Btc!
Btc analysis on its daily TF with supp & resisAre you looking for a reliable way to trade Bitcoin? Our solution is the perfect fit for you. Our analysis of Bitcoin price movements and Fibonacci retracements gives you an accurate picture of the current market, allowing you to make informed trading decisions. Our up-to-date analysis is updated daily, giving you all the information necessary to make a profitable trade. With our help, you can be sure that your investments are in safe hands!
BTC/USD - Weekly OverviewBitcoin started 2023 on a positive note as the price level formed a rising channel pattern on the chart. Considering moving averages, MA-10 is trading above both MA-20 and MA-50, which is again a positive sign for the world’s largest cryptocurrency.
The RSI level is also showcasing an extremely positive nature with a breakout to the overbought region. At the same time, this may also suggest that we can witness a profit-booking momentum for BTC in the near term with the level exhausted at 77.91.
Overall, BTC is yet to break above the crucial resistance levels of $18K and $20K, respectively. In case of a turn of events, it can have support at $16K and $15K, respectively.
BTC/USD - Quarterly Overview (Q4'22)The last quarter of 2022 turned out to be the most damaging one for the world’s largest cryptocurrency. As the price level was able to maintain sustainability above the crucial support level of $18K, the collapse of the centralized exchange, FTX, resulted in a bloodbath in the overall market conditions. Thereafter, BTC suffered a new 52-week low of approximately $15.5K. Since then, the price level did not climb above the psychological mark of $20K ever again. Due to the downside, the price level of $18K has become a major hurdle for Bitcoin to break above. It did test the resistance mark during December but was unable to break above.
Considering the current momentum, since the start of 2023, Bitcoin is forming a potential rising channel pattern that could retest the resistance present at the 0.382 FIB level. Until then, we can expect the world’s largest digital asset to move in a consolidating nature. Otherwise, a breakout above $18K can be a potential signal for bullish momentum in the near term. The support levels for BTC can be placed around $16K and $15K, whereas, the resistance levels can be placed at $18K and $20K, respectively.
gold analysis after bouncing from weekly support gold is ready to give good move from coming out of this channel
matic trade ideamatic is in range bounce since many days and is trying to hold weekly support can be bought here if it breaks this range
Nifty Buying at Demand areaAggressive entry model because we will enter without confirmation.
pros: Small Stop loss and High reward
Cons: Does not need to respect the demand area and it may break it
Managing the trade:
If the trade goes in our way
*Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating.
BTC ANALYSIS#BTC UPDATE.
#BTC has currently trading at the red box resistance after a perfect bounce back from the yellow box support area.Since btc has the resistance level and we have bearish RSI on 4H TF ,therefore be careful with your trades as there could be rejection from the current resistance is possible until btc closes above the red box resistance area .
BTC/USD - Weekly OverviewThe new year started off quite well for the world’s largest cryptocurrency as BTC was up by 1.30% in the past 24 hours. The price level had developed a temporary support zone around $16.5K through which it is looking at the potential to test the resistance zone above the 0.236 FIB level.
It must be noted that BTC has not been able to break above the 0.236 FIB level and maintain sustainability thereafter. A breakout could be a significant indicator that Bitcoin can commence the year with significant bullish momentum.
Supporting the hypothesis are RSI and MACD levels. The RSI level is showcasing positive nature on the chart while standing at 53.74. The MACD level also had a bullish crossover below the histogram with a green bar formation. If the levels are able to climb above the histogram, we could witness a significant positive momentum for Bitcoin.
Overall, the resistance levels can be placed at $17K and $18K, respectively. The support for BTC can be placed at $16K and $15K, respectively.