Cryptocurrency
LONG AVAXUSDTThere is good Opportunity for longing of AVAX in the area of 50 % and 60% Fib retracement level.
The reasons for this trade:
1- Clear break out of Resistance level with with good volume.
2- The has become above the 200MA of 4 hrs.
3- The Feb levels is making confluence with retest of resistance level.
Entry points are: $14.5 and $14
Stop loss: $13.5
Target : $20
BTC/USD - Weekly OverviewBitcoin started 2023 on a positive note as the price level formed a rising channel pattern on the chart. Considering moving averages, MA-10 is trading above both MA-20 and MA-50, which is again a positive sign for the world’s largest cryptocurrency.
The RSI level is also showcasing an extremely positive nature with a breakout to the overbought region. At the same time, this may also suggest that we can witness a profit-booking momentum for BTC in the near term with the level exhausted at 77.91.
Overall, BTC is yet to break above the crucial resistance levels of $18K and $20K, respectively. In case of a turn of events, it can have support at $16K and $15K, respectively.
BTC/USD - Quarterly Overview (Q4'22)The last quarter of 2022 turned out to be the most damaging one for the world’s largest cryptocurrency. As the price level was able to maintain sustainability above the crucial support level of $18K, the collapse of the centralized exchange, FTX, resulted in a bloodbath in the overall market conditions. Thereafter, BTC suffered a new 52-week low of approximately $15.5K. Since then, the price level did not climb above the psychological mark of $20K ever again. Due to the downside, the price level of $18K has become a major hurdle for Bitcoin to break above. It did test the resistance mark during December but was unable to break above.
Considering the current momentum, since the start of 2023, Bitcoin is forming a potential rising channel pattern that could retest the resistance present at the 0.382 FIB level. Until then, we can expect the world’s largest digital asset to move in a consolidating nature. Otherwise, a breakout above $18K can be a potential signal for bullish momentum in the near term. The support levels for BTC can be placed around $16K and $15K, whereas, the resistance levels can be placed at $18K and $20K, respectively.
Added More To Short Position of ETHUSDT Hello every one I added more in my position after rejection this 15 minutes candle.
This conviction as follow:
Swept the Stop loss and big red rejection at my interested area which 4hrs Time frame supply zone. This type of movement at supply zone confirms the activation big player.
This idea is continuation of linked idea and it is not new position.
BTC emergency update Recent update on BTC, Chart is speaking for itself, further if any update, we will share that
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