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URGENT BITCOIN UPDATE BEFORE BIG MOVEHello masters, hope you having a good day in this profit season. Even if you are not making then don't be upset, opportunities will come and go. Here is the update regarding BTC price, price at major resistance right now and it trying hard to break this current zone to make new all-time-high. If this trend continue maybe we will see BTC at higher price soon. Quick short note to understand price movement better....... - Price is above triangle and if recent dump was just a retest of breakout level and to cool down Funding Rate(important factor), WELL in that case price is ready to shoot and can pump massively. but wait a second...always be prepare for opposite direction also and make your disicion accordingly and make sure you always place stop-loss. This is my first idea hope you like it, if yes then please do like and follow :)
BITSTAMP:BTCUSDLong
by meshbtc
BITCOIN triangle breakout was expected 64k will be next targetBITCOIN The recent bullish trend has given a strong confidence in crypto investment. Bitcoin has managed to break the 60k level and felled back again below 60k level Currently it was trading below the 59k level.At this level we can see a consolidation phase for the past 3 days soon we can expect a breakout here. I have identified one triangle formation here which is a clear sign of upcoming breakout on either side.On downside 50% Fibonacci will hold BTC in remain in Bullish territory while writing this analysis the price is just above the 61.8% Fibonacci level this will also provide support for bullish trend. The 50,100,200 Exponential moving averages was acting as support for bull.Ichimoku cloud is still green and proving cloud support.Bollinger band was slowly constricting a but which is a sign of either side breakout. RSI is well above 50 level,MACD is still green and the band was minor only. Stochastic has reached around 75(short term fall was expected) Trend line drawn from 11/03/2021 will act as dynamic support and resistance for both the bull and bear. 54K was acted as clear support for bull twice. We can buy while retracing towards 50.00% Fibonacci if we missed this chance we can also buy after clear break and retest. The possible upper side target was 64k. Trade call Buy @ 57500.00 Take profit @ 64000.00 Stop lose @ 57750.00
BITSTAMP:BTCUSDLong
by forexorbit
Bitcoin 4hr analysis 1-10-2021Good morning again ladies and gentlemen and welcome back to my daily analysis of Bitcoin. Today I have the 4hr time frame pulled up after losing a bit of ground over night. No sweat though. We are still sitting at 39k currently and that is something to be proud of. Its well into the new year and we are still clinging to the gains we have seen over the past few weeks. But is a dip around the corner? Lets take a look at the chart. This morning I see we dropped to around 38500 before recovering to just below 40k where we are currently sitting. That shows the bears arent strong enough quite yet to take us down. Of course the constant pressure applied by the bears will eventually take its toll Im afraid, I still think its okay to be long as long as you set a stop loss. This is shaky ground and anything can happen. Prepare for the worst. Im not clairvoyant therefore I cant tell you for sure the direction we are heading next. What I can suggest is to employ risk management and even if you are wrong you wont pay for it too much. I see the bollinger bands on the 4hr time frame have had a chance to tighten up. This could point to increased volatility on the horizon. We lost the support of the trend I mentioned yesterday. I left the trend on the chart so you could see that we did in fact break out of the trend. Now that the trend is no more we are back to square one. I will be paying attention to the chart over the next day or 2 for sure to see if I can identify another trend early enough to trade for decent profit. Identifying trends early is a key to trading the trend. As we lose a little ground this weekend I am reminded of the gap from last weekend. We climbed 3k+ over the weekend and when Monday rolled around bam. Less than 12 hours into the day and we dropped to fill that gap. If you were trading that you could have paid off a car if you made the right trades. Something to think about. I bring this up due to this being the weekend. We may have a gap just like last weekend. But this one should be above us unless the bulls take off today. When you drop over the weekend you create a bullish gap. When the price climbs over the weekend its the opposite. So Im interested to see how the weekly close looks in less than 12 hours from now. Just remember that not all gaps are created equal. Just because a gap is on the chart doesnt necessarily mean we fill it like we did last week. I like to trade gaps but I have been burnt. Though its very rare. I am pretty successful playing gaps for the most part because they are predictable to a degree and traders need to take advantage of any edge they have in this market. 39800 is sort of the line in the sand at the moment. I see some support at this level but it seems fleeting. If we do lose it we can expect a drop to at least 37700 and that is being conservative. The weekend is typically boring in terms of price movement (except the past 3 weekends). This weekend is more of what Im used to. Consolidation. I do like that there could be a gap above us Monday. That could start the week of on a bullish note. Only time wil tell for sure. I hope you all have a great day folks. Make good choices! And always remember WTFDIK??? TLDR: Clinging to 40k. I see support around 37700 if we lose current support. A gap will likely form above the candles if the weekend proceeds as it is now. (bullish gap) If you plan to trade the gap set a stop loss. Nothing is certain except uncertainty.
by UnknownUnicorn4304403
Bitcoin 1 week outlook 12-29-2020Good morning again ladies and gentlemen and welcome back to my daily look into the best investment since Enron!!! Bitcoin! LOL. But seriously I saw a gold PS5 online this a.m. and Im pretty sure someone reading this bought the gold PS5 (nearly 1 million USD) with your profit. Just step up and admit it. As we all browse Lambos online I am curious to see if we can keep our heads out of the trenches at least til the 2nd of January. 4th of January would be even better as that is the real beginning of the year thanks to everyone taking new years off and new years day as well. So lets take a look at the charts this morning. I decided to take a zoomed out look at the charts. Its nice to do this occasionally even if it doesnt really give you the best info as far as short term pricing we can still walk away with plenty from this weekly chart. Look at the current pump. Its parabolic. Do I love seeing a straight up bull push to the heavens? Oh hell ya! But am I dumb enough to play with fire at these levels? Not so much. Even if we were to break 30k RSI on the weekly time frame is higher than its ever been on a Binance chart. The last time we got to 90+ on the weekly RSI we ultimately saw a 50% drop or even more if you look a bit further down the chart. 2017 was a different rodeo back then. It was my first jump into investing and I caught the pump around 8500 all the way to 20k. We lost a lot of ground really fast. Within weeks people were saying BTC is dead and it was all over. Alts were significantly stronger and the dominance alts held was much higher. Now Bitcoin is ruling the roost as far as dominance. At nearly 70% Bitcoin is remarkably higher than It was in 2018. In fact we dropped to 1/2 where we are now. 35%. Which meant alts controlled 65% of the market as a whole early on in 2018. But as time progressed dominance returned to Bitcoin and now we are back at 70%. Just like we were last ATH back in 2017. I know people are watching for alts to jump and keeping an eye on dominance is a key to this equation if you ask me. This break out was largely fueled by a huge dip back in March where we had some huge buys and volume spiked. People like to buy that dip and that started out trek up the charts. From 3800 we made it to a 2.5 year trend line. After being rejected from it 3 times over the last 2.5 years we finally burst through it at around 10k. Breaking this resistance was key to the bull run. Once we broke it the evidence is clear on the charts. We went parabolic pretty soon after that. I didnt even mention the halving that happened in May of this year. Also another reason for the bullish chart action. It takes months before a halving pump shows its face and this is the 3rd real time that we have seen this happen. I think its safe to say the halvings are pretty reliable. As long as you are patient. Not to mention institutional buyers are getting into the mix. Paypal offering Bitcoin has been a huge deal for the cryptocurrency. We are seeing the results of the perfect storm and after 3 years of getting nowhere near 20k we beat it with relative ease this bulls run. If we do start losing ground the 4hr 50 MA is my first line in the sand. Its been reliable as support over the course of this run only failing a few times . We are currently sitting above the support so until that changes I will remain optimistic. I still dont have the guts to bet against the bulls. But I must remind you there is a big nearly 2000 dollar gap below us. Losing 2k would still leave us above 24k but when people see a drop like that it could trigger a domino knee jerk reaction where fomo is reversed and people wanna sell before they lose all their profit. That is what a stop loss is for folks. Thats why I recommend it. Even if its at 15k. Ive seen Bitcoin lose 50% in hours. Im not saying that it is certainly bound to happen this go round but I wouldnt ignore history. What goes up normally comes down. Stimulus was approved so lets see how Bitcoin takes the news. Right now its 600 USD per citizen (US) but they are fighting for much more. With that in mind I imagine many o USD will be printed or simply created out of thin air. This could fuel Bitcoins rise as inflation of the underlying base currency Bitcoin is naturally compared against makes Bitcoin more valuable as a rule vs the USD which has not 21 million coin limit Im afraid. That is the reason they took us off the gold standard after all. It makes it easier to inflate that USD. Bitcoin has a super bright future. 500 billion dollar market cap. Nothing to shake a stick at folks. I hope you all have a great day and I hope a look at the weekly makes you as proud as I am for sticking it out throughout all those bear months. Make good choices and always remember... WTFDIK?? TLDR: Year is almost over. Bulls are still in charge but Im watching for the bears. I can smell em.
by UnknownUnicorn4304403