$BTC Daily Update$BTC $16,905 support held, Reattempt at $17,301 in progress. Bullish engulfing on last 1D close, Needs follow up from today's daily close, if followed thru $17,592 test likely. Continue watching given S/R
Cryptocurrency
BTC/USD - Weekly OverviewSince the start of December, Bitcoin has formulated a strong consolidation range between the price level of $17K and $17.5K. This could be a positive interpretation as compared to its performance during November end.
It could be noted that BTC is facing strong resistance above the 0.736 FIB level on the Fibonacci retracement table. The price level had also tested the resistance zone multiple times but was unable to have a positive breakout.
On the moving averages, MA-10 is still sustaining the positive crossover against MA-50 which is a positive sign. At the same time, MA-50 is proving to provide support to the world’s largest cryptocurrency whenever selling pressure is faced.
The RSI level is also sustaining within the rising channel pattern formulated on the chart. Overall, BTC might be consolidated in nature but sustainability above $17K could lead up to positive developments towards the end of the year. The resistance levels can be placed around $18K and $19K while the support levels can be placed at $17K and $15K.
ALGOUSDT Price has been in a consolidation. we have created a nice optimum trade entry setup. I am looking for the price to tap in the unmitigated OB and continue downward
RENTER: SHORT MATICWe can renter for shorting of MATIC with Risk to reward of 1:7.
Entry price: $0.9397
Stop Loss: $.9537
Target price : 0.8410
Long HOOKUSDT After Breakout of TrendlineHOOKUSDT newly listed coin on Binance trading in very tight range. The possibility of it explosive is high because if people from ICO was supposed to dump it, they would have dumped it in one or two days after listing.
Actually I entered in this position early and you can check from the linked idea attached to this idea.
Dogecoin short-Multiple trade setupDogecoin is forming some bearish trade setup these days.It may give us some great fall after the breakout.Here are two trade ideas-swing and intraday that I wanna share with you guys in detail.check below.
Trade 1: The first one is a swing trade.Dogecoin made a beautiful double top pattern in 1H time frame which broke out it's neckline(0.9684 level) downward and now is retesting from a lower level (0.09274) on a trendline.It is now at the breakout point of the trendline and if it breaks,a short trade can be initiated to the support level of 0.08012. You might have hold it for some days.keep an eye.
Trade 2:It's an intraday.A bearish pennant is made on 15m/1h time frame and about to break out.It can break downward to the level of 0.08894.if it breaks the pattern,a short trade could be taken there.follow the levels.
Make it happen,get some good profits.Happy Trading.
SHORT MATICVery Good Risk to Reward 1:5 setup for shorting MATTIC USDT:
Entry price: $0.9122
Stop loss: $0.9254
Target price: $0.8462
Important update on BTC! must see Above was my previous short trade on BTC and it took support and might touch 17400_18000 and then again break to the downside
Crypto trading challenge (BTC SHORT)took this trade earlier, my poi will be towards 16500's for now to start looking for any longs !
i try to stick to basic pa with minimal help of technical analysis for taking all my trades. also , for this trade, i had set a limit order because it was a high conviction setup even though usually im against it.
will keep updating the challenge here occasionally!
BTC could Bottom at 13220 $ Before Feb 2023.BTC could Bottom at 13220 $ Before Feb 2023. Keep buying in dip to see 300000 $ USD in next halving.
$BTC Daily Update$BTC $17,301 Continues to resist, no support from $17,097. $16,750 support currently in effect. 1D close bearish, failed to follow thru on bullish engulfing on 1D. Breaking below $16,750 will bring $16,155-$16,383 test, requires to hold $16,750 to reattempt
BTC/USD - Weekly OverviewThe past week has regenerated positive sentiment for the world’s largest cryptocurrency as it broke and maintained sustainability above $17K. The bullish rally could be reflected in the expansion of Bollinger Band’s width.
Moreover, MA-10 was able to have a positive crossover against MA-50 which could be a potential signal for more bullish momentum to come in the near term. However, BTC still needs to have a bullish breakout above the 1.0 FIB level which will help to test the crucial psychological mark of $20K.
Considering the technical indicators, the RSI level is standing at the bullish level of 62.51. Further build-up might test the resistance levels of $18K and $20K, respectively. However, any climb above 70 might be an indication of profit-booking momentum. This can be support levels of $16K and $14K into action.
$BTC Daily Update$BTC #BTC $17,097 resisted during the weekend as expected. Finally gained $17,097 as support, $17,301 resistance testing. 1D close with bullish engulfing, $17,592 next resistance from here which will require some struggle as it is a key resistance.
$ATOM idea. possible breakout from diagonal resistance$atom long possible trade setup! will be taking this one on my crypto challenge!
quick trade for APEUSDfound a quick trade on chart weekend so volume is low one can take trade with proper SL and Target
$BTC Daily Update$BTC Looking good, great follow up on 1D bullish engulfing. $17,301 resistance in effect. $17,097 support testing. Requires to gain $17,592 support or it will retrace towards $16,750 support or below.
$BTC Daily Update$BTC Put bullish engulfing as expected on last 1D close, current 1D trying to follow up. $17,097 resistance in effect, $16,750 current support yet to be tested. Continue watching given S/R
Want to see double top reversal ==> Here it is Bitcoin!!!!Double Top in Bitcoin
Crypto market has shown bull and bear cycle in very short span of time.
From rising from 10000 usd to 69000 usd and from 69000 usd to 16000 usd in span of around 2.1 years
I think it is fastest reversal of any new tradable market.
Double top means making almost two equal highs and failure of bull to make new high while bears pressure of continuous selling makes this pattern.
Neckline is where bitcoin has taken support as seen in chart.
Generally target from top to neckline is expected in double top.
Let us see whether bitcoin makes new low from now to reach target as marked in chart.
ETH analysis for short termETH has given a breakout of a rising wedge, Lets wait for a rejection from the supply zone and can look for a downside of up to 1040$ for the short term and 1110 for trading
If this analysis helped you then do follow and like.
BTC/USD - Weekly OverviewThe technical chart of Bitcoin reflects on the consolidation faced since the past week. On the chart, the consolidation rage is formbed between the price levels from $15.5K to $17K
Considering the technical indicators, RSI level is facing strong resistance for a positive breakout above 50. Currently, the level is showcasing negative nature while residing at 39.92 at the time of writing. MACD level is also having a hard time to climb above the histogram. However, it should be noted that green bars with considerable density are being formed on the histogram which can result in a positive trend in the near term.
The whole outlook for the world’s largest cryptocurrency is still skeptical with the current market conditions. However, BTC taking a breather and forming a consolidation zone might be the need of the hour in order to avoid further downfall. It is also have strong supports at $15K and $13K. In case of much needed upside, Bitcoin will face resistance around $17K and $19K.
$BTC Daily Update$BTC Broke $16,383 support as expected, $16,005 support in effect currently trying to gain $16,155. Last 1D close very bearish which resulted in this drop. $16,526 will resist on retest. Breaking $16,005 could bring $15,689 in effect.
Bearish Idea on BTCUSDBearish descending triangle has been formed and we expect breakout soon or later, here are our targets downward 13937 and 12371.
Remember that the break above the triangle may hint for further up move.
BTCUSD BEARISH IDEA D1The daily TM analysis, my next target for this dumb is 12k, unless FED continue to pivot, and you should note with the falling trendline resistance which the break above could change the game to bullish run.
