Topic: BITCOIN UPDATE AND TECHNICAL ANALYSIS (Read 271 times)
I think that the btc is the best coin ever and the tehnical analysis will be able to update the situation. To my mind, the market will become green soon and we will enjoy the changes much
The SEC’s decision to delay their ruling on a Bitcoin ETF has understandably made news headlines as cryptocurrency traders and investors alike await the verdict in anticipation.
It has been stated that this recent drop in BTC price is attributed to this decision but it is our view that it was going to happen anyway.
Back in July the $8,400 could not hold and since then, we have been in a steady decline. This is what happens in markets of all types.
As stated in my previous post, $7,129 could not hold and we are still expecting price to go lower, possibly hitting the $6,770 level, although BTC is currently flirting with $6,840 and is meeting some resistance there. It was at this price point which triggered the recent BTC bounce.
It has been stated that this recent drop in BTC price is attributed to this decision but it is our view that it was going to happen anyway.
Back in July the $8,400 could not hold and since then, we have been in a steady decline. This is what happens in markets of all types.
As stated in my previous post, $7,129 could not hold and we are still expecting price to go lower, possibly hitting the $6,770 level, although BTC is currently flirting with $6,840 and is meeting some resistance there. It was at this price point which triggered the recent BTC bounce.
At this moment, I didn't know why people is selling but I could determine that there is uncertainty that makes them sell on a lower price at a huge loss. At the moment of writing, bitcoin is traded at "$6,579.06" which is pretty near on your prediction and is expected to get lower because of the delayed final results for those 9 ETF's which is initially denied. We'll see how this could play but more of this, would be denied again and that would hurt, A LOT.
It is really hard to predict the future of Bitcoin because most times, it does not respect technical analysis but fundamental. But one thing that is certain is that crypto will always triumph at the end of the day
SEC will never accept any ETF in near future. This happening for a few years already so don't need fear about it.
btw, about BTC price it will be dump soon
I think we'll see 1 more leg up here in this market bounce, then more blood for another week
looking to load longs around 6400s
btw, about BTC price it will be dump soon
I think we'll see 1 more leg up here in this market bounce, then more blood for another week
looking to load longs around 6400s
BTC is stable for now, playing around $6200. Slowly but surely, BTC is building up momentum for the comjng of the bull market where most of the investors are positive about the market. SEC's decision on ETF itself is not directly affecting the price. It is the investors perception.
It's true that BTC is not being able to hold the higher prices as for now and personally I think it is just because of lack of enthusiasm in the people. A lot of people didn't even knew about SEC until a few months back. It's because of some people that everybody started giving it more attention than it needed. People were hoping that the bitcoin's price would increases because of SEC approval but as the news got delayed it turned out to give a negative impact on bitcoin's price and hence the price went lower than it actually was earlier.
The SEC’s decision to delay their ruling on a Bitcoin ETF has understandably made news headlines as cryptocurrency traders and investors alike await the verdict in anticipation.
It has been stated that this recent drop in BTC price is attributed to this decision but it is our view that it was going to happen anyway.
Back in July the $8,400 could not hold and since then, we have been in a steady decline. This is what happens in markets of all types.
As stated in my previous post, $7,129 could not hold and we are still expecting price to go lower, possibly hitting the $6,770 level, although BTC is currently flirting with $6,840 and is meeting some resistance there. It was at this price point which triggered the recent BTC bounce.
Frankly speaking, crypto market is largely controlled by fundamental analysis and not technical. One single news can send the price to the peak and vice versa. This is the problem crypto have to contend with. However, I have a strong believe that crypto will triumph at the end. We should expect some bull run soon IMHO.It has been stated that this recent drop in BTC price is attributed to this decision but it is our view that it was going to happen anyway.
Back in July the $8,400 could not hold and since then, we have been in a steady decline. This is what happens in markets of all types.
As stated in my previous post, $7,129 could not hold and we are still expecting price to go lower, possibly hitting the $6,770 level, although BTC is currently flirting with $6,840 and is meeting some resistance there. It was at this price point which triggered the recent BTC bounce.
The bears are very much in control of bitcoin prices in this market. The price has went all the way down because of the recent decline in Bitcoin ETF and also the postponed bitcoin ETF in September. We await to hear positive news to see if prices can jack up significantly
No its not
It went already down before the ETF Approval
and if you would notice seems like ETF disapproval is already expected
Price range still back to where it is before Aug22
some hints to consider despite of the badnews, it doesn't go low as expected
are we at the bottom yet?
As for me, it not mate because as of the few days gone by the price remain stable $6.2k and above. There's nothing to be worried about all sorts of fluctuations as long as it won't go down below $6k. We're going September and if there's a struggle from August, I think it's part of our journey towards profitable price increase. Let the bad news be bad, because we can't handle those crap minded people and it's their freedom.
The bears are very much in control of bitcoin prices in this market. The price has went all the way down because of the recent decline in Bitcoin ETF and also the postponed bitcoin ETF in September. We await to hear positive news to see if prices can jack up significantly
No its not
It went already down before the ETF Approval
and if you would notice seems like ETF disapproval is already expected
Price range still back to where it is before Aug22
some hints to consider despite of the badnews, it doesn't go low as expected
are we at the bottom yet?
In just a few days many people lose more than 15% of their money and we hope the BTC price will stabilize or will rise within a day and then we will get representation out there and will be the beginning of a bigger correction and not the end.
The bears are very much in control of bitcoin prices in this market. The price has went all the way down because of the recent decline in Bitcoin ETF and also the postponed bitcoin ETF in September. We await to hear positive news to see if prices can jack up significantly
Pro share ETF just rejected by SEC but i see in the market not really make big impact with crypto, i think the main ETF on 30 of september will be make bigger impact to the crypto market. Although rejected that mean Bitcoin not will keep going down, but just make temporary impact and then rebound again. I believe Bitcoin can go to the $20K again without Bitcoin ETF approved.
Yes, this information is right that SEC’s decision to delay their decision but I think and so many peoples are saying it will approve maybe after some time and if this update will happen and will work then Bitcoin price will really touch to the new moon.
The Proshares ETF application was denied by the SEC.
The application required a rule change to be accepted by the SEC. When handing down their decision the SEC explained that the rules could not be changed and that the decision in no way means the SEC does not believe in the viability of blockchain technology.
The Proshares application included a long and a short $BTC product tied to $BTC futures contracts. It came as no surprise that the application was rejected as the Proshares products were tied to a highly volatile and leveraged 9 month old asset class.
It should also be noted that this product is not physically backed by $BTC.
This may play well into the hands of the Vaneck-SolidX application which is due to be decided in one months time.
The SEC is tasked with protecting retail investors. The Vaneck-SolidX ETF product has a unit size of 25 $BTC with a target audience of institutional investors.
In comparison to the failed attempts of previous ETF applications, the Vaneck-SolidX application appears far superior.
The proverbial red herring rejection today will undoubtedly send the market into a downward spiral, a great shorting opportunity.
The SEC’s decision to delay their ruling on a Bitcoin ETF has understandably made news headlines as cryptocurrency traders and investors alike await the verdict in anticipation.
It has been stated that this recent drop in BTC price is attributed to this decision but it is our view that it was going to happen anyway.
Back in July the $8,400 could not hold and since then, we have been in a steady decline. This is what happens in markets of all types.
As stated in my previous post, $7,129 could not hold and we are still expecting price to go lower, possibly hitting the $6,770 level, although BTC is currently flirting with $6,840 and is meeting some resistance there. It was at this price point which triggered the recent BTC bounce.
I think this is also the reason of down trend of bitcoin but most of that is we dont really know the reason because the market has normal down and normal rise. The ups and down is normal in market. It has been stated that this recent drop in BTC price is attributed to this decision but it is our view that it was going to happen anyway.
Back in July the $8,400 could not hold and since then, we have been in a steady decline. This is what happens in markets of all types.
As stated in my previous post, $7,129 could not hold and we are still expecting price to go lower, possibly hitting the $6,770 level, although BTC is currently flirting with $6,840 and is meeting some resistance there. It was at this price point which triggered the recent BTC bounce.
Most of the guys are telling that the reason for bitcoin falling is this specific case of EFT decisions postponing. And I've heard someone that they have jurisdiction to wait 240 days until making decision.
BTC Update
Earlier today BTC dropped roughly 3.7%, falling from around $6,450 down into the $6,200 region. Price wicked the lower end of the support and consolidation zone and was propelled back higher in what is becoming the same old song and dance.
Since the 9th of August, price has consolidated and launched out of this $6,200 zone at least three times. It is apparent that the bulls do not want price to go below this point but we have so far failed to garner the momentum to push above the resistance at $6,600.
Somethings got to give
This sideways action isn’t riveting by any stretch but the recent and uncharacteristic predictability of BTC price behaviour is presenting some opportunities to capitalise on price movement within the range.
Currently we are in a no trade zone but should price continue to climb higher to $6,580 or above, we will consider looking at placing some sell orders and ride it back down.
🚨The short squeeze🚨
It looks like the short squeeze has happened after all and is pretty much at our target area for shorts right now.
We are NOT shorting just yet, but rather looking for some kind of bearish rejection candle on 4h to confirm our theory.
Keep in touch.
Earlier today BTC dropped roughly 3.7%, falling from around $6,450 down into the $6,200 region. Price wicked the lower end of the support and consolidation zone and was propelled back higher in what is becoming the same old song and dance.
Since the 9th of August, price has consolidated and launched out of this $6,200 zone at least three times. It is apparent that the bulls do not want price to go below this point but we have so far failed to garner the momentum to push above the resistance at $6,600.
Somethings got to give
This sideways action isn’t riveting by any stretch but the recent and uncharacteristic predictability of BTC price behaviour is presenting some opportunities to capitalise on price movement within the range.
Currently we are in a no trade zone but should price continue to climb higher to $6,580 or above, we will consider looking at placing some sell orders and ride it back down.
🚨The short squeeze🚨
It looks like the short squeeze has happened after all and is pretty much at our target area for shorts right now.
We are NOT shorting just yet, but rather looking for some kind of bearish rejection candle on 4h to confirm our theory.
Keep in touch.
BTCBTC climbing higher BTC is slowly grinding higher and is making its way towards the top of the consolidation range. We’ve failed to break through $6,578 previously (and prior to this $6,537) so we will be looking to see if this slow crawl up can push through these points. Both $6,800 and $7,000 look like possible targets depending on the timeframe.
It is possible that BTC is in an ascending triangle - a breakout above could present an opportunity to go long to the levels mentioned above. A rejection and subsequent breakdown below could provide a good shorting opportunity to take back down to the $6,200 level or possibly lower as this is the prevailing direction of the overall trend.
BTC
It is possible that BTC is in an ascending triangle - a breakout above could present an opportunity to go long to the levels mentioned above. A rejection and subsequent breakdown below could provide a good shorting opportunity to take back down to the $6,200 level or possibly lower as this is the prevailing direction of the overall trend.
BTC
Bulls have managed to regain some control after refusing to let BTC fall below the key support level of $5,800.
Yesterday, price did again test yearly lows, wicking $5,860 before being propelled higher to the top of the range at $6,550 which we currently find ourselves in. On the 4H we have made a double top and price has again wicked the higher extremity of $6,636 - if you dial down to the 1h, you can see that a small sell off happening.
This is to be expected after a 13% surge in price from the lower end of the range. We’re still printing lower highs and lower lows and the trend is still bearish but as we come back down, it will be important to see how BTC interacts with the $6,200 range.
If we enter into sideways consolidation here as we have done so previously at this level, we will be looking closely for signs of strength to indicate a leg higher, pressing up to $7,000.
If we break through this level we’ll be looking to short back down to $6,000 and possibly below depending on how the price unfolds – these are our musings but it is still too early to tell.
Yesterday, price did again test yearly lows, wicking $5,860 before being propelled higher to the top of the range at $6,550 which we currently find ourselves in. On the 4H we have made a double top and price has again wicked the higher extremity of $6,636 - if you dial down to the 1h, you can see that a small sell off happening.
This is to be expected after a 13% surge in price from the lower end of the range. We’re still printing lower highs and lower lows and the trend is still bearish but as we come back down, it will be important to see how BTC interacts with the $6,200 range.
If we enter into sideways consolidation here as we have done so previously at this level, we will be looking closely for signs of strength to indicate a leg higher, pressing up to $7,000.
If we break through this level we’ll be looking to short back down to $6,000 and possibly below depending on how the price unfolds – these are our musings but it is still too early to tell.
By the end of August many predicted there would be a large pump, but all the truth is still in doubt, this situation has removed a lot of investor funds
I hope that in this month the market will be free from gloom
I hope that in this month the market will be free from gloom
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