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#Bitcoin in a Wedge, BTC Has Vital Support at $27kPast Performance of Bitcoin Over the weekend, Bitcoin prices moved lower. The sharp drop on May 6 wasn't confirmed on May 7. As such, the coin remains within a $4k trade range with resistance and support at FWB:31K and FWB:27K , respectively. Still, the uptrend holds, and prices are now inside a wedge after sharp gains from mid-March 2023. #Bitcoin Technical Analysis As it is, bulls are in control. With prices inside a bear flag, traders are watching out for how prices will react at FWB:27K on the lower end. On the upper end, the resistance trend line, coupled with immediate resistance levels at $30k and FWB:31K , is important. Unless there is a breakout, traders should watch from the sidelines. Since the primary trend from a top-down preview is bullish, gains above $30k and, ideally, FWB:31K could propel the coin toward $35k. Conversely, losses below FWB:27K may see BTC slip to FWB:25K in a bear continuation from the second half of April. What to Expect from #BTC? Traders are cautious, reading from decreasing participation levels. Even as prices move inside a wedge, trading volumes are relatively low. Traders can wait for trend definition with bulls with the upper hand considering gains of the past few months. Resistance level to watch: $30k Support level to watch: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Flat-Lining below $30k in a Possible DistributionPast Performance of Bitcoin Bitcoin is uneventful when writing. The coin is generally lower, trending below $30k. However, since it is above $28.3k and FWB:27K is still a valid reaction point, traders should wait until a convincing breakout. The spike, in either direction, should be with rising volumes. #Bitcoin Technical Analysis BTC prices are inside the Doji bar printed on April 26. In the short term, sellers from April 19 to 21 define the immediate trend. The resulting consolidation has capped the uptrend and prevented sellers from causing more damage to bulls. Therefore, while the upswing remains from a top-down preview, traders can wait for a clean breakout below FWB:27K or above $30k, and preferably FWB:31K , before engaging. What to Expect from #BTC? The consolidation is sapping momentum. In a possible distribution, sellers have the upper hand from an effort versus result preview considering losses from mid-April. FWB:27K is a critical buying zone that, if lost, could see BTC crater to FWB:25K in a bear continuation pattern. Resistance level to watch: $30k Support level to watch: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Accumulating, Upside Capped At $31kPast Performance of Bitcoin Bitcoin reacted to fundamental events in the United States and stayed above FWB:27K and $28.3k. When writing on May 4, the uptrend remains, but sellers have a chance since buyers didn't reverse recent losses. Immediate support is at $28.3k, while bulls must break above $30k before the uptrend resumes. #Bitcoin Technical Analysis In the daily chart, like in small time frames, BTC is in a tight trade range. In a bearish breakout formation, traders expect BTC to edge lower in sync with the May 1 bear bar, further confirming losses of April 19. Prices remain inside the bear flag, and $30k limits the uptrend. Conservative, risk-on traders can wait for a clean break below FWB:27K before riding the emerging trend. Conversely, until there is a convincing break above the current flag and later FWB:31K , the bear run from the second half of April is still valid. What to Expect from BTC? The sideways movement of the coin could be accumulation or distribution depending on the breakout direction. From a top-down preview, FWB:27K and FWB:31K are critical reaction levels. Resistance level to watch out for: FWB:31K Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Recovers but Remains Bearish Below $30kPast Performance of Bitcoin Bitcoin prices bounced back on May 2, reversing losses. Bulls are finding reprieve with the coin 2% higher in the past 24 hours. However, the path of least resistance remains southwards in the short term. As long as prices are inside the bear bar of May 1, every high is an unloading opportunity for aggressive sellers targeting FWB:27K and FWB:25K in short to medium term. #Bitcoin Technical Analysis BTC is pulling back after sharp gains in the past four months. There are signals of weakness, but price action remains in a breakout formation. For now, traders can watch out for how prices react in the short term. With the primary support marked at FWB:27K , any high-volume loss below this level might trigger a sell-off towards FWB:25K , an opportunity for conservative traders. Still, aggressive traders can look to unload on every attempt higher but within the bear bar of May 1. Targets remain at FWB:27K and later FWB:25K if sellers press on. Any expansion above $30k cancels this bearish outlook. What to Expect from #BTC? Buyers are confident, but the current trend favors sellers. Still, the bounce on May 2 doesn't mean sellers have the upper hand. If anything, sellers remain in charge if prices are below $30k. Further losses below FWB:27K would draw in more sellers. Resistance level to watch out for: $30k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Crashes, Are Sellers Targeting $25k?Past Performance of Bitcoin Bitcoin is fast dropping, looking at how prices performed at the start of May. Presently, the coin is down 7% and within a bear formation set in motion from April 19. Critical support and resistance levels in the current setup remain at FWB:27K and $30k, respectively, following the drop below $28.3k. Overall, sellers have the upper hand in the short term even though the path of least resistance from a top-down preview is still northwards. #Bitcoin Technical Analysis Bears are in the driving seat following yesterday's losses, and aggressive traders may look to sell. Since the May 1 bear bar is engulfing and wide-ranging, traders can look to hitch the downtrend on every attempt higher below $28.3k. Immediate support is now at FWB:27K , marking April 2023 lows. Even so, for a more precise trend definition, there must be a high-volume close below FWB:27K for confirmation of sellers. As such, conservative traders can wait for this to print out before engaging, targeting $25k. Any unexpected surge above $30k and April 26 highs would cancel this preview. What to Expect from #BTC? Overall, the uptrend is firm, and BTC surged over 50% from mid-March 2023. As it is, primary support lies at FWB:27K , while resistance is marked at $30k. Although yesterday's bar may anchor the unfolding bear trend, a comprehensive close below the current trade range is vital. Resistance level to watch out for: $30k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
CRYPTO:BTCUSDShort
by Bitcoin_Analyzer
#Bitcoin Dumps after an Inverted Hammer Formed, Support at $27kPast Performance of Bitcoin Volatility spiked on April 30, temporarily forcing prices higher. Of note, volumes rose. However, this wasn't enough to sustain bulls. The result was an inverted hammer with the long upper wick pointing to the rejection of higher prices. The dump down pushed BTC back into range and anchored today’s liquidation in the Asian session. With BTC fast falling, the coin may drop below FWB:27K if bears maintain this pace. #Bitcoin Technical Analysis While the path of least resistance is northwards, there are concerns about the bulls’ strength in the short-term. Resistance remains at $30k while primary support at $28.3k is being retested. With the inverted hammer of April 30, it capped a solid performance in April but only for bears to cancel out gains of the last week of April. For now, traders can stay away from the charts until there is a definitive breakout above the current consolidation at $30k or $28.3k, ideally, FWB:27K , in the coming sessions. If buyers come on top, rewinding today’s losses, BTC may float to as high as FWB:31K ; an opportunity for buyers to ride the trend. Conversely, any rejection below FWB:27K as bears add to the current losses disqualifies the current preview, possibly forming the base for a leg down toward $25k. What to Expect from #BTC? Buyers of April 25 through 27 shape the present trend, reinforcing the uptrend. However, whether buyers will drive through depends on if BTC will hold above $28.3k and ideally $27k. Resistance level to watch out for: FWB:31K Support level to watch out for: $28.3k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Remain Firm, Path Back To $31k?Past Performance of Bitcoin For a brief moment on April 26, Bitcoin prices soared to as high as $30k before flash crashing back towards $28k in what turned out to be a volatile NY session. At this pace, the spike in trading volumes and a Doji bar printing capped an evening of indecision. BTC prices contracted but recovered strongly early today as traders doubled down on the undervaluation of April 26. Since prices are above the $28.3k level and trading above the recent consolidation defined by the April 21 bear bar, the odds of BTC rising to $30k and FWB:31K remain amplified. #Bitcoin Technical Analysis Bitcoin prices are volatile when writing. The flash crash that unwound most gains posted yesterday saw BTC lose over $2k in an hour. Buyers remain in control above $28.3k, an endorsement for optimistic traders. For sellers of April 19 through 21 to take charge, there must be a convincing close below FWB:27K with the same rapidity as of April 26. In that case, BTC may drop to FWB:25K in a bear trend continuation formation. As it is, provided BTC is above $28.3k, aggressive traders can look to load the dips, targeting $30k and FWB:31K in the near term. What to Expect from #BTC? A Doji bar in the daily chart at the back of high trading volumes points to a balanced ecosystem. Still, BTC ended up higher, above $28.3k, confirming gains of April 25. This development has also been confirmed today following gains above $29k. For bears to take charge, BTC prices must first unwind gains of the past two days and slip below $27k. Resistance level to watch out for: FWB:31K Support level to watch out for: $28.3k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Rejects Bears, Will Bulls Build On Gains?Past Performance of Bitcoin Bitcoin prices recovered slightly on April 25, bouncing from around the FWB:27K primary support. While the boost was positive, BTC is still not out of the woods, and prices might collapse if there is no follow-through in sessions ahead. For now, important reaction lines remain unchanged at around $28.3k and FWB:27K , defined by the bear candlestick of April 23. Because of this state of affairs, BTC is still bearish, with the bear bars of April 19 through 21 shaping the immediate to medium-term trend. Overall, from a top-down preview, buyers have a chance though only after there is a sharp reversal above $31k. #Bitcoin Technical Analysis Looking at the general trend of the last four months, the path of least resistance is northwards. BTC might be down roughly 8% from recent peaks. However, buyers remain in control. For upward trend resumption, there must be a convincing break above the local resistance line at $28.3k. This would unwind losses of April 23, setting the base for another leg up for FWB:31K , especially if the breakout is with high participation levels. If not, losses below FWB:27K with similar rapid movement would cancel out the bullish outlook as BTC drops closer to $25k. What to Expect from #BTC? Buyers are confident, but their optimism will be confirmed if there are price gains above $28.3k towards $30k. Any contraction reversing recent gains might see BTC drop to critical reaction levels, especially February 2023 highs. Resistance level to watch out for: $28.3k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
CRYPTO:BTCUSDShort
by Bitcoin_Analyzer
#Bitcoin Consolidates, BTC Finds Support at $27kPast Performance of Bitcoin There is no reprieve for Bitcoin bulls, looking at the arrangement in the daily chart. BTC edged lower yesterday and could likely dip in the sessions ahead unless there is a sharp recovery above $28.3k, clearing the highs of April 21. Meanwhile, traders are bullish because sellers didn't push prices lower below the FWB:27K support level yesterday. Since the immediate trend is dictated by the bear bar of April 19, the failure of sellers to follow through on April 24 is welcomed, at least for now. Traders should closely monitor how price action prints out within the above-defined ranges in the sessions ahead. #Bitcoin Technical Analysis The April 19 bar dictates the current formation. Follow-throughs in subsequent sessions capped with the bear bar of April 21 that shapes the immediate state of price action. Notice that prices are in range, inside the bear bar of April 21, with caps at $28.3k and $27k. Although bulls might be in the driving seat from the top-down preview, sellers are in control now. Still, participation levels are low. Therefore, if BTC crumbles below FWB:27K , confirming losses of April 27, ideally with above-average volumes, the coin might drop to the FWB:25K region in a retest. What to Expect from #BTC? Buyers will have a chance if prices continue consolidating. A recovery above $28k will be welcomed. For now, BTC is in a precarious position. Losses below last week's low may trigger another wave of solid sell-offs. Resistance level to watch out for: $28.3k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
CRYPTO:BTCUSDShort
by Bitcoin_Analyzer
Bitcoin Dumps 10%, BTC May Crash To $25kPast Performance of Bitcoin Bitcoin crashed 10% from April highs last week. Prices remain below a critical support level when writing. The daily chart shows prices are stuck in a tight horizontal range below $28.6k. While the contraction was expected after continuous expansion in the better part of Q1 2023, the current correction is with relatively low trading volumes. Technically, this is supportive of buyers. Even so, how prices pan out in the next few trading sessions depends on whether bears will extend last week's gains. Any loss below FWB:27K would likely accelerate the dump, forcing the coin toward $25k. Bitcoin Technical Analysis The selling pressure of last week will likely spill over. There was a spike in selling volumes in the second half of last week, forcing the coin below FWB:29K and $28k. However, participation is relatively low. For now, resistance remains at $28.3k while support is at FWB:27K , the trading range of the bear bar of April 21. Aggressive traders can look to short on every attempt below $28.3k. Still, there are better opportunities below FWB:27K , especially if there is a high-volume breakout below $27k. In that case, BTC may drop to February highs at FWB:25K in a retest. What to Expect from BTC? BTC is bearish and under pressure. The correction was expected and came after a 55% surge from mid-March. Reaction levels in the medium term remain at FWB:25K and $31k. If bears press on, BTC will likely drop to February 2023 highs. Resistance level to watch out for: $28.3k Support level to watch out for: FWB:27K Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
1
#Bitcoin Extends Losses, BTC Uptrend Likely OverPast Performance of Bitcoin Bitcoin prices are under pressure when writing on April 21. The drawdown of April 19 was confirmed yesterday as the coin sank lower. Presently, the coin is retracing from this month's highs, and FWB:31K remains to be an important reaction point. Unless there is an expected expansion above the immediate reaction level, the path of least resistance is southwards. Notice that the bear bar of April 19 is engulfing and is noticeable with high trading volumes. For this reason, traders can search for entries to short, aligning with the emerging bear trend as they set eyes on $26.6k or lower. #Bitcoin Technical Analysis In the short term, sellers are in control. The path of least resistance is southwards. The failure of buyers to flow back and resist lower prices of April 20 means the current correction could continue for the sessions ahead. Since prices are below $29.6k, the April 10 high and reaction level, every attempt high may be an unloading opportunity for sellers angling for $26.6k in the short term. This preview will be valid as long as prices, even in a recovery, are trending inside the April 19 anchor bear bar. What to Expect from #BTC? After weeks of encouraging expansions as BTC recovered from the crypto winter, the coin may be overheated. The cool-off being experienced doesn't entirely cancel out the uptrend. Still, the coin may drop lower in a retracement, retesting $26.6k or lower. Resistance level to watch out for: $29.6k Support level to watch out for: $26.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Is Choppy; BTC May Drop To $26.6k in a Cool-OffPast Performance of Bitcoin Bitcoin unexpectedly plunged on April 19, sinking below $30k as price action continued to be choppy. The heightened volatility is amid the general contraction across other asset classes. Currently, the drawdown means BTC is below FWB:31K , a critical support line, and also back below $29.6k, swinging price action in favor of the April 17 bar, which is bearish. Whether BTC will continue dropping in subsequent sessions, remains to be seen. However, for buyers to be in control there must be a solid breakout above FWB:31K , with expanding volumes nullifying the selling pressure of the past few trading days. #Bitcoin Technical Analysis BTC is bullish, at least from a top-down preview. For now, though, the uptrend momentum is dropping, and sellers are pressing on. The drop of April 19 reflects the general state of the market and seems to confirm April 17 formation. As it is, sellers can load on every attempt higher below $29.6k. If there are further losses reversing the gains of April 10, the anchor bar of this uptrend, BTC may drop towards $26.6k in a retest. This move would offer traders an opportunity to ride the sell-off. What to Expect from #BTC? The uptrend is defined, but a cool-off is normal after months of higher highs. For now, traders should watch what today's close will be like. Deeper losses may see BTC drop even further, reversing April 10 losses towards March 22 lows. Resistance level to watch out for: $29.6k Support level to watch out for: $26.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
1
#Bitcoin Reverses Losses, BTC above Critical Support At $29.6kPast Performance of Bitcoin Bitcoin prices rebounded strongly on April 18, reversing losses the previous day. With the bounce, the coin is back to a bullish formation. However, there needs to be an assurance that comes with a high volume close above $31k. Only then will BTC likely float higher, aligning with the anchor bull bar of April 10 that defines the current formation. As it was, the immediate support is at around $29.6k, a reaction line flashing with the April 10. Provided prices are above this line; there could be more room for expansion in the days ahead as buyers flow back, pushing the coin higher. #Bitcoin Technical Analysis The path of least resistance remains northwards. Even though there are hints of weakness, the rejection of lower prices on April 17 points to general demand. Therefore, as long as prices are within or above the April 10 bull bar, buyers are in charge from an effort versus result perspective. Traders can look to buy on dips above $29.6k, targeting FWB:31K and later $32k. However, conservative bulls can wait for a solid close above FWB:31K before riding the emerging trend toward $32k and $35k. This will be especially so if the breakout bar is with expanding volumes. What to Expect from #BTC? Buyers are upbeat and confident that BTC is on a recovery path after the losses of last year. Still, before then, the volatility of the past two days means traders can wait for a clear short-term definition despite buyers being in control. Resistance level to watch out for: FWB:31K Support level to watch out for: $29.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
Bitcoin bybit chart analysis April 17 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. For those of you who have been holding long since yesterday, I think it will be a pretty sweet profit section. *In arrow movement path 1. Entry into long position at HKEX:29874 / stop loss when breaking the purple support line $30441.5 1st target -> Top 2nd target -> Great 3rd target There is an announcement at 9:30 Please refer to the Nasdaq movement in real time and operate it safely. If the strategy is successful, Altcoins are as recommended It looks like there will be good movements in major + minor altcoins at the same time It's been a long time since I've been in the middle of a whole fire. My analysis is for reference only. I hope you operate safely with principle trading / stop loss essential. thank you
BYBIT:BTCUSD.PLong
by BitCoinGuide
#Bitcoin Cracks Emerging, BTC Bull Run Coming To An End?Past Performance of Bitcoin Bitcoin prices are melting at spot rates. The disintegration of April 17 is noticeable and wide-ranging. Since it is a bearish engulfing bar, dropping below April 10 bull bar with decent participation, the bullish preview has been nullified, and sellers appear to be in control. This follows the consolidation and divergence from the upper BB, suggesting a dropping upside momentum. Since prices are below $30k, a psychological reaction line, and the uptrend is stretched, today’s close can determine whether bulls’ resilience will be broken. Ideally, any close below FWB:29K by today’s close will be a big blow for optimistic traders. #Bitcoin Technical Analysis Presently, the April 17 bear bar is engulfing. It noticeably prints after buyers’ momentum fizzled out, resulting in the pin bar on April 14. Since prices over the weekend didn’t edge higher above FWB:31K , instead contracting inside the pin bar, sellers could be taking over. Accordingly, traders can look for entries to short with targets at February highs at around $28.6k and, later, March 22 lows at $26.5k. This preview will be nullified should there be a sharp expansion above FWB:31K with expanding volumes. What to Expect from #BTC? After an impressive surge from December, bulls are struggling. The momentum is falling, and buyers appear to be taking their profits. Yesterday’s bar follows the pin bar of April 11. As it is, traders can unwind their longs, especially if today closes even lower. Resistance level to watch out for: FWB:31K Support level to watch out for: $28.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
#Bitcoin Retraces, BTC bullish above $29.6kPast Performance of Bitcoin Bitcoin prices remain higher when writing, steadying above $30k as buyers soak in selling pressure on April 14. Then, bears were in control as a pin bar formed. Looking at the chart, the failure of buyers to press lower on April 15 and 16 below $30k means the uptrend momentum is high. There could be more gains towards $32k and $35k in the sessions ahead. #Bitcoin Technical Analysis BTC is within a bullish breakout formation, surging above the rising channel. Since the bull bar of April 10 is with rising volumes and subsequent bars are relatively higher, above FWB:29K , every low is a loading opportunity. Traders can look for entries above the April 10 highs of $26.5k, with the next target at $32k and later $35k, marking January 2022 lows. What to Expect from #BTC? Traders are confident despite the current contraction. The rejection of prices below $30k over the weekend cements this bullish preview. As such, market participants can look for entries on every dip, targeting last week's highs, $32k, and other key reaction points in the short to medium term. Resistance level to watch out for: $32k Support level to watch out for: $29.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Bulls Firm, Next Target $32k?Past Performance of Bitcoin Bitcoin broke off higher on April 13, looking at the performance in the daily chart. Overall, the uptrend remains. Prices are trending above $30k, a psychological level. Support remains at FWB:29K , marking March highs. Since BTC is within a bullish breakout formation above the rising channel, every dip may offer entries for optimistic buyers. #Bitcoin Technical Analysis Although volumes are low, BTC buyers are resilient, rejecting the bears of April 12, looking at the performance in the daily chart. Besides, prices are firm above $30k as bars align along the upper BB. This may suggest that the underlying momentum is high and may prop buyers aiming for even more gains in the days ahead. Notice that the BTC upward structure is still valid. Presently, prices are above the rising channel and primary support at around $29.3k. At this pace, buyers should target $32k in subsequent sessions as the bulls of Q1 2023 flow back. What to Expect from #BTC? The rejection of lower lows on April 13 and the alignment of prices with the bull bars of April 10 means the uptrend is still valid. As such, BTC could still soar to new H2 2023 highs if prices are above FWB:29K in the sessions ahead. Resistance level to watch out for: $32k Support level to watch out for: FWB:29K Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Stagnates But Uptrend Remains above $29kPast Performance of Bitcoin The daily chart shows that Bitcoin prices are higher but remain under pressure. For example, on April 12, prices were generally lower, around the $30k level. Even so, the uptrend remains, and the bullish breakout pattern set in motion on April 10 is still valid. Accordingly, as long as prices are above FWB:29K , buyers have the upper hand, and there could be more room for expansion in the days ahead. For now, whether prices will edge lower in a retest or not will determine the speed at which bulls will push the coin higher in sessions ahead. #Bitcoin Technical Analysis Buyers from mid-March 2023 are still in charge despite the contraction of April 12. A noteworthy observation is that prices are still trending above the rising channel, and FWB:29K remains a critical support and reaction point. Therefore, provided the contraction is with light volumes and prices are above FWB:29K , buyers can look to double down, aligning with buyers of April 10. This is valid from an effort versus result perspective, permitting optimistic buyers to load on dips targeting $32k or better. Conversely, this preview will be null should BTC drop sharply below FWB:29K , even rewinding gains of the anchor bar of April 10. What to Expect from #BTC? For now, aggressive traders can buy on dips if prices are above FWB:29K and, ideally, April 10 lows. There could be more room for growth in the sessions ahead, provided buyers successfully soak in selling pressure and reject yesterday's bears. Resistance level to watch out for: $32k Support level to watch out for: 29k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Pierces $29k, BTC Uptrend of Q1 2023 ResumesPast Performance of Bitcoin After roughly three weeks of sideways movement, Bitcoin prices broke higher on April 10. There are hints of strength, reading from the performance in the daily chart. Per the current layout, traders can look to load the dips and align with the primary trend established in Q1 2023. Currently, bulls have broken above the resistance at March highs. The BTC rally aims for $32k as the trend established from December 2022 continues in April 2023. #Bitcoin Price Analysis Buyers are in control and trading above $30k, above critical liquidation levels in March 2023. Besides, trading volumes are expanding, meaning momentum is picking up. In this formation, buyers of March 17 are flowing back and solidifying the uptrend. Therefore, from an effort versus result perspective, traders can load the dips whilst targeting $32k in the subsequent few sessions. Interestingly, from the daily chart, trading volumes are high, meaning there is participation from traders, a development that can inject more momentum. What to Expect from #BTC? Participation is rising and coincides with the upswing, supporting buyers. As it is, every low may offer entries for aggressive traders targeting $32k or better. This preview will hold as long as BTC is above the middle BB and $27.8k or April 9 lows. Resistance level to watch out for: $32k Support level to watch out for: $27.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Remains Stuck, Bulls Fail To Break $29kPast Performance of Bitcoin Bitcoin prices are relatively lower when writing, reading from the performance in the daily chart. Even though the buyers have the upper hand, the failure of prices to edge higher over the weekend should be a concern. Already, candlestick arrangement and volume analysis show that momentum is waning. However, while this exists, it is until there is a sharp breakout above the current trade range for the trend to be established. #Bitcoin Technical Analysis Prices remain unchanged, and trading volumes are subdued when writing. At the same time, BTC is within a tight range broadly defined within a rising channel. Even though the uptrend remains and prices remain within a wedge of a predominantly bullish formation, traders can only commit after prices break above key reaction levels. In the short term, the main buy trigger will be at March 2023 highs, while support lies at March 22 lows at around $26.6k. Traders can stay on the sidelines until there is a swing in either direction. What to Expect from #BTC? Buyers are confident of what lies ahead. However, as it is, the uptrend remains subdued, and buyers are struggling to maintain the upside momentum. Resistance is at FWB:29K , while support is at the base of the high-volume bear candlestick of March 22. Resistance level to watch out for: FWB:29K Support level to watch out for: $26.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Stagnates, Will Bulls Keep Prices above $26.6k?Past Performance of Bitcoin Bitcoin prices are drab when writing, confined within a tight trade range at around $28k. This is despite the primary trend being bullish. As it is, traders should wait for a clear trend definition before aligning with the emerging trend. Until there is a sharp, high volume close above $29k, bears might flow back and press prices lower. #Bitcoin Technical Analysis The path of least resistance is northwards, reading from the formation in the daily chart. Still, there are concerns about the validity of the uptrend and whether buyers will continue maintaining the same upside momentum as of mid-March 2023. The chart shows that buying pressure is waning as participation levels taper, an indicator of cautious traders. Therefore, unless there are breakouts in either direction, above $29k or below $26.6k, conservative traders can stay on the sidelines until there is a trend definition. The immediate term, for now, is anchored on the March 29 bull bar. Although volumes are comparatively low, the trend favors bulls from an effort versus result perspective. What to Expect from #BTC? Traders are optimistic about BTC's prospects. Though the current accumulation might draw momentum, weakening the uptrend, there are clear indicators that buyers still have strength. Still, resistance and support levels remain evident in the short term since prices have stagnated for the past two weeks. Resistance level to watch out for: $29k Support level to watch out for: $26.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
Bitcoin bybit chart analysis April 6 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's a one-way neutral strategy. Because of the recent Nasdaq move Analysis is difficult because of the large number of cases. It doesn't come out in any direction, and it's shaking up and down. In the case of tether dominance It is a condition that can rise strongly, In the case of Nasdaq, it is competing near the major support line. *One-way neutral strategy for light blue finger movements. It is a short -> long -> short switching strategy. 1. Entry into short position at $28,017 / stop loss when orange resistance line is broken 2. $27579 long position switching range / stop loss when breaking the light blue support line I caught enough of the hand loss Please pay attention to the Nasdaq movement during long switching. My analysis is for reference only. Please operate safely as principle trading / stop loss is essential. thank you.
BYBIT:BTCUSD.P
by BitCoinGuide
#Bitcoin Sideways Movement Continues, Upside Momentum DroppingPast Performance of Bitcoin Bitcoin prices remain firm at spot rates but flat in lower time frames. Even though traders are upbeat, wanting BTC to push higher to new territories, the coin's failure to break above immediate resistance lines is challenging. The coin has a liquidation line at $29k, marking March highs. On the lower end, support is at around $26.6k, with the rising channel a formation to consider for traders waiting for a breakout formation. If anything, any spike or dump below any of the levels mentioned above may trigger a rally or sell-off, shaping the coin's short-term trend. #Bitcoin Technical Analysis From the daily chart, yesterday's bar closed as a mixed bar. There is equal buying and selling pressure, an indicator that traders are well-matched. Still, this doesn't break the dominant formation, which is bullish. The drop in momentum means volatility is also low, explaining the tightening Bollinger Bands, which might form a squeeze. Optimistic and conservative traders can steer clear until there is a close above $29.3k, possibly opening the door for $32k or better. On the reverse side, losses below the March 29 bull bar, the rising channel, and ideally $26.6k will swing the medium-term trend to bearish in a contraction after a solid performance in Q1 2023. What to Expect from #BTC? The horizontal, low-participation consolidation continues as yesterdays far closed lower in a well-balanced bar. Technically, the uptrend remains, but there are lower lows relative to the upper BB, signaling weakness and low momentum. Whether buyers will be sustained depends on how prices break out going forward. Resistance level to watch out for: $29k Support level to watch out for: $26.6k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer