BTC/USD is within an uneasy price range as it continues to linger unsteadily, leaving speculators with questions regarding their perceptions.

BTC/USD is near the 30,400.00 ratio as of this morning. Trading for the moment almost appears to be tranquil for Bitcoin, but as speculators know, the potential for sudden volatility and price moves of one thousand USD within fast durations is always possible. The thought that BTC/USD is going to continue to produce polite movements in the near term will probably be disproved abruptly.

BTC/USD has seen a dramatic loss of value the past week, but the ability of BTC/USD to climb above the 30,000.00 and sustain this level this morning should get the attention of traders.  However, the question regarding this development in the short term, is where technical perceptions lead the decision making process of traders. Having suffered from what has become a notorious bearish trend and having demonstrated the ability to literally crash to long term lows in the blink of an eye, anyone considering trading Bitcoin as a speculative wager has to be prepared for the chance of chaos.

The broad cryptocurrency market continues to produce extreme volatility and it has mirrored in many ways, the results from equity indices such as the NASDAQ 100.  However the results in BTC/USD and its major counterparts in the digital asset world are producing more destructive percent changes of value, meaning that short term traders of cryptocurrencies including Bitcoin need to use secure risk taking tactics.

It is likely in the near term that BTC/USD will remain volatile and that nervous results will continue to be demonstrated with sudden fluctuations.  The current price of BTC/USD has shown some stability and incrementally has increased the past half day, and in recent hours. Technically traders need to decide if the move higher in BTC/USD can be sustained and until higher price levels are attained, many speculators may not want to pursue potential upside momentum. Yesterday’s high in BTC/USD did trade above 31,000.00 rather comfortably, but it quickly saw a reversal.

Traders of BTC/USD are urged to use entry level price orders. The use of take profit and stop loss orders should be a tactical decision too, this in order to take advantage of the price range Bitcoin is now trading. Speculators who are still skeptical of BTC/USD and its ability to sustain a higher climb might want to be sellers around technical resistance and look for quick hitting reversals lower. If BTC/USD is not able to break through the 31,000.00 ratio near term and sustain this value, this may be a negative signal for Bitcoin.

Bitcoin Short-Term Outlook

Current Resistance: 30506.00

Current Support: 30202.00

High Target: 31495.00

Low Target: 28639.00

ADA/USD is lingering near unsettling support levels, and speculators who have been trying to seek a reversal higher may be growing uneasy.

ADA/USD is hovering near the 78 cents level as of this writing, and important support levels are within sight.  The broad cryptocurrency market is showing a rather widespread amount of nervous sentiment as many of the major digital assets linger near extremely important mid-term support and many others are within shouting distance of long term junctures.

ADA/USD is remarkably close to both mid and long term support levels. If buyers remain in a non-supportive mode and the price of Cardano continues to erode, ADA/USD could with one swift stroke of volatility suddenly be next to depths it has not traversed since early February of 2021. Current support levels of 77 cents have been flirted with recently and the inability of ADA/USD to provide a solid reversal higher is troubling.

Optimistic speculators who have bought ADA/USD may still be waiting for additional buyers to step into the market, but will they arrive?  Incrementally the trend remains bearish, there is no way to sugar coat this technical viewpoint. While some traders may point to the current depths being tested by ADA/USD as a great opportunity to buy when the price is cheap, others may believe value of Cardano can drop lower.

Traders should expect volatility near term because of the consolidation many of the major cryptocurrencies are displaying near critical support levels.  The uneasy calm in digital assets is unlikely to remain and speculators should be braced for the potential of violent trading. The question day traders need to consider is where the greatest amount of risk and reward can be perceived. Because of the rather weak reversals upward, and the almost daily flirtation with lower values, negative sentiment seems to be the stronger potential impetus.

If the 78 cents ratio fails to be sustained by ADA/USD, traders could not be blamed for thinking lower depths will be explored.  If ADA/USD were to fall below the 0.77550000 mark and not be able to climb above this mark in the near term, it could set off a test of the 77 and 76 cents junctures.

Certainly there will be slight reversals higher, but the question is how much strength these moves will generate. Conservative traders may want to use slight moves upward as a way to ignite their short positions with entry price orders above current market values. Speculators need to understand that if the current quiet market disappears, ADA/USD could become very fast and having risk management ready with stop loss and take profit orders could prove effective.

Cardano Short-Term Outlook

Current Resistance: 0.78480000

Current Support: 0.77350000

High Target: 0.90780000

Low Target: 0.80100000