$BTC /USDT ANALYSIS Bitcoin has broken down from the rising | E L E N on Binance Square

Trending Articles

Bookmarked and Liked

--

$BTC /USDT ANALYSIS
Bitcoin has broken down from the rising wedge pattern with significant volume. The 21MA is now acting as a resistance barrier, while the 50MA is providing support. 
A retest of the pattern followed by a breakdown below the 50MA could lead to further downside. Keep an eye on upcoming price action for confirmation.

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

BTC

116,360.97

-1.01%

442

0

Explore the latest crypto news

⚡️ Be a part of the latests discussions in crypto

💬 Interact with your favorite creators

👍 Enjoy content that interests you

Email / Phone number

Relevant Creator

@elonjames

Explore More From Creator

$QUICK /USDT- Neutral with Bearish Bias $QUICK token is currently trading at $0.0245, reflecting a -2.81% decline over the past 24 hours. The price is consolidating within a narrow range, indicating a neutral market sentiment. However, recent technical indicators suggest a bearish bias, with the token struggling to maintain upward momentum. 📊 Fibonacci Levels: Key Support and Resistance Zones Analyzing the recent price action, key Fibonacci retracement levels are as follows: 23.6% Retracement: ~$0.0255 38.2% Retracement: ~$0.0265 50.0% Retracement: ~$0.0275 61.8% Retracement: ~$0.0285 The current price is testing the 23.6% retracement level, which may act as a support zone. A break below this level could lead to further declines towards the 38.2% retracement level. 📉 RSI: Neutral Momentum The Relative Strength Index (RSI) is currently at 50, indicating a neutral market momentum. This suggests that neither buyers nor sellers have a clear advantage, and the market may continue to consolidate until a breakout occurs. 🎯 Entry Zones Safer Entry: Consider entering around $0.0240 if the price shows signs of support and a potential reversal. Aggressive Entry: A break above $0.0255 with increased volume could offer a more aggressive entry point. 💰 Take-Profit Zones TP1: Target $0.0265 as an initial resistance level. TP2: A move towards $0.0275 if bullish momentum continues. 🚫 Stop-Loss Ideas Conservative: Place a stop-loss just below $0.0230 to protect against significant downside. Tight: Set a stop-loss around $0.0235 to minimize potential losses while allowing for minor fluctuations. 🔍 Summary While $QUICK is currently in a neutral consolidation phase, recent technical indicators suggest a bearish bias. Traders should monitor key support and resistance levels, as well as the broader market sentiment, before making significant positions.

--

$LINK /USDT-Bullish Consolidation Chainlink ($LINK) is currently trading at $25.54, experiencing a slight decline of 0.27% over the past 24 hours. The price is consolidating after a strong rally, holding above the critical support level of $20. Maintaining this support could sustain momentum toward resistance levels at $28–$32. A loss of this support zone risks a deeper correction back to $15. 📊 Fibonacci Levels: Retracement Analysis Analyzing the recent swing from the low at $15 to the high at $30, key Fibonacci retracement levels are: 23.6%: ~$26 38.2%: ~$24 50.0%: ~$22.5 61.8%: ~$21 The current price is near the 23.6% retracement level, suggesting a potential support zone. A decisive move below $24 could lead to further declines towards the 38.2% level. 📉 RSI: Overbought Conditions The Relative Strength Index (RSI) is currently at 80, indicating overbought conditions. This suggests that $LINK may be due for a short-term pullback or consolidation before resuming its upward trend. 🎯 Entry Zones Safer Entry: Consider entering around $24 with a confirmation of support. Aggressive Entry: A break above $26 with increased volume could offer a more aggressive entry point. 💰 Take-Profit Zones TP1: Target $28 as an initial resistance level. TP2: A move towards $32 if bullish momentum continues. 🚫 Stop-Loss Ideas Conservative: Place a stop-loss just below $20 to protect against significant downside. Tight: Set a stop-loss around $23 to minimize potential losses while allowing for minor fluctuations. 🔍 Summary While $LINK shows signs of potential support near the 23.6% Fibonacci retracement level, the overbought RSI suggests caution. Traders should monitor key levels and consider the broader market sentiment before making significant positions.

--

$CRV /USDT- Neutral with Bearish Bias :( $CRV is currently trading at $0.8879, experiencing a slight uptick of 0.76% over the past 24 hours. Despite this, the overall trend remains neutral, with a bearish bias due to recent price action and technical indicators. Key support is observed around $0.83, with resistance at $0.90. A break below $0.83 could signal further downside, while a move above $0.90 may indicate a bullish reversal. 📊 Fibonacci Levels: Retracement Analysis Analyzing the recent swing from the low at $0.83 to the high at $1.05, key Fibonacci retracement levels are: 23.6%: ~$0.98 38.2%: ~$0.93 50.0%: ~$0.89 61.8%: ~$0.85 The current price is near the 50% retracement level, suggesting a potential support zone. A decisive move below $0.85 could lead to further declines towards the 61.8% level. 📉 RSI: Bearish Divergence The Relative Strength Index (RSI) is currently at 45, indicating neither overbought nor oversold conditions. However, recent price action shows a bearish divergence, where price makes higher highs, but RSI makes lower highs, suggesting weakening bullish momentum. 🎯 Entry Zones Safer Entry: Consider entering around $0.89 with a confirmation of support. Aggressive Entry: A break above $0.90 with increased volume could offer a more aggressive entry point. 💰 Take-Profit Zones TP1: Target $0.98 as an initial resistance level. TP2: A move towards $1.05 if bullish momentum continues. 🚫 Stop-Loss Ideas Conservative: Place a stop-loss just below $0.83 to protect against significant downside. Tight: Set a stop-loss around $0.85 to minimize potential losses while allowing for minor fluctuations. 🔍 Summary While $CRV shows signs of potential support near the 50% Fibonacci retracement level, technical indicators suggest caution. Traders should monitor key levels and consider the broader market sentiment before making significant positions.

--

$AWE /USDT-Neutral consolidation. $AWE is currently trading at $0.05197, showing a slight uptick of 0.58% from the previous close. The price has been oscillating between $0.049 and $0.053, indicating a period of consolidation. Immediate resistance is at $0.053, with support around $0.049. A breakout above $0.053 could signal a bullish trend continuation. Fibonacci Levels: Drawing from the recent high of $0.0586 on August 8 to the low of $0.0521 on August 5, the 61.8% Fibonacci retracement level is approximately at $0.055. The price is currently testing the 50% retracement level at $0.055, with the next target at the 78.6% level around $0.057. RSI: The 14-day Relative Strength Index (RSI) is at 47.0, indicating a neutral market sentiment. The weekly RSI is at 77.6, suggesting potential overbought conditions and a risk of pullback. Entry Zones: Safer: $0.049–$0.050, aligning with strong support levels. Aggressive: $0.051–$0.052, entering near current price levels with caution. Take-Profit Zones: TP1: $0.055, a key resistance level. TP2: $0.057, aligning with the 78.6% Fibonacci retracement. Stop-Loss Ideas: Conservative: $0.048, below the recent low. Tight: $0.050, just below the 50% Fibonacci retracement.

--

$TOWNS /USDT-Bearish consolidation. After reaching an all-time high of $0.07013 on August 5, $TOWNS experienced a significant pullback, stabilizing between $0.02965 and $0.032. Immediate resistance is at $0.036, with support at $0.030. A breakout above $0.036 could signal a bullish reversal. Fibonacci Levels: Drawing from the August 5 high of $0.07013 to the August 7 low of $0.02965, the 78.6% retracement at $0.030 has acted as strong support. The price is currently testing the 61.8% retracement at $0.033, with a potential target at the 1.618 extension around $0.042. RSI: The Relative Strength Index (RSI) is currently at 47.0, indicating a neutral market sentiment. The weekly RSI is at 77.6, suggesting potential overbought conditions and a risk of pullback. Entry Zones: Safer: $0.030–$0.032, aligning with strong support levels. Aggressive: $0.033–$0.034, entering near current price levels with caution. Take-Profit Zones: TP1: $0.036, a key resistance level. TP2: $0.042, aligning with the 1.618 Fibonacci extension. Stop-Loss Ideas: Conservative: $0.02965, below the recent low. Tight: $0.030, just below the 78.6% Fibonacci retracement.

--

Latest News

Circle Internet Group Acquires Malachite Consensus Engine for Blockchain Network

--

Starknet Community Approves v0.14.0 Update for September Launch

--

Bitcoin(BTC) Surpasses 116,000 USDT with a Narrowed 1.86% Decrease in 24 Hours

--

BNB Surpasses 840 USDT with a Narrowed 2.42% Decrease in 24 Hours

--

WisdomTree Digital Fund Sees Significant Growth in Recent Months

--

Trending Articles

XRP Crypto News: Price Surge as Top Validator Calls Bitcoin "Dangerously Centralized"

BeMaster BuySmart

💥 WHAT REALLY HAPPENED WITH GCV (Global Consensus Value) A

This analysis will make you rich while trading Solana

Why You Keep Missing Good Trades (And How to Fix It)

YouTuber Saadur Rehman Arrested!

Cookie Preferences

Cookie Preferences