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BTC/USD - Weekly OverviewAs previously suggested by our team of analysts, Bitcoin is moving within the rising channel pattern marking higher highs and higher lows. The pattern also represents positive sentiment present in the overall market conditions. Considering moving averages, MA-50 is showcasing a positive trend on that chart and had provided support to the price level on multiple occasions during the past couple of weeks The MACD level is also looking at the potential to have bullish crossover which can further result in more positive momentum for the world’s largest cryptocurrency. The RSI level is also backing the hypothesis of a positive trend as a sharp positive bounceback is reflected on the chart. The current level is residing at around 62.10. Overall, BTC has developed strong sustainability around $22.5K and $21K. If the positive momentum continues to sustain, it can face resistance at $24K and $25K respectively.
COINBASE:BTCUSDLong
by TradeDog-Research
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 $18673 Bitcoin (BTCUSDT) Resistance & Support Level
Long
by TheNewsCrypto
ETHUSDT : Lower Low and Lowe High Structure Ethereum 1)Structure 2)Moving Average 150MA 3)Volume Analysis 1) Structure: Lower Low and Lower High Currently, in the hourly time frame, the price is trading in a Lower Low, and Lower High Structure which means the price is bearish in nature, However, there is a chance to change the current trading structure which we mentioned as CP in the chart Change in Polarity (CP): CP means once a Resistance Level is broken then it becomes a Support level for the next trend structure (Change in Polarity 2140$ Level) 2) Moving Average 150MA : In the hourly time frame price is observed below 150MA, which indicates the structure is still controlled by the Bearish hands 3)Volume Analysis : The volume declined from May 12 to the current date we analyzed, indicating that there is much less demand at the current level 4) Expectations/Probability Probability 1: The price can break the $2,140 level and then it could climb to the $2,450 level. Probability 2: The price can consolidate between the 1740$ - 2140$ level for some more days and then it could move to higher side
Long
by TheNewsCrypto