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#BTC/USDT Poised for Another Retest: Key Levels to Watch#BTC/USDT Analysis: Bearish Divergence and Decreasing Volume Indicate Potential Retest Levels #Bearish Divergence A bearish divergence occurs when the price of an asset is making higher highs, but the underlying technical indicator (in this case, the Relative Strength Index, or RSI) is making lower highs. This discrepancy suggests that the bullish momentum is weakening and a potential reversal or pullback could be on the horizon. For #BTC/USDT, we've identified a bearish divergence forming on the daily chart. Despite Bitcoin reaching new highs, the RSI is not confirming this upward movement, indicating that the buying pressure is not as strong as it appears on the surface. #Decreasing Volume In addition to the bearish divergence, we are also seeing a significant decrease in trading volume. Volume is a critical indicator of market strength; decreasing volume during an uptrend suggests that the momentum is fading. This declining volume trend can signal a lack of conviction among buyers and potentially foreshadow a price reversal or retest of lower support levels. #Potential Retest Levels Given these technical indicators, it is likely that BTC/USDT might take a retest at certain key support levels: 1. **Retest Around $63,500** - This level has previously acted as a strong support, and if Bitcoin's price retraces, it is likely to find initial support around this area. If the price manages to hold at $63,500, we might see a bounce-back, providing traders with a potential buying opportunity. 2. **Retest Around $61,000** - If the $63,500 support does not hold, the next significant support level to watch is around $61,000. This level has historical significance and could act as a strong support. A retest around this level would provide a crucial juncture for BTC/USDT, determining whether it will consolidate or continue its downward trend. #Trading Strategies - **Cautious Approach**: Given the bearish divergence and decreasing volume, traders might consider a cautious approach, reducing their positions or waiting for confirmation before entering new trades. - **Stop-Loss Orders**: Setting stop-loss orders just below the identified support levels ($63,500 and $61,000) can help mitigate potential losses in case of a further downturn. - **Watch for Confirmations**: Look for confirmations such as bullish reversal patterns or increasing volume at support levels before considering long positions. #Conclusion #BTC/USDT is currently showing signs of potential weakness with bearish divergence and decreasing volume. Traders should be prepared for possible retests at $63,500 and $61,000. Monitoring key technical indicators and market sentiment will be crucial in making informed trading decisions during this period.
BINANCE:BTCUSD.P
by crypto_vulture_signals
BTCUSD again ready for fall On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
COINBASE:BTCUSD
by JaiPrakashShuklaHarmonicTrader
Bitcoin Price: Is a $70K Milestone in The Loop Amid CPI Data?Bitcoin Price: Is a $70K Milestone in The Loop Amid CPI Data? According to The Block, Spot Bitcoin ETFs have experienced a significant influx of funds, with a $302 million investment surge spearheaded by Fidelity's FBTC. As per data by Lookonchain, a whale accumulated 102 BTC worth of $6.72 M adding to a total of 3,385 BTC since march. Yesterday's inflation report from the U.S. sparked optimism across the market, leading to a significant rally in major cryptocurrencies. Bitcoin, the leading digital currency, experienced a notable 7.50% increase, reaching $66,350 and breaking through the key $65,000 threshold. Additionally, the release of milder-than-expected U.S. CPI figures prompted widespread short covering, resulting in a sharp uptick in the cryptocurrency markets. The Consumer Price Index (CPI) data indicated a 3.4% increase, slightly down from the 3.7% figure published in March by the U.S. Bureau of Labor Statistics (BLS). Looking forward, the question arises: Is this a definitive trend reversal for Bitcoin, or merely a temporary surge? Let's have a closer look on all these taking into account all the other metrics. Bitcoin ETFs Inflows Hits Record 2-Week High! Bitcoin Exchange-Traded Funds (ETFs) have recently seen a substantial influx, with investments nearing $303 million, equivalent to 4600 BTC. FINAL 5/15 U.S. Bitcoin ETF inflows of +$303 million (4,600 BTC) pic.twitter.com/dAX2mcgGe8— HODL15Capital 🇺🇸 (@HODL15Capital) May 16, 2024 Following a 7% increase in Bitcoin's value after the release of U.S. inflation figures, Bitcoin ETF inflows reached a two-week peak. Fidelity's FBTC led the charge with a $131 million investment, marking its most significant influx since March. In addition, Bitwise's BITB experienced an $86 million investment, while BlackRock's IBIT did not record any new investments for three consecutive days. These developments suggest an emerging demand that could potentially elevate Bitcoin's price beyond the $70,000 mark. This whale bought another 102 CRYPTOCAP:BTC ($6.72M) 8 hours ago.He has accumulated 3,385 CRYPTOCAP:BTC ($232.15M) since Mar 6, with an average buying cost of $68,579.At the current price, there is still a loss of $8.08M.Address:bc1qag725vjxxpkkl5gshfkye9xn4p5vklrlhgkw5w pic.twitter.com/k3HbqBDj3g— Lookonchain (@lookonchain) May 16, 2024 Moreover, data from Lookonchain indicates that a significant Bitcoin investor, identified by the address bc1qag725vjxxpkkl5gshfkye9xn4p5vklrlhgkw5w, has purchased an additional 102 BTC valued at $6.72 million. Since March 6, this investor has amassed a total of 3,385 BTC, worth approximately $232.15 million, with an average purchase price of $68,579. This activity underscores a robust buying trend among large-scale Bitcoin holders. Bitcoin Price Outlook: How hard Is It Bulls to Conquer $70,000 Mark? The softened inflation figures have provided some relief to investors, as Bitcoin has shown resilience against further declines. Nonetheless, the path upward appears challenging, with the price persisting within a parallel channel pattern evident on the daily chart. The recent price movements indicate that Bitcoin has bounced back from the channel's lower edge and is now ascending towards the upper edge. It will be intriguing to observe Bitcoin's behavior upon reaching this upper limit. Should Bitcoin break through the channel's confines, it could confirm the onset of a bullish trend, potentially propelling the cryptocurrency to unprecedented highs. Conversely, if Bitcoin struggles to breach the upper edge, it could be a precursor to further corrections in the near future. Conclusion. Yesterday's U.S. inflation report, showing a CPI increase of 3.4%, sparked market optimism and led to a rally in cryptocurrencies, with Bitcoin rising 7.50% to $66,350. This surge surpassed the psychological level of $65,000 level. Moreover, Bitcoin ETFs also saw a major influx of nearly $303 million. Despite this, Bitcoin's price movement within a parallel channel pattern suggests uncertainty. If Bitcoin breaks above the channel, it could signal a bullish trend towards new highs. However, failure to surpass the upper boundary might indicate impending corrections.
BINANCE:BTCUSDLong
by Ritika_TCR
1
Bitcoin Support&Resistane levelsObserving a downward channel pattern in the 4-hour timeframe for Bitcoin, with a breakout and subsequent retest indicating a potential continuation of this pattern. Based on this analysis, anticipate immediate resistance levels around 66500 to 66800 to be tested. Additionally, if you measure the length of the channel, it's approximately 8000 points, suggesting a potential continuation of this pattern. it appears that Bitcoin may continue its downward movement in the short term, with resistance levels around 66500 to 66800 being important areas to watch for potential price action. However, it's essential to consider other factors such as market sentiment, news events, and broader market trends that could influence Bitcoin's price movements. Additionally, risk management strategies should always be employed when trading or investing in volatile assets like Bitcoin. Immediate Resistance Levels (66500 to 66800): These levels are crucial as they represent areas where selling pressure might increase, leading to potential price reversals or consolidation. Traders could consider short-term selling opportunities or profit-taking strategies if Bitcoin approaches these resistance levels. Keep a close eye on price action around these levels for signs of bullish exhaustion or strong selling pressure. Support Levels: Identify key support levels within the downward channel where buying interest might increase, potentially leading to temporary price bounces or reversals. Previous swing lows, psychological price levels, or Fibonacci retracement levels could serve as potential support zones. Traders could consider initiating long positions or scaling into existing positions near these support levels, with appropriate risk management strategies in place.
BITSTAMP:BTCUSD
by rakeshreddym
4
Bitcoin Bybit chart analysis May 16Hello 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. Bitcoin 30-minute chart. There is an indicator announcement at 9:30. After first touching the lower Bollinger Band, It's going sideways. On the signal, before and after the MACD deadcross on the 2-hour chart The position is a bit ambiguous. Because it is a position with a high possibility of sideways movement. Today, we will operate safely without greed. *Red finger movement path Long position strategy 1. $65,426 long position entry zone / stop loss when breaking out of the light blue support line 2. $67681.5 long position 1st target -> Good 2nd -> Great 3rd target In the case of Tether dominance, depending on today's movements The mid-term downward pattern may be broken. The beat should be stronger than the top section. It is possible to break the mid-term downward pattern. If the purple support line is maintained, Strong rising section Section 1 is a section that traverses downward to the right. If possible, within the green support line without touching this section. It would be good if you protect it. Please keep in mind that my analysis up to this point is merely for reference. Please operate safely with principled trading and stop loss required. thank you
BYBIT:BTCUSD.PLong
by BitCoinGuide
2
Bitcoin Bybit chart analysis May 14Hello 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. Bitcoin 30-minute chart. There are two Nasdaq indicator announcements tonight at 9:30 and 11:00. Powell's speech is at 11 o'clock. There appears to be some movement. Also, the sudden rebellion of the afternoon beat? As the decline occurred once, I was really worried. When I looked at the movement yesterday, I finally saw an upward movement. My current position is a double-edged sword. Also, some patterns are broken due to the afternoon movement. Because 4+6+12 MACD deadcross is in progress. There is a possibility of a sharp decline or a gap reversal at the bottom. It is a very high position. From my point of view, it is a very disappointing position. The same goes for Nasdaq movements. I decided that it was too early to give up, so I hesitated. Anyway Unless there is a gap retracement today There are conditions for it to rise again in the medium term. When looking at Tether Dominance, from the current location The beat is a bit difficult to short. (There was no clear short position after the vertical decline) Everyone knows that it is a place where there is a long wait in the Gap section. I feel uneasy because it seems like it will go up if we ignore it... This is the strategy for that part. *Sky blue finger movement path Two-way neutral Short->Long switching strategy 1. Short position entry zone at $62432 / Stop loss when the orange resistance line is broken 2. Long position switching at $61594 / Stop loss when the green support line is broken At the top, $63,147 long position 1st target -> Top 2nd -> Good 3rd Today, if we just maintain the green support line without breaking away, It's the best If the strategy is successful, the likelihood of a strong rise after tomorrow increases. When adjustments are made immediately at the current location Please refer to the support line indicated at the bottom. at the current location The highest probability is Gap retracement -> The next one is $59,164. I hope the strategy is successful based on the daily candle tails. Why am I so obsessed with this section? Please refer to the video later. Of course, without leaving the purple parallel line. There may be a strange rebound, but Because the NASDAQ variable or probability is very low We proceeded realistically. Because tomorrow is a holiday, If you drag the chart up and down, I have also left you with the main support and resistance prices. I think it would be a good idea to check it out. Please note that my analysis up to this point is merely for reference and use. I hope you operate safely with principled trading and stop loss required. thank you
BYBIT:BTCUSD.P
by BitCoinGuide
2
the Bitcoin asset price could bounce backThe BTC after the rally, had ended up in a wedge. However, Bitcoin has revealed a sign of recovery as the price has spiked from the wedge's bottom trendline and has been consolidating at a crucial support level of around $60,000 on the daily chart. If the BTC crypto manages to surpass the wedge's above trendline with a thrust, it could set for a colossal surge, which could end up in the breakout of the falling wedge. This would gear up the rally to crack the resistance level (like $65,480, $67,500, and $72,470) and could also rocket to new peaks. At press time, the BTC crypto is experiencing a fall of -1.70% in the last 24 hours, trading at $62028.3. Therefore, if the demand rises, then the Bitcoin asset price could bounce back from the current level. However, if the BTC crypto price fails to stay above the $60,000 price level, it could start to decline further and could attempt to lower toward the major $50,000 support level.
OANDA:BTCUSDLong
by Sam_TCR
Bitcoin Bybit chart analysis May 13Hello 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. Bitcoin 30-minute chart. There is no Nasdaq indicator announcement today. A section where everyone can be scared due to last week’s decline. I reached a similar position again. Let me summarize it simply and clearly. Based on Bollinger Band 4-hour chart If you look at the section that fell vertically in the candle on April 30th, It’s similar to your current location, right? The other part is the signal, daily chart Bollinger Band after 2nd and 3rd touch. The center line trend direction is different. With the movement last Friday, All conditions for ascent have been created. Instead, there is a candle tail shape on the left. 30-minute, 1-hour, 2-hour charts Ichimoku Balance Table Yangun When looking at the thickness When it breaks away from the purple support line It's a crash. Because it is also viewed as upward on Nasdaq. If you are overwhelmed in a battle of momentum, you will decide that you cannot make a profit. I set a short stop loss and operated aggressively. *Red finger movement path Long position strategy 1. $62526.5 long position entry area / stop loss when breaking away from the purple support line 2. $64,418 long position primary target -> Top secondary target I thought a lot about whether to pursue it or not. Based on the current Bollinger band From 9 o'clock, when additional candles are created for the 6-hour and 12-hour charts, A movement that cannot be overcome by a single candle Because a breakout is possible from additional candles You can view it as a strategy for rising waves after 9 o’clock. Section 1 at the top is angled upward to the right. Number 2 at the bottom is toward the right. Below that, Gap -> Section 3 is a safe support line with an intermediate perspective. Please note that my analysis up to this point is merely for reference and use. I hope you operate safely with principled trading and stop loss required. thank you
BYBIT:BTCUSD.PLong
by BitCoinGuide
#BTC/USDT Bulls Gather Momentum: A Potential Price Surge AheadThe #BTC/USDT pair has recently undergone a significant event, testing a key trend line and subsequently bouncing from it. This bounce has coincided with the formation of a bullish divergence, indicating a potential trend reversal and the beginning of a bullish phase for Bitcoin. The current price action suggests that #Bitcoin is now poised to retest three critical resistance levels at $62600, $67200, and $71000. If these levels are successfully breached, it could pave the way for a move towards the $85,000 target. The successful breakout above these resistance levels would confirm the strength of the bullish momentum and could attract further buying interest from traders and investors. However, it's important to monitor the price action closely, as failure to break above these levels could lead to a continuation of the current consolidation phase.
BINANCE:BTCUSD.PLong
by crypto_vulture_signals
BTC (waiting for confirmed entry)(MID TERM)(02-05-2024)Go through the analysis carefully, and do trade accordingly. Anup 'BIAS for Mid term (02-05-2024)(MID TERM) Current price- 58800 "if Price stay above 56300 then next target is 58900, 61300 and below that 52000. -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk 2% of principal to follow any position. Support us by liking and sharing the post.
BITSTAMP:BTCUSD
by AnupZiddi
4
Bitcoin Bybit chart analysis May 10Hello 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. Bitcoin 30-minute chart. Nasdaq is trending upward. Beat is debating whether or not to break the record. I'm more loyal than I look... Purple finger on the left, $63,035 I tried to connect it to the strategy of those who switched short yesterday. *Red finger movement path Long position strategy 1. $62,734 long position entry zone / stop loss when breaking out of the green support line 2. $63709.5 long position 1st target -> Top 2nd target -> Good 3rd target As I focus on strategy, Because I was scared of variables, the number of targets at the top decreased a lot. Top or above is a position that can be sufficiently promoted. It is better to touch the long position entry section of $62,734 as late as possible. For example, after the MACD deadcross was imprinted on the 1-hour chart. If the green support line continues to be maintained somehow, The upward trend may continue. Section 1 at the bottom is a sideways road sloping upward to the right. First of all, the biggest problem last night was The 12-hour, daily chart MACD deadcross was ignored. In Tether Dominance, we implemented a strategy with a vertical decline condition. An additional daily candle is created today, provided that the daily low is not broken. I bet on the rising wave. If Nasdaq shows a strong or vertical rise, Your strategy is more likely to succeed. finally , If the strategy is successful, those who went long yesterday will Including entry into existing altcoins Boarding the automatic rice cake train is complete. If you drag up or down the chart, You can check major support and resistance prices, so make good use of it. My analysis up to this point is for reference and use only. I hope you operate safely with principled trading and stop loss required. Thank you for your hard work this week. Have a nice weekend everyone. thank you
BYBIT:BTCUSD.PLong
by BitCoinGuide
Bitcoin AnalysisPrice is forming Flag and pole pattern on weekly charts with one shakeout on down side Hidden RSI divergence might help the bounce if any Relative strength is still very strong compared to SPX But on Volume profile we can see VAH acting as resistance Indicators and price suggests bullishness but volumes are against it breakdown of channel low and 21ema will push prices downside whereas on upside a break of VAH and AVWAP is required for price to regain its strength
COINBASE:BTCUSD
by trendtrader06