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Btcusdshortsetup

Bitcoin Head & Shoulders PossibleOn the Daily chart Bitcoin has the potential to complete a Head and Shoulders pattern, like so many altcoins did- so watching for this confirmation of drops below key support is critical. When looking at the Monthly chart, the RSI/SRSI indicators show a likely continuation down, indicating more time is likely needed to shake out this correction. Currently resting on the 13 Moving Average on the Monthly, the 34 and 100 moving averages are shown for reference. A drop below the 13 MA would set us up for confirmation, and a test of the 34 MA. $20K and then possibly a test of $10K are very real longer term correction targets to consider.
BITSTAMP:BTCUSDShort
by kingofkrypto1
3
BTC inside Descending Channel!BINANCE:BTCUSDT after PPI news and hawkish statement by the FEDs, seen a massive sell off directly at $21600 range and broke out from the huge ascending wedge, showing that the bullish trend is ending. The price broke down and reached the fib point at 0.786 $20500 and retraced back to the top. At current time, we can see that a descending channel had formed and with the current bearish sentiment post PPI, we believe it is a good time to do a short down. Few signs as below -Hawkish statement by Fed -US Stocks sell off -US opening in around 3 hours (Futures heading down, expecting more down) -DXY pumped on the support As confirmed by the points on the chart, the descending channel now had just reached the upper TL and provide a good setup for a short trade. We expect the price to drop to the next fib point at around $19600 with a tight stoploss just above the upper trendline at $21900. Will update the idea as the trade goes on.
Short
by wenxuan2
1
BTC/USD Tests 14988 On Pullback Technical Analysis(BTC OVERVIEW)Bitcoin (BTC/USD) gave back some recent gains early in today’s North American session as the pair depreciated to the 15200.00 area after trading as high as the 15779.24 area in the Asian session, a test of the 15791.86 area that represents the 76.4% retracement of the recent depreciation from 15977.67 to 15190.36. BTC/USD’s recent 2020 high of 15977.67 represents a test of the 15996.17 area, an upside price objective related to buying pressure that emerged around the 6430 area. Stops were elected below the 15400.02, 15325.68, and 15042.66 areas during the pullback, retracement levels related to recent buying pressure that emerged around the 13215 and 13530.01 areas. Additional downside retracement levels include the 14922.33, 14753.84, 14596.34, and 14465.02 areas. Additional upside price objectives include the 16085.25 levels, 16125.14, 16275.77, 16690.89, 16815.04, and 16945.67 levels. Following the pair’s recent ascent, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 15042.66, 14988.00, 14922.33, 14753.84, 14569.57, 14310.71, 14101.50, and 13989.55 levels. Stops were recently elected below the 13609.26, 13451.74, 13224.44, and 13197.13 levels during the recent pullback, levels related to the recent appreciating range from 12785.00 to 13863.87. Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Another important technical level includes the 11510.44 area, representing the 50% retracement of a historical depreciation from 19891.99 to 3128.89. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly). Price activity is nearest the 50-bar MA (4-hourly) at 14210.06 and the 100-bar MA (Hourly) at 14766.52. Technical Support is expected around 13260.30/ 12847.95/ 12563.28 with Stops expected below. Technical Resistance is expected around 15996.17/ 16125.14/ 16293.88 with Stops expected above. On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage. On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage. Bitcoin (BTC/USD) pared some of its massive recent gains early in today’s North American session as the pair depreciated to the 15439.67 area after trading as high as the 15977.67 area in the Asian session, a test of the 15996.17 area that represents an upside price objective related to buying pressure that emerged around the 6430 area. During the European session, BTC/USD traded as low as the 15301.11 area, just below the 15308.78 area that represents an upside price target related to buying pressure that emerged around the 6854.67 area. Many Stops were elected during the pair’s recent significant appreciation, and these include above the 14649.74, 14825.82, 15007.55, 15093.00, 15347.78, and 15479.66 areas. Additional upside price objectives include the 16085.25 levels, 16125.14, 16275.77, 16690.89, 16815.04, and 16945.67 levels. Following the pair’s recent ascent, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 15325.68, 15042.66, 14988.00, 14922.33, 14753.84, 14569.57, 14310.71, 14101.50, and 13989.55 levels. Stops were recently elected below the 13609.26, 13451.74, 13224.44, and 13197.13 levels during the recent pullback, levels related to the recent appreciating range from 12785.00 to 13863.87. Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Another important technical level includes the 11510.44 area, representing the 50% retracement of a historical depreciation from 19891.99 to 3128.89. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly). Price activity is nearest the 50-bar MA (4-hourly) at 13904.41 and the 50-bar MA (Hourly) at 14781.61. Technical Support is expected around 13260.30/ 12847.95/ 12563.28 with Stops expected below. Technical Resistance is expected around 15996.17/ 16125.14/ 16293.88 with Stops expected above. On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage. On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
BITSTAMP:BTCUSDLong
by MavRich_Trading