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BTCUSDT Analysis for 03/08/2022 by DMFX partner of OCTAFX With reference to the BTCUSDT Performance, I am providing the Analysis Based on SMA, Resistance, Support, and RSI Weekly Analysis - Bitcoin has made a decent comeback after a long/ Big fall in the Period of April to June ( 48000 USD to 20000 USD ) It started gaining momentum again / The bulls are going to take it back from last few weeks i.e. From 20000 USD to 23000 USD. Continuous 4 candles rally that is bullish. In the last week, it has made a Spinning Top candle that gave some indecision in the market or The present ongoing trend is weakening. We need to wait for the market to give a proper trend that can be Bullish or Bearish. Daily Analysis: Looks very bullish as the past 5 candles look promising that bulls are not going to book profit. they want to push the market to further figures but is in the Consolidation phase between two channels / Parallel channels it has to come out for confirmation of direction. stay tuned for more analysis like share and Comment
Long
by kingprenuer
Bitcoin : Price Predictive AnalysisThe above chart of Bitcoin (BTCUSDT) laid out a Cup and Handle pattern (Bullish Pattern) . In a Cup and Handle pattern, the price movement forms a U-shaped Cup and then a subsequent price drift downwards forms a handle. This pattern in general is characteristic of a Bullish trend. If the price breakout and moves towards the uptrend, the bullish pattern is expected to continue. Currently, Bitcoin (BTCUSDT) is at $23165( Above the Breakout Level). If the pattern continues on the higher trend, then the price of Bitcoin (BTCUSDT) might reach the resistance level (Measured Length) of $29275, If the trend reverses, then the price of Bitcoin (BTCUSDT) may fall to $21460. From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Bitcoin (BTCUSDT). Resistance Level 1 $23820 Resistance Level 2 $25830 Resistance Level 3 $26850 Resistance Level 4 $29275 Support Level 1 $21460 Support Level 2 $18673 Bitcoin (BTCUSDT) Resistance & Support Level
Long
by TheNewsCrypto
Weekly Analyze of Crypto Investing in July, 2022This week, the popularity of the crypto market has increased, and the market has broken through with the trend, and the trend is expected to remain. BTC’s daily breakout and step back verification trend extended to the weekly line, and finally it successfully stopped falling and completed another breakthrough. The daily line returns to the upward trend, and there is a certain resistance on the upper edge of the upward channel constructed. The support range is 22000-22500, and the pressure range is 26000-26500. ETH has a positive weekly line and is currently in the process of repairing the second big Yin column in the previous downtrend. If the potential resistance of MA120 is superimposed, the pressure range is 1900-2000. The daily line showed a pull-up, and the consolidation broke through the higher pattern again, and the trend was still strong. Trend defensive range 1500-1600. Vtrading is a crypto trading platform providing smart coin trading strategies for every trader. If you are using Vtrading smart crypto trading bots, the Grid and Martin strategy are suggested for spot market, and the SMT strategy for futures market.
by VtradingGlobal