BitcoinHello and welcome to this analysis on BTCUSD
In Jan 2022 it completed what appeared to be a sideways correction and activated a Bullish Harmonic Reciprocal AB=CD @ 33000.
From there it went on to give a 38% retracement till 48000 by the end Mar 2022.
The current decline is now testing the reversal zone of 33000. The next support below this is the crucial one near 28500.
Failure to hold that short-term rising trendline which has so far been making HIGHER LOWS could see a further plunge till 15000 & a possible 11500 where the long term monthly trendline is and a zone it had done a long period of consolidation from JUN-SEPT 2020.
Resistance is at 37000 for now
Btcusdforecast
💎 BTCUSDT: Correction is OVER, Time to Rise up Again Hello Traders,
as u can see btc is trading in rising channel, lower trendline has given strong support. i m expecting btc will rise frm here towards 50k mark. before tht btc must sustain above trendline for 1-2 days.
in worst case if starts dumping below trendline then it will be really disastrous situation ...wait for confirmation on daily timeframe.
💎 BTCUSDT: Ready For Next Legup Towards 50k💣💣💣💣Hello Traders,
as u can see btc successfully made healthy correction towards 0.5% fib ratio area which is 48800$. looks like a retracement has been done of recent rally. btc must go up frm here if there is further drop possibility then it will test 0.618 fib ratio which is at 41587$. after daily strong confirmation we can build long position frm here and target is 50k.
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BTCUSDT Next movesAll lines will tell you about The BTC moves.
Price action is very powerful, So if any line crosses then the target will be the next line.
BTC always has more volatility so Shorts or Longs should have SL.
Note: I'm not a financial advisor. This analysis is for an Idea and a view. Crypto is the biggest profitable trading business, and without stop loss and emotional control, no one cannot win in this game.
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Bitcoin Top to Bottom Analysis
Monthly chart: indicates that there has been a divergence in MACD and we can see the double top formation that was a wholistic overview, but the last three candles indicate that if the price broke below 32917 and closed below this it will complete as an inside bar which is bearish and on the downside
based on the Weekly chart 28850 is the support, whereas if the price can break out from 47900 and closed above it will start the next upside up to 64850
on the Daily chart there is no momentum and we can see clear consolidation the price making choppy moves not respecting the 50ema band
My Take: let's wait for the breakout
because there has been uncertainty in the market with UKR & RUSS war
and rumor of Russia to adopt bitcoin or the money flow might increase from the Russian side in BTC
instead taking bias better to follow the chart analysis and trade according to levels
💎 BTC Unable to Cross Major Resistance Trendline.On daily timeframe btc again testing major resistance trendline. Previously we can see whenever btc tested this trendline we seen huge pullback.
if btc starts dumping frm here then easily we can see btc testing again 30-32k zone.
BTC will be bullish only after trendline breakout with huge volume.