BTC/USD market commentary on 3/3/2023On the daily chart below, we can see that the buyers failed to break the 25K level with conviction and gave way to the sellers. The top came exactly at the previous August 2022 high and the divergence with the MACD signals that the price is likely to fall back to 21500 level which is the first target for the sellers.
There was some uncertainty in the market given the talk of seasonal factors skewing the economic data based on the month of January, but since the S&P Global US PMIs are based on the recent month of February and they came out strong, the market got that extra confirmation that things are really turning for the worse.
On the 4 hour chart below, we can see that the price has pulled back a bit into the 50% Fibonacci retracement level and it’s now eyeing a breakout to the downside of the counter-trendline. The breakout will be the signal for the sellers to start piling in with the target at 21500.
Yesterday, the market got some bad news again from the ISM Manufacturing PMI which showed a notable bounce back into expansion of the “priced paid” sub-index, used as a proxy for inflation. The market is increasingly worrying of another wave of inflation and a more hawkish Fed. These are bearish developments for the crypto market.
On the 1 hour chart below, we have a more closer look at the near-term price action. For the sellers the breakout of the counter-trendline is the one to watch, while for the buyers, the breakout above the 24000 level would give some hope for another test of the 25000 top.
Tomorrow, we have the ISM Non-Manufacturing PMI which is another key economic report. Strong readings will push the prices even lower, while weak data may give the buyers some relief.
Recommendations for trading BTCUSD:
SELL BTCUSD ( 24.200 - 24.000 )
Stoploss : 24.600
Takeprofit 1 : 22.700
Takeprofit 2 : 21.500
Takeprofit 3 : 21.000
BUY BTCUSD ( 20.800 - 21.000 )
Stoploss : 20.500
Takeprofit 1 : 21.700
Takeprofit 2 : 22.300
Takeprofit 3 : 23.500
Note: Always install TP and SL in all cases
Btcusdtbuy
BTC :: BTC movement trend in W time frame .BTC/USDT :::
In general, it has been moving below the middle line of the blue channel for some time, and the trend will change with its failure .
The price may come down a little, but it is very small compared to the growth it will have in the future .
<<< Good luck >>>
#BTC: The bottom is in!🥶Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
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BTC UPDATE
As Per chart #BTC is currently trading in Descending Triangle in Daily Chart which is a bearish pattern.
Now Two Scenarios:-
Scenario 1:- if BTC breakout Upward $20600 and the Daily candle closes above then We can see a 54% Upward move toward $31800
Scenario 2:- If $BTC failed to Hold Recently Bottom or Support Level $18000 then we can see $12000-$13000 Level.
So Watch closely and trade.
Support:- $12800
Resistance:- $20600/$25000/$31800
I know everyone is talking about this descending triangle pattern, but IMO BTC Will Surprise us As It Did Before The Start Of the bull run on July 2O21
Stay tuned
Stay tuned and don’t forget to like this chart.
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#BTC/USDT UPDATE Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider it as financial advice.
#BTC/USDT ANALYSIS
BTC make this ascending triangle pattern currently, it is holding the lower support of this pattern, A sustain break down or breakout will confirm the next the move of BTC.
Let's see how the market will react in few hours.
Stay tuned
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#BTC/USDT UPDATE Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider it as FINANCIAL ADVICE.
#BTC/USDT ANALYSIS
It bounced from the horizontal support and currently it is on the support of this horizontal and trendline. MACD crossover is showing bullish momentum.
IF IT BREAKS LOWER SUPPORT THE CART WILL BE INVALIDED.
We might see some upside move from here but a certain breakout or breakdown will come from its next move.
Stay tuned
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ARE WE REALLY IN A BEAR MARKET ?Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
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#BTC WEEKLY UPDATE
BTC is forming this ascending channel pattern currently it lying on the support of this dotted line we need to close the weekly candle above this dotted line for being bullish if it breaks then we will see a drop up to the lower support.
let's see how the weekly candle closes
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BTCUSD - LONG (BUY)Daily structure broke into an uptrend. But what I am concerned about is it's not the uptrend this buy will be for a long time sell as per the higher time frames. In the meantime, the last sell to buy was collected as per the daily chart. If you look into 4h time frame, you can get an idea of where you want to buy and why it is that because the last sell to buy is there where you can enter the trade for a buy which I marked the entry levels.
Note: Trade at your own risk
Happy trading!
BTCUSDT rises up again?On BTCUSDT we have price action (breaking the latest slope), if we add the normal divergence of buy H1 and the hidden divergence of buy from daily and if the price exceeds 44.000 usd (to be psihological level), then we will have an increase of price, at least up to the previous maximum of 48.000 usd (psihological level).
BTC IS BREAKING OUT BUT NEED TO HOLD THIS LEVEL.Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
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Let’s get to the chart!
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#BTC/USDT ANALYSIS
BTC is still trading above the triangle but the previous candle close does not give such bullish vibes. Leaving a long wick to the upside which is not good at all but as long as BTC trades above $40.5k we are fine.
MACD crossover is showing bullish momentum.
Let's see how the market reacts in a few hours.
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BTCUSDT Analysis (CHRISTMAS REVIEW)Hello friends.
Please support my work by clicking the LIKE button👍(If you liked).Thank you!
Everything on the chart.
Also below I will add alternative options.
Main target at the end of the bull run is the 90-120k area.
In the 90-100k zone will fixation all my purchases.
There is also an alternative option with a global ending diagonal where the top will be the 70-75k zone, I will draw below.
And possible to expand the boundaries of the global triangle (yellow arrow), I will draw a separate chart below.
I congratulate all members of our community with the upcoming year 2022.
I wish everyone big profits and high Accuracy rate of your deals.
And of course always feel positive :)
Merry Christmas & Happy New Year! 💰🎉🎄🎆🎁
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It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to any questions and suggestions.
BTC/USDT 1 HOUR ANALYSISWelcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
I have tried my best to bring the best possible outcome in this chart.
BTC touch the same support level now expecting a bounce from this level,
What's your thought on this?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
BTC/USDT 4 HOUR ANALYSISWelcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures.
I have tried my best to bring the best possible outcome in this chart.
Daily Candle Closed Above the $50,000
BTC is lying in support of the 49k level and we can see in the chart that BTC is making some equal pattern as we saw this year in September and we are also expecting a bounce from this level .
let,s see how 4 hours candle closes.
What's your thought on this?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
BTC/USDT 4 HOUR ANALYSISWelcome to this quick update, everyone.
If you are reading my updates for the first time do follow me to get more complex charts in a very simplified way.
I also post altcoin setups on Spot, Margin, and Futures .
I have tried my best to bring the best possible outcome in this chart .
BTC is gating rejected from the same resistance level let see this time how 4 hours candle closes.
let,s see how 4 hours candle closes.
What's your thought on this?
Do hit the like button if you like this update and share your views in the comment section.
Thank you
Could We See BTC Reaching 66K Mark Again ? 🚀Analysis:
BTC was in a clear upward movement where the trend started at the end of July. The market has posted a series of higher highs and lows where the buyers were controlling the market obviously. At the end of the trend, the price posted a double top or another word the market failed to break the previous all time high and this led to a reversal and a move lower. This might be a new beginning of a new trend in the opposite direction of the main one, which means to the downside. However, if we look closely, at the price action below the highlighted zone (58K Mark) we can understand that the market could reverse and move again to the upside since the buyers reappeared and might overwhelm sellers which could lead to a move higher in the coming days toward the previous all time high. 💡
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