Bitcoin (BTC) analysis thread

Waanderlust posted:
Hey, your analysis is good. Everyone has gradually started losing hope and they think it is the end for bitcoins. However, I still believe they will rise again.

I really don't there would be an end as many billionaires has ownership in the asset.

Bitcoin has been bearish in the daily chart by obeying a trend line. It may head towards the last swing low again. It seems the Bull is not going to dominate in Bitcoin soon.

Bearish still for me all day long. Until we test the 28k level and then break the 30k range I'm bearish. I still think there is liquidity to grab in a deep discount around 12k.

Waanderlust posted:
Hey, your analysis is good. Everyone has gradually started losing hope and they think it is the end for bitcoins. However, I still believe they will rise again.

Thanks and not everyone has gradually started losing hope, only the crypto newbies do this.

Looks like it has found support at the old ATH, could be a key psychological level

The level of 18650 seems to be working as a level of support in the daily chart. The price has been bullish upon having double bounces. It may head towards the North for a while. The level of 27500 may work as a level of resistance in Bitcoin.

For the last 1 week, the BTC value has been fluctuating around 23k usd price level. We can expect it to rise in the coming week as the price level is gradually increasing. Although a recent news article by cloud wisdom suggested that nearly 36% crypto traders expect bitcoin to reach $30k mark by the end of this august, most economic analysts have kept the $36k mark as a target by the end of this year. Since the US Fed rates are increasing, and an economic recession is likely to happen, we cannot expect a high recovery of bitcoin too soon. However, bitcoin is sure to rise within 2-3 years timeframe.

Still stuck at the 20K mark. Seems like a breakout is pending with the ranges tightening

HertzTrader posted:
The recent rise in BTC following the outbreak of coronavirus has confirmed belief that BTC is digital gold. There will be a rush to BTC next time there are any economic jitters. I will be buying dips from now on

I strongly agree with you, because in the future era digital money is likely to replace the existing paper money, and many countries are now going digital.

Bitcoin has been very bullish today. The H4 chart shows that the price found its support at 22750 and made a good bullish move. It is having a bearish correction at the moment. The level of 24200 may hold the price as a level of flipped support and push the price towards the North.

Btc looking to long from 21k support. This could be the beginning of a fairly large upswing

Im still looking for it to hit 12k personally

BTC is only for investing, and still I don't even know if it's worth buying anymore.. I'm looking into DeFi projects like WEIcrypto and I also think Ethereum has more prominence than BTC. Might be wrong tho, I'm only thinking out loud

My recent analysis is that bitcoin will rise again in the next year hopefully! I am mind blown by your analysis BTW. Great job!

marco_mmbiz posted:
I don't expect anything before August... 😄

Oh, well... 😀

marco_mmbiz posted:

marco_mmbiz posted:
I don't expect anything before August... 😄

Oh, well... 😀

It looks ripe to clear the liquidity resting below them lows before a move up. Hopefully its just a wick swipe and then bullish from there

Cistern posted:
BTC is considered to be a very good long term investment! During Covid, it bounced back and is better. Beginners should consider investing in bitcoin as its price is low these days.

I think so too. I think there is so much institutional money there that it is going to be moving up soon. I am still looking at the 12K mark and then a reaction

Pushing down hard at the minute! wonder if 12k will be hit

Stuck in a range at the moment which doesn't suit my trading style. Will be sitting on my hands until we see some life long or short.