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BTCUSDT

Bitcoin (BTC/USDT) Short Position!Hello Cryptonauts, In the BTC/USDT pair we have the formation of a descending triangle (a continuation pattern). Added to that, we have a bearish flag. Using the flagpole size we can target our short position at ~18541. The price failed to breakout the smart money level (dashed line), which corroborates our short position. However, we have support at ~19501 so we can start a trailing take profit from the support level if it doesn't break down. Our stop-loss will be at ~20115 above the pivot level (~20038).
Short
by cryptosrocket
BTC/USD - Weekly OverviewThe month started with bearish sentiment and still prevailing as the world’s largest cryptocurrency is unable to maintain sustainability above the crucial psychological mark of $20K. Since the past month, the price level had a negative breakout from the rising channel pattern and currently possibly forming a falling wedge. Furthermore, it should be noted that BTC is struggling at the lowest level of Fibnonnaci retracement table. Technical indicators including RSI are also replicating similar sentiment as it had failed to break above 50 since mid of the past month. During the previous week, MA-50 faced a sharp negative breakout against MA-100 which suggests that further correction can occur. Overall, Bitcoin needs to sustain crucial support levels including $19K and $17K. If there’s a quick of sentiment in the market conditions, resistance levels can be placed at $21K and $23K.
COINBASE:BTCUSDShort
by TradeDog-Research
btc the daily horrible analysis lower prices look very real hi guys just a quick overlook on the daily btc chart from ath horrible sight to see three bear flags one after the other inside of a falling wedge since atheach time we broke previous flags we had near enough the same drop of around 45% we have broke out of our latest flag are we going to see another 45% drop in price to the 14k mark its possible given the conditions we are in or even are we going to see a double bottom form at 17k then bounce do i think the bottom is in i dunno it looks unlikley whilst weve been in our recent bear flag we have had a msb creating an order block just below bear flag we are in that ob now and testing the .38 trend fib from recent drop from previous flag 19k is critical for us i think over the next week im hoping we can bounce if we do bounce id think we will make are way back to the top resistance level of bear flag not all at once also an inverse elliot wave predicts this move too hopefully bulls come back and sort the job out or are we just clutching at straws thanks guys scopes
by scoperfi
btc inverse head and shoulders so yesterday morning i marked this symetrical triangle out traded a long as it was forming the head (which i didnt know at that time) knowing that this triangle would break to the up well have a better chance to break to the up rather then the down woke up this morning its smashed through the triangle giving a 3% gain/rise retraced back down to make a hl and use the traingle upper level as support at the same time made an inverse head and shoulders so if we play out the way that these patterns normally play a long would be good to around the 21200k mark thanks guys scopes like and share
Long
by scoperfi
BTC/USD - Weekly OverviewThe overall market conditions are falling into the bear trap towards the end of August. The past monthly performance of BTC suggests that the upcoming month of September is said to be bearish and the build-up is witnessed during the end of August. Pretty much similar happening in the current market scenario. Moreover, after a negative breakout from the rising channel pattern during the past week, the price level has faced a steep decline and potentially formed a falling channel. Technical indicators suggest that more downfall can be expected in the upcoming days. RSI level has reached the oversold region and needs a positive bounceback. MACD levels have gone below the histogram again and faced multiple bearish crossovers. Overall, incase of further downfall, support levels can be placed at $18K and $17K. However, if the world’s largest cryptoasset showcases some positive momentum, resistance levels can be placed at $21K and $23K.
COINBASE:BTCUSDShort
by TradeDog-Research