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#Bitcoin soars, rising 7% as BTC Reverses from $22.5kPast Performance of Bitcoin Bitcoin prices exploded on August 10, surging seven percent in the past trading day, bouncing from around a critical support level as per the formation in the daily chart. Currently, BTC is trading at new H2 2022 highs and may increase, building on yesterday's gains and aligning with the primary trend established at the tail end of July 2022. At spot rates, traders may look to load the dips, targeting immediate reaction points in the short and medium term. #Bitcoin Technical Analysis From the daily chart, bulls on August 10 reversed losses of August 9, pushing back prices into the primary uptrend established on July 27. Since yesterday's bull bar has rising trading volumes and is wide-ranging, rejecting bear attempts early this week, traders may ramp up with immediate targets at $28k. In this bullish continuation formation, the coin may surge to $32k in a welcomed recovery. On being cautious, any dump below August 9 lows will unwind progress made, diffusing bulls' upside momentum. What to Expect from #BTC? News of inflation cooling down in the U.S. saw crypto and BTC prices expand. As from the daily chart, BTC may register new H2 2022 lows, breaking above July 2022 highs in a bullish continuation pattern. Resistance level to watch out for: $28k Support level to watch out for: $22.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin drops 4%, BTC Bulls Fail to Clear July HighsPast Performance of Bitcoin Bitcoin remains stuck in tight trade ranges when writing on August 10. From the daily chart, BTC prices pulled back from this week's high and are down four percent in the past 24 hours. Even though buyers have the upper hand and prices are trending inside conspicuous, high-volume bull bars, a clear close above July 2022 highs may see price rip higher, floating to mid Q2 trade range. #Bitcoin Technical Analysis BTCUSDT prices are inside a rising channel but are down four percent from recent highs. Technically, buyers are in control only, provided prices are above $22.5k in the short term. The reaction line marks July 27 lows and is the anchor of the recent leg up, marked by the July 27 and 28 bull bars. From an effort versus results perspective, buyers have the upper hand, permitting aggressive traders to buy the dips. However, considering the series of lower lows versus the upper BB and possible cool-off after a 37 percent surge from 2022 lows, a clear trend may emerge above $24.5k. A high volume close above $24.5k confirming gains of July 27 may mark the beginning of another wave higher towards June 2022 peaks. What to Expect from #BTC? Traders are upbeat, but price action hints of weakness. A follow-through of August 8 losses may see BTC slip to $22.5k in the short term. On the flip side, a welcomed recovery above July highs may see conservative traders flow back in a bullish continuation formation. Resistance level to watch out for: $24.5k Support level to watch out for: $22.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin is Solid Firm, BTC May Clear $24.5kPast Performance for Bitcoin Bitcoin prices could add to their gains, as per the formation in the daily chart. The coin is steady on the last trading day, adding four percent week-to-date. After a brief consolidation in the second half of last week, spilling over the weekend, BTC rose on August 8. With prices strengthening, buyers will likely push the coin above $24k, re-invigorating optimistic traders aiming for $28k or better in the medium term. #Bitcoin Technical Analysis The BTC bullish breakout of late July 2022 is valid at spot rates. Technically, the retracement of prices from recent peaks to slightly below $23k indicates that the retest is complete. Currently, the third phase of a breakout formation, the bullish continuation stage, could be in development. Aggressive traders may load the dips above $22.7k and $23k, targeting $24.5k and later $28k. On the other hand, gains above $24.5k and July 2022 gains may trigger another wave of higher highs towards $28k in confirmation of the July 27 and 28 breakout. What to Expect from #BTC? Buyers are upbeat when writing, expecting more gains. However, a close above $24.5k with rising volumes may draw even more buyers, with the resulting demand initiating the next leg up. Any rejection below $22.7k would slow the wave higher, invalidating the gains of late July 2022. Resistance level to watch out for: $24.5k Support level to watch out for: $22.7k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Consolidates but bullish, Primary Support at $22.5kPast Performance of Bitcoin Bitcoin is relatively firm when writing. After encouraging gains on August 5 and rejecting lower lows of August 4, there have been no confirmations of the uptrend. Therefore, while buyers are optimistic, price action doesn't indicate strength. The current uptrend will be valid if there is a sharp close back above $24k, ideally with expanding trading volumes. #Bitcoin Technical Analysis Bitcoin is consolidating inside a narrow trade range within a bullish breakout formation inside July 27 and 28 bull bars. The immediate support lies at $22.5k and $22.7k, marking August 4 lows. As long as prices are above this reaction level, every low is an opportunity for aggressive buyers to ramp up. However, there will be clearer entries above $24k and even July 29 highs if there is confirmation of August 4 attempts. A breakout to print new August 2022 highs may pump BTC back to $28k. On the flip side, losses below $22.5k may force the coin towards $21k and later $20k in a bear continuation formation. What to Expect from #BTC? Buyers are confident, but prices are wavy above $22.5k. Even so, Bitcoin is within a bullish breakout formation, and the rejection of lower lows in the second half of last week completed a retest. Resistance level to watch out for: $24.5k Support level to watch out for: $22.5k [b ]Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin Wavy but will BTC Bulls Break $24.5k?Past Performance of Bitcoin Bitcoin prices are wavy when writing, dropping four percent in the last trading week. As from the arrangement in the daily chart, the coin is steady above the $22.7k primary support and July 28 lows, recovering after losses of August 4. #Bitcoin Price Analysis Bears have the upper hand from the top down analysis, and the coin may drop in the days ahead if buyers don’t follow through on today’s gains. Currently, as buyers reject lower prices, it is imperative that buyers force the coin above the $24.5k level for trend continuation. Meanwhile, if bears flow back and take charge, the immediate sell target will be at $21k or July 27 lows. If sellers further press on and break below the ascending channel, the coin could plummet to $18.8k in a bear continuation formation, confirming losses of mid-June 2022. What to Expect from #BTC? The Bitcoin tide will only change for the better once there are sustained gains above $24.5k in a breakout above the rising channel. Any confirmation of August 4 losses below $22.7k may weigh negatively on optimistic bulls, possibly forcing BTC towards 2022 lows. Resistance level to watch out for: $24.5k Support level to watch out for: $22k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin Flatlines above $23k, BTC remains Firm in a RetestPast Performance of Bitcoin Bitcoin prices are within a tight trade range when writing, stabilizing on the last trading day but trading above the $23k level. Technically, the BTC uptrend remains firm, but buyers must close above last week's highs for a clear trend definition. Notably, a high volume break above $24.5k and above the current rising channel may spur demand. The influx of buyers may lift the coin back to early June 2022 territory. #Bitcoin Technical Analysis From the daily chart, BTC is firm, and buyers stand a chance. Currently, prices are above the $22.7k and $23k support level and within the July 28 bull bar, a net positive. Based on this formation, traders may search for loading opportunities provided prices are steady inside the rising channel and, most importantly, within the July 28 candlestick. This is because sellers have failed to conclusively reverse losses, an indicator that the upside momentum is strong, and prices may tick higher. The immediate term resistance level is $24.5k, a reaction level that should be broken for conservative traders to flow back and commit with targets at $28k or better in the medium term. Any price dump below $22.7k will nullify this preview, setting the pace for possible lower lows in the short term. What to Expect from #BTC? Buyers are optimistic, and the recent dip to critical support in a retest may offer entries to double down. As long as prices trend above the July 28 bull bar and $22.7k, buyers are in pole position and may reclaim $24.5k in the days ahead. Resistance to watch out for: $24.5k Support level to watch out for: $22.7k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Cooling Off, Critical Support at $23kPast Performance of Bitcoin Bitcoin prices are within a tight trade range above $23k when writing. However, despite confidence amongst traders, buyers have failed to conclusively close above last week's highs. Given the BTCUSDT candlestick formation, prices may retrace in the short term in sync with the formation in the NY Session of July 30. The immediate reaction point is at July 28 low at $22.7k. #Bitcoin Technical Analysis BTC prices are within a bullish breakout formation above $23k. Even so, bulls have failed to follow through on gains of the second half of last week, with prices falling on July 31. Still, since Bitcoin is within the July 28 and 29 bull bars and the recent bear bars of July 30 and 31 have relatively low trading volumes, buyers have the upper hand from an effort versus results perspective. In the immediate term, prices may recoil towards $23k, but every low should be a loading opportunity, provided Bitcoin holds above $22.7k. Any surge above $24.5k with high trading volumes may see Bitcoin erupt to $28k in a bullish continuation formation. What to Expect from #BTC? Traders are confident, but sellers are firm, reading from the formation in the daily chart. The reaction at $22.7k and $24.5k would shape the short to medium-term price trajectory. Resistance level to watch out for: $24.5k Support level to watch out for: $22.7k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin Bulls Blooming, is BTC Back on Track to $30k?Past Performance of Bitcoin The confirmation of July 27 gains yesterday hints that Bitcoin buyers are determined and the short to medium-term macro conditions support bulls. Currently, BTC is up four percent against the USDT and is likely to blast above $24.3k in the short term as prices bottom up after steep losses in H1 2022. Bitcoin Technical Analysis Presently, prices are firm and buyers are confident, boosted by improving trader sentiment and changing macro factors. Amid this revival, BTC traders may find entries to double down provided prices trend above the $22k reaction level. Alternatively, a solid close above $24.3k may provide an impetus for the next leg up with targets at $28k and later $30k. This outlook will change should BTC tank below $20k, unwinding the reinvigorating gains of July 27. What to Expect from BTC? From the BTCUSDT price chart, buyers are upbeat and the short-term trend is defined. Further gains will lift BTC to new July 2022 highs, setting the stage for a possible rally back to early June 2022 territory. Resistance level to watch out for: $24.3k Support level to watch out for: $22k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
#Bitcoin Momentum Shifts, BTC Buyers Aiming for $24kPast Performance of Bitcoin Bitcoin prices exceeded trader expectations on July 27 when the coin soared 10 percent versus the USDT, reversing from lows of around $20.8k. From the daily chart, the coin is trading above $23k and is back into the rising channel above the critical $22k level. If bulls of July 27 flow back, Bitcoin would have completed the retest of the previous resistance-turned-support, and the coin may reclaim last week's highs. #Bitcoin Technical Analysis After disappointing losses in the first half of the week, Bitcoin bulls have their groove back on after gains on July 27. At spot rates, bulls are back in contention and the upside firm. Since losses of July 26 were fully reversed and prices back above $22k, aggressive traders may load the dips with tight safety nets below yesterday's bullish engulfing bar. The immediate target would be $24k, registered last week. Conversely, if there is heightened volatility today, any dips below $22k would pour cold water on bullish advances. What to Expect from #BTC? BTC prices have been volatile, and the crypto community was generally apprehensive, unwilling to commit because of fundamental factors. However, with the news out and prices unexpectedly pumping, there could be more upsides for BTC in the days ahead. Resistance level to watch out for: $24k Support level to watch out for: $22k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
Bitcoin Forms a Bull Trap, BTC Prices May Drop to 2022 LowsPast Performance of Bitcoin Bitcoin is relatively weak at spot rates, dumping 13 percent from recent peaks as sellers flow back. As per the arrangement in the daily chart, the recent break above $23k is turning out to be a bull trap considering the rapid sell-off of July 26. If sellers press on today, BTC may drop to $18.8k in a retest, dashing bulls' hopes. #Bitcoin Technical Analysis Currently, BTC is steady, hovering at yesterday’s close in a bear formation. Notably, prices are at the 61.8 percent Fibonacci retracement of the trading range from July 13 to 20. Historically, crypto price corrections tend to force prices towards the 78.6 percent price level from peaks. This reaction point flashes with the $20k level as per the BTCUSDT arrangement in the daily chart. Therefore, considering the dump on July 26 with high trading volumes, traders may find entries on every attempt higher on lower time frames with targets at $20k and later $18.8k if sellers follow through. What to Expect from #BTC? The path of least resistance in the short to medium term is southwards. As such, bears have their eyes on $20k unless there is a shift in trend above $22k and, on the safe side, $23k. Accordingly, traders may find entries on every pullback to unload, targeting 2022 lows and riding the current sell-off. Resistance level to watch out for: $22k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
Bitcoin Slumps, BTC Bulls Unable to Clear $22kPast Performance of Bitcoin Bitcoin prices are back in red, dropping three percent on the last trading day as per the performance in the daily chart. Overall, prices are trending below the $22k and $23k critical resistance levels. Notably, the failure of bulls to soak in the strong liquidation pressure means sellers have the upper hand in the short term. As per the arrangement in the daily chart, Bitcoin's primary support is down back at $20k. How prices react at this crucial level in the short term will determine whether the coin will recover or crash, aligning with the price action of the first half of June 2022. #Bitcoin Technical Analysis From a top-down preview, sellers are in control. Currently, following the losses of July 25, it is highly likely that BTC prices will continue slumping, sliding further in a bear continuation formation. This can change if prices surge above the $22k resistance level and buyers sustain prices above this mark. A notable observation is that the July 25 bear bar is engulfing and has relatively high trading volumes pointing to participation. Since bulls failed to follow through on July 18 and 23 gains above $23k, traders may find unloading positions with the target set at $20k. The sell-off will especially be accelerated if prices plunge below the July 18 anchor bull bar. What to Expect from #BTC? Even though traders are optimistic, fundamental factors are unwinding progress made in the first half of last week. Immediate support lies at around July 18 lows. Any dump below the latter may signal bear trend continuation towards 2022 lows. Resistance level to watch out for: $22k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
Bitcoin Recoils, BTC is within a Bear Flag Breakout PatternPast Performance of Bitcoin After comforting gains on July 24, Bitcoin prices fell on early July 25 below $22k but remained within the July 18 bull bar in a bullish breakout formation above the bear flag. BTC is currently down four percent versus the USDT on the last trading day, slightly below the $22k primary support. Considering the formation of BTC prices and the rejection of lower lows over the weekend, traders may buy the dips at spot rates or at around July 18 lows in anticipation of buy trend continuation. #Bitcoin Technical Analysis From a top-down analysis, Bitcoin is bearish. However, the surge above $23k to $24k last week forced the coin above a multi-week trade range and bear flag. Even so, at spot rates and BTC at around the $22k primary support within the July 18 bull bar, there could be a chance for aggressive BTC bulls to buy on dips, provided today prices float above $22k. On a more cautious approach, traders may wait and find entries above last week's highs at $24k. The spike above $24k would confirm buyers of July 18 from an effort versus result perspective, setting the base for another leg up towards $28k in the medium term. Conversely, if bears press on, pinning BTC below $22k by today’s close, the odds of prices slumping back towards $20k—or lower, would be elevated. What to Expect from #BTC? Though prices appear to be trending higher, upcoming macro events may counter the current solid momentum. Even so, if BTC steadies above $22k and $20k, bulls would still stand a chance in the medium term. Resistance level to watch out for: $23k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
Bitcoin is Firm, BTC May Register New Weekly Highs above $24.4kPast Performance of Bitcoin In the past 24 hours, BTC is stable, rejecting bear attempts for lower lows. At spot rates, Bitcoin is also trending above the primary support, former resistance, at $23k, with the July 21 bar closing with a long lower bar. This signals increasing demand for the coin in the last trading session, a move that could spill to support today's prices. #Bitcoin Technical Analysis Technically, Bitcoin is still within a bullish formation pattern following gains on July 19. Besides, since prices are still within the July 19 trade range, traders may search for entries on every correction with targets at $28k in the medium term. This preview is valid from a volume analysis perspective and has been confirmed with the rejection of lower prices on July 21. Any spike above $24.4k may trigger more demand for BTC, accelerating the leg up. What to Expect from #BTC? Bulls are currently in control and the trading sentiment is shifting to favor the upside following refreshing gains this week. If there is a follow-through of mid-week, BTC may soar to $28k or better. Meanwhile, an unexpected dump below $23k and $22k will nullify this bullish forecast. Resistance level to watch out for: $24.4k Support level to watch out for: $22k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin in a Breakout Formation, will BTC Bulls Reject $22k?Past Performance of Bitcoin The Bitcoin price is within a bullish breakout formation as per the candlestick arrangement in the daily chart. All the same, prices have contracted even after solid gains in the first half of the week. Since buyers have sustained prices above $22k and within the July 19 bar, the path of least resistance remains northwards in the short to medium term. #Bitcoin Technical Analysis As per the BTCUSDT pattern in the daily chart, buyers have the upper hand despite the contraction of July 20. Because prices are inside the bullish bar of July 19 and volumes of the wide-ranging bar are relatively high, every low above the $22k mark may present loading opportunities for aggressive traders. Their immediate target will be yesterday's highs of around $24.5k, as buyers anticipate more gains in the subsequent session following the surge above the bear flag. Supporting this preview is that the July 19 bar is riding the upper BB, signaling high upside momentum. Even so, sharp losses reversing recent gains and pushing prices below $22k will nullify the bullish preview, swinging price action back to favor bears. What to Expect from #BTC? Prices are bottoming up and above the bear flag. By adding roughly 30 percent from 2022 lows, buyers are still in control. They will cement their position if there are notable gains above the $24k level. Resistance level to watch out for: $28k Support level to watch out for: $22k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin Price Rallies 21%, BTC May Retest $28kPast Performance of Bitcoin Bitcoin bulls are in the driving seat, surging when writing. Notably, BTC is trading above the $23k level as prices recover from 2022 lows. Since bulls have cleared two critical resistance levels (now support), the tide appears to be changing. Subsequently, risk-off traders can buy the dips in a bullish breakout formation targeting $28k in the short term. #Bitcoin Technical Analysis BTC candlestick arrangement favors buyers at spot rates. The spike to above $23k on July 19 was marked by high trading volumes and a bullish engulfing bar, indicating confidence. Therefore, since the trend is defined and BTC prices are above the bear flag clear in the daily chart, there could be an opportunity for traders to ramp up, targeting $28k in the medium term. This bullish preview is, however, valid as long as prices are held above the $22k support. What to Expect from #BTC? Buyers have the upper hand at spot rates, breaking above the $22k and $23k in quick succession. As price action is defined and Bitcoin bottoms up from 2022 pits, aggressive traders could have more headroom in the short term. Resistance level to watch out for: $28k Support level to watch out for: $22k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
Bitcoin Breaks out after Ranging, BTC Buyers Target $23kPast Performance of Bitcoin The Bitcoin price is firm at spot rates, adding double digits in the past trading week and notably above the primary liquidation level at $22k. Since the break above $22k is with increasing trading volumes validating the bullish engulfing bar of July 13, traders may search for entries in lower time frames. With this, buyers appear to be in control, and prices are trending above a critical reaction level, signaling strength in the short term. #Bitcoin Technical Analysis Currently, BTC prices are turning the tide, bottoming up after strings of discouraging lower lows. As bulls take charge, unwinding losses and thrusting prices back to the first half of the June 2022 zone, aggressive traders may search for entries. Thus far, BTC prices appear to be aligning with the upper BB, a hint of strength, suggesting strength with further supporting confirmation being the wide-ranging, bullish breakout bar of July 18. The immediate target will be $23k, the main trigger line, and later $27k, the June 2022 highs. What to Expect from #BTC? Buyers are confident, and price action is relatively firm after deep losses. Since the immediate term trajectory is emerging to be bullish with decent participation, traders may find loading opportunities only valid above the $19.5k support level. Resistance level to watch out for: $23k Support level to watch out for: $19.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer
1
Bitcoin Rising as a H&S Pattern Forms with Resistance at $22kPast Performance of Bitcoin Bitcoin prices are roughly 22 percent from 2022 lows when writing. However, prices are still within a broader $3.2k trade range with an identifiable liquidation line at $22k. There could be more gains in the short term if there is a decisive, high volume close above immediate resistance levels, clear in the daily chart. Presently, buyers appear to be in control. #Bitcoin Technical Analysis There are hints of strength at spot rates. However, there is also the risk of the dreaded head and shoulder pattern forming if there is no solid push above $22k. Notably, the upside momentum seems to be slowing down in the daily and 4HR charts. The primary resistance level stands at $22k. Risk-on traders can therefore wait for a solid close above this line for trend definition, with the immediate target being $23k if buyers take over. Conversely, any contraction from last week's highs would complete the head-and-shoulder pattern in a bearish pattern, amplifying the risk of BTC cratering back to $19k. What to Expect from #BTC? Bitcoin is at a crux when writing, reading from the formation in the daily chart. For Bitcoin's uptrend to take shape, there must be a solid close above $22k with increasing participation to indicate trade conviction and signal bottoming prices. Losses below $20.5k may puncture the upside momentum, even triggering a sell-off. Resistance level to watch out for: $22k Support level to watch out for: $20.5k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
1
#Bitcoin Inching Higher as BTC Bulls Steady above $18.8kPast Performance of Bitcoin Bitcoin bulls are firm when writing, inching higher and building on July 13 gains. Even though prices are within a broader $3.2k trading range with clear resistance and support levels at $22k and $18.8k, buyers have the upper hand in the short term. Still, prices must break above the current distribution and cancel out the bearish outlook from early June 2022. #Bitcoin Technical Analysis Bitcoin prices are trading in a tight range, and buyers have the upper hand in the short term. This preview holds provided prices are held above the $18.8k multi-week support level. Based on the BTCUSDT formation in the daily chart, traders may find entries on every dip with the immediate target at July 2022 highs at $22k. This preview is valid because prices are building on gains registered on July 13. Therefore, in a three-bar bullish formation pattern, traders have a chance to buy the dips. On the reverse side, losses below $18.8k would cancel the bullish outlook, paving the way for even more drawdown in the short term. What to Expect from #BTC? Depending on the eventual breakout direction, Bitcoin bulls are steady and are in control in the short term. Bears have the upper hand from a top-down analysis point of view. Resistance level to watch out for: $22k Support level to watch out for: $18.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin in a $3k Zone as BTC Stabilizes, adding 3%Past Performance of Bitcoin Bitcoin prices are wavy when writing but stable above last week's lows despite macro factors that saw USD rapidly strengthen on July 13. With steady prices and Bitcoin bulls soaking in strong selling pressure, buyers may stand a chance. So far, BTC prices are above the $18k and $19k primary support, albeit with high volatility. #Bitcoin Technical Analysis From the Bitcoin technical analysis in the daily chart, the main support lies at $18.8k. If prices recover from this line, there will be a triple retest, indicating strong support and an anchor for possible higher highs. Before then, traders can wait for a clear trend definition. Losses below last week's low may see BTC crater towards $17.6k. Conversely, a bullish engulfing bar reversing July 12 bear bar may draw demand, lifting BTC back to $22k. What to Expect from #BTC? Prices are at a critical reaction level at spot rates. Depending on breakout directions, losses below $18.8k may heap more pressure on bulls, possibly forcing prices back to 2022 lows at $17.6k. Resistance level to watch out for: $22k Support level to watch out for: $18.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Recoils With Rising Volumes; BTC May Slide Below $19kPast Performance of Bitcoin Bitcoin prices are down three percent in the last trading day and are under immense selling pressure. With every lower low registered, bulls' confidence continues to wane as the chance of BTC slumping lower to 2022 highs rise. Currently, the immediate support zone lies at $18k and $19k; if broken, prices could further capitulate. #Bitcoin Technical Analysis Gains of the first week of July were with relatively low trading volumes, an indicator that the leg up was a fake-out and a bull flag. The current sell-off is with markedly high trading volumes pointing to strong participation, shifting momentum to favor sellers while pointing to exhausted bulls. Accordingly, aggressive sellers may find entries on every retracement higher towards the $20k level, targeting $18k. This preview will only shift once prices rise above $22k and $23k. What to Expect from #BTC? Bitcoin prices may likely dump below last week's lows as the tide changes for sellers. Rejection of lower prices may revive demand, slowing down aggressive sellers. In the immediate term, primary support lies between $18k and $19k. Resistance level to watch out for: $22k Support level to watch out for: 19k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Printing Lower, BTC Prices Rejected from $22kPast Performance of Bitcoin The Bitcoin price is stable when writing, dropping as bulls have failed to push prices above immediate critical liquidation levels. From the daily chart, there is a three-bar formation pointing to weakness in the uptrend even though bulls appear upbeat. The short-term support line is at $20k, while buyers expect trend continuation if prices soar above $22k. #Bitcoin Technical Analysis Buyers are confident of a recovery. Even so, their expectation isn't in line with the formation in the daily chart. As long as BTC is below $22k and $23k, bears are in control from a top-down analysis. If BTC prices drop below $20k, last week's surge towards $22k would be canceled as the three-bar bear formation pattern of July 7 to 10 will be validated. In that case, the odds of BTC crashing to $18.8k and later $17.6k in a bear continuation will be high. Conversely, any unexpected surge above last week's highs would solidify the uptrend, paving the wave for another leg up towards $28k or better. What to Expect from BTC? Bears are hard to shake off, reading from the development in the daily chart. Currently, prices are trending within a tight trade range with resistance at $22k, at around last week's highs. Resistance level to watch out for: $22k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin snaps back to Range, will BTC hold above $20k?Past Performance of Bitcoin Bitcoin is stable at spot rates, trailing the USDT and recoiling from the $22k region despite optimism from the broader trading community. Technically, buyers have the upper hand at spot rates. Even so, the failure of bulls to break above the trigger line and, worse, reverse losses of July 10 may lead to more liquidation in the short term. On the brighter side, buyers have a chance provided prices still trend above the $20k primary support. #Bitcoin Technical Analysis The path of least resistance is northwards, at least in the short term. Buyers have resistance at $22k, while support is marked by the dynamic middle BB level and the $20k line. Since BTC prices are trending inside the July 7 wide-ranging bull bar and trading volumes are relatively low, traders can load the dips targeting $22k and $23k in the short term. On a more cautious side, the recent lower lows versus the upper BB coupled with drying volumes and the failure of bulls to clear $22k present hindrances that may embolden bears. Therefore, there will be a clear opportunity for the risk-on traders above $22k and $20k. Ideally, a break above $22k and later $23k with expanding trading volumes may see BTC rally to $28k. What to Expect from #BTC? Traders are confident, but BTC price action is bearish, and bulls are struggling. For now, aggressive traders can load the dips if prices are above $20k and the middle BB. Resistance level to watch out for: $22k Support level to watch out for: $20k Disclaimer: Opinions expressed are not investment advice. Do your research.
by Bitcoin_Analyzer
#Bitcoin Bulls Firm, will BTC Prices break above $23k?Past Performance of Bitcoin Bitcoin, like the rest of the crypto market, is stable and in green in the past 24 hours. Considering the arrangement of the BTC chart, the short-term trend is bullish only as long as prices are above $18.8k. Since prices are steadying and edging higher above recent lows, there could be an opportunity for buyers to double down in smaller time frames, targeting $22k and $23k, the immediate resistance levels. #Bitcoin Technical Analysis From the daily chart, BTC prices are in a tight trade range, capped inside the July 1 trade range. With BTC in green on the last trading day, rejecting bears of the previous week, traders may find entries above $18.8k. In this formation, their immediate target would be $22k and $23k, as mentioned earlier. A break above $23k would relieve buyers and possibly anchor the next leg up towards $27.7k—May 2022 lows. Depending on how price action pans out, the path higher or lower would be fueled by macro factors. Accordingly, risk-on traders can wait for a clear trend definition above $23k or $18.8k—or lower—before committing. What to Expect from #BTC? Traders are bullish, a sentiment that shows in the Bitcoin daily chart. With BTC above last week's lows and rejecting bearish attempts at spot rates, prices could recover in sessions ahead. Resistance levels to watch out for: $22k and $23k Support levels to watch out for: $18.8k Disclaimer: Opinions expressed are not investment advice. Do your research.
Long
by Bitcoin_Analyzer