Bitcoin technical analysis

Dumpos : bitcoin baaaaaaad
Bitcoin deeeeaaaaad

Not-KPMG : oh look here ...

9300 greenos lately, imagine that

see what I mean.

According to NKPMG I'm a dumb American this is why I never voted for DJT and never will It looks like that NKPMG is a DJT wannabe copying his morale standard and attitude. If he doesn't copy DJT NKPMG is worse than I thought

Nothing to report Bitcoin went down by $2 toady.

Yooooo crybabies up there



Schmuck complaining of Bitcoin when it was barely 50 bucks.
In 2013



Cretin DIDN'T BUY bitcoin when he saw it under $50.

Can't stop laughing

Bitcoin went down by $21 today. Looks like Bitcoin is not going anywhere soon.

I put Zwopper as my "word of the office ".

And Tuesday that'll be "krabgod".

Good jokes you're Hootch

Bullish Bitcoin

Why am I, saying the truth, oppressed by the mods???

And liars keep lying everywhere???

FF getting worse by the hour

Bitcoin had a good day going up by $367 today so the Sive Morten's analysis that I posted earlier was accurate. The bull is in control but for how long?

I think the 10,000 will be broken within next 3 months.
It looks like it will be strong support if it goes.

My only valid chart for today...

wooh wooh, slow down I need to write this down

Yesterday BTCUSD failed to go back into the uptrend channel, it hit once and went back under, for me this still leaves the short term trend undefined.

The current range of $9.0000 - $10.000 is still in play and until we dont see a clear brake and confirmation either way I will just sit back and wait, still hodling 2 BTC and other alts in 5k, the rest of my portfolio is USDC and lurking.

@trumps, it was just light fun, hope I didn't offended !

Cheers

For anyone who is trading bitcoins, this thread will prove to be very helpful for them. I am currently in the research process of the bitcoin technical analysis and trying to keep track of the market trend.

Let's analyze the clusters to evaluate the investment attractiveness of bitcoin at the moment. Here is the BitMEX:XBTUSD chart.

Despite some dramatic declines in May and June, this market continues to hold its uptrend, which is marked by three black lines. The upper line is resistance. The lower line represents support. The middle line is the central axis of the channel.

Let's focus on the action of the last week to understand the current sentiment of the market.


15 June, the price declined rapidly with a spike in volume. However, candle closed at the top.
Interpretation. It was a false breakdown, aimed to captivate the bears in the trap and trigger congestion of stop-loss orders, which was "hidden" under the low of June 11 and round level of 9,000. Once the price has broken the 9,000 level, followed by massive sales. They can be characterized as Panic. Delta was extremely red. However, the subsequent closing around the top of the day confirmed that this was not a genuine selling pressure, but rather the activity of professionals who absorb Panic selling from the hands of an emotional public. This is the traditional way in which major players accumulate their long positions.

June 20, the price has tested the lower support line. And as you can see, at the low of the day volume profile were thin. It suggests that the sellers were inactive. The price can not break down the support level without increased volume, thereby support line confirmed its validity.

The following day, June 21, we had the lowest volume for many weeks. Interpretation. It was a day of indecision and the silence before the storm. A slight fluctuation of the market in such cases likely to develop into a powerful movement.

On 22 June, we got a sharp rise in prices. Please note that Delta was green and the total volume of trading increased. After a day of indecision? the market by its own demonstrated, which direction is more interesting to develop.

So what? Given the current uptrend and signals of strength on the previous days, we can say that June 22 was a change of trend. Interestingly, this day means a change of another trend. Indeed, after June 22 the days get shorter and nights get longer.

What to expect in the coming days and what's the plan?

The chart shows that the market has rebounded from the support line of the upward channel. In this case, the longs are more preferable. The most obvious targets are about the Central axis of the ascending channel, and more ambitious targets - near the upper line, the resistance line.

However, the bulls should prove its strength because the price is facing the resistance level, it is marked with a red line. This resistance was formed on June 11. The massive trading profile around 9,800 reflects the powerful efforts of the bears, after which the price fell rapidly. Bears have proven their control at this level. Therefore, we can expect resistance at 9800 in current days.

Perhaps after rising on June 22, the bulls will need some resting before launching an attack toward 9,800 resistance. If it will be successful (and this is likely), this red-line level will act as support for further growth.

Bitcoin broke the $10,000 barrier in February, May and June but swiftly went down. Looks like $10,000 is jinked

I had a little chuckle, it was a good response MisterSpread

Yeah
A decent closed break