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BTC/USD - Weekly OverviewBTC had a positive crossover against the crucial psychological mark of $25K. The breakout suggested that there is significant positive momentum prevailing for the world’s largest digital asset. The RSI level is also trading at a bullish level (62.00) with the potential to have a positive breakout to the overbought region. However, the MACD level is looking vulnerable to a bearish crossover. Overall, the resistance levels for BTC can be placed at $25K and $27K. While, if the profit booking momentum kicks in, support levels can be placed at $23K and $21K.
COINBASE:BTCUSD
by TradeDog-Research
BTC/USD - Weekly OverviewBitcoin continued its positive momentum in the past week as the YTD gain reached approximately 40%. On the Fibonacci retracement table, BTC price level had entered the resistance zone which is above 0.786 FIB level. Considering the technical indicators, Bollinger bands has contracted its width which suggests a potential consolidation or profit-booking momentum. The MACD level has also started to form red bars on the histogram while the levels look vulnerable for a negative crossover. Overall, if the bulls are able to sustain the ongoing positive momentum, BTC will test the resistance present at $25K and $27K. However, if we witness a considerable profit booking momentum, support levels can be placed at $22K and $20K.
COINBASE:BTCUSDShort
by TradeDog-Research
BTC/USD - Weekly OverviewThe world’s largest cryptocurrency has maintained its positive momentum since the start of the year and generated approximately 36.83% YTD returns. On the chart, two areas are marked representing the resistance zone and sustainability zone, respectively. The current price action of BTC suggests that it will be targeting a positive breakout above the resistance zone placed above the 0.786 FIB level. However, the bullish engulfing candle which led to the breakout above 0.618 FIB level suggests that Bitcoin needs to spend some time in the sustainability region to formulate potential support zones. Having another bullish momentum on the current build-up might lead to volatile profit booking momentum which might deteriorate previously gained returns. The technical indicators including MACD and RSI are sustaining on bullish levels as RSI is in the overbought region for most of 2023. The MACD continues to form green bars on the histogram. Overall, the resistance level for BTC will be at $23K and $25K. Whereas, if profit booking momentum comes into action, support levels can be placed at $21K and $20K.
COINBASE:BTCUSD
by TradeDog-Research
1
BTC/USD - Weekly OverviewBitcoin started 2023 on a positive note as the price level formed a rising channel pattern on the chart. Considering moving averages, MA-10 is trading above both MA-20 and MA-50, which is again a positive sign for the world’s largest cryptocurrency. The RSI level is also showcasing an extremely positive nature with a breakout to the overbought region. At the same time, this may also suggest that we can witness a profit-booking momentum for BTC in the near term with the level exhausted at 77.91. Overall, BTC is yet to break above the crucial resistance levels of $18K and $20K, respectively. In case of a turn of events, it can have support at $16K and $15K, respectively.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Quarterly Overview (Q4'22)The last quarter of 2022 turned out to be the most damaging one for the world’s largest cryptocurrency. As the price level was able to maintain sustainability above the crucial support level of $18K, the collapse of the centralized exchange, FTX, resulted in a bloodbath in the overall market conditions. Thereafter, BTC suffered a new 52-week low of approximately $15.5K. Since then, the price level did not climb above the psychological mark of $20K ever again. Due to the downside, the price level of $18K has become a major hurdle for Bitcoin to break above. It did test the resistance mark during December but was unable to break above. Considering the current momentum, since the start of 2023, Bitcoin is forming a potential rising channel pattern that could retest the resistance present at the 0.382 FIB level. Until then, we can expect the world’s largest digital asset to move in a consolidating nature. Otherwise, a breakout above $18K can be a potential signal for bullish momentum in the near term. The support levels for BTC can be placed around $16K and $15K, whereas, the resistance levels can be placed at $18K and $20K, respectively.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewThe past week for the world’s largest cryptocurrency started on a positive note as the price level was able to break above $17.5K for the first time after November. Furthermore, the positive momentum led to a breakout above $18K but was unable to sustain for a longer duration. This could be justified on the 12-hour candlestick as the breakout represents a wick formation. Thereafter, BTC was not able to maintain sustainability in the resistance zone also led to a breakdown below 0.236 FIB level on the Fibonacci retracement table. Currently, the price level has again entered the lower consolidation range. Considering the technical indicators, MA-10 is vulnerable to have a negative breakout against MA-50 which could be an indication of further downfall. The RSI level has also disrupted its rising channel momentum causing a negative breakdown. Overall, BTC is looking vulnerable to retest support zones residing at $16K and $15K. In case of a positive comeback, it can face resistance at $19K and $20K, respectively.
COINBASE:BTCUSDShort
by TradeDog-Research
BTC/USD - Weekly OverviewSince the start of December, Bitcoin has formulated a strong consolidation range between the price level of $17K and $17.5K. This could be a positive interpretation as compared to its performance during November end. It could be noted that BTC is facing strong resistance above the 0.736 FIB level on the Fibonacci retracement table. The price level had also tested the resistance zone multiple times but was unable to have a positive breakout. On the moving averages, MA-10 is still sustaining the positive crossover against MA-50 which is a positive sign. At the same time, MA-50 is proving to provide support to the world’s largest cryptocurrency whenever selling pressure is faced. The RSI level is also sustaining within the rising channel pattern formulated on the chart. Overall, BTC might be consolidated in nature but sustainability above $17K could lead up to positive developments towards the end of the year. The resistance levels can be placed around $18K and $19K while the support levels can be placed at $17K and $15K.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewThe world’s largest cryptocurrency has developed positive sentiment during the past week as the price level climbed above and maintained sustainability above the psychological mark of $20K. Building upon the positive sentiment, BTC tested the resistance at $21K which is placed at 0.618 FIB level on the Fibonacci retracement table. But it did not have a positive breakout above the resistance level and currently facing moderate profit booking momentum. It could be expected that there’s a support build-up present at 0.382 FIB level. Considering the technical indicators, the RSI level is showcasing negative nature and is vulnerable to breaking below 50. The MACD level has also formed a bearish crossover and started to form red bars on the histogram. Overall, BTC has formed strong support points at $19K and $18K, respectively. On the opposite, if the positive trend prevails throughout this week, it could also test resistance present at $21K and $23K, respectively.
Short
by TradeDog-Research
BTC/USD - Quarterly Overview (Q3 2022)For the third quarter of 2022, Bitcoin had bullish inception during the first month upon which it had a build-up to test the major resistance level of $25K during August. The price action formed a rising channel pattern before facing significant retracement from the resistance level. The retracement somehow settled at the psychological mark of $20K and maintained temporary sustainability, however, by the end of August, the level was too broken. During the last month of the quarter, the world’s largest cryptocurrency was on the brink of breaking below the crucial support level of $18K but had a strong bounceback and retested the resistance present at $22.5K but failed to have a positive breakout and faced sharp retracement again. The price action pattern is witnessed for the second consecutive time which can indicate that between the price level of $22K to $25K, there are a great number of sellers expecting to encash their BTC Since then, BTC is looking to have a positive and sustainable breakout above the 0.786 FIB level based on the Fibonacci retracement table. It also suggests that bitcoin can face strong resistance at 0.5 FIB level and 0.382 FIB level respectively Considering technical indicators, the RSI level had been quite volatile throughout the quarter by entering overbought and oversold regions on multiple occasions reflecting upon the price rebound between the range of $18K to $25K. MACD level also reflects similar nature as it had multiple breakouts both below and above the histogram. Considering future prospectus, MA-20 just had a positive crossover against MA-50 which may provide some positive momentum for BTC in the upcoming days. The RSI level is also forming a rising channel pattern while the MACD level has again climbed above the histogram. Overall resistance levels can be placed at $21K and $25K. On the negative side, support levels can be placed at $17K and $15K
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewBitcoin price level hovered within the consolidation range depicted in the chart. The world’s largest cryptocurrency maintained sustainability above the strong support level of $19K. Thereafter, the price level is currently attempting for a positive breakout above the consolidation range. It must be noted that BTC faced a couple of negative breakouts after forming a consolidation range for a considerable time during the past months. Bulls might have an excellent opportunity to develop sustainability at a higher range and be a sentiment changer if the daily candle closes above the consolidation range. Supporting the hypothesis is the positive crossover of MA-10 against MA-25 and MA-50. However, on previous occasions, we have seen significant selling pressure as soon as MA-10 goes above other moving averages, reflecting the present resistance. RSI level is targeting the overbought region while residing at 63.34 at the time of recording. Overall, BTC will face resistance at $23K and $24K. Incase of a turn of events, support levels can be placed at $19K and $18K.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewAfter facing bearish momentum for the past couple of months, BTC is finally able to sustain above the crucial mark of $30K. Although the magnitude of the upside has been negligible since the start of June, sustainability might definitely provide a breather for altcoins too. BTC price level is trading above both MA-10 & MA-25 which can be a positive signal. A positive breakout above the major resistance level of $32K might bring back the much needed bullish momentum. The MACD is also supporting the hypothesis currently as the level is in the potential to bounce back above the histogram. Overall, resistance level of $32K will be a significant role for this week followed by $34K. On the opposite side, support levels can be placed at $30K and $28K.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewThe past week turned out to be a pivotal point for the world’s largest cryptocurrency. Bitcoin fell below the crucial mark of $30K, which further led to panic selling among the altcoins. A negative breakout from the descending triangle pattern during the first week of the month hinted for such a nosedive in the price level However, looking onto the brighter side, it must be considered that the price level has entered the accumulation zone, which led BTC to achieve its new all-time of $68,790 during the past year. Therefore, it can accumulate a new set of investors within the current range to bring back the positive momentum The technical indicators are still suffering from the wrath of bears but hints at a possible bounceback. RSI, after nosediving to the oversold region, is showcasing positive nature while residing at 33.24. The MACD is still below the histogram forming red bars and shows the potential of a bullish crossover in the upcoming days Maintaining sustainability above $30K and $28K respectively will be very important for BTC to avoid further decline. On the positive side, resistance can be placed at $32K and $36K.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC-USD (June 15 [IST]) SignalsBTC is Currently on the Bears Mouth Price Action is found to be gaining a huge Momentum. Increased Volume and Volatility. BTC hits its next milestone of 40,000$. But, Needs more improvement of Price Action The Levels Marked on the Chart will be useful for Swing Traders. Could Be another Down this Day. Expecting a -720$ and a minimum Dip Value of +292$. Sell at +292$ From Opening to make Higher Profits this day. Thanks for using your Valuable time. Leave a like which helps me to do better. Follow me for Daily Signals, Get updates on, FOREX, Stocks, INDICES, Crypto, #--CFD's to be expected soon. (Share to your Market Friends)
BITSTAMP:BTCUSDShort
by Young-Money
BTC/USD - Weekly OverviewThe world’s largest digital asset is facing consolidation for the past couple of weeks. On the technical chart, it has formed a consolidation range between FWB:27K to $29K. Within the consolidation range, the price level is having support from the middle basis and resistance from the upper line as well. An opposite move could be a significant momentum signal. The RSI level is showcasing negative nature (55.85), which means that BTC might again test the support present on the middle basis. The level of consolidation could be identified through Historical Volatility which is currently just at 7.52. Overall, Bitcoin needs to break above $30K and then $32K to resume its bullish momentum. On the contrary, if the profit booking momentum kicks in, it will have support at FWB:27K and FWB:25K , respectively.
COINBASE:BTCUSDShort
by TradeDog-Research
BTC/USD - Weekly OverviewThe world's largest cryptocurrency developed a much-needed sustainability above the FIB level of 0.236 FIB level. However, MA-20 looked vulnerable facing a negative crossover against MA-50. This may result in a breakdown below 0.236 FIB level. The RSI level also showcased its negative nature while residing at the level of 36.72. Overall, the support levels for BTC can be placed at $26K and $24K. While the resistance levels can be placed at $30K and $32K.
COINBASE:BTCUSDShort
by TradeDog-Research
BTC/USD - Weekly OverviewBitcoin started to shed its positive returns at the start of the second month of 2023. As observed in the chart, the BTC price level is currently trading at a critical level of 1.0 FIB level upon which a negative breakout could result in further price damage. MA-10 also suffered a negative crossover against MA-50 in the past week. The downside expansion in the width of Bollinger Bands suggests that the world’s largest digital currency faces considerable selling pressure. The RSI level is also showcasing a falling channel pattern after sustaining in the overbought region for about a month. However, it is currently vulnerable to a negative breakdown to the oversold region The MACD level has also broken below the histogram while forming red bars. Overall, the support levels can be placed around $21K and $20K. On the other hand, resistance levels can be placed at $23K and $25K.
Short
by TradeDog-Research
BTC/USD - Weekly OverviewThe past week has regenerated positive sentiment for the world’s largest cryptocurrency as it broke and maintained sustainability above $17K. The bullish rally could be reflected in the expansion of Bollinger Band’s width. Moreover, MA-10 was able to have a positive crossover against MA-50 which could be a potential signal for more bullish momentum to come in the near term. However, BTC still needs to have a bullish breakout above the 1.0 FIB level which will help to test the crucial psychological mark of $20K. Considering the technical indicators, the RSI level is standing at the bullish level of 62.51. Further build-up might test the resistance levels of $18K and $20K, respectively. However, any climb above 70 might be an indication of profit-booking momentum. This can be support levels of $16K and $14K into action.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewThe technical chart of Bitcoin reflects on the consolidation faced since the past week. On the chart, the consolidation rage is formbed between the price levels from $15.5K to $17K Considering the technical indicators, RSI level is facing strong resistance for a positive breakout above 50. Currently, the level is showcasing negative nature while residing at 39.92 at the time of writing. MACD level is also having a hard time to climb above the histogram. However, it should be noted that green bars with considerable density are being formed on the histogram which can result in a positive trend in the near term. The whole outlook for the world’s largest cryptocurrency is still skeptical with the current market conditions. However, BTC taking a breather and forming a consolidation zone might be the need of the hour in order to avoid further downfall. It is also have strong supports at $15K and $13K. In case of much needed upside, Bitcoin will face resistance around $17K and $19K.
COINBASE:BTCUSD
by TradeDog-Research
BTC/USD - Weekly OverviewThe past week commenced on a significantly positive note as the world's largest cryptocurrency broke above the price level of $22K for the very first time this month. However, due to the prevailing sentiments, the price level was not sustained for a longer duration. This certainly indicates that the ever-lasting felt-like bear market has forced investors to sell at whatsoever higher price available. Considering the Fibonacci retracement level, the price level is facing strong resistance above the 0.786 FIB level. Additionally, it has been observed that lots of Doji candles have been formulated in the chart from the past week. This suggests that there’s a sort of indecisiveness present and sideways momentum can last longer. Looking at the current trend, the RSI level is showcasing positive momentum with a breakout above 50. The same applies to DMI in which +DI is looking to have a potential positive crossover against -DI. Overall, BTC can face resistance at $20K and $22K. Whereas if things go south, support levels can be placed at $19K and $18K respectively.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewAs the global economic conditions turned bearish during the past week, Bitcoin seemed to struggle between the price level of $18K to $19.K. However, the crucial support level of $18K remained intact. The current price level is hovering around $19K and might look to retest the resistance present at $20K In a short timeframe, the price level needs to have a positive crossover above MA-50 which can help to regain bullish momentum. Looking at the technical indicators, the RSI level is looking to cross above 50 which might prevail in positive sentiment for the world’s largest cryptocurrency. MACD level is still struggling below the histogram but has started to form green bars Overall, the price level has avoided significant price dumps by having strong sustainability above the crucial support level of $18K. If broken below, the next support level will be $17K. BTC might also test the psychological mark of $20K on the upside and if had a positive crossover, the next resistance level can be placed at $22K
COINBASE:BTCUSDLong
by TradeDog-Research