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Bitcoinforecast

Weekly BTC-USD(20th December)Bears continue to dominate the crypto markets as well as the traditional equity markets due to the news flowing in about the Omnicon Virus outbreak in many parts of the world. The combined Crypto M.cap declined by more than 4% last week whereas BTC prices took a dip of 6.79% in the same period. At the time of writing, BTC is slightly trading below the level of $46,000. On the weekly TF, BTC formed a solid bearish candlestick which depicts negative sentiments in the market. The nearest support is presented by its 50-WEMA, placed at $44,800 as a strong recovery was witnessed from these levels. On the Daily TF, BTC is forming a descending channel kind of formation, depicting that market trend to be sideways to bearish. On the higher side, the immediate hurdle is present at $48,000 followed by $50,000 as its 200-DEMA is also present at this level, decisive closing above the $50K would be the first signal for the trend reversal. On the lower side, the support is present at $45,400 followed by $44,000. Momentum indicators like RSI are depicting flat sentiments as it is trading in a range from the last 3-4 days. BTC is most likely to trade in the range of $48,500 to $44,000 for the coming days, so we advise traders to wait for the market to break any major level before taking any new positions.
COINBASE:BTCUSD
by TradeDog-Research
SHORT BTC/USDTBINANCE:BTCUSDT SHORT BTC Short/Sell BTC CMP :48832 Target :39515 Stop Loss :53237 Signal: Negative Sentiment: Negative Crossover: Negative Timeframe: 5-7 days Probability: Medium Note: Some sideways movement expected before the fall. ABOUT MYSELF: I am a certified blockchain developer (PG Master's) from a top Canadian University. I have a bachelors in computer science (B.Tech) from a A grade university in India. I have developed a AI powered code that provides signals for capital markets. Accuracy till date: 72% DISCLAIMER: This is not an investment advice. Just for discussion/paper trading purposes. Need any specific coin? DM me on Tradingview.
Short
by sandhikar.saurabh
Weekly BTC-USD(22nd November)After making a new ATH of $69,000 in the previous week, BTC witnessed a massive profit booking last week which caused BTC to close ~15% lower from its ATH level. It formed a big bearish candlestick on the weekly TF with a more than a 10% decline to close the week at $58,671. At the time of writing, BTC is trading slightly above $57,200. As per the Elliott Wave formation, it seems BTC will be completing its 4th corrective wave in the coming days and further selling pressure can be witnessed. Currently, BTC is trading in a very crucial range of $56,000 to $59,000. On the lower side, the nearest support level is present at $55,500. However, if this level is broken, further downside swing is most likely to continue till the level of $53,000. On the higher side, a strong sell wall is present above $65,000 as none of the weekly candlesticks has been able to close above this level. However, BTC has decisively broken the support of $60,000 now and this will act as the immediate crucial resistance for the way up, if bulls manage to close above this level, then further upswing rally is most likely to continue till the previous ATH levels. As per the major TF’s, the overall trend is still strong and currently, BTC is just completing its Elliot Wave structure and also strong buying can be expected from the Fibonacci retracement level of 0.618 which is present in the range of $51,500 to $52,000, therefore, these corrections are a part of the cycle and provide traders with a new opportunity to go long.
COINBASE:BTCUSD
by TradeDog-Research
BITCOIN?! Is it a correction or a major selling???Hey everyone, Bitcoin is 6% down today from the daily high. It might be going for another higher low, which can be formed between 50 to 61.8% of the current wave (which is near 50.8k to 54.3k). The all time high is exact 69k and today's high is $63628 and today's low was $59907.73 . It might take support at the Fibonacci channel too, near 57 to 59k. Currently, there is less volume in the market. We might see a major move by Bitcoin soon, which might affect the altcoins. The effect can be both positive and negative. As of now, I'm bearish on BTC.
BITSTAMP:BTCUSD
by theTAguy