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The Relative Strength Index (RSI): A Beginnerâs Guide
$BTC
The Relative Strength Index (RSI) is one of the most widely used technical indicators in trading. Developed by J. Welles Wilder in 1978, it helps traders evaluate the momentum of a market and identify overbought or oversold conditions.
What is RSI?
RSI is an oscillator that measures the speed and magnitude of price changes over a specific period, typically 14 periods. It provides a value between 0 and 100, which helps traders gauge whether an asset is overbought or oversold.
Overbought: RSI above 70 suggests the asset might be overbought and due for a correction.
Oversold: RSI below 30 indicates the asset might be oversold and due for a rebound.
The RSI Formula
The RSI is calculated as:
[ RSI = 100 - \left( \frac{100}{1 + RS} \right) \]
Where:
RS= Average Gain of Up Periods (over the lookback period) / Average Loss of Down Periods (over the lookback period)
How to Interpret RSI
1. Overbought and Oversold Levels:
- When RSI crosses above 70, it may signal that the asset is overbought and could experience a price decline.
- When RSI drops below 30, it may indicate that the asset is oversold and could see a price increase.
2. Divergence:
- Bullish Divergence: When the price makes lower lows, but RSI makes higher lows, it suggests a potential upward reversal.
- Bearish Divergence: When the price makes higher highs, but RSI makes lower highs, it indicates a potential downward reversal.
3. Centerline Crossover:
- RSI crossing above 50 is often viewed as a bullish signal, indicating upward momentum.
- RSI crossing below 50 suggests bearish momentum.
Strengths of RSI
- Versatility: Works well in a variety of markets (stocks, forex, crypto, etc.) and timeframes.
- Simplicity: Easy to interpret for beginners.
- Divergences: Offers insight into potential trend reversals.
Limitations of RSI
- False Signals**: RSI can provide false overbought/oversold signals in strong trending markets.
- Lagging Indicator: Like most indicators, RSI relies on historical data, which may delay signals.
Best Practices for Using RSI
1. Combine with Other Indicators:
- Use RSI with trend-following indicators like Moving Averages or MACD to filter out false signals.
- Pair it with support and resistance levels to validate potential reversals.
2. Adjust the Period:
- Shorten the period (e.g., 7 or 9) for more sensitive signals.
- Lengthen the period (e.g., 20 or 30) for smoother, less frequent signals.
3. Context Matters:
- In a trending market, RSI may remain overbought or oversold for extended periods. Use it cautiously in such conditions.
Example of RSI in Action
Imagine a cryptocurrency like Bitcoin has been rallying for several days, and the RSI rises above 70. This suggests that Bitcoin might be overbought, and a pullback could occur soon. However, if the market trend is strong, Bitcoinâs RSI could stay above 70 for an extended period. Combining RSI with trend analysis or support/resistance levels can provide better insights.
Conclusion
The RSI is a powerful tool for traders seeking to understand market momentum and potential reversal points. While itâs simple to use, its effectiveness increases when combined with other indicators and market context. As always, practice using RSI on historical data before applying it to live trades, and remember that no single indicator guarantees success
#BTCđ„đ„ #Write2Earn #BTCNextMove #ElSalvadorBTCReserve
The Relative Strength Index (RSI) is one of the most widely used technical indicators in trading. Developed by J. Welles Wilder in 1978, it helps traders evaluate the momentum of a market and identify overbought or oversold conditions.
What is RSI?
RSI is an oscillator that measures the speed and magnitude of price changes over a specific period, typically 14 periods. It provides a value between 0 and 100, which helps traders gauge whether an asset is overbought or oversold.
Overbought: RSI above 70 suggests the asset might be overbought and due for a correction.
Oversold: RSI below 30 indicates the asset might be oversold and due for a rebound.
The RSI Formula
The RSI is calculated as:
[ RSI = 100 - \left( \frac{100}{1 + RS} \right) \]
Where:
RS= Average Gain of Up Periods (over the lookback period) / Average Loss of Down Periods (over the lookback period)
How to Interpret RSI
1. Overbought and Oversold Levels:
- When RSI crosses above 70, it may signal that the asset is overbought and could experience a price decline.
- When RSI drops below 30, it may indicate that the asset is oversold and could see a price increase.
2. Divergence:
- Bullish Divergence: When the price makes lower lows, but RSI makes higher lows, it suggests a potential upward reversal.
- Bearish Divergence: When the price makes higher highs, but RSI makes lower highs, it indicates a potential downward reversal.
3. Centerline Crossover:
- RSI crossing above 50 is often viewed as a bullish signal, indicating upward momentum.
- RSI crossing below 50 suggests bearish momentum.
Strengths of RSI
- Versatility: Works well in a variety of markets (stocks, forex, crypto, etc.) and timeframes.
- Simplicity: Easy to interpret for beginners.
- Divergences: Offers insight into potential trend reversals.
Limitations of RSI
- False Signals**: RSI can provide false overbought/oversold signals in strong trending markets.
- Lagging Indicator: Like most indicators, RSI relies on historical data, which may delay signals.
Best Practices for Using RSI
1. Combine with Other Indicators:
- Use RSI with trend-following indicators like Moving Averages or MACD to filter out false signals.
- Pair it with support and resistance levels to validate potential reversals.
2. Adjust the Period:
- Shorten the period (e.g., 7 or 9) for more sensitive signals.
- Lengthen the period (e.g., 20 or 30) for smoother, less frequent signals.
3. Context Matters:
- In a trending market, RSI may remain overbought or oversold for extended periods. Use it cautiously in such conditions.
Example of RSI in Action
Imagine a cryptocurrency like Bitcoin has been rallying for several days, and the RSI rises above 70. This suggests that Bitcoin might be overbought, and a pullback could occur soon. However, if the market trend is strong, Bitcoinâs RSI could stay above 70 for an extended period. Combining RSI with trend analysis or support/resistance levels can provide better insights.
Conclusion
The RSI is a powerful tool for traders seeking to understand market momentum and potential reversal points. While itâs simple to use, its effectiveness increases when combined with other indicators and market context. As always, practice using RSI on historical data before applying it to live trades, and remember that no single indicator guarantees success
#BTCđ„đ„ #Write2Earn #BTCNextMove #ElSalvadorBTCReserve
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Internal order market analysis #btcđ„đ„
After seeing an upward trend near 40,000, I went long all the way and the contract tripled, but the spot copycat has not yet untied its trap.
Since there is no rapid breakthrough of 53800, there is already a certain top risk. If it falls below yesterday's lowest point of 51300, it is basically certain that the next month will be a shock correction. If it falls below, I will go short and the stop loss will be 53900.
Itâs not easy to recommend copycats. In the past, when BTC peaked, eth would still bounce around for a while, so itâs better to close when it rises.
After seeing an upward trend near 40,000, I went long all the way and the contract tripled, but the spot copycat has not yet untied its trap.
Since there is no rapid breakthrough of 53800, there is already a certain top risk. If it falls below yesterday's lowest point of 51300, it is basically certain that the next month will be a shock correction. If it falls below, I will go short and the stop loss will be 53900.
Itâs not easy to recommend copycats. In the past, when BTC peaked, eth would still bounce around for a while, so itâs better to close when it rises.
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What is your view on Bitcoin (BTC) and will it reach
$112k
$123k
$130k
or drop to
$90k
$87k
$84k
Share your view in the comments đ«”đ»
$BTC
My opinion in the first comment đđ»
#BTCđ„đ„
$112k
$123k
$130k
or drop to
$90k
$87k
$84k
Share your view in the comments đ«”đ»
$BTC
My opinion in the first comment đđ»
#BTCđ„đ„
BITCOIN (1H) UPDATE
$BTC
hello guys
Due to the selling pressure, we expect Bitcoin to move up to the specified support box and then, if the support range is maintained, it can move to the specified targets.
Note that this analysis is technically reviewed.
Be successful and profitable.
#BTCâïž #BTCđ„đ„ #MarketRebound
hello guys
Due to the selling pressure, we expect Bitcoin to move up to the specified support box and then, if the support range is maintained, it can move to the specified targets.
Note that this analysis is technically reviewed.
Be successful and profitable.
#BTCâïž #BTCđ„đ„ #MarketRebound
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BTC moved back to near 93600 and started to recover on 4-hour level.
Due to Christmas approaching, the market data was not very strong and was hovering near 96500.
#ChristmasMarketAnalysis
#BTC #BTCđ„đ„đ„đ„đ„ #BTCâ #BTCđ„đ„
Due to Christmas approaching, the market data was not very strong and was hovering near 96500.
#ChristmasMarketAnalysis
#BTC #BTCđ„đ„đ„đ„đ„ #BTCâ #BTCđ„đ„
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What is Growverse Supported by Epic Games?
Growverse was created to bring together, in a strong and well-structured community, all figures revolving around the world of Cannabis, whether consumers, producers, distributors or simply enthusiasts. Growverse allows us to make something real and tangible that would otherwise remain just a game, it is a metadata repository; Each application has a real meaning such as education, information, concert, presentation, art, allowing to earn money. We can describe this as a new industry 4.0 social network, where regional borders will disappear, turning the possibility of discussion, distance learning and interpersonal relationships between users all over the world into a daily possibility, creating a real supply chain starting from scratch.
#BTCđ„đ„ #NFT
Dotlabs is the development house that handles programming and graphics using Unreal Engine 5 and relies on the Epic online service system. Growverse, where you can follow the lessons,
Thanks to the realistic growing simulation, it is also possible to grow your own virtual plant. For the first time in a game, you'll see the sun cross the sky, tracking your sunrise, time zone, and sunset, making way for the lights of the Growverse at night. If you have a Grow store, it will be sufficient to determine a geographical location so that every user can buy the products they need from the store closest to their home. Thus, the laws of each country are respected and the person is given the opportunity to increase his sales for free. There is a permanent cannabis expo where vendors can have their own booths to operate daily. Designed to be available on PS4 PS5 Xbox Android iOS PC and Oculus. Taking pride in the work we do, we hope to see firsthand the awareness of this change where play is no longer just a game.
Growverse was created to bring together, in a strong and well-structured community, all figures revolving around the world of Cannabis, whether consumers, producers, distributors or simply enthusiasts. Growverse allows us to make something real and tangible that would otherwise remain just a game, it is a metadata repository; Each application has a real meaning such as education, information, concert, presentation, art, allowing to earn money. We can describe this as a new industry 4.0 social network, where regional borders will disappear, turning the possibility of discussion, distance learning and interpersonal relationships between users all over the world into a daily possibility, creating a real supply chain starting from scratch.
#BTCđ„đ„ #NFT
Dotlabs is the development house that handles programming and graphics using Unreal Engine 5 and relies on the Epic online service system. Growverse, where you can follow the lessons,
Thanks to the realistic growing simulation, it is also possible to grow your own virtual plant. For the first time in a game, you'll see the sun cross the sky, tracking your sunrise, time zone, and sunset, making way for the lights of the Growverse at night. If you have a Grow store, it will be sufficient to determine a geographical location so that every user can buy the products they need from the store closest to their home. Thus, the laws of each country are respected and the person is given the opportunity to increase his sales for free. There is a permanent cannabis expo where vendors can have their own booths to operate daily. Designed to be available on PS4 PS5 Xbox Android iOS PC and Oculus. Taking pride in the work we do, we hope to see firsthand the awareness of this change where play is no longer just a game.
See original
$BTC has a performance closely aligned with the market, the December logic generates fluctuations likely more negative than positive, but by the end of the year its behavior will undoubtedly change to đ that is, I expect a few more days to buy more #BTCđ„đ„
đMARKET NEWSđïžđïž
THIS IS A FAKE OUT IMO! BUY THE DIP
QQQ SPY IWM
THIS IS A FAKE OUT! BUY THE DIP đ
-Strong Economic Fundamentals
-Hawkish FED spreading FUD
-Same Government shutdown scares every year
-2T+ in options (mostly call) expiring today
-Gains being pressured to be sold for 24 taxes
-Scare meme coin & gambler bro's out the markets
-Incoming party is for business & the stock market
-VIX spiked faster than Japanese trade crisis
-Inflation still coming down
-AI is still strong and a catalyst
-Company earnings are still hefty
-Global markets are curling up not down
All of these reasons explain my point of this being a FAKE OUT. I will be buying this DIP because I see nothing CONCRETE! All I see is that the market maker and FED Chair Powell teamed up to be the GRINCH & SCROOGE this Holiday season. Not financial advice.
$ETH $BTC $XRP
#Btcđ„đ„ #BTCUSDT #BTCNextMove #MarketCorrectionBuyOrHODL?
QQQ SPY IWM
THIS IS A FAKE OUT! BUY THE DIP đ
-Strong Economic Fundamentals
-Hawkish FED spreading FUD
-Same Government shutdown scares every year
-2T+ in options (mostly call) expiring today
-Gains being pressured to be sold for 24 taxes
-Scare meme coin & gambler bro's out the markets
-Incoming party is for business & the stock market
-VIX spiked faster than Japanese trade crisis
-Inflation still coming down
-AI is still strong and a catalyst
-Company earnings are still hefty
-Global markets are curling up not down
All of these reasons explain my point of this being a FAKE OUT. I will be buying this DIP because I see nothing CONCRETE! All I see is that the market maker and FED Chair Powell teamed up to be the GRINCH & SCROOGE this Holiday season. Not financial advice.
$ETH $BTC $XRP
#Btcđ„đ„ #BTCUSDT #BTCNextMove #MarketCorrectionBuyOrHODL?
BTC/USDT (30) UPDATE
Analysis for intraday trader's for bitcoin
$BTC
Hello trader's
Here is some new update on bitcoin for your
intraday trade
mark the support or resistance on your chart
and trade accordingly to it..
#BTCđ„đ„ #BTCNextMove #MarketPullback #ElSalvadorBTCReserve #write2earn!
$BTC
Hello trader's
Here is some new update on bitcoin for your
intraday trade
mark the support or resistance on your chart
and trade accordingly to it..
#BTCđ„đ„ #BTCNextMove #MarketPullback #ElSalvadorBTCReserve #write2earn!
TOTAL3 or $Alts Market Cap (btc & eth excluded)
$BTC
đŸ #TOTAL3 or ALTS Market Cap (btc & eth excluded)
This correction is nothing but opportunity for to spot accumulate #altcoins for mid-termđ
Imo we are just in 4th Corrective Wave before the real #altseason takes off - the final 5th Bullish Waveđ
Accumulate #Alts Now - or Cry laterđâïž
#BTC500k #BTCđ„đ„ #MarketPullback #BTCNextMove
đŸ #TOTAL3 or ALTS Market Cap (btc & eth excluded)
This correction is nothing but opportunity for to spot accumulate #altcoins for mid-termđ
Imo we are just in 4th Corrective Wave before the real #altseason takes off - the final 5th Bullish Waveđ
Accumulate #Alts Now - or Cry laterđâïž
#BTC500k #BTCđ„đ„ #MarketPullback #BTCNextMove
đBitcoin (BTC): Re-Test of Resistance Zone / Sellers Dominating
$BTC
After catching 14-15% of market price movement last week, we had since then made a successful re-test of that local resistance zone, and above that, we formed so far some kind of fakeout move (resulting in an ATH).
We are now looking for a possible break of previous low zones, which would send price back to even lover zones, so we wait!!
#BTCâïž #btc70k #BTCđ„đ„ #Write2Earn! #BinanceSquareFamily
After catching 14-15% of market price movement last week, we had since then made a successful re-test of that local resistance zone, and above that, we formed so far some kind of fakeout move (resulting in an ATH).
We are now looking for a possible break of previous low zones, which would send price back to even lover zones, so we wait!!
#BTCâïž #btc70k #BTCđ„đ„ #Write2Earn! #BinanceSquareFamily
âš C A N B U L L R U N A G A I N $ 5 0 K O V E R ?
This weighed heavily on the Bitcoin price, helping to pressure BTC back to the $38,000s last week from earlier monthly highs above $49,000.
Meanwhile, 10X Research analyst Marcus Thielen argued in a client note on Monday that new longs could enter above $43,000. Thielen cited Elliot Wave analysis, and that âwave 5â to new yearly highs above $50,000 has begun.
He added that fundamental catalysts such as subsiding GBTC sales, US stocks pushing to new record highs and Google allowing Bitcoin & Crypto ETF ads to commence from Monday could act as Bitcoin price tailwinds.
Bitcoin Price Catalysts to Watch This Week
The Bitcoin price is at an important crossroads given it is probing its 21 and 50DMAs.
A sustained break above here and the 50% Fibonacci retracement of the Bitcoin priceâs recent pullback could confirm bullish momentum. Thatâs way down from the near 20K BTC token per day it was dumping in recent weeks.
#BinanceMissions #TrendingTopicChallenge #SUBROOFFICIAL #BTCđ„đ„ #cryptonews
This weighed heavily on the Bitcoin price, helping to pressure BTC back to the $38,000s last week from earlier monthly highs above $49,000.
Meanwhile, 10X Research analyst Marcus Thielen argued in a client note on Monday that new longs could enter above $43,000. Thielen cited Elliot Wave analysis, and that âwave 5â to new yearly highs above $50,000 has begun.
He added that fundamental catalysts such as subsiding GBTC sales, US stocks pushing to new record highs and Google allowing Bitcoin & Crypto ETF ads to commence from Monday could act as Bitcoin price tailwinds.
Bitcoin Price Catalysts to Watch This Week
The Bitcoin price is at an important crossroads given it is probing its 21 and 50DMAs.
A sustained break above here and the 50% Fibonacci retracement of the Bitcoin priceâs recent pullback could confirm bullish momentum. Thatâs way down from the near 20K BTC token per day it was dumping in recent weeks.
#BinanceMissions #TrendingTopicChallenge #SUBROOFFICIAL #BTCđ„đ„ #cryptonews
A currency with a future #NFP will achieve profits. This is in my opinion and is not investment advice $BTC $ETH $NFP
#grayscale
#BTCđ„đ„
#Polyhedra
#grayscale
#BTCđ„đ„
#Polyhedra
BTC/USDT: Breaking Free from a Descending Broadening Wedge
$BTC
Pattern Breakdown:
Descending Broadening Wedge:
Characterized by lower highs (LH) and lower lows (LL), this pattern reflects increasing volatility and a potential exhaustion of selling pressure.
Historically, these patterns often resolve to the upside as buyers reclaim control.
--------------------------------------
Current Structure:
BTC has bounced from the lower boundary of the wedge, showing signs of a bullish reversal.
The price action aligns well with the theoretical breakout strategy depicted in the diagram, highlighting a high-probability long setup.
--------------------------------------
Key Levels to Watch:
Immediate Resistance: The upper boundary of the wedge around $98,000 serves as the first hurdle.
Breakout Target: A successful breakout above $98,000 could push BTC toward the highlighted supply zone at $101,200-$102,000.
Support Levels: Critical support rests near $93,500, where bulls need to maintain control to preserve the bullish outlook.
--------------------------------------
Momentum Indicators:
Volume: A noticeable decline during the wedge's formation suggests consolidation, often preceding a strong breakout.
Relative Strength Index (RSI): The RSI is turning upward from oversold levels, signaling increasing buying pressure.
--------------------------------------
Trade Setup:
Entry: Watch for a confirmed breakout above $98,000.
Targets: The first target lies at $101,200, with the potential for further upside toward $105,000 if momentum sustains.
Stop Loss: A break below $93,500 invalidates the bullish scenario.
#BTC #write2earn! #BTCđ„đ„ #BTCNextMove #BinanceAlphaAlert
Pattern Breakdown:
Descending Broadening Wedge:
Characterized by lower highs (LH) and lower lows (LL), this pattern reflects increasing volatility and a potential exhaustion of selling pressure.
Historically, these patterns often resolve to the upside as buyers reclaim control.
--------------------------------------
Current Structure:
BTC has bounced from the lower boundary of the wedge, showing signs of a bullish reversal.
The price action aligns well with the theoretical breakout strategy depicted in the diagram, highlighting a high-probability long setup.
--------------------------------------
Key Levels to Watch:
Immediate Resistance: The upper boundary of the wedge around $98,000 serves as the first hurdle.
Breakout Target: A successful breakout above $98,000 could push BTC toward the highlighted supply zone at $101,200-$102,000.
Support Levels: Critical support rests near $93,500, where bulls need to maintain control to preserve the bullish outlook.
--------------------------------------
Momentum Indicators:
Volume: A noticeable decline during the wedge's formation suggests consolidation, often preceding a strong breakout.
Relative Strength Index (RSI): The RSI is turning upward from oversold levels, signaling increasing buying pressure.
--------------------------------------
Trade Setup:
Entry: Watch for a confirmed breakout above $98,000.
Targets: The first target lies at $101,200, with the potential for further upside toward $105,000 if momentum sustains.
Stop Loss: A break below $93,500 invalidates the bullish scenario.
#BTC #write2earn! #BTCđ„đ„ #BTCNextMove #BinanceAlphaAlert
BTCUSDT major supports are holding the price what if it break?
$BTC
For sure(90% sure) the supports which are mentioned on the chart with green zones will break to the downside and Bitcoin bellow 90K$ support would be crazy and so many stop loss will hit with high volume there, even more fall and dump is expected like the red arrows on chart.
Notice: we may have more range here or even fake rise before the next phase of dump which will start again and soon.
#BTCđ„đ„ #Write2earn! #BTCNextMove #MarketPullback #BinanceAlphaAlert
For sure(90% sure) the supports which are mentioned on the chart with green zones will break to the downside and Bitcoin bellow 90K$ support would be crazy and so many stop loss will hit with high volume there, even more fall and dump is expected like the red arrows on chart.
Notice: we may have more range here or even fake rise before the next phase of dump which will start again and soon.
#BTCđ„đ„ #Write2earn! #BTCNextMove #MarketPullback #BinanceAlphaAlert
creating đ„đ„ history đ„soonđ„ ...................đ„đ„đ„đ„đ„đ„
đ What is Ooki?Ooki is a powerful and fully decentralized margin trading, borrowing, and lending platform with a ton of features.Ooki is a protocol for margin trading, borrowing, lending and staking. Ooki Protocol allows anyone to build applications that enable lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol o#BinanceSquareTalks n multiple blockchains. Ooki is a fully decentralized, community-run project, governed by the community vote for all major changes to the protocol. đ€follow @cryptooryxđ Ooki - Whatâs Next?Ooki is constantly innovating and developing cutting edge features to its users. The following are a few of the upcoming features available for Ooki users:đ Permissionless Listingsđ Decentralized Limit Ordersđ OOKI Token đThe OOKI token is a governance token that allows the Ooki community to govern the protocol through staking OOKI token and voting in the Ooki DAO. The Ooki ecosystem is designed to emphasize community control over the protocol through governance, fee sharing, and voting.đ Innovation đOoki Protocol is a fully decentralized, trustless protocol enabling users to margin trade long or short with leverage, borrow, and lend.đ Trading đTrading is at the core of Ooki Protocol. Users can easily open long or short leveraged trading positions at fixed interest borrowing rates.đ Borrowing/Lending đOoki Protocol allows users to borrow funds with collateral, and also lend out funds and earn interest. A unique feature of Ooki Protocol is the existence of dynamic interest rates to ensure borrowers and lenders receive optimal rates when opening new positions on Ooki. This dynamic rates engine targets an 80% utilization rate and will keep pools optimally utilized.đ Staking đOOKI token holders can stake OOKI tokens and receive a portion of protocol revenue. 50% of fees generated by the protocol are distributed to OOKI stakers. The remaining 50% of fees are allocated to the insurance fund and Ooki treasury.đ Ookiverse đOoki Protocol currently supports four blockchains: Ethereum, Polygon, Binance Smart Chain, Optimism, and Arbitrum. New blockchains will be added regularly following community consensus.đ Governance đOoki Protocol is governed by the OOKI token. Holders of the OOKI token may stake their token and participate in voting and governance.The Ooki community is creating innovative, cutting edge financial software with a focus on radical decentralization. It creates unstoppable applications that are sustainable, efficient, and rent free. The global financial system is filled with middlemen that can and will be replaced by software, and Ooki is that software.đ DAO đ #BinanceBlockchainWeek Ooki DAO treasury facilitates the DAOs mission to fund critical development, reward ongoing contributors, grow the protocol, express values, and increase longevity. Proposals submitted to the DAO are first discussed in the forum, and then once community consensus is reached the proposals proceeds to Snapshot vote, followed by onchain voting.$OOKI $BTC $BNB #BTCđ„đ„ #BNB #ooki
đBTC TO $86,850 đ§
$BTC
Based on my TA, BTC has now confirmed a short term trend change on the smaller time frames which will result in relief / pull back on the higher time frames (W,M).
BTC recently just crossed over the SMA's, pulled back and rejected them as well as a major key level. There is also the case of the SMA's (21/9) crossing over on the 4hr indicating a trend change confirmation.
On the higher time frames we also has deceleration and exhaustion from the candles showing a relief period and pull back is in coming which of course will result in a trend change again on the smaller time frames.
We also have the issue of the FED stating they are not looking to hold a BTC reserve and won't be changing their opinions anytime soon regardless of Trumps open supportiveness of Crypto.
The fib is also confirming a bear market as it is aligning very nicely with key levels and targets to the downside. I have entered at the LH which is the same area the market rejected the crossover of the SMA's.
We'll likely see some consolidation / resistance around the $94,500 price mark as it is a major key level imo but if we break that level then BTC will likely fall to the golden ratio market out by the fib which also happens to align with another major key level of $86,850 which is my overall target.
Of course i will lock in profits along the way, i have a small stop on this trade of just 2.5% located just above the cross over of the SMA's for some protection from TA.
#btcđ„đ„ #BTCNextMove #ElSalvadorBTCReserve #MarketPullback #write2earn
Based on my TA, BTC has now confirmed a short term trend change on the smaller time frames which will result in relief / pull back on the higher time frames (W,M).
BTC recently just crossed over the SMA's, pulled back and rejected them as well as a major key level. There is also the case of the SMA's (21/9) crossing over on the 4hr indicating a trend change confirmation.
On the higher time frames we also has deceleration and exhaustion from the candles showing a relief period and pull back is in coming which of course will result in a trend change again on the smaller time frames.
We also have the issue of the FED stating they are not looking to hold a BTC reserve and won't be changing their opinions anytime soon regardless of Trumps open supportiveness of Crypto.
The fib is also confirming a bear market as it is aligning very nicely with key levels and targets to the downside. I have entered at the LH which is the same area the market rejected the crossover of the SMA's.
We'll likely see some consolidation / resistance around the $94,500 price mark as it is a major key level imo but if we break that level then BTC will likely fall to the golden ratio market out by the fib which also happens to align with another major key level of $86,850 which is my overall target.
Of course i will lock in profits along the way, i have a small stop on this trade of just 2.5% located just above the cross over of the SMA's for some protection from TA.
#btcđ„đ„ #BTCNextMove #ElSalvadorBTCReserve #MarketPullback #write2earn
âŒïžđ„łA letter of Thanks ,This Ecosystem Proudly announcing their utmost Gratitude towards their communities đâŒïž
In the spirit of gratitude and unity, Islamic Coin Teams extend heartfelt thanks to each #islamiccoin Maxi for unwavering dedication and passion. The collective belief has propelled Islamic Coin to new heights, and the teams are deeply honored by the strength of the Ummah.
In August, Zealy was introduced, a space crafted exclusively for the #ISLM community. It has become a vibrant hub where over 45,000 ISLM Maxis come together to bond, share, and empower the values and principles that define Islamic Coin.
To express appreciationl, Islamic Coin Teams are excited to announce a special gesture. The top 122 #ISLM Maxis on the Zealy leaderboard, individuals with points exceeding 6900 XP, will be rewarded with 500 $ISLM each! This recognition is a token of gratitude for unique contributions to our shared goal.
$BTC $ETH $XRP
#bitcoiners #BitcoinETF #BTCđ„đ„ #airdrop
In the spirit of gratitude and unity, Islamic Coin Teams extend heartfelt thanks to each #islamiccoin Maxi for unwavering dedication and passion. The collective belief has propelled Islamic Coin to new heights, and the teams are deeply honored by the strength of the Ummah.
In August, Zealy was introduced, a space crafted exclusively for the #ISLM community. It has become a vibrant hub where over 45,000 ISLM Maxis come together to bond, share, and empower the values and principles that define Islamic Coin.
To express appreciationl, Islamic Coin Teams are excited to announce a special gesture. The top 122 #ISLM Maxis on the Zealy leaderboard, individuals with points exceeding 6900 XP, will be rewarded with 500 $ISLM each! This recognition is a token of gratitude for unique contributions to our shared goal.
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