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#Bitcoin Upside Firm, Liquidation Pressure At $23.3kPast Performance of Bitcoin Bitcoin prices are steady at spot rates, up in the past two weeks but flat in the past few days. Even though the uptrend is valid, the accompanying momentum is a concern. From the daily chart, buyers have failed to follow through, confirming gains of January 20. BTC must clear this week's highs at around $23.3k to validate the trend from mid-January 2023. #Bitcoin Technical Analysis Overall, buyers are in charge. However, there must be confirmation in the near term. The tight consolidation inside the January 20 bull bar is favorable for buyers. A close above $23.3k would affirm the uptrend, paving even more upswings toward $25k. For now, traders might find entries to accumulate. This would build up the bullish momentum. Still, the preview is only valid whenever BTC is above $21.5k. If there are losses below the January 20 low and $21.5k, the uptrend might be paused, allowing BTC to cool off, possibly driving the coin back to $20k. What to Expect from #BTC? Although buyers are confident, there must be gains above the current consolidation in the next few days. The zone between $23.3k and $21.5k is critica, and could shape the near to medium term. Resistance level to watch out for: $23.3k Support level to watch out for: $21.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin bybit chart analysis January 25 Hello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, I would like one booster button at the bottom, please. Bitcoin 30 minute chart. It is a one-way long position strategy. arrow path 1. $22631.5 entry into long position / stop loss when completely breaking the green support line $23010 -> $23283.5 long position target Please pay attention to the Nasdaq movement and the Gap3 section at the bottom. My analysis is for reference only. Please operate safely as principle trading / stop loss is essential. thank you.
BYBIT:BTCUSD.PLong
by BitCoinGuide
#Bitcoin Upside Momentum Dropping, BTC Needs to Break $23.3kPast Performance of Bitcoin Bitcoin may be on a solid uptrend, but the momentum is fizzling. Buyers remain in charge but whether gains will be as rapid as in the past ten days remains to be seen. Notably, resistance remains at $23.3k and needs to be broken for the upswing to be valid. Technically, support remains at $21.5k, and as long as prices are above this line, buyers have the upper hand. #Bitcoin Technical Analysis The path of least resistance is northwards. However, in the short term, BTC may crater in a welcomed retracement. The uptrend will remain valid provided prices are above $2.15k, as mentioned earlier, but also within the bull bar of January 20. It will be the case, especially should the correction be with relatively low trading volumes. This will validate buyers from volume analysis preview, allowing traders to accumulate. Conservative traders may look to exit their longs and wait for entries above $23.3k, buying on dips and targeting $25k in the short term. What to Expect from #BTC? Buyers are upbeat but whether the uptrend will last or pump higher with the same momentum is yet to be seen. There needs to be confirmation of January 20 gains, pushing BTC to new Q1 2023 highs. Resistance level to watch out for: $23.3k Support level to watch out for: $21.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Bitcoin Shaking Off Sellers, BTC Uptrend Valid above $21.5kPast Performance of Bitcoin Bitcoin has added eight percent in four days, staying clear within a bullish formation, and buyers expect even more. The rejection of lower prices on January 23 meant BTC remains within a bullish course above $21.5k. Presently, the January 18 bull bar guides the uptrend, reaffirming the presence of buyers. #Bitcoin Technical Analysis BTC is within a breakout formation, with the bullish engulfing bar of January defining the short-term formation. As long as prices range above $20k and $2.15k, every low may offer opportunities to double down for aggressive, risk-off traders. This preview is further cemented by the fact that prices are trading above November 2022 highs, a critical support. Per the current state, BTC may set its goals at $25k in the short term and $30k in the medium term. What to Expect from #BTC? Buyers are solid and macro-economic factors are buoying the present leg up. Technically, BTC is above two critical support levels, meaning bears may require more pressure to break below these floors and re-establish their dominance. As long as BTC rejects or soaks in selling pressure, there could be more room for upsides in sessions ahead. Resistance level to watch out for: $25k Support level to watch out for: $21.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Rallies 10% in 3 Days, BTC Bulls Targeting $25kPast Performance of Bitcoin Bitcoin added roughly 10 percent over the weekend, reading from the performance in the daily chart. The coin is within a bullish formation, trending above $21.5k and firm. It is an indicator that buyers are in control, and every low could, technically, offer an opportunity to double down. #Bitcoin Technical Analysis BTC is within a bullish formation. At spot rates, the coin is up roughly 40 percent from December lows and possibly set for more gains. A noticeable development is the sharp surge above $21.5k and November highs. The breakout saw BTC add roughly 10 percent. Since bull bars are along the upper BB, traders may search to double down, adding their longs and targeting Q3 2022 highs at around $25k. This preview is valid provided prices are above $21.5k, and BTC bars are trending higher with expanding volumes. What to Expect from #BTC? The path of least resistance is northwards, and BTC is solid, within a bullish breakout formation. The immediate support is $21.5k and November highs. If prices are kept above this zone, there could be more upsides in the short to medium term. Resistance level to watch out for: $25k Support level to watch out for: $21.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Bitcoin Rejects Bears, BTC Preparing for $30k?Past Performance of Bitcoin The second half of the week for Bitcoin has been hot and cold. From the daily chart, the coin is within a bullish formation as the sparks of January 18 pushed the coin higher, reigniting demand. At spot rates, BTC is higher, within a bullish formation, and likely to spring towards registering new Q1 2023 highs. #Bitcoin Technical Analysis Bitcoin bulls are confident, reading from the formation in the daily chart. The coin remains within a bullish breakout formation, surging double digits. Every low above $20.5k, based on the candlestick arrangement in the daily chart, offers an opportunity to double down. Specifically, conservative traders can always wait for a breakout above $21.5k, or November 2022 highs, before loading the dip, expecting further gains towards $25k. This position will be especially valid should the surge be with rising trading volumes, mirroring those of last week. What to Expect from #BTC? Buyers are solid, and the uptrend in position. Still, a resurgence pushing BTC above November highs and unwinding FTX-triggered losses may form the foundation for a swing higher towards $23k and later $30k in a welcomed rally. Resistance level to watch out for: $21.5k Support level to watch out for: $20.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
3
#Bitcoin is Bullish, but BTC Closing Above $21.5k is CriticalPast Performance of Bitcoin Bitcoin prices are flat-lining and lower at spot rates. After welcomed gains early last week, there could be signals of fizzling upsides. Still, the uptrend remains, and the inevitable correction may offer traders an opportunity to accumulate in lower time frames. The buy trigger is around $21.5k, while support is around $20k, marking January 14 lows. #Bitcoin Technical Analysis BTC prices remain inside a $1.1k trade zone with caps at $21.6k on the upper end and $20.5k support. Even though buyers are in control, there must be a substantial push above this week's high with rising trading volumes. Any breakout placing BTC above $22k will confirm buyers of January 14, fanning the buying pressure. Being cautious, support is at $20k. As long as prices are above this line, aggressive traders may search for entries to double down in lower time frames. What to Expect from #BTC? Traders are optimistic and expect more gains in the days ahead. Note that there are lower lows versus the upper BB as momentum taper. A sharp breakout above $21.5k may trigger demand, lifting the coin solidly above November highs. Resistance level to watch out for: $21.5k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Slowing, May Pierce $21.5k in a Buy Trend ContinuationPast Performance of Bitcoin Bitcoin is pumping, evident in the daily chart. As of writing, BTC is up double digits in the last trading week, and the coin is firm above $20. At this pace, the coin may not only close above $21.5k, the immediate resistance line, but edge past $23k, confirming the bulls of mid-last week. Per the current candlestick formation, every low above $20k may offer entries for bulls. #Bitcoin Technical Analysis The path of least resistance is northwards. Because BTC buyers are confident and the current momentum solid, there could be more opportunities to buy the dips at spot rates. Note that the immediate support is at $20k. Since BTC bars band along the upper BB and inches from breaking above $21.5k, aggressive traders can search for entries to double down. This preview will be null should BTC fall below $20k, marking Jan. 14 lows. What to Expect from #BTC? There could be more gains in the next few weeks. Although a contraction is inevitable, the immediate critical support lines lie at $18.5k and $20k, respectively. Provided prices are above these accumulation zones, traders may ramp up, targeting $23k, or better in the near term. Resistance level to watch out for: $21.5k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Surges 13% in 1 Week, Traders Expect More above $21.5kPast Performance of Bitcoin The leg up, anchored on December 2022 highs, has been impressive. To quantify, BTC is up 13 percent from $18.5k and could chart even higher in the days ahead. There is a technical formation supporting this preview, a net positive for optimistic traders expecting more gains in the days ahead. For now, every low above $20k presents an opportunity for traders to ramp up their dips, targeting $23k or better. #Bitcoin Technical Analysis Bitcoin is solid and at around November 2022 highs. Notably, the expansion has been with rising trading volumes, an indicator of strength. Based on the past two days' performance, the failure of BTC to edge higher, with the momentum of mid-last week, may suggest fizzling momentum. The Jan. 15 bar closed as a bear bar, and there appeared to be profit-taking in lower time frames, forcing the coin lower. Presently, confirmation of last week's gains, pushing BTC above $21.5k, may see the coin take off towards $23k, an opportunity for buyers. What to Expect from #BTC? Buyers are upbeat, and the uptrend is defined. As Bitcoin aims to recover, bottoming up from spot levels, traders can search to accumulate on dips. This preview is valid provided BTC is above $20k and the dip with reducing volumes. Resistance level to watch out for: $21.5k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Powers Higher, Clears Liquidation Line at $18.5kPast Performance of Bitcoin Bitcoin soared seven percent in the past 24 hours, rallying above the critical resistance line at $18.5k and shaking off the bear pressure of the better part of the last two months. Following yesterday's surge in prices, BTC is in green and looks set for the next leg up towards $20k or better in the sessions ahead. #Bitcoin Technical Analysis BTC bulls are in control. There are fundamental triggers behind this spring, vividly illustrated in the daily chart. Going forward, traders may look for entries to double down on every dip, within yesterday's bull bar but ideally above $18.5k. This preview holds because yesterday's bar is with rising trading volumes and wide-ranging, breaking above a multi-week liquidation line. The immediate target for optimistic buyers is at $20.7k, marking November 8 high. What to Expect from #BTC? Inflation is reducing as the FED takes congruent steps to tame raging consumer prices. This is impacting asset prices positively and building confidence. As long as inflation continues to fall, BTC stands to gain even more. In the short term, primary support is at $18.5k. Resistance level to watch out for: $20.7k Support level to watch out for: $18.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Bitcoin Peeling Higher, Next Stop $18.5k?Past Performance of Bitcoin Bitcoin is up four percent versus the greenback in the last trading day as the coin peels higher. The brief consolidation of the weekend has been straightened as activity is re-injected, heightening volatility. With prices above $17k and $17.5k, BTC may easily breach $18.5k as the coin turns the corner. #Bitcoin Technical Analysis The path of least resistance is, in the short term, northwards. Specifically, the coin is within a bullish breakout formation, confirming the bull bar of November 30 and December 20. As it is, every low may offer entries now that the upside momentum is firm. Notice that BTC bull bars are along the upper BB, pointing to decent upside momentum. Provided prices are above $17.5k; every low is a loading opportunity for optimistic buyers angling for November 9 highs. What to Expect from #BTC? BTC is technically bearish, per the formation in the daily chart. Even though bulls are in control, the coin is trading within the bear bars of November 8 and 9, a net negative from volume analysis. Until BTC breaks out from $18.5k, the coin may form the base for another leg up to $20k, or better. Resistance level to watch out for: $18.5k Support level to watch out for: $17.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Turning the Corner, BTC May Spike to $18.5kPast Performance of Bitcoin Bitcoin is shaking the weakness of December, rallying seven percent in four weeks. This week's expansion is bullish since it keeps prices above $17k and December 20 highs, confirming demand. For this momentum to be sustained, BTC buyers must add to yesterday's gains, pushing and maintaining the coin above $17.5k. At this pace, BTC could be pushed towards $18.5k. #Bitcoin Technical Analysis Buyers are upbeat, judging from the formation in the daily chart. Even though there were attempts to reject upside pressure, the sharp bounce on January 10 is bullish. As it is, traders can load the dips, targeting $18.5k in the short term. Supporting this preview is the solid bullish engulfing bar of yesterday. This bar kept prices above $17k, sustaining the coin above December 20, a bullish formation. Since bars also align with the upper BB, the upside pressure is higher. Therefore, if prices are above $17k, traders can ramp up. What to Expect from #BTC? Bitcoin is turning the corner. However, fortunes could change if the coin blasts above $18.5k. There are hints towards this, especially if there is a follow-through of yesterday's developments. In that case, BTC could easily pierce above $18k, triggering more demand. Resistance level to watch out for: $18.5k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Off To A Start Strong, Will BTC Bulls Prevail?Past Performance of Bitcoin Bitcoin prices started the week strongly on January 9. While the coin is trading above $17k and banding along the upper BB, pointing to interest, it remains to be seen whether the uptrend will continue. BTC bulls must close above the immediate resistance line for trend definition. From the daily chart, the January 9 bar closed as an inverted hammer with a long upper wick pointing to liquidation in the NY session. #Bitcoin Technical Analysis Overly, bears are in control, considering the formation in the past few months. Critical resistance and support lie at $17.5k and $16.5k, respectively. Even so, the expansion of prices on January 10 and the surge above $17k is bullish. Presently, traders can look for entries, but only once there is confirmation of yesterday's gains above $17.5k. In that case, buyers can load the dips, targeting $18.5k or better. The liquidation in lower timeframes may cancel the uptrend, slowing down buyers. Subsequently, BTC may drop lower due to subsiding upsides. Still, if BTC remains above $16.5k, buyers stand a chance. What to Expect from #BTC? Buyers are confident that the bear run is over. Nonetheless, for trend definition, there must be substantial gains above $17.5k and $18.5k in the near term. If the surge confirms the gains of January 9, BTC may float to $18.5k and even $20k in the coming weeks. Resistance level to watch out for: $17.5k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Spins, BTC Traders Watching $17.5kPast Performance of Bitcoin Bitcoin prices continue to spin, per the formation in the daily chart. Even though market participants are hopeful, the path of least resistance remains southwards unless there are encouraging gains. As it is, buyers may edge above $17.5k with expanding volumes for trend definition. If not, sellers remain in control, weighing sellers in favor of buyers. #Bitcoin Technical Analysis The contraction of trading volumes and volatility is impacting price patterns. The daily chart has a squeeze forming, signaling flat-lining momentum. It is despite the higher highs relative to the lower BB following gains of January 6. As it is, buyers may take charge. However, this is only after there is confirmation. Conservative traders can wait for gains above $17.5k, confirming buyers of January 6 and December 20. If the breakout is with rising volumes, BTC may rally to $18.5k or better in the coming days. What to Expect from #BTC? Traders are confident of what lies ahead, hopeful the bear run is over. Nonetheless, this will mean nothing unless there are gains above immediate liquidation lines, confirming the spins of the past three days as accumulation. In the short term, the $17.5k and $18.5k levels are critical for BTC price action. Resistance level to watch out for: $17.5k Support level to watch out for: $16k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
#Bitcoin Bulls Confident, Will buyers soak In Selling Pressure?Past Performance of Bitcoin Bitcoin prices are holding on pretty solidly in the daily chart. Presently, the coin is up eight percent from November lows and rejecting bear pressure. Even though the upside momentum fell in the second half of this week, there are signals of strength. For a clear definition, there must be gains above $17k. At the back of this must be rising trading volumes to indicate participation from traders. #Bitcoin Technical Analysis Broadly, from a top-down preview, BTC is within a bear flag and trending inside a rising wedge with decreasing volumes. It is considering the spike in trading activity in early November. Nonetheless, since BTC is up eight percent from November lows and holding on solidly inside the bull bar of December 20, there is hope for buyers. Aggressive traders can wait for a close above $17k before accumulating and riding the emerging trend traced to late December. Their target would be $17.5k, and on the upper end, $18.5k. On the flip side, price contractions below $16.5k may see BTC drop to $15.5k in the resumption of the selling pressure of early November. In that case, BTC could drop to as low as $12k. What to Expect from #BTC? Bitcoin is firm, as per the formation in the daily chart. However, before initiating positions, traders must wait for prices to clear immediate liquidation or support levels. After the losses of 2022, traders can best take a wait-and-see approach. Resistance level to watch out for: $17k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Bulls Rejecting Lower Prices; Will BTC Break $17k?Past Performance of Bitcoin Bitcoin started yesterday strongly, adding three percent, only to flatline in subsequent sessions. When writing, momentum is fading, slowing down the uptrend, and puncturing bulls' optimism. Technically, there could be room for buyers. However, for buyers to tighten their grip; there must be sharp gains above yesterday's consolidation, ideally above $17k. #Bitcoin Technical Analysis There is a bull bar in the daily chart. The problem is that there is a long upper wick suggesting rejection in lower time frames. Zooming into the 4HR chart, there are lower lows versus the upper BB, meaning weakness and low participation. The good news is that prices are within the bull bar printed in the Asian session, an indicator of resilience. Still, prices need to break above $17k, ideally with expanding volumes, should this optimistic preview take shape. What to Expect from #BTC? Buyers are hopeful though prices are in range, reading from trends in the daily chart. Sellers are in charge as long as prices are below $17k and $17.5k, but buyers stand a chance as long as they hold above $16.5k. Resistance level to watch out for: $17k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Moving Sideways As Volatility Drops, Buy Trigger at $17Past Performance of Bitcoin Bitcoin's volatility continues to taper, per the formation in the daily chart. This development impacts trading activity, worsening sentiment, especially when bulls fail to convince market participants. Technically, the path of least resistance is southwards as bulls hang on, oscillating above primary support at $16.5k. It is crucial for buyers to close above $17k and reaffirm the confidence buyers had in prices in late December 2022. Briefly, prices spiked, but there was no follow-through. #Bitcoin Technical Analysis BTC prices are inside a tight trade range, moving horizontally with decreasing volumes. From the daily chart, buyers have support at $16.5k. Meanwhile, there must be a convincing close above $17k, or December 20 highs, for confirmation of the uptrend--a move that could possibly pumping prices. Since gains of early this week are yet to be confirmed, conservative traders can wait for trend definition. Any surge above $17k may spark demand. Conversely, losses below $16.5k will dampen sentiment, forcing BTC lower, aligning with sellers of early November 2022. What to Expect from #BTC? Prices are range bound. Overall, sellers are in charge, but this can change if there are gains above the current consolidation towards $17k and even $18.5k. Resistance level to watch out for: $17k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Up 2%, Bulls Must Clear $17k for Uptrend to be ValidPast Performance of Bitcoin Bitcoin is up roughly two percent from 2022 lows at press time. Amid this development, BTC remains bearish in the short term. This preview will only change once there are substantial gains above $17k and $17.5k. It will be a breakout above the immediate resistance levels. Ideally, this ought to be with rising trading volumes. If not, any contraction below $16.5k will pressure the coin. #Bitcoin Technical Analysis The coin is firm as of writing, following yesterday's gains. Day traders may look for entries to ride yesterday's bull bar if there is a spillover. However, swing traders can wait until there are clearer trends. A close above $17k and December 20 bar might be the beginning of another leg up toward $18.5k or better. On the more cautious side, losses below $16.5k and November 30 loss, puncturing yesterday's momentum, may slow the upside. In that case, BTC may drop even lower, registering a new multi-month low towards $12k. What to Expect from #BTC? Sellers are in control. Despite recent gains, there is little to write about BTC in the near term. Unless there are gains above $17.5k, bears are in control. An important liquidation line in the medium term is at $18.5k; bulls must reclaim this level for the uptrend to take shape. Resistance level to watch out for: $17k Support level to watch out for: $15.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Volatility Taper, BTC is Above a 2-Month Support LevelPast Performance of Bitcoin Bitcoin prices closed in the year 2022 with evidently tapered volatility. That uneventful price action spilled over to 2023. At spot rates, BTC is bearish, steady in lower time frames, and sellers remain in charge as long as prices are below $17k. In the days ahead, traders can monitor price action and watch how prices react at immediate support and resistance lines. #Bitcoin Technical Analysis At spot rates, Bitcoin is bearish, as mentioned earlier. The immediate resistance line is at $17k, marking December 20 high. A solid push above $17.5k with expanding volumes may see the coin rally to $18k, confirming gains of late November. However, before then, traders should closely watch price action, checking how prices react at $16.5k. Any losses below this reaction line may trigger a sell-off that may see BTC drop toward $15.5k in a bear trend continuation level. What to Expect from #BTC? BTC is under pressure, but this can change if the current consolidation becomes an accumulation. As it is, the December 20 and November 30 bull bars are significant, marking immediate support and liquidation levels. How prices break out from the tight $300 range Bitcoin is currently stuck in would ultimately shape the near-time price action. Resistance level to watch out for: $17k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Broke Lower from a BB Squeeze, Resistance at $17kPast Performance of Bitcoin The Bitcoin consolidation in higher time frames is more pronounced. In the 4HR chart, prices broke lower early this week following a BB squeeze last week. However, there are hints of strength in the near term. Presently, prices are deviating from the lower BB, printing higher highs. Even so, the primary trend remains southwards, and bears remain in charge. #Bitcoin Technical Analysis BTC prices broke lower on December 22, with the resulting selloff forcing the coin to the spot rate. There are higher highs relative to the lower BB, signaling a possible drop in momentum. However, the primary trend is southwards, and the immediate support is around $16.5k. As it is, traders can wait for a clean breakout before committing, aware that losses below $16.5k may see BTC crash to $15.5k or worse. Conversely, any surge confirming yesterday's gains in the 4HR chart may prop buyers angling for a retest of $16.7k and $17k in the short term. What to Expect from #BTC? Prices are in consolidation, and the path of least resistance is southwards despite market-wide confidence. This preview will only change if BTC breaks above $17k and $17.5k at the back of high trading volumes. If not, the odds of BTC dropping to register new 2022 lows remain high. Buyers have not been able to claw back losses in the past month and quarter. Resistance level to watch out for: $17k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Fails to Shake-off Sellers, Will BTC Crumble to $15k?Past Performance of Bitcoin Bitcoin remains in a dull trade range characterized by drooping trading volumes and volatility. Even though there were welcomed ticks early this week, prices moved lower, suggesting firm traders and a bearish trend. Therefore, based on these factors, risk-off traders can look to offload on every attempt higher, targeting $16.5k or lower. The only time this preview can shift is when BTC breaks higher. #Bitcoin Technical Analysis BTC prices are consolidating at spot rates, capped on the upper side by $17k, flashing with the December 20 bar, and $16.5k on the lower end. The support coincides with the November 20 bull bar that's influential to the current formation. Even though buyers appear to be in charge, sellers have a firmer grip on price action. As mentioned earlier, a breakout below $16.5k may trigger a sell-off as bears angle for $15.5k or lower. However, bulls will be relieved should prices recover above $17k and, ideally, $18.5k. In that case, especially if the accompanying volumes are high, BTC may rally to $20k. If not, and sellers maintain control, the coin may slip to register new 2022 lows at $15k or worse. What to Expect from #BTC? The coin is in a precarious position, reading from price action in the daily chart. BTC is within a tight range in a bearish formation. Conservative traders can wait for a clean breakout in either direction before committing. Resistance level to watch out for: $17k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin is lower, BTC Bulls can rally if Prices soar above $17kPast Performance of Bitcoin Bitcoin is printing lower at spot rates, trading below $17k, and remains under pressure despite the tight consolidation of the past few days. Overall, sellers are in control, diffusing the upside momentum and crashing hopes bulls had. The primary support is at $16.5k, marking December 20 and November 30 lows. Losses beyond this level could trigger a massive sell-off in the short term. #Bitcoin Technical Analysis For roughly ten days, BTC prices moved inside a $260 range in a bullish formation, at least if the December 20 bull bar guides. Aggressive traders can continue unloading on every attempt higher. This preview will be valid if BTC is below $17k and $17.5k, two of the immediate resistance levels. In that case, the first target can be $16.5k. More profound losses may pave the road for $15.5k in the short term. However, if there are reversals from spot rates, price gains above $17.5k may see BTC rise to $18.5k, an opportunity for risk-off traders. It will be especially so if the accompanying trading volumes are comparatively high. What to Expect from #BTC? BTC is wavy and neutral at spot rates. From a top-down preview, sellers have the upper hand. However, all this could change should unexpected gains confirm buyers of December 20 and November 30. Resistance level to watch out for: $17k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin in a $260 Range, Will BTC Hold Above $16.5k?Past Performance of Bitcoin Bitcoin prices remain in range mode, reading from the performance in the daily chart. However, while a BB squeeze form and BTC consolidate inside a bull bar, at least from the past few trading days, bears remain incredibly in charge. Any attempt for higher prices has been met by resistance now that there is a bearish pin bar with a long upper wick suggesting liquidation. #Bitcoin Technical Analysis BTC prices are in a $260 range for the sixth straight day with a clear short and medium-term cap at $17.5k. Bears remain in control despite general confidence from traders. There is a BB squeeze and consolidation in the daily chart. Therefore, even though the December 20 bull bar shapes price action, conservative traders can wait for a clean breakout above $17k. Any surge in confirmation of the bull bar may see BTC float to $17.5k or better. Conversely, losses below $16.5k will cause panic across the board, possibly triggering a sell-off. What to Expect from #BTC? BTC prices continue to consolidate, and bears have the upper hand. Once there is a clear breakout, traders can post positions to ride the emerging trend. Resistance level to watch out for: $17.5k Support level to watch out for: $16.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer