The BTC/USDT price can move for any number of reasons, but in this analysis, we will base it on the recent price patterns.
The price pattern in blue is taken from August 7th to August 28th, 2023. It was applied to the price on August 22nd, and so far, it has been moving similarly, as you can see on the chart.
If the same pattern continues, the BTC/USD could drop to 21,000 USD, according to the chart. However, the market moves in mysterious ways, so it is better to be safe than sorry and keep your guard up. Monitor the price action and price resistance levels to find your trade ideas.
Happy trading, and may the force be with you.
The price pattern in blue is taken from August 7th to August 28th, 2023. It was applied to the price on August 22nd, and so far, it has been moving similarly, as you can see on the chart.
If the same pattern continues, the BTC/USD could drop to 21,000 USD, according to the chart. However, the market moves in mysterious ways, so it is better to be safe than sorry and keep your guard up. Monitor the price action and price resistance levels to find your trade ideas.
Happy trading, and may the force be with you.
Nota
Good morning,The price seems stable within the blue price pattern price range. As long as it continues, we could still see the drop in price as indicated in this chart.
As always, stay safe (by practicing risk management) and stay vigilant (by monitoring the price action/resistance levels).
Happy trading, and may the force be with you.
Nota
Good day, The force seem to be with buyers at the moment.
In addition, as USD dropped today and showing potential to drop more, BTC seem to go up.
Nota
UPDATE: + USD/JPY Buy Resistance Hit
+ BTCUSD Sell Resistance Hit
Nota
+ S&P Sell Resistance HitNota
UPDATE NEWS: Matrixport, a crypto services provider with over $3 billion in assets under management, is turning cautiously bullish on bitcoin.(Crypto services provider Matrixport, which has more than $3 billion in assets under management)
Points:
- They believe that Treasury yields are likely to drop, which would push risk assets, including cryptocurrencies, higher.
- They are recommending that traders take long positions in bitcoin with a tight stop loss below $25,800.
- This means that traders should buy bitcoin now, but set a limit order to sell if the price drops below $25,800.
Source: CoinDesk (Aug 29, 2023 at 5:17 p.m.)
Nota
Will the market forces trigger their stop loss?Nota
UPDATE BTC: Buy Resistance Hit
Nota
BTC JUMPNota
Nota
The above chart shows how we could be back on track, if we break the trend line.Nota
Nota
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.