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Decoding, What BTC Can Do Next & How? The BTC on the daily chart has dropped significantly from an ascending wedge a week ago and has slipped two critical supports at $60278 and $56393 quicker in the past 24 hours, breaking the 200-day EMA. As of writing, it hangs over a historical demand zone, where it traded at $51928 with an intraday dip of 11% on the daily chart. Breaking this would lead to $47361 and $43217, respectively. Moreover, a look at the monthly TF chart, the BTC price had an ascending wedge in play. Where the price has been deflected from the upper border of the channel, causing the plunge. In the past activity, it has been witnessed that the channels' middle line has shown previous comebacks in price, and recently, it has reached near this dynamic trendline. Based on potential buyers' interest, this trendline could hold and bounce back. But if the seller's dominance accelerates, then deterioration would lead to a severe crash, making it a resonating crash globally in the crypto realm. Over the daily, the indicators are all red and displaying further bearishness, as 50-day and 200-day EMA have been pierced down. The MACD showed a bearish cross with a broadening histogram downwards at 1542.02. However, the loss of strength in price dip has been observed by RSI, as it has entered extremely oversold territory below 30 at 23.61. Since RSI has been oversold, there happens to be a good probability for BTC to rise. Therefore, if it bounces back, then the hurdle would lie at $53614, $56393, and $60278, respectively.
COINBASE:BTCUSDLong
by Sam_TCR
Bitcoin Bybit chart analysis August 2Hello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. Here is the Bitcoin 30-minute chart. First, since it has come down to the desired level on Nasdaq, I created a strategy based on the Tether Dominance Double Top. The purple finger on the lower left is the final $62,583 long position entry point yesterday. *When the red finger moves Long position strategy 1. $64,085 long position entry point / cut-off price when the green support line breaks 2. 66,522 long position 1st target, target price in the order of Good -> Great during the weekend No. 1 on the top is today's best short position entry point No. 2 on the bottom is the sideways movement point, and when it breaks it will reach the double bottom point No. 3. 3 is the section that is not broken through when maintaining the double top in Tether Dominance, and the bottom section is the daily chart Bollinger Band support line, and everyone knows it and everyone is waiting for it. I used the strategy for the red finger in the middle wave, and when cutting losses, you can do a final long wait at 3 or the bottom, right? Up to this point, please use my analysis as a reference and only operate safely with the 6 principle trading + stop loss price. Nasdaq is really a tough friend. It's hot, so you worked hard this week too. Thank you.
BYBIT:BTCUSD.PLong
by BitCoinGuide
BITCOIN HEADED TO 50K ? - CRASH SOON ?Symbol - BTCUSD CMP 60700 Bitcoin is testing the previous major liquidity area which is around 59300 - 61000. Earlier it was consolidating around 65K levels & was trading in a range. Now it is witnessing a huge profit booking and declining sharply towards the liquidity area. A retracement towards 62000 - 62500 is likely. In any case, If it is breaking 59000 level and sustaining below it then it may directly head to 50-51K which is next major support. A double top pattern is visible on larger time frame. Breakdown of this pattern will lead to trend change/reversal. Hence breakdown of the neckline & sustaining below it will activate this double top pattern & then it will definitely test 51K level & then may touch 45K levels too. P.S. : I'm actively tracking BTCUSD to make long positions around this liquidity zone to play a retracement & then I'll be looking to short around 62K levels with small SL & will add more position on breakdown of liquidity zone/neckline.
OANDA:BTCUSDShort
by akshit_official
2
Why crypto market is down today 08/05/2024?The cryptocurrency market is experiencing a downturn today, August 5, 2024, with Bitcoin showing significant declines. Here are the key points explaining the current situation: Bitcoin Price Drop: Bitcoin has fallen approximately 7.92%, trading around $55,919.76, and recently dipped below $56,000, marking a notable decrease from its previous levels. Market Trends: The decline follows a broader trend observed at the start of August, where cryptocurrencies faced downward pressure due to disappointing economic data. This data raised concerns about a potential recession in the U.S., which has affected investor sentiment across risk assets, including cryptocurrencies. Economic Indicators: Key economic indicators contributing to the market's decline include a decrease in manufacturing activity and an increase in unemployment claims, which have heightened fears among investors. Overall Market Sentiment: The cryptocurrency market has been volatile, with August typically being a slower month for trading. Despite recent gains, the losses today have erased a significant portion of the positive momentum built in July. In summary, the combination of economic concerns and a general trend of volatility in the cryptocurrency market is driving the current downturn in Bitcoin and other cryptocurrencies.
CRYPTO:BTCUSDShort
by TradeMing
Bitcoin 4H Swing Setup - Bitcoin is now down 15% from its recent swing high - I have drawn 2 Price Paths for Bitcoin - The first price path describes how Bitcoin can soon run up clear the Fair Value Gap and then pierce 60k and bounce from 56-58,000$ - The second price path describes how Bitcoin can soon run down grab liquidity from 56-58k and then move up towards 64k - Bitcoin is currently sitting in a no-trade zone even if you are looking for longs or shorts make sure your leveraged positions are carrying a calculated risk
BITSTAMP:BTCUSD
by VKtradesimbalance
Bitcoin Bybit chart analysis July 31Hello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. This is the Bitcoin 30-minute chart. Today at 9:15, FOMC indicators will be announced at 3:00 AM. The Nasdaq will end with an upward rebound without a Gap reversal, and the Bitcoin daily chart MACD dead cross will be imprinted today while moving sideways. In the lower left corner, the 3rd section of yesterday's analysis article After entering the long position at 65,323.5 dollars with the purple finger, we will continue the strategy. *When the blue finger moves, it is a two-way neutral long -> short -> long switching strategy. 1. 65,937 dollars long position entry section / stop loss price when green support line is broken 2. 67,367.5 dollars short position switching / stop loss price when light blue resistance line is broken 3. 66,664 dollars long position switching / stop loss price when green support line is broken (After additional daily candles are created tomorrow, check if MACD dead cross is imprinted and then do the final long switch.) Currently, the Bollinger Band 30-minute chart resistance line has been touched and the short position operation section is until the pink resistance line is broken. For those holding long positions, you can operate at the stop loss price when the green support line 2 section at the bottom is broken. Up to orange resistance line 1 / green support line 2 at the top is a sideways section. The bottom has gone up but since additional candles on the 12-hour chart have not been created yet the shape of the support line after 9 o'clock is important. If you get off before 9 o'clock, look at it up to 3 times. If the support line shape is supported after 9 o'clock, You can see the bottom as a major support line. Up to this point, please use my analysis as a reference only. I hope you operate safely with principle trading and stop loss prices. Thank you.
BYBIT:BTCUSD.P
by BitCoinGuide
Bitcoin sell on rise profit booking will continue Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
COINBASE:BTCUSDLong
by JaiPrakashShuklaHarmonicTrader
Bitcoin Struggles to Surpass $70K, Yet Maintains a Positive StanBitcoin Struggles to Surpass $70K, Yet Maintains a Positive Stance Despite Bitcoin suffering from the psychological $70K level, The weighted sentiment curve is maintained above zero line indicating a positive stance. As the price slumped from the $70K mark, Bitcoin noted a $1.75 Billion outflow in the last couple of sessions. This month has been well so far for Bitcoin and cryptocurrency markets. Bitcoin started with a sharp crash towards the GETTEX:54K mark and in the 1st week followed by a strong rebound towards the $66K in the second week. However, the last two weeks saw a loss in momentum as Bitcoin attempted to surpass the psychological $70K level. A selling pressure towards the FWB:65K was observed as the price suffered from $70K level. Despite all, an on-chain metrics, weighted sentiment curve highlights of being in a positive territory indicating sign of optimism. Additionally, as the price suffered nearly 5% loss in the last couple of sessions, the open interest curve has also noted a significant drop of nearly $1.75 Billion. At the time of writing, Bitcoin was exchanging hands close to $66K recording a mild intraday loss of 0.24%. Open Interest Data Highlights A Short Term Profit Booking. DescriptionWith the recent drop in Bitcoin price, the analysts have noted a significant 12% change in the derivatives segment. As per the data reported by an on chain analytics website, open interest contracts have dropped from $14.5 Billion to $12.5 Billion in the last couple of sessions. Some analysts are correlating the recent drop in the number of OI data to a profit booking. The reason being that the BTC has made a sharp reversal from the GETTEX:54K to the higher supply of $70k thus gaining over 25% in just two weeks. Despite the profit booking in BTC the weighted sentiment curve has not withdrawn from the bullish territory indicating the presence of bulls in the market. on a closer observation, it was observed that the weighted sentiment has discouraged to some extent in the recent sessions, however, it still managed to maintain the bullish territory. The weighted sentiment curve highlights the overall biasness of the majority of the traders and investors whether it is bullish or bearish. Currently, the BTC weighted sentiment curve hovers above the zero line. Where is Bitcoin Heading Next? The daily chart highlights the formation of inclining parallel channel patterns with BTC price stuck between the upper and lower boundaries of the channel. The recent session has seen a loss of momentum in the bulls side, however BTC price still trades in a bullish territory. From a technical point of view, BTC price hovers above the key exponential moving average of 20, 50 and 200 days suggesting a strong control of the buyers. On the higher side, $70K level may act as a psychological resistance which if breached may unlock Bitcoin journey towards the record highs. On the contrary, a failure in the BTC price below the $62K may invalidate a bullish continuation and the price may again crash towards the $60K level. At the time of writing, The relative strength index (RSI) line was placed at 61.03 points whereas the 14 day SMA line was hovering near 56.37 points. Both the lines were placed above the mean line suggesting the price in a bullish territory.
COINBASE:BTCUSDLong
by Ritika_TCR
SELL BTCUSD 66100/200, SL 66400, TGT-65700/65300Hello my dear Followers as i see that in 15m chart i got here a sell call that target is 65700/65400, my last given buy call was something changed because market got changes to sweeping all liquidity from to it's bottom at 65300 below, than price will make another wave of correction of ABC, after that i will give you buy call, i have given last Buy call at 65800 and SL 65400, SO THIS WILL GET HIT SL so, don't try to buy if in 5m chart price get CHOCH AT 65800 THAN try to buy
CRYPTO:BTCUSDShort
by Forex_RajGuru
Bitcoin Bybit chart analysis July 30 Hello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. Here is the Bitcoin 30-minute chart. There is an indicator announcement at 11 o'clock on Nasdaq. Bit is under pressure from the MACD dead cross on the daily chart due to yesterday's movement, and there are many sections where the mid-term pattern is broken. There is no wave, and I came with a one-way strategy at the exact middle point. *When the blue finger moves, Bidirectional neutral Long -> Short switching strategy 1. 65,981.5 dollars long position entry section / cut-off price when the blue support line is broken 2. Sky blue finger at the top 68,082 dollars Long position 1st target -> 2nd -> Top 3rd target. (The reason I opened up to the Top section is the sudden rebound from the unjustified plunge that occurred yesterday) After reaching 68,082 dollars, Short position switching in the final 2nd section depending on the situation Stop section touches the cut-off price. If the short position switching is successful, The final long position switching section after tomorrow Check the remaining support line colors on the right I think it would be good to catch it together with me. I plan to proceed perfectly in one way only The blue finger movement path explained is the one-way section at the top. The 1st section at the top is the short position operation section in case of an immediate rebound from the current position, but if it breaks through as it is, you can wait for a short position in the 2nd section at the top. The orange resistance line and the 3rd section of the blue support line at the bottom are sideways. And, the Bottom section at the very bottom is the major support line 12 + day section that everyone knows and is waiting for As the difficulty of Bitcoin has recently increased, This easy position does not come down easily, and I think it needs to be shaken a little more to imprint the MACD dead cross on the daily chart at once. If you touch this section today and even if it rebounds, MACD daily chart dead cross can continue to press again after tomorrow, so please check the movement even if an additional daily chart is created tomorrow. It's been a while since I've published a full analysis article, how is the quality? I hope it will be of some help to investors. Up to this point, I ask that you simply refer to and use my analysis articles, and I hope that you operate safely with a principled trading and stop loss price. Thank you.
BYBIT:BTCUSD.P
by BitCoinGuide
2
BTCUSD SHOWING A GOOD DOWN MOVE WITH 1:20 RISK REWARD BTCUSD SHOWING A GOOD DOWN MOVE WITH 1:20 RISK REWARD DUE TO THESE REASON A. its following a rectangle pattern that stocked the market which preventing the market to move any one direction now it trying to break the strong resistant lable B. after the break of this rectangle it will boost the market potential for break C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward please dont use more than one percentage of your capitalfollow risk reward and tradeing rules that will help you to to become a bettertrader thank you
CRYPTO:BTCUSDShort
by tradergyan01
SELL BTCUSD 66500, SL- 67000, TGT-63500Hello my Lovely Followers this is my Finally analysis today, i have observed yesterday fall down with the Elliott Wave and i totally surprised that the final target is 61000, but right now i am considering first target 63500 and there is also a Block Order in 4h chart first we will get this target after that price when get correction with ABC wave than i will go further in down side. i am just seeing that in Daily chart with FVG value 62500 and second FVG Value is 60500 but price will try to get sweeping liquidity at 61000, in my view of points as the target level. But if candle closed below 63000 in 4h chart than market totally in down trend. but in my view of point market suddenly closed candle with a very high long wick in 4h chart candle at 62000. it will happen because all games depends only on liquidity sweeping.
CRYPTO:BTCUSDShort
by Forex_RajGuru