**Chart of the day**
Not a lot of movement in the crypto market as stocks hit all time highs. Price has come back to its previous consolidation zone after it had briefly broken above. Volume is low and so is volatility, but we could definitely see more movement heading into the weekend. Even after bitcoin's death cross a little while ago, price is still maintaining itself pretty well. If we can get another higher low on this 1D timeframe, it would be a good sign for the crypto bulls trying to accumulate positions while price hovers in the low $30,000s.
Not a lot of movement in the crypto market as stocks hit all time highs. Price has come back to its previous consolidation zone after it had briefly broken above. Volume is low and so is volatility, but we could definitely see more movement heading into the weekend. Even after bitcoin's death cross a little while ago, price is still maintaining itself pretty well. If we can get another higher low on this 1D timeframe, it would be a good sign for the crypto bulls trying to accumulate positions while price hovers in the low $30,000s.
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**CHART OF THE DAY**
MKRUSD hitting a common support zone around $2580 on the 4H chart and is looking like it wants to reject the lows and push upward. However, some force keeps most major cryptos down as every push upward is followed by sell pressure taking price back to the same place. We could be looking at big money getting out or shifting their portfolios, but either way, price has a solid chance of holding up here. But a break under could mean continued downside to $2490.
MKRUSD hitting a common support zone around $2580 on the 4H chart and is looking like it wants to reject the lows and push upward. However, some force keeps most major cryptos down as every push upward is followed by sell pressure taking price back to the same place. We could be looking at big money getting out or shifting their portfolios, but either way, price has a solid chance of holding up here. But a break under could mean continued downside to $2490.
CHART OF THE DAY
I realize that dogecoin is a very controversial crypto for those who are trying to find fundamentally strong coins that look to be the best bets in this market. However, for those of you who are doge hodlers like myself, dogecoin has hit a key level on the daily chart. The 200 DMA was hit this morning and the coin is already starting to bounce. This could be a decent level to consider going long on, even if it's just a bounce, it looks like price could bounce up today. If not, there's extra support around 8 cents. Other than that, it doesn't have any real promising support, so I guess we'll see what happens. Just wanted to update you hodlers out there!
I realize that dogecoin is a very controversial crypto for those who are trying to find fundamentally strong coins that look to be the best bets in this market. However, for those of you who are doge hodlers like myself, dogecoin has hit a key level on the daily chart. The 200 DMA was hit this morning and the coin is already starting to bounce. This could be a decent level to consider going long on, even if it's just a bounce, it looks like price could bounce up today. If not, there's extra support around 8 cents. Other than that, it doesn't have any real promising support, so I guess we'll see what happens. Just wanted to update you hodlers out there!
https://a1trading.com/bitcoin-about-to-hit-major-support-how-to-trade-this/
Hey traders, I did some bitcoin analysis as it nears some major long term support!
Hey traders, I did some bitcoin analysis as it nears some major long term support!
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Bitcoin About To Hit Major Support. How To Trade This - A1 Trading Company
7/20/2021 Bitcoin has been under severe selling pressure since May of this year which has sent price back down below February levels at $29,000s. Bitcoin is already down over 6% on the week at the time of writing this. Meanwhile, crypto exchanges are getting…
Trading the news on Musk's latest interview could be the chance to buy at these lows. Here's the trade setup I see
https://a1trading.com/why-bitcoin-could-climb-back-to-60k-this-year/
Hey traders, bitcoin did end up breaking out of that falling trend line and is now shooting up! Just wrote an article covering bitcoin doge and eth for this week
Hey traders, bitcoin did end up breaking out of that falling trend line and is now shooting up! Just wrote an article covering bitcoin doge and eth for this week
CHART OF THE DAY
Bitcoin is now climbing back up after a brief sell off this morning from what might have been from taking profits. The cause of yesterday's jump was a result of a short squeeze where the shorts had to cover their positions. Price found support and bounced around $36,400 on the 1D chart and then retraced from resistance around $40,000. Amazon just released a job opening for a crypto blockchain role at the same time which gave the coin more support from investors. if this daily candle can close in the green today, we will have seven days straight of positive gains which has not been seen since March of this year.
Bitcoin is now climbing back up after a brief sell off this morning from what might have been from taking profits. The cause of yesterday's jump was a result of a short squeeze where the shorts had to cover their positions. Price found support and bounced around $36,400 on the 1D chart and then retraced from resistance around $40,000. Amazon just released a job opening for a crypto blockchain role at the same time which gave the coin more support from investors. if this daily candle can close in the green today, we will have seven days straight of positive gains which has not been seen since March of this year.
CHART OF THE DAY
Ethereum looks to be coming back up to test the highs on the 4H timeframe. A rising trend line helped price form some higher lows and highs, and the long wicks rejecting the lows suggest further upside. A test at this level of resistance could happen over the weekend when crypto markets tend to perform better
Ethereum looks to be coming back up to test the highs on the 4H timeframe. A rising trend line helped price form some higher lows and highs, and the long wicks rejecting the lows suggest further upside. A test at this level of resistance could happen over the weekend when crypto markets tend to perform better
https://a1trading.com/capital-gains-sparks-fear-in-the-crypto-world/
Could the new bill from Congress kill crypto? Here's our view!
Could the new bill from Congress kill crypto? Here's our view!
CHART OF THE DAY
ETHUSD coming up to a double top on the 1D from late May and early June around $2860s. The past 15 days have shown some tremendous movement to the upside as we've seen about a 60% move to the upside since then. This next major resistance level will probably serve as the last up until the next level significantly higher around $4185. Support lies under at $2417.
ETHUSD coming up to a double top on the 1D from late May and early June around $2860s. The past 15 days have shown some tremendous movement to the upside as we've seen about a 60% move to the upside since then. This next major resistance level will probably serve as the last up until the next level significantly higher around $4185. Support lies under at $2417.
BTC/USD 4H Chart:
Good morning traders! We will be bringing back this crypto channel. Sorry for the inactivity. Today's chart is bitcoin, which seems to be overall in a bearish trend. Price has recently pushed back up to resistance here at the 50% retracement.
For the bears: there may be some downside here, as this stronghold for sellers could entice entries. There may be some reasonable risk/reward here.
For the bulls: Watch for this level to fail. If price is able to breakout past the seller stronghold at $44,250, we could see a drive back up to the recent highs at $48,860.
Good morning traders! We will be bringing back this crypto channel. Sorry for the inactivity. Today's chart is bitcoin, which seems to be overall in a bearish trend. Price has recently pushed back up to resistance here at the 50% retracement.
For the bears: there may be some downside here, as this stronghold for sellers could entice entries. There may be some reasonable risk/reward here.
For the bulls: Watch for this level to fail. If price is able to breakout past the seller stronghold at $44,250, we could see a drive back up to the recent highs at $48,860.
BTCUSD Update! As we had discussed yesterday, it looks like Bitcoin has followed through on the sellside trend. We are seeing a bit of a bounce at $40,500. From here however, sellers are still in control overall. I would not personally be bullish on bitcoin until a breakout of this trendline.
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