Short-term analysis
Price is near local support and is in range zone here for while, as we can see two major support and resistance here also mentioned that only after breaking this range zone we can expect pump | dump to targets that mentioned on the chart.
valid breakout is a breakout with high volume as confirmation.
4H chart and better view:
...
price again is near resistance zones and at previous times we had a correction from these resistance zones.
The main resistance ahead for BTC is 60K$ resistance and the main support is 52K$ support. (daily)
breaking these trendlines here can make price stronger and only after breaking 60K$ price can easily pump and the market is again bullish.
Else we have...
BTC had a nice absorption wick when it met demand at previous range high confluent with the rising channel support and daily ichimoku cloud. I expect a rise to test the descending diagonal. A break above the diagonal will be bullish.
Daily obv about to turn upward. RSI at support.
BTC (Day chart) technical analysis update.
BTC currently trading at fib 0.5 level and price touched 100EMA, 100 MA will act as good support for BTC
Also, previous resistance (Higher high) acts as major support.
In the day chart, BTC formed ascending channel.
I’m expecting the price could bounce off from the current support level.
If the price drop below 53k ...
BTC / USDT
BTC reached the interesting reversal zone (53k-48k) and here’s why:
1-price is testing MA 100 in confluence with lower trend line of channel
2-0.618 Fibonacci level around 50k
3- G&F index now is extremely fear
Usually extremely fear mean bottom (or local bottom ) is near
In case bulls defend this level well ..next strong resistance will be...
Bitcoin is very close to its solid support areas.
There are two support levels, which can hold the price up in case of sudden crashes. There are two resistance areas on the way up, which we need to break before making any moves to form a bullish channel.
There are Sell Volumes in the market for Bitcoin, which shows that the price might go lower or consolidate...
BINANCE:BTCUSDT
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#BTC just dived to 52K's support after rejecting the 60K's breakout. Now It's moving above the 54K's level and the possible pivot line is standing on 29th November.
Now If we hold the...
Unfortunately breakout scenario failed and our most important level 58k was lost. If we can't reclaim it by the monthly close, i expect further down side and mark down of the distribution range to complete.
First strong support is below fib. 0.5(48.900) 47.500 / 47.600
Second and stronger support is at 43.160 weekly level between fib. 0.618 & 0.66 also near...
IF we would drop more then i believe the absolute bottom will be 52K and then we will go for newt ATH's
Then we have one more touch in the falling wedge pattern.
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(BTCUSDT 1W Chart) - Medium to Long-Term Perspective
28130.0-29300.0 or higher: Expected to continue upward trend
41950.0-46930.0 or more: Expected to...
On a 4-hour TF, The negative trend continues, but last night the volume of strong demand occurred in the range of $ 53,000, and the price rose sharply and drove the sellers of this range out of the market. Traders can enter if the negative trend breaks, for the targets of $ 60,000 and $ 63,000.
During the massive sell-off last Friday, I made an analysis on Bitcoin where I stated that the bottom was likely to be in and that a reversal was to be expected.
And indeed, Bitcoin saw a massive move to the upside yesterday. In my view, this massive move confirmed my idea...
Before we can expect a definitive breakout we need to be cautious for one more leg to the support / supply area. I noticed a very similar pattern in price action of BTC at the end of September and now. Check the fractal overlay from end of Sept over the current price action in the chart. Similar isn't it? It would make sense to get rid of the longs before a blast...
Price is locally supported by 52920 level and coming close to an established trendline. Also this situation is similar to previous one 41950 level. Major support area ranging between 29278-19798.68 levels.
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