💰#BTC is currently trading within the Ichimoku cloud, positioned above both horizontal and trendline support levels. The market is exhibiting short-term indecision. ✔️
💬A bullish confirmation would entail a substantial volume bounce and a breakout above the Ichimoku cloud.
Conversely, if there is a sustained breakdown of the trendline, it is anticipated that the market will experience further correction.👀
❄️@signals_bitcoin_crypto❄️
❄️@Shadow_support0o❄️
💰#BTC is holding above the horizontal and the key ascending trendline support. The price is inside the Ichimoku cloud, which is a sign of indecision in the market. ✔️
💬A break above the Ichimoku cloud would be the bullish confirmation, while a sustained breakdown of the trendline would be a sign of correction in the market.
❄️@signals_bitcoin_crypto❄️
❄️@Shadow_support0o❄️
💰#BTC again pumped after clearing stops below the horizontal support. RSI is in the oversold region. Currently, it is retesting above the MA 200. A bullish move is expected, if it continues to trade above the horizontal support.👀
❄️@signals_bitcoin_crypto❄️
❄️@Shadow_support0o❄️
Bakkt's aiming to raise up to $1 billion by filing Form S-3 with the SEC for stock, debt, or warrants
🪙
Plus, the updated policy paves the way for #BTC purchases
🚀
💰#BTC is presently maintaining a position above the last critical horizontal support, which is pivotal for preventing further loss of momentum among bulls. The RSI is currently situated in the oversold region and is exhibiting signs of a bullish divergence.👀
This suggests the potential for a reversal in the market. However, it's important to note that a sustained breakdown of the horizontal support would serve as confirmation of an impending correction in the market.
📉
❄️@signals_bitcoin_crypto❄️
❄️@Shadow_support0o❄️
💰#BTC bounced from the ascending trendline support and faced the MA 100 and the Ichimoku cloud resistance. ✔️
💬A breakout of the Ichimoku cloud and the horizontal resistance would be the bullish confirmation, while a sustained breakdown of the ascending trendline would be a sign of correction.
❄️@signals_bitcoin_crypto❄️
❄️@Shadow_support0o❄️
Traders,
Let's break down the current Bitcoin/USDT chart on Binance, using the Heikin Ashi candles for a clearer trend perspective.
Market Overview:
#btc has been on a downward trajectory since mid-June, with the recent price action showing a sharp decline. We're currently trading at $56,530 as of July 6, 2024.
Trend Analysis:
The long-term uptrend that began in January has clearly lost steam.
We've seen a series of lower highs and lower lows since March, indicating a shift to a bearish mid-term trend.
The recent candles are predominantly red, signaling strong selling pressure.
Key Levels:
Support: Look for potential support around the $54,000-$55,000 range, which aligns with levels last seen in January.
Resistance: The immediate overhead resistance sits at $60,000, with a stronger barrier around $64,000-$65,000.
Targets:
Upside:
Short-term relief rally target: $60,000
IF bullish momentum returns, watch for $65,000
Major resistance and potential reversal zone: $70,000-$72,000
Downside:
Immediate support target: $54,000
If bearish pressure continues, next major support: $50,000
Worst-case scenario in this cycle could see us testing $46,000-$48,000
Recommended trading strategy:
Short-term traders: Look for oversold bounces, but be cautious of the overall bearish trend.
Long-term holders: Consider accumulating on dips if you believe in BTC's fundamentals.
Always use proper risk management. This market is showing high volatility.
💰#BTC is bouncing from the ascending trendline support. A good volume bounce and breakout of the Ichimoku cloud would be the bullish confirmation. ✔️
💬A rejection and sustained breakdown of the trendline will be a sign of correction in the market.
❄️@signals_bitcoin_crypto❄️
❄️@Shadow_support0o❄️
💰#BTC went down after the breakdown of the trendline support and the Ichimoku cloud. Currently, it is trading above the horizontal and the MA 200 support. 👀
💬A reclamation of the channel support would be a sign of bullish momentum back into the market, while a solid breakdown of the horizontal support is the bearish confirmation.
❄️@signals_bitcoin_crypto❄️
❄️@Shadow_support0o❄️