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Bitcoinanalysis

Bitcoin and 🚩Symmetrical Triangle🚩Hi everyone👋( I hope you had a great weekend ). As you know, trading volume is low on Saturdays and Sundays (generally). After breaking the 🟢 support zone($29,850-$29,480) 🟢, Bitcoin has started to form a Symmetrical Triangle Pattern this weekend. 📚The Symmetrical Triangle , which can also be referred to as a coil, usually forms during a trend as a Continuation Pattern . The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended, and the symmetrical triangle takes shape.📚 💡It is interesting to note that when Bitcoin hits the upper line of the symmetrical triangle pattern, the Volume of Trading is higher than when Bitcoin hits the lower line of the symmetrical triangle pattern. This happen shows us pressure of sellers is high. 🔔I expect Bitcoin to move towards the 🟢 support zone($28,450-$28,080) 🟢 ⚠️ after ⚠️ breaking the lower line of the symmetrical triangle . -------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Congressman Patrick McHenry: Bitcoin is a “Financial Revolution.” Robert Kennedy Jr. reveals buying 2 Bitcoin for each of his 7 children. 🌐➖ Negative News ➖🌐: A new law requiring USA citizens to report Cryptocurrency transactions above $10,000 is one step closer to being approved. -------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
64
How will the Candle of the current 6 Months be Closed❗️❓Hi everyone👋 (Reading time less than 5 minutes⏰) . Today I want to show you the 🎯 target 🎯 of Bitcoin for the next 5 months using the 6-month Bitcoin candles. ⚖️Bitcoin has created 6-month candles in the last 7 years, and if we look closely at these candles, we can see similar movements in them.⚖️ ⚖️I divided the 6-month candles into 5 similar movements.⚖️ ⚖️The first movement consists of three candles, which showed an upward movement before the start of the correction, which are similar in both periods of the first movements.⚖️ ⚖️In the same way, the next candles had similar movements.⚖️ ⚖️If the fifth movement wants to be similar to the fifth movement of the previous movement, the candle of the current 6 months has to close in red, and 50% of the fourth movement should have a minimum decline (about $22,780) .⚖️ 🔔As a result, I expect Bitcoin to drop to at least $22,780 in the next 6 months. It is interesting to know that this analysis is similar to my previous post on "Bitcoin 🗺️Road map🗺️for 300 Days Before Halving 2024❗️"It is compatible; I recommend you to read the following post as well.👇 Bitcoin Analyze ( BTCUSD ), 6-months time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
BITSTAMP:BTCUSDShort
by pejman_zwin
24
$BTC -Range Bound *12hr- CRYPTOCAP:BTC continues trading within a Tight Range of 2K, dancing tango with range's bottom and ceiling, until it doesn't. 40.000$+ per #Bitcoin is not as far fetched from here, all Bitcoin gots to do is break current range to the upside before resuming higher. Besides that, the awaiting Feds Rate Hike decision will impact direction of CRYPTOCAP:BTC and other Financial Market sectors. Breaking down from the range, upcoming supports are EMA200 catching up to 12Hr(tf), Demand Zone during impulsive price action in 1Hr(tf) + a small support trendline. If all these zones fail to provide support assuming a range breakdown headed South, watch for S/R zone 24K-25K to catch a decent bounce, welcoming great probability outcome Longing on Derivatives . Remain Patient ! Until the next confirmation TRADE SAFE *** Note that this is not Financial Advice . Please do your own research and consult your own Financial Advisor before partaking on any trading activity based solely on this Idea
BITMEX:XBT
by Mr_J__fx
Bitcoin Analyze (Road Map, 07/23/2023)!!!🗺️(15-Min)Due to the fact that the trading volume is generally low on Saturdays and Sundays , the structure of the waves became complex. Bitcoin seems to be completing the Double Three Correction(WXY) in 🟡 PRZ(Price Reversal Zone) 🟡. Although Bitcoin seems to have succeeded in creating the Inverse Head and Shoulders pattern , it seems that the effect of this pattern is only up to PRZ (maybe a little higher) . I expect Bitcoin to start declining from the PRZ and attack the 🟢 support zone($29,850-$29,480) 🟢 again. Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
47
Bitcoin Analyze (Road Map, 07/21/2023)!!!🗺️(15-Min)Bitcoin has managed to form an ascending channel in the 15-minute time frame⏰. In terms of the structure of the waves in the ascending channel, I can say that Bitcoin was able to complete the main wave Y at the top of ascending channel and 🟡 Price Reversal Zone(PRZ) . 🔔I expect Bitcoin to try again to break the 🟢 support zone($29,850-$29,480 )🟢 ⚠️ after breaking the lower line of ascending channel ⚠️. --------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Indonesia launches its crypto exchange and clearing house. Couple Alleged to Have Stolen $4.5 Billion Bitcoin in Bitfinex Hack Case Reached a Deal with US Prosecutors. Tesla’s diamond hands: EV maker's Bitcoin holdings see no change in Q2. Robert F. Kennedy Jr. Wants Bitcoin Backed U.S. Dollars and Tax Breaks for Investors. Bitcoin ETFs Move Closer To Approval, SEC Lists 8 Applicants On Federal Register. Societe Generale Becomes First Company to Win French Crypto License. 🌐➖ Negative News ➖🌐: Bloomberg Analyst Issues Bitcoin Alert, Says One Catalyst Could Cause Headwinds for BTC. US Government Sells Another 8,200 Bitcoin, On-Chain Data Confirms. The Bill Bringing Strict Rules to Cryptocurrencies Has Been Submitted to the US Senate! UK Government Rejects Lawmaker Plan to Regulate Crypto as Gambling. Kuwait Cracks Down on Crypto, Banning Payments, Investment and Mining. Elon Musk’s Tesla Keeps Dogecoin (DOGE) As Payment Option While Removing Bitcoin (BTC). --------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
44
Bitcoin Road Map(15-Min)🗺️!!!Hi everyone👋. Bitcoin is moving in the 🟢 support zone($29,850-$29,480) 🟢. If we want to analyze Bitcoin in the 15-minute time frame in terms of Elliott wave theory , we will find that Bitcoin started to create corrective waves after completing the Expanding Ending Diagonal pattern . The structure of Bitcoin corrective waves is Zigzag type(ABC/5-3-5). 🔔I expect the end of the main wave B to end in one of the Price Reversal Zones(PRZs) . After confirming the end of the main wave B, we should expect the main wave C to finish in the 🔴 resistance zone($30,480-$30,360) 🔴. --------------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: Cryptocurrency Industry Employment Skyrockets, Surging 160% in Four Years. Societe Generale Becomes First Company to Win French Crypto License. Bitcoin ETPs Witness Record-Breaking Monthly Inflows: K33 Research. Republican lawmakers are preparing a new crypto bill in wake of Ripple decision. South Korea’s Oldest Bank Completes Stablecoin Trial On Hedera Network. US Congressman Calls Gary Gensler: "Stop Attacking Cryptocurrencies". 🌐➖ Negative News ➖🌐: Binance cuts back on employee benefits, citing ‘decline in profit’: Report Reserve Bank of India Deputy Governor: Stablecoins are dangerous for emerging economies US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road Hackers. --------------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
49
Bitcoin goes UP by Descending Broadening Wedge Pattern🚀(15MIN)Bitcoin is moving in the 🟢 support zone($29,850-$29,480) 🟢. Bitcoin has also managed to form Descending Broadening Wedge Pattern in the support zone. In addition, there is a Regular Divergence (RD+) between two successive valleys. 🔔I expect Bitcoin to go UP at least to the 🔴 resistance zone($30,480-$30,360) 🔴 ⚠️ after ⚠️ breaking the upper line of the Descending Broadening Wedge Pattern . ------------------------------------------------------------------------------------- 🌐➕ Positive News ➕🌐: New Bitcoin addresses hit yearly high. Telegram CEO Pavel Durov says that he owns some Toncoin and Bitcoin. Robinhood Eyes UK Market with New Hirings Already Underway. Coinbase CEO Brian Armstrong to Meet House Democrats About Crypto Legislation: Bloomberg. Bullish Bitcoin Signal: SEC Acknowledges Another ETF Proposal. 🌐➖ Negative News ➖🌐: Binance cuts back on employee benefits, citing ‘decline in profit’: Report Reserve Bank of India Deputy Governor: Stablecoins are dangerous for emerging economies US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road Hackers. ------------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
34
BTC (Bitcoin) Coin Analysis 14/05/2021Fundamentals: Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009. Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.” Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use. Bitcoin’s most unique advantage comes from the fact that it was the very first cryptocurrency to appear on the market. It has managed to create a global community and give birth to an entirely new industry of millions of enthusiasts who create, invest in, trade and use Bitcoin and other cryptocurrencies in their everyday lives. The emergence of the first cryptocurrency has created a conceptual and technological basis that subsequently inspired the development of thousands of competing projects. The entire cryptocurrency market — now worth more than $950 billion — is based on the idea realized by Bitcoin: money that can be sent and received by anyone, anywhere in the world without reliance on trusted intermediaries, such as banks and financial services companies. Thanks to its pioneering nature, BTC remains at the top of this energetic market after over a decade of existence. Even after Bitcoin has lost its undisputed dominance, it remains the largest cryptocurrency, with a market capitalization that fluctuated between $100-$200 billion in 2020, owing in large part to the ubiquitousness of platforms that provide use-cases for BTC: wallets, exchanges, payment services, online games and more. Bitcoin is secured with the SHA-256 algorithm, which belongs to the SHA-2 family of hashing algorithms, which is also used by its fork Bitcoin Cash (BCH), as well as several other cryptocurrencies. Bitcoin is the first decentralized, peer-to-peer digital currency. One of its most important functions is that it is used as a decentralized store of value. In other words, it provides for ownership rights as a physical asset or as a unit of account. However, the latter store-of-value function has been debated. Many crypto enthusiasts and economists believe that high-scale adoption of the top currency will lead us to a new modern financial world where transaction amounts will be denominated in smaller units. The top crypto is considered a store of value, like gold, for many — rather than a currency. This idea of the first cryptocurrency as a store of value, instead of a payment method, means that many people buy the crypto and hold onto it long-term (or HODL) rather than spending it on items like you would typically spend a dollar — treating it as digital gold. The most popular wallets for cryptocurrency include both hot and cold wallets. Cryptocurrency wallets vary from hot wallets and cold wallets. Hot wallets are able to be connected to the web, while cold wallets are used for keeping large amounts of coins outside of the internet. Some of the top crypto cold wallets are Trezor, Ledger and CoolBitX. Some of the top crypto hot wallets include Exodus, Electrum and Mycelium. The Lightning Network is an off-chain, layered payment protocol that operates bidirectional payment channels which allows instantaneous transfer with instant reconciliation. It enables private, high volume and trustless transactions between any two parties. The Lightning Network scales transaction capacity without incurring the costs associated with transactions and interventions on the underlying blockchain. Bitcoin’s original inventor is known under a pseudonym, Satoshi Nakamoto. As of 2020, the true identity of the person — or organization — that is behind the alias remains unknown. On October 31, 2008, Nakamoto published Bitcoin’s whitepaper, which described in detail how a peer-to-peer, online currency could be implemented. They proposed to use a decentralized ledger of transactions packaged in batches (called “blocks”) and secured by cryptographic algorithms — the whole system would later be dubbed “blockchain.” Just two months later, on January 3, 2009, Nakamoto mined the first block on the Bitcoin network, known as the genesis block, thus launching the world’s first cryptocurrency. However, while Nakamoto was the original inventor of Bitcoin, as well as the author of its very first implementation, over the years a large number of people have contributed to improving the cryptocurrency’s software by patching vulnerabilities and adding new features. Bitcoin’s source code repository on GitHub lists more than 750 contributors, with some of the key ones being Wladimir J. van der Laan, Marco Falke, Pieter Wuille, Gavin Andresen, Jonas Schnelli and others. Bitcoin’s total supply is limited by its software and will never exceed 21,000,000 coins. New coins are created during the process known as “mining”: as transactions are relayed across the network, they get picked up by miners and packaged into blocks, which are in turn protected by complex cryptographic calculations. As compensation for spending their computational resources, the miners receive rewards for every block that they successfully add to the blockchain. At the moment of Bitcoin’s launch, the reward was 50 bitcoins per block: this number gets halved with every 210,000 new blocks mined — which takes the network roughly four years. As of 2020, the block reward has been halved three times and comprises 6.25 bitcoins. Bitcoin has not been premined, meaning that no coins have been mined and/or distributed between the founders before it became available to the public. However, during the first few years of BTC’s existence, the competition between miners was relatively low, allowing the earliest network participants to accumulate significant amounts of coins via regular mining: Satoshi Nakamoto alone is believed to own over a million Bitcoin. Mining Bitcoins can be very profitable for miners, depending on the current hash rate and the price of Bitcoin. While the process of mining Bitcoins is complex, as we wrote above, mining Bitcoin is best understood as how long it takes to mine one block, as opposed to one Bitcoin. The current valuation of Bitcoin is constantly moving, all day every day. It is a truly global asset. From a start of under one cent per coin, BTC has risen in price by thousands of percent to the numbers you see above. The prices of all cryptocurrencies are quite volatile, meaning that anyone’s understanding of how much is Bitcoin will change by the minute. However, there are times when different countries and exchanges show different prices and understanding how much is Bitcoin will be a function of a person’s location. The live Bitcoin price today is $50,273.75 USD with a 24-hour trading volume of $67,589,236,096 USD. Bitcoin is up 0.33% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $940,615,599,685 USD. It has a circulating supply of 18,709,875 BTC coins and a max. supply of 21,000,000 BTC coins. Technical Analysis: As you can see the Coin has done its Reaccumulation Phase followed by series of impulsive waves and it has already made the All Time High of 64850$, which Followed by Some Distribution and Plunges to the 46000$. According to our Analysis and speculation, there has to be some retracement and price Correction to the lower levels of the Past Bullish wave in order for the coin to regain its Bullish rally Strength for the higher highs Burst. By using Fibonacci Retracement tool, we can specify some Certain Retracements and Support Levels, where we can expect the Price to fall, and if they Could stand, the Price Shall Bounce back up from them, and if broken then the lower next on the line shall be tested. According to our experience and Observation of Cryptocurrencies Behavioral Movements, and on the general note, we can consider the 78.6% level (17000$) of Fibonacci retracement to be the Golden zone for the crypto currencies, as 61.8% level is for other assets such as Forex and Equites as it has shown les Significant Support on the higher Volatile Assets such as Cryptos. there are few Targets defined by the Fibonacci Expansion of the same Bullish Wave. the 2 TP (103000$) will be confirmed if the 38.2% level (41000$) Fibonacci Retracement, Immediate Support Stands and Price could bounce back UP from the same level. there are 3 Vertical White Dotted Lines on the chart specified by Fibonacci Time Zone and they can show us the Time and Date when we can expect to see the price on some certain levels of retracement or rally... As the Bitcoins Price Plunges so does its dominance, and we can Expect the Altcoins gets Pump from its Dump.
Long
by BitonGroup
28
Bitcoin Road Map🗺️!!!(4-hour time frame⏰)Hi everyone👋 (Reading time less than 3 minutes⏰). Bitcoin has been moving in a Rectangle Pattern for more than 21 days . If we look at the waves inside the Rectangle Pattern in terms of Elliott waves , we will find that Bitcoin has succeeded in completing the Double Three Correction(WXY) , and in the last 7 days, it is forming an Expanding Ending Diagonal . 💡One of the Signs to confirm the end of wave 5 of Expanding Ending Diagonal can be the formation of the Hanging Man Candlestick Pattern . 💡Another Sign to confirm the end of wave 5 inside the Expanding Ending Diagonal can be Fibonacci levels so that wave 5 is often 138.2%-161.82% in size relative to the size of wave 3 . 💡Another sign is the fifth touch of Bitcoin with the resistance line , which shows the importance of this line for Bitcoin. 🔔As a result, I expect Bitcoin to decline to at least the middle of the rectangle pattern or 🟢 support zone($30,480-$30,360) 🟢. ❗️ Note ❗️: If Bitcoin goes above $31,880 , expect Bitcoin will touch at least $33,000 . 📚For a better understanding and educational aspect, I tried to show you the structure of the waves inside the rectangle pattern on the chart. 🌐➕ Positive News ➕🌐: Ripple won in court, creating a wave of hope and happiness in the cryptocurrency community. Europe’s First Bitcoin ETF Set To Begin Trading After 12-Month Wait. Argentina Embraces BTC With Its First Bitcoin Futures Contract . Galaxy Digital CEO Mike Novogratz opines that if the Securities and Exchange Commission (SEC) gives the green light for a spot BTC exchange-traded fund (ETF), it will turn around the fortunes of the largest virtual currency. 🌐➖ Negative News ➖🌐: Bitcoin’s price is following in XRP’s footsteps by rallying close to $32,000, but the price could pull back in the face of this week’s $720 million options expiry. US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road US industry watchdogs oppose the draft bill on the crypto market structure. ---------------------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT), 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
83
Bitcoin- Bulls or bears, who will win?The beginning of the year also marked the start of a Bitcoin bull run with the main cryptocurrency almost doubling its value by mid-April. The high of the year was followed by a two months correction (contained in a falling wedge) and a new leg up to this high zone followed. In the last month or so, Bitcoin's price action is boring for swing traders, with the price ranging between 30k and 31.5. On the bright side, the structure from the low is still very bullish with the price contained in an ascending channel and the clear continuation rectangle pattern in place, but for the price to gain traction a break above 31.5 is needed. In this case, a rise to 35k becomes very probable. On the other hand, a drop under 30k, although not altering the bullish overall structure could lead to more losses and in this case, 28k confluence support is exposed. As a swing trader, my approach is wait and see
BITSTAMP:BTCUSD
by Mihai_Iacob
25
🚨Bitcoin will FALL by Ending Diagonal🚨(15-MIN)Bitcoin formed a 🐻 Bear Trap 🐻 after failing to break the 🟢 support zone($30,500-$30,370) 🟢. In terms of the structure of the waves, it seems that Bitcoin has formed an Ending Diagonal in the 15-minute time frame⏰. Also, we can see Regular Divergence (RD-) between two consecutive peaks . 🔔With the breaking of the lower line of the Ending Diagonal pattern, I expect Bitcoin to successfully break the 🟢 support zone($30,500-$30,370) 🟢 this time. ------------------------------------------------------------------------- I tried to divide the important news of the past 48 hours into Negative and Positive News for you. 🌐➖ Negative News ➖🌐: US industry watchdogs oppose the draft bill on the crypto market structure. Former Celsius CEO Alex Mashinsky reportedly arrested Reserve Bank of India Deputy Governor: Stablecoins are dangerous for emerging economies US Government Moves $305,000,000 Worth of Bitcoin (BTC) Seized From Silk Road Hackers Bitcoin ETF Is Not Most Important Adoption Vector for BTC, Gabor Gurbacs Says 🌐➕ Positive News ➕🌐: The inflation rate in June in the United States was announced at 3%; Continued reduction in inflation Telegram Wallet bot enables in-app payments in Bitcoin, USDT, and TON. Billionaire Investor Tim Draper Still Bullish on Bitcoin, Foresees $250,000 Price in the Future – Here's the Timeline Google Play Changes Policy on Tokenized Digital Assets, Allowing NFTs in Apps and Games Crypto Criminals Stealing Much Less Money in 2023. ------------------------------------------------------------------------- Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
9
Bitcoin and Symmetrical Triangle🚩(15-Min)⏰Bitcoin has managed to form a Symmetrical Triangle Pattern in the last 24 hours. Since the symmetrical triangle is considered a continuation pattern most of the time, But we must be ready for both movements. In case of breaking any of the symmetrical lines, we must expect Bitcoin to move up to the Top or bottom of the Rectangle Pattern . What do you think❗️❓ Which of the lines of the symmetrical triangle pattern will Bitcoin break❗️❓ Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
20
Bitcoin- 35k could be nextSince the beginning of the year, Bitcoin is in an up trend contained in a nice rising channel, and after the break of the corrective falling wedge that followed the high of the year, the price rose again and for 3 weeks already is consolidating in this 30k zone. This consolidation has formed a rectangle pattern which normally is a continuation pattern. I expect this to be the case now and a new leg up will follow after the break above resistance. 35k is my target for BTC
BITSTAMP:BTCUSDLong
by Mihai_Iacob
19
✂️Bitcoin LOST the support line✂️(1-hour time frame)It seems that Bitcoin managed to complete the correction structure of Double Three Correction(WXY) in the last three days. The 💡 Sign 💡 of the completion of the Double Three Correction structure can be the breaking of the support line . ➕Also, if we look at the RSI indicator in the 1-hour time frame, we can see the 🗻Double Top Pattern🗻 , and I expect the RSI to move downward in the coming hours .👇 🔔I expect Bitcoin to attack⚔️ the 🟢 support zone($29,860-$29,420 )🟢 again after breaking the support line . Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
82
#Bitcoin stagnant; will BTC bears force prices below $30k?Past Performance of Bitcoin Bitcoin prices were technically unmoved over the weekend, looking at price charts. Therefore, while there was a notable contraction on July 6 at the back of expanding volumes, the rejection on July 7 relieved buyers. Still, from an effort-versus-result perspective, sellers have the upper hand in the short term. This can only change if buyers flow back, reversing the June 6 loss at the back of rising trading volumes. #Bitcoin Technical Analysis The path of least resistance remains to be northwards despite the current consolidation, from a top-down preview. Prices are boxed inside a $1.5k zone with caps at around $29.8k and $30k on the lower end, and $31.3k on the upper end. As it is, BTC prices are inside a developing bull flag where volumes are relatively light. Therefore, unless there is a conclusive close with rising volumes confirming sellers of July 6 below $29.8k, buyers of the second half of June are in control. For now, aggressive sellers may search for entries, unloading on attempts higher but below $31.3k with targets at $30k and $29.8k in the short term. What to Expect from #BTC? For now, traders should be patient considering the light trading volumes and the failure of bulls to wipe losses of July 6 that skews price action in favor of sellers. This formation could be a precursor for more losses this week, slowing down the upside momentum, especially if prices dip below the $29.8k and $30k support zone. Resistance level to watch: $31.3k Support level to watch: $29.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer