World Crypto Global Official Site

Author: Scott Matherson

LMACD Indicator Reveals Where The Bitcoin Price Is After Rejection From $97,000

The Bitcoin price faced a rejection following its surge to $97,000 last week. Technical expert Tony Severino has commented on this development and alluded to the LMACD indicator, which has revealed what is next for the flagship crypto. What Is Next For The Bitcoin Price After Rejection At $97,000 In an X post, Tony Severino stated that multiple BTC timeframe analyses using the LMACD indicator suggest that the Bitcoin price is in a precarious position. He remarked that if the daily momentum crosses bearish, it could prevent the weekly bullish crossover and pull the weekly LMACD below zero. This would cross the monthly LMACD back bearish. Related Reading: Bitcoin Raging Bull Indicator Turns Back On, But This Level Holds The Key With several important timeframes in sync, Severino warned that market participants could see a more aggressive down move for the Bitcoin price. On the other hand, the technical expert noted that the daily LMACD diverging upward could cross the weekly bullish and avoid another monthly crossover, which could be bullish. However, he suggested that a Bitcoin price decline is more likely at the moment, as the monthly LMACD is the most dominant of the three signals, which looks to hint at a downtrend. He added that this indicator also has the strength to pull the other timeframes with it. Severino failed to mention how low BTC could drop on this projected price decline. Meanwhile, crypto analyst Ali Martinez also warned about a potential Bitcoin price decline. In an X post, he stated that BTC could soon pull back as the TD Sequential indicator is flashing a sell signal. The analyst warned that if Bitcoin loses the $94,765 support level, it could drop to as low as $90,000 or even $86,000. How History Could Repeat Itself For BTC Crypto analyst Rekt Capital raised the possibility of the Bitcoin price repeating a similar move from last year. For history to repeat itself, he noted that BTC would need to reject from $99,000, hold above $93,500, break the $97,000 to $99,000 range, reject from $104,500, hold the $97,000 to $99,000 range as support, and then break out to new all-time highs (ATHs). Related Reading: Bitcoin Price Confirms Breakout To $106,000 As Technicals Align Commenting on the current price action, crypto analyst Titan of Crypto noted that the Bitcoin price is pulling back to a key support confluence. He added that a strong reaction from this current zone would confirm that the upward trend remains intact. His accompanying chart showed that the $95,423 price level is the area to watch. Failure to reclaim this level soon enough could start a downtrend for the flagship crypto. At the time of writing, the Bitcoin price is trading at around $94,700, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com

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WATCH: Will Powell’s Friday Speech Send Bitcoin Soaring? Daily TA August 25, 2022

Author: Tony Spilotro

United Kingdom

Source: NewsBTC

Aug 25, 2022 04:45

WATCH: Will Powell’s Friday Speech Send Bitcoin Soaring? Daily TA August 25, 2022

In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at the the impact an upcoming speech from US Fed Chair Jerome Powell could have on Bitcoin price action. Take a look at the video below. VIDEO: Bitcoin Price Analysis (BTCUSD): August 25, 2022 The US Fed Reserve Chair Jerome Powell will speak at the global central banking conference in Jackson Hole, Wyoming, focusing on the future economic outlook. Depending on if that outlook is hawkish or dovish, Bitcoin could sink further or begin to soar. Related Reading: WATCH: Daily Technical Analysis August 24, 2022: Total Crypto Market Cap (TOTAL) Daily BTCUSD Looks Dangerous As Bears Remain Dominant On daily timeframes the picture overall isn’t looking very positive for BTCUSD and could imply that the market should expect negative news tomorrow. From top to bottom, starting with the Ichiomoku, we can see that Bitcoin lost the cloud as support and is now trading below both the Tenkan-sen and Kijun-sen. These two lines have also recently crossed bearish. The daily LMACD is also showing momentum in favor of bears. The bearish momentum is weakening, however, but could pick right back up tomorrow as markets price in whatever Powell has to say about the future of the US economy. Finally, the Average Directional Index shows that bears are in control, and the trend is back at around a reading of 20. Below 20 would suggest a trend weakening, while retesting the level and then rising higher could restart the bearish trend. The daily timeframe has recently turned bearish | Source: BTCUSD on TradingView.com Related Reading: Measuring Trend Strength With The ADX Weekly Momentum Highlights Pivotal Potential Turning Point Switching to the same tools on the weekly timeframe also shows Bitcoin and the rest of the crypto market at a pivotal moment. Price was rejected from above to back below the Tenkan-sen. The LMACD is also still crossed bearish and ready to either cross up or diverge downward further. The ADX shows that bears still have the upper hand, but the trend has started to flatten which could indicate that the worst is over on higher timeframes. With only a week remaining in the month of August, combined with both Powell’s comments and the weekly timeframe at a pivotal turning point, we should get a clearer picture soon regarding if a bull trend is blossoming, or if the bearish trend is about to worsen. Weekly momentum could cross up or continue down further | Source: BTCUSD on TradingView.com Related Reading: Learn How To Use The MACD Monthly Ichimoku Sends Mixed Signals To The Market The monthly Ichimoku is an interesting picture currently and could give bulls some hope ahead. The Tenkan-sen and Kijun-sen remain crossed bullish. Take a look at the last bear market and you can easily see how quickly these two lines crossed bearish in the past. This could mean that Bitcoin is still bullish, despite the macro pressure. It also could mean the worst is still ahead and a cross is still coming. It doesn’t help that monthly momentum on the LMACD hasn’t begun to weaken according to the histogram. The ADX does show an overall trend continuing to fizzle out, with bears taking charge for the first time since the 2014-2015 bear market bottom. Bullish strength has also fallen below 20 for the first time in history. A comparison between bear markets shows that the lines have yet to cross | Source: BTCUSD on TradingView.com Related Reading: Learn How To Use The Ichimoku Could Bitcoin Form A Perfect Bottom? TD Sequential Has One Week Left On 9 The TD Sequential is a market timing indicator designed by Thomas Demark. Simply reaching a 9-count on a downtrend is enough for a buy setup –– which is a positive case for Bitcoin currently. However, these signals are more powerful when the 9-count is “perfected”. To perfect the series, Bitcoin would need to set a lower low below the current bottom at $17,600. Although bearish signals outweigh the bullish, price action continues to hold above a more than ten year long trend line. Until this line in the sand is lost, bull still have hope in staging a reversal. But more than likely they will need Mr. Powell and his money printing pals to cooperate tomorrow. The TD9 is on a nine-count with only a week left to "perfect" the series | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. All this week at Elliott Wave International is Trader Education Week. Here is free access to five exclusive videos from one of the world’s best Elliott Wave analysts. You can also get the Elliott Wave book for free with a no cost signup. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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How Futures Traders Could See The Bitcoin Selloff Coming

Author: Tony Spilotro

United Kingdom

Source: NewsBTC

Sep 09, 2021 12:06

How Futures Traders Could See The Bitcoin Selloff Coming

Part of what is so special about Bitcoin is the fact that is it inclusive to all, and never in the past required the participation of “smart money” and institutional traders. But to become a multi-trillion dollar asset as it is destined to, bigger players had to get involved to take things to the next level. That next level is now here, and retail investors and traders are in the same market along with whales, corporations, and other high wealth individuals. These elite play in their own ball field, complete with their own set of rules and conditions. Some conditions can be so unique, that it can even help these traders avoid muddied signals coming from retail trading platforms. Here is how that all works. The Great El Salvador Bitcoin Bull Trap Bitcoin has been trading actively for more than a decade, and the network itself active for slightly longer. When it first released, it had no value at all. Today, it trades for $46,000 per coin, which has the cryptocurrency’s total market cap hovering just under one trillion dollars. Growing from nothing to pennies, to a trillion dollars in value, is nothing short of amazing. Even greater of a milestone yet, was what happened yesterday when Bitcoin became legal tender in the Latin American country of El Salvador. Related Reading | How Bitcoin Bulls Can Make September A Month To Remember Rather than soaring sky high as the retail crowd would expect, whales bought the rumor, but sold the news and took out stop losses of overzealous retail traders in the process. How was it that retail was so easily duped, but institutional futures traders were not? It could come down to the unique technical at the Chicago Mercantile Exchange, better known as CME Group. Retail traders on Coinbase were bull trapped | Source: BTCUSD on TradingView.com How CME BTC Futures Tipped Off Institutional Traders When BTC Futures made their debut on CME in 2017, it was the end of the previous Bitcoin bull run. Institutions made it clear then that cryptocurrencies weren’t yet ready, and shorted the coin to the ground. And it was the first time outside of unregulated derivatives markets that institutional traders could do so. It caused a bear market as a result. Since then, the power of the CME platform has controlled much of crypto price action. So-called breakaway gaps left on CME charts are often filled later in the week. These gaps are left behind, because the Monday through Friday trading desk actually closes down for weekends and holidays – in contrast to the always on markets of Coinbase or Binance. Related Reading | New To Bitcoin? Learn To Trade With The NewsBTC Trading Course! In the comparison between the two charts above, even technical indicators on the CME Futures chart on the left doesn’t exhibit the same bull trap situation. On the evening that Bitcoin was due to become legal tender, the LMACD indicator crossed bullish on the Coinbase chart (pictured on the right), suggesting that a bigger move up was essentially confirmed. But on the CME chart, no such crossover occurred, which was telling of whales’ next moves. The momentum had long crossed bearish, but was waiting for price to react. React it did, and Bitcoin price flash crashed by $10,000 and nearly 20% due to the severe liquidations seen across the crypto space. CME traders could have easily seen this coming, given the fact their chart never had a bullish signal to trap retail traders. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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