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Cryptotrading

Weekly BTC-USD(6th December)Extreme fear sentiments dominated in the latter part of this week as bears started to command the whole Crypto ecosystem. The total market cap plunged by more than 10% from the high of 2.71 trillion to close the week at 2.27 trillion. With the news flowing in about the new COVID strain, both the traditional and crypto markets plummeted heavily. BTC witnessed a massive dump which also resulted in huge liquidations and closed the week with a ~14% decline and formed a big bearish weekly candlestick. At the time of writing, BTC is trading slightly below $49K. On the Daily TF, BTC is now trading below its 200-DEMA and has broken down its crucial support level of $50K which depicts that the bull party is currently over and bears have taken the charge. BTC made a low of $42,333 but bulls tried to cover their tracks and recovered more than 12% from its lower levels. Key Levels to watch out for:- Support 1- $46,200 Support 2- $42,000 Resistance 1- $51,000 Resistance 2- $53,000 Momentum:- Daily RSI indicator has now dipped to 30 which suggests it is reaching its oversold zone and short term pullbacks to the higher side can be expected from time to time. Weekly MACD is also giving negative crossover, suggesting the overall bullish trend structure is broken now and further selling pressure can be expected in the coming weeks.
COINBASE:BTCUSDShort
by TradeDog-Research
BTCUSD Trading Plan - 30/Nov/2021Hello Traders, Hope you all are doing good!! I expect BTC to go UP after finishing this correction. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
BITSTAMP:BTCUSDLong
by For3xScalper
Weekly BTC-USD(22nd November)After making a new ATH of $69,000 in the previous week, BTC witnessed a massive profit booking last week which caused BTC to close ~15% lower from its ATH level. It formed a big bearish candlestick on the weekly TF with a more than a 10% decline to close the week at $58,671. At the time of writing, BTC is trading slightly above $57,200. As per the Elliott Wave formation, it seems BTC will be completing its 4th corrective wave in the coming days and further selling pressure can be witnessed. Currently, BTC is trading in a very crucial range of $56,000 to $59,000. On the lower side, the nearest support level is present at $55,500. However, if this level is broken, further downside swing is most likely to continue till the level of $53,000. On the higher side, a strong sell wall is present above $65,000 as none of the weekly candlesticks has been able to close above this level. However, BTC has decisively broken the support of $60,000 now and this will act as the immediate crucial resistance for the way up, if bulls manage to close above this level, then further upswing rally is most likely to continue till the previous ATH levels. As per the major TF’s, the overall trend is still strong and currently, BTC is just completing its Elliot Wave structure and also strong buying can be expected from the Fibonacci retracement level of 0.618 which is present in the range of $51,500 to $52,000, therefore, these corrections are a part of the cycle and provide traders with a new opportunity to go long.
COINBASE:BTCUSD
by TradeDog-Research
BTCUSD Trading Plan - 18/Nov/2021Hello Traders, Hope you all are doing good!! I expect BTC to go UP after this correction is finished. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
BITSTAMP:BTCUSDLong
by For3xScalper