$BTC AnalysisBitcoin rose 2.3% when it finally reached the middle of my liquidity box. This deal occurred in the early hours of the morning, so I missed it even though I wanted to participate. What follows then? I'll wait for Bitcoin to either break my liquidity box, which would then indicate that $22300 would be the next target on the downside, or for BTC to break the resistance trend line, after which it would consolidate before starting its next leg up. Weekly closing is one more thing to keep an eye on; I'll provide an update on it tomorrow.
Not a financial advice
Trade at your own risk
BTC-D
$BTC attempts to break my liquidity box$BTC has previously made three attempts to break the liquidity box but was unsuccessful in doing so. A rally to 29k can start with a close above 25.2k. Normally, it takes 4-5 solid volume attempts to crack a box like this.
Not a financial advice
Trade at your own risk
BTC/USD - Weekly OverviewBTC had a positive crossover against the crucial psychological mark of $25K. The breakout suggested that there is significant positive momentum prevailing for the world’s largest digital asset.
The RSI level is also trading at a bullish level (62.00) with the potential to have a positive breakout to the overbought region. However, the MACD level is looking vulnerable to a bearish crossover.
Overall, the resistance levels for BTC can be placed at $25K and $27K. While, if the profit booking momentum kicks in, support levels can be placed at $23K and $21K.
Zilliqa- ZILWith shift in narratives so sudden, there seems to be a great development in the web3 gaming side of things. This could be a strong narrative when it manifests.
Projects like ZIL, trying to place themselves for that shows positive signs. ZIL has been around for a long time and has its pump sooner or later.
This chart is looking great. Signs of bottom are there and signs of accumulation with price support for weeks is assuring. Will be buying spot first, then plan longs when it finally starts to move.
NFA, good luck.
BTC/USD - Weekly OverviewBitcoin started to shed its positive returns at the start of the second month of 2023. As observed in the chart, the BTC price level is currently trading at a critical level of 1.0 FIB level upon which a negative breakout could result in further price damage.
MA-10 also suffered a negative crossover against MA-50 in the past week. The downside expansion in the width of Bollinger Bands suggests that the world’s largest digital currency faces considerable selling pressure.
The RSI level is also showcasing a falling channel pattern after sustaining in the overbought region for about a month. However, it is currently vulnerable to a negative breakdown to the oversold region
The MACD level has also broken below the histogram while forming red bars.
Overall, the support levels can be placed around $21K and $20K. On the other hand, resistance levels can be placed at $23K and $25K.
Btc analysis on its 4 hour TF with supp & resisBTC analysis on its 4-hour time frame with support and resistance levels. As you can see, it takes support from the Fibonacci ratio of 0.382. Now it's time to observe a pullback towards its support line, and you can clearly see the 0.5 Fib level also near its support level of 22,200.
It is also important to keep an eye on the divergence indicator and the Stochastic RSI, as they both show the oversold data.
The 50-day moving average (50 MA) is also crucial as it has acted as support in the past, but now it has rejected the price and is acting as resistance.
BTCUSD Possible LongWyckoff Accumulation Schematics 2 in process
Let me be clear that Bitcoin is traded in 3 major exchanges and other minor exchanges over 100.. So volumes might be a little different in this pattern though they are close to the schematic rules
Do not take or enter a trade untill the pattern is broken like shown in the Chart
If the Accumulation pattern fails then follow the price action pattern for short entry..
BTC/USD - Weekly OverviewBitcoin continued its positive momentum in the past week as the YTD gain reached approximately 40%.
On the Fibonacci retracement table, BTC price level had entered the resistance zone which is above 0.786 FIB level.
Considering the technical indicators, Bollinger bands has contracted its width which suggests a potential consolidation or profit-booking momentum. The MACD level has also started to form red bars on the histogram while the levels look vulnerable for a negative crossover.
Overall, if the bulls are able to sustain the ongoing positive momentum, BTC will test the resistance present at $25K and $27K. However, if we witness a considerable profit booking momentum, support levels can be placed at $22K and $20K.