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BTC trend change in weekly time frameBTC/USD weekly chart. It has entered uptrend. EMAs show trend change to positive. The Blue line is an important trend line. Cup an Handle break out has already happened. Now resistance will be seen at the red line and support at the green line. These levels may seem far apart but the volatility of the crypto market warrant us to keep deeps stop loss levels. Disclaimer: This is not a recommendation. Do your own research before investing.
COINBASE:BTCUSDLong
by mkmunir3
BTC/USD - Weekly OverviewThe past week for Bitcoin started off with a positive note as the price level tested the crucial resistance mark of $20K. However, as the level was trading above $20K, a strong profit booking momentum was observed which brought the strong support of $18K into play. nThe support level did again provide the much-required bounceback and the current level is trading between 0.786 FIB level to 0.618 FIB level based on the Fibonacci retracement. Above the 0.618 FIB level, there’s a strong resistance zone for the world’s largest cryptocurrency which it needs to break above and maintain price sustainability at the same time. One of the possible hints for an upcoming bullish trend in the short-term could be the positive crossover of MA-10 against MA-20. However, the crossover was just witnessed on the chart and has the possibility of forming a divergence too. The MACD level remains below the histogram which indicates that the buying volume might not be humongous considering the height of green bars formed. However, the RSI level has broken above the temporary resistance formed on the chart. It’s currently residing at 59.44. Overall, BTC might be heading to retest the resistance level present at $20K and $21K thereafter. In case of a turn of events, the crypto king can have support placed at $19K and $18K
COINBASE:BTCUSD
by TradeDog-Research
BTC/USD - Weekly OverviewThe past week had a quick change of sentiments as the world’s largest cryptocurrency is back again above the crucial psychological mark of $20K. The price level did make a weekly low of around $18.5K Currently, the price level is testing both MA-100 and MA-200. However, the alarming aspect is that MA-50 is still showcasing negative nature which might hint that a routine correction might be on the way The RSI also supports a similar sort of hypothesis as the level is near the overbought region and can face quick retracement. MACD level has finally started to formulate green bars and broke above the histogram for the first time this month. Overall, Bitcoin has showcased a positive rally in this month and a profit booking momentum can be expected in the upcoming days. Support levels can be placed at $20K and $18K whereas the resistance levels can be placed at $23K and $25K.
COINBASE:BTCUSDShort
by TradeDog-Research
BTC/USD - Weekly OverviewOver the past week, Bitcoin has formed a rising channel pattern, indicating that positive momentum is building up. After consolidating between the price range of $18K-$22K, the price level had a positive breakout above the resistance level of $23K and sustained it as well. The positive crossover of MA-10 against MA-20 is another bullish signal currently present. However, the price level sustainability above MA-10 looks vulnerable. The RSI level also sustains well above 50, indicating that bulls are in a stronger position. The MACD level is also hovering above the histogram while forming green bars. However, it looks vulnerable to a bearish crossover on a shorter timeframe. Overall, the resistance levels can be placed at $25K and $27K, respectively, while if the market sentiment turns negative, support levels can be set at $22K and $20K.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewThe world’s largest cryptocurrency has developed strong sustainability above the crucial support level of $28K. This certainly indicates that price level might avoid further downfall. The current trading session is looking in potential to form a bullish engulfing candle which may provide bullish breakout among moving averages in future The MACD level is also showcasing positive nature below the histogram. Green bars are also formulating which may indicate bounceback of level above the histogram. Overall, support levels can be placed at $28K and $26K respectively. If the bullish momentum is sustained, resistance can be placed at $32K and $34K.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC - USDMore the federal reserve sucks dollars, more the countries will spill out dollars in phased manner. Weekly chart is in channel. So pullback expected till middle band of channel. Green Line on chart is big technical support. Pullback also expected due to 38.2% level. ( OR 50% level ) Rise in crude prices creating dollar demand, so BTC is not rising very fast. Nuisance power of war was limited and already factored in till now. Wait few weeks for investment in BTC. Big bankers will not allow cryptos to grow unless they figure out way to capitalize them maximally.
BITSTAMP:BTCUSD
by hihello007
BTC/USD - Weekly OverviewThe past week continued to face the wrath of bears as Bitcoin traded within the falling channel pattern formed on the chart. The current level is looking at the potential to form a fourth lower high within the downtrend. However, a positive breakout above the 0.382FIB level can be a momentum breaker and bring back positive sentiment for the world’s largest cryptocurrency. On the Fibonacci retracement table, the weekly fall started at 0.618FIB level, took a breather at 0.382FIB level but currently looking vulnerable to test the crucial support at 0.236IFB level. The MACD is moving well below the histogram. However, a bullish crossover has just formulated on the chart which hints at a potential bounceback.
by TradeDog-Research
BTC/USD - Weekly OverviewThe world’s largest cryptocurrency has once again become a victim of a strong consolidation range between $37K to $45K. The breakout above $45K during the start of the month gave positive hopes to the investors. However, the following retracement forced the price level to drop below $40K. The contraction in Bollinger Bands suggests that we are poised for another phase of consolidation with the price level taking support at lower basis (38154.49). The upper basis (43498.16) of BB has also entered the consolidation range which is not a positive signal. On the 8H timeframe, the chart reflects upon retracement faced by price level after testing the resistance at 0.382FIB level followed by negative crossover against all major EMAs. This may indicate that BTC might take a breather as the major support of $37K is coming into play. The MACD levels also do not showcase a positive scenario for BTC. The levels are unable to move above the median line and currently forming red bars. This indicates that we can face a further downtrend in the upcoming trading sessions.
COINBASE:BTCUSD
by TradeDog-Research
BTC/USD - Weekly OverviewThe bulls extended their support for the world’s largest cryptocurrency while maintaining positive performance for consecutive weeks. Moreover, the current price level is finally above the major resistance level of $45K and EMA-200 which could further drive the bullish momentum. The price level also had a positive breakout from the rising channel pattern depicting high volatility but on the positive side as of now. EMA-20 is in the potential to have a positive crossover against EMA-100 after a successful positive crossover against EMA-50. On the Fibonacci retracement table, the price level has gone above the 1.00FIB level after a couple of months from its monthly lows. This further suggests that if BTC is able to maintain sustainability above the mentioned FIB level, we could expect it to test the psychological mark of $50K. The next hurdle for the bulls can be placed at $48K followed by $50K. However, if the existing volatility turns negative, support can be placed at $45K and $42K respectively. The Bitcoin fear & greed index has now moved to the greed sentiment while the value reaches 60. This indicates that the overall market conditions can expect new participants and holders to take entry.
COINBASE:BTCUSDLong
by TradeDog-Research
BTC/USD - Weekly OverviewFrom the past week, Bitcoin price level didn’t offer much to the investors and has formed a strong consolidation range. The world’s largest cryptocurrency is said to consolidate between the price range of $37K to $40K. On the Fibonacci retracement table, the mentioned range is placed between 0.382FIB level to 0.5FIB level. The price level is having a strong support zone around $37K which is placed at 0.236FIB level. Due to the ongoing consolidation phase for BTC, it is unable to sustain above the EMA-20 ($38,975.66). The CMP recorded ($39,085.78) is looking for sustainability above EMA-20 and can be a bullish signal if able to maintain the same.
COINBASE:BTCUSD
by TradeDog-Research
BTC/USD - weekly Analytics + Altcoins 31.01.2022Investor sentiment is at pessimistic levels, which indicates either market lows or a near-term reversal of quotes. At the moment we consider two scenarios of the situation development: 1. an impulse ascent of the quotes from the current levels, the confirmation will be the growth above the level of $43,000. 2. renewal of the minimums around $25,000 and impulse return above $30,000, which will be the confirmation of the trend change to the bullish level. In our opinion, the renewal of the growing trend is coming, the only question is to determine the minimums of the correction that began in April 2021.
by Yosu_Fund