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Bitcoin (Cryptocurrency)

BTCUSDT Eyes Resistance at 70K: Short-Term Pullback ExpectedThis chart is of the BTCUSDT (Bitcoin/Tether) pair on the 1D (daily) time frame, showing that Bitcoin is in a strong uptrend within an ascending price channel. Brief Analysis: Uptrend in price channel: Bitcoin is currently trading within an ascending price channel with higher highs and higher lows. The price remains above the lower trendline of this channel. Resistance around 70,000 USDT: A strong resistance zone near 70,000 USDT could challenge further price increases. It is likely that the price will face selling pressure at this level. Correction scenario: The chart suggests a possible short-term correction after reaching the resistance zone, potentially dropping to the 66,000 - 67,000 USDT area before resuming the uptrend. Moving Averages (MA): The moving averages show a positive signal, as the price has crossed above them, adding momentum to the bullish trend. This supports the longer-term upward movement. Strong support: The key support level for this uptrend is in the 63,000 - 64,000 USDT range, where the moving averages converge. Overall, the uptrend remains intact within the channel, but a short-term pullback is possible before breaking through the major resistance levels for further gains.
by Suyouu
Actual Success Rates of Ascending and Descending TrianglesActual Success Rates of Ascending and Descending Triangles Here is an analysis of the actual success rates of ascending and descending triangles in trading, based on the information provided: Success Rates Ascending and descending triangles generally have fairly high success rates as continuation patterns: -The ascending triangle has a success rate of approximately 72.77%. -The descending triangle has a slightly higher success rate of 72.93%. These numbers come from a study that tested over 200,000 price patterns over a 10-year period. Factors Influencing Success Several factors can influence the success rate of these patterns: -The trader's ability to execute the strategy correctly -Market conditions at the time the triangle formed -Market liquidity -Overall market sentiment Important Points to Consider -Triangles are considered reliable continuation patterns, especially in trending markets. -The ascending triangle in an uptrend is statistically more reliable than the descending triangle. -To validate the pattern, the price must touch at least twice each of the upper and lower lines. -An increase in volume during the breakout is an important confirmation sign. Strategies to improve the chances of success -Wait for the triangle to fully form before entering a position1. -Confirm the breakout with a close above/below the resistance/support level. -Use additional technical indicators to confirm the signal. -Pay attention to the volume, which should increase during the breakout. Conclusion Although ascending and descending triangles have relatively high success rates, it is important to use them in conjunction with other technical analysis tools and to take into account the overall market context to maximize the chances of success.
COINBASE:BTCUSDEducation
by Le-Loup-de-Zurich
3
BTCUSD Key Resistance Zone: The chart highlights a strong resistance around 62,811 - 62,838 USDT, where price is expected to struggle to break higher. This area is a potential zone to look for sell setups if price retests it. Support Zone: The green highlighted area around 60,000 USDT acts as a crucial support zone. The price is consolidating within this area, and the next move depends on whether it breaks below or holds above this support. Bearish Scenario: If the price breaks below the support zone (around 60,000 USDT), the next target would be around 53,924 - 53,821 USDT (marked in red), a lower support area. Bullish Retest: In case the price moves up and retests the resistance at 62,838 USDT, this could provide an opportunity for a sell-off, anticipating a reversal back down towards the lower support. This chart shows a neutral consolidation with potential for either a breakout to the downside or a bearish retest of resistance.
BITSTAMP:BTCUSD
by Suyouu
Sell Strategy for BTCUSDT Based on the Provided ChartKey Resistance Zone: The chart indicates a strong resistance area around 63,657 - 63,679 USDT. This is where the price has previously failed to break higher and has shown signs of a reversal, making it a prime area to consider selling. Confluence Zone: There is a notable confluence zone marked between 61,776 - 61,929 USDT. This area is significant because it aligns with various technical factors. The price is likely to retest this zone before continuing the downward trend. A rejection candle (such as a pin bar or bearish engulfing pattern) in this area would be a strong confirmation to enter a sell trade. Entry Strategy: Wait for the price to return to the confluence zone (highlighted by the red arrow and circle on the chart). Once the price reaches this area, enter a sell position when there is a clear rejection signal, such as a bearish candle formation indicating price reversal. Take Profit Target: The ideal take profit zone is around 57,876 - 57,898 USDT, which is marked as a strong support area on the chart. If the downward momentum continues, this is a likely target for the price to hit. Stop Loss Placement: Place your stop loss above the resistance area, around 63,679 USDT. This will protect your position in case the price breaks above the resistance and shifts towards an upward trend. Summary of the Strategy: Entry: Around 61,776 - 61,929 USDT, upon observing a bearish price rejection. Take Profit: Target 57,876 - 57,898 USDT. Stop Loss: Set above 63,679 USDT to minimize risk. This strategy is based on the confluence of key technical levels, resistance, and support areas shown on the 4-hour chart. It focuses on waiting for a clear rejection signal before entering a sell trade.
Short
by Suyouu
BTCUSDT: The downtrend is aiming. Based on the chart analysis provided, it is recommended to approach the market with a bearish trading strategy for the BTC/USDT pair. The chart outlines key resistance and support levels, which suggest a downward price action if certain conditions are met. Detailed Trading Plan: Current Market Condition: The price of Bitcoin is trading below two key EMA lines, which signals a potential continuation of the bearish trend. The price has attempted to break through the resistance level near $62,700, but multiple rejections (indicated by red arrows) suggest that sellers are in control. Trade Setup: Sell Entry: Consider entering a short position if the price retests the resistance zone around $62,700 and shows rejection (bearish candlestick patterns or wicks). This is confirmed by the yellow circle on the chart, indicating potential price reversal. Target Levels: The immediate support level is identified near $62,000 (green zone). However, if this level is broken, the next target would be the $61,238 zone, marked by the dotted black line. This level represents a potential deeper correction. Stop Loss: Place a stop loss slightly above the resistance zone, around $62,800, to protect against potential upside breakouts.
Short
by Suyouu