0
📈 Price Predictions
565 views

BTC Price Approaching $5,100 — Perfect Short Opportunity on the Horizon. Time to Enter the Market?

BTC Price Approaching $5,100 — Perfect Short Opportunity on the Horizon. Time to Enter the Market?
Cover image via docs.google.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The recently predicted Bitcoin price retracement has inspired traders to go short. Now that the cryptocurrency costs around $5,200, Internet users are planning to buy some BTC again, but is it the right time? What if BTC continues falling in value? Let’s read Bitcoin price predictions from tradingview users to find this out.

Don’t miss the short opportunity!

$5,400 will act as resistance level

Judging by technicals, there could be a possible BTC short opportunity!  This evidence wasn’t easy to discover because of BTC’s sideways movement between $5,000 - $5,500.

Here’s what VaidoVeek has seen in the area of $5,335 - $5,400:

  1. The Fibonacci Golden ratio is now 62%.
  2. Strong Bitcoin price area (below the $5,400) should act as a resistance.
  3. The short-term, counter trendline should act like a resistance, too. At first glance, it doesn’t seem so significant, but if this matches exactly with the mentioned area around $5,400, then it will be one of the important criteria.
  4. EMA Death Cross on the 1H chart.
  5. Market structure presents new lower lows and possibly new lower highs.

Besides, if this is possible, wait for a bearish candlestick formation on the 4H timeframe. 4H time frame candlestick patterns are the most reliable ones.

Thus, the present technical indicators show that this level may work as a strong Bitcoin price level for short term price reversal, and there are a little bit of hidden indications that this level may hold!

👉MUST READ

Bitcoin Will Die in 10 Years but Cryptocurrencies Will Continue to Live on: European Poll

Bitcoin Will Die in 10 Years but Cryptocurrencies Will Continue to Live on: European Poll

Pullback to $4,200 is unlikely to happen

The trader stakes on the area between $4,700 - $5,000

According to goldbug1, the pullback to the low $4k is impossible, and he would stake on anything between $4,700 - $5,000. The price is supportive so far. We could see a long setup sooner than later. We are monitoring the price action for a swing trade long, and if it does happen, we will issue a trade signal. These opportunities are pretty rare, so we should monitor the market and try to take all possible advantages, especially when it looks its worst.

There is still the potential for some downside, so one should harness the willpower and courage to trade. If you can’t do that, “then just step aside and let the market determine the outcome, stop guessing. But if you do, that short squeeze could put a contrarian long, well into the money. Let the market stabilize.”

👉MUST READ

Bitcoin, Cardano, Ethereum, EOS Price Predictions – Value Continues Ramping Up, But...

Bitcoin, Cardano, Ethereum, EOS Price Predictions – Value Continues Ramping Up, But...

The $325 gap in BTC value looks dangerous

 BTC support will be found in $4,900 - $5,000

If we compare Bitcoin (BTC/USD) prices on Coinbase vs BitFinex, the price difference is becoming bigger, which means the risk is starting to increase. At the moment, the price difference is $325, and we see BitFinex moving higher and higher but with no volume, which is a terrible signal, bloody Monday coming soon?

Looking at the MACD on both exchanges, the bearish is becoming more pronounced. While there has been no action on Coinbase, BitStamp, BitMEX, etc., BitFinex continues to grow – that’s very suspicious. One possible explanation is that this is just the usual Tether (USDT) situation.

If BTC/USD continues falling, you can expect support to be found first in the $4,900 - $5,000 range, followed by EMA50 if the above level breaks.

According to alanmasters, the break to the upside is very unlikely, judging by the Coinbase chart. EMA10 is still the challenge to break, and the structure of the chart isn't that inviting for an impulse to the upside.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

👓 Recommended articles
0
📰 News
90 views

Crypto Exchange Huobi Completes $40 Mln Token Burn for Q3

  • Alex Dovbnya
    📰 News

    Cryptocurrency exchange Huobi announces the results of its quarterly burn

Crypto Exchange Huobi Completes $40 Mln Token Burn for Q3
Cover image via www.123rf.com

According to a press release obtained by U.Today, Singapore-based exchange Huobi continues to reduce the supply of its native Huobi Token. In Q3, it burned $40.63 mln worth of HT, which represents a 70.6 percent increase compared to the previous year. 

Huobi purchases back outstanding tokens from investors in order to reduce the circulating supply of HT and stabilize its price. It is worth noting that the amount of tokens it burns every quarter depends on particular market conditions.   

The company cites the success of its spot trading and derivatives trading markets as the main reason for another token burn. 

👉MUST READ

New Year, New Name: Huobi Announces Rebranding of Its US-Based Venture

New Year, New Name: Huobi Announces Rebranding of Its US-Based Venture

Huobi Token is the second-largest exchange coin token after Binance Coin (BNB). At press time, the coin's price is sitting at $3.46 with its market cap exceeding $810 mln, according to CoinStatsData.    

Huobi Global CEO Livio Weng claims that the cryptocurrency plays "a core role" in the Huobi ecosystem.  

"Huobi Token plays a core role in the Huobi ecosystem. The continued growth from Huobi’s token burns reflects the community’s active participation and optimistic outlook for our efforts to provide users with new services, lower fees, and a secure platform to trade on."

One of the oldest crypto trading platforms has already burned 13.8 percent of its native coin's circulating supply, which is currently sitting at 234,205,522.92 HT. 

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings