Update on BTC price action.
Like we said BTC got rejected from $48800 and failed to continue with the upward rally. As per the current scenario BTC is bouncing back from the lower trendline and we expect BTC to hold this level and continue with the rising wedge pattern. If it fails to do so then $47k will be the ultimate support.
We have the weekly close coming in so let's see where BTC will lean.
Like we said BTC got rejected from $48800 and failed to continue with the upward rally. As per the current scenario BTC is bouncing back from the lower trendline and we expect BTC to hold this level and continue with the rising wedge pattern. If it fails to do so then $47k will be the ultimate support.
We have the weekly close coming in so let's see where BTC will lean.
BTC broke below the $47k support and it bouncing right back from the 200 MA ($46800) in hourly timeframe. If BTC fails to hold the 200 MA support then $46k, $45k, and $44k will be on the way.
We need a weekly and daily close above $47k.
Trade safe and avoid leverage trading.
We need a weekly and daily close above $47k.
Trade safe and avoid leverage trading.
Pro Analysis
BTC broke below the $47k support and it bouncing right back from the 200 MA ($46800) in hourly timeframe. If BTC fails to hold the 200 MA support then $46k, $45k, and $44k will be on the way. We need a weekly and daily close above $47k. Trade safe and avoid…
BTC failed to hold and close above the $47k which lead the price back to the $44k to $47k channel. Currently, BTC is struggling to hold the price at $44670. If it cannot hold this level then $44k will be the strong support followed by $42600 and $40900.
What a way to start Monday.
What a way to start Monday.
Pro Analysis
BTC failed to hold and close above the $47k which lead the price back to the $44k to $47k channel. Currently, BTC is struggling to hold the price at $44670. If it cannot hold this level then $44k will be the strong support followed by $42600 and $40900. What…
Quick BTC price update:
Like we said, BTC was struggling to hold the $44600 level and the rejection dropped the price all the way to $42500 close to our support level we indicated.
This drop left a long shadow which indicates a strong buying pressure. Currently, BTC is trying to break above the $44k resistance which was previously a strong support. If at all BTC breaks and closes above the $44k then we may possibly see the price rally back to the $47k.
Whereas, on the other hand a rejection could be dead serious for BTC.
The market can move is any direction from here so be careful with your trades.
Like we said, BTC was struggling to hold the $44600 level and the rejection dropped the price all the way to $42500 close to our support level we indicated.
This drop left a long shadow which indicates a strong buying pressure. Currently, BTC is trying to break above the $44k resistance which was previously a strong support. If at all BTC breaks and closes above the $44k then we may possibly see the price rally back to the $47k.
Whereas, on the other hand a rejection could be dead serious for BTC.
The market can move is any direction from here so be careful with your trades.
BTC got rejected from $44k and the price dropped till $40200 breaking down all the supports. We can see the same thing happening here, BTC leaving a long shadow behind. Now BTC is at $42300 trying to reach out to $42600 resistance (previously support).
We have another support forming at $38k. A 2nd rejection will drop the price up to $38k support or even lower.
Now, according to the daily timeframe, $37k to $38k is the last line of defense for BTC. If the price did not hold here then we may possibly see further drop to $35k, $33k, $29k.
The market is seriously taking a bad shape. Remember, in this market, everything happens for a purpose and this current drop as well.
We have another support forming at $38k. A 2nd rejection will drop the price up to $38k support or even lower.
Now, according to the daily timeframe, $37k to $38k is the last line of defense for BTC. If the price did not hold here then we may possibly see further drop to $35k, $33k, $29k.
The market is seriously taking a bad shape. Remember, in this market, everything happens for a purpose and this current drop as well.
Pro Analysis
BTC got rejected from $44k and the price dropped till $40200 breaking down all the supports. We can see the same thing happening here, BTC leaving a long shadow behind. Now BTC is at $42300 trying to reach out to $42600 resistance (previously support). We…
This isn't looking good. We have a support at $40900 but looks like we're gonna drop further down.
If BTC breaks this support then $38k would be the next support.
If BTC breaks this support then $38k would be the next support.
BTC update:
BTC is still under pressure as every moves by the bulls are getting rejected. In our last post, BTC was struggling to keep up with the $40900 support but it dropped further down till $39600. From that level, we saw a quick bounce and currently BTC is yet again struggling to break the $42300 resistance level.
Will BTC bounce back from here or is it just a temporary bounce to break further down?
Well, until and unless BTC breaks above the 21 MA and interrupt the falling pattern, we cannot call it to be bullish.
We will update more on this if we see any confirmation.
BTC is still under pressure as every moves by the bulls are getting rejected. In our last post, BTC was struggling to keep up with the $40900 support but it dropped further down till $39600. From that level, we saw a quick bounce and currently BTC is yet again struggling to break the $42300 resistance level.
Will BTC bounce back from here or is it just a temporary bounce to break further down?
Well, until and unless BTC breaks above the 21 MA and interrupt the falling pattern, we cannot call it to be bullish.
We will update more on this if we see any confirmation.
Pro Analysis
BTC update: BTC is still under pressure as every moves by the bulls are getting rejected. In our last post, BTC was struggling to keep up with the $40900 support but it dropped further down till $39600. From that level, we saw a quick bounce and currently…
BTC quick update:
Finally BTC is above the 21 MA but still it has a bigger challenge to face and that is the $44k resistance. Once if BTC breaks this resistance and closes above it then we consider some bullish confirmation.
The daily close above $44k level would be a good sign. BTC is still under the resistance so be careful.
Finally BTC is above the 21 MA but still it has a bigger challenge to face and that is the $44k resistance. Once if BTC breaks this resistance and closes above it then we consider some bullish confirmation.
The daily close above $44k level would be a good sign. BTC is still under the resistance so be careful.
Like we mentioned in our previous post, BTC has a bigger challenge to face, the $44k resistance level. We can see it in the chart that BTC tried to break the resistance multiple times and it is still continuing to do so. This shows the pressure coming in towards the sellers side which means bulls are trying to dominate the bears. Another bullish sign backing the bulls are the bullish crossover which can possibly happen soon and if everything works well then we may see BTC breaking the $44k resistance before the daily close.
On the other hand, a rejection might lead the price back to $42k.
More updates coming in so stay tuned.
On the other hand, a rejection might lead the price back to $42k.
More updates coming in so stay tuned.
Pro Analysis
Like we mentioned in our previous post, BTC has a bigger challenge to face, the $44k resistance level. We can see it in the chart that BTC tried to break the resistance multiple times and it is still continuing to do so. This shows the pressure coming in towards…
Breakout! All we need is a close above this resistance.
BTC 4 hours chart update:
What a dump it is to start the weekends.
A straight -6.66% dump so far. This is absolutely crazy! Our previous 2 hours chart got invalidated and BTC headed towards the rejection back to $42k and it is not done yet.
Now, in 4 hours timeframe, there is a possibility that BTC can reach $40k to $41k level and then show some positive bounce. That will be a crucial level and BTC must bounce back because if it doesn't then the next support in the chart is the $38k level.
This is the reason why we always tells you to be careful with your trades and use SL to be on the safer side.
What a dump it is to start the weekends.
A straight -6.66% dump so far. This is absolutely crazy! Our previous 2 hours chart got invalidated and BTC headed towards the rejection back to $42k and it is not done yet.
Now, in 4 hours timeframe, there is a possibility that BTC can reach $40k to $41k level and then show some positive bounce. That will be a crucial level and BTC must bounce back because if it doesn't then the next support in the chart is the $38k level.
This is the reason why we always tells you to be careful with your trades and use SL to be on the safer side.
In 1921, American industrialist Henry Ford predicted about the inception of an "energy Currency" that could form the basis of a new monetary system. The new system would replace gold and break the banking giants hold on global wealth. He wants to build the world's greatest power plant and create a new currency system based on units of power, Bitcoin have met those ideas.
Bitcoin is surely replace gold and break the banking giants sooner or later.
Bitcoin is surely replace gold and break the banking giants sooner or later.
12 Terms Every Crypto Trader Should Know
•Fear, Uncertainty, and Doubt (FUD): Spreading of fear and misinformation to gain an advantage.
•Fear Of Missing Out (FOMO): The emotion you feel when you panic buy.
•HODL: Buy and hold on to it for a long time!
•BUIDL: Keep your head down and build the next financial system.
•SAFU: Funds are safe!
•Return on Investment (ROI): How much money you are making (or losing).
•All-Time High (ATH): The highest price ever recorded!
•All-Time Low (ATL): The lowest price ever recorded.
•Do Your Own Research (DYOR): Don't trust, verify.
•Due Diligence (DD): Smart people make decisions based on facts.
•Anti Money Laundering (AML): Regulations that prevent criminals from hiding their money.
•Know Your Customer (KYC): Regulations that make exchanges verify your identity
•Fear, Uncertainty, and Doubt (FUD): Spreading of fear and misinformation to gain an advantage.
•Fear Of Missing Out (FOMO): The emotion you feel when you panic buy.
•HODL: Buy and hold on to it for a long time!
•BUIDL: Keep your head down and build the next financial system.
•SAFU: Funds are safe!
•Return on Investment (ROI): How much money you are making (or losing).
•All-Time High (ATH): The highest price ever recorded!
•All-Time Low (ATL): The lowest price ever recorded.
•Do Your Own Research (DYOR): Don't trust, verify.
•Due Diligence (DD): Smart people make decisions based on facts.
•Anti Money Laundering (AML): Regulations that prevent criminals from hiding their money.
•Know Your Customer (KYC): Regulations that make exchanges verify your identity
Pro Analysis
BTC 4 hours chart update: What a dump it is to start the weekends. A straight -6.66% dump so far. This is absolutely crazy! Our previous 2 hours chart got invalidated and BTC headed towards the rejection back to $42k and it is not done yet. Now, in 4 hours…
BTC price update and the next possible move:
In our previous post, we analyzed that BTC can reach between $40k to $41k and then a positive bounce. BTC dropped till $40683 and then bounced back to $43242.
Currently, it is struggling to break above the 21 MA. If it fails to break above it then we may possibly see BTC dropping down to $41k. A breakout on the other hand will be great.
Keep an eye on the $42k to $43k range.
In our previous post, we analyzed that BTC can reach between $40k to $41k and then a positive bounce. BTC dropped till $40683 and then bounced back to $43242.
Currently, it is struggling to break above the 21 MA. If it fails to break above it then we may possibly see BTC dropping down to $41k. A breakout on the other hand will be great.
Keep an eye on the $42k to $43k range.