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Cryptotrading

Weekly BTC-USD(23rd August)Bitcoin continues its uptrend for the 5th consecutive week, the bulls overall dominated the whole crypto ecosystem as the combined market capitalization reached more than $2.2 Trillion. BTC witnessed a volatile last week as it made a low of $43,955 but strong buying pressure pushed the price to $49,821. At the time of writing, BTC has been trading slightly above $50,100. Currently, BTC has been trading in a crucial range of $50-$51K as it can act psychologically. BTC has now appreciated by more than 70% from its July lows which mildly depicts a cooldown phase or a consolidation phase in the coming days. However, weekly RSI is still not in the overbought zone which suggests that this rally can continue. On the higher side, BTC has a stiff resistance in the range of $50.5K to $51K, if it decisively breaks this range, the next potential target would be $53K followed by $55.5K. On the lower side, the nearest support is present at $48.5K, followed by $47K. Weekly MACD is also entering into the positive zone which depicts that buying momentum should continue in the coming weeks, but a daily closing above the level of $50.5K will act as a confirmation to go Long.
COINBASE:BTCUSDLong
by TradeDog-Research
PYR-USDTVulcanForged is one of the fastest-growing blockchain gaming platforms. There are 8 games present under a single roof. They also have recently launched an NFT marketplace and a DEX for the smooth transaction of in-built assets and partner project tokens. All this ecosystem is run by the native token of Vulcan Forged i.e. PYR. This makes the PYR token undervalued and can be considered as the Hidden gem of the crypto ecosystem.AT the time of writing this, PYR has gained by more than 4% is trading at $2.88. As per the Daily TF, the overall trend of PYR-USDT is looking bullish as it is sustaining above its major and minor DEMA’s. The Daily MACD is also in the green territory which mildly depicts that buying strength can continue in the coming days. On the smaller TF(4 Hr), PYR has been trading in a horizontal channel pattern for the last 3 weeks. But, it seems it is ready to break out from its channel resistance. Currently, it is facing resistance from the middle band of the channel which is placed at $2.95, once we get a decisive breakout from this level, the next potential target is $3.50 followed by the next resistance at $4.50. On the downside, the nearest support is present at $2.75 followed by the next support at $2.50. It is not likely that PYR will test these support levels again, however, if it enters this range, this would be a golden opportunity to accumulate.
Long
by TradeDog-Research
CHZ-USDTCHZ has been trading in a horizontal channel formation for the last 2 months. The sideways trend is still intact but at the time of writing, it is trying to breach its upper band resistance. On the weekly TF, CHZ has already gained more than 20% this week. Weekly MACD is also given bullish crossover which depicts that trend reversal can be expected in the coming days. At the time of writing, CHZ is trading at $0.33. On the higher side, the immediate hurdle is presented by the upper band of the channel which is at $0.36, if it closed above this level on a daily basis, the next potential target would be $0.42, followed by the next major resistance at $0.52. On the lower side, the nearest support is present at $0.30, if it breaches this support, the next support is presented by the middle band of the channel which is placed at 0.27 followed by the next major support at $0.24. On a larger TF, CHZ is trading in a descending channel formation with major resistance at $0.40, CHZ will have to sustain above this level which will act as a confirmation of the Trend Reversal.
Long
by TradeDog-Research
Weekly BTC-USD)(9th August)BTC continues its joyride for the third straight week, it has appreciated by ~50% in the last 3 weeks. With this week’s bullish candle, BTC has completed 3 White Soldiers candlestick patterns, this is a bullish pattern and is used to predict market reversal. Currently, it is sustaining above its 0.618 Fibonacci retracement level, which is present at $43,045. After almost 2 months of consolidation, BTC managed to decisively break its sideways trend by closing this week above $41,500. Weekly MACD is also signalling a trend reversal as it has started to enter the positive territory. On the Daily TF, the Golden cross can be expected in the next couple of weeks. On the higher side, the immediate resistance is present at $44.5K. If it breaks this range decisively, the next major resistance is present at $47K followed by $49.5K. On the lower side, the nearest support is present at $42.5K, if it closes below this level, the next potential support is present at $41.3K followed by $39.5K.
COINBASE:BTCUSDLong
by TradeDog-Research
Btc projections-NOT FINANCIAL ADVICE- also this is my first time posting so the draft might be a bit amateur. let's start- The current trend should continue for the next 7-10 days barring a major Sell-off, hence we should testing the 58k fib level within August. There could be some sideways action at that level. Then 2 things could happen:- Bullish projection- All time high around 80k to 100k would be reached by year end with around 65% correction following. Bearish projection- BTC reaches 56k in august then falls sharply and tests the 200 week moving average/ around 20k. This is all pure speculation and my personal analysis, this should not be taken as financial advice.
BITSTAMP:BTCUSD
by gurazeezsachdeva
ETH-USDOnly 2 days are left for Ethereum's Hard Fork, this upgrade will be very critical for the Ethereum based dApps. Ethereum London Hard Fork popularly known as EIP-1559 Upgrade is scheduled to go live on August 6th. The upgrade is expected to reduce the gas fees being charged on transactions by implementing a base fee pricing mechanism that would dynamically change with respect to the congestion in the blocks of the Ethereum blockchain. On the Daily TF, ETH was trading in a Bullish Descending Triangle pattern and on 29th July, it gave a strong breakout from its resistance after forming a Double bottom kind of formation. Currently, it is sustaining above all its major and minor DEMA's. Also, the short term trend is turning bullish as its 50 and 100-DEMA is giving a bullish crossover. Daily RSI is not indicating overbought conditions yet which suggest that the current rally can continue in the coming days also. On-Chain data is also showing a positive structure, as per the Santiment(On-chain data insights provider), unique active addresses on the Ethereum network has surpassed BTC address activity. Key levels to watch out for: The nearest support is present at $2400 followed by $2250 as its 50 and 100-DEMA is also present at this level. If it closes below this level, selling pressure is most likely to continue till the level of $2K The immediate resistance is present at $2650, if it decisively breaks this level, the next major resistance is $2850 followed by $3100.
BITSTAMP:ETHUSDLong
by TradeDog-Research
Huge opportunity on Ethereum.Reasons why I'm bullish: - All of the daily Moving Averages are pointing up, meaning that the prince is tending to go up. - ETH went up for 13 consecutive days, we need a pullback to keep going up. - The daily RSI showed that ETH was overbought for the first time after 13 days (Good sign for a pullback). - We have a nice and clean Double Bottom on the daily chart . - The (0.382) Fibonacci Retracement is extremely close to our zone of action in our double bottom and the (0.5) Fibonacci is right on a previous support area . MY BUY ZONE is between: $2198 - $2400 MY TARGETS are: 1- $2900 (~29%) 2- $3160 (~40%) 3- $3440 (~53%) MY Stop Loss is: $1800 (-20%) Always do your own research before getting in a trade, you always need to know the WHY and WHEN to entry and exit all your trades. Disclaimer: This is not financial advise, this post is for educational purposes only.
Long
by ClubCryptoTraders
Weekly Analysis of BTC-USDBitcoin posted a strong upside rally and closed the last weekly candle with more than 12% gains. It formed a bullish weekly candle and made a high of $42,605 but in the last two days, traders rushed to book profits at higher levels and closed the week slightly below $40K. AT the time of writing, BTC is trading around $40,090. On the Daily TF, BTC is now sustaining above its major DEMA’s which depicts that further buying strength is most likely to increase in the coming days. Currently, BTC is trading in the Fibonacci levels of 0.786 and 0.618, which is placed at $34.7K and $43K. However, the resistive level of $42K is very critical for the next upside rally. Once we get a decisive breakout from this range, the next potential target is placed at $45.5K followed by $48.5K. On the downside, the nearest support is present at $39K, if it breaks this level on a closing basis, the next support is present at $36.5K followed by $34.5K. Weekly MACD is about to give a positive crossover which suggests that BTC has started to turn bullish and we can expect trend reversal in the coming week. The daily RSI has given a clear breakout from its trendline resistance which also depicts the same. However, a weekly closing above the level of $41K would act as a confirmation of the trend reversal.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(26th July)BTC started the week of July 19th to 25th with the bearish movement, falling to the low of $29,300 on July 0th, however, a strong pullback rally followed and helped BTC to close the week in the green territory and formed a big bullish engulfing candle to close the week with 11% gain at $35,428. At the time of writing, BTC is trading slightly above $38,200. This strong upward rally is most likely triggered by the massive short liquidation streak, in fact, it spiked to about $48K on Binance futures as over $100 Million of short positions were wiped off. However, BTC is still trading in its horizontal channel and it has to sustain above $41K that will act as a confirmation of trend reversal. Even after this 17% gain, the major trend of BTC is still bearish. BTC is currently above 0.786 Fibonacci retracement level which is placed around $35K and also its 50-DEMA is also present in this range, therefore, the range of $34.5k to $35k will act as the nearest support level followed by the next support at $32.5K and $30K. On the higher side, BTC is facing selling pressure from the upper band of the channel which is placed at $39.7K to $41K, also, its 100-DEMA which is placed at $38.6K is also acting as an immediate resistance, once we get a decisive breakout from this range and BTC starts sustaining above $41K, this will act as a confirmation to go long for the next wave. On the plus side, Daily RSI has given a fresh breakout from its trendline resistance which it was respecting from past January 2021. Weekly MACD is also suggesting a trend reversal as it is trying to enter the positive territory. This depicts that the trend reversal can be expected in the coming days but a confirmation would be required to conclusively suggest that trend has reversed.
COINBASE:BTCUSD
by TradeDog-Research