Bitcoin BTC Analysis thread

Still feeling the sell despite this leg up.

1 Like

I do too its down around 29k atm it doesnt seem to have the strength to make more than a mild retracement

this is a big support level with multiple rejections. Not seeing the bullish price action i would want on lower time frames though. Another big drop if this does not hold!

Still no strong impulse moves up. Think this is a breather to break through 25k

Bitcoin may consolidate within 31000-28000. If it gets bullish, it has to make a strong bullish breakout at 31K. The buyers may wait for the price to make a breakout followed by breakout confirmation and a bullish reversal candle around 31K to push the price towards the upside.

1 Like

Looks like it is in need of a retracement to address that imbalance then continue down to around 21k

No confidence in the longs, i am seeing more bearish stucture myself

Still nothing convincing me any break out of this recent consolidation around 30k will be bullish

1 Like

Iā€™m biased unfortunately seeing any consolidation as a move upwards with bitcoin but Iā€™m in agreement $25k is the next stop

1 Like

Potentially, I see why everybody is eying that level but overal I see a bullish market and these prices are great levels for accumulation

Even though it has broken Daily structure? Heading into a really testing time for stocks and crypto I can only see this being bearish for a little while.

2 Likes

Yeah the Fundamentals wouldnā€™t fill you with enthusiasm or optimism.
Bear market for another while yet

Me too, i think the added threat of a global recession is weighing heavily on BTC atm as its seen as riskier than others

This bottom signal almost appeared like I see. The problem is that weā€™ve not reached the bear flag target yet. All is in the mist yet with 60:40 in advance of the bears.
But letā€™s think positive. :wink: I`ve read this article today and itā€™s very interesting point of view I can say. ā†’ Tim Draper: Women will drive the next Bitcoin bull market

2 Likes

It is for sure a retracement even if it is a deep one. Onwards and upwards long term no doubt

Bitcoin has been choppy recently. The level of support looks strong, but the buyers in the daily chart are waiting for the price to create a good bullish momentum.

Thank you for sharing, a very interesting read :+1:

I donā€™t think they are. Institutions donā€™t buy on the up, they buy on the down.

1 Like

100% all savvy investors buy in a discount and sell at a premium

And most of retail do the exact opposite. FOMO and FUD affect them the most.