The title really says it all by itself. It is the first time that Bitcoin makes contact with the 1D MA50 (blue trend-line) since May 12, which was the start of the very aggressive 1 week sell-off that dived below 30k.
What is critical now is whether or not the price can close a 1D candle above the MA50, as so far yesterday's candle failed to do so. A closing...
BTC has been stuck in a range for 3 months. The more the range boundaries are tested, the weaker it becomes.
But the question is => Which way is it going to break?
Scenario 1: Bullish Reversal
In this case, we will need a momentum Daily candle close above the 41k to confirm it, then we will be looking for buy setups on its retest.
Scenario 2: Bearish...
30K support still holds and continues to be the SUPPORT AREA in play. In the context of the bigger picture, this area is a HIGH risk for shorts because the location is a higher low within a broader BULLISH trend. In this situation it is particularly important to pay attention to what you CAN'T SEE, rather than getting caught up in single candles.
Welcome to this analysis about Bitcoin, we are looking at the 2-day timeframe perspectives. As already mentioned in previous analysis Bitcoin is right in an accumulation phase in which institutions bought in and public opinion is manipulated through media and certain developments that spread the certain cause of a further continuation of the bearish...
Welcome to this analysis about Bitcoin, we are looking at the 6-hour timeframe perspectives. Recently Bitcoin has shown up with bullish volatility to the upside from the 29500 support as expected and now began to form the 12345 impulse-wave as expected, if you did not see the analysis already where I mentioned this elliot-wave-developments and the...
So far Bitcoin has had a good couple of days and I see lots of people in real life as well online starting to get bullish and looking at putting on some big bets and so far I don't see the justification for that enthusiasm. I will link some ideas that make the macro bearish case to keep this post from ballooning even more.
The bollinger bands can...
i took a closer look at this recent rally, and i can't help but feel like something is off about it. my intuition is telling me that this is yet again another phase of distribution before the deeper drop to lower lows.
it would explain the unusual volume spikes in this 34k range.
my downside projection sits at 25.5k as of this morning, and until the charts...
". There is a possibility of temporary retracement to the suggested support line (32877.1).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. BTCUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Personally, since the RSI and the KDJ are already on a very high level, I expect a further downtrend if around the shown resistance line, sooner by closing under it or later by going down around this area, if its the 2. way, I would go short when the shown line is broken from above (closing) under it...
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It didn't go exactly textbook schematics but it has its key points. Interesting to see some shakeouts in the coming days to test the validity of the bull. Let's enjoy the ride. I personally will buy the dip in 32900 and 31500 if there is any in coming week
Based on earlier and similar situations I expect Bitcoin to bounce to the 200D MA, after which it will return to the 50W MA. The 50W MA will be tested with some sideways movement and will eventually fail, after which Bitcoin will go to lower regions and find support on the 200W MA.
Cryptocurrencies have positive news that makes buyers act with their prospects.
They are trying to redeem the instrument and restore it in price.
I expect growth to the upper border of the trading range - 41,000
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