If we hold above $42.5k level then chances are price will bounce back from this level eventually price will go up,if it fails to hold above this level then market can go bearish for a short period of time
After the recent PA, 2 of these 3 scenarios are now cancelled out. Only one remains.
This has a high probability for me, will pay attention to its progress, with clear invalidation
Keep your eyes open.
If it plays out, we should bottom in the last week of Sept.
Investors say bitcoin’s movement coincided with hundreds of millions of dollars in options expiries on Friday. They also pointed to Fed Chair Jerome Powell’s dovish Jackson Hole, Wyoming, speech, suggesting that bitcoin is seeing a catch-up trade as most other assets reacted at the time except for bitcoin.
As per this chart, most likely, BTC could Break Down from the Blue Dashed Curve Support around 10 September 2021 (+/- 3 days). Till then Mid Cap, Small Cap and Shit Cap Coins could perform well.
I don't understand why? It's been a decade and everything crypto falls if bitcoin falls. Imo people should buy alts when btc falls and when btc is about to rise, should move out of alts and buy bitcoin. You get better value in dollars. Wright wrong may be?? Comments appreciated.
I think BTC might come to test to the 42000 support, and then it will go to the moon. one thing to notice, there is a RSI divergence in daily chart, which signals that a pullback may occur.
BZRX showed wonders in the 2017 BULL run, many analysts are still expecting the same to happen. Lets see. Give a LIKE and FOLLOW if you agree with my idea.
BTCUSD is looking for short opportunity for the move to the downside & has formed ascending channel on 4h timeframe which has the bull trap along with for the continuation to the downside
Some people are already giving up on Bitcoin... Don't join them.
Just be patient, it will recover.
Namaste.
P.S. Altcoins (ALTSBTC) growing as promised.
The Bitcoin price is above 0.38 Fib and Resistance 2. Now we can see on the chart that the strong supply zone is next to the current price. There are also two strong levels of resistance: 0.5 Fib ($35000) and 0.61 Fib ($36500). While the price is below it I'm still bearish on Bitcoin. Now it is nice opportunity to execute a short trade with the stop-loss above the...
Redistribution begins with volatility and ends with volatility. Typically a Selling Climax initiates the Redistribution process. The Redistribution process looks eerily similar to Distribution. A review of the process of Distribution could prove helpful (to study the Distribution process and schematics click here). On the ARMH case study; cover up everything to...
Currenty BTC bounced of from 400 EMA and now trading very near to that. The yellow dotted line is a major support which have not been tested for a very very long time. If this support is broken and starts trading below that tehn we can finally say that BTC is in a bear trend.
Stay Cautious
