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No one is born as a trader.
You need to change yourself.
You need to change your mindset.
And you need to achieve that change through 'trading experience' not only study.
Study isn't enough
#Binance #crypto2023 #BTC #dyor #Traders
You need to change yourself.
You need to change your mindset.
And you need to achieve that change through 'trading experience' not only study.
Study isn't enough
#Binance #crypto2023 #BTC #dyor #Traders
Every failure is an opportunity to learn and grow...
Including trading!
#Traders #tradingStrategy #trading #bitcoin #buildtogether
Including trading!
#Traders #tradingStrategy #trading #bitcoin #buildtogether
Explained : Golden Cross (Must Read......)
What is the Golden Cross?
The Golden Cross is a #technical indicator that occurs when a short-term moving average crosses above a long-term moving average. The most commonly used moving averages for the Golden Cross are the 50-day moving average and the 200-day moving average. When the 50-day moving average crosses above the 200-day moving average, it is considered a bullish signal and is called a Golden Cross.
How does it work?
The Golden Cross works by identifying a shift in market momentum. The short-term moving average represents the current trend, while the long-term moving average represents the overall trend. When the short-term moving average crosses above the long-term moving average, it indicates that the current trend is gaining momentum and is likely to continue in the future.
#Traders and investors use the Golden Cross to identify potential buy signals. When a Golden Cross occurs, it suggests that the stock is in an uptrend and is likely to continue rising in the future. Traders may use the Golden Cross to initiate long positions or to add to existing positions.
Types of Golden Crosses:
There are three types of Golden Crosses that traders may encounter:
#Bullish Golden Cross: A bullish Golden Cross occurs when the short-term moving average (e.g., 50-day) crosses above the long-term moving average (e.g., 200-day), indicating a shift in momentum from bearish to bullish.
Death Cross: A Death Cross is the opposite of a Golden Cross, occurring when the short-term moving average crosses below the long-term moving average. This signals a shift in momentum from bullish to bearish, and is considered a bearish signal.
Fake-out Golden Cross: A fake-out Golden Cross occurs when the short-term moving average crosses above the long-term moving average, but then quickly falls back below it. This can occur during periods of high volatility and is not considered a reliable signal.
Using the Golden Cross in Trading:
The Golden Cross is a popular technical indicator used by traders to identify potential buy signals. Here are some ways traders can use the Golden Cross in their analysis:
Buy Signal: When a Golden Cross occurs, it suggests that the stock is in an uptrend and is likely to continue rising in the future. Traders may use this as a buy signal to initiate long positions or add to existing positions.
Stop-Loss Placement: Traders may use the Golden Cross to set stop-loss orders below the long-term moving average. This can help to limit losses if the stock price falls below the long-term trend.
Confirmation Signal: The Golden Cross can be used as a confirmation signal when combined with other technical indicators. For example, if the stock price is also breaking through a key resistance level at the same time as the Golden Cross, this can be a stronger buy signal.
Final Words:
The Golden Cross is a popular technical indicator used by traders to identify potential buy signals. It occurs when a short-term moving average crosses above a long-term moving average and suggests a shift in momentum from bearish to bullish. Traders may use the Golden Cross to initiate long positions or add to existing positions, set stop-loss orders, or use it as a confirmation signal when combined with other technical indicators.
The Golden Cross is a #technical indicator that occurs when a short-term moving average crosses above a long-term moving average. The most commonly used moving averages for the Golden Cross are the 50-day moving average and the 200-day moving average. When the 50-day moving average crosses above the 200-day moving average, it is considered a bullish signal and is called a Golden Cross.
How does it work?
The Golden Cross works by identifying a shift in market momentum. The short-term moving average represents the current trend, while the long-term moving average represents the overall trend. When the short-term moving average crosses above the long-term moving average, it indicates that the current trend is gaining momentum and is likely to continue in the future.
#Traders and investors use the Golden Cross to identify potential buy signals. When a Golden Cross occurs, it suggests that the stock is in an uptrend and is likely to continue rising in the future. Traders may use the Golden Cross to initiate long positions or to add to existing positions.
Types of Golden Crosses:
There are three types of Golden Crosses that traders may encounter:
#Bullish Golden Cross: A bullish Golden Cross occurs when the short-term moving average (e.g., 50-day) crosses above the long-term moving average (e.g., 200-day), indicating a shift in momentum from bearish to bullish.
Death Cross: A Death Cross is the opposite of a Golden Cross, occurring when the short-term moving average crosses below the long-term moving average. This signals a shift in momentum from bullish to bearish, and is considered a bearish signal.
Fake-out Golden Cross: A fake-out Golden Cross occurs when the short-term moving average crosses above the long-term moving average, but then quickly falls back below it. This can occur during periods of high volatility and is not considered a reliable signal.
Using the Golden Cross in Trading:
The Golden Cross is a popular technical indicator used by traders to identify potential buy signals. Here are some ways traders can use the Golden Cross in their analysis:
Buy Signal: When a Golden Cross occurs, it suggests that the stock is in an uptrend and is likely to continue rising in the future. Traders may use this as a buy signal to initiate long positions or add to existing positions.
Stop-Loss Placement: Traders may use the Golden Cross to set stop-loss orders below the long-term moving average. This can help to limit losses if the stock price falls below the long-term trend.
Confirmation Signal: The Golden Cross can be used as a confirmation signal when combined with other technical indicators. For example, if the stock price is also breaking through a key resistance level at the same time as the Golden Cross, this can be a stronger buy signal.
Final Words:
The Golden Cross is a popular technical indicator used by traders to identify potential buy signals. It occurs when a short-term moving average crosses above a long-term moving average and suggests a shift in momentum from bearish to bullish. Traders may use the Golden Cross to initiate long positions or add to existing positions, set stop-loss orders, or use it as a confirmation signal when combined with other technical indicators.
LIVECryptoGeeks
--
BTC Price Targets $26K as Bitcoin Traders Prepare for CPI-Driven Volatility
#Bitcoin is currently facing numerous resistance levels as the market gears up for a significant week influenced by the Consumer Price Index (CPI). This economic indicator holds the potential to impact various risk asset markets, putting Bitcoin in the spotlight.
With the #CPI report looming, Bitcoin traders are bracing themselves for potential volatility in the market. As the cryptocurrency seeks to navigate these challenging conditions, the $26,000 price level becomes a focal point for investors and analysts alike.
The presence of multiple resistance levels underscores the importance of closely monitoring market trends and key economic indicators like the CPI. Traders will be closely observing the impact of these developments on Bitcoin's price, as it could dictate the short-term direction of the market.
As the week progresses, the outcome of the CPI report and subsequent market reactions will provide valuable insights into the resilience and adaptability of Bitcoin in the face of macroeconomic events.
With the #CPI report looming, Bitcoin traders are bracing themselves for potential volatility in the market. As the cryptocurrency seeks to navigate these challenging conditions, the $26,000 price level becomes a focal point for investors and analysts alike.
The presence of multiple resistance levels underscores the importance of closely monitoring market trends and key economic indicators like the CPI. Traders will be closely observing the impact of these developments on Bitcoin's price, as it could dictate the short-term direction of the market.
As the week progresses, the outcome of the CPI report and subsequent market reactions will provide valuable insights into the resilience and adaptability of Bitcoin in the face of macroeconomic events.
#BNB Analysis
BNB is currently in the process of testing a resistance zone. To consider opening new long positions, it is important for the price of BNB to successfully break above $270 and for the daily candle to close above this level. #Traders should exercise patience and wait for either a breakout above the resistance area or a rejection from this level before considering new entry opportunities.
#dyor
BNB is currently in the process of testing a resistance zone. To consider opening new long positions, it is important for the price of BNB to successfully break above $270 and for the daily candle to close above this level. #Traders should exercise patience and wait for either a breakout above the resistance area or a rejection from this level before considering new entry opportunities.
#dyor
The Key to Profitable Cryptocurrency Trading: Understanding Supply and Demand
Understanding Supply and Demand in Cryptocurrency Trading
Supply and demand are the two most important forces that determine the price of any asset, including cryptocurrencies. Supply refers to the amount of a particular cryptocurrency that is available for trading, while demand represents the desire of traders to buy or sell that cryptocurrency. The interaction between supply and demand determines the price levels in the market.
In #cryptocurrency trading, supply and demand dynamics operate similarly to other markets. When there is high demand for a cryptocurrency and limited supply, its price tends to rise. Conversely, when demand decreases or supply increases, the cryptocurrency's price is likely to decline. #Traders analyze these supply and demand levels to identify potential trading opportunities.
Identifying Supply and Demand Levels
Supply and demand levels can be identified on cryptocurrency charts using various techniques. Some common methods include trendlines, support, and resistance levels, and dynamic support and resistance using moving averages. However, one of the simplest and most effective ways to spot these levels is through major support and resistance zones.
Support and resistance levels are areas on the chart where the price repeatedly bounces off, indicating a significant supply or demand imbalance. When price approaches a support level, demand exceeds supply, causing prices to reverse higher. Conversely, when the price approaches a resistance level, supply exceeds demand, leading to a potential reversal lower.
Supply and Demand Price Action Trading
Trading based on supply and demand levels can be executed using a clean price action chart, without the use of indicators or other distractions. Traders focus solely on analyzing raw price movement to identify potential trading signals.
For example, in an uptrend, traders look for long trades in alignment with the prevailing trend. They identify demand zones where price pulls back and shows signs of increased buying pressure. Once the price reaches the demand zone, traders can enter long positions, anticipating a continuation of the upward move.
Applying Supply and Demand Levels
Supply and demand levels not only serve as entry points for trades, but they also help traders manage their positions effectively. These levels can be used to set stop-loss orders and profit targets. By placing stop-loss orders below support levels (in long trades) or above resistance levels (in short trades), traders can protect their capital in case the price reverses.
Simple Supply and Demand Trading Strategies
There are several simple yet effective trading strategies based on supply and demand levels. Two common setups are discussed below:
Bullish Trade Setup
Identify a well-defined demand zone where the price has previously found support multiple times.
Traders can enter a long trade directly from this level if they are aggressive.
Alternatively, for a more conservative approach, traders can wait for a bullish candlestick pattern, such as a bullish engulfing bar, to confirm the buying opportunity.
Bearish Trade Setup
Observe a downtrend in price and a clear support level being broken.
As the price retraces back to this broken support level, traders can look for short-trade opportunities.
Short trades taken from this supply zone align with the overall downtrend.
To further confirm the trade, traders can wait for a bearish candlestick pattern, like a shooting star, signaling a potential move lower.
Disclaimer: Trading in cryptocurrencies involves risk, and readers should conduct their own research.
Hello, it's CryptoPatel here!
Passionate about providing you with the latest insights and analysis on cryptocurrencies. Join me for high-quality updates on the ever-evolving crypto world.
If you enjoy my content, please show your support by liking, sharing, and following. Let's stay connected for exciting updates!
#educational #EducationalPost #TechnicalAnalysis
$BTC $ETH $BNB
Supply and demand are the two most important forces that determine the price of any asset, including cryptocurrencies. Supply refers to the amount of a particular cryptocurrency that is available for trading, while demand represents the desire of traders to buy or sell that cryptocurrency. The interaction between supply and demand determines the price levels in the market.
In #cryptocurrency trading, supply and demand dynamics operate similarly to other markets. When there is high demand for a cryptocurrency and limited supply, its price tends to rise. Conversely, when demand decreases or supply increases, the cryptocurrency's price is likely to decline. #Traders analyze these supply and demand levels to identify potential trading opportunities.
Identifying Supply and Demand Levels
Supply and demand levels can be identified on cryptocurrency charts using various techniques. Some common methods include trendlines, support, and resistance levels, and dynamic support and resistance using moving averages. However, one of the simplest and most effective ways to spot these levels is through major support and resistance zones.
Support and resistance levels are areas on the chart where the price repeatedly bounces off, indicating a significant supply or demand imbalance. When price approaches a support level, demand exceeds supply, causing prices to reverse higher. Conversely, when the price approaches a resistance level, supply exceeds demand, leading to a potential reversal lower.
Supply and Demand Price Action Trading
Trading based on supply and demand levels can be executed using a clean price action chart, without the use of indicators or other distractions. Traders focus solely on analyzing raw price movement to identify potential trading signals.
For example, in an uptrend, traders look for long trades in alignment with the prevailing trend. They identify demand zones where price pulls back and shows signs of increased buying pressure. Once the price reaches the demand zone, traders can enter long positions, anticipating a continuation of the upward move.
Applying Supply and Demand Levels
Supply and demand levels not only serve as entry points for trades, but they also help traders manage their positions effectively. These levels can be used to set stop-loss orders and profit targets. By placing stop-loss orders below support levels (in long trades) or above resistance levels (in short trades), traders can protect their capital in case the price reverses.
Simple Supply and Demand Trading Strategies
There are several simple yet effective trading strategies based on supply and demand levels. Two common setups are discussed below:
Bullish Trade Setup
Identify a well-defined demand zone where the price has previously found support multiple times.
Traders can enter a long trade directly from this level if they are aggressive.
Alternatively, for a more conservative approach, traders can wait for a bullish candlestick pattern, such as a bullish engulfing bar, to confirm the buying opportunity.
Bearish Trade Setup
Observe a downtrend in price and a clear support level being broken.
As the price retraces back to this broken support level, traders can look for short-trade opportunities.
Short trades taken from this supply zone align with the overall downtrend.
To further confirm the trade, traders can wait for a bearish candlestick pattern, like a shooting star, signaling a potential move lower.
Disclaimer: Trading in cryptocurrencies involves risk, and readers should conduct their own research.
Hello, it's CryptoPatel here!
Passionate about providing you with the latest insights and analysis on cryptocurrencies. Join me for high-quality updates on the ever-evolving crypto world.
If you enjoy my content, please show your support by liking, sharing, and following. Let's stay connected for exciting updates!
#educational #EducationalPost #TechnicalAnalysis
$BTC $ETH $BNB
I am planning to share the analysis of some crypto tokens/coins, so you can spam here in the comment section with the names of the coins for which you want the analysis.
#cryptomarket #cryptocrash #BTC #Traders
#cryptomarket #cryptocrash #BTC #Traders
What is Head & Shoulder Pattern (H&S) ?
What is Head & Shoulder Pattern (H&S) ?
A #HeadandShoulders pattern is a technical chart pattern that is used in technical analysis to identify #potential reversal patterns in the price of an asset. The pattern is formed when the price rises to a #peak (the left shoulder), then falls, rises again to a higher peak (the head), falls again, and then rises to a lower peak (the right shoulder). The pattern resembles a person's head and shoulders, hence the name.
The Head and Shoulders pattern is considered to be a #bearish reversal pattern, which means that it suggests that the price trend of the asset is likely to reverse from an upward trend to a downward trend. The pattern is typically used by technical analysts to identify when to sell or #short a security, and to set stop-loss orders to limit potential losses.
#Traders often use other technical indicators in conjunction with the Head and Shoulders pattern to #confirm their trading decisions. #crypto2023 #BTC
A #HeadandShoulders pattern is a technical chart pattern that is used in technical analysis to identify #potential reversal patterns in the price of an asset. The pattern is formed when the price rises to a #peak (the left shoulder), then falls, rises again to a higher peak (the head), falls again, and then rises to a lower peak (the right shoulder). The pattern resembles a person's head and shoulders, hence the name.
The Head and Shoulders pattern is considered to be a #bearish reversal pattern, which means that it suggests that the price trend of the asset is likely to reverse from an upward trend to a downward trend. The pattern is typically used by technical analysts to identify when to sell or #short a security, and to set stop-loss orders to limit potential losses.
#Traders often use other technical indicators in conjunction with the Head and Shoulders pattern to #confirm their trading decisions. #crypto2023 #BTC
You Gonna Lost All
People Say Me Mad !
They Say Dont Talks With Us
Go & Just Give Signals Only !
Do You Feel Happy To Be Fool & Dependent ?
I want to see You Sucessful
I never Run Any Vips
Never Promote Fake Stuff
Never Ask For Money
Only Want You To Learn !
that the Reason You Sayings Me Wrong ?
$LUNA $TOMO $PEPE
#GRT TARGET 1 DONE
#Blockmap #BinanceTips #Trading #Traders
People Say Me Mad !
They Say Dont Talks With Us
Go & Just Give Signals Only !
Do You Feel Happy To Be Fool & Dependent ?
I want to see You Sucessful
I never Run Any Vips
Never Promote Fake Stuff
Never Ask For Money
Only Want You To Learn !
that the Reason You Sayings Me Wrong ?
$LUNA $TOMO $PEPE
#GRT TARGET 1 DONE
#Blockmap #BinanceTips #Trading #Traders
Pour tous les#Investisseurs& #Traders
Après une longue baisse, le#Btcpasse de 48 000 $ à 38 000 $
Pour liquider les#tradersà terme qui ouvrent des positions longues depuis l'année dernière.
Et Bitcoin arrive toujours pour le futur#Tradersqui ouvrent des positions courtes
Grands teneurs de marché et baleines 🐳 J'ai acheté plus de#Btcdepuis le début de la baisse
ils manipuleront le marché pour voir si vous vendez votre BTC HODL
Un grand teneur de marché et une baleine voient la baisse comme une grande opportunité d'acheter à bas prix pour le prochain#bullrun🚀🚀
Le marché, les grands teneurs de marché et la baleine 🐳 ne se soucient pas de vos sentiments
Mais si vous lisez ceci, vous serez toujours un vendeur paniqué lorsque vous vérifierez votre portefeuille 💼
Suivez-moi 🐼🐼🐼pour d'autres mauvais conseils financiers
Comme
Partager
Commentaire
Vos conseils de soutien $ seraient appréciés et à suivre
#BTC #BitcoinPrice2024
Après une longue baisse, le#Btcpasse de 48 000 $ à 38 000 $
Pour liquider les#tradersà terme qui ouvrent des positions longues depuis l'année dernière.
Et Bitcoin arrive toujours pour le futur#Tradersqui ouvrent des positions courtes
Grands teneurs de marché et baleines 🐳 J'ai acheté plus de#Btcdepuis le début de la baisse
ils manipuleront le marché pour voir si vous vendez votre BTC HODL
Un grand teneur de marché et une baleine voient la baisse comme une grande opportunité d'acheter à bas prix pour le prochain#bullrun🚀🚀
Le marché, les grands teneurs de marché et la baleine 🐳 ne se soucient pas de vos sentiments
Mais si vous lisez ceci, vous serez toujours un vendeur paniqué lorsque vous vérifierez votre portefeuille 💼
Suivez-moi 🐼🐼🐼pour d'autres mauvais conseils financiers
Comme
Partager
Commentaire
Vos conseils de soutien $ seraient appréciés et à suivre
#BTC #BitcoinPrice2024
Hey, #Traders
Market is Stable now.🚀💸
It's time to take your Trade and make your profit.
Before you take your trade Learn risk management and do Market Analysis.
#Happytrading #marketanalysis #HIGHLIGHTS #BinanceMissions
Market is Stable now.🚀💸
It's time to take your Trade and make your profit.
Before you take your trade Learn risk management and do Market Analysis.
#Happytrading #marketanalysis #HIGHLIGHTS #BinanceMissions
Check possible entry on DOGE
$DOGE finds it difficult to surpass the resistance level . Currently, the price is finding support around the $0.06470 region.
If the price fails to hold above this level, it is likely to decline further towards the support range of $0.058 to $0.060.
#Traders and investors should closely monitor the price action to gauge whether a break below the support level occurs and how the market responds.
#dyor #crypto
$DOGE finds it difficult to surpass the resistance level . Currently, the price is finding support around the $0.06470 region.
If the price fails to hold above this level, it is likely to decline further towards the support range of $0.058 to $0.060.
#Traders and investors should closely monitor the price action to gauge whether a break below the support level occurs and how the market responds.
#dyor #crypto
#Arbitrum now a days best project for #HODLers as well as #Traders too.. Always take Patience in Spot/Future Tradings with perfect timings of Entry and Exit.
SPECIAL NOTES-
Always use #StopLoss in #FutureTradings #DYOR
SPECIAL NOTES-
Always use #StopLoss in #FutureTradings #DYOR
We should become consistent. We should become flexible. In short, "we should become consistently flexible... "
Many #Traders fail because they fail to adapt to the ever-changing market conditions.Most of #crypto traders succeed because they know that the market will change and go with it.
Embrace the change.
#Binance #bitcoin
$BTC $ETH
#tradingStrategy $BNB
Many #Traders fail because they fail to adapt to the ever-changing market conditions.Most of #crypto traders succeed because they know that the market will change and go with it.
Embrace the change.
#Binance #bitcoin
$BTC $ETH
#tradingStrategy $BNB
- #Shibainu a popular #memecoin experienced a significant drop in value (over 60%) after the 2022 crypto market crash.
- Other newer meme coins are gaining popularity due to better #token utilization, limited supply, and improved design.
- #Traders are shifting away from Shiba Inu towards other meme coins like Wall Street Memes and Thug Life token.
- Shiba Inu plans to introduce #SHIB 2.0, an updated token, to compete with newer meme coins.
- Shiba Inu's original token is still in the top 20 cryptocurrencies by market cap but losing ground to emerging meme coins.
- SHIB 2.0 is gradually gaining traction with a growing market cap and trading volume.
- The success of SHIB 2.0 depends on factors like liquidity locking and investor interest.
- Investing in the original Shiba Inu token from January 2021 to March 2023 resulted in massive gains (over 14 million percent).
- SHIB 2.0 has the potential for a significant bull run if whales (large investors) get involved.
- The meme coin market is rapidly expanding with new coins being released and many more in presale.
$SHIB $PEPE $DOGE
- Other newer meme coins are gaining popularity due to better #token utilization, limited supply, and improved design.
- #Traders are shifting away from Shiba Inu towards other meme coins like Wall Street Memes and Thug Life token.
- Shiba Inu plans to introduce #SHIB 2.0, an updated token, to compete with newer meme coins.
- Shiba Inu's original token is still in the top 20 cryptocurrencies by market cap but losing ground to emerging meme coins.
- SHIB 2.0 is gradually gaining traction with a growing market cap and trading volume.
- The success of SHIB 2.0 depends on factors like liquidity locking and investor interest.
- Investing in the original Shiba Inu token from January 2021 to March 2023 resulted in massive gains (over 14 million percent).
- SHIB 2.0 has the potential for a significant bull run if whales (large investors) get involved.
- The meme coin market is rapidly expanding with new coins being released and many more in presale.
$SHIB $PEPE $DOGE
Bitcoin Price Analysis: Better After 29427 Test- 2 July...
#BTC/USD Better After 29427 Test: Sally Ho’s Technical Analysis – 2 July 2023
#bitcoin (BTC/USD) worked to remain above the 30000 figure early in the Asian session as the pair encountered month-ending volatility that saw a rapid depreciation to the 29417.14 area, representing a test of the 38.2% retracement of the appreciating range from 26165.98 to 31443.67. This quick downward move took place shortly after BTC/USD spiked higher to the 30277 area, its strongest print in several trading sessions, and opens up a possible test of the 28604.83 area. BTC/USD notched a June gain of approximately 11.9%, and the pair is now up approximately 83.5% year-to-date. The pair’s recent print around the 31443.67 area was a twelve-month high and test of an upside price objective associated with buying pressure that strengthened around the 26637.41 area. Additional upside price objectives include the 31737, 32125, and 33569 areas. Stops are cited above additional upside price objectives around the 31674, 32043, 34531, and 34658 areas.
Following recent selling pressure, areas of potential technical support and buying pressure include the 29863, 29427, 28886, 28804, 28182, 28096, and 27306 areas. Stops were also recently triggered above additional upside price objectives around the 29068, 29159, 29458, 30088, 30200, 30292, and 30477 levels. Technicians are closely watching to see how much technical support develops around the 28095.44 area, representing the 23.6% retracement of the historical depreciating range from 69000 to 15460. #Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 30456.83 and the 50-bar MA (Hourly) at 30515.87.
Technical Support is expected around 24440.41/ 23270.10/ 22769.39 with Stops expected below.
Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of #crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
#Binance
$BTC
#bitcoin (BTC/USD) worked to remain above the 30000 figure early in the Asian session as the pair encountered month-ending volatility that saw a rapid depreciation to the 29417.14 area, representing a test of the 38.2% retracement of the appreciating range from 26165.98 to 31443.67. This quick downward move took place shortly after BTC/USD spiked higher to the 30277 area, its strongest print in several trading sessions, and opens up a possible test of the 28604.83 area. BTC/USD notched a June gain of approximately 11.9%, and the pair is now up approximately 83.5% year-to-date. The pair’s recent print around the 31443.67 area was a twelve-month high and test of an upside price objective associated with buying pressure that strengthened around the 26637.41 area. Additional upside price objectives include the 31737, 32125, and 33569 areas. Stops are cited above additional upside price objectives around the 31674, 32043, 34531, and 34658 areas.
Following recent selling pressure, areas of potential technical support and buying pressure include the 29863, 29427, 28886, 28804, 28182, 28096, and 27306 areas. Stops were also recently triggered above additional upside price objectives around the 29068, 29159, 29458, 30088, 30200, 30292, and 30477 levels. Technicians are closely watching to see how much technical support develops around the 28095.44 area, representing the 23.6% retracement of the historical depreciating range from 69000 to 15460. #Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 30456.83 and the 50-bar MA (Hourly) at 30515.87.
Technical Support is expected around 24440.41/ 23270.10/ 22769.39 with Stops expected below.
Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Disclaimer: Sally Ho’s Technical Analysis is provided by a third party, and for informational purposes only. It does not reflect the views of #crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
#Binance
$BTC
