#BTC MACD looks like it wants to cross over upwards on the weekly chart. If it does so successfully next week, #BTC and many alt coins will shoot to the stratosphere!
I had posted this a few days ago then delisted it when I felt that I had read the markets wrong when #BTC went down on Sunday. Turns out it was a minor correction and I was right all along!!!
#BTC Bollinger bands seem to be squeezing at the one hour. This could be preparation for an upward movement. MACD is also looking like it's about to cross over at the one hour too and sell off volumes have reduced.
I predict a #bullish trend today and the start of the week lasting at least till Wednesday.
I have participated in the weekly games on the #CryptoForEveryone campaign on Binance Live Africa page for an opportunity to grab some coins to hold now that #BTC☀ is on a correction ready for a pump in the next few days. If you are a new user and is from Africa, you too can earn some coins by participating in these games.
You will also learn how to complete your KYC, how to deposit funds into your account, how to trade in the spot market and how to convert coins. By participating in these games too you can also get your very first FUSD in addition to depositing your own funds. What are you waiting for??? Join the telegram page specific to your region in Africa and get going!
I am also expanding my knowledge on web3 for free while also hoping to win some coins because you know crypto just keeps on growing everyday you need to keep learning to get updated on new developments and opportunities. I have so far invited some buddies to Binance and I earn rewards each time they trade which helps improve my margin ratios when I am in a trade. You can earn that too.
Play these games for a chance to win Crypto For Everyone Community Games: Join the Fun and Learn with Binance Africa and win part of 2000$ in FDUSD! Here ⬇️⬇️⬇️
#BTC MACD looks like it's about to cross over at the 4hr. With an RSI of 60 I expect a further market decline. Short sellers could be very profitable shortly.
It would take a miracle for #BTC to be bullish today. RSI looks good for a buy on the 1hr but MACD has crossed over on the 4hr which is not a good sign. And this could be interpreted by some as conflicting signals. We can only wait it out to see what happens next. The goal is always to protect your assets.
Today, the market has been playing around the 1hr mark with neither the bulls nor bears succeeding in pulling it in their direction making it difficult to predict. But with the 1 week chart being bullish, it is likely that #BTC will end the day bullish even if slightly so. I'm feeling bullish on #BTC today still.
#BTC is definitely bullish today. And could be for the next few days. Yesterday was the only day got it wrong so far. The market is definitely not anyone's grandmother. It will not do what you want 😁🤣😭
After a drop today, #BTC is attempting a recovery at the 15m mark. I feel it will finish the weekend in the green ready for a new bullish week before attempting to break the 70k resistance.
While it's been playing around the 4hr resistance all day, I feel strongly that #BTC☀ will end the day in the green today ready for another green day tomorrow.
The current #MarketDownturn could be predicted by using technical analysis. #BTC☀ MACD at the 1d crossed over downwards at the end of last month, beginning August bearish. It is therefore not surprising that there was a downwards movement this week. Any political or financial news such as Kamala Harris running for president only increased fear and caused the sharp decline to 49k.
If you bought the dip at 49k you are safe for now as the MACD on the 4hr is still bullish and we could have a few more hours of an upside or maintained support even into the weekend.
Margin traders who intend to hold should support their assets though as MACD is still bearish on the weekly chart and could begin bearish next week or even begin bullish and go up to 70k and attempt to break that resistance. With a rejection, markets could crash again even to below 49k. This is particularly for those trading altcoins and meme coins as they react more faster and more sharply to #BTC gains or losses.
Taking profits from time to time is my personal trading strategy to hedge against possible market drops and keeping my margin levels low. Beginning to trade at 00:00 UTC too gives a very clear view of how the day is going to turn up and which coins to trade.
While the 1M chart is bullish for now, it's still too early into August to predict with certainty how #BTC will move in September.
A good political and financial environment could improve market sentiment and bring in more bulls which could help break that resistance that #BTC has been struggling to break for months now.
#BTC☀ is bearish today with MACD crossed downwards at the 1hr so far I doubt BTC will be in the green today. The 4hr is still in the green so the decline might not be sharp or severe. Hopefully it maintains support on the 15m chart for a possible recovery tomorrow.