels (RSI = 65.377, mACD = 378.900, ADX = 35.081) increasing the high...
BTCUSD is on a bullish 1D technical outlook and more importantly yesterday's rise pushed the 1W timeframe into technical buy levels (RSI = 55.657, MACD = 575.600, ADX = 23.863). This is more than encouraging as it keeps Bitcoin in Bull Cycle territory, over the 1W MA50. What we should be using as a benchmark is the Halving event. Next one is estimated to be in...
1D time frame - According to left chart, Bitcoin pumped rapidly on 25th Oct '19, which date range was around 198 Days away from 2020 halving, Bitcoin increased by 45% in two days. Next, Bitcoin made a waterfall over 60% since Feb '20, then Bull market was triggered. Nowadays, Bitcoin extremely increased by 20% in Oct '23, and we need around 200 Days to reach...
BTC has been very bullish since late September and early October, but has reached strong resistance at $28k. The orange trendline is a key price target where BTC bulls and bears are struggling to gain control over this price level. The trendline acted as support for a few hours before ultimately breaking below, and is currently acting as short-term resistance. For...
12h time frame - Bitcoin dumps 1.5% today, and many people think the huge dump is coming. However, if we take a look at the uptrend since 24901 on 12th Sep, this uptrend line has not been broken yet which means Bitcoin is still on the upward way. Combining with 0.618 Fibonacci Projection, there is a structural support around 27000~27300. Therefore, we can set up...
BTCUSD New forecast The price of BTCUSD rose up during last week and reached to our first target near to resistance zone 28345 - 28900 and now offers side trades below the resistance Now as we see in the chart the price trading in the bullish channel for a long so we expect the price will be continue at the bullish trend but to confirm the bullish trend should...
4h time frame - According to previous analysis about Butterfly pattern on Bitcoin(ref.1), there is a PRZ around 29000~29400. Today, we are going to talk about the time analysis, if take a look at the analysis about Bitcoin bear bottom (ref.2), a potential top structure-head and shoulders was pointed out in that post. Further, separating the left shoulder into...
1h time frame - Bitcoin broke the downtrend line on 2nd Oct. Currently, Bitcoin is retesting to search R/S balance zone, also is creating a potential HS on 1h time frame, which is good for retesting structure because it shows potentially available support. However, we need to consider the possibility of longer consolidation, so this bottom HS trading plan will...
Dear traders, Bulls have repeatedly failed to price push higher, indicating a further drop expected. This also applies to other major CRYPTO PAIRS. Due to strong USD presence in the market.