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Price analysis

Bitcoin (BTC) price analysis today, 3/8/21. $ 60k until SUNDAY?

Let’s go to technical analysis for this second, women’s day, 03/08/21? Come with me, I have a good feeling this week, which ends well before my birthday! Uhuu! 🎈🎂

📊 BITCOIN PRICE ANALYSIS, TODAY 08/03/21

🔸 Weekly chart

We started a new candle on the weekly chart yesterday at 9pm. However, the analysis remains the same as the previous analysis: we need to classify the $ 43,000 level as an upside fund. And for that, we need a bullish pivot on the daily chart. So to better understand, see the previous analysis by clicking here: “Bitcoin (BTC) price analysis today, 03/07/21! Bulls forcing a pivot!“.

🔸 Daily chart for today, 03/08/21

The bulls are fighting to form the bullish pivot and for that, we need to close a daily candle above $ 52,700. This pivot being formed, then we will be loaded for another high kick!

Bitcoin (BTC) price analysis today, 3/8/21. $ 60k until Sunday?

We need to be very smart when testing the breakdown of the 52,700 USD, as in this region, the selling force (or the bears) can use a strategy called “Top Fishing”. In other words, the bears will be sold in the region of 57.700, which is a resistance, aiming to “fish” the weaker traders. As it is a very well-defined resistance, you can go short at US $ 57,700, with a stop loss of up to 1.5%, targeting gains of 10 to 20%. It is precisely because of this movement of bears in top fishing, that we are having difficulty overcoming this resistance.

🔸 4 hour chart

In order for the above-mentioned bullish pivot to be confirmed and to set the ascending fund on the weekly chart, we need to keep our eyes open on the 4-hour chart so that it does not miss the upward trend! 👀 The inverted OCO that I am talking about in the last 2 analyzes was also invalidated, as we did not see a break in the resistance. However, by invalidating the OCO, we form a new pattern: the ascending triangle.

Análise de preço do Bitcoin (BTC) hoje, 08/03/21. US$ 60k até DOMINGO?

The ascending triangle is a bullish pattern as it tends to break upwards. To identify it, you need to draw a line on the resistors, and another line on the supports. See that the candles draw a zigzag inside the triangle, sometimes touching the support line, sometimes the resistance line. The closer to the apex of this triangle, the closer we are to a break, which can be up or down.

For the Bitcoin price analysis today, on 3/8/21, we can say that we have about a 70% chance of breaking up and a 30% chance of breaking down. However, if we compile everything we have from Bitcoin news and other analysis, I would say that we will break this pattern and reach the target by my birthday Sunday now, 03/14! 😁 It will be a big gift, huh ?! 🎈🎉🎊

How to trade it?

This text is not an investment recommendation, as I am not a full analyst yet. However, I want to share with you my analysis, so you can see how trading works.

It is very likely that we will retest the support there where I circulated in blue, ranging from US $ 48,700 to 49,100, approximately. This value may vary, depending on the behavior of Bitcoin. I would consider it a good buy entry, to catch the movement at the very bottom, as long as the candles do not break the triangle. Because if these candles break the support, then we will see a devaluation of the BTC price.

So, I would stay on the 1-hour chart looking at the candles and when it touch the support, I will keep my eyes open! When the candles start the path to resistance again, then I would go long (long position, betting on the price increase). Which, even, is a scalp or daytrade opportunity up to the level of $ 51,400 to 51,500, circled in red.

Bitcoin (BTC) price analysis today, 3/8/21. $ 60k until Sunday?
🎯 Targets
  • If the pattern breaks up, that is, rising more than the resistance of 51,500 USD and we confirm this break (HAVE TO CONFIRM, OK ?!), the target will be around 59 or 60,000 USD.
  • If the pattern is broken and confirmed downwards, then we look for the region of the previous fund, between 43 and 42 thousand USD.
Bitcoin (BTC) price analysis today, 3/8/21. $ 60k until Sunday?

Bitcoin testing exponential moving averages (EMA)

Another factor that makes me believe in the upward break of the ascending triangle is the exponential moving averages. Here in my Trading View account, I put the “Rainbow Ribbon [Eric]” indicator, which is this rainbow on the chart with the EMAs 21, 25, 30, 35, 40, 45, 50, 55 and 200. I don’t know if it will appear in the free accounts or just in the paid ones, try it out and let me know here in the comments 👇 so I can look for a free indicator for you. See the behavior of Bitcoin when it enters or goes below EMAS: the price tends to go up!

Price analysis

Are you ready to take a position today, 08/03/21? Whether betting high or fighting bulls in top fishing? Tell me here in the comments 👇👇 And be sure to follow Aprender Sobre Bitcoin on social media!

Bitcoin To The Moon! 🚀🚀🚀

Jéssica.

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Price analysis

Bitcoin (BTC) price analysis today, 3/7/21! Bulls forcing a pivot!

Let’s go to the BTC analysis today, 07/03/2021 to start Sunday! Even more knowing that our weekly chart closes today!

📊 Bitcoin analysis today, 3/7/21

🔸 Weekly chart

The analysis of the weekly chart will not be much different from what I mentioned in the previous analysis, as the candle will only be closed today. So, if you want to see the analysis of the week, see this text: “Bitcoin price analysis today, 03/06/2021. Two OCO formations!“.

We are trying to classify the 43k USD as our bullish fund on the weekly chart in order to be able to resume our climb. In the previous analysis I talked about the bullish fund and why they are important, so if you haven’t read it, go back to yesterday’s text! But to make this fund, we need to form a bullish pivot on the daily chart, which I comment on in the topic below. Forming the bullish pivot, we give enough freedom for the price to continue to rise.

Bitcoin (BTC) price analysis today, 3/7/21! Bulls forcing a pivot!

What is a bullish pivot?

The bullish pivot is a drawing made on the graph similar to the “N” fallen forward. To be a bullish pivot, the end of the “N” has to be higher than the rest of the letter.

🔸 Daily chart time, for 3/7/21

As I said above, to make this bullish fund on the weekly chart and continue the climb, we need a bullish pivot (or pivot) on the daily chart. And the bulls (which is the buying force, which drives the price up) want to classify the level of 46,200 USD as the this fund and form the bullish pivot. Forming this bullish pivot, then the most likely is to form a new historic top or, at the very least, retest the last top at approximately 58k USD.

Forming this bullish pivot, then the most likely is to form a new historic top or, at the very least, retest the last top at approximately 58k USD.

For those who have not positioned themselves in Bitcoin before and want to enter now to trade, the best option is to wait for bullish funds to enter. For those who want to do HODL, then just buy it 😁

🔸 4-hour graphical time for Bitcoin analysis today, 07/03/21

Looking at smaller charts, let’s go to the 4-hour chart. Remember that in yesterday’s analysis I talked about the two OCO formations? Apparently, the yellow OCO, which predicted a downward trend, was invalidated as it did not break the support of the white line. At the same time, the candles are continuing the trend line of the inverted OCO, which foresees an increase in prices. If the white resistance line is broken, around 51 to 52k USD, then it might be a good time to go long.

HOLE BITCOIN, SHOULDER, HEAD AND SHOULDER IN THE 4 HOUR GRAPHIC

And you? Are you feeling bullish or bearish with Bitcoin? Recalling that the majority of the movements of other cryptocurrencies and altcoins, are awaiting action by BTC. Let’s keep an eye out! 👀 Enjoy and stay on top of the crypto world on our social networks:

Good luck!

Jéssica.

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Price analysis

Bitcoin price analysis today, 3/6/2021. Two OCO formations!

📊 BITCOIN 3/6/2021

🔸 WEEKLY GRAPH:

We are certainly still in a bullish trend, which has been going on since July / 2020, which is easily identified on the weekly chart. Now we are looking for the bottom fund to have more strength to go up, which is extremely healthy, normal and necessary to keep going up.
Anything above 30k USD is an upside bottom on the weekly chart. However, the price would drop too low for us to have the strength to make a new historic top. I prefer the fund to be up to 40k USD.

Bitcoin price analysis today, 3/6/2021. Two OCO formations! Weekly chart

RSI in 70, so we need to be smart, because at some point, we will need to lower that level, which is already happening now, although it is still high. Which is nothing serious compared to the RSI for the week of 4/1/21, which was 95 and that of 15/02/21, which was 88.

🔸 DAILY (3/6/2021):

Upward trend, for sure!

You can see it from the Trading View charts, which have been rising since Oct / 20, with ever higher tops (rising tops) and lower and lower bottoms (rising funds).

We are forming the bottom fund at the moment, this justifies the low prices that we are seeing. On the Bitcoin daily chart, any fund above 30k (USD) is a rising, normal, necessary and healthy fund. If we stick to that, it is considered a downside fund, and a possible trend reversal. Only in this case, we will go down so much with the price that we will hardly form a new historic top, we will not have strength.

In my opinion, we are doing the bottom up now in the diary. And maybe he was even trained at 42k USD. In order to continue the upward trend, we need to go beyond the historic top to make a new rising top.

Bitcoin price analysis today, daily chart

RSI at a good level: 53. Last time we were below 40, for example, was on 8 / sep / 20. Below 50, it was on 2/28/21, at the bottom of 42k USD. Before that, on 01/27/21, in the previous upside fund, at the price of 30k USD. And before that, on 10/6/21, at 11k USD. For me, we have already formed the fund in the 42k!

🔸 4 HOUR CHART:

We have a huge bearish pattern, with one shoulder, head and shoulder forming on the 4-hour chart. If this pattern is confirmed, we can see prices dropping up to 41 or 42k USD.

Shoulder head and shoulder, bearish pattern on the Bitcoin 4-hour chart

However, this bearish pattern will only be confirmed if we break the white support line on the 4-hour chart. That will be more or less around 46,300 USD. After confirmation, it is a short opportunity up to 42k USD and the next target at 41k USD.

🚨 ALERT!

It is very important that the pattern is confirmed. Otherwise, the price may go up rather than fall.

However … incredibly we have the same pattern, only much larger and inverted, which means a bullish scenario! Which will be confirmed first? After confirmation, which will break the upper white line, around 52k USD, we have the first target at 58k USD and the second at 60k USD. That is, we also have a long opportunity.

Bitcoin Analysis 3/6/2021

Remembering that after confirmation, one default cancels the other. That is, if the bearish pattern is confirmed, it invalidates the inverted high OCO and vice versa.

Now, we just have to wait for the candles to form on the 4-hour chart to position us! Follow the Learn About Bitcoin on the social networks below and don’t forget: any questions, call me there in the Telegram group!

Kisses to you! Good trades! ❤

Jéssica.