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BTCUSD Technical Analysis - BTCUSD Trading: 2022-05-12
BTCUSD Technical Analysis Summary
Above 28620
Buy Stop
Below 25258
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Sell |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Fibonacci | Buy |
BTCUSD Chart Analysis
BTCUSD Technical Analysis
The BTCUSD technical analysis of the price chart on 1-hour timeframe shows BTCUSD: H1 is retracing up toward the 200-period moving average MA(200) after breaching above Fibonacci 23.6 resistance level. We believe the bullish momentum will continue after the price breaches above 28620. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 25258. After placing the order, the stop loss is to be moved to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Crypto - BTCUSD
Coinbase restated that funds are safe “as they’ve always been.” Will the BTCUSD price rebound?
Coinbase reported its first loss amounting to $430 million in Q1 2022. There were media postings afterward suggesting that users are not protected in the case of bankruptcy. Coinbase CEO Brian Armstrong announced that funds are safe “as they’ve always been.” Fears cryptocurrency exchange operator Coinbase may go bankrupt are bearish for BTCUSD. However the current setup is bullish for Bitcoin.
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