Get started

Cryptotrading

BTC price action I am sharing 4hr timeframe chart just to give you all clear view of what happening with regards to $BTC Since BTC started its downward movement after hitting 69k. BTC was moving downward in a parallel channel. After the breakout of the channel. BTC got rejected at 51.9k and again it started moving in a new downward Parallel channel. As you can see BTC price is still going downward but the RSI is moving up. Which is a hidden bullish divergence and same divergence can be seen on daily timeframe. Note: These are just my observations. Kindly DYOR.
by dhingravivek
Weekly BTC-USD(3rd December)After the last weekly gains, BTC again witnessed a bearish movement and closed the week with a 6.90% decline. It continues to consolidate in the range of $45,000 to $51,000 for the 4th straight week, which suggests that the tussle between bears and bulls is still going on and there is no definite trend. At the time of writing, BTC is trading slightly above $47,000. On the Daily TF, BTC is sustaining below its 200-DEMA but managing to hold its support presented by 0.786 Fibonacci level which is present at $46,200.The trading range has been diminishing for the past 5 days and a breakout to both sides can be expected in the coming weeks. On the higher side, the immediate resistance is placed at $48,500, if BTC manages to close above this level, the next potential hurdle is present at $50,000 followed by $52,000. On the other hand, the nearest support is present at $45,600 but if it breakdowns below this level, the next major support level is placed at $44,500 followed by 43,500. As per the Momentum indicators, the weekly MACD has turned bearish and further downside corrections can be expected, whereas, Weekly RSI is trading flat in the range 43-46. According to the current technical charts, we advise traders to wait for the market to depict a definite trend before taking any new positions
COINBASE:BTCUSD
by TradeDog-Research
Weekly BTC-USD(27th December)After consolidating in the range of $46,000 to $50,000 from the last 15-20 days, BTC closed the last week on a positive note with ~8.81% gains. Other crypto assets also witnessed a positive week as the combined crypto market increased from $2.10 Tr to close the week at $2.395 Tr. BTC formed a strong weekly candle which slightly depicts further movement to the higher side that can be expected in the coming days. As per the Daily TF, BTC is trading between its 200-DEMA and 50-DEMA for the last 4 days but the trading range is getting narrower with every passing day, which suggests that a breakout can be expected in the coming days. On the higher side, the immediate resistance is presented by 50-DEMA which is placed at $52,500, however, a decisive breakout above this level can trigger a fresh new move to the higher side till the first level of $54,000 followed by $55,600. On the lower side, BTC has sustained above its 200-DEMA from last 4-5 days, which suggests that strong buying pressure is present at this level, but if bears managed to break this level again, downside rally can continue for the first level of $48,500 followed by $46,000. As per the candlestick patterns, BTC has formed a Bullish Engulfing kind of pattern on the weekly TF which suggests that trend reversal is on the cards, however, momentum indicators are still lagging the strength, therefore, we advise traders to Go long only with tight Stop Loss.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(20th December)Bears continue to dominate the crypto markets as well as the traditional equity markets due to the news flowing in about the Omnicon Virus outbreak in many parts of the world. The combined Crypto M.cap declined by more than 4% last week whereas BTC prices took a dip of 6.79% in the same period. At the time of writing, BTC is slightly trading below the level of $46,000. On the weekly TF, BTC formed a solid bearish candlestick which depicts negative sentiments in the market. The nearest support is presented by its 50-WEMA, placed at $44,800 as a strong recovery was witnessed from these levels. On the Daily TF, BTC is forming a descending channel kind of formation, depicting that market trend to be sideways to bearish. On the higher side, the immediate hurdle is present at $48,000 followed by $50,000 as its 200-DEMA is also present at this level, decisive closing above the $50K would be the first signal for the trend reversal. On the lower side, the support is present at $45,400 followed by $44,000. Momentum indicators like RSI are depicting flat sentiments as it is trading in a range from the last 3-4 days. BTC is most likely to trade in the range of $48,500 to $44,000 for the coming days, so we advise traders to wait for the market to break any major level before taking any new positions.
COINBASE:BTCUSD
by TradeDog-Research
Elliott Wave Corrective Wave Theory- DYDX to $28 soon! Hi traders, pl. refer to the above chart for knowing how Elliott Wave Correction Theory is currently forming up on DYDX. Some pointers- * DYDX has stopped forming new lows rather forming equivalent lows which shows end of an impulse downside move. * We see huge volume expansion showing the interest of people * We see RSI bullish exaggerated divergence meaning the Price is forming flatter bottoms but the RSI looks bullish as it forms lower highs. * We have entered wave A HODL
Long
by meetmoneypenny