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    Tag: analysis

    BTC 9 21 2020 LearnCrypto Powered By Wyckoff SMI 2023

    DEFI’S CRITICAL CORRECTION COULD DRAG BITCOIN LOWER, ANALYST SAYS

    While Bitcoin has been relatively stagnant over recent days, top coins in the decentralized finance have been undergoing strong corrections. Analysts think that this could…

    Karrie Butterfield September 21, 2020
    0 Comments
    Ripple 11 18 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Ripple Price Analysis: Ripple Surges by Over 7% Today As Crypto Markets Attempt Recovery

    Key Highlights: Ripple sees 7% increase as the rest of the market struggles. The cryptocurrency is now in 2nd market position, $2 billion ahead of…

    Karrie Butterfield November 18, 2018
    0 Comments
    crypto 11 16 2 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Bitcoin, Ripple, Ethereum, Stellar, EOS, Litecoin, Cardano, Monero, TRON, DASH: Price Analysis, Nov. 16

    Bitcoin saw its third worst drop of 2018 on Nov. 14, as it broke down to new year-to-date lows. In doing so, it broke through the critical…

    Karrie Butterfield November 16, 2018
    0 Comments
    crypto low 11 14 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 14

    After months of stability, cryptocurrencies are under a renewed bear attack, as total market capitalization has again dipped below $188 billion. The current sell-off comes after months…

    Karrie Butterfield November 14, 2018
    0 Comments
    Bitcoin 10 18 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Bitcoin Price Intraday Analysis: BTC/USD Forming Doji in Bull Trap

    Bitcoin remains motionless as the price enter yet another day of anxious stability. The Bitcoin-to-dollar exchange rate is extending its sideways consolidation trend. The spike seen at…

    Karrie Butterfield October 18, 2018
    0 Comments
    Bitcoin 10 12 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Bitcoin Price Intraday Analysis: BTC/USD in Weak Upside Correction

    The Bitcoin-to-USD exchange rate has posted slight gains in the Friday session. Currently, the pair is trading above 6300-fiat, up +1.55 percent on the day.…

    Karrie Butterfield October 12, 2018
    0 Comments
    Bitcoin 10 5 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Bitcoin Price Intraday Analysis: BTC/USD Stability Continues

    Bitcoin on Friday surged a minor 0.21 percent against the US Dollar, intensifying the bias conflict it has been in since yesterday. The BTC/USD opened…

    Karrie Butterfield October 5, 2018
    0 Comments

    Bitcoin Price Watch: BTC/USD Primed for More Gains

    Key Points Bitcoin price is placed well above the $6,440 support level against the US Dollar. There is a crucial bullish trend line formed with…

    Karrie Butterfield October 1, 2018
    0 Comments
    Bitcoin bear 9 13 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Bitcoin Price Intraday Analysis: BTC/USD Invalidates Bear Pennant

    Bitcoin price on Thursday escaped its prevailing downtrend and appreciated close to 3 percent against the US Dollar. The BTC/USD started the day in support…

    Karrie Butterfield September 13, 2018
    0 Comments
    Bitcoin 8 31 2018 LearnCrypto Powered By Wyckoff SMI 2023

    Bitcoin Price Intraday Analysis: BTC/USD Reverses from $7,000

    Bitcoin on Friday recovered more than 3 percent from its intraday low near $6,800. The BTC/USD began the day continuing to its steady upside recovery…

    Karrie Butterfield August 31, 2018
    0 Comments
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    Bitcoin Price Intraday Analysis: BTC/USD Reverses from $7,000

    Forum Description

    Bitcoin on Friday recovered more than 3 percent from its intraday low near $6,800. The BTC/USD began the day continuing to its steady upside recovery and reached as above as 7020-fiat during the early Asian trading session. The bounce back could have been more effective had it managed to break above 7000-fiat for a more extended period. But as the European session came into play, traders visibly started exiting their positions around 7000-fiat – verifying it as a strong selling area. As a result, the pair dropped and formed lower lows towards 6883-fiat, on which it is now attempting a bounce back towards the intraday high.

    BTCUSD Technical Analysis

    On a 4H BTCUSD chart, BTC/USD continued to trend inside the rising wedge pattern, hinting the near-term bounce and reversals as part of extended upside momentum. Nevertheless, the wedge also draws potential breakout levels for us to consider, to define our positions and stop losses likewise. There is a likelihood of pair to stay inside the channel for near-term, but a breakout towards either direction – traditionally – could mean a strong upside/downside momentum (~$700). As the same time, BTC/USD seems to have found a decent support near its 200H moving average. The 100H MA, meanwhile, is hinting to cross above the 200H MA, which – again traditionally – could mean an extended bull run. The last time a crossover like that had happened, and the price had jumped as high as 8512-fiat. The RSI indicator on 4H charts has recovered immensely following the latest upside correction, now inside a decent buying sentiment area. The Stochastic Oscillator, at the same time, has also recovered from the oversold conditions. Overall, the interim conditions point to a bullish bias.

    BTCUSD Intraday Analysis

    The latest fall and its responsive recovery have brought us inside a new range, defined by 7020-fiat as our interim resistance level and 6847-fiat as our interim support level. To begin with, we have entered a long position towards 7020-fiat in our hopes to retest the intraday high amidst a decent medium-term bulling sentiment. Nevertheless, placing a stop loss a marginal 3-pips below the entry point have minimized our loss should the upside reverses. A break above interim resistance, meanwhile, will have us switch to the breakout strategy. In this case, we’ll enter a long towards 7128-fiat, our primary upside target, while keeping our stops three-pips below the entry position. Looking the other way, we cannot rule out the possibility of a potential bearish run, first towards 6847-fiat which, if broken, could open a straight route towards 6800-fiat as a potential downside target. Though, in the context of a near-term bullish bias, it wouldn’t be wise to open a short towards a position that is just $47 away.  We’re going to give it a skip until a potential bearish momentum is established, which should be the case when price breaches below 6750-fiat. Trade safe! Featured image from Shutterstock. Charts from TradingView.
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