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Here are levels to watch as Bitcoin fights to avoid $30K July repeat



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 4 months ago '19        #1
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The Dogefather  topics gone triple plat - Number 1 spot x25
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Here are levels to watch as Bitcoin f*ghts to avoid $30K July repeat
 

 
Bitcoin (BTC) could well continue falling in the short term now that $40,000 support has disappeared, fresh analysis warns.

In its latest market update on Friday, trading suite Decentrader analyst Filbfilb raised concerns that the day’s $290 million in liquidations was not enough to avert a fresh tumble.

Next stop: $33,000 if leverage unwinds

After reversing at $38,250 overnight, BTC/USD looked decidedly unhealthy at the time of writing, putting in fresh lows prior to the Wall Street open.

Cross-crypto liquidations passed $720 million on the day, but for Filbfilb, this is historically a meager tally, and with liquidity likely concentrated below $38,000, the chances of a cascade being triggered are obvious.

“Liquidations since the push below $40k have been low so far, virtually not even registering on the chart in the grand scheme of things. At the same time, funding remains relatively flat, meaning the bears are winning against margin traders who are almost all underwater,” he wrote.

“We have been talking about the liquidity which likely lies below $38K for some time.”

Should spot price begin to unwind leveraged positions there, the next stop for “relief” lies at $33,000. The update continued:

“If the $38k level is lost with some increased momentum, we are expecting a liquidation event similar to that of 4th December 2021 and a move towards $33k in the first instance, possibly tagging the 100 Week Moving Average, at c.$31,500, but $33,000k also being a potential level for some relief.”

Such an outcome would place Bitcoin on track for a copycat finish to that from July, the month in which it put in a floor just below $30,000 — near its 2021 opening price — before recovering.

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Daily close above $40,000 required to usher in rebound

Meanwhile, to secure further upside, things would need to change significantly.

An uptick would have to be accompanied by negative funding rates, showing that shorters were in suitable disbelief at the staying power of a rebound. The ratio of long to short positions should also decline in step, Filfilb argued.

A daily close above $40,000, he concluded, would go some way to permitting such a scenario.

At the time of writing, BTC/USD circled $37,900 as volatility once again increased, data from Cointelegraph Markets Pro and TradingView showed.
image
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28 comments
 

 4 months ago '18        #2
Dehone 
Props total: 75278 75 K  Slaps total: 3664 3 K
Discount shopping time
+11   

 4 months ago '18        #3
BrooklynDamien  topics gone triple plat - Number 1 spot x2
Props total: 64959 64 K  Slaps total: 4541 4 K
I'm about to take a look at btc now that it hit my 35k target.
had that 35k target since October. Thought we would get more sideways action before hitting it, but here we are.

I've had other huge short targets hit today that I set alerts for for link and eos.




Instead of posting targets from now on I'm gonna start posting levels to trade at and videos on how to use indicators so cats can trade these leverage tokens with me, if they like. There's like 25 tokens on kucoin. I'm going through them all this weekend to get the levels


Last edited by BrooklynDamien; 01-21-2022 at 04:25 PM..
+11   

Top 10 most propped recently  4 months ago '20        #4
Gen Anti Fruit  topics gone triple plat - Number 1 spot x26
Props total: 116121 116 K  Slaps total: 5644 5 K
It’s gonna hit $30 I can feel it
+4   

 4 months ago '19        #5
PettyGotAFatty  topics gone triple plat - Number 1 spot x3
Props total: 8716 8 K  Slaps total: 593 593
Copped hella Shib Inu on discount today!
+1   

 4 months ago '08        #6
606robin 
Props total: 19363 19 K  Slaps total: 1216 1 K
 Gen Anti Fruit said
It’s gonna hit $30 I can feel it
I'm pretty sure you mean 30K
+2   

 4 months ago '04        #7
TBX 
Props total: 1984 1 K  Slaps total: 92 92
Ready to hit that button anytime. Hodled for over 2 years fu*k

Top 10 most propped recently  4 months ago '15        #8
donnyyy  topics gone triple plat - Number 1 spot x13
Props total: 30356 30 K  Slaps total: 3713 3 K
 Gen Anti Fruit said
It’s gonna hit $30 I can feel it
I think one of their previous lows is around 34 or something like that

Always felt like that's where it was headed either way

Haven't looked at the charts lately but i wouldn't be shocked if it does.
+1   

 4 months ago '05        #9
Andrefrbk  topics gone triple plat - Number 1 spot x37
Props total: 43551 43 K  Slaps total: 9025 9 K
The first rate hike will trash the market easily another 15-20%

I see BTC returning to under $20k, just looking at the chart it looks like we are seeing the bubble completely deflate. A lot of margin was used to buy BTC, borrowing is drying up. And like i said first interest rate hike will make those margin accounts harder to hold.

Going to get ugly, i been warning n*ggas about tulips, i mean bitty.

CAREFUL. As a trader i avoid the double top setup.
IMO the worst time to go long is after a double top. Best time to SHORT.



Notice how bitty has the same chart pattern very classic play out, and easy to predict.


I cant remember the last time ive lost money shorting a double top.

edit
52 week LOW is $28k, lmfao. Yeah this is done. Market sellers will be forced to capitulate soon. This sell off just beginning.

If you are buying now just anticipate some retarded losses and be prepared to avg down.


Last edited by Andrefrbk; 01-21-2022 at 05:25 PM..
+10   

 4 months ago '18        #10
ShoePacShoeKur 
Props total: 2627 2 K  Slaps total: 448 448
El Salvador is for sale. Thanks crypto bros
+1   

 4 months ago '17        #11
justin747  topics gone triple plat - Number 1 spot x5
Props total: 192822 192 K  Slaps total: 29812 29 K
sportsbook top 10
Charts and Technical Analysis for a manipulated market





+6   

 4 months ago '19        #12
The Dogefather  topics gone triple plat - Number 1 spot x25 OP
Props total: 45164 45 K  Slaps total: 9775 9 K
 ShoePacShoeKur said
El Salvador is for sale. Thanks crypto bros
They going to be sh*tting a brick in a month



Long as they HODL the next 10 years they’ll be good
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 4 months ago '15        #13
Kdub31 
Props total: 23058 23 K  Slaps total: 2229 2 K
The S&P 500 has been falling because of interest rate fears... Bitcoin has been tracking the S&P and falling at the same rate


Somebody explain how or why an interest rate hike is effecting Bitcoin??




Answer
Market manipulation and the Banks control bitcoin now too
+4   

 4 months ago '16        #14
PeeKwod  topics gone triple plat - Number 1 spot x1
Props total: 11798 11 K  Slaps total: 430 430
Paperhands shook
+6   

 4 months ago '04        #15
SCENE 
Props total: 2898 2 K  Slaps total: 288 288
again I ask...what happened to all the projections that said 100K and ETH 10K by years end 2021
+12   

 4 months ago '17        #16
Al Simmonz  topics gone triple plat - Number 1 spot x1
Props total: 6006 6 K  Slaps total: 398 398
I really wish I had the attention span and discipline to get into this.
+1   

 4 months ago '13        #17
noob101 
Props total: 1523 1 K  Slaps total: 124 124
 Kdub31 said
The S&P 500 has been falling because of interest rate fears... Bitcoin has been tracking the S&P and falling at the same rate


Somebody explain how or why an interest rate hike is effecting Bitcoin??




Answer
Market manipulation and the Banks control bitcoin now too
you should learn how to read charts, Charts create the news...
+1   

 4 months ago '20        #18
lostOne 
Props total: 2950 2 K  Slaps total: 565 565
Hit my target of 37k and I expect some wicks to 35-36k so I'm expecting a bounce soon from here. So nah i don't see if going under 34k but everyone has their own opinion right

IMO i don't think the Fed can raise rates in these conditions because absolutely nothing has changed except higher inflation. Economically condition have not gotten better. Once they stop printing money and buying equities, sh*ts hitting the fan but uhh we'll see

 4 months ago '15        #19
Kdub31 
Props total: 23058 23 K  Slaps total: 2229 2 K
 noob101 said
you should learn how to read charts, Charts create the news...
Trust me bro I know... thats why I said that
+1   

 4 months ago '21        #20
nocomment  topics gone triple plat - Number 1 spot x4
Props total: 24370 24 K  Slaps total: 3544 3 K

+1   

 4 months ago '11        #21
nyc 
Props total: 9084 9 K  Slaps total: 920 920
$20k btc on the way
+1   

 4 months ago '08        #22
606robin 
Props total: 19363 19 K  Slaps total: 1216 1 K
 SCENE said
again I ask...what happened to all the projections that said 100K and ETH 10K by years end 2021
Propaganda spread after the banks made their quota

 4 months ago '19        #23
aaf192020  topics gone triple plat - Number 1 spot x3
Props total: 84655 84 K  Slaps total: 9293 9 K
Everything is down. What else is new. World is in a weird place right now.

 4 months ago '04        #24
Ace2125  topics gone triple plat - Number 1 spot x5
Props total: 5886 5 K  Slaps total: 1048 1 K
This is great for the overall health of the market. I can see 50k BTC by march-april

 4 months ago '04        #25
Ace2125  topics gone triple plat - Number 1 spot x5
Props total: 5886 5 K  Slaps total: 1048 1 K
 Andrefrbk said
The first rate hike will trash the market easily another 15-20%

I see BTC returning to under $20k, just looking at the chart it looks like we are seeing the bubble completely deflate. A lot of margin was used to buy BTC, borrowing is drying up. And like i said first interest rate hike will make those margin accounts harder to hold.

Going to get ugly, i been warning n*ggas about tulips, i mean bitty.

CAREFUL. As a trader i avoid the double top setup.
IMO the worst time to go long is after a double top. Best time to SHORT.



Notice how bitty has the same chart pattern very classic play out, and easy to predict.


I cant remember the last time ive lost money shorting a double top.

edit
52 week LOW is $28k, lmfao. Yeah this is done. Market sellers will be forced to capitulate soon. This sell off just beginning.

If you are buying now just anticipate some retarded losses and be prepared to avg down.
If you listen to anyone calling for a BTC under 20k at this point you could miss a great buy in target. Just saying
+2   



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