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Bitcoin Tests Mid $40K'sBitcoin has weakened further, but found support at our level at $46.2K, to which you were alerted in yesterday's report. There is a cluster of support levels below, in the $45K range, but then a vacuum zone down to $43.8K if weakness persists. We may be forming a bear consolidation type pattern which could suggest we are gearing up for another selloff. But we are due to for a bit of ranging otherwise, and the range from $46.2K to $48.2K seems reasonable for now, unless we catch some momentum, which could bring us back to $49.7K.
BITSTAMP:BTCUSD
by quantguy
Bitcoin Retreats from Relative HighsAfter making new relative highs not to long ago, weakness has pervaded Bitcoin again. It touched the $50K handle briefly, but fell back to its comfort zone in the $40K handle. It is currently finding support at $46.2K. It appears that all the good news is already priced into the crypto market, and the big moves have already happened. If we don't have any more positive news, then we should range between $46.2K and $48.2K at best. At worst, we could test support near $45K. There are three levels in this vicinity, but then a vacuum zone below to $43.8K
BITSTAMP:BTCUSDShort
by quantguy
Bitcoin Rejects $50K!! 😨Bitcoin has retreated from highs in the lower $50K handle back down to the $49K's. Although it has rejected $50K, it is still showing a clear affinity for higher levels. We are just below the support level at $49.7K. If we break through this we will be testing $50.8K, which was the previous level of resistance from which bitcoin retreated. We have a very strong level at $48.2K, then a vacuum zone below back to the mid $40K's, so keep this in mind if momentum does not come through. The Kovach OBV was strong but has since rounded off suggesting that BTC is giving pause for the moment.
BITSTAMP:BTCUSDLong
by quantguy
Bitcoin Hits $50K!!Bitcoin has broken out finally to $50K! It had been holding the range between $48K to $49K for some time, and was starting to round off. But momentum came through and this was a much needed lift. We finally have mustered the momentum to achieve $50K, which is a significant milestone. We will see if we have the momentum to sustain these higher levels or if it will reject $50K in favor of the $40K's. The Kovach OBV is very strong suggesting that the trend is bullish.
BITSTAMP:BTCUSDLong
by quantguy
$50K Bitcoin??Bitcoin caught a bid off lower levels at $43.8K. It has broken through the curve bounding the 'rounding off' behavior. This plus the clear rejection of lower the lower bound of the price range is a bullish sign for Bitcoin. We won't be out of the woods yet until we can solidly break $48.2K. This is the upper bound that Bitcoin has respected since its recovery from the $30K's. We have one more level around $49K before we will make the ultimate test of $50K. The Kovach OBV was strong with the rally but has flat lined suggesting it has petered out for now.
BITSTAMP:BTCUSDLong
by quantguy
Weakness in BitcoinBitcoin has dipped to the $43.8K, one of the lower levels in a cluster of support levels in the lower $40K handle. We are clinging to support here, but Bitcoin is looking very weak. The price action seems to be 'rounding off' as illustrated by the curve above. We should find support at $41.9K, or at worst $40K. Our support levels mentioned align nicely with the Fibonacci levels: $43K is the 0.500, and $41.9K is roughly the 0.382 level. The Kovach OBV is gradually tapering down, so unless we see another burst of momentum we can expect more weakness.
BITSTAMP:BTCUSD
by quantguy
Bitcoin Stumbles, RecoversBitcoin dipped last night and it appeared that we may have given up the $45K range. But we saw support quickly from just above our level at $43.8K. Currently we are testing $45.6K again from below. This is roughly the midpoint of the range between $45.2K and $46.2K. Bitcoin has established value here before, so we may anticipate it to do so again. But these levels have proven to provide significant resistance in the way of a rally, so be mindful of that in the event BTC catches a bid. After that, however we have a vacuum zone to $48.2K which is one of the final levels of the $40K handle. The Kovach OBV has dipped sharply in a divergence with the price.
BITSTAMP:BTCUSDLong
by quantguy
Bitcoin Testing Relative Highs!!Bitcoin is hugging the newly established upper bound at $48.2K. We may be seeing a double top forming, but it seems that there is strength in the crypto market and Bitcoin is establishing value between $46.2K and $48.2K. If we can muster the strength for a breakout then our next target is $49.7K, which is the last target in the $40K handle before we hit the $50K's. If we face resistance from here we have good support in the $45K range from a cluster of levels.
BITSTAMP:BTCUSDLong
by quantguy
2
August in Eth, BTC, LINKInitially mostly in LINK and some ETH Trades: Sell LINKETH 210807_1400__SELL_LINKETH_0.00787 (described Aug 7 10:00 EST, 14:00 GMT, sold LINK($24.09) for ETH ($3059), 0.00787 LINK per ETH) - Link was 24.09, now 26.95 -- 1.119 //aka +11.9% - Ethereum was 3059, now 3250 -- 1.0624 //aka +6.2% - Bitcoin was 44146, now 46750 -- 1.0589 //aka +5.9% Sell ETHBTC, 210809_1030__SELL__ETHBTC_0.06812 (described Aug 9 06:30 EST, 10:30 GMT, sold ETH($3126) for BTC ($45883), 0.06812 ETH per BTC) - Ethereum was 3126, now 3250 -- 1.0397 //aka +3.9% - Bitcoin was 45883, now 46750 -- 1.0189 //aka +1.9%
Long
by pokemonbro
XRP BREAKOUT AND RESISTANCEXRP/USD is moving in the bullish continuation pattern which has formed a good resistance for it. Furthermore, XRP/USD is breaking the falling wedge pattern, we foresee that XRP/USD has the possibility to continue moving upward to the target area. The roadmap will be invalid after exceeding the support or target level. 14 hours ago Recommendation: Always trade with the use of risk management signals. For more conclusions, we will appreciate your comments, likes and ideas. Trade safe and always use stop loss.
BITSTAMP:XRPUSDLong
by LenaGraceThomas
1
Bitcoin to $50K??Bitcoin is consolidating in a cluster of our levels between $45-46K. This is a strong sign for the once belabored coin, which could barely cope with $34K a few weeks back. Typically, BTC swiftly rejects prices if it cannot sustain them. Our next level is $48.2K, and there is one more level at $49.7K before we are able to contend with the psychologically significant $50K level. The Kovach OBV is still very strong, but has tapered slightly as BTC establishes value at current levels.
BITSTAMP:BTCUSDLong
by quantguy
New Relative Highs for Bitcon!!Bitcoin has made new relative highs again over the weekend. We $45K as the next major target and test of BTC strength. We smashed through resistance in the $41K's and are currently contending with $45K. We saw some resistance here followed by a swift buy-back that we are witnessing at the moment. Anticipate BTC to form value in this area before gearing up for another breakout. There is a cluster of levels in the $45-$46K handle immediately above, but otherwise there is a vacuum zone to $48.2K
BITSTAMP:BTCUSDLong
by quantguy
1