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February 8 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart Bitcoin is up 1.61% over the last 24 hours and rose to an intraday high of $23,452.99. The largest cryptocurrency moved back above $23,000. Recent daily candles and the relative strength index suggest the bullish momentum is cooling. The bulls will try to push the BTC/USDT pair above $24,263 and challenge the $25,000 price level. However, if the price turns down and drops below $23,000, the BTC/USDT pair could find support between $22,800 and the 20-day exponential moving average ($22,605). Today’s Cryptocurrency Headline Lido Announces V2 Upgrade Plan Lido, the liquidity staking protocol, announced the V2 upgrade plan, which will allow stETH holders to withdraw directly from the Beacon Chain at a ratio of 1:1. Additionally, Lido announced a new feature called Staking Router, A new modular architecture that allows anyone (incl. solo stakers) to become a Node Operator. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
1
Outlook on BTC ( 5/2/2023 ) Swing trade has been a success as of today since longs was called out in late November leading into December. Using BTC as reference to all other crypto coins, we are up a solid 48.65%. Do i believe we will continue higher ? yes i do. Fundamentally the market sentiment has just started to shift. The relieve rally that we are experiencing now was expected but will be short lived. My ideal take profit levels has been stated above and i would not mind scaling out alittle at its current price point as we are having slight exhaustion due to a technical reason of BTC being at a major resistance now. Upon a break of this level would give us another leg up which will ideally hit our take profit targets as marked up above. With both fundamentals and technical aspects showing us a bullish bias, i would only shift and scale out all my long positions if there is a fundamental shift. Which i do believe will happen but only in the mid year. ( likely recession ) I may be wrong hence scaling out and bagging alittle profits at current price is a good idea.
BITSTAMP:BTCUSDLong
by CJ_GOLDPIPS
5
Bitcoin -> More Potential To The UpsideHello Traders, welcome to this free and educational multi-timeframe technical analysis . Over the past four weeks, Bitcoin had a massive rally towards the upside, rejecting the very strong psychological 16.000 area. I mentioned this rally towards the upside over and over again, since Bitcoin was also retesting the previous all-time-high of the last crypto cycle in 2018, which is now turned very strong support. Considering that crypto pumps can last longer than most people think, I am now just waiting for a classic break and retest from a daily perspective to go long on Bitcoin. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
25
bitcoin's first green monthly heikin-ashi candlehistory seems to suggest that bitcoin's first "green" monthly heikin-ashi candle following 12 months+ of absolute carnage marks the birth of a new bull cycle. it is important to note that this does not indicate the bear market's bottom, but rather a decent confirmation that we are currently transitioning out. the recent print of january 2023's green heikin-ashi candle may very well be a positive omen suggesting where we're all headed in the not so distant future credit to ben cowen of intothecryptoverse.com, who seems to be the first individual to discuss using monthly heiken-ashi candles as a tool to understand where we stand in any part of a cycle.
INDEX:BTCUSDLong
by gapandsnap
Bitcoin Bitcoin support levels - $20,400 and $20,000 strong Support (is Ka Matlab yahan buyers hain) Bitcoin resistance - $20,800 and $21,000 strong resistance (is Ka Matlab k yahan sell karney walay hain, sell hoga bitcoin) Market depends upon Bitcoin movement so trade with risk management. ——————————————————————— Analysis: Bitcoin price is currently consolidating below $20,650. RSI also shows Hidden bullish divergence which is a positive sign and soon we may see some bullish movement in BTC price. The next major resistance is still near $21,000, above which the price may perhaps start a fresh surge BTC closed its daily candle red at $20,483. Manage your risk according to mentioned support & resistance levels Please be aware that the market will be volatile today as FED interest rate decision will be released at 11 PM Pakistan standard time, Exchanges will try to hunt stop loss so avoid high leverage trade. Today's Cryptocurrency Prices by Market Cap The global crypto market cap is $1.01T, a 1.38% decrease over the last day. The total crypto market volume over the last 24 hours is $72.79B, which makes a 17.36% decrease. The total volume in DeFi is currently $3.23B, 4.44% of the total crypto market 24-hour volume. The volume of all stable coins is now $65.70B, which is 90.26% of the total crypto market 24-hour volume. Bitcoin dominance is currently 38.85%, an increase of 0.21% over the day.
by Waqar212
Generational wealth in the making - my point of viewThis is not a financial advice. This is just my playout for the BTC purchases in the next year. I've armed myself with the patience, stacking enough resources to cover my targets. My whole theory is based on negative market segment - I am counting that global financial meltdown is in front of our eyes. Taking that into account, I think some sort of revolution will play next - and my bets are on blockchain space - mostly on BTC and ETH from speculative point of view. Orange lines represents major BTC supports/resistances. Will wait till price drops to those lines and budget them as following: - Target 1 (1 BTC = 17,000 eur) - 15% of allocated funds - very likely will happen - Target 2 (1 BTC = 9,400 eur) - 35% of allocated funds - likely will happen - Target 3 (1 BTC = 4,800 eur) - 35% of allocated funds - unlikely will happen - Target 4 (1 BTC = 2,800 eur) - 15% of allocated funds - very unlikely will happen The same strategy I will put for my ETH purchases which I analyze in my other idea. The funds that remains free and do not touch certain Target from mentioned ones above, I will put according to my earlier targets after some time period. Full disclosure: THIS IS NOT A FINANCIAL ADVICE. THIS IS PURE SPECULATION FROM MY POINT OF VIEW AND MARKET KNOWLEDGE.
by CroCryptoTrader
BITCOIN: STILL UNDER PRESSURE.Hello traders, I hope you guys are enjoying your weekend. Here's a quick update on BTC in a lower timeframe. Timeframe: 6 hours. Update: In my previous daily TF update, I mentioned $23150 as a slight resistance that BTC has already crossed and so far it is still above it. Current scenario: In this 6-hour TF, BTC has not yet broken above the resistance trendline. It showed some small fakeout but the daily close dropped the price inside the trendline. According to this chart, a bullish rally towards $28k won't get approved unless BTC breaks and closes above the trendline. Until then, the chances of breaking down still continue. Key level: $24k resistance level. Conclusion: To continue a bullish rally BTC must stay above the $23k level after the weekly close. Let me know what you guys think about the market. I would like to know your opinion. Thank you and have a great hour ahead.
COINBASE:BTCUSD
by Dexter_The_Trader
10
Revised Bitcoin Trend analysis on Weekly Time frame If BTC consolidate between 28643 to 32485 and it breaks upside will lead to Target of 37900 to 38000 If BTC consolidate between 28643 to 32485 and it breaks downside 28600 It will lead to downward Journey very fast. below are downside Targets 1st 25475 2nd 19300 3rd 12900 (In case drastic changes in global environment) Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any trading decision. Leave a comment that is helpful or encouraging. Let's master the markets together.
BYBIT:BTCUSD.P
by sbkurandwad77
Which support zone does BTC have to reach on to recover up?On 5th of may bitcoin was trading at $39600.Decreasing from that point,it had fallen to the lowest of $25600 on 12th of may.this all happend between just 7 days.then,bitcoin surged a bit next day and since then bitcoin is trading between $29000 and $31000 till now.it has been seven days so far. I am not a professional trader,but according to my perspective,if bitcoin breakes the resistence of $31000 it can go back to the price of $40000.
BITSTAMP:BTCUSD
by aashumaan
1
#Bitcoin has reached 46K and even 47K. What now? #BTC is now trying to close its first full candle above bull market support band, which is now at 44.7K and also matches the 200 day EMA and the 50% Fib. Retracement traced from July 2021. We're even close to the 200 day SMA at 48.2K, which is the last moving average to conquer and just 2 days away from our yellow box, where we pointed out now weeks ago those were the dates where we could see a potential trend reversal (March 30th - April 3rd). We have multiple levels to conquer to the upside, but 2 of the most important are 50% Fib. Retracement and 50% Fib. Extension. The first one would imply an upside continuation to the prices we know from last cycle. The second one, could imply a potential new all time high coming. Now, this won't happen without corrections or retracements and that's healthy for the market. So, what do we have to watch closely now? First of all, volume. Volume Oscillator shows volume going down in the last few days, while price is going up. And that's not good, because the volume should always rise in a rallying market. If it doesn't, the chances of a bull trap increases. MACD, Stochastic and RSI: an Stochastic and RSI rise is expected during a rally, but it's much healthier if the rally occurs with these indicators outside the overbought range. Stochastic is already overbought, RSI is almost there and MACD is climbing to a potential bearish cross. Short term price action (4H and 2H charts): if we take a look at both charts we can see volume is going down pretty fast, which is no good at all. Remember: volume is the blood of the market, without enough volume, no rally is sustainable. Also, Open Interest (Cryptoquant) is now at 14.5B with a huge spike in the last days. It's not something to be concerned yet because certain rise in OI is expected, but remember: last 3 bull cycles started with OI between 5-8B and last 3 big corrections (30/50% dips) started with OI between 14-16B. Nasdaq is also something to watch, because crypto markets and tech stocks have shown a really strong correlation during the years. The thing is Nasdaq is not yet above 20W SMA or 21W EMA (bull support), but is getting there. It has a strong resistance about 14871, and bull support band is around 15000. MACD, Stochastic and RSI on Nasdaq look much better than Bitcoin's, with the RSI even in normal levels. So, what all this could mean? 1 | Although bitcoin has surpassed 46K, it's still too early to say that the bull market is back. 2 | I think it's prudent to wait at least 2/3 days to see if #BTC continues to close candles above 46K. 3 | We will likely see a correction after this "rally" today, since the volume is not following and Nasdaq still has some barriers to overcome. LAST | I think the bull market is going to arrive and maybe even on the dates indicated (yellow box) but I would wait a few more days before diving into the market. If you enjoyed this, just show your appreciation following/retweeting on Twitter, here, leaving and comment or just a like. Have a nice week,
by BlackTieCrypto
4