Bitcoin faces a decisive moment: Massive pump vs. back to lo | Ben Walther på Binance Square

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Bitcoin faces a decisive moment: Massive pump vs. back to low 60s. 
I am curious about your opinion!
Where do you see $BTC by the end of the week? Let me know!
#Bitcoin 

80 incoming

53%

Back to 60

33%

Sideways

14%

776 röster • Omröstningen avslutad

0 personer gav dricks till skaparen.

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AAVE — The One That Shines AAVE has been one of the strongest players for the last weeks/months. However, the token hasn't yet given us the entry we are looking for. But let's do it step-by-step. Strong support: AAVE can rely on super-strong support at $120. Buyers absorbed every dip at this level, regardless of how heavily the overall market corrected. Higher highs: AAVE has been printing higher highs while the rest of the market is in a downtrend. Conversely, AAVE hasn't been able to hold above the $132 resistance and confirm the breakout on a higher timeframe. This would be mandatory for us to enter a long trade. At the moment, it is more likely that AAVE will revisit $120 again before making a new move toward the resistance at $132. $AAVE #AAVEUSDT⚡️⚡️

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Bitcoin — Short-Term Analysis Although the U.S. stock market did relatively okay yesterday, Bitcoin continued its bearish move. On the daily chart, BTC made another lower low and dipped below 56k for the first time since the beginning of August. Today, the market is slightly recovering. However, so far, this doesn't look healthy. Accordingly, I would be cautious with long trades (actually, it is not the time for longs at all). To print a reversal, Bitcoin must do the following: * Break above the sideways channel's (previous) support line (57.5k) * Make a higher high (58.5k) * Break above the descending channel's upper resistance This looks rather unlikely based on the current momentum, sentiment, and volume. As a first challenge, it will be vital to see if Bitcoin can move above 57.5k.

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🚨 Keep Your Eyes on Total3! Altcoin market (ex-ETH) has shed $240B since March, nearing a critical $525B support. Every breakout? Rejected. A drop below $525B could mean a fall to $460B or $425B.

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What's Good Bitcoin? Bitcoin — Short-Term Analysis Once again, I have to start the short-term analysis with "unfortunately." Unfortunately, Bitcoin did not show enough strength yesterday to create a higher high and break out of its descending channel. Descending channels typically suggest a continuation of the downward trend. In fact, it didn't even reach the upper resistance. Currently, Bitcoin trades slightly above 57k. As a result, the short-term outlook is slowly turning bearish, especially since Bitcoin is struggling to hold the 57.5k level. More than ever, Bitcoin must follow through on yesterday's bullish momentum, leave the downtrend channel, and make a higher high (>59.5k). Otherwise, a drop to a lower level (53k) becomes increasingly likely. Bitcoin — 1D Analysis The daily chart looks slightly better than the short-term outlook. Bitcoin printed a strong candle yesterday, driven by increased volume. Even more crucial, Bitcoin closed above the essential 57.5k level. However, as the chart shows, Bitcoin has been struggling with this level for several days. From a broader view, nothing has changed and the long-term bull flag is still valid.

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