BitMidas

BitMidas Sep 6, 2022

As previously mentioned in our analysis, $ETH performed stronger than $BTC. Breakup $1625 will flip positive. Now it has jumped out of the downward channel. The whole movement is still stronger than BTC. Here is at the center of a battle between long and short. Breaking it up and holding it above this support will open up more space up to $1858. The long-term...

BitMidas Sep 6, 2022

BTC is still moving between the narrow day range. The key support on August 19 sustained the price till now. It’s diverted down slightly. Short-term positions are tightly concentrated, resulting in the price jumping violently up and down until a breakout. Pump and pullback from 8:00-11:00 today are easily seen again. 3. Breaking up and holding above $20469.97...

BitMidas Sep 5, 2022

The key support on August 19 sustained the price till now. Short-term positions are concentrated. It’s easily broken upon an incident. Today holding above $20497.02 will the price stabilize, but not a reversal. The trend is still going down in the long-term and macro background. Keep monitoring the key support. Breaking down the support without a pullback in...

BitMidas Sep 2, 2022

The key short-term bullish support sustained the price and many positions are added at this level. It’s still functioning as key support. Taking hold of $21115.19 could BTC enter consolidation. Intraday fluctuation is concentrated between the key support and intraday resistance. Monitor the key support. QT doubles in September. Fed lifts the upper limit of...

BitMidas Sep 1, 2022

The key short-term bullish support still plays its role as more positions are added around this price level. However, these positions are spread and thus cannot endure a plunge. Monthly data are updated: the overall resistances came down and the price is under short-term pressure. Only by taking hold of $21115.19 could BTC stabilize - not a reversal - and add...

BitMidas Aug 31, 2022

As we mentioned in the last analysis on Aug 25, BNB wasn’t strong enough to break back into the bullish channel. Now it’s still at the risk of breaking down the bullish support. It drop out of the bullish channel on 26th and held the support at $271-$266.4 gathering the strength to go back in. The current price is suppressed by the intraday resistance at $291.3....

BitMidas Aug 31, 2022

The key support sustained the price yesterday and saw a quick bounce. The key support boosts the confidence of the bulls. The short-term bullish support is able to keep the price above but not strong enough. Only by pushing it up and breaking the intraday resistance for 24 hours will the short-term bulls firm their stance. It is a crucial moment from today...

BitMidas Aug 30, 2022

In our previous analysis on ETH (Aug 24), we mentioned that if $1523 was broken, there would be a large slide. After the downfall, ETH held $1437 and bounced back. Short-term resistance is at an area between $1620.41-$1625.85, breaking up on which for 24 hours will the movement turn positive. The movement of ETH is stronger than BTC, however, only by breaking up...

BitMidas Aug 30, 2022

The final short-term bullish key support held the price. The bounce in price has driven the support back to its previous diversion, which will continue to support and maintain the current price level. If the short-term bulls keep this movement for 24 hours and break up $20863.04 and stay above it for 24 hours, the price will stabilize for some time. Now it’s...

BitMidas Aug 29, 2022

BTC broke the key support last Friday. We mentioned last week the possibility of a lower consolidation range if the recovery is failed. Currently, BTC is testing the final bullish support, which is crucial to the sustainability of the upward movement. However, sustaining the movement around this level range requires a strong bullish spring to break up...

BitMidas Aug 26, 2022

BTC is in consolidation. Yesterday it sprung up again and fell back, the third time touching the intraday resistance. Bulls are trying to wither the resistance, which is quite heavy. All the small resistances against recovery are diverted upwards from $21738.27 to $21775, and from $21951.46 to $22056.76. $22056.76 is the maximum diversion, and breaking it up...

BitMidas Aug 25, 2022

In our last analysis, $280-$277.3 is the short-term bullish support. BNB came down to a lowest point at $276.2 throughout the 19th and 20th, which is right on the target point at $277, before a bounce back. It’s still facing a downward breakout risk. In the short term, it moves in tandem with BTC. Breaking up and holding above $311.2-$315.7 is a sign of...

BitMidas Aug 25, 2022

BTC is in consolidation. It reached as high as $21900, precisely within the resistance target at $21957.89. This target point diverts to $21738.27-$21951.46, which is a key point of recovery. Breaking it up will generate more space upward, otherwise, the price is kept under it. Weak consolidation: the process of recovery requires bulls to conquer every...

BitMidas Aug 24, 2022

ETH is currently in consolidation with stronger strength than BTC. The first key support is at an area between $1523.45-$1507.42. if it is broken without a pullback in 12 hours, it will see a large slide. Consolidation is in this round of recovery. Similar to BTC, ETH will come back and forth within a price range. Breaking up and remaining above...

BitMidas Aug 24, 2022

BTC is in consolidation. It reached as high as $21684.87, precisely within the resistance target at $21688.97. This target point diverts to $21759.56, which is a key point of recovery. Breaking it up will generate more space upward, otherwise, the price is kept under it. Weak consolidation: the process of recovery would need bulls to conquer every resistance...

BitMidas Aug 23, 2022

BTC is still in recovery, creating another intraday support today. This is small progress yet very slow in consolidation. The process of recovery would need bulls to conquer every resistance above. Usually, it would jump up against a resistance and hit back consolidating or just chopping around an area. Sign of a good recovery: taking hold of $23295.54 and...

BitMidas Aug 22, 2022

The key support of $22599 last Friday was broken, then a big slide followed. $20797 is the support at present. There is a need for recovery and consolidation. BTC has to break up every short-term resistance before taking hold of $23239.66 and remaining above it for 24 hours to conclude a consolidation. Key resistance diverts to an area between...

BitMidas Aug 19, 2022

BTC broke short-term bullish support, which now flips into resistance at around $23674.40-$23855.15. Only by breaking it up for 24 hours could the bulls retain its momentum. Monitor every key support, the first one in particular. If the first one is broken, there’s a large room to slide. Several Fed officers signal a 75bp interest hike in September. The market...