imvijaygir

imvijaygir

Non- Market factors affecting the BTC price US Govt has a holding of around 200,000 BTC worth $12 Billion. Yesterday (20-07-2024), they moved 29K btcs worth $2.02 Billion to another wallet and this was the major reason for this dip along with the highest resistance at around $70,000. There are speculations that the US govt. might sell these transfered BTCs just...

imvijaygir

I am sorry I could not publish charts for 2 days, however in my last update I had shared the zones to come. If you have read my last chart idea, you would knew what was going to happen. When I published my last chart we were at mark X, and I told you that there are chances BTC would move up and try to break the upper resistance and on failure it will retest the...

imvijaygir

With all the obstacles crossed, it looks like BTC is now ready to move towards $68,000 resistance. We have seen btc moving up taking the necessary correction with every step. For this final step under zone 1, btc has almost done taking the correction and soon will start to penetrate this level to move up now. It has already tried doing that multiple times in the...

imvijaygir

The market has been playing the same since the last chart. MA 200 has been a major support, did not let BTC price to cross it. Also sent pushed it up however as discussed in the previous charts " once a support is broken it becomes a resistance ", hence our level 2 which was previously a strond support has now become a strong resistance. MACD shows a loss in...

imvijaygir

So the market has liquidated both sides players and still going downwards even when it took support from the lower zone of point 2. The intersaction of MA 20 and 50 became its enemy and send it back to the 0.786 level of Fib just like we discussed in the last chart. The fib sent it back, and this time the level 1 acted as a resistance and btc failed to hold the...

imvijaygir

Bitcoin's weekly chart shows that we have hit a weekly resistance causing the price to slow down. Resistance is a zone where people take their profits and hence future traders believe it to be a good zone to short the assets. That is the reason why we saw a rise in bear activity on MACD, however their power has reduced. If you keep an eye on the news, we have...

imvijaygir

The chart is showing a lot of positive strength today. -On a 4 hours chart we can see the price has retested the support multiple time and has accepted it well. -100 MA is going to cross 200MA to upside which is also a positive sign. Small MA crossing a bigger MA and going up is always a good sign of momentum. - MACD showing decreasing bear power and should...

imvijaygir Updated 

Bitcoin has again fallen below the recent up trend line and the relation between price movement and the RSI in hourly chart of is falling apart. But it does not mean bulls are loosing their power. Everytime the price takes a rise, it has to either take a correction or consolidate in a particular zone to cool off or balance the RSI. Though it stands on the 100 MA,...

imvijaygir

Bitcoin is back in the uptrend crossing multiple Fib resistance. Latest $63,200 is a support now. RSI shows price cooling off, hence, there is ahuge chance we going to cross the FWB:65K in the next attempt in the nect 24-48 hours. Not just the 20 Moving Average but the trend line is also a support now. However MACD is showing a bit of bear movement but that is...