BTC My Technical Analysis

[ranga]

I don't invest in Bitcoin, but I like playing around with Technical Analysis and here is what I am seeing.

BTC broke long term trend line (see post here #78 ) and went into short term consolidation. The overall outlook is still bearish. It broke very short term consolidation trend line at 40,100 (see pics) and next resistance is 34,500 but its a weak resistance, if it breaks it then next resistance is 30,000 which is a strong resistance, expect a pullback and/or trend change but will take a long time. If it breaks that then BTC should crash spectacularly.




Same Chart Zoomed In



Caution: Don't go by anybody analysis, use your own heads its your money.

 

[HustleTong]

I'm expecting a bounce from 34k region
Strong buying pressure is required

Do you day trade crypto btw?

 

[Chris Newman]

It is so funny seeing people still relying on technical analysis for Bitcoin.

Bitcoin price is being played by the big whales. Bitcoin price could even bottom out at US$8000 in a few months.
Tether regularly prints trillions of USDT (out of thin air) and sells it regularly at highly discounted prices to the big exchanges and the big whales. And the big exchanges & big whales work together regularly and use this regular flow of cheaply acquired funding to manipulate Bitcoin price on an ongoing basis, in order to regularly liquidate long trades and short trades, as when trades get liquidated, the exchanges make a LOT of profits, in which the whales also have their cut, which is in millions of US dollars a day, daily.
This is why 90% of crypto traders lose money, because in crypto trading, technical analysis and fundamental analysis means nothing much.
And all crypto traders like idiots are looking at technical and fundamental analysis. Bitcoin price is in the hands of the big whales and all other coins and altcoins prices fluctuate as per Bitcoin price.

 

[ranga]

It is so funny seeing people still relying on technical analysis for Bitcoin.

I see valid TA signals on the chart, first one when trend line was broken and second one when consolidation flag is broken, so decide for yourself.

 

[LuckyGamble]

I don't invest in Bitcoin, but I like playing around with Technical Analysis and here is what I am seeing.

BTC broke long term trend line (see post here https://www.blackhatworld.com/seo/10800-bitcoin-bottom-confirmed.1374003/post-14890028) and went into short term consolidation. The overall outlook is still bearish. It broke very short term consolidation trend line at 40,100 (see pics) and next resistance is 34,500 but its a weak resistance, if it breaks it then next resistance is 30,000 which is a strong resistance, expect a pullback and/or trend change but will take a long time. If it breaks that then BTC should crash spectacularly.


View attachment 209876

Same Chart Zoomed In

View attachment 209877

Caution: Don't go by anybody analysis, use your own heads its your money.

Can't wait for the crash from $30k to $10k!!
I'm buying the crash, not these small dumps

 

[nahid133]

Can't wait for the crash from $30k to $10k!!
I'm buying the crash, not these small dumps

$10k, sweet

 

[crypto-trader]

next resistance is 34,500 but its a weak resistance

You confuse resistance with support. Resistance is the upper level so when you break it price goes up not down.

 

[LuckyGamble]

if it breaks it then next resistance is 30,000 which is a strong resistance, expect a pullback and/or trend change but will take a long time. If it breaks that then BTC should crash spectacularly.

Hope btc breaks $30k! Those should be some fireworks!

 

[Deleted member 1258334]

So when is it going to recover? I don't want to take a 30% loss, but bills need to be paid.

 

[Markverse]

So when is it going to recover? I don't want to take a 30% loss, but bills need to be paid.

"Bills need to be paid"
That's what many are most concerned about these days. And it's the reason BTC nay crash spectacularly this time around, and may take long to recover.

 

[Deleted member 1258334]

"Bills need to be paid"
That's what many are most concerned about these days. And it's the reason BTC nay crash spectacularly this time around, and may take long to recover.

Should I take the loss and put my money in a stablecoin then?

 

[thegreatonee]

Should I take the loss and put my money in a stablecoin then?

Stable coin? Usdt is almost dead

 

[Deleted member 1258334]

Stable coin? Usdt is almost dead

It's not?

 

[LuckyGamble]

So when is it going to recover? I don't want to take a 30% loss, but bills need to be paid.

Should I take the loss and put my money in a stablecoin then?

I would just take enough crypto out to pay the bills, then keep hodling

 

[Markverse]

I would just take enough crypto out to pay the bills, then keep hodling

You would do this weekly or monthly if the bills are recurring?

I think there's no easy way out. He has to check his options and make the call himself.

 

[LuckyGamble]

You would do this weekly or monthly if the bills are recurring?

I think there's no easy way out. He has to check his options and make the call himself.

Well, if he doesn't have enough cash to pay his bills, then he has to get cash out from crypto as he is too commited.

 

[Deleted member 1258334]

I would just take enough crypto out to pay the bills, then keep hodling

I keep most of my money in crypto, so that's not a possibility.

 

[LuckyGamble]

I keep most of my money in crypto, so that's not a possibility.

Then, I would just hodl bitcoin. At least you can't get rug pulled lol

 

[Deleted member 1258334]

Then, I would just hodl bitcoin. At least you can't get rug pulled lol

I can't HODL because I need to withdraw money every once in a while to pay the bills and some other stuff, as I said before.

 

[LuckyGamble]

I can't HODL because I need to withdraw money every once in a while to pay the bills and some other stuff, as I said before.

Then cashout 100% your crypto then buy the crash once that happens