Why Bitcoin is Declining? And What’s Next?

[Monfex]

Dear trader!

Here is your Bitcoin Trend Analysis - the ultimate source of market ideas and trade signals, brought to you by Monfex, that will make you a winning trader.

It’s important to emphasize that the current downward move we’re seeing right now is a corrective wave within an upwards trend, and not a trend reversal.
In case of Bitcoin , a hypothetical decline below a significant support at $7,500 would send a strong signal of a possible trend reversal. The retracement we’re observing now is a ‘market noise’ - meaning, it is a short-term trading volatility that does not alter the long-term trend for Bitcoin .

In bull markets, corrective waves occur regularly, since any price trend, by definition, consists of a series of waves and counter-waves.
Both technical and fundamental approaches to market analysis indicate a positive long-term outlook for Bitcoin . Currently, the price is adjusting downwards closer to its mean value (i.e. central tendency), which creates a good opportunity to buy Bitcoin with a ‘tight’ stop-loss, thus ensuring an attractive risk/reward ratio.

The fundamentals of the Bitcoin network are improving every month - we are seeing increasingly higher numbers of Bitcoin active wallets, Bitcoin daily transactions, and Bitcoin hash rates, all of which indicate an increasing demand for Bitcoin . For example, an increase in the number of Bitcoin active addresses used is associated, by definition, with an increase in global adoption and use of Bitcoin . This translates into increased demand for Bitcoin , which leads to an increase in Bitcoin market price. Since the trend of improving fundamentals continues upwards, we’re expecting to see further price increases of Bitcoin .

Active Trade Signal:

- Buy at $10,000
- Take-profit at $15,000
- Stop-loss at $8,000
- Forecasted P&L: $50,000 per 1 lot with 10x leverage
- Risk/reward ratio: 1:2.5 (very attractive)

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[Monfex]

Dear trader!

Here is your Daily Bitcoin Market Analysis - the ultimate source of market ideas and trade signals that will make you a winning trader.
This content is brought to you by Monfex - a revolutionary crypto trading platform, well-known for its honesty, security, and attractive conditions for active traders!

Summary:
- Trend power is weak. The direction of trend is DOWNWARDS.
- Oscillators generate a SELL signal over the short-term (this week)
- Chart patterns generate a STRONG SELL signal over the short-term

Chart Patterns
On July 15 the price broke through below an ascending trendline . So, technically, we received a short-term trend reversal signal from upward to DOWNWARD.
In fact, now is an excellent opportunity to enter SHORT. Watch for the opportunity to enter short at $9,700, which is the upper trendline of a short-term descending trend channel. The local resistance level is located at $10,200, which should be used as a stop-loss.

From $9,700 the downside potential constitutes 10% over the next week, which you can increase to 100% by using a moderate (10X) level of leverage.
Based on this analysis, if the downward trend continues, the price is likely to decline to the next significant support level at $8,400. Use the $44 price target as a take-profit level.

Exponential Moving Average
Fast EMA (3 Days): Is declining, and the price is below the moving average. This indicates that the short-term (intra-week) trend on BTC/USD is heading downward.
Slow EMA (10 Days): Is moving sideways / slightly declining. Coupled with the fast EMA data, we are getting evidence that the BTC/USD trend is going to further accelerate downwards.

Bollinger Bands
Bollinger Bands indicates that the trend has reversed downwards. Its middle line is declining.

Stochastic Oscillator
The Stochastic has reached the overbought range, and is currently moving down. The signal is to SELL. If the current trend continues to break away from the upward trend, then we’ll likely see the price drop to the $8,350 mark.

Active Trade Signal:
- Sell at $9,700
- Take-profit at $8,350
- Stop-loss at $10,250
- Forecasted P&L: $13,500 per 1 lot with 10x leverage
- Risk/reward ratio: 2:45 (attractive)

If you enjoyed this article, then:

- Take advantage of our superior trading terminal on Monfex
- Trade with up to 50x leverage with zero commission on Monfex
- Discover new trading ideas on Trading View

This analysis has been prepared for you by Monfex- a revolutionary cryptocurrency trading platform.

[Monfex]

Dear trader!

Here is the quick Monfex market analysis update.

Trend analysis
Bitcoin recorded a new low with a HAMMERcandlestick . This could mean it is ready for a reversal. Since the HAMMER , there has been a steady increase in the Bitcoin price. While the fast EMA (200) is still above the price we may be getting ready to see a bullish price crossover.

The RSI is headed towards the oversold territory. The price of BTC has recorded a lower low while the RSI is recording higher lows. This means Bitcoin is gaining momentum and if the volume increases, we may be headed towards a strong upward trend.

What To Consider
With several bullish signals forming, it looks like now may be a good time to close short positions and consider a long term buy. If the price reaches past $10,200 (short term resistance) we may be in for another bull run. BUY at $9,800 price and SELL at $10,200

Active Trade Signal:
- Buy at $9,850
- Stop-loss at $9,250
- Take-profit at $10,200

If you enjoyed this article, then:

- Take advantage of our superior trading terminal on Monfex
- Trade with up to 50x leverage with zero commission on Monfex
- Discover new trading ideas on Trading View

This analysis has been prepared for you by Monfex- a revolutionary cryptocurrency trading platform.

[Monfex]

Hello, dear traders!
We would like to introduce you our new trading idea.

Bitcoin is on a considerable run headed towards the next resistance mark of $13,000. The fast EMA (200) shows a bullish price crossover, and now the fast EMA (200) is below the current price, which indicates upward momentum. The volume is increasing but the RSI shows that the price is well into the overbought range.

With the price getting rejected hard at the $12,000 mark and now showing a long candle wick on the 4hr chart, we can expect a bit of a pullback.
The closest established support level is at $11,000 so expect a dip into this range. If the pullback reaches this level, consider a BUY at $11,000 and a TAKE-PROFIT at $12,500. The STOP-LOSS should be set at $10,500.

Active Trade Signal:
- Buy at $11,000
- Stop-loss at $10,500
- Take-profit at $12,500
- Forecasted P&L: $3,000 per 0.1 lot with 20x leverage on Monfex Exchange
- Risk/reward ratio: 1:3 (very attractive)

To your Trading Success!

[olliecrypto]

Do you find yourself day trading as the market fluctuates or are you trying to get in low and sell as soon as some percentage of profit appears?
I find myself changing strategies as the years have progressed.