BTC Technical Analysis

[Ziskinberg]

I see that many hodlers are expecting price bull anytime now but I suspect that we are still in bear areas. I'm seeing the hammer candles though for reversal but still expecting more drop around $3650 - 3600.

Drop is possible but the price now is not moving to that direction.
I am not expecting a price increase but here we are, we are once again in the area where people starts to get bullish.
Price currently is $3,878.24 and $3,900 on some exchange, possibly we could retest the resistance again.

[1714518171]

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[1714518171]

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[1714518171]

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[CryptoReggae]

https://www.tradingview.com/x/eBCaD134Y/

[CryptoReggae]

https://www.tradingview.com/x/stc6m72v/

[CryptoReggae]

https://www.tradingview.com/x/swsCgGk2/

[Supercrypt]

I have already desisted from using all these analysis in monitoring the performance of a coin because one thing I believe I this, news does better. Some years back when BTC was just rising, it was via news I kept monitoring the performance.

I only make use of technical analysis when there is need to buy coins in order to guide me one when to enter the market but when it comes to its performance, I can’t give myself unnecessary heartache, which is one of the reason I downloaded block folio to monitor the growth of all my coins.

[CryptoReggae]

I have already desisted from using all these analysis in monitoring the performance of a coin because one thing I believe I this, news does better. Some years back when BTC was just rising, it was via news I kept monitoring the performance.

I only make use of technical analysis when there is need to buy coins in order to guide me one when to enter the market but when it comes to its performance, I can’t give myself unnecessary heartache, which is one of the reason I downloaded block folio to monitor the growth of all my coins.

Everyone has their own strategy, and the yardstick is: does it make you earn? if the answer is yes then you are following the right strategy.

Given this, BTC's movements can be analyzed with Technical Analysis which helps to understand how to operate on the market. Then also everyone has their own strategy.
Just look at the last few days (but this has always been the case) that BTC is moving only and exclusively for TECHNICAL factors. But I repeat, everyone has their own strategy, and I'm no one to judge fairness or not.

I tried to stimulate the community to face technical discussions, publishing graphics, but apparently this does not interest anyone.

I didn't want to publish only my (probably wrong) ideas, but my intent was to stir the discussion.

In this forum I see that almost everyone thinks like you, so I will consider whether it still makes sense to publish my charts. I will leave you one last post and last analysis, and if anyone cares, let me point out, at least I will have a reason to continue this practically SOLITARY discussion.

[CryptoReggae]

LAST BTC Update - LONG TERM ANALISYS

On BTC a substantial CORRECTION (not inversion) is probably in formation, which would lead us to reach important new highs of the year in the summer.
This is a correction process starting from the lows of November, and continued until today, and it is a process that will not cancel the bearish trend, but that will physiologically lead us to important values ​​that have not been seen for a long time.

This is a long-term projection, and does not rule out further short-term corrections (even $ 3600).

I personally expect a sharp upward movement, but as I have already said downward pressures in the very short term cannot be ruled out.


Prepare the LONG, we are preparing to celebrate a beautiful summer

[Jating]

Right, the selling pressure is still there and although we thought that the bears are near exhaustion specially when the price hits $3100-$3200 last November, they're still in the driver seat so there's a big possibility that we can see some drops along the way.

If we won't break that $4k mark, I'm expecting another drop to $3700. So just be be prepared and have a said trading and thanks to the OP for sharing his thoughts.

[Caladonian]

This roller coaster ride will definitely continue before we will see the real strong bull to run, investors who are looking for short term trading
will continue selling and will not support the holding period, but sooner or later when bigger investors begin to show up and start supporting
this industry, we will see the value much higher than 4k$ and will continue eventually.

Still waiting for more adoptions and more strong believers to work with this bear and start to overpower the trends.

[cryptocointrade.com]

💊 BTC Update

Correction coming?

Bitcoin after having invalidated a short-term support (now become resistance) moves sideways, reversing the short-term trend.

Is a new correction coming?
The support of the SMA 100, which supports BTC from further short-term losses, is gradually tightening the price on important resistances.
 
$ 3835, SMA 50, an important area between $ 3922 and $ 3964, and still $ 4100 are hardly surmountable resistances without a notable bull thrust, this could lead to "pushing" BTC to a further correction at least up to $ 3600 area, then from there we will go to analyze further supports and resistors.

Further correction towards the downside can be expected in the next few hours.

https://i.imgur.com/dJjEwrv.png

Also, see this fundamental analysis of Bitcoin, Bitcoin Fundamentals indicate price currently trades at discount.

[Xenrise]

Right now we are trading different cryptocurrency that are very unstable and I think that profit is really hard to find. During this time, I believe that it is hard to believe in every TA right now because of the current situation.

[CryptoReggae]

💊 BTC Update

Correction coming?

Bitcoin after having invalidated a short-term support (now become resistance) moves sideways, reversing the short-term trend.

Is a new correction coming?
The support of the SMA 100, which supports BTC from further short-term losses, is gradually tightening the price on important resistances.
 
$ 3835, SMA 50, an important area between $ 3922 and $ 3964, and still $ 4100 are hardly surmountable resistances without a notable bull thrust, this could lead to "pushing" BTC to a further correction at least up to $ 3600 area, then from there we will go to analyze further supports and resistors.

Further correction towards the downside can be expected in the next few hours.

https://i.imgur.com/dJjEwrv.png

Also, see this fundamental analysis of Bitcoin, Bitcoin Fundamentals indicate price currently trades at discount.

That was an analysis in the SHORT-TERM, and in fact it later carried out the correction.
What BTC is really worth is a discourse that goes beyond fundamental analysis. It is difficult to assess the real value of BTC, it is therefore necessary to have an overall view of the markets, of the sector in which the company operates. It can be correct or incorrect, you can understand it only with time. Certainly an incorrect fundamental analysis then leads to errors on all the technical analysis that follows..

Thank you for the link




The risk now, and you can look at my last graph (https://www.tradingview.com/x/DB8fxdcn/), is that eventually going to 5k, the mass can think that the inversion has taken place and that the Bearish trend is over, when it probably won't be.

[CryptoReggae]

Also, see this fundamental analysis of Bitcoin, Bitcoin Fundamentals indicate price currently trades at discount.

In your post you state that : "The number and value of transactions are the best metrics for assessing the demand to use the network. "
but the number of transactions in recent months is not reliable.

According to statistics published this week, Veriblockcaptures more than 30-45 percent of transactions on a good day.
Since March 4, Veriblock has stopped "flooding" the bitcoin network, and the number of transactions has dropped dramatically.
This is a typical example of how unfortunately it is easy to fall into error. The consequences are those of taking into consideration "falsified" data to attribute a value to BTC that is not real.

[CryptoReggae]

💊 BTC Update

Correction coming?

Bitcoin after having invalidated a short-term support (now become resistance) moves sideways, reversing the short-term trend.

Is a new correction coming?
The support of the SMA 100, which supports BTC from further short-term losses, is gradually tightening the price on important resistances.
 
$ 3835, SMA 50, an important area between $ 3922 and $ 3964, and still $ 4100 are hardly surmountable resistances without a notable bull thrust, this could lead to "pushing" BTC to a further correction at least up to $ 3600 area, then from there we will go to analyze further supports and resistors.

Further correction towards the downside can be expected in the next few hours.

https://i.imgur.com/dJjEwrv.png

Also, see this fundamental analysis of Bitcoin, Bitcoin Fundamentals indicate price currently trades at discount.

That was an analysis in the SHORT-TERM, and in fact it later carried out the correction.
What BTC is really worth is a discourse that goes beyond fundamental analysis. It is difficult to assess the real value of BTC, it is therefore necessary to have an overall view of the markets, of the sector in which the company operates. It can be correct or incorrect, you can understand it only with time. Certainly an incorrect fundamental analysis then leads to errors on all the technical analysis that follows..

Thank you for the link




The risk now, and you can look at my last graph (https://www.tradingview.com/x/DB8fxdcn/), is that eventually going to 5k, the mass can think that the inversion has taken place and that the Bearish trend is over, when it probably won't be.

it's nice to review the graphs posted
I can't even post an image .....

[Botnake]

it's nice to review the graphs posted
But what else needs to be done to deserve merit? I can't even post an image .....

So you make this thread for merit?  I see it.
Actually, it's not hard to get merit, as long as your post is helpful but you can't tell people to give you merit, merit will just come if they like giving it.
Just continue sharing, this forum is built to share ideas and opinion, and merits are given to those who deserve it.

Don't expect it, it will come as a surprise.

[hyunee]

it's nice to review the graphs posted
But what else needs to be done to deserve merit? I can't even post an image .....

So you make this thread for merit?  I see it.
Actually, it's not hard to get merit, as long as your post is helpful but you can't tell people to give you merit, merit will just come if they like giving it.
Just continue sharing, this forum is built to share ideas and opinion, and merits are given to those who deserve it.

Don't expect it, it will come as a surprise.

Yep sure is. It's like begging for merits and it is against in the rules as far as I know. Just continue in sharing your opinion regarding the market and probably if you're right and justified your belief, maybe someone will merit you.

[CryptoReggae]

it's nice to review the graphs posted
But what else needs to be done to deserve merit? I can't even post an image .....

So you make this thread for merit?  I see it.
Actually, it's not hard to get merit, as long as your post is helpful but you can't tell people to give you merit, merit will just come if they like giving it.
Just continue sharing, this forum is built to share ideas and opinion, and merits are given to those who deserve it.

Don't expect it, it will come as a surprise.

I think you misunderstood me. I don't care about any merit, nor am I asking (I removed the ambiguous part of my place), but you understand that there is no stimulus to post something that is not even visible.


With this I close because I am OT

[guoyu78]

Right now we are trading different cryptocurrency that are very unstable and I think that profit is really hard to find. During this time, I believe that it is hard to believe in every TA right now because of the current situation.

Exactly you cannot trust and follow every technical analysis or fundamental analysis. A technical analysis few days ago read that Bitcoin will rise to $7k in the market. Different people have different opinions based on the technical analyses they do so I think that regardless of technical analysis, an investor should stay in the market. Risk is there I know but the rising trend is back to the action as well which can make the profits double regardless of how accurate with our analysis. I guess this one way of market trend makes crypto markets as a favorite one for most traders.

[CryptoReggae]

Well, the April ascent we can conclude that it is near its peak, it's time to reverse the trend.

Ready?

[Kiweikoo]

💊 BTC Update

Correction coming?

Bitcoin after having invalidated a short-term support (now become resistance) moves sideways, reversing the short-term trend.

Is a new correction coming?
The support of the SMA 100, which supports BTC from further short-term losses, is gradually tightening the price on important resistances.
 
$ 3835, SMA 50, an important area between $ 3922 and $ 3964, and still $ 4100 are hardly surmountable resistances without a notable bull thrust, this could lead to "pushing" BTC to a further correction at least up to $ 3600 area, then from there we will go to analyze further supports and resistors.

Further correction towards the downside can be expected in the next few hours.

https://i.imgur.com/dJjEwrv.png

These analysis are wrong at times. The one I read before was saying different from what is being said here. Buh whatever, I already knew that there is not going to be anything better this first quarter of the year. I really hope that things change by the end of the year. 🙄 Tired of the price dropping at all times, I rely mostly on the long term strategy and that’s not working out if price continues like this.