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$BTC Technical Analysis of #Bitcoin (BTC/USDT)
📉 Bitcoin is currently in a downward wave after failing to maintain the level of 112,854.93 (current resistance).
The price is very close to the support level of 110,862.5, which is considered critical:
If this level is broken with a clear close below 110,862, we may see a drop towards the next support at 108,870.07 and then 106,404.86.
If the price stabilizes above 110,862.5 and rebounds upwards, we may see a retest of the level 112,854.93.
#BTC #ETH
📉 Bitcoin is currently in a downward wave after failing to maintain the level of 112,854.93 (current resistance).
The price is very close to the support level of 110,862.5, which is considered critical:
If this level is broken with a clear close below 110,862, we may see a drop towards the next support at 108,870.07 and then 106,404.86.
If the price stabilizes above 110,862.5 and rebounds upwards, we may see a retest of the level 112,854.93.
#BTC #ETH
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$BTC
– Expected weekly close (candle at the end of Sunday 24/8)
The likely scenario:
With the momentum declining and strong resistance at 117400, it is likely that the week will close within the range of 115300–116100
with a weekly candle having a long upper shadow indicating selling pressure at higher levels.
The second possibility (less likely): a sharp breakout above 117400 with strong volume pushing the close near 118000–118500
but it requires a breakout with trading volume greater than the average by at least 30%, which we have not seen so far.
– Risk advice
• Any negative breakout
below 114500 will retest 113000–111700.
• The overall
trend is still bullish, so any pullback towards 111700–112000 is considered a medium-term buying opportunity
with a stop below $110400.
• For day traders:
trade between 114500–117200 until the picture becomes clearer.
Expected weekly close: 115800± 300 $ with the possibility of forming a weekly “doji” or “pin-bar” candle indicating
market indecision at resistance, paving the way for a sideways oscillation session during the next week before
taking a new direction.
– Expected weekly close (candle at the end of Sunday 24/8)
The likely scenario:
With the momentum declining and strong resistance at 117400, it is likely that the week will close within the range of 115300–116100
with a weekly candle having a long upper shadow indicating selling pressure at higher levels.
The second possibility (less likely): a sharp breakout above 117400 with strong volume pushing the close near 118000–118500
but it requires a breakout with trading volume greater than the average by at least 30%, which we have not seen so far.
– Risk advice
• Any negative breakout
below 114500 will retest 113000–111700.
• The overall
trend is still bullish, so any pullback towards 111700–112000 is considered a medium-term buying opportunity
with a stop below $110400.
• For day traders:
trade between 114500–117200 until the picture becomes clearer.
Expected weekly close: 115800± 300 $ with the possibility of forming a weekly “doji” or “pin-bar” candle indicating
market indecision at resistance, paving the way for a sideways oscillation session during the next week before
taking a new direction.
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$BTC
#Analysis #BTC
The monthly close was very good, and we achieved a new closing peak at the level of $107,146
However, the close on today's candle was not good; it is considered weak and indicates a continuation of the decline. The price may continue to drop towards the area of 106,000 – 104,000, which is considered a relatively good support area.
🚨 Breaking this support area could push the price towards 102,000, and we may then see 98,000.
🔸 For investors:
The situation is not bad; there are more than one suitable points for entry and accumulation.
However, I expect that during this period, accumulation will be on leading currencies, and there will be a detailed clarification of this matter, God willing.
🔹 For speculators:
If Bitcoin continues to move within a sideways path above the level of $100,000, there may be good opportunities for speculation on alternative currencies and achieving quick profits in the short term.
It is true that this sideways path is about 8%, but it is considered relatively stable and provides some reassurance for entering trades.
However, if Bitcoin drops below the level of $100,000, we may witness a wave of fear in the market and liquidity withdrawal, which could lead to a sharp decline in other currencies.
💡 Therefore, it is essential:
To monitor trades closely
To preserve capital
To adhere to trading rules
And if you rely on daily or medium-term speculation, there must be a predefined stop-loss and prior knowledge of where to exit the trade.#BTC
#Analysis #BTC
The monthly close was very good, and we achieved a new closing peak at the level of $107,146
However, the close on today's candle was not good; it is considered weak and indicates a continuation of the decline. The price may continue to drop towards the area of 106,000 – 104,000, which is considered a relatively good support area.
🚨 Breaking this support area could push the price towards 102,000, and we may then see 98,000.
🔸 For investors:
The situation is not bad; there are more than one suitable points for entry and accumulation.
However, I expect that during this period, accumulation will be on leading currencies, and there will be a detailed clarification of this matter, God willing.
🔹 For speculators:
If Bitcoin continues to move within a sideways path above the level of $100,000, there may be good opportunities for speculation on alternative currencies and achieving quick profits in the short term.
It is true that this sideways path is about 8%, but it is considered relatively stable and provides some reassurance for entering trades.
However, if Bitcoin drops below the level of $100,000, we may witness a wave of fear in the market and liquidity withdrawal, which could lead to a sharp decline in other currencies.
💡 Therefore, it is essential:
To monitor trades closely
To preserve capital
To adhere to trading rules
And if you rely on daily or medium-term speculation, there must be a predefined stop-loss and prior knowledge of where to exit the trade.#BTC
See original
$BTC
🔍 Technical Analysis of Bitcoin – Weekly Close
Bitcoin ended the week at a level of $108,356, failing to break through the previous weekly closing high of $109,004. Nevertheless, the weekly close is considered good, but it needed additional confirmation by surpassing the previous peak to give stronger momentum to the market.
📊 The current path leans towards sideways movement, which is positive at this stage as it helps alleviate pressure on technical indicators and prepares the market for an upcoming upward movement.
🗓️ The anticipated monthly close today will be pivotal, as the highest monthly closing previously recorded was at $104,591. Closing above this level will give Bitcoin a strong boost to continue the upward path.
🔒 Maintaining the level of $104,000 - $106,000 as a critical support zone on the weekly close is very important. Staying above this level reinforces the strength of the upward trend in the medium term and indicates that what we are witnessing now is a period of consolidation and a healthy pause for the market.
📈 With God's permission, and with the continued positive sideways movement above support levels, the overall outlook remains positive, and a resumption of the rise is expected in the coming period.
🔍 Technical Analysis of Bitcoin – Weekly Close
Bitcoin ended the week at a level of $108,356, failing to break through the previous weekly closing high of $109,004. Nevertheless, the weekly close is considered good, but it needed additional confirmation by surpassing the previous peak to give stronger momentum to the market.
📊 The current path leans towards sideways movement, which is positive at this stage as it helps alleviate pressure on technical indicators and prepares the market for an upcoming upward movement.
🗓️ The anticipated monthly close today will be pivotal, as the highest monthly closing previously recorded was at $104,591. Closing above this level will give Bitcoin a strong boost to continue the upward path.
🔒 Maintaining the level of $104,000 - $106,000 as a critical support zone on the weekly close is very important. Staying above this level reinforces the strength of the upward trend in the medium term and indicates that what we are witnessing now is a period of consolidation and a healthy pause for the market.
📈 With God's permission, and with the continued positive sideways movement above support levels, the overall outlook remains positive, and a resumption of the rise is expected in the coming period.
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