BitMidas

BitMidas

BTC currently runs in the blue range of the short-term downward channel, oscillating the middle line while trying to break up on the key target point. Breaking up $19633.77-$19819.68 and holding above it for 24 hours is crucial to stabilize the movement. Now the price is above the middle line, with some room for a rebound. But data changes quickly these days,...

BitMidas

BTC didn’t manage to hold up on $19568.12 for 24 hours. Data went down at around 00:00 (UTC+8). The price dropped into the triangle below the center of the downward channel. BTC currently oscillates around the center of the short-term downward channel, battling around the key target point, either kicking into the blue box or dropping into the red triangle....

BitMidas

BTC broke up the triangle, holding up on the battling target at $19568.12. Data turns positive. Holding above $19568.12 for 24 hours and more will the price hit $21311.64 area. Holding above $19568.12 for 24 hours will BTC run in the upper range of the short-term descending channel. Short-term bearish movement has ended. BTC is rushing upward. The support...

BitMidas

Bulls met strong resistance at $19568.12 at the weekend. Data shows weakness, with shorts taking control. BTC runs along the center of a short-term downward channel, which forms a triangle with the current key support. In this triangle will it cultivate a breakout. The longer it stays within this area, the stronger a breakout will occur. Only by breaking up...

BitMidas

BTC continued the movement since yesterday. As per the calculation today, holding up $19596.58 for 24 hours will recover the key target point. BTC keeps testing this price point since yesterday. Before a real breakout, it’ll keep oscillating. Fund inflows, diverting data upwards and forming a support that temporarily prevents a second slide. Breaking up...

BitMidas

ETH is at the center of the long-term trend between $1221.76-$1218.10. ETH is trying to recover, similar to the movement of BTC. Key support: 1.$1221.76-$1218.10; 2.$1106.49 $1221.76-$1218.10 is both the current support based on the sentiment and the bottom line of the short-term downward channel. Breaking down this price level will bring ETH to a lower level....

BitMidas

Fed added 75bp. The market went as predicted: strong fluctuation killing both shorts and longs and then sliding. Luckily $18175 kept the price from a second downfall. The current moment is taken by shorts while seeking recovery from $18116.50. Today the fluctuation dies down, waiting for fund inflow to start another battle around the key price point. Today...

BitMidas

Yesterday bulls failed to take the key price point, which prevents the price from rising above the diverted $19534.40. Today BTC temporarily runs between $19534.40-$18453.78. Breaking up $19534.40 for 24 hours will BTC see a temporary relief from a second slide; breaking down $18453.78 will see a second slide toward $18175.02-$18006.71. Interest rate hike...

BitMidas

Yesterday’s support $18218.53 held the price and saw spring up towards $19553.96. BTC however didn’t manage to stabilize the positive movement. This target point now diverts to $19723.29. Today BTC temporarily runs between $19723.29-$19000 and trying to take the first resistance. Holding it up for 24 hours will BTC see a relief to the temporary downward sliding...

BitMidas

The key support is broken. Now BTC is sliding down. Control your positions. $18218.53 area is the next support. If this area is broken, a second slide would incur. (Similar to the movement of breaking the key support) After the breakdown on the key support, the short-term movement forms a new short-term downward channel, resulting from a panic selling. BTC is...

BitMidas

BTC again went down on the key support, which held the price. But now the strength of supporting the price has weakened. If it’s broken, BTC could slide further down the trend. Today, only by breaking $20543.56 could BTC come back into the wide consolidation range. $21887.17 should be the center of the range. The movement is still considered weak before...

BitMidas

The Merge has concluded, however, $ETH didn’t manage to reclaim the loss from the CPI panic selling. According to the stats today, only by holding up on $1665.56 could it stabilize. The whole movement is stronger than BTC. The key support is at $1482.37. If it’s broken, this target point will turn into a resistance and bears will take control. Monitor the key...

BitMidas

BTC came as low as $19617.62 02:00 am (UTC+8), bouncing from the key support. However, it’s not ending the downward risks. Breaking down the line will see a greater slide down. Today, only by breaking $21535.30-$20611.82 could BTC come back into the wide consolidation range. $21896.70 should be the center of the range. The movement is still considered weak...

BitMidas

Yesterday the released CPI was higher than expected. US stock and Cryptocurrencies dived. BTC slumped from $22899.12 and bears took control. BTC is now out of the wide range and trying to climb back. Only by breaking up $20390.10 and holding above it for 24 hours could it successfully back into the range. If this range continues, $21909.46 will be the center...

BitMidas

Data turned positive last Friday. Led by a bounce in the US stock market, BTC experienced a spring, reclaiming the key support and forming several supports at the moment. The positive momentum continues. Bulls take control. BTC comes back and forth in a wide range. The highest point could reach $25190.48 and the lowest to $20390.10 within this week. Today the...

BitMidas

The support formed the other days during the slide held the price, resulting in an upward diversion of the intraday support. All the supports underneath diverted up, moving more positively than in previous days. However, a downward risk is not released. More strong movements are needed to see positive data. Breaking up and holding above $19784.57-$19913.87 will...

BitMidas

Yesterday the miners’ defense held the price, generating an intraday support. Today the data is better than yesterday, but downward risks remain. Breaking up and holding above $19784.57-$19836.37 for 24 hours could release the downward pressure. $ETH fuels the crypto market. If $ETH breaks up the long-short status quo of the middle line in the downward...

BitMidas

BTC broke the key support which kept up the price from August 19 to September 6. Now it’s sliding to test the miner’s defense, where there are many listed positions. $18183 is the support of this slide. Breaking down this target point will see a drop. As mentioned in our previous analysis and macro weekly report, September is risky and we are experiencing a...