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Technical analysis update: BTCUSD (4th December 2021)Recently, we correctly predicted the double top formation in its early stage while noting that Bitcoin was near its cyclical peak. Additionally, yesterday we warned investors about the imminent retest of a key technical level around 53 000 USD. Then overnight BTCUSD fell over 20% to as low as 41 967 USD. Since then the price retraced back to 47 800 USD. We continue to maintain a bearish stance on Bitcoin as we expect selling pressure to be persistent. However, it would not surprise us to see price retracement continue a little higher (and possibly above 50 000 USD) before falling again. Technical and fundamental analysis supports our bearish view. Crucial technical levels to watch are 48 834 USD, 42 900 USD and 39 573 USD. In the following weeks we will observe whether BTCUSD will manage to break below 39 573 USD and indicate continuation of the bearish trend. Our bold predictions from recent past: We warned about double top formation already on 16th November 2021. Technical analysis - daily time frame RSI continues to develop bearish structure and it is due to perform crossover into the bearish zone. We expect such an occurrence to be accompanied by heavy selling pressure. MACD and Stochastic are also bearish. Additionally, DM+ and DM- are bearish too. ADX suggests that the bearish trend keeps strengthening. Overall, technical analysis on the daily time frame is very bearish and supports our bearish stance. Technical analysis - weekly time frame RSI, MACD and Stochastic are all bearish. DM+ and DM- show the same conditions as they performed bearish crossover recently. ADX remains low. Support and resistance Major resistance remains at 69 000 USD. Major support level is at 28 600 USD. Short-term resistance is at 48 834 USD, then Resistance 1 is at 52 956 USD. Resistance 2 is at 59 564 USD. Resistance 3 is then at 64 895 USD. Support 1 is at 42 900 USD and Support 2 is at 39 573 USD. Our recent popular idea from 16th November 2021: Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
26
Technical analysis update: BTCUSD (26th November 2021)Today BTCUSD reached 55 000 USD in tandem with our expectations expressed in the previous 2 posts. Currently, it trades around 54 600 USD per coin. We continue to be bearish on Bitcoin as technical analysis continues to support this thesis. We think current weakness in the global markets will be persistent in the short-term. Additionally, we think that this weakness will be contagious to cryptocurrency markets and it will create headwinds for further rise in cryptocurrencies (in the short-term horizon). We think BTCUSD will continue lower and we expect it to test short-term support at 52 956 USD in the following days. Our recent popular post from 16th November 2021: Here we started to speculate about possible double top formation. We also expressed that volume was declining while price continued to climb higher. We noted that this pointed to evaporation of buyers at higher levels of prices. In our opinion, this foreshadowed subsequent drop in price (combined with other warning signs). Technical analysis - daily time frame RSI, MACD and Stochastic continue to evolve their bearish structure. DM+ and DM- show also bearish conditions. ADX exhibits growth which suggests that the bearish trend is strengthening. In general, a bearish time frame is extremely bearish. Technical analysis - weekly time frame Divergence in RSI is clearly observable. This is a very bearish development. MACD is in the bullish area, however, it is flattening (and reversing to the downside). Similarly, Stochastic also started to point into bearish direction. ADX is very low which suggests the bullish trend of higher degree has lost its steam already. Overall, the weekly time frame is bearish. Divergence in RSI on weekly time frame: Divergence in MACD on weekly time frame: Technical note Synchronization in the bearish conditions between daily and weekly time frames suggests mounting trouble ahead for BTCUSD. We think BTCUSD is headed way lower and it will drag the rest of cryptocurrencies with it. We think investors should be very cautious in the following weeks. Fundamental note Hawkish narrative by the FED, additionally, supports bearish views for the cryptocurrency market. We think that decrease in quantitative easing combined with increase in interest rates will be detrimental to cryptocurrencies as purchasing power of the dollar will be rising. Further, we think prevailing irrationallity in the cryptocurrency markets (especially among lay and retail traders) combined with calls for extremely high prices such as BTC at 200k USD, 500k USD, etc., only shows how inflated this market is (at the moment). Support and resistance Major resistance level sits at all time high of 69 000 USD. Below that is Resistance 2 which sits at 64 895 USD (previous top). Resistance 1 appears even lower at 59 603 USD. Short-term support is at 52 956 USD. Then below that is Support 1 at 48 834 USD and Support 2 at 39 573 USD. Major support level lies at 28 600 USD (2021 low). DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
8
Technical analysis update: BTCUSD (16th November 2021)BTCUSD continues to move sideways within rectangle formation as bullish trend is losing momentum and becoming neutral. Bitcoin currently trades around 60 900 USD pricetag; and we are currently bearish on BTC as technical analysis on daily time frame supports this thesis. We expect eventual breakout below the neutral zone. Additionally, we expect such occurence to be accompanied by further selling pressure and possible beginning of bearish trend. If bearish breakout occurs then we expect price to test 55 000 USD. Volume decreases as BTC continues to move sideways - which suggests that new buyers are increrasingly harder to find. Technical analysis - daily time frame MACD, Stochastic and RSI are all bearish. ADX contains low value which suggests neutral trend. However, we expect bearish breakout from neutral zone and resumption of selling pressure. Technical analysis - weekly time frame RSI is just slightly below overbought zone and it manifests sideways movement. Inability to pierce through 70 points might suggests that bullish trend peaked already. However, MACD and Stochastic still remain bullish. ADX suggests very weak trend which coincides with daily time frame. We would like to note it is possible that double top is forming in BTCUSD. Because of that we think investors should be very cautious. Support and resistance Major resistance sits at 69 000 USD. Resistance 1 lies at 64 895 USD while Support 1 lies at 59 603 USD. Support 2 sits at 52 956 USD and Support 3 appears at 42 900 USD. Then Support 4 sits at 39 573 USD. Major support level can be found at 28 600 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
96
Technical analysis update: BTCUSD (22nd November 2021)Last week we correctly predicted bearish breakout below the neutral zone. We also noted that we expected retest of 55 000 USD price level (BTCUSD stopped its decline at 55 640 USD). Since then price action continued to be choppy. We think it is possible for BTCUSD to retest 55 000 USD price level again in the following days. Technical analysis supports this view as technical indicators point to bearish conditions in the market. We recently pointed out possible double top being formed: Recent developments seem to confirm this development. However, we would be forced to change our stance if price retraced back into neutral zone depicted on the main chart. We also pointed out (several times over past two months) decreasing volume in BTCUSD while price was climbing higher: We noted that new buyers were increasingly harder to find. After that, drop in price followed. Technical analysis - daily time frame Daily time frame shows bearish developments. RSI is bearish and same applies to MACD and Stochastic. Indeed, MACD is performing bearish crossover which we expect to be accompanied by further selling pressure. However, ADX contains low value which suggests that current trend is either neutral or very weak (this coincides with ADX on weekly time frame). Because of that we expect price to move sideways for little longer before finally going lower. Technical analysis - weekly time frame RSI failed to perform bullish crossover and instead it reversed to downside. ADX continues to decline which suggests that bullish trend of higher degree has most likely peaked and trend is becoming neutral. MACD remains in bullish territory, however, it started to flatten little bit. Stochastic also remains in bullish area. Although, it already performed bearish crossover. In general, weekly time frame flashes warning signs for BTCUSD as it suggests previous bullish trend is becoming neutral. RSI's failure to penetrate 70 points into bullish territory on weekly time frame: Support and resistance Major support level sits at 28 600 USD. Major resistance level lies at 69 000 USD. Support 1 appears at 52 956 USD. Support 2 lies at 48 834 USD. Support 3 is at 42 900 USD and then Support 4 is at 39 573 USD. Resistance 1 lies at 59 603 USD while Resistance 2 sits at 64 895 USD. Psychologically important price levels From psychological standpoint there are few other price levels that are important. These are respectively: 70 000 USD, 60 000 USD, 55 000 USD and 50 000 USD. Our previous idea from 16th November 2021 Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
6
Technical analysis update: BTCUSD (27th October 2021)In our last idea on BTCUSD we pointed out that Bitcoin was very overvalued in short-term and due to correct. We layed out two possible scenarios for BTC. In first scenario we expected BTCUSD to correct and then resume bullish trend. In second scenario we expected BTCUSD to reverse bullish trend through double top formation. Now we are inclined towards second scenario as another important support level around 60 000 USD was broken. We also showed interesting trade setup which is displayed below: Now it is clear that BTCUSD dropped below previous short-term support; and now it remains in bearish territory. Technical analysis supports bearish thesis for BTCUSD as many indicators turned bearish. Because of that we would like to set new short-term price target to 55 000 USD. Technical analysis RSI performed crossover below 70 points which was accompanied by selling pressure as we predicted. RSI turned bearish. MACD and Stochastic are also bearish. In addition to that, DM+ and DM- is due to bullish crossover. We are currently bearish on Bitcoin. Support and resistance Major resistance sits at recent all time high of 67 016.50 USD. Another important resistance (Resistance 2) sits at 64 895.22 USD. Resistance 1 lies at 59 603 USD. Support 1 lies at 52 956 USD and Support 2 at 42 900 USD. Support 3 appears at 43 643.34 USD while major support sits at 28 600 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
4
Technical analysis update: BTCUSD (20th October 2021)BTCUSD reached new all time high today as Bitcoin ETF reached over 1 bn. USD in AUM within just two days since it started trading. We previously noted if new all time high was reached then it would force us to change our stance from bearish to bullish. We also noted that we expected price to continue rise in case of breakout above previous all time high. We continue to think that more upside awaits BTCUSD. However, we think investors should be cautious. Volume keeps decreasing while price reaches new highs and several indicators are overvalued which suggest that price should correct. Because of that we think it would be smart to wait for any pullback before entering long position in the market. Bitcoin currently provides interesting setup with possible long entry above short-term support or short entry below short-term support. Technical analysis RSI is extremely overvalued and we expect it to reverse soon. We expect such occurence to be accompanied by selling pressure. Stochastic remains bullish altogether with MACD. ADX contains high value which suggests that trend is strong or near its peak. We expect volatility of BTC to stay elevated in short-term. Support and resistance Short-term support coincides with previous all time high of 64 895.22 USD. Support 1 appears at 59 603 USD and Support 2 at 52 956.47 USD. Closest psychological resistance lies at 70 000 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
28
Paris Saint Germain PSG Fan TokenParis Saint Germain PSG Fan Token analysis PSG USDT has reached a strong weekly demand level around 23.85 price level. This is a great opportunity to buy PSG fan tokens for those of you who trade cryptocurrencies and fan tokens. Fan tokens are a type of cryptocurrency that allow holders to vote on mostly minor decisions related to their clubs. Among clubs to launch tokens this year are English Premier League champions Manchester City and Italy’s AC Milan. Messi’s former club Barcelona launched one last year. PSG token is just one of the many fan crypto tokens available as of October 2021.
Long
by AlfonsoMoreno
6
Technical analysis update: BTCUSD (17th October 2021)BTCUSD reached high of 62 944.94 USD while several technical indicators started to flash warning signals. First, breakout at 48.8k USD and then at 53k USD occured in very fast and unnatural motion which suggests that these price levels were most likely manipulated with goal to lurk new investors into the market. Second, volume is way lower than in previous rally that took Bitcoin to all time high and professional investors are selling their holdings into hands of retail investors. Third, several technical indicators signal that price is currently overvalued. We change our stance from bullish to bearish . Similar setup is available in Bitcoin futures (BTC1!) Technical analysis Stochastic is bullish. MACD is also bullish, however, histogram started to decline slightly. Price deviated too far from its 50-day SMA . RSI left overbought territory and penetrated 70 points which suggests that price is elevated and due to correct. BTCUSD - daily chart with 50-day SMA and volume. It is easily observable that volume is considerably lower than in previous uptrend. Support and resistance Short-term resistance sits at 59 603 USD. Short-term support appears at 52 956 USD while Support 1 is at 48 834 USD. Support 2 sits at 39 573 USD while major support lies at 28 600 USD. Major resistance coincides with all time high at 64 895 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
9
Technical analysis update: BTCUSD (15th October 2021)BTCUSD trades slightly below 60 000 USD pricetag. We will observe whether it manages to break above this price level and stay there. It would be particularly bullish for BTCUSD and in such scenario we would expect BTCUSD to try new all time high. However, there are several indicators that reached overbought condition already. Therefore, we are very cautious. Technical analysis Stochastic is bullish. MACD is also bullish. Trend continues to be bullish, however, RSI reached overbought condition which suggests that price might experience correction soon. Support and resistance Short-term support sits at 59 603 USD. Support 1 appears at 52 956 USD and Support 2 at 48 834 USD. Support 3 sits at 39 573 USD while major support lies at 28 600 USD. Major resistance coincides with all time high at 64 895 USD. Previous thought from 6th October 2021: Here we noted that we changed stance from neutral to bullish. Previous thought from 4th October 2021: Here we presented interesting and very clear setup for BTCUSD. After that price bursted into bullish direction. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
BITSTAMP:BTCUSDLong
by Tradersweekly
7
The dangers of Leveraged TokensMost experienced traders know that leveraged tokens should be avoided at all cost. Exchanges advertise these products to ignorant traders who are afraid to trade on leverage, with phrases like "Now you can use leverage without the risk of liquidation!". Be aware that these products have been carefully designed to take your money, and then some. The underlying algorithms are incomprehensible for anyone without a higher level math degree (myself included), but a look at price action is all we need. While in theory you may not get liquidated, during certain events it is possible for leveraged tokens to depreciate immensely in value. This happened for example during the May flash crash, where a cascade of liquidations of the underlying assets combined with rebalancing events caused some leveraged tokens to loose up to 95% of their respective value. See the SUSHIUP token for example in the image below. The token dropped around 93% in a single day and is currently trading at a wopping -98.7% of their pre-crash value. While technically this might not be a liquidation, in practice this comes down to the same thing. To make matters worse, during the flash crash, DOWN tokens also took a nosedive leaving a legion of traders outraged. Binance say they warn against these types of major price drops during times of extreme volatility. They did however offer some (very meagre) compensation to those affected when agreeing to the condition that you would be banned from trading leveraged tokens ever again. For those still holding on to their leveraged tokens from before the crash in the hope that they will one day recover, have a look at the image below. The image shows what volatility does to leveraged tokens over time compared to the value of their underlying assets. The image shows the performance of ETH vs ETHUP (Binance), ETHBULL (FTX) and ETH3L (Kucoin) over a period of 4 weeks. Volatility (both up and down swings) eats away at the value of your tokens. October 8th ETH was trading at the same level as a previous high, the leveraged tokens not so much. In short, your tokens will never recover. Sell them at a high or top of a bull run and put your money elsewhere. Conclusion, stay away from leveraged tokens and just use 3X leverage instead, which also makes it near impossible to get liquidated anyway.
by BowserMan
5
@Shibtoken experiences another challengeThis time, SHIB is following my prior plan. Since yesterday, this is the only token that has risen in tandem with bitcoin, while all other tokens/coins have fallen. Looking ahead to the next movement, I'm evaluating 2-3 market motion options. We should prepare our backup strategy and risks now, given the current situation of the financial market. Look at the intraday setup for SHIBUSDT (pic below) — the price is in a bullish triangle, therefore it will only be a day or two before it reaches the 3400 target level. Cryptocurrencies are changing rapidly, so it's a good idea to have a backup plan in case things go wrong. Keep an eye out for lines and breakouts on the main chart, and you will be safe!
by ArtemFuturesTrading
3
SHIB updateNot a financial advisor. We have been witnessing a great run so far, I personally see this continuing up more yet. Still want to see us get to that .0009 range from the Coinbase listing. We have hit .000025 and have been pulling back. In my opinion we will be seeing .00003 next with a bit more room to the upside if we do some retracements along the way. 30 minute chart looks good in my opinion. Still needs a bit of time before we run again. But all in all, this should be further uptrend from here. indicators look like they all had some breathing room, eager to see this next pop. Are we thinking Robinhood is listing? I like the looks of their chart, something could be up thats for sure. Either way, very happy to be here. And very early to this project as well. Chime in with your thoughts, always appreciate feedback and chatting with other traders.
COINBASE:SHIBUSDLong
by StofAxeCapital
5
SAND-USDT Long view (Gaming tokens rise)Hello all!👋 I was just looking at a chart of the popular gaming token owned by Animoca brands (SAND) 🔥 from the Sandbox virtual game 🕶🕹🎮📺 To me we seem t o be gaining support at the daily 0.618 Fib level and if this momentum in the market continues, I think gaming tokens such as SAND c an easily reach more great targets. (Gaming tokens during this time of extreme inflation , have been seeing substantial bullish price action) 🐮💲 Target depicted above is based on impulse wave extension. 🌊🆗 This is never financial advice, just my current view. 🐶 Coinmarketcap.com info : Market Cap $581,570,004 28.16% Fully Diluted Market Cap $1,976,801,702 2.08% Volume 24h $199,465,577 34.88% Volume / Market Cap 0.3424 Circulating Supply 882,592,326.22 SAND Good luck! Above are approximate targets based on fibs and major trend-lines etc. I always recommend looking at multiple charts when making a big investment. Always have a stop loss ✋🛑💲 set🆗 Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome. Jazerbay ☯
Long
by jazerbay
23
ALTCOIN REVIEW by Artem Shevelev — 10 August 2021Hey, in the past 24h altcoin market responded well to Bitcoin price rise. According to Binance exchange there is at least 10 altcoin pumped +20-70%. In this review I collected few altcoins which have not pumped too much, and located at relatively good point for buying / holding and profits might be amazing Before we go to alts, remember to use capital risk wise and calculate your maximum loss before trade. Let's go! First chart to watch is ICP / BTC ICP showing solid Adam & Eve bottom pattern and possible breakout from it, looking for levels above 1800 and might reach closely to 2000. If the price goes below 1300, I would recommend stopping the trade. The next chart is about GRT / BTC GRT is making a solid downtrend channel / wedge shape and might go for a breakout to retest the 2000 resistance zone. In the long term price can dip below 1300 where I located the next buy zone for holders. Keep your fingers crossed :) Third chart is for XTZ / BTC Tezos is holding well in the support zone, forming a nice wedge and might go higher in this resistance zone. I am looking for resistance near 8000-10000. But before reaching it, xtz seems to have an opportunity to reach the 6000 support zone, which is quite good for long-term buyers. And last chart for today is for MDT / BTC MDT chart located pretty low and gives nice range for making mid-term trades safe-side entry near 65-60 zone and with targets at 95 - 130 - 170 Keep your trades on the safe side, market conditions are constantly changing. See you in next updates Best regards Artem Shevelev
BITSTAMP:BTCUSD
by ArtemFuturesTrading
2
BTC - Donkeys chasing one another up the PoleThe comedy of the Dunce believes "Inflation" is Bullish for BitCoin. No explanation as to why, simply the new Mantra. It has ZERO History to support this new Narrative. BTC Price is not just driven by the money-supply, but speculative forces. Forces aligned who's answer - "Buy BitCoin" it's the Future. It's like the Bro with the Show who sees nowhere else to go. TINA argument tee'd up again and again. It's become a religion, a Cult, a faith based squeamish of speculators who are too steeped in Dogma to consider the opposite POV. Entrainment. Crypto-Currency is comical - it is clearly not a Currency, unless you prefer to exchange one Token for another... But, but, but... Tesla and Amazon are... Wait a minute, were with respect to Tesla. Never with respect to Amazon. Back to entrainment... at some point the Riggers will begin to attempt to phase out paper Currency and instill the Banking Confetti... Not Currency, simply a Digi-Script based upon even less. I'm certain the BIS will embrace competition when this moment arrives.
COINBASE:BTCUSDShort
by HK_L61
5
BNB has pumped a lot and will pump even more!1. Biggest exchange 2. Exchanges coins are hot after getting destroyed harder than many others 3. Only other way to get exposure to exchanges as Coinbase IPO is hot 4. Natural demand from the products Binance offers 5. BSC has grown quite a bit and might grow even more as people migrate from other chains and especially Ethereum 6. Lots of BNB trading pairs and BNB is listed on several exchanges and can be used outside Binance Chart looks super strong, with the previous ATH in BNBBTC turning into support and now BNB making a higher close. Very promising! From now on I'll be sharing a lot more stuff here on tradingview. I have no idea why I wasn't doing in before and kept it only for long posts. Now that things are moving so fast, I'll keep posting quality setups. Not much fluff, straight to the point, easy to understand. Before that I was doing it mostly on Twitter and Telegram, but now I'll share more here. It is a shame I can't show coins I talked about a lot in the past and people to get to know me better, but it is a fresh start after being on this platform for 4+ years.
Long
by BitcoinMacro
4
Yearn.finance perfect both vs USD and BTCYFI had an insane pump over the summer and it reached 1B marketcap from 0. That clearly was unsustainable and the aftereffects where clear. Everyone was hyped about YFI for a really long time but the chart looked weak. Anything that got added to the YFI ecosystem initially did well, except YFI. However now it is very clear that there is a breakout both in USD and BTC terms. On YFIUSDT the ATH has turned into support, while on YFIBTC we have an incredible floor. Looks like a gigantic Adam & Eve bottom + a mini inverse Head & Shoulders at the end, right after breaking the diagonal resistance. No idea how well can this do right now as most coins are up 20-30% over the last 2 days, but to me there is much more to it. Short term a pullback down to 48000 wouldn't be unreasonable
Long
by BitcoinMacro
Numeraire is showing a lot of strenght. Potential easy 2x ahead!NMRUSD on Coinbase just broke its previous high since its listing. It has been a massive under-performer, but usually has had massive spikes. I can't see how some coins on Coinbase will not pump a lot at all. Currently it is essentially at a 2x from its bottom vs BTC and could easily do another 2x from here. It has a quite special chart both vs USD & BTC and when it got listed on Coinbase it also got listed on Binance and a few days later on OKex. Prior to that it was only listed on smaller exchanges. The fact that it has performed so well amidst the market carnage is also a great sign that something big might come. s3.tradingview.com s3.tradingview.com
COINBASE:NMRUSDLong
by BitcoinMacro