BITCOIN - bullish or bearish ?Bitcoin is acting very indecisive last 2 weeks and is making wrinkles for investors.
Currently the price of Bitcoin is 43K$ ,but standing at very important point.
We can go lower to 40K and test last high.
If the price breaks under ema200 it's still okay, but if ema's do bearish cross then
we can say that bear market is here.. maybe for 2 years maybe for 6 months.. :)
For the bullish side we need rejection from ema and then we need to breakout
from this "upside down parabola" move...
But for the long term best you can do is BUY and HODL !
BTFD!
Neutral
BTC/USDT ANALYSISToday we are doing simple analysis of BTC/USDT chart. We will not short or long in this situation, this is simple analysis to make better decision later.
We see BTC dipping further towards the $43k range which indicates a futher downslide is coming, however we do see a bullish cross on the 4HR MACD so if BTC makes a move upwards it will meet resistance
at around $51,131, if it pushes past this resistance and 4HR candle closes above $50,835 then we can enter long target $55k. If BTC continues to drop we will possibly see $42K, I believe it will make a slight move upward and
bounce off resistance and continue it's downward move towards $42k, would be decent short oppurtunity but let's wait for confirmation.
As you see we never take profit at exact resistance and exact support, we take profit slightly before to protect our funds.
Resistance: $50,835/$59,507
Support: $46,832/$42,301
We will sit, watch, and wait from here for any entries
important areaIf the formation breaks down the support trend line and goes under the sma200 it will become very bearish
$MO with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $MO after a Negative over reaction following its earnings release placing the stock in drift C
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$GSK with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $GSK after a Positive over reaction following its earnings release placing the stock in drift B
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$MMM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $MMM after a Negative over reaction following its earnings release placing the stock in drift C
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$RTX with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $RTX after a Positive under reaction following its earnings release placing the stock in drift A
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$SBUX with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $SBUX after a Negative Under reaction following its earnings release placing the stock in drift D
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Silver - Neutral Pre US inflation data We have changed our view from short to neutral as Silver has continued it strong upward momentum and consolidated above resistance at $26.6. There has been an increased demand for Silver for protection against the risk of rising inflation and it's uses for industrial production including electrical vehicles and solar panels. Silver is therefore expected to benefit from Biden's proposed $2.3 trillion infrastructure bill and we await US inflation data tomorrow for any significant price action.
Serious Danger here BTC tankingWe are pretty damn close to having this Ascending Wedge fall completely apart...Formation actually looks good for a short if it does. I am current long, but taking some time to decide if I want to close or at the very least raise my stop. Next day is critical to keeping BTC from collapsing into the low 50s which would naturally add more shorts along the way...Repeated failures to retake and hold above 59K have given this game to the bears.
$AMGN with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $AMGN after a Negative Under reaction following its earnings release placing the stock in drift D
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$CAT with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $CAT after a Positive over reaction following its earnings release placing the stock in drift B
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$PFE with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $PFE after a Positive over reaction following its earnings release placing the stock in drift B
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$XOM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $XOM after a Negative over reaction following its earnings release placing the stock in drift C
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Bitcoin still ranging, What's next?So bitcoin is ranging between the red resistance box, and the yellow up trending support.
What's next?
Well quite simply, we either need a break above the $59,000 to continue our upwards momentum, or... we see a retrace down to $50,100
If we retrace we will need to hold that level to be able to remain in the bull trend. If that breaks, the drop could be catastrophic.
Lets try to stay positive.
The market looks healthy, and this kind of range bound price action is very normal for bitcoin, it is creating a foundation of strength to hold us up under the pressure of the bears.
There are a few factors that are also adding some fuel into our bounce
1. the VPVR point of control seems to be around the $56,000 level, if we can get above this level and remain above, this is bullish
2. the 21 weekly moving average is increasing with rapid succession, if we stay above this, we remain bullish.
3. The yellow up trending support line is a very strong zone of support.
If all 3 of these hold, then we are still in an uptrend with bullish momentum.
When in doubt, ZOOM OUT!
$TXN with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $TXN after a Negative over reaction following its earnings release placing the stock in drift C
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$TMO with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $TMO after a Negative Under reaction following its earnings release placing the stock in drift D
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Trading idea for BNBUSDTWe need to see the breakout of that triangle in order to see BNB moving for a new ATH.