#BTC Update

Bitcoin needs to hold above $47500 to continue the run up. If bitcoin close daily candle below $47.5k we are likely to see correction to $45k and lower.

It is good time to book some profits in alts and re-enter on bounce.

#BTC Update

Bitcoin has closed below $47.5k key support level and 200 Day Moving Average.

Closing below 200 MA is indication of downtrend so we can expect Bitcoin to retest next support level $42k in next 1-2 weeks.

➡️ SHORT BCHUSDT

❇️ Entry: 439 - 449

☑️ Target 1: 422.60000000

☑️ Target 2: 370.20000000

☑️ Target 3: 330.80000000

⛔ Stoploss: 469.40000000

💫 Leverage : 10x

BitMEX, ByBit USDT, Binance Futures
#BCH/USDT Take-Profit target 1 ✅
Profit: 37.3576% 📈
Period: 2 Days 3 Hours 4 Minutes ⏰

Kazakh government resigns, shuts down internet amid protests, causing Bitcoin network hash rate to tumble 13.4%

No timeline exists as to when the internet will switch back on in the second-biggest Bitcoin mining country in the world. -Link

📊 #BTC Update

As predicted in last analysis the bitcoin has reached our $42k target. BTC is in downtrend as it is trading below 200 day moving average.

📉 Major Support : $40k & $36k

📈 Major Resistance : $46k & $50k

Few of the Alts are bullish in short term because of the falling bitcoin dominance in the crypto market.

➡️ SHORT BTCUSDT

❇️ Entry: 42200 - 43200

☑️ Target 1: 40490.00000000

☑️ Target 2: 37980.00000000

☑️ Target 3: 35870.00000000

⛔️ Stoploss: 45610.00000000

💫 Leverage : 10x

Binance Futures
#BTC/USDT Take-Profit target 1 ✅
Profit: 40.5213% 📈
Period: 4 Hours 1 Minutes ⏰

Bitcoin Fear and Greed Index is 10 - Extreme Fear
Current price: $41,789

Binance Futures
#BCH/USDT Take-Profit target 2 ✅
Profit: 150.0387% 📈

#BTC breaking out the range its been consolidating in shorter time frame.

A double bottom also inside the range.

I expect short term rise to resistance area before continuing downtrend. (alts will follow)

The Fed is broadly seen to start raising interest rates in the coming months, this making investors de-risk and causing a headache for crypto bulls. “Easy money,” which began flowing in 2020, will now be much harder to come by.

It's worth mentioning the open CME gap at around 32.5k & 24k

There is possibility of drop to these levels because of :

- Double top on daily chart
- BTC trading below 200 moving average
- FED monetary policies
- CME Gaps acts like Magnet
- Major crash before next halving (800 days to go)

Be ready to accumulate in major crash.

$BTC is Following $SPX.

Macro factors are at play here and more important than anything else at the moment.

If bitcoin loose 40k support next key support level is at $36k.

📊 New CPI numbers coming out jan 12th, Be careful for the next hour or so.

The last time #Bitcoin pumped on CPI numbers it was a massive fake out 📉 - If that happens again then be ready.

#BTC Update

Bitcoin is trading in choppy range so we need to wait for the breakout to opening a long or short position in the market.

📉 BTC Death Cross Analysis :

- For previous Top, it took 67 days till death cross. Same for the current Top.

- Followed by 31 days of sideways movement before bulls took over.

If the right half were to follow, it would be more 1-2 weeks of sideways of action.

📊 BTC Update

- Bitcoin is likely to go sideways or hover around $40k (5-10% price change) for 1-2 weeks more, Because of the major support at $40k & the resistance at $44k.

- If daily candle close below $40k then next imp support level to watch is $37k. Bulls will take over the control if Daily candle close above $44k resistance.

Altcoins are not looking good few random altcoins can outperform while others get REKT hard.

#BTC $40k 2021 vs #BTC $40k 2022

➡️ SHORT BTCUSDT

❇️ Entry: 41800 - 42800

☑️ Target 1: 39999.00000000

☑️ Target 2: 37530.00000000

☑️ Target 3: 35445.00000000

⛔ Stoploss: 43985.00000000

💫 Leverage : 10x

ByBit USDT, Binance Futures, BitMEX
#BTC/USDT Take-Profit target 1 ✅
Profit: 54.3972% 📈
Period: 1 Days 9 Hours 20 Minutes ⏰