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BTCUSDT

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.
COINBASE:BTCUSD
by TradeDog-Research
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.
Short
by TradeDog-Research
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.
by nawaab001
What's next in bitcoin after rallying for more than 40% BTC started it's upside from red wave C 1.236 projection level then started impulse movement although wave 1 was a leading diagonal triangle that's why I got the confirmation for wave 3 targets after wave 1st internal 5th crossed by straight move including multiple green candles rather than one or two big green candles. As we can see wave 3 extended to 2nd target 2.618 with 5 sub waves so we can expect a retracement to 21k-22k in wave 4 (between 0.236-0.382 retracement levels) and then we will move in final 5th wave to the upside.
Short
by leichtsinnig8868
2
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.
COINBASE:BTCUSDShort
by TradeDog-Research
BTC/USD - Weekly OverviewThe world’s largest cryptocurrency has maintained its positive momentum since the start of the year and generated approximately 36.83% YTD returns. On the chart, two areas are marked representing the resistance zone and sustainability zone, respectively. The current price action of BTC suggests that it will be targeting a positive breakout above the resistance zone placed above the 0.786 FIB level. However, the bullish engulfing candle which led to the breakout above 0.618 FIB level suggests that Bitcoin needs to spend some time in the sustainability region to formulate potential support zones. Having another bullish momentum on the current build-up might lead to volatile profit booking momentum which might deteriorate previously gained returns. The technical indicators including MACD and RSI are sustaining on bullish levels as RSI is in the overbought region for most of 2023. The MACD continues to form green bars on the histogram. Overall, the resistance level for BTC will be at $23K and $25K. Whereas, if profit booking momentum comes into action, support levels can be placed at $21K and $20K.
COINBASE:BTCUSD
by TradeDog-Research
1