Crypto Technical Analysis By CSFX

Bitcoin Talk and Cryptocurrencies
1

Daily Crypto Analysis – Bitcoin, XRP, DOGE setbacks, Cardano’s potential revival.

Introduction

Bitcoin retracted below $42,000 after an initial surge triggered by the approval of a Bitcoin Exchange-Traded Fund (ETF). Despite the ETF optimism, the market sentiment turns bearish. XRP faces a potential 9% decline as traders realize over $130 million in losses, signaling decreased demand. Dogecoin experiences a 25% decline, with retail investors retreating while whales accumulate, aiming to revive its price. Cardano ADA, resilient amid a 17.6% monthly fall, sees whales accumulating $85 million, hinting at a possible 30% recovery rally. Cryptocurrency markets exhibit varied trends, influenced by regulatory developments and investor behavior.

Markets In Focus Today – BITCOIN

Bitcoin Retreats Below $42k Following Initial ETF-Driven Surge.

Bitcoin experienced a significant pullback today, retreating below the $42,000 mark after a recent surge close to $49,000. This fluctuation in Bitcoin’s value comes in the wake of the sanctioning of a Bitcoin Exchange-Traded Fund (ETF), which initially boosted the cryptocurrency’s price. The market’s sentiment has taken a bearish turn despite the optimism earlier generated by the ETF news. A new batch of U.S. bitcoin exchange-traded funds (ETFs) has attracted strong investor interest, though it is unclear if they will be able to maintain the pace of inflows in coming weeks.

Technical Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 42803.31 | Negative Crossover | Bearish
  • MA 20 : 43236.82 | Negative Crossover | Bearish
  • MA 50 : 42168.55 | Negative Crossover | Bearish

Simple :

  • MA 10 : 43216.80 | Negative Crossover | Bearish
  • MA 20 : 43837.88 | Negative Crossover | Bearish
  • MA 50 : 43106.87 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 41.87 | Neutral Zone | Neutral

Stochastic Oscillator : 10.89 | Sell Zone | Negative

Resistance And Support Levels :

  • R1 : 44310.51 R2 : 45983.99
  • S1 : 38893.00 S2 : 37219.52

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 41881.90 | Take Profit : 39770.44 | Stop Loss : 43412.71

RIPPLE

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2

Daily Crypto Analysis – Bitcoin dips, Ethereum struggles, Doge soars Ripple-SEC clash.

Introduction

Bitcoin struggles above $41,000 as whales make strategic moves on a major exchange, closing leveraged positions and increasing USDT reserves. Ethereum faces scalability challenges with high fees affecting d App adoption. Doge coin’s market cap reaches $12 billion amid speculation of integration into Elon Musk’s X Payments. Ripple responds to the SEC, contesting the regulator’s request for what it deems irrelevant information in the ongoing legal battle.

Markets In Focus Today – BITCOIN

Bitcoin Price Ranges Sideways Above $41,000 As Whales Make Strategic Moves In BTC.

Bitcoin price is trading on the defensive above $41,000 on Monday after a week long decline. Whales on a leading crypto exchange have closed their leveraged positions, leading to a significant increase in USDT reserve. Bitcoin (BTC) is struggling on Monday morning to keep its head above volatile waters, trading at $41,000, after its value fell last week. A decline in open interest by large-wallet investors (popularly known as whales), coupled with an increase of their Tether (USDT) reserves on Bitfinex, suggests that the downward trend for BTC price could extend in the short term.

Technical Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 42183.75 | Negative Crossover | Bearish
  • MA 20 : 42780.74 | Negative Crossover | Bearish
  • MA 50 : 42093.87 | Negative Crossover | Bearish

Simple :

  • MA 10 : 42064.81 | Negative Crossover | Bearish
  • MA 20 : 43483.88 | Negative Crossover | Bearish
  • MA 50 : 43234.64 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 40.09 | Neutral Zone | Bearish

Stochastic Oscillator : 13.01 | Sell Zone | Negative

Resistance And Support Levels :

  • R1 : 44310.51 R2 : 45983.99
  • S1 : 38893.00 S2 : 37219.52

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 41056.53 | Take Profit : 38784.66 | Stop Loss : 42462.92

ETHEREUM

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3

Daily Crypto Analysis – Ripple-SEC clash, XRP dip, Bitcoin liquidations, Ethereum losses, Uniswap bearish.

Introduction

In the ongoing legal battle between Ripple and the SEC, the regulatory body files a reply supporting its motion to compel against Ripple, attempting to turn the tide in its favor. Meanwhile, XRP struggles at a three-month low. Bitcoin’s recent price drop triggers significant liquidations, with expert analysis linking it to GBTC redemptions. Ethereum faces losses, while Uni swap validates a bearish reversal pattern, causing substantial liquidations and signaling potential further declines. Market sentiment remains volatile, shaping the trajectory of major cryptocurrencies.

Markets In Focus Today – RIPPLE

SEC Files Reply Backing Its Motion To Compel Against Ripple; XRP Price Rebounds From Aug 2023 Low.

XRP price at the time of writing is at a three-month low, with the RSI sitting in the oversold zone for the first time since August 2023. Ripple and the SEC are continuing their battle, with the latter filing a reply in support of its motion to compel. The Securities and Exchange Commission (SEC) is attempting to flip one of its biggest losses into some semblance of a victory. This is evident by the most recent filing from the regulatory body against Ripple seeking court intervention over undisclosed document requests. XRP price, on the other hand, is trending in an unfavorable direction.

Technical Overview With Chart :

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Moving Averages :

Exponential :

  • MA 10 : 0.54 | Negative Crossover | Bearish
  • MA 20 : 0.56 | Negative Crossover | Bearish
  • MA 50 : 0.58 | Negative Crossover | Bearish

Simple :

  • MA 10 : 0.55 | Negative Crossover | Bearish
  • MA 20 : 0.56 | Negative Crossover | Bearish
  • MA 50 : 0.60 | Negative Crossover | Bearish

RSI (Relative Strength Index): 30.41 | Sell Zone | Bearish

Stochastic Oscillator : 13.56 | Sell Zone | Positive

Resistance And Support Levels :

  • R1 : 0.68 R2 : 0.71
  • S1 : 0.59 S2 : 0.56

Overall Sentiment: Bearish Market Direction: Sell

Trade Suggestion: Limit Sell: 0.52 | Take Profit: 0.48 | Stop Loss: 0.56

BITCOIN

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4

Daily Crypto Analysis – Bitcoin’s comeback, Ethereum loss, XRP battle, Chainlink slide.

Introduction

Bitcoin aims for a resurgence above $40,000, leaving traders uncertain about its next move after a recent correction. Long-term Bitcoin holders transferred over $430 million to exchanges during the dip below $39,000. Ethereum faces a grim narrative, erasing all gains and highlighting vulnerability in the market. XRP engages in a fierce battle, holding above the crucial 200-day EMA at $0.55. Chainlink records a 3.87% decline to $13.80 within 24 hours, maintaining an average risk assessment based on price, volume, and market cap changes.

Markets In Focus Today – BITCOIN

Bitcoin Price Eyes Comeback Above $40,000, Traders Unsure Of Where BTC Is Headed Next.

Bitcoin price made a comeback above $40,000 on Thursday, eyeing gains after the recent correction. Bitcoin’s long-term holders sent over $430 million in Bitcoin to exchanges as BTC dipped below $39,000. Bitcoin price suffered a setback after hitting its two-year high of $48,989 on January 11. The asset dropped to its 2024 low of $38,555 on Tuesday before beginning its recovery to the psychologically important level of $40,000. The approval of Bitcoin Spot ETFs by the Securities and Exchange Commission (SEC), ushered a volatility in crypto prices, and divided traders on their sentiment on BTC.

Technical Overview With Chart :

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Moving Averages :

Exponential :

  • MA 10 : 41079.58 | Negative Crossover | Bearish
  • MA 20 : 41970.96 | Negative Crossover | Bearish
  • MA 50 : 41811.60 | Negative Crossover | Bearish

Simple :

  • MA 10 : 41202.25 | Negative Crossover | Bearish
  • MA 20 : 42838.70 | Negative Crossover | Bearish
  • MA 50 : 43009.09 | Negative Crossover | Bearish

RSI (Relative Strength Index): 38.68 | Sell Zone | Bearish

Stochastic Oscillator : 15.73 | Sell Zone | Positive

Resistance And Support Levels :

  • R1 : 44312.50 R2 : 45985.97
  • S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Neutral Market Direction: Sell

Trade Suggestion: Limit Sell: 41074.25 | Take Profit: 38297.2 | Stop Loss: 42899.03

ETHEREUM

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5

Weekly Crypto Analysis – Bitcoin’s $43,750 Surge, Ethereum’s $2,000 Dip, Uniswap Drama.

Introduction

Bitcoin faces a pivotal moment with a weekly close near $43,750 as it recovers from a 20% slump. JPMorgan’s note on GBTC profit-taking sparks a potential 5% climb into an ascending channel. Ethereum drops to $2,000, while Chainlink’s price sees a 3.56% increase. Uniswap validates a bearish reversal pattern, targeting a 34% correction to $3.81, leading to $2.2 million in liquidations. Cryptocurrency market volatility remains subdued, maintaining a total market capitalization of around $1.56 trillion.

Markets In Focus Today – BITCOIN

Bitcoin Weekly Forecast As The Monthly Close Draws Near, The Significance Of $43,750 Grows.

Bitcoin price is nurturing a recovery rally after a 20% slump from the January 11 high of $48,969.BTC could climb 5% into protective custody of the ascending parallel channel as a buy signal beckons. Invalidation of the bullish outlook will occur upon a weekly candlestick close below $40,726. Bitcoin’s (BTC) price broke consolidation on the weekly time frame on Friday, but the daily time frame shows a steep downtrend. However, recovery efforts appear underway after investment firm JPMorgan said profit-taking on GBTC has largely concluded.

Technical Overview With Chart :

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Moving Averages :

Exponential :

  • MA 10 : 41271.77 | Positive Crossover | Bullish
  • MA 20 : 41914.30 | Negative Crossover | Bearish
  • MA 50 : 41799.69 | Negative Crossover | Bearish

Simple :

  • MA 10 : 40934.95 | Positive Crossover | Bullish
  • MA 20 : 42595.20 | Negative Crossover | Bearish
  • MA 50 : 42924.10 | Negative Crossover | Bearish

RSI (Relative Strength Index): 47.35 | Buy Zone | Bullish

Stochastic Oscillator : 47.78 | Buy Zone | Neutral

Resistance And Support Levels :

  • R1 : 44312.50 R2 : 45985.97
  • S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Neutral Market Direction: Sell

Trade Suggestion: Limit Sell: 42215.46 | Take Profit: 40112.99 | Stop Loss: 43832.75

ETHEREUM

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6

Daily Crypto Analysis – Crypto markets uncertain amid inflation fears.

Introduction

“Bitcoin’s brief ascent to the $50,000 milestone faces challenges as US CPI inflation data points to persistent inflationary pressure, triggering potential price drops. Ethereum eyes a 10% gain, but caution emerges with signs of falling momentum. Ripple reveals crypto custody plans amidst XRP’s sideways trading, while Chainlink hits a one-year high above $20 fueled by increased DeFi adoption and network activity.”

Markets In Focus Today – BITCOIN

Bitcoin Price $50,000 Milestone Short-Lived As US CPI Inflation Signals Persistent Inflationary Pressure.

Bitcoin price shocked the market, hitting the $50,000 milestone after two years. BTC could drop 5% into the supply zone turned bullish breaker or confirm an extended fall below $45,554. A higher high above the $50,368 range would invalidate the bearish thesis, bringing $60,000 into focus. US CPI inflation in January printed at 3.1% every year, above the 2.9% market expectation. Bitcoin’s (BTC) price has repelled the $50,000 milestone. The retraction follows the US CPI inflation data, which signaled persistent inflationary pressures.

Technical Overview With Chart :

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Moving Averages :

Exponential :

  • MA 10 : 47621.5930 | Positive Crossover | Bullish
  • MA 20 : 45776.7299 | Positive Crossover | Bullish
  • MA 50 : 43799.5841 | Positive Crossover | Bullish

Simple :

  • MA 10 : 46911.3480 | Positive Crossover | Bullish
  • MA 20 : 44804.1700 | Positive Crossover | Bullish
  • MA 50 : 43733.3678 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.4816 | Buy Zone | Bullish

Stochastic Oscillator : 94.2667 | Buy Zone | Positive

Resistance And Support Levels :

  • R1 : 47387.2295 R2 : 49860.6039
  • S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50011.09 | Take Profit: 51626.22 | Stop Loss: 49008.60

ETHEREUM

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7

Daily Crypto Analysis – Bitcoin hits $52K, Ethereum eyes $3K.

Introduction

Bitcoin marks a new range high, surpassing $50,000 and reaching $52,043, while SEC Chair Gary Gensler emphasizes the economic distinctions between BTC and the US Dollar. BTC’s upward momentum may lead to a 5% climb to $55,000, with bulls dominating the market. Ethereum (ETH) eyes a 7% surge to $3,000 if it maintains bullish momentum. XRP hits $0.5590 amid Bitcoin’s rally, with increased trade volume and a pro-Ripple response to Gensler’s comments. Dogecoin (DOGE) experiences a 7.5% surge, reclaiming its top 10 position, and surpassing Chainlink in market capitalization.

Markets In Focus Today – BITCOIN

Bitcoin Price Posts A New Range High As Gensler Details The Economic Difference Between BTC And The US Dollar.

Bitcoin price put the $50,000 milestone behind it after recording an intraday high of $52,043 on Wednesday.BTC could extend the climb by 5% to $55,000 amid rising momentum and a strong presence of bulls in the BTC market. The bullish thesis will be invalidated if the apex crypto breaks and closes below $45,554.Appearing on CNBC, SEC Chair Gary Gensler said Bitcoin is not decentralized, calling it a token of choice for ransomware. Bitcoin’s (BTC) price remains northbound, pushing to higher highs as holders keep their profit appetite in check. Meanwhile, Gary Gensler has drawn a line separating BTC from other currencies.

Technical Overview With Chart :

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Moving Averages :

Exponential :

  • MA 10 : 48578.2931 | Positive Crossover | Bullish
  • MA 20 : 46458.6635 | Positive Crossover | Bullish
  • MA 50 : 44159.2752 | Positive Crossover | Bullish

Simple :

  • MA 10 : 47943.0210 | Positive Crossover | Bullish
  • MA 20 : 45361.2990 | Positive Crossover | Bullish
  • MA 50 : 43923.6724 | Positive Crossover | Bullish

RSI (Relative Strength Index): 82.3780 | Buy Zone | Bullish

Stochastic Oscillator : 96.4489 | Buy Zone | Positive

Resistance And Support Levels :

  • R1 : 47387.2295 R2 : 49860.6039
  • S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50489.36 | Take Profit: 53470.55 | Stop Loss: 48863.25

ETHEREUM

Ethereum Price Could Leap 7% To $3,000 If ETH Bulls Keep Their Profit Appetite In Check.

Ethereum (ETH) price’s $3,000 target is now within reach as ETH bulls keep their profit appetite in check. The Proof-of-Stake (PoS) token has breached resistance due to the channel’s midline with the potential for a 7% climb to the forecasted target. However, the Proof-of-Stake (PoS) token is likely to provide a buying opportunity before the next leg up. This can be seen with the RSI bending south, a sign of falling momentum. Notably, the bullish outlook would only be threatened if Ethereum’s price falls out of the ascending parallel channel, confirmed by a close below $2,388.

Technical Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 2592.9023 | Positive Crossover | Bullish
  • MA 20 : 2498.1324 | Positive Crossover | Bullish
  • MA 50 : 2395.0465 | Positive Crossover | Bullish

Simple :

  • MA 10 : 2559.5770 | Positive Crossover | Bullish
  • MA 20 : 2428.1170 | Positive Crossover | Bullish
  • MA 50 : 2399.0594 | Positive Crossover | Bullish

RSI (Relative Strength Index): 77.6309 | Buy Zone | Bullish

Stochastic Oscillator : 94.4812 | Buy Zone | Positive

Resistance And Support Levels :

  • R1 : 2598.1573 R2 : 2733.4727
  • S1 : 2160.1027 S2 : 2024.7873

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 2715.50 | Take Profit: 2946.95 | Stop Loss: 2602.99

RIPPLE

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8

Weekly Crypto Analysis – Bitcoin $60K, Ethereum consolidates, XRP $1.

Introduction

Bitcoin (BTC) eyes the $60,000 mark but faces a potential correction, retesting a challenging resistance at $52,062. Ethereum (ETH) consolidates, providing a potential buying opportunity before the anticipated climb to $3,000. XRP inches closer to its $0.60 target, with a potential return to $1 contingent on positive developments in the SEC lawsuit. Uniswap experiences an 8.29% surge, contributing to a bullish week in the crypto space.

Markets In Focus Today – BITCOIN

BTC Eyes $60,000 But Correction Looms.

Bitcoin price retests a tough resistance level at $52,062.A lack of momentum is likely to trigger a correction and consolidation for the next few weeks. Investors can expect BTC to remain between the $52,062 to $45,156 levels. Bounce at the lower end of the potential range could see a revisit of the $58,399 weekly resistance level. Bitcoin’s (BTC) price has been moving up only since January 22 but could slip into a consolidation before the next leg up. With the rate at which BTC is climbing after the ETF approval, coupled with strong fundamentals, investors should consider buying the dips before BTC hits $60,000.

Technical Overview With Chart :

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Moving Averages :

Exponential :

  • MA 10 : 49684.4175 | Positive Crossover | Bullish
  • MA 20 : 47446.2413 | Positive Crossover | Bullish
  • MA 50 : 44753.5618 | Positive Crossover | Bullish

Simple :

  • MA 10 : 49581.1760 | Positive Crossover | Bullish
  • MA 20 : 46334.3660 | Positive Crossover | Bullish
  • MA 50 : 44301.5454 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.5399 | Buy Zone | Bullish

Stochastic Oscillator : 92.2206 | Buy Zone | Positive

Resistance And Support Levels :

  • R1 : 47387.2295 R2 : 49860.6039
  • S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50345.25 | Take Profit: 52855.56 | Stop Loss: 48970.85

ETHEREUM

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