Oh what a difference a day makes. Yesterday the world was celebrating the break of the 50 MA as resistance, now we are wondering if it can hold after showing weakness into the daily close and follow through to the downside. This is a chop fest, really difficult to trade. Bulls and bears should have relatively low conviction. Let’s see how the daily candle closes.
Multiple developments are catching our attention as Bitcoin trades near the lower bound of the upward-sloping channel. First, for the past twelve days, there has been one of the most aggressive increases in the number of Bitcoin addresses with balances exceeding 1,000 BTC; at the same time, the opposite has been happening among the addresses with balances...
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Bitcoin 30-minute chart.
There will be an announcement of Nasdaq indicators at 12 noon.
There is a high possibility of sideways movement from...
CRYPTOCAP:BTC #BTC $43,522 resisted hard, back below $43,145 support, current 4h with bearish engulfing could test $42,070 support if played out, $42,070 & $40,583 next support areas to watch, must regain $44,860.
Hi Everyone! I've been looking at MANY time frames; ranging from the 12h up to the 12-Week time frame for the past several hours. I've come to the following conclusion: We have very strong support at the Magenta Upper B-Band in the 11-Day time frame. Does this mean it's not possible to fall below the Magenta Upper B-Band? No... It's "possible" to see a quick...
I am definitely not going to win any popularity competitions with my comments and thoughts. But that's not the point when it comes to making money.
The main issue for me still in Crypto Land is the lack of realism. The image on the front cover was from a google search of "realism" I guess the confused face made my day. This is exactly how you need to be looking...
And we are back with BTC after seeing the price enter that liquidity zone, which we have been talking about for some time now.
As of now, the price is showing some weakness and a potential re-test to happen at $40K, which we are looking to fully break in order to see further movement to lower zones!
The start looks promising 😉
Based on the chart:
If Bitcon gets rejected at $44K then im expecting a micro correction cycle to around FWB:41K before we can continue going up, so lets wait and see.
The micro correction will be creating micro wave 2 correction cycle before we can see and impulse cycle from FWB:41K to complete micro wave 3 cycle of wave 5 impulse cycle to $50K or above...
BtcusdSupporting the bullish outlook are the Relative Strength Index (RSI) and the Awesome Oscillator (AO) momentum indicators. The RSI has overcome the 50 mean level and is retesting it as a support, which is a bullish indication. The AO is close to flipping above the zero level, which shows a shift in momentum favoring bulls.
In such a case, Bitcoin price...
BTC’s case, the imbalance was formed due to a spike in buying pressure, so a retracement into this area will be a good place for sidelined buyers to open a long position.
While this short-term play shows promise of a quick upside, investors need to be mindful of the big picture as well. As mentioned in a previous publication, Bitcoin price needs to produce a...
January has been a mixed month for Bitcoin. The coin jumped to a multi-year high of $49,010 after the SEC gave the green light for eleven spot ETFs. This was an important move because it took Bitcoin mainstream and made it available to institutional investors.
Bitcoin then retreated sharply as investors sold the ETF news. It moved from $49,070 to a low of $38,510...
What do you guys expect happening before and until the halving? Stock market is hitting all times high, crypto will probably do too at some point. The question is when and how. Are you guys expecting a pull back to 32-38k ?
Price is rising toward the pivot point of 43008.24, a pullback resistance that aligns with the 38.2% Fibo retracement. A reverse from this point could lead the price to fall to 1st support at 4228.79.
If price breaks below the pivot, it could fall to 1st support at 43799.45, a swing-low support level
In the today's post, I will compare support and resistance levels with supply and demand zones.
I will explain to you the difference between them and share important tips and examples.
What are support and resistance levels?
We also call them key levels. These are particular levels on a price chart from where in the past we saw significant bullish or...
The current bounce wave looks to be done.
Now we watch and prepare at each support.
Which supports hold or not will be telling.
42,789 is the first support, a Genesis fib.
42,200 is next, Covid + local fib confluence.
41,405 is a minor support that may slow bears.
40.4k is the CRITICAL support that bulls MOST HOLD
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This is an update to the fib picture idea...
BTC is currently hovering within a very important zone.
Zone is defined by confluence of Genesis and Covid fibs.
These high timeframe fibs have caught all major turns.
The zone of relevance is $ 42,200 to 42,789 (on coinbase).
This may be a turning point into retrace before continuation.
Bulls' best strategy will be to hold this zone thru the weekend.
Strong...
BITSTAMP:BTCUSD CRYPTOCAP:BTC Bitcoin
Target PTs 74,000 --> 72,000 --> 75,000 --> 65,000
Long term Target PT 400,000 and higher
About Bitcoin (BTC)
Bitcoin (BTC) is a cryptocurrency launched in January 2009, where the first genesis block was mined on 9th January 2009. It is a decentralized digital currency that is based on cryptography. As such, it can...
