Bitcoin (Cryptocurrency)
Bitcoin (BTC/USDT) Short Position!Hello Cryptonauts,
In the BTC/USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag. Using the flagpole size we can target our short position at ~18541.
The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn't break down.
Our stop-loss will be at ~20115 above the pivot level (~20038).
BITCOIN NEW RANGEBTC seems trading in very narrow range since last few days so that I am able to identified resistance and support on daily chart it can help out to decide the direction of trade we can take in it, so if buy resistance we can go for long and if will break support so we can go for short this is simply based on price action and demand and supply zones easy understood chart.
Near price analysis for septemberHello! hope you all are doing fine. I have tried to do a short analysis and a small price prediction for the september month. So, history says september is a bearish month and following the history and the current fuds in the market Even i would say the same. Soo i have made to 2 scenarios one is bearish and the other is extreme bearish. Ofcourse, both of them are sad and depression, but they also become a good buying opportunity for us as a investors.
One of it is around 3 and the other one is around 2, The second option is a more safer and a stronger option as it is the point of start of the previous bull run. Soo thats it for now ofc you can refer my chart it has a more detailed analysis.
And my prediction for end of the month is around 3.4$
BTC/USD - Weekly OverviewThe month started with bearish sentiment and still prevailing as the world’s largest cryptocurrency is unable to maintain sustainability above the crucial psychological mark of $20K.
Since the past month, the price level had a negative breakout from the rising channel pattern and currently possibly forming a falling wedge. Furthermore, it should be noted that BTC is struggling at the lowest level of Fibnonnaci retracement table.
Technical indicators including RSI are also replicating similar sentiment as it had failed to break above 50 since mid of the past month.
During the previous week, MA-50 faced a sharp negative breakout against MA-100 which suggests that further correction can occur.
Overall, Bitcoin needs to sustain crucial support levels including $19K and $17K. If there’s a quick of sentiment in the market conditions, resistance levels can be placed at $21K and $23K.
BITCOIN facing supply, inverted flag, 13500 target??If bitcoin breaks the crucial level of 19000 yet again there isn't much hope left for it. Next stataion would 13500. The other less likely scenario is that it takes support right here and this inverted flag converts into a first leg of W pattern, in that case I would be proven wrong & upside continuation can carry on
Bullish for one month from this weekend - 19100 to three greensThe lower C positioning and a small bottom peak formation will be seen soon and gets bullish. Looking forward with the 1 to 2 month upside waves with three green lines on possible target. If Bitcoin is going on bottom to 4 digit then its gonna check the nearby resistance that will be last time decline spots by 34000 - where it brings the upside refreshment for traders and go down to 4 digit value. Sell later at the resistance, not now.
btc inverse head and shoulders so yesterday morning i marked this symetrical triangle out traded a long as it was forming the head (which i didnt know at that time) knowing that this triangle would break to the up well have a better chance to break to the up rather then the down woke up this morning its smashed through the triangle giving a 3% gain/rise retraced back down to make a hl and use the traingle upper level as support at the same time made an inverse head and shoulders so if we play out the way that these patterns normally play a long would be good to around the 21200k mark
thanks guys scopes
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BTCUSD Trading Plan - 29/Aug/2022Hello Traders,
Hope you all are doing good!!
I expect BTCUSD to go Up after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea