BTC-M
BTC/USD - Weekly OverviewAs the global economic conditions turned bearish during the past week, Bitcoin seemed to struggle between the price level of $18K to $19.K. However, the crucial support level of $18K remained intact. The current price level is hovering around $19K and might look to retest the resistance present at $20K
In a short timeframe, the price level needs to have a positive crossover above MA-50 which can help to regain bullish momentum. Looking at the technical indicators, the RSI level is looking to cross above 50 which might prevail in positive sentiment for the world’s largest cryptocurrency. MACD level is still struggling below the histogram but has started to form green bars
Overall, the price level has avoided significant price dumps by having strong sustainability above the crucial support level of $18K. If broken below, the next support level will be $17K. BTC might also test the psychological mark of $20K on the upside and if had a positive crossover, the next resistance level can be placed at $22K
BTC CHART After breakdown from the head and shoulder pattern on daily chart bitcoin got the breakdown started and settled at 20k level but we are the time where we are ready to step more down to 8-9k level in the short term 9k is the demand zone i hope the 9k zone will start a new bull wave towards the sky but for now be ready to move down to 9k once we break below 17k level we can see a free fall to 9k level .I HOPE THE BEST.
NEW BTC BEARISH FORECASTBTC has been trading lower within the falling resistance boundary from 10th of November 2021 till date.
I expect more down on BTC with the below reasons however FED's decision may change the game anytime, this is why we suggest trading with care, strong confirmations, and minimising risks.
Bearish descending triangle, descending resistance weekly and daily, testing major horizontal support since July, head and shoulders pattern, FED hawkish expectations 21st September.
What to do now?🤔
Wait for the candle closure below the neckline boundary, then our target will be 12k straight.
If you're still willing to buy BTC😄
Wait for the break above falling resistance, after retest then you go long for the target of 22653(previous shoulder), the shoulder is our current residence D1 and if the 22653 didn't hold lower your next target 25194 (unlikely).
$BTC Daily Update$BTC Broke $19,327 support dropping towards $18,746-$18,529 support area. Bearish engulfing on daily close with current daily candle looking to follow up. Friday's Bullish pin on 1D gave it a good push to test $20,338 but failed to break out of given moving range. 1W close with bearish engulfing, $17,592 support at risk! #Bitcoin
PNB ANALYSIS 19.09.2022BUY : 39 TO 25
TARGET : 140 TO 156
Reason For Selling This Script :
In this script the price is falling in down trend channel. Now the price is in side way moment once price close above 47 in monthly time frame and the target level given above.
Technical Analysis Used :
Monthly time frame analysis
Down trend channel analysis
Note :
Above given levels are based on monthly & weekly time frame . So be patience it will take some months to achieve the target.
ALL THE BEST ..