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Weekly BTC-USD(24th January)Crypto markets continue to bleed as the total crypto Mcap plummeted by more than ~20% in the last week alone. Uncertainty in Russia and Ukraine also adding more fuel to this fire. Overall, the global markets are also trading in red from the start of this year and due to high correlation between both the markets, crypto markets plunged more than the Equity markets. On the Weekly TF, BTC formed a big bearish candle and closed the week with more than ~16% declines but managed to close slightly above its 100-WEMA. At the time of writing, BTC made a new low for 2022 and is trading just above $33,500. As per the current market scenario, bears are in full strength and every move by Bulls is being pushed back to lower levels, lack of bullish strength is mainly due to the continuous liquidations bulls have to face from the last 1-2 months. BTC is already trading below its crucial psychological levels of $40K, however, the immediate support is present at $32K followed by $30K, but if BTC bears also managed to crash below $30K, then this will result in breakdown of the Double Top neckline structure, this can result in further downswing to continue for more 15% to 20%. If the bearish trend continues, there will be minor pullbacks to the higher side which can be used to close your Long positions or enter into a new short trade. However, we can expect fresh buying in the range of $29.5K to $30.5K and hence a trend reversal or sideways trend can be expected before we break below the $30K level. The nearest hurdle is placed at $36,000 followed by $38K and then the major resistance at $40K. Weekly RSI is trading at its lowest level since 2021 and Daily RSI is already in the Oversold zone which depicts that short term pullbacks can be expected in the near term.
COINBASE:BTCUSDShort
by TradeDog-Research
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(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
Weekly BTC-USD(8th November)BTC continued its bullish momentum for the third straight week. After consolidating in the range of $60K to $64K in the previous weeks, it has given a fresh breakout and at the time of writing, it is trading around its ATH of $66K. BTC formed a bullish hammer kind of weekly candlestick pattern which depicts that bulls are going to dominate the charts in the coming weeks. The combined crypto market cap reached a new milestone by surpassing the $3 Trillion mark. On the daily TF, after a brief consolidation for more than 14 days, BTC has given a fresh breakout and is currently trading very close to its ATH. On the higher side, the immediate hurdle is present at $67K. If we get a decisive breakout from this level, the next potential target would be 69.5K followed by 71.5K. On the lower side, BTC continues to sustain above the level of $60K as none of the last 5 weekly candles hasn’t closed below this level which depicts that strong buying strength is present in this range. The nearest support is placed at $62.5K followed by the crucial level of $60K. Weekly RSI is showing slight divergence with the price and is around its overbought zone of 70 which depicts that small corrections and cooldown periods can be expected on the way up. Majorly, the overall trend is positive and the small corrections can be a good opportunity to take new long positions.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly Analysis of BTC-USD(16th August)Bitcoin continued its bullish saga for 4th straight week as it has now rebounded more than 41% from its July lows. BTC formed a strong bullish candle and appreciated by more than 7% in the past week alone. Weekly MACD is also depicting a bullish scenario as it is entering into positive territory. At the time of writing, BTC is trading around $47K. The positive trend is still intact and there is now signs of weakness as of now. BTC has already given a trendline breakout and is currently sustaining above that range. Also, BTC has already given a Golden Crossover on the Daily TF, which depicts that buying momentum is most likely to continue in the coming sessions. On the higher side, the immediate hurdle is present at $48K as it has tried to breach this level thrice but hasn’t been able to do so, however, if it decisively breaks this resistance, the next potential target is present at $49.5K, followed by the next level of $51K. On the lower side, the nearest support is present at $46.5K, if it breaks down below this level, the next support is present at $45.5K followed by $44K. Currently, as all the indicators depict a positive stance, any decline or retracement should be considered a buying opportunity.
COINBASE:BTCUSDLong
by TradeDog-Research
2
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 Analysis of BTC-USDBTC witnessed a volatile last week, from its low of $31K to close the week above $39.3K. On the weekly TF, it gained by ~9% and formed a Hammer candlestick pattern which depicts reversal is on the cards, mainly backed by positive news from El Salvador which have adopted BTC as a legal currency. At the time of writing, BTC is trading slightly above $40K. Bitcoin after dropping by ~50% from its All-Time High has found its support in the range $34K- $30K, this range earlier also acted as a strong support base during its journey to ATH. The nearest support is now placed at $36.9K, the next support is presented by its 50-WEMA which is placed at $33.9K. On the higher side, the immediate hurdle is placed at $41K, once we get decisive closing above this level, the next significant level to watch out for is present at $43K, followed by $48K. On the Daily Time Frame, Bitcoin for the past 26 days has been consolidating in a narrow range of $34K- $40K. On June 14, BTC gave a close above $40K and is currently sustaining above that level, which depicts that buying momentum can continue in the coming sessions.
COINBASE:BTCUSD
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
Long-term forecast BTCUSDAfter analyzing the chart, I came to the conclusion that the trend of the uptrend in BTCUSD will continue to move towards the renewal of the historical maximum, as well as consolidation higher with subsequent growth. There are 3 trend lines on the chart: 1. The purple trendline is a mirrored trendline of both support and resistance, giving us insight into the boundaries of important historical BTC price movements. 2. The yellow trend line is the global trend of the corrective movement of the BTC price after the historical high with the current resistance formation. 3. The orange trend line gives us an understanding of the impulse of the corrective movement, and most importantly, with an un-updated LOW, it is powerful trend support in our situation. The idea of ​​creating this forecast arose from the movements of the chart from cycle to cycle, each cycle has a certain initial and final action. If we look at the chart, we will see vertical lines - these are the stages of cyclicality, which gives us an understanding of the beginning of the movement, as well as its completion with extinction at the end of the cycle. My vision is that at this stage of the market it is cycle 4, which does not lend itself to the analysis of horizontal support and resistance levels, but, as we see on the chart, there is an Elliott wave analysis, which gives us an understanding of the further movement of BTC. The upward trend of BTC will show its dynamics after January 2021. According to the current forecast, we can see in this period the formation of a new historical maximum, as well as the price fixation in this range. The example shows the Elliott impulse wave, which reflects my vision of the market. Z1 is the global momentum level for the general direction of the market. When the price approaches from top to bottom to the level border, we open a long position in LONG. Z2 is the mid-term level of the impulse of the corrective movement. When the price approaches from top to bottom, it also gives us a signal in LONG. This forecast proposes to open LONG positions only on corrective movements and focus on the plotted levels. Closing short-term positions (in the current cycle, yellow and orange trend lines) are used to place STOP orders, as well as the Elliott wave line. (the graph of the Log mode (Toggle Log Scale), which switches at the bottom right) Like? Comment?
BITSTAMP:BTCUSDLong
by investlab
Bitcoin: Not enough room on the upsideBitcoin: Not enough room on the upside Manoj B Rawal Manoj B Rawal BTC rallies hard overnight, fails to carry forward. Not enough room on the upsdie for BTC bulls. Bitcoin, the poster boy of cryptocurrencies, rallies for good overnight to give some hopes to the bulls that the black days of the past may be coming to an end finally. But bulls lack enough ammo to carry it beyond a barrier that needs for long term rallies. BTC/USD is down 3 cents of a percent at $3,610 and trading in less than 1 percent range for the day in a low volume, lower volatile weekend trading. Volumes are a key thing when prices rally and a key thing for a resumption of bull market. On the 720-minute chart of the largest crypto, BTC faces a barrier around $3,878 in the form of a descending trendline which won't be easy for the bulls to go past without higher volumes.
COINBASE:BTCUSD
by ShukriMahadi
Weekly BTC-USD(1 November)Bitcoin closed the October month on positive sentiment, it appreciated by ~40% and formed a strong bullish monthly candle with a new ATH of $66,999. However, on the weekly TF, BTC has been trading in a sideways trend in the range of $58K to $64K from the last three weeks. The overall structure is still looking positive and further buying strength is most likely to continue in the coming weeks, but small corrections or cooldown periods will continue to emerge as we move to the higher unchartered territories. The recent rally is supported by institutional buying and not only by retail users and this can be seen by the fact that there is no major dump in the prices after making a new ATH. On the lower side, the nearest support is present at $59K followed by the major support at $55K. As per the Elliott Wave formation, it seems BTC has already completed its third wave and is now on its way to complete 4th correction move, but the way it is sustaining above $60K, it seems bulls are in no mood to close the weekly candle below $60K which give quite a bullish outlook moving forward. On the higher side, the immediate resistance is present at $64K, once we have a decisive closing above this level, the next potential target would be $66K followed by $68.5K.
COINBASE:BTCUSDLong
by TradeDog-Research
Analysts hold their $250K Bitcoin price target even as BTC fallsData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $59,930 on Bitstamp, down another 6% on the day.A rebound took the pair back above the $60,000 mark, but caution remained the name of the game as the week saw the price slide below $61,000."Was watching that $64K zone as a crucial level to break and the market has failed, so a corrective move is taking place," Cointelegraph contributor Michaël van de Poppe summarized the situation."Overall; looking at $56–$59K as a good spot to buy Bitcoin."The previous all-time high at $64,900 turned out to provide little by way of new support, instead becoming more of a repeat resistance zone as bulls had little luck securing their newly-won gains.Optimism, as is customary, came only from those adopting a longer-term perspective. Among them was popular Twitter analyst TechDev, who stressed that 2021 was still conforming to historical bull market trends."Final BTC impulse has ALWAYS been five degrees steeper than the run-up to the mid-cycle peak," he noted alongside a comparative chart."Holding true so far. If it continues, and the $228K–$250K window is hit (two most historically reliable fib-based targets)... It would happen end of Jan. Will be interesting to watch."
BITFINEX:ETHUSDLong
by Heather61534
1
Bitcoin/USD is still bearish or right time to buy ?Hi everyone lets discuss BTC/USD scenerio, as you can see in chart we have complete (1),(2) and (3) wave in INTERMEDIATE DEGREE , Currently in (4) wave. In (4) wave we have complete two legs which point A and Point B wave, If you are familiar with neowave, it consist of atleast 3 corrective wave. From around this area we are looking for point C which can go easily upto 52000 level. Also there are chances that there can be more corrective legs like D and E. After this corrective price action we will be looking for an (5) wave in intermediate degree. This intermediate degree waves started at 66000 , see that trading idea also so that you can see how far we can hit the target with wavees structures. T hankyou Manish Singh Wave Forecast
COINBASE:BTCUSDShort
by Neowave-forecast
Btc bitcoin all time high new target long term horizonHi traders as you can see we've flag pattern in weekly time frame in btc usd Bitcoin seems to be more and more in news nowadays as it is almost all time high level. And consolidation in this area is very good for fruitful breakout. As new buyers won't got their desired profit and sellers are afraid of thier big loss so when they squareoff their positions there is good breakout always. Lets see this view is my personal and educational purpose only.
BINANCE:BTCUSDLong
by ravi229