BTCUSDT 3/25/2022

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BTCUSD

The Last Chance

Multi-timeframe analysis of BTCUSDT

BTCUSDT has been deteriorating for some time now. FOMO and being down a bunch will blind your eyes.


Weekly chart analysis
April 27, 2020 was a great day. Price closed above the 50ema and stayed above it. The start of the continuation of BTCUSDT uptrend.
The candlesticks were small above the 50ema, momentum was low, and the smart traders ate ‘em up.
As price gained momentum, the candlesticks expanded and shot the price up. Price went from 8k and topped at around 60k before if came tumbling down.
By May 2021, Price fell all the way back down to the 50ema and touched it for the 1st time in about a year.
July 12, 2021, price closed below 50 ema and ending the trend.
Price bounced off the 50ema and broke previous highs of 60k and making new all-time highs.
The breakout was shorted lived and price fell back under 60k. The “breakout “ was deemed a false breakout.
As the price bounced back down from resistance @ 60k, price is unable to reclaim and stay above the 50ema.
Price is currently in a sideways range under 50ema after the down move. We are currently looking at a possible bear flag.
We also see BTCUSDT losing a lot of momentum. There is currently a bearish divergence between price and the MACD indicator.
The last support is the 200ema and price is currently over-extended from it.

Weaknesses
Price has broken previous trend it was respecting in 50ema.
Unable to hold breakout which resulted in “false breakout”
Price is under 50ema and its over-extended from its last line of support in 200ema.
Bearish Divergence between MACD and price action. Price was going up, yet momentum was going down

Daily Chart Analysis
Here we can see the inability of price to hold any horizontal or dynamic support levels and continue the uptrend.
We can see price moving sideways unable to stay above any of the EMAs and start to trend to higher prices again.
The “false breakout” we saw in the weekly chart, we can see the clear Double top pattern on daily chart.
Price fell below 60k and started to move underneath both the 50 and 200 ema.
Jan. 2022, we continue to see price head lower and we had a Death cross between 200 & 50 ema to further signaling the bearish conditions.
After the down move from 60k, price now finds itself in a small sideways price channel beneath the 200 ema.
Price is currently at resistance area around 45k.
Stochastic is currently overbought at resistance
MACD is exhausted at resistance

Weaknesses
Price is unable to stay above any of the EMAs.
Price has been moving downwards below dynamic resistance from EMAs and now finds itself consolidating below 200ema.
Price is overbought and MACD is expanded at resistance level. Price has used up too much momentum on its move to resistance. It will not have the strength to break thru.
Death cross confirming bearish conditions.

Consider this your last chance to get out at a decent price.
Expect price to breakdown from its current range and confirm the bear flag.
Price will fall to its last line of support, the 200ema on the weekly chart.
Expecting price to drop to 26k
노트
No volume on "breakout". Expecting price to fall back into price channel and breakout to be deemed a "false breakout".
노트
We'll be back under 44k very shortly.
노트
Back under 44k as forecasted
노트
After false break out, price falls back into bear flag pattern.
Will now look for price to break down out of flag support and confirm bear flag pattern and continuation of down move.
Price to 30k
노트
and we are at 30k
거래청산: 타겟 닿음
26k target hit
Moving AveragesMultiple Time Frame AnalysisOscillators

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