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BTCUSD(Weekly Analysis)The world’s largest cryptocurrency has maintained its positive momentum and accumulated approximately 36% returns in January. BTC has been in a Bear trap, it had hit its low of $15.5K and took support at the resistance trendline as shown in the chart. After consolidating there for 2 months, BTC shot up to the level of $24K and is currently retracing and trading at $22.9K. The support to the lower side is present at $22K and $21K while it may face resistance at $24K and $25K respectively.
COINBASE:BTCUSD
by TradeDog-Research
1
Green or Red February for Bitcoin?After a massive bear run, BTC holders saw an almost 40% gain in Bitcoin price in Jan 2023 pushing the fear and greed metric into the “ Greed ” zone. After a strong rally in January, what is next for Bitcoin? In the last 8 years, we have seen a green February for Bitcoin except in Feb 2020. Thus, we expect 2023 February to be a green February for Bitcoin. Price is above its 20 and 50 EMA on a daily timeframe and is currently hovering near its support at 22800 with the next resistance at 25100. If the price breaks this support, the next support can be found at 20-EMA. On a daily chart, there is a formation of RSI divergence which is a bearish signal although, we need to keep an eye on other metrics too. On a 2- hour timeframe, price has fallen below 20 EMA which is also acting as resistance and 50 EMA acting as support. Moving Average Convergence Divergence (MACD) line has crossed the signal line indicating possible price correction.
by teakfinance
1
BTC INTRADAY SETUP - 08 OCT, 2022#BTC INTRADAY UPDATE VOLATILITY EXPECTED: Medium EXPECTED SCENARIO: $BTC is again bearish on Intraday. Expecting it to consolidate today. BULL CASE: In case we cross INTRADAY FLIP LINE(19600$), only R1(19750$) else R2(20000$), will be tested. BEAR CASE: In case we stay below INTRDAY FLIP LINE, S1(19300$) else S2(19050$) is the support and hold today. NOTE: On higher Timeframe, BTC is failing to even go to 21500$ zone. Let's see if 19000$ holds. On downside, 18K support should not break else a dump to 14K$ may happen..
by CryptopreneurSK
Bitcoin consolidating in a box pattern.Bitcoin on the weekly time frame has given a bearish moving averages cross over and has been consolidating in the previous weeks range. The market is consolidating in a Box pattern. The market are in a bearish trend as Dow has broken its 29000 level after taking resistance from its weekly 20 ema and closed below its 200 ema. Global markets are negative and the crypto markets follow the similar trajectory of the US market. Coin, on the daily time frame, is taking a serious rejection and is constantly falling after getting rejected form the 20 DMA. It has been consolidating in a narrow range of 1.5-2% for three days. It has given fake outs on both side but couldn't sustain above/below the levels. On the hourly time frame, it is trading between 20 and 200 ema. Support :- 19290, 18870, 18600 Resistance :- 19630, 20000, 20330. The price range from 19290 to 19630 is a no trading zone. A swing or intraday trade can be initiated if the price sustain above the levels on the 60 minutes chart. Wait for the price action near the price levels before entering the markets.
BITSTAMP:BTCUSD
by Mambotrade