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Bitcoinpricetrendanalysis

Bitcoin: Analysis and Predictions for Potential Corrections and Bitcoin, the largest cryptocurrency by market value, has once again surged past the $28,000 level amid collective gains in the wider cryptocurrency market, which has approached the $1.2 trillion mark in terms of market capitalization. Over the last 24 hours, Bitcoin has risen by about 5.6% to nearly $28,350. The current market sentiment is neutral to bearish, with the BTC price currently trading within a narrow range, with support around $27,000 and resistance around $28,600. Relative strength indicator (RSI) levels also show a bearish divergence, indicating weak buying pressure. The simple moving averages of 200 days and 200 weeks act as strong support levels for BTC. The monthly RSI is trending upwards, indicating a potential long-term rise. However, current market conditions suggest that Bitcoin may experience a bearish correction before any major rise. Regarding future scenarios, if BTC manages to break through the resistance level of $28,600, it is likely to move towards the range of $29,000 to $32,000. On the other hand, if BTC breaks below the support level of $27,000, it is likely to drop towards $26,000 or even lower.
B
by bbitar
Bitcoin, rallies into major resistance! Continuation or..?Bitcoin is pricing in a premium array and it's trending into major resistance, and I would like to see the price be valued down to 25.5k and take some strong bids before it's gonna continue and value at its higher prices. I am a short seller because the price which is going to this resistance is really ineffective and very weak. Confirmation with weekly PoC and with U.S. Dollar on major support. We'll see how it's gonna uphold, but for me, it gives me a nice risk-reward on higher time frame.
BINANCE:BTCUSD.PShort
by market_observation
1
BTC short term (1h candle)We recently broke down from our small ascending triangle (blue lines) and hit the target shortoy after perfectly! (White dotted lines and yellow horizontal) We then quickly bounced upward to retest the bottom of the triangle, which looked like rejection! Currently looking at other possible plays. Mainly a upward parallel channel (green lines). As you can see we are reacting nicely to the centre line nicely using it as both support and resistance. Will keep you updated
COINBASE:BTCUSD
by Connix
BTC/USD - Analysis of recent events and a Double TopQuick BTC/USD analysis of the last few Months: Looking at the Price and the Relative Strength Index (RSI) Convergence/Divergence: From Tuesday 13th Sept 22 until Saturday 5th Nov 2022 we had Convergence with the Price and RSI which indicated a reversal was most likely on its way. Price = HH - LH (Higher High - Lower High) RSI = HH - HH (Higher High - Higher High) Next from Wednesday 9th Nov 2022 to Monday 21st Nov 2022 we had Convergence with the Price and the RSI which then lead to a reversal breakout. Price = LL - LL (Lower Low - Lower Low) RSI = LL - HL (Lower Low - Higher Low) Next from Sunday 29th Jan until Tuesday 21st Feb 2023 we had Divergence with the Price and the RSI leading to the bearish reversal drop that we are still in today. I suppose you could start this Divergence sooner if you wanted, but i have started it on the 21st Feb 2023. Price = HH - HH (Higher High - Higher High) RSI = HH - LH (Higher High - Lower High) Here is a closer look at the 1 day chart. Here is a closer look at the RSI Indicator. For those who are new and do not know, please note that Divergence/Convergence with the Price and RSI is indicted by the Straight Yellow Lines on the Chart and RSI Indicator. A few other bits. BTC has also created a Double Top Pattern as indicated by the 2 circles on the chart with arrows. The 1st Top was at Monday 15th Aug 2022 and 2nd Top was at Tuesday 16th Feb 2023. Note that BTC tried to get above this support level 3x and failed all attempts at closing above this resistance line. BTC is still in an Ascending Channel Pattern, while it did break out of its Upper Resistance Trend-line, it did not CLOSE ABOVE it, so this Upper Resistance Trend-line is still valid. Using the Lower Trend-line of the Ascending Channel and the Double Top Resistance line, we can also say that BTC may also be in an Ascending Triangle Pattern. At the moment of typing this, BTC is still below its 50MA (Yellow Line) and has found some support from its 200MA (Red Line). Looking at just the Leading Span A (Senkou Span A) and Leading Span B (Senkou Span B) of the Ichimoku Cloud, we can see that BTC is in the Equilibrium Zone Inside the Cloud. Note that a successful daily candle CLOSE BELOW the 200MA will also bring BTC under its Leading Span B (Senkou Span B) support level into the Bearish Zone of the Ichimoku Cloud. Please note that i am not using the traditional 9,26,52,26 settings for this cloud. Looking at the Bollinger Bands, we can see that we have had massive expansion of the Upper and Lower Bands for the negative side, BTC is still way below its Middle Band Basis 20 Period SMA and note that the Middle Band is still Pointing Downwards. Note that BTC is still walking on the underside of its Lower Band. My thoughts: While Silvergate Bank’s liquidation may have contributed to the drop we are still in, looking at this chart, we can clearly see that the Price and the RSI were already giving the warning signs back in February especially with the Double Top and Price/RSI Divergence. We will now have to see if the 200MA holds as Support, if it doesn’t then next is the Lower Trend-line of the Ascending Channel Pattern. During these recession, it is iInteresting times ahead for BTC and the whole Crypto market. In any case, i hope this post has been informative and has helped those who are new to charting and using Price/Oscillator Convergence & Divergence to help predict possible price movement.
BITSTAMP:BTCUSD
by TradingThroughTheLens
#Bitcoin - thoughts out loud #17 !!! IT IS IMPORTANT TO READ THE DESCRIPTION !!! Good afternoon , dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. For the current period of time, I continue to look for opportunities to buy an asset cheaper. As in the previous opinion, it was said that the range of 23000 - 23200 is a benchmark for further movement. As we can see, there is no professional activity. I expect purchases to resume around 19000 . Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn . #Bitcoin
Short
by WVitalievich
#Bitcoin - thoughts out loud #16!!! IT IS IMPORTANT TO READ THE DESCRIPTION !!! Good afternoon , dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. On this time frame, you need to pay attention to the development of events. The graphical situation is as follows: If professional operators are not interested in further markup of the asset from the range of 23000 - 23200 , then I expect a drop to 19000 . We are watching the development of events on the 15m. Otherwise, it's a long-only mood. Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn . #Bitcoin
by WVitalievich
4
#Bitcoin - thoughts out loud #15!!! IT IS IMPORTANT TO READ THE DESCRIPTION !!! Good afternoon , dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. I am continuing the deal open on the previous idea. There is a buyer present, everything is going according to plan. I expect an impulsive movement, by Monday, March 06, 2023 , I expect bitcoin at 25800 . Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn . #Bitcoin
Long
by WVitalievich
5
#Bitcoin - thoughts out loud #14!!! IT IS IMPORTANT TO READ THE DESCRIPTION !!! Good afternoon , dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. The current situation suggests that the asset may rise in price over the next week. For further gains to occur, professional operators and other market participants should keep the price above 22722 with possible false breakouts. After this formation, we will have all the doors open for further upward movement. Otherwise, we will see a decline to the next support price, where there will be demand at favorable levels. Stay tuned for an update of the idea, there will be a continuation of the idea. Thank you all for your attention, I wish you success, and remember: Sometimes you win/ sometimes you learn. #Bitcoin P.S. Consider the previous idea and search for an entry point.
Long
by WVitalievich
2
#Bitcoin - thoughts out loud #13!!! IT IS IMPORTANT TO READ THE DESCRIPTION !!! Good afternoon, dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. The previous goals were achieved, but under a different scenario. After the asset has been depreciated, we see a surge in volumes at the culmination of sales, followed by a false breakout of the level and the strength of the buyer. There is a setup that can be used to work with, I open a long and support the trade. Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn . #Bitcoin
Long
by WVitalievich
6
#Bitcoin - thoughts out loud #11.Good afternoon , dear colleagues! I want to continue my opinion and vision of the current situation on the cryptocurrency market on the example of this instrument. Over the weekend, I expect the cryptocurrency market to form a trading range and move into a phase of redistribution or re-accumulation. The formation is not ready for this period of time, I need confirmation. What are your thoughts on this asset? Thank you all for your attention, I wish you success, and remember: Sometimes you win /sometimes you learn .
by WVitalievich