Get started

Bitcoin-btcusd

Bitcoin Descending Triangle PatternA descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. Oftentimes, traders watch for a move below the lower support trend line because it suggests that the downward momentum is building and a breakdown is imminent. Once the breakdown occurs, traders enter into short positions and aggressively help push the price of the asset even lower. KEY TAKEAWAYS A descending triangle is a signal for traders to take a short position to accelerate a breakdown. A descending triangle is detectable by drawing trend lines for the highs and lows on a chart. A descending triangle is the counterpart of an ascending triangle, which is another trend line-based chart pattern used by technical analysts.
Short
by prajwalasp
1
BTCUSD: Weekend Update1/ Bitcoin price has perfectly bounced off the demand zone ($28,796 to $31,037) 2/ Investors can expect this rally to sweep above the local top at $35,500. 3/ Possibility of BTC hitting 62% Fib at $36,569 or 70.5% Fib at $37,632 should not be ruled out. 4/ An opportunity to position for a short trade might arise at the two levels mentioned above. As always, none of this is financial advice and should be construed as one. DYOR Not Financial Advice (FA)
FTX:BTCPERPLong
by DailySats
BTCUSD: ALL ABOARD THE GREEN TRAIN TO $42,0001/ Bitcoin price is failing to hold up. 2/ As a result, the recent rally is getting undone. 3/ Expecting a bounce from the demand zone ($34,592 to $35,744) 4/ Or in some cases a double bottom at $34,750, which is the confluence of the demand zone and the buy zone ($33,156 to $34,915). 5/ The first target would be the range high at $41,322; then BTC might target the 200-DMA at $42,861. 6/ Expecting a wick up to $45,400 if we are lucky. As always, none of this is financial advice and should be construed as one. DYOR Not Financial Advice (FA)
FTX:BTCPERPLong
by DailySats
Weekly Analysis of BTC-USD(22nd June)Bears continue to dominate the crypto markets as almost all the major crypto assets fell by more than 7% in the last week. BTC formed a weekly bearish candlestick pattern with ~ 9% decline, also, BTC witnessed is its 6th consecutive week of institutional outflows. However, it is still holding the $30-$31K support zone and at the time of writing, BTC is trading slightly above $32.5K. BTC also witnessed a ‘Death Cross” on the Daily TF and when this happens in the last bull rally of 2018, BTC further dipped more than 25%. On the downside, the nearest support zone is placed at $30K-$31K, if it decisively closes above the $30K, a further downswing rally is most likely to continue till the next support at $28K, followed by the next significant support at $25K. On the positive side, BTC is still holding its $30K support for the last 4 weeks, and also, it is making higher highs from the last three times. The immediate hurdle is present at $33.5K, once it breaks this level, the net potential resistance is at $36K, followed by the next level at $38.5K. Weekly MACD is also entering into negative territory whereas Daily MACD is also giving a bearish crossover, both indicating bearish sentiments to prevail in the coming sessions. However, the breakdown below $30K will act as a confirmation for the further bearish movement.
COINBASE:BTCUSD
by TradeDog-Research
Weekly Analysis of BTC-USDBTC witnessed a volatile last week, from its low of $31K to close the week above $39.3K. On the weekly TF, it gained by ~9% and formed a Hammer candlestick pattern which depicts reversal is on the cards, mainly backed by positive news from El Salvador which have adopted BTC as a legal currency. At the time of writing, BTC is trading slightly above $40K. Bitcoin after dropping by ~50% from its All-Time High has found its support in the range $34K- $30K, this range earlier also acted as a strong support base during its journey to ATH. The nearest support is now placed at $36.9K, the next support is presented by its 50-WEMA which is placed at $33.9K. On the higher side, the immediate hurdle is placed at $41K, once we get decisive closing above this level, the next significant level to watch out for is present at $43K, followed by $48K. On the Daily Time Frame, Bitcoin for the past 26 days has been consolidating in a narrow range of $34K- $40K. On June 14, BTC gave a close above $40K and is currently sustaining above that level, which depicts that buying momentum can continue in the coming sessions.
COINBASE:BTCUSD
by TradeDog-Research
important bitcoin update bitcoin chart is forming bilateral symmetrical triangle Symmetrical triangle can either be bullish or bearish, Symmetrical triangles form when the price converges with a series of lower peaks and higher troughs but if we look BTC daily and 4hr chart, then overall trend is bearish So there is more probability that bilateral symmetrical triangle can break down. And once it breaks down, then bears become more aggressive and price can drop quickly and resume downtrend. short seller can open short positions if the price breaks down the triangle and wait to retesting trend line This is my personal view about bitcoin price . Take it as educational purpose.
by sunnystar665