Options IVs have fallen towards all-time lows across a set of different expiries. For instance, the IV of 1mth, 3mth, and 6mth expiries sit at all-time lows.
@Banaa_898
@Banaa_898
π₯2
Forwarded from CoinBis Official
Support Level
π A support level is the price at which an asset may find difficulty falling below as traders look to buy around that level.
π Usually, the markets prove unwilling to let an asset drop below its support level, with buyers stepping in to raise the assetβs price higher again.
π That makes them the opposite of resistance levels: the point at which the markets prove unwilling to let an assetβs price rise any higher.
π If an asset does move below its support level, then that support level is either wiped out β and a new support level must be identified β or reconfirmed, if lots of traders buy the asset.
π@coinbissupportπ
π A support level is the price at which an asset may find difficulty falling below as traders look to buy around that level.
π Usually, the markets prove unwilling to let an asset drop below its support level, with buyers stepping in to raise the assetβs price higher again.
π That makes them the opposite of resistance levels: the point at which the markets prove unwilling to let an assetβs price rise any higher.
π If an asset does move below its support level, then that support level is either wiped out β and a new support level must be identified β or reconfirmed, if lots of traders buy the asset.
π@coinbissupportπ
Bitcoin Battles For $21K Following US DOJ News, Volatility Incoming? (BTC Price Analysis)
With Bitcoinβs recent price rally, many assume that the bear market is over. But is it too early to call bottoms?
The Daily Chart:
On the daily timeframe, the price has been rallying over the past couple of weeks, breaking above multiple static resistance levels and the significant 200-day moving average. The large falling wedge pattern has also been broken to the upside, which is usually considered a bullish reversal signal.
From a classical price action standpoint, the cryptocurrency seems likely to target the $25K level in the short term.
However, the RSI indicator suggests that BTC is massively overbought, and a bearish pullback or reversal is also highly probable in the short term. In this case, the broken 200-day moving average located around the $19,500 mark and the $18K area could be counted on as potential support levels, which could push the price higher toward the $25K mark.
With Bitcoinβs recent price rally, many assume that the bear market is over. But is it too early to call bottoms?
The Daily Chart:
On the daily timeframe, the price has been rallying over the past couple of weeks, breaking above multiple static resistance levels and the significant 200-day moving average. The large falling wedge pattern has also been broken to the upside, which is usually considered a bullish reversal signal.
From a classical price action standpoint, the cryptocurrency seems likely to target the $25K level in the short term.
However, the RSI indicator suggests that BTC is massively overbought, and a bearish pullback or reversal is also highly probable in the short term. In this case, the broken 200-day moving average located around the $19,500 mark and the $18K area could be counted on as potential support levels, which could push the price higher toward the $25K mark.
#Bitcoin now started a consolidation range, which is confirmed. Price is moving towards the upper range, which might go for a breakout. Price is already floating above stront resistance and next major level around $24,450 - $24,880
#REVIEW BITCOIN
Quite hard to choose between two setups, so I'll show you both:
1. Bull flag (in grey) can easily take us to $23750 and then right to $24750! Understandable continuation of the macro move, most likely #BTC will go for a correction after that!
2. Bear triangle - the price already broke and retested the possible triangle. Hard to determine targets here, but I'm sure at least $22k should be hit in this case!
SPX affects #BTC a lot, I think that if the breakout on SPX is true, crypto will follow. In case of a fakeout, bear triangle is in play!
Quite hard to choose between two setups, so I'll show you both:
1. Bull flag (in grey) can easily take us to $23750 and then right to $24750! Understandable continuation of the macro move, most likely #BTC will go for a correction after that!
2. Bear triangle - the price already broke and retested the possible triangle. Hard to determine targets here, but I'm sure at least $22k should be hit in this case!
SPX affects #BTC a lot, I think that if the breakout on SPX is true, crypto will follow. In case of a fakeout, bear triangle is in play!
#Bitcoin continue to move inside the consolidation range as expected. Price did made a good stop-hunt on 4H, but bais if for upside. Alternatively, if range broke below $22,300 then, we've clean range till $21,300 and lower.
The public bitcoin miners have released their production updates for the first month of 2023, revealing continuous hashrate expansion and significant growth in bitcoin production from the previous month. By Hashrateindex.
Mayor of Lugano, Switzerland says in March they will unveil a spring school program for Bitcoin education.
https://twitter.com/bitcoinmagazine/status/1628486871419420672
https://twitter.com/bitcoinmagazine/status/1628486871419420672
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